ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.

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 APC PRESIDENTIAL CAMPAIGN COUNCIL PRESS STATEMENT ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL At his press conference in Abuja on Friday, Alhaji Atiku Abubakar reiterated his proposed  “production subsidy” for locally refined petrol, which he said would reduce pump prices. He went further to ask President Bola Tinubu to slash the cost of diesel and petrol at the pump. That proposal raises important legal, fiscal and practical questions that he must answer. Section 205(1) of the Petroleum Industry Act 2021 provides that unrestricted free-market conditions shall determine wholesale and retail prices of petroleum products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, in a statement on Saturday, explained that it neither fixes pump prices nor issues administrative price templates, except where the statutory conditions for intervention are met. The PIA provisions guide its function.  At the moment, “No such market fail...
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LAGOS COURT JAILS MAN EIGHT YEARS FOR N62M LAND FRAUD. (PHOTO). #PRESS RELEASE.

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 Lagos Court Jails Man Eight Years For N62m Land Fraud


Justice I.O. Ijelu of the Lagos State High Court sitting in Ikeja, on Wednesday, October 2, 2024, convicted and  sentenced one Abodurin Gerald Abozo to eight years imprisonment for land fraud.


Abozo was arraigned on October 15, 2023 on a two-count charge bordering on obtaining money by false pretence, contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006; and stealing, contrary to Section 287 of the Criminal Law of Lagos State 2015.


Count one reads: “Abodurin Gerald Abozos (doing business in the name and style of S.G.B. & As Property Lines Company), sometime in 2013 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of N62,000,000.00 (Sixty-two Million Naira) from Engineer Samuel Segher, under the false pretext, that you have two plots of land for sale at Chevy Estate Ojomu Chieftaincy Family land, Lagos, and the said amount represented the purchase price, a representation you knew to be false.”


Count two reads: “Abodurin Gerald Abozos, (doing business in the name and style of S.G.B. & A Property Lines Company), sometime in 2013 at lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the aggregate sum of N62,000, 000.00 (Sixty-two Million Naira), property of Engineer Samuel Segher".


He pleaded “not guilty” to the charges when they were read to him, thereby leading to his full trial.


In the course of trial,  prosecution counsel, M. S. Owede, called two witnesses and tendered several documents, including the extra-judicial statement of the convict, which were all admitted in evidence by the court.


Delivering judgment, Justice Ijelu sentenced the defendant to seven years imprisonment on count one and one year on count two, without an option of fine.


The convict was ordered to make restitution of the sum of N62m to the victim.


Abozo’s journey to the Correctional Centre began when he was arrested for obtaining the sum of N62million from Engineer Samuel Segher in the guise of selling two plots of land to him. He neither delivered the land nor returned his money to him.

 

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