NEWS
Emefiele: EFCC’s Forex Probe Expands, 20 Banks Targeted
The Economic and Financial Crimes Commission (EFCC) is planning to expand its investigation into the use of foreign exchange by various companies and financial institutions linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Sources close to the Commission revealed that the ongoing probe, which previously targeted corporate offices like Dangote Group, is set to widen its scope to encompass approximately 20 commercial banks alongside some merchant banks.
This extended investigation is expected to cover a span of nine years and will scrutinize the financial activities of these banks, merchant banks, and other implicated companies.
A source noted, “I cannot say how the media got the figure of 52 companies, but they are quite a number. This is a general investigation on the use of foreign exchange in nearly the past nine years and it is not an isolated case targeted at a particular company.
“A whole lot of issues are being looked and the issue of forex is ringing bell because of its implication for the national economy.”
Additionally, the EFCC is reportedly examining the allocation of foreign exchange to acquaintances and associates of Emefiele during his tenure as CBN governor.
Another source disclosed that Emefiele was handed over to the EFCC by the Department of State Services (DSS) in October.
Since then, extensive investigations into his actions during his leadership at the CBN have been ongoing. The current investigation encompasses scrutinizing the roles played by banks, financial institutions, and major forex users during that period.
According to a source familiar with the situation, the limited information released thus far is due to the EFCC’s caution in avoiding any perception of conducting a trial through the media.
The source further stated that the commission is meticulously reviewing all pertinent documents to ensure thorough and conclusive deductions are made before disclosing further details.
A source close to the Commission said, “what is happening is a general investigation into forex allocations under Emefiele. It is not intended to embarrass any corporation or agency,”
NEWS
Tragic Building Collapse In R/State Leaves One Dead, Several Injured
A tragic building collapse in Rivers State has left a middle-aged contractor, identified as Udeme, feared dead after a two-storey structure under construction caved in at the Egbelu Mgbaraja area of Ogbogoro Community, Obio/Akpor Local Government Area.
This incident comes just one week after a three-storey building collapsed at the Iriebe axis of the same local government, though that incident fortunately recorded no casualties.
READ MORE: Fire Ravages Ajah Market In Lagos, Goods Worth Millions Lost
The latest collapse occurred on Monday, November 4, 2024, around 2 p.m., with construction workers on site when the structure gave way.
According to eyewitness Mr. Jonathan Obey, the building’s second floor suddenly buckled, trapping Udeme beneath the rubble, while another worker managed to escape with serious injuries.
Obey, who attempted to rescue the trapped contractor, suspected negligence, saying, “We couldn’t reach him despite our efforts. An inspection revealed substandard materials had been used, with the foundation only three feet deep for a two-storey building, which is insufficient. The rebar was of poor quality, and essential supports, such as a center beam, were absent.”
The Rivers State Government has since sealed off the property and declared the developer, Vincent Nwoye, wanted for questioning.
Rt. Hon. Evans Bipi, Commissioner for Physical Planning and Urban Development, visited the site and expressed his dismay, attributing the collapse to gross negligence.
“This tragedy was preventable,” Bipi stated. “The developer failed to obtain an approved building plan and used inferior materials. The government will ensure accountability and take severe action.”
Bipi extended his condolences to the victim’s family and the Ogbogoro Community, affirming that the government will facilitate the family’s recovery of their loved one’s remains. “We sympathize with the bereaved family and the entire community,” he added.
The Commissioner for Special Duties, Dr. Samuel Anya, also condemned the developer’s actions, highlighting the dangers posed when profit is prioritized over safety. “This loss is a direct consequence of unethical practices,” he said.
The government has committed to a thorough investigation and tighter regulatory enforcement to prevent further tragedies in Rivers State.
NEWS
JUST IN: Justice Adeyeye, Ekiti State’s CJ Passes On
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.
ALSO READ: #EndBadGovernance Protests: Tinubu Orders Release Of Detained Minors
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.
NEWS
BREAKING: Court Drops Charges Against 76 #EndBadGovernance Protesters
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……….