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ICPC to arraign ex-CEO of Federal Mortgage Bank, others over alleged $65 million real estate fraud in Abuja



The Independent Corrupt Practices and Other Related Offences Commission (ICPC) will arraign a former Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Kumo Yau for allegedly awarding a $65,000,000 real estate contract to an allegedly incompetent firm, Good Earth Power Nigeria Limited in 2012.

This is contained in ICPC’s charge sheet marked FHC/ABJ/CR/333/24, and filed on July 9, 2024, by  Dr. Osuobeni Ekoi Akponimisingha,  Assistant Chief Legal Officer, ICPC. 

Yau, Bola Ogunsola, Mr.Tarry Rufus, Good Earth Power Nigeria Limited and T.brend Fortunes Limited are sued before the Federal High Court, Abuja for their alleged contravention of the Public Enterprises Regulatory Commission Act and Section 19 of the Money Laundering (Prevention and Prohibition) Act, 2022.

In the five-count charge obtained by Nairametrics on Wednesday, the anti-graft agency accused Yau of making payment to Good Earth Power Nigeria Limited in the sum of N3,785,000,000.00 out of the total contract sum of $65,000,000, for the development of 962 Units of Residential Housing in Kubwa, Abuja named “Goodluck Jonathan Legacy City” contrary to accepted practice. 

The ICPC maintains that the former bank CEO allegedly contributed to his organisation’s failure at the time by approving $65,000,000 to a firm that could not carry out and complete the real estate project. 

The allegations stated that Mr. Gimba Kumo Yau and Bola Ogunsola, in their roles as  Chief Executive Officer and Executive Director of the bank in August 2012, had secured a loan of N14 billion from Ecobank Nigeria PLC on behalf of the bank. 

This loan was said to be earmarked for the development and completion of 962 residential housing units in Kubwa, Abuja, named “Goodluck Jonathan Legacy City,”  within 18 months. 

ICPC further alleged that Mr. Gimba Kumo Yau, as the bank’s CEO awarded the $65 million contract despite knowing that the company lacked the capacity to carry out the contract.

ICPC added that the project remains incomplete as of today thereby amounting to “economic adversity” for the bank and in violation of Section 68(1) of the Public Enterprise Regulatory Commission Act, CAP P39, Laws of the Federation, 2004.

The other defendants were accused of giving and receiving $3,550,000.00 of the contract sum in cash in contravention of the Money Laundering Act. 

Tarry Rufus, Good Earth Power Nigeria Limited and T-Brend Fortunes Limited were accused of directly converting the sum of N991,399,255 into $3,550,000.00 and handing over the same to one Jason Rosamond (now at large) in cash, contrary to Section 18(2) (b) and punishable under Section 18 (a) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

The Public Enterprise Regulatory Commission Act forbids an official from taking steps that will cause an enterprise to fail, with penalties involving jail terms. 

It was gathered that a date had not been fixed for arraignment.

The defendants are innocent in the eyes of the law unless proven guilty by the courts.

Kumo’s lawyer, Barrister Okpara Orji confirmed to Nairametrics that his client was invited by anti-graft agencies some years back but was allegedly exonerated by its top investigators.

“The EFCC investigated the matter and they could not find anything linking Kumo.

“He was declared wanted by ICPC and we threatened to sue. They called him and pleaded; we have all those records,” Orji said.

Orji then alleged that the federal government institution was using a political witch hunt against his client.

“If they file any charge, immediately the matter is dismissed, we are going file for malicious prosecution because there is nothing linking Gimba in that matter.

“The director, of legal in ICPC, Henry Emore had said there is no charge against this man. So if they file any charge now, it is of political interest,” the lawyer claimed.


Abuja man protesting hardship on mast released on bail




The Federal Capital Territory Police Command said a man identified as Shuaibu Yushau, who was arrested on July 8 for attempted suicide, had been released on bail to his lawyer, Deji Adeyanju.

The FCT Police Command’s spokesperson, Josephine Adeh, in a statement on on Friday, said Yushau’s release followed a mental assessment conducted by the FCTA SDS.

She said, although the assessment report indicated that he is mentally stable, symptoms of anxiety, persistent worry, and fears were observed in the course of profiling him.

Adeh added that the FCTA SDS recommended that the suspect be allowed to report weekly to their office for further psycho-social care and support, hence the reason for admitting him to bail.

She wrote, “On Thursday, July 18, 2024, the FCT police command released Alhaji Yushau Shuaibu on bail to his lawyer, Deji Adeyanju. Shuaibu who was arrested for climbing the Aso Radio mast. He was referred to the FCTA SDS for a mental assessment, which found him mentally stable.

“However symptoms of anxiety, persistent worry, and fears were noted during his profiling. The SDS recommended that he receive further psycho-social care and support, which contributed to the decision to release him on bail.”

Shuaibu was arrested for climbing the Aso Radio mast in protest against insecurity and hardship in the country. He said he had been observing the mast for about a week before deciding to climb it.

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Doyin Okupe praises Ooni for reportedly bringing down foodstuffs prices in Ife




Doyin Okupe, the former Director-General of the Labour Party Presidential Campaign, has heaped praises on the Ooni of Ife, Oba Enitan Ogunwusi, for “bringing down the escalating prices of foodstuffs in his domain.”

According to Okupe, the monarch went out of his way to negotiate with market leaders in Ife.

He said after much deliberations and negotiations, the market leaders agreed to bring down the prices of common foodstuffs in their markets.

Commending the monarch’s initiative, the ex-presidential spokesperson, described the move as ‘exponentially ingenious’, adding that the effort curtailed excessive profiteering by greedy traders.

He tweeted, “The Oonirisa , Oba Enitan Adeyemi Ogunwusi, Ojaja II, has done something exponentially ingenious and commendable. He boldly and responsively intervened in bringing down the seemingly uncontrolled escalating prices of foodstuffs in his domain.

“He went out of his way to summon market leaders to meetings in his palace where after much deliberations and negotiations, traders agreed to bring down the prices of common foodstuffs in their markets.

“This way the excessive profiteering by greedy traders who wantingly exploited the masses was curtailed. In a chat with the Ooni this morning, he informed me that he is making serious efforts that this highly commendable initiative is replicated all over the southwest.”

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Lagos state government announces 90-day traffic diversion on Odo Iya Alaro Bridge




The Lagos State Government has announced a 90-day traffic diversion for motorists on the Odo Iya Alaro Bridge, which will commence on Monday, July 22, 2024.

According to a statement issued on Thursday, July 18, 2024, the Commissioner for Transportation, Mr. Oluwaseun Osiyemi stated that the diversion is due to the deplorable state of the asphalt pavement and expansion joints on the Odo Iya Alaro Bridge.

Osiyemi noted that the diversion would be done in two phases — the Ojota bound lane and the Yaba/Ojuelegba/Maryland bound lane, respectively. At the same time, alternative routes had been mapped out for each phase of the repairs.

The statement read, “For the first phase of the repairs, motorists heading to Ojota from Maryland/Yaba will be diverted into a counter flow on the lane inbound Maryland while motorists heading to Yaba from Ojota will continue their journeys on the same lane.

“Alternately, motorists from Berger, Magodo and Tollgate along Lagos-Ibadan Expressway are advised to go through the Alapere/Ogudu axis inward Gbagada/Anthony Oke Bridge to descend the ramp and access Ikorodu Road to continue their journeys.

“Motorists coming from Ikeja, Oregun and Kudirat Abiola Way are advised to use the Opebi Link Bridge to connect Mobolaji Bank Anthony Way inwards Sheraton through Maryland to access Ikorodu Road and navigate their ways.”

The statement also added that “motorists from Jibowu are advised to use the Ikorodu Road Service lane by Mobil Fuel Station/Bertola Engineering Equipment Company to access the Gbagada/Ogudu axis to continue their journeys.”

However, if the motorists “miss the turning by the Mobil Fuel Station and Bertola Engineering Equipment Company, they can also use Theodolite to link Anthony Oke Ramp and join Ikorodu Road again to access the Town Planning Way inward Gbagada/Ogudu/Alapere axis to proceed with their journeys.”

“Motorists from Jibowu heading to Ikeja, Magodo, Berger and Lagos Ibadan Expressway can use Maryland inwards Mobolaji Bank Anthony to link Sheraton/Opebi to Allen Avenue/Obafemi Awolowo Way and access Nurudeen Olowopopo Road to continue their journeys.

Alternatively, after going through the Opebi Link Bridge, they can also make use of Kudirat Abiola Way to access Ikosi Road inwards Mobolaji Johnson Avenue/7up to connect Nurudeen Olowopopo Road and access their desired destinations,” the statement read.

While explaining the second phase of the repair works, the commissioner noted that “motorists inward Maryland/Yaba from Ojota will be diverted into a counter flow on the lane inbound Ojota while motorists from Maryland will continue their journey on the same lane.”

For the alternative routes, motorists “from Berger, Magodo and Toll Gate can use Alapere inwards Gbagada to link the Anthony Oke Ramp to connect Ikorodu Road and access their desired destinations. Similarly, motorists coming from Ikorodu/ Ketu can utilise the Ojota Ramp Bridge to link Alapere and continue their journeys as explained above.

“Motorists from Ikeja, Oregun and Kudirat Abiola Way are advised to use the Opebi Link Bridge inwards Mobolaji Bank Anthony/Sheraton and come out at Maryland to enter Ikorodu Road and continue their journeys.”

“The aforementioned alternative routes for motorists heading to Ikeja, Magodo, Berger and Lagos-Ibadan Expressway from Jibowu during the first phase are also available during the second phase of the repairs,” the statement explained.

The Commissioner appealed to the public ” to cooperate with the interventions put in place during the repairs” as he assured that traffic management personnel would be on the ground to ensure a steady traffic flow.

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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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