News
Court Discharges, Acquits Usoro, Ex-NBA Boss of N1.4B Fraud Charge
A Federal High Court sitting in Lagos on Friday discharged and acquitted Paul Usoro SAN, foremost telecom lawyer and immediate past President of the Nigerian Barr Association (NBA) of the N1.4billion money laundering charge filed against him by the Economic and Financial Crimes Commission (EFCC).
Justice Rilwan Aikawa held the anti-graft agency failed to establish any prima facie case against Usoro that could warrant him to enter a defence.
The judge made the decision while ruling on Usoro’s “no case” submission.
He noted that the penal code, under which the NBA chieftain was charged, is not applicable to southern states, i.e Lagos and Akwa-Ibom, which were said to be the locations of the alleged offences.
“On the whole, I hold that the prosecution has failed to establish any prima facie case.
“Accordingly, the defendant is hereby discharged and acquitted,” Justice Aikawa held.
The defendant had on February 25, filed a no case submission where Effiong O. Effiong SAN, his counsel contended that the EFCC called only two witnesses and closed its case because, according to him, it knew it didn’t have any case against the defendants.
The EFCC had on February 18 closed its case after calling two witnesses.
Effiong prayed the court to allow the no-case submission.
But Rotimi Oyedepo, prosecution counsel opposed his prayer.
Oyedepo prayed the court to dismiss the no-case submission, citing the “overwhelming evidence” he said the EFCC had adduced and exhibits admitted in evidence.
He also asked the court to order the defendant to enter his defence.
The agency arraigned Usoro on December 18, 2018 before Justice Muslim Hassan on a 10-count charge.
He pleaded not guilty to all the counts.
The case was transferred to and the lawyer was subsequently re-arraigned before Justice Aikawa on a charge marked FHC/418c/18, which alleged that he committed the offence on May 14, 2016.
Also mentioned in the charge, was Emmanuel Udom, governor of Akwa Ibom State, who was described as being “currently constitutionally immune from prosecution”.
Others are Nsikan Nkan, Akwa Ibom Commissioner for Finance; Mfon Udomah, accountant-general of Akwa Ibom State; Uwemedimo Nwoko, Akwa Ibom attorney-general; and Margaret Ukpe.
The aforementioned names were described in the charge as being at large.
But on July 17, 2020 the Court of Appeal sitting in Lagos struck out four of the 10-count N1.4billion money laundering charge which particularly alluded to the governor’s involvement in the alleged crime.
Thus, Udom was excluded from the proceedings.
In what was left of the charge, Usoro was alleged to have conspired to convert the sum of N1.4 billion, property of Akwa Ibom State Government, which sum they reasonably ought to have known formed part of the proceeds of an unlawful activity.
In his testimony before the court, Abdulrahman Arabo, an EFCC investigating officer said that Udom hired Usoro who, in turn, invited other SANs to join him at the Election Tribunal where his victory was being challenged in 2015.
The EFFC witness also testified the sum of N1.4 billion legal fee paid to the SANs was drawn from the treasury of the Akwa Ibom State’s account.
Usoro vigorously denied involvement in any crime.
News
NIMASA, BOI Partner to Grow Capacity In Maritime Sector
Nigerian Maritime Administration and Safety Agency (NIMASA) and the Bank of Industry (BOI) have initiated discussions on strategies for capacity building in the maritime industry.
Dr. Dayo Mobereola, Director General of NIMASA, represented by the Executive Director of Maritime Labour and Cabotage Services, Mr. Jibril Abba disclosed this during a visit by the management of the bank led by Executive Director of Large Enterprises, Mrs. Ifeoma Uz’Okpala.
Osagie Edward, the agency’s Head of Public Relations, said in a statement that in addition to safety, security and maritime labour, the agency’s mandate encompasses capacity development aimed at growing the sector.
Also, Mobereola explained that NIMASA’s commitment to collaboration was a vital tool for achieving its mandate.
He said: “The aim is to actualise the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy.”
Also, Uz’Okpala affirmed the bank’s readiness to support NIMASA, emphasising the importance of collaboration in implementing a robust capacity-building initiative that would contribute to economic growth in Nigeria.
She noted: “Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation. It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80 per cent), the Central Bank of Nigeria (CBN) (5.19 per cent) and private shareholders (0.01 per cent).
News
FG VAT Collection Up 9.11% to N1.56tn
The federal government’s aggregate receipt of the Value Added Tax (VAT) in Q2 2024, stood at N1.56 trillion, indicating a growth rate of 9.11 per cent on a quarter-on-quarter (QoQ) basis from N1.43 trillion in Q1 2024.
The figure represents a 99.82 per cent increase compared to the N781.35 billion collected in the corresponding quarter of last year.
According to numbers released by the Nigeria Bureau of Statistics (NBS), On a quarter-on-quarter basis, the Q2 VAT rose by 9.11 per cent from N1.43 trillion in Q1 2024.
The data showed that local VAT payments recorded were N792.58 billion, foreign VAT payments stood at N395.74 billion, while import VAT contributed N372.95 billion in Q2 2024.
Analysis of the NBS numbers showed that human health and social work activities recorded the highest growth rate with 98.44 per cent, followed by agriculture, forestry and fishing with 70.26 per cent, and water supply, sewerage, waste management and remediation activities with 59.75 per cent.
Contrarily, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use had the lowest growth rate with –46.84 per cent, followed by real estate activities with –42.59 per cent.
In terms of sectoral contributions, the top three largest shares in Q2 2024 were manufacturing with 11.78 per cent; information and communication with 9.02 per cent; and mining and quarrying with 8.79 per cent.
“Nevertheless, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00 percent, followed by activities of extraterritorial organisations and bodies with 0.01 per cent; and water supply, sewerage, waste management and remediation activities with and Real Estate Services 0.04 per cent each.
“However, on a year-on-year basis, VAT collections in Q2 2024 increased by 99.82 per cent from Q2 2023,” NBS stated.
News
GOCOP Partners NCDMB, EMADEB, Dangote, NCAA, Setraco, UBA, NCC, Others for 2024 Conference
Partners for the eighth annual conference of the Guild of Corporate Online Publishers (GOCOP) have begun to emerge with the Nigerian Content Development and Monitoring Board (NCDMB), Emadeb Group and Dangote Group leading the train of partners for the event slated for Thursday, October 3, 2024 at the Reverton Hotel, GRA Lokoja, Kogi State.
The chairman of the 2024 Conference Planning Committee, Danlami Nmodu, mni, also listed other partners to include Nigeria Civil Aviation Authority (NCAA), Setraco Nigeria Limited, United Bank for Africa (UBA) and Nigerian Communications Commission (NCC), according to a statement by
GOCOP Publicity Secretary, Sir Remmy Nweke.
Nmodu was also quoted as saying that the eighth conference would center on the theme: “Nigeria: Tackling Insecurity, Power Deficit, and Transitioning to Digital Economy” and will hold on Thursday, October 3, 2024 from 10am. The keynote will be delivered by former governor of Cross River State, Senator Liyle Imoke.
Read Also: Imoke, Buratai, Maida, others to headline GOCOP 2024 conference in Kogi
Additional partners for 2024, he said, comprised the Nigerian Safety Investigation Bureau, Access Bank plc, Zenith Bank plc, First City Monument Bank (FCMB), Fidelity Bank plc, Sovereign Trust Insurance Plc (STI), Nigerians in Diaspora Commission (NIDCOM) and National Film and Video Censors Board (NFVCB).
A major highlight of this year’s conference, Nmodu said, is a business luncheon with GOCOP partners on Wednesday, 2 October, at the same venue, while the conference itself would hold on Thursday, October 3.
Nmodu noted that the 8th edition would be chaired by former Nigeria’s Ambassador to Spain, Alhaji Yusuf Mamman, with the former Nigerian Chief of Army Staff, Lt-General Tukur Yusuf Buratai (Retd) and the Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Aminu Maida as Guest Speakers, while a Professor of Political Science at the Federal University Lokoja, Prof. Rotimi Ajayi and an edutainment communicator and veteran broadcaster, Ms Debrah M. Ogazuma are panellists.
Nmodu recalled that GOCOP conference 2023 was chaired by the JAMB Registrar and Chief Executive, Prof Ishaq Olarenwaju Oloyede, while the first Nigerian Professor of Capital Market, Prof. Uchenna Joseph Uwaleke was the keynote speaker.
Previous speakers at the annual conference consisted of Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto who delivered the 2019 lecture on “Economy, Security and National Development: The Way Forward.”
In 2021, Mr. Boss Mustapha, Secretary to the Government of the Federation, keynoted the Conference in his capacity as Chairman of the Presidential Task Force on Covid-19. He spoke on: “Post Covid-19 Pandemic: Recovery and Reconstruction in Nigeria.”
In 2022, Professor Mahmood Yakubu, Chairman, Independent National Electoral Commission, delivered the keynote entitled “2023 Elections: Managing the Process for Credible Outcome.”
GOCOP was established to ensure that online publishers uphold the tenets of journalism.
Membership of the Guild is a constellation of editors and senior journalists who, having distinguished themselves in their various positions in the print and electronic media, ventured into online publishing which is both the present and future of journalism globally.
The Guild has over 104 corporate publishers as members.
- E-Financial2 days ago
Court Freezes N548.6m of Nigerian Crypto Users over Naira Fluctuation
- Telecom2 days ago
Huawei’s Tri-Foldable Phone Stirs Chinese Pride but $2,800 Price Tag Panned
- E-Business1 day ago
Four Nigerian Start-ups Selected for NBA Africa Startup Accelerator’ Demo Day
- E-Financial2 days ago
UBA Appoints Nweke, Deputy Managing Director
- Telecom2 days ago
MTN, Accenture Conclude OpenRAN Trial as It Eyes Network Shift
- Telecom2 days ago
Starlink Boosts Traffic for Rural Nigerian Cell Sites 45 Percent – AMN
- News2 days ago
#StartupSouth to Hold 9th Conference on October 3-4 in Port Harcourt
- E-Business2 days ago
Private Malware to Ransomware-as-a-Service: the Rise of Mallox