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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.

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56-Yr-Old Dallas Pastor sentenced To 35 Years Imprisonment For Stealing Over $300,000 Properties From 3 Churches

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A Dallas, US, pastor has been sentenced to 35 years in prison after he was convicted of stealing property from three churches by filing fraudulent deeds.

Whitney Foster, 56, was found guilty by a jury of stealing goods worth at least $300,000, according to a news release from Dallas County Criminal District Attorney John Creuzot.

According to investigators, the total worth of the pilfered properties approached $800,000. According to Creuzot, “stealing real estate is an extremely serious and damaging crime.”

“It’s worse than the theft of someone’s vehicle or other possessions. When someone steals property, we must hold them accountable because they are hurting people.” Foster was the pastor of a small congregation that did not have a physical place to gather.

He stole church buildings and land by filing fraudulent deeds that listed fake leadership for the victim churches as the grantors and naming his church as the grantee, according to the district attorney’s office. The churches from which Foster stole were First Christian Church of Lancaster and two in Dallas — Canada Drive Christian Church and Church at Nineveh, authorities said.

Two of properties are still listed under the defendant’s name or his church’s name, and his congregation has been gathering at one of them, Creuzot said.

The third church property “remains embroiled in legal complications caused by Foster’s actions,” according to the news release.

Prosecutors also presented the jury with evidence of seven additional fraudulent deeds.

Homeowners in many Texas counties can register their property for a deed fraud alert service, which will send an alert via email whenever a document is filed on your property.

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Ecobank’s “Adire Lagos” Opens With Over 100 Exhibitors

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The annual Ecobank “Adire Lagos” exhibition took off yesterday  with over 100 exhibitors showcasing their wares.

Originating from Abeokuta in Southwestern Nigeria, Adire textile is an indigenous indigo-dyed cloth made by using different wax-resistant methods to create dazzling designs. The four-day Adire exhibition, returning for the third year in a row, is to promote culture, tourism, micro, small and medium enterprises (MSMEs) and enable them benefit from the African Continental Free Trade Area (AfCFTA). Some of the international exhibitors at the fair include Adire Oodua, Tampoori, Jide Batik, Janae, Asologe and host of others.

The 4-day fair which ends on Monday  is  at the Ecobank Pan African Centre (EPAC),  complex located in Victoria Island, Lagos,  is set to witness  influx of topflight exhibitors, government functionaries, culture enthusiasts, social media influencers, artistes, local and foreign tourists, traditional rulers, and members of the diplomatic community. It provides an exceptional opportunity to network with entrepreneurs, shoppers, and everyone in the business of Adire.

Addressing journalists at the opening ceremony, the Executive Director, Commercial Banking, Ecobank Nigeria, Kola Adeleke said the exhibition is part of the efforts of the bank to support the creative industry in the country, adding that it was also to promote micro, small and medium enterprises (MSMEs) and help them benefit from the African Continental Free Trade Area (AfCFTA).

According to him, “As you all know, we are part of a Pan African bank which operates in 33 countries of Africa. We always look out to support various initiatives on the continent and this adire exhibition fits into the scheme. As you can see, today, we have over 100 merchants who are being given the opportunity to showcase their adire products. This is the biggest that we’ve ever seen. It is an international exhibition. We want to support them all the way, train them and make them international brands with indigenous backgrounds. We want to ensure they are able to export their locally-created products across the continent. This is also one way to support the Nigerian economy.”

Exhibitors and attendees alike were enthusiastic and full of commendation for Ecobank. Ecobank Nigeria, a key driver of tourism, culture and the creative industries in Nigeria, recently hosted the +234Art, a 10-day art fair dedicated to nurturing and uplifting the burgeoning art industry in Nigeria. The fair provided a platform to support emerging artists and encourage increased interest in art acquisition; the bank organised the Photography, Art, and Design Exhibition (PADE) to commemorate World Photography Day in 2022; the bank also partnered “Songs & Stories” With Cobhams Asuquo;  Redbull Dance Your Style; BellaNaija Style Summit and Loosing Daylight (An exhibition of the history of Nollywood organised by Nse Ikpe-Etim)

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Guinness Nigeria Debunks Exit News, Reaffirms Commitment To Operations And Growth

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Guinness Nigeria Plc wishes to correct the recent speculations and false/malicious misinformation alleging a plan to exit from the Nigerian market. Contrary to rumors being peddled on various media platforms, Guinness Nigeria remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation.

Since commencing operations in April 1950, Guinness Nigeria boasts of a proud and eventful 74-year legacy intricately woven into Nigeria’s cultural and economic fabric. Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration and our community development and social responsibility initiatives. The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.

Under the partnership announced, Tolaram Group will acquire a 58.02% majority stake in Guinness Nigeria, enabling us to harness and leverage Tolaram Group’s extensive expertise in manufacturing and distribution. Importantly, Guinness Nigeria will retain its status as a listed company on the Nigerian Stock Exchange, maintaining its prime status in the Nigerian beverage industry. Diageo’s establishment of a wholly-owned international premium spirits company in Nigeria is also a noteworthy demonstration of its continuing dedication to sustaining its operations across West and Central Africa, with Nigeria as a pivotal operational hub.

Under a long-term license and royalty arrangement, Guinness Nigeria will continue to produce and sell all our iconic brands including Guinness FES and Smooth, Smirnoff Ice, Orijin Bitters, and Malta Guinness as well as Diageo MSS brands like Smirnoff X1, Gordon’s Moringa and Captain Morgan Gold Rum, ensuring our esteemed consumers nationwide continue to enjoy their favorite beverages.

We are excited to embark on this new chapter of growth and development in Nigeria.

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