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SENATE COMMENDS ZENITH BANK FOR FULL REMITTANCE OF CUSOMS COLLECTIONS, DIRECTS OTHER BANKS TO MAKE REFUNDS

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The Senate Committee probing the Customs N30 trillion banks remittance infractions has given the Central Bank of Nigeria (CBN) seven days to recover all monies collected by banks on behalf of the agency.

Among banks directed to make refund are Access Bank, N42bn; Diamond Bank, N75bn;FCMB, N14bn; Stanbic IBTC, N13bn; and others, even as the Committee gave Zenith Bank a clean bill of health.

Committee chairman, Sen. Hope Uzodinma, noted that following its investigations, the Committee found that only Zenith Bank had complied with 100 percent remittance.

The Senate Committee on Customs, Excise and Tariff, which recently completed a successful work on the review of Customs Act, gave the matching order to the apex bank at an investigative meeting with the CBN, Ministry of Finance, Federal Inland Revenue Service (FIRS), Corporate Affairs Commission (CAC), commercial banks and other stakeholders.

Sen. Uzodinma, threatened that the senate would involve the Economic and Financial Crimes Commission (EFCC) should the CBN fail to recover the money within the given time.
The committee had established during the hearing that of the over N30 trillion being investigated by the committee, over N536 billion was terminated at the various banks but not remitted to CBN.

The Senator representing Orlu Zone of Imo State averred that “There are various infractions regarding import and export duties and we have carried out detailed investigation into the matter. Today, we will address the non-remittance of revenue collected on behalf of Customs.

He made it clear that “The only bank that is free of this infraction is Zenith Bank,” stressing that “We must recover what we are able to and moving forward, we must stop this infraction that is affecting our economy negatively”.

However, the Committee gave the banks two weeks to clarify the observed infractions relating to utilised and unutilised ‘Form M’ and Simple Goods Declaration (SGD), and others, including abandoned assessment of Customs Duties and foreign exchange allocation manipulation

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Ajimobi’s Eldest Child, Bisola Dies In The UK

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Late Governor Ajimobi’s first child, Bisola is dead!

 

News filtered in early Thursday, March 27, 2025 that Bisola,42 died after a brief illness in the United Kingdom.

 

The late woman before her death was the special adviser to the Minister of Budget and Planning, Atiku Bagudu.

 

Married to Kolapo Kola-Daisi, their marriage is blessed with three children.

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EFCC Arrests Top Businesswoman, Aisha Achimugu

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The Economic and Financial Crimes Commission (EFCC) recently arrested prominent businesswoman and socialite, Aisha Achimugu, following allegations of fraudulent activities related to a multi-million-naira contract awarded to her company by a South-West state.

Achimugu, who serves as the Chairman of Bluewave Exploration and Production Limited, was detained last weekend after a civil society group filed a petition accusing her of involvement in dubious dealings concerning the contract. She was granted bail the following day but has been instructed to return for further questioning in the coming week.

Beyond her corporate endeavors, Achimugu is well-known in elite circles across Lagos and Abuja. Her social media presence showcases a lavish lifestyle, featuring exotic vacations, exclusive yacht parties, and private jet travels.

This arrest marks a significant challenge for Achimugu, whose business empire and social standing are now under intense public scrutiny. The EFCC’s investigation is ongoing, and the outcome may have far-reaching implications for her career and reputation.

A source hinted that Achimugu was asked by the commission to report back on the 30th of March,2025 for further questioning.

Not really bothered by the investigation, the billionaire days after her arrest launched a 30-day feeding Ramadan programme where she targets the less-privileged.

 

Additional Information- Streetjournal Magazine

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Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

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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.

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