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Yahoo Boy Odeh Sentenced For N6m FCMB Fraud

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In a significant legal development, Ukoh Michael Odeh, known as a “Yahoo Boy,” has been handed a prison sentence for depositing N6 million in illicit gains into his First City Monument Bank (FCMB) account in Abuja.

This case, heard by Justice O.A. Egwuatu of the Federal High Court, Maitama, Abuja, sheds light on the consequences of financial misconduct and fraudulent activities.

The court proceedings revealed that Odeh had deposited N6 million into his FCMB account, bearing the number 4668442010. However, he was unable to provide a satisfactory explanation for the origin of these funds, raising suspicions of unlawful activities.

The Economic and Financial Crimes Commission (EFCC), Makurdi Zonal Command, took action after receiving an intelligence report highlighting suspicious activities involving individuals suspected of being involved in internet fraud in Makurdi.

This prompted Odeh’s arrest during a sting operation.

The charge against Ukoh Michael Odeh read as follows: “That you, Ukoh Michael Odeh, between 2022 and 2023 in Makurdi, Benue State within the jurisdiction of this Honourable Court did fail to account for the source of N6,000,000 (Six Million Naira only) in your FCMB account No: 4668442010 when you reasonably ought to have known or suspected that the said unaccounted funds formed part of the proceeds of an unlawful activity to wit: Fraud and Money laundering and thereby committed an offence contrary to Section 20 (a) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 20(b) of the same Act.”

Ukoh Michael Odeh pleaded guilty to the charge when it was presented to him.

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Following this admission of guilt, the prosecuting counsel, M. Yusuf, urged the court to proceed with the conviction.

Justice Egwuatu subsequently convicted Odeh and imposed a one-year prison sentence.

An alternative option of a N300,000.00 fine was also provided.

Additionally, the court ordered Odeh to forfeit N300,000.00 as restitution to the Federal Government of Nigeria through the EFCC.

In a further measure to deter criminal activities, the court ruled that Ukoh Michael Odeh should forfeit an Infinix 7 smartphone, identified as proceeds of criminal activity, to the Federal Government of Nigeria.

This legal outcome serves as a stark reminder of the consequences individuals face when involved in fraudulent financial activities.

It reinforces the commitment of law enforcement agencies to combat financial crimes and money laundering, sending a clear message that such actions will not go unpunished.

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Centre demands prosecution of IBB over June 12 annulment

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By Abubakar Yunusa

A leading civil society organisation, the Resource Centre for Human Rights & Civic Education (CHRICED), has called for the immediate arrest and prosecution of former military ruler General Ibrahim Babangida over his role in the annulment of the June 12, 1993, presidential election.

In a statement released on Thursday in Abuja, CHRICED’s Executive Director, Comrade Ibrahim M. Zikirullahi, described Babangida’s recent self-incriminating remarks as a critical test for President Bola Ahmed Tinubu’s administration.

He asserted that failure to hold the former leader accountable would undermine Tinubu’s moral and political legitimacy.

“We firmly assert that if President Tinubu fails to take decisive action against General Babangida and does not ensure that he faces the consequences of his actions—specifically, imprisonment, which is where he rightfully belongs—he will lack the moral and political legitimacy to govern effectively,” Zikirullahi stated.

The organisation argued that Babangida’s candid admission of his role in annulling the election paints him as a figure who has evaded justice for too long.

It warned that failure to prosecute him would further entrench a culture of impunity in Nigeria.

The statement also highlighted the tragic aftermath of the annulment, including the deaths of protesters and the imprisonment of pro-democracy activists.

Among those mentioned were Chief MKO Abiola, the presumed winner of the election, who was detained and later died under suspicious circumstances, as well as journalist Dele Giwa, whose unresolved murder remains a symbol of repression during Babangida’s regime.

“For decades, successive governments have claimed a lack of evidence to prosecute Babangida.

However, with his recent confessions and public statements, there is now compelling evidence for legal action,” CHRICED said.

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The organisation also criticised the financial waste associated with the annulled election, arguing that resources used to conduct the poll could have been better utilised for national development.

The center blamed Babangida’s administration for fostering a political culture where power is acquired through manipulation rather than democratic means.

“The decisions made by Babangida and his associates have led to the infiltration of unqualified individuals into various positions of authority, undermining governance and eroding public trust,” the statement read.

CHRICED urged President Tinubu to take a stand for justice, insisting that addressing Babangida’s role in the June 12 annulment is crucial to restoring faith in Nigeria’s democratic process.

“This is not just about the past; it is about Nigeria’s future. If impunity is allowed to persist, the cycle of injustice and corruption will continue to plague our nation,” Zikirullahi warned.

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U.S. department ‘accidentally’ cut Ebola prevention – Elon Musk

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Elon Musk, U.S tech billionaire on Thursday revealed that the U.S. government accidentally cut Ebola virus prevention efforts.

Musk told a U.S. Cabinet meeting that the Department of Government Efficiency (DOGE) had made mistakes as it cut jobs and programmes in recent weeks.

“We won’t be perfect, but when we make mistake, we’ll fix it very quickly.”

Musk, who is not a Cabinet member or an elected official, said one such mistake was “accidentally” cancelling Ebola prevention while cutting U.S. development aid agency USAID.

“I think we all want Ebola prevention. So we restored the Ebola prevention immediately, and there was no interruption,” Musk said.

“But we do need to move quickly if we are to achieve a trillion dollar deficit reduction in financial year 2026.

“It requires saving 4 billion dollars per day, every day, from now through the end of September,” he added. “But we can do it, and we will do it.”

Ebola is a contagious and life-threatening infectious disease. The virus is transmitted through physical contact and contact with bodily fluids.

USAID is one of the largest aid agencies in the world, employing around 10,000 people, two-thirds of whom work outside the United States.

It is responsible for doling out much of the U.S. government’s humanitarian assistance to developing countries and countries in crisis.

U.S. President Donald Trump’s administration has effectively dismantled the agency, placing almost all staff on leave.

Trump froze the agency’s funds in January pending an internal review, impacting a vast array of initiatives around the globe. (dpa/NAN)

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North Korea behind $1.5bn cryptocurrency heist – FBI

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The U.S. Federal Bureau of Investigation (FBI) on Thursday said that North Korea is behind the theft of about 1.5 billion dollars in digital assets from a cryptocurrency exchange, .

The company said hackers stole about 1.5 billion dollars in digital assets from Dubai-based crypto exchange Bybit on Feb.19, marking the biggest cryptocurrency heist ever recorded.

The FBI warned that the assets will be laundered and eventually converted into currency.

“FBI refers to this specific North Korean malicious cyber activity as ‘TraderTraitor,’ the FBI said in a public announcement.

“Trader Traitor actors are proceeding rapidly and have converted some of the stolen assets to Bitcoin and other virtual assets dispersed across thousands of addresses on multiple block chains,” the agency said.

“It is expected these assets will be further laundered and eventually converted to fiat currency.”

Fiat currency refers to government-issued currency that is not backed by a physical commodity such as gold.

Bybit has offered a bounty to those that help them recover the losses, setting up an online system to trace and freeze stolen funds.

Chief executive Ben Zhou said transparency was not just a principle, but “our most potent weapon” against cybercrime.

“We are taking a stand to ensure that every transaction is visible and every hacker is held accountable.

“Our multifive-pronged offensive is a clear message: if you steal, you will be found, and justice will be swift,” said Zhou. (dpa/NAN)

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