MTN Nigeria backed by group shareholders to drag NCC to court

ITRealms:

MTN Nigeria was backed by the group’s shareholder community to drag the Nigerian Communications Commission (NCC) to a Federal High Court in Lagos, reports ITRealms.

Investigations by ITRealms revealed that further to the announcement issued by the company via the Johannesburg Stock Exchange (JSE) on 4 December 2015, shareholders were advised that all factors having a bearing on the matter have been thoroughly and carefully considered including a review of the circumstances leading to the fine and the subsequent letters received from the Nigerian Communications Commission (NCC).

Also, ITRealms reports that MTN Nigeria acting on legal advice has resolved that the manner of the imposition of the fine and the quantum thereof is not in accordance with the NCC’s powers under the Nigerian Communications Act and therefore there are valid grounds upon which to challenge the fine.

MTN, thus insisted it has followed due process and has instructed its lawyers to proceed with an action in the Federal High Court in Lagos seeking the appropriate reliefs.

“MTN is advised that in the current circumstances in line with the lis pendens rule (pending legal action) the parties are enjoined to restrain from taking further action until the matter is finally determined. This is consistent with previous judicial decisions in Nigeria,” part of the advice read.

In addition, ITRealms reports that notwithstanding this action MTN would continue to engage with the Nigerian Communications Commission to try and ensure an amicable resolution in the best interests of the company, its stakeholders and the Nigerian authorities.
 

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Igbinedion heads to Appeal Court over money laundry judgement

ITRealms:

Mr. Mike Igbinedion, an aide to the former Edo State governor, Lucky Igbinedion has resolved to challenge his sentencing by Justice A.M. Liman of the Federal High Court in Benin City at the Appellate Court, reports ITRealms.

Sources close to Igbinedion, disclosed to ITRealms that the former Governor’s aide would be challenging the judgement of April 30, 2015 which fined him, Mike Igbinedion, the sum of N1,000,000.00 each on three counts or serve prison sentence of 2 years on each of the count.

ITRealms gathered that the outcome of the alleged politically motivated case has generating several reactions with some claiming that the judge played to the gallery with the kind of judgement and attendant fine on Michael Igbinedion.

The next step by Mike Igbinedion may not be unconnected to scores of advice from legal experts who described the judgement as malicious, especially considering the circumstances of his office as Personal Assistant to the Governor, a position that made it inevitable for him to handle cash well over N500, 000.00 allowed by the Money Laundry Act. 

The experts had also made references to the precedence of cases involving Femi Fani-Kayode, and the Lagos State House of Assembly Speaker and his Personal Assistant who were earlier found not guilty of the same offence, adding that there is urgent need for a review of the Nigerian justice system.

Going through the arguments of Michael Igbinedion’s lawyer, the experts argued, it is obviously clear that the Money Laundry Act was enacted specifically to checkmate activities of narcotic trafficking and may not have considered transactions, such as spending of security votes by the president or governors. 

Igbinedion’s lawyer had also submitted that the practice of cash payment was well established in the government and that Michael at that particular time acted as an agent of the government. 

A Public Affairs analyst, Mr. Orobosa Omo-Ojo, told newsmen that the trial and conviction of Michael Igbinedion amounts to jungle justice, when considered against the backdrop that he was never in any position in government, either as Commissioner, Special Adviser or Special Assistant, where money was budgeted or allocated to his office and thus misused or peculated. 

“His only crime is that he followed the laid down financial rules and regulations prescribed for the office of the Personal Assistant to the Governor, as well as implementing the statutory instructions of his Principal, the Governor,” Omo-Ojo said.

He further said that it is obvious that Mike is a victim of high stakes politics and that he was convicted on flimsy ridiculous counts. The Economic Financial Crimes Commission (EFCC) wanted to use the Igbinedion family as scapegoat in their illogical fight against corruption in Nigeria. They were vindictive and acted out a script. That explains why they went for a strict liability offense because they knew they had a bad and seriously flawed case.”

Mr Omo-Ojo, JP however called on the Nigerian Law Reform Commission to realize that the 1995 and 2004 Money Laundry Act is now out of tune with the reality of 2015 monetary system.

Isaac Oyimah/GEE 
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Money Laundering: EFCC docks Ohakim, Nyako and Son,

ITRealms:

The Economic and Financial Crimes Commission, EFCC, on Wednesday, July 8, 2015 arraigned two former state governors, Ikedi Ohakim of Imo State and Murtala Nyako of Adamawa State, before the Federal High Court, Abuja on charges bordering on corruption, abuse of office and money laundering, reports ITRealms.

Also, Nyako’s son, Abdul-Aziz, a serving senator, ITRealms gathered was docked alongside his father before Justice E. Chukwu of the Federal High Court, Abuja, on a 37 count charge bordering on criminal conspiracy, stealing, abuse of office and money laundering.

A press statement made available to ITRealms, Nyako and son in the company of Abubakar Aliyu and Zulkifikk Abba were charged over alleged various transactions conducted between 2011 and 2013 used five companies namely Blue Opal Nigeria limited, Serore Farms & Extension Limited, Pagoda Fortunes Limited, Towers Assets Management Limited and Crust Energy Limited to siphon over N15 billion from the Adamawa State coffers.

ITRealms reports that the arraignment came a few days after a Federal High Court sitting in Abuja declined to restrain the EFCC from arresting Nyako to stand trial for money laundering offences. Nyako was arrested and quizzed by the anti-graft agency June 1, 2015 shortly after he returned to the country from self-exile.  He had gone on self-exile after he was declared wanted by the EFCC on February 4, 2015.

One of the counts reads: “That you Murtala H. Nyako, Abdulaziz Nyako, Zulkfikik Abba, Abubakar Aliyu, Blue Opal Limited, Sebore Farms & Extension Limited, Pagoda Fortunes Limited, Tower Assets Management Limited and Crust Energy Limited between January and December 2013 within the jurisdiction of this Honourable Court did disguise the genuine origin of an aggregate sum of N6,366,280,000 (Six Billion, Three Hundred and Sixty-Six Million, Two Hundred and Eighty Thousand Naira), which sums you reasonably ought to have known to be proceeds of an unlawful act, to wit; moneys derived from the theft of Adamawa State Government’s funds.”

They pleaded not guilty when the 37 count charges were read to them.
Following their plea, counsel to EFCC, Aliyu Yusuf, asked the court for a date for commencement of trial, and to remand the accused persons in prison custody. He also notified the court that one of its witnesses was in court.

However, defence counsel, Kanu Agabi, SAN, urged the court for an adjournment in order for it to properly go through the charges, as it was served rather late by the prosecution.

Yusuf, thereafter, requested that the accused persons be remanded in prison custody. This was however, opposed by the defence counsel, who told the court that while a bail application for the accused persons had been filed, it would be proper for the accused persons to be held in EFCC custody.

Justice Chukwu thereafter adjourned to July 10, 2015 for hearing on the bail application, and ordered that the accused persons be remanded in EFCC custody.

 Similarly, Justice Ademola Adeniyi of the Federal High Court Abuja has adjourned till tomorrow July 9, hearing on the bail application of former Imo state governor, Ikedi Ohakim after he pleaded not guilty to a 3-count charge of money laundering. He was however remanded in EFCC custody.

The accused, who was arrested by operatives of the EFCC on Tuesday, July 7, 2015,  is being prosecuted , among other things, for making a cash payment to the tune of $2, 290,000.00 ( about N270,000,000.00) , for the purchase of a property at Plot No. 1098 Cadastral Zone A04, Asokoro District, otherwise known as No.60, Kwame Nkurumah Street, Asokoro, Abuja.

The amount is above the threshold approved for an individual going by the provisions of Section 1 of the Money Laundering (Prohibition) Act 2004.

He is also accused of deliberately neglecting to disclose all his assets in the declaration submitted to the Commission.

Count three of the charge reads:  “That you, Ikedi Ohakim, on or about the 26th of January, 2013 in Abuja within the jurisdiction of the Federal High Court, while under arrest for an offence under the Economic and Financial Crimes Commission Establishment Act, 2004 knowingly failed to make a full disclosure of your assets by not declaring your ownership of the property known and described as Plot No. 1098 Cadastral Zone A04, Asokoro District- it is also known as No.60, Kwame Nkurumah Street, Asokoro, Abuja and thereby committed an offence contrary to Section 27(3)(c) of the Economic and Financial Crimes Commission Establishment Act, 2004 and punishable under the same section”.

Though the accused pleaded not guilty to all the charges, the prosecution counsel, Festus Keyamo, had prayed the court to remand the accused person in prison custody pending trial, which was accepted by Justice Adeniyi who ordered the accused to be remanded in the EFCC Custody and adjourned hearing on the bail application to tomorrow, Thursday, July 9, 2015.

Ayo Aramide  +Remmy Nweke (ITRealms) 

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