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JUDICIARY

FG Arraigns Dantata Success Promoters Over N2bn Fraud

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Federal High Courts
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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.

JUDICIARY

Court Remands Landlord for Alleged Defilement of Tenant’s Daughter

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A family court sitting at Iyaganku, Ibadan, on Tuesday ordered the remand of one Musibau Lamidi, 50, for alleged defilement of his tenant’s six-year-old daughter.

The Magistrate, Mrs S. A . Adesina, ordered that the landlord should be kept at the Agodi custodial facility pending advice from Oyo State  Director of Public Prosecutions.

Adesina did not take the landlord’s plea.

She adjourned the case until April 25 for mention.

Reports says that Musibau, a resident of Olode, Ibadan, was charged on one-count of defilement.

Earlier, the prosecutor, Insp Gbemisola Adedeji, told the court that the defendant, on March 13, between 8. 00 a.

m. and 4.00 p.m.  defiled his tenant’s daughter.

Adedeji said that Musibau had an issue with the child’s mother and asked her to pack out.

The prosecutor said that when the woman went to look for a house to rent, the defendant defiled  her daughter.

She said that the offence contravened Section 34 of the Oyo State Child Right’s
Law of 2006. (NAN)

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JUDICIARY

4 Friends Docked for Allegedly Threatening Cleric’s Life

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Court Sentences Applicant to 6 Months in Prison for Stealing Cell Phone
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Four friends were on Monday docked in a Grade ‘A’ Customary Court in  Ibadan for allegedly threatening the life of  pastor Charles Gold.

The police charged Olatunji Musibau, 44;Abiodun Folarin, 50; Kazeem Oluremi, 60 and Yusuf Sodiq, 23, with conspiracy and conduct likely to cause breach of peace.

The Prosecution Counsel, Mr Philip Amusan, told the court that the defendants allegedly committed the offence on March 8, at about 2 p.

m., at New Bodija Area in Ibadan.

Amusan alleged that the defendants and others at large, threatened violence against pastor Gold, of Echo Evangelical Ministry Ibadan.

He said the offence contravened the probisions of sections 516 and 383 of the Criminal Laws of Oyo State, 2000.

The defendants however pleaded not guilty to the charge.

The Court President, Mrs Moji Aworemi, admitted the defendants to bail in the sum of N150, 000 each and one surety each in like sum.

Aworemi held that the surety must be a blood relation to the defendants.

She adjourned the case until April 29, for mention. (NAN)

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2 Teenagers in Court for Allegedly Stealing Sewing Machine

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Two teenagers, Simor Aaron, 19, and Francis David, 18, were arraigned on Wednesday before a Kaduna Chief Magistrates’ Court for allegedly stealing a sewing machine and other items worth N325,000.

The defendants, both residents of High-Cost Narayi, Kaduna, are standing trial on a two-count charge of conspiracy and stealing, to which they pleaded not guilty.

The Prosecutor, Insp Chidi Leo, told the court that the defendants committed the offences on March 11, at Barnawa Kaduna.

According to Leo, the duo burgled a tailoring shop of one Gladys Peter and stole her sewing machine, six wrappers, and four clothing materials all valued at N325,000.

The prosecutor stated that the defendants were caught and handed over to the police by members of the vigilante group on patrol in the area.

Leo said that the offences contravened Sections 281 and 217 of the Penal Code of Kaduna State, 2017, which stipulates a three-year jail term for stealing and two years imprisonment for conspiracy.

The Magistrate, Ibrahim Emmanuel, granted the defendants bail in the sum of N100,000 each with two sureties each in like sum, who must be gainfully employed.

Emmanuel adjourned the case until April 22, for hearing. (NAN)

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