Akande: Bindawa’s expertise'll strengthen NCC board - ITREALMS

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The chairman, governing board of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande has described the addition of Prof. Mansur Bindawa to the board as having the expertise to strengthen the activities of the commission leadership, reports ITREALMS.

Akande, who led Bindawa and other board members of the Commission to the Minister of Communications and Digital Economy, Isa Ali Pantami, for the inauguration of the latest board member as a non-executive commissioner at NCC, expressed appreciation to the Federal Government for deliberately “fortifying the Commission with intellectuals ready to work together for the advancement of the technological ecosystem.”

Tinubu, Akande condemn court case against Fayemi - ITREALMS Online

ITREALMS:

All Progressives Congress (APC) leaders in the South-west have restated their support for the party's gubernatorial candidate in the July 14 Ekiti Governorship election, Dr. Kayode Fayemi, and condemned a court case allegedly instituted by one of the defeated aspirants of the party in the state, Chief Segun Oni, reports ITRealms.

They said the decision to support Fayemi was reached through a combination of persuasion, reconciliation, consensus- building and understanding on the part of all the stakeholders, pointing out that they as leaders held several intervention meetings in Abuja, Lagos and Ekiti with all the APC Ekiti gubernatorial aspirants where they resolved to support whoever emerges from the party's primaries.

Condemning the court case which they described as spurious, the leaders asked those behind the court action to withdraw their case immediately "if they are within our party and not agents of PDP".

They also called on Segun Oni to come out publicly to dissociate himself from and condemn the case and play active role in the APC campaign.

The statement was signed by APC National Leader, Asiwaju Bola Tinubu, former Interim Chairman of the party, Chief Bisi Akande, the newly-elected APC Deputy National Chairman (South), Otunba Niyi Adebayo and the party's former National Vice Chairman, South-West, Chief Pius Akinyelure. 

Entitled "We Stand Behind Kayode Fayemi," the statement reads: "The Ekiti Governorship Election slated for July 14, 2018 is barely three weeks away and we all are committed to working for the total victory of the APC candidate, Dr. Kayode Fayemi. 

"The decision to support Kayode Fayemi was reached through a combination of persuasion, reconciliation, consensus- building and understanding on the part of all the stakeholders. We led several intervention meetings that held in Abuja, Lagos and Ekiti with all the APC Ekiti gubernatorial aspirants where we resolved to support whoever emerges from the May primaries.

"We have stood behind Kayode Fayemi’s candidacy since he won the governorship primaries and when we all gathered in Ekiti for the Mega Rally on June 19, it was an emphatic declaration of support for his candidacy. Again on the night of June 19, we as leaders met with all stakeholders including all former aspirants and commended them for not defecting from the party. They all emphasized their commitment and suggested that Kayode Fayemi run an effective and inclusive campaign that will ultimately lead to an all-inclusive government."

Ayo Midele/GEE

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Exonerated: Akande, Okoloko not party to Union Bank share scam -Tribunal

ITREALMS:

The duo of Onikepo Akande and Onajite Okoloko have been exonerated from the alleged shares scam perpetrated on behalf of Union Bank against its investors by the Investments and Securities Tribunal (IST), sitting in Abuja, reports ITRealms.

The Securities and Exchange Commission (SEC), ITRealms gathered, had dragged Union Bank and 21 other individuals comprising the Directors and Company Secretary who had served on the Board of the Bank between 2007 and 2008 before the Investments and Securities Tribunal.

ITRealms reports that the aggrieved Applicant, SEC had informed the Tribunal, that the 21 respondents engaged and/or participated in a scheme and or artifice that enabled Union Bank of Nigeria Plc to either directly or indirectly fund the purchase of its Shares and thereby retaining the beneficial ownership of the shares, and as a consequence, (i) violated or contributed to the violation of the provisions of the Investments and Securities Act and the rules and regulations made thereunder, (ii) undermined the fair and orderly conduct of the securities market, and (iii) abused, breached and undermined the integrity of the securities market;

SEC further informed that the Respondents unlawfully employed, (in connection with the purchase or sale of the securities of Union Bank of Nigeria, Plc) a device, scheme or artifice for the purpose of creating a false and misleading appearance of active trading of Union Bank securities and/or shares, which devise, scheme or artifice so employed by the Respondents herein, violated the provisions of the Investments and Securities Act and the rules and regulations made there under.

SEC further claimed that the Respondents undermined the regulatory and supervisory authority/activities of the Applicant, by ordering the appointment of KPMG Professional Services or any other reputable firm of accountants acceptable to the Tribunal for the purpose of undertaking an inquiry/investigation to determine (i) the extent and quantum of the losses suffered by investors in the securities market as a result of the unlawful activities of the Respondents outlined in this suit and (ii) the nature, extent and quantum of any direct benefit or advantage received or receivable by the Respondents as a result of the Respondents’ aforesaid unlawful activities.

But, in its decision, the Tribunal of Six (6) headed by Nnenna A. Orji ruled that the names of Onikepo Akande and Onajite Okoloko who had been originally sued as 19th and 20^th Respondents respectively, be struck out on the grounds that they were not yet Directors when the alleged infractions took place.

In the Suit listed as CASE NO. IST/LA/OA/20/2010, the Tribunal noted that the processes were amended to include both Onikepo Akande and Onajite Okoloko, who were appointed only after the infractions had taken place.

It would be recalled that some Directors of Union bank were involved in a share scam involving the purchase of Union Bank shares for itself to mislead the Public, using funds borrowed from two foreign financial houses totaling over N30bn between 2007 and 2008.

Uboshe Uboshe/GEE

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Tinubu, Akande visit unconnected with Obasanjo’s statement

ITREALMS:

The visit by the duo of Asiwaju Bola Tinubu and Chief Bisi Akande to the Presidential Villa on Tuesday, was not connected to the public statement credited to former president Olusegun Obasanjo, reports ITRealms.

According to Tunde Rahman of Tinubu Media Office, the truth is that the visit was initially scheduled last week.

“President Buhari periodically schedules talks with Asiwaju Tinubu and Baba Akande, as he does with other Nigerians and APC figures, to discuss substantive issues pertaining to the governance of the country and matters concerning the party,” he said.

He also explained that this Tuesday visit was one such meeting, insisting that the meeting had nothing to do with the statement of former President Obasanjo.

“It is totally unconnected. At the time of the meeting, Asiwaju Tinubu and Baba Akande were even unaware that President Obasanjo had released his statement,” he declared.

Chuks Egbune/GEE

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