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The post Neco 2015/2016 Civic Education Obj and Essay Live appeared first on Naijabams.
Six officials of the Central Bank of Nigeria (CBN) and 16 others from some commercial banks are to stand trial for alleged N8 billion fraud, the Economic and Financial Crimes Commission (EFCC) said yesterday.
The anti-graft agency alleged that the suspects recirculated defaced and mutilated currencies.
The Head, Media and Publicity of the EFCC, Wilson Uwujaren, in a statement on Sunday said “The suspects drawn from various business units of the apex bank are to be arraigned by the anti-graft agency before a Federal High Court sitting in Ibadan, Oyo State, from Tuesday June 2, 2015 to Thursday June 4, 2015.
“They include Patience Okoro Eye (Abuja), Afolabi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran Muniru Adeola (Ibadan), Fatai Yusuf, Adekunle (Head, Security, CBN, (Ibadan) and Ilori Adekunle Sunday (Akure).
“The remaining 16 suspects are drawn from various commercial banks who were found to have conspired with the CBN executives to swing the heist.
“All the suspects who are currently in the custody of the EFCC are now ruing the day they literally allowed greed and craze for materialism to becloud their sense of judgment and responsibility, when they elected to help themselves to tons of defaced Naira notes.
“Instead of carrying out the statutory instruction to destroy the currency, they substituted it with newspapers neatly cut to Naira sizes and proceeded to recycle the defaced and mutilated currency.
“The fraud is partly to blame for the failure of government monetary policy over the years as currency mop-up exercises by the apex bank failed to check the inflationary pressure on the economy”.
Mr. Uwujaren gave further details on how the fraud was perpetrated by the suspects.
The statement added: “The lid on the scam, which is widely suspected to have gone on unchecked for years, was blown on November 3, 2014 via a petition to the EFCC alleging that over N6, 575, 549, 370.00 was cornered and discreetly recycled by light fingered top executives of the CBN at the Ibadan branch.
“The suspects, who were members of the Briquetting Panel, plotted their way to infamy on September 8, 2014 while carrying out a Briquetting exercise at the CBN Branch, Ibadan.
“In banking parlance, Briquetting is disintegration and destruction of counted and audited dirty notes. By this practice, depositor banks usually take mutilated notes to the CBN in exchange for fresh notes equivalent of the amount deposited.
“The depositor banks, in this instance, are Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank
“But while carrying out the assignment, the team was alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1000 notes”.
A similar case, according to investigation, had been discovered on September 22, 2014 when a box that was supposed to contain N500 notes to the tune of N5billion was filled with old newspapers.
“Unlike in the past, this fraud could not be swept under the carpet, as a member of the Briquetting Panel from the Osogbo branch blew the lid on the illicit deal.
“In a statement, the informant stated that the exercise was designed to last between August 4 and 8, 2014. The 35-year-old, however, stated that she discovered a strange ‘sight’ while opening the third box on the second day of the exercise. It was a discovery that beat her ken.
“She added that she confronted the other members of the panel, including Eye, Head, Briquetting Panel; Treasury Assistant; Coordinator and Head, Security, CBN, Ibadan, who all assured her that they would look into it.
“But she later found out that it was all a ruse. She said she later found out that Eye not only maintained sealed lips over the matter but omitted it from her report.
“A five-count charge awaait the suspect’
The post N8bn Dirty Notes Fraud: EFCC Set To Arraign Six CBN Officials, 16 Bankers appeared first on Naijabams.
The newly appointed Senior Special Assistant to the President on Media and Publicity, Garba Shehu, on Sunday said President Muhammadu Buhari had yet to move to the Presidential Villa, Abuja because his official residence was not ready for habitation.
Shehu, who made this known in an exclusive interview with PUNCH, said workers were currently cleaning and refurbishing the President’s official residence also known as Aso Rock Villa.
He said President Buhari would not move in until that exercise was completed.
Shehu said, “As far as the President is concerned, the place (his official residence) is not ready yet.
“Workers are cleaning and refurbishing the place.
“Once the exercise is completed, the President will move in”.
In response to a question of how soon Buhari would move in, Shehu said he believed it would not take time.
The post Why Buhari Hasn’t Moved To Official Residence – Shehu appeared first on Naijabams.
Kim Kardashian is pregnant with baby no 2.Kim, shared the good news right at the end of Sunday’s mid-season finale of Keeping Up With The Kardashians.
In a teaser clip, Kim is seen being told she’s expecting again during a doctor’s appointment.
The excited and happy reality star tells her stunned sister Khloe:
‘I just got the blood test back, and I am pregnant
The post Kim Kardashian is Finally Pregnant Again appeared first on Naijabams.
The Economic and Financial Crimes Commission (EFCC) has arrested six top officials of the Central Bank of Nigeria (CBN) and 16 workers of some commercial banks in the country over an N8 billion scam.
The anti-graft agency accused the suspects of stealing and putting defaced and mutilated Naira notes to the tune of N8 billion meant for destruction, back into circulation.
All the suspects have already been taken into EFCC custody. They will be arraigned at the Federal High Court, Ibadan, tomorrow.
A statement signed by the Head of Media of the EFCC, Mr. Wilson Uwujaren, gave the names of the suspects as: Patience Okoro Eye (Abuja), Afolabi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran Muniru Adeola (Ibadan), Fatai Yusuf, Adekunle (Head, Security, CBN (Ibadan) and Ilori Adekunle Sunday (Akure).
The suspects were said to have burnt old newspapers in place of defaced Naira notes.
The 16 suspects, who colluded with the CBN officials to commit the fraud, are officials drawn from Zenith Bank, FCMB, Wema Bank, Access Bank, FirstBank, Skye Bank, Ecobank and Sterling Bank.
The post 6 CBN Officials And 16 Others Arrested By EFCC Over N8bn appeared first on Naijabams.
The Catholic Secretariat of Nigeria has commended President Muhammadu Buhari for flying economy class,urging him to bar public officials from flying first class with public funds..They also called on the new leader to rescue the masses “from the emperors called governors”.
In a statement through its two organs, Catholic Caritas Foundation of Nigeria and Justice Development and Peace Commission,while congratulating Buhari on his inauguration they said..
“We welcome the fact that Buhari flew back to Nigeria in an economy class, and urge that a directive be issued as quickly as possible that no public official should travel first class with public funds, as this action alone can save millions of Naira which could transform whole communities.
“We believe that having been proven to be corruption-free, Muhammadu Buhari is in the best position to lead a moral revolution that will strengthen the institutions of state and the rule of law and lead Nigeria into a pride of place in which the black man will be respected all over the world.”
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