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Sterling Bank Embroiled in Money Laundering Scandal

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By Gloria Ikibah
The Nigeria police has formally accused Sterling Bank of alleged money laundering, fraudulent deductions and other financial crimes by its staff.
This was the report presented by Nigeria Police Force to the House of Representative Committee on Public Petition during the hearing of a petition by Miden  Systems Ltd against Sterling Bank, Central Bank of Nigeria (CBN) and Shell Petroleum on Tuesday in Abuja.
Naijablitznews.com reports that Miden System Ltd., had witten a petitioned to the Committee on the alleged mismanagement, fraudulent debit, and misappropriation of funds from its account domiciled with Sterling bank.
Presenting the report before the committee, representative of the Inspector General of Police, Kabiru Yahaya and Sunny Amison, both Chief Superintendent of Police said after intensive investigation and arrest made on the matter, the bank was found wanting.
According to the police, after arrest was made and an extensive investigation carried out, the bank could not provide evidence to counter the allegations made against it by Miden  System Ltd.
He said: “We were saddled with the responsibility to investigate mismanagement, fraudulent debit, and misappropriation of funds from the account of Miden  Systems Limited by Sterling Bank.
“In the course of our investigation, findings emerged about the issue of non-issuance of statement of account, fraudulent debit, and misappropriation of funds. More importantly, Miden  Systems Limited raised the issue of accounts. There are four accounts operated by Sterling Bank Plc for Miden  Systems Limited. Two are U.S. dollar accounts, while two are Nigeria NGN accounts.
“Major remittance is coming to the account of Miden  Systems Limited, to be signed with Sterling Bank, and Shell Petroleum Development Company Limited. Now, we have cutting records from Shell over the period 2017 up to 2020. Shell failed, this is our finding, Shell failed to supply the financial reports for 2021, 2022, 2023, and 2024.
“Now, having regard to the complaint of Miden  Systems that it was denied the statement of account, we interfaced with an account officer, who gave us in writing that the company is being furnished with the statement of account. And I asked how, he said electronically, or by short message service, But there is no proof. There’s no proof to debunk that aspect of the allegation.
“Secondly, we discovered from the statement of account generated by the bank, not provided by the petitioner, or its counsel, or any third party. These are accounts and statements of account generated by the bank. Ordinarily, before an investigator, we did not just call for a statement of account to just look at it and dump it.
“We looked at it holistically and saw the grey areas where there were discrepancies or where there are questions to be raised.”
CSP Amison explained, “we discovered a Debt Service Repayment Account (DSRA) where money is being used to service the loan.
“The loan offer as of 2012 was $30 million. We need to understand it was restructured in 2017, with capital and interest to arrive at US$30 million.
“Having regard to the account, we, a team of detectives, started seeing debits, debits from Miden  System account for loan repayment. And we took it upon ourselves to ask the account officer that first came before us to explain the loan repayment but he said it was a mere narration adopted while applying funds to the company’s loan account. We found this very vague and ambiguous.
“We discovered that about US$28.3 million was debited from this company’s account for loan repayment but there’s no explanation.
“Particularly, on the 29th, September 2016, the sum of US$2,413,000 was debited from the company’s account. Account number 00148517716 for loan repayment with reference FT16271UZYO. On 14th, November 2016, the sum of US$1.256 million was equally debited from this same account for loan repayment.
“While on the 16th of January 2017, the sum of US$28,302,140.59 was debited from the company’s account for loan repayment. And like I said, we’ve waited for the bank to provide account officers who have managed this account to throw more light on this. It is not our document.
“It is their own document. The facts are before them. If somebody has managed that account before and is no longer an account officer, they could call them, provide names since they are no longer in the bank.
“One of the account officers specifically wrote that the outstanding balance was about US$27.25 million, while the executive director gave us a figure of over US$30 million. That is to say, nothing has been paid, nothing has been debited to clear the loan.
“We equally discovered what the bank captured in the statement of account, in-branch transfer, account to account. And we asked, what does the bank or the account officers mean by in-branch transfer, account to account?
“We have come up with the recommendation that, since the bank has failed to provide evidence for itself to debunk the allegation raised by Miden Systems , evidence as used so far from their own statement of account corroborates the offences alleged. Financial mismanagement, Fraudulent debit, misappropriation of funds and more importantly, when funds are being moved that way, if you go deeper, money laundering. We could not even go deeply towards the petitioner raising their petition”, he stated.
In response, the Committee Chairman, Rep. Mike Etaba assured both parties that the report will be studied by the Commitee and justice served.
“At the committee level, we will look at the Police report and I assure us that justice will prevail,” Etaba assured.

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Tinubu Commissions Abuja Court of Appeal Complex, Says Rule of Law Must Operate From A Befitting Home (Photos)

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By Ojomah Austin.

 

President Bola Ahmed Tinubu on Monday reaffirmed his administration’s commitment to strengthening Nigeria’s judiciary, declaring that the rule of law must be supported by modern infrastructure, improved welfare and institutional reforms capable of deepening democracy and enhancing access to justice.

Represented by Vice President Kashim Shettima at the commissioning of the Court of Appeal Abuja Division Building Complex in Dakibiyu, Abuja, Tinubu described the new edifice as a landmark achievement under the Renewed Hope Agenda and a clear demonstration of government’s determination to restore the dignity of key democratic institutions.

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The building has two big courtrooms, eight small courtrooms, library, 10 judges suites, three conference halls, administrative offices with ancillary facilities, among others.

“This is not just a building. This is a statement. A statement that under the Renewed Hope Agenda, the rule of law will have a befitting home,” the President said.

He recalled that the Abuja Division of the Court of Appeal had for years operated from a cramped temporary facility, a situation he described as unacceptable for an institution entrusted with dispensing justice.

“A nation that seeks justice must respect the temple of justice. When I visited and saw the condition, I gave a simple instruction: fix it. Today, we have fixed it,” he stated.

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Tinubu praised the Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, for delivering the project within record time, describing him as “Mr. Project.”

“When I appointed you as Minister of the FCT, I knew you would not sleep. You promised 16 months. You delivered in record time. No excuses. No variation. Just results. Nigerians can see the difference,” he said.

According to the President, the world-class complex, which comprises two large courtrooms, eight smaller courtrooms and modern support facilities, would accelerate the administration of justice, reduce congestion in correctional centres and strengthen democratic governance.

“This is how you honour the judiciary. This is how you strengthen democracy,” he added.

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Tinubu noted that the project aligns with the administration’s commitment to judicial reforms, increased funding for the judiciary and the promotion of a just, rule-based society. He also commended the FCT Administration for building additional courts, constructing residences for judicial officers, digitising judicial processes and supporting legal education.

Addressing judicial officers, the President acknowledged the enormous responsibilities borne by the Court of Appeal, particularly in election petitions and constitutional matters.

“You deserve an environment that matches the weight of your responsibility. This complex is not a favour. It is your right. And we will do more,” he assured.

He further commended Visible Construction Limited for delivering the project, saying the accomplishment demonstrated the capacity of indigenous firms to execute world-class infrastructure projects.

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“This magnificent edifice shows that local companies have the capacity to deliver high-quality projects on time. This is the Nigeria we are building,” he said.

The President urged judges and justices to ensure justice remains swift, fair and blind to status, ethnicity or wealth.

“Let justice be swift. Let it be fair. Let it be blind to status, tribe or purse. Let the common man feel that this court is truly his last hope,” he stated.

Earlier, the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), described the commissioning as a historic moment for Nigeria’s judiciary and democracy, noting that it coincided with the 50th anniversary of the Court of Appeal.

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“This is not merely the unveiling of a significant judicial edifice. It is a powerful statement of this administration’s unwavering commitment to the rule of law, judicial independence and the strengthening of institutions that safeguard our constitutional democracy,” he said.

Fagbemi said President Tinubu had demonstrated unprecedented support for the judiciary through concrete reforms, investments and welfare improvements.

“Indeed, no administration in Nigeria’s recent history has provided the level of support to the judiciary that we have witnessed under the leadership of President Bola Ahmed Tinubu,” he stated.

According to him, one of the administration’s most notable achievements was the historic review of judicial officers’ remuneration, resulting in an increase of more than 300 per cent.

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“This was the first major upward review in decades and represented a bold response to long-standing concerns regarding the welfare and dignity of judicial officers,” he said.

The AGF added that beyond welfare reforms, the administration had embarked on one of the most ambitious judicial infrastructure development programmes in Nigeria’s history, including the construction of residences for Court of Appeal justices, Federal High Court judges and FCT High Court judges.

He further highlighted efforts to strengthen judicial capacity through the appointment and confirmation of qualified judicial officers, ensuring the Supreme Court attained its full constitutional complement of justices.

“The critical intervention has enhanced the apex court’s capacity, improved its ability to manage its caseload and significantly reduced delays in adjudicating matters of national importance,” he said.

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In his remarks, FCT Minister, Nyesom Wike revealed that the project was conceived after concerns were raised about the poor state of the Abuja Division and the inadequate accommodation available to judicial officers.

“When I informed Mr. President of the condition of the Court of Appeal, he immediately directed that we should not only provide a befitting complex but also decent accommodation for judges and justices,” Wike said.

He disclosed that the FCT Administration had completed or was nearing completion of housing projects for judicial officers across several courts.

“Tomorrow, we are going to hand over the residences for the Court of Appeal judges, on Wednesday, we will hand over those of the Federal High Court judges, and on July 17, we will hand over those for the FCT High Court. We are also flagging off housing projects for the Industrial Court and the Code of Conduct Tribunal,” he announced.

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The minister argued that judicial independence could not be achieved without adequate infrastructure and conducive working conditions.

“You cannot talk about the independence of the judiciary when the judiciary does not have a befitting environment where they can carry out their functions,” he said.

Wike also used the occasion to call on residents to fulfil their civic obligations, particularly the payment of ground rents and tenement rates.

“Development means funding. You cannot have development when there is no money. We are celebrating today, but we must ask where the money comes from. Citizens must also play their part,” he said.

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President of the Court of Appeal, Justice Monica Dongban-Mensem, described the new complex as a transformative intervention that would significantly improve the administration of justice.

“The impact of the newly constructed court complex on the administration of justice cannot be overstated. The physical environment in which justice is delivered is a decisive factor that affects the quality, speed and public confidence in judicial outcomes,” she said.

Justice Dongban-Mensem explained that the Abuja Division had long struggled with only two courtrooms and limited administrative space despite handling one of the heaviest caseloads in the country.

“The lack of infrastructure has continuously slowed down the timely administration of justice. Even when multiple panels are constituted to reduce backlog, we often have to rely on courtrooms provided by sister courts,” she noted.

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She expressed appreciation to the Federal High Court, National Industrial Court, FCT High Court and Customary Court of Appeal for accommodating the Court of Appeal over the years.

“Sometimes they suspended their own sittings to accommodate us. I am happy to say that from today, they are relieved of that burden,” she said.

In a vote of thanks, the Minister of State for the FCT expressed appreciation to President Tinubu for his visionary leadership and commitment to strengthening the judiciary through strategic infrastructure investments. She also commended Barr. Nyesom Wike for delivering transformative projects across the Federal Capital Territory and thanked members of the judiciary, legislature, media and other stakeholders for their support.

Also speaking, the Managing Director of Visible Construction Limited, Mr. Olalekan Adebiyi, said the project underscored the capacity of indigenous firms to deliver critical national infrastructure. He described the complex as a significant contribution to improving the working environment of judicial officers and commended President Tinubu and Barr. Nyesom Wike for their leadership and support in ensuring the successful completion of the project.

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The commissioning of the Court of Appeal Abuja Division Building Complex formed part of activities marking the third anniversary of the Tinubu administration and the golden jubilee of the Court of Appeal, highlighting what officials described as a renewed commitment to judicial reform, institutional strengthening and improved access to justice for Nigerians.

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Ugochinyere Slams Party Deregistration Verdict, Demands Probe of Judge

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…say ruling against ADC, APP and others undermines democracy

…insists superior court decisions have already settled the matter

By Gloria Ikibah

The National Leader of the Action Peoples Party (APP) and member representing Ideato North/Ideato South Federal Constituency of Imo State, Rep. Ikenga Ugochinyere, has strongly criticised a Federal High Court judgment ordering the deregistration of five political parties, describing the decision as a direct threat to Nigeria’s democratic system and the rule of law.

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Justice Peter Lifu of the Federal High Court in Abuja had ordered the deregistration of the African Democratic Congress (ADC), Action Alliance (AA), Action Peoples Party (APP), Accord Party and Zenith Labour Party (ZLP), following a suit filed by the National Forum of Former Legislators seeking their removal from the register of political parties maintained by the Independent National Electoral Commission (INEC).

Reacting to the ruling in Abuja on Monday, Ugochinyere argued that the judgment was inconsistent with existing judicial precedents and warned that its implementation could have far-reaching consequences for democratic participation in the country.

The lawmaker maintained that the affected parties remained legally recognised political platforms and would continue to participate in Nigeria’s electoral process. According to him, several court decisions, including judgments of the Federal High Court, the Court of Appeal and the Supreme Court, had already clarified the constitutional conditions under which political parties could retain their registration.

He contended that parties which had won elective offices at various levels of government had met the requirements stipulated under Section 225A of the Constitution and could not be lawfully deregistered.

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Ugochinyere further alleged that INEC itself had informed the court that the affected parties had secured electoral victories sufficient to satisfy constitutional thresholds.

“Our nation cannot be allowed to degenerate to that level. This judgment is an invitation to anarchy. Political parties cannot simply be wiped out in a democracy because that is not what democracy represents.

“INEC itself told the court that these parties met the constitutional requirements. Yet the judgment proceeded regardless. That is why many Nigerians are worried about the implications for democracy and the rule of law,” he stated.
The APP leader also accused the trial judge of proceeding with the matter despite the existence of a Court of Appeal order staying proceedings pending the determination of an appeal connected to the case.

According to him, legal representatives were notified at short notice for the delivery of judgment even though appellate proceedings were still ongoing.

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Describing the development as troubling, Ugochinyere called on the National Judicial Council (NJC) to urgently investigate the circumstances surrounding the judgment and determine whether disciplinary measures were warranted.

He also urged the Nigerian Bar Association (NBA) to intervene in defence of judicial integrity, warning that public confidence in the courts could be weakened if allegations of disregard for superior court rulings were not properly addressed.

“The judiciary remains the last hope of the common man. If judgments of superior courts can be ignored, then we are endangering one of the most important institutions of our democracy,” he said.

The federal lawmaker insisted that neither APP nor the other affected political parties would suspend their political activities as a result of the judgment. Rather, he said, they would continue preparations for future elections while pursuing all available legal remedies.

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He also warned against efforts to shrink Nigeria’s political space ahead of the 2027 general election, arguing that voters should be allowed to choose freely from a wide range of political alternatives.

“Let all political parties participate and let Nigerians decide who they want. Democracy is about participation and competition, not exclusion,” he said.

Ugochinyere added that Nigeria’s democratic history had been shaped by sustained struggles against authoritarian tendencies and cautioned against actions capable of reopening old political wounds or undermining confidence in democratic institutions.

He called on judicial authorities, members of the legal profession and other democratic stakeholders to act swiftly to protect the credibility of the electoral process and preserve public trust in the nation’s constitutional order.

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Ogene Fires Back at Oshiomhole Over Obi Security Claims, Calls Remarks ‘Revisionist Comedy’

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By Gloria Ikibah

A fresh war of words has erupted over the security record of former Anambra State Governor Peter Obi, with the Leader of the Nigeria Democratic Congress (NDC) Caucus in the House of Representatives, Afam Victor Ogene, launching a scathing rebuttal to recent comments made by former Edo State Governor and Senator, Adams Oshiomhole.

The controversy followed remarks by Oshiomhole during a podcast interview in which he reportedly questioned Obi’s performance on security while serving as governor of Anambra State, arguing that the former presidential candidate lacked the credentials to tackle Nigeria’s current security challenges.

Responding in a statement, Ogene described Oshiomhole’s assertions as inaccurate and politically motivated, insisting that Obi’s security record remained a matter of public record.

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“Senator Oshiomhole’s revisionist attempt to rewrite history is both laughable and insulting to Nigerians who know the facts. The data on security under Obi’s tenure in Anambra remains public record, and no amount of political grandstanding can erase it,” Ogene declared.

The lawmaker accused the former Edo governor of distorting historical facts in a bid to undermine Obi’s reputation, while also taking aim at Oshiomhole’s frequent interventions in national political debates.

Ogene further argued that Oshiomhole’s comments overlooked key events in Anambra’s political history, particularly the administrations that preceded Obi’s tenure.

“Oshiomhole has now officially joined the growing league of self-appointed press secretaries to President Tinubu. His trademark loquaciousness routinely puts him at odds with his own colleagues in the Senate, and he invariably ends up issuing humiliating apologies.

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“In his latest desperate bid for ranking status among presidential attack dogs, Oshiomhole has again flown off tangent, mangling basic facts that even secondary school students know. What revisionist history would Oshiomhole teach Nigerian children when he can not accurately situate simple national events?”, he said.

Addressing references to the Bakassi Boys vigilante group, Ogene maintained that Oshiomhole had wrongly linked the group to Obi’s administration.

He also challenged Oshiomhole’s claims regarding efforts to dismantle criminal hideouts in Anambra State, insisting that the policy predated the administration of former Governor Willie Obiano.

“For the record: the Bakassi Boys operated under the four-year administration of the late Dr. Chinwoke Mbadinuju. Yet in his haste to smear Obi, Oshiomhole conveniently erased the three-year tenure of Dr. Chris Ngige before Obi’s assumption of office in 2006.

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“Not done with his comedy of fallacies, Oshiomhole went further to claim that the demolition of kidnappers’ dens began under former Governor Obiano. False. That deterrence policy was introduced and executed by Obi”, he added.

The NDC caucus leader went on to contrast the leadership styles of both former governors, arguing that Obi’s administration focused on institutional reforms and security initiatives.

Ogene also pointed to security measures introduced during Obi’s administration, including community-based policing initiatives, which he said laid the foundation for a state-wide security framework.

“It is pitiable that a man who governed Edo State during Obi’s tenure would be so consumed by envy that he deliberately forgets basic facts. This is the same Oshiomhole who, while Obi was bringing civility and due process to governance in Anambra, was busy demolishing the houses of political opponents in Edo.

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“In deed, for a man who pioneered the current attempt at evolving a state police structure, through the recruitment, training, kitting, and provision of security vehicles to each of Anambra’s 177 communities, it is uncharitable for Senator Oshiomhole to begin now to promote a contrary narrative”, he voted.

According to Ogene, Obi’s tenure was recognised through several security-related awards, and he argued that independent testimonies from senior law enforcement officials further supported the former governor’s record.

“Despite several security-related awards garned by Obi as governor, Oshiomhole’s desperate revisionism collapses under the weight of verifiable testimony. Philemon Leha, who served as Commissioner of Police in Anambra State during Mr. Peter Obi’s tenure has put the record straight.

“As I undertook my assignment in the state, I was greatly encouraged by the commitment and determined focus of Governor Obi. Security was on his priority list, and he always offered us logistics and other support on a scale I had not witnessed elsewhere.

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“This is firsthand evidence from the man who ran security operations on the ground. While Oshiomhole peddles fallacies from a podcast chair, those who actually secured Anambra credit Obi’s leadership, logistics, and political will. Facts always triumph propaganda. 

“The unprovoked and coordinated attacks on Mr. Peter Obi’s person and political aspiration, by hirelings across both the ruling party and the opposition, are unprecedented. They point to only one thing: Obi is the real issue in the conversation for the 2027 general elections. 

“Yet, Obi has committed no crime by aspiring to lead. He has not barred anyone from contesting for the presidency. So it is both strange and uncharitable that many now want him muscled out of the race out of sheer jealousy and palpable fear of his rising popularity. 

“Like every other Nigerian, Obi is entitled to exercise his fundamental rights. Oshiomhole, and any one else, is free to run for the highest office if they so desire. No amount of sponsored smear campaigns,therefore, can deny Obi of that same democratic rights,” Ogene stated. 

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The exchange adds to the growing political debate surrounding the records of leading political figures as discussions ahead of future electoral contests continue to gather momentum.

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