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Two bank directors arraigned for $166m fraud

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Two former directors of the defunct Integrated Microfinance Bank Plc. were granted bail on Thursday by a Federal High Court in Lagos over alleged $166m fraud.

The accused persons: Ademola Akinteye (Managing Director) and Gabriel Adepoju, (Director), are facing a 10-count bordering on fraud.

They, however, pleaded not guilty to the charges.

The trial judge, Justice Mojisola Olatoregun, granted them bail in the sum of N10m each with two sureties each in like sum.

The judge also ordered that the two sureties must not be lower than executive directors in a known financial institution.

He also ordered that the sureties must depose to an affidavit of means with evidence of three years tax payment.

The court, however, ordered their remand in custody pending the perfection of their bail terms and fixed June 16 for the substantive trial of the accused.

In the charge marked, FHC/L/234c/16, the accused were alleged to have recklessly and without collateral, approved credit facilities to themselves to the tune of over $166m and N33.3m.

The first accused, Akinteye, was alleged to have at different times withdrawn N11m from the bank’s account and diverted it into a company’s account named, Deblad Nigeria Ltd.

He was also alleged to have unlawfully withdrawn about $166m and remitted same to the account of one Temitope Muhammed.

The second accused, Adepoju, was alleged to have withdrawn N22.3 million and diverted same to a company named, Gad Press Ltd.

According to the prosecutor, A. I. Charles-Okoli, the offences contravened the provisions of Sections 18 (1)(a) and 18(3) of the Banks and other Financial Institution Act Laws of the Federation 2004.

The defence counsel, Mr A. O. Sheriff, had earlier urged the court to dismiss the charges against the two accused.

Sheriff argued that the accused had previously been acquitted by Justice Okon Abang of the same court.

Olatoregun, however, dismissed Sheriff’s objection, stating that the facts of the charges were not the same.

Source: ( NAN)

National News

James Bond actor, Sean Connery dies at 90

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James Bond actor, Sean Connery dies at 90

Scottish actor, Sir Sean Connery, has died at the age of 90.

He was best known for his portrayal of James Bond, being the first to bring the role to the big screen and appearing in seven of the spy thrillers.

He was largely regarded as being the best actor to have played 007 in the long-running franchise, often being named as such in polls. His acting career spanned decades and his many awards including an Oscar, two Bafta awards and three Golden Globes.

Sir Sean’s other films included The Hunt for Red October, Indiana Jones and the Last Crusade and The Rock.

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National News

Gov Ayade Reviews Curfew In Cross River

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Gov Ayade Reviews Curfew In Cross River
Gov Ayade Reviews Curfew In Cross River

Ben Ayade

Governor of Cross River State, Ben Ayade has relaxed the curfew in the state from 4 pm-6 am to 6 am-6 pm.

This was contained in a statement signed by the Governor’s Special Adviser on Media and Publicity, Christain Ita on Saturday.

The new time is scheduled to take effect from Saturday, October 31st.

Also Read: Taraba Govt Sets Up Task Force To Recover Looted Items

Recall that following the hijacking of the peaceful protest against police brutality in the state by hoodlums, the state governor, imposed a 24-hour curfew on the state, on Friday, October 23, 2020.

“The state governor, His Excellency, Sir Ben Ayade has reviewed the curfew imposed on the state and has directed that with effect from Saturday, October 31, 2020, curfew hours will now be between the hours of 6 pm and 6 am daily.

“Restriction of movement is hereby relaxed from 6 am to 6 pm,” the statement added.

 

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El-Rufai Meets Youth Leaders, Condemns Attack On Police Officers

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El-Rufai Meets Youth Leaders, Condemns Attack On Police Officers
El-Rufai Meets Youth Leaders, Condemns Attack On Police Officers

Governor El-rufai

Governor of Kaduna State, Nasir El-rufai has condemned the attack on police officers and police barracks in the State following the outbreak of violence that trailed the #EndSARS protest.

He made this remark when he met with youth leaders from the 23 Local Government Areas of the state on Friday.

At the event, he appealed to them not to engage in any act of violence or looting.

El-Rufai vowed to prosecute those behind the looting and threat of peace in Kaduna South and Chikun Local Government Areas according to the law.

Also Read: Taraba Govt Sets Up Task Force To Recover Looted Items

“You cannot condemn an entire profession because of the misconduct of a few. SARS is just a small unit of the Nigerian Police Force, and even among SARS, they are not all bad,” he said

“Yes, some of them might have been quite bad and killed many people, but that should not be used to frame the police in a manner that people feel justified to attack and kill policemen.

“I have seen a video where a policeman was attacked and burnt to death. For what? That policeman is a human being, creation from God, he has children, and he has a family.

“Who will look after them? The Nigerian Police is the only police we have, it Is our collective duty as citizens, as leaders to come together and help the police to be better.”

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