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EFCC PRESENTS FIRST WITNESS AGAINST CAST OIL AND GAS MD, OLATUNJI AMUSHAN OVER ALLEGED N260M FRAUD

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4 years ago

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The trial of Olatunji Amusan, Managing Director, Cast Oil and Gas, for an alleged N260 million fraud, continued on Wednesday, December 2, 2020 before Justice Oluwatoyin Taiwo of the Special Offences Court sitting in Ikeja, Lagos with the Economic and Financial Crimes Commission, EFCC, presenting its first witness, Hycenth Obinna, an investigator with the
Commission.

Amusan, who was first arraigned alongside his company in November 2019, is standing trial for allegedly defrauding Nkasi Onyung, Managing Director, Energy Limited.

During today’s proceedings, the witness narrated how Onyung had approached the Commission after she was defrauded by Amusan.

The petitioner alleged that her company had issued the sum of N260 million to Amusan’s company for the purchase of 3, 250litres of diesel (AGO), which was never delivered.

Led in evidence by Chikezie Edozie, Obinna told the Court that Onyung petitioned the EFCC accusing Amusan of the fraud.

He said: “In the course of the investigation, we discovered that the defendant had several other cases with the Commission

“We also found out that he was about to take off from the country.

“So, I visited the office of the defendant in Victoria Island, Lagos along with a colleague in my Team and arrested him.

“We brought him to our office, where we read the petition to him. “He confessed that he was aware of the transaction in question’.

“We then took his statement under caution after we had interviewed him. “He stated that everything in the statement was true.”

Testifying further, Obinna told the Court that letters were written to Fidelity Bank for the bank statements of the petitioner and the defendant, as the transactions were carried out through the bank.

He stated that forensic analysis confirmed that the sum of N240 million was, indeed, released for the transaction, but the defendant, rather than use it to supply the product requested, moved the money to his own account.

“He told us that he used the money as an equity,” Obinna said. According to the witness, Amusan later promised to pay back the money.

He said: “He brought back the first N100 million, which was later released to the complainant; then, another N60 million, which was also registered in the exhibit register and released on bond to the complainant; and then another N5 million, totalling N165 million out of the N260 million.

“After that, he jumped bail, till another team investigating another case arrested him for other alleged fraud.

“That was when we took him up again and charged him with fraud, as all
the promises to pay back did not yield anything.”

The case was adjourned till January 20, 2020

Tunji is an astute entrepreneur with over 15 years of experience in logistics management, project management and has extensive cognate experience in Business Strategy, marketing, and sale of technology solutions.

His sector expertise cuts across Manufacturing and Telecommunications industries.

Mr. Amushan is the founder of CAST Oil & Gas Limited, which has provided him with experience in vessel chartering, bunkering, and trading of refined petroleum products within and around the West African sub-region.

He serves as the Chief Executive Officer of CAST Oil & Gas Limited. He has successfully grown the company to become a major player in the Downstream Sector of the Nigerian Oil and Gas Industry.

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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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14 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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1 day 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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1 day 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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