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Court Seizes $4.7m, N830m, Multibillion Naira Assets Linked To Emefiele

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An interim order for the forfeiture of $4,719,054 million USD, N830,875,611 million, and different properties connected to the troubled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been issued by a Federal High Court in Ikoyi, Lagos.

On Thursday, May 23, 2024, Justice Yellim Bogoro issued the ruling after an ex-parte argument by the attorneys for the Economic and Financial Crimes Commission (EFCC), C.C. Chineye and Bilkisu Buhari.

“I find merit in the application and same hereby granted as prayed.

“The applicant should publish this order in any daily newspapers circulating all over the federation for anybody who is interested to show cause why the final order final order of forfeiture should not be made,” Justice Bogoro held.

The monies forfeited to the Federal Government in the interim, were said to be warehoused in some banks operated by Omoile Anita Joy; Deep Blue Energy Service Limited; Exactquote Bureau De Change Ltd; Lipam Investment Services Limited; Tatler Services Limited; Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.

Emefiele’s properties forfeited to the federal government include; 94 Units of 11 Storey building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, iKoyi, Lagos; AM Plaza, 11 Story Office Space, Situate on 1E,Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, ibeju-Lekki LGA, Lagos and 2 properties purchased from Chevron Nigeria, Closed PFA Fund, Block B.Lot.Twin Completed property Lakes Estate. Lekki, Lagos.

Others include; One plot measuring 1,038.069 sqm, at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; Estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, Owned by Lipam investment Services; a Land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos and a Property Situate on 8, Bayo Kuku Road, lkoyi Lagos.

The EFCC had approached the court for an interim forfeiture of the monies and properties, pursuant to Section 17 of the Advance Fee Fraud and other Fraud Related Offence Act. 14 2006, Section 44(2)(b) of the Constitution and under the inherent jurisdiction of the court.

Specifically, the anti-graft asked the court for the followings; “an Interim Order forfeiting to the Federal Government of Nigeria the funds warehoused in the accounts particularized in Schedule ‘A’ which funds are reasonably suspected to be proceeds of unlawful activities.

“An Interim order forfeiting to the Federal Government of Nigeria Properties provided in 2nd Schedule ‘B’ which are proceeds of unlawful activities.

“An Order directing the publication In any National Newspaper, the interim order under reliefs 1-2 above, for anyone who Is interested in the properties and funds sought to be forfeited to appear before this Honourable Court to show cause within 14 days why the final order of forfeiture of the sald properties and funds should not be made in favour of the Federal Government of Nigeria.”

In granting the ex-parte motion Justice Bogoro after he had taken submission of the EFCC’s counsel held; “I have listened to the submission of the applicant’s counsel and also perused the motion just moved, together with the affidavit in support.”

The case was adjourned to July 2, 2024 for motion for final forfeiture.

BIG STORY

Naomi Campbell Gets 5-Yr Ban From Being Charity Trustee In UK For “Using Funds On Spa Treatment”

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Naomi Campbell, the British supermodel, has been banned from serving as a charity trustee in England and Wales for five years.

The UK Charity Commission found that her charity, Fashion for Relief, was “poorly governed and managed financially” by its trustees.

The investigation, conducted from April 2016 to July 2022, revealed that only 8.5% of the funds raised were spent on charitable grants.

Additionally, charity funds were reportedly used for Campbell’s stays in luxurious hotels, spa treatments, and cigarettes.

Campbell responded to the findings in an interview, expressing her concern and claiming she was not aware of these expenses, as she had entrusted the charity’s management to a legal employer. She said, “I was not in control of my charity.”

Veronica Chou and Bianca Hellmich, other trustees, were also sanctioned.

Hellmich was banned for nine years for receiving unauthorized funds, while Chou was banned for four years.

Tim Hopkins, part of the investigation team, stated that Campbell and the other trustees had failed in their legal duties.

Approximately £344,000 has been recovered, and an additional £98,000 of charitable funds has been protected.

The recovered funds were used to make donations to other charities and settle liabilities.

Campbell founded Fashion for Relief in 2005 with the aim of relieving poverty.

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BIG STORY

Why Tinubu Shouldn’t Trust His “Kitchen Cabinet” — Former Communications Adebayo Shittu

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A former Minister of Communications, Adebayo Shittu, has advised President Bola Tinubu against trusting some of his closest advisors when it comes to recommending individuals for ministerial positions, particularly as he prepares for a cabinet reshuffle.

Shittu shared his insights during an appearance on Channels Television’s Politics Today programme on Thursday.

He highlighted that some members of the President’s kitchen cabinet, who should ideally seek out technocrats for ministerial roles, have their own vested interests and may only suggest candidates who align with their personal agendas.

“You cannot trust anybody, even if you are talking of kitchen cabinet,” Shittu remarked, noting that some current cabinet members have not met expectations.

He elaborated, “This will be the first time he (Tinubu) would be recruiting people from all parts of the country most of whom he may never have met in life.

But he may just be riding on the recommendation, perhaps, of interested power blocs within the party who would give information and sell their candidate for one reason or the other.”

Shittu emphasized, “Mr President has an opportunity to decide what he wants. If you are not there and if he does not tell you exactly what he wants, it would be very difficult but I think one failing in our system in this country is that when people are appointed, or about to be appointed, we don’t have a kind of orientation exercise which perhaps will take a week or two weeks to school those to be given jobs to understand the priorities of their employer.”

Since taking office, Tinubu has appointed 48 ministers as of August 2023, shortly after his inauguration.

The Senate quickly screened and confirmed these ministers. However, one minister, Betta Edu, faced suspension in January, while another, Simon Lalong, transitioned to the Senate.

Calls for a cabinet reshuffle have intensified, with many Nigerians expressing dissatisfaction over the performance of several ministers amid rising inflation, a challenging economic landscape, and increasing insecurity.

This week, presidential spokesman Bayo Onanuga indicated that the President would indeed be reshuffling his cabinet but did not specify a timeline for this reorganization.

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BIG STORY

FG To Toll Lagos-Ibadan Expressway, Second Niger Bridge, Others — Works Minister David Umahi

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Minister of Works, Dave Umahi, announced that the Federal Government will begin tolling all major roads in the country upon the completion of construction and renovation projects.

During an Inter-Ministerial Press Briefing in Abuja, part of activities marking Nigeria’s 64th independence anniversary, Umahi mentioned that roads such as the Lagos-Ibadan Expressway, Second Niger Bridge, Abuja-Kano Road, and Makurdi-9th Mile would be tolled.

Umahi emphasized that tolling would generate significant revenue for the government, adding that private sector involvement is being sought to fund the construction and tolling of these roads.

He said that the Keffi-Makurdi Road would be the first to be tolled, and the Ministry of Works is working with the Ministry of Finance to implement a paperless payment system for tolls.

He assured that enhanced security, solar lighting, and reduced travel times on these roads would increase public confidence and encourage payment of tolls.

Umahi further stated that the current administration, under President Bola Tinubu, has taken a more professional approach to road development, treating it as an investment.

The administration inherited 300 damaged roads and bridges, and new construction projects will begin across the six geopolitical zones starting October 1, 2024.

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