Abubakar Sambo, the director of Finance and Account of the Rural Electrification Agency, was on Monday re-arraigned by the Independent Corrupt Practices and Other Related Offences Commission, ICPC, for alleged N1.84 billion fraud.

He was arraigned before Justice Musa Liman of a Federal High Court on three counts of alleged diversion of funds to personal accounts.

His lawyer, Y. D. Dangana, SAN, prayed the court to allow Sambo to continue to enjoy bail terms as earlier granted by a sister court and ICPC’s counsel, Osuobeni Akponimisingha, did not oppose the application.

Justice Liman, therefore, admitted the defendant to the earlier bail conditions granted by Justice Bolaji Olajuwon.

The judge adjourned the matter until April 2 for commencement for trial.

The News Agency of Nigeria reports that Justice Olajuwon of a FHC in Abuja had, on June 24, 2024, granted Sambo a bail in the sum of N200 million with two sureties in the like sum.

The judge held that the sureties must have landed property within the jurisdiction of the court with original certificates of occupancy (CofO) which must be deposited with the deputy chief registrar of the court.

She equally ordered the sureties to provide affidavits of their tax clearance in the last three years with a one passport photograph each.

Justice Olajuwon adjourned the matter until October 17 for trial commencement.

However, the judge was transferred to another division of the court, making the case to start denovo (afresh).

NAN reports that the anti-corruption commission had, in the charge marked: FHC/ABJ/CR/209/2024, sued Abubakar Abdullahi Sambo as sole defendant.

In the charge dated May 8, 2024, but filed May 10, 2024 by Akponimisingha, an Assistant Chief Legal Officer in the commission, the ICPC alleged that Sambo sometime in March 2023 or thereabout while being the Payment Finalizer on the Government integrated Financial Management Information System (GIFMIS) platform of REA did finalise the payment of the totai sum of N1.84 billion (N1,835,000,000.00).

It alleged that the funds were done in different tranches for the use of Henrrientta Onomen Okojie, Asuni Adejoke Aminat, Usman Kwakwa, Laure Shehu Abduilahi, Emmanuel Pada Titus and Musa Umar Karaye for a purported project supervision exercise without requisite approval, thereby contributing to the economic adversity of the REA.

The commission said the offence was contrary to and punishable under Section 68 of the Public Enterprise Regulatory Commission Act, CAP. P39, Laws of the Federation, 2004.

In count two, Sambo was accused to have used his access password to access the REA’s GIFMIS platform and finalised the payment of the sum of N1.84 billion in different tranches for the use of Okojie, Aminat, Kwakwa, Abdullahi, Titus and Karaye for a purported project supervision exercise without authority.

The offence was said to be contrary to and punishable under Section 6(4) of the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015.

In count three, Sambo was alleged to have conferred corrupt advantage on Okojie, Aminat, Kwakwa, Abdullahi, Titus and Karaye when he used his access password to access the REA’s GIFMIS platform and finalised the payment of N1.84 billion in different tranches for their use for a purported project supervision exercise without requisite approvals.

The ICPC said the offence contrary to and punishable under Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.

NAN reports that Karaye, Titus and Okojie were also arraigned before Justice Emeka Nwite of a sister court on separate four-count charge preferred against them.

While Karaye and Titus were arraigned before Justice Nwite on June 13, 2024, Okojie was arraigned on June 14, 2024.

Usman Ahmed Kwakwa was also arraigned on June 13, 2024 on separate criminal charge before the judge and all of them were admitted to a N50 million each with two sureties each in the like sum.

In the charge marked: FHC/ABJ/CR/203/24 filed against Okojie, she was alleged to have in count one, sometime in March 2023 or thereabout, with intent to defraud the REA, received the sum of N342 million in different tranches through her Access Bank Account: 0009022275 under the false pretence of project supervision.

The offence is said to be contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fraud and Other Fraud Related Offences Act, 2006

Former New Jersey Senator Bob Menendez has been sentenced to 11 years in prison, following his conviction on bribery and corruption charges.

Last July, a jury found Menendez guilty on 16 counts for accepting gifts, including gold bars, cash and a Mercedes-Benz, in exchange for helping foreign governments.

Prosecutors were seeking at least a 15-year sentence, citing in court documents the “rare gravity” of the ex-senator’s crimes.

Lawyers for Menendez, 71, had called for a shorter sentence paired with community service.

“Somewhere along the way, you became, I’m sorry to say, a corrupt politician,” US Judge Sidney Stein said before handing down Menendez’s sentence, according to CBS News, the BBC’s US partner.

Before receiving his sentence, Menendez cried while addressing the courtroom.

“Other than family, I have lost everything I ever cared about,” he said, according to court reporters. “Every day I’m awake is a punishment.”

He then asked the judge “to temper your sword of justice with the mercy of a lifetime of duty”.

Menendez’s son, Rob Menendez, a Democratic congressman, and his daughter, MSNBC anchor Alicia Menendez, were seated in court behind their father.

Earlier on Wednesday, two of Menendez’s co-conspirators were sentenced in the case.

Fred Daibes, a New Jersey real estate developer who prosecutors say delivered gold and cash to the senator, was given a sentence of seven years in prison and fined $1.75m (£1.4m).

Wael Hana, an Egyptian-American businessman, who prosecutors say brokered a deal between Menendez and the Egyptian government, received more than eight years in prison and was fined $1.25m.

Menendez has repeatedly denied wrongdoing and has said he plans to appeal the guilty verdict.

The New Jersey senator, who used to lead the powerful Senate Foreign Relations Committee, resigned from the upper chamber in August.

The guilty verdict came after a nine-week trial, during which jurors saw evidence that Menendez accepted gifts including gold bars worth over $100,000 and more than $480,000 in cash, found by FBI agents inside Menendez’s home.

In exchange for the bribes, prosecutors said Menendez helped secure millions of dollars in US aid for Egypt.

His lawyers argued the gifts did not qualify as bribes, saying prosecutors failed to prove Menendez took any actions as a result of the bribes.

The former senator was also convicted for trying to influence criminal probes involving his two co-defendants, Hana and Daibes.

A third businessman involved in the case, Jose Uribe, has pleaded guilty and is expected to be sentenced later this year. He testified against Menendez during the trial.

Nadine Menendez, the ex-senator’s wife, has also been accused of acting as a participant in the scheme by shuttling messages and bribes between the three men and Egyptian officials.

Her trial was delayed so she could undergo breast cancer treatment and will begin in March. She has pleaded not guilty.

New facts have emerged on how Access Bank clandestinely granted N1 billion loan to a going concern, DDSS International Company limited, using a property belonging to another company, MOB Integrated Services, run by Gbolahan Obanikoro, as collateral without the owner’s consent or knowledge.

Details of the loan provided by insiders, revealed that the property, owned by MOB Integrated Services, was first used to guarantee a loan of N193,139,200 to Balmoral International Limited on May 21, 2013, from the now acquired Diamond Bank.

The credit facilities, referenced AOB/BB/VO/AD/031/05/2013, also included N120 million term loan and N20 million import duty facility.

The term of the loan was 180 days from the date of disbursement at 20 per cent per annum, while a third-party legal mortgage on the property located at 40B Bourdillion Road, Ikoyi, Lagos, was used as security.

However, long after Balmoral had repaid and serviced the loan, the bank, without recourse to the property owner, used the same collateral for another loan, completely unknown to the property owner.

The loan of N1 billion was granted to DDSS International Company Limited via an offer letter of May 16, 2019, using the same property as security.

The letter was signed by Bukola Shoyombo, a Relationship Officer in Access Bank Business Banking Division, and Oreoluwa Roy-Egbokhan, a Relationship Manager.

The purpose was to enable DDSS International finance the purchase of different brands of cars and luxury vehicles for sale to individuals and corporate organisations.

The tenor of the loan was for 60 months at 15 per cent interest per annum, subject to review based on prevailing market conditions.

The bank claimed that the collateral was a “comprehensive third-party legal mortgage on property located at 40B Bourdillion Road, Ikoyi. The property is currently with the bank and perfection has been concluded,” the bank claimed in the offer letter.

The implication, the insider, explained, was that the bank granted DDSS International the loan without collateral, because the property was not theirs and the owner had no relationship whatsoever with the company.

A complaint of stealing was later filed against the bank and others, following which the Lagos State Government filed charges against the Managing Director, Bolaji Agbede, and three others.

In the four-count charge pending before Justice Ibironke Harrison of the Lagos State High Court, sitting in Tafa Balewa Square, the Director, Directorate of Public Prosecutions, Mrs A. O. Oluwafemi, accused the bank and others of conspiracy, stealing, and attempted theft.

The defendants were the Managing Director of Balmoral International Limited, Adejare Adegbenro; Balmoral International Limited, Access Bank, Bolaji Agbede and DDSS International Company Limited.

The charge read: “Count 1: Conspiracy to Commit a felony to wit: stealing contrary to Section 411 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.

“Particulars of Offence: Adejare Adgbenro (m), Balmoral International Limited, Access Bank and Bolaji Agbede (m) on or about the 24th Day of September 2013 at Plot 1261, Adeota Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, conspired to commit a felony to wit: Stealing.”

The charge stated that they conspired and “stole the property of MOB Integrated Services at Plot 40b, Bourdillion Road, Ikoyi, Lagos, by using it as a security for a loan without his consent and subsequently entering into a consent judgment.”

The defendants were also charged with attempted stealing, contrary to Section 21 of the Criminal Law of Lagos State, 2015.

The prosecution said the defendants, on or about May 26, 2019, at Plot 1262, Adeola Hopewell Street, Victoria Island, Lagos State, in the Lagos Judicial Division, “attempted to steal the property of MOB Integrated Services at Plot 40B, Bourdillion Road, Ikoyi, Lagos by offering and granting DDSS International Company Limited a credit facility of N1billion only.”

However, following the defendants’ failure to appear for their arraignment, Justice Harrison ordered their arrest.

The judge issued the arrest warrant after prosecution counsel, Uthman Rilwan, informed the court that despite being served with a notice, the defendants failed to appear.

After issuing the warrant, the judge directed that it be executed against the principal officers of the defendant companies.

She adjourned until February 24, 2025, for arraignment.