Senator Peter Nwaoboshi, the lawmaker representing Delta North in the National Assembly, who has been on the run months after the Court of Appeal Lagos Division convicted and sentenced him to seven years imprisonment for money laundering, is finally in prison custody. He was intercepted by operatives of the Economic and Financial Crimes Commission, EFCC, at a Hospital in Lagos on Monday, February 6. Subsequently, the lawmaker was remanded in Ikoyi Custodial Centre today, February 8, 2023, to begin his prison term. Recall that the Court of Appeal had in a judgement delivered on July 1, 2022, sentenced him to…
Author: Funke
The Supreme Court of Nigeria on Wednesday restrained the Federal Government and the Central Bank of Nigeria, CBN, from enforcing the February 10 deadline for the phasing out of N200, N500 and N1000 old Naira notes. The apex court in the country in a unanimous decision by a seven-member panel halted the implementation of the demonetisation policy of the CBN. The ruling followed a suit that was filed by three Northern States; Kaduna, Kogi and Zamfara States. A five-member panel of the court, led by Justice John Okoro held that it was a matter of urgent national importance that the court intervenes and…
There might be more disruption to banking activities as workers are more worried about their safety. This is coming in the heels of recurring attacks on banks and staff. This according to the National President of Association of Senior Staff of Banks, Insurance And Financial Institutions, ASSBIFI, Comrade Olusoji Oluwole. In a press statement, the Association absolves its members from the current cash crunch saying the situation is beyond their control. The statement added that bank workers have been dispensing whatever cash is available and expressed sadness that its members are becoming a subject of attacks. Below is the statement…
The Inspector-General of Police, Usman Alkali Baba, on Tuesday ordered the posting/redeployment of Deputy Inspectors-General of Police, DIGs, Assistant Inspectors-General of Police, AIGs, and Commissioners of Police, CPs, to Departments, Commands, and Formations. A statement signed by Force Public Relations Officer, CSP. Olumuyiwa Adejobi said this posting is with immediate effect. DIG Danmallam Mohammed, has been redeployed to the Department of Finance and Administration. Assistant Inspectors-General of Police have also been posted to take up the duties and responsibilities of the Deputy Inspectors-General of Police in charge of the following Departments of the Force as indicated against their names; to…
The Managing Director/Chief Executive Officer of Fidelity Bank Plc, Nneka Chinwe Onyeali-Ikpe has been sentenced to six weeks imprisonment over disobedience of a garnishee order of court restraining the bank from allowing a judgement debtor access to his account. This verdict was delivered by a Chief Magistrate Court Magistrate Lateef Owolabi at Ogba Magustrate Court in Lagos on Monday. Sentenced alongside the bank boss was the bank secretary, Ezinwa Unuigboje. He gave the sentence sequel to a garnishee order he gave on December 6, 2022 asking 16 banks not to allow a judgement debtor, Prince Enabulele Ozaze access to his…
For failing to load the Automated Teller Machines, ATMs, of his commercial bank despite having N29 million of the redesigned Naira notes in the bank’s vaults, an Operations Manager whose name and bank’s identity was withheld has been arrested and taken for questioning in Abuja. This information on Monday credited to the Spokesperson of the Economic and Financial Commission, EFCC, Wilson Uwujaren, said the bank official was whisked away for further questioning by the agency’s operatives. He was however taken away, not without the operatives ordering the loading of all the ATMs and the payment of the stipulated amount across…
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has been committed to prison for disobeying court order. The court also directed the Inspector-General of Police to effect Bawa’s arrest and remand him in Kuje prison for the next 14 days until he purges himself of the contempt. Justice R.O. Ayoola of the Kogi State High Court, in his judgement on Monday, granted the application for committal to prison of the EFCC chairman for disobeying a court ruling delivered on November 30, 2022, wherein the EFCC chairman was directed to produce the applicant in the case, Ali Bello.…
The International Law Association, ILA, Arbitration Committee (Nigeria) hosted its Rise To Professional Stardom Series, RPSS, on February 2, 2023, with its keynote speaker and renowned international arbitrator, Dorothy Ufot, SAN. In his opening remarks, the Committee’s Chairman, Tolu Aderemi, noted with concern the not-too impressive active play of African arbitrators in the global space. According to Aderemi, there is the erroneous perception that some African arbitrators lack integrity and this is what accounts for parties to prefer foreign appointment into arbitration panels. He however made the emphatic point that this perception is wrong and must be corrected. “Nigeria has…
The Governor of Lagos State, Mr. Babajide Sanwo-Olu and Hon. Abike Dabiri-Erewa, the chairman of the Nigerians In Diaspora Commission, NiDCOM, and other dignitaries are to grace the maiden edition of the national migration summit of the Journalists International Forum For Migration JIFORM, taking place on February 9 at the Lagos Airport Hotel, Ikeja. This information was made available to the CASEFILE by the president of the JIFORM, Dr. Ajibola Abayomi, in a statement. According to Dr. Ajibola, the governor has been invited to unveil the summit while Dabiri-Erewa, would deliver a keynote address on the Diaspora benefits to the…
By Dennis Isong The most common investments that can fetch you a lot are Cryptocurrency and Real estate. So, when you mention investment, these are the two that easily come to mind. Over the years, both have proven to be worthy choices, meanwhile, this is not to say that each doesn’t have advantages and disadvantages. However, if you are perplexed about where to put your money, you may seek the assistance of your financial advisor. Let’s talk about real estate. What is real estate investment? Real estate investment is the purchase, management, and sale or rental of real estate with…