MAN BAGS EIGHT YEARS IMPRISONMENT FOR N132M MONEY LAUNDERING IN LAGOS . (PHOTO). #PRESS RELEASE

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 Man Bags  Eight Years Imprisonment for N132m Money Laundering in Lagos  The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of Onatayo Pelumi for money laundering involving funds totalling about ₦132 million. Pelumi was convicted by Justice Osiagor of the Federal High Court, Lagos, on five counts bordering on the retention of proceeds of unlawful activities in bank accounts domiciled with Guaranty Trust Bank (GTBank) and Zenith Bank. The charges alleged that the convict retained various sums of money in the accounts between January 2023 and June 2026, knowing that the funds formed part of the proceeds of unlawful activities. The court sentenced him to three years’ imprisonment, with an option of a ₦300,000 fine, on count One. On counts two, three, four and five, he was sentenced to five years’ imprisonment on each count, with an option of a ₦300,000 fine on each count. The terms of imprisonment are to run concur...

FG PROBES 107 UNIVERSITIES OVER FAKE DEGREES. (PHOTO).


 FG probes 107 varsities over fake degrees


The Federal Government has invited memoranda from the public as it begins the probe of private universities established in the last 15 years.


The Federal Government initiated the probe following an investigative report by Daily Nigerian journalist, Umar Audu, uncovering certificate racketeering in neighbouring Benin Republic and Togo.


Checks reveal that no fewer than 107 private universities were established in the last 15 years.


The Inter-Ministerial Investigative Committee on Degree Certificate Milling set up by the Federal Government would be examining “whether or not private universities established in the last 15 years have in place prescribed facilities, appropriate management structure, adequate funding of programmes, requisite state, and nature of the staff – full-time, contract, adjunct, visiting and other types.”


The committee, in an advertorial published in The PUNCH of Tuesday, noted that the probe was “without prejudice to the periodic accreditation exercise of the National Universities Commission.”


“Memoranda from the general public are, therefore, solicited to provide information to the committee to help it make appropriate recommendations to address the menace in line with its terms of reference,” the committee said.


In his investigative report published late last year, Daily Nigerian journalist Audu had narrated how he obtained a degree within six weeks from Benin Republic and even proceeded to embark on the mandatory youth service under the National Youth Service Corps scheme in the country.


Reacting, the Federal Government, on January 9, 2024, said it would launch an investigation into private universities established in the last 15 years.


The Minister of Education, Prof. Tahir Mamman, made this known in Abuja while inaugurating the Inter-Ministerial Committee on fake degrees and activities of degree mills in the country.


The Committee Chairman, Jibrila Amin, noted that the inter-ministerial committee would “Review the role of any MDA or its officials (including identifying such officials) in the facilitation of the recognition and procurement of the fake certificate in question.”


The committee will also”examine the rules, procedures and processes for recognition and accreditation of foreign universities and programmes by the Federal Ministry of Education; Establish if unapproved foreign institutions (Degree Mills) exist or not in Nigeria in whatever form with their identities and locations if any.”


It is expected to “make appropriate recommendations for review of any rules, procedures, and processes to prevent re-occurrence and sanctions for identified erring officials.


“Make other recommendations that will strengthen the system of recognition, accreditations and quality assurance of degrees in Nigeria and examine the extant rules, procedures and processes for granting provisional licenses to new universities by the National Universities Commission.”

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