News
Again! Court Forfeits Another $1.4m Linked To Ex-CBN Boss, Emefiele

By Kayode Sanni-Arewa
Justice Ayokunle Faji, of a Lagos Federal High Court, on Wednesday, ordered interim forfeiture of the sum of $1, 426, 175.14 million, linked to the former governor of the Central Bank of Nigeria (CBN) Godwin Ifeanyi Emefiele.
Apart from forfeiting the mentioned sum, Justice Faji also, ordered the EFCC to published the interim forfeiture order in a national newspaper, for anyone interested in the money sought to be forfeited to appear before the Court and show cause within 14 days, why the final order of forfeiture of the said sum should not be made in favour of the Federal Government of Nigeria.
Justice Faji, made the above orders, while granting an Exparte motion marked FHC/L/CS/232/2024, moved by Mrs. Bilikisu Buhari-Bala, lawyer to the Economic and Financial Crimes Commission (EFCC).
The money forfeited in the interim is said to be in Donatone Limited’s account number: 2000000500 domiciled in Titan Bank Limited.
In asking the court for the orders, Mrs. Buhari-Bala, told the court that the orders sought for are pursuant to Section 17 of the Advance Fee Fraud and other fraud-related Offences Act No. 14, 2006, and Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.
She also informed the court the grounds for the orders are: “that this honourable court has the statutory powers under the provisions of section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006 to grant the reliefs being sought.
“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.”
Mrs. Buhari-Bala also told the court that he motion Exparte is supported with an affidavit deposed to by one David Jayeoba, an investigator with the EFCC.
In the affidavit, the deponent stated that his commission received a credible and directed intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account, which funds are reasonably suspected to be part of proceeds of unlawful activities.
The deponent stated that the EFCC, whilst investigating the monumental fraud carried out by the erstwhile Centra Bank of Nigeria Governor, Mr Godwin Emefiele (GE) and his Cronies, discovered a huge amount of money warehoused and concealed in the account of Donatone Limited, domiciled in Titan Trust Bank.
He stated that investigation revealed that some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Mr Godwin Emefiele, are the natural persons behind Donatone Limited, Uzeobo Anthony and Adebanjo Olurotimi, who are directors Donatone Limited.
The deponent further stated the followings: “Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex.
“That Uzeobo Anthony and Adebanjo Olurotimi used the firm, to collect bribes and gratification on behalf of Godwin Emefiele, to get approval for accessing Forex. And that one of the entities (NP) paid a total sum of $26,552 million USD, into the account of firm domiciled in Titan Trust account number 2000000500.
“That the said credits came into the account of firm on November 9, 2021: $6,450,000; November 5, 2021: $6,050,000.00; December 16, 2021: $5,400,000.00; December 23, 2021: $652,000; January 31 2022; $3,000,000.00 and September 21, 2022: $5,000,000.00.
“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.
“That of the total sum of $26, 555, 000.00 US dollars received by firm, the balance standing in the said account as at today is the sum of $1, 426, 175.14 million USD.
“That it is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of (GE) and his cronies. And that investigation further revealed that the international entities sourcing for forex were pressured into parting with huge funds to access forex during the period.
“That the signatories to the account warehousing the sum of $1, 426, 175.14 million USD, sought to be forfeited are at large and are making frantic efforts to dissipate the funds electronically. And that based on our investigation findings, the funds sought to be forfeited are proceeds of unlawful activities of (GE) and his cronies. And that it is in the interest of justice to grant this application.”
Justice Faji, after granted the orders, adjourned the matter to June 25, for hearing of the final forfeiture of the money.
It would be recall that Justice Yelim Bogoro had on May 25, 2024, ordered interim forfeiture of $4.7m, N830m, and some properties assets linked to Emefiele
The monies forfeited to the Federal Government in the interim were said to be warehoused in First Bank; Titan Bank and Zenith Bank, being operated by Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd; Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.
While the properties forfeited in the interim are: His properties forfeited to the Federal Government include 94 Units of an 11-floor building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, iKoyi, Lagos; AM Plaza, 11-floor office space, situate on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos, Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B. Lot twin completed property in Lakes Estate, Lekki, Lagos.
News
Just in: Kidnapped corps member regains freedom after N1.1m ransom payment

By Kayode Sanni-Arewa
A National Youth Service Corp member, Rofiat Lawal, who was abducted along the Benin-Ore Expressway on Tuesday has regained freedom after her family paid a ransom of N1.1m
The abductors were said to have demanded an N20m ransom which her family appealed that they could not afford.
Following back-and-forth negotiations, the kidnappers reportedly reduced the N20m ransom to N5m.
Giving an update on the incident, Lawal’s friend identified as Agbakwara, who was privy to the incident, disclosed on Saturday that Aminat has regained her freedom.
Sharing a video of the victim in a Facebook post, Agbakwara wrote, “In the early hours of Friday, the kidnappers pressured us, warning that if we failed to meet their demands, we should not expect her return.
“In desperation, I reached out to everyone I could, her colleagues in school, the Muslim association, her friends from her hometown, my fans, and her family.
“Through the collective efforts and generosity of so many, we were able to raise N1.1 million, which was sent at 4:20 pm on Friday to an account provided by the kidnappers.
“The recipient, Isaac Ayo, claimed that his sister had also been kidnapped and assured us he would deliver the ransom alongside his own.”
He stated that Lawal was finally reunited with her family on Saturday morning.
“For hours, we anxiously waited. Finally, at around 10 pm, we received the long-awaited call: they had been released and taken to the hospital.
“This morning, we got another call confirming that Rofiat was on her way home, and the others had also safely returned to their families.
“I want to express my deepest gratitude to everyone who contributed, shared the news, and tagged the necessary authorities. Your support made this possible,” he concluded.
The Punch
News
Lagos High Court sentences Indian citizens to 10years jail over procurement fraud

By Kayode Sanni-Arewa
An Indian national Chandra Singh has been sentenced to ten years jail over N816million procurement fraud.
Justice I.O. Ijelu delivered the judgment convicting Singh on charges of bribery and retention of stolen property amounting to N816,361,386.75.
The Economic and Financial Crimes Commission (EFCC) had arraigned Singh on 24 November 2022 on a 19-count charge.
The prosecution accused him of soliciting undue advantage for his company, CVN Engineering Limited, while employed at African Natural Resources and Mines Limited.
One of the charges stated, “That Chandra Prankash Singh, on or before 1st of January, 2021, within the jurisdiction of this Honourable Court, whilst in the employment of African Natural Resources and Mines Limited, solicited indirectly to confer undue advantage for your company, CVN Engineering Limited, in order that you influence your employee to award the supply of items costing N365,757,457.00 to CVN Engineering Limited.”
Another charge detailed a similar offence involving Neo Paints Nigeria Limited, stating, “That Chandra Prankash Singh, on or before 1st of January, 2021, within the jurisdiction of this Honourable Court, whilst in the employment of African Natural Resources and Mines Limited, solicited indirectly to confer undue advantage for your company, Neo Paints Nigeria Limited, in order that you influence your employee to award the supply of items costing N243,141,638.75 to Neo Paints Nigeria Limited.”
Singh was also accused of dishonestly retaining $4,150 belonging to African Natural Resources and Mines Limited.
He pleaded “not guilty” to all charges, leading to a full trial.
During the proceedings, prosecution counsel Bilikisu Buhari called nine witnesses and presented documentary evidence to establish Singh’s guilt.
After reviewing the evidence, Justice Ijelu found him guilty on counts 14, 15, 16, 17, and 18.
The judge sentenced Singh to 10 years imprisonment without an option of a fine and ordered him to pay restitution of N345 million to his victim.
The case concluded with Singh’s conviction for his involvement in the fraudulent scheme, which saw him exploit his position for personal gain.
News
Just in: FG Fails To Pay NYSC Members New N77k Allowance Despite Promises

By Kayode Sanni-Arewa
The Federal Government has failed to pay N77,000.00 earlier promised to take effect at the end of February, 2025.
Corps members confirmed receiving their February allowance on Friday night, only to find out that it remained unchanged at N33,000 — less than half of the new amount that was supposedly approved.
The development contradicts the assurances given in January by the NYSC Director-General, Brigadier General Yushau Ahmed, who had publicly stated that the allowance increment was a done deal, awaiting only the passage of the 2025 budget.
The Federal Government has already approved the increment of your allowance. It is no longer news; we have the approval in our hands. What we are waiting for is just the passage of the budget,” Ahmed had told corps members in Katsina State, vowing that by February, they would start receiving N77,000.
However, February has come and gone, and the promise remains unfulfilled.
The Tinubu government has not provided any official explanation for the failure to implement the increase, leaving corps members stranded and frustrated in the face of a worsening economic crisis.
With Nigeria’s inflation rate soaring and the cost of living becoming unbearable, the N33,000 allowance is no longer enough for corps members to meet even their basic needs.
Many struggle to afford food, transportation, and accommodation, as prices of essential commodities skyrocket due to bad economic policies and naira depreciation under Tinubu’s administration.
A corps member serving in Oyo expressed his disappointment, saying, ”How do they expect us to survive on ₦33,000 when everything is expensive? They told us we would get ₦77,000 this month, and now they have failed again. This government keeps making promises but never delivers.”
Another corps member in Kano lamented that the delay in the allowance increment is yet another example of the government’s insensitivity to the struggles of young Nigerians.
“We are serving our country, yet we cannot even afford decent meals. The government knows that ₦33,000 is not enough, but they don’t care. They keep making empty promises while we suffer,” she said.
The failure to implement the promised allowance increase has further eroded trust in the Tinubu administration, which has been widely criticised for its economic policies that have. worsened inflation, unemployment, and poverty across the country.
SAHARA REPORTERS
-
News14 hours ago
Tinubu, Senate to beam searchlight on se3ual allegations against Akpabio
-
News20 hours ago
Obasa’s Return To House: Police deny any link to such development
-
News20 hours ago
THROWBACK! “I Asked IBB If He Had Blood Oath With Abacha’ – Gen Williams
-
News5 hours ago
SAD! 60 passengers d3e in Kwara auto crash
-
News14 hours ago
ECOWAS Court quashes case on Kudirat Abiola’s murder
-
News15 hours ago
Meta dismisses employees for revealing confidential information
-
News5 hours ago
Just in: “Start Throwing Articles of Impeachment on Fubara now– Ohanaeze Tells Rivers Speaker
-
News15 hours ago
Mekunnu ‘koya’ throws weight behind Lagos Assembly on impeachment of Obasa as Speaker