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Security Agencies Prepare to Treat Yahaya Bello as Ordinary Citizen
In a recent development, multiple security agencies including the Nigeria Immigration Service, Department of State Services (DSS), and Nigeria Customs have taken action to monitor the movements of former Kogi State governor, Yahaya Bello. Bello has been placed on a watchlist to prevent him from departing the country.
This decision has raised questions about the reasons behind such measures and has sparked discussions regarding the implications for Bello’s political career. Additionally, there is curiosity about who might be the next individual on the security watchlist.
Feel free to tag the next governor in the comments section. The anticipation of further developments adds to the ongoing discourse surrounding this situation.
IMF Reports $12 Billion in Financial Losses from Global Cyberattacks Over 20 Years
The International Monetary Fund (IMF) revealed that financial institutions worldwide have lost $12 billion to cyberattacks over the past two decades.
The figures come from the IMF’s latest Global Financial Stability Report in April 2024. Of the total losses, $2.5 billion occurred between 2020 and the first quarter of 2024.
The IMF expressed concern over the growing frequency of cyberattacks on financial firms, warning that these attacks could shake confidence in the economic system and disrupt economies.
“Financial firms have sustained substantial losses, totaling nearly $12 billion since 2004 and $2.5 billion since 2020,” the IMF noted.
The report highlights that attacks on financial institutions account for almost 20% of total cyber incidents, with banks being the most vulnerable. Disruptions in the financial sector can impact financial and economic stability by undermining trust in the system and interrupting critical services.
For instance, a cyberattack on the Central Bank of Lesotho in December disrupted the national payment system, halting transactions for domestic banks.
The report also points out that financial firms in advanced economies, especially in the United States, face higher exposure to cyber threats compared to those in emerging markets and developing economies.
Bobrisky’s Brush with the Law: What Happens if Guilty of Naira Shenanigans, According to EFCC!
Guess what’s making headlines? The Economic and Financial Crimes Commission (EFCC) just scooped up none other than the famed crossdresser, Idris Okuneye, popularly known as Bobrisky, on Thursday, April 4th! So, what’s the buzz about? Well, it turns out Bobrisky got into hot water for what’s called “naira mutilation” – basically, throwing around cash in public.
The EFCC got wind of Bobrisky’s cash-spraying antics at the premiere of a movie by Nollywood actress Eniola Ajao on March 24, 2024, and they weren’t too thrilled about it. But get this – it seems this isn’t Bobrisky’s first rodeo. Nope, he’s allegedly been making it rain at other events too!
Now, here’s the kicker: Barrister Stanley Alieke, a human rights champ, spilled the beans in an exclusive chat with Legit.ng. He revealed that anyone caught tossing cash like confetti could be looking at a stint in the slammer – yup, six months behind bars!
But hold up, there’s a twist! The police say they can’t just nab Bobrisky and fellow crossdressers left and right. Why? Well, they’re waiting on some solid evidence to back up the claims that they’ve been up to no good. It’s like trying to win a court case without all the right proof – tough luck!
So, there you have it – Bobrisky’s cash-flinging escapades have landed him in some serious trouble, but will he walk the plank or come out shining? Stay tuned for the latest on this glam saga!
Tinubu Meets With APC Govs At Aso Rock
President Bola Ahmed Tinubu is currently holding his maiden meeting with governors of the ruling All Progressives Congress (APC) under the aegis of the Progressive Governors’ Forum (PGF).
The meeting, being held in the Council Chamber of the Presidential Villa, Abuja, is attended by Vice President Kashim Shettima.
In attendance are PGF Chairman and Governor of Imo State, Hope Uzodinma, Babajide Sanwo-Olu (Lagos), Abdullahi Sule (Nasarawa), Umar Namadi (Jigawa), Inuwa Yahaya (Gombe), Yahaya Bello (Kogi), Professor Babagana Zulum (Borno), and Mai Mala Buni (Yobe).
Others are Uba Sani (Kaduna), Dikko Radda (Katsina), Father Hyacinth Alia (Benue), AbdulRahman AbdulRazaq (Kwara), Dapo Abiodun (Ogun), Umar Bago (Niger), Aliyu Ahmed (Sokoto), Francis Nwifuru (Ebonyi) and Bassey Otu (Cross River)
Credit to: Dailytrust
STATE HOUSE PRESS RELEASE PRESIDENT BUHARI RECEIVES IZE-IYAMU, URGES APC TO AVOID RIVERS, ZAMFARA EXPERIENCES
President Muhammadu Buhari Friday in Abuja received the governorship candidate of the All Progressives Congress (APC) in Edo State, Pastor Osagie Ize-Iyamu, urging party leaders and campaign team to do all that is necessary, following legal and constitutional means, to win the election.
President Buhari received the governorship candidate at the State House alongside Caretaker Committee Chairman of the APC and Governor of Yobe State, Mai Mala Buni; Chairman of Progressive Governors Forum and Governor of Kebbi State, Abubakar Atiku Bagudu, and APC Campaign Chairman for Edo State elections and Governor of Kano State, Abdullahi Umar Ganduje.
The President charged the party leaders to avoid the pitfalls that affected the party’s victory in Rivers, Zamfara and Bayelsa States in the 2019 elections, pointing out that with the resolution of the “acute crisis’’ in the party in Edo State, he was optimistic that the party will regain its pride of place in winning elections, and serving the people.
President Buhari urged party leaders at the national and state levels to follow the electoral process in an open and transparent manner.
“What I want is a transparent process so that the confidence of the people will be strengthened.’’
The President congratulated Pastor Ize-Iyamu on his emergence as the party’s candidate in Edo State after a “turbulent process’’, assuring him of full support.
Earlier in his remarks, the Chairman of the Caretaker Committee, who presented the candidate, told the President that: “Pastor Ize- Iyamu is a seasoned grassroots politician who is loved by his people’’, noting President Buhari’s blessings on the candidate further validates the party’s confidence.
The Chairman of the APC Edo State gubernatorial campaign, Governor Ganduje, said in line with the principles of the party the APC will lead a clean campaign, devoid of acrimony, hatred and violence.
Governor Ganduje said the campaign had started on a good and happy note, with the APC already taking over the state legislature with a majority of 17 out of 24.
In his response, Pastor Ize-Iyamu assured the President of his commitment to ensuring good governance in the state if elected in September elections, recalling that he served as Deputy Chairman of the Constitution Drafting Committee of the APC at its formation.
Pastor Ize-Iyamu said he was glad to return to the APC, describing his initial exit as that of a “prodigal son’’.
The APC candidate thanked the President for the warm and fatherly reception, saying he was honoured to receive the party’s flag from the President.
Pastor Ize-Iyamu told State House Press Corps that he was fully in charge of his campaign as a popular candidate who served the State as Chief of Staff and Secretary to State Government in previous administrations.
He also said former APC Chairman, Adams Oshiomhole, had already explained that his initial unfriendly comments during the 2016 campaigns were purely political aimed at giving another candidate an edge in the elections.
The Chairman of the Progressive Governors Forum said all the APC governors were fully behind the candidature of Pastor Ize-Iyamu.
Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
August 7, 2020
Many killed in attack in northern Nigeria
Not less than 59 people have been killed in a mistrust jihadist attack in north-eastern Nigeria.
Gunmen entered a distant village in the Gubio district of Borno state on Tuesday afternoon, killing many people.
The village was also razed, in what is believed to have been a reprisal attack, according to local reports.
No group has yet claimed the attack. The AFP news agency said that 59 bodies had been recovered, while Reuters reported that 69 people were killed.
Reuters reported that the militants suspected villagers of sharing information about their movements to security forces, while AFP said jihadist fighters had been killed by locals trying to protect livestock.
While it is unclear who carried out the attack, both the jihadist group Boko Haram and an offshoot which fights under the banner of the Islamic State group have carried out deadly attacks in the north-east of Nigeria.
Boko Haram, which sparked global outrage in 2014 when they abducted more than 270 schoolgirls in Chibok in Borno state, is also active in neighbouring Chad, Niger and Cameroon.
In March, its militants ambushed and killed at least 47 Nigerian soldiers in the country’s north east, before killing almost 100 soldiers in Chad the following day.
The group’s decade-long revolt has left thousands dead and made others vacate their houses
Source__BBC
Evasion: Tax tribunal orders firm to pay FIRS N1.7bn
The Tax Appeal Tribunal, Lagos Zone, has ruled as lawful an assessment in additional tax liability of N1.73bn issued to Prime Plastichem Nigeria Limited by the Federal Inland Revenue Service.
The tribunal ruled that the N1.73bn was the correct income tax that PPNL should pay on its profit for doing business in Nigeria under the provisions of Transfer Pricing Regulation No1 of 2012.
A statement from the FIRS on Tuesday said the tax tribunal gave this verdict in Appeal No. TAT/LZ/CIT/015/2017 instituted before it by PPNL.
The statement was signed by the FIRS Director, Communications and Liaison Department, Mr Abdullahi Ahmad.
The company was disputing the FIRS’s additional tax assessment liability.
The tax suit arose following disagreement between PPNL and the FIRS on the Transfer Pricing Documentation filed by the PPNL for 2013 and 2014.
The statement said while PPNL adopted the Comparable Uncontrolled Price for its filing, the FIRS insisted that the Transactional Net Margin Method was the correct tax assessment tool to apply in the particular case.
Responding to the arguments adduced against it by PPNL at the tax tribunal, the FIRS stated that PPNL misrepresented information to the service.
In its judgment, the five-member tax tribunal chaired by Prof A.B. Ahmed resolved all five issues raised in favour of the FIRS.
It submitted that “the appeal filed by the Appellant is hereby dismissed in its entirety.”
At least 22 ‘criminals’ killed in clash with Burundi police
At least 22 “armed criminals” and two police officers were killed in clashes between Burundi security forces and an unnamed armed group at the weekend, police said late Tuesday.
Police spokesman Pierre Nkurikiye said an armed group appeared in the hills of western Bujumbura-Rural province last week and engaged in several clashes with police.
On Sunday police “dismantled” the group “with a toll of 22 armed criminals… and two policemen killed, and six criminals arrested.”
On Monday a local official said 13 people had been killed.
Burundi’s main opposition party, the National Freedom Council, said it saw a link with the May 20 presidential elections.
The appearance of the armed group sparked a wave of arrests of 23 of its local leaders last week, the CNL said.
“We denounce this harassment orchestrated by the government ahead of the May 2020 elections,” party spokesman Therence Manirambona said on Saturday.
The fighting broke out 30 kilometres (18 miles) east of Bujumbura, the country’s economic capital, in a rural area with few roads, communications or electricity.
CNL leader Agathon Rwasa is considered the main challenger to the ruling CNDD-FDD’s Evariste Ndayishimiye in the May election.
President Pierre Nkurunziza, in power since 2005, shocked the country by announcing he would not seek re-election after a constitutional change allowed him to do so.
His controversial election to a third term in 2015 plunged the country into crisis.
The violent aftermath of the last presidential election in 2015 made Burundi a focus of an investigation by the International Criminal Court for alleged murder, rape, torture and disappearances.
Civil unrest killed 1,200 people and drove 400,000 from their homes
(AFP)
SOURCE PUNCH NEWS
Court finds Metuh, firm guilty of first count in N400m fraud trial
The Federal High Court in Abuja, on Tuesday, convicted a former National Publicity Secretary of the Peoples Democratic Party, Olisah Metuh, and his firm, Destra Investments Limited, of the first of the seven counts instituted against them by the Economic and Financial Crimes Commission.
Ruling on the first count in his judgement, Justice Okon Abang ruled that a former National Security Adviser, Sambo Dasuki, unlawfully transferred the sum of N400 million to the defendants in November 2014, The PUNCH reports.
The judge ruled that Metuh and his firm reasonably ought to have known that the sum of N400 million paid to them formed part of the proceeds of the unlawful activity of the ex-NSA because they had no form of a contractual relationship with the ONSA.
According to the judge, Dasuki transferred the money to the defendants “in breach of public trust”.
He dismissed the contention of the defence who argued that the defendants could not be convicted for the money laundering offence because Dasuki, who is currently being prosecuted, had yet to be convicted for the predicate offence of breach of trust and corruption.
The judge said, contrary to the argument, “the predicate offence and the money laundering offence are intertwined”.
“The success or failure of the predicate offence does not determine the success or failures of the money laundering offence,” the judge added.
The PUNCH reports that after finding the defendants guilty of the first count, the judge is analysing the evidence tendered in respect of the second count.
SOURCE PUNCH NEWS NIGERIA
CBN warns banks against misleading customers on domiciliary account
The Central Bank of Nigeria has cautioned Deposit Money Banks against misleading their customers on transactions carried out through domiciliary accounts in the country.
The apex bank gave the warning in a letter dated February 24, 2020, and posted on its website on Monday night.
The letter signed by the apex bank’s Director, Trade and Exchange Department, Dr. Ozoemena Nnaji was addressed to all banks.
The letter reads in part, “Following different interpretations of operations of domiciliary accounts. It has become imperative to clarify the operations of domiciliary accounts as contained in the CBN Foreign Exchange Manual Memorandum 25 provisions under reference.
“For the avoidance of doubt, all provisions of the CBN Foreign Exchange Manual has not changed and remains in effect.
“Consequently, all ordinary domiciliary account holders can utilise cash deposits not exceeding $10,000 or its equivalent by telegraphic transfers to fund eligible transactions.
“As a result, all deposits money banks are advised to desist from misguiding their customers. Please ensure strict compliance.”
The CBN had on Sunday said that it had not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks.
The Director, Corporate Communications, CBN, Isaac Okorafor, had clarified the uncertainties surrounding the operations of domiciliary accounts in Nigeria.
He said, “The bank has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks.
“Only electronic fund transfers into domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only be withdrawn in cash also.”
Okorafor therefore urged stakeholders and other interested parties to always endeavour to seek clarification on issues and avoid speculative tendencies which were detrimental to the financial system
SOURCE PUNCH NEWS
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