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We Must Prosecute Wike, Predecessors for Economic Crimes – EFCC

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The Economic and Financial Crimes Commission (EFCC) yesterday expressed its determination to prosecute Rivers State Governor, Mr. Nyesom Wike as well as his predecessors, Mr. Chibuike Amaechi and Dr. Peter Odili, notwithstanding the perpetual court injunction restraining it from doing so.

EFCC acting Chairman, Mr. Ibrahim Magu, told reporters in Port Harcourt that the restraining order would not stand.

He also listed the state as second only to Lagos in money laundering.

Magu spoke against the backdrop of a petition aimed at stopping the ambition of Odili who was clearly the frontrunner in the Peoples Democratic Party (PDP) presidential primaries in December 2006, on the premises of which the then EFCC Chairman, Nuhu Ribadu, arrested the then commissioner for finance and other top officials.

The petitioner had alleged that Odili as governor misappropriated N100 billion belonging to the state.

This led the state government to institute a suit against the anti-graft agency to challenge its powers to investigate the state, saying that only the state House of Assembly is constitutionally vested with such powers.

The state government also challenged the EFCC powers and got subsisting judgments of the High Court of Rivers State and the Federal High Court barring the EFCC from investigating the finances of the state.

Justice Peter Agumagu of the Rivers State High Court on February 16, 2007, said by the combined effects of section 125 subsections (2), (5) and (6) of the 1999 Constitution, it was the Rivers State House of Assembly that had the final say on matters pertaining to the funds of the state as laid before it by the Auditor-General’s audit report of all public accounts and the Accountant-General’s financial statements and published annual accounts.

When the EFCC rejected the judgment because it was delivered by a state high court, the case was again filed at the Federal High Court where Justice Ibrahim Buba in line with the tenor of the judgment of the state High Court after upholding the judgment, made specific injunctive orders in its judgment delivered on March 20, 2007, restraining the EFCC from arresting Odili.More in Home

On the judgment restraining the commission from investigating and prosecuting Rivers governors on financial crimes, Magu said: “Nothing is going to stop us; even the issue of the court order allegedly obtained by Dr. Peter Odili and co to stop the EFCC from investigation and prosecution has been overtaken by events even though the matter is still at the Supreme Court.

“I am telling you that that judgment cannot stand; it will only take some time. It cannot hold and we are going to conclude the investigation. There are so many investigations we are doing; we will take it before the court; let the court refuse to prosecute their case. I am sure the matter has suffered for about 13 years now. We are going to test it. The matter is in the Supreme Court. We will follow it up.”

He stated that the court judgment restraining the commission from prosecuting the state governors had been overtaken by events and other declarations, adding that nothing would stop the commission again.

“That decision that is pending in the Supreme Court does not actually hold water again. There are subsequent judgments that have discarded it. Clearly, there are other judgments that came up and said nobody, not even the judge, not even the judiciary, not even the court can stop us from investigating and prosecuting,” he added.

Magu also identified Rivers State as the second capital of money laundering in Nigeria, after Lagos.

The EFCC boss, who said the commission would leave nothing unturned to track and expose crimes in the country, noted that the reason for the rate of money laundering crime in Rivers State was because of the nature of its oil business terrain.

He said: “I think Rivers State is next to Lagos in terms of crime. This is the headquarters of money laundering because there is a lot of oil money here. I think you can rate Port Harcourt the second to maybe Lagos when you talk of people playing with sinking, diving, hiding, maybe because of the large space of oil deals.”

On the achievements of the commission last year, Magu said the EFCC had “gotten about three conviction of governors who are presently cooling off in the prison” while 1,245 convictions were recorded last year.

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EFCC: Former Governor Of Kogi State, Yahaya Bello Fails To Show Up In Court, Says He Is Scared Of Arrest

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The embattled immediate past Governor of Kogi state, Yahaya Bello, says he would have appeared at the Federal High Court in Abuja to answer to the 19-count charge preferred against him by the Economic and Financial Crimes Commission, EFCC, but is afraid he would be arrested.

Though Bello was absent for his arraignment today April 23, His team of lawyers addressed the court on his behalf.

A member of his legal team, Adeola Adedipe, SAN, had this to say on his behalf;

“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe, SAN, submitted.

Adesipe then appealed to the court to set aside the exparte order of arrest it earlier issued against the former governor. The lawyer contended that as at the time the order of arrest was made, the charge had not been served on his client as required by the law.

He argued that it was only at the resumed proceedings on Tuesday that the court okayed substituted service of the charge on the defendant, through his lawyer.

“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning. A warrant of arrest should not be hanging on his neck when we leave this court,” counsel to the defendant added.

According to him, the Federal Government did not consult the 36 States of the federation before it enacted the EFCC Act through the National Assembly. He argued that section 12 of the 1999 Constitution, as amended, required the various Houses of Assembly of states to ratify the Act before it could become operative.

“This is a very serious matter that borders on the constitution and the tenets of federalism. It has to be resolved because as it stands, the EFCC is an illegal organization,” Bello’s lawyer added

However, EFCC’s lawyer, Mr. Kemi Pinheiro, SAN, urged the court to refuse the application, insisting that the warrant of arrest should not be set aside until the defendant makes himself available for his trial.

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Nigeria Has Secured $2.25B World Bank Loan With An Interest Rate Of 1% – Minister Of Finance

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The minister of Finance and coordinating minister of the economy, Wale Edun has announced that Nigeria has secured a $2.25bn World Bank loan with a 1% interest rate.

While speaking at the annual meetings of the International Monetary Fund (IMF) and World Bank Group on April 20, Edun disclosed that the loan was approved by the board of directors of the World Bank, and offers a 40-year term, a 10-year moratorium, and a one percent interest rate.

He said;

“If you look at the fact that we have qualified for the processing, just this week to the board of directors of the World Bank of a total package of $2.25 billion.

“There is no such thing as a free lunch but it is the closest you can get to free money. It is virtually a grant. It is about 40 years, 10 years moratorium and about one percent interest. That also is part of the flow that you can count.”

He added that Nigeria also secured similar budgetary support and low-interest funding from the African Development Bank (AfDB). Edun said;

“Clearly, there are also ongoing discussions with foreign direct investors. Some of these things take longer than you expect but they are relatively advanced discussions on major foreign direct investments flows into the country, specific transactions with specific companies, institutions, and authorities.”

This news has however stirred different reactions from citizens as not everyone agrees with the idea of Nigeria borrowing money.

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Update On How Bobrisky Is Treated In Prison – Top Official Discloses

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Top official of the Nigerian Correctional Service has given an update on how crossdresser, Bobrisky is being treated in prison.

Recall that Bobrisky was handed a six-month prison sentence over naira abuse. While sentencing him, Justice Abimbola Awogboro of the Federal High Court in Lagos, said the judgment would be a deterrent to others who are found abusing and mutilating the naira.

An official of the prison who spoke to Punch said the crossdresser was taken to prison after the judgement and he was examined at the point of admission. It was also stated that no realignment of gender or genital organ was discovered as his male biological features were the same.

The source told the publication;

“Bobrisky made a public declaration that he was a male and court proceedings are public records. Every inmate brought into a facility during admission is examined. He was equally examined and no realignment of gender or genital organ was discovered. The male biological features were the same.

“After that, a cell was allocated to him, and he had a certain number of inmates with him. A bed space was also allotted to him. It is just like a boarding house where your housemaster will issue you your personal belongings.

“When it is time for class, he attends. When it is time for food, he will go and get his portion. The same goes with prep and light out. He observes all these without preference. He has been going about his business just like other inmates since he was brought in here.

“He is not getting any five-star treatment and is not being protected from anybody. He follows the same rules and regulations just like every other inmate. Single cells of isolation cells are to prevent outbreaks of communicable diseases.

” In a male prison, homosexuality is outlawed and it is a grievous offence. Sodomy or homosexuality, is frowned upon here in the custodial centre. So any inmate that tries to violate him will face the law.”

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