GOV. SANWO-OLU SIGNS 2025 APPROPRIATION BILL. (PHOTOS). #PRESS RELEASE.

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 SANWO-OLU SIGNS 2025 APPROPRIATION BILL •Says N3.366trn budget will build on past gains, scale up impact for future •Lagos Internal Revenue Service has crossed N1 trillion in IGR — Assembly   Lagos State Governor, Mr. Babajide Sanwo-Olu, on Thursday signed the 2025 Appropriation Bill tagged "Budget of Sustainability." Governor Sanwo-Olu signed the budget, which is N3.366 trillion, at the Lagos House, Ikeja, during a ceremony attended by his deputy, Dr. Obafemi Hazmat; Secretary to the Lagos State Government (SSG), Barr (Mrs.) Bimbola Salu-Hudeyin; members of the Lagos State House of Assembly, led by the Chairman of the Joint Committee on Appropriation and Finance, Hon. Sa’ad Olumoh; and members of the State Executive Council, among others. Speaking after signing of the 2025 Appropriation Bill, Governor Sanwo-Olu said the budget was structured around five key pillars, which are Infrastructure Sustainability; Economic Diversification; Social Inclusion and Human Capital Develop...
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UPDATE: COURT DISMISSES EMEFIELE'S APPLICATION TO HALT $4.5BN, N2. 8BN FRAUD TRIAL. (PHOTO).

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 Court Dismisses Emefiele’s Application to Halt $4.5bn, N2.8bn Fraud Trial


The Lagos State Special Offences Court has rejected an application by former Central Bank of Nigeria (CBN) Governor Godwin Emefiele to dismiss fraud charges of $4.5bn and N2.8bn brought against him by the Economic and Financial Crimes Commission (EFCC).


In his ruling, Justice Rahman Oshodi affirmed the court's jurisdiction to try Emefiele and his co-defendant, Henry Omoile, dismissing objections related to counts eight to 26. However, four of the 26 charges were struck out due to jurisdictional limitations.


Justice Oshodi clarified:

“Allocation of foreign exchange without reason is not defined as an offence under any written law.”

“The objection to counts one to four succeeds and is hereby struck out.”

“The prosecution has established sufficient territorial nexus in this case.”


The EFCC’s charges against Emefiele include abuse of office and illegal allocation of funds. The trial has been adjourned to February 24 and 26, 2025, for continuation.


Emefiele’s legal team, led by Olalekan Ojo (SAN), argued that the court lacked jurisdiction as the alleged offences fell outside Lagos State’s territorial reach. Ojo also contended that the charges violated the Nigerian constitution and were not recognized under Nigerian law.


EFCC counsel Rotimi Oyedepo (SAN) countered that the court had the authority to hear the case, citing substantial evidence supporting Lagos as the appropriate venue for the trial.


The ruling marks a critical development in the high-profile fraud case involving the former CBN governor.

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