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Court reverses forfeiture of N500m, $500,000 allegedly diverted by Zamfara gov

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The Federal High Court in Abuja on Friday set aside its June 30, 2017, interim order of forfeiture of the sums of N500m and $500,000 allegedly looted from the Zamfara State’s share of the Paris Club refunds made by the Federal Government. The Economic and Financial Crimes Commission had alleged that the Governor of Zamfara State, Abdulaziz Yari, diverted the money from the state government’s account to two firms; First Generation Mortgage Bank Ltd and Gosh Projects Limited, from which the funds were allegedly recovered. Justice Nnamdi Dimgba on Friday dismissed EFCC’s application for an order of final forfeiture of the money to the Federal Government. The judge ruled that it would be “an unjust, inequitable and irresponsible exercise” of his judicial powers under section 17 of the Advance Fee Fraud Act to gloss over the claims and go ahead to make the final forfeiture order. “I do not believe that this provision should be available where the abs...
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Businessman Udofia offers Eagles $20,000 per goal

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Businessman Aka Udofia has offered the Super Eagles the sum of $20,000 for every goal scored in Monday’s 2018 World Cup qualifer against Cameroon’s Indomitable Lions in Yaounde. The businessman from Akwa Ibom State made the promise as he briefly greeted players and officials inside the chartered ARIK Bombadier CRJ 1000 aircraft just before the team took off at the Ibom International Airport, Uyo. “I am a very good friend of the Nigeria Football Federation president, AmajuPinnick, and I am happy that I am here in time to see you guys before take-off for Yaounde,” Udofia told the Eagles on Sunday. “I watched the game against the Cameroonians on Friday and I am sure you have the ability to conquer them again in their own territory. I promise to reward you with $20,000 for every goal scored in Yaounde,” Udofia announced to the applause of players and officials. Three-time champions Nigeria play Cameroon on Monday in Yaounde in a Day 4 encounter of t...
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Recession will end soon, says Osinbajo

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The Vice-President, Prof. Yemi Osinbajo, has said the economic recession facing the country will not last until 2020 as predicted by a Senior Advocate of Nigeria, Olisa Agbakoba. Osinbajo, who  said this in Ede, Osun State on Thursday in an interview with journalists after the eighth convocation  of the Redeemer’s University, stated that the recession would end very soon because the administration was focused on measures to revive the economy and make it strong. He blamed the recession on destruction of oil pipelines which resulted in the reduction of crude oil being sold by the country and the drop in the price of crude oil in the international market. Osinbajo said, “As far as we are concerned and so far as all of us who are working seriously hard are concerned, the recession must be short-lived. “The reason is that as of February last year, we were generating 5,000 megawatts of power and that was the highest ever in the history of this country and th...
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