News
Court Sends Former Bank Chief to Prison for Using Customer’s N219m for Houses, Ponzi Schemes
Economic and Financial Crimes Commission (EFCC) on Tuesday secured the conviction of a former manager with Sterling Bank.
Oliver Anidiobi, the convict, was the account relationship officer of OHHA Microfinance Bank.
Justice C. O. Ajah of the Enugu State High Court in Enugu sentenced him after a 32-count charge prosecution.
The charges bordered on forgery and stealing to the tune of N219million.
The defendant, arraigned on Tuesday May, 7, 2019, used his position to convince the Microfinance Bank to deposit the said sum through him.
He put the money in a fixed deposit account and forged a deposit certificate to deceive the microfinance bank, while he diverted the funds for personal use.
Anidiobi built a block of 5 flats, acquired several plots of land along the Enugu-Port Harcourt Expressway, an uncompleted four bedroom bungalow at Centenary Estate, Enugu.
He further made an investment of N65million in a Ponzi Scheme called “Let’s Partner with You” owned by one Patrick Nwokike.
Michael Ani, prosecution counsel presented 5 witnesses and tendered 75 exhibits while the defendant testified for himself.
Justice Ajah held that Anidiobi did not deny nor challenge the allegations made by the EFCC.
“Any evidence not challenged is admitted as true. I am duty bound to establish the evidence presented by the prosecution. The evidence is strong and compelling to grant conviction”, he said.
The judge sentenced Oliver Anidiobi to 4 years imprisonment on counts 1-14 without an option of fine; 4 years on counts 15-17 and 8 years on counts 28-32 without an option of fine. The sentences are to run concurrently.
The court further ruled that an estate valuer is to evaluate Anidiobi’s properties at his village, Centenary City and Premier Layout, New Artisan, Enugu.
This will help determine their value so that they can be sold and the proceeds paid in restitution to OHHA Microfinance Bank.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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