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Wonder Bank Operator Disappears With N27bn Customers Deposits In Cross River

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A wonder bank, operating under the name, Micheno Multipurpose Cooperative Society, MMCS, has defrauded over 13,000 people to the tune of N27 billion in Cross River State.

The scheme owned and operated by one Michael Eke, had promised depositors of N100,000 and additional N50,000 at the end of 40 days, and those who deposit N150,000 would get N300,000 at the same period.

A deposit of N1 million would earn a N500,000 profit at the end of the same period while deposits above N1 million would be calculated in N1 million units.

The scheme berthed in Calabar in June 2018 and had been attracting patronage from residents of the city numbering about 13,000.

Some of the depositors parted with their life savings and others deposited their gratuities, which run into millions with the hope of reaping bountifully at the end of 40 days.

However, at the end of the 40 days, some depositors got paltry alerts of their money while over 13,000 others did not get anything and have since not heard from the operators of the bank in the past one month and their office in Calabar has remained shut.

The scheme started as a Swiss marketing company on WhatsApp and in less than one month, the groups grew to about 36 all providing information on the benefits of joining the scheme and attracted a lot of people to deposit their monies with the scheme’s office in the city.

“I have N33 million stocks with the scheme. It may not be much compared to what others have but this has destabilised my life and turned me to a mad woman with no bearing and I have lost interest in life and work,” a customer, Edna Nzegu, said.

Some of the depositors accused a Calabar-based comedian, MC Mbakara, of conniving with Mr Eke to fleece them of their money by promoting the scheme on his WhatsApp thread and website, which persuaded them to believe that the scheme was genuine and he has since gone into hiding.

Speaking from his hideout, Mbakara said he was not part of the company even when he was appointed vice president of the scheme by Eke.

He said: “I have been accused of so many things I am not aware of. I am not on the run and not hiding. My phone lines have been open and I am very available.” He said he was only a brand ambassador whose following on and offline was used by Eke to drive an aggressive campaign that brought a lot of depositors to the scheme.

Cross River Police Command spokesperson, Ms Irne Ugbo, said reports had been made by some depositors of the scheme and investigation is ongoing. “to unravel what the scheme is about and what actually happened to the depositor’s funds.”

BIG STORY

JUST IN: Reps Reject Bill Seeking Single Six-Year Term, Zonal Rotation For President, Governors

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The House of Representatives on Thursday, November 21, rejected a proposed constitutional amendment aimed at instituting a single six-year term for the president, governors, and local government chairmen across the federation.

The bill, sponsored by Ikenga Ugochinyere (PDP, Imo) and 33 co-sponsors, also sought to divide the country into six geopolitical zones and establish a rotational system for the presidency and governorship within these zones.

Additionally, the bill proposed that all elections be conducted on a single day.

It aimed to amend Section 132 of the Constitution by inserting a new subsection (2), deleting the extant subsection (4), and renumbering the entire section accordingly. The proposed amendment would have stipulated that elections to the office of President of the Federal Republic of Nigeria be rotated between the North and South regions every six years.

The bill also sought to amend Section 180 of the Constitution, replacing “four years” with “six years.”

Furthermore, it proposed altering Section 76 by inserting a new subsection (3), which would read: “(3) For the purpose of Section (1) of this section, all elections into the offices of President, Governors, National Assembly, and State Houses of Assembly shall hold simultaneously on the same date to be determined by the Independent National Electoral Commission in consultation with the National Assembly and in accordance with the Electoral Act.”

When the bill, which was scheduled for a second reading, was put to a vote, the majority of lawmakers voted against it. This is not the first time the House has rejected a bill seeking a six-year single term for the president and governors.

In 2019, a similar bill, sponsored by John Dyegh from Benue State, also failed to progress to the second reading.

Dyegh’s bill had also proposed a six-year term for Members of the National Assembly and State Houses of Assembly. He argued that a six-year term would allow members of the National Assembly to gain more experience, as opposed to the current four-year term.

According to Dyegh, re-election for the president and governors costs three times more than the first election and is often marked by violence. He believes a single term of five years would help curb the irregularities associated with re-election.

Former Vice President Atiku Abubakar had also proposed a further amendment to the 1999 Constitution and the Electoral Act 2022, advocating for a six-year single term for the president for each of the six geopolitical zones.

He added that the law must mandate electronic voting and the collation of results, and require the Independent National Electoral Commission (INEC) to verify the credentials of candidates, among other reforms.

The governor of Anambra State, Prof. Chukwuma Soludo, also backed calls in June this year for a single term for elected politicians.

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BIG STORY

I Appointed Aides On Garden Egg, Yam, Pepper To Boost Food Production — Enugu LG Chairman

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Eric Odo, chairman of Igbo Etiti LGA in Enugu state, has defended the appointment of aides for yam, pepper, and garden egg.

On Tuesday, Odo announced the appointments of Ezeugwu Ogbonna as senior special assistant on agriculture (yam and pepper) and Nwodo Ugonna as special adviser on garden egg and pepper.

The appointments attracted criticism from many Nigerians, who viewed the positions as an anomaly.

In his defense on Wednesday, Odo explained that the appointments were designed to increase the production of these crops in large quantities, aiming to meet local demands and support export.

The chairman emphasized that the Igbo-Etiti area is particularly well-suited to cultivating these crops and holds a significant comparative advantage.

“Their appointments are to ensure that local farmers receive adequate attention, needed resources, support, and expertise to enhance production, improve market access, and increase income for farmers,” NAN quoted Odo as saying.

“In essence, the appointment, which is wrongly misunderstood by disgruntled individuals, bad losers, and opposition, reinforces my determination to create a thriving local economy based on the strengths and potentials of Igbo-Etiti’s agricultural landscape.”

Odo explained that the decision was part of a carefully considered plan aimed at boosting productivity, creating jobs, and improving the livelihoods of farmers within the LGA’s communities.

He called on the public to disregard any online or offline comments intended to discredit the appointments, asserting that the council is committed to massive food production and sustainable development.

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BIG STORY

JUST IN: Simon Ekpa, Four Others Arrested In Finland Over Terror-Related Activities

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Finnish-Nigerian separatist agitator, Simon Ekpa, and four other individuals have been arrested in Finland over terror-related activities.

A local report in Finland stated that Ekpa, the self-declared “Prime Minister of Biafra Republic Government In-Exile,” was remanded in custody by the district court of Päijät-Häme on suspicion of public incitement to commit a crime with terrorist intent.

In a Thursday statement published on its website, the Central Criminal Police in Finland said it had arrested five people on suspicion of terrorist crimes.

The police said the main suspect was arrested “on suspicion of public incitement to commit a crime with terrorist intent,” while four others were arrested “for financing a terrorist crime.”

The police added: “Claims will be heard in Päijät-Häme district court today, November 21.”

The statement reads: “The detention demands are related to the preliminary investigation, in which a Finnish citizen of Nigerian background, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent.”

“The police suspect that the man has promoted his efforts from Finland by means that have led to violence against civilians and authorities as well as other crimes in the region of South-Eastern Nigeria.”

The statement quoted the head of the investigation, Crime Commissioner Otto Hiltunen from the Central Crime Police, as saying that “the man has carried out this activity, among other things, on his social media channels.

“Four other persons are suspected of financing the aforementioned activity. All five suspects of the crime have been arrested during the beginning of the week.”

“International cooperation has been carried out during the preliminary investigation,” the statement added.

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