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“I Was Investigated For Being Privy To Illicit Transfer Of Funds,” — Obanikoro Admits

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A former Minister of State for Defence, Sen. Musiliu Obanikoro, today  admitted before a Federal High Court in Lagos that he was investigated by the Economic and Financial Crimes Commission (EFCC) for being privy to illicit transfer of funds. Musiliu Obanikoro Obanikoro made the statement while giving evidence in the criminal trial of the immediate-past Governor of Ekiti State, Ayodele Fayose, facing charges of an alleged N6.9billion fraud. Fayose was arraigned by the Economic and Financial Crimes Commission (EFCC) on Oct. 22, 2018, alongside a company, Spotless Investment Ltd, on 11 counts. He, had pleaded not guilty to the charge, and the court had granted him bail in the sum of N50million, with one surety in like sum. Trial had commenced on Nov. 19, 2018, with the EFCC calling four witnesses, while the court had then adjourned for continuation of trial. On Tuesday, Mr Rotimi Jacobs (SAN) appeared for the EFCC, while Messrs Ola Olanipekun (SAN) and Olalekan Ojo (SAN) represented the first and second defendants, respectively. Obanikoro, the fifth prosecution witness, who began his evidence on Jan. 21, and was cross-examined on Feb. 4, mounted the witness box in continuation of his cross-examination. Under cross-examination by the second defence counsel, Mr Olalekan Ojo (SAN), Obanikoro told the court that during his tenure as a Commissioner in Lagos in charge of Home Affairs and Culture, he had interfaced with various security agencies in the discharge of his duties. According to him, he had sourced for a security outfit known as Silva Mcnamara, owned by one Kareem Taiwo, to the Office of the National Security Adviser (NSA), when the need arose to provide for security operations in Lagos State. He said that the outfit performed credibly and did a good job. Ojo then asked the witness, “you said Kareem Taiwo did a good job,’’ witness replied “Yes’’. Ojo: “Then are you not surprised that a petition was still written by the NSA against both of you, for having gotten money from the NSA illicitly.’’ Obanikoro replied in the affirmative and added: “And I state that I deserve a medal of honour for the great work I did in securing Lagos State then’’. Ojo: “’Am sure you are aware of the offences you were alleged to have committed, for which you were granted bail by the EFCC,’’ witness replied `Yes’. Defence counsel then asked the witness to tell the court the offence. Obanikoro replied: “It was based on a petition sent by the NSA that about N4.6 billion or thereabout was sent in an account operated by me, without proper documentation’’. Defence counsel: “Will I be right to say that the allegations consisted of fraud’’. Witness: “Until I see it’’. Defence Counsel asked: “Are you still on Administrative bail?’’ Witness replied: “Well, I have not been discharged, to the best of my knowledge’’. Defence counsel: “It was also alleged that there were no approvals for the funds alleged to have been transferred to a number of companies listed in exhibit I, including Silva Mcnamara,’’ the witness replied: “correct’’. Defence counsel: “So I suggest to you that at all material time, you were being investigated to have been privy to the illicit transfer of funds’’. Witness: “Correct’’. Defence counsel: “Till today, the allegation of illicit transfer of funds has not being withdrawn against you by the EFCC’’. Witness: “To the best of my knowledge, you are correct’’. Defence counsel: “Did you produce any document to show the relationship between Kareem and the Office of the NSA, contrary to allegations that the NSA does not know him?’’ The witness replied: “No’’, and added that the Office of the NSA had responsibility for coordination of security across the nation, some of which are clandestine and not documented. On who gave instructions to Diamond Bank for the release of N1.2 billion, Obanikoro replied that “I was the only person that gave instructions to the bank’’. Defence counsel: “Can you tell the court by what means you gave the instruction and to whom?’’ Witness: “Verbally, to the then MD of Diamond Bank, Mr Oti’’. Defence counsel: “Was there any time your verbal instruction was reduced into writing?’’ Witness: “No’’. Defence counsel: “So, I suggest to you that what you are telling this court is that there is no written record for the release of N1.2billion by the bank’’. Witness: “Because of the nature of the job’’. Defence counsel: “Look at exhibit E9 -E11’’ and mention the names of the Directors of Silva Mcnamara’’. Witness : “Ezekwe Ikenna, Oshodi Idowu, and Adebiyi Elizabeth’’. Defence Counsel: “Who owns House 9, Layi Bembem, Parkview. Ikoyi,’’ witness: “That is my house’’. Ojo then said, I suggest to you that Ikenna Ezekwe lived in that house at one time or the other,” Witness: “Correct’’. Subsequently, Ojo sought to tender an extra judicial statement made by the then SA to Obanikoro, Mr Justin Erukaa, and the Prosecutor raised an objection. Following the objection by the prosecution, Justice Mojisola Olatoregun adjourned the case until Feb. 6 by 9: 00 a.m., for counsel to address the court on the admissibility of an extra judicial statement. According to the charge, on June 17, 2014, Fayose and one Agbele were said to have taken possession of the sum of N1.2 billion, for purposes of funding his gubernatorial election campaign in Ekiti State, which sum they reasonably ought to have known formed part of crime proceeds. Fayose was alleged to have received a cash payment of the sum of five million dollars, (about N1.8 billion) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution and which sum exceeded the amount allowed by law. He was also alleged to have retained the sum of N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds. Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith and FCMB accounts, the aggregate sums of N851 million, which they reasonably ought to have known formed part of crime proceeds. Besides, the accused was alleged to have used the aggregate sums of about N1.6 billion to acquire properties in Lagos and Abuja, which sums he reasonably ought to have known formed part of crime proceeds. The accused was also alleged to have used the sum of N200 million, to acquire a property in Abuja, in the name of his elder sister, Moji Oladeji, which sum he ought to know also forms crime proceeds. The offences contravene the provisions of Sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act, 2011.

 

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NiMet And FUPRE To Partner On Weather Observation, Research And E-Learning

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NiMet And FUPRE To Partner On Weather Observation, Research And E-Learning

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Nigerian Meteorological Agency (NiMet), is to collaborate with the Federal University of Petroleum Resources Effurun (FUPRE),Delta state, on weather observation, research and e-learning.

Left to Right: Professor Charles Anosike, Director-General and Chief Executive Officer of NiMet, and Professor Akpofure Rim-Rukeh, Vice Chancellor, Federal University of Petroleum Resources Effurun (FUPRE), Delta state, at the signing of a Memorandum of Understanding (MoU), between NiMet and the university on Thursday, 16th May 2024.

This was disclosed by the Director-General and Chief Executive Officer of NiMet, Professor Charles Anosike, on Thursday, 16th May 2024, at the signing of a Memorandum of Understanding (MoU), between NiMet and the university.

Professor Anosike observed that oil companies have weather stations spread across the shores of Nigeria, which are illegal according to the new NiMet Act. He said that these weather stations need to be registered with NiMet in compliance with NiMet Act and solicited the collaboration of the University to achieve this.

Speaking further, Professor Anosike noted that the partnership with the petroleum institution will not only help improve data gathering on climate risk in the area, but also strategically make NiMet become the centre of excellence in disseminating the risk to the oil and gas sector.

“I will like the Federal University of Petroleum Resources Effurun (FUPRE), to take advantage of NiMet’s e-learning services that will soon be unveiled. It would actually fast-track introduction of joint courses between FUPRE and NiMet”, Professor Anosike concluded.

On his part, the Vice Chancellor of FUPRE, Professor Akpofure Rim-Rukeh disclosed that the institution expects support from NiMet in the installation of observatory stations, training personnel on generation of weather data that can support research, journals and academic publications and other good interventions that will impact on the university and its environment.

Amongst other things, the MoU aims to establish a collaborative framework between NiMet and FUPRE for joint efforts in research, training and promotion of activities relating to meteorology/climatology and climate change in Nigeria. Specifically the MoU will have NiMet Install its observatory station known as Resident Observatory Station (ROS) in suitable locations within FUPRE for the purpose of carrying out meteorological activities.

The MoU signing was witnessed by the Director, Legal Services of NiMet, Barr. Shola Gabriel and other staff of the Agency. The Vice Chancellor of FUPRE, Professor Akpofure Rim-Rukeh signed on behalf of the Federal University of Petroleum Resources Effurun (FUPRE) , Delta state, while Professor Anosike signed on behalf of NiMet.

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Tax Conference: Sanwo-Olu, Zulum, Amosun, Other Experts Seek Transparent Tax System to Boost Internally Generated Revenues

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Tax Conference: Sanwo-Olu, Zulum, Amosun, Other Experts Seek Transparent Tax System to Boost Internally Generated Revenues

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Lagos State Governor, Mr. Babajide Sanwo-Olu, and his counterparts from Sokoto and Borno States have emphasised the need to make the country’s tax system more transparent and accountable to Nigerians to boost confidence and voluntary compliance.

The governors made the call at the ongoing 26th Annual Tax Conference organized by the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, with the theme, “Sustainable Tax Culture and Economic Roadmap for Nation Building”.

Speaking at the conference, Governor Sanwo-Olu who was represented by his Special Adviser on Taxation and Revenue, Mr. Abdul-Kabir Opeyemi Ogungbo, said the theme of the Conference was apt and timely given that Nigeria, like many other nations, is currently facing significant economic challenges.

While underscoring the crucial role of a transparent and efficient tax administration in fostering confidence and voluntary compliance among taxpayers, he emphasized the necessity for citizens to witness tangible outcomes from their tax contributions, highlighting the pivotal role taxes play in fueling public services and infrastructural development.

Sanwo-Olu stressed the shift in mindset needed, urging taxpayers to view tax payments not as a burden but as an investment in a better future for Nigeria.

He said building a strong and sustainable future through a robust tax system that fosters economic growth and development had become inevitable.

Sanwo-Olu said, “We must all understand the crucial role taxes play in building a better Nigeria for ourselves and for generations to come.

“The theme also highlights the need for a clear economic roadmap which should take note of the architecture of our developmental ideologies as they are designed to provide the government with the necessary resources to cater for the social needs of its citizens, therefore we need a tax system that incentivizes investment, job creation, and economic diversification.

“We need to explore innovative ways to expand the tax base while fostering a business environment that allows our economy to thrive. The good news is that Nigeria is already taking positive steps in these directions. The recent efforts to streamline state-level taxes and the focus on integrating the growing remote workforce into the tax net are commendable initiatives.”

The governor said, “The CITN plays a vital role in fostering this vital shift. Your commitment to professional excellence and education is instrumental in ensuring a tax system that is fair, efficient, and promotes economic development.”

However, former Governor of Ogun State, Senator Ibikunle Amosun, who declared the conference open, while stressing the need to prioritize growing Internally Generated Revenue (IGR) over relying solely on borrowing to fund national and sub-national budgets, said borrowing to fund the budgets was not the way to go amid the current national economic challenge when “our nation and its constituent states and local governments are going through very difficult times and finding it hard to provide for its teeming populace, acceptable standards of living, employment with the growing population of youths, infrastructure and basic amenities that will make life more meaningful”.

Governor Babagana Zulum of Borno State criticized inefficiencies and corruption in the current tax administration system.

Zulum, represented by the Deputy Governor of Borno State, Umar Kadafur, highlighted the shortcomings of the current tax system, including tax evasion, avoidance, and lack of transparency.

He called for critical reforms to address these issues, including tackling corruption in both the oil sector and governance system. He criticized the political protection of tax evaders and emphasized the importance of transparency and accountability in tax administration.

While calling for critical reforms, he lamented the manipulation and connivance of multinationals with tax administration to short-change the system, he added that this represented one of the hallmarks of corruption in both the oil and governance system.

In his remarks, the Governor of Sokoto State, Ahmad Aliyu Sokoto, said the conference will greatly assist in exploring innovative ways of improving revenue generation in the country.

He said the economic and revenue challenges had made it difficult for governments at all levels to implement their people-oriented programmes, thus the need for the government to devise a means for more funds to provide the dividends of democracy to the people.

The governor said taxation remained a veritable source of resource mobilization for the government adding that his administration would work with CITN to boost IGR in the state.

The Auditor-General for the Federation (AuGF), Mr. Shaakaa Chira, said the country’s tax system was plagued by instances of tax evasion especially by the upper class, multiple taxation and inability to properly account for taxes collected by administrators.

The Chairman of the conference planning committee, Dr. Adeyemi Sanni, noted that for Nigeria to achieve meaningful fiscal development over the long term, it is imperative to establish a tax culture that can withstand economic fluctuations and challenges.

President and Chairman of the CITN council, Mr. Samuel Agbeluyi, emphasized the importance of investing in technology and people at the subnational level to effectively track revenues in the digital space, including cryptocurrency. This, he believes, will help maximize government revenue flow.

Mr. Agbeluyi stressed the need to provide support to revenue authorities through financial and administrative autonomy, empowering them to effectively administer taxes as he noted it is clear that a strategic approach to revenue management is crucial for the overall financial health of the government.

The CITN boss stated further, “This is a thought-provoking topic that requires all of us to put on our thinking hats. As we deliberate, we must recognize that our nation faces significant challenges. Our current economic realities as a country are multifaceted, despite efforts to improve the narrative by the current government.

He said, “The 2024 budget of “Renewed Hope” as we know relies significantly on non-oil revenue, and this trend is expected to continue in the future. Therefore, building a sustainable tax culture capable of significantly improving our tax revenue performance for an effective. economic and capital formation becomes a top priority.”

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Nigeria DigitalSENSE forum @15, gets June date

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Nigeria DigitalSENSE forum @15, gets June date

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The date for the 2024 Nigeria DigitalSENSE Forum on Internet Governance for Development (IG4D) has been unwrapped for Thursday, June 27, by organisers, ITREALMS Media group.

Disclosing this, the Lead Consulting Strategist, DigitalSENSE Africa and Group Executive Editor, ITREALMS Media, Mr. Remmy Nweke, said that this year’s edition marks the 15th edition of Nigeria DigitalSENSE Forum on IG4D series and comes with the theme “IG4D: Innovative Digital Economy & Safer Civic Space in Nigeria” at the prestigious Welcome Center Hotels, International Airport Road, Lagos.

Nweke recalled that in 2009, the Nigeria DigitalSENSE Forum (NDSF) series on Internet Governance for Development made a debut and ever since has been steadfast in rallying stakeholders to take discourse on Internet access, openness, affordability, connectivity and ICT infrastructure among others.

This year, he also said, as NDSF marks 15th years of impacting various Nigeria’s economic sector with yet another series on the theme: IG4D: Innovative Digital Economy and Safer Civic Space in Nigeria.

“It will also be a time for recognition of corporates and individuals for their contributions in deepening Internet penetration, improving access and affordability as well as technological adaptation that begets digital sense in our society,” Nweke said.

NDSF series on IG4D, powered by ITREALMS Media group is hosted by DigitalSENSE Africa, an At-Large Structure (ALS) certified by the Internet Corporation for Assigned Names and Numbers (ICANN), in collaboration with relevant stakeholders including Internet Society (ISOC), Nigeria chapter, Nigerian Communications Commission (NCC), Internet Exchange Point of Nigeria (IXPN) among others.

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