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Investors To CMB Real Estate Cry Out Over Fraudulent Activities Of The Company

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*Investors Seek intervention of anti-graft agencies

CMB building Maintenance and Investment Company is currently embroiled in controversy and allegation of corruption, unlawful breach of trust, enrichment and conversion.

The Chief Executive Officer of CMB, Mr Kelechukwu Mbagwu, it was learnt, is currently the President of the Nigeria Rugby Football Federation (NRFF) and a Vice-President of Kings College Old Boys Association.

According to reports and information publicly available and published by Guardian newspapers on Monday 3rd June, 2019, Page 58, he was alleged to have fraudulently obtained bank loans by mortgaging the properties of homeowners in the prestigious Pearl Garden Estate Residential community without their knowledge.

In a petition before the Economic and Financial Crimes Commission (EFCC), CMB obtained a loan from the Diamond Bank by using the houses of four of the residents as collateral for the loans without their knowledge.

According to information available on social media, several frauds running into billions of Naira have been perpetrated against innocent real estate prospectors. The scheme ranges from the Pearl Royale I & II, Pearl Garden Estate, Pearl Nuga Park, Pearl Nuga Park Extension, Pearl Garden Extension. Several customers who purchased land in the fictitious Pearl Royale Scheme over a decade ago are yet to be shown the location of the scheme, let alone receive an allocation of their land.

Upon further investigation, it was revealed that several homeowners in the Pearl Garden Estate scheme had paid CMB money over several years while the houses are yet to be delivered. Similarly, plots of land that were purchased several years ago were currently being fraudulently resold to unsuspecting clients.

According to sources, CMB allegedly owes Diamond Bank (now Access Bank) several hundred millions of Naira which may have been secured using the properties of CMB’s customers without their knowledge. Many of the affected homeowners are at the risk of losing their houses and investments due this illegal process.

Information gathered reveal that CMB has not denied any of the petitions before the EFCC as alleged. When Mbagwu was contacted to respond by confirming or denying the allegations, he said he was in a meeting with a promise to call back, which he never did. When called again, he refused to pick his calls and refused to respond to short messages (SMS) sent to him by our reporter.

CMB it was also learnt owes several other banking institutions within and outside Nigeria including Wema Bank and Shelter Afrique.

The CMB chief, it was gathered, is well-connected and can easily have his way easily through issues. For having his office located on the highbrow Ruxton Road, Ikoyi, and having some important personalities on the board of his company confirms this, our source added.

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Lagos Celebrates Africa’s First AI Radio and Robotic Brilliance

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In a dazzling display of digital innovation, Tingo AI Radio—Africa’s first AI radio—hosted a meet and greet that brought together indigenous communities and tech enthusiasts in Lagos. The event showcased an array of mind-blowing robotic automations and AI-driven innovations designed to transform local industries. Live demonstrations featured robots assisting in tasks such as precision agriculture and digital storytelling that captured the cultural heritage of the community. “This event has opened our eyes to a new era of possibilities,” exclaimed community elder Mr. Babatunde. Engaging panel discussions provided insights into how AI can revolutionize education, commerce, and traditional crafts. Interactive booths allowed participants to experiment with digital technologies, while experts emphasized the importance of ethical innovation. Tingo AI Radio’s status as the first AI radio in Africa lent a visionary edge to the proceedings, underlining its role as a trailblazer in merging advanced media with indigenous traditions. The day concluded with a shared sense of optimism and determination to embrace future opportunities that will bridge the gap between heritage and technology. This landmark event has set the stage for ongoing initiatives aimed at empowering local communities through digital transformation.

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Police kill abductors of former AIG Hakeem Odumosu’s wife, recover ransom

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Operatives of the Nigeria Police Force have killed the abductors of Folashade Odumosu, the wife of former Assistant Inspector General of Police, Hakeem Odumosu.

The Force Public Relations Officer, Olumuyiwa Adejobi, who disclosed this to Channels TV on Thursday morning, said the victim also regained her freedom on Wednesday.

The retired AIG’s wife was kidnapped last Thursday at the entrance of her residence in Arepo, Owode Local Government Area of Ogun State.

Society Reporters learned that the Ogun State Commissioner of Police, Lanre Ogunlowo, led the operation that rescued the retired AIG’s wife.

The kidnappers whisked the victim through a swampy area to an unknown destination after dragging her out of her SUV.

Giving an update on the matter, Adejobi said the operatives also recovered the ransom paid to the kidnappers as bait.

However, he refused to disclose the amount paid to the kidnappers or where exactly the victim was rescued.

 

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ENHANCING PUBLIC SAFETY AND SECURITY: THE HALO TRUST AND US GOVERNMENT PARTNER TO PROVIDE AMMUNITION HANDLING AND ACCOUNTING TRAINING AT IKEJA LAGOS.

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The Nigeria Police Force Explosive Ordnance Disposal – Chemical Biological Radiological and Nuclear (NPF EOD-CBRN) has successfully completed the first batch of training for 19 personnel on Ammunition Handling and Accounting Course. The training, held in Ikeja, Lagos, from December 3-20, 2024, was organized by The HALO Trust and sponsored by the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs.

According to The HALO Trust’s Country Director for Nigeria, Prince Ganiyu Otunba, this training is part of aholistic NPF-HALO developed project aimed at supporting personnel capacity building, addressing equipment needs, and enhancing the operational readiness of the NPF EOD-CBRN Command to mitigate explosive ordnance threats in Nigeria. A second batch of 22 personnel is scheduled to undergo the same training in January.

The Inspector General of Police, IGP Kayode Adeolu Egbetokun PhD, NPM, through the CP EOD–CBRN CP Patrick Atayeroexpressed gratitude to the Bureau of International Narcotics and Law Enforcement Affairs andThe Trust HALO for their support.

The training aimed to equip NPF EOD-CBRN personnel with the knowledge, skills, and best practices necessary to handle and account for ammunition and explosives safely and securely. The course also focused on ensuring proper accounting and record-keeping, preventing theft and diversion, reducing the risk of unplanned explosions at munitions sites, and promoting international best practices.

The NPF appreciates the support provided by the United States government, which will have a profoundly positive impact on the society.

CP Patrick Atayero emphasized the importance of responsible ammunition management in preventing the proliferation of illicit weapons and reducing the risk of unplanned explosions at munitions sites. He urged all stakeholders to collaborate with the Police in efforts to prevent the diversion, misuse, and unauthorized handling of explosive and other hazardous materials.

About HALO

The HALO Trust is the world’s largest humanitarian organization engaged in the field of Mine Action and weapons and ammunition management. With over 35 years’ experience, The HALO Trust is the most experienced organization in the field of Weapons and Ammunition Management, rehabilitating and constructing armouries and ammunition stores to international standards, disposing of unsafe and unserviceable weapons and ammunition, and building national capacity to allow for the safe, accountable and secure management and control of weapons and ammunition.

The HALO Trust presently implements Mine Action and weapons and ammunition management projects in 30 countries and territories. In 2024, HALO trained a total of 106 Nigeria security forces personnel in weapons and ammunition management.

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