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British, Indian Foreigners accused of defrauding Ecobank of $42.4m lose bid to quash bench warrant

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5 months ago

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A Federal High Court in Lagos has dismissed the applications by two Indian nationals, Prem Garg and Devashish Garg, and a Briton, Marcus Wade, to quash a bench warrant issued for their arrest and extradition.

The warrant was issued in connection with an alleged $42.485 million fraud. The court found the applications lacking in merit.

The defendants—Prem Garg and Devashish Garg, along with Marcus Wade, Chairman of Wilben Trade Limited, Dubai—are charged by the Attorney-General of the Federation (AGF) with defrauding Ecobank Plc of $42,485,900.

The alleged scheme involved pretending to use the funds to purchase and import parboiled rice from Nigeria to India.

The charges, detailed in case number FHC/L/562C/2022, dated October 7, 2022, include the following counts: “That you, Prem Garg, Devashish Garg (both of Indian nationality), Agrico Agbe Limited (a company registered in Nigeria), Wilben Trade Limited, Dubai (a company registered in the United Arab Emirates), and Marcus Wade (Chairman of Wilben Trade Ltd, Dubai, of British nationality), between May and September 2015, at Ecobank Plc, Lagos, conspired to commit an offense punishable under Section 422 of the Criminal Code Act, Cap C38 Laws of the Federation of Nigeria, 2004.”

“That you, Prem Garg, Devashish Garg both of Indian nationality, Agrico Agbe Limited (a company registered in Nigeria), Wilben Trade Limited, Dubai (a company registered in the United Arab Emirates, Dubai), Marcus Wade (Chairman of Wilben Trade Ltd, Dubai) of British nationality, sometime in the month of May and September, 2015 at Eco Bank Plc., Lagos within the jurisdiction of this court conspired between yourselves to commit an offence to wit: Cheating in that you caused Ecobank Plc to deliver monies to the tune of $42,485,900, which was intended by contract for the purchase and import into Nigeria India Parboiled rice but never utilized the sum of money for the contract and thereby committed an offence punishable under Section 421 of the Criminal Code Act, Cap, C38 Laws of the Federation of Nigeria, 2004.”

However, while the charge is pending, the defendants did not appear in court to take their pleas on the charges.

The development made the office AGF, through its lawyer, Dr. Pius Akutah, now Executive Secretary/Chief Executive Officer, CEO, of the Nigerian Shippers Council, file applications before the court for issuance of a bench warrant and possible extradition against them.

The application was granted by Justice Akintayo Aluko, sometime in November 2023.

But the defendants, through their lawyers, Dele Belgore and Dr. Dada Awosika, SANs, filed applications to quash the orders for their arrest and extradition.

The application was countered by the AGF through its lawyer, Mrs. Kehinde Bode-Ayeni, who inherited the case file from Dr. Pius Akutah.

Justice Aluko, in delivery, said that the proceedings before the Magistrate Court in Delhi, India cannot operate as a stay in criminal proceedings in Nigeria because it’s not purely criminal proceedings, moreso, it is a proceeding in Nigerian court as constituted by the Nigerian constitution.

The second issue is that an order of status quo granted by another court cannot vitiate the criminal charge pending in this court.

The position of the administration of Criminal Justice Act which regulates criminal proceedings in Nigeria has stipulated that the criminal and civil proceedings can be going simultaneously.

On the final note, Justice Aluko held, “There is no merit in the applications filed by the defendants.”

The judge held that the two applications lacked merit and were dismissed.

Consequently, Justice Aluko adjourned the case to October 24, for report on bench warrant and further proceedings.

 

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Moment Of Praise Ends 2024 with Renewed Hope and New Beginnings

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23 hours ago

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December 29, 2024

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The founder of Moment of Praise, an online weekly praise and worship session, Ranti Netufo, has said despite the challenges and difficulties experienced in the year 2024, there are many reasons to praise God for divine provisions in various ways.

He stated this while commenting on the special session of the programme slated for the last Sunday of the year titled “Renewed Hope and New Beginnings.”

The online praise and worship programme is holding from 6-8pm on Sunday December 29.

“The year 2024 has been filled with challenges. Despite the economic difficulties it has been amazing, with Moment of Praise, the Lord has kept us safe from the beginning of January until now. We all have a reason to praise God for His protection and mercy over us and our loved ones.

“Moment of Praise, an online weekly praise and worship programme, has provided avenue for us to praise and worship the Almighty God with top and popular gospel musicians.

“The programme climaxed for the year today with the programme themed “Renewed Hope and New Beginnings”, reference from Isaiah 43:19. 2024 has been an amazing year despite its own challenges, the Lord has given us moment to praise Him and celebrate.

‘’Today being the last Sunday of the year, we will be celebrating as we make a joyful noise unto the Lord with Moment of Praise team and Victor Praise. The programme will be streamed live on Facebook from 6-8pm,” he said.

Many gospel music stars have ministered to audience of the programme in the past, such as Tobe Alabi, Adeyinka Alaseyori, Evangelist Chigozie, Toluwanisings, Apekeola, Lekan Remilekun, Princess Ifemide, Paterson Okopi,Tope Flourish, Dare Justified, Bidemi Olaoba, Lady Evangelist Asonja Grace Awoete (Arole Eledumare), among several others.

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More Troubles For Ex-Delta Gov. Okowa As EFCC Arrests Accountant General Over N1.3Trn Fraud

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2 days ago

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December 28, 2024

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The Economic and Financial Crimes Commission (EFCC) has intensified investigations into the activities of former Delta State Governor, Ifeanyi Okowa, over an alleged N1.3 trillion fraud with the arrest of the Accountant General of Delta State, Mrs Joy Enwa.

The arrest of Enwa by the anti graft commission we gathered is part of investigations into the alleged misappropriation of N1.3 trillion linked to Okowa.

Other officials being questioned by the anti-graft agency, including a former Director of Finance and Administration.

EFCC sources hinted that the contentious funds include portions of the 13 percent derivation allocation meant for oil-producing states from the monthly Federation Account revenue.

It was widely reported that former Governor Okowa was detained at the EFCC’s Port Harcourt office in November over allegations of using his office to divert state funds for personal gain.

Among the assets allegedly tied to the fraud include shares in UTM Floating Liquefied Natural Gas (LNG) Company and investments in the oil sector.

Spokesperson of the Commission, Dele Oyewale, who confirmed the arrest, said; “Mrs Enwa was detained for questioning over the ongoing investigation into the mismanagement of state funds under the former administration. Some other government officials have also been interrogated.”

Mrs. Enwa, who served as Deputy Accountant General during the administration of Governor Emmanuel Uduaghan, was appointed Accountant General by Okowa in 2020.

When contacted to comment on her engagement with the anti-graft agency, Mrs. Enwa declined to provide details, stating; “I am not the right source to confirm this story. Please contact the EFCC for clarification.”

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Alleged Debts: NCC Approves Disconnection Of Exchange Telecoms From MTN Company Network

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2 days ago

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December 28, 2024

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The disconnection of Exchange Telecommunications LTD from MTN Nigeria Network has been approved by the Nigerian Communications Commission (NCC).

MTN company was accused of failing to settle interconnect charges.

Exchange Telecommunications is a local and international interconnect carrier.

The NCC, a regulatory commission made this known in a public notice signed by its Public Affairs Director, Mr Reuben Muoka at the NCC office on Friday.

It was noted that the disconnection would subsist until otherwise determined by the commission.

“The Nigerian Communications Commission hereby notifies the public that approval has been granted for the disconnection of Exchange Telecommunications Ltd. (Exchange) from MTN Nigeria Communications Ltd. (MTN) as a result of non-settlement of interconnect charges,” the NCC said.

It was also stated that the Exchange was notified of the application and was given the opportunity to comment and state its case.

The NCC, however, said having examined the application and circumstances surrounding the indebtedness, it determined that the Exchange does not have sufficient reason for non-payment of the interconnect charges.

NCC said the disconnection of the Exchange Telecommunications to MTN was in accordance with Section 100 of the Nigerian Communications Act, 2003 and the Guidelines on Procedure for Granting Approval to Disconnect Telecommunications Operators, 2012.

At the expiration of five days from the date of this notice, MTN would discontinue passing voice and data traffic through Exchange and will, thereafter, utilise alternative channels in interconnecting with other network service providers.

 

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