NEWS
EFCC Raises Eyebrows At Lagos AG’s Influence In Ibeto Fraud Trial
The Economic Financial Crimes Commission (EFCC) has expressed concern about the Lagos State Attorney-General’s plan to handle the N4.8 billion fraud case against Chief Cletus Ibeto, Chairman of Ibeto Energy Development Company.
Rotimi Jacobs (SAN), EFCC’s counsel, raised objections in the Lagos State High Court in Ikeja, alleging that this move could disrupt the trial.
This assertion came after the state’s Director of Public Prosecutions, Jide Martins, mentioned to Justice Ismail Ijelu that the Attorney-General is contemplating taking over the case following a petition from the defendant.
The defendant, along with his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, faced a 10-count charge from the anti-graft agency, involving conspiracy, fraud, forgery, and fraudulent use of documents.
Despite attempts to arraign the defendant on September 28, October 5, and November 3, his absence in court led to three adjournments, despite representation by his legal team.
On November 3, 2023, Justice Ijelu granted the prosecution’s request to issue an arrest order for the businessman, citing his repeated failure to appear for his plea despite assurances from his legal team.
During the resumed hearing on Tuesday, Martins informed the court about a petition from the law firm of Robert Clarke (SAN), requesting a review of the case file and advocating for the Attorney-General’s direct intervention to take over the case.
The Director of Public Prosecutions (DPP) informed the court that while the Ministry of Justice has requested the case file from the EFCC, the Attorney-General has yet to make a decision regarding this matter.
In response, the defense counsel, Uche Obi (SAN), requested an adjournment until the matter concerning legal representation is clarified and resolved.
Obi said, “An issue of legal representation has just arisen in court this morning. The learned DPP has asked for an opportunity to reappraise the complainant’s complaint, and the State has to be given a chance to take that decision. It appears that nothing else can be done today (Tuesday) but to allow for a reasonable time for the State to decide.”
In response, Jacobs highlighted to the judge that the defendant had engaged four different lawyers, seemingly as part of an attempt to disrupt the proceedings of the case.
The senior lawyer stated “This is not a case that the Lagos State Attorney-General can take over because the primary counts of the charge are based on Federal laws.
“Section 211 limits the State AG to the takeover of state’s offences, and this power cannot be extended to Section 174, which is on federal crimes.
“The Attorney-General’s letter to this court was written without hearing from us, and the purpose was to shield the defendant from appearing before this court, and when he is seized of the whole matter, he will change his mind.”
In his ruling, Justice Ijelu acknowledged that the primary court business was the defendants’ arraignment.
The prosecutor informed the court that the bench warrant couldn’t be executed as the defendant was abroad.
Additionally, the defense counsel stated that the defendant was in Dallas, USA, receiving treatment for a severe ailment.
The judge, after considering these submissions, emphasized the need to resolve the representation issue between the prosecutor on record and the Attorney-General, as it had become a significant point requiring resolution.
Justice Ijelu adjourned the case to January 29, 2024, to address and resolve the matters concerning representation and prosecution of the defendant.
NEWS
JUST IN: Senate Approves Tinubu’s ₦1.77trn Loan Request
To address Nigeria’s ₦9.7 trillion budget deficit for the 2024 fiscal year, the Senate has approved President Bola Ahmed Tinubu’s request to secure a ₦1.77 trillion ($2.2 billion) loan.
The decision was made during Thursday’s plenary session, where a voice vote confirmed the approval following the presentation of a report by the Senate Committee on Local and Foreign Debts.
RELATED NEWS: Tinubu Seeks ₦1.767tn Loan to Tackle 2024 Budget Deficit
Chaired by Senator Wammako Magatarkada (APC, Sokoto North), the committee endorsed the loan request as a vital step in managing the country’s fiscal challenges.
Recall that President Tinubu had submitted the proposal earlier in the week, outlining the loan as a crucial component of his administration’s external borrowing strategy.
Details shortly…………..
NEWS
Finnish Police Arrest Simon Ekpa Over Terror-Related Allegations
Simon Ekpa, a Finnish citizen of Nigerian descent, has been arrested by Finnish authorities on allegations of inciting terrorist activities.
The Päijät-Häme District Court ordered his detention following an incident that reportedly occurred in Lahti on August 23, 2021.
READ ALSO: Policeman Feared Dead As Gunmen Attack Checkpoint In Abia
The Finnish National Bureau of Investigation (NBI) is also seeking the arrest of four other individuals in connection with the case. Officials say the charges involve public incitement to commit crimes with terrorist intent.
“The detention demands are related to a preliminary investigation in which a Finnish citizen of Nigerian descent, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent,” the police said in a statement.
Details regarding the additional suspects or the specifics of the alleged crimes remain unclear as the investigation continues. Authorities have emphasized the sensitive nature of the case, stating that further information will be disclosed as the inquiry progresses.
This development marks a significant step in Finland’s efforts to combat terrorism and ensure public safety.
International News
COP29: Climate Summit Faces Deadlock Over Vague Funding Proposals For Vulnerable Nations
As the 29th United Nations Climate Change Summit (COP29) nears its conclusion, tensions are rising over a newly published funding proposal aimed at assisting developing nations in addressing climate-induced crises.
The proposal, released by the United Nations Framework Convention on Climate Change (UNFCCC) on Thursday, has sparked widespread debate among delegations, activists, and observers at the summit.
The document, spanning ten pages, outlines funding options to support developing countries in implementing their Nationally Determined Contributions (NDCs) under the 2015 Paris Agreement.
READ ALSO: Osun Explains N75,000 New Minimum Wage
However, it fails to specify how much wealthier nations are required to contribute annually—a key sticking point that has drawn criticism from the Global South and climate advocates.
Ambiguity in Funding Commitments
Critics argue that the absence of concrete figures undermines the credibility of the proposed framework.
Mohamed Adow, Founder and Director of Power Shift Africa, described the proposal as “a blank piece of paper,” highlighting the lack of clarity on financial commitments.
“This is the ‘finance COP.’ We came here to talk about money. The way you measure money is with numbers. We need a cheque, but all we have right now is a blank piece of paper,” Adow remarked during an interview.
The Global South, led by African delegations, is demanding at least $1.3 trillion annually by the end of the decade to adapt to climate change impacts and transition to sustainable energy systems.
Yet, developed nations have yet to commit to a specific annual figure, raising concerns over the summit’s ability to deliver tangible outcomes.
Key Provisions and Concerns
The new text acknowledges the disproportionate impact of climate change on developing nations and the financial barriers they face, including high costs of capital and limited fiscal space.
READ ALSO: NNPCL Launches Utapate Crude Oil Blend, Eyes Production Expansion In 2025
It proposes the establishment of a New Collective Quantified Goal (NCQG) for climate finance, suggesting a framework of “at least USD [X] trillion annually” from 2025 to 2035.
However, the absence of defined numbers has led to frustration among negotiators.
David Tong, Global Industry Campaign Manager at Oil Change International, emphasized the critical role of finance in achieving meaningful progress.
“Without finance, there is no phase-out [of fossil fuels], no energy transition, no adaptation. The ambitious options are simply missing,” Tong stated during a press briefing.
Rising Frustration from the Global South
Delegates from the Global South have expressed dissatisfaction with what they perceive as weak commitments from developed nations.
Many fear that without concrete financial pledges, the summit’s outcomes may fall short of expectations.
“This summit is about delivering justice to those who suffer most from climate impacts. Wealthy nations must step up and provide the necessary funding,” said an African negotiator, speaking on condition of anonymity.
A Critical Juncture
With less than 48 hours remaining in the summit, the stakes are high. The COP29 negotiations in Baku, dubbed the “finance COP,” are expected to set a precedent for addressing the financial needs of vulnerable nations.
Delegates are calling on world leaders to finalize an ambitious NCQG target and bridge the growing divide between developed and developing nations.