First Bank

Tuesday, May 31, 2016

Abdulsamad Rabiu’s ex workers at BUA Group protest, accuse company of forex round tripping

Former employees of Nigerian conglomerate, BUA Group, have called on the federal government to
investigate the company over its alleged indulgence in foreign exchange (forex) round tripping and
tax evasion.

Thursday, May 26, 2016

Most Governors’ Drivers Have Expired Licenses & Not Well Trained In Convoy Driving

CORPS Marshal, Federal Road Safety Corps (FRSC) Mr Boboye Oyeyemi, has expressed concern that about 70 per cent of drivers attached to most state governors across the country  operate with expired licences and are not well trained in the act of driving in a convoy

Wednesday, May 25, 2016

Court Orders Worldwide Freeze Of $1.8 Billion In Assets Owned Ex Petrol Minister Diezani Madueke's Cronies Kola Aluko, Jide Omikore And Company, Atlantic Energy

A federal high court in Lagos has granted a Mareva injunction permitting the Nigerian government to freeze assets owned by two Nigerian businessmen Kola Aluko and Jide Omokore, and their company Atlantic Energy.

The individuals are linked to former Nigerian oil minister, Diezani Alison-Madueke in a wide range

How NNPC Group Managing Director Abubakar Lawal Yarádua Operated Secret Account To Buy Posh London House While In Office

A former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Abubakar Lawal Yar’Adua, bought a posh house worth £890,000 in London using a secret offshore company he registered in the British Virgin Island.

GTB, ECO Bank Shut Down Over Default In Payment Of Tax

Hundreds of customers went home disappointed in Ado Ekiti,  Ekiti State, on Wednesday after  two banks  were shut over alleged non-remittance of tax.

Fidelity Bank Boss, Nnamdi Okonkwo Back In EFCC Detention Over Fresh Allegations Of Laundering $153m For Diezani Madueke

The Economic and Financial Crimes Commission (EFCC) in Lagos has rearrested Nnamdi Okonkwo, the Managing Director of Fidelity Bank PLC, over the discovery of $153 million in new funds also laundered through the bank by former Nigerian oil minister, Diezani Alison-Madueke.

Monday, May 23, 2016

Rotimi Amaechi, Hadi Sirika In Intense Battle To Control Transport Ministry

Like a ticking clock with broken hands, the presidential cabinet of Muhammadu Buhari is falling apart. There is an ominous edge to its tick as it paces out to an empty, pointless hour. If great care is not taken, President Buhari will watch helplessly as his cabinet, the government and his ruling party, the All Progressives Congress (APC), become victims of the APC’s success at polls. Besides the bickering that characterise the party as you read, Buhari’s cabinet is gradually becoming a nest of bitter politicians and avoidable hostilities. Just recently, news of an ego war and persistent bickering between former Rivers State governor and incumbent Minister of Transport, Rotimi Amaechi, and the Minister of State for Aviation, Senator Hadi Sirika rent the air.

Billionaire Mohammed Indimi Hands Out $14m Gift To American School To Signpost Daughters Amouna, Hauwa’s Graduation In Face Of National Outcry Of Economic Crisis

In the aftermath of a reckless enterprise, the prodigal billionaire encounters the swollen belly of his pride. He runs smack into sourness and pain. He is afflicted by memories of worthless ego and of time that was a waste. Thus when Borno billionaire, Mohammed Indimi, remembers his $14 million (N4.2 billion) gift to American school, University of Lynn, he will probably get overwhelmed by bitterness and the consequences of neglectful disconnect with his roots. Indimi, a graduate of Florida-based University of Lynn, has undoubtedly mastered the art of indifference to his roots, that is why he found it very easy to donate a N4.2 billion world-class complex, the “Mohammed Indimi International Business Center,” to the University of Lynn – as part of the activities of the school’s commencement day.

Sunday, May 22, 2016

Gov Ayo Fayose, Rivers Front Man Nyesome Wike Almost Resort To Blows At PDP Convention Over Support For Ali Modu Sheriff As Party Chairman

Governors Nyesom Wike of Rivers Sate and Ayo Fayose of Ekiti State ended their vociferous support for Senator Ali Modu Sheriff as acting national chairman of the Peoples Democratic Party (PDP) on a rather sour note yesterday.

The duo almost came to blows after it became clear that they were riding a lame donkey.

While Wike remained steadfast in his support for the retention of Sheriff as chairman of the party at its convention in Port Harcourt, Fayose sensationally backed out.

Friday, May 20, 2016

Witness Insists Ex Niger Delta Minister Godsay Orubebe Did Not Declare Abuja Property In False Asset Declaration Trial

The cross-examination of the first prosecution witness, Sam Madojemu, in the on-going trial of former Minister for Niger Delta, Godsday Orubebe, on a one-count charge of false asset declaration has ended.
The witness had maintained before the Code of Conduct Tribunal (CCT) yesterday that the former minister failed to declare his full assets while in office.

Orubebe was arraigned by the Federal Government on a one-count charge of false asset declaration, which he pleaded not guilty.
Under cross-examination by the defence counsel, Larry Selekowei, the witness, who is the head of investigation with the Code of Conduct Bureau (CCB), said the property, Plot 2057, Asokoro, Abuja, was not declared by Orubebe while in office between 2007 and 2011.

About Grace Assembly Pastor, Femi Paul’s Fight Against Mediocrity With Life Impacting Initiative ‘’Excellence In Life’’ Series

The current state of our nation leaves much to  desired. From the plunging Economy to insecurity.

The masses are wailing and the rich also cry. From the constant decline of the value of the Naira to the hike in fuel prices which has catapulted inflation and taken it to an all time high, the common Nigerians have had to bear the brunt!

It is quite convenient to heap the bulk of blame on the government as usual but truth be told the citizens are equally accountable.

EFCC Investigates Ex Gov Emmanuel Uduaghan, Grills David Edevbie Over Their Roles In Ex Petrol Minister Diezani Madueke N23b Political Fund That Got Fidelity Bank Into Trouble

The Economic and Financial Crimes Commission has begun investigations into the roles of the immediate past Governor of Delta State, Emmanuel Uduaghan  in the $115m (N23bn) disbursed by a former Minister of Petroleum Resources, Diezani Alison-Madueke, during the build-up to the 2015 presidential election.

Confiscation Assets Hearing Cause Delay In Deportation Of Ex Gov James Ibori To Nigeria From London Jail

Jailed former Delta State governor, Chief James Ibori, would have been deported to Nigeria in March, but for his much delayed and severally adjourned confiscation of assets hearing , his lead defence counsel, Ivan Krolick and Crown Prosecutor, Jonathan Kinnear revealed at the Southwark Crown court on Thursday.

‘’Prosecute Them’’ Court Declares Over Alleged Forgery Case Against Innoson Motors Boss, Innocent Chukwuma & 4 Others

A Federal High Court sitting in Lagos has authorised the Attorney-General of Federation (AGF) to commence the prosecution of Innocent Chukwuma, his company, Innoson Nigeria Limited, and four others for alleged forgery, Saharareporters reports.

Wednesday, May 18, 2016

Socialites John Shittu, Vivian Chiologi Catch High Society Off Guard With June 16 Marriage Ceremony To Be Stage In London

John Shittu, versatile player manager, celebrity soccer entrepreneur and society big boy is hooked.
The soccer manager notable for his daring exploits in managing Chelsea FC star, Mikel Obi, has wiggled his way into Vivian Chiologi’s 18-yard box. Like a goal bound fox-in-the-box, Shittu made dazzling runs into the Lagos socialite’s penalty area and laced a volley that pirouetted into her heart as cupid’s bow settles amid the ventricles of the enamored.

Senate President Bukola Saraki Bought Property Worth N37m In London Which He Didnot Declare Witness Asserts

The first prosecution witness in the ongoing trial of the Senate President, Dr. Bukola Saraki, Mr. Michael Wetkas, told the Code of Conduct Tribunal on Tuesday that Saraki bought a property worth N375m in London in 2010 which he did not declare.

EFCC Seizes Femi Fani Kayode’s Passport As Spokesperson Claims ‘’5days After Meeting Bail Conditions They Have Refused To Release Him’’

The Economic Financial Crime Commission, EFCC, has seized the passport belonging to a former Minister of Aviation, Chief Femi Fani-Kayode.

Zenith Bank, French Firm Sign $100m pact to boost Power

Zenith Bank Plc and the French Development Agency (Agence Francaise de Development (AFD), operator of France’s bilateral development finance mechanism, over the weekend in Abuja, signed a US$100m power sector credit facility to boost new investments in the capital expenditures of Distribution Companies (DISCOS).

Monday, May 16, 2016

British Journalist Reawakens Allegations Of $500m Corruption Against Minister Rotimi Amaechi In New Article Asking Whether Ex Gov Is ‘’Fantastically Corrupt Or Not”

It is the dark menace of truth that makes cowards of the most valiant of men. Thus despite his determination and frantic posturing to rid Nigeria of corruption, President Muhammadu Buhari is probably scared of the odds before him. Even so, the incumbent president has learned to survive.

President Buhari has mastered the sly art of clinging to power by turning a blind eye to the shortcomings of the men and tin gods that made him.

Recently, President Buhari has come under severe attack and criticism for prosecuting a highly selective and suspicious anti-corruption campaign. The president is accused of deploying the Economic and Financial Crimes Commission (EFCC) to persecute perceived political detractors and opposition. Although most of the culprits – mostly members of former ruling People’s Democratic Party – being investigated by the EFCC can muster no defence to the evidences furnished against them, pundits are of the opinion that, the president has chosen to ignore the corrupt elements in his party to persecute corrupt politicians and ex-public officers in the PDP.

Multi- Billion Dollar Maritime Player, Intels Decorated With Illegal Free Zones Operations Controversy

Multi-billion dollar maritime behemoth, INTELS appears to be deep in a sizzling issue of illegality and impunity. Three Oil and Gas Free Zones, -the Oil and Gas Free Zones in Warri Port Complex, Eko Support Services (ESS) Lagos and Brass Oil and Gas City, Brass Island, Bayelsa State, all multi billion naira projects have now been discovered to have been established without the backing of the law. And INTELS is alleged to be the big, unseen hand behind these free zones.

Troubled Oil Baron Kola Aluko Sells Of America Mansion At $3million Loss In Face Of Bankruptcy Suit By GT Bank, Multiple Investigations For Corruption By Authorities Home & Abroad.

Kola Aluko, controversial Nigeria’s oil tycoon has sold his Bel-Air, Los Angeles mansion, as Nigerian and European authorities investigate him for a series of money-laundering and fraud-related crimes.

According to Los Angeles Times and Forbes, Aluko sold the home last week for $21.5 million, taking a $3 million loss after purchasing the sprawling residence in 2012 for $24.5 million.

Aluko, 46, apparently sold the residence in an off-market transaction using a limited-liability company. An off-market sale in real estate refers to a property that is sold without any form of public advertising.

Sunday, May 15, 2016

First Bank Files Winding Up Petition Against Florence Seriki’s Omatek Computers Over N838m Loan Gone Bad

First Bank of Nigeria Limited has filed a winding-up petition against a limited liability company, Omatek Computers Limited, which deals in computer accessory, seeking to recover a loan of N838,337,562.69, granted the firm.
In the winding-up petition before a Federal High Court sitting in Lagos,

Fidelity Bank M.D Nnamdi Okonkwo Back At Work After Release From EFCC Detention

Fidelity Bank’s Managing Director/CEO Nnamdi Okonkwo, who was away following his interrogation by the Economic and Financial Crimes  Commission (EFCC), is back at work.

Okonkwo was with the anti-graft agency on the allegation that the bank received about $115million from the former Petroleum Resources Minister, Mrs. Diezani Alison- Madueke, a lodgement the bank said was reported to the regulatory authority.

EFCC Investigates Gov Rauf Aregbesola Over Allegations Of Diverting Local Govt Fund

The Economic and Financial Crimes Commission may have started investigation into the allegation of diversion of local government funds levelled against the administration of Governor Rauf Aregbesola of Osun State.

The EFCC’s Zonal Head, Ibadan, Akaninyene Ezima, said this in a letter of invitation sent to the Civil Societies Coalition for the Emancipation of Osun State.

Rolls Royce Phantoms, Porsches, Ferraris & Other Luxury Cars Cake With Dust, Cobwebs, Bird Droppings, Rodent Infestation At EFCC Car Dump As Owners Scurry To Avoid Prosecution

The luxury cars sparkle in the sun and glimmer in brilliant moonlight every day. Like piles of putrid fat left by the hearth to decay, they cut the portrait of a bulbous heap of steel rotting away in the sun and torrential rain. At first glance, the Rolls Royce Phantoms, Porsches, Ferraris, among other luxury cars cluttering the Economic and Financial Crimes Commission (EFCC) car dump in Abuja, look like used cars put up for sale. But the expensive automobiles are not for sale.

 Rather they are part of the luxury items and property seized from persons of interest in the EFCC’s anti-corruption campaign. The Capital findings revealed that the vehicles were confiscated from oil magnates, bank chiefs and other individuals currently undergoing investigation by the EFCC for various types of embezzlement and financial fraud.

How Ibe Kachikwu, Govs Prevailed On President Muhammadu Buhari To Hike Fuel Price Form N86 To N145 per Litre

The Minister of State for Petroleum, Ibe Kachikwu and state governors prevailed on President Muhammadu Buhari to hike fuel price from N86.50 to N145 per litre, a top government official told journalists in Abuja last night.

The official, who pleaded anonymity, said Buhari, who was concerned about the effect of fuel price hike on the average Nigerian, had strongly resisted the proposal by Kachikwu for several months but “succumbed reluctantly this month when he (Buhari) was presented with the stark reality of the dropping oil earnings and foreign reserves situation.”

Estate Developer Olawunmi Awosedo Decorates Sterling Bank M.D Yemi Adeola, Director Yemi Idowu In Allegations Of Fraud

His profile describes him as a Lawyer and Real Estate Developer but Olawunmi Awosedo is about to take on a huge battle as he has taken to hia face book oage to attack Sterling Bank,  Managing Director, Mr. Yemi Adeola and a Director of the Bank, Yemi Idowu of fraud!

This is how he told the story

Thursday, May 12, 2016

Skye Bank contribution to Agric sector hits 10 per cent

The Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Timothy Oguntayo, has disclosed that the bank's agricultural portfolio had reached about 10 per cent from five per cent two year agonke, showing its support to the development of the nation's economy.

Tuesday, May 10, 2016

The Automobiles Senate President Saraki Says He Bought As At 2003 :Mercedes X320, valued at N16m; Mercedes X500 worth N20m; Mercedes G500, valued at N6m; Mercedes V220 worth 2m and Ferrari456GT, valued at N25m, Navigator, N15m, MN240 worth N8.5m; Peugeot 406, valued at N2.9m; Mercedes CLK 320 worth N9m; Mercedes E320 valued at N11m; Mercedes G500 bullet proof worth N45m; Mercedes X500 worth N300m; Lexus jeep bullet proof valued at N30m and Lincoln Navigator bullet proof worth N25m

Senate President Bukola Saraki said yesterday that he was “extremely rich” before he became Kwara State governor in 2003.

He said he had $22million, about £12million, 2.6m Euro and about N4billion in cash in his various accounts.

Aside the liquid asset, Saraki said he also possessed landed property estimated at N2billion and 15 vehicles valued at about N263.4m.

He gave details of the vehicles he acquired as at 2003 to include: Mercedes X320, valued at N16m; Mercedes X500 worth N20m; Mercedes G500, valued at N6m; Mercedes V220 worth 2m and Ferrari456GT, valued at N25m.

Others are:

Saturday, May 7, 2016

Access Bank Boss, Herbert Wigwe, Sterling Bank M.D Yemi Adeola Regain Freedom From EFCC Detention

The Economic and Financial Crimes Commission (EFCC) has released the chief executive officers of two Nigerian banks after the men returned billions of naira they had illicitly acquired from political slush funds during the administration of President Goodluck Jonathan.

Access Bank M.D Herbert Wigwe Nabbed In Raid By Anti Corruption Agency, EFCC

Operatives of the Economic and Financial Crimes Commission on Friday afternoon raided the head office of Access Bank Plc in Victoria Island, Lagos.

The Group Managing Director, Access Bank, Herbert Wiwge, was said to have been picked by the operatives of the EFCC during the visit, TheCable reported.

Fidelity Bank M.D Nnamdi Okonkwo Regains Freedom From EFCC Detention

The Economic and Financial Crimes Commission (EFCC) has released the Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo.

Thursday, May 5, 2016

Sterling Bank M.D Yemi Adeola Detained After EFCC Raid

Agents of the Economic and Financial Crimes Commission yesterday raided the offices of Sterling Bank Plc. In Lagos to search for documents related to “a large-scale fraud,” according to a source at the anti-corruption agency. 

The source declined to provide specific details about the nature of the alleged fraud but told our correspondent that the EFCC decided to send operatives to comb through bank documents after careful investigation.

EFCC Places Oil Baron, Jide Omokore’s Wife, Angela Under Surveillance As Investigation Into Hubby’s Ill Gotten Wealth Rages On

Fame is alluring. Money is tempting. Glamour is fascinating and Angela Ebagua-Omokore basks in the hub of these guilty pleasures. The wife of oil magnate, Jide Omokore, has got the glamour habit and no degree of bad press would sully her enviable reputation.

Until her husband became a person of interest to the Economic and Financial Crimes Commission (EFCC), Angela’s passion for expensive necklaces and trinkets sparkled like a blazing ember, bright as the sun, and glittering like super-charged neon light. But soon after the EFCC swooped on her husband and recovered a staggering N407 million (£1.4 million) worth of jewelry from their residence, not a few people have begun to wonder if Angela’s obsessive love for expensive jewelry would continue to fluorish or die.

EFCC Storm Sterling Bank Head Office, Grill M.D Yemi Adeola For 2hrs As Investigation Into Achike Udenwa Continues

The operatives of the Economic and Financial Crimes Commission on Wednesday stormed the headquarters of Sterling Bank Plc in Lagos for an undisclosed investigation.

Wednesday, May 4, 2016

Ogun Lawmaker Adebiyi Adewale Dragged To Court By Constituents Over Allegations Of Forgery, Perjury

A member of the Ogun State House of Assembly representing the Remo North State Constituency, Adeleye Adewale Adebiyi, is being sued by Remo North residents in the Federal High Court of Abeokuta for presenting forged school certificates to the Independent National Electoral Commission (INEC) before the last April 11, 2015 election and for false age declaration. INEC will join Mr. Adebiyi as his co-defendant at a hearing, which will take place at the Federal High Court of Abeokuta on June 6, 2016.

Sunday, May 1, 2016

Fidelity Bank Returns Profit From $115m Clandestine Deal With Ex Petrol Minister Diezani Madueke As M.D Nnamdi Okonkwo, Others Remain In Detention With EFCC

Fidelity Bank has refunded profits from the $155m clandestine deal that earned managing director Nnamdi Okonkwo and other top level management of the financial institution detention by the Economic and Financial Crimes Commission.

According to trending details

Tension Grips Benin Residents Over Burial Rites For Oba Erediauwa

There was tension within the Benin metropolis and adjoining towns yesterday, following the announcement of the death of the Oba of Benin Kingdom, HRM Oba Erediauwa by the palace chiefs on Friday.