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How Emefiele Spent N1.7bn Defending Naira Redesign In Court – CBN Investigator

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An independent report has indicted the embattled former Central Bank of Nigeria Governor, Godwin Emefiele, of spending over N1.7 billion on legal fees for suits instituted against the naira redesign policy introduced during former President Muhammadu Buhari’s administration.

According to the report by The PUNCH on Friday, Emefiele spent questionable legal fees for 19 cases instituted against the policy.

The report quoted Emefiele as also using N1.325 billion, for what was described as “stolen pre-incorporation,” adding that the money was funneled to four companies, including a legal firm that got N300 million.

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Between 2015 and 2021, an investment company was said to have collected unlawfully a total of N4.89bn.

READ ALSO: Police Arrest Three Men With Two Human Hearts

A breakdown indicated that the firm received N262mn in 2015, N464mn in 2016, N550mn in 2017, N726mn in 2018, N762 in 2019, N684 in 2020, and N1.44bn in 2021, totaling N4.89bn.

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Continuing, the reports further indicted Emefiele of also allegedly paying N17.2bn to 14 deposit money banks participating in the Nigerian Electricity Market Stabilisation Facility.

Among the people who instituted an action against Emefiele on the policy were eight states, including Kaduna, Kogi, Zamfara, Ekiti, Kano, and Ondo, while disagreeing with the deadlines for the use of old Naira notes in the country.

The suit came as a result of the difficulties caused by the policy in the lives of citizens, the practicality of the deadline, and the constitutionality of the policy.

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READ ALSO: Military Destroys 68 Illegal Refining Sites In Niger Delta

Aside from the states, another litigant was a Lagos-based lawyer, Tope Alabi, who approached the Federal High Court sitting in Lagos for leave to initiate contempt proceedings against the ex-CBN governor for alleged disobedience of the Supreme Court orders on its naira redesign policy.

Alabi made the application via a March 27 ex parte motion in the suit, with Emefiele listed as the sole respondent.

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Describing the naira swap as a “cash confiscation policy,” he said it had affected the day-to-day running of his office as his staff could not make it to work daily due to the non-availability of physical cash, adding that commercial drivers “do not have a point of sale device/machine to collect fares.”

The lawyer filed a 28-page affidavit in support of his application wherein he claimed that the Supreme Court on March 10, in Suit No. SC. 162/2023, “directed Emefiele to make available and allow the old naira notes of N200, N500, and N1000 to co-exist as legal tender with the new N200, N500, and N1000 notes till December 2023.”

READ ALSO: FG Resumes Payment Of Arrears To N-Power Beneficiaries

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“The respondent who had withdrawn N200, N500 and 1000 old notes from circulation on 10 February 2023 has refused to comply with the Order of the Supreme Court made on 10 March 2023 till date by releasing the old notes to circulation.”

The document also stated, “The CBN also went further by authorising the issuance of debenture for the NESI SPV, starting with N64.8bn in 2015. By 2021, N952bn debenture had been issued. The investigator said the money was diverted from public funds.’’

It was further gathered that Emefiele could be tried for alleged manipulation of the naira exchange rate, fraudulent implementation of the e-naira project, and exemption of three foreign firms from paying income tax.
PUNCH

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Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

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Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.

Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.

He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.

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READ ALSO: Wale Edun Opens Up After Sack

Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.

“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”

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He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.

He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.

Watch the video here

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Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

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Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

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READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached

Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

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Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

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Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

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Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

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READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

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Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

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I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

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