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Court Jails Former New Prudential Bank MD, Adetunji Abudu Two Years Over N195m Fraud

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A Federal High Court sitting in Ikoyi, Lagos, Thursday convicted former New Prudential Bank, Managing Director Adetunji Abudu and sentenced him to two years imprisonment over N195 million fraud.

Abudu’s conviction was at the instance of the Economic and Financial Crimes Commission, EFCC.

EFCC spokesman, Tony Orilade said this in a statement in Abuja.

He added, “The convict was arraigned on Wednesday, February 17, 2016, on a four-count charge of acting in contravention of the Banks and Other Financial Institutions Act( BOFIA) 2004 to the tune of N195m( One Hundred and Ninety-five Million Naira).

“Abudu, while being the Managing Director of the bank, obtained a N35m loan and another N110m loan without authorization.

“The former New Prudent Bank boss also approved the setting off of a N50m loan granted to Total Access Concept Limited by Addoser Micro-finance Bank, which was also not authorized in accordance with the bank’s policy and in contravention of BOFIA 2004.

“In another count, the defendant failed to disclose his interest in Total Access and Integrated Concept Limited, an offense contrary to Section 18(8) and punishable under Section 18 (11) of the BOFIA LFN 2004.

“The defendant pleaded not guilty to the charges preferred against him by the prosecution, thereby leading to his full trial.

“In the course of the trial that began on April 12, 2016, the lead prosecution counsel, A.B.C. Oziokor, called seven prosecution witnesses and tendered several documents that were admitted in evidence by the court, while the defense presented five witnesses.

“Both parties consequently adopted their written addresses, after the closure of the case”.

In his ruling, Justice I.N. Buba found the defendant guilty on counts one, two, three and four as charged.

Further, the Judge said “The court has considered the fact that the convict is a first-time offender, a family man, and a breadwinner.

“The court will be lenient, given that the convict is a first offender. But this will also send the right signal that it is this type of attitude that has led our financial institutions into trouble.

“This is a matter the convict should not have allowed to go through the rigors of a criminal trial, having been given the opportunity to refund the money. But he still remained obstinate.”

Buba, therefore, sentenced the convict to two years on counts one, two, three and four, without an option of fine, with effect from the day of Judgment.

He also ordered that the sentences are to run concurrently.

But the convict was ordered to make restitution to the complainant, in accordance with Section 321(a) of the Administration of Criminal Justice Act, ACJA, “if the properties released cannot meet up the amount of exposure to the complainant.”

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Cybercrime Unit Recovered N8bn, $115k In 2024, Rated Best In Africa — Nigeria Police

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The Nigeria Police Force (NPF) reports that its cybercrime unit recovered over “N8 billion” and “$115,000” in 2024.

In a statement on Tuesday, Olumuyiwa Adejobi, the police spokesperson, revealed that the unit’s strategic operations led to the arrest and prosecution of 751 individuals involved in cybercrime.

Adejobi mentioned that the recovered amount had been restituted to the victims of cybercrime, emphasizing that this action reaffirmed the force’s commitment to protecting citizens and ensuring justice for those impacted by fraudulent activities.

He also added that the unit recovered 685 devices related to cybercrimes, including 467 mobile phones, 137 laptops and computers, 46 routers, four servers, one drone, and four “Starlink” devices.

“Additionally, the operations led to the confiscation of 16 houses, 39 plots of land, 14 land documents, and 26 vehicles, further dismantling the infrastructure supporting cybercriminal activities,” he said.

“In recognition of its outstanding performance and dedication, the NPF-NCCC has been awarded the title of the Best Cybercrime Unit in Africa for 2024 by the INTERPOL Cybercrime Directorate based in Singapore, securing the top position among 54 participating African countries.

“These achievements reflect the dedication of the Nigeria Police Force to fighting cybercrime and enhancing the safety of citizens in the digital space.”

Adejobi also mentioned that operatives of the unit apprehended four suspected criminals identified as Douglass Victor, Egbo Martins, Lucky Adesunloye, and Ndifreke Joseph Moody for cyber-related offences.

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BIG STORY

Ibadan Stampede: Court To Decide Bail For Ooni’s Ex-Wife, Oriyomi Hamzat January 13

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A high court in Ibadan has fixed Monday, January 13, 2025, to rule on the bail applications filed by Naomi Silekunola, ex-wife of Ooni of Ife, Oriyomi Hamzat, CEO of Agidigbo FM, and Fasasi Abdullahi.

Abdullahi serves as the principal of Islamic High School, the site of the stampede incident in Ibadan.

The trio are standing trial over their alleged roles in a stampede at a funfair in December, which claimed the lives of over 40 people, most of them children.

The defendants were remanded at Agodi correctional centre on December 24 after being charged with conspiracy, negligence causing harm, and failing to provide adequate security and medical facilities.

At the hearing on Tuesday, their legal representatives presented separate arguments for bail.

Silekunola was represented by Musibau Adetunmbi, while Hamzat and Abdullahi were represented by Adekunle Sobaloju.

The prosecution, led by Abiodun Aikomo, Oyo state attorney-general and commissioner for justice, opposed the bail applications.

He asked the court to deny the defendants temporary release.

After hearing the submissions of both defendants and prosecutor, Kamarudeen Olawoyin, the presiding judge, reserved his ruling for January 13.

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NDLEA Arrested Over 18,500 Suspected Drug Traffickers In 2024 — Agency Chairman Marwa

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Buba Marwa, the chairman of the National Drug Law Enforcement Agency (NDLEA), says operatives of the agency arrested over 18,500 suspected drug traffickers and seized 2.6 million kilograms of illicit drugs in 2024.

Marwa spoke in Lagos on Tuesday during the inauguration of the NDLEA central exhibit office.

The US government donated the NDLEA central exhibit office located at the agency’s headquarters annex in Ikoyi.

Marwa said the steady operational successes being recorded by the agency in its drug supply and demand reduction efforts were attributable to the support given to it by the US government and other partners.

“Today, I am particularly pleased to acknowledge one of such gestures, namely the donation of the office for our central exhibit custodians,” he said.

“This donation acknowledges the critical need for efficient and secure handling of evidence, which is essential for the successful prosecution of drug-related cases.

“This contribution will not only strengthen our operational framework but also set a new standard for accountability and transparency in drug law enforcement

“It is an investment in the security and the future of our nations.”

Marwa said in spite of the agency’s improved performance, its personnel recognised that the war against drug trafficking and abuse is far from being over.

“As an organisation, we are committed to surmounting the challenges,” he said.

The NDLEA chairman noted that tremendous successes had been recorded on all fronts against the drug menace despite many challenges.

“So far, the results have been justifying. In 2024, we seized over 2.6 million kilograms of illicit drugs across the country,” he said.

“We arrested more than 18,500 drug trafficking offenders and got over 3,250 convicted, including 10 drug barons, with more than 220 hectares of cannabis farms destroyed.

“While in the same breath, we counselled and rehabilitated over 8,200 drug abusers.

“We organised more than 3,000 sensitisation and advocacy programmes across the country in schools, markets, motor parks, worship centres, workplaces, and communities, among others.”

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