NEWS
Alleged N785m fraud: Court orders arrest of Imo state Deputy Speaker, Iwuanyanwu
Following his alleged involvement in a N785million fraud, the Federal High Court in Abuja issued an arrest warrant for Hon. Amarachi Iwuanyanwu, the deputy speaker of the Imo state House of Assembly, on Friday.
The Economic and Financial Crimes Commission, EFCC, the Nigeria Police, the Department of Statistic Services, the Nigerian Immigration Services, and Interpol were ordered by the court in a ruling delivered by Justice Inyang Ekwo to immediately arrest the lawmaker “anywhere he is sighted in Nigeria or outside Nigeria and produce him before this honorable court or to the EFCC headquarters, Abuja.”
The EFCC filed an ex-parte motion with the court on November 14 through its attorney, Mr. Olanrewaju Adeola, which led to the court ordering Iwuanyawu’s detention.
The EFCC informed the court that it received information that the legislator had since fled the nation and was currently hiding in the United States of America, USA, in the application with the file number FHC/ABJ/CS/2124/2024.
It informed the court that the Respondent declined to show up to answer a petition filed against him and his business, Sun Gold Estate Limited.
The EFCC claims that Hakiz Investment Company Limited entered into a Memorandum of Understanding, or MoU, with Iwuanyawu’s company at some point in 2012 to develop an estate with 14 units of four-bedroom terrace homes and one block of six flats on the petitioner’s land in Mabuchi, Abuja. The petition was signed by the company’s lawyer, Mr. A. A. Malik, SAN, and was addressed to the EFCC’s Chairman.
It informed the court that the terms of the agreement were as follows: Upon Respondent’s completion of the estate, the complainant—who is the landowner—would receive 40% of the building, and Respondent—who is the developer—would receive 60% of the building.
However, the anti-graft agency alleged that its investigations revealed that “upon completion of the estate, the Respondent sold all the buildings and criminally diverted the funds without the knowledge of the Complainant”.
“That the market value of 40% of the buildings is about N785million.
“That investigation is still ongoing and all invitations extended to both Iwuanyanwu and his company proved abortive.
“That a lawyer to the Respondent had on one of the occasions, received a copy of the invitation on his behalf and made promises that he would be available for questioning.
“That there is an intelligence report that the Respondent is in the USA.
“That without the suspect being apprehended or voluntarily coming to state their side of the story, the investigation will be incomplete.
“That in the light of the calculated effort by the suspect to remain evasive, there is need to place the suspect on watch list of the Commission, the police and any other law enforcement”, EFCC averred in an affidavit that was deposed to by one of its officials, Ufuoma Ezire.
According to the EFCC, the court should issue an arrest warrant for the Respondent in the interest of justice.
It used section 35(1)(c) of the 1999 Constitution, as amended, sections 3, 37, and 39(1) of the Administration of Criminal Justice Act, 2015, as well as sections 6, 7, 13, and 41 of the EFCC (Establishment Act), to support the request for an arrest warrant to be issued against the Respondent.
The Commission testified before the court that it has since sent letters outlining its investigation operations to the Corporate Affairs Commission, banks, and other pertinent organizations.
Meanwhile, in his ruling, Justice Ekwo held that there was merit in the ex-parte application and accordingly granted it.
Specifically, the court, made an order: “Issuing a warrant of arrest against Hon. Amarachi Iwuanyanwu.
Justice Ekwo adjourned the matter till February 23 for report.
The Chief Judge of Ekiti State, Hon Justice Oyewole Adeyeye has passed on.
The news of his passing was leaked by a reliable source under the condition of anonymity.
The sad incident, according to the source, happened in Ado Ekiti in the early hours of Tuesday.
His death is being traced to a sickness which came upon him following the injury he sustained when a section of the Ekiti State High Court Complex, Ado Ekiti wall collapsed in July 12, 2023.
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The late Justice Adeyeye was at the office when the building collapse happened and sustained injuries.
While the state and his family were yet to issue statements on his demise, the Ekiti State Chapter of the Association of International Female Lawyers (FIDA) has sent condolences to the family.
The condolences message read: “With deep sorrow in our hearts and in total submission to the will of God, FIDA Ekiti consoles with the family of the Chief Judge of Ekiti State, Hon Justice Oyewole Adeyeye on his call to glory.
“May He find rest with his maker.
“I pray that God grants the family, the Judiciary and the people of Ekiti State, the grace to bear this irreparable loss.
Adieu great one.”
Justice Adeyeye was born 1960 in Araromi Ugbesi in Ekiti East Local Government of Ekiti State and was called to bar in 1986.
He started his career as a State Counsel in the civil service of the then Ondo State before joining the Ekiti State Judiciary Service Commission shortly after the state was created in 1996.
He was promoted to the position of a judge in the state’s high court in 2002 and has served at different occasions in the election petition tribunal.
A Federal High Court in Abuja has dismissed all charges against 76 individuals accused of participating in the nationwide #EndBadGovernance protests.
The ruling came after the Attorney General of the Federation (AGF), Lateef Fagbemi, moved to discontinue the case under orders from President Bola Tinubu.
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Justice Obiora Egwuatu, presiding over the matter, struck out the charges after hearing a motion from the AGF’s representative, Director of Public Prosecution of the Federation (DPPF) Mohammed Abubakar.
Citing Section 174 of the 1999 Constitution, the AGF formally took over the case from the Inspector General of Police, then requested to drop all charges against the defendants, many of whom are minors.
The judge granted the AGF’s application without objection from defense counsel, ordering the immediate release of the accused, who were not present in court.
This decision follows a directive issued on Monday by President Tinubu, instructing the AGF to withdraw charges against the protesters.
More to follow……….
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over alleged monopolistic practices by Dangote Refinery, following a public dispute about fuel pricing in the downstream petroleum sector.
Recall that the refinery, Africa’s largest, recently disclosed its petrol pricing at N990 per litre in trucks and N960 per litre into ships, a move it justifies as being in line with international rates.
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PETROAN, however, sees this as an attempt to suppress competitors and dominate the Nigerian market.
The rift began when Dangote Refinery claimed that complaints from marketers regarding its pricing were fueled by intentions to import cheaper, potentially substandard products.
In response, PETROAN strongly rejected these allegations, suggesting that Dangote’s claims are tactics designed to maintain a monopoly in the sector.
Joseph Obele, PETROAN’s spokesperson, stated that the association remains committed to importing high-quality products at more competitive rates to ensure affordability for Nigerian consumers.
According to PETROAN, competition in the market is essential for achieving fair pricing, and any attempt to stifle it would be detrimental to consumers.
They argue that Dangote Refinery’s pricing should reflect production costs and fair margins rather than international benchmarks, especially given concessions granted by the government for the refinery’s establishment.
PETROAN also announced its plans to partner with foreign refineries and financial backers to import premium-quality petroleum products at prices below current rates.
The association aims to enter the market by December 2024, pending necessary regulatory approvals.
“The allegations that PETROAN will import substandard products are unfounded and aimed at creating an unfair playing field,” the statement read.
PETROAN warned that similar claims in the past had led to significant price hikes when competitors were pushed out, emphasizing that the entry of new players into the market would lead to more competitive pricing and ultimately benefit Nigerian consumers.
PETROAN expressed appreciation for President Bola Tinubu’s commitment to revitalizing Nigeria’s state-owned refineries and urged the government to consider privatizing the Port Harcourt and Warri refineries once rehabilitation is complete.
The association believes a transparent privatization process will help strengthen Nigeria’s downstream sector and counter monopolistic tendencies.
To address the ongoing pricing challenges in the sector, PETROAN called on the government to convene a comprehensive meeting of industry stakeholders, including major associations like IPMAN, DAPPMAN, MEMAN, NUPENG, and PENGASSAN.
PETROAN believes that collaboration among these groups will be instrumental in establishing a sustainable and competitive pricing framework for petroleum products in Nigeria.
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