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Daily Post Nigeria ICPC arraigns ex-bank MD, CEO over alleged money laundering Home News Politics Metro Entertainment Sport News ICPC arraigns ex-bank MD, CEO over alleged money laundering Published on November 27, 2024 By John Owen Nwachukwu The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has arraigned a former Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria, FMBN, Gimba Kumo Ya’u. He was arraigned alongside two others over an alleged diversion of $65,000,000. The money was meant for the development of 962 units of residential housing units in Kubwa District in Abuja. Ya’u was brought before Justice James Omotosho of the Federal High Court, Abuja, alongside Mr Bola Ogunsola, former Executive Director and Tarry Rufus, Managing Director of T-Brend Fortunes Nigeria Limited. The ICPC told the court in a charge sheet marked FHC/ABJ/CR/333/24 that the alleged offences of the defendants go against the Public Enterprises Regulatory Commission Act and Section 19 of the Money Laundering (Prevention and Prohibition) Act, 2022. In a five-count charge, the anti-graft commission told the court that the ex-bank CEO made payment to Good Earth Power Nigeria Limited in the sum of N3,785,000,000 out of the total contract sum of $65,000,000. The money was meant to erect 962 units of residential housing in Kubwa, Abuja, named “Goodluck Jonathan Legacy City.” ICPC alleged that Yau and Ogunsola, in their roles as CEO and ED of the bank in August 2012, had secured a loan of N14 billion from Ecobank Nigeria PLC on behalf of the bank. ICPC further alleged that Yau, as the then CEO of FMBN, awarded the $65 million contract despite knowing that the company lacked the capacity to carry out the contract. It added that the project remains incomplete “as of today.” The other defendants were accused of giving and receiving $3,550,000 of the contract sum in cash in contravention of the Money Laundering Act. Tarry Rufus, Good Earth Power Nigeria Limited and T-Brend Fortunes Limited were accused of directly converting the sum of N991,399,255 into $3,550,000 and handing over the same to one Jason Rosamond (now at large) in cash, contrary to Section 18(2) (b) and punishable under Section 18 (a) of the Money Laundering (Prevention and Prohibition) Act 2022. The defendants, however, pleaded not guilty when the charges were read to them. Following their plea, the judge adjourned the case until February 6, 2025, for the commencement of trial. Related Topics: ICPC Money Laundering Don't Miss Former UNIZIK VC Odoh sues FUGUS over denial of professorship, employment status You may like Illegal degree mill: ICPC re-arraigns professor, two others ICPC tracks N4bn constituency projects in Imo ICPC tracks N13.9bn FG projects in Niger ICPC tracks N610bn constituency projects in 21 states, FCT Supreme Court dismisses suit by 19 States challenging constitutionality of EFCC, ICPC, NFIU ICPC presents annual scorecard to Senate, identifies challenges Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media Ltd
US CEO Slaying Suspect Charged With Murder As 'Act Of Terrorism'
Los Angeles has so far this year recorded double-digit percentage declines in homicides, nonfatal shootings and slayings stemming from gang feuds, according to police data released Tuesday. City officials touted the numbers as proof that public safety is improving after concerns about crime motivated voters in November’s election. Mayor Karen Bass highlighted the numbers Tuesday at an early morning news conference at Watts Labor Community Action Committee Center, a jobs and social services nonprofit. Bass said that through the first week of December, there were 266 people killed citywide, a decline of 15% compared with the number slain in the same period in 2023. The decrease was even more dramatic — a 28% drop — when measured against numbers from 2022 when violence ebbed after the first two years of the pandemic. The latest figures show that the number of shootings in which someone was struck but not killed fell by nearly 19% when compared with 2023, while gang-related homicides fell by more than 50%. The mayor attributed the declines to growing collaboration between LAPD officers and community members in neighborhoods hit by violence. She also credited proactive enforcement efforts, such as the creation of a smash-and-grab retail crime task force that has led to hundreds of arrests and the recovery of more than $60 million in stolen merchandise. “What we’ve shown this year is that when a crime is committed here in the city, we don’t wait, we take action,” Bass said, also praising the work of interventionists and community programs such as Summer Night Lights that work to quash gang beefs and prevent violence. New LAPD Chief Jim McDonnell said he was heartened by the declining crime statistics, which come despite the department’s staffing woes. “These numbers represent lives saved, families preserved and communities being given the opportunity to heal and thrive,” he said. Watts Gang Task Force President Donny Joubert said that the sustained levels of calm were being felt particularly in some of the area’s public housing developments, where briefings by police leaders that used to be dominated by updates on recent gun violence are now focused on more mundane crimes. “We talk about maybe a couple cars got broken in, that’s huge. No shootings,” he said. Similarly dramatic declines in violent crime from early pandemic highs were reported in nationwide surveys and data from 500 to 1,000 local police departments. Even with statistics that show killings and other serious crimes trending downward, recent election results show the public remains concerned about safety — or the perception that cities are unsafe. Voters ousted progressive prosecutors in L.A. and Alameda counties after campaigns in which crime was a central issue, and also resoundingly approved the tough-on-crime measure Proposition 36, which extends prison sentences for some thefts and drug offenses. Criminologists point out that the reasons why crime rises and falls are complex, with police data offering only a snapshot in time. LAPD officials have themselves cautioned that year-over-year comparisons are nearly impossible for certain types of crimes since the department switched over to a new record-keeping system earlier this year.President Joe Biden described the sudden collapse of Syrian President Bashar Assad's government as a 'fundamental act of justice' following decades of severe repression. Speaking from the White House, he acknowledged the accompanying risks and uncertainties for the Middle East. The takeover by rebel groups ends over a decade of civil war and decades of Assad family rule. Biden credited the U.S. and allies for weakening support from Russia, Iran, and Hezbollah, noting this shift in power as significant. Biden reaffirmed the U.S. military presence in Syria, while focusing on new threats from terrorist entities. This geopolitical development coincides with ongoing instability in the region, including conflicts involving Russia and Ukraine. (With inputs from agencies.)
Large scale hydrogen storage sites could reduce customer energy costs by £1bn per year
One of the country’s largest health insurers reversed a change in policy Thursday after widespread outcry, saying it would not tie payments in some states to the length of time a patient went under anesthesia. Anthem Blue Cross Blue Shield said in a statement that its decision to backpedal resulted from “significant widespread misinformation” about the policy. “To be clear, it never was and never will be the policy of Anthem Blue Cross Blue Shield to not pay for medically necessary anesthesia services,” the statement said. “The proposed update to the policy was only designed to clarify the appropriateness of anesthesia consistent with well-established clinical guidelines.” Anthem Blue Cross Blue Shield would have used "physician work time values," which is published by the Centers for Medicare and Medicaid Services, as the metric for anesthesia limits; maternity patients and patients under the age of 22 were exempt. But Dr. Jonathan Gal, economics committee chair of the American Society for Anesthesiologists, said it's unclear how CMS derives those values. In mid-November, called on Anthem to “reverse the proposal immediately,” saying in a news release that the policy would have taken effect in February in New York, Connecticut and Missouri. It's not clear how many states in total would have been affected, as notices also were and . People across the country registered their concerns and complaints on social media, and encouraged people in affected states to call their legislators. Some people noted that the policy could prevent patients from getting overcharged. Gal said the policy change would have been unprecedented, ignored the “nuanced, unpredictable human element” of surgery and was a clear “money grab.” “It’s incomprehensible how a health insurance company could so blatantly continue to prioritize their profits over safe patient care,” he said. "If Anthem is, in fact, rescinding the policy, we’re delighted that they came to their senses.” Prior to Anthem's announcement Thursday, Connecticut comptroller Sean Scanlon said the “concerning” policy wouldn't affect the state after conversations with the insurance company. And New York Gov. Kathy Hochul said in an emailed statement Thursday that her office had also successfully intervened. The insurance giant’s policy change came one day after , another major insurance company, was shot and killed in New York City. The Associated Press Health and Science Department receives support from the Robert Wood Johnson Foundation. The AP is solely responsible for all content.The distinct identities of each region of Thailand are reflected through 11 handcrafted Christmas trees currently on display at 11 Central shopping centres nationwide, until Jan 5. Following the success of the 14m-tall Mok Panwa Christmas Tree made from natural fabric that proudly stood amidst the festive atmosphere at Central Chiang Rai back in 2021, the initiative by Central Pattana continues with close collaboration with local artists and communities to create unique Christmas trees that blend the charm of Western and Eastern cultures. The result is a groundbreaking phenomenon with 11 Local Pride Christmas Trees ranging from 5m to 20m in height, each of which profoundly reflects the unique identity and pride of its locale. The line-up includes a new 15m-tall Mok Panwa Christmas Tree made from naturally dyed raw cotton and sewn by hilltribe artisans from Doi Tung, at Central Chiang Rai; the Lanna Art Of Happiness Christmas Tree decorated with 500 traditional Chiang Mai umbrellas and woven bamboo, at Central Chiang Mai; and the Charm Of Chanthaburi Christmas Tree which incorporates the beauty of Chanthaburi mats and is topped with a star decorated with precious gems. The Dan Kwian Christmas Tree at Central Korat in Nakhon Ratchasima is a 5m-tall clay creation by highly skilled artisans from Dan Kwian, led by Mitr Nakorndin; while the Silk Mudmee Christmas Tree at Central Khonkaen features intricate patterns in red and gold, using a delicate silk thread process that combines tying and dyeing techniques. Representing the pride of the South are the Peranakan Christmas Tree inspired by Peranakan fabric patterns, at Central Phuket; the Phetra Chalalai Christmas Tree that blends multicultural influences and captures the harmonious bond between people and the sea, at Central Hatyai; the Montra Mahanakhon Christmas Tree that celebrates the Manorah headdress, at Central Nakhon Sri Thammarat; and the Tree Of Life Christmas Tree crafted from natural materials such as coconut shells, husks, fibres and leaves, with a bamboo frame, at Central Samui in Surat Thani. Crafted from Samut Sakhon sea salt, one of the largest salt-producing provinces, the Salt Christmas Tree at Central Mahachai symbolises the deep connection between its people and salt farming. At Central WestGate in Nonthaburi, Nonthaburi's Sense Christmas Tree features the finest of local treasures -- wicker works, oversized ceramic plates, earthernware, handwoven loincloths, tie-dyed linen fabrics and local fruits. Visit centralpattana.co.th/en/shopping/shopping-update/lifestyle-activities. The Mok Panwa Christmas Tree at Central Chiang Rai. Central Pattana The Tree Of Life Christmas Tree at Central Samui. Central Pattana The Phetra Chalalai Christmas Tree at Central Hatyai. Central Pattana
How major US stock indexes fared Thursday, 12/5/2024
