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Africa’s Richest Woman, Isabel Dos Santos Charged With Fraud

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Isabel dos Santos, Africa’s richest woman has been charged with fraud which took place during her stewardship of state-owned oil firm Sonangol.

Angola’s billionaire former first daughter Isabel dos Santo’s has been charged in the southern African country with money laundering and mismanagement during her stewardship of state-owned oil firm Sonangol, the Angolan prosecutor general announced on Wednesday.

Hundreds of thousands of files about dos Santo’s were obtained by the International Consortium of Investigative Journalists (ICIJ) and released by several news organisations on Sunday, dubbed the “Luanda Leaks”. They allege the daughter of ex-president José Eduardo dos Santos plundered state coffers to build her fortune, estimated at $2.1 billion (€1.82 billion).

“Isabel dos Santo’s is accused of mismanagement and embezzlement of funds during her tenure at Sonangol and is thus charged in the first instance with the crimes of money laundering, influence peddling, harmful management…forgery of documents, among other economic crimes,” prosecutor general Helder Pitta Gros told a news conference late Wednesday.

Portuguese news agency Lusa quoted Pitta Gros as saying that dos Santos had not directly shown any interest in collaborating with Angolan authorities. “At the moment, the concern is to notify and get them to voluntarily come to justice,” he added.

Dos Santos, who was chairwoman of Sonangol from June 2016 to November 2017 and amassed her fortune during her father’s decades-long presidency, could not immediately be reached for comment but has denied wrongdoing.

Investigations were opened after her successor Carlos Saturnino raised the alarm about “irregular money transfers” and other dodgy procedures.

Dubbed Africa’s richest woman, dos Santos is accused of using her father’s backing to plunder state funds from the oil-rich but poor African country, and of building her business empire by moving the money abroad with the help of Western firms, including transfers between Angola and Dubai.

Pitta Gros said dos Santos was among five suspects, all of whom were currently residing abroad.

Stakes held in major Portuguese companies

In Portugal, dos Santos holds significant stakes in several major firms including NOS and oil firm Galp Energia. Soon after the Angolan prosecutor’s announcement, dos Santos announced her decision to sell her stake in Portuguese bank Eurobic, the small lender said on Wednesday.

Dos Santos is Eurobic’s main shareholder but the bank said she had decided to withdraw from its shareholding structure and sell her stake. In a statement sent to Reuters, Eurobic said the selling process of the 42.5% stake had already started and dos Santos’s decision was “final”.

A spokeswoman for Portugal’s public prosecutor’s office confirmed to Reuters that Angola’s Pitta Gros and Portugal’s attorney general, Lucilia Gago, will meet in Lisbon on Thursday. She did not say what they will discuss.

Frozen assets in Angola

She stopped living in Angola after her father, who ruled the country with an iron fist for nearly 40 years, stepped down in 2017 for his anointed successor João Lourenço.

Angolan authorities froze Isabel dos Santos’s assets in the African country in late December following allegations by prosecutors that she and her husband Sindika Dokolo had steered payments of more than $1 billion from state companies Sonangol and Sodiam to firms in which they held stakes. Dos Santos and Dokolo denied wrong doing.

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Senator Ifeanyi Ubah dies at 52

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The Senator representing Anambra South in the National Assembly, Ifeanyi Ubah, is dead.

Ubah, who was the Chief Executive Officer of Capital Oil, was said to have died in a hotel in London, the United Kingdom, on Saturday.

He would have been 53 on September 3.

Senate spokesperson, Yemi Adaramodu, confirmed Ubah’s death to our correspondent on Saturday.

He said, “It’s confirmed, but I am sending an official statement soon.”

Ubah, who was re-elected into the 10th Senate under the Young Peoples Party, had last year defected to the All Progressive Congress.

In September 2022, Ubah escaped assassination when he was attacked by gunmen on his way to Nnewi in Enugwu-Ukwu in Anambra State.

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JUST IN: Edo state Assembly impeaches Deputy Governor Shaibu

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The Edo State House of Assembly, on Monday, impeached the state’s Deputy governor, Comrade Philip Shaibu.

The impeachment followed the adoption of the report of the seven-man investigative panel set up by the Assembly to probe allegations of misconduct against Shaibu.

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JUST IN: Olubadan of Ibadanland, Oba Lekan Balogun joins ancestors at 81

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The Olubadan of Ibadanland, Oba Lekan Balogun has joined his ancestors after a brief illness.

He joined his ancestors at the age of 81.

It was gathered that the late monarch was taken to the hospital Wednesday morning having stayed indoor throughout Tuesday on account of slight malaria fever, though, he was hail and hearty on Monday during which he personally received few guests that paid him congratulatory visits on his second year anniversary on that day.

Making this announcement was the Baba-Kekere Olubadan and his younger brother, Dr Kola Balogun in a statement by the Personal Assistant (Media) to the late monarch, Oladele Ogunsola.

According to the statement, Dr. Balogun disclosed that Oba Balogun would be buried at his Aliiwo ancestral home by 4.00pm on Friday according to Islamic rites just as he said that the State Governor Seyi Makinde, though already verbally informed, would be formally notified early in the morning.

The late Olubadan was the first most educated to have emerged as Ibadan monarch, a British trained P.hd holder, a former university lecturer, former member of management staff of Shell British Petroleum, former gubernatorial candidate of the defunct Nigeria People’s Party, NPP, former Senator and a successful business man.

His last official outing was the Olubadan Advisory Council’s meeting which he presided over last Saturday where the decision to derobed Mogaji Akinsola, Olawale Oladoja was taken.

He however, on Tuesday instructed the Ekerin Olubadan, Oba Hamidu Ajibade to midwife a small committee to deliberate on last Friday’s decision on what should be the position of Ibadan Zone in the proposed newly reconstituted Oyo State Council of Obas and Chiefs.

The decision of the small committee was earlier on Thursday ratified by the Olubadan Advisory Council at a meeting presided over by Otun Olubadan and the former governor of Oyo State, High Chief Rashidi Ladoja and was to be taken to the late Oba Balogun for his signature Friday morning so as to meet the deadline for submission to the state Commissioner for Local Government and Chieftaincy Matters later in the day.

The late Olubadan is survived by wives, children and grandchildren.

Announcing the passage of the monarch, Governor Makinde, in a statement, stated that Olubadan, who joined his ancestors late Thursday evening at the University College Hospital, UCH, Ibadan, described him as an epitome of royal excellence and a great achiever, who made great marks on Ibadanland in just a little over two years of his reign.

He expressed his condolences to the Olubadan-in-Council, the Oyo State Traditional Council and the people of Ibadanland and Oyo State, praying to God to grant repose to the soul of the deceased monarch.

Makinde said: “With total submission to the will of God, I announce the passing unto glory of our father, His Imperial Majesty, Oba Dr. Mohood Lekan Balogun, Alli Okunmade II, the 42nd Olubadan of Ibadanland.

“A mighty Iroko has fallen; Oba Dr. Balogun has joined the ancestors.

“In Kabiyesi, Ibadanland had a cosmopolitan and well-experienced Olubadan, who made indelible marks on the sands of history and achieved greatly within a short while.

“On behalf of the Government and good People of Oyo State, I condole with the immediate family of the Oba Dr. Balogun, the Olubadan-in-Council, the Oyo State Traditional Council and the people of Ibadanland.

“It is my prayer that God grants repose to the soul of our late monarch.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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