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HOW POLARIS BANK KNOWINGLY ROBS N920 MILLION BELONGING TO STATE GOVERNMENT

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While the corruption searchlight has been beamed on the nation’s political players, corporate organizations especially the Tokunbo Abiru led Polaris Bank (formerly Skye Bank Plc) being a kingpin in the corporate fraud cartel, have cashed in on this charade to blindly suppress and defraud Nasarawa State of its IGR for years running into Millions of Naira. This systemic fraudulent practice carried out by then Skye bank (now Polaris bank) surfaced after an exhaustive forensic audit done by a Lagos-based Forensic Accounting Consultancy firm engaged by the Nasarawa State Board of Internal Revenue to improve the state’s Internally-Generated-Revenue (IGR) base of excess bank charges, high network individuals, withholding tax on dividends, interest, and deposits against banks operating in the State from 29th May 1999 to December 2017. After perusing through the records of the Nasarawa State Board of Internal Revenue to assess the state’s IGR performance and the bank’s compliance in tax remittance for the period under review, it was garnered that the bank under the management of Mr Tokunbo Abiru brazenly defrauded Nasarawa State government of a whopping N131,302,177 (One Hundred and Thirty-one Million, Three Hundred and Two Thousand, One Hundred and Seven Naira) in unremitted 10% Withholding Tax on Credit Interest monies, Pay As You Earn among others. It was further revealed by sources that the fraud which has continued for years with immunity have had a smooth sail as the bank known for its lobbying prowess successfully greased the palms of the ‘Ogas at the top’ in the state’s board. As though assaulting the Northern front, another audit carried out by the Niger State Board of Internal Revenue to ascertain the level of tax compliance of banks in the state from 29th May 1999 to 31st August 2017 showed that Skye Bank Plc (now Polaris Bank) also diverted a jaw-dropping N789,653,459 (Seven Hundred and Eighty-Nine Million Six Hundred and Fifty-Three Thousand Four Hundred and Fifty-Nine Naira) belonging to the Niger State government to its treasury. The bank’s corrupt practice which seems to have cut across its management and staff despite having a mantra for being trustworthy is also evident in the case of the bank’s former chairman, Tunde Ayeni and the Managing Director, Timothy Oguntayo who have been slammed with a 10 count charge by the EFFC for laundering over N21 Billion.

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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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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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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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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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