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EFCC releases ex-Aviation Minister, Fani-Kayode after over 6 hours of grilling

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The Economic and Financial Crimes Commission (EFCC) has released a former Minister of Aviation, Femi Fani-Kayode after grilling him for hours.

Fani-Kayode was said to have been questioned over alleged forgery and manipulation of documents.

The former minister, who recently defected from the Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC), was invited to answer questions relating to the forgery of a medical report which he allegedly procured to evade his trial before a Federal High Court in Lagos, it was learnt.

However, it was gathered that the former minister arrived at the Lagos office of the commission in company with his lawyer around 2 pm and left at 8.30 pm.

He said, “Just arrived at the George Hotel for dinner. I was never arrested by the EFCC. I was invited & I flew down to Lagos to see them. I arrived in their office at 2.00pm & left at 8.30pm. I was granted bail on self recognition. They were very polite & professional. Thanks be to God.”

Fani-Kayode is also standing trial over an alleged N4.6 billion fraud before Justice Daniel Osiagor of the Federal High Court sitting in Lagos.

The EFCC had charged him alongside a former Minister of Finance, Nenadi Usman, and two others on 17 counts of conspiracy, money laundering, and fraud.

At the last sitting of the court on October 13, the judge had imposed a cost of N200,000 on him due to his failure to appear before the court for his re-arraignment following the transfer of the former trial judge, Justice Rilwan Aikawa.

He was ordered to pay the fine or stand the risk of having his bail revoked after he failed to appear before the court for his re-arraignment.

Instead of showing up in court for his re-arraignment, the former minister had sent a letter to the court, claiming that his doctors had placed him on bed rest.

Counsel for the EFCC, Mrs Bilikisu Buhari had informed the court that the letters by the second defendant had become numerous and had also become an excuse for him to evade trial.

“This is the third time he will be writing this type of letter from the same hospital. Whenever he doesn’t want to attend court, this is the type of letter we get,” she said.

But Fani-Kayode’s counsel, Bobo Fred-Ajudua, interrupted and informed the judge that although his client’s illness was a recurring one, he had attended court regularly, and this could be shown from the court’s records.

He, thereafter, asked the court to grant an adjournment in favour of his client. At that point, the trial judge decided to go through the court’s file and after searching, he discovered that the second defendant had actually sought a similar medical excuse five times.

The court then asked the defence counsel to take one of two options which were to either revoke the bail of the second defendant or to impose a fine of N200,000 to be paid before the next trial date.

“From my records, the second defendant had written the court five times excusing his trial on medical grounds. February 1, 2018; May 30, 2019; November 24, 2020; March 21, 2021, and today’s letter dated October 9, 2021.

“The second defendant is to pay a cost of N200,000 before the next adjourned date, as the recurring medical excuses have been a pattern that slows down this trial,” the judge held.

The defence counsel chose the latter option.

Justice Osaigor then adjourned the case until November 30 for re-arraignment of all the defendants.

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Google set to invest $9.5bn in US

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Google has announced plans to invest $9.5bn in its US offices and data centers around the country in 2022, up from more than the $7bn it spent in 2021.

According to CNN, the big bet on office space was coming at a point Google was embracing a hybrid work model. The Alphabet-owned company has called for many of its employees to work in an office three days a week after two years of being fully remote.

The Chief Executive Officer of Alphabet and Google, Sundar Pichai, said, “It might seem counterintuitive to step up our investment in physical offices even as we embrace more flexibility in how we work.

“Yet we believe it’s more important than ever to invest in our campuses and that doing so will make for better products, a greater quality of life for our employees, and stronger communities.”
Google said it would open an office in Atlanta this year and continue to develop and expand office space in Austin and New York. It added that it planned to continue investing in data centers in Iowa, Nebraska, and Tennessee, among other states.

As part of the announcement, Google said it expected to create at least 12,000 new full-time jobs at the company this year.

Google and other tech companies were among the first businesses to shift to remote work when the pandemic hit in early 2020. But that shift always appeared to be temporary. Like others in Silicon Valley, Google had previously invested billions in expansive campuses and lavish office benefits for workers.

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European markets pull back amid doubts over latest Russian pledges over Ukraine

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European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine, aimed at finding a solution to the conflict.

The pan-European Stoxx 600 fell 0.8% in early trade, with autos shedding 1.9% to lead losses, while oil and gas stocks gained 1.7%.

In terms of individual share price movement, Finland’s Nokian Tyres fell 6.6%, while Sweden’s Lundin Energy added 4.7%.

Investor sentiment was boosted on Tuesday following negotiations between Russian and Ukrainian officials in Turkey, at which Russia’s deputy defense minister claimed Moscow had decided to “drastically” cut back its military activity near Ukraine’s capital.

Alexander Fomin, who spoke following the talks in Istanbul, said Russia would slow its military operations near Kyiv and Chernihiv in order for peace talks to progress. Russia previously claimed that it would reduce military operations in other parts of Ukraine but then continued its advance.

Growing hope for a cease-fire appeared to boost investor sentiment Tuesday, as Dow Jones Industrial Average futures rose 200 points, or 0.6%. S&P 500 futures also climbed 0.6%, while Nasdaq 100 futures climbed 0.7%. Meanwhile, the price of U.S. benchmark West Texas Intermediate crude oil, which spiked on the heels of Russia’s invasion of Ukraine, fell more than 4% to $100 per barrel.

Doubts have set in over the pledge, however, and while the Russian military has begun moving some of its troops in Ukraine away from areas around Kyiv to positions elsewhere in Ukraine, Pentagon Press Secretary John Kirby warned the troop movements do not amount to a retreat.

Shares in Asia-Pacific were mixed in Wednesday trade as investors watch for developments surrounding the war in Ukraine. Stateside, traders are keeping tabs on a slew of key economic reports, while also monitoring the Federal Reserve’s planned interest rate hikes.

The Job Openings and Labor Turnover Survey on Tuesday showed 11.3 million job openings, higher than the 11.1 million expected. The ADP will also release its private payrolls data ahead of the closely watched monthly jobs report, on Friday.

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Lagos Assembly kicks against harassment of residents by police

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Lagos State House of Assembly Speaker, Mudashiru Obasa, yesterday, cautioned police in the state against harassment, intimidation and extortion of residents.

Obasa said this on the floor of the House when lawmakers honoured outgoing Commissioner of Police, Mr. Hakeem Odumosu, who has been promoted to Assistant Inspector-General, and is due to retire in January 2022.

Obasa said Odumosu was honoured as the first Commissioner of Police in the state to stand before the lawmakers and address Lagosians on his experience policing the state.

The Speaker thanked Odumosu for his openness and responsiveness to issues affecting the peace of the state.

“It is important to call on those behind you to know that the relationship between the police and the people need to be constantly improved upon,” Obasa said, adding that men of the Nigeria Police Force need to build more trust among the people.

“Everybody must be treated with respect, dignity and honour. And that is how we can earn respect. Policing should not be about harassment and extortion but building trust among the people and making them comfortable,” Obasa said.

The Commissioner of Police, who led a team of officers to the House, thanked the lawmakers for their support. According to him, nothing could have been achieved in terms of security and peace in the state without assistance of the House.

He said he would remain grateful to Lagosians for making it possible for him and his team to effectively manage the security of the state.

Odumosu, who described Lagos as ‘mini-Nigeria’, said proactivity of the Assembly led to the creation of laws that helped the police remain successful in the state.

He said the Cultism Prohibition Law also helped to reduce illegal associations in tertiary institutions in the state and enlightened property owners and residents.

“We promise to continue to excel in providing watertight security for people of the state,” he told the lawmakers. He also promised he would encourage his successor to sustain the relationship between the police and the House, while urging the lawmakers to extend their support to his successor.

“Policing Lagos is not a tea party. Without the laws in Lagos, it would have been difficult to police the state. Don’t get tired, don’t relent in making laws that would make Lagos maintain its place as the most peaceful state in Nigeria,” he said.

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