FRAUDSTERS' PARADISE! Jim Ovia's Zenith Bank Exposed in Multi-Million Naira Scandal
How Femi Otedola uncovers zenith bank's dirty secrets! Jim Ovia begs for mercy
+ Ex-CBN Governor's Ties to Zenith Bank Scandal Raise Eyebrows

In a shocking turn of events, Zenith Bank, one of Nigeria's largest financial institutions, has been embroiled in a fraud scandal, with its Chairman, Jim Ovia, admitting to fraudulent transactions and begging billionaire oil tycoon, Femi Otedola, out of court.
According to sources, Otedola had alleged that Zenith Bank was involved in fraudulent activities, which the bank had initially denied. However, in a surprising move, Jim Ovia has now admitted to the wrongdoing, begging Otedola to settle the matter out of court.
This development raises serious questions about the bank's integrity and the role of its leadership in perpetuating fraud. The Central Bank of Nigeria (CBN), led by Governor Godwin Emefiele, also faces scrutiny for its oversight of the banking sector.
Emefiele's connection to the scandal is unclear, but his relationship with Jim Ovia and Zenith Bank has raised eyebrows. As CBN governor, Emefiele has been accused of favoring certain banks and individuals, including Ovia and Zenith Bank.
The allegations against Zenith Bank are grave and warrant a thorough investigation. The bank's admission of wrongdoing has sparked concerns about the safety of customers' funds and the bank's ability to operate honestly.
The CBN must take immediate action to investigate this matter and ensure that those responsible are held accountable. The public deserves transparency and assurance that their hard-earned money is safe in the banking system.
As the investigation unfolds, one thing is clear: Zenith Bank's reputation has been severely damaged, and its leadership must be held accountable for their actions. The people demand justice and transparency in the banking sector.
The Zenith Bank fraud scandal is a stark reminder of the need for vigilance and accountability in the banking sector. The CBN must act swiftly to restore public trust and ensure that those responsible face the full weight of the law.  

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Halimat Tejuosho Who Was Accused of Spending Contract Funds on Exotic Cars tipped to Replace Betta Edu

March 7, 2024 #Betta Edu#Contract Funds on Exotic Cars#Halimat Tejuosho#people with disabilities (PWDs)#President Bola Ahmed Tinubu
Some groups of people with disabilities (PWDs) have floated a platform to lobby for the allegedly fraudulent Halimat Tejuosho to replace Betta Edu as minister of humanitarian affairs and poverty alleviation.

Since the beginning of the year, various PWDs have turned regular protesters in some states, including Kano and Abuja, all in a bid to lubricate the way for Tejuosho to occupy the vacant ministerial position.

“We are demanding that Mr. President listen to us. This time, we are begging for him to recommend and appoint a mother who cares for persons with disabilities. She is a humanitarian person by birth,” a PWD said in a video ViableTV uploaded on March 6. “We want her in that position. We are pleading that you give us a chance by recommending our mother, Ambassador (Doctor) Halimat Adenike Tejuosho. She is the most qualified for that position. Anything trusted in her will be delivered.”

Back in January, the national leadership of the PWDs in Nigeria led a protest in Abuja where Muhammed Dantani, its national secretary, drummed support for Tejuosho to replace Edu, who was suspended in January over a financial scandal.

TEJUOSHO’S ALEGED CONTRACT SCAM
In December 2022, Justice A.S. Adepoju of the Gwagwalada division of the Federal Capital Territory High Court ordered the service of court briefs in suit number FCT/HC/CV/589/2022 on Tejuosho and her company, Haleems Nigeria Limited.

Several news reports stated that the Ministry of Niger Delta Affairs gave a project to construct 500 housing units to Tejuosho’s company. She got the buy-in of Emmanuel Suku to provide funds for the project’s execution. Suku then provided a total of N436,325,000 and another $21,500 to power the construction.

Shortly after receiving the initial funding, Suku claimed in court papers, Tejusoho stopped responding to his phone calls. His personal investigation showed that Tejuosho did not do any work at the site.

Upon police’s involvement, it was found that she had lavished the money on buying exotic vehicles worth over N150 million, including a white Mercedes Benz GLE 450 SUV, 2018 model Range Rover Sport, Toyota Prado SUV and a Toyota Hilux truck.

In his application before the court, Suku said, “The detailed investigation report had established a case of advance fee fraud, criminal diversion of funds, criminal breach of trust and cheating against Tejuosho and recommended her for prosecution.”

Tejuosho had, however, denied the allegation, according to Mediatracnet, an online news website.

“Everybody that knows me know I love good cars. I have Porshe, Bentley and all, because I work so hard,” she was quoted as saying. “We have to get to a certain milestone before we start settlement. I told him before we can achieve that milestone, we were going to spend about N500 million. Before he came into the project, I has already invested a lot.”

“The groundbreaking was done on the 500 units of land I purchased by myself for the project (250 hectares each for Phases 1 and 2). We had erected the gatehouse before he came into the picture. I said I had N200 million, and he said he can bring N300 million.

“We entered into an agreement for four years, starting from November 2021 to November 2024. The agreement did not state I will be doing a refund for him. He is an investor. The agreement said we were going to share profits after four years in the ratio of 70:30. My company takes 70 percent and he takes 30 percent.

“He knows my house. He knows I know a lot of people. I facilitated a lot of awards from him. We even went to Dubai together in May 2022, where I was invited for a Model United Nations event and I put his name be one of the guest speakers.”

She attributed the eventual termination of the contract to Suku. She also accused him of using the police to harass her.

The EDE Prize for Language, an Indigenous Language Spelling Bee, debuts

The EDE Prize for Language, the first-of-its-kind indigenous language spelling bee, aims to celebrate and preserve the Yoruba language, which has been launched.

The inaugural indigenous Spelling Bee, which will encourage literacy and academic excellence among students in Lagos and Ogun states, is to also foster a stronger sense of cultural heritage and linguistic diversity.

Bobo Omotayo, the EDE Prize’s creator, said the groundbreaking initiative is in collaboration with Teammasters, a reputable organization that organizes nationwide spelling bees.

“The EDE Prize for Language represents our commitment to promoting indigenous literacy and preserving cultural heritage,” said Omotayo.
He added, “Through our partnership with Teammasters, the Prize’s goal for this event is to inspire the next generation to be proud of their language and culture. We hope to empower young people by giving them a platform to demonstrate their language skills and celebrate the diversity of indigenous cultures.
For the first edition, students from Lagos and Ogun states are eligible to compete for the prize. We invite schools from both states to participate in this culturally rich educational experience. Participation in the spelling bee is free

Speaking on the initiative, Rotimi Eyitayo, Teammasters National Spelling Bee’s founder, said the EDE Prize for Language is not just a competition but a celebIndigenous languages and traditions.

He explained that the EDE Prize for Language will feature several rounds of competition, culminating in a grand finale in which finalists will compete for prestigious awards and recognition.

The competition is divided into two categories: (i) Lower Category for children aged 8 to 11, and (ii) Higher Category for students aged 13 to 17.

Former Scotland Yard Crime Chief Begins Investigation Into Alleged Fraudulent Implementation of Nigeria's Crude Oil Tracking Note Scheme

The questionable contract award of Cargo and Crude Oil Tracking Note Scheme to a Belgian firm, Antaser BV by the Federal Government of Nigeria has now become a subject of international investigation, which may burst a can of worms and expose top Nigerian public and private officials involved in the perennial scotch of oil theft, which denies the country over eighty percent of its oil revenue.

Donnington Nigeria Ltd and its technical partner Vortexa UK,the companies that were allegedly shortchanged in the wrongful award, had been at legal loggerheads with the Government of Nigeria, as well as Antaser Belgium and Antaser Nig Ltd, Velocity Logistics and Maritime Services, Winslow Logistics, Equal Logistics and Saham Crystal Investment Nig Ltd and individuals, the purported beneficiaries of the project to implement the Advanced Cargo Declaration/Cargo Tracking Note Scheme.

Donnington, which alleges wrongdoing and breach of extant laws in the contract award, has engaged the services of a former Assistant Commissioner of London's Metropolitan Police, Tarique Ghaffur, CBE, QPM, to dig into the fraudulent contract award, in breach of relevant provision of the Public Procurement Act.

This was disclosed in a press statement on Tuesday by the Managing Director of the company, Mohammed Sani, who stated, “We have some compelling information which leads us to suspect that wrongdoing within the high levels of the Nigerian Federal government, its ministries and agencies, has taken place. Accordingly, we have engaged Tarique Ghaffur, CBE, QPM, a former Assistant Commissioner of London’s Metropolitan Police, and his team of public corruption and economic crime experts, to investigate such wrongdoing, which appears to have its foundations in the continuation of thefts of crude oil.”

It is widely believed by a cross-section of Nigerians that government officials and top brass of the military are complicit in the crude oil theft. Donnington alleges that the award to Antaser Bv Belgium and the other "bubble companies" is because those in government are looking for a smokescreen for their allies in the organized crime of oil theft.

According to documents seen, as of January 2024, the Nigerian Government had unilaterally appointed six other companies to implement the Cargo Tracking Scheme, instead of Donnington Nigeria Ltd, which had complied with all the requirements, including gaining Presidential approval on 4th May 2021, for the re-introduction of the scheme. The company had also secured other relevant approvals from the various ministries and agencies.

Mr Ghaffur, who has successfully led many high-profile international investigations, both whilst with the police as head of Scotland Yard’s Specialist Crime Directorate, and as the head of an international security consultancy, has already commenced his pre-investigation review, he was quoted as saying in the statement:

“My team and I shall explore all legal means to robustly gather evidence to prove criminal intentions and related acts”.

“We know from our previous work that criminals permeate the highest levels of many governments, and their ultimate victims are the citizens they are supposed to serve”.

“Organized crime takes many forms, and it is in this case our mission to expose such criminality wherever we find it, and Nigeria is no exception,” Mr Ghaffur was quoted to have said.

Mr. Sani added that the investigation will be far reaching and extend both domestically and internationally, to jurisdictions such as the United Kingdom of Great Britain and the United States of America, including known repositories for criminal assets and laundered money.

Meanwhile, certified documents obtained from the Corporate Affairs Commission in Nigeria, show that appointees of former President Muhammadu Buhari’s Government may have used proxy companies to hijack the Cargo Tracking Scheme Contract, which triggered the legal tussle between Donnington Ltd and the Government of Nigeria.

Intriguing, is the fact that they secured the contract, worth billions of Naira, without due diligence, as investigations reveal that four out of the five companies used were not registered with the Special Control Unit Against Money Laundering, SCUML of the Economic and Financial Crimes Commission EFCC, which tends to suggest that the government officials involved unduly influenced the Bureau of Public Procurement BPP, whose duty it is to carry out due diligence.

Only Velocity Nigeria Ltd was duly registered, according to checks. The four others companies, which were not endorsed by SCUML, as required, are Antasar Nigeria Ltd, Equal Logistics Ltd, Winslow Logistics Ltd and Sahams Crystal Investment Ltd. This was confirmed by the Economic and Financial Crimes Commission in a letter to solicitors of Donnington Nigeria Ltd, which was dated 30th March 2023. It was in response to their inquiry after they had gone to court to challenge the sham award of the said CTN Contract.

This aside, Antaser BV Belgium and Antaser Nig Ltd were both indicted along side Transport and Port Management System Ltd(TPMS) by the EFCC in 2011 in case involving financial crime

Former President Olusegun Obasanjo recently said that one of the reasons why Nigeria’s economy is in ruins is that while other oil-producing countries have records of their oil production, Nigeria cannot account for hers due to theft. And this investigation by ex-Scotland Yard's crime chief would be welcomed by commonplace Nigerians, who are currently lumbering through a historic hardship, amid soaring prices and high cost of living.

Nonetheless, this inquest would sling more mud on Nigeria's already battered image. A country once described by former British Prime Minister David Cameron as “fantastically corrupt.“

A source at Donnington Ltd revealed that Kroll Associates UK, a financial investigation company, was also engaged to investigate and expose the Beneficial Owners of the six companies favored by the Nigerian government - using money trail to link the real owners and it was based on their preliminary report that a criminal investigation became necessary.

The Office of the Secretary to the Nigerian Government had yet to respond to this embarrassing development, as at the time of filing this report. Calls and messages sent to that office had not been answered.

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