Connect with us


BIG STORY

CBN Demands Domiciliary Account Details Of Kesington Adebutu, Akin Alabi, Adekunle Soname,13 Others

Published

on

The Central Bank of Nigeria has ordered banks to provide the domiciliary account statements of some high profile customers and other accounts linked to the customers through the Bank Verification Number.

It disclosed this in a letter to all the banks with the number, ‘BSD/DIR/GEN/LAB/13/063, dated September 15, titled ‘Request for statement of accounts’, signed by the Director of Banking Supervision, CBN, Z. Marcus.

The Deposit Money Banks were ordered to send the details to five listed email addresses by the CBN after listing the names of 16 individuals in the letter.

Some of the individuals recently had their company’s bank accounts frozen over forex infractions.

The customers listed included Chief Kesington A. Adebutu; Adebisi A. Adebutu; Ajibola Bankole Adebutu; Olanipekun Orekoya Adebutu; and Olasegun Oladiran Adebutu. The Adebutus are directors of Premier Lotto.

The list also includes Adekunle O. Soname and Ayodeji Ojuroye, owners of Bet9ja.

Other names are Akinola Adekunle Alabi, founder of NairaBet, and member of the House of Representatives; Oluwadamilare Olubukola Alabi; Oluwafemi Babalola; and Adetayo Cosmas Adesanwo.

Some foreigners that do business in the country on the list are David Patrick Grogan; Domenico Giovando; Mauro Ripamonti; Charbel Jabbour Chidiac; and Byron Powell.

A number of the persons on the list are linked to the betting industry.

Attempts to speak with Akinola Alabi proved abortive as he neither responded to calls nor a text message on Wednesday.

A source expressed worry on the light that had been beamed on the members of Adebutu’s family.

The source said, “Apart from being directors of their father’s betting business, these men (the Adebutus) have their own businesses. I know one of them that is into the oil business.

“Their businesses have to do with forex; so, they cannot do without using forex.”

Part of the letter to the bank read, “You are required to furnish us with the domiciliary account statements (Excel and PDF format of the under-listed individuals including the domiciliary accounts linked to them by the Bank Verification Number.

“The statement should cover the period of January 1, 2013, to July 31, 2020.”

When contacted on the reason for the accounts, the CBN declined to make any comment.

However, it should be recalled that the CBN recently instructed banks to place a post-no-debit on the bank accounts of 38 companies.

It stated in a circular to the banks: “You are hereby required to place the under listed accounts on post-no-debit with immediate effect and revert with the account names, numbers, currencies, and balances of all accounts placed on PND.”

The affected accounts belonged to betting companies, bureau de change companies, and some logistics companies.

The report stated that the companies were accused of forex infractions, moving forex abroad without the required authorization, and economic sabotage.

BIG STORY

Lagos State Government To Concession Red And Blue Line Rails For Sustainability, Loan Repayment

Published

on

The Lagos State Government has announced plans to concession the operations of the Red and Blue Line rail systems to the private sector in order to ensure their sustainability and repay loans taken for the rail projects.

This announcement was made by the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, during a recent TVC News interview, where he discussed the measures being implemented to ensure the continued viability of the state’s rail systems.

Osiyemi explained that the concessioning process would involve transferring the operations of the rail systems to private sector players for a defined period. This approach is intended to ensure the continued operation and effective management of the rail projects.

“The ultimate game is for all our rail systems we’ve done—that is, the Red Line and Blue Line—there is going to be some concessionairing with the private sector for a period of time to ensure sustainability and continuity,” he stated.

He added, “The concessioning would help pay back the loans taken for the rail projects.”

The commissioner emphasized that the concessioning strategy aims to ensure efficient operations and long-term financial sustainability, in line with the state’s vision for a world-class transportation network.

  • More Insight

Osiyemi further highlighted the substantial financial and technical challenges involved in operating rail systems, describing them as capital-intensive projects that require significant resources and specialized expertise.

To tackle these challenges and build local capacity, he noted that the Lagos State Government has enlisted foreign partners to temporarily manage the operations of the trains.

These partners are expected to not only ensure smooth operations during their tenure but also transfer critical skills to Nigerian personnel. The plan includes a structured training program lasting one to two years, after which the management of the rail systems will be fully handed over to local operators.

“What we have done is we have consulted foreign partners who, of course, would run these trains for a particular period of time and train our people—that is, transfer of skills.”

“They will train our people for one to two years, then hand over for our own management,” Osiyemi explained.

  • Things You Should Know

The Lagos State Government, under its Lagos Strategic Transport Master Plan, has set out an ambitious vision to develop a network of rail systems across the state.

Currently, only the first phases of the Red Line and Blue Line rail systems have been completed, with passenger services already in operation.

The Blue Line is a 27km electric rail line designed for sustainable operations. Its first phase, covering 13km from Lagos Marina to Mile 2, was completed in 2023 and began commercial operations in September, carrying over 2 million passengers to date.

The Red Line, spanning 37km from Agbado in Ogun State to Oyingbo in Lagos, operates on diesel. Its first phase, a 27km stretch, includes eight strategically located stations: Agbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba, and Oyingbo.

The construction of the second phases of both the Red Line and Blue Line rail systems is being managed by the China Civil Engineering Construction Corporation (CCECC), which also oversees the operation of the trains.

Beyond the Red and Blue Lines, the state has plans for additional rail systems, including the 68km Green Line (Lekki Free Trade Zone to Marina), the 85.7km Purple Line (Redemption Camp to Ojo), the 48km Orange Line (Ikeja CBD to Agbowa), and the Yellow Line, all aimed at enhancing the state’s transportation network.

Continue Reading

BIG STORY

Lagos Commissioner Tokunbo Wahab Condoles With Families Of Epe Accident Victims

Published

on

Condolence Message from the Honourable Commissioner for Environment and Water Resources, Lagos State, Mr. Tokunbo Wahab.

I am deeply saddened by the tragic incident that occurred in our community, Epe, claiming the lives of two promising young adults, a dedicated tricycle driver, and leaving several other people injured. This heartbreaking accident has left our hearts heavy, as we mourn the loss of these young souls who were full of hope and dreams, and an industrious individual who worked tirelessly for his livelihood.

As a member of this community, I extend my heartfelt condolences to the families and friends affected by this terrible loss. I can only imagine the pain you must feel, and I want you to know that you are not alone in this moment of grief.

Let us honor the memories of these individuals by advocating for safety and awareness on our roads. As we move forward, may we find comfort in community and strength in one another. May their souls rest in peace, and may their families find solace and healing in the days to come.

Our thoughts and prayers are with you all.

Continue Reading

BIG STORY

JUST IN: Monday Okpebholo Sworn In As Edo State Governor

Published

on

Monday Okpebholo, a serving senator, has been sworn in as the governor of Edo State.

Okpebholo took his oath of office at about 1pm on Tuesday during the inauguration ceremony in Benin, the state capital.

As the candidate of the All Progressives Congress (APC), Okpebholo won the September 21 off-cycle governorship election in the state.

He polled 291,667 votes to defeat Asue Ighodalo of the Peoples Democratic Party (PDP), who came second with 247,274 votes.

Olumide Akpata, the candidate of the Labour Party (LP), came third with 22,763 votes.

Dennis Idahosa was also sworn in as the deputy governor of Edo.

Dignitaries, including Vice-President Kashim Shettima, Abdulrahman Abdulrazaq, chair of the governors’ forum; Philip Shaibu, reinstated deputy governor of Edo; and other governors from the party, were present as Okpebholo took the oath of office.

The new governor later rode in an open-top van around the stadium, acknowledging cheers from supporters.

Continue Reading



 

Join Us On Facebook

Most Popular