…As analysts predict CBN intervention likely By Olabisi Olaleye A new market sensitivity analysis report has revealed how local banks’ exposure in the $1.2 billion (about N377.4 billion) syndicated loan granted Etisalat Nigeria by a consortium of 13 Nigerian banks worsened their loan books over the last few years. The report shows, for instance, that…
The Federal High Court, Abuja, on Monday rejected an e-payment document tendered by the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of Col. Nicholas Ashinze, an aide to retired Col. Sambo Dasuki.
The judge, Justice Gabriel Kolawole, held that the e-payment schedule of N3.12 billion issued from the office of the Secretary to the Government of the Federation and N2.5 billion from office of the National Security Adviser (NSA) did not meet the provision of the Evidence Act.
Ashinze is standing trial with an Austrian, Wolfgang Reinl; Edidiong Idiong and Sagir Mohammed, on a 13-count charge of money laundering.
The others defendants were Geonel Integrated Services Limited, Unity Continental Nigeria Limited, Helpline Organisation, Vibrant Resources Limited and Sologic Integrated Service Limited.
At the resumed trial, the prosecution witness, Hassan Seidu, an EFCC investigator, told the court that during their investigation, the EFCC requested for e-payment schedule evidence from the Central Bank of Nigeria (CBN).
He said the request was to know how the payment of N3.12 billion on April 11, 2014 and N2.5 billion on Feb. 16, 2015 were transferred to two accounts.
He further stated that CBN sent the certified true copy of the e-payment slip used for effecting the transfer to Geonel Integrated services Ltd and Unity Continental Nigeria Ltd.
When the prosecution applied to tender the e-payment schedule as exhibit, the defence, led by Ernest Nwoye, opposed the tendering and admission of the document.
Nwoye said that “it is a photocopy of what is supposed to be a certified true copy”, and urged court to reject the documents as they were not in full compliance of the law.
He added that there was no stamp of the certifying authority and there was nothing to show that the document emanate from the CBN.
Nwoye submitted that the documents contravened Section 104(1) of the Evidence Act.
In his response, the prosecuting counsel, O.I. Uket, told the court to discountenance the objection of the defence.
Uket stressed that “where a certificate is issued, there shall be no further question” and relied on Section . 56, 57 and 58 of the Evidence Act.
He further said that the document was certified before it was presented as evidence and was therefore in total compliance to the law.
Kolawole after listening to both parties and viewing the documents, held that what the prosecution had produced were photocopies of documents which do not fulfill provision of Section 56, 57 and 58 of the Evidence Act.
“The payment schedules issued are inadmissible and marked as rejected,’’ he ruled.
He adjourned the matter until July 5 for continuation of trial.
— 23rd June 2017
By Steve Agbota The Central Bank of Nigeria (CBN) has disclosed it expended about N192 billion on currency management over the past five years. According to Assistant Director, Currency Operations Department of the apex bank, Benedict Maduagwu, the whopping sum was spent on managing the naira between 2005 and 2010. Maduagwu, who stated this in…
— 23rd June 2017
The Federal Government says it is targeting about $8 billion annually in foreign exchange from the export of yams to other countries if its yam export programme succeeds. Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said this when he received the Technical Committee on Nigeria Yam Export Programme in Abuja yesterday. Ogbeh…
— 23rd June 2017
By Zika Bobby Digital Intelligence Quotient (DQ) Institute, an organisation working in collaboration with the World Economic Forum (WEF), has developed a digital initiative aimed at boosting the digital competence of one million young Nigerians and other countries by 2030. The initiative christened, “DQEveryChild,” is a digital intelligence education programme, which can be “plugged and…
— 23rd June 2017
…Tasks council on creative thinking By Adewale Sanyaolu No fewer than 142 public enterprises have been privatized since the inception of The National Council on Privatisation (NCP) Acting President, Professor Yemi Osinbajo, has said. Osinbajo stated this during the inauguration of the Fifth Council of the National Council on Privatisation (NCP, pointing out that the…
Entertainment— 21st June 2017
By RITA OKOYE Nollywood starlet, Nzubechi Maureen Onyia popularly called Nzube Onyia, dreads heartbreaks like hell. This is coming after her ex-lover dumped her a few years ago. However, the experience was the starting point of her movie career, as the heartbreak took her to another level. Here, the light-skinned actress shares her inspiring success…
South-West Report— 22nd June 2017
• Rumble in Ekiti communities over chairmanship of traditional council From Wole Balogun, Ado-Ekiti What can be described as a royal rumble is brewing in three major towns of Ogotun, Ilawe and Igbara-Odo, in Ekiti Southwest Local Government Area of Ekiti State. The Ologotun of Ogotun, Oba Samuel Oyebade, is accused of sit-tight for allegedly…
Abuja Metro— 21st June 2017
As the controversy over the death of Joy Odama rages, her nother, Mrs. Philomena Odama, has opened up on the tragic incident, saying an Abuja-based millionaire should be held responsible for it. In an interview with Molly Kilete in Abuja, at the office of the non-governmental organisation championing the arrest and prosecution of the suspect,…
Oriental News— 21st June 2017
From George Onyejiuwa, Owerri This year, no fewer than 12,000 persons have benefited from the three-day annual free medical mission held recently for the treatment of the aged, poor and indigent by the Mbaise USA for their people at home. The free medical mission held simultaneously at Ezinihitte, Ekwerazu, Uvuru, Lorji, Ezialakaohu Nguru and St….
Features— 23rd June 2017
By Okwy Odunze The Government of Anambra State has signed a Trust Agreement with the United Nations Industrial Development Organisation(UNIDO), on behalf of the for the implementation of the Learning Initiative For Entrepreneurs (LIFE) programme in the state. The programme which will be implemented in 41 Senior Secondary Schools across the three senatorial zones of…
Literary Review— 12th June 2017
By Isidore Diala Professor Ben Obumselu, who was laid to rest on Friday June 9, 2017, at his hometown, Oba, in Anambra State, remarked in a 1990 article: “Every man is a lover and follows the Muse.” He meant to point to the legion of human compulsions and fixations, and placed in hierarchical…
Lifeline— 22nd June 2017
•Thousands of commuters stranded; travellers in desperate search for food, water •We need help from FG, Niger govt cries out By Adams John, Minna The Ilorin-Jebba-Mokwa road is one of the busiest highways in the country. Over 300 trailers and tankers and other smaller vehicles ply the road daily, as it is the only major…
Education Review— 20th June 2017
• A revealing encounter with Nigerians who don’t know the meanings of “whistleblower” and “whistle blowing,” and ones who presume to know • Shocking: They include students of institutions of higher learning From Rose Ejembi, Makurdi, and Bianca Iboma, Lagos In recent times, there has been a lot of hue and cry about “whistle-blowing” and…
Marketing Matters— 30th November 2016
It was a unique gathering of major stakeholders in Nigeria’s marketing industry when the Advertisers Association of Nigeria (ADVAN) rolled out the red carpet to celebrate outstanding achievers at the 2016 ADVAN Awards for Marketing Excellence at the MUSON Centre, Onikan, Lagos, last weekend. The event threw up new champions who would bask in the…
TSWeekend— 19th June 2017
Mavrodi Mondial Movement (MMM) a peer to peer donation community of people helping each other with their SPARE money, recently partnered an NGO, Initiative for Self Esteem Empowerment and Evaluation (ISEE) Inc. in conjunction with Olajumoke Jide Foundation to empower indigent women in Lagos with the sum of #500,000 with a view to alleviating poverty….
All over our cities, especially Lagos and Abuja, streets are named after supposedly deserving Nigerians. I believe this is in keeping with some lines in our National Anthem; that the labour of our heroes past shall not be in vain. However, some of these names are less than honourable. But we still adore…
Hold FG responsible for ethnic hatred The Federal Government should be warned that it would be responsible for the ethnic hatred in the country. We had warned repeatedly that the FG should insist that vendors and newspaper distributors should be warned by Police Commissioners and DPOs to stop selling illegal publications on Biafra, which uses…
Last week, in this column, I shared with you how your attitude determines your altitude. How far you can soar above storms or succeed against daunting odds, especially in a depressed economy, is predicated on your response to problems. Today, I shall discuss a few tips on the marketing of products and services in a…
There is every reason to believe that the Indigenous People of Biafra ( IPOB) whose activities triggered the quit notice given to the Igbo in the North by Arewa youths is elated by the stand of the northern groups. IPOB believes that the Arewa youths, through their declaration, may have, without knowing it, made the…
Taraxacum officinalisWigg. Family- Asteraceae Common names: priest’s crown, monk’s head, irish daisy, lion’s tooth, ewe yarin (Yoruba). A flowering herbaceous plant commonly considered a weed by many gardeners and lawn owners. Dandelion can be found on roadsides, banks and shores of water ways and other areas with moist soils. It grows from generally unbranched taproots…
The title of today’s outing is strictly not an original of mine. It is a recall of when I read that Hollywood saga comprising of the Dream Merchants, the Carpet Beggars and the Inheritors by Sydney Sheldon. The three books in combination are often referred to as a trilogy. But we are not talking about…
TO most of us, the strident calls for heavy investments in the southeast ring hallow and have fallen on deaf ears. Most times, the calls seem very unexciting to some people. It is sometimes utterly discouraging to continuously drum into the ears of wealthy Nigerians to begin to site factories and other businesses in the…
African time, a bastardisation of the global norm and culture in keeping to time, has eaten into every fabric of Nigerian society. From schools, churches, mosques, private and public institutions, late-coming to events has clearly become catholic and has eroded confidence and integrity of the Nigerian way of life and so strangely accepted. With this…
In the executive pronouncement by Lagos State Governor, Mr. Akinwunmi Ambode, during an official on-the-spot assessment of the traffic situation in the state, he directed all Vehicle Inspection Officers (VIO) and the Federal Road Safety Corps (FRSC) to immediately vacate all Lagos State-owned roads with high traffic. From all indications, that pronouncement brought sanity to major…
The matter with religious leaders is that they begin their logic and sentiments with a sense of their own self-righteousness and certainty. It is this sense of self-righteousness that makes the religions a force for social discord. Simply put, the religionists are fixedly certain about a world that is still in a flux. So, next…