Connect with us

News

Trial of Echefu, TStv MD, ED for Tax Evasion, Money Laundering Begins November 26

Published

on

Bright Echefu
Kindly share this post

Justice Inyang Edem Ekwo of the Federal High Court, Abuja, has fixed November 26 for the trial of Dr. Bright Ikechukwu Echefu and Dr. Felix Nnamdi Ignoanuga, said to be executives of the Telecom Satellites Television (TSTV), over fraudulent charges brought against them by the Federal Government.

Trial of Echefu, TStv MD, ED for Tax Evasion, Money Laundering Begins November 26

Echefu who is the managing director and chief executive officer and Dr Felix Nnamdi Ignoanuga, the executive eirector of the telecoms company, were arraigned by the Economic and Financial Crimes Commission (EFCC), on June 6, 2024, on nine count of alleged advanced fee fraud, tax evasion and money laundering.

The suit marked: FHC/ABJ/CR/254/23, had Telecom Satellites Limited and another company, Briechberg Investment Limited, also cited as 3rd and 4th defendants, respectively.

Justice Ekwo was supposed to have commenced trial of the defendants on July 15, 2024 but for an official engagement which took him out of Abuja.

The Registrar of the court had informed the lawyers, accused persons and other litigants that dates for their matters would be communicated to them by the Judge upon his return to Abuja.

In a notice of trial date communicated to the parties, Justice Ekwo said that November 26 has been scheduled for the EFCC to open their case against the defendants.

The November date was said to have been picked by the Judge following the yearly vacation of the Federal High that will end in October this year.

The EFCC, among other things, alleged that the defendants the two men had on May 18, 2020 committed money laundering bordering on tax invasion, 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 diverted to their personal use, tax funds, to the tune of N33. 9M, N13. 5M and N19. 4M, payable to the federal government in breach of section 15 of the Money Laundering Prohibition Act.

Alao, the EFCC alleged that they 1st defendant, Dr. Echefu, defrauded a Senior Advocate of Nigeria, SAN, Turaki Kabir Tanimu, of the sum of N960m 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 loan to acquire modern equipment for his telecom company.

EFCC added that the said loan was paid into Briechberg Investment Limited’s account number: 1015561485, domiciled 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.

As at the time the transactions took place, Turaki, SAN, who was present in court during the arraignment of the defendants, was a serving Minister of the Federal Republic of Nigeria.

It would be recalled however that the two accused persons pleaded not guilty when the charges were read to them.

Mr. Sylvanus Tahir, SAN, counsel to EFCC, applied for the defendants to be remanded in custody, however, following an application by their lawyer, Mr. Eyitayo Fatigun, SAN, the court okayed their release on administrative bail, earlier handed to them by the EFCC.

He, however, warned the defendant not to travel out of the country without the permission of the court, adding that the Nigerian Immigration Service, NIS, should be notified of the seizure of their international passports.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

News

Microsoft Revamps Copilot in Workplace AI Push

Published

on

Kindly share this post

Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


Kindly share this post
Continue Reading

News

Dangote Refinery Debunks Speculations on IPO

Published

on

Kindly share this post

Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

Dangote Refinery Debunks Speculations on IPO

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.

“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.

The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.


Kindly share this post
Continue Reading

News

Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

Published

on

Kindly share this post

In celebration of International Women’s Day, Descasio hosted an intimate executive brunch bringing together distinguished women leaders from its customer community for a thoughtful conversation on leadership, partnership, and shared growth.

Centered around the 2026 International Women’s Day theme, “Give to Gain,” the gathering created space for accomplished women in enterprise leadership to reflect on mentorship, collaboration, and investing in people as key drivers of sustainable growth.

Held in Lagos, the event convened leaders from organizations including Honeywell Group Limited, Finchglow Travels, NGCOM, and Eroton Exploration & Production Company.

Guests were personally welcomed at the start of the gathering by Mr. Dele Nedd, CEO of Descasio; who greeted each of the women leaders and expressed his appreciation for their presence before leaving the session to allow the women lead the conversation among themselves.

The gesture reflected Descasio’s leadership culture; one where women are not only recognized, but actively supported and empowered. It also underscored the company’s belief that meaningful progress in leadership requires partnership and allyship across the organization.

Rather than a traditional panel discussion, the brunch was designed as a candid and reflective exchange among peers navigating leadership in complex industries. Throughout the conversation, participants shared perspectives shaped by experience, responsibility, and the realities of leading teams and organizations.

A recurring theme in the discussion was the role of execution and accountability in leadership. For many organizations, strategy alone is not enough; consistent delivery is what ultimately builds credibility and trust.

Reflecting on this, Josephine Adebola, Data Compliance & Process Automation Manager at Finchglow Travels, emphasized the importance of reliability in leadership and the discipline required to translate vision into results. “Get it done on time and in full.

The conversation also explored the role of curiosity and continuous learning in shaping effective leaders. In rapidly evolving industries, the ability to ask questions, remain open to new perspectives, and keep learning is often what enables leaders to grow alongside their organizations.

Sharing her perspective, Tomi Otudeko, Chief Operating Officer at Honeywell Group Limited, reflected on how curiosity has shaped her leadership journey.

“Asking questions and continuously learning have always stood me in good stead as a leader.”

She also spoke about the importance of leading with empathy and understanding the people behind the roles within organizations.

“Everyone has multiple dimensions to who they are. Leadership has taught me to see people in their totality. That awareness doesn’t make a leader weak; it makes them more effective.”

Another important theme that emerged from the conversation was authenticity in leadership. In an environment where leaders often face pressure to conform to traditional expectations, remaining true to one’s identity while continuing to evolve is essential.

For Helen James-Eziashi, General Manager at NGCOM, authenticity and curiosity remain key guiding principles. “Be yourself, keep learning, and stay curious.”

The discussion also highlighted the role of self-awareness in sustaining leadership journeys, particularly in complex and high-responsibility environments. Understanding one’s values, motivations, and support systems often becomes the anchor that allows leaders to navigate uncertainty with confidence.

Reflecting on this, Ifeanyi Onyejekwe, IT Manager at Eroton, emphasized the importance of knowing what grounds a leader.

“Know who you are and understand what supports and sustains your leadership journey.”

According to Descasio, the event reflects its broader commitment to building strong partnerships and fostering meaningful leadership conversations across its enterprise customer community.

“For us, this was about more than marking International Women’s Day,” said Umama David-Ogebe, The HR Manager at Descasio. “It was about creating a space where leaders could learn from one another and reflect on the kind of leadership that builds strong organizations. The most meaningful partnerships grow from conversations like these.”

To extend the impact of the discussion, Descasio has published “The Give to Gain Leadership Report: Insights from Women Leading Enterprise Organizations,” a curated publication capturing key reflections and leadership lessons shared during the session.

The report highlights themes including:

  • The role of curiosity and continuous learning in leadership
    • Building stronger teams through empathy and accountability
    • The importance of authenticity and self-awareness in navigating leadership journeys
    • How investing in people drives stronger partnerships and resilient organizations

The Give to Gain Leadership Report is now available for download Here.


Kindly share this post
Continue Reading

Trending