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Court Freezes N9.9bn Accounts Linked To Ambode

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The Federal High Court in Lagos on Tuesday ordered the freezing of three bank accounts allegedly belonging to the Lagos State Government over alleged N9.9bn fraud.

The accounts domiciled in First City Monument Bank, Access Bank and Zenith Bank are numbered 5617984012, 0060949275 and 1011691254, respectively.

Justice Chuka Obiozor ordered the “suspension” of the accounts following an ex parte application by the Economic and Financial Crimes Commission.

The EFCC had prayed the judge to freeze the accounts pending the conclusion of investigations and possible prosecution of the Permanent Secretary in the Office of the Chief of Staff to the Governor of Lagos State, Adewale Adesanya, for money laundering.

In an affidavit filed in support of the ex parte application, a member of the EFCC investigating team, Kungmi Daniel, said the commission discovered “a huge inflow of N9,927,714,443.29” from the state accounts into an FCMB bank account opened on September 17, 2018 during the Akinwunmi Ambode administration operated by Adesanya.

Daniel said the schedule of the FCMB account showed how Adesanya and the other signatories to the account made fraudulent transfers from the accounts of the Lagos State Government and dissipated the funds in the said accounts.

“The trend in the account is that the account always witnessed a huge inflow from Lagos State Government into the above-scheduled accounts managed by the respondent (Adesanya),” the investigator said.

He said upon the receipt of intelligence, the EFCC analyzed it and found it worthy of investigation.

The EFCC prayed the court to grant them an order to temporarily take over the accounts to enable them to conclude their investigations.

The EFCC said, “There have been concerted efforts and attempts to dissipate the contents of the accounts listed in the schedule to this application.

“Without freezing the nominated accounts and temporarily forfeiting the money to the Government of the Federal Republic of Nigeria, there is no way the fraud being perpetrated using the scheduled accounts can be stopped.”

After listening to submission by the lawyer for the EFCC, Mohammed Abbas, Justice Obiozor granted the prayers.

He adjourned further proceedings in the matter till September 9, 2019.

The EFCC later on Tuesday issued a statement saying they had secured a freezing order by the court on an account allegedly linked to Ambode.

The PUNCH had exclusively reported in June that loyalists of the National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, were dragging Ambode to the EFCC for investigation.

A spokesman for the EFCC, Tony Orilade, said in a statement titled, ‘EFCC Secures Freezing Order on Accounts Linked to Ex-Gov. Ambode over Alleged N9.9bn Fraud’, said Justice Obiozor of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday ordered the freezing of the sum of N9.9bn belonging to the Lagos State Government.

The money was domiciled in First City Monument Bank account number 5617984012; Access Bank account number 0060949275 and Zenith Bank account number 1011691254, respectively, according to the statement.

A source, however, told one of the correspondents that the accounts had nothing to do with Ambode.

“It is a mischief. The bank accounts are not the former governor’s personal accounts; they belong to the Lagos State Government and were used by the previous and present administrations for state administrative purposes,” the source added.

Ex-Chief Press Secretary to Ambode, Habib Haruna, did not take his calls, which rang out several times.

A text message requesting his response to the allegations was also not replied to as of the time of filing this report.

 

 

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BIG STORY

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

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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.

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BIG STORY

Lagos Commissioner Tokunbo Wahab Condoles With Families Of Epe Accident Victims

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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.

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BIG STORY

JUST IN: Monday Okpebholo Sworn In As Edo State Governor

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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.

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