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Yahaya Bello asks Federal High Court to adjourn case indefinitely

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By Francesca Hangeior.

 

Former Kogi governor Yahaya Bello has asked the Federal High Court, Abuja, to adjourn, indefinitely, the ongoing case instituted against him by the Economic and Financial Crimes Commission(EFCC).

He also asked the court to vacate its arrest order on him, pending the determination of an appeal he filed at the Court of Appeal, Abuja.

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Bello’s demands are contained in a letter written by Musa Yakubu, his Counsel, who is a Senior Advocate of Nigeria(SAN).

The letter was dated July 12 and addressed to the trial Judge, Justice Emeka Nwite, ahead of Bello’s arraignment scheduled for Wednesday, July 17.

Bello is being tried for allegedly laundering N80 billion.
But, in his appeal against his trial, Bello has expressed fears over his fate if the case is left to proceed.

In the Appellate case with file no. CA/ABJ/CR/535/2024, Bello is seeking that the Warrant of Arrest he says was illegally issued against him on April 17, 2024, be set aside.

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He also wants a return of the case file to the Chief Judge of the Federal High Court, for re-assignment to another Judge.

The Appeal was filed against the decisions of the trial Federal High Court, Abuja, in Charge No. FHC/ABJ/CR/98/2024.

The former governor is also seeking an order of the Appeal Court setting aside service of the EFCC Charge on him by substituted means, including the entire proceedings already conducted in the case.

In the letter, Bello requested that further proceedings in the charge be adjourned sine die, pending the determination of the appeal currently pending at the Court of Appeal, Abuja.

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The letter, a copy of which was sent to the National Judicial Council (NJC), and Chief Judge of the Federal High Court, was in response to a letter to Justice Nwite, by the EFCC, dated July 8, 2024 and filed on the July 10, 2024.

In the said letter, the EFCC requested for a variation of the earlier warrant of arrest issued against Bello, additionally requesting that the various security agencies be specifically directed to carry out the earlier arrest.

Responding to the EFCC’s application, Bello’s counsel urged the Court to decline the request and await the outcome of the appeal pending at the Court of Appeal over the said warrant of arrest and other related pronouncements of the trial Court.

Bello’s counsel made reference to the position of the law as contained in Order 4 Rule 11(1) of the Court of Appeal Rules, 2021 and the pronouncement of the Supreme Court in the case of Vab Petroleum INC V. Momah (Supra), and a litany of other cases.

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“We respectfully urge the Court to set aside and expunge from its records, the proceedings of the 27th June, 2024, including any ruling, order or directive carried out in the face of the defendant’s appeal entered on the 24th of May, 2024,” he said.

He asked the court to “adjourn further proceedings in this charge sine die, pending the determination of Appeal No: CA/ABJ/CR/536/2024 entered by the defendant, and pending at the Court of Appeal, Abuja”.

The letter read in part: “The defendant to the Charge had, on the 17th of May, 2024, filed a notice of appeal against the ruling of this Court made on the 10th of May, 2024 refusing to discharge the warrant of arrest issued against the defendant.

“The defendant, pursuant to the said notice of appeal, compiled and transmitted record of appeal to the Court of Appeal and entered on the 24th of May, 2024, Appeal No: CA/ABJ/CR/536/2024.

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“Notwithstanding the foregoing, the complainant has now filed the above referenced application seeking for the amendment of the warrant of arrest which was hitherto directed to the complainant only, to have it extended to the heads of other security and law enforcement agencies listed in the prosecuting Counsel’s letter.

“The court cannot countenance the application or do anything with respect to the aforesaid warrant of arrest or conduct further proceedings in this charge in view of the provisions of Order 4 Rule 11(1) of the Court of Appeal Rules, 2021 which is to the effect that: ‘After an appeal has been entered and until it has been finally disposed of, the Court shall be seized of the whole of the proceedings as between the parties thereto.
“Except as may be otherwise provided in these rules, every application therein shall be made to the court and not to the lower court”.

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Before final liquidation, NDIC set to auction Heritage bank properties

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In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of auctioning the landed properties and chattels of the defunct bank.

According to the Corporation, this exercise is in line with its statutory powers as the Liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023, noting that; “This is another follow-up action sequel to the disposal of physical assets and chattels belonging to the defunct bank at its leased locations nationwide”.

This was contained in a statement signed by the Director, Communication and Public Affairs Department, Bashir A.

Therefore, the auction of the landed assets shall be by competitive bidding in sealed bids scheduled to take place at the six (6) selected locations of the Corporation across the country, for the affected 36 branches of the failed bank beginning from Wednesday 4th December 2024.
“Buyers who wish to participate in the auction are expected to follow laid down guidelines purposely aimed at ensuring transparency, fair competition, equity, and accountability to enable recovery of commensurate values from the exercise. This is critical for the payment of liquidation dividends to eligible claimants.

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The Corporation shall give preference to financial institutions who are willing to buy at the highest auctioned value to allow for the continuation of provision of banking services to the Nigerian public at the designated locations”, adding; “This is desirable towards bolstering financial inclusion as envisaged by the financial system regulatory authorities.

“However, Corporate bodies and Private individuals willing to compete are equally eligible to compete in the process without prejudice, the auction shall be open and competitive to all bidders.

Furthermore, bidders will be allowed to inspect the properties and chattels across all locations one week before the date of disposal.”

Importantly too, the statement said; “All interested parties are to make available 10% bid security of the value of their sealed bids to be dropped in the bid box provided at the specific centre out of the six locations of the Corporation as contained in the published advertisements.

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“All interested bidders are advised to submit their bids only at the designated NDIC offices covering their choices amongst Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.”

Meanwhile, the Corporation has vowed that there would be no hiding place for debtors of the defunct Heritage Bank whose financial obligation portfolio is in the region of over N700 billion.

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Naira slumps in parallel market

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The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.

According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.

The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.

As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.

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Sad! Body of COAS, Lt General Taoreed Lagbaja, ready to be airlifted to Abuja(Photos)

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Body of the Chief of Army Staff, Lt General Taoreed Lagbaja, ready to be airlifted to Abuja.

SEE PHOTOS BELOW:

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