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EFFC Arrests Smartmicro Systems Ltd Boss Michael Obasuyi Over N11.5b Fund

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By Dipo Olowookere

Managing Director of Smartmicro Systems Ltd, Mr Michael Osasogie Obasuyi, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) over alleged conspiracy, cybercrime and laundering of N11.498 billion.

A statement issued by spokesman of the EFCC, Mr Wilson Uwujaren, disclosed that the suspect, also the managing director of Platinum Multi-purpose Cooperative Society Limited, had written a petition in March 2018 to the commission against a mobile and electronic payment provider firm known as eTranzact.

However, this petitioned company had also written a counter-petition against Smartmicro and Mr Obasuyi, leading the anti-graft agency to launch investigations into the activities of Mr Obasuyi and his firm.

It was alleged that Smartmicro had approached eTranzact in 2012 for the deployment of bulk purchase solution called ‘Corporatepay’ to facilitate payment of salaries of Delta State workers in microfinance banks.

It was also alleged that the company configured an additional outbound fund transfer solution called ‘Fundgate’ in 2017, which required Smartmicro to maintain a pre-funded settlement account with a first generation bank for settlement of account it had initiated.

The company further alleged that the bank, sometime in March 2018, revealed that the settlement account was in debit of N11,498,944,038.29.

According to the EFCC, Mr Obasuyi, in his statement to the Commission, confessed to have committed the crime, stating that he created fraudulent and imaginary monies through the aid of ‘Fundgate’ financial application from the company.

Mr Uwujaren said, “The commission, in the course of investigation recovered a paper version of the programme called MicroSwitchServer1, which he allegedly used to create and post the imaginary monies.

“He also admitted to have diverted to his personal use N7,519,381,202  out  of N11,498,944,038.29.

“The Commission has so far recovered N2,903,727,563.92, $37,992.87 and 18,538.09 found in Obasuyi’s accounts in various banks in the country.

“Also, a total of 20 properties located in various parts of Edo, Rivers and Lagos States and Abuja, worth several millions of Naira, have been traced to Obasuyi, which were acquired with proceeds of crime.

“Obasuyi, who also admitted to have purchased 134 buses from the proceeds of crime, runs the popular Platinum Cruise Transport Company. He will soon be charged to court as soon as investigations are concluded.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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NIMASA Confirms Oil Spill from Bonny Channel Vessel Collision

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Bonny Channel Vessel Collision

By Adedapo Adesanya

The Nigerian Maritime Administration and Safety Agency (NIMASA) has confirmed that a collision between vessels in the Bonny Channel, Rivers State, led to oil pollution in the affected area.

The agency’s Deputy Director and Head of Public Relations, Mr Osagie Edward, disclosed this in a statement, noting that the Deep Blue Forward Operating Base in Bonny received a distress call at about 11:30 a.m. regarding the collision.

He said the incident involved MV Valparaiso, a Singapore-flagged container vessel with IMO Number 9433054, and MT Lady Martina, a Nigerian-flagged oil products tanker.

According to the statement, the Deep Blue Base immediately deployed 10 armed personnel aboard the interceptor boat DB 214 to the scene.

The agency said five crew members aboard MT Lady Martina sustained varying degrees of injuries during the incident.

The spokesperson said the injured crew members were evacuated to the Forward Operating Base sickbay in Bonny for immediate medical treatment.

“Following the collision, MT Lady Martina drifted ashore and is currently aground along the Bonny Channel.

“MV Valparaiso also remains grounded at the Bonny Inner Anchorage pending damage assessment and further investigation,” Edward said.

He said the management of MAERSK had officially reported the incident to the agency.

Mr Edward said the Director-General of NIMASA, Mr Dayo Mobereola, had ordered a full investigation into the immediate and remote causes of the collision.

He added that NIMASA had established a Situation Monitoring Room to coordinate emergency response efforts and monitor developments from the incident.

Mr Mobereola had personally visited Rivers to inaugurate the monitoring room and oversee response operations in the state.

The Director-General also directed the agency’s Marine Environment Management Department to begin an Environmental Impact Assessment (EIA) of the affected area immediately.

Mr Mobereola urged officials to take necessary measures to mitigate the impact of the Tier One oil sheen and safeguard the marine environment.

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NAFDAC Destroys N1.8bn Sachet Alcohol, Expired Pharmaceuticals in Abuja

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NAFDAC sachet alcohol

By Modupe Gbadeyanka

Some counterfeit, expired, and unwholesome products worth over N1.8 billion have been destroyed by the National Agency for Food and Drug Administration and Control (NAFDAC) in Abuja.

The agency, in a statement on Friday, disclosed that the items were destroyed by fire at the Kuje dumpsite in the Federal Capital Territory (FCT).

The destruction exercise involved the incineration of counterfeit medicines, banned sachet alcohol, expired pharmaceuticals, fake chemicals and other unsafe products seized across Abuja and surrounding areas, including items voluntarily submitted by companies, NGOs, and the Association of Community Pharmacists of Nigeria (ACPN).

According to NAFDAC, this action demonstrates its commitment to ensuring that seized products do not re-enter circulation. It also reaffirms its commitment to enforcing the ban on alcoholic beverages packaged in sachets and PET bottles below 200ml, warning that enforcement actions and prosecution will extend to traders found in possession of such products.

Speaking during the exercise, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, represented by the Director of Investigation and Enforcement, Mr Martins Iluyomade, warned that counterfeit drug syndicates now deploy sophisticated cloning techniques to imitate genuine products, making it increasingly difficult for consumers to identify fake items.

She disclosed that the organisation recently intercepted several containers of suspicious products falsely declared to evade detection at the ports, stressing the need for stronger inter-agency collaboration and public vigilance.

The DG urged Nigerians to avoid patronising suspiciously cheap medicines and other regulated products, and to report suspicious activities to the nearest NAFDAC office or the NAFDAC Call Centre.

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Tinubu Lauds NDLEA $360m Drug Bust, Nigerian-Mexican Cartel Dismantling

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tinubu ndlea

By Adedapo Adesanya

President Bola Tinubu has commended the National Drug Law Enforcement Agency (NDLEA) for dismantling a sophisticated Nigerian-Mexican drug syndicate and uncovering a multi-million-dollar illicit drug production network operating in the country.

The President’s message was contained in a statement issued on Thursday by his Special Adviser on Information and Strategy, Mr Bayo Onanuga.

The NDLEA Chairman, Mr Mohammed Buba Marwa, had on Wednesday announced the breakthrough following a major operation carried out by the agency in collaboration with international partners after weeks of intelligence gathering and strategic planning.

According to President Tinubu, the operation, which led to the arrest of foreign nationals, local drug kingpins, and other collaborators, as well as the seizure of illicit drugs and chemicals valued at over $360 million, reflects the professionalism and commitment of the anti-narcotics agency.

“This successful operation, which led to the arrest of foreign nationals, local kingpins and other collaborators, as well as the seizure of chemicals and illicit drugs valued at over $360 million, demonstrates exceptional professionalism, courage, and unwavering commitment to safeguarding society from the devastating effects of narcotics,” the President said.

He praised the courage, resilience, and dedication displayed by NDLEA operatives during the operation and urged the agency not to relent in the fight against drug trafficking.

He warned that West Africa has increasingly become a major transit hub for cocaine, synthetic drugs, and unregulated pharmaceuticals being trafficked to Europe and North America.

According to him, beyond posing serious security threats, the drug trade is also destroying the future of many young people across the region.

The President also called on Nigerians to support the fight against illicit drugs by remaining vigilant and reporting suspicious activities to security agencies.

“I call on all Nigerians to see the fight against illicit drugs not NDLEA’s alone. Everyone has a role to play. We must remain vigilant and promptly report suspicious activities within our communities to assist security agencies in combating criminal networks,” he stated.

President Tinubu added that the successful operation sends a strong warning to criminal networks that organised crime and other threats to public safety will not be tolerated anywhere in the country.

“This landmark success is a strong message that our security agencies will not tolerate organised crime and criminality anywhere in the country, and that those who threaten public safety and national security will face the wrath of the law,” he said.

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