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First Marina Trust: How two staff allegedly transferred clients N1.3b to friend, BDC — Witness

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A Federal High Court in Lagos on Monday heard that two former employees of First Marina Trust Limited cloned emails of several customers and defrauded them to the tune of over N1.3 billion.

Anthony Onyeoghane, a witness for the Economic and Financial Crimes Commission, gave this evidence.

He spoke at the resumed trial of two staff of First Marina Trust Limited: Adeyemi Oluwaseun and Suleiman Yusuf, who have now been sacked.

The EFCC charged them on four counts bordering on conspiracy to commit identity theft, impersonation and cybercrime.

They were first arraigned in June 2018 before Justice Chuka Obiozor.

They pleaded not guilty to the charge.

The court granted them bail.

However, Obiozor was transferred from the Lagos Division of the Federal High Court and the case was re-assigned to Justice Tijani Ringim.

Following the re-assignment of the case, the defendants were on May 12, 2022 re-arraigned before Ringim.

They, again, pleaded not guilty to the charge and Ringim allowed them to continue on their earlier bail.

When trial resumed on Monday, prosecution counsel, Nnaemeka Omenwa, called the witness for examination-in-chief.

Onyeoghane told the court that he worked as a Chief Risk Officer at First Marina Trust Limited, a financial institution regulated by the Central Bank of Nigeria.

He identified the defendants as his former colleagues who served as Marketing Operator and Relationship Manager respectively.

The witness told the court that he had chaired a committee set up to investigate a case of internal fraud within the company and allegedly orchestrated by the defendants from May 3, 2016.

He told the court that both defendants connived to create email addresses of customers in a bid to defraud them.

According to Onyeoghane, the defendants conspired to change the email address of a customer, Chinedu Ohamuo, whose email address is: chimexohanuo@yahoo.com.

The witness said that the defendants changed same as chimexohamuo1@yahoo.com.

He said that following a change of the email, the second defendant, acting as a customer of the company, wrote an email to himself in his official email address, instructing N15 million should be liquidated from the customer’s investment account.

He said that the second defendant also instructed that the funds should be transferred to one Olufemi Ajala, his childhood friend.

The witness said that the second defendant printed out the email address as required by company’s policy, wrote on it: “Email received,” dated and signed it.

Onyeoghane added: “He then took the said email to the first defendant who, upon verification, uploaded the request to the electronic payment system known as GAPS.

“The sum of N15 million was, therefore, transferred from the unsuspecting customer’s account to Olufemi Ajala.

“They used the same tactics in 19 other transactions.

“The defendants transferred from unsuspecting customers’ investment accounts the sum of over N1.3 billion.”

The witness testified that the only difference between the 19 other transactions and the one to Ajala was that Ajala was removed from the “equation” and replaced with a Bureau De Change.

Onyeoghane said: “On May 16, 2016, a customer known as White App Resources Limited also saw his investment account defrauded by the defendants to the tune of N186.2 million, using computer system.

“On May 17, 2016, the same cyber fraud was committed by the defendants on the same customer, and the sum of N237.2 million was stolen.

“On May 27, 2016, the sum of N500.2 million was also stolen.”

The witness told the court that same fraud happened on June 9, 2016; June 22, 2016; and September 8, 2016, during which various sums of money were transferred.

Onyeoghane told the court that the first defendant confessed to the investigative committee that he provided the accounts of the Bureau De Change into which the monies were transferred.

According to the witness, while on the run on September 19, 2016, the second defendant sent an email to the Managing Director of the company, confessing to the crime and promising to use his “last blood” in making sure that he refunded the money.

The witness told the court that the proper procedure for liquidating a company’s account was by a hand-written letter or email, requesting same.

“The said letter or email is sent to the relationship manager of that particular customer, who is to confirm the letter or email by calling the customer to verify,” he said.

According to Onyeoghane, upon verification, the officer is to write: “Email or letter confirmed,” then sign and hand it over to the treasury operation staff, who in turn verifies same before uploading it in the electronic payment system.

The case has been adjourned until February 14, 2023 for continuation of trial.

The EFCC alleged that the defendants obtained sums of money from unsuspecting customers of the company by altering their email addresses.

The EFCC said that the offences contravene the provisions of Sections 13, 22(4), 27(a) and 27(2) of the Cyber Crimes (Prohibition, Prevention) Act, 2015.

 

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Adeleke swears in new Osun LG chairs, urges good governance

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Osun State Governor, Senator Ademola Adeleke, on Sunday, inaugurated the newly elected local government chairmen and councillors in the Saturday poll.

Adeleke urged them to focus on good governance while warning against any attempt to forcibly occupy council secretariats.

He also expressed gratitude to President Bola Tinubu for resisting attempts by some forces to destabilise Osun State.

Speaking at the swearing-in ceremony in Osogbo, the governor described the occasion as a major milestone in the state’s democratic process, emphasising that the election was conducted in line with due process.

“We are here to conclude a democratic process for which we all laboured so hard to achieve,” Adeleke said.

Before proceeding with his address, the governor called for a minute of silence in honour of those who lost their lives during the “illegal APC takeover of local government secretariats.”

The governor recounted the journey leading to the local government election, stating that the Osun State Independent Electoral Commission had duly followed all legal procedures.

“The state electoral body had issued due notice of election a year ago. I know the commission had complied with all extant rules and procedures which led to the emergence of new local government chairmen and councillors,” he stated.

While acknowledging the legal controversies surrounding the election, Adeleke affirmed that his administration acted within the ambit of the law.

“It is, however, a thing of joy that the facts are out in the public domain, and we are satisfied that we are on the side of the law within the context of the rule of law and the constitution,” he added.

Call for Good Governance….

Addressing the newly sworn-in officials, Adeleke charged them to be “agents of change, community developers, and deliverers of the dividends of democracy.”

“You have the mandate to deliver on good governance in your respective local governments.

“I charge you to develop plans of action within the manifesto of the Peoples Democratic Party (PDP).

“As our government is transforming the state for the better, I call on you to be agents of change,” he said.

The governor also appreciated the people of Osun for their steadfast support, assuring them that his administration would remain committed to their welfare.

“Osun people demonstrated courage and passion to exercise their voting rights, and they did so by massively supporting our party despite all the constraints. We will not fail you. People’s welfare will continue to be our watchword,” he promised.

Adeleke commended OSIEC, security agencies, and state officials for ensuring the success of the election.

Appreciation to Tinubu

In a significant moment, the governor expressed gratitude to President Bola Tinubu for resisting attempts by some forces to destabilise Osun State.

“I should not end this address without acknowledging the contributions of Mr. President, Senator Bola Ahmed Tinubu.

“I am most grateful to Mr. President for rejecting efforts by some forces to plunge Osun into chaos,” Adeleke stated.

He reaffirmed his commitment to upholding the rule of law and the constitution in governance and conflict resolution.

Warning Against Forced Takeover
The governor strongly advised the newly elected chairmen and councillors to avoid confrontation at local government secretariats, citing an ongoing legal process to resolve the leadership crisis.

“I urge you and your councillors to please stay away from the council secretariats to avoid any clash with those whom the police had aided to forcefully occupy the local government secretariats,” Adeleke cautioned.

He referenced an Osun State High Court ruling that had affirmed vacancies in both chairmanship and councillorship positions before the election on February 22, 2025, assuring that his administration would rely on the judiciary to remove those illegally occupying the secretariats.

“Please be patient and always abide by the rule of law,” he advised.

With that, Adeleke formally declared the swearing-in of the elected local government officials.

“It is on this note that I, Senator Ademola Jackson Nurudeen Adeleke, the Executive Governor of Osun State, hereby effect the swearing-in of elected local government chairmen across Osun State. Congratulations and God bless you,” he concluded.

 

 

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Alcohol, tobacco record highest inflation rate

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The National Bureau of Statistics has disclosed that alcoholic beverages, tobacco, and narcotics recorded the highest inflation rate at 14.80 per cent, according to its latest rebased Consumer Price Index for January 2025.

In a graphical illustration presented in its CPI report, the NBS noted that the alcohol and tobacco item division was followed by restaurants and accommodation services, which had an inflation rate of 14.14 per cent, while transport and clothing and footwear recorded 12.77 per cent and 12.73 per cent, respectively.

The report, which rebased Nigeria’s CPI to 2024 as the new base year, revealed that headline inflation stood at 24.48 per cent in January 2025, meaning that the general price level of goods and services rose significantly compared to the same period in 2024.

The report by the NBS read, “The rebased All Items index in January 2025 was 110.68, while the headline inflation rate on a year-on-year basis stood at 24.48 per cent in January 2025.

“This means that the general prices of goods and services in Nigeria increased by 24.48 per cent compared to January 2024.”

The CPI rebasing was necessary to reflect current economic realities and consumption patterns in Nigeria.

The rebased CPI structure covers 934 product varieties, classified under 13 divisions based on the 2018 Classification of Individual Consumption According to Purpose.

The divisions include food and non-alcoholic beverages, clothing and footwear, transport, housing and utilities, furnishings, health, communication, and education, among others.

The weighting structure was adjusted to account for changes in consumer spending, with food and non-alcoholic beverages maintaining the highest weight at 40 per cent, although it declined from 51.8 per cent in the previous base year of 2009.

According to the report, inflationary pressures varied across different categories, with food and beverages inflation at 10.64 per cent, reflecting the continued rise in staple food prices.

The personal care, social protection, and miscellaneous goods and services division recorded 12.04 per cent inflation, while furnishings, household equipment, and routine household maintenance saw an inflation rate of 11.48 per cent.

The health sector recorded 9.42 per cent inflation, while housing, water, electricity, gas, and other fuels increased by 7.61 per cent.

The education sector and insurance and financial services recorded the lowest inflation rates, standing at 4.88 per cent and 4.65 per cent, respectively. Information and communication, which was newly assigned a higher weight in the rebased CPI, had an inflation rate of 7.54 per cent.

The recreation, sport, and culture category recorded 6.85 per cent, highlighting moderate price increases in these services.

The NBS report highlighted the divergence in inflation trends between urban and rural areas, with urban inflation at 26.09 per cent, while rural inflation stood at 22.15 per cent.

This suggests that price pressures were more severe in urban areas, particularly in sectors such as housing, transportation, and restaurant services, where cost increments were more pronounced.

The rebasing exercise introduced new methodologies to enhance the accuracy of inflation tracking.

Data collection was fully digitised, replacing paper-based surveys with computer-assisted personal interviewing devices, which allowed real-time transmission and verification of price data.

The high inflation rate for alcoholic beverages and tobacco is linked to multiple factors, including excise duties, exchange rate volatility, production costs, and supply chain disruptions.

We further observed that Imo State emerged as the most expensive state to reside in Nigeria following the rebasing of the Consumer Price Index by the NBS.

The development marked a significant shift in Nigeria’s inflation rankings, as Bauchi, which held the top spot for seven consecutive months, was dethroned.

The change comes after the NBS updated its methodology, adjusting the base year from 2009 to 2024, revising the weighting structure, and expanding the consumer basket to better reflect household spending patterns.

Earlier, the Statistician-General of the Federation and Chief Executive of the NBS, Prince Semiu Adeyemi, said, “Rebasing our GDP and CPI allows us to align with these transformations, providing a more precise and relevant picture of Nigeria’s economic landscape.

“This process is foundational to informed policymaking, strategic planning, and effective governance; hence, it is one exercise that the NBS is conducting with significant importance and professionalism.”

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Fire guts MTN booster station in Oyo

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An MTN booster station located on the premises of the University of Ibadan, Oyo State, was gutted by fire on Saturday.

Our Investigations revealed that the fire, which broke out at the booster station within the Faculty of Nursing, was caused by an electrical surge.

One of the witnesses told our correspondent that “the incident occurred in the early hours of Saturday around 4 am.”

Another source said, “The incident affected the Mikano electrical generator, board, and other telecommunications gadgets in the booster station.”

When contacted in Ibadan, the state capital, the Special Adviser on Fire Services Reform to Governor Seyi Makinde and Chairman of the State Fire Services Agency, Moroof Akinwande, confirmed the incident.

He said the booster station belonged to the MTN.

He said, “The state Fire Service’s prompt response doused the fire at the MTN booster station beside the Faculty of Nursing, University of Ibadan.

“The fire incident was reported exactly at 04:00 hrs on Saturday, February 22, 2025.

“The fire personnel, led by ACFS Olubunmi, were promptly deployed to the scene and arrived on time.

“On arrival, we met the Mikano electrical generator and board on fire. We quickly joined hands with the university’s fire marshals, and the fire was extinguished completely. The fire was caused by an electrical surge”, he explained.

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