News
‘EFCC boss Olukoyede risks imprisonment over alleged contempt of court’
A Federal High Court sitting in Yenagoa, the Bayelsa State capital, has said the Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, risks imprisonment over his alleged refusal to comply with its ruling in a suit filed against the commission by the Bliss Multinational Perfection and the Chief Executive Officer of Baraza Multipurpose Cooperative Society Limited, Oyinmiebi Bribena.
In his judgment on the suit, Justice Isa H. Dashen, had perpetually restrained the EFCC from seizing properties belonging to Bliss Multinational Perfections Limited and Bribena, saying they are not proceeds of crime.
Also, Justice Dashen declared the seizure and sealing of properties belonging to Bliss Multinational Perfections Limited and Bribena by the EFCC as unlawful.
The judge described the instructions given to Bribena’s bankers by the EFCC to place a post-no-debt lien or freeze his accounts as unlawful.
The EFCC was also perpetually restrained from “inviting, harassing, arresting, detaining, threatening to arrest, or detaining the Plaintiffs as a result of the civil dispute between Baraza Multipurpose Cooperative Society Limited and its members, or on matters arising from the registered business objects of the co-operative society”.
The sum of N10,000,000 was awarded as exemplary damages against the EFCC for the unlawful seizure and attachment of properties belonging to Bliss Multinational and Bribena.
News
Reps Quiz Federal Polytechnics Damaturu, Mubi, Monguno Over Infractions
By Gloria Ikibah
News
Obasanjo narrates how he escaped becoming drug addict
Former President Olusegun Obasanjo has revealed how he almost became a drug addict.
He spoke in Abeokuta over the weekend at the second edition of ‘Fly Above The High’ anti-drug campaign conference organised by the Recovery Advocacy Network.
Obasanjo stated that smoking during his youthful age led to chronic coughing and almost became an addiction.
The former President, while lamenting the increase in drug abuse among Nigerians and other West Africans, urged Nigerian students and young people to refrain from abusing psychoactive drugs, saying that they ruin life rather than enhance it.
“If I had persisted, I could have become addicted. Once you get involved, it is difficult to get out.
“There’s nothing drug can do for you except destruction.
“We found out that West Africa has equally been a centre for drug consumption in a very bad way. That was more than 10 years ago, so the situation has since gone worse. And whatever applies to West Africa applies to all other parts of Africa,” Obasanjo said.
He cautioned against stigmatization and urged individuals who are already addicted to psychoactive drugs to get help.
News
We saved $20bn after Petrol Subsidy Removal and FX Rate Reforms, Says Finance Minister
Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria has saved $20 billion from petrol subsidy removal and market-based pricing of the foreign exchange rate.
Edun spoke at a ceremony recently held to mark the first 100 days in office of Esther Walso-Jack, head of civil service of the federation, in Abuja.
“An amount of five per cent of GDP is what those two subsidies were costing when there was a subsidy on PMS; when there was petroleum product generally for a long time and when there was a subsidy of foreign exchange. Between them, they were costing five percent of GDP,” he said.
“If you say GDP was on average, let’s say $400 billion. We all know what five percent of that is – $20 billion of funds that could be going into infrastructure, health, social services, education.”
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