INEC reiterates calls for Electoral Offences Tribunal - ITREALMS

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The Independent National Electoral Commission (INEC) has reiterated calls for the establishment of an Electoral Offences Tribunal (EOT) reports ITREALMS.

The Commission’s Chairman, Prof. Mahmood Yakubu made the latest appeal at the first quarterly consultative meeting with the Media, held at the INEC Headquarters, Abuja on February 7, 2025.

Tribunal: INEC @liberty to prescribe transmission of poll results - ITREALMS

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The Presidential Election Petitions Court PEPC has ruled that the Independent National Electoral Commission (INEC) was at liberty to decide the mode of transmission of election results during the presidential election on February 25, 2023.

The five-man panel led on by Justice Haruna Tsammani said Wednesday that Sections 52 and 65 of the Electoral Act 2022, INEC was at liberty to prescribe the manner in which election results were transmitted during the poll.

2023 Presidential Election: Timi Frank tasks tribunal on life transmission, put Nigeria first - ITREALMS

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The former deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has called on the Presidential Election Petition Tribunal (PEPT) to transmit its proceedings live and put Nigeria first, reports ITREALMS.

A press statement personally endorsed by him in Abuja, and made available to ITREALMS on Thursday, Frank said, this has become imperative to ensure transparency and openness in the conduct of the tribunal.

Gov. Adeleke hails overwhelming rejection of tribunal verdict by Osun people - ITREALMS

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Following days of massive protests and demonstrations across Osun State, Governor Ademola Adeleke has expressed appreciation to the people of the state for their passionate show of love and rejection of the Kangaroo judgement of the governorship tribunal.

Reacting to protests of support and rejection of the judgement from the 30 local governments and the Area Council, Governor Adeleke in a personally signed statement expressed delight at the reaffirmation of popular support for his governorship mandate, assuring the people that "the popular mandate will not be stolen either through front or backdoor.

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

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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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