Connect with us

News

EFCC Arraigns TSTV, Executives over Alleged Tax Evasion, 419

Published

on

Kindly share this post

Federal government has dragged two top executives of Telecom Satellites Limited (TSTV), to court over alleged tax evasion, money laundering and advanced fee fraud offences.

EFCC Arraigns TSTV, Executives over Alleged Tax Evasion, 419

The accused are Dr Bright Ikechukwu Echefu, managing director and chief executive officer of TSTV and Dr Felix Nnamdi Ignoanuga said to be the executive director of the telecom satellites company.

They were put on trial at the federal high court in Abuja, alongside TSTV and another company, Briechberg Investment Limited by the Economic and Financial Crimes Commission (EFCC), on 9-count criminal charges.

Part of the charges are that the two men on May 18, 2020, committed money laundering bordering on tax evasion, unremitted VAT, Company income tax and Pay As You Earn (PAYE), deducted from the salaries of 165 workers punishable under section 15 of the Money Laundering Prohibition Act 2011 as amended in 2012.

They were alleged to have on May 18, 2020, diverted to their personal use N33. 9M, N13. 5M and N19. 4M tax money payable to the federal government in breach of section 15 of the Money Laundering Prohibition Act.

On his part alone, Dr Bright Ikechukwu Echefu who is the first accused person was alleged to have defrauded Turaki Kabir Tanimu, SAN, of N960 million under false pretences.

The charge indicated that Echefu while acting as the managing director of Briechberg Investment Limited on May 18, 2020, with intent to defraud obtained the sum of N150m from Tanimu who is the Managing Director of Kalsiyam Farm as a loan to acquire modern equipment for his telecom company.

The money was said to have been paid into Briechberg Investment Limited account number 1015561485 domicile at Zenith Bank.

On the same day, the accused person was said to have obtained another N380m paid into the same account for the same purpose while another N400m was also allegedly secured by the accused the same day and for the same purpose from Tanimu who is also the MD of BYI General and paid into the same account.

Still on the same May 18, 2020, Turaki SAN, while acting as Managing Director of K. T Turake made two payments of N15M each into the Briechberg Investment Limited bank account belonging to Dr Bright Ikechukwu Echefu for the same purpose.

It will be recalled that Turaki Kabir Tanimu SAN was at a time, a Minister of the Federal Republic of Nigeria and was physically present in court during Thursday’s arraignment of the defendants.

When the charges were read to them, the two accused persons denied the alleged fraud charges.

Sylvanus Tahir, a Senior Advocate of Nigeria who led the prosecution team vehemently objected to the bail application made by Eyitayo Fatigun, SAN on behalf of the two defendants.

While Tahir insisted that the accused persons are flight risks having allegedly been evading arrest, Fatigun disagreed and insisted that EFCC itself granted them administrative bail.

In a short ruling, Justice Inyang Edem Ekwo adopted the EFCC bail conditions to allow the two men go home.

The Judge, however, ordered them not to travel out of the country without the permission of the court while the immigration must be notified of the seizure of their international passports.

He warned that any breach of the bail conditions or absence in court would automatically lead to revocation of their bail and to remain in custody throughout the trial period.

Justice Ekwo directed the EFCC to transmit the record of administrative bail granted to the defendants to the court within seven days.

Meanwhile, July 15, 16 and 17 have been fixed for the commencement of trial.

 

 

 

 

 


Kindly share this post

News

INEC Warns of Fake Ad-hoc Staff Recruitment Portal

Published

on

Kindly share this post

Independent National Electoral Commission (INEC) has raised alarm about a fake and unauthorized website falsely claiming to be an “INEC Ad-hoc Staff Recruitment Portal 2026.”

INEC Warns of Fake Ad-hoc Staff Recruitment Portal

The Commission raised the alarm in a statement published on its website late Tuesday.

It identified the fake recruitment website as okripeti.org/Inec-ADhoc-Sta…

The Commission affirmed that the website is fake and not affiliated with the it in any way.

“Members of the public are advised that any information, statistics, or application forms on this website are false, misleading, and intended to deceive unsuspecting applicants.”

It also advised anyone who has already registered on the fake portal to discontinue immediately and reapply only through the official INEC links provided above.

“INEC remains committed to transparency, credibility, and the protection of the public from fraudulent activities,” the Commission said.

The Commission also said it conducts Ad-hoc Staff recruitment ONLY through its official platform known as INECPRES.

It listed the only authentic links for the 2026 FCT Area Council Election Ad-hoc Staff recruitment as: •🌐 Web & iOS: pres.inecnigeria.org •📱 Android (Mobile App): presmobile.inecnigeria.org

It added that any other website or link outside the above is not authorized by INEC.

It thereforfore advised prospective applicants to verify all recruitment information using INEC’s official websites, not to click or register on suspicious or unofficial links
not to submit personal details (BVN, passwords, OTPs, or bank details) on non-INEC platforms and to always check that the URL ends with inecnigeria.org


Kindly share this post
Continue Reading

News

NRS Boss Dismisses Fears of Political Weaponisation in Tax Reforms

Published

on

Kindly share this post

Dr. Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), has allayed fears that the new tax reform framework could be weaponised by the Federal Government to target political opponents or individuals based on affiliation.

NRS Boss Dismisses Fears of Political Weaponisation in Tax Reforms

Dr. Zacch Adedeji

Adedeji, responding to concerns over potential selective enforcement or politically motivated tax scrutiny, insisted the reforms prioritise national interest, transparency, due process, and institutional accountability.

Addressing speculations on suppressing opposition voices ahead of elections, he said: “I think the question you will ask is that we need to commend the courage of Mr. President, that despite the fact that there is an election coming, he is courageous enough to continue on this path of statesmanship and not of politicians.”

The NRS boss explained that it would have been politically expedient to shelve the reforms during an election cycle, but President Bola Tinubu opted to strengthen the country’s fiscal foundation and economic governance.

He outlined that the agenda targets structural tax system weaknesses, enhances fairness, and fosters a simplified, predictable compliance environment to boost voluntary participation over coercion.

Adedeji attributed public scepticism to Nigeria’s history of perceived institutional misuse, but stressed the new framework minimises administrative discretion through rule-based processes, automation, accountability, and governance safeguards insulated from political influence.

According to him, the reforms emphasise taxpayer trust, linking taxes to visible public service improvements while expanding growth opportunities and sustainable public finances.

He reaffirmed the focus on economic stability, credible institutions, phased implementation, investment support, vulnerable group protection, and freedom from partisan interference.


Kindly share this post
Continue Reading

News

Court Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank

Published

on

jail.jpg
Kindly share this post

An Ikeja Special Offences and Domestic Violence Court on Monday sentenced Olawale Faleti, a former Lagos State Education director, to two years and five months’ imprisonment for stealing ₦48.9 million from Access Bank Plc.

Court Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank

Justice Rahman Oshodi convicted Faleti, 64, on five counts of stealing after finding him guilty of charges filed by the Economic and Financial Crimes Commission (EFCC).

In his judgment, Oshodi said the offence was deliberate and sustained, noting that Faleti carried out repeated withdrawals despite knowing he had no authorisation to access the funds.

The judge added that the convict failed to show genuine remorse or fully accept responsibility for his actions.

“Financial institutions are the lifeblood of our economy and public confidence in them must be preserved,” Oshodi said, adding that “Those who attempt to defraud or steal from banks must understand that severe consequences will follow.”

While acknowledging Faleti as a first-time offender, the court said a custodial sentence was unavoidable.

The judge applied a 20 per cent reduction from the three-year maximum sentence, citing minimal restitution efforts as a mitigating factor.

Faleti was sentenced to two years and five months’ imprisonment on each of the five counts, with the sentences ordered to run concurrently.

The court directed that the sentence take effect from January 5, 2026, and ordered that Faleti’s biometric details and name be entered into the Lagos State Judiciary offenders’ registry.

After deducting ₦3 million already restituted, the court ordered Faleti to pay an outstanding ₦45.9 million to Access Bank Plc, directing the bank to notify the court upon full recovery of the funds.

Earlier, Mr Ahmed Dambuwa, EFCC counsel, told the court that Faleti dishonestly converted ₦48.9 million belonging to the bank by exploiting unauthorised access to an Access Bank credit card.

He said the card permitted withdrawals of not less than ₦43,000 per transaction, but a system glitch enabled Faleti to withdraw about ₦48 million during the COVID-19 pandemic in 2020.

One of the charges stated that between July 2 and July 10, 2020, Faleti converted ₦12.6 million for personal use, while another alleged that between May 22 and July 1, 2020, he converted ₦6.9 million, all property of Access Bank Plc.

The offences were said to contravene Section 287(1)(a) of the Criminal Law of Lagos State, 2015.


Kindly share this post
Continue Reading

Trending