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Emefiele didn’t get approval to redesign naira – Ex-CBN director

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The trial of the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, continued on Tuesday with a former Director of Operations at the apex bank, Ahmed Umar, telling the court that the naira redesign embarked upon by Emefiele late 2022 did not have the approval of the Committee of Governors.

The Economic and Financial Crimes Commission had on May 15 arraigned Emefiele before Justice Maryanne Anenih of the Federal Capital Territory High Court on charges bordering on alleged unlawful redesign and printing of the new naira notes.

In the charge marked CR/264/2024, the EFCC alleged that Emefiele carried out the naira redesign policy without the approval of the CBN Board and President, Buhari.

The anti-graft agency said without the approval of the CBN Board and the President Muhammadu Buhari, Emefiele spent N18.96bn for the printing and swapping of new naira notes worth N684.5m

It alleged that Emefiele, “knowingly disobeying the direction of Section 19 of the CBN Act, 2007” approved “the printing of N375,520,000.00 pieces of colour swapped N1,000 notes, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria, among other things.”

At the trial opening on Tuesday, the EFCC fielded ex-CBN Director of Operations, Umar, as its first witness.

Led in evidence by the EFCC prosecutor, Rotimi Oyedepo (SAN), Umar told the court that his department in 2022 was directed to come up with the new design for the naira.

“The management of CBN directed my department to come up with a memo on the design of the naira note sometime in August 2022.

“We prepared the bill with the Committee of Governors and passed it through the line Deputy Governor Operations, which he forwarded to the Governor and it was listed for consideration by the Committee of Governors.”

The ex-director, who told the court that he joined CBN 35 years ago and retired in July 2023, explained that the Committee of Governors comprised five members, including the CBN Governor as chairman.

The witness told the court that the naira redesign memo was presented to the Committee of Governors for their consideration/ review on October 26, 2022, but the committee did not approve it.

Umar said, “We humbly requested the implementation of the amendment. (But) the extract from the COG did not approve item one and item three. While item two was modified to include N200 denomination, the proposal for the exercise in 2023 wasn’t approved by the COG.

“The procedure requires the Board of Directors to recommend to the President for design and form.

“The design shall be contained in the currency after the approval of the President then the production of the currency will commence.”

Justice Anenih, admitted in evidence, the Certified True Copy of the memorandum filed by the Operations Department and marked it as Exhibit A.

The EFCC, in the charges, accused Emefiele of spending N4.4bn to print “coloured swapped N500 notes.”

According to the EFCC, Emefiele spent N3.4bn to print “137,070 pieces of coloured N200 notes.”

The EFCC said Emefiele carried out the alleged actions between October 2022 and March 2023 in Abuja in clear violation of Section 19 of the CBN Act.

The EFCC alleged that Emefiele disobeyed the direction of the law with the intent to cause injury to the public with the manner in which he implemented the naira swap policy.

Emefiele was also accused of unlawfully approving the withdrawal of N124.8bn from the Consolidated Revenue Fund of the Federation.

The ex-apex bank chief, however, denied all the allegations, pleading not guilty.

 

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Behold The Next Owa Obokun Of Ijesa Land, Dr. Oriyomi Adewunmi Akerele…. A Pedigree Of Excellence And Omoluabi Prince Of The Source

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A successful healthcare administrator based in the United States, proud Ijesha prince, historian per excellence, Dr. Oriyomi Adewunmi Akerele was born on August 10th 1974, to a the BILARO ruling house of Ijesaland

 

He attended University of Ilorin where he bagged a B.A degree in history and eventually proceeded to the prestigious University of Arlington Texas where he obtained both is Masters and PhD in History. He also holds an MBA healthcare management from Dallas Baptist University.

 

 

A successful Prince of the soil, Dr. Akerele presently runs a top healthcare company in the US with a portfolio of over 7 billion USD, and still counting.

 

According to him, he is ready to take the position of the leadership of his home town where he has a lot of passion and drive to take to the next level considering his exposure in the international environment.

 

“I am passionate about the development of Ijesaland, I want to take our historical town and its people to a higher level of development through purposeful leadership through cooperation of all Ijesa sons and daughters both at home and abroad.

Adding that his intentions are pure and for the benefit of the sons and daughters of the ijesha land. “I intend to focus on the areas where the Ijesa’s have the comparative cost advantage over other towns in Yorubaland.

 

He has so far got the backings of the ijesa indigenes in diaspora to give him all the support in whatever way he might be needing them;

 

“ I have the support and assurance of Ijesa sons and daughters in the diaspora and they are ready to lend their hands and resources for the development of our ancestral land”

 

“I am ready to leave my comfort zone and answer the call of leadership to the throne of my forefathers, I have the pedigree, exposure, love and compassion to lead Ijeshaland and rewrite the history, culturally, economically and socially” he concluded.

 

 

 

 

It will be recalled that Ijesha’s are a sub-ethnicity of the Yorubas of West Africa. Ilesha is the largest town and historic cultural capital of the Ijesha people, and is home to a kingdom of the same name, ruled by an Oba locally styled as the Owa Obokun Adimula. The last reigning Owa Obokun was Oba Gabriel Adekunle Aromolaran II, who joined his ancestors around September, 2023.

 

 

According to prince Oriyomi, “as Ijeshas, we need to connect our roots and stems to our present.

We (Ijeshas) are battle strong; we are smart business people; pace setters in everything we do. Our excellence should be studied.

 

What we need is a synergy of our strengths and a strong purpose of our collectivity” If opportune to ascend the throne of my ancestors, I will work with everyone to make Ijeshaland a prosperous land that would beam with pride, success while creating a generation of immaculate community. From our major towns of Iperindo, Ijebu-Ijesha, Osu, Esa Oke, Ikeji Arakeji, Owena, Imesi Ile, Ifewara and other several villages, we will have a land that we would bemoans opportunities and bliss.

 

 

Dr. Oriyomi is married to princess Oluwaseun Akerele nee Bakre of the Gbagura clan of Egbaland.

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Egiji Atigwe, Son Of Ex-Enugu Assembly Deputy Speaker, David Atigwe Identified By Suspect As Gun Supplier To Kidnappers

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Egiji Atigwe, son of former Deputy Speaker of the Enugu State House of Assembly, Hon David Atigwe, has been named as the person providing guns to armed robbers and kidnappers.

 

David is the elder brother of Hon Simon Atigwe, who lost his seat in the House of Representatives to Dennis Agbo of Labour Party last week following a Court of Appeal judgement on the rerun election for Udenu/Igboeze North Federal Constituency.

 

 

 

A suspect, who was arrested for his involvement in robbery and kidnapping activities in Igboeze North local government area and other parts of Nsukka zone, identified as Emzor, mentioned Egiji’s name during interrogation by the security agents.

 

 

In a video interrogation and confessional statement made available to SaharaReporters on Wednesday, the suspect reeled out names of his gang members.

 

 

 

In the 4 minute and 7-second video, the suspect is interrogated by operatives of the Enugu State Neighbourhood Watch group in local dialect while on his knees.

 

 

 

In the video, the suspect said they hire their guns, including a double-barrelled gun from Egiji Atigwe, who is now on the run.

 

 

The suspect also told the police that Egiji shares the proceeds of crime among gang members.

 

 

 

A policeman is heard asking him how much they collected from one of their victims and he replied, saying, “I don’t know but I was given N35,000 as my share. Egiji is the one who handles the money.”

 

 

 

The suspect, who was tortured with hands handcuffed behind his back named one Star Boy and Cobra as members of the gang.

 

 

However, efforts made by SaharaReporters to speak with the Enugu State Police Command for comments were unsuccessful as the Command’s spokesperson DSP Daniel Ndukwe did not answer his calls.

 

 

 

As at the time of filing this report, he had yet to reply to the text message sent to him seeking his comment.

 

 

 

Meanwhile, SaharaReporters gathered that there are ongoing moves by Ejigi’s family to scuttle the case.

 

 

It seems as if the state government has intervened in the matter, as the commissioner for finance, Mr Urama, who is from same area with the Atigwe’s has visited the Enugu- Ezike divisional police to request the police in the area to do a thorough investigation on the matter,” a source told SaharaReporters.

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Ajaokuta Steel Company Boss, Sumaila Abdul-Akaba Faces EFCC Probe, Forced To Resign Over Alleged Mismanagement

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Sumaila Abdul-Akaba’s seven-year period as the Sole Administrator of Ajaokuta Steel Company Limited has been forced to an end, as he now faces a probe by the Economic and Financial Crimes Commission (EFCC).

We learnt that the company prepared a memo saying Abdul-Akaba completed his tenure in office but it was understood that the EFCC probe actually abruptly ended his administration and forced his resignation.

 

 

 

The internal memo obtained by SaharaReporters claimed that his tenure simply elapsed on October 10, 2024.

 

 

According to the memo, dated October 14, 2024, from the Head of General Administration, Mr. Ahmed, S.A., Abdul-Akaba’s departure “was merely a result of completing his tenure, not resignation.”

 

 

 

“The Ministry of Steel Development has approved Kanwai Atungs Joseph, the most senior Engineer and General Manager of Engineering Works, to oversee the company’s affairs until a new Sole Administrator is appointed.”

 

 

The memo added, “Following the completion of the tenure of Engr. Sumaila Abdul-Akaba, FNSE on 10th October, 2024, the Ministry of Steel Development has approved that the most senior Engineer in the Company, Engr. Kanwai, Atungs Joseph (General Manager -Engineering Works) to oversee the affairs of the Company pending the appointment of a substantive Sole Administrator.

 

“All Head of Departments are to bring this information to the attention of all staff and enjoined them to accord him their full cooperation.”

 

We learnt that despite the memo stating that the tenure of the outgone Sole Administrator elapsed on October 10 according to the memo, he actually left office on October 14, four days after the expiration of the purported tenure.

 

Meanwhile, sources told SaharaReporters that the Minister of Steel Development, Prince Shuaibu Abubakar Audu, has also resubmitted his name to the Senate Committee on Steel Development for reappointment in contravention of extant laws establishing Ajokuta Steel.

 

We have it in good authority that the Minister has submitted his name to the Senate for reconfirmation as the next Sole Administrator of Ajokuta Steel Company. Meanwhile, while the memo of October 14, stated that he has completed his tenure on October 10, why was he in office till October 14? Again there’s no company or federal government parastatal that the tenure of its leadership is beyond five years,” stated one of the sources.

 

 

“So we suspect that because of the petition to the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Minister and ministry realised that his tenure in office has elapsed to stall investigation of his corruption activities.”

 

The Nigeria Ethnic Nationalities Youth Leaders Council (NENYLC) had in September, petitioned the anti-graft agencies alleging corrupt practices and mismanagement under Abdul-Akaba’s leadership.

 

The group cited widespread allegations of job racketeering, kickbacks, inflated contracts, and diversion of funds meant for the company.

 

The EFCC in acknowledgement letter of the petition, numbered EFCC/PET/HOR/2914/2024, stated “This is to certify that the petition with the following details was received by the commission on this day, Wednesday 4th September, 2024 at 03:14PM.

 

The petition was titled: “Petition to the EFCC Corrupt practices and mismanagement at the Ajaokuta Steel Company.”

 

Source: Sahara Reporters 

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