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Alleged N109.8million Fraud : EFCC arraigns Ex-Lagos AG, Shasore, on fresh money laundering charge
The Economic and Financial Crimes Commission, EFCC, on Friday, docked a former Attorney-General and Commissioner for Justice in Lagos State, Olasupo Shasore, SAN, before the Federal High Court in Abuja.
The erstwhile Lagos AG was arraigned alongside his company, Middlesex Investment Limited,on a 14-count charge that bordered on his alleged complicity in money laundering to the tune of about N109.8million.
EFCC equally alleged that the defendant failed to report to it, in writing , a single lodgment of N60m he made into his company’s account number; 0005659394 which he operated with a commercial bank.
It told the court that the defendant, by his action, committed an offence that was contrary to Section 10 of the Money Laundering Prohibition Act 2011.
Besides, the anti-graft agency accused the defendant of also failing to report a single lodgment of another N48.8m into the same account, in breach of extant money laundering laws.
The charge sheet further indicated that Shasore had in November 2017, committed same offence by transferring $300, 000 single lodgment into his company account where he is a sole signatory.
The defendant was alleged to have failed to establish an anti-money laundering desk or to designate a Compliance Officer in his company as required by law.
Meanwhile, after the charge was read to him, the defendant pleaded not guilty to all the allegations against him.
EFCC’s counsel, Mr. Bala Sanga, said he was not opposed to his release on bail.
Consequently, trial Justice Inyang Ekwo allowed the defendant to go home on the of administrative bail that was earlier granted to him by the EFCC.
The matter was later adjourned till March 13 for the commencement of trial.
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BREAKING: President Tinubu Returns to Nigeria from European Working Visit
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President Bola Tinubu has returned to Nigeria after spending about four weeks in Europe. Government
The presidential aircraft carrying the President landed at the Presidential Wing of the Murtala Muhammed International Airport at about 6:22 p.m. on Tuesday.
Journalists at the airport were restricted from taking visuals of the President’s arrival as the aircraft made its way to the terminal.
Tinubu departed Nigeria on August 30 for London, then travelled to Paris, where he held engagements with French President Emmanuel Macron, including a dinner. Government
His return marks the end of his extended stay abroad; the President is expected to participate in activities marking Nigeria’s 66th Independence Anniversary on October 1st.
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Tinubu Unveils $7bn Plan to Drive Ogun Deep Seaport, Special Economic Zone, Says Onanuga
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President Bola Tinubu has unveiled an investment package of more than $7 billion for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport, describing the projects as a major step towards strengthening Nigeria’s maritime economy and attracting foreign investment.
In a statement by his Spokesman, Bayo Onanuga, on Thursday, the President spoke in Paris, France, during the signing of Memoranda of Understanding between the Ogun State Government and DP World, a global ports and logistics operator, for the development of the projects.
Tinubu assured domestic and foreign investors that the Federal Government would continue to provide regulatory clarity, policy stability and a predictable business environment to support long-term investments in Nigeria.
“The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators,” the President said.
He added that the Federal Government would provide the necessary regulatory and institutional support to ensure that the projects moved seamlessly from agreements to implementation.
According to the President, the agreements are expected to attract an initial investment of more than $7 billion into the Nigerian economy and create over 50,000 direct jobs when fully developed, alongside additional indirect employment opportunities.
Tinubu said the projects would also generate non-oil export earnings and contribute to Nigeria’s economic diversification.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” he said.
The proposed Gateway Deep Seaport at Ogun Waterside will have a four-kilometre berth and an 18-
metre draft. The facility is expected to help decongest the Lagos port corridor and ease pressure on the Apapa and Tin Can Island ports.
The president said the deeper draft would enable the port to accommodate larger vessels while providing a competitive gateway for trade within Nigeria and across the African Continental Free Trade Area.
He noted that the proposed Ogun State Blue Marine Special Economic Zone would cover about 10,000 hectares and would be integrated with the deep seaport to support manufacturing, processing, exports and logistics.
“The Gateway Deep Seaport is the critical infrastructure that will support the zone’s viability. A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” Tinubu said.
He said the Federal Government would facilitate road, rail and power connectivity to the projects, while strengthening investment security and the maritime domain and removing unnecessary bureaucratic obstacles.
The president also linked the projects to the Lagos-Calabar Coastal Highway, describing the Ogun section of the road as a critical transport connection for the emerging industrial and maritime corridor.
“The Lagos–Calabar Coastal Highway is central to this corridor’s commercial viability,” he said, adding that the 28-kilometre Ogun section of the 700-kilometre highway was scheduled for completion before the end of the year.
Tinubu said the port and industrial zone would also form part of a wider strategic corridor linking the proposed Nigerian Navy Operating Base and Dockyard with the OK LNG Project.
The President commended Ogun State Governor Dapo Abiodun and his administration for securing the land and structuring the investment framework.
“I commend Governor Dapo Abiodun and the government and people of Ogun State for securing the land, structuring the investment framework and reducing project risks for global investors,” he said.
Governor Abiodun led the Ogun State delegation at the signing ceremony, which also included state commissioners and other senior officials.
Senior representatives of DP World, the Nigerian Ports Authority and SkyKapital were also present at the event.
Tinubu urged Ogun State and the investors to maintain the momentum created by the agreements and move quickly towards implementation.
“Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business. These projects respond directly to those constraints,” he said.
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Happy Birthday to Me! 🎂🎉
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Today, I celebrate myself and give all glory and thanks to Almighty God for the gift of life and for bringing me this far. I am grateful for the opportunity to be alive, healthy, peaceful, happy, and prosperous.
As I celebrate another year today, I pray for greater blessings, wisdom, good health, peace, success, and abundant prosperity in the years ahead.
May this new chapter of my life be filled with joy, favour, wonderful opportunities, and fulfilment of my heart’s desires.
Happy Birthday to me! 🥳🎉
Congratulations to me on this special day. 🙏❤️🎂
I wish myself many more happy and prosperous returns. Cheers to a beautiful new year of my life! 🥂🎉
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