CBN DEBUNKS FAKE NEWS ON NEW N5,000 AND N10,000 BANKNOTES.(PHOTO).

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  The Central Bank of Nigeria (CBN) has dismissed a viral claim circulating on social media about the introduction of new ₦5,000 and ₦10,000 banknotes, labeling it as fake news. The claim, which included fabricated images of the supposed new denominations featuring Dr. Nnamdi Azikiwe and Chief Obafemi Awolowo, falsely stated that the new notes would enter circulation from May 1, 2025. In a statement on its verified Facebook account, the CBN clarified that the content is not from the bank and directed the public to its official website, (www.cbn.gov.ng), for authentic information. The bank warned against spreading misinformation regarding monetary policies and urged Nigerians to rely only on official statements from its verified channels. The CBN reaffirmed that any major policy decision, including the introduction of new banknotes, would be announced through its official platforms. The public is advised to remain cautious and verify financial information from credible sources befor...

MONEY LAUNDERING: COURT ADJOURNS MOMPHA'S TRIAL TILL DEC 19.(PHOTO).#PRESS RELEASE


Money Laundering: Court Adjourns Mompha’s Trial Till Dec 19

Justice Mojisola Dada of the Special Offences Court Sitting in Ikeja, Lagos, on Wednesday, November 1, 2023, adjourned till December 19, 2023 further hearing in the alleged N6bn fraud trial involving Ismaila Mustapha, also known as Mompha(now at large).

 Mompha alongside his company, Ismalob Global Investment Limited, was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on January 12, 2022 on eight-count charges bordering on conspiracy to launder funds obtained through unlawful activity; retention of proceeds of criminal conduct; laundering of funds obtained through unlawful activity; failure to disclose assets and property; possession of documents containing false pretence and use of property derived from unlawful act.

One of the counts reads: "Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 ( Five Billion Nine Hundred and Ninety-eight Million Eight Hundred and Eighty-four Thousand Six Hundred and Fifty-three Naira Eighteen Kobo), with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence."

At the last proceedings on Monday, September 18, 2023, the EFCC, through its third prosecution witness, PW3, Ayorinde Solademi, a staff of the Federal Bureau of Investigation, FBI, Office of Legal Attache, US Consulate, Lagos, had tendered a report by the USA-based FBI, as well as an investigative report on Mompha's iPhone, which the agency claimed was used for fraudulent practices.

The defence counsel, Kolawole Salami had raised an objection to the admissibility of the two documents, arguing that they were public documents that were needed to be certified by the United States Consulate.
"The documents are not a certified true copy, and should not be admitted in court," he had said.

The objection was, however, overruled by the court.

Justice Dada upheld the submission of the prosecution that the documents were in their original state, stressing that, "the documents do not require certification".

Under cross-examination, the witness had told the court that the FBI's forensic operations revealed that Mompha's iPhone was used to send account details to a United Arab Emirates telephone number; used to search for Swift Codes of a bank, and also had a compromised Microsoft 365 account.
He further told the court that Mompha's iPhone, during analysis, was found to have also been used to change payment delivery from cheque to wire transfer, after a third attempt.

He said: "The iPhone was used to make three attempts to transfer funds.
"The first two failed, but the third was successful."

The Judge had, thereafter, adjourned till November 1, 2023 (today) for continuation of trial.

At Wednesday’s proceedings, counsel for the EFCC, Bilikisu Buhari, informed the court that the prosecution's next witness was not in the country.

Consequently, Justice Dada adjourned the case till Tuesday, December 19, 2023 for continuation of trial.
 

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