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I will appeal, says plaintiff Ojaomo

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Fraudsters using Magu’s name to extort money, says EFCC

A lawyer, Oluwatosin Ojaomo, yesterday said he would file an application next week against the judgment of the Federal High Court Abuja on the fate of the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.

He said he went to the high court to seek a declaration that the Senate could not use a security report by the Department of State Services (DSS) to disqualify Magu because such a report is not one of the requirements for confirming an EFCC chairman.

He said he asked the court to declare that the Senate has the right to confirm the EFCC chairman without going beyond the provisions of the EFCC Act.

He said he insisted before the court that the security report upon which the Senate based its rejection of Magu was extraneous to EFCC Act.

Ojaomo, who spoke with our correspondent, last night, asked Nigerians to read the judgment in a holistic manner, insisted that the Senate misinterpreted the judgment.

He said: “Although I have not received the Certified True Copy (CTC) , I will go to the Court of Appeal next week. Anybody can assume any interpretation of the judgment but it must be read in a holistic manner.

“The security report, which was used to disqualify Magu, was one of the grounds of my application before the Federal High Court. I submitted before the court that a security report was not one of the conditions in EFCC Act for the confirmation of Magu or any EFCC chairman.

“The EFCC Act specifically mentioned the requirements for the confirmation of the EFCC chairman and I said the Senate cannot go outside the Act by using a security report to disqualify Magu. I said the Senate cannot go beyond the provisions of the EFCC Act. The question was resolved in my favour.

“The Act does not say there should be security report in confirming any appointee as EFCC chairman. I asked the court to declare that the Senate cannot because of a mere allegation (a security report), which has not been proven to disqualify Magu.

“I also maintained and agreed that the Senate has the statutory powers to confirm any nominee for the office of EFCC chairman but the confirmation cannot go outside the EFCC Establishment Act. Which means, the President cannot go outside the Act to appoint a sergeant as EFCC chairman. And the court agreed with me on this.”

Responding to a question, Ojaomo added: “The only aspect I disagreed with the court is the question of locus. I am going to the Court of Appeal against the judgment on the issue of locus.

“As a Nigerian and a tax payer, I know that the EFCC is a public institution and I have a duty as a Nigerian to protect the institution. And the money recovered by the EFCC belongs to Nigerians. So, I have the locus to file the suit.”

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JUST IN : $4.2m COVID-19 fraud : Apetu of Ipetumodu, Oba Olugbenga Oloyede.jailed four years in US

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The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, has been sentenced to more than four years in prison in the United States.

Oloyede, 62, who holds dual U.S. and Nigerian citizenship and resides in Medina, Ohio, was on August 26 handed 56 months in prison by U.S. District Judge Christopher A. Boyko.

According to the U.S. Attorney’s Office for the Northern District of Ohio in a statement on Tuesday, the monarch, was also ordered to “serve three years of supervised release after imprisonment and pay $4,408,543.38 in restitution.

“He also forfeited his Medina home on Foote Road, which he had acquired with proceeds of the scheme, and an additional $96,006.89 in fraud proceeds investigators had seized,” the statement read.

The U.S. Attorney’s Office said Oloyede led a conspiracy to exploit COVID-19 emergency loan programmes created for struggling businesses.

“From about April 2020 to February 2022, Oloyede and his co-conspirator, Edward Oluwasanmi, conspired to submit fraudulent applications for loans that were made available through the U.S. Small Business Association (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act,” the statement read.

In April, the duo pleaded guilty to wire fraud and tax fraud charges linked to a pandemic relief scam that siphoned over $4.2m in federal stimulus funds.

The court was told that Oloyede, who also worked as a tax preparer, “operated five businesses and one nonprofit, while Oluwasanmi owned an additional three business entities.

“Both defendants used their businesses to submit loan applications using false information.

“They obtained approximately $1.2 million in SBA funds for Oluwasanmi’s entities and $1.7 million for Oloyede’s entities,” the statement added.

According to investigators, “Oloyede submitted fraudulent PPP and EIDL applications in the names of some of his clients and their businesses.

“In exchange, Oloyede would receive 15-20% of their loans as the fee, or kickback, for obtaining the loans for them, without reporting this income to the IRS on his own tax returns.”

The funds were then used for personal gain, prosecutors said.

“Investigators learned that the defendant used funds obtained from these loans to acquire land and build a home and purchase a luxury vehicle,” the U.S. Attorney’s Office disclosed.

In all, Oloyede “caused the SBA to approve 38 fraudulent applications, amounting to $4,213,378 in disbursed loans and advances.”

His co-conspirator, Oluwasanmi, 62, of Willoughby, was earlier sentenced in July to 27 months in prison.

He was also ordered to pay more than $1.2 million in restitution, forfeit a commercial property purchased with fraud proceeds, and surrender more than $600,000 held in financial accounts.

The U.S. Attorney’s Office emphasized the significance of the conviction, noting that the case was jointly investigated by the Department of Transportation Office of the Inspector General, the FBI Cleveland Division, and IRS-Criminal Investigations as part of the Pandemic Response Accountability Committee Fraud Task Force.

“This case was prosecuted by Assistant United States Attorneys Edward D. Brydle and James L. Morford for the Northern District of Ohio,” the release concluded.

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BREAKING : Air Peace is set to launch direct flights from Lagos to Brazil, following an agreement reached during President Tinubu’s visit to Brazil

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Air Peace, is set to begin direct flights from Lagos, Nigeria  to São Paulo, Brazil following an agreement reached during President Bola Tinubu’s state visit to Brazil

Details later

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Breaking : Panic as Abuja-Kaduna Train Derails

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A passenger train traveling from Abuja to Kaduna derailed on Tuesday morning, sparking panic among passengers and their families.

The incident reportedly occurred along the Kaduna corridor shortly after the train left Abuja around 11 a.m. on its way to Kaduna.

A passenger on board described the situation as “chaotic,” noting that people were “scrambling to safety in fear and confusion.”

The cause of the derailment remains unclear, but official confirmation indicates about six people sustained injuries, with no fatalities reported.

According to security sources, military personnel have been deployed to the scene to help evacuate stranded passengers.

The Nigerian Railway Corporation has issued a statement on the incident.

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