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Alleged Fraud: Trial Of Ex-Bank Chief, Erastus Akingbola, Starts Afresh 10 Years After Initial Arraignment

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The trial of the former managing director of the defunct Intercontinental Bank, Erastus Akingbola, has resumed at the Federal High Court sitting in Lagos.

The trial is coming back a year after the Supreme Court ordered Akingbola to face the charges against him. It’s also almost 10 years after the former bank chief was initially arraigned before Justice Mohammed Idris on a 26-count charge of fraud, granting reckless credit facility, abuse of office and mismanagement of depositors’ funds.

The case was later transferred to Justice Charles Archibong on October 25, 2010, but two years later, the judge struck out the charge for want of diligent prosecution by lawyers to the Economic and Financial Crimes Commission (EFCC).

However, on February 20, 2015, the Court of Appeal, Lagos Division overturned the Federal High Court’s decision striking out the charges against Akingbola.

Akingbola’s appeal to Supreme Court was also dismissed by the apex court, and the court on May 18, 2018, ordered the former bank chief to return to the Federal High Court to answer to the charges preferred against him by the EFCC.

At the proceedings on Tuesday, the EFCC’s witness, Abdulrahim Jimoh, testified that as the Chief Inspector of Intercontinental Bank in November 2009, he discovered that Mr Akingbola acquired properties in London with the sum of £8.5m and £1.3m pounds allegedly diverted from the bank.

He said the bank discovered this after investigating a letter it received via email from Deutsche Bank of London.

Justice Mojisola Olatoregun has adjourned further proceedings in the matter till Wednesday, March 13.

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JUST IN: Nigeria Police Confirm Alh. Yusuf ‘Oko Oloyun’s’ Murder

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The Oyo State Police Command on Thursday confirmed the murder of popular traditional medical expert Alh. Fatai Yusuf (Aka Oko Oloyun).

Yusuf was killed by unknown gunmen along Igbo-Ora-Eruwa Road.

Confirming the sad incident, the Police Public Relations Officer (PPRO) Mr Gbenga Fadeyi, told The Nation Newspaper that Yusuf was killed around 4:30 pm on the road while traveling to Iseyin, Oyo State.

Fadeyi, a Superintendent of Police (SP), said the Commissioner of Police Mr Shina Olukolu has visited the site of the incident along with some deputy commissioners for an on-the-spot fact-finding mission.

The PPRO said Olukolu has directed a high-powered manhunt for the hoodlums that perpetrated the dastardly act with a view to bringing them to justice.

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BREAKING: Trado-Medical Practitioner Oko Oloyun Reportedly Shot

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Popular Trado-medical practitioner, Alhaji Fatai Yusuf, also known as Oko Oloyun has been reportedly shot by unknown gunmen.

Alhaji Fatai Yusuf is the CEO of Oko Oloyun Worldwide.

It is not clear if the highly respected traditional medicine practitioner is dead or alive.

Details still sketchy.

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BREAKING: US Will No Longer Issue Visas To Foreigners For Birth Purpose [Document Attached]

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The United States said Thursday it would no longer issue temporary visitor visas to pregnant women seeking to enter the country for so-called “birth tourism”.

In announcing the rule change, which takes effect Friday, the White House said foreigners were using the visas “to secure automatic and permanent American citizenship for their children by giving birth on American soil”.

“The integrity of American citizenship must be protected,” it said in a statement.

Calling the practice “a glaring immigration loophole,” the White House argued the crackdown on “birth tourism” was for public safety and national security as well as immigration control.

“The birth tourism industry threatens to overburden valuable hospital resources and is rife with criminal activity, as reflected in federal prosecution.”

The US constitution guarantees automatic American citizenship to anyone born on US soil.

US President Donald Trump has made restricting immigration a top priority of his administration and has threatened in the past to abolish birthright citizenship.

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