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Fayose’s Trial: Obanikoro Admits He Was Suspect

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The trial of the immediate past Governor of Ekiti State
, resumed on Monday before a Federal High Court, Lagos, with a prosecution witness, Sen. Musiliu Obanikoro, admitting he was a suspect and investigated. Obanikoro, a former Minister of State for Defence, was cross-examined by defence counsel, Chief Kanu Agabi (SAN). Fayose was arraigned by the Economic and Financial Crimes Commission (EFCC) on Oct. 22, 2018, alongside his company, Spotless Investment Ltd. on an 11-count charge bordering on N6.9 billion fraud. He pleaded not guilty to the charge, and was granted bail in the sum of N50 million with one surety in like sum. The EFCC opened its case on Nov. 19, 2018, and has so far called five witnesses. Obanikoro, the fifth prosecution witness began evidence on Jan. 21, saying that Fayose received five million dollars and some amounts of naira from the impress account of a former National Security Adviser (NSA), Col. Sambo Dasuki, in June 2014. The court adjourned until Monday for his cross examination. Mr Rotimi Jacobs (SAN) appeared for the EFCC on Monday while Agabi and Olalekan Ojo (SAN) represented Obanikoro and Spotless Investment, respectively. On cross-examination by Agabi, Obanikoro admitted that there was a long time between when he was invited for evidence and when he finally came. He also admitted that he was a suspect and investigated when he made a statement to the EFCC. When told that he made the statement in self-defence, he said: “I gave evidence of what transpired; I was stating the truth and nothing but the truth.” He testified that he was investigated about funds disbursed through the Office of the National Security Adviser. “I was in custody for 21 days.” When asked how many statement he made when in custody, the witness replied that he made several statements but could not remember how many. He told the court that his investigation did not result in confiscation of his property. When  told that, from his statement, he did not say that the accused requested him to contact the NSA, he said:  “That is correct.” He admitted  that N1.3 billion was brought in bullion van by Diamond Bank on the instruction of the NSA. Obanikoro testified that his statement -exhibit G – was made in answer to a petition against him by the NSA, complaining that a company,  Silver Macnamara, collected funds for which no contract was executed. The witness said that the former NSA  orally requested him to furnish that account. “If that was the case, why would the NSA turn around to petition you, ” Agabi asked. Obanikoro told the  court that it was not Dasuki but the current NSA who petitioned him. He told the court that he was aware that his son, Gbolahan aged, 33,  paid N20,000 into the account of Silver macnamara in 2012. “Look at other disbursement and tell the court if some of them are from members of your family,” Agabi told the witness, who replied that he could only his name. Obanikoro testified that N74,000 was  the balance in that account before June 5, 2014 when N200 million was paid into it. “I put it to you that you were the owner of the funds in the account, Agabi said, but the witness replied:  “That’s not true, that’s not correct.” Under cross-examination by Ojo, Obanikoro told the court that the money in the account of silver Macnamara was kept in the bank and not in his custody. You agreed to return the sum of N200 million to the government of Nigeria,” Ojo told the witness, who replied: You are very wrong.” ” As at the time of your statement, exhibit G, the sum of N200 million had been disbursed from the account based on your instructions to the bank,” Ojo added, with Obanikoro replying:  “It was disbursed not once and not twice on my instruction.” Ojo told him that he agreed to refund the N200 million because he ought not to have spent the money the way he did, but the  witness replied: ” That’s not correct; it is because it was intended to secure Lagos.” “So you agreed to return N200 million spent to secure Lagos?” Ojo asked but Obanikoro said: “It was a reluctant agreement.” He testified that he indicated in his statement of Oct. 19, 2016, the purpose of the N200 million he agreed to refund and indicated what it was meant for. When asked whether he  was satisfied with the content of his statement to the EFCC before signing it, he said: “Yes and no.” Ojo told the witness that he did not mention in his statement that Fayose requested to know from him if there was any message from Dasuki, and he said: “Yes.” The witness said that he did not give the EFCC any telephone number with which he  had any discussion with Fayose. On the number of days he spent in Ado-Ekiti, and what he was doing there for the period, the witness replied that he could not recall the number of days spent, but  said he was in the state capital to pursue Fayose’s gubernatorial ambition. ” I suggest to you that you are giving evidence here reluctantly,”  Ojo said, and the witness replied: “It is even painful for me to give this evidence;  I must admit that. “Can you recall that on June 21, 2014, gubernatorial election was held in Ekiti, Ojo asked  but the witnes said: “I can’t recall the date.” The trial will  continue on Tuesday. Justice Mojisola Olatoregun handling the trial, had earlier risen shortly after the court began sitting over the case. She attend an official function and returned an hour later.

 

 

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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