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

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3 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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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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9 hours ago

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November 7, 2024

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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21 hours ago

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November 6, 2024

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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23 hours ago

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November 6, 2024

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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