GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...

EFCC ARRAIGNS FATHER-IN-LAW, DAUGHTER-IN-LAW FOR ALLEGED FORGERY IN LAGOS. (PHOTO). #PRESS RELEASE.


 EFCC Arraigns Father-in-Law, Daughter-in-Law for Alleged Forgery in Lagos


The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, April 15, 2024, arraigned a father-in-law,  Alaba Alakija and his daughter-in-law, Oyinkansola Alakija before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on an amended two-count charge bordering on alleged conspiracy and using false documents.


One of the counts reads: “Alaba Alakija and Oyinkansola Alakija, on or about the 6th day of August, 2015 at Lagos, within the jurisdiction of this Honourable Court, with intent to financially benefit from the property located at No.10, Keffi Street, South-west, Ikoyi, Lagos, conspired amongst yourselves to use a false document titled: "Vesting Deed by Dr. Omodele Alakija and Mr. Afolabi Alakija", the executors of the estate of the late Sir Ademola Alakija, purporting  same to be made by Dr. Omodele Alakija and Mr. Afolabi Alakija.”


The defendants pleaded “not guilty” to the charges when they were to them.


In view of their pleas,  prosecution counsel ,M. S. Owede prayed the court for a trial date and the remand of the defendants at a correctional facility.


Counsel to the first defendant, M.O. Akangbe, SAN, informed the court of the bail application of his client, which he said he had filed and served on the prosecution. While praying to move the application, he  urged the court to grant bail to his client in the most liberal terms.


However, counsel to the second defendant, Victor Giwa, prayed the court to move the bail application of his client orally. He told the court that he was informed about the matter late and that he came from outside the jurisdiction of the court.


Giwa further stated that his client, whom he described as a lawyer, has a two month-old baby, whom she still breastfeeds, and that she would not jump bail. However, in a dramatic twist, the second defendant’s husband debunked the claim and told the court that their baby is nine months old.


After listening to both parties,  Justice Dada granted bail to the first defendant in the sum of N10 million, with sureties in like sum, who must submit their international passports to the court.


The court, however, took possession of the passport of the second defendant.


Both defendants were released to their lawyers pending perfection of their bail conditions.


The judge adjourned the matter  to May 28, 2024 for commencement of trial.


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