News

Another More Suspicious Fund Allegedly Found In CJN Onnoghen’s Account

Published

6 years ago

January 23, 2019

Eniola Olayemi

Detectives may have found more “suspicious” funds in Chief Justice of Nigeria (CJN) Walter Onnoghen’s accounts, The Nation has learnt.

There are also “suspicious” transactions, including an $800,000 Standard Chartered Bank investment subscription, sources said.

Also found is $630,000 lodged in some of the accounts through what is described as “structured payments” in tranches of $10,000 each.

Most of the lodgments, affected between 2012 and 2016, were undeclared in Justice Onnoghen’s assets declaration form, the sources claimed, pleading not to be named because of the “sensitivity” of the investigation.

The Nigerian Financial Intelligence Unit (NFIU) has restricted the operation of five accounts with about $3million

The accounts in the Standard Chartered Bank are USD No. 870001062650; Euro account No. 93001062686; Pound Sterling A/CNo. 285001062679; e-Saver Savings (Naira) account No. 5001062693; and a Naira A/C No. 0001062667.

Detectives believe that most of the lodgments and transactions are “suspicious”.

The Nation has stumbled on an intelligence report on the CJN’s accounts, which reads in part: “Pattern of structured payments of $10,000.00 each in 2012. For example, a total of $630,000.00 was credited to the accounts using this pattern.

”Similarly structured payments of $10,000.00 amounting to $297,800.00, $50,000.00 and $36,000.00 were deposited in the account in 2013, 2015 and 2016 respectively.

“There was also a credit of $121,116.00 into the account from 2014 to 2016 from Life Friend Plc. The payments were in four installments, of $30,279.00 each. These payments suggest the suspect has investments.

“A payment at $482,966.00 from Alicia Redemption Pro and shortly after, $800,000.00 was invested in SCB Investment subscription. We are in the process of verifying these transactions;

“Other suspicious transactions in the account are credit of $19,764.00 from Pur of Noble and seven (7) payments of $3,250.00, each amounting to $22,750.00 from Lloyds TSB.

On the pound sterling (GBP), the investigative team discovered “a self- transfer of £40,268.40 into the

Account on May 31 2016.”

“There were also self-deposits by the suspect of £49,760.00 from July 2015 to September, 2016

but the balance as at September 30, 2016 was £108,348.00,” the report added.

Regarding the Naira account, the report said: “The following highlights some of the suspicious activities in the account: A transfer of N41, 262.000.00 ($260,000) was made from the dollar account. The money was used to make payment of N41million to Ad hoc Committee on the Sale of Federal Government Houses, suggesting that he bought a property with proceeds of the transfer;

“The only other significant transactions in the accounts are six (6) structured cash payments of N500,000.00 each and one payment of N700,000.00 amounting to N3.7mlllion from November, 2013 to August, 2016.

All the transactions, sources said, are being investigated whether or not they violated the “Revised Code of Conduct for Judicial Officers of the Federal Republic of Nigeria” which was put in place by the National Judicial Council.

Sections 7 and 13(4and5) of the Code of Conduct deal with financial interests.

Section 7 reads: “7.1 A Judge shall inform himself or herself about his or her personal and fiduciary financial interests and shall make reasonable efforts to be informed about the financial interests of members of the Judge’s family in respect of matters for adjudication before him.

“7.2 If it appears in respect of a matter before him or her, that the Judge, or a member of the Judge’s family or other person in respect of which the Judge is in a fiduciary relationship, is likely to benefit financially, the Judge has no alternative but to withdraw from the case.

“7.3 For the purpose of this rule, “Financial interest” includes ownership of a legal or equitable interest, however small, or a relationship as director, advisor, or other active participants in the affairs of an institution or organization. The following are not to be regarded as financial interests:

The proprietary interest of a policy holder in a mutual insurance company, unless the outcome of any proceeding could substantially affect the value of the interest.
Ownership of government securities unless if the outcome of any proceeding could substantially affect the value of the security.

“For the purpose of the Rules contained in this Code –

(a) “Fiduciary” includes such relationships as executor, administrator, trustee and guardian;

(b) “financial interest” means ownership in a substantial manner of a legal or equitable interest, or a relationship as director, adviser or other active participation in the affairs of a party except that:

(i) ownership in a mutual or common investment fund which holds securities, unless the Judicial Officer participates in the management of the fund;

(ii) an officer in an educational, religious, charitable or civil organization is not a “financial interest” in securities held by the organization;

(iii) the proprietary interest of a policy holder in a mutual savings’ society or similar proprietary interest, is a “financial interest” in the organization only if the outcome of the proceedings could substantially affect the value of the interest; and

(iv) ownership of government securities is a “financial interest” in the issues only if the outcome of the proceedings could substantially affect the value of the securities.”

Section 13.4 and 5 deal with Business and Financial Activities of judges.

Section 13. 4 says: (i) A Judicial Officer may own investments and real property PROVIDED that in the management of his investments, he shall not serve as an officer, director, manager, general partner, adviser or employee of any business entity.

(ii) Otherwise permissible investment or business activities are prohibited if they:

(a) Tend to reflect adversely on judicial impartiality,

(b) Interfere with the proper performance of judicial duties,

(d) Involve the Judicial Officer in frequent transactions with legal practitioners or with people likely to come before the Judicial Officer’s court.

13.5 Acceptance of Gifts

A Judicial Officer and members of his family shall neither ask for nor accept any gift, bequest, favour or loan on account of anything done or omitted to be done by him in the discharge of his duties.

A Judicial Officer is, however, permitted to accept:

(i) Personal gifts or benefits from relatives or personal friends to such extent and on such occasions as are recognized by custom.

(ii) Books supplied by publishers on a complimentary basis.

(iii) A loan from lending institution in its regular course of business on the same terms generally available to people who are not judicial Officers;

(iv) A scholarship or fellowship awarded on the same terms applied to other applicants.”6

News

ASR AFRICA HOLDS GROUNDBREAKING CEREMONY FOR A N250 MILLION ABDUL SAMAD RABIU MEDICAL SCIENCE LABOURATORY FOR CRESCENT UNIVERSITY

Published

2 weeks ago

February 26, 2025

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

ASR Africa has commenced the construction of a N250 Million medical science laboratory for Crescent University, Abeokuta in Ogun State.

From Right: Mr. G. T. Ogunmefun (University Acting Bursar); Barr. A. M. Ajiobla, SAN (Proprietor); Prof. Ibraheem Gbajabiamila (Vice- Chancellor); Dr. Ubon Udoh (MD/CEO, ASR Africa); Barr. Z. A. Ajibola (Registrar) and Prof. M. K. Momodu (Dean, College of Law) at the ground breaking ceremony of the Medical Science Laboratory for Crescent University, Abeokuta.

August24news.com gathered that the laboratory will enhance the capacity of the institution in meeting the National Development Plans and Transformational Agenda (NDTA) of the Federal Government of Nigeria, whilst filling the gap created by laboratory scientists who have left the country recently.

Speaking at the ceremony, the Vice Chancellor of the University, Prof. Ibraheem Gbajabiamila, expressed gratitude for the institution’s nomination by ASR Africa under its Tertiary Education Grant Scheme (TEGs).

He applauded ASR Africa for the award of the grant and noted that the project is the university’s topmost priority, considering its drive to expand its College of Health Sciences programs.

In his response, the MD CEO of ASR Africa, Dr Ubon Udoh, commended the management of the university for their academic achievements and systematic growth which is evident by the addition of three new colleges recently.

These colleges include the College of Environmental Sciences (COES), Bola Ajibola College of Law (BACOLAW) and the College of Health Sciences (COHES). Dr Udoh reiterated the commitment of ASR Africa in ensuring a timely completion of the project.

The N250 Million grant will provide fixtures and fittings for the medical science laboratory which features a 300 sitting capacity auditorium, offices for Head of Departments and lecturers, lecture /seminar rooms.

It will also cater as laboratories facility for Medical Laboratory Science, Medical Biology, Hematology, Pharmacology/Therapeutics and Chemical Pathology.

The ASR Africa Tertiary Education Grant Scheme is targeted at supporting quality education within the tertiary education system in Nigeria and so far over 30 tertiary institutions in Nigeria have benefitted from this grant which ranges from N250 million to N 2 billion.

ABOUT ASR AFRICA
The brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

News

Seplat Energy Clinches ‘Deal of the Year’ at New Telegraph Award

Published

2 weeks ago

February 26, 2025

august24admin

Seplat Energy Clinches ‘Deal of the Year’ at New Telegraph Award

AJAGBE ADEYEMI TESLIM

News

Olusunle, Now Fellow Nigerian Mining & Geosciences Society (FNMGS)

Published

2 weeks ago

February 26, 2025

august24admin

…As Society Celebrates 64 Years of Existence

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

A research Director of the National Agency for Science and Engineering Infrastructure (NASENI), Engr. Dr. Samuel Olugbenga O. Olusunle has been conferred with the prestigious Fellow of Nigerian Mining and Geosciences Society (FNMGS), one of the oldest professional bodies in the history of Nigeria.

NASENI Research Director, Engr. Dr Samuel Olugbenga O. Olusunle, FNMGS, (right) receiving the Conferment Award plaque and Certificate from Prof. Akinade Sadrach Olatunji, the President of the Nigerian Mining and Geosciences Society(NMGS)(left) during the Awards Night which took place at the Chida International Hotels Abuja on Wednesday 19 February 2025.

The Nigeria’s late sage, Pan Africanist and President during the First Nigerian Republic Dr. Nnamdi Azikiwe was the first patron of the Nigerian Mining and Geosciences Society.

The Society yesterday in Abuja concluded its 60^th Annual International Conference and Exhibition (AICE), and it was time for the body to honour and recognize its members who had contributed tremendously not only to the growth and development of the Mining and Geosciences profession in the country, but the accomplishments of the honourees having direct bearing on the general socio-economic development of the country.

The event which was held between 16^th to 19^th February 2025 at the Chida International Hotel Abuja, came to a climax with Awards Night and recognition. Dr. Olusunle and 42 other members were honoured with the prestigious fellow category, which is the highest election attainable in society.

This conferment has added new appellation to Engr.Dr. Olusunle’s name as FNMGS. In 1977, the Nigerian Mining and Geosciences Society (NMGS) succeeded the Nigerian Mining Geological and Metallurgical Society (NMGMS) which was founded on 15th January 1961 and officially inaugurated on 17th December, 1962.

The society is an international professional organization. Its Objectives include: Advancement and practice of Mining, Earth sciences and Metallurgy, Acquisition, preservation and dissemination of mining geoscientific and metallurgical knowledge, publication of an interdisciplinary learned journal of Mining and Geology (JMG), the CRUST, periodicals and specialized books including annual books of abstracts and programmes of the society’s conferences and activities and upholding the ethics and safeguarding the interests of the professionals covered by the society.

The society also has statutory representation in the council of the Nigerian Mining Engineers and Geoscientists (COMEG) established by the Federal republic of Nigeria Decree No. 40 of 1990. The categories of membership are Fellow, Corporate, Graduate, Students, Affiliate, Institutional and Honorary fellow, the highest of all is the Fellow category.

When asked to speak on the significance of the society’s recognition to him and NASENI where he serves as Director Research, a highly elated Olusunle had this to say: “I give God the glory and I am really humbled to be elected FELLOW of NMGS. It should be noted that the mandate of NASENI and the core concerns of NMGS are knittingly related. NASENI has one of its institutes operating within the purview of solid minerals exploitation (SOMMEDI).

NASENI also under wonderful leadership of the EVC/CEO, Khalil S. Halilu, is actively involved in the CNG project of the Federal Government. These and other notable activities/intervention of NASENI are collaborative windows between the agency and NMGS”.

Before he became research director, Dr. Olusunle was former Managing Director, Engineering Materials Development Institute (EMDI) Akure, one of NASENI Development Institutes. Also, he is a FELLOW of the Nigeria Institute of Mechanical Engineers (NIMechE), the Materials Science and Technology Society of Nigeria (MSN), the Nigeria Society of Engineers (NSE), The Nigeria Institute of Management (NIM), The Nigerian Metallurgical Society (NMS)and many others.