N29bn Fraud: Court Adjourns Nyako’s Trial to Oct. 23

Hamilton Nwosa
Writer

Ad

Reputational Crisis Hits Nestoil as Police Seal Firm over $1bn Debt

By Abiola Olawale In a dramatic turn of events, the corporate headquarters of an indigenous oil and gas giant, Nestoil Limited, in Lagos State, was sealed by police on Tuesday, following a Federal High Court order that placed the company under receivership over a colossal $1.01 billion and ₦430 billion debt dispute. The enforcement action,…

WTI edges lower to near $60.00 on OPEC+ output plans

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.15 during the early Asian trading hours on Wednesday. The WTI declines amid a potential plan by the Petroleum Exporting Countries and its allies (OPEC+) to raise output. Traders await the Energy Information Administration (EIA) crude oil stocks change report later on Wednesday.…

Sylva’s Aide Breaks Silence on Military Raid on Residence, Reveals What Happened 

By Abiola Olawale Julius Bokoru, the Special Assistant on Media and Public Affairs to former Minister of State for Petroleum Resources, Chief Timipre Sylva, has confirmed that military operatives recently raided the residence of his principal. However, the aide dismissed swirling rumours linking his principal to a purported coup plot against the government of President…

Ad

Justice Okon Abang of the Federal High Court, sitting in Maitama, Abuja, on Wednesday, July 4, 2018, adjourned the trial of a former governor of Adamawa State, Murtala Nyako, to October 23, 2018 for continuation of the examination in-chief of the twentieth prosecution witness, Adekunle Odofin.
Odofin, a detective with the EFCC testified to the effect that the petition against the defendant was investigated by his team. Documents establishing the alleged offence against the defendant were tendered through the witness and admitted in evidence by the court.
At the resumed sitting today, Ibrahim Isiyaku, SAN, representing Senator Abdul-Aziz Nyako and Zulkifikk Abba (second and fourth defendants respectively) and Y. C Maikyau, SAN, representing ‎Abubakar Aliyu (third defendant) sought leave of the court for the international passports of their clients to be released to them, to enable them travel abroad to see their families and perform their religious rites.
Justice Abang, in a bench ruling opined that “the three applications before the court deserve to succeed as the defendants have always attended their trial and have not done anything to delay their trial”.
“The Chief registrar of this court shall release their international passports to enable them travel to Saudi Arabia to perform their religious rites. They shall return on or before September 30, 2018 and deposit their international passport till the end of their trials”, the judge ruled.
Nyako is being prosecuted by the Economic and Financial Crimes Commission, EFCC, alongside his son, Senator Abdul-Aziz Nyako, Abubakar Aliyu and Zulkifikk Abba on a 37-count charge of criminal conspiracy, stealing, abuse of office and money laundering to the tune of N29billion.
Five companies that allegedly served as conduit pipes for the illegal diversion of the funds – Blue Opal Limited, Sebore Farms & Extension Limited, Pagoda Fortunes Limited, Tower Assets Management Limited and Crust Energy Limited, were equally charged before the court as the 5th to 9th defendants.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp