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The Economic and Financial Crimes Commission, EFCC, has frozen over N8, 627,458,773.36 billion in three accounts of an associate and close friend of former first lady, Mrs Patience Jonathan, Hajiya Muinat Bola Shagaya.

According to The Nation report, Shagaya’s relationship with about 10 firms/account names are also being investigated by the EFCC.

The Kwara-born billionaire is however fighting back as the report says she has dragged one of her banks to the High Court of Lagos state for allowing the EFCC to Post No Debit (PND) on her accounts without a valid court order.

She says the action taken on her accounts violates Section34 (1) of the EFCC Act, 2004. Shagaya has since filed a court case via her counsel, Napoleon Emeaso-Nwachukwu and hearing of the matter is slated for Thursday, September 28.

However, the bank says its hands are tied by the law in complying with the EFCC’s directives to freeze Shagaya’s accounts.

The EFCC in a letter to the bank’s managing director in respect of one of the frozen accounts said: “The commission is investigating a case in which the above-mentioned account featured.

“In view of the above, you are requested to kindly check the table below and provide us with Certified True Copies (CTC) of the following information, which should include but not limited to the following:

(i) The deposit slips/telex copies (front and back) that conveyed the authority of the transactions;

(ii) Any investment made with the funds in any of your products which should include fixed/term deposit and their liquidation and the interest incurred, Banks Acceptance, Commercial Papers and any other relevant information in relation to these.

The EFCC listed the transactions in the said account as “N300m(Bola Shagaya RTGS); N300m (Additional N300FTD at 15% TRAN); N500m (Time Deposit); N2,317,013,698.64 (BNG COLLAOS FOR FTD-CUSTOMER ACCOL); N2.3billion (Opening a Time Deposit Account); N292, 495, 029.82 (Withdrawal from Time Deposit); N292, 495, 029.82 (TAK Asset Mgt Limited); N300m (Term Loan booked for 356 days); and N2,025,455,015.08 (BNG COLLAPS OF FTD Customer Account.”

In a separate letter Cr: 3000/EFCC/LS/STF/ STF3MP/ Vol.11/182 which Shagaya made available to the court, the EFCC asked the bank to Post No Debit(PND) on 10 accounts linked with her.

The account names are

(i) First Deep Water Discovery Limited;

(ii) Bola Shagaya;

(iii) FAPLiNs Nigeria Limited

(iv) Lingo Nigeria Limited;

(v) Buri Barclays BDC;

(vi) Links Global Synergy Ltd;

(vii) OKIOIL Nig. Ltd;

(vii) JEMARVIZ Nig Ltd;

(ix) PJ Oil and Gas Ltd; and

(x) AFDIN Ventures Ltd.

The anti-graft commission said: “The commission is investigating a case in which the above mentioned accounts featured.

“You are requested to kindly place the account on Post No Debit (PND) category pending the conclusion of the investigation.

“This request is made pursuant to Section 38(1) and (2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 and Section 21 of Money Laundering (Prohibition) Act, 2011.”

In the third letter, the EFCC said it was looking into two other accounts including Voyage Oil and Gas and Bola Shagaya from 2008 to date.

But Shagaya accused the bank of complicity on her travails following the bank’s alleged failure to exercise the requisite due diligence.

She said the freezing of her accounts did not comply with Section 34(1) of the EFCC Act, 2004.

She specifically referred to the bank’s refusal to allow her to make transactions on Account 000326118 including payment of N514, 800,000 to Global Apex Air Limited, through Heavywind Integrated Services, for the lease of a bombardier Jet.
She said she had lost a lot of business goodwill since her accounts were frozen including

1. The loss of $1,000,000 deposited with Global Apex Air Ltd. Due to her in ability to pay accrued costs in line with Aircraft Lease Agreement which was occasioned by the failure of the Defendant to oblige the Claimant’s payment instruction to Heavywind Integrated Services.

2. Loss of business opportunities and goodwill occasioned by her inability to operate her account domiciled with the Defendant due to its freezing.

3. Loss of reputation occasioned by the Defendant’s wrongful dishonouring of her payment instructions to third parties.

But in a letter to Shagaya’s counsel, the bank said it has a legal and ethical responsibility to render assistance to law enforcement agencies.

“While the bank respects the contractual nature of the relationship with your client, it is without prejudice to the bank’s standing as a responsible law abiding corporate citizen.

“In spite of the bank’s contractual relationship with your client, that relationship is not without a legal and ethical responsibility to render assistance to law enforcement agencies when required of the bank.

“Litigation against the bank will therefore not be necessary in the circumstance,” part of the letter read.

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TRENDING: Another Video Of Gov. Ganduje Receiving Part Of The Alleged $5M Bribe Released

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Another video captured with a spy camera shows Kano State Governor, Abdullahi Ganduje, receiving part of $5m bribe from a contractor.

This is the second of the 15-series trove of video clips obtained by DAILY NIGERIAN.

Daily Nigerian had initially said they have about 15 videos with voice clips and others not including voice recording, the 1st wave was released yesterday & today, 15th of October, the online media platform had done justice to their promise by releasing another video clip of just 15 seconds but shows a lot of activities.

Watch the clip below:

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2019: Buhari’s Minister, Shittu Drags APC To Court

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The Minister of Communication, Adebayo Shittu, has dragged his political party, the All Progressives Congress, APC to court.

The Minister took the legal action after the party disqualified him as a governorship aspirant in Oyo State.

The ruling party stopped the Minister from continuing his gubernatorial race through screening after he failed to present a National Youth Service Corps, NYSC, discharge certificate.

The News Agency of Nigeria, NAN, reports that Shittu in the originating summons argued that it was wrong for APC to disqualify him for not presenting the certificate.

The Oyo-born politician also said that participation in the NYSC scheme was not a condition precedent to be satisfied before he was appointed a minister.

He, therefore asked the court to determine “whether by the provision of Section 2(1) of the National Youth Service Corps Decree No. 24 of 1973 and/or any other provision of the Decree being the law in force as at 1978 when the Plaintiff graduated at the University of Ile-Ife (now Obafemi Awolowo University, Ile-Ife) he was under any legal obligation to have warranted the plaintiff’s participation in the National Youth Service Corps in the absence of a call-up instrument duly served on the Plaintiff by the National Youth Service Corps.

“Whether, by the combined reading of sections 176-183 of the constitution of the federal republic of Nigeria [as Amended] and Article 20(iii) & (iv) of the Constitution of the All Progressive Congress; it is a condition that the gubernatorial aspirant of the 1st Defendant (APC) and/or any political party for that matter in Nigeria must present the National Youth Service Corps Discharge/Exemption Certificate;

”Whether it is ultra vires the powers of the 1st defendant to have disqualified the plaintiff from participating in its primary election for the nomination of the governorship candidate of the 1st defendant in Oyo State for the 2019 General Election on the ground that the plaintiff does not possess National Youth Service Corps Discharge/Exemption Certificate;

”Whether it does not amount to denial of fair hearing as enshrined in section 36(1) of the 1999 constitution of as amended for the 1st defendant to have purportedly disqualified the plaintiff from contesting for governorship election in Oys state under the platform of the 1st defendant without availing the Plaintiff an opportunity to be heard on the allegations that the plaintiff avoided the National Youth Service Scheme; and

”Whether by the combined reading of the provisions of Sections 147(5), 65(1)(b) & (2), 66 (1) of the 1999 Constitution (as amended) and Section 12 of the National Youth Service Corps Act, Cap N84 laws of the Federation of Nigeria 2004, the plaintiff was qualified to have been appointed as a Minister capable of holding the office, and/or any other governmental office at any level notwithstanding the fact that he did not participate in the National Youth Service Corps scheme.”

In an affidavit, the Minister personally swore to and filed by A.U. Mustapha, his counsel, Shittu said there was no “call-up instrument” served on him when he graduated.

“I was liable but not obligated to have participated in the National Youth Service Corps Scheme both at the time I graduated from the said University and as at the time I was called to the Nigerian bar,” the affidavit read.

“I know as a fact that I was also not served any notice or notified in any manner to proceed to participate in the National Youth Service Corps scheme.

“I know as a fact that participation in the National Youth Service Corps programme is not one of the requirements to be satisfied under the 1st defendant’s constitution to enable me to participate in the primary election for Nominating the party flag bearer for the office of governor of Oyo state in the 2019 general election. A copy of the Constitution of the 1st Defendant is hereby attached and marked as ‘Exhibit SHITTU 8’.

“I also know as a fact that under the Constitution of the Federal Republic of Nigeria, 1999 (as amended) it is not a requirement for me to have participated in National Youth Service Corps Scheme to be eligible for participation in the 1st Defendant’s primary election for Nomination of its flag bearer in Oyo State for the 2019 General election.

“I know also as a fact that the Electoral Act 2010 [as amended] did not make participation in the National Youth Service Corps Scheme a condition precedent for contesting any elective office whatsoever. I know also that participation in NYSC Scheme is not one of the requirements to enable me to take part in the primary election for nomination of the 1st defendant’s flag bearer for the office of governor of Oyo state in the 2019 General election.”

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Zenith Bank Hosts Its First Global Economic Forum [VIDEO]

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Watch the video excerpt from Channels TV below:

 

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