Fidelity Bank: $115m Cash Deposit was Reported Says it is cooperating with EFCC Commission invites oil firms as INEC officials refund N300m
Iyobosa Uwugiaren and Senator Iroegbu in Abuja The management of Fidelity Bank Plc yesterday said the $115 million cash transfer,
which led to the arrest of its Managing Director and Chief Executive Officer, Mr. Nnamdi Okonkwo, on Monday and his subsequent interrogation, was duly
reported to the appropriate authorities, adding however that it was cooperating with the Economic and Financial Crimes Commission (EFCC) as the investigation progresses.
The bank’s reaction came as the EFCC stepped up its investigation into the huge lodgement, dragging in four oil firm and their directors whom, THISDAY gathered
last night, have been invited for questioning following a presidential directive. The four oil firms were said to have made the lodgements, which the presidency,
according to THISDAY checks, is bent on recovering from the companies. The firm officials are billed for interrogation this Continued on page 8
Senate Summons Service Chiefs over Gruesome Herdsmen Attacks...
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Prosecution Files More Charges as Saraki Appeals Ruling by CCT Chair Alex Enumah in Abuja The woes of Senate President Bukola Saraki were compounded yesterday, when the prosecution counsel filed three additional charges against him, increasing them from 13 to 16. The increased charges
came on the heels of the refusal of the Chairman of the Code of Conduct Tribunal (CCT), Mr. Danladi Umar, to recuse himself, saying Saraki’s application asking him to disqualify himself was aimed at intimidating him. Shortly after the chairman’s ruling on the application,
Saraki’s lawyer, Mr. Ajibola Oluyede, said his client would appeal the ruling which he said did not meet the requirements of justice. The prosecution counsel, Rotimi Jacobs (SAN), had after the ruling on the application for the chairman to disqualify himself, filed an amendment
to the 13-count charge against Saraki, raising the counts to 16. In the fresh charge, the federal government is accusing Saraki of not declaring his interest in a foreign credit card account to which he was alleged to have transferred huge sums of money. Saraki, however, pleaded
not guilty to the amended charges, even as the tribunal adjourned till May 10 for the continuation of the trial. But the Senate president has approached the Court of Appeal for succour. In a Notice of Appeal filed by Oluyede, Saraki claimed that the CCT chairman erred in law when
he arrived at a conclusion that the application seeking his disqualification lacked absolute merit. Part of the grounds of appeal was that the tribunal chairman by his action had turned himself to a judge in Continued on page 10
Buhari Promises States More Money Governors present fiscal restructuring plan Want revenue sharing formula reviewed Tobi Soniyi in Abuja President Muhammadu Buhari yesterday promised to make more money available to states to tide them over the prevailing financial difficulties that have made it impossible for them to pay their workers’ salaries for months. The president made the promise in Abuja after his meeting with the state governors under the aegis of the Nigerian Governors’ Forum (NGF), which presented him with a fiscal restructuring plan, asking for a review of the nation’s revenue sharing formula that would put more money in the coffers of the states. Although details of the proposed plan were not disclosed, the president in his response to their proposal
indicated that he would give it positive consideration and Continued on page 8
TOP GAINERS NGN NGN TOTAL 14.13 154.19 WEMA 0.04 0.79 FLOURMILLS 1.00 21.00 NASCON 0.39 8.39 NEIMETH 0.03 0.66 TOP LOSERS NGN NGN MAYBAKER 0.05 0.80 FORTEOIL 11.87 225.63 LAFARGEAFRICA 3.67 70.35 ASL 008 1.54 STERLBANK 0.07 1.41 HPE Nestle Nig Plc ₦645.00 Volume: 338.3 million shares Value: N2.00 billion Deals: 3,428 As at yesterday 28/04/16 See details on Page 58
% 10.1 5.3 5.0 4.8 4.7 % 5.8 5.0 4.9 4.9 4.7
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L-R: Akwa Ibom State Governor Emmanuel Udom; his Edo and Delta State counterparts, Adams Oshiomhole; and Ifeanyi Okowa, during the meeting of the governors with President Muhammadu Buhari at the Presidential Villa, Abuja … yesterday godwin omoigui