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What’s Lemo’s Role In Union Bank’s ‘Fraudulent’ Acquisition?

By
James Orji
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By Bayo Bernard, Business Editor

The summon issued against Tunde Lemo, the Chairman of Titan Trust Bank by the Central Bank Investigator, Jim Obazee has thrown up issues over his alleged role in the acquisition of Union Bank of Nigeria Plc.

The Special Investigator has summoned Lemo, a former Deputy Governor of the CBN, to explain his connection in the controversial sale of UBN Plc to Titan Trust Bank which he now heads.

In a letter dated December 24, 2023, and signed by the Head of Operations, Office of the Special Investigator, DCP Eloho Okpoziakpo, the TTB Chairman was directed to report, alongside other top officials of the bank at the Department of Force Intelligence opposite the Force headquarters, Shehu Shagari Way, Abuja on Thursday (tomorrow).

Apart from Lemo those who will be grilled by the police are Cornelius Vink and Rahul Savara.

The acquisition has been described as fraudulent by the Investigator in a report he submitted to President Bola Ahmed Tinubu, following his investigation of the CBN under embattled former Governor, Godwin Emefiele.

Lemo, a former CBN Deputy Governor has been fingered in the alleged fraudulent acquisition of UBN Plc, serving as one of the proxies of Emefiele. He has denied the allegation.

The TTB Chairman served as the Deputy Governor of Nigeria’s apex bank from 2004 to 2014 before he retired.

He once served as the Managing Director/ chief executive of Wema Bank Plc.

Nothing was heard of him after retirement until December 12, 2018, following the establishment of TTB.

His image was further bolstered three years after, on December 18, following a Share Sale and Purchase Agreement, SPA, deal signed by TTB with Atlas Mara Limited, Union Global Partners Limited, Emeka Emuwa, Standard Chartered Bank, Montane Partners West Africa Limited, among others, for the acquisition of UBN Plc.

Speaking on the acquisition two years ago, Lemo described the deal as a key step to propelling TTB to the top of Nigeria’s financial sector.

He said, “The deal represents a unique opportunity to combine Union Bank’s longstanding and leading banking franchise with TTB’s innovation-led model, which promises to enhance the product and service offering for our combined valued customers.”

But not a few key players in the financial sector had wondered how TTB, barely three years old at the time could have acquired one of Nigeria’s longest financial behemoths within a short period of its existence.

Apart from this, many had also wondered how UBN Plc could be sold to TTB for a paltry N191 billion considering the vast assets owned by the old-generation bank, apart from the large customer base, and its branch network across the country.

Key players in the sector had picked holes in the deal pointing at these salient issues, but the CBN regulator said the acquisition was carried out with utmost due diligence.

While also responding to an alleged fraudulent acquisition three days ago, TTB in a statement said the deal was solid, and that Lemo and others involved in the deal are people of integrity with international repute.

TTB said it has provided the Special Investigator with the ownership structure of the bank, saying there is nothing to hide.

The bank said, “There is no illegality or fraud in the acquisition as alleged. We insist that this acquisition can vie for one of the most professional and transparent in the history of this country.

“These individuals are prominent global entrepreneurs and have thriving businesses in Nigeria and several countries around the world. The shareholding structure is also verifiable at the Corporate Affairs Commission (CAC).

“Therefore, we urge our customers, shareholders, and stakeholders to remain calm as we do everything legal to ensure that the current misunderstanding is clarified,” the bank said.

On July 30, President Tinubu appointed Obazee, a former chief executive of the Financial Reporting Council of Nigeria, FRC, to probe the Emefiele-led CBN following his suspension by the president the same month.

The probe panel recently submitted a damning report indicting the former CBN governor and other top officials of the regulator.

Apart from the alleged financial malfeasance said to have been committed by Emefiele and other CBN officials, the report said the sales of UBN Plc and other banks should be looked into.

The banks must be recovered from the acquisitors, the report also said.

The report said, ‘’When we carried out investigation, we discovered that some persons were used as proxies by Mr Godwin Emefiele to set up Titan Trust Bank and acquire Union Bank therefrom, all from ill-gotten wealth.

‘’We were able to secure some documents and investigation reports will lead to the forfeiture of the two banks to the Federal Government. We have completed our investigation on this acquisition and have also held meetings with the relevant parties except for Mr Cornelis Vink (that is currently hospitalised in Switzerland).

‘’Otherwise, we are on the verge of recovering these two banks for the Federal Government,’’ Obazee claimed in his letter.

Emefiele who was released on N300 million bail last Saturday, is currently being prosecuted by the Economic and Financial Crimes Commission, EFFC, for an alleged procurement fraud to the tune of over N6 billion, and other sundry charges bordering on the alleged abuse of office while he presided over the state-controlled bank.

According to the report submitted by Obazee to the president on December 20, the investigator said the former CBN governor, used “ill-gotten wealth” to establish TTB, which he used as a vehicle to acquire Union Bank and Keystone Bank through some of his proxies.

Ondo State Governor Oluwarotimi Akeredolu, Is Dead

By
Akinwale Kasali
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Rotimi Akeredolu

By Ayodele Oni & Akinwale Kasali

Unofficial  reports early Wednesday indicate that Ondo State Governor Oluwarotimi Akeredolu is dead.

Although his death has not been officially announced by family members, but a senior official of the Ondo State Government, confirmed this on Wednesday.

The Governor commenced a medical leave for the second time on the 18th of December, after an intervention  by President Bola Tinubu, on the need to hand over power to his Deputy, Lucky Aiyedatiwa.

Mr Akeredolu is reported to have suffered from the cancer of the blood, known as leukaemia, which continued to deteriorate despite intensive medical care outside the country.

The medical issue, it was gathered, was complicated by prostrate cancer.

It was reliably gathered that Mr Akeredolu, a Senior Advocate of Nigeria, (SAN) reportedly died at a location in Lagos following the inability to return him to Germany where he was receiving treatment because of the risk associated with flying.

Reports said the Governor’s deteriorating health in the last few days, compelled President Bola Tinubu to approve transmission of power to the Aiyedatiwa.

He was said to have collapsed twice at his Ibadan residence, which compelled his son, Babajide, to request for an air ambulance from the President to return him to Germany.

Akeredolu left Ondo State capital since April when he first travelled out and upon his return in September, he was restricted to his Oyo state capital residence from where his doctors were attending to him.

Up till the time of filing the report family members and the Governor’s Aides have refused to pick their calls to confirm the Governor’s health status.

Akeredolu was Chairman, Southern Governors Forum and a critic of the Federal Government despite belonging to the same political party, the All Progressives Congress (APC).

He was harsh on ceding more powers to states, arming states’ owned security personnel and other topical issues.

Anambra: Pa Soludo Was A Unifier, Will Be Missed- Miyetti Allah

By
James Orji
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Miyetti Allah Cattle Breeders Association of Nigeria, MACBAN, has described the death of Pa Soludo as a great loss.

The South East branch of the Association disclosed this yesterday in a statement.

The Cattle breeders association in their tribute to the late Soludo described him as someone who left an imprint in the sand of time.

Pa Soludo, the father of Governor Soludo of Anambra state, died on November 6 at the age of 92.

According to a statement made available to journalists in Awka, the state’s capital on Tuesday, MACBAN Deputy National Director, Alhaji Gidado Siddikki, said the deceased was a great promoter of peace during his lifetime.

He spent his lifetime unifying people of various religions, tribe and ethnic, the group said.

Miyetti Allah said, “Pa Simon Soludo was an exemplary leader who will be greatly missed by many.

“He was a very kind, Social and accommodating person to the core by some of us who knew him.

“The late deceased had set standards for the great Kingdom of Isuofia land.

“On behalf of MACBAN South East region, while we commiserate with Governor Soludo and his siblings over the unfortunate incident, we pray to Allah to give the governor’s family the fortune to bear the irreplaceable loss.

“The news of the passing of Pa Simon Soludo was received with sadness by the entire Fulani community in the State and will be greatly missed.”

Tribune Online had earlier reported that Pa Soludo passed on Monday November 6th 2023 at the age of 92 and was laid to rest at his country home, Isuofia community in Aguata Local Government Area of the State, on Saturday, December 23th, 2023

Nigeria’s Ex-House Of Reps Speaker, Na’Abbah, is Dead

By
James Orji
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Former Speaker, Ghali Umar Na'Abba,

Ghali Umar Na’Abba, a former Speaker of the House of Representatives, is dead. The former Speaker of Nigeria’s lower chamber of the National Assembly died on Wednesday, according to family sources who spoke with journalists.

Na’Abba died at the age of 65.

The sources did say whether the former lawmaker died of sickness, but Na’Abba has been battling with undisclosed ailment for year before he finally gave up the ghost early this morning.

In May 2020, the former Speaker was rumoured to have died. He later denied the rumour, saying such rumour was the work of his enemies.

He said the: “Fellow Nigerians; I am Ghali Na’Abba, Speaker of the National Assembly from 1999 to 2003. I have been hearing rumours in recent days that I was dead.

“I am doing this video in order to prove to Nigerians and the world that I am alive, hale and hearty.

“I am a proud Nigerian and saddened that rumours spread about me in such an evil manner.

“However, this is not a time to reprimand anybody, I have been a friend to the press and I believe we should do whatever it is to ensure that we live well among ourselves.

“I am alive and healthy in London, I am here in the past four weeks and finished my engagements, if not for the lack of flight, I will have flown back to Nigeria.

“I am missing home and sad about what is going on in my country; about the COVID-19 pandemic, poverty and deaths ravaging my community in Kano.

“A lot of people have died recently in Kano including some of my relations and let me seize this opportunity to condole every family that lost their love ones,” he said.

The demised politician was born on September 27, 1958.

Tinubu Gives 5,000 Persons N20,000 Grant

By
Akinwale Kasali
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By Akinwale Kasali

The Federal Government  has given 5,000 Persons with disabilities the sum of N20,000 Grant in Cross River State.

The Vulnerable PWDs received N20,000 grants each from the Ministry of Humanitarian Affairs and Poverty Alleviation.

Beta Edu, Minister of Humanitarian Affairs and Poverty Alleviation said the one-off grant was part of President Bola Tinubu’s determination to lift vulnerable Nigerians out of poverty across the country.

“Here in Cross River, we are flagging off the grant for vulnerable groups in Cross River. So far, we’ve been able to reach 5,000 very poor and vulnerable persons at the grassroots in this state with plans to expand in the coming year.

“We have checked and confirmed that these people are very poor and they deserve to benefit from the scheme in line with President Tinubu’s commitment to lifting millions of Nigerians out of poverty in 2024 through the various social protection programmes,” the minister said in a statement.

The event which was held at the Millennium Park in Calabar, Cross River State saw beneficiaries savouring the moment with smiles on their faces.

Edu urged the beneficiaries to invest the grants into profitable economic ventures.

“These monies are not given to you for you to spend on drinks or do whatever that is out of place, but to start a petty trade or boost your petty trade and make better profits to sustain your families.

“These monies can be used to start up little businesses. You can use these grants to boost your trade, and that will help with sustainability. These grants are deliberate acts by the federal government to pull people out of poverty,” she added.

She assured all that qualified Cross River people will be beneficiaries of the Federal Government’s social intervention programmes being implemented through her ministry and agencies within the sector.

Cross River State Governor, Senator Bassey Otu, who presented  dummy cheques to beneficiaries, commended Tinubu for championing the cause of the poor and prioritising the welfare of the citizens.

The Governor, who said the State under his watch had been pushing a people-first government, implored the beneficiaries to put the grants into proper use.

“On behalf of the people of Cross River State, I want to extend my heartfelt gratitude to His Excellency, the President of this great nation, Asiwaju Bola Ahmed Tinubu, for truly making a difference in people’s lives daily and championing this cause of prioritizing the welfare of our citizens, it is easy to know a transparent government that means well for its people,” he said.

Inmates Scale Wall At Ogun Correctional Center, Escape

By
Akinwale Kasali
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By Akinwale Kasali

Three Inmates escaped from Ijebu Ode Correctional Center in Ijebu Ode Local Government Area, Ogun by scaling the wall of the facility during a jail break.

The Public Relations Officer of the  Correctional Service, Ogun State Command, Victor Oyeleke on Tuesday, confirmed the jailbreak, and disclosed that the incident happened early Saturday morning around 3 am.

He said, “Yes, it is confirmed, it happened in the early hours of Saturday morning around 3 am. A search party to bring the three of them back has been raised. We have their biometrics and we have contacts of their families.

“ We are working together with other sister agencies and in good time they will be brought back”.

The statement reads “The report reaching us now is that three prisoners escaped from the Ijebu-Ode Correctional Center whose names are, Hammed Adeboyejo who was convicted of Murder/Armed Robbery; Fatai Taiwo Akande from Ijebu-Igbo was sentenced on Murder Casez while the third man, Oguntona Aliu was convicted of Sexual Offence, should in case you see any of them, quickly contact the office of So-Safe Corps Command closer to you, The Nigerian Police and any other Security Agency.”

Governor Muftwang Says Terrorists Have Been Occupying Schools In Barkin Ladi For Over Five Years

By
Akinwale Kasali
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Caleb Mutfwang - Plateau state Governor

By Akinwale Kasali

Governor Caleb Muftwang of Plateau State has lamented the menace of Terrorists in the State who have been wreaking havoc, killing, maiming and destroying properties.

Muftwang disclosed on Channels Television’s Sunrise Daily that the Terrorists have been occupying schools in the Barkin-Ladi Local Government Area of the state for five years.

The governor expressed disappointment over the incident, saying there is “lack of political will” by the Federal Government to  dislodge terrorists on the Plateau.

According to Muftwang, the crisis on the Plateau has continued to escalate because no arrest has been made so far by security agents.

Mutfwang described the Christmas Eve simultaneous attacks by assailants on over 15 communities in the Bokkos and Barkin-Ladi Local Government Areas of the state as unfortunate.

According to reports, the latest attacks have so far claimed over 300 lives with scores of others injured and hundreds of houses torched.

“We must stop this carnage,” the governor said matter-of-factly, adding that security agents “cannot continue with this reactionary strategy but be proactive.

“As I am talking to you today, in Barkin-Ladi Local Government, schools have been occupied by these terrorists for some years now. Not less than 64 communities have been displaced and the lands have been taken over by these marauding terrorists,” he added.

The Governor noted that he would approach President Bola Tinubu to give clear instructions to security agents to protect the people on the Plateau against their land-grabbing attackers.

He said, “I will be talking to Mr President on this. We need to summon the political will to give instructions to security agencies to protect the territorial integrity of Nigeria and even the internal integrity of our land boundaries.

“There are ways of acquiring lands, not through violence and we must be able to resort to constitutionalism in dealing with these issues.

“People who want land on the Plateau are free to approach the communities, negotiate and settle in those communities.

“I don’t think people will refuse but where they resort to violence to take over those lands, you will be sure that this is a time bomb because it will reach a time when people react, and we are going to have a large-scale conflict. I pray we don’t get to that point.”

Mutfwang lamented that part of the problem on the Plateau is because no arrest or prosecution had been made in connection with the dastard attacks over the years.

He said, “Part of the problem we have is that so far, there have been no arrests, no prosecution, and as far as we do not confront this issue headline, some people feel their attackers are being protected.

“Under the last regime, the feeling of the people in Plateau State, particularly the victims of these terrorist attacks, is that, it looks as if the terrorists were given official government backing to be able to terrorise them because little or nothing was done to repel these attacks.

“I can tell you, that these schools that are being occupied didn’t start now; some of those schools have been occupied for the last three to five years. Children in those schools have had to relocate, and primary healthcare centres have been abandoned.”

Plateau: CAN Condemns Horrifying Killings

By
Akinwale Kasali
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By Akinwale Kasali

The Archbishop Daniel Okoh led Christian Association of Nigeria, CAN, has condemned the killings and violence in Plateau State that led to the killings of over 300 people.

CAN expressed its heartfelt condolences to the families of the deceased and the Plateau State Government, saying that violence must not be allowed to prevail.

The horrifying incidents, which took place in the villages of Ruku, Hurum, Darwat, Mai Yanga Sabo, NTV, and Lisham Kwahasnat community in Wase LGA, led to the loss of numerous lives and the destruction of properties worth millions of Naira.

In a statement on Tuesday, Archbishop Okoh,  condemned the killings and urged citizens to shun all forms of violence.

He said, “Violence has no place in our society; it’s a direct assault on our shared values of peace, unity, and mutual respect and must not be allowed to prevail.

“The burning down of houses, worship centres, and the destruction of properties is not only a criminal act but also undermines our collective peace and unity.”

The CAN President expressed solidarity with the families, friends, and communities who tragically lost their loved ones.

“We mourn with you at this time of grief, and our prayers go out to you for comfort and strength,” he said, specifically mentioning the loss of brethren in the Baptist Church in Chirang village.

The national leadership of CAN commended the swift intervention of the military and the deployment of a joint police and military task force to restore peace and prevent further lawlessness in the affected communities.

Okoh also lauded the efforts of State Governor Caleb Mutfwang in calling for peace and unity amid such adversity.

The CAN urged security agencies to intensify their efforts in intelligence gathering and proactive interventions to pre-empt and forestall these type of dastardly acts in the future.

“Our people deserve to live in peace, and it is high time we moved from reactive to preventive measures,” Okoh emphasised.

Despite these tragic incidents, CAN reiterated its belief in the unity and strength of the nation.

“We acknowledge the resilience of the people of Plateau State and the nation at large. We must reinforce this unity and resilience in the face of such adversity,” Okoh said.

In this season of love and giving, CAN encouraged everyone to remember the victims and their families, not only in prayers but also by reaching out with relief materials.

“ Let us extend our empathy and support and commit to building a peaceful and prosperous Plateau State and Nigeria as a whole,” Okoh advocated.

Okoh also prayed for peace in the hearts and homes of Nigerians, saying, “May the peace of the season dwell in our hearts and homes, and may God bless Plateau State and our dear nation, Nigeria.”

Plateau Killings: How 300+ Were Massacred, Tinubu Orders Security To Move In As Police Confirms Casualties

By
Ayodele Oni
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By Ayodele Oni

President Bola Tinubu has directed security agencies to immediately move in, scour every stretch of the zone, and apprehend the culprits linked to a mass killing in Plateau state.

The Christmas Eve attacks in Bokkos and Barkin-Ladi Local Government Areas of Plateau State,  resulted in the tragic loss of many lives, estimated at over 300.

President Tinubu, who gave the directive on Tuesday, while condemning the genocide in very strong terms, also directed the immediate mobilization of relief resources for surviving victims of what he described as “primitive and cruel attacks” as well as medical treatment for the wounded.

While condoling with the government and the people of Plateau State, Tinubu assured Nigerians that the envoys of death, pain, and sorrow would not escape justice.

Meanwhile, Plateau state Police command has disclosed that 96 persons were confirmed dead and over 200 houses destroyed by the assailants. Also destroyed were eight vehicles and 27 motorcycles. However, unofficial reports put it at over 300 deaths.

Police spokesman in the state, DSP Alfred Alabo,  who  stated this on Tuesday in Jos, said “On Dec. 24, at about 10 p.m., gunmen attacked 15 villages in Bokkos and Barkin-Ladi Local Government Areas simultaneously.

“Findings from the assessment of the incident in Bokkos revealed that the 12 villages were attacked; more than 79 persons killed and 221 houses were set ablaze. Twenty-seven motorcycles and eight vehicles were equally burnt down.

“Three communities were attacked in Barkin-Ladi where 17 persons were killed.

“Investigation and monitoring are still on and further development will be communicated soon.”

He listed communities attacked in Bokkos Local Government Area as Ndun, Ngyong, Murfet, Makundary, Tamiso, Chiang, Tahore, Gawarba, Dares, Meyenga, Darwat and Butura Kampani.

Alabo stated also that communities attacked in Barkin-Ladi Local Government Area were NTV, Hurum and Darawat.

Obi: Security Forces Are Protectors, Guardians Of Our Freedom

By
James Orji
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Peter Obi in Gombe
Peter Obi, the presidential candidate of the Labour Party, LP, in the 2023 general election, Peter Obi, has paid glowing tributes to security forces, particularly those who paid the supreme price while on duty.
Obi praised the nation’s gallant security operatives who recently lost their lives in Plateau state. Over 70 security men were believed to have lost their lives during terrorists attacks on the state.
In his Christmas message to Nigerians, Obi expressed his condolences to the families of the fallen heroes, adding that security agencies are ” the guardians and protectors of our freedom as a people.”
He said those who give up their lives must be assured that their heroic duty would not be forgotten.
Obi said, “The men and women of our armed and security services come to mind. The soldiers in various battlefronts of insecurity, the policemen and women in patrol in our cities and highways, the Civil Defense Corps, and Department of State Security operatives.
“These illustrious citizens are often lost in our thoughts and prayers both as leaders and fellow citizens yet they remain the guardians and protectors of our freedom as a people.
“I am thinking of those who in the call of duty have to spend this festive season away from the comfort of home and the embrace of loved ones. I am referring to those who face the risk of the supreme sacrifice to protect and defend the freedom of our dear nation and the liberties that come with our democracy.
“Let us spare them our thoughts and prayers this season. Let them be reassured that their labors are appreciated by a grateful nation.”
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