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₦4.29bn Fraud Case Against UBA Stalled Over Failure To Arraign Accused.

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Legal proceedings in the alleged ₦4.29 billion fraud, foreign exchange malpractices, and money laundering case involving United Bank for Africa Plc (UBA) and four other defendants were stalled on Monday at the Lagos State Special Offences Court, Ikeja, after the accused failed to appear for arraignment.....KINDLY READ THE FULL STORY HERE▶

The defendants in the case are UBA, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Gesos Global Service Limited, and Fedat Global Limited.

Naija News reports that the Economic and Financial Crimes Commission (EFCC) instituted the case before Justice Rahman Oshodi at the Criminal Division of the Lagos State High Court, Ikeja Judicial Division.

The defendants are facing multiple charges, including fraudulent conversion, retention of proceeds of crime, foreign exchange violations, and money laundering involving ₦4,290,112,796.72, allegedly belonging to Energy Shield Petrochemical Limited.

According to the EFCC, between September 14, 2022, and March 20, 2023, in Lagos, the defendants conspired to sell foreign exchange at rates exceeding those approved by the Central Bank of Nigeria (CBN). The agency further alleged that the proceeds from these transactions were retained and laundered, contravening provisions of the EFCC (Establishment) Act and the Criminal Law of Lagos State.

EFCC counsel, T.J. Banjo, told the court that the defendants’ absence came as a surprise, noting that they had been properly served with court processes. He added that the second and third defendants, Muyiwa Akinyemi and Amangbo Eziashi Stephen, were aware of the proceedings but had failed to appear, with the two currently at large.

Banjo requested an adjournment to allow the EFCC to formally file proof of service on all defendants before their arraignment. Justice Oshodi granted the request, adjourning the case to April 21, 2026, at 9:00 a.m., when the court will take the defendants’ plea once they are produced.

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OSUN MANDATE: Emotional Scenes As Governor Adeleke Dedicates His Certificate Of Return To The Masses!.

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  • Certificate Presented: The Independent National Electoral Commission (INEC) has officially presented the certificate of return to Governor Ademola Adeleke and his deputy, Prince Kola Adewusi, following the recent governorship election in Osun State.....KINDLY READ THE FULL STORY HERE▶

    • INEC’s Remarks: Osun State REC Oluwatoyin Babalola and National Supervising Commissioner Prof. Kunle Ajayi commended stakeholders, security agencies, and voters for their resilience and participation during the electoral process.

    • Speaking during the presentation, Babalola said it was done in accordance with the law governing the commission and confirmed the electoral mandate given to Adeleke and Adewusi by voters in the state.

      She commended stakeholders for their contributions to the successful conduct of the election, particularly security agencies, non-governmental organisations, the media and traditional leaders.

      The Osun REC also praised voters for their participation, putting voter turnout at 43.2 per cent, and congratulated Adeleke while urging him to be magnanimous in victory.

      Also speaking, INEC National Supervising Commissioner for Osun State, Prof Kunle Ajayi, described the occasion as significant for democracy and the people of the state.

      Ajayi congratulated Adeleke and commended Osun voters for participating in the election despite tensions and incidents of violence recorded during the build-up to the poll.

      He said the conduct of the election demonstrated the resilience and determination of the people of Osun, while stressing that INEC entered the state to uphold democratic principles rather than support any particular candidate.

      Naija News reported earlier that the Independent National Electoral Commission (INEC), on Sunday, confirmed Governor Ademola Adeleke as the winner of the keenly contested election in Osun State on Saturday, August 15.

      According to the electoral empire, Adeleke who is seeking second term in office won nineteen local government areas, while his closest rival, Bola Oyebamiji of the All Progressives Congress (APC), won eleven local government areas.

      Meanwhile, Najeem Salaam of the African Democratic Congress (ADC) claimed a distant third.

      The total results announced by INEC showed that Adeleke had a total of 511,067 votes while Oyebamiji gathered 444,815 votes, a difference of 66,256 votes.

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DREAM SHATTERED: Insiders Reveal Why Activist Aisha Yesufu Is Struggling To Recover From Devastating Senate Race Loss!.

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  • Ahmad’s Claims on Yesufu: APC chieftain Bashir Ahmad has suggested that social activist Aisha Yesufu’s decision to scale back her campaign travel for Peter Obi ahead of the 2027 elections stems from discouragement after missing out on a senatorial ticket in the FCT.....KINDLY READ THE FULL STORY HERE▶

    • Shift in Campaign Strategy: Yesufu previously stated that while she remains supportive of Obi, she will not be traveling extensively with him across states as she did during the 2023 campaign.

    • Allegations of Unreciprocated Loyalty: Ahmad criticized Peter Obi for allegedly failing to back Yesufu’s political bid, arguing that loyalty should be reciprocal, and contrasted it with examples of political patronage by other figures.

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THE NEW ERA: Aston Villa Send Shockwaves Through The Premier League With Dual Mega-Signings!.

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  • Double Signing for Villa: Aston Villa has finalized the acquisitions of goalkeeper Zion Suzuki from Parma for approximately £30 million and left-back Matteo Ruggeri from Atletico Madrid for £17 million, as Unai Emery bolsters his squad for the upcoming Premier League season.....KINDLY READ THE FULL STORY HERE▶

    • Goalkeeper Situation: Suzuki, 23, arrives despite the recent collapse of Emi Martinez’s proposed move to Juventus, leaving Martinez’s future at the club uncertain following his key role in Villa’s Europa League victory in May. Suzuki is viewed by the club as the long-term solution in goal.

    • Defensive Reinforcement: Ruggeri, 24, joins to fill the gap left by Lucas Digne, who transferred to PSG on August 9. The Italian defender brings significant experience from Serie A and was part of the Atalanta side that won the 2024 Europa League.

    • Immediate Impact: Both new signings could be in contention for their Aston Villa debuts this Sunday in the Premier League opener against Brighton.

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