FG Files Fraud Charge against Innoson CEO
By Dipo Olowookere
A fraud charge has been filed by the Federal Government, through the Economic and Financial Crimes Commission (EFCC) against Mr Innocent Chukwuma, alias Innoson, his company, Innoson Nigeria Limited and his brother Charles Chukwuma.
The charge was dated November 30, 2017 and filed at a Lagos High Court.
In the case, the EFCC is accusing Innoson of obtaining containers of motorcycles spare parts by false pretences between 2009 and July 2011 in Lagos, ‘with intent to defraud’.
The goods, said to be property of Guaranty Trust Bank Plc, were allegedly obtained from Mitsui O.S.K Lines Limited in Apapa.
The anti-graft agency claims that Innocent Chukwuma and Charles Chukwuma, “with intent to defraud induced the staff of Mitsui O.S.K and Maersk Line Limited to deliver”, to them through their clearing agents, the motor cycle spare parts, moulds of spare parts and steel structures and raw materials called polyvinlchlorid, imported from China.
The charge said the accused falsely pretended that they were authorised by GTB to clear the goods and take delivery of them.
EFCC had last week arrested Innoson in Enugu, stirring some controversy that the arrest bore some ethnic motive and that the agency should not have waded into a dispute between GTB and the businessman.
Central to this was the story that the parties were locked in a dispute over illegal deductions from Innoson’s accounts by the GTB, with Innoson claiming that the bank was indebted to him and his company to the tune of billions of naira.
In press and TV interviews, he said he had gotten judgement at both lower and appelate courts and that the GTB has an appeal at the Supreme Court.
GTB responded tersely that it would not join issues with the businessman as the issues between them are in the court.
The EFCC, in releasing Innoson on bail Wednesday, explained that he was arrested after he refused to honour invitations by the Commission. He had been arrested by the commission before and granted administrative bail. But he reneged on the bail and his surety could also not be found.
The agency said Innoson and his brother, Charles Chukwuma (who is still at large), were being investigated by the Insurance and Capital Market Fraud Section of the Commission’s office in Lagos over matters bordering on N1.47billion fraud and forgery and other infractions. He was also alleged to have used forged documents to secure tax waivers.
“Unfortunately the industrialist resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emeni, Enugu, home.
“This was after he initially misled the Police Command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the Commission duly identified themselves to policemen guarding his home.
“His unruly thugs encircled and manhandled operatives of the Commission who had gone to effect the arrest.
“Consequently, a distress call was sent to the Commission’s Enugu Office for reinforcement.
“In all of this, the Commission’s operatives acted with decorum and civility.
“No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation.
“No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation,” it said.
JUST IN: DAAR Communications Chairman Raymond Dokpesi Dies
By Modupe Gbadeyanka
The Chairman of DAAR Communications, Mr Raymond Dokpesi, is dead.
The media entrepreneur reportedly died on Monday after he suffered from a stroke.
It was said that he was admitted to a hospital in Abuja and was being looked after, but he gave up the ghost today.
He was aged 71 and was survived by his wives and children.
Until his demise, Mr Dokpesi, who hailed from Edo State, was a chief of the opposition political party, the Peoples Democratic Party (PDP). He was also a close ally of the PDP’s presidential candidate in the 2023 general elections, Mr Atiku Abubakar.
He established the popular television station, Africa Independent Television (AIT), and RayPower FM stations.
Confirming this development, the family of the businessman in a statement signed by his son, Mr Raymond Dokpesi Jnr, said, “It is with deep sadness and heavy hearts that we announce the passing of High Chief Raymond Aleogho Anthony Dokpesi (Ezomo of Weppa-Wanno Kingdom) who passed away on May 29, 2023. High Chief Dokpesi was a beloved husband, father, grandfather, and friend to many. He will be deeply missed by all who knew him.
“High Chief Dokpesi was also a respected and accomplished businessman, a pioneer in the media industry, and a philanthropist who dedicated his life to the service of his country and his community. His legacy will live on through the impact he made on the lives of many.
“The Dokpesi family is grateful for the outpouring of love and support during this difficult time. We ask that you keep us in your thoughts and prayers as we mourn the loss of our patriarch. We also ask for privacy during this time as we grieve together as a family.
“The family will release further details on the funeral arrangements in due course.
“May his soul rest in peace.”
Full Text of President Tinubu’s Inaugural Speech
My Fellow Citizens,
I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity.
This day is bold and majestic yet bright and full of spirit, as is our precious nation.
As a nation, we have long ago decided to march beyond the dimness of night into the open day of renewed national hope.
The question we now ask ourselves is whether to remain faithful to the work inherent in building a better society or retreat into the shadows of our unmet potential.
For me, there is but one answer. We are too great a nation and too grounded as a people to rob ourselves of our finest destiny.
This nation’s journey has been shaped by the prayers of millions, and the collective sacrifices of us all.
We have endured hardships that would have made other societies crumble.
Yet, we have shouldered the heavy burden to arrive at this sublime moment where the prospect of a better future merges with our improved capacity to create that future.
To the surprise of many but not to ourselves, we have more firmly established this land as a democracy in both word and deed.
The peaceful transition from one government to another is now our political tradition. This handover symbolizes our trust in God, our enduring faith in representative governance and our belief in our ability to reshape this nation into the society it was always meant to be.
Here, permit me to say a few words to my predecessor, President Muhammadu Buhari. Mr President, you have been an honest, patriotic leader who has done his best for the nation you love. On a more personal note, you are a worthy partner and friend. May History be kind to you.
For many years, Nigeria’s critics have trafficked the rumour that our nation will break apart, even perish.
Yet here we are. We have stumbled at times, but our resilience and diversity have kept us going.
Our burdens may make us bend at times, but they shall never break us.
Instead, we stand forth as Africa’s most populous nation and as the best hope and strongest champion of the Black Race.
As citizens, we declare as one unified people devoted to one unified national cause, that as long as this world exists, NIGERIA SHALL EXIST.
Today, Fate and Destiny join together to place the torch of human progress in our very hands. We dare not let it slip.
We lift high this torch so that it might shine on every household and in every heart that calls itself Nigerian. We hold this beam aloft because it lights our path with compassion, brotherhood, and peace. May this great light never extinguish.
Our administration shall govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.
We are here to further mend and heal this nation, not tear and injure it.
In this vein, may I offer a few comments regarding the election that brought us to this juncture. It was a hard fought contest. And it was also fairly won. Since the advent of the Fourth Republic, Nigeria has not held an election of better quality.
The outcome reflected the will of the people. However, my victory does not render me any more Nigerian than my opponents. Nor does it render them any less patriotic.
They shall forever be my fellow compatriots. And I will treat them as such. They represent important constituencies and concerns that wisdom dare not ignore.
Some have taken their concerns to court. Seeking legal redress is their right and I fully defend their exercise of this right. This is the essence of the rule of law.
Over six decades ago, our founding fathers gave bravely of themselves to place Nigeria on the map as an independent nation.
We must never allow the labor of those who came before us to wither in vain but to blossom and bring forth a better reality.
Let us take the next great step in the journey they began and believed in.
Today, let us recommit our very selves to placing Nigeria in our hearts as the indispensable home for each and every one of us regardless of creed, ethnicity, or place of birth.
My supporters, I thank you. To those who voted otherwise, I extend my hand across the political divide. I ask you to grasp it in national affinity and brotherhood. For me, political coloration has faded away. All I see are Nigerians.
May we uphold these fitting and excellent notions as the new Nigerian ideal.
My fellow compatriots,
The Nigerian ideal which I speak of is more than just an improvement in economic and other statistics. These things are important; but they can never convey the fullness of our story.
Our mission is to improve our way of life in a manner that nurtures our humanity, encourages compassion toward one another, and duly rewards our collective effort to resolve the social ills that seek to divide us.
Our constitution and laws give us a nation on paper. We must work harder at bringing these noble documents to life by strengthening the bonds of economic collaboration, social cohesion, and cultural understanding. Let us develop a shared sense of fairness and equity.
The South must not only seek good for itself but must understand that its interests are served when good comes to the North. The North must see the South likewise.
Whether from the winding creeks of the Niger Delta, the vastness of the northern savannah, the boardrooms of Lagos, the bustling capital of Abuja, or the busy markets of Onitsha, you are all my people. As your president, I shall serve with prejudice toward none but compassion and amity towards all.
In the coming days and weeks, my team will publicly detail key aspects of our programme. Today, permit me to outline in broad terms a few initiatives that define our concept of progressive good governance in furtherance of the Nigerian ideal:
The principles that will guide our administration are simple:
1. Nigeria will be impartially governed according to the constitution and the rule of law.
2. We shall defend the nation from terror and all forms of criminality that threaten the peace and stability of our country and our subregion.
3. We shall remodel our economy to bring about growth and development through job creation, food security and an end of extreme poverty.
4. In our administration, Women and youth will feature prominently.
5. Our government will continue to take proactive steps such as championing a credit culture to discourage corruption while strengthening the effectiveness and efficiency of the various anti-corruption agencies.
Security shall be the top priority of our administration because neither prosperity nor justice can prevail amidst insecurity and violence.
To effectively tackle this menace, we shall reform both our security doctrine and its architecture.
We shall invest more in our security personnel, and this means more than an increase in number. We shall provide, better training, equipment, pay and firepower.
On the economy, we will target a higher GDP growth and to significantly reduce unemployment.
We intend to accomplish this by taking the following steps:
First, budgetary reform stimulating the economy without engendering inflation will be instituted.
Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.
Third, electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well.
I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and various anti-investment inhibitions.
We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home.
My administration must create meaningful opportunities for our youth. We shall honour our campaign commitment of one million new jobs in the digital economy.
Our government also shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill. This bill will give our administration the policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for the poor, elderly and vulnerable.
Rural incomes shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products. A nationwide programme for storage and other facilities to reduce spoilage and waste will be undertaken.
Agricultural hubs will be created throughout the nation to increase production and engage in value-added processing. The livestock sector will be introduced to best modern practices and steps taken to minimize the perennial conflict over land and water resources in this sector.
Through these actions, food shall be made more abundant yet less costly. Farmers shall earn more while the average Nigerian pays less.
We shall continue the efforts of the Buhari administration on infrastructure. Progress toward national networks of roads, rail and ports shall get priority attention.
We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.
Monetary policy needs thorough housecleaning. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.
Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.
Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians. The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.
Given the world in which we reside, please permit a few comments regarding foreign policy.
The crisis in Sudan and the turn from democracy by several nations in our immediate neighbourhood are of pressing concern.
As such, my primary foreign policy objective must be the peace and stability of the West African subregion and the African continent. We shall work with ECOWAS, the AU and willing partners in the international community to end extant conflicts and to resolve new ones.
As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional and continental quest for collective prosperity.
This is the proudest day of my life. But this day does not belong to me. It belongs to you, the people of Nigeria.
On this day, Nigeria affirms its rightful place among the world’s great democracies. There, Nigeria shall reside forever.
The course of our past and the promise of the future have brought us to this exceptional moment.
In this spirit, I ask you to join me in making Nigeria a more perfect nation and democracy such that the Nigerian ideal becomes and forever remains the Nigerian reality.
With full confidence in our ability, I declare that these things are within our proximate reach because my name is Bola Ahmed Tinubu, and I am the President of the Federal Republic of Nigeria.
May God bless you and May He bless our beloved land.
Tinubu Sworn-in as Nigeria’s 16th President
By Adedapo Adesanya
Nigeria on Monday got a new President as the declared winner of the 2023 presidential elections, Mr Bola Ahmed Tinubu, took the oath of office to succeed the outgone President, Mr Muhammadu Buhari, who completed his eight-year tenure.
With this, he becomes Nigeria’s 16th president and will hold the office till 2027, when he can contest for the position again till 2031 if re-elected, according to constitutional requirements.
The Chief Justice of Nigeria, Justice Olukayode Ariwoola, administered the oath of office to Mr Tinubu and his deputy, Mr Kashim Shettima, at exactly 10:28 am and 10:38 am respectively.
The swearing-in ceremony was witnessed by Mr Tinubu’s predecessors, including Mr Buhari and his wife, Mrs Aisha, as well as Mr Goodluck Jonathan. Mr Shettima’s wife, Mrs Nana, also witnessed the oath-taking ceremony.
African leaders who witnessed the historic event at the venue beautifully decorated with the green-white-green colours of the nation were the new Prime Minister of Gabon, Mr Billy By-Nze; the President of the Republic of Cote D’Ivoire, Mr Alassane Ouattara; Ghana President, Mr Nana Akufo-Addo; and Rwanda President, Mr Paul Kagame.
Also at the venue of the inauguration ground were dignitaries, including African Development Bank (AfDB) President, Mr Akinwumi Adesina, Africa’s richest man, Mr Aliko Dangote, as well as contemporaries – Mr Femi Otedola, Mr Abdulsamad Rabiu, and Mr Jim Ovia.
Others present included service chiefs, heads of security agencies, governors, former governors, serving and former Ministers, as well as chieftains of the All Progressives Congress (APC).
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