Court Jails Fake BDC Operator In Lagos
Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos has convicted and sentenced one Faruk Umar to six months imprisonment.
The convict, alongside others, was arrested on August 26, 2024, following credible intelligence on the activities of illegal Bureau De Change operators at the Eko Hotel area of Victoria Island, Lagos.
He was subsequently arraigned by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on fraudulent foreign exchange transactions.
The charge reads: “That you, Faruk Umar, sometime in August, 2024 at Eko Hotel Area, Victoria Island Lagos State, within the jurisdiction of this Honourable Court, engaged in a foreign exchange transaction other than through the official foreign exchange market and you thereby committed an offence contrary to Section 11(1) (a) of the National Economic Intelligence Committee Establishment, (ETC) Act, 1994 and punishable under Section 11(2) of the same Act”.
He pleaded “guilty “ to the charge when it was read to her.
In view of his plea, prosecution counsel, C.C.Okezie, sought to present an investigative officer of the EFCC, Hamisu Sanni, to review the facts of the matter.
Sanni narrated that the convict confessed to being involved in buying and selling of foreign currency without a licence from the Central Bank of Nigeria, CBN.
He told the court that Umar’s phone was subjected to forensic examination, adding that “ It revealed over 40 conversations related to forex transactions with other individuals.”
Thereafter, Okezie, through Sanni, tendered in evidence the confessional statements of the convict as well as findings from the investigation.
Okezie, therefore, prayed the court to convict him as charged and also sentence him accordingly.
Justice Aneke found Umar guilty of the offence and sentenced him to six months imprisonment.
The judge also pronounced a fine of N50,000( Fifty Thousand Naira only), in lieu of the prison sentence, which should be paid into the Consolidated Revenue Account of the Federation.
His phone was also forfeited to the Federal Government of Nigeria.
Umar’s road to the Correctional Centre began when he was arrested by operatives of the EFCC for dealing in foreign exchange transactions without a requisite licence from the Central Bank of Nigeria, CBN.
He pleaded guilty to a lone- count charge raised against him and was convicted.
PR
Minister of Aviation and Aerospace Development, Festus Keyamo, is meeting with the staff of the Nigerian Meteorological Agency (NiMET) in Abuja in an effort to resolve the ongoing industrial strike action that has disrupted flight operations across the country.
The closed-door meeting seeks to address grievances raised by NiMET workers, including the non-implementation of the national minimum wage, exclusion of certain employees from past allowances, and the neglect of critical training programmes.
Present at the meeting were the Director General of NiMET, representatives from the Nigerian Civil Aviation Authority (NCAA), the National Union of Transport Employees, and other key stakeholders.
Also in attendance are members of several unions, including the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees, the Association of Nigerian Aviation Professionals, and the National Union of Air Transport Employees.
The strike, now in its second day, has significantly affected flight schedules at several airports, including the Nnamdi Azikiwe International Airport in Abuja and the Murtala Muhammed International Airport in Lagos, leaving passengers stranded.
In a statement, Air Peace cited safety concerns as the reason for its decision to suspend flights amid the disruption
In a bid to improve access to affordable housing across Nigeria, the Nigeria Government is set to introduce tax incentives aimed to reduce the burden on real estate developers and building material suppliers,
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, made this known at a Building and Construction Industry Forum in Abuja.
Mr. Oyedele noted that the recently signed tax reform bills include provisions that would lower the cost of building materials and stimulate investment in the construction sector.
According to him,“It will reduce the tax burden—whether you’re buying, building, or selling real estate,”
“That’s the essence of these reforms: to make life better for everyone and to boost economic activities in the building and construction sector, and by extension, the entire economy.”
He emphasized that the government’s commitment to creating more accessible mortgage options for Nigerians across all income levels and called for greater collaboration among industry stakeholders to address persistent issues such as multiple taxation.
Also speaking at the forum, Minister of Housing and Urban Development, Mr. Ahmed Dangiwa—represented by Director of Public Building, Mr. Temitope Gbemi—highlighted the potential of the tax reforms to integrate the informal economy into the formal construction sector.
He encouraged builders and developers to incorporate capital gains into project planning for better cost documentation and tax planning.
Dr. Samson Opaluwa, Chairman of the Council of Registered Builders of Nigeria (CORBON), expressed optimism that the reforms would enhance revenue generation within the sector.
He underscored the need for inclusive discussions given the industry’s composition.
“This industry is largely driven by SMEs, which produce about 60 to 70 percent of the country’s housing stock,” he noted.
On his part, the Executive Director of the Housing Development Advocacy Network (HDAN), Mr. Festus Adebayo, stressed the need for the government to provide incentives to developers interested in social housing. He criticized the high costs, multiple charges, and bureaucratic hurdles that make affordable housing a distant reality.
The Federal Government has commenced a three-day Induction Programme for newly appointed Permanent Secretaries and the Accountant-General of the Federation.
The programme is designed to strengthen strategic leadership and policy execution at the topmost level of the federal bureaucracy.
Declaring the programme open, in Abuja, the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, congratulated the appointees and described their roles as critical to effective governance and national development.
The Head of Service who noted that Permanent Secretaries serve as the engine room of government, responsible for driving policy implementation, institutional performance, and service-wide reform urged the inductees to uphold the highest standards of integrity, diligence, and teamwork,
She stressed that the success of the Renewed Hope Agenda and the Federal Civil Service Strategy and Implementation Plan 2021–2025 (FCSSIP 25) depends significantly on their leadership.
“This final lap of FCSSIP 25 calls for urgency, accountability, and strategic focus. You must translate vision into measurable results,” she said.
In a welcome address, the Permanent Secretary, Career Management Office, Mrs. Fatima Mahmood, described the programme as a strategic investment in leadership capacity and institutional effectiveness.
The Sessions featured expert-led discussions, simulations, and strategic briefings facilitated by Engr. Suleiman Adamu, former Minister of Water Resources; Dr. Hadiza Bala Usman, Special Adviser to the President on Policy and Coordination; Mrs. Beatrice Jedy-Agba, Solicitor-General of the Federation and Permanent Secretary Federal Minister of Justice; Alh. Yusuf Addy, retired Federal Director; Alhaji Bukar Goni Aji, former Head of the Civil Service of the Federation; Amb. Mustapha Lawal Suleiman, Mr. Adesola Olusade, and Dr. Ifeoma Anagbogu, all retired Permanent Secretaries.
Participants include Dr. Obi Emeka Vitalis, Mrs. Fatima Sugra Tabi’a Mahmood, Mr. Danjuma Mohammed Sanusi, Mr. Olusanya Olubunmi, Dr. Keshinro Maryam Ismaila, Dr. Akujobi Chinyere Ijeoma, Dr. Umobong Emanso Okop, Dr. Isokpunwu Christopher Osaruwanmwen, Mrs. Oyekunle N. Patience, Dr. Kalba U. Danjuma, Mr. Nadungu Gagare, Mr. Onwusoro I. Maduka, Dr. Usman Salihu Aminu, Mr. Ogbodo Chinasa Nnam, Mr. Ndiomu Ebiogeh Philip, Dr. Anuma N. Ogbonnaya, Mr. Adeladan Rafiu Olaninre, and Mr. Mukhtar Yawale Muhammed, as well as the Accountant-General of the Federation, Mr. Shamseldeen Babatunde Ogunjimi.
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