Connect with us


Nwasike Freed From EFCC Nest, Demands N160M Compensation




Retired Staff of Shell Petroleum Development Company (SPDC) and businessman, Engineer Obi Nwasike has been unconditionally released from EFCC captivity.

Engr. Nwasike was released last week Wednesday shortly after his arrest by EFCC operatives upon his landing at the Murtala International Airport, Lagos.

Speaking through his lawyer, Barrister Ndubisi Chuks Nwasike, the businessman was unlawfully arrested and harassed despite his health challenges by the EFCC through the instructions of one of his business partners, Mr. Okwy Okeke, the Managing Director of Continental Alarm Limited (CLA).

“This is a clear case of witch-hunt by an embittered business partner whose nefarious activities has been discovered and exposed by my client. Engineer Nwasike had discovered that the Chief Executive Officer of Continental Alarm Limited and some other board members of the company were embezzling and misappropriating company fund. They are also involved in some unethical business practices for which Engr. Nwasike being also a board member and in-fact the highest share holder of the company demanded explanation for. In order to avoid this, Mr. Okeke used some ready hands in the EFCC to harass and embarrass my client.”

Barr. Nwasike explained that his client, Engr. Nwasike through his company, Chester Mead Associates (CMA) bought 20% equity of the shares of CAL at the cost of $40,000.00 in the year 2000 when Engr. Nwasike was still a staff of Shell Petroleum.

“He used his experience, business acumen, influence and reputation in the oil and gas sector to grow and attract businesses for the CAL from Shell, Seplat Petroleum PLC, NAPIMS and NNPC. All these he did in good faith as a board member of CAL but what did he get in return, embarrassment and false accusation.”

He revealed that in the usual course of his client’s relationship with CAL, whenever the company executes contracts with Shell using the services and expertise of CAM, payment by shell on such contracts are usually remitted to CAM’s account which is managed wholly by Engr. Nwasike adding that, CAM has so far remitted over N180, 000,000.00 (One Hundred and Eighty Million Naira as proceeds from the contracts from Shell Plc to CAL through Mr. Okeke.

However, things went south when in 2015 when Engr. Nwasike demanded for a board meeting to discuss the deteriorated state of the finances of the company and foster a way to improve on it. He noted that prior to that time; CAL under the management of Mr. Okeke had never called any general meeting or board meeting of the company.

“When my client insisted that there be a board meeting to discuss issues regarding the company which included its indebtedness to Sterling bank, refusal of the CEO to pay basic emolument and benefits accrued to my client as an investor and other managerial issues, my client had to take a step to force the meeting by withholding his the sum of $114,595.40  (One Hundred and Fourteen Thousand, Five Hundred and Ninety-five US Dollars, Forty Cents) received from Shell insisting that if the meeting is not conveyed, the money will not be forwarded to CAL.

Also Read:  2017 AFRIMA Winners At A Glance

He further explained that after much pressure from Mr. Okeke and discovering that Engr. Nwasike would not budge, decided to organize the first board meeting which held on July 19, 2015 in the absence of all board members except Mr. Muhtar Bakare who was made a board member on August 15th 2014 without the knowledge or approval of the existing board of directors.

“Before the meeting, a spurious Statement of Account of the company was sent to my client which showed very clearly that Mr. Okeke as the Managing Director CAL as at December, 2014,   paid to himself a total sum of USD 1, 020,000.00 (One Million and Twenty Thousand, United States Dollars) at US 20,000.00 every month, which sum equaled approximately 86.2 per cent of the entire money accruing to CLA from the Shell contracts acquired and performed through my client. This supposed salary was without the approval of the board of directors which shows a clear case of impunity and mismanagement on the part of Mr. Okeke” he said.

According to him, as at 8th of October, 2015, the total indebtedness on CAL’s account is N5,253,109.34 (Five Million, Two Hundred and Fifty -three Thousand, One Hundred and Nine Naira, Thirty Four Kobo.) which was borrowed from Sterling Bank Limited to execute contracts for shell.

He said that his client consequently registered his discontent with the statement of account stressing that he found the amount Mr. Okeke was paying himself “excessive” and rejected it particularly given the fact that the account was prepared by Mr. Okeke’s friend and not a registered professional auditor.

“We immediately wrote a letter to CAL and Mr. Okeke demanding the payment of my client’s entitlements and maintained that until it is paid CAM will be not release the Shell fund” he said.

According to him, Mr. Okeke resulted to intimidate and arm-twist Engr. Nwasike into releasing the funds to them making spurious allegations to the EFCC.

“My client was thereafter invited for questioning but could not honor the invitation as a result of his ill health. At the time he was receiving treatment in London but he mandated that we (His Lawyers) honor the invitation on his behalf and avail the EFCC of all the information they require.

“On October 5 2015, two other letters were sent from Engineer Nwasike’s care givers in London, informing the EFCC of Engr. Nwasike’s precarious medical condition and will be held back in London till further notice. We also stated in the letter that as Company Secretaries to Chester Mead Associates Limited, we will be available to assist in furnishing them with any clarification that they may require.

“I also sent letters to the EFCC clarifying my client’s corporate and commercial relationship between with Mr. Okeke and emphasized that in spite of the $40,000. (Forty Thousand US Dollars) investment made by CMA and Engr. Nwasike, they have not received any money as dividend  or returns on investment while Mr. Okeke surreptitiously, accrued to himself $1,020,,000.00 in salary. We also informed them that that my client and CMA will be proceeding to court and advised the EFCC to realize that the courts or amicable arbitration shall resolve the dispute” he said.

Also Read:  Excitement As Kizz Daniel Expand Flyboy Inc

Barr. Nwasike said he was however flabbergasted when the EFCC froze the accounts of CMA with Guaranty Trust Bank (GTB) and arrested its Financial Officer, Mr. Wole Owoeye.

“On the 18th of January, 2016 CMA attempted to make a payment to some of its customers electronically through one of their bank accounts, but discovered that the banks’ system could not effect the payment.

“Unaware of the true position that the system was actually disabled by the banks, a financial officer of the CMA Mr. Owoeye, called the bank’s account officer Mr. Olumide, to know what the issue might be. Mr. Olumide did not disclose anything to him but rather advised him to visit the nearest GTB branch.

“Following Mr. Olumide’s advice, Mr. Owoye went to one of their bank’s branches at Port Harcourt to ascertain what the problem was. The bank officials collected his Identity Card, promising  to assist him verify the issue  and hopefully to resolve it within the shortest period of time, but without informing him, they invited the operatives of the EFCC, while keeping him in the bank for several hours.

“Upon the arrival of the operators of the EFCC Mr. Owoeye who is the Chief accountant of CMA, was arrested. He was detained overnight and by the following morning, he was transported in a car to Lagos.

“Mr. Owoeye was allegedly subjected to inhuman condition in the EFCC cell, he was unable to eat and sleep until his release on the 19th January 2016 when he was granted bail.

According to Barr. Nwasike, it was later revealed at EFCC offices in Port Harcourt and Lagos, that they ordered the Bank to freeze the account of the company because of allegations incedented by CAL and Mr. Okeke.

He noted that CMA’s GTB account had nothing to do with the relationship or business dealing the company has with CAL but was an arm-twist attempt by Mr. Okeke to bamboozle his client into releasing the Shell fund.

Barr. Nwasike pointed out that by their relationship with Mr. Okeke and CAL no evidence of crime, or even remote suspicion of crime ever arose to warrant the intervention of the EFCC.

He further said that his client has gone through untold emotional and psychological suffering in the hands of the EFCC and Mr. Okeke despite his health condition and is therefore demanding compensation of N160M while maintaining that Mr. Okeke returns the 1,020,000.00 (One Million and Twenty Thousand United States Dollars) that he surreptitiously paid to himself as salary or earnings as the Managing Director without the authority of the Board and directors and damages.


Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Okun Development Association Disowns Group



Barrister Femi Mokikan, President, Okun Development Association


The national executive of Okun Development Association (ODA) has distanced itself from a group named Okun Development Association, South West Branch.

The National Executive of ODA, the umbrella body representing the Yoruba people of Kogi State, rose from its quarterly meeting of 18th January 2020 held in Isanlu, Yagba East LG, with some far reaching decisions.

In a communiqué released in Kogi State after the meeting, and signed by the National President, Barrister Femi Mokikan, the National Secretary, Pst Ayo Abereoran and the National Legal Adviser, Barrister Abimbola, the association stated that:

1) Legal, civil and criminal actions will be taken against anybody or group of persons parading themselves as representing the Association at National or Branch levels in any manner outside the provisions of the constitution of the Association.

2) No organisation or individuals shall henceforth undertake any event or function, for commercial or non commercial purposes, using the Okun name without the written approval of the National Executive Committee of ODA.

3) That the security situation in Okunland is still of serious concern. We commend the efforts of the State Government, other security agencies in the State, our Hunters and individuals who have collaborated with us in addressing the challenges we are often confronted with.

4) To further enhance the effectiveness of our efforts, we believe the time has come for us to set up our own Okun Security Trust Fund (OSTF). Towards this end, a committee is working on the details and other modalities and the outcome will be announced as soon as their report is approved.

Also Read:  Kogi West Election: Dino Melaye, Smart Adeyemi To Know Fate November 30th

5) We received with excitement the creation of the AMOTEKUN Security outfit at inter governmental level to address the security challenges of the SW States. This provides us in ODA an opportunity to explore the possibility of raising our security collaboration with the SW Yorubas to another level. We shall not relent.

6) As part of possible measures to reduce unemployment, we appeal to Okun Sons and Daughters with means and the entrepreneurial profile to come home and establish businesses with potentials to absorb people into paid employment.

7) The presence of a Community Radio is a powerful means of social and cultural reengineering in any community. The ODA will explore every opportunity/possibility, through appropriate individuals, to ensure that Okun Radio becomes a reality.

8) To further give teeth to the ODA, the Okun Council of Elders is to be reconstituted within the shortest possible time. We, on behalf of all Okun people thank our fathers and mothers who have served meritoriously on the Council
9) We appeal to our politicians to stop meddling with the affairs of the National Association of Okun Students so as to permanently put an end to the divisive tendencies that continue to plague the body. What we need is unity at all levels.

10) That the Miss Okun Pageant is a proprietary asset of the Okun people.

Also Read:  Society Women Retiring In Style

Therefore the process of selecting the successful candidate to wear the Miss Okun Crown will henceforth be under the umbrella of ODA. This is without prejudice to any groups or individuals that may wish to initiate, organize and own their own beauty pageants, provided the word Okun is not reflected in the appellation of such pageant.

11) Meanwhile, ODA has announced that election will be held into various offices of the Lagos branch of the association before the end of Februa 2020. The Executive offices to be filled shalll be contested by individuals from Ijumu Local Government, Yagba West Local Government, Mopa Amuro Local Government, Yagba East Local Government, Oworo/Lokoja Local Government and Kabba/Bunu Local Government.

12) Ijumu Local Government will produce the Chairman of the Branch, while the Vice-Chairman will be produced by Oworo in Lokoja Local Government, the office of the Secretary has been zoned to Yagba West, while the Financial Secretary will be produced by Mopa Amuro. The post of Public Relation Officer (PRO) and Treasurer will come from Yagba East and Kabba/Bunu Local Government respectively.

Speaking further on the Communique, the National President, Barrister Femi Mokikan, appealed to the Federal Government to urgently rebuild all the federal roads in Okunland that are in a deplorable condition. The association President said most Okun communities are now “landlocked”.

Continue Reading


PDP Lawmakers Want To Impeach Me-Gov. Uzodinma




Newly sworn-in Governor of Imo State, Hope Uzodinma has revealed that the People Democratic Party (PDP) is trying to impeach him.

Gov. Uzodinma stated that a secret plan is in place by the opposition to incite the members of the House of Assembly to initiate impeachment proceedings against him.

Warning PDP members in the state to desist from false propaganda, mischief-making, and malice against him, he said that they will face the wrath of the law if the refuse.


Gov. Uzodinma’s alarm and warning followed some media reports that the Federal Government has failed to make any comment on his alleged $ 12 m (N 4.3 bn) fraud case as well as the travel ban on him.

“We know the game plan of the PDP because we are aware that they have been secretly inciting Imo State House of Assembly members to think of how to impeach the governor. So they are trying to rake up anything they can, even falsehood, to incite the public,” the statement reads.

The governor disclosed that he had already briefed his lawyers, who he said were studying the publication for appropriate legal action. He said the media publication, which tried to raise dust about him on old allegations, had been long settled and dismissed as a non-issue.

The publication had claimed that the Presidency was keeping mum over allegations of non-assets declaration, dud cheque and travel ban against the governor.

The statement accused the PDP members in the state of sponsoring the publication “even when they are aware that there is no iota of truth in the allegations”.

Also Read:  Raunchy Pictures: Cossy Heed Appeal Of Muslim Fan

The statement added that the allegation was sheer mischief and malice borne out of frustration because “they know very well that the assets declaration allegation was fallaciously contrived by the disgraced former Chairman of the Presidential Panel on Recovery of Public Properties, Mr. Okoi Obon-Obia which has been thrown out by the court”.

On the issue of the so-called travel ban on him, Uzodimma clarified that he had travelled twice out of the country and had no impediment according to the demands of his office.

On the so-called dud cheque allegation, the statement added that it was a non-issue that had long been dismissed by the courts and had nothing to do with the governor.

Continue Reading


Abule-Egba Pipeline Fire Put Out



Pipeline fire

The Abule-Egba, Lagos pipeline fire which started on Sunday night has been put out by firefighters and emergency responders.

The Lagos State Government revealed this in a tweet on Monday.

After several hours of intense fire fighting by the combined teams of Lagos Fire and other agencies, the fire at Ile Epo Ekoro Road, Abule-Egba Inwards Baruwa in Alimosho LGA was successfully put out,” the tweet said.

“By 9pm the fire was curtailed and by 11:30pm it was put off. Having contained the area at 11:30pm, an enumeration of the vehicles and properties that were involved this morning commenced.

Also Read:  Ohanaeze Ndigbo Frown At Bola Tinubu's 2023 Presidential Ambition

Houses and vehicles were also destroyed in the inferno.

Governor Babajide Sanwo-Olu tweeted about the incident.

“My thoughts and prayers are with the families & businesses affected in the unfortunate incident at Abule Egba. We are thankful for the brave members of LASEMA and our fire service that swung into action working all night to reduce the impact. Pipeline Vandals will be shown no mercy.

Also Read:  Sophia Momodu, Davido's Baby Mama Flaunts Sexy Curves

“We must work together to ensure man-made incidents like Abule Egba are avoided. Security and information gathering along volatile corridors will increase and a stronger synergy with communities must happen. We all have a role to play,” he said.

Continue Reading



Copyright © 2019, February13 Media