One of FCMB’s employees was sentenced to prison for fraud and embezzlement, which was the worst shock of the year for the prestigious financial organisation in Nigeria.

Mr. Nwachukwu Placidus, the bank manager at First City Monument Bank FCMB, Onitsha, Anambra State, was sentenced to 121 years in prison by Justice S. Odili at the Anambra State High Court in Onitsha, Anambra State, for embezzling N112 million from a customer’s fixed deposit account.

A former manager of the First City Monument Bank branch in Onitsha was found guilty and sentenced to 121 years in prison for stealing N112,100,000 in fixed deposit money from a customer for personal use.

The honourable justices delivered the verdict that resulted in this outcome. This is tantamount to a breach of trust by the former manager which has attracted a huge jail term.

The Lagos State Government has launched a manhunt for the individual who gave the apartments to tenants under the Ikoyi bridge after 36 illegal residents of the Dolphin underbridge bridge were apprehended.

It further revealed that during the clearance operation, the Lagos State Environmental Sanitation Corps (LAGESC), the ministry’s enforcement unit, arrested no fewer than 36 renters.

Tokunbo Wahab, the commissioner for the environment and water resources, revealed this on Friday at a briefing for reporters regarding the government’s actions through the ministry during the previous year.

He said: “Just about 24 hours ago, the operatives carried out an operation that unearthed a major illegal housing settlement constructed under the Dolphin Bridge Ikoyi.

“An unbelievable 80 rooms partitioned 10×10 and 10×12 and a container used for different illegal activities was also discovered.

“All the structures have been dismantled and a total of 36 miscreants who lived under the were arrested while efforts are being intensified to arrest the ring leaders who rented out the underbridge apartments which also add electricity supply,” it added.

The state government had earlier dislodged tenants under Dolphins Estate Bridge, who paid N250, 000 annually to yet to be identified landlords.

The tenants, who were dislodged in the process were discovered during an enforcement exercise by officials of the state government during demolition of illegal structures.

He added that the enforcement team of Lagos State’s Ministry of Environment and Water Resources had successfully removed all structures, including a container utilised for various illegal activities, from beneath the Dolphin Estate Bridge.

The enthronement of Oba Owolabi Olakulehin, the 43rd Olubadan of Ibadanland, took a new turn yesterday when the Otun Olubadan, High Chief Rashidi Ladoja, the former governor of Oyo State, and other kingmakers couldn’t agree on the terms of settlement that would have made the enthronement process easier.

While entertaining Mogajis in Ibadanland led by Chief Asimiyu Ariori in his Bodija residence, Ladoja indicated his willingness to drop the lawsuit he had brought against Olubadan-in-Council members, provided that both sides agreed to sign the settlement conditions as they were written.

He said: “Myself and other members of Olubadan-in-Council have been sitting together and talking. We have accepted to withdrawal the case.

“I heard that they have started signing the agreement. After all of them have signed, I will also sign my own aspect, and the next day, we will file for withdrawal of the case from court.

However, other members of Olubadan-in-Council who are defendants in the suit have argued that there is no need for signing of any terms of settlement paper, as they have already abided by the 1957 declaration.

A meeting held yesterday at Olubadan palace, Oja’ba was attended by Osi Balogun, Oba Lateef Gbadamosi Adebimpe; Asipa Olubadan, Oba Abiodun Kola-Daisi; Asipa Balogun, Kola Adegbola; Ekerin Balogun, Oba John Isioye-Dada and Ekaarun Olubadan, Oba Adebayo Akande.

The Otun Olubadan, High Chief Rashidi Ladoja; Osi Olubadan, Oba Eddy Oyewole; Otun Balogun Oba Tajudeen Ajibola; Ekerin Olubadan, Oba Hamidu Ajibade Salaudeen and Ekaarun Balogun, Oba Abiodun Azeeez were absent.

Oba Adebimpe, speaking on behalf of other members of the council in attendance at the meeting, said event had overtaken the terms of reference as contained in the agreement paper, hence no need to sign it.