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Alleged $40m Fraud: Jonathan’s Cousin, Azibaola Closes Defence

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Robert Azibaola, a cousin to former president, Goodluck Jonathan, has closed his defence in the alleged $40 million fraud charge brought against him by the Economic and Financial Crimes Commission,  His defence team led by Chris Uche, SAN, presented two witnesses before closing its case on February 6, 2019. Azibaola and his company, One Plus Holdings, are facing a two-count charge bordering on money laundering, criminal breach of trust and corruption, before Justice Nnamdi Dimgba, of a Federal High Court, Abuja. They are alleged to have received $40 million from the Office of the National Security Adviser, ONSA, during the tenure of Col. Sambo Dasuki (retd) without any contract agreement. Testifying as the first defence witness, Azibaola, under cross-examination by prosecuting counsel, Sylvanus Tahir, had on February 5, 2019, admitted that there was no formal contract between his company and ONSA. He had also told the Court that his company wrote to the NSA, “but it was not a memo to initiate the agreement, but a memo to carry out the assignment”. The “assignment”, according to him, was “discreet in nature”, and “it was meant to take care of people sabotaging the nation”. Specifically, he said, the money was meant for “a specific assignment to resolve issues relating to oil bunkering and theft in the Niger Delta, and it was used for that”. Before closing its case, Uche presented the second witness, Iyeryfama Jaja, a businessman, and a subcontractor with Monier Construction Company, who narrated how his group benefitted from N5 million out of the $40 million. In his evidence-in-chief, Jaja told the court that sometime in June 2014, one Wellington from One Plus Holdings, approached him and explained to him that Azibaola had a business deal for the people in the creeks. He said: “The government wanted us to leave pipelines where multinational companies have their pipes, mostly where there is spillage that comes from the pipe in the creeks of the Niger Delta region. “When we get this oil, we create a manual canal to the point where we have an oven to extract the oil products. “Immediately I was offered the proposal, I swung into action by convincing a number of people to leave the alleged illicit act of diverting crude and a number of people who wanted to leave the business submitted their names. “The names were forwarded to Wellington in anticipation of the compensation to leave the business.”  He added that two weeks later, Wellington came back to ask for their bank account details, which none of them claimed to have; he however, told the representatives from One Plus Holdings to “bring cash if you mean business”. He further told the court that there were other units, but in his unit they were 13 in number with him being the unit commander. Jaja, however, disagreed with the court of being labelled as “oil bunkerers” arguing that “we were not oil saboteurs, we were only taking care of the waste that was destroying the environment”. According to the witness, One Plus Holdings later visited each group in the units for security reasons and shared the money according to their responsibilities. Jaja further explained to the court that his group was the first beneficiary to receive N5 miilion, and that he personally received that of his unit which he shared. “I don’t know how much other groups got, but I am aware that everybody got something and left the creek,” he added. Explaining further, Jaja said he collected the money and settled his boys, adding that he received N500,000 and gave the balance to his second-in-command, who shared the rest of the money according to their ranks. Confusion trails Teleology’s alleged withdrawal from 9mobile But when the defence counsel asked if he received any receipt, he said that he was not issued with any receipt, noting that the only document he signed was a document from One Plus Holdings acknowledging the receipt of N5 million. “Wellington never told me the source of the money, but all he said was that the money was from the Federal Government of Nigeria,” he added. Under cross-examination by Tahir, he was asked to sign on a piece of paper to establish credibility on the document. Jaja signed on a paper, which was thereafter, tendered as an evidence and admitted as Exhibit 36. He admitted that he was one of the beneficiaries of Amnesty International from the beginning when the programme started, adding that he also benefitted from the money given by One Plus Holdings. The case has been adjourned to February 28, 2019.

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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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