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A Federal High Court in Lagos on Thursday ordered the temporary forfeiture of the $43 million, £27,800 and N23.2 million recovered by the Economic and Financial Crimes Commission from an apartment in the Ikoyi area of Lagos State on Wednesday.

The EFCC had in an ex parte application sought an interim order of the court to forfeit the money to the Federal Government.

In a ruling on Thursday, the court, presided over by Justice Muslim Hassan, ordered that the funds be temporarily forfeited to the Federal Government of Nigeria.

The judge adjourned until May 5 for anyone interested in the funds to show up before him to show cause why the money should not be permanently forfeited to the Federal Government.

The judge made the forfeiture order shortly after entertaining an ex parte application filed by counsel for the EFCC, Rotimi Oyedepo.

The EFCC had on Wednesday raided an apartment numbered Flat 7B, No. 16, Osborne Road, Osborne Towers, Ikoyi, Lagos, recovering the sums kept in iron cabinets and “Ghana must go” bags in the said apartment, which was under security locks.

Moving the ex parte application for the interim forfeiture of the funds, Oyedepo told the court that no one had come forward to claim it, adding that the staff of one AM Facilities managing the apartment where the huge sums were found could not provide the anti-graft agency with information on the possible owner of the money.

He urged the judge to exercise the power conferred on him by Section 17 of the Advance Fee Fraud and other related Offences Act to order the interim forfeiture of the money to the Federal Government.

Oyedepo said: “We received intelligence that No.16, Osborne Road, Osborne Towers, Flat 7B had in it various sums of money that we are seeking to forfeit.

“The intelligence was acted upon and on getting there; we executed Exhibit EFCC 1, which is a search warrant. As God would have it sir, we were able to recover $43,449,947; still in the same flat, we also recovered £27,800. That was not all, we were also able to recover N23,218,000.

“For security reasons and because of the volume, we did not want to bring the money before my lord, but we have registered it as an exhibit with the exhibit keeper and the evidence is contained in Exhibit EFCC 04.

“Section 17 of the Advance Fee Fraud and other fraud related Offences Act empowered My Lord, where a property is found to be an unclaimed property or where a property is found to be proceeds of an unlawful activity, to forfeit such property in the interim.”

Oyedepo drew the judge’s attention to a portion of the court papers where the commission had stated under oath that “no one had approached the commission to claim the said money, with reasonable evidence, confirming the genuineness of the origin of the money that we are seeking to forfeit in the interim”.

Oyedepo said: “I, therefore, humbly and most respectfully urge My Lord to forfeit this money to the Federal Government, pending when anyone who has the mind to come and claim the money.”

After listening to him, Justice Hassan, in a short ruling, said in view of the facts placed before him, he was “mindful of granting the interim reliefs sought” by the EFCC.

He also granted the anti-graft agency’s prayer to advertise or publish the interim forfeiture order in any national newspaper for any concerned party to see it.

He adjourned till May 5, 2017 for such a person to come before him to give reasons why the money should not be permanently forfeited to the Federal Government.

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NCC Unveils Initiative To Combat Fraud, Spam Messaging

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The Nigerian Communications Commission has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the “Application-to-Person” messaging sector.

The telecom regulator made this announcement in a statement on Friday.

The proposed framework was introduced during a virtual Stakeholders’ Forum, a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.

The draft framework, presented by the acting Head of Legal and Regulatory Services at the NCC, Mrs. Chizua Whyte, on behalf of the Executive Vice Chairman, Dr. Aminu Maida, seeks to regulate the A2P messaging space.

A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.

However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.

“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.

The regulator emphasised its commitment to fostering innovation while ensuring a secure, transparent environment for businesses, consumers, and service providers.

The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.

“This forum marks a pivotal step towards addressing these challenges,” the NCC said. “We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”

The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.

The commission’s efforts are focused on promoting a sustainable A2P messaging ecosystem that enables business innovation, enhances communication efficiency, and supports Nigeria’s socio-economic growth.

Stakeholders were encouraged to provide feedback and contribute ideas during the forum to help shape the final framework.

The NCC reiterated its commitment to creating a regulatory environment that supports innovation while safeguarding the interests of all stakeholders in the A2P messaging sector.

For further updates, the NCC urged stakeholders to remain engaged throughout the regulatory process, stressing the importance of cooperation in shaping the future of A2P messaging in Nigeria.

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JUST IN: Oil Marketers Reduce Petrol Price By 11.8% To N939.50 Per Litre

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Oil marketers sourcing “Premium Motor Spirit”, “PMS”, also known as petrol, from the Dangote Petroleum Refinery have reduced the price by 11.8 percent to N939.50 per litre, down from N1,060 per litre.

As of Thursday, December 19, petrol was still being sold at N1,060 per litre in Lagos and surrounding areas.

However, by Friday, MRS, a leading marketer, along with others, had adjusted their prices, now selling at N939.50 per litre.

It’s worth noting that the Dangote Petroleum Refinery had earlier lowered the ex-pump price of petrol to N899.50 per litre, down from N970 per litre.

According to the refinery, this price reduction is intended to offer much-needed relief to Nigerians ahead of the holiday season.

Anthony Chiejina, the Chief Branding and Communications Officer of Dangote Group, made this announcement.

“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on “PMS” (“petrol”). From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM,” Chiejina said.

‘‘Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”

 

More to come…

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EFCC Allocates N18bn For Allowances, N5bn For Travels In Proposed 2025 Budget

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The Economic and Financial Crimes Commission (EFCC) has announced plans to allocate N18 billion for allowances in 2025.

This figure is part of the proposed 2025 budget currently under consideration and awaiting approval by the national assembly.

As per the appropriation bill, the EFCC’s total budget for 2025 stands at approximately N62.2 billion.

This budget includes personnel costs (N38.6 billion), overheads (N20.9 billion), and capital expenditure (N2.2 billion).

Within the allowance budget, N1.7 billion is designated for “non-regular allowances,” while “regular allowances” are set at N16.7 billion.

Other proposed expenditures for the EFCC include welfare packages (N1.4 billion), fuel and lubricants (N2 billion), financial charges (N1.2 billion), construction and provision of office buildings (N1.1 billion), and maintenance services (N2.1 billion).

The EFCC also plans to allocate N4.9 billion for “local travel and transport,” with “international travel and transport” expected to cost N1.7 billion.

The proposed budget includes N800 million for the purchase of fixed assets.

On Wednesday, President Bola Tinubu unveiled the N49.7 trillion 2025 “Budget of Restoration: Securing Peace and Rebuilding Prosperity.”

In his address to the national assembly, Tinubu stated that it was time “we rewrite Nigeria’s narrative together.”

The primary focus of next year’s budget will be the defence, infrastructure, health, and education sectors.

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