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Globus Bank Enmeshed in N1.7 Billion Electronic Transfer Fraud

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Globus Bank
In a bid to recover a total sum of N1,755,376,156.34 fraudulently transfer electronically from  its vault  Globus bank Limited has filed an application before a Lagos high court, urging the court to order the reversal of the funds from the account of the fraudulent beneficiaries domicile in eight commercial banks.
        According to an affidavit sworn to by the legal officer of Globus bank Limited Kosisochukwu  Ngene filed before the court by a Legal practitioner, Barrister V.K.Banjo, the deponent make oath and states as follows:
     That Globus bank is a commercial bank with the registered office at No 6
  Adeyemo Alakija street, Victoria Island, Lagos and licensed under the laws of Nigeria to carry out banking business in Nigeria.
    That between Monday 6th and Saturday 11th of June 2022, there was a system glitch in the Globus bank’s Unstructured Supplementary Service Data (USSD) application, which led to the processing of several fraudulent and unauthorized electronic transfer in the sum of N1,755,376,156.34 (One Billion, Seven Hundred and Fifty-Five Million, Three Hundred and Seventy-Six Thousand, One Hundred Fifty-Six Naira thirty four kobo.
 Seven hundred and nine (709) Globus bank customers’ who were Involved in the fraudulently transfer to the various accounts domiciled with the 8 commercial banks are contain in the Excel sheet filed before the court.
   Immediately, the Globus bank discovered the glitch, the bank instantaneously notified all the banks involved and requested that the beneficiary accounts be restricted in line with Central bank of Nigeria regulation to avoid dissipation of the funds fraudulently transferred into the accounts domiciled with the banks.
   Subsequently, Globus bank immediately approached the Magistrate Court, in the Yaba Magisterial District and obtained an order directing the banks to freeze and reverse the amount fraudulently transferred into various accounts domiciled in the  banks.
   That in response to the order served on the respondents some of the respondents  were  able to salvage certain sum wherein the total sum of N817,998,969.85 were returned to the bank while the total sum of  N962,019,843.35 is still outstanding and yet to be returned to the bank by the respondents banks.
  The Excel sheet which contains the names of the respondents the total amount fraudulently transfered from Globus bank,the total amount salvaged and returned to the Globus and the total amount outstanding is analyze is filed before the court.
   That the parties in this suit are also financial institutions; therefore the order of this honourable court is also required, to enable the Respondents reverse the salvaged fund back to the Applicant.
   Although, the Applicant obtained an order of restriction on the accounts domiciled with the Respondent banks from the Magistrate court, as exhibited before the court,  Globus bank Limited still requires the order of the  high court to enable the Respondents reverse and remit the salvaged funds to the bank.
   Some of the Respondent banks are ready and willing to reverse and remit the salvaged sum to the  Globus bank when the order of the court was served on them, and have further requested an order of the  high court, to enable them reverse and remit the salvaged funds.
   The requirement for formal proceedings has resulted in the apparent delay between the date of the transaction and the filing of the instant application.
    Therefore it would be unjust and inequitable for the Respondents to refuse to reverse and recall the transfer of the sum fraudulently transferred in the unauthorized transaction, as that would amount to unjust enrichment on the part of the Respondent banks’ customers.
     The Respondents  are not contesting the  facts stated in this case but require Court order of the high court to compel the Respondents to reverse the amounts to the Applicant.
   It will be in the interest of justice for the reliefs sought in the Originating Summons to be granted as prayed, as the Respondent would not be prejudiced.
That the Rules of this Honourable court empower this Court to hear an urgent matter such as this.
 Globus bank Limited herein is willing to give an undertaking as to damages if this order ought not to have been made,
    Consequently,Globus bank Limited is seeking the following reliefs from the court.
      An Order of the Court directing all the eight  banks to immediately reverse and remit to, Globus bank Limited the total sum of N962,019,843.35 (Nine hundred and sixty two million, nineteen thousand , eight hundred and forty three naira, thirty five kobo), being the outstanding sum yet to be salvaged from the fraudulent transfer into several accounts domiciled with the eight Respondents from the Globus bank 709 customers’ accounts, less depleted sum.
     An order directing the eight commercial banks to release all account information in respect of the destination accounts and the beneficiaries of the transfer funds
    And for such further order(s) as the court may deem fit to make in the circumstances of this case

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Kindness Defeats Witchcraft: Apostle Suleman’s Cross-Over Lecture at ‘Mercy Night’

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Evil is very much alive and well in this world. We are reminded of this fact as we see it play out almost often. Although evil occurs and serves as a stark reminder of the cruelty that exists within humankind, showing kindness can easily defeat evil acts, which is witchcraft, lectures popular servant of God and General Overseer of the Omega Fire Ministries (OFM) worldwide, Apostle Johnson Suleman.

 

At the ministry’s Cross-Over service on Tuesday 31st of December, 2024 tagged ‘Mercy Night’, the Restoration Apostle, ably present with his wife, Reverend Lizzy Suleman, warned us to “never avenge ourselves”. To the contrary, Apostle Suleman cautions; “do not be overcome by evil, but overcome evil with good”.

 

Usually, the natural response of man when he is hurt is to hurt back. But, Suleman says “God tells us something different”, quoting Romans 12:19–21: “Vengeance is mine, I will repay. If your enemy is hungry, feed him; if he is thirsty, give him something to drink; for by so doing you will heap burning coals on his head. Do not be overcome by evil, but overcome evil with good.”

 

According to the servant of God, not only should you refuse to take revenge, but you should intentionally do good to those who you would consider your enemies. Showing them love and kindness would so confuse and frustrate your enemy that the result would be them turning to God.

“If you want to see witchcraft being rubbished in your life, engage In kindness. To recover means to regaining possession. To recover means a comeback, the return of control. To recover means to improve and to become better. To recover is renewal,” Suleman teaches, suggesting that hate must not define us.

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Agbado Youths Celebrate Historic Succession, Rally Support for Prince Akintoye as King

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Agbado Community in Ogun State erupted in jubilation on December 27, 2024, as the youths led the town in a grand end-of-year celebration to honor the historic succession of the late patriarch, High Chief Anthony Kayode Akinrinade, by his son, Prince Akintoye Olusola Akinrinade.

The event marked a significant milestone in Agbado’s journey toward justice and stability following a prolonged Obaship crisis that stifled the community’s development for over three decades. The crisis, marked by legal battles and defiance of court orders with suit number CA/IB/75/2020, was recently resolved by the steadfast judgment of the Court of Appeal, Ibadan Division. The court ruled in favor of Prince Akintoye Olusola as the rightful successor, allowing him to continue the legal fight to restore order and dignity to Agbado.

 

For 35 years, Agbado thrived as a hub of agricultural trade and economic prosperity, with 147 villages under its jurisdiction. However, internal strife caused by selfish ambitions led to stagnation and disunity. The High Court delivered a landmark judgment five years ago, but resistance by a self-proclaimed monarch delayed the community’s progress.

On the 30th of October, 2024, the Court of Appeal officially recognized Prince Akintoye Olusola Akinrinade as the ‘Stand-In’ Plaintiff, a move that has rekindled hope for the community. This recognition also symbolizes a continuation of the legacy of the late High Chief Anthony Akinrinade, whose leadership was revered by all.

The festive event, organized by the Agbado Youth Forum, drew dignitaries, elders, chiefs, and community leaders. Baale Patoko, a key figure in the community, expressed optimism about the succession, stating, “The whole of Agbado strongly believes that by 2025, Prince Akintoye will be crowned king, bringing renewed peace and progress to our land.”

Pa Theophilus Amodu, a respected elder, praised Prince Akintoye’s exemplary character, noting, “He has taken after his father in good deeds and enjoys the trust and respect of the people.”

Mr. Amodu, President of the Agbado Youth Forum, echoed this sentiment, affirming the unwavering support of the youth for Prince Akintoye’s emergence as king. “His leadership will undoubtedly usher in peace, harmony, and development in Agbado,” he said.

The event concluded with renewed hope and determination among the people of Agbado, who are confident that Prince Akintoye’s ascension to the throne will mark the beginning of a new era for the community.

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Ex banker, Femi Olushakin, others arraigned for alleged armed robbery

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A former banker turned businessman, Olufemi Olalekan Olushakin alongside two others on Thursday were arraigned before the Chief Magistrate’s Court in Ibadan, Oyo State for alleged robbery.

Olushakin —now at large— and the two suspects — Ayomide Akanbi and David Adewale— were alleged to have conspired to commit felony to-wit armed robbery and thereby committed an offence contrary to and punishable under Section 6 (B) of the Robbery and Firearms (Special Provision) Act Cap RII Vol. 14 Laws of the Federal Republic of Nigeria 2004.

In the case with Charge number: MI/1672C (Commissioner of Police, Oyo State Vs. Ayomide Akanbi, M, 32 and David Adewole, M, 47): “Count 1: That you (1) Ayomide Akanbi ‘M’ (2) David Adewole ‘M’ and one Olusakin Olufemi Olalekan ‘M’ now at large on 13th December, 2024 at about 5:00pm at Global Signature Hotel, New Gbagi Road, Ibadan in the Ibadan Magisterial District did conspire together to commit felony to-wit Armed Robbery and thereby committed an offence contrary to and punishable under section 6 (B) of the Robbery and Firearms (Special Provision) Act Cap R II Vol. 14 Laws of the Federal Republic of Nigeria 2004.

“Count 11: That you (1) Ayomide Akanbi ‘M’ (2) David Adewole ‘M’ and one Olusakin Olufemi Olalekan ‘M’ now at large on the same date, time and place in the above Magisterial District while armed yourselves with guns and some other dangerous weapons did attack one Akinola Dare ‘M’ and also dispossessed him of cash sum of Two Million, One Hundred and Forty Thousand Naira (N2,140,000.00) only, property of Global Signature Hotel Limited and thereby committed an offence contrary to and punishable under Section 1 (2) of the Robbery and Firearms (Special Provision) Act Cap R II Vol. 14 laws of the Federal Republic of Nigeria 2004.”

The Police Prosecutor, Inspector Kefas Usman told court that Olushakin —a former branch manager with a second generation bank and now Chairman of LAC Autos & Spare Ltd.— alongside Akanbi, Adewale and others on the night of Friday, December 13, allegedly forcefully gained entrance into Global Signature Hotel in Ibadan by disarming the security men at the gate.

Usman stated that the suspects made forceful and unlawful entry into the hotel, went straight to the control room, destroyed the CCTV memory and cut off the CCTV machine.

“After vandalizing it, they went to the POS machine, took the machines of the company, went to the manager of the hotel, one Dare Akinola, at gunpoint took him to the cash registry to collect all the sales of the week including room sales, lodgment, bar & hall payment totalling over N2,140,000 (Two million, One hundred and forty thousand Naira).

“They went to all the rooms, rounded up all the customers, and forcefully asked them to transfer money into Olushakin’s personal account during the robbery.

“At gunpoint, they gathered everybody to the reception, laid them down at gunpoint and in fear of their lives, the customers made cash transfers to Olushakin’s accounts, they vandalized some other things, took the lodgment book, computers, and other equipment.”

The Chief Magistrate, Mrs. Giwa Babalola, ordered that the suspects should be remanded at the Agodi Correctional Center in Ibadan.

She adjourned the case till January 29, 2025 for further mention.

However, with Olushakin’s absence during the arraignment, the Oyo State Police Command has launched a manhunt for him with a bounty of N5 million placed on him to the public for anybody with useful information leading to arrest.

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