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1.7 Billion Naira Electronic Transfer Fraud Trails Globus Bank

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Globus Bank Limited has filed an application before a Lagos high court, asking the court to order the reversal of the funds from the accounts of the fraudulent beneficiaries, who are based in eight commercial banks, in an effort to recover a total of N1,755,376,156.34 fraudulently transferred electronically from its vault.

According to an affidavit sworn to by the legal officer of Globus bank Limited, Kosisochukwu Ngene and filed before the court by a Legal practitioner, Barrister V.K.Banjo, the deponent made oath and stated as follows:

  • That Globus bank is a commercial bank with the registered office at No 6 Adeyemo Alakija street, Victoria Island, Lagos and licensed under the laws of Nigeria to carry out banking business in Nigeria.
  • That between Monday 6th and Saturday 11th of June 2022, there was a system glitch in the Globus bank’s Unstructured Supplementary Service Data (USSD) application, which led to the processing of several fraudulent and unauthorized electronic transfer in the sum of N1,755,376,156.34 (One Billion, Seven Hundred and Fifty-Five Million, Three Hundred and Seventy-Six Thousand, One Hundred Fifty-Six Naira thirty four kobo.

It was gathered that seven hundred and nine (709) Globus bank customers’ who were Involved in the fraudulent transfer to the various accounts domiciled with the 8 commercial banks are contained in the Excel sheet filed before the court.

Immediately the Globus bank discovered the glitch, the bank instantaneously notified all the banks involved and requested that the beneficiary accounts be restricted in line with Central bank of Nigeria regulation to avoid dissipation of the funds fraudulently transferred into the accounts domiciled with the banks.

Subsequently, Globus bank immediately approached the Magistrate Court, in the Yaba Magisterial District and obtained an order directing the banks to freeze and reverse the amount fraudulently transferred into various accounts domiciled in the banks.

“That in response to the order served on the respondents some of the respondents were able to salvage certain sum wherein the total sum of N817,998,969.85 were returned to the bank while the total sum of N962,019,843.35 is still outstanding and yet to be returned to the bank by the respondents banks.

“The Excel sheet which contains the names of the respondents the total amount fraudulently transfered from Globus bank,the total amount salvaged and returned to the Globus and the total amount outstanding is analyze is filed before the court.

“That the parties in this suit are also financial institutions; therefore the order of this honourable court is also required, to enable the Respondents reverse the salvaged fund back to the Applicant.
Although, the Applicant obtained an order of restriction on the accounts domiciled with the Respondent banks from the Magistrate court, as exhibited before the court, Globus bank Limited still requires the order of the high court to enable the Respondents reverse and remit the salvaged funds to the bank”, the suit reads.

Meanwhile, some of the Respondent banks were ready and willing to reverse and remit the salvaged sum to the Globus bank when the order of the court was served on them, and had further requested an order of the high court, to enable them reverse and remit the salvaged funds.

The court noted that “the requirement for formal proceedings has resulted in the apparent delay between the date of the transaction and the filing of the instant application.

“Therefore it would be unjust and inequitable for the Respondents to refuse to reverse and recall the transfer of the sum fraudulently transferred in the unauthorized transaction, as that would amount to unjust enrichment on the part of the Respondent banks’ customers.

“The Respondents are not contesting the facts stated in this case but require Court order of the high court to compel the Respondents to reverse the amounts to the Applicant. It will be in the interest of justice for the reliefs sought in the Originating Summons to be granted as prayed, as the Respondent would not be prejudiced.

“That the Rules of this Honourable court empower this Court to hear an urgent matter such as this”.

It was gathered that Globus bank Limited is willing to give an undertaking as to damages if the order ought not to have been made. Consequently, Globus bank Limited is seeking the following reliefs from the court.

  • An Order of the Court directing all the eight banks to immediately reverse and remit to, Globus bank Limited the total sum of N962,019,843.35 (Nine hundred and sixty two million, nineteen thousand , eight hundred and forty three naira, thirty five kobo), being the outstanding sum yet to be salvaged from the fraudulent transfer into several accounts domiciled with the eight Respondents from the Globus bank 709 customers’ accounts, less depleted sum.
  • An order directing the eight commercial banks to release all account information in respect of the destination accounts and the beneficiaries of the transfer funds and for such further order(s) as the court may deem fit to make in the circumstances of this case.

BIG STORY

Italian Bags 24 Years Jail Term For Beating Physically Challenged Nigerian To Death

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Filippo Ferlazzo, the Italian who beat Italy-based Nigerian man Alika Ogorchukwu to death in July 2022, has been sentenced to 24 years in prison.

The 39-year-old Nigerian who was beaten to death in the Italian city of Civitanova Marche in the Marche Region in the Province of Macerata has finally received justice.

Abike Dabiri-Erewa, Chairman of the Nigerians in Diaspora Commission (NIDCOM), made the announcement in a statement signed by NIDCOM spokesperson Gabriel Odu on Thursday.

Dabiri-Erewa who expressed satisfaction over the justice meted out to Ferlazzo commended the Nigerian Mission in Rome for following through with the case and other cases involving Nigerians.

“I am glad that this case finally got justice. Like I always say, there has to be consequences for actions”.

The NIDCOM boss also urged Nigerians in the diaspora to remain law-abiding, excel in what they do, and never forget home by giving back to their homeland.

She also exhorted Nigerians living abroad to uphold the law, be the best at what they do, and never forget their roots by supporting their home country.

According to the Italian police, Ogorchukwu was assaulted while strolling in broad daylight, after the Nigerian asked Ferlazzo’s fiancée to buy him a handkerchief.

With the use of Ogorchukwu’s crutches, the attacker battered the victim to death in front of multiple witnesses, some of whom made videos on their smartphones.

On July 30, 2022, Ferlazzo was detained and arrested on charges of having murdered Ogorchukwu and having stolen Ogorchukwu’s phone.

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Lagos Government Implements Total Ban On Street Trading, Hawking To Improve Safety And Sanitation

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In a bid to create a cleaner, safer, and healthier environment, the Lagos State government, under the auspices of the Ministry of Environment and Water Resources, has implemented a comprehensive ban on street trading, hawking, and related illegal activities.

This landmark decision aims to address the rising concerns over public safety, traffic congestion, and the preservation of vital infrastructure.

Led by the dynamic Commissioner for Environment, Mr. Tokunbo Wahab, the state government has assigned the Lagos State Environmental Sanitation Corps (commonly known as KAI) with the responsibility of ensuring strict compliance with the newly enforced environmental sanitation laws.

One of the primary reasons driving this ban is the need to curb the nefarious activities of hawkers who have increasingly resorted to disguising themselves as vendors while preying on unsuspecting motorists. These incidents of theft and robbery have not only threatened the safety of commuters but have also contributed to the disruption of traffic flow on major highways and streets.

Governor Babajide Sanwo-Olu’s administration, with its T.H.E.M.E Plus Agenda, is exhibiting a zero-tolerance approach towards street trading, hawking, and other illicit practices. By intensifying efforts to enforce these regulations, the government aims to foster a more conducive and orderly business environment while addressing the concerns of the general public.

The ban extends to the construction of illegal structures on drainage systems, as they pose significant risks to the local water management infrastructure. Additionally, the prohibition encompasses the display of wares on walkways, a practice that not only obstructs pedestrian movement but also contributes to unsightly and cluttered public spaces.

Citizens and traders are urged to cooperate fully with the Lagos State Environmental Sanitation Corps, adhering to the newly implemented regulations in order to promote a more organized and hygienic society. The government’s commitment to ensuring the health and safety of its residents remains resolute, and these measures signify a significant step towards achieving that goal.

As the Lagos State government takes proactive steps towards creating a cleaner, safer, and more sustainable urban environment, the hope is that this ban will not only elevate the quality of life for all residents but also serve as a model for other regions to follow suit.

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Marketers Urge Federal Government To Address Rising Gas Prices

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The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to develop measures to keep gas prices stable and make it available to ordinary Nigerians.

The NALPGAM National President, Abideen Olatunbosun, made this plea during the association’s 36th annual general meeting/conference on Tuesday in Ibadan, Oyo State, with the theme “Expanding gas utilisation beyond imagination.”

He added that if nothing was done to stop the price growth, petrol will soon become a commodity for the few wealthy.

Olatunbosun said, “It is very vital for me to say that the galloping hike in the price of gas in recent times stands as a big challenge to LPG marketers. The government need to find ways to ensure the stability of gas price as well as make gas available to the common Nigerians. If nothing is done to the increase in price, gas will soon be a commodity for the few rich in our society.”

“As a country, we need to improve on our gas utilisation level. If we adopt gas, it will save our forest, improve quality of our lifestyle and the economy will grow. The hike in price of gas is a concern to all.”

In his lecture, the Guest Speaker, Prof Sunday Isehunwa of the Department of Petroluem Engineering, Faculty of Technology, University of Ibadan, identified changes in demand, changes in supply, natural gas production and consumption, changes in price and electricity pricing as some challenges facing LPG market in the country.

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