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N122m fraud. Ex-Polaris manager to relax in prison pending court verdict

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Ex-Polaris Bank Manager in the Iju branch, Abiodun Sanni, was on Monday remanded in the Correctional Centre by a Lagos State Special Offences Court, in Ikeja, over alleged N122 million fraud.

Sanni was arraigned on 16 counts bordering on obtaining credit by false pretences, forgery, use of false documents and stealing by the Economic and Financial Crimes Commission.

The EFCC’s prosecution counsel, O. Adewunmi, told the court that Sanni committed the offences on or about February 24, 2020, in Lagos.

Adewunmi told the court that the defendant while he was the Bank Manager of the lju branch of Polaris Bank Limited, obtained credit in the form of a loan in the sum of N17m, for one Bamgbose Tayo Taofia trading under the name and style of Banut Haulage.

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The prosecutor said that the money was obtained from Polaris Bank Limited, by the false pretence that the loan had collateral in the form of a fixed deposit account number 0071572791, worth N111,540,380.52 belonging to Yinkus Multibiz Ventures and that the owner, one Mrs Olayinka Hannah Aderibigbe, consented to it being used as collateral.

He was also alleged to have dishonestly converted a Polaris Bank Limited fixed deposit account number 0071277522 worth N15, 011,441.00 (Fifteen Million, Eleven Thousand, Four Hundred and Forty-One Naira) belonging to Atolagbe Joshua Tinuoye, to his use.

However, the defendant pleaded not guilty to the charges preferred against him.

The prosecutor, urged the court to remand the defendant at the correctional centre, pending his trial date.

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“My Lord, the prosecutor intended to call 10 witnesses regarding this case and we urge the court to remand the defendant in custody”, Adewunmi said.

But the defence counsel, Osho Oludoshu, told the court that he had filed a bail application on behalf of his client.

In a short ruling, Justice Olubunmi Abike-Fadipe adjourned the case and ordered that the bail application should be submitted to the court before the date of trial.

“I adjourn this case to Match 6 and 19, 2025, and I remand the defendant at the correctional centre. They are entitled to bring a bail application before his trial date”, the judge held.

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President Tinubu Seeks Legislative Approval for $8.6bn, N100m External Borrowing Plan

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By Gloria Ikibah
President Bola Tinubu has written to the National Assembly, seeking the approval for N1.767 trillion ($2.209 billion) new external borrowing plan in the 2024 Appropriation Act.
This request from President Tinubu was contained in a letter addressed to the Speaker, House of Representatives, Rep. Abbas Tajudeen titled: “Request for a Resolution of the National Assembly for the Implementation of the New External Borrowing of N1.767 trillion (About $2.209 billion) in the 2024 Appropriation Act”.
In the letter read by Speaker Abbas at the resumed plenary on Tuesday, the President said the borrowing was to part-finance the 2024 budget deficit of N9.179 trillion.
According to President Tinubu, the 2024 Appropriation Act approved the sum of N7.828 trillion as New Borrowings out of which Domestic Borrowing stood at N6.061 trillion and New External Borrowing pegged at N1.767 trillion to part-finance the N9.179 trillion budget deficit.
The letter reads in part: “In accordance with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (DMO) (Establishment, Etc.) Act, 2003, and the approval of the Federal Executive Council, I write to request for a Resolution of the National Assembly to raise the sum of N1,767,610,321,779.00 (equivalent of USD2,209,512,902.22 at the Budget Exchange Rate of USD1.00/N800) provided as New External Borrowing in the 2024 Appropriation Act to part finance the budget deficit of N9.179 trillion.
“The Right Honourable Speaker may wish to recall that the 2024 Appropriation Act approved the sum of N7,828,529,477,860.00 as New Borrowings to part-finance the 2024 budget deficit of N9.179 trillion. The total New Borrowings of N7.828 trillion was further subdivided into New Domestic Borrowing of N6.061 trillion and New External Borrowing of N1.767 trillion”.
The President also explained that external borrowing funds were needed to give more momentum to the ongoing implementation of the projects and programmes in the 2024 Appropriation Act, which were designed to stabilise the economy and put it on the path of sustainable growth and development.
According to him, the key projects to which the proceeds will be deployed include the priority sectors of the economy, such as power, transport, agriculture, defence and security, while increasing accretions to the external reserves.
Likewise, President Tinubu in aletter transmitted to the House requested that it approve the 2025-2027 Medium Term Expenditure Framework and the Fiscal Strategy Paper (MTEF/FSP).
Naijablitznews.com reports that the Federal Executive Council last week, approved the MTEF/FSP which pegged the 2025 budget at N47.9 trillion, oil price benchmark at $75 per barrel, oil production of 2.06 million barrels per day, an exchange rate of N1,400/$1, and GDP growth of 4.6 per cent.
The president asked the House to expeditiously consider the
MTEF/FSP as the 2025 budget was prepared based on the document.
“It is with pleasure that I forward herewith, the 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF&FSP) for the kind consideration and approval by the House of Representatives. The 2025- 2027 (MTEF&FSP) was approved during the Federal Executive Council (FEC) meeting of 10th November, 2024.
“The House is invited to note that, as the 2025 budget of the Federal Government will be prepared based on the parameters and fiscal assumptions of the approved 2025-2027 (MTEF&FSP), it is imperative to seek National Assembly’s expeditious legislative action on this submission,” the letter stated.
In another letter to the House, President Tinubu transmitted to the House, the National Social Investment Programme Agency Establishment Amendment Bill, 2024, and requested expeditious consideration and passage.
He said the purpose of the bill was to make National Social Register a primary targeting tool for the implementation of social investment programmes of government.
According to the President, this will ensure social welfare programmes are data driven and implementation processes are transparent, targeted, dynamic and effective in delivering social protection benefits to vulnerable Nigerians.
“Pursuant to Section 58(2) of the Constitution of The Federal Republic of Nigeria 1999 (as amended), I forward, herewith, for the kind consideration and passage by the House of Representatives, the National Social Investment Programme Agency (Establishment) (Amendment) Bill, 2024, for the amendment of the National Social Investment Programme Agency Act, 2023.
“The purpose of the bill is to make the National Social Register the primary targeting tool for the implementation of social investment programmes of Government. This will ensure our social welfare programmes are data driven and implementation processes are transparent, targeted, dynamic and effective in delivering social protection benefits to vulnerable Nigerians,” the letter read.
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Catholic Church rejects $40k from Kenya’s president

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Archbishop of Nairobi Philip Anyolo said the cash would be returned and declined other pledges from

Kenya’s Catholic Church has rejected a donation of about $40,000 (£32,000) made by President William Ruto.

He offered the money towards the building of a priest’s house and as a gift to the choir during Mass on Sunday at the Soweto Catholic Church in the capital, Nairobi.

The donation followed a recent statement by Catholic bishops, who had hit out at the government for failing to fulfil their electoral promises.

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Churches have been under pressure this year from young anti-tax protesters who have accused them of being too close to politicians.

Following Ruto’s much-publicised donation on Sunday, many Kenyans urged the Catholic Church to reject the money.

The president had given around 2.6m Kenyan shillings ($20,000, £16,000) in cash, pledged the rest of the money later and also promised to give the parish a bus.

The Catholic Archbishop of Nairobi, Philip Anyolo, said the cash would be returned over “ethical concerns and the need to safeguard the Church from being used for political purposes”.

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He also declined his other pledges and said a donation of 200,000 Kenyan shillings made by the Governor of Nairobi, Johnson Sakaja – who attended the same service, was also being handed back.

“The Catholic Church strongly discourages the use of church events such as fundraisers and gatherings as platforms for political self-promotion,” Archbishop Anyolo said.

Such donations were in breach of the church directives as well as the Kenyan law, he added.

The long ties between churches and political institutions – in a country where more than 80% of the population are Christian – seem to be fraying.

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Three years ago, established churches banned politicians from using the pulpit during services in return for donations.

But the relationship was still perceived to be close – with young demonstrators accusing the churches of siding with the government when it decided to impose new taxes earlier this year.

Under the social media hashtag #OccupyChurch, many hit out at the churches for failing to take their side during the deadly protests that erupted in response to the planned tax hikes.

The uproar forced President’s Ruto’s government to withdraw the controversial finance bill in July.

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Then last week, the Kenya Conference of Catholic Bishops – which represents all Catholic bishops in the country – accused the government of perpetuating a “culture of lies”.

In a scathing statement, it also raised issues about over-taxation, corruption, violation of human rights, freedom of speech, unemployment as well as a “crumbling” education system and healthcare services.

“Despite the calmness we are experiencing, there is a lot of anxiety and most people are losing trust in the government,” it said.

In response, President Ruto appeared to hit back at the clergy, saying “we must be careful to give factual information lest we become victims of the things we accuse others of doing”.

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A senator allied to government, Aaron Cheruiyot, also accused the church of “misinformation”, adding that the “clergy must avoid being purveyors of propaganda, fake news and falsehoods”.

Many of Kenya’s Christians are Catholic – estimated to number 10 million, about 20% of the population, according to government statistics.

Other Christians belong to a variety of evangelical churches and other denominations, including the Anglican Church of Kenya – which has defended the Catholic Church’s position.

Anglican Archbishop Jackson Ole Sapit said the Catholic bishops had reflected the feelings of many Kenyans.

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“Calling church leaders names or dismissing the bishops’ statement as ‘misleading, erroneous and false,’ is itself dishonest,” he said.

“The [Catholic] bishops have spoken the minds of Kenyans and faithfully expressed the truth as things are on the ground.” (BBC)

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Four Nigerian students imprisoned for fighting in UK

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Four students of Nigerian descent have been sentenced for their involvement in a violent disorder that took place in Leicester during the early hours of November 4, 2021.

The confrontation, involving knives and a baseball bat, escalated into a large fight on New Park Street, leaving an 18-year-old man with four stab wounds requiring hospital treatment.

After a complex investigation involving CCTV analysis, phone tracking, and public appeals, the suspects were identified and charged.

A six-week trial concluded in October, with the following sentences handed down on November 14.

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Destiny Ojo, 21, of Plumstead, London: seven years for violent disorder, attempted grievous bodily harm (GBH), and GBH with intent.

Habib Lawal, 21, of Bexley, London: five years for violent disorder, attempted GBH, and GBH with intent.

Ridwanulahi Raheem, 21, of Lambeth, London: three years for violent disorder and possession of a bladed article.

Joshua Davies-Ero, 21, of Bexley, London: two years for violent disorder.

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A fifth defendant, Justin Asamoah, 22, of Merton, previously pleaded guilty to possession of a bladed article and will be sentenced on November 22.

Detective Constable Sean Downey emphasised the severity of the incident, saying: “This incident highlights the serious danger of violent disorder.

“It is extremely fortunate that further injury was not caused to the people involved or to other members of the public who witnessed the incident. This could have been a very different investigation.”

He added: “Thank you to everyone who assisted us throughout this investigation. As a force, our priority is to keep the public safe.

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“We will not tolerate violent disorder in our communities and will take action against those responsible.” (Vanguard: Text, Excluding Headline)

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