TROOPS NEUTRALIZE 6 TERRORISTS, RESCUE 48 HOSTAGES , RECOVER ARMOURED VEHICLE, ARMS IN BORNO, ZAMFARA. (PHOTOS). #PRESS RELEASE.

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 TROOPS NEUTRALIZE 6 TERRORISTS, RESCUE 48 HOSTAGES , RECOVER ARMOURED VEHICLE, ARMS IN BORNO, ZAMFARA In a significant blow to terrorists in the North East and North West , valiant troops of the Nigerian Army engaged in Counter-terrorism operations have successfully exterminated 6 Boko Haram/ISWAP terrorists and rescued 48 hostages. The troops had the encounter with the terrorists during a fighting patrol in the Fulatari and Kago villages of Gwoza Local Government Area of Borno State. The encounter led to a fierce exchange of fire, after which the overwhelmed terrorists fled the scene, abandoning their hostages . The quick action of the troops resulted in the liberation of the hostages, including one adult male, 20 adult females, and 27 children. Additionally, the troops recovered a Phantom Armoured Personnel Carrier (APC) a 60mm mortar tube, a bandolier, three AK-47 rifle magazines, five rounds of 7.62mm x 51mm ammunition and a bicycle. In a separate coordinated effort, troops, along
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HOW MULTI-CHOICE NIGERIA WAS DEFRAUDED OF N7. 9B.(PHOTO).

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How Multichoice Nigeria was defrauded of N7.9 billion


Multichoice Nigeria Limited, a company offering satellite television services across Africa, fell victim to a fraudulent foreign currency exchange transaction, resulting in a loss of N7.9 billion.


The failed foreign currency exchange deal implicated Akintunde Giwa, who works as a currency exchange broker; JNFX Limited, a company specializing in currency exchange services; Ashay Mervyn, a representative of JNFX; and Frontier Financial Technologies Limited.


Mr. Giwa is a currency exchange broker who helps individuals exchange Nigerian Naira for US dollars, earning a commission for his services. According to court documents, Mr. Mervyn is a director at Frontier Financial Technologies Limited, a Nigerian company.


The matter came before Stuart Isaacs, serving in the capacity of Deputy Judge at the High Court in the Business and Property Courts of England and Wales. The ruling was transmitted digitally to the legal representatives of the parties and subsequently filed at the National Archives on 2 April.


According to court records, Multichoice Nigeria Limited transferred N7.9 billion to Mr. Giwa, a currency exchange broker. Mr. Giwa then passed the funds to JNFX Limited, a currency exchange firm, as part of the MultiChoice contracts. The records reveal that the Naira payments were first deposited into accounts held by Mr. Giwa’s companies, before being transferred to accounts specified by JNFX via Mr. Mervyn in exchange for dollars. These dollars were then supposed to be deposited into an account at Standard Chartered Bank in London under the name of MultiChoice Africa, a separate entity within the MultiChoice group of companies.


Nevertheless, the company did not receive any payments in dollars, totaling $16.2 million, as disclosed by Mr. Giwa.


Credit: Premium Times

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