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GEJ’s Cousin, Others Accused of Diverting $40m meant for Communication Kits

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Justice Nnamdi Dimgba of the Federal High Court sitting in Maitama, Abuja has adjourned to July 7, 2017 the trial of a cousin to former President Goodluck Jonathan, Azibaola Robert; his wife, Stella and their company, One Plus Holdings.

The judge adjourned the trial after a stunning revelation by the tenth prosecution witness, David Nkpe, on how One Plus shared to various companies the sum of $40 million received from the Office of the National Security Adviser (ONSA).

Azibaola and his co-accused allegedly diverted $40 million purportedly meant for supply of Tactical Communication kits for Special Forces which was transferred from the account of the ONSA with the Central Bank of Nigeria (CBN) to the domiciliary account of their company, One Plus Holdings.

At the resumed sitting yesterday, Nkpe told the court that analysis of documents relating to ‘One Plus Holdings Nigeria Ltd’, showed that the company received the sum of $40 million from ONSA.

According to him, investigation was extended to ONSA to ascertain the purpose for which the payment was made.

“EFCC wrote to ONSA to avail them with documents regarding the payment mandate and the reply came”, Nkpe said.

According to him, the payment for that particular mandate was for the “Supply of Tactical Communication Kits for Special Forces”.

He went on: “We investigated the utilisation of the funds and discovered that the funds were transferred to other companies including Bureau de Change and some of the funds transferred offshore to countries like London and United Arab Emirates”.

Asked if he could recall some of the beneficiaries, Nkpe said that, “there were several of them, but I remember that $6.6 million was transferred to a company called ‘Karahyna’ between October 2014 and April 2015, which was specifically done in eight tranches. I also recall that the sum of $1.5 million was transferred to ‘Reya Telecommunication’ which is a company under One Plus Holdings group.

He added that, “Another sum of $1.493million was transferred to ‘Kakatar El Ltd’ which is also a company under One Plus Holdings; a sum of $2 million was transferred to ‘Capitafield Investment Ltd’ and another $330,000 transferred to a company called ‘Teledom’.”

The PW10 told the court that investigation did not find any tactical communication kits procured from that fund. “Most of the companies that received the money did not supply any goods”, he said.

The witness said that the analysis carried out on the account of the third defendant (One Plus Holdings) on September 9, 2014 showed that the $40m was the only major inflow into the account and from the time of that receipt, all the transactions in the account were outflows, which is the distribution of the said $40m.

He said the credit balance in the account before the transaction was $17,277.50.

Thereafter, documents were presented and admitted as exhibits including: petition from the ONSA to EFCC as exhibit ASO 16 (1&2), Search warrant dated March 23, 2016; two power of attorney as exhibit ASO 18a &18b; Deed of Assignment as exhibit ASO 19a, 19b, 19c; transfer mandate from One Plus Holdings to Zenith Bank as ASO 20 (1-39); the two statement of the first defendant dated March 23 & 24, 2016 marked as exhibit ASO 21a & ASO 21b

Justice Dimgba, thereafter, adjourned for cross-examination of the prosecution witness.


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CWG Board of Directors Approves 400% Increase in Dividend Payout

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CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.

This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.

Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”

This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.

As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.


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Prof. Aliyu, AI Practitioner to Keynote ABoICT 2024

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CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.

 

Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.

This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.

The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.

According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.

He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.

“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.

A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.

He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.

Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.

He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.

Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.

Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.

Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.


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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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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.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

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.

 

 

 

 

 

 

 

 

 


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