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Money Laundering: Maina Files a No Case Submission
The former chairperson of the Defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina, has made a no-case submission before a Federal High Court in Abuja.
The former chairperson, through his legal counsel on Wednesday, told the court that he has no case to answer regarding the charges brought against him by the Economic & Financial Crimes Commission (EFCC).
Mr Maina’s legal counsel filed this application shortly after the prosecution witness from the EFCC, Rouqqayah Ibrahim, an investigative officer, concluded her testimony.
After the cross-examination of the witness, the defense counsel told the court that it would like to apply for a no case submission.
The trial Judge, Okon Abang, adjourned the case until Friday, December 10, for the defense counsel to address the court, orally and for the prosecution counsel to respond to the no case submission.
BANK TRANSFERS & DEPOSITS
A transaction from November 19, 2008 indicates a draft transfer to Adbsulrasheed Maina in the sum of N4,489,969.24.
A transaction done on December 15, 2008, also indicates a credit transfer into the account by Customs Immigrations and Prisons (CEPO) for N447,359.52.
Furthermore, the transaction of December 14, 2011 shows a transfer in favor of Nafisatu Yeldu for the sum of N4.8 million.
A transaction dated for December 19, 2011, also indicates a credit into the account from the office of head of service for N4,701,428.
The transaction of January 26, 2012 shows a transfer into the said account from CEPO, Stat ‘n’ Computer for N1,216,000.
The transaction of July 1, 2013 shows a transfer from Abdullahi Faisal for N1 million.
The transaction of May 2, 2014 is a transfer from Abdullahi Faisal for N34 million and on that same day N33.8 million was transferred to West Waves BDC and the dollar equivalent was handed over to Abdulrasheed Maina. Then on May 6, 2014, there was the same transfer to Maina for N47.5 million into the same account.
The transaction of October 3, 2014 shows a transfer from Abdullahi Faisal for N55,000,000 and on the same date N16,121,310 was transferred to Alnasara BDC. Also, on the same date, another transfer of N15,870,690 to Jieko BDC (Bureau De Change) was made.
Miss Ibrahim added that transactions of Cluster Logistics were all carried out by Abdulrasheed Maina under the alias of Abubakar Mustapha as well as other bank transactions which appear as Nafisatu Aliu, Fatima Abdullahi, and Fatima Aliu.
In conclusion of her testimony, she said that the driver’s licenses used to open Mrs Fatima Sama’ila account with UBA for Common Input were not authentic as per the response of FRSC contained in Exhibit E1A. Just like the one used in opening Drew Constructions with Fidelity Bank by Fatima Aliu is also not authentic.
The former chairperson is facing 12 counts of money laundering charges brought against him by the EFCC and has pleaded not guilty to the charges.
Premium Times
All Progressives Congress (APC) governorship aspirant in Lagos State, Samuel Ajose, has declared that the endorsement of Deputy Governor Obafemi Hamzat as the next governor by Governor Babajide Sanwo-Olu and the Governance Advisory Council (GAC) will not stand.
GAC, regarded as the highest decision-making body of the All Progressives Congress in Lagos State, endorsed Hamzat, as its consensus candidate for the 2027 governorship election.
The decision was reached during a closed-door meeting held at Lagos House, Marina, indicating an early alignment within the ruling party ahead of the next electoral cycle.
Speaking after the session, GAC leader, Tajudeen Olusi, said members unanimously agreed on Hamzat, expressing confidence in his ability to sustain and build on the state’s developmental progress.
Olusi explained that the meeting was convened to deliberate on the party’s forthcoming primaries and assess the governorship position ahead of the 2027 elections.
Speaking about the GAC adoption of Hamzat as Lagos APC consensus 2027 governorship candidate on Arise News on Tuesday, Ajose said that Sanwo-Olu and others are trying to force President Tinubu into making a decision.
“I don’t think our president, Asiwaju Bola Ahmed Tinubu, is giving in to what they are doing.
“What they are just trying to do is to coerce him into taking a decision, and I don’t think that decision will stand.”
The House of Representatives has approved President Bola Tinubu’s request to borrow Five Hundred and Sixteen Million, Three Hundred and Thirty-three Thousand, seven ($516,333,007) US dollars in syndicated financing from Deutsche Bank AG.
The House approved it during the plenary on Tuesday in Abuja after the presentation of a report by the deputy chairman of the House Committee on Aids, Loans, and Debts Management, Abdullahi Rasheed.
The money is expected to fund the construction of sections of the Sokoto–Badagry Super Highway.
President Tinubu wrote to the lawmakers, seeking a $516.3 million loan from Deutsche Bank to support the construction of the road.
The president said the loan, to be sourced from a syndicated financing facility by Deutsche Bank, will fund sections 1, 1A, and 1B of the project, which covers about 120 kilometres.
Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.
The project is a flagship initiative of Tinubu’s Renewed Hope Agenda and is targeted at enhancing national connectivity, improving the movement of goods across key economic corridors, and drastically shrinking travel time.
The 1,000-kilometre project will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.
According to him, the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
He said the Federal government will provide counterpart funding of over N265 billion for land acquisition, compensation, and related infrastructure.
The former Lagos governor said the loan is structured for nine years and includes a three-year grace period.
It has an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.
Already, the Federal Executive Council has approved the financing plan.
Operatives of the Economic and Financial Crimes Commission have arrested a former chairman of defunct Skye Bank Plc, Tunde Ayeni, over alleged money laundering, misappropriation and diversion of funds amounting to N36.54bn and $30m.
Ayeni, a businessman, was arrested in Abuja on Thursday, and is currently being held at the commission’s facility.
The arrest followed an EFCC probe into alleged misappropriation and diversion of funds said to have been obtained from Polaris Bank through multiple entities linked to him.
“Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a former board chairman of defunct Skye Bank Plc and businessman, Tunde Ayeni, in connection with alleged money laundering, misappropriation and diversion of funds to the tune of N36,540,058,400.00 and $30m.
“Ayeni was arrested sequel to the investigation of the EFCC into alleged misappropriation and diversion of funds to the tune of N36,540,058,400.00 and $30m obtained from Polaris Bank Plc by different entities linked to him.
“The funds were loans obtained allegedly for specific investment projects but subsequently transferred to other entities’ accounts. Investigations showed that, though the loans were obtained for purposes such as finance of marine security activities, electricity distribution contract, estate development, they were diverted to the NITEL/MTEL asset acquisition through NATCOM account,” one of the sources said.
Another source said the commission is currently probing 12 companies allegedly linked to Ayeni, which it said were used to obtain the loans from Polaris Bank.
“Twelve different companies linked to Ayeni are being investigated by the EFCC. They are entities he allegedly used to obtain loans from Polaris Bank for his shady activities. The loans are depositors’ funds fraudulently obtained and frittered into diverse wasteful purposes. Ayeni will be arraigned in due course upon conclusion of investigations,” the source said.
When contacted, EFCC spokesman Dele Oyewale confirmed the arrest but declined to give further details.
The Punch
