How ministers fraudulently transfered N1.5bn from Ministry’s account to fund Jonathan’s campaign 

An investigator with the Economic and Financial Crimes Commission ( EFCC )  Shiabu Shehu on Monday told a Federal High Court, Lagos, how two ex-Ministers and others transferred the sum of N 1.5 billion from the Impress account of Ministry of External Affairs with Central Bank of Nigeria ( CBN ) to fund political campaign of former President Goodluck Jonathan, in 2015. Shehu who was the third EFCC’s witness in the ongoing trial of former Minister of State for Finance, Mrs. Esther Nenadi Usman under Jonathan, former Minister of Aviation,…

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Integrated Microfinance Bank MD, Akinteye convicted of $166m fraud

A Federal High Court, Lagos, on Monday, convicted former managing director of the defunct Integrated Microfinance Bank Limited, Mr. Simon Ademola Akinteye over $166.9 million fraud. The court presided over by Justice Cecilia Mojisola Olatoregun, convicted the former bank’s boss after found him guilty of all the nine counts charge bordering on reckless granting of loans without collateral, leveled against him by the Department of Public Prosecution (DPP), Federal Ministry of Justice. The court however discharged and acquitted his deputy, Gabriel Adepoju, who was charged on one count charge of unlawful…

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It’s painful testifying against Fayose -Obanikoro

The N2.2bn fraud trial of the immediate past Ekiti State Governor, Mr Ayodele Fayose, resumed on Monday with his former ally and former Minister of State for Defence, Musiliu Obanikoro, testifying against him. However, while being cross-examined by the second defence counsel, Mr Olalekan Ojo (SAN), Obanikoro told the court that he was testifying against Fayose reluctantly, noting that they enjoyed a good relationship while they were both members of the Peoples Democratic Party. Obanikoro has since defected from the PDP to the ruling All Progressives Congress, while Fayose remains…

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