x

Breaking: Court finds Olisa Metuh guilty of laundering N400m

The Federal High Court in Abuja has convicted the former National Publicity Secretary of the Peoples Democratic Party, PDP, Chief Olisa Metuh, on the money laundering charge the Economic and Financial Crimes Commission, EFCC, preferred against him. Trial justice Okon Abang also found Metuh’s firm, Destra Investment Ltd, guilty of illegally receiving N400million from the Office of the National Security Adviser, ONSA, prior to the 2015 presidential election, without contract approval or execution. “I find the defendants guilty in respect of count 1 of the charge and they are accordingly convicted”, Justice Abang held. Justice Abang is still reviewing submissions of all the parties with respect to the remaining six counts of the charge.

EFCC had in a seven-count charge it entered before the court, alleged that the N400m was electronically wired from an account that ONSA operated with the Central Bank of Nigeria, CBN, to Metuh, via account no. 0040437573, which his firm operated with Diamond Bank Plc. It told the court that the fund which was released to Metuh and his firm by detained former NSA, Col. Sambo Dasuki, retd,‎ ‎was part of about $2.1billion earmarked for the purchase of arms to fight insurgency in the North East. Besides, the prosecution alleged that Metuh was involved in an illicit transaction that involved the exchange of $2million, in violation of extant financial regulations.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

NTDA, ITPN Move To Professionalize Tourism Sector

By Joyce Remi-Babayeju The Nigerian Tourism Development Authority (NTDA), and...

Civil War Was Fought for Unity, Not Hatred — Gowon

Former Head of State, General Yakubu Gowon (rtd), has...

Ballon d’Or Should Go to Champions League Winner – Cristiano Ronaldo

Five-time Ballon d’Or winner Cristiano Ronaldo has weighed in...

Arokodare Scores as Super Eagles Hold Russia to 1-1 Draw

Tolu Arokodare opened his Super Eagles goal account as...

Strong Capital Market Key to Nigeria’s Economic Future – NGX Chairman

Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru...

Veteran Highlife Legend Mike Ejeagha Dies at 95

Renowned highlife musician and folklorist Mike Ejeagha, famed for...

Eid-el-Kabir: Northern CAN Greets Muslims, Urges Govt Action on Security

By Achadu Gabriel, Kaduna The Christian Association of Nigeria (CAN),...
spot_img

Related Articles

Popular Categories

spot_imgspot_img