News

CBN investigator summons Tunde Lemo, others over Union Bank deal

Published

5 months ago

December 26, 2023

The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.

The TTB chairman, a former deputy governor of the Central Bank of Nigeria, was directed to report at the Department of Force Intelligence opposite the Force headquarters, Shehu Shagari Way, Abuja on Thursday, where he is expected to be questioned over the UBN acquisition.

Lemo was further instructed to come along with the promoters of TTB, Messrs Cornelius Vink and Mr Rahul Savara, to meet with the team of special Investigators.

Lemo was invited in a letter dated December 24, 2023, and signed by the Head of Operations, Office of the Special Investigator, DCP Eloho Okpoziakpo.

Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.

Obazee, who was appointed special investigator in July, 2023, submitted his final report tagged, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offences) to the Presidency on December 20, 2023.

In two separate reports on the acquisition of UBN and Keystone Bank submitted to President Bola Tinubu last Wednesday, the Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.

‘’When we carried out investigation, we discovered that some persons were used as proxies by Mr Godwin Emefiele to set up Titan Trust Bank and acquire Union Bank therefrom, all from ill-gotten wealth.

‘’We were able to secure some documents and investigation reports will lead to the forfeiture of the two banks to the Federal Government. We have completed our investigation on this acquisition and have also held meetings with the relevant parties except for Mr Cornelis Vink (that is currently hospitalised in Switzerland).

‘’Otherwise, we are on the verge of recovering these two banks for the Federal Government,’’ Obazee claimed in his letter.

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Prince Harry visits sick Nigerian soldiers in Kaduna

Published

3 days ago

May 11, 2024

Alero Danjuma

Prince Harry and his team visited the 44 Nigerian Army Reference Hospital in Kaduna to interact with wounded soldiers who are receiving treatment.

The Duke of Sussex is in Nigeria with his wife to champion the Invictus Games, which Harry founded to aid the rehabilitation of wounded and sick servicemembers and veterans.

Nigeria joined the Invictus Community of Nations in 2022 becoming the first African country to join.

Prince Harry’s visit to Kaduna came 68 years after his late grandmother Queen Elizabeth II visited the state during the time of the late Premier of Northern Region Sir Ahmadu Bello.

News

Senate approves death penalty for drug traffickers

Published

5 days ago

May 9, 2024

Alero Danjuma

Senate on Thursday, May 9, approved the death penalty for those convicted on the charge of drug trafficking in the country.

The punishment prescribed in the extant NDLEA Act is a maximum sentence of life imprisonment.

The resolution of the Senate followed its consideration of a report of the Committees on Judiciary, Human Rights and Legal Matters and Drugs and Narcotics, National Drug Law Enforcement Agency (NDLEA) Act (Amendment) Bill, 2024.

The Chairman of the Committee on Judiciary, Human Rights & Legal Matters presented the report during plenary, Senator Mohammed Monguno (APC-Borno North).

The bill, which passed its third reading, aims to update the list of dangerous drugs, strengthen the operations of the NDLEA, review penalties, and empower the establishment of laboratories.

Section 11 of the current act prescribes that “any person who, without lawful authority; imports, manufactures, produces, processes, plants or grows the drugs popularly known as cocaine, LSD, heroin or any other similar drugs shall be guilty of an offence and liable on conviction to be sentenced to imprisonment for life” was amended to reflect a stiffer penalty of death.

Although the report did not recommend a death penalty for the offence, during consideration, Senator Ali Ndume moved that the life sentence should be upgraded to the death penalty.

During a clause-by-clause consideration of the Bill, Deputy Senate President Barau Jibrin, who presided over the session, put the amendment on the death penalty to a voice vote and ruled that the “ayes” had it.

But Senator Adams Oshiomhole objected to the ruling, saying that the “nays” had it.

He argued that matters of life and death should not be treated hurriedly, but Barau said it was too late, as he failed to call for division immediately after his ruling.

The bill was subsequently read for the third time and passed by the Senate.