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Court remands banker over N23.5m fraud in Port Harcourt

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Court remands banker over N23.5m fraud in Port Harcourt

Federal High Court sitting in Port Harcourt, Rivers State has remanded Fasiku Olusegun Rapheal, a banker and former staff of First City Monument Bank, FCMB in custody for alleged fraud and counterfeiting to N23,500,000.00

Justice P. I. Ajoku of Federal High court presiding over the case remanded the banker in custody

The defendant was arraigned by the Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, March 27, 2023, on a 6-count charge..

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One of the counts reads: “That you, Fasiku Olusegun Raphael on or about the 11th of June, 2021, at Port Harcourt, Rivers State within the jurisdiction of this Honourable Court whilst you were staff of First City Monument Bank Plc stole the sum N10, 040, 000, 00 only.

Property of Esther Imade Ehire and thereby committed an Offense punishable under Section 390 of the Criminal Code Act, Cap. C38 of the Revised Edition (Laws of the Federation of Nigeria) 2004 read together with Section 1 (1) (b) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Bank Act Cap B3 of the Revised Edition (Laws of the Federation of Nigeria) 2004″.

Another count reads, “That you, Fasiku Olusegun Raphael on or about the 13th of December, 2021, at Port Harcourt, Rivers State within the jurisdiction of this Honourable Court, whilst you were staff of First City Monument Bank Plc stole the sum of N8, 000, 000, 00 only property of Okoye Peter Ikechukwu’ and thereby committed an Offense punishable under Section 390 of the Criminal Code Act, Cap. C38 of the Revised Edition

“Laws of the Federation of Nigeria) 2004 read together with Section 1(1) (b) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Bank Act Cap. B3 of the Revised Edition (Laws of the Federation of Nigeria) 2004”.

The defendant pleaded “not guilty” to all the charges,The prosecution counsel, E. K. Bakam pleaded and asked for a date for the commencement of trial and prayed that the defendant be remanded.

Counsel to the defendant, V. U. Uzorchukwu did not oppose the prayers by the prosecution.

Justice Ajoku ordered that the defendant be remanded in the custody of the prosecution and the matter was adjourned till July 13, 2023 for commencement of trial.

The defendant ran into trouble when the Commission received a petition against him for allegedly stealing the sum of N23, 500,000.00 meant for fixed deposit which he converted.

Court remands banker over N23.5m fraud in Port Harcourt

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N70,000 Wage Not Solution to Economic Issues

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N70,000 Wage Not Solution to Economic Issues

N70,000 Wage Not Solution to Economic Issues

By Halima Abdulkadiri

Chairman of the Labour Party (LP) in Oyo State, Sadiq Atayese, has stated that the newly-approved N70,000 minimum wage for Nigerian workers is not the solution to the country’s economic challenges.

Atayese made this assertion in an interview with the News Agency of Nigeria (NAN) on Sunday in Ibadan.

He emphasized that sustainable solutions to the cost of living require positive economic policies from the government. Atayese highlighted the exchange rate as a key factor influencing fuel costs and subsidies.

He stressed that the government must prioritize fighting corruption and implementing policies beyond just increasing the minimum wage. According to Atayese, corruption in high places accounts for over 90 percent of corruption cases in Nigeria.

“Will this new minimum wage actually assuage the daily rising costs of foods and services? Can it bring a stable solution to the nation’s economic challenges? The answer is No,” he said.

Atayese also urged the government to focus on agricultural development and address issues such as security and funding for effective farming. He believes that addressing these critical issues would have more significant benefits than even a minimum wage of N150,000.

“Labour Party will continue to stand for the wellbeing of the people and development of the society,” he said.

The Federal Government and labor unions recently agreed on N70,000 as the new minimum wage for Nigerian workers. Initially, the government proposed N60,000, which was raised to N62,000, while labor demanded N494,000 before revising it to N250,000. Labor leaders agreed to the N70,000 offer due to additional incentives attached.

N70,000 Wage Not Solution to Economic Issues

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Nigerian Army Reinforces Ban on Camouflage Misuse

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Nigerian Army Reinforces Ban on Camouflage Misuse

Nigerian Army Reinforces Ban on Camouflage Misuse

By Halima Abdulkadiri

The Nigerian Army (NA) has reiterated that the ban on the unauthorized use of military camouflage remains in full effect.

The Director of Army Public Relations, Maj.-Gen. Onyema Nwachukwu, emphasized this in a statement on Sunday while addressing a video showing a soldier harassing a civilian for wearing an Army Desert Camouflage uniform.

Nwachukwu clarified that the footage is an old video being circulated by individuals with malicious intent to create tension between the military and civilians.

He stated that only personnel of the Armed Forces of Nigeria and the Nigeria Police Force are legally permitted to wear military camouflage.

Nwachukwu explained that the regulation is necessary because terrorists, insurgents, and impostors have exploited the misuse of military camouflage to commit crimes, posing a significant security threat.

“The Nigerian Army remains committed to upholding the law and ensuring the safety and security of all citizens.

“We urge the public to disregard the re-circulated video and remain vigilant against attempts to sow discord and tension within the country.

“The incident in question occurred in 2021, and the army took immediate and decisive action at that time.

“The soldier involved was arrested, tried, and appropriately punished for his unacceptable behavior, which violated the core values of the Nigerian Army, particularly the respect for others and their fundamental rights,” he said.

Nigerian Army Reinforces Ban on Camouflage Misuse

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Hisbah Destroys N60m Alcohol, Drugs in Katsina

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Hisbah Destroys N60m Alcohol, Drugs in Katsina

Hisbah Destroys N60m Alcohol, Drugs in Katsina

By Halima Abdulkadiri

The Katsina State Hisbah Board has destroyed alcohol and other illicit drugs worth N60 million in Funtua Local Government Area (LGA) of the state.

Dr. Aminu Usman, the Hisbah Commander in the state, disclosed this to newsmen on Sunday.

According to Usman, no fewer than 1,750 crates of alcohol and about 33 jerry cans of locally-brewed beer were recently seized and destroyed in Funtua.

Usman explained that this effort is part of their mandate to ensure good morals among the people in the state.

He commended the board’s officials for their dedication and urged them to redouble their commitment.

He also sought the support of religious leaders, emphasizing that Hisbah does not belong to any particular group or sect. Usman praised Gov. Dikko Radda for his full support in helping the board discharge its responsibilities.

Usman appealed to the public for genuine information on places where immoral behaviors are committed. He called on parents, teachers, and community leaders to intensify efforts in instilling discipline and good morals among youths in their communities.

Hisbah Destroys N60m Alcohol, Drugs in Katsina

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