8—VANGUARD, THURSDAY, MAY 24, 2012
Financial Reporting Council stops ICAN AGM BY BABAJIDE KOMOLAFE
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AGOS — THE Finan cial Reporting Council of Nigeria (FRC) has directed the Institute of Chartered Accountants of Nigeria (ICAN) not to go ahead with its Annual General Meeting (AGM) planned to hold tomorrow over issues of corporate governance by the institute. FRC was established in 2011 as a parastatal under the Federal Ministry of Trade and Investment. From left: Mr Moses Alake Adeyemo, Deputy Governor, Oyo State; Gen. Yakubu Gowon (rtd.), chair- Among other things, the man of the Occasion and Governor Abiola Ajimobi of Oyo State at the 2012 Oyo State Education Sum- Council is empowered to: mit, in Ibadan, yesterday. Photo: Dare Fasube. harmonise activities of relevant professional and regulatory bodies as relating to corporate governance and financial reporting; and promote the highest standards among auditors and other profesIt expressed shock that political expediency. He sionals engaged in the fiAGOS — THE Action deficiency had been exnancial reporting process. Congress of Nigeria posed by the fact that a the administration could has chosen to take what he FRC alleged that the (ACN) has said the state- President who gleefully so easily miss a rare considers the ‘safe’ way council of ICAN had rement by the Attorney-Gen- and speedily approved chance to show that it is out on an issue that calls jected five nominees of the eral of the Federation, Mr the suspension of Justice a government with hon- for courageous leadership. Minister of Education into Mohammed Adoke, that Salami as President of ourable character, per- He has failed to rise to the the ICAN council, saying Justice Ayo Salami’s rein- the Court of Appeal is haps the most important occasion at a crucial moit was a complete breach statement as recommended now stonewalling and attribute of any govern- ment. President Jonathan of section 3(1)(a) of the when ment that is worth that may yet rue the decision by the National Judicial pussyfooting ICAN Act. to ignore the recommendaCouncil (NJC) will be called upon to reverse name. Addressing a press con"In the end, the Presi- tion of the NJC on the re‘subjudice’, is the clearest that decision by the same ference in Lagos, yesterindication yet that the body that recommended dent has opted to sacrifice instatement of Justice Saday, Executive Secretary/ honour on the platform of lami,’’ ACN said. Jonathan Administration is the suspension. Chief Executive Officer, It said: "In our earlier not sincere. In a statement in Lagos, statement, we said we are yesterday, by its National willing to give the PresiPublicity Secretary, Alhaji dent the benefit of the Lai Mohammed, the party doubt over speculations said the statement had also that the presidency is the BY OSCARLINE EFCC was opposing eight James Onanefe Ibori cited confirmed the widely-held one orchestrating the litiONWUEMENYI applications brought in by by the defence counsel belief that the Presidency gation against the reDoma and six other co-ac- was different from the case orchestrated Salami’s sus- versal of Salami’s susBUJA — THE Eco cused persons seeking to before the court. pension in the first in- pension. However, it is nomic and Financial quash the case against He said by taking their stance, as part of a wider now clear that the morCrimes Commission, them. plea, they had joined isplan to cow the judiciary ally-challenged adminisCounsel to all the accused sues with the prosecution and silence upright judges. tration is actually the un- EFCC, has told a Federal According to the party, "in seen hand behind such High Court sitting in Lafia, persons excluding the 4th and had actually chalthe end, this is all about the frivolous lawsuits, which Nasarawa State presided and 8th accused persons, S. lenged the prosecution to PDP losing Ekiti and Osun have now been latched over by Justice Marcel I. Ameh, SAN, had earlier prove the case for which states, which the party ap- on to by the same presi- Awokulehin, that a former moved a motion to quash they have been charged. propriated to itself through dency as the reason why Nasarawa State governor, the charges preferred As to whether the charges are vague and ambiguous, a most shameful and egre- Justice Salami cannot be Aliyu Akwe Doma and six against them. Also, counothers standing trial on a 17sel to Doma and gious electoral heist, rather reinstated. "As the AGF plays the count criminal charge of Abdulmumin Jibrin, Charles than the consequences of the disagreement between ostrich, he forgets that laundering state funds Edosonwan, SAN, had the nation’s two top judicial Nigerians cannot be totaling over N18 billion, prayed the court to discharge the accused persons officers over the Sokoto elec- hoodwinked by such un- have a case to answer. The commission has, on the grounds that prostenable explanation of tion. AGOS — EMINENT "AGF Adoke’s shocking the reason for the presi- therefore, argued that the ecution did not disclose the Nigerians including defendants’ applications element of crime in the erstwhile presidential asand disingenuous state- dency’s refusal to reinment has also exposed the state Justice Salami. He seeking to quash the case charge, saying: “This is a pirant, Professor Pat reason behind the temerity forgets that Justice Sa- before the court lacked merit criminal proceeding that Utomi; chairman of the ought not to proceed.” of Segun Oni and lami had already insti- and should be struck out. Subsidy Reinvestment The other accused perHe said the case was an and Empowerment ProOlagunsoye Oyinlola to tuted a lawsuit against continue to assault the ju- the NJC before he was sons are Senator John attempt to criminalise gov- gramme Board, Dr. diciary and anyone who suspended. He forgets Dangoyi, Abdulmumin ernment and that the trial Christopher Kolade; Mrs. had anything to do with the that the NJC, which is a Jibrin, Timothy Anthony was instituted because they Ibukun Awosika and Pascases in Ekiti and Osun defendant in the case, Anjide, Dauda Egwa, once held government po- tor Ituah Ighodalo will speak at the maiden Ibrahim, sitions. states. After all, they know knew what it was doing Suleiman Methodist Church of The Broworks Ltd and Green However, EFCC counsel Trinity, MCTT, Leadership they have the backing of the when it recommended Forest Investment Ltd. argued that the accused Attorney-General and the the reinstatement. And At the resumed hearing of persons’ counsel should Conference for Christian he forgets that part of the presidency.’’ Youths in Business and overall resolution of the the case on Monday, May have brought the applica- Public Life. The theme of the procrisis is the request by 21, 2012, prosecution coun- tion to quash the case beMoral deficiency gramme which will take the NJC that all cases sel, Dele Adesina, SAN who fore their plea was taken. He said the case of Fed- place at the auditorium of ACN said the Jonathan pertaining to it should be stood in for Kemi Pinhiero, SAN told the court that eral Republic of Nigeria vs. the Methodist Church of Administration’s moral withdrawn."
Salami: Jonathan administration lacks honourable character —ACN
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FRC, Mr. Jim Osanyande Obazee, said: “The regular practice is that ICAN president will suggest to the minister the names of persons that are fit and proper to fill the position. It is at the discretion of the minister to accept it or not. “But in this situation, the minister sent her list whereas the ICAN president had sworn in persons without the consent of the minister and because of that the council has not been able to meet. “ICAN council held its last meeting on January 18, 2012, and since then, they have not been able to meet and, that is a corporate governance issue. Section 11(e) of FRC Act says we should harmonise the activities as it relates to corporate governance in financial reporting.” He said the FRC had also written to the auditors of ICAN to explain why they signed the account that had not been signed. “Failure to comply with this directive may attract administrative civil and criminal sanctions. If they hold the AGM, we will take ICAN to court because we have written to them, telling them that their action is against the Companies and Allied Matters Act and the FRC Act,” Obazee said.
N18bn scam: Doma, others have case to answer, EFCC tells court
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Pinhiero urged the court to look at its record which showed that the accused persons having pleaded not guilty to the charges cannot go round to say the charges they listened to are now vague and ambiguous." The judge, after ruling that Doma and his co-accused persons have a case to answer, adjourned the case till June 11, 2012.
Kolade, Utomi, Ighodalo to address Christian youths
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The Trinity, Tinubu, Lagos at 10:00 a.m. is ‘The Building Blocks of Effective Leadership.’ According to the chairman of the Local Organising Committee, Rev. Oladapo Daramola, the aim of the conference which is scheduled for Saturday, is to inspire young men and women to seek or accept leadership responsibilities as part of their contribution to society, help them to increase awareness of current leadership challenges and to develop key values and ethics among these emerging leaders for effective leadership.