EFCC Arraigns Lawyer For Stealing N188.7m
ATom Awhana, the former Head of Chambers of the Law Office of Mogbeyi Sagay, was arraigned before a Lagos Special Offences Court, Ikeja over allegedly stealing N188.7million belonging to the law firm of the late senior lawyer.
He was arraigned alongside a former lawyer in the chambers of Mogbeyi Sagay and Co, Paul Okoro by the Economic and Financial Crimes Commission (EFCC) of stealing N3.6million from the firm. They were arraigned on 16 count charges bordering on conspiracy to steal, stealing and the duo pleaded not guilty to all before Justice Mojisola Dada.
EFCC alleged that Awhana was the Head of Chambers of the law firm of Mogbeyi Sagay and Co from 2010 to 2018 and Sagay his Principal, died in 2012 but was made signatory to the law firm’s Zenith Bank Account alongside three administrators of the late SAN’S estate. EFCC also alleged that out of four administrators, three persons could withdraw from the bank account in
Awhana’s possession. They added that unknown to the staff, other administrators and consultant to the law firm; Awhana opened other secret bank accounts in the name of Mogbeyi Sagay and Co in FCMB, Union and Heritage Banks. EFCC further alleged that Awhana diverted cheques into those secret accounts from 2012 to 2017 and stole a total of N188.7million while Okoro is alleged to have from October 14, 2012 to June 28 2013, stolen N3.6million belonging to the firm.
Following their plea of not guilty, EFCC counsel, Rotimi Oyedepo prayed the court for a trial date and urged it to impose stiff bail conditions on the lawyers. However, counsel to Awhana, Oluwaseun Olusiyi prayed the court to grant bail to her client. She said the bail application was dated May 17,2019. Also, second defendant counsel, K. U Ani, told court that his bail application dated May 17 also asked the court to grant him bail on self-recognisance.
Justice Dada therefore ruled that since settlement was ongoing between the complainant and the defendants, she ordered them (Awhana and Okoro) to sub
MTN Secures Fresh 200b Loan, Targets Capex Expansion Of 4G Services, Others ed as co-ordinator and Quantum Zenith as Facility Agent.
Speaking at the signing, CEO, MTN Nigeria, Ferdi Moolman, expressed enthusiasm at the completion of the agreement, saying it signposts the firm’s commitment to and confidence in Nigeria, and the strength of the strategic collaboration between MTN Nigeria and local financial institutions, that will help deepen and broaden the provision of ICT services in Nigeria. Moolman lauded the participatingfinancialinstitutions for staying committed to them, stressing that the loan syndication showcases the strength of the Nigerian financial institutions and their confidence in MTN’S vision, as well as both parties joint ability to stimulatesignificanteconomic growth.
MTN Nigeria Chairman, Pascal Dozie, described the development as a milestone and the firm was committed to ensure improved services.
Bhours after it listed 20.4 billion ordinary shares at N90 on the Nigerian Stock Exchange (NSE), MTN has secured fresh loan of 200 billion from seven Nigerian financial institutions. This loan is coming barely a year after MTN was also granted
200 billion loan by the banks.
The new agreement was formally signed at a ceremony at the law offices of Aluko & Oyebode in Ikoyi, Lagos, yesterday.
Chief Executive Officers and some representatives of the issuing institutions including Zenith, GT, UBA, Access, FCMB, First and Fidelity banks were on ground to sign the deal. The facility is structured with a two-year moratorium and a repayment plan of seven years and is denominated in Naira. This is the eighth syndicated loan agreement by MTN in Nigeria since its inception 18 years ago. Citibank act
mit their international passports to the court and adjourned to June 4, 2019.