News
Tinubu’s Men Named In 16.4 Billion Naira Scandal (the WEMA Bank connection)

Bank records of Ocean Trust Limited showed how the company hurriedly shuffled billions of naira between its accounts with Wema Bank.
Between January and June 2019, Ocean Trust summarily moved N16.4 billion from its operations accounts into a fixed deposit account, all domiciled at Wema Bank, a bank.
Ocean Trust was specifically mentioned in Mr. Apara’s court documents as one of the firms allegedly used to siphon funds from Alpha-Beta, the controversial Lagos tax contractor whose financial activities have come under scrutiny amidst ongoing publications by the Gazette.
Alpha-Beta has received billions from Lagos treasury since Mr. Tinubu was governor, according to Apara who said the firm received N150 billion in the past 15 years from Lagos.
Most of the transactions, which Mr. Apara said were later laundered through fronts, were conducted in secrecy, and Mr. Tinubu and his successors have rejected all requests to publish the state’s financial records.
On January 2, 2019, Ocean Trust moved N1.5 billion from its 0702892574 Wema Bank account to another 0122613238 account within Wema Bank. The description for the transaction was labelled “Closure proceeds”. A week after on January 9, N800 million was transferred to the same bank account.
On January 16, 2019, N500 million was also transferred to the same account. N1.5 billion, N800 million, and N500 million were transferred to the 0122613238 Ocean Trust account on February 1, February 8 and February 15 in 2019, respectively.
The same account got N1.5 billion on March 4, while N800 million and N500 million were transferred on March 11 and 18, 2019.
On April 3, the account received yet another N1.5 billion while N800 million was credited to it on April 10 and another N500 million on April 17.
N1.5 billion was moved to the account on May 3 while N600 million and N500 million were credited to the account on May 10 and May 17 respectively.
On June 3, N1.5 billion was transferred to the Ocean Trust account with another N600 million on June 10 and another N500 million on June 17.
The suspicious N16.4 billion transactions that went into a fixed deposit with Wema Bank were also carried out with 08092317155, a telephone number linked to a TVC executive Adefarakan.
On April 10, 2019, N200 million was transferred directly from Ocean Trust to Continental Broadcasting Service, the parent company of TVC which Mr. Tinubu admitted he had shares in a statement last month.
The broadcaster also received N10 million directly from Ocean Trust on June 14, 2019, even though the company had already been exposed as a shell business by Mr. Apara.
Also on the registration filings of Ocean Trust was Frank Obi, group executive director of Paragon Holdings.
Paragon built Ikeja City Mall, Circle Mall, Oshodi LAWMA Complex, Simpson LAWMA Complex and once held a 20 percent stake in Ikeja City Mall. Mr. Obi, who is also a non-executive director at Primero, had two million shares in Ocean Trust.
Kehinde Durosinmi-Etti, head of Lagos State Security Trust Fund, was also on Ocean Trust CAC document obtained by the Gazette with 2.4 million shares, alongside a former senator Jonathan Zwingina, who had 2.5 million shares.
Wema Bank account opening package obtained by the Gazette showed Mr. Adefarakan was a signatory to Ocean Trust’s financial activities.
News
Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

The Lagos State House of Assembly convened for a crucial legislative session yesterday, but an unexpected absence stole the spotlight, the ousted Speaker Mudashiru Obasa was nowhere to be seen. The sitting, which focused on key legislative matters and a commendation of President Bola Ahmed Tinubu’s leadership, went on without Obasa, raising eyebrows among lawmakers and political observers alike.
New Speaker Mojisola Meranda presided over the proceedings, ensuring the session ran smoothly. During deliberations, the lawmakers took turns applauding President Tinubu for his strides in governance, particularly his economic and infrastructural policies aimed at revitalizing Lagos and Nigeria as a whole. However, whispers about Obasa’s absence could not be ignored.
Sources within the Assembly remained tight-lipped on the reason for his nonappearance, fueling speculation.
As lawmakers dispersed after the session, the big question lingered where was Obasa? For now, the mystery remains, but all eyes will be on the next sitting to see if the seasoned politician resurfaces.
lifestyle
Meet The New 47-year-old Alaafin Of Oyo, Prince Akeem Owoade

Prince Akeem Owoade is a Nigerian and Canadian entrepreneur, philanthropist, and president of 100279 Manitoba Limited, a real estate investment and financial services business in Manitoba, Canada.
Born 47 years ago to a prominent and royal family of Owoade-Agunloye in Oyo town, Prince Akeem Owoade is one of the surviving children of Pa Rasaki Ibiyosi Owoade, the descendant of Aremo Aderounmu Iyanda Owoade, Agure Compound, Oyo town in Oyo State, Nigeria.
aking an early interest in engineering, Prince AkeemOwoade began his engineering studies by completing his National Diploma and Higher National Diploma in Mechanical Engineering from ‘The Federal Polytechnic, Ilaro, Ogun State (1994 to 1997) and The Polytechnic, Ibadan (1999 to 2001), Oyo State. Nigeria respectively. He did his NYSC with Nigeria Gas Company as Mechanical Intern/Planner in 2002.After the completion of his NYSC, he worked with Oceanic Bank International Plc. in Warri as a teller. (2003 to 2004).
Prince Akeem Owoade decided to further his education in the United Kingdom where he attended University of Sunderland (2008) and Northumbria University (2012)
News
Panic As Governor’s Official Car Got Stolen

Confusion and fear was the order of the day at one of the Government houses in the Southwest some days ago when one of the official vehicles of the Governor, a bullet-proof jeep allegedly disappeared from the garage.
The SUV which is said to be one of the three bullet-proof vehicles being used for the Governor’s official assignment was discovered missing.
The Governor who was out of the country on a short, rest leave was claimed to have been disturbed when he was alerted.
Sources claimed it wasn’t the first time things would get missing at the Governor’s private residence.
‘There had been series of thefts, ranging from missing cash, phones and other expensive items, it’s usually swept under the carpet. Indiscipline is the order of the day here’, a source confirmed this to papermacheonline.
The State Governor, a quiet individual who is spending his second time in office was said to have been disturbed by the occurrence that he had to cut short his leave and return home. One of his closest aides was also kidnapped recently.
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