Nelson Ugwuagbo

A Federal High Court sitting in Abuja has granted bail to the presidential candidate of the African Action Congress (AAC), Omoyele Sowore, in the sum of N200 million.

Delivering the ruling on Tuesday, Justice Muhammad Umar ordered Sowore to provide two sureties as part of the bail conditions. The court directed that one of the sureties must be a traditional ruler from Sowore’s community, while the other must own landed property in Abuja.

Justice Umar further ordered that both sureties be verified by the prosecution before the bail conditions can be perfected.

The court also directed Sowore to surrender his international passport to the Deputy Chief Registrar of the court pending the conclusion of his trial.

Sowore is facing prosecution by the Department of State Services (DSS) over allegations that he made false claims against President Bola Tinubu by referring to him as “a criminal” in posts published on his X and Facebook accounts.

State governors in Nigeria are pushing for expanded constitutional powers over security operations within their states, alongside guaranteed funding mechanisms for the proposed State Police Services, a report from a high-level strategic meeting has revealed.

The meeting, convened by the Nigeria Governors’ Forum (NGF) Secretariat in Abuja last week, brought together state Attorneys-General, legal experts, and senior security officials to harmonise proposals for the establishment of state police across the country.

According to the report, obtained by The PUNCH through the NGF bulletin, participants discussed a comprehensive constitutional and institutional framework for State Police Services, covering operational authority, funding arrangements, personnel management, oversight mechanisms, and the relationship between federal and state policing structures.

A key recommendation from the meeting was the need for stronger constitutional recognition of governors’ roles in coordinating security operations within their respective states.

The report noted that stakeholders reviewed legislative provisions currently under consideration, with particular focus on measures that would grant governors greater authority in security-related matters while ensuring effective collaboration between federal and state security institutions.

Edo State Governor, Monday Okpebholo, has declared that individuals convicted of kidnapping in the state will be publicly executed by hanging at designated roundabouts as part of efforts to combat the crime.

The governor also announced plans to establish a special court to handle kidnapping and cultism cases, with the aim of ensuring swift prosecution and judgment.

Okpebholo made the remarks on Thursday while addressing journalists and security personnel during the parade of suspected kidnappers and other criminal suspects at the headquarters of the Edo State Police Command in Benin City.

According to the governor, whose comments were shared in a video posted on his X account, his administration is committed to eliminating kidnapping and cult-related activities across the state.

He stated that the proposed special court would expedite the trial of suspects, saying cases could be concluded within two to three weeks.

“Now we are going to set a special court to try suspected kidnappers and cultists and decide within two, three weeks. Once the process is completed and I sign it, the execution will follow by hanging. I will take you to the roundabout so that the whole Edo people will see you, and I will have no regrets about it,” Okpebholo said.

In what marks another damning blow to the integrity of Nigeria’s apex financial regulatory institution, an investigative dossier obtained by our Reporters has exposed a massive asset non-disclosure scandal involving the Deputy Governor for Operations at the Central Bank of Nigeria (CBN), Emem Nnana Usoro.

High-level property records obtained from the State of California reveal that the high-ranking financial regulator has secretly maintained ownership of a luxury condominium in West Hollywood, Los Angeles, which she blatantly failed to declare upon her appointment and subsequent Senate confirmation.

The explosive document uncovers a severe breach of public trust and legal requirements mandated for public officials, especially those tasked with managing the nation’s monetary policies. According to the certified asset trail, Usoro acquired the choice property, located at 1426 N Laurel Ave, Apt 107, West Hollywood, CA 90046, on June 24, 2009.

The transaction was finalized via a Grant Deed for a purchase price of $570,000. For over sixteen years, this premium American real estate asset has remained safely tucked away under her name, entirely hidden from the mandatory asset oversight mechanisms in Nigeria.

The hidden property is no modest apartment; it is an upscale residential condominium unit encompassing 1,362 square feet of living space, featuring two bedrooms and three bathrooms, built within the exclusive Laurel Sunset Townhomes subdivision.

Over the nearly two decades of her ownership, the value of the asset has soared significantly. Current real estate valuations put the market value of the property at an estimated $1,047,500, boasting an annual property tax bill of over $9,160 as of recent assessments.

Usoro, a seasoned banker who built a 20-year career in commercial banking spanning branch management, credit, marketing, and operations, was appointed to her prestigious CBN role in 2023 by President Bola Ahmed Tinubu and subsequently screened and confirmed by the Nigerian Senate on September 26, 2023.

Prior to stepping into the regulatory halls of the CBN, she rose to prominence at the United Bank for Africa (UBA), where she served as the Executive Director of Northern Operations. Ironically, despite being heavily celebrated in corporate media, including being featured in UBA’s Superwoman magazine as a role model and heavily lauded for driving financial literacy, this investigative breakthrough uncovers a dark side to her professional ascension. Usoro joined UBA in 2011.

By failing to list this multi-million cedi-equivalent foreign asset upon entering the apex bank, Usoro has directly ran afoul of the strict provisions governing financial transparency in Nigeria’s banking sector. Specifically, Section 1 of the Bank Employees, Etc.

(Declaration of Assets) Act explicitly dictates that every bank employee, including new entrants and those transferring service, must make a full and unreserved disclosure of all assets and liabilities within fourteen days of assuming duty.

The Act leaves no room for selective declaration, meaning her West Hollywood luxury property should have topped the list of her statutory declaration forms.

The legal consequences for this deliberate omission are severe and uncompromising. Under Section 8 of the same Act, any banking official who knowingly fails to make a full disclosure of assets, or neglects to furnish required information, commits a serious criminal offense.

Upon conviction, the law stipulates a strict penalty of imprisonment for a term of ten years. Furthermore, subsection 2 mandates that any asset found to have been concealed or left undisclosed shall be permanently forfeited to the Federal Government of Nigeria.

This revelation shatters the carefully curated public image of the University of Uyo Biochemistry graduate and Obafemi Awolowo University MBA alumnus. Having attended prestigious global institutions like the Lagos Business School and Harvard Business School, Usoro cannot plead ignorance of international anti-money laundering frameworks or national asset declaration protocols.

The deliberate shielding of a prime piece of California real estate, while sitting at the helm of the Central Bank of Nigeria’s operations, signals a deeply entrenched culture of regulatory defiance among elite public appointees. When this media contacted Usoro for comments, she directed one Ibrahim to respond.

Ibrahim noted that Usoro declared the asset with CCB but was silent on if she declared it in accordance with the Bank Employees, Etc. (Declaration of Assets) Act.

Source: secretsreporter.com