JUDICIARY
FG Arraigns Dantata Success Promoters Over N2bn Fraud
By Tony Obiechina, Abuja
The Federal Government has arraigned Dantata Success and Profitable Company and their promoters before a Federal High Court in Abuja for investment fraud amounting to over N2billion.
Those charged along with the company are Basira Ibrahim Dantata, Lawan Sanni and Gaji Ibrahim Dantata.
The defendants who were arraigned before Justice A.
I Chikere of Federal High Court 3, were alleged to have between 2018 and 2019 within the jurisdiction of the court with intent to defraud about 7,250 investing public to subscribe and invest in an unregistered investment scheme amounting to over N2 billion.According to the charge, they committed an offence contrary to Section 54 of the Investments and Securities Act 2007 and punishable under same section.
When the matter came up in court, one of the defendants Gaji Ibrahim Dantata was not available due to health reasons.
Justice Chikere thereby adjourned the matter to November 5, 2020 for plea and motion filed by the defendants.
A statement by the Securities and Exchange Commission (SEC), on Wednesday, said the defendants were charged pursuant to its powers under Section 13 (w) of the Investments and Securities Act (ISA), 2007, on 6 February 2019 sealed up the business premises of Dantata Success & Profitable Company (DSPC), a company that had been engaging in illegal activities in the Nigerian capital market.
The Commission had then obtained court orders to freeze the bank accounts of the company to preserve the funds of investors in line with Section 13 (x) of the ISA 2007.
The company was not registered or authorized by the Commission to engage in any activity in the capital markets, however it targeted and reached Nigerian investors through radio programs in the Kano area of Nigeria and collected large sums of money from investors under the guise of a “structured investment”.
The activities of the company contravene the provisions of Section 38(1) and 67(1) of the Investments and Securities Act which respectively, prohibit unregistered and unauthorized entities/persons from operating any investment business or making any invitation to the public to acquire or dispose of any securities of a body corporate or to deposit money with anybody corporate for a fixed period or payable at call.
The Commission also issued a warning to the public that Dantata Success & Profitable Company and any individuals representing them are not registered and therefore not entitled to provide investment advisory or services in Nigeria.
The Commission further warned the public to exercise utmost caution before deciding to subscribe to investment schemes and to always confirm the registration status of any company or individual and the products they are offering before entering into any transaction with them.
“Information about entities registered by the Commission to provide investment services can be found in the following link http://sec.gov.ng/cmos/.”, the statement added.
A Kano State High Court has restrained the National Chairman of the All Progressives Congress (APC), Dr Abdullahi Umar Ganduje, from parading himself as a member of the party.
Justice Usman Malam Na’abba, on Wednesday, made the order, following an exparte motion filed by Dr Ibrahim Sa’ad on behalf of two APC executive members of Ganduje ward, Dawakin-Tofa Local Government Area.
The plaintiffs are the party’s Assistant Secretary, Laminu Sani, and its Legal Adviser, Haladu Gwanjo.
The duo are among the nine ward executive members who suspended Ganduje from the party at the ward level, two days ago.
The respondents in the case include, All Progressives Congress (APC), APC National Working Committee (NWC), APC Kano State Working Committee (KSWC), and Dr Abdullahi Umar Ganduje.
Granting the motion, Na’abba made an order restraining Ganduje from parading himself as APC National Chairman.
The court further made an order directing Ganduje to henceforth, desist from presiding over all affairs of the APC National Working Committee (NWC).
The court directed the respondents to henceforth maintain status quo ante belum as from April 15, pending the hearing and determination of the substantive suit on April, 30.
Justice Na’abba also granted the plaintiff’s prayer which ordered the APC SWC, from interfering with the legally and validly considered decision of executives of Ganduje ward, essentially on action endorsed by two thirds majority of the executives as provided by the party constitution.
“An order is hereby granted directing all parties in the suit APC (1st), APC National Working Committee (2nd), Kano State Working Committee APC (3rd), Dr. Abdullah Umar Ganduje (4th), to maintain status quo ante belum as of 15th April, 2024.
“The order thereby restraining the 1st respondent (APC) from recognizing the 4th respondent (Ganduje) as member of APC and prohibiting the 4th respondent (Ganduje) from presiding over any affairs of the NWC and restraining the state Working Committee from interfering with the legal and valid decision of the ward executives of Ganduje ward.
“That the 4th respondent (Ganduje) is prohibited from parading himself as member of APC or doing any act that may portray him or seem to be a member of APC, pending the hearing and determination of the substantive suit”.
It will be recalled that nine members of the Ganduje ward proclaimed the suspension of the National Chairman of APC over the allegation of corruption slammed on him by the Kano state government.
The nine APC executives said they were prompted to act following a petition written by one Ja’afaru Adamu, a member of APC from Ganduje’s polling unit.
In the petition, Adamu made allegations of corruption charges against the former governor just as he urged the ward leaders to investigate the matter to redeem the dented image of the party against the backdrop of President Bola Tinubu’s fight against corruption.
Following the failure of the Ward Chairman and Secretary to act on the petition, nine members of the executives, led by the legal adviser, acted and took the decision that led to the suspension Ganduje. (NAN)
A Jos Magistrates’ Court, on Wednesday, sentenced a 28-year-old businessman, Peter Sunday to one year imprisonment for stealing motor parts valued at N200,000.
The Magistrate, Mr Shawomi Bokkos, summarily sentenced Sunday after he pleaded guilty to the charge.
Bokkos, however, gave the convict an option to pay N30,000 and a compensation of N100,000 to the complainant.
The magistrate held that the punishment would serve as deterrent to other would-be offenders.
Earlier, the Prosecutor, Insp Labaran Ahmed, told the court that the case was reported on March 19, at the “B” Police station Bukuru by one Stephen Dung, the complainant.
The prosecutor alleged that the convict had trespassed into a mechanic workshop and stole the gearbox.
He told the court that the convict was however, apprehended at the point of his wanting to sell the stolen item.
The offence, according to him, is punishable under the Plateau state Penal Code Law. (NAN)
A Jos Magistrates’ Court on Wednesday sentenced a 29-year-old security guard, Harow Mali to three months imprisonment for stealing 25 litres of diesel.
The Judge, Shawomi Bokkos, summarily sentenced Mali after he pleaded guilty.
Bokkos, however, gave the convict an option to pay N10,000 fine.
The judge said the punishment would serve as deterrent to other would-be offenders.
Earlier, the Prosecution Counsel, Insp Labaran Ahmed told the court that the case was reported on March 20, at the “A” Police station Jos by one Yab Sunday, the complainant.
The prosecutor said the convict was caught with the 25 litres of diesel by the Police.
The offence, according to him, is punishable under the Plateau state Penal Code Law. (NAN)
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