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EFCC traces 61 assets to ex-bank MD in Dubai

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The Economic and Financial Crimes Commission( EFCC) has traced 61 assets  to former Managing Director/Chief Executive Officer of Oceanic Bank Mrs. Cecilia Ibru in Dubai in its ongoing tracking of looted funds.

The assets include 41 shops, 16 mansions and four park towers.

All the properties have been confiscated, but their sale is trailed by controversy because about $4,522,413.20 remain unaccounted for in the last seven years.

Out of the over $7million purportedly realised from the disposal of the properties, the Assets Management Corporation of Nigeria( AMCON) only received $3,278,238.69 from the proceeds.

The controversy over the sales led to the EFCC’s interrogation of four AMCON officials and former head of the transactions, who is now with a bank.

More bankers have been invited for questioning over how the proceeds were wired from Dubai into some individual and companies’ accounts in Nigeria.

But the EFCC may watch-list a United Kingdom (UK) -based lawyer, who was engaged in June 2011  by AMCON to dispose the assets.

According to a fact-sheet obtained by our correspondent, the details of the assets seized from Mrs. Ibru emerged after a crack team of EFCC detectives visited Dubai in the United Arab Emirates (UAE) to uncover alleged looted funds and assets bought with crime proceeds.

Apart from identifying the properties of many politically exposed persons (PEPs), the list of Mrs. Ibru’s assets and their alleged questionable disposal were highlights of the EFCC team’s focus.

Justice Daniel Abutu of the  Federal High Court in  Lagos on October 9, 2010 sentenced Mrs. Ibru  to 18 months imprisonment.

He ordered her to forfeit N191billion worth of assets to the Federal Government through AMCON.

The assets to forfeit include properties in Nigeria, United States of America, and Dubai.

She was also ordered to forfeit  shares in over 100 firms both listed and unlisted on the Nigerian Stock Exchange.

The fact sheet gave details of the assets traced to Mrs. Ibru , who spent six months in prison in Dubai.

The fact-sheet said in part:  “About 61 assets were traced to Mrs. Ibru in Dubai ( UAE). And from the information from AMCON, 41 of the assets were shops, 16 were other types of houses/mansions and four park towers. Some of the towers (A2005, A2008,A 2203) have been linked with two persons.

“While one of the park towers was  paid for, three others had not been fully paid for but they have been de registered. Due to non-payment of full purchase price, a Dubai firm, DAMAC, has refused to refund the deposits.

“A registered Nigerian company with one banker as alter ego,  was engaged by AMCON in  June 2011 to provide legal services for the sale of the assets.

“A UK-based lawyer was given the power of attorney which was notarised in Dubai.

“Findings indicated that the attorney engaged allegedly received over $7million but about $4,522,413.20 remained unaccounted for.

“The EFCC detectives  discovered that AMCON  only received $3,278,238.69 from the proceeds of the sale of the assets.”

The anti-graft agency said: “Investigation showed that some of the proceeds of the sales were wired from Dubai into the accounts of some individuals and companies.

“The EFCC team has interacted with four officials of AMCON including a former staff,  the ex-Head of the transactions, who is now with a bank.

“More officials of some banks have been invited to come and give us information on third party accounts where the proceeds were deposited.”

The EFCC said it had been trying to prevail on Williams to account for the sale of the 61 properties.

The fact-sheet indicated that “the banker was contacted via his Nigerian mobile line but he refused to honour the invitation. An invitation letter was served on his office but he has not responded.

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CCT Chairmanship : Embattled Danladi Umar Withdraws Suit Challenges his Successor Mainasara Kogo’s Appointment by Tinubu

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Justice Danladi Yakubu Umar, the embattled Chairman of the Code of Conduct Tribunal (CCT), has quietly withdrawn his lawsuit challenging the controversial appointment of Dr. Mainasara Umar Kogo as his successor—an appointment made by President Bola Ahmed Tinubu in alleged violation of constitutional procedures.

Newsthumb report that in Suit No: FHC/ABJ/CS/1796/2024, filed at the Federal High Court, Abuja, Justice Umar—alongside civil society groups—had sought to nullify the appointment of Dr. Kogo.

The respondents listed in the suit included President Tinubu, the Attorney-General of the Federation, Lateef Fagbemi (SAN), the Senate President, Godswill Akpabio, the National Assembly, the National Judicial Council (NJC), and the Federal Judicial Service Commission (FJSC), among others.

However, in a surprising development, a “Notice of Discontinuance” dated March 20, 2025, and signed by Umar’s legal representatives—M.M. Maidoki, A.G. Salisu, and Jibrin S. Jibrin—was filed in court, effectively ending the legal challenge.

Justice Umar decided to withdraw the suit following intense pressure from family members and respected elders from Toro, Bauchi State—his hometown—who urged him to prioritize family honor and avoid escalating political tensions.

A member of Umar’s legal team disclosed that, despite their firm belief that the President, National Assembly, and Secretary to the Government of the Federation (SGF), Senator George Akume, had acted illegally against Umar, they advised him to withdraw the case for the sake of his safety and the integrity of his family.

The removal attempts against Justice Umar ignited serious legal and constitutional controversy involving the Presidency, the National Assembly, and the SGF. President

President Tinubu’s decision to appoint Dr. Kogo was first announced in July 2024 by presidential spokesman Ajuri Ngelale—despite the fact that Justice Umar’s tenure had not expired.

Compounding the controversy, the official appointment letter, signed by SGF George Akume, was dated January 20, 2025, but backdated to November 27, 2024—an action that raised further suspicion among legal scholars and political observers.

The National Assembly also contributed to the confusion by initially citing an incorrect constitutional provision and even misstating the name of the intended appointee—errors they later retracted—raising concerns that Umar’s removal was politically motivated rather than based on proven misconduct.

The move was widely condemned by legal experts, who described it as unconstitutional. Senior Advocates of Nigeria (SANs) including Prof. Mamman Lawan Yusufari, Dr. Wahab Shittu, and Prof. Yemi Akinseye George pointed out that, under the Fifth Schedule of the 1999 Constitution, it is the National Judicial Council (NJC) and the Federal Judicial Service Commission (FJSC) that are empowered to nominate and recommend candidates for appointment to the CCT—not the President acting unilaterally.
There is no public evidence that the NJC, chaired by Chief Justice of Nigeria Justice Kudirat Kekere-Ekun, recommended any successor. Similarly, there is no proof that the National Assembly met the two-thirds majority threshold required to lawfully remove Justice Umar.

The National Assembly’s move to oust Umar was reportedly initiated at the behest of the Presidency, leading to the litigation that has now been withdrawn. Notably, President Tinubu, Attorney-General Fagbemi, and other officials had already filed their statements of defense prior to the discontinuance.

Justice Umar has previously presided over several politically sensitive cases, including the 2012 trial of then-Lagos State Governor Bola Tinubu over alleged false asset declarations. Although he discharged Tinubu, he did not acquit him—an outcome some believe might have posed constitutional hurdles during Tinubu’s political ascendancy.

With the withdrawal of the case, it remains uncertain whether Justice Umar will formally vacate his position or seek other avenues to contest Dr. Kogo’s appointment.

The Code of Conduct Tribunal (CCT) is a specialized court tasked with upholding ethical standards among Nigerian public officers. It is empowered to try politicians, civil servants, judges, and others accused of breaching the Code of Conduct, including false asset declarations, foreign account ownership, conflicts of interest, and corruption-related misconduct.

Upon conviction, the Tribunal can impose penalties such as removal from office, disqualification from holding public office for up to ten years, and forfeiture of assets improperly acquired.

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Akpabio: The Misconcepted Man Of Purpose, Says Niyi Babade

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“Just let him know that you are passionate like him and fellow human being’s happiness is paramount to you and that you hold the ideals of man in high esteem, let him know you can contribute positively to the reason why humanity must not suffer, let him know that you are full of ideas that can bring joy and happiness to humanity, let him know that the comfortabilities of the people, the equal rights of the people in a world where no man feels he/she is more superior to the other is your perogative, let him know you can offer positive solutions to difficult situations instantly,let him know that you are super ready to bring people out of the quagmire they might found themselves at any point in time, then he will bring you closer to himself so you will have unlimited access to him and become his friend. He will make sure you are encouraged and generously rewarded for your contribution.His love and concern for humanity is unprecedented no matter your gender or status in the society. This is why people often times take undue advantage of his large heartedness for granted especially the female folks”

This was how Gbenga a former staffer of the Directorate of the State Security Services described Senator Godswill Obot Akpabio the Senate President of Nigeria,when he worked with him as security personnel when he was the Governor of Akwa Ibom State.while speaking with our reporter.

The senate president still remain steadfast and resolute to the course of humanity especially Nigerians wherever they are within the globe.

The ongoing encounter with Senator Natasha is one of the misconceptions that we speak about which has often times trailed the senate president’s path.Because of his love for people,humanitarian and philanthropy heart for every one

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JUST IN: Terrorism trial, Court admits video recording of Kanu’s interrogation, other items

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A video recording of Nnamdi Kanu’s interrogation by officials of the Department of State Services (DSS) has been played in court in his ongoing trial before a Federal High Court in Abuja.

The statement Kanu made on October 15, 2015 has also been read.

In the video, he admitted establishment of Radio Biafra and registration in London.

Kanu also admitted not registering the radio station with NBC because there was no need for it.

In his statement, he admitted fighting for emancipation of the people of South East, South South and parts of Benue and Kogi.

He made it abundantly clear that freedom fighting is not a crime in any part of the world including Nigeria because it is a fundamental right.

Kanu claimed not to be involved in any violence because he has not been linked with any one.

Items in four suitcases recovered from him in his hotel room in 2015 were also brought to the court room full display.

Defence lawyer, Kanu Agabi (SAN) did not object when prosecuting lawyer, Adegboyega Awomolo (SAN) applied to tender all the items in evidence.

Justice James Omotosho has admitted the items in evidence.

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