Tag: bank

N13bn Ikoyi loot: Bank claims ownership of apartment where money was hidden

Union Bank of Nigeria Plc has claimed ownership of Flat 7B in Osborne Towers, Ikoyi, where large sums of money were found.

The sums found in the flat, which were forfeited to the Federal Government on June 6, are $43,449,947 (about N13billion), N23, 218,000 and £27,800 (about N10.6milion).

In its pending application, the bank is praying the Federal High Court in Lagos to vacate an interim order forfeiting the flat to the Federal Government.

The Economic and Financial Crimes Commission (EFCC) had accused former National Intelligence Agency (NIA) Director-General Ayodele Oke of fraudulently converting the agency’s funds.

It alleged that Oke’s wife, Folasade, used part of the funds to buy the flat.

TheNewsGuru.com reports that the court, on November 9, ordered the flat’s temporary forfeiture to the Federal Government.

Justice Saliu Saidu ruled that it would be permanently forfeited if no one turned up to justify its ownership within 14 days.

Yesterday, Union Bank’s lawyer Chief Ajibola Aribisala (SAN) said he filed an application seeking to vacate the interim forfeiture order.

In a supporting affidavit, the bank said the flat was part of 16, Osborne Road, Ikoyi, belonging to Alhaji Ahmadu Adamu Muazu.

It said the property was covered by a certificate of occupancy dated September 27, 2009 and registered as 97/97/2009 in the Lands Registry Office, Alausa.

According to the bank, Muazu mortgaged the property to it by virtue of a Tripartite Deed of Legal Mortgage dated November 1, 2011.

Union Bank said the property was a security for a loan granted to Tripple A Properties & Investment Ltd.

The bank claimed that the property’s original titled deed had been vested in it (the bank).

Besides, it said the loan was yet to be liquidated despite its tenor expiring.

The bank claimed that it sold the property to Chobe Ventures Ltd to liquidate the loan.

EFCC, in its counter affidavit, argued that the bank lacked the locus standi to challenge the forfeiture.

While arguing the application for the flat’s forfeiture, EFCC’s lawyer said Mrs Oke made cash payment of $1,658,000 in tranches of $700,000, $650,000 and $353,700, for the flat’s purchase between August 25 and September 3, 2015.

In a supporting affidavit deposed to by an investigating officer, Mr Musa Giwa, the agency said Mrs Oke gave the cash to a bureau de change operator, Alhaji Shehu Usman Anka, to pay for the flat.

“The funds used to acquire the property sought to be forfeited in the name of Chobe Ventures belong to the Federal Government of Nigeria but was fraudulently converted to the use of Chobe Ventures. It is in the interest of justice to grant this application,” the EFCC said

EFCC said when it recovered the huge cash from the flat on April 12, it also recovered several documents indicating that the flat belonged to Chobe Ventures, including invoices and cash receipts issued to the company.

It claimed to have written the Corporate Affairs Commission (CAC) for the particulars of Chobe Ventures’ directors, following which the CAC affirmed that the directors of Chobe Ventures were Mrs Folade Oke and Mr Ayodele Oke Jr.

Justice Saidu adjourned till January 12 for the hearing of Union Bank’s application as an interested party.

December 1, 2017
Akpabio didn’t make N1.4b donation to any bank while in office – Ex-commissioner

A former Commissioner of Information and Communication in Akwa Ibom State during the tenure of former Governor Godswill Akpabio, Mr. Aniekan Umana on Monday debunked allegations that the former governor donated N1.billion to a commercial bank.

Umana described the claim as “infantile and baseless”.

Akpabio, now Senate Minority Leader, was alleged to have donated the money to a commercial bank during his 8 year tenure as governor of the state.

However, Umana, in a statement on Monday debunked the allegations insisting that those spreading the rumours were bent on tarnishing his image.

According to Umana: “I was part and parcel of that administration and I also had the privilege of serving in the two administrations. Whatever I say on this matter can be further verified at the office of the Attorney-General of the state and the Finance and General Purpose Committee (FGPC), which was and I believe it is still the body that approves and awards contracts.

“The purported N1.4bilion alleged to be a donation by the former governor, I can recall, was in respect of a contract awarded to Triple A, for the apron expansion and private hangar for the government-owned aircraft at the Ibom International airport, which work had commenced and the imported equipment were all inside the containers at the airport.

“It is intructive to educate those making the comment that neither the FGPC, nor the Akwa Ibom State House of Assembly, which are the organs of government empowered to scrutinise the spending and disbursement of public funds have levelled such misdemeanours against the past and current governments.”

Umana alleged that those making the claims were trying “to drag the name of the former governor into the mud. Because they failed to secure the support and endorsement of the former governor on their ill-fated ambition and they must bring Akpabio down at all costs”.

September 26, 2017
‘I am not interested in a relationship that cannot give me money’-Ella Mensah

One of the most popular Ghollywood actresses making waves in Nollywood is undoubtedly beautiful and refreshingly sexy Ella Mendoza Mensah. The actress first hit Nollywood in 2012 and has since made Nigeria her second home. The sexy role interpreter recently declared on Snapchat the kind of relationship that gets her attention. According to her, any relationship that does not lead to the bank and to the altar isn’t relevant to her.

In her words:” I am interested in a relationship that leads to the altar and a relationship that leads to the bank. Any other relationship apart from these is not relevant and I am not interested “ she said on Snapchat.

May 25, 2017
CIBN received complaints worth N27.6bn from bank customers in 2016 – Report

The Chartered Institute of Bankers of Nigeria (CIBN) says its Ethics and Professionalism Division received 136 petitions with claims that amounted to N27.6 billion from bank customers in 2016.

The institute made this known in its 2016 Annual Reports and Accounts signed by the Registrar, Mr Seye Awojobi.

The report was released on Saturday in Lagos.

It said that 79 cases were fully resolved out of the 136 petitions, translating into a total refund of three billion naira.

The CIBN said that it also raised N439.58 million as annual development fund and corporate subscription during the year under review.

The institute noted that the figure was lower than the N443.38 million expected in 2016.

It said that the payments were received mostly in the first quarter of the year, thereby increasing its portfolio of investible funds.

The body also noted that the figure represented a balance of N3.8 million representing 0.86 per cent as outstanding at the end of the 2016 financial year.

CIBN said that regulators and commercial banks paid N400 million, development banks, six million naira; mortgage banks, N1.2 million; and microfinance banks, N2.2 million.

It added that the institute’s individual membership grew from 118,802 in 2015 to 122,680 in 2016.

The figure is an increase of 3,893 new members which represented 3.36 per cent into various categories which include honorary fellows and seniors as well as students and ordinary members.

On corporate members, the institute said it registered additional 16 microfinance banks in 2016, and that they were issued certificates in line with CIBN Act No. 5 of 2007.

It said that micro-finance banks which it had registered were 363 out of the 979 microfinance banks licensed by the Central Banks of Nigeria.

NAN

May 20, 2017
Why I withdrew $100,000 from my account – Patience Jonathan

Former First Lady, Patience Jonathan yesterday explained that she withdrew $100,000 from her unblocked Skye Bank account for medical treatment.

Speaking through her solicitor, Barrister Charles Ogboli, the former first lady, said she never wanted to withdraw all the money, but just to ensure compliance to the order of court.

“She wanted to withdraw $5 million on Friday but unfortunately there was no funds and they (the bank) pleaded with her that she can withdraw $100,000 in order to comply with the order of court. They have complied fully with the order of court,” he said.

“Therefore the Notice of Appeal (by the EFCC) came late. The Notice and Stay of Execution is a mere application. And we are talking of court order. Appeal has not been entered yet; records have not been transferred from the lower court to the Court of Appeal. In the Administration of Criminal Justice Act, by mere fact that you have an appeal against a proceeding, it does not stop the trial from going on. That was what they were acting upon.

“Unfortunately for them, the order has been executed. Even when you move the motion it is an exercise in futility. So we are going to court to respond to whatever they filed. The issue is that she went to the bank and applied and account was debited with $100,000. There were no challenges as to withdrawal from her account. She was not in any pressure to withdraw all the money, after all the money was there. But this is just for her medical treatment and all that.”

“I wonder why some print media will be publishing things that are not within their knowledge or facts. Mrs Jonathan is a law-abiding citizens and she has not done anything which is ultra vires to the laws of the land,” he added.

April 12, 2017
We don’t deal directly with bank customers on forex transactions – CBN
The Central Bank of Nigeria, CBN has said contrary to public opinion, it does not deal directly with any bank customer on forex exchange transactions.

The apex bank noted that forex transactions are strictly restricted to Deposit Money Banks (DMBs) and their respective customers.

This was contained in a statement released and signed by the apex bank’s Acting Director, Corporate Communications, Isaac Okorafor and obtained exclusively by TheNewsGuru.com.

The statement reads in full:

CBN makes further clarification on FOREX sale

The attention of the Central Bank of Nigeria (CBN) has been drawn to a media report suggesting that the Office of the Attorney General of the Federation and Minister of Justice has issued a query to the Central Bank of Nigeria (CBN) over issues relating to the sale of foreign exchange.

While it is perfectly normal for any agency of Government to seek clarifications on any matter from other agencies of Government, we wish to state that neither the Governor of the CBN nor the Director, Legal Services Department has received any communication with regard to the issue.

The CBN, as a responsible and responsive arm of Government, will always provide clarifications on any matter within its purview for the purpose of educating and enlightening all concerned.

Accordingly, we wish to reiterate our position by making the following clarifications:
1. The CBN DOES NOT deal directly with any Bank customer on foreign exchange transactions. Such transactions are consummated strictly between the customers and their respective Deposit Money Banks (DMBs);
2. The figures of FOREX sale published in national dailies or on CBN website, over which insinuations are being formed, were transactions consummated between the DMBs and their customers;
3. Pursuant to our policy of transparency, we publish the reports of purchases and sales of forex between the DMBs and their customers, as submitted by the banks without editing. This practice of publishing the figures on our website has been on since October 2016;
Following observations of different exchange rates after the last publication on our website (www.cbn.gov.ng), we called for explanations from the banks concerned.
1. In response to our queries to them, apart from some observed formatting errors, the concerned banks reported that the returns were sent on the basis which the transactions were conducted. The transactions concerned were consummated in third currencies such as Japanese Yen and South African Rand (YEN/ZAR); JPY/NGN, EUR/USD, USD/ZAR. As a result, there is no way any DMB or the CBN will deal in forex transaction at the rate of 61kobo/USD, N18/US$1 or N3/US$1, as was erroneously reported.
3. The aforementioned are third currency transactions and when properly translated, will be in line with the prevailing forex rate range in the interbank market. Consequently, to prevent any such occurrence in the future, the CBN has directed ALL Deposit Money Banks to render their returns in a uniform format converting all forex sales and purchases to NGN/USD. All third currency transactions are also to be converted to NGN/USD.
Again, we urge all concerned stakeholders to always verify information on matters relating to the Bank before going public in order not to trigger volatility in the market.
February 20, 2017
See 20 ways to secure your bank account from fraudsters

With daily reports of unauthorized withdrawals from individual/corporate accounts, it therefore becomes imperative for account holders to be extra careful in handling their accounts to avoid being defrauded especially as recession bites harder in the country.

Fortunately enough, guarding your account from fraudsters requires a minimal time investment and a little technical-know-how.

TheNewsGuru.com brings you 20 easy ways to secure your bank accounts and avoid identity theft.

1.Check your account activity regularly: This may be the single most effective strategy you can employ to secure your finances. Balancing a checkbook is advised, though the technique is becoming outdated with the advent of online banking. At the very least, you should log in and view your account activity multiple times every week to make sure there are no unexpected transactions. Report any discrepancies to your financial institution immediately.

2. Keep your PIN and passwords secret: These are the keys to your money. Guard them with vigilance. Do not give them out to anyone, and never write them down on paper, in an email or in a text message. These can all be easily intercepted.

3. Use a strong password for online banking: Do not use your birthday, your spouse’s name, your kid’s name, your address or anything so painfully obvious. Always use a capital letter or two along with a few numbers. An example of a bad password would be Femi or Ronke. An example of a good password would be 23CompuDocu78. And please, never set the word “password” as your password.

4. Change passwords periodically: Get a new password every few months or so. That way, if you’ve had to give someone else your password or for some reason made a physical record of it, you will reset your chances of being hacked.

5. Do not give out account info over the phone: Your bank will not call requesting your account numbers, PINs or passwords. They already have this information. You should be automatically suspicious of unexpected calls. If you have any doubts about the caller, hang up and call your bank directly.

6. Do not give out account info through email: Again, your bank will not email you requesting your account numbers, PINs or passwords. Never send this information through email.

7. Don’t click links embedded in emails: It is easy for scammers to rig convincing emails. If you get an email from your bank, don’t click on the links. They could lead you anywhere. Instead, type in the bank’s web address in your browser and navigate from there.

8. Use anti-virus protection software, firewalls and spyware blockers: By acquiring these basic computer protection tools, you significantly reduce your vulnerability to cyber attacks and fraud attempts. Make sure to also keep your computer updated with the most recent security patches.

9. Don’t use public computers for online banking: This is never a good idea. Even if you’re careful to make sure no one sees your screen and you remember to log out completely, an expert scam artist can find ways to record your activity. You should also avoid conducting transactions using public Wi-Fi.

10. Check for secure connections: When visiting your bank’s website or conducting an online transaction, check your browser to verify a secure connection. If the web address starts with “https,” you should have a secure connection.

11. Report lost cards immediately: Act fast and prevent fraud before it can happen. Don’t procrastinate. As soon as you realize your card is missing, call the bank and have them send you a new one.

12. Be aware of your surroundings at ATMs: Keep an eye on the people around you. Make sure no one is standing too close. Use the curved mirror to watch activity behind. It is absolutely imperative you keep your PIN secret and close your transaction completely before walking away from the machine. If there is anything at all suspicious, quit your transaction and walk away immediately.

13. Watch out for skimmers: Skimmers are interesting little devices that can be placed over ATM card slots in order to steal your account information. They can be installed and uninstalled in a matter of seconds. If the card slot looks peculiar, don’t use it.

14. Always take your receipt: At the ATM, wait for your receipt to print and take it with you. Do not toss it in a trashcan. The information could be used to access your accounts.

15. Shred documents and old checks: Anything with account information should be destroyed beyond recognition. You don’t want sensitive documents to end up in the wrong dumpster.

16. Minimize check writing: Checks display a lot of personal information, including your phone number, address, bank, account number and signature. Whenever possible, use a card or pay in cash.

17. Write checks in permanent blue ink: This makes it more difficult for fraudsters to alter the written information.

18. Do not leave blank space on your check: You don’t want to give anyone the opportunity to tack another zero on the end.

19. Make sure checks can’t be seen through envelopes: This is an invitation for fraud. Use security envelopes or place your check between sheets of heavy paper.

20. Use secure mailboxes only: When mailing checks, the mailbox at the end of your driveway can hardly be considered safe. Anyone can come along and snatch your outgoing mail in a matter of seconds. If you’re sending money through the Postal Service, use a secure box or take it to the office directly.

Be smarter than the fraudsters. Do whatever is needed to ensure the safety of your funds.

January 23, 2017