SENATE APPROVES ₦403.1BN POLICE TRUST FUND BUDGETS FOR 2025, 2026.(PHOTO).

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 SENATE APPROVES ₦403.1BN POLICE TRUST FUND BUDGETS FOR 2025, 2026 The Senate has approved a total of ₦403.1 billion for the Nigeria Police Trust Fund for the 2025 and 2026 fiscal years, to strengthen policing and tackle terrorism, kidnapping, and other security threats. The approved funding includes ₦170.1 billion for 2025 and ₦233 billion for 2026, covering personnel costs, capital projects, and overhead expenses aimed at improving the operational capacity of the Nigeria Police Force. Lawmakers say the funds will support the provision of critical equipment, infrastructure, training, and other resources needed to enhance security across the country. Meanwhile, President Bola Tinubu has sent a bill to the Senate seeking to repeal and reenact the Administration of Criminal Justice Act.  The proposed legislation aims to speed up the delivery of justice, promote the use of technology in criminal proceedings, and establish a Criminal Justice Monitoring Council to oversee implement...
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LAGOS COURT JAILS MAN ONE YEAR FOR N37M FOREX FRAUD . (PHOTO). #PRESS RELEASE

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 Lagos Court Jails Man One Year for N37m Forex Fraud 

 

Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, on Monday, February 16, 2023, convicted and sentenced one Henry Daniel to one year imprisonment for N37m foreign exchange fraud.

 

The convict was arraigned by the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 1, Ikoyi, on a two-count charge bordering on obtaining money by false pretence and stealing.

 

Count one reads: “That you, Daniel Henry (trading under the name and style of Equigro Financial Services), sometime between January and October 2020, in Lagos within the jurisdiction of this Honourable court, with intent to defraud, obtained the sum of N37,000,000 (Thirty Seven  Million Naira) by false pretence from Mr. Eze Onyekachukwu by falsely representing to him that the said sum represents investment in forex trading business and committed the offence of obtaining money by false pretence, contrary to Sections 1(3) and 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act No 14 of 2006.”

 

Count two reads: “That you, Daniel Henry, ( trading under the name and style of Equigro Financial Services), sometime between January and October 2020 in Lagos, within the jurisdiction of this Honourable Court, stole by fraudulently converting to your own use the sum of Thirty Seven Million Naira (37,000,000.00), property of Mr. Eze Onyekachukwu and committed the offence of stealing contrary to Section 278(1) (a) and (b) and section 285 (1) of the Criminal Law of Lagos State of Nigeria 2011.”

 

The defendant pleaded “not guilty” to the charge, thereby leading to his full trial.

 

During the trial, the prosecution counsel, Babatunde Sonoiki, presented three witnesses and tendered several documents, which were admitted in evidence  by the court.

 

Delivering judgment, Justice Fadipe found him guilty and sentenced him to one year imprisonment, with an option of a fine of N2,000,000 (Two Million Naira). 

 

The court also ordered him to undertake 50 hours of community service and make restitution of N15,600,000 to the petitioner.

 

The convict’s road to the Correctional Centre began when he was arrested by operatives of the EFCC for obtaining  the sum of N37,000,000 (Thirty Seven  Million Naira) by false pretence from Mr. Eze Onyekachukwu in the guise of  getting him into investment in forex.  He neither invested the funds in forex nor returned the money to the petitioner.

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