Connect with us

News

EFCC arrests Nova Bank chairman, Phillips Oduoza, Nath Ude

Published

on

Operatives of the Economic and Financial Crimes Commission (EFCC) have stormed the head office of NOVA Merchant Bank Limited to arrest the Chairman of the institution, Phillips Oduoza, and its Managing Director/Chief Executive Officer, Nath Ude.

NOVA Bank is an investment-grade merchant bank in Nigeria which offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Securities Trading, Wealth Management, Trade Services, Transaction Banking, Cash Management, and Digital Banking.

According to reports, EFCC officials stormed the bank’s head office at 23, Kofo Abayomi Street, Victoria Island in Lagos on Friday at noon to pick up Oduoza and Ude.

The duo are said to be under investigation following a petition by a staff member which accused them of fraud, conversion of tax, and dollar round-tripping.

Advertisement

“EFCC is at NOVA bank to pick up the Chairman and MD on fraud. They are being investigated because a staff wrote a petition on fraud relating to the conversion of tax, dollar round-tripping,” a worker disclosed.

Oduoza with about 30 years of banking experience, is the founder and Chairman of the board of Nova Merchant Bank Limited. He retired as the global CEO of UBA Group and was part of a small team that pioneered and established Diamond Bank Plc in the early 90’s.

The bank announced the appointment of Ude as its Acting Managing Director/Chief Executive Officer effective 3rd of October 2020.

Ude was Executive Director at First City Monument Bank (FCMB) and later Executive Director at Union Bank from where he joined NOVA. He started his banking career with Citibank.

ALSO READ  Brain drain: “5-10 of our members leave Nigeria weekly.”- Association of Resident doctors lament

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crime

Two jailed for stealing Dangote company’s armoured cables

Published

on

The Magistrate Court sitting in Ilaro, Ogun State, on Tuesday, sentenced Hussain Waziri aged 36 and Mustapha Aliyu, aged 33 years old, to one-year imprisonment for the two counts of conspiracy to steal and stealing made against them after pleading guilty to the offences.

Theheute learnt that Waziri and Aliyu were arrested last week Thursday by the operatives of the Nigeria Security and Civil Defence Corps, Ogun State Command, while stealing the armoured cables worth millions of naira within the Dangote Cement factory, Ibese, Yewa South Local Government Area of the state.

This was according to a statement from the Ogun State Commander of NSCDC, David Ojelabi, on Wednesday.

It was stated that an exhibit recovered from them was a special armoured cable, property of Dangote Plc, which is being used in transmitting and distributing power within the factory.

Advertisement

The statement partly reads, “The arrested gangs who are serial cable thieves allegedly conspired, jumped over the perimeter fence and accessed the (DCP-I) cable yard within the power plant, with the intent to commit a crime.

“At approximately 0336 hours, during the routine patrol at the power plant duty post, the NSCDC armed personnel sighted Mustapha Aliyu and Hussein Waziri while committing the heinous crime.

“The suspects violently engaged the security personnel with dangerous tools in order to escape arrest. Mustapha Aliyu was overpowered and eventually arrested while Hussein Waziri escaped with the stolen cable.

“Unfortunately for him, the NSCDC personnel conducted an intelligence-based ‘search and arrest’ operation and at about 0436 hours of the same night, Waziri, who had earlier escaped from the scene where he carted away the special armoured electrical cable, was rearrested, within the geofencing of the Dangote Cement Transport [DCT-I ] by the alerted NSCDC personnel assisted by the Dangote security guards.”

The convicts were said to have been transferred to the NSCDC state headquarters for a thorough investigation and prosecution. It was during the investigation that they confessed to committing the crime.

Advertisement
ALSO READ  Popular Lagos Restaurant Owner Attacked by In-Laws Over Alleged Witchcraft

Having pleaded guilty to the counts, the court sentenced them to a one-year jail term for each of the two counts of conspiracy to steal and stealing. The term is however to run concurrently on each of the two counts.

Reacting to the arrest and the conviction secured at the court, the Ogun State Commandant of the NSCDC, Ojelabi, reiterated the commitment of the security agency to the protection of critical infrastructure and ensuring that crime is stamped out of Ogun State and Nigeria at large.

Continue Reading

News

Guest dies during Lagos birthday celebration, host held

Published

on

A woman, Salisu Aishat, and seven others have been arrested in connection with the death of a yet-to-be-identified man in the Ijora Badia area of Lagos State.

Theheute gathered on Wednesday that Aishat was celebrating her birthday when she invited some guests to join her in the felicitation on Olayemi Street, Ijora Badia.

Our correspondent gathered that people were busy having fun during the celebration when the victim was suddenly found lying unconscious on the floor where the event was taking place.

In a bid to ascertain his condition, it was learnt that people moved closer to investigate what had happened to him and while assessing the victim, a wound was seen on his head, suggesting that something sinister had happened to him.

Advertisement

Speaking with our correspondent, a source who does not want his name mentioned in print for fear of victimisation said the development threw people who attended the party into confusion.

The source added that a fight broke out during the party and there was a possibility that the victim was injured during the fight.

The source said, “There was a party on Olayemi Street, Ijora Badia, and a fight broke out during the celebration. Suddenly, the man was found lying down on the ground and when people moved closer to him, they discovered he had died and a wound was on his head.

“The case was reported at the Ijora Badia Division and when policemen got to the scene and did their investigation, they arrested the celebrant who organised the party and some other persons.”

The state Police Public Relations Officer, Benjamin Hundeyin, when contacted, said the incident happened around 9.10 pm on April 16, 2024, and that it was a concerned member of the community who reported the case to the police.

Advertisement
ALSO READ  ‘I was always in my world’, Tems speaks on being bullied because of her voice

He added, “Immediately, the DPO led his patrol team to the scene and the celebrant, Salisu Aishat, and seven others were arrested. A wound was discovered on the head of the corpse.

“The corpse was evacuated and deposited in the Mainland Hospital morgue, Yaba, for preservation and autopsy. The investigation is ongoing.”

Continue Reading

News

Minimum wage: Meeting adjourned as Labour rejects fresh N54,000 offer

Published

on

Organised Labour has again rejected the latest offer of N54,000 minimum wage made by the Federal Government during the resumed national minimum wage negotiation on Tuesday.

The stalemate resulted in the postponement of the meeting to Wednesday following the inability of the labour leaders and government representatives to reach a consensus.

This was the third time the officials of the Nigeria Labour Congress and the Trade Union Congress and representatives of the government would fail to find a common ground on the national minimum wage.

Last week, the labour leaders walked out of a meeting hosted by the tripartite committee on minimum wage negotiation after the Federal Government offered to pay N48,000.

Advertisement

At the same time, the Organised Private Sector made an initial offer of N54,000 in response to labour’s proposed N615,000.

The National President of the NLC, Joe Ajaero, insisted on N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the current economic situation and the needs of an average Nigerian family of six.

He accused the government of failing to provide any substantiated data to support its offer, noting that this undermined the credibility of the negotiation.

To bring back labour to the negotiation table, the Chairman of the Tripartite Committee on National Minimum Wage, Alhaji Bukar Goni, informed the group that the government had agreed to raise the N48,000 it earlier proposed.

However, at the Tuesday meeting, the government proposed N54,000 but labour insisted on its N615,000 living wage demand.

Advertisement

Labour officials, who were privy to the negotiation, said the Federal Government increased its offer from N48,000 to N54,000.

ALSO READ  Tinubu donates N50m to train attack victims

The sources declined to be quoted because they were not permitted to disclose the details of the negotiation to the media.

N54,000 offer

One of the officials said, “Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer and the meeting has been adjourned to Wednesday (today).’’

Another source stated, “They didn’t show any seriousness at all. As regards the private sector, we did not get to them before the meeting was adjourned but we hope they would also increase their initial offer.”

Advertisement

Also, speaking anonymously, a top labour leader noted that the government was ashamed about its offer “Because it knew it was not realistic and it knew it was not going to be accepted.’’

“They knew it was embarrassing to offer workers that kind of paltry sum. Negotiation has not started; negotiation can only start when the government shows seriousness in negotiating,” he stated, warning state governors and the OPS.

He added that organised labour could not negotiate wage reduction because private sector workers were receiving N77,000.

Ajaero and Usifo could not be reached for comments on the stalemated meeting as calls to their phone rang out. They did not respond to messages seeking their comments on the development.

But the Deputy President of NLC Political Commission, Prof. Theophilus Ndubuaku, told Theheute that the Federal Government was deliberately frustrating the Nigerian workers.

Advertisement

Ndubuaku stated that the government was not showing empathy despite knowing that the masses were struggling to adjust to the hardship and inflation occasioned by its policies.

He said, “We are worried about this government. It was as if we were negotiating with people who were not Nigerians. They are behaving like expatriates or people from outer space. We don’t understand.

ALSO READ  CardinalStone Securities Limited executes the largest block deal in the Nigerian Capital Market

“They were offering N54,000 as the minimum wage as if they were expecting us to negotiate a deregulated salary structure. As it is now, nobody is earning anything below N77,000.

“You recall there was N30,000 minimum wage plus the N35,000 they added as wage award. Before that time, there was a 40 per cent increase in the existing wage making the whole thing N77,000. Now, imagine how they are now offering us something far lower than what workers are expected to take home.’’

He added, “Imagine if we walk out of that negotiation agreeing to such terms, will Nigerian workers not mob you? This government doesn’t know the implications of what they are doing.

Advertisement

“It has never happened anywhere in the world before where everything including foodstuff is increasing and you are concentrating on wage decrease in a country where hardship is hitting everybody. To us, it looks like these people are either joking or they are from outer space.”

On the next course of action being considered by the NLC following the fiasco, Ndubuaku said the unions are returning to the negotiation table on Wednesday from where they would decide whether to tell workers to stay back home until the Federal Government comes up with an acceptable offer.

“The Plan B is that we have adjourned till tomorrow (today). But if they continue with this joke, the workers themselves will give them the answer to that joke.

“We will have to tell them that we didn’t succeed and everybody should sit at home. That is the way it is going to be until they wake up,” he stated.

ALSO READ  Flood: Take alternative routes, NEMA urges residents of Lagos community

The Federal Government could not be reached for comments as the Minister of Information, Mohammed Idris, did not return calls and a message sent to his line.

Advertisement

Group faults govt

Commenting on the stalemate, the Campaign for Democratic and Workers’ Rights described the N48,000 and N54,000 minimum wage proposals by President Bola Tinubu-led government and the OPS as a huge joke.

The CDWR in a statement by its National Chairperson, Rufus Olusesan and National Publicity Secretary, Chinedu Bosah, observed that the N48,000 offered by the Tinubu-led government was a natural response “from a government whose agenda for growing the exploitative capitalist economy is to further enrich the privileged-few and pauperise the working masses.’’

The group stated, “The capitalist government and the private company owners have always stated that there is no money to pay workers a living wage, but money is readily available for frivolities, profligacies, insane privileges and payment of jumbo salaries and allowances to top political office holders and management staff.

“SUV cars were bought for N57.6bn by National Assembly members. This is one of the numerous examples of profligacies that have become the hallmark of the capitalist ruling elite. While workers earn their wages through their productivity, the capitalist ruling elite are parasitic on the economy.’’

Advertisement

The CDWR said the NLC and TUC leadership got it wrong when it refused to resist ‘’the anti-poor neo-liberal policies and instead sought to secure some remedy for Nigerian workers through wage review.’’

Continue Reading

Trending

Copyright © 2022 TheHeute.