Connect with us





The Federal Government on Wednesday arraigned the chief executive officer of Golden Tulip Hotel Amaechi Ndili and his wife Njide over alleged $4.7 million fraud.

Ndili is also the CEO of Lionstone Offshore Services Ltd while his wife is the company’s vice-president.

The couple was arraigned before an Ikeja Special Offences Court on a three-count amended charge.

They are standing trial alongside Lionstone Offshore Services on charges of conspiracy, stealing and illegal conversion of money for personal use.

The defendants, however, pleaded not guilty to the charges brought against them by the Federal Government.

According to the prosecution counsel, ACP Simon Lough, the defendants dishonestly converted $4.7 million which they received from Addax Petroleum Development Nig. Ltd on behalf of Hercules Offshore Nig. Ltd.

Lough alleged that the defendants obtained the sum for a contract that Lionstone Offshore Services entered into with Addax Petroleum Development Nig. Ltd which was executed by Hercules Offshore Nig. Ltd.

The prosecution counsel submitted that the defendants failed to remit the money to Hercules.

“Lionstone Ltd. was engaged by Hercules as its local partner and it received payments on its behalf in respect of contract it executed for Addax Petroleum Development Nig. Ltd.

“The $4.7 million formed part of the payments the defendants received on behalf of Hercules but they failed to remit to Hercules in accordance with their agreement,” the prosecution counsel said.

The couple’s lawyer Ebun Shofunde (SAN) prayed the court to grant them bail.

Shofunde informed the court that the first defendant (Amaechi) had been granted bail when he was arraigned before Justice Sherifat Sholebo.

Justice Olubunmi Abike-Fadipe admitted the second defendant to bail in the sum of N20 million with two sureties in like sum.

The judge allowed the first defendant to continue with the bail earlier granted him.

Abike-Fadipe said that the sureties must have evidence of tax payment.

She also directed that one of the sureties must have a landed property in Lagos State.

The judge held that the court would remand the second defendant in a correctional facility if she would not meet the bail conditions within 14 days.

The alleged offences contravene Sections 516 and 387 of the Criminal Code, Laws of Nigeria, 2004.


The judge adjourned commencement of trial to January 30, 2023.

Continue Reading


From Boardroom To Politics, Ex-First Bank Boss Eyes Oyo Governor’s Seat




Adesola Adeduntan, the erstwhile Managing Director of First Bank has been named as one of the would-be successors of the Governor of Oyo State, Seyi Makinde come 2027.


The banker who was allegedly eased out of banking for some undisclosed misdemeanors is claimed to have began consultations as he charts a new path in politics.


Sources hinted that Adeduntan had been interested in an elective position but his participation was measured because of his banking career. But now, the coast is clear and he is already aligning himself with some stakeholders ahead of 2027.


A list of names including Ilaji boss, Dotun Sanusi, Taofeek Arapaja, Stanley Olajide and many more has features as interested minds gunning for the number one seat in Oyo, a list Adeduntan has recently joined.

Continue Reading


Ex First Bank Boss, Afonja Dies In Auto Crash




-Femi Bamgbose


Details have emerged on Monday, 20th May, 2024 regarding the tragic death of a former Chairman of First Bank Plc, Ajibola Afonja.


The 82 year-old man was said to have died in a car accident.


The accident occurred somewhere around Oyo town.


Sources hinted papermacheonline that the former Minister popularly known by his company name ‘IDS’ Integrated Dimensional System was rushed to the University College Hospital, Ibadan where he eventually gave up the ghost.


The news spread like wildfire within the society circle across Oyo State where Afonja was highly revered.


Family sources claimed he would be buried today according to Islamic rites.

Continue Reading


‘How Yahaya Bello Withdrew Almost $1M From Kogi Account To Pay Child’s School Fees’ EFCC boss, Olukoyede




The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that a former governor of Kogi State, Yahaya Bello, transferred $720,000 from the government’s coffers to a bureau de change before leaving office to pay in advance for his child’s school fee.


Olukoyede revealed this during an interview with journalists on Tuesday in Abuja.


He said, “A sitting governor, because he knows he is going, moved money directly from government to bureau de change, used it to pay the child’s school fee in advance, $720,000 in advance, in anticipation that he was going to leave the Government House.


“In a poor state like Kogi, and you want me to close my eyes to that under the guise of ‘I’m being used.’ Being used by who at this stage of my life?”



Olukoyede further stated that he personally reached out to Bello, offering him a chance to clarify the situation in a respectful setting within the EFCC office but the ex-governor reportedly declined to cooperate, citing fears of harassment from an unnamed woman.


The EFCC boss added, “I didn’t initiate the case; I inherited the case file. I called for the file, and I said there are issues here.


“On my own, I called him, which I am not supposed to do, just to honour him as an immediate past governor. ‘Sir, there are issues. I’ve seen this case file. Can you just come let us clarify these issues?’



“He said, ‘Ha! Thank you, my brother. I know, but I can’t come. There’s one lady that has surrounded EFCC with over 100 people to come and embarrass me and intimitade me.’


Bello was said to have suggested that the EFCC come to his village rather than conduct an investigation at the agency’s quarters.


“I said if that is the issue, I’m going to pass you through my own gate, and you will come to my floor. We will accord you that respect. I will invite my operatives; they will interrogate and interview you in my own office. What could be more honourable than that to allay the fear?


“You know what he said: ‘Thank you, sir, but can’t they come to my village? Olukoyede added.


The chairman also highlighted the agency’s achievements during his tenure, stating, “We have recovered close to 120 billion and secured over 1,600 convictions in six months.


“I’m so passionate about the need for us to move forward in this country. We need the EFCC to survive. There are so many victims that we have wiped tears off their eyes, people that have been swindled in their millions. Every day, we keep recovering money for victims.”


PUNCH Online reports that the EFCC chairman, Olukoyede, has vowed to resign from his position if Yahaya Bello is not prosecuted.


The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion.

Continue Reading