Onochie’s attacks on Igbo monarchs sacrilegious, odious, says Ohanaeze by Raphael Ede

National Publicity Secretary, Ohanaeze Ndigbo Worldwide, Chief Chiedozie Alex Ogbonnia The apex Igbo sociocultural organisation, Ohanaeze Ndigbo, has called on the traditional ruler of Onitcha Olona in the Aniocha North council area of Delta State, Obi Christopher Uzu Diji, and the kingmakers of the community, to talk to the Senior Special Assistant to President, Major General Muhammad Buhari (retd.) on new media, Lauretta Onochie. It made the call in statement issued on Tuesday in responds to Onochie’s vituperation against Igbo traditional rulers and religious leaders for seeking the release of Mazi Nnamdi Kanu, leader of the Indigenous Peoples of Biafra. Onochie had in a statement last weekend gave reasons why the president would not heed the appeal, saying that the demand for the release of a “lunatic is as annoying as it is insulting to the memory of those who have lost their lives in a needless blood-letting in the South East of Nigeria. These are political neonates who are also, ignorant of the laws of our land. Where is their sense of decency? Where is their shame? Where is the truth that Christianity preaches? When will truth be released from jail?” But, in the statement by its spokesman, Alex Ogbonnia, Ohanaeze also called on the women wing of Ohanaeze Ndigbo and Umuada Igbo to “the nefarious activities of Lauretta Onochie with a view to whipping her back to normalcy.” The Igbo group said for Onochie to descend on revered traditional rulers and Archbishops by using such words as “neonates, ignorant, lack of sense of decency, hide face in shame, stupidity, among others …is to say the least unreflective, odious, warped, despicable and sacrilegious.” Ohanaeze pointed out that the letter of appeal to the President, Major General Muhammadu Buhari (retd.) by the Council of Traditional Rulers and the Archbishops was strong enough to attract the attention of President Buhari for a discussion with Igbo leaders on the way forward about Nnamdi Kanu and other security challenges in the Southeast. The organisation wondered why Onochie would make herself available for a hatchet job against the Igbo and assume the role of denigrating her kinsmen. The statement read in part, “Lauretta Onochie is from Onitcha Olona in Aniocha North Local Government Area of Delta State. The traditional ruler of her community is HRM Obi Christopher Diji. Onochie knows the reverence and honour that go with the titled men and traditional rulers in all the Igbo communities. Also, as a Christian, Onochie knows that the clergy men are the representatives of God here on earth. Therefore a letter jointly signed by the Igbo traditional rulers and the Archbishops should command the respect of even the most unscrupulous. It added, “The obnoxious role of denigrating one’s kinsmen to be fully ingratiated and assimilated in the other group is as old as mankind. However the entrepreneurs of betrayal have never ended well.” PUNCH

Ikoyi building: Lagos suspends GM, death toll rises to 20, families protest by Leke Baiyewu, Oluwatosin Omojuyigbe, Deji Lambo, Victor Ayeni, Adeyinka Adedipe

No fewer than 20 people have been confirmed dead in the 21-storey building that collapsed on Monday on Gerrard Road, in the Ikoyi area of Lagos State. The building crumbled around 2pm when workers were on the site. PUNCH Metro had reported that 10 people were feared dead when the incident happened, as many others were still trapped in the rubble, including the Managing Director, Fourscore Heights Limited, Mr Femi Osibona, who owned the building. The South-West Coordinator of the National Emergency Management Agency, Ibrahim Farinloye, on Tuesday, said a total of 20 bodies, including that of Osibona’s personal assistant, had been recovered. The state Commissioner of Police, Hakeem Odumosu, around 8pm on Tuesday, also confirmed that 20 corpses had been recovered. Nine people were said to have been rescued alive. Our correspondents learnt that three of the rescued victims had been released to their families, while others were being treated at the Lagos Island General Hospital, Marina. PUNCH Metro, however, observed as agitated family members of some of the victims protested against what they described as the slow pace of work at the scene. The aggrieved families and sympathisers urged emergency management workers to allow members of the public to help in the recovery process to increase the chances of saving more lives. They claimed that they were not allowed to identify the bodies recovered to know if their loved ones had been found or were still trapped in the rubble. One of our correspondents noted that during the protest, 10 men were selected to enter the premises to assist the responders. They were later chased out, an action that aggravated the crowd. PUNCH Metro learnt that a member of the National Youth Service Corps, identified only as Zainab, was among those trapped in the rubble. Her family members, who refused to speak to journalists, were seen bemoaning their fate. Journalists were also not allowed to enter the premises of the collapsed building. LASBCA, deputy Gov contradict, Sanwo-Olu suspends GM The General Manager of the Lagos State Building Control Agency, Mr Gbolahan Oki, in an interview with the News Agency of Nigeria, said the owner of the building got approval for 15 storey-building and not 21. He noted that inferior materials were used for the construction, saying appropriate actions would be taken. But the state deputy governor, during a visit to the scene on Tuesday, said the collapsed building was approved for 21-storey building three years ago. Hamzat disclosed that the building was sealed for four months in 2021 when the state government noticed some anomalies in the construction. He said, “The operation, as you can see is going on and we will not leave until we are able to account for everybody. We are responsible for the people of the state; our focus is on saving lives. “As a matter of fact, this place was sealed for about four months sometime last year from July to November because our agency came in to do structural tests and saw some anomalies and shut it down and said those things should be corrected. “They were making corrective actions when this happened. At the time this happened, they were not really constructing, but investigations later will show what really happened. “This particular building that collapsed was approved for 21 floors three years ago not 15 floors, it’s the construction that failed, apparently.” The deputy governor noted that the actual number of occupants of the uncompleted building at the time of its collapse was unknown. The Lagos State Governor, Babajide Sanwo-Olu, on Tuesday, ordered the indefinite suspension of the LASBCA GM over the incident. Sanwo-Olu, in a statement by the state Commissioner for Information and Strategy, Mr Gbenga Omotoso, said the government had also set up a panel to probe the tragedy. The governor said, “The government will surely find out what went wrong and punish those indicted. The governor, as a first step, has directed that the General Manager of the Lagos State Building Control Agency, Mr Gbolahan Oki, an architect, be suspended from work immediately. The suspension is indefinite.” He said more equipment and personnel had been deployed in the site to save more lives. The Inspector-General of Police, Usman Baba, during a visit to the scene, said anybody found culpable would be made to face the law. He said, “It’s a major incident and an unfortunate incident and there’s a rescue operation going on. “We need to strengthen regulations that are necessary when certain constructions are going to take place. “There’s going to be an investigation which will encompass professional touch and If anybody is found to have compromised, actions will be taken against them.” ‘Same person is consultant, architect’ The Chairman of Nigerian Red Cross, Lagos State chapter, Adebola Kolawole, urged the rescue teams to quickly recover the people under the rubble. She said, “The rescue teams should do something fast; as fast as they can because time is limited. If they don’t bring them out, they’ll be suffocated and they’ll eventually die. We don’t pray for that. We pray that God will bring them out.” The state Chairman of the Nigerian Institute of Architects, David Majekodunmi, called on the state government and regulatory bodies to put strict building regulations in place to avoid a recurrence. Majekodunmi, who faulted the signage of the building construction, noted that the numbers on the construction signage showed that same person was the consultant and the architect. He said, “If the regulatory bodies had seen this signboard and done the needful, maybe we would be able to know who we are accusing or who to hold responsible for this mayhem.” Lagos not aware of project designer’s withdrawal, says commissioner The original designer of the project, Prowess Engineering Limited, had in February 2020 written to the Managing Director, Fourscore Heights Limited, Osibona, saying his firm was withdrawing from the building because it could no longer guarantee its integrity. Asked if the government was aware of the letter, the state information commissioner, Omotosho, said no official saw the letter before the incident. He said, “I have also seen the letter on the social media, but I am not sure the Lagos State Government was copied. I think it is a letter between the client and the builder, but no Lagos State official has confirmed seeing such a letter.” Omotosho also insisted that the government did not approve the reopening of the construction site after it was sealed by the government. “The guy (building owner) was not following the rules and they (government officials) went there and sealed it off in June 2020, and they didn’t go back to the place to reopen it until November 2020; it was reopened for them to be able to make some corrections on the lapses that were observed. “There was no sign that they were continuing with the building as they had not got the go-ahead to continue with the construction,” he added. On the whereabouts of Osibona, the state police commissioner, Odumosu, said the command could not tell if the developer was also trapped in the rubble. He, however, said no arrest had been made in connection with the incident. “The rumour is that he (developer) was part of the victims of the collapsed building. But until we see all the corpses or he is part of the rescued victims, I can’t confirm authoritatively,” he added. Gbajabiamila, Tinubu, Obaseki demand probe, commiserate with victims The Speaker of the House of Representatives, Femi Gbajabiamila, on Tuesday, expressed sympathy over the building collapse. Gbajabiamila, in a statement, said it was unfortunate that the incident happened at a time the state government was doing everything possible to make the lives of Lagosians safer. He called for adequate measures to forestall future occurrence while urging relevant authorities to double their efforts at rescuing those trapped in the multi-storey building. The National Leader of the All Progressives Congress, Bola Tinubu, urged the state government to investigate the circumstances surrounding the building collapse. While backing Sanwo-Olu’s probe of the tragedy, Tunde Rahman, the spokesperson for Tinubu, in a statement on Tuesday, said the former governor would not to prejudge anything or anyone. The statement read, “This tragedy should never have occurred. Workers at the site and, for that matter, no one who is simply trying to work in order to care for their loved ones, should have their lives abbreviated in such a manner. No one should suffer what these people suffered. Nor should families have to hear such news and bear such a burden like this. “There are many questions to ask, and all those questions deserve full and public answers. We must get to the bottom of this ghastly occurrence. “If indeed intentional or reckless wrongdoing has been committed, severe and appropriate sanctions should find those who have been found to have shirked their fundamental responsibilities. The departed, their grieving families and the people of Lagos deserve no less and should perhaps demand even more.” The Edo State Governor, Mr. Godwin Obaseki, commiserated with Sanwo-Olu, the families of victims and Lagos residents over the incident. He urged the authorities to beef up emergency operations to ensure the rescue of those still trapped under the rubble. Another building caves in Meanwhile, a section of a two-storey building under construction caved in around Osapa London in the Lekki area of the state on Tuesday. The building, which was under construction, reportedly caved in after the downpour of Monday night. As of the time this report was filed, no casualty was reported from the incident. ,, PUNCH

APC convention date shaky, party battles crises in 13 states by John Alechenu, Victor Ayeni, Dennis Naku, Abiodun Nejo, Daud Olatunji, Patrick Odey, Ada Wodu, Tunde Oyekola, Tukur Muntari, Bola Bamigbola, Matthew Ochei and Sunday Nwakama

The ruling All Progressives Congress has yet to decide on the date for its national convention, The PUNCH has learnt. It was gathered on Tuesday that among the issues delaying the convention was the fact that the Anambra and Zamfara State chapters of the party had yet to conduct membership registration/revalidation as well as congresses. The APC leaders, who confided in our correspondents, said multiple cases arising from the party’s state congresses contributed in no small measure to the uncertainty over the convention date. Party members in no fewer than 13 states, where parallel congresses were held, on Tuesday, said they would not withdraw court cases they filed to challenge the congresses. Other aggrieved members stated that although they did not file any suit, they expected party leaders to ensure justice in resolving the crises that arose from the congresses. The APC had on July 31, 2021 held its ward congresses, followed by local government congresses on September 4, and state congresses on October 16. It was gathered that the national convention, which was initially scheduled to hold in December 2020, was postponed till June 2021 after a meeting of the National Executive Committee of the party, which was presided over by the President, Major General Muhammadu Buhari (retd.), and held at the Presidential Villa, Abuja, on December 8, 2020. The Governor Mai Mala Buni-led Caretaker/Extraordinary National Convention Planning Committee was inaugurated in June 2020 and given six months within which to conduct the convention. It was given an additional six months on December 8, 2020, which expired in June 2021. However, when this lapsed on June 26, 2021, another NEC meeting presided over by Buhari approved an indefinite timeline for the committee to achieve its objectives. The new Chairman of the Peoples Democratic Party, Senator Iyorchia Ayu, shortly after his election at the party’s national convention on Sunday, mocked the APC over its inability to hold a national convention. Ayu said the ruling party had produced 92 chairmen in the 36 states of the federation. Sources in the APC said on Tuesday the party would not rush to hold its national convention and land itself in a bigger crisis. “We have many things to resolve. It is after we have done those things that we can announce the date for the convention,” a party leader stated. If we hold convention and leave out some states, they can go to court – National secretary The National Secretary of the CENCPC, Senator John Akpanudoedehe, in an interview with one of our correspondents, said the party needed to tidy up some things before holding its convention. For instance, he said the party had not conducted membership registration and revalidation in Anambra and Zamfara states. Akpanudoedehe stated, “Go and look at our party constitution. If we hold our convention and exclude only one state, then someone can go to court and say they were left out. “You know because of the Anambra State election, we did not conduct our membership registration and revalidation in Anambra. “We did not do the same in Zamfara State too. We have to conduct these in the states before the convention. Every state must be carried along. “There is no way you can exclude one state and say it is a valid convention. There are a lot of things we need to tidy up before the convention; congresses must be tidied up. Appeals must also be tidied up to guide the process of the convention. “It is not because some people are agitating for a convention that we will rush to do something that will create more problems. This new car (APC) that we have bought, we cannot give it to a careless driver to go and crash it; we cannot.” The national secretary also said unlike the PDP, the APC was not likely to hold zonal congresses. When asked if the APC would hold zonal congresses, he stated, “You are bringing the PDP template. The APC doesn’t do zonal congresses; every national officer is elected from the state; if it is something that we will consider, we will let you know. It is not something we are considering; it is not what we do, but it is something to think about.” On the issue of parallel congresses, the party scribe said, “I said it before and I want to repeat it, there is nothing like parallel congress in our party. “The constitution spells it out so; Article 18 empowers us to hold congresses, as well as articles 19 and 20; that is the position of the party. “We have a President in the person of Muhammadu Buhari, who is known worldwide as a respecter of the law. We also have a chairman, in the person of Governor Mai Mala Buni, a gentleman to the core, who equally insists on proper things being done; you cannot present illegality before these men and expect to succeed. “We set up committees to go to states to conduct congresses, anything outside this, you are on your own; to even ask any question about the so-called parallel congresses is an attempt to destroy the APC. “Any person or group within our party, who has an issue with the congresses, has an opportunity to seek redress at the level of appeal; that is why appeal committees were set up. Those who feel aggrieved one way or the other can take advantage of the Senator Abdullahi Adamu committee. “You cannot do something outside the constitution and expect to succeed. I have said so many times that we are structured. “I will repeat for the last time, anything outside what we have done in terms of ward, local government and state congresses is a nullity; that doesn’t mean where we have disagreements we will not intervene; that is why we have the Adamu committee. “The APC is a family; we are bound to have disagreements among our family members, but we will reconcile ultimately; that is the beauty of our party that is progressively democratic.” He also mocked the opposition PDP for saying it was prepared to defeat the APC come 2023. “How can a party, while it was in power, one of its ministers bought a brassiere for millions of naira using public funds talk about beating a party, which is using public funds to rebuild the nation and restore hope?” Akpanudoedehe queried. Aggrieved members of the party under the aegis of Concerned APC members, however, advised the party’s leaders to take a cue from the opposition PDP to conduct a convention that would restore its democratic credentials. The spokesman for the group, Abdullahi Dauda, in a telephone interview in Abuja, on Tuesday, said, “We have no excuse not to have elected party leaders by now. “We are the progressives, but recent actions and inactions have called to question our credentials; we need to have our convention sooner and not later than December this year.” Factions adamant in states Despite the warning by the APC national leaders, factions of the party in Rivers, Ekiti, Ogun, Oyo, Cross River, Akwa Ibom, Lagos, Delta, Osun, Kano, Abia, Zamfara and Kwara states are still battling for supremacy. In Rivers State, factions led by the Minister of Transportation, Rotimi Amaechi, and Senator Magnus Abe elected different executive councils. While Abe’s faction has as its chairman a former member of the Rivers State House of Assembly, Golden Chioma, the Amaechi faction elected Emeka Beke as chairman. Asked if the faction would go to court to challenge the parallel executive, the Publicity Secretary of the Amaechi faction, Chris Finebone, told one of our correspondents that the party would take appropriate actions after the inauguration of the executive council. Chioma, however, claimed that he was not aware of any faction, pointing out that congresses were held at the state, local government and ward levels, where party officials emerged. In Kwara State, the party is divided into factions led by Governor AbdulRahman AbdulRazaq, and the Minister of Information and Culture, Lai Mohammed. The Vice Chairman of the minister’s faction, Chief Sunday Oyebiyi, told The PUNCH on Tuesday that though the faction had not filed a fresh suit on the congresses, it was waiting for the decision of the court on the suit earlier filed by the former chairman of the party, Bashir Bolarinwa, on his alleged illegal removal. The Chairman of the APC in Ekiti State, Paul Omotoso, and the state Chairman, South West Agenda for Asiwaju 2023, a pro-Bola Tinubu group, Senator Tony Adeniyi, disagreed over the suit filed by aggrieved party members challenging the conduct of ward congresses in the state. While Adeniyi ruled out the possibility of withdrawing the court case, saying the state APC leadership had continued to display arrogance despite its unconstitutional act, Omotoso, who said the aggrieved members had nothing to contest in court over the ward congresses, said, “Withdrawal of the case lies with the petitioners.” A chieftain of the APC in Akwa Ibom State, Group Capt Sam Ewang (retd.), said the party must resolve the crisis in its state chapter. “It’s either the crisis is resolved or the party is dead. If the national body cannot resolve it, they should expect the party to be dead in Akwa Ibom State,” he stated. A factional APC Chairman in Cross River State, John Egbeji, said he expected the party to resolve the crises arising from the congresses. In Kano State, Alhaji Ahmadu Haruna Danzago, the newly-elected factional Chairman of the APC led by a former governor, Ibrahim Shekarau, insisted that the faction was recognised by the national leaders of the party. Efforts to contact the state Chairman and Secretary of the APC faction loyal to Governor Abdullahi Ganduje, Abdullahi Abbas and Ibrahim Sarena, respectively, proved abortive as they did not take several calls made to their mobile telephones. Lani Baderinwa, the secretary of the APC faction in Osun State backed by the Minister of Interior, Rauf Aregbesola, said the group had challenged the last local government congress of the party in court. Baderinwa, who said there was no negotiation between the faction and the one supported by Governor Adegboyega Oyetola, added that the matter instituted against the congress at the Federal High Court, Osogbo would progress unhindered. The spokesperson for the Lagos State chapter of the party, Mr Seye Oladejo, said, “It should be the business of the aggrieved to seek redress within the confines of the platforms provided by the party. It’s advisable that they strictly adhere to this if they’re truly committed party men.” But the spokesperson for the Lagos4Lagos Movement, Mr Seun Soyinka, told one of our correspondents that the court would only be an option if the national body failed to dispense justice. The faction loyal to a former governor of Ogun State, Ibikunle Amosun, said the national leadership of the party would recognise the faction, because its representatives conducted the state congress. But the faction loyal to Governor Dapo Abiodun kept mum on the lingering crisis over the party structure. In Delta State, the party is divided into factions led by the Deputy President of the Senate, Ovie Omo-Agege, and the Minister of State for Labour and Employment, Festus Keyamo, SAN. The immediate past Chairman of the party in Abia State, Donatus Nwankpa, told one of our correspondents that the party did not have factions in the state. He, however, advised the national leadership of the party to reject reactionary elements to ensure genuine reconciliation. PUNCH

Banks begin deduction of loans from chronic debtors’ accounts by Nike Popoola

The Deposit Money Banks are recovering debts owed by chronic debtors from their accounts in other banks to curb the growth of non-performing loans in the industry, findings have revealed. Figures obtained from the Central Bank of Nigeria and the National Bureau of Statistics showed that the NPLs in the banks recorded a slight decline from N1.2tn at the end of second quarter of 2020 to N1.1tn at the end of July 2021. This is despite an increase in the gross loans in the industry in the period. The CBN said the measures it introduced such as the Global Standing Instruction to reduce banking sector risks was helping to reduce the NPLs in the sector. According to the CBN, the GSI, which commenced on August 1, 2020, allows banks to recover the outstanding principal and interest upon default from any account maintained by the debtor across all financial institutions in Nigeria. It said the slight improvement reflected the strengthening of risk management practices, the GSI policy and regulatory forbearance that had allowed banks to restructure credits impacted by the COVID-19 pandemic. Figures obtained from the NBS on banking sector for Q3 2020 showed that while the gross loans in the lending industry stood at N18.9tn, the total non-performing loans stood at N1.2tn. The latest figures from the CBN showed that while the gross loans rose to N22.2tn, the NPLs fell slightly to N1.1tn. The CBN said in the latest Monetary Policy Committee report that it would not raise the lending rates in the sector. “On loosening, the committee felt that this would lower retail interest rates and improve the ability of obligors to repay their obligations, with a complementary reduction in NPLs,” it said. “CBN staff report indicates that the banking sector’s non-performing loan ratio has fallen from 6.3 per cent in February to 6.0 per cent in March and further to 5.9 per cent in April.” The MPC noted that the capital adequacy ratio and the liquidity ratio both remained above the prudential limits at 15.2 and 41.7 per cent, respectively at the end of July 2021. The committee also welcomed the improvement in the NPL ratio at 5.4 per cent in July 2021, compared with 5.7 per cent in June. The committee urged the banks to sustain current efforts to bring the NPLs below the 5.0 per cent prudential benchmark. PUNCH.

Reps to invite CBN as Accountant-General pegs exchange rate at N425 by Leke Baiyewu

The House of Representatives’ Committee on Finance has resolved to invite the Central Bank of Nigeria over an allegation by the Office of the Accountant-General of the Federation that the apex bank collects charges on foreign exchange meant to be paid to Nigerian diplomats across the world. The Accountant-General of the Federation, Ahmed Idris, made the allegation in Abuja on Tuesday while appearing before the committee to defend his office’s estimates in the 2022 Appropriation Bill. Idris said, “We also have another leg of personnel costs, which, for the first time, is being introduced in the budget of our office, which is the foreign service personnel in all the Nigerian missions and embassies abroad, which is also N4.747bn. In total, we have N9.089bn as personnel costs budget.” He noted that the foreign service element used to be with the Ministry of Foreign Affairs, saying, “But with some administrative changes, this has now been shifted to our office. The Chairman of the committee, James Faleke, asked why the OAGF proposed to pay foreign attaches at the exchange rate of N425/$1 when the 2022 Appropriation Bill presented by the President, Major General Muhammadu Buhari (retd.), was based on N410/$1. Responding, Idris blamed the development on charges by the CBN. He said, “The exchange rate is slightly higher because despite all these, we say we still encounter certain charges by CBN itself. There are charges by CBN; we cannot run away from that. And it is obvious; our records are there. We can verify this. “Yes, the exchange rate is pegged at this (N410/$1) but the CBN…one way or the other, you have to pay a bit higher, yet lower than the black market rate. That is why we jacked it up slightly.” Faleke, however, dismissed the explanation, saying, “Accountant-General, your statement is very pregnant. If the law says N410 to a dollar, there is no reason for you or your agency to pay anybody higher than that on an official assignment. And the CBN cannot flout the law of the land. Appropriation (Act) is a law. I think you need to get further clarifications on that. “We would invite the CBN to come and clarify. It is a very serious issue that if we are talking about controlling our inflation rate in this country and the cost of doing business or cost of governance, and the CBN would be charging double rates, different from the actual approved rate, then that would be a serious issue.” Idris said he would volunteer documentary evidence to explain the charges by the CBN. Another lawmaker, Blessing Onuh, asked why the OAGF budgeted over N30m for cleaning and fumigation of its offices. Idris said, “On cleaning and fumigation which is proposed at N36m, we have offices in all the 36 states of the federation. We have six zonal offices. We have our own headquarters. We have the Federal Treasury Academy, which is an institution with a lot of bushes. Now, even at an average of N1m per annum for fumigating these offices, I think that amount proposed is grossly low.” He described the OAGF as “an institution that is bigger than most of these private universities we see…with a lot of bushes and forests because it occupies an expanse of land of about 70 to 80 hectares, with buildings around, with snakes around, with reptiles.

Interpol declares CEO of SEC-approved Addy Ltd wanted for multibillion-naira investment fraud by OYINDAMOLA OLUBAJO

The Interpol section of the Nigerian Police Force has declared Nigerian businessman Adams Uju wanted for duping investors N52 million and $28,000, respectively, part of a multibillion-naira fraud he has been accused of by victims. A warrant of arrest issued for Mr Uju, 42, by the Lagos Division of the Federal High Court stated that he defrauded victims through his company, Addy Finance & Investment Limited, registered under the Fund Managers Association of Nigeria (FMAN). “He is wanted by the police for the offence of obtaining money under false pretence and investment fraud in Addy Finance & Investment Limited with the sum of fifty-two million naira only and twenty-eight thousand dollars respectively,” a notice issued by the Interpol stated.

FMAN represents the interest of all Securities and Exchange Commission (SEC) registered Funds and Portfolio Managers in Nigeria. CHIVE GPS, an intelligence research analysis firm based in Lagos, initiated the petition on behalf of the victims. An intelligence research analysis firm based in Lagos. He was declared wanted following a June 28 petition by Charles Mba and other investors. They transferred the funds into Mr Uju’s company account after seeing an investment advert on the Internet, including social media platforms. The total amount involved in the alleged fraud was unclear, but sources said Mr Uju fleeced his victims to the tune of billions of naira. Mr Uju, however, through his company, did not pay back the investors’ fund and the expected returns on investment. “Oblivious of the fraud ahead, our clients transferred the sum of fifty-two million naira and twenty-eight thousand dollars respectively at various times into the account of Addy Finance. The so-called investment was supposed to last for six months. However, Adoms of Addy Finance failed to pay them back the invested capital or return on investment and elected to be evasive,” the petition stated.

The victims argued that even though the company had been certified by the Securities and Exchange Commission, it is an organised Ponzi scheme packaged as a legitimate business. “We believe this was simply an organised Ponzi scheme, packaged and promoted as a legitimate business, targeted at Nigerians all over the country who believed the falsehood of Adoms,” the victims added. Temitope Moshood, a representative of FMAN, told The Gazette that they were aware of the matter but said SEC should be contacted for comments. Earlier in June, some investors yet to receive their return on investment took to the company’s Twitter page to lament their inability to log in to the platform, claiming that Addy Finance has also cut off other forms of communication. However, on June 18, a user identified as @Rhymmz shared a screenshot of a message he received from the company. “Kindly note that the delay in payment right now is due to the fact that our accounts has been put on PND (post no debit) because of the petition written by some investors, hence payment cannot be made for now,” it said. SEC had in April cautioned Nigerians against investing in unregistered online platforms claiming to be operating in partnership with Capital Market Operators registered with the commission. But the commission is now silent when told by The Gazette that Mr Uju registered his business with the regulator. “The attention of the SEC has been drawn to the existence of several providers of online investment and trading platforms which purportedly facilitate direct access of the investing public in the Federal Republic of Nigeria to securities of foreign companies listed on Securities Exchanges registered in other jurisdictions,” SEC said in a circular addressed to Capital Market Operators. “These platforms also claim to be operating in partnership with Capital Market operators (CMOs) registered with the Commission,” the statement said. SEC’s spokeswoman Efe Ebelo, when contacted by The Gazette, declined to comment on the matter, requesting some time to speak on the matter. She had yet to do so as of the time of filing this report. In recent months, several investors have been accused of defrauding investors of multi-million naira and being on the run. Peoples Gazette in August reported that a couple of entrepreneurs, Gloria Igberaese and Muyiwa Folorunsho, were declared wanted by Interpol over their involvement in multi-million dollar investment fraud. The entrepreneurs are said to be the CEOs of Divergent Enterprise operating businesses such as Landlagos, PorkMoney, Hyberfactory, and Porkoyum, among other companies that they allegedly used to fleece thousands of Nigerians in a slew of Ponzi schemes linked to them.

Buhari, Tinubu meet in Aso Rock By Johnbosco Agbakwuru

PRESIDENT Muhammadu Buhari on Sunday morning met with the national leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu at the Presidential Villa, Abuja. The APC national leader arrived at the residence of the Presidential Villa, at about 11 am and the meeting lasted for about one hour. The agenda of the closed-door meeting was not made public but it may not be unconnected to the activities of the ruling party as regards its convention and the zoning of the political offices, especially the presidency for the 2023 elections. The APC national leader came alone this time, unlike the previous visits he normally comes with the pioneer interim chairman of the party, Chief Bisi Akande. The visit also came a few hours after the main opposition Peoples Democratic Party, PDP, concluded its rancor-free convention at the Eagle Square, Abuja, where most of the positions were through consensus. Recall that President Buhari had a few months ago, visited the APC national leader in London when the latter was said to be receiving medical treatment. Vanguard News