Wednesday, 20 April 2016
Aviation workers ground Arik Air’s operations over N12.4 billion debt
Monday, 18 April 2016
FINALLY US agrees to return $480m looted by Abacha family, others to Nigeria
Already, the conditions for the repatriation of the cash and other details are being worked out. Also, it was learnt that the Department of Justice in the United States now has a Kleptocracy Unit, which assist to track looted funds and money laundered by public officials from Nigeria and other nations. According to The Nation, the planned repatriation is the outcome of the meeting between President Buhari’s Attorney-General of the Federation, Abubakar Malami (SAN), Chairman of the Economic and Financial Crimes Commission( EFCC), Mr. Ibrahim Magu the Department of Justice. “The US is likely to advise on specific areas to spend the funds on and the project monitoring mechanisms. It does not want the cash re-looted.” In the source’s view, there is no hiding place for Nigerian treasury looters in the United States anymore. “The Federal Government and the U.S. on January 14, 2003 signed the Treaty on Mutual Legal Assistance in Criminal Matters between the two nations. So, no corrupt public officers from Nigeria can hide in the US. “At the session with AGF and the EFCC boss, they told the Nigerian team that the DOJ now has Kleptocracy Unit which is closing tabs on Political Office Holders and other public officers in this country and many other nations.” Recall that the Criminal Division of the Office of International Affairs of the US Department of Justice, had in a letter to the Federal Government, identified the accounts where Abacha loot was hidden. The highlights are as follows: Doraville Properties Corporation – $287 million in Account Number 80020796 located at Deutsche Bank International Limited in the Bailiwick of Jersey; HSBC Fund Administration (Jersey) – $12 million in account number S-104460 in the Bailiwick of Jersey; and Rayville International, S. A – $1 million in account number 223405880IUSD at Banque SBA in Paris, France. Others are Standard Alliance Financial Services Limited – $144 million in account 223406510PUSD at Banque SBA in Paris; Mecosta Securities – $21.7 million in accounts 10030688 and 100138409 at Standard Bank in the United Kingdom; and HSBC Bank Plc – $1.6 million in account number 38175076. Also listed are Blue Holding (1) Pte Ltd/ Ridley Group Limited – £6,806,900; Blue Holding (2) Pte. Ltd/ Ridley Group Limited – £21,846,983; Blue Holding (1) Pte. Ltd/ Ridley Group Limited – £10,293,343.58; Blue Holding (2) Pte. Ltd/Ridley Group Limited – £56,962,996.26. It was learnt that the Abacha family had pledged to cooperate with the Federal Government.
JOHN LEGEND AND WIFE WELCOMES BABY GIRL
JEFFREY MAYER/WIREIMAGE
A baby Legend is born!
Model, TV host and newly-minted cookbook author Chrissy Teigen and her husband, musician John Legend, welcomed their first child on Thursday, April 14, they announced via social media Sunday. “She’s here! Luna Simone Stephens, we are so in love with you! And sleepy. Very sleepy,” Teigen wrote alongside a snapshot of the baby’s weight — 6 lbs., 11 oz. — and dated Thursday.Legend also tweeted the happy news on Sunday, writing, “Our new love is here! Luna Simone Stephens, born on Thursday, the 14th. We couldn’t be happier!”
Sunday, 17 April 2016
PANAMA PAPER SCANDAL: BUKOLA SARAKI, DAVID MARK,JAMES IBORI, OTHERS AMONG NAMES LISTED
The Federal Government has opened a file on all Nigerians whose names have been mentioned in the Panama Papers as operating offshore accounts in notorious tax havens. Some of the individuals listed in the papers so far are the current Senate President, Bukola Saraki; and his predecessor, David Mark.Others listed include Africa’s richest man, Mr. Aliko Dangote; his cousin, Saayu Dantata, and a former Minister of Defence, Lt.Gen Theophilus Danjuma (retd.) It was learnt that the Economic and Financial Crimes Commission had been gathering reports from local and international media as well as the responses being given by those named. It was also learnt that the EFCC would then carry out its independent investigation and involve INTERPOL if necessary. German newspaper, Süddeutsche Zeitung, had last Sunday released the Panama Papers, the biggest leak in the history of data journalism, publishing online 11.5 million documents from Panamanian law firm Mossack Fonseca, which showed how some prominent people across the world criminally hid money using anonymous shell corporations across the world. The story began back in February 2015, with an article in Süddeutsche Zeitung that revealed the German newspaper had a slug of secret files about offshore companies on the books of the Panamanian law firm Mossack Fonseca. Some 80 gigabytes of data about the firm’s customers had been received by the paper’s investigative reporters, Bastian Obermayer and Frederik Obermaier. The Panamanian law firm, regarded as one of the world’s most secretive companies, according to the documents, has helped clients launder money, dodge sanctions and evade tax. Already, the Nigerians involved have all denied complicity. In an exclusive report by online medium,Premium Times, it was alleged that about four assets belonging to the Saraki family, which included Girol Properties Ltd., Sandon Development Limited, and Landfield International Developments Ltd., were tucked away in secret offshore territories. For instance, the report stated that Girol Properties was registered on behalf of Toyin by Fonsecca on August 25, 2004, in the British Virgin Island, a year after her husband became the Governor of Kwara State. But the assets were allegedly not part of the ones declared by the Senate President or Toyin when Saraki became governor and after he was sworn in as the nation’s number three citizen. Similarly, at least eight offshore companies in the British Virgin Island have been linked to Senator Mark which he allegedly operated while holding public office, a criminal offence according to Nigerian laws. An impeccable source said the Federal Government was studying the body language of the international community and looking at how other countries were handling investigations. The source, who pleaded anonymity because of the sensitivity of the matter, said, “We are studying the matter closely. In fact, we have opened a file and all reports are being gathered. “We want all the names to be released first before launching full investigations. The issue is a tricky one. After preliminary investigations, we will seek advice from the Office of the Attorney General because investigations of such nature will need foreign collaboration.”
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