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Good morning! Here Are Some Major News Headlines In The Newspapers Today: CBN prohibits use of foreign currency collateral for Naira loans

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1. The Central Bank of Nigeria, CBN, has prohibited the use of foreign currency, FCY as collateral for Naira loans. This directive, contained in a circular by Acting Director of the Banking Supervision Department, Adetona S. Adedeji, represents a significant shift in the CBN’s approach to loan collateralization.

 

2. Sultan of Sokoto, His Eminence, Alh. Muhammad Sa’ad Abubakar, has declared Wednesday as Eid-il-fitr. A statement on Monday by the Deputy Secretary General of NSCIA, Prof Salisu Shehu said fasting continues on Tuesday.

3. Federal Capital Territory, FCT, Minister Nyesom Wike on Monday shut down the International Conference Centre, ICC, for eight months for lack of maintenance. The minister, who announced this after inspecting the facility, cancelled all events and activities booked at the venue.

 

4. A notorious bandit who terrorized sections of Katsina and Zamfara states has reportedly been killed by a rival gang. Reliable sources from Batsari local government of Katsina State told Daily Trust that the bandit known as Dangote was killed in the early hours of Sunday.

READ  CBN makes U-turn, increases cash withdrawal limit after public outburst

 

5. The Economic and Financial Crimes Commission, EFCC, says it has recovered N30 billion in the alleged money laundering case against the suspended Minister of Humanitarian Affairs, Betta Edu, and the ministry. It also revealed that 50 bank accounts were currently being investigated.

 

6. UAE carrier, Emirates, is expected to resume its flights to Nigeria in June this year, the federal government has hinted. This is coming almost two years after the airline suspended flights to Nigeria over issues bothering on trapped funds, among others.

 

7. The Edo State House of Assembly on Monday impeached the embattled state deputy governor, Philip Shaibu following the adoption of the report of the seven-man investigative panel set up by the state Chief Judge to probe allegations of misconduct against him.

 

8. A Federal High Court in Abuja has stopped a former Chairman of the Peoples Democratic Party, PDP, Uche Secondus, from participating in the party’s meetings pending the determination of a motion on notice. Also, the National Chairman, the Secretary of the Party, the National Executive Council, and the Board of Trustees were ordered not to allow Secondus to attend any of its meetings until the suit is determined.

READ  Kaduna confirms airport attack by terrorists

 

9. Gunmen dressed in army uniform reportedly abducted a popular ex-militant leader, High Chief Sobomabo Jackrich, aka Egberipapa, from his Usokun country home in Degema Local Government Area of Rivers State. Sources said the gunmen stormed his home around 3:00 am on Monday, killed two of his lieutenants and took him away to an unknown place.

 

10. The Lagos State Special Offences Court in Ikeja, on Monday, sent back the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, to the custody of the Economic and Financial Crimes Commission. Justice Rahman Oshodi made the remand order shortly after the anti-graft agency arraigned Emefiele on 23 counts bordering on “abuse of office, accepting gratifications, corrupt demand, among others.

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Emefiele collected $600k kickback in cash from contractors, former CBN director tells court

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John Ikechukwu Ayoh, a former director at the Central Bank of Nigeria (CBN), has testified against Godwin Emefiele, ex-governor of the apex bank, in the ongoing case of abuse of office at the Lagos high court.

 

Emefiele and his co-defendant, Henry Omoile, are currently facing trial on a 26-count charge.

 

The former CBN governor and Omoile pleaded not guilty to all the charges.

 

At the court proceedings on Monday, the Economic and Financial Crimes Commission (EFCC) presented Ayoh as the second witness in the case against Emefiele.

 

Ayoh told the court that he worked at the apex bank from June 2014 to April 2019 noting that he did not work directly under Emefiele.

 

Ayoh added that he used to report to Adebayo Adelabu, a former deputy governor of CBN, who is now the minister of power.

 

The witness said he was the head of procurement and support services (PSS) of the apex bank, which was vested with powers to receive bids and select successful bidders.

READ  CBN to release re-designed Naira notes December

 

The former CBN director said he collected money from contractors as gratification of awarding contracts to them based on the instruction from Emefiele.

 

The witness said Emefiele usually sends his personal assistant (PA) — John Adetona — to collect the contractors’ kickback from him.

 

Ayoh said he collected $400,000 and $200,000 in cash from contractors on two different occasions and handed them over to Emefiele’s PA.

 

“The first transaction was $400,000 and the second one was $200,000 in cash. I was in my house when the first envelope was brought to me. His assistant was asked to collect the money,” he told the court.

“One of the vendors had a contract with CBN which involved the implementation of data storage and infrastructure.

 

“The first package was collected in my residence at Lekki phase one, while the second package was collected at the head office in Lagos.”

 

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During cross-examination by Olalekan Ojo, counsel to Emefiele, Ayoh said he was under duress from the former CBN to accept gratifications on his behalf.

 

“No, I was under duress from my boss (referring to Emefiele). We were faced with tremendous pressure to bend the rule,” the witness said when asked about aiding the commission of a crime by collecting the money.

 

Asked if he indicated in his statement with the EFCC that the money was meant to influence the award of contracts, the witness said some parts of his statement implied that.

 

“Who told you that it (the money) is for gratification,” Emefiele’s counsel asked.

“The cash is for gratification to the governor for awarding the contracts. He (Emefiele) asked for it. He won’t approve the contract without gratification,” the witness said.

 

On whether he was arrested by the EFCC, the witness said the anti-graft agency invited him and was granted bail afterwards.

READ  Adeboye knocks FG over over plan to redesign naira

 

Emefiele’s counsel told the court that the witness must have traded being charged by the EFCC to become a witness against the former CBN boss.

 

INTERIM BAIL

After the cross-examination of the witness, Emefiele’s counsel sought a fresh interim bail for the former CBN governor, pending the fulfilment of the bail conditions earlier stipulated by the court.

 

Ojo told the court that the initial interim bail granted to Emefiele ended today (Monday), adding that the defence team has not been able to meet the bail conditions.

 

He urged the court to grant Emefiele another interim bail that would end on May 17.

 

Rahman Oshodi, the presiding judge, granted the request and ordered that Ojo swear to an affidavit to provide Emefiele in the next adjourned date.

 

Oshodi adjourned to May 3, 9, and 17 for the continuation of the trial.

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Dark Sunday: 19 people burnt to death in Okene-Lokoja highway auto crash

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Nineteen people were, on Sunday, burnt to death in an auto crash along the Okene-Lokoja highway in Kogi state.

 

In a statement by Jonas Agwu, its public education officer, the Federal Road Safety Corps (FRSC) said the accident involved a Dangote truck with registration details NSH680YJ and a Toyota Hiace bus with registration number KMC455ZE.

 

According to the FRSC, both vehicles suffered a head-on collision after a route violation by the truck, resulting in an inferno.

 

The agency said out of the all-male 22 passengers involved in the accident, three were rescued.

 

“The TYT bus loaded from Kano was on its lane on the highway when the Dangote Truck driver who drove all the way from Port Harcourt wrongfully overtook a vehicle & collided head-on with the bus. The impact of the collision resulted in an inferno that burnt the victims to death,” the statement reads.

 

“Unfortunately, 19 people out of the 22 victims were killed and 1 injured. The remaining 2 victims who got rescued by FRSC operatives without injuries survived the crash because they complied with traffic regulations on compulsory use of seatbelt.

READ  CBN to release re-designed Naira notes December

 

“The corpses of the dead victims whose lives were claimed by the crash have been deposited at Okene General Hospital.”

 

Dauda Biu, the FRSC corps marshal, said the agency will continue its ongoing prosecution of drivers “who by their actions cause road traffic crashes in Nigeria”.

 

Biu further called on the judiciary and leadership of transport unions and other relevant stakeholders in the road transportation sector to join hands with the corps to ensure speedy and effective prosecution of offenders.

 

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Man trying to escape arrest drowns in Lagos Lagoon

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A man, simply identified as Azeez, has allegedly jumped into the lagoon in Lagos and drowned while trying to evade arrest for stealing some bags of cement.

The Spokesperson of the Police Command in Lagos, SP Benjamin Hundeyin, confirmed this on Sunday.

 

Hundeyin said that the Director in charge of Lagos State Emergency Management Agency (LASEMA) operations in Lagos Central, (name not mentioned), reported the case to Ikoyi Police Division on Friday at about 12.20 p.m.

Hundeyin said that the director reported that at about 10.45 a.m. on Friday, he received a call that there was an incident at Lekki/Ikoyi Link Bridge.

 

According to him, on getting to the scene, he met a large crowd gathered by the waterside, watching the lifeless body of a man who had drowned.

“The deceased was later identified as Azeez. He was later confirmed dead by paramedics of Pre Hospital Care, Lagos.

 

“It was discovered that one Elijah Amos, the seller of the cement, was pursuing the deceased before he jumped into the Lagoon because he was alleged to have stolen some bags of cement,” Hundeyin said.

READ  CBN must obey s’court ruling on old naira notes - Falana

 

Hundeyin said that the scene was visited by the police, while the corpse had been evacuated to Mainland General Hospital Mortuary, Yaba, for autopsy and preservation.

 

He added that an investigation into the case was in progress.

 

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