Business News
Six bank MDs in EFCC net over alleged N2billion fraud
Operatives of the EFCC from its Ilorin Zonal office have apprehended about 6 bank MDs over an alleged fraud of N2 billion.
At least six Managing Directors of Micro Finance Banks (MFBs) are currently in the Economic and Financial Crimes Commission (EFCC) custody over alleged N2billion fraud.
The EFCC operatives also arrested the Director-General of Kwara State Bureau of Small and Medium Enterprise Development, Segun Soewu, in Ilorin, the state capital.
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The arrested banks’ MDs are – Ogudu Samuel (Brightway Micro Finance), A.K. Imam Magajingari (Micro Finance Bank), Adeleke M.S. (Sincere Micro Finance Bank), Yusuf Muideen Balogun (Fulani Micro Finance Bank), Issa Abdulrasheed (KCMB Micro Finance Bank) and Oyebode Asimiyu (Apels Micro Finance bank).
The Acting Head of Media and Publicity of the EFCC, Tony Orilade, said the anti-graft agency went after the suspects upon discovery that the N2 billion, which was meant to serve as soft loan facility to boost small scale businesses across Kwara State, was distributed to highly placed politicians, traditional rulers and other prominent people across the 16 local government areas of the state.
Orilade said 50% of the loan was shared to a selected group of businessmen and women, who failed to pay back, as was originally conceived.
The EFCC spokesman added that the anti-graft agency was also probing five other persons over similar allegations.
According to him, those under the Commission’s radar are – Lawal Ayo (Omu-Aran Micro Finance Bank), Tope Eniola of Iludun (Micro Finance Bank), Lawal Folashade (Stockcarp Micro Finance Bank), Yusuf Tajudeen (First Heritage Micro Finance Bank, and Olawoye E.O. (Offa Micro Finance Bank).
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Prior to the development, the Acting Chairman of the EFCC, Ibrahim Magu, had lamented that fraudsters in Nigerian banks were aiding criminals to perpetrate financial crimes.
He said such fraudsters assisted politically-exposed persons to steal and launder public funds.
Magu added that there were “bad eggs” in the EFCC.
Coronavirus
COVID-19 Update in Nigeria
On the 24th of February 2021, 655 new confirmed cases and 11 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 153,842 confirmed cases.
On the 24th of February 2021, 655 new confirmed cases and 11 deaths were recorded in Nigeria.
To date, 153,842 cases have been confirmed, 130,818 cases have been discharged and 1,885 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 1.49 million tests have been carried out as of February 24th, 2021 compared to 1.44 million tests a day earlier.
COVID-19 Case Updates- 24th February 2021,
- Total Number of Cases – 153,842
- Total Number Discharged – 130,818
- Total Deaths – 1,885
- Total Tests Carried out – 1,489,103
According to the NCDC, the 655 new cases are reported from 21 states- Lagos (240), Ogun (88), Rivers (56), FCT (51), Kaduna (43), Kano (25), Plateau (21), Taraba (19), Edo (17), Abia (15), Delta (13), Nasarawa (11), Akwa Ibom (10), Kwara (10), Oyo (10), Kebbi (9), Borno (5), Bayelsa (4), Gombe (4), Ekiti (2), and Osun (2).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 55,122, followed by Abuja (19,115), Plateau (8,854), Kaduna (8,422), Oyo (6,708), Rivers (6,398), Edo (4,491), Ogun (4,277), Kano (3,716), Ondo (2,944), Kwara (2,875), Delta (2,539), Osun (2,326), Nasarawa (2,208), Gombe (2,031), Katsina (2,029), Enugu (1,998), Ebonyi (1,839), Anambra (1,615), and Abia (1,487).
Imo State has recorded 1,440 cases, Akwa Ibom (1,439), Borno (1,247), Bauchi (1,221), Benue (1,188), Niger (912), Ekiti (797), Sokoto (768), Bayelsa (767), Adamawa (762), Taraba (712), Jigawa (496), Kebbi (358), Yobe (268), Cross River (267), Zamfara (219), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.
Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.
On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.
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Appointments
Cornerstone Insurance Plc appoints Ogechi Adeola as Director
Dr Ogechi Adeola has been appointed as an Independent Non-Executive Director at Cornerstone Insurance Plc.
