News
We Don’t Know Where Wanted Yahaya Bello Is, Lawyer Cries Out For Help Over N80.2bn Fraud
The Federal High Court sitting in Abuja, on Friday, declined to set aside the order it issued for the arrest for the immediate past Governor of Kogi State, Alhaji Yahaya Bello.
The court, in a ruling that was delivered by Justice Emeka Nwite, accused the erstwhile governor of attempting to truncate the criminal case the Economic and Financial Crimes Commission, EFCC, preferred against him.
According to the court, the former governor, by briefing lawyers to challenge its jurisdiction to try him, while he remained in hiding, showed that he “has no atom of respect and regard for the court.”
The development came on a day the lead counsel to the defendant, Mr. Abdulwahab Mohammed, SAN, begged the court to give him four weeks to search for his client whose whereabouts he said remained unknown.
Mohammed, SAN, told the court that Bello had on the day he received a copy of the 19-count charge pending against him, expressed deep fear for his safety.
Bello, who piloted affairs of Kogi state for eight years, is facing a charge bordering on his alleged complicity in money laundering, breach of trust and misappropriation of public funds to the tune of about N80.2billion.
Even though he failed to appear for his arraignment, he briefed lawyers to file an application to set aside the arrest warrant that was issued against him on April 17, as well as to challenge the jurisdiction of the court to try him.
While declining to accede to both requests on Friday, Justice Nwite, said it was wrong for the defendant to treat a subsisting court order with disdain.
He held that Bello’s decision to file the applications “is clearly showing his intention not to present himself for trial,” saying he ought to have made himself available upon becoming aware of the order of arrest that was issued against him.
“The law is settled that he who disobeyed an order of court and shown disrespect to the court cannot expect a favourable discretion of the court.
“The honourable thing the defendant would have done was to obey the order of court by making himself available.
“Section 287 of the 1999 Constitution, as amended, mandates all persons and authority to give effect to orders of court.
“He has wilfully disobeyed the order of this court. An order of court of competent jurisdiction, no matter how it was obtained, subsists until it is set aside.
“A party who refuses to obey an order of court after becoming aware of it, is in contempt of court.
“He is not entitled to be heard or granted a favourable discretion. The refusal of the defendant to make himself available is solely to truncate the arraignment and prevent the court from proceeding further in this case.
News
Court Remands P-Square’s Brother, Ex-Manager Jude Okoye IOver Alleged N1.3B, $1M, £34,000 Fraud
By Kayode Sanni-Arewa
The Economic and Financial Crimes Commission (EFCC) has taken Jude Okoye, the elder brother and former manager of the defunct music duo P-Square, to court over alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59.
Jude Okoye, along with his company Northside Music Ltd, was arraigned before Justice Alexander Owoeye of the Federal High Court in Lagos on Wednesday, facing a seven-count charge related to financial crimes.
One of the charges states: “That you, Jude Okoye Chigozie and Northside Music Ltd, sometime in 2022 in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful acts, thereby committing an offence contrary to Section 18 (2)(d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Another charge alleges that Jude Okoye and his company used a Bureau de Change operator to convert $1,019,762.87 (One million nineteen thousand, seven hundred and sixty-two dollars, eighty-seven cents) domiciled in Access Bank Plc into naira and remitted the funds into various accounts with the intent to conceal the source of the money, in violation of the Money Laundering Act.
Jude Okoye pleaded “not guilty” to the charges.
Following his plea, EFCC counsel Larry Peters Aso applied for a trial date and requested that the defendant be remanded in a correctional facility pending trial.
However, defence counsel Inibehe Effiong informed the court of a pending bail application and urged the court to keep Okoye in EFCC custody until the application is heard.
The prosecution opposed the request, citing congestion in EFCC facilities and urging the court to remand him to a correctional centre instead.
Justice Owoeye subsequently adjourned the case to February 28 for a bail hearing and fixed April 14 for trial commencement.
The judge also ordered that Jude Okoye be remanded at the Ikoyi correctional facility pending the determination of his bail application.
By Kayode Sanni-Arewa
Prince Funso Ayeni, an Ikole born philanthropist and politician has donated the sum of N1,000,000 for the support of one Esther Fisayo Aluko Medical needs.
Fisayo Aluko, an Indigene of Ikole LGA part of Ekiti State is currently in need of fund running to millions of Naira to carry out a kidney transplant.
Prince Funso Ayeni made his support known via a Whatsapp platform created for the Indigenes of the LG.
“Good afternoon great citizens,
I am Prince Funso Ayeni (PhD)
I am deeply touched by the condition of Esther Fisayo Aluko, a young lady from Ikole Ekiti, battling kidney issue.
On behalf of myself, my family, and the entire Funso Ayeni Foundation (FAF), I have donated ₦1,000,000 (one million naira) towards her medical treatment ( receipt attached).
“I also appeal to our brothers and sisters from Ikole Local Government, both in and out of government, to rally their contacts and resources to support this urgent cause.
“Together, we can give Esther a chance to live a healthy life again.
By Kayode Sanni-Arewa
The naira is exchanging for ₦1,498 to 1 US Dollar at the parallel market (black market) in Nigeria.
This means that for every one dollar, you can get the equivalent in naira of ₦1,498 on February 26, 2025.
The black market rate signifies the value at which individuals can trade their dollars for naira outside the official or regulated exchange channels.
Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government
Today’s February 26 exchange shows that the naira has improved against the dollar, as it strengthened compared to what it traded on Tuesday, February 25, when the naira exchanged ₦1,499.
The value of any nation’s currency is determined by aggregate supply and demand.
The forces of supply and demand are themselves influenced by a number of factors, including interest rates, inflation, capital flow, and money supply.
The most common method to value currency is through exchange rates. The two main exchange rate systems are fixed rate and floating rate systems.
Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics
Court Remands P-Square’s Brother, Ex-Manager Jude Okoye IOver Alleged N1.3B, $1M, £34,000 Fraud
Funso Ayeni donates N1m, appeals to citizens to support Fisayo Aluko medical needs
Naira again falls against Dollar – February 26
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