Business
Union Bank MD, Others Face Fraud Charges
Interestingly, a federal high court has ordered bosses of Citi Bank, Union Bank and 14 other persons to appear before it to answer criminal charges of fraudulent diversion of N10.7 billion belong to a client
The federal high court sitting in Lagos, has issued a writ of summon to C. S. Sankey, chairman, Nigeria International Bank Limited, Citi Bank; Emeka Emuwa, managing director, Union Bank Plc and Olusola Fagbure, legal adviser/company secretary, Citibank, to appear before it on Monday, January 25 in a N10.7 billion criminal charge preferred against them and 14 others by the federal government of Nigeria.
The issuance of the writ of summon and its service to the accused persons on Thursday, January 14, was sequel to an approval by President Muhammadu Buhari for Abubakar Malami, attorney-general of the federation, AGF and minister of justice, to relist the case and begin a fresh charge against them for allegedly defrauding Michael Emerah, an Onitsha-based business mogul and chairman/managing director, Micmerah Group of Companies Limited. Emerah was defrauded of huge sums of money in 2001 under the pretence of assisting him import luxury buses and new motor spare parts.
In the writ of summon, the AGF also ordered the restoration of the attorney-general’s fiat earlier granted to Chris Uche, prosecution counsel, to prosecute the case on behalf of the federal government but which was dropped by the former AGF in 2011.
The order came as a result of the action of Mohammed Adoke, former AGF, who entered a notice of discontinuance (Nolle prosequi) of the case in May 2011 and at the same time withdrew the fiat granted to the prosecution counsel.
In a letter conveying Buhari’s order to the complainant in the case M. Abdullahi, deputy director of prosecution of the federation, DDPF, in the federal ministry of justice, stated that Buhari’s order to re-open the case for the interest of justice, was in line with his administration’s change mantra and his determination to revisit all high profile fraudulent cases, aimed at stamping out corruption within the system in all facets of the nation’s economy.
In a strongly worded letter by Emerah to Buhari, dated August 10, 2015 the complainant alleged that the case was discontinued in a corrupt manner by the former AGF. It is believed Emerah’s complaint prompted an advice from the DDPF to order the re-opening of the case in the interest of justice because of the contentious nature of the case. Besides, going by the petitions and counter-petitions in the file, the DDPF said that the office of the present AGF was convinced that there was sufficient evidence to prosecute the suspects and that the proper venue to determine the interests of the parties involved should be the court and not chambers of the AGF, so that no party would have a feeling that the ministry of justice could not dispense justice.
Emerah had in the petition to the president, alleged that Uche’s fiat to prosecute the case on behalf of the federal government was fraudulently withdrawn by the former AGF, who equally entered the notice of discontinuance (Nolle pprosequi) in a corrupt manner.
Based on the order for the reinstatement of the charge and restoration of the AGF’s fiat to Uche, the prosecution headed to the federal high court, Lagos and slammed a fresh 20-count charge of conspiracy, diversion of federal government’s revenue into their private pockets, fraud, falsification of documents, presentation of untrue documents, making of forged documents, counterfeiting of documents, corrupt enrichment, obtaining money under false pretence, obtaining property under false pretence, fraudulent invasion of duty, conspiracy to steal, conspiracy to commit felony and untrue declaration against the accused persons which prompted this latest writ of summon by the court to appear before it on January 25.
In the fresh charge before the court, other accused persons in the matter are as Peter H. Harris, Adekunle Oladosun, Okechi Emeka Egwu, Lulu Ndubuka, Kabiru Bello, J. E. Eriagbon, a principal staff of Central Bank of Nigeria, CBN; Samson Ebie, Steve Obodomechine, Mikky Dons Nigeria Limited, Mark Anaele, Ariyo Oyowole Odunala, Peter Bamidele Oriade and Obianwa Chuba.
In the suit, the prosecution alleged that the accused persons had on or about January 31, 2001 at Lagos State within the jurisdiction of the federal high court, induced Micmerah International Agency Limited, by means of false pretences and with intent to defraud, delivered to themselves through the Citi bank the sum of about N250 million under the guise of being used for offsetting the purported import finance facility.
The prosecution also alleged that the accused persons had on the same date and venue, conspired to commit an offence to wit: to induce Micmerah by means of false pretence and with intent to defraud, to deliver the sum of N55 million to Mikky Dons Nigeria Limited being money meant for payment of Customs Duty on four Volvo Luxury buses and two 40-feet containers imported into Nigeria by the said Micmerah International Agency Limited.
The prosecution further alleged that the accused persons knowingly falsified an affidavit purported to have been sworn to by one Tawa Ibikunle on April, 11 2003 before Lagos State high court justice for the purpose of fraudulently affecting the release of four Volvo luxury buses and two 40-feet containers from Nigeria Customs and Exercise Department.
The accused persons were further charged in count eight for allegedly making forged document, namely Union Bank of Nigeria plc, Customs revenue receipt Nos. CRR: 092802, 092803, 092804, 092805 and 092700 for the sum of N55 million knowing it to be false and with intent that it may be acted upon as genuine and also to defraud Micmerah International Agency Limited and the federal government of Nigeria.
They were also charged for conspiracy to contribute to the economic adversity of the federal government of Nigeria by diverting the sum of N55 million to themselves being money meant for the payment of customs duty in respect of four Volvo luxury buses and two 40-feet containers, property of Micmerah International Agency Limited, adding that they equally obtained the amount by means of false pretences, attempted to evade the payment of same amount into government coffers and conspired to steal and corruptly enrich themselves with the same N55 million.
Business
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”
In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.
At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.
This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.
The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.
At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.
Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.
The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.
This widespread non-compliance stems from multiple sources:
A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.
A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.
An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.
Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.
The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.
Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.
Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.
In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.
Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.
Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.
Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”
Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”
These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.
Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.
The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”
The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.
Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.
When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.
In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.
The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.
Business
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
By femi Oyewale
Business
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.
The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.
Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.
Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.
The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.
For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.
The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.
Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.
As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
Business6 months agoBatsumi Travel CEO Lisa Sebogodi Wins Prestigious Africa Travel 100 Women Award
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING





You must be logged in to post a comment Login