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Lagos: Court grants EFCC’s request for permanent forfeiture of suspect property

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The Federal High Court sitting in Ikoyi, Lagos, on Friday ordered the final forfeiture of a property suspected to have been acquired with proceeds from unlawful activities.

Vacation judge, Justice Deinde Dipeolu, ruled that the property, situated at 26 Tolu Road, Olodi Apapa, within Ajeromi-Ifelodun Local Government Area of Lagos State, be permanently forfeited to the Federal Government of Nigeria.

The order followed a motion on notice filed by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, represented by its counsel, Hannatu Kofarnaisa.

In January 2025, the court had initially granted an interim forfeiture of the property and directed that the order be published in a national newspaper to allow any interested parties to appear and show cause why the property should not be permanently forfeited.

During Friday’s proceedings, Kofarnaisa informed the court that no objections had been filed within the 14-day period provided after the publication, thereby paving the way for the final forfeiture.

The application was further supported by an affidavit sworn by Gyal Maina Gapani, an EFCC operative.

After reviewing the submissions, Justice Dipeolu found merit in the EFCC’s application and granted an order for the permanent forfeiture of the property to the Federal Government of Nigeria, in favour of Sterling Bank Plc.

In the affidavit, Gapani had stated, “that the Commission on the 18th day of July 2022, received a petition from Sterling Bank PLC bothering on criminal conversion of funds and stealing of funds belonging to the bank wherein an unauthorized transfer of huge sums of money was done.
“The petitioner alleged that the unauthorized transfer of funds was due to a system glitch in the bank wherein the total sum of N295.916,201.02 (Two Hundred and Ninety Five Million, Nine Hundred and Sixteen Thousand, Two Hundred and One Naira Two Kobo) was stolen by some customers of the bank and same converted to their own personal use.

“That as of the time the said customers allegedly stole the said sum, they do not have a corresponding sum in their accounts.

“That the alleged sum was stolen via PayAttitude Global Limited, which is an e-bank wallet and a payment scheme of the Sterling Bank Plc.

“That the commission wrote a letter to Pay Attitude Global LTD and they responded vide a letter dated 17th March 2023 forwarding the payment transaction scheme of the said Ojora Sulaimon Kehinde.

“Preliminary investigations revealed that due to the system glitch, one of the suspects, by name Ojora Sulaimon Kehinde, criminally converted the total sum of N89,000,000 (Eighty Nine Million Naira) belonging to Sterling Bank PLC.

“That in a bid to launder and fraudulently conceal the said sum, he transferred a substantial part of the said sum to his wife, Aminat Olatanwa Ojora, vide her bank account number domiciled with Sterling Bank PLC.

“That as at the time the said Ojora Sulalmon Kehinde transferred the said monies to the account of Aminat Olatanwa Ojora, his wife, using the PayAttitude platform to be used for the purchase of the property now sought to be forfeited.

“That the said Ojora Suleimon Kehinde did not have the corresponding sum in his account as at the time he transferred the monies to his wife.

“That the said Ojora Sulaimon Kehinde procured his wife to transfer the sum of 17,000,000 (Seventeen Mlilion Naira) to one Chuksy Odozy Osazuwa account number domiciled in Zenith Bank Plc for the purchase of a property situate and located at No 26. Tolu Road, Olodi Apapa, Ajeromi Ifelodun Local Government Area of Lagos State, now sought to be forfeited”.

“That Ojora Sulaimon Kehinde procured his brother Muritala Sulaimon Kehinde to front for him in the purchase and execution of the deed of assignment for the purchase of the said property situated and located at No 26. Tolu Road, Olodi Apapa, Ajeromi Ifelodun Local Government Area of Lagos State, now sought to be forfeited”.

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NNPCL retail outlets, others reduce fuel price

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Nigerian National Petroleum Company Limited has reduced its premium motor spirit price.

Ekwutosblog correspondent who went round NNPCL retail outlets in Abuja on Tuesday gathered that state-owned firms have also slashed their petrol pump price to N895 per litre from N910.

This comes as NNPCL filling station along Kubwa Expressway, Wuse Zone 4, Wuse Zone 6 (Berger), and other locations in Abuja visibly adjusted their fuel pump price to reflect the new price.

 

The reduction represents an N15 downward petrol price review in NNPCL retail outlets.

NNPCL is not alone in the petrol reduction; Dangote Refinery’s retail partner, MRS filling stations in Abuja, also reduced their petrol price by N25 to N885 per litre from N910.

Similarly, other filling stations in Abuja, such as Ranoil and Empire Energy, also reduced their petrol pump prices to N910 and N915 per litre on Tuesday from the previous N920 and N935.

The development comes hours after Ekwutosblog exclusively reports that Nigerian Petroleum Products Marketers announced a plan to slash petrol prices to between N900 and N920 per litre in Abuja.

Recall that Dangote Refinery reduced its ex-depot petrol price twice this July so far.

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Private or public, let the refineries work – IPMAN to FG, NNPCL

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The Independent Petroleum Marketers Association of Nigeria, IPMAN, Port Harcourt Depot Unit, has stressed that the Port Harcourt Refinery requires more than periodic rehabilitation, calling instead for a “consistent and experienced management focused on functionality and long-term sustainability”.

The position was made known in a statement signed on June 12, 2025, by the Chairman of IPMAN Port Harcourt Depot Unit, Tekena Thankgod Ikpaki.

The association was reacting to a recent statement by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mr. Bayo Ojulari, who hinted that the Federal Government may consider selling some of its refineries as a solution to persistent rehabilitation and efficiency challenges.

Ikpaki noted that as major stakeholders in the downstream oil sector, petroleum marketers fully understand the strategic importance of the Port Harcourt Refinery, not just for Rivers State and the Niger Delta region, but for the Nigerian economy as a whole.

He observed that the brief resumption of operations at the refinery in November 2024, followed by another shutdown in May 2025 for maintenance, once again underscored the lingering operational and technical issues affecting Nigeria’s refineries.

Ikpaki, however, stated that it is less concerned about who manages the facility and more focused on ensuring the refinery functions optimally.

He said, “Whether the facility remains under the direct control of the NNPCL or is eventually handed over to a private entity, the most critical issue for us at this point is ensuring the Port Harcourt Refinery operates at optimal capacity.

“We believe that a fully functional refinery will have far-reaching benefits, offering alternative sources of refined products, stabilizing the domestic market, creating jobs, boosting local content, and contributing to national energy security,” the statement added.

The association appealed to the Federal Government and NNPCL to ensure that any future sale or concession process prioritizes competence and technical proficiency.

IPMAN urged the authorities to “prioritize competence, technical expertise, and a proven track record in refinery operations in selecting any prospective buyer or management partner, should the company proceed with the sale or concessioning process.”

The association emphasized that privatization should not be pursued for its own sake but must lead to measurable improvements in output, performance, and national benefit.

Ikpaki concluded by reaffirming the association’s willingness to collaborate with all stakeholders to ensure a successful transition.

“We are committed to working with all stakeholders to ensure that the transition, if and when it happens, will be transparent, accountable, and ultimately beneficial to Nigerians, particularly those of us who operate directly within the value chain,” he said.

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BREAKING! Tinubu Orders National Mourning for Late Buhari, Declares Tuesday July15 Public Holiday

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President Bola Tinubu has declared Tuesday, July 15, 2025, a public holiday in honor of former President Muhammadu Buhari, who passed away on Sunday, July 13, 2025.

The Federal Government announced a seven-day national mourning period, during which national flags will fly at half-mast from July 13 to July 19.

 

Public Holiday:Tuesday, July 15, 2025, has been declared a public holiday to honor the late former President.

National Mourning: A seven-day national mourning period was declared by President Tinubu.

Flag Protocol:*National flags will fly at half-mast until Saturday, July 19.

Burial Arrangements:The late President’s burial is scheduled for Tuesday, July 15, 2025, in his hometown of Daura, Katsina State.

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