News
Alleged fraud: Court admits oil magnate, Akintoye, to N500m bail
Justice Emeka Nwite, in a ruling, held that though he was not unmindful of the serious nature of the offence preferred against the defendant but he was minded to grant the bail in the interest of justice.
Justice Nwite, who ordered that the two sureties shall depose to affidavit of means, directed that the sureties must have landed property within the jurisdiction of the court and the documents deposited with the deputy registrar of the court.
He ordered that all his international passports be deposited with the registrar and shall not travel without the permission of the court.
He also ordered that Akintoye and the sureties shall deposit two recent passport photographs each and the residence of the sureties verified by the court registrar.
The judge, who ordered that both the prosecution and defence counsel shall supervise and interview the proposed sureties before Akintoye is released on bail, adjourned the matter until March 4 for trial.
The News Agency of Nigeria (NAN) reports that Justice Nwite had, on Dec. 31, 2024, fixed today for ruling after Esedo and Martha Babatunde, who appeared for the EFCC, argued their case for and against the bail application.
Esedo, while moving the application, had posed a question whether the defendant was entitled to bail.
The lawyer argued that issues of bail is a matter of discretion which is exercised judicially and judiciously by the court.
He said Akintoye is presumed to be innocent until proven guilty, adding that he had met all the requirements for granting bail.
Esedo assured that if granted bail, the defendant would not jump bail and was ready to stand his trial.
Besides, he said that the anti-graft agency had already concluded its investigation, having held him for 55 days.
Babatunde, who vehemently opposed the bail plea, argued that Sections 158 and 162 of the Administration of Criminal Justice Act (ACJA) did not impose on the court to grant bail.
The lawyer, who argued that a bail is not granted as a matter of must, said it is the duty of the applicant to place sufficient evidence before the court.
She argued that the evidence against Akintoye was weighty as it bordered on serious national economic sabotage and financial crime which is currently ravaging the country.
She said if admitted to bail, Akintoye would not attend trial, describing him as a flight risk.
NAN reports that Akintoye, in the four-count charge, was alleged to have diverted a sum of $26,,060, 406.00 US dollars meant to build a refinery in Brass, Bayelsa.
Akintoye, Platform Capital Investment Partners Limited and Duport Midstream Company Limited, where he is also the Managing Director and CEO, were sued as 1st to 3rd defendants respectively, by the anti-graft agency.
The EFCC, in the charge marked: FHC/ABJ/CR/641/V/2024 dated and filed on Dec. 19 by its lawyer, Ekele Iheanacho, SAN, alleged that Akintoye and Platform Capital Investment Partners Limited had between December, 2020 and February, 2021, indirectly retained 16 million dollars.
The amount, the EFCC said, was part of the funds dishonestly converted from the money paid by the Nigerian Content Development and Monitoring Board (NCDMB) Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment.
The said sum of $16, 006, 000 is alleged to constitute proceed of unlawful activity.
The offence, EFCC said, is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 20!2) and punishable under Section [5(3) of the same Act, among other counts.(NAN)
BY ANKELI EMMANUEL, Sokoto
The Deputy Speaker, Sokoto State House of Assembly, Kabir Ibrahim kware, has commended governor Ahmed Aliyu for executing numerous developmental projects without taking loan from any financial institution.
Ibrahim Kware whp gave the commendation when he led other members of the State Assembly on Sallah homage to governor Aliyu, added that, the governor is very prudent in managing resources to achieve results.
“There was never a time you approached us with a request for permission to borrow money from any financial institutions whether at home or abroad,”he affirmed.
This , according to him, is worthy of commendation considering the myriad people- oriented projects the governor is executing across the state.
Speaking on behalf of the State’s Judiciary, Sokoto State Chief Judge, Justice Muhammad Sa’idu Sifawa, commended the governor for the construction of additional Court rooms at the State High Court.
Justice Sifawa also expressed delight over the way and manner the governor responds to issues affecting the Judiciary, which he said, is a clear testimony of the good working relationship existing between the three arms of government in the state.
Responding to the commendations, governor Ahmed Aliyu appealed for more synergy among the three tiers of government in the overall development of the state.
A statement by Abubakar Bawa, the Press Secretary to governor Alhmed Aliyu reaffirmed his principal’s unwavering commitment of the executive arm to providing the direly needed dividends of democracy to the people of the state,in line with his campaign promises.
The governor also urged lawmakers to present all the needs of their constituencies for prompt and diligent implementation.
“”I want to assure you that my doors are always open for you at any given time, to listen to the demands of your people.”
He reminded them on the need to put politics aside and work together with the executive arm for the progress and even development of the people they represent.
Turning to the members of the State Judiciary, the governor appealed to Judges and Khadis to ensure the quick dispensation of justice, so as to decongest the correctional centres.
“It is worrisome to see how inmates are languishing in correctional centres for minor offences in the name of awaiting trial.
“We recently appointed seven additional Judges and 7 Khadis, which is the first in the history of Sokoto State.
“The idea is to enhance the manpower in our Judiciary so as to speed up the dispensation of justice,” he added.
The governor further assured the members of the Judiciary of his administration’s readiness to ensure their welfare at all times.
BY ANKELI EMMANUEL, Sokoto
The Sultan of Sokoto and President General, Nigeria Supreme Council for Islamic Affairs (NSCIA) Muahammad Sa’ad Abubakar 111 has commended the developmental strides of Sokoto state governor, Ahmed Aliyu, just as he assured of the support of traditional institutions in the state.
Sultan who admonished other governor’s to also borrow a leaf from governor Ahmed Aliyu who ensures that resident communities enjoys equal benefit from everybody, added that, Nigerians should project what unites us moe than that which divides us.
“In Sokoto, we appreciate what the Governor is doing and we’d like to assure him of the support of the traditional institution so that he can continue the good work he’s doing of transforming our State.
“The Governor and our security agencies are doing their best and this has made the state to record tremendous improvement in the fight against banditry,” the Sultan averred.
While adding that governor Ahmed Aliyu deserves special commendation for the massive distribution of food items during the just-concluded Ramadan fast, Sultan urged Nigerians to always be law-abiding and desist from any act that may jeopardise the long lasting peace the country is enjoying.
Registering his displeasure over how the social media is been used negatively to promote and sow seed o discord, the Sultan said, some unpatriotic citizens use social media to spread falsehood, misinformation and provocative statements that can destroy the peaceful atmosphere the country is enjoying.
He, therefore, called on the security agencies in the country to be watchful of the unpatriotic citizens trying to create chaos in the land.
Speaking during his
Sallah homage on governor Ahmed Aliyu at the Banquet Hall, Presidential Lodge, Sokoto, Sultan
said, “”In Sokoto all Nigerians are treated as indigenes, an act that gives Nigerians residing in the State a sense of belonging.
Sultan equally stressed the need for for state governors to give much emphasis in protecting the lives and property of their subjects, describing security as the basis upon which all societies could progress.
Responding, governor Ahmed Aliyu reassured his administration’s determination to do everything humanly possible to make the state safe and secured.
He blamed unemployment especially among the youths as responsible for the insecurity being recorded in many parts of the country.
According to Aliyu, many youths have joined informants’ groups so as to be getting stipends to make ends meet.
“This administration has so far trained and graduated thousands of youths and women in different trades so as to make them productive members in the society.
” I want to assure you that we would soon embark on another massive skills acquisition programme to engage more unemployed youths in our modest attempt to reduce restiveness among our youths,” he vowed
Gov. Aliyu further reassured the people of the state that his administration would continue to prioritize Islamic affairs, adding that more Mosques and Islamiyya schools would continue to receive the desired attention from the state government.
He thanked the people of the state for their fervent prayers and support to his administration and called for it’s sustainance.
Sterling Bank has made a groundbreaking move by eliminating transfer charges on local transactions, aiming to create a more equitable banking experience for Nigerians. The question now arises: will other financial institutions follow this lead?
On April 1, Sterling Bank announced the removal of transfer fees for all local digital transactions, positioning itself as the first major bank in Nigeria to implement such a policy. Initially, the announcement faced skepticism, with many believing it to be an April Fools’ Day joke. However, Sterling has since reaffirmed the policy’s legitimacy and immediate implementation, signaling a significant evolution in the industry’s customer service approach.
Obinna Ukachukwu, the Growth Executive overseeing the Consumer and Business Banking Directorate, stated, “We believe that accessing your own funds should not incur a penalty. This decision transcends financial implications; it reflects our core values.”
With this new policy, Sterling customers can now make free transfers for all local transactions via the bank’s mobile app. This initiative is anticipated to yield considerable savings for individuals and small business owners who frequently engage in transfers.
“We may not be the largest bank in Nigeria, but we are certainly the most audacious,” Ukachukwu declared. “Sterling Bank is committed to the future of Nigeria, and we are backing our fellow citizens with more than just words.”
Sterling Bank has a history of prioritizing customer welfare, having previously offered financial assistance to healthcare workers during the COVID-19 pandemic. This latest initiative has garnered widespread public support, igniting conversations on social media and prompting calls for other banks to adopt similar practices.
“We take pride in leading this transformative change,” Ukachukwu concluded. “We hope to inspire others to rethink what customers truly require from their banks, not only in terms of services but also in values.”