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Edo State High Court Sentences 19 Internet Fraudsters To Prison, Convicts Forfeit Cars To EFCC

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Nineteen internet fraudsters have been convicted and sentenced to prison for fraud by Justices Efe Ikponmwonba and M. Itsueli of the Edo State High Court sitting in Benin City on Tuesday, June 6, 2023.

The Economic and Financial Crimes Commission disclosed this via its Twitter handle, @officialEFCC, on Wednesday.

The convicts are Fidelis Esajini, Nicholas Azeke, Marvelous Alakpa, Adelike Destiny, Osamwingie Osarenwinda, Mathias Gbenga; Collins Iyekeoretin, Anyanwu Miracle, Justice Aifo, Emmanuel Efetobor.

Others are Osahenie Uwoghiren, Emmanuel Osifo, Timothy Nowamagbe, Desmond Taiwo, Atunu Ewomaoghene, Elvis Onojebe, Promise Uduaghan, Francis Okoliko and Omokaro Omonefe.

They were arraigned separately on a one-count charge bordering on retention of proceeds of crime, fraudulent representation and unlawful possession of fraudulent documents by the Benin Zonal Command of the Economic and Financial Crimes Commission.

The charge against Collins read, “That you, Collins, sometime between January 23, 2018, and May 26, 2023, in Benin City, Edo State within the jurisdiction of this court did retain the control of the aggregate sum of N303,304,519 in your bank account on behalf of Osawonyi Ella, knowing that same represents the proceeds of the criminal conduct of the said Osawonyi Ella and others and thereby committed an offence contrary to Section 17(a) of the EFCC (Establishment) Act, 2004 and punishable under Section 17(b) of the same Act.”

The charge against Fidelis read, “That you, Fidelis, sometime in May 2023 within the jurisdiction of this court, did with intent to defraud, present yourself to be one Lisa, a citizen of the United States of America and thereby committed an offence contrary to and punishable under Section 484 of the Criminal Code Law Cap 48, Laws of Bendel State of Nigeria (as applicable in Edo State) 1976.”

Upon arraignment, all the defendants pleaded guilty to their respective charges prompting the prosecution counsel, F.A. Jirbo, I.M Elodi, Saliu Ahmed, A.A. Ibrahim and AS Balariba to pray the court to convict and sentence them accordingly.

However, counsel for the defendants pleaded with the court to temper justice with mercy as the defendants were first-time offenders who had turned a new leaf.

The statement read, “Justice Ikponmwonba convicted and sentenced Esajini, Destiny, Osarenwinda, Gbenga, Iyekeoretin, Nowamagbe, Ewomaoghene and Okoliko to three years imprisonment with an option of N200,000 as fine.

“Azeke, Miracle, Aifo, Efetobor, Uwoghiren and Osifo were sentenced to three years imprisonment or a fine of N100,000 each.

“Alakpa bagged three years imprisonment or a fine of N300,000 while Taiwo bagged two years imprisonment or a fine of N200,000.”

Justice Itsueli convicted and sentenced Promise Uduaghan, Elvis Onojebe and Omokaro Omonefe to three years imprisonment or a fine of N200,000.

The court also ordered that six vehicles – Lexus ES350, Black Mercedes ML350, Mercedes Benz C-30 model, Mercedes Benz ML 350, Lexus NX, Toyota Corolla- iPad, laptops, phones and the balance in the defendants’ bank accounts be forfeited to the Federal Government through the EFCC.

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Federal Government To Grant Mining Licenses To Only Companies That Process Locally

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Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday.

This is a departure from Nigeria’s long-standing practice of exporting raw commodities, as governments around Africa work to increase the value derived from their substantial mineral reserves.

To spur investment, Nigeria will offer investors incentives including tax waivers for importing mining equipment, make it easier to secure electricity generation licences, allow full repatriation of profits and boost security, Segun Tomori, a spokesperson for Nigeria’s minister of solid minerals development said.

“In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy,” Tomori said. He did not say when the guidelines would be finalised or come into effect.

However, last week the minister of solid minerals development, Dele Alake, said it was now government policy to make value addition a condition for obtaining licences so as to create jobs and help local communities.

Alake, who also chairs an African mining strategy group comprising mining ministers from Uganda, Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia and Namibia, is pushing for a continent-wide effort to get maximum local benefit from mineral exploration.

Nigeria, Africa’s top energy producer, has struggled to extract value from its vast mineral resources due to poor incentives and neglect. The underdeveloped mining sector contributes less than 1% of the country’s gross domestic product.

Last year Nigeria exported mostly tin ore and concentrates worth about 137.59 billion naira ($108.34 million), mainly to China and Malaysia, according to the country’s statistics bureau.

The government aims to drive more investment into the sector by issuing more licenses. It has set up a state-owned solid minerals corporation offering investors a 75% stake and established a special security unit tasked with fighting illegal miners.

The government is also trying to regulate artisanal miners, who dominate the sector, by grouping them into cooperatives.

Foreign mining companies operating in Nigeria include Canada-based Thor Explorations which is involved in gold exploration, Chinese-owned Xiang Hui International Mining which partnered with a local company to process gold, and Indian-owned African Natural Resources and Mines, which is building a $600m iron ore processing plant in northern Nigeria.

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Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

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Governor Babajide Sanwo-Olu, has congratulated President Bola Ahmed Tinubu on his 72nd birthday, describing him as a brave, bold, and passionate leader who is dedicated to the advancement, growth, and development of Nigeria.

He said that President Tinubu’s contribution to the nation’s growth is cause for celebration, citing the President’s unparalleled bravery, integrity, honesty, and patriotism in his efforts to steer Nigeria’s ship in the correct path since he into office on May 29, 2023.

Governor Sanwo-Olu, in a statement issued on Thursday by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, said President Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

Sanwo-Olu further described the President as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy.

He said: “On behalf of my family, the government, the people of Lagos State,  members of the Governance Advisory Council (GAC), leaders, and members of the ruling All Progressives Congress (APC) in Lagos State, I congratulate our leader, President Bola Tinubu, on the occasion of his 72nd birthday.

“President Tinubu has sacrificed the greater part of his life in the service of our dear State and Nigeria. He contributed to the enthronement of democracy and good governance, serving first as a Senator in the aborted third republic and later as a pro-democracy activist, working tirelessly as a member of the National Democratic Coalition (NADECO) to struggle for the de-annulment of the June 12, 1993 presidential election.

“President Tinubu’s financial wizardry and economic intellect, which he put to good use as the Governor of Lagos State, have taken our dear state to a greater height. Today, Lagos is the pride of Nigeria, occupying an enviable position as the fifth largest economy in Africa.

“President Tinubu has made positive impacts in the country through the Renewed Hope agenda of his administration. His unblemished service and track record of impressive achievements in public office have made him a role model for many Nigerians.

“As President Tinubu celebrates his 72nd birthday, it is our prayer that God will grant him more prosperous years in good health and wisdom as he continues to serve our dear nation.”

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JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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