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N400m Fraud: Metuh, Bags Seven Year- Jail Term
By Gowon Emakpe, Abuja
Federal High Court in Abuja, yesterday convicted former National Publicity
Secretary of the Peoples Democratic Party (PDP), Olisa Metuh and sentenced him to seven years imprison over N400million fraud.
In the judgement, which lasted over five hours, Justice Okon Abang convicted Metuh on all the seven counts, including the fraudulent receipt of N400m from the Office of the National Security
Adviser in November 2014 and use of the money for his personal purposes and for transacting with a cash sum of $2m without going through a financial institution.
The judge said the Economic and Financial Crimes Commission (EFCC) had successfully proved that the transaction violated the anti-money laundering law, which pegged the maximum cash transaction an individual could take outside a financial institution and sentenced Metuh to seven years imprisonment for counts 1, 2, 4 and 7, five years imprisonment in respect of count 3, and three years in respect of counts 5 and 6.
The sentences shall run concurrently.
While directing Metuh to pay a fine of N375m to the Federal
Government, he further ordered Destra Investments to pay N25m to the
Federal Government.
Justice Abang ordered the winding up of Destra Investment with its accounts in Diamond Bank and Asset Resource Management to be closed and their proceeds forfeited to the Federal Government.
Metuh and his company, Destra Investment Limited, are being prosecuted by
the Economic and Financial Crimes Commission on seven counts of money
laundering including allegations that they both fraudulently took the N400m “when they reasonably ought to know” that the money was part of the proceeds of alleged criminal activity of the then NSA, Sambo Dasuki.
Furthermore, he was also accused of transacting with a cash of $2m
without going through a financial institution in violation of a provision of the Money Laundering (Prohibition) Act.
The defendants had pleaded not guilty to all the seven counts when
they were arraigned before the court in January 2016.
Metuh’s defence team, comprising, Mr. Abel Ozioko and Mr. Tochukwu Onwugbufor (SAN), urged the court to discharge and acquit their clients on the grounds that the prosecution failed to
prove the alleged offences, but the prosecution led by Mr.
Sylvanus Tahir, maintained that his team had proved all the offences beyond reasonable doubt, as
he called on the judge to pass a guilty verdict on the defendants.
“It is my view that Metuh took possession of the N400 million from the
office of the NSA without contractual agreement; he is guilty of money
laundering and is hereby convicted on count one”, Abang said
He also found him guilty on the second count of the charges which bordered on the
criminal conversion of N400 million.
He said that the evidence before him showed that the money was used to
fund activities of the PDP, adding that Metuh also used the money to
acquire a property at Banana Island in Lagos.
This, according to him, was contrary to the e-payment mandate which stated
that the money was meant for security services, whereas Dextra
Investment was not a registered security outfit.
Specifically, he said evidence pointed to the fact that the money was
deliberately laundered to brighten the chances of the PDP during the
2015 general elections.
Abang said Metuh failed to explain the transfer of N50 million from the N400 million to the joint account of
himself and his wife.
“It is, therefore, manifestly clear that the defendant converted the
money for PDP campaign activities and I find him guilty and is, hereby,
convicted accordingly,” the judge declared.
On the third count which Justice Abang ruled that the e-payment
mandate showed that the money was released for security services but
was concealed and used for PDP campaign activities and personal use.
“I hereby find him guilty and convicted on count 3.
On count 4, which was the allegation of illegal disbursement of funds,
he held that the Prosecution placed credible evidence before the
court which showed some of the unlawful acts of Colonel Sambo Dasuki
as the NSA while in office.
“The first defendant was desirous of repositioning the PDP
and he deployed the funds for that purpose and personal use”, he added
Stressing that the meeting wherein former President Jonathan allegedly
authorized the payment was tagged a ‘security meeting’, Abang wondered
why only the former NSA and top officials of the PDP attended the
meeting, yet Metuh claimed the money was disbursed for special national assignment.
“I agree with the prosecution that Metuh’s claims are tissues of lies
hurriedly put in place to divert the attention of the court from
prying into the disbursement of the N400 million received from the
office of the NSA through an under the table agreement. Its a case of
public funds filtering into private hands for selfish reasons.”
Justice Abang, therefore, held that he N400 million was never released
for a special national assignment based on the evidence before him.
“Therefore, I find the first and second defendants guilty on count
4,”. And therefore, held that the N400 million was never released for
a special national assignment based on the evidence before him.
He then proceeded to give judgement on count 7 – transfer of funds to a PDP
chieftain, saying he would come back to counts 5 and 6.
On the seventh count of the charges, the trial judge held that the transfer
of N27.7 million to Mr Anthony Anenih for a special national
assignment directly represented the illicit nature of the fund.
“I have again considered the position of the prosecution and found
that the prosecution proved the transfer of N27.7 million to Chief
Anthony Anenih, and I hereby find the first and second defendants
guilty on count 7 and are hereby convicted,” he ruled.
Thereafter, Justice Abang said he has considered the arguments of the
defendants on Counts 5 and 6 which deal with making cash transactions
above the statutory threshold of N5 million for individuals and N10
million for corporate bodies.
“I agree with the prosecution that the defendants committed the
offence by handing over raw cash of $2 million dollars to a Bureau de
Chage (BDC) operator to change same into naira.
“From the evidence placed before me, the BDC is not even a registered
operator. The transaction is, therefore, undocumented and runs
contrary to the Anti-Money Laundering Act.”
“I agree with the prosecution that the $2 million and part of the N400
million received from the office of the NSA was used to acquire
properties in Lagos,” he added.
According to the trial judge, the transaction as regards counts 5 and
6 was clearly in excess of the statutory threshold whether the money
belonged to the defendants or not and Metuh failed in his defence to
disclose the source of the $2 million.
“I hereby find the first and second defendants guilty on counts 5 and 6,”
After taking all the counts, the court convicted and found the former
PDP spokesman guilty of all seven charges levelled against him by the
EFCC.
He advised Metuh that he should have been sober and resolve the matter
amicably, especially when the case involved a family member.
“If I had the powers to exercise discretion, I would have exercised it
in favour of the convict.
“Since I can’t go outside the law which stipulates between seven and
14 years imprisonment, in respect to Counts One to Three, I sentence
him to seven years imprisonment with effect from yesterday.
It was not clear as at time of going to the Press if Metuh was going to appeal his case.
COVER
Nigeria, Germany Deepen Economic Cooperation, Strengthen Partnership
By Tony Obiechina, Abuja
The Federal Government has reaffirmed its commitment to strengthening Nigeria’s bilateral relations with Germany, with renewed focus on economic cooperation, investment promotion, energy partnerships, and the effective implementation of existing agreements.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this statement during a visit to the Ministry in Abuja on Monday by the Ambassador of the Federal Republic of Germany to Nigeria, Stefan Rössel.
The minister welcomed the ambassador and his delegation, expressing Nigeria’s appreciation for Germany’s longstanding partnership and support for the country’s economic reform programme, particularly in the early stages of implementation.
He recalled that when German Chancellor Olaf Scholz visited Nigeria, the Federal Government was pursuing significant economic reforms that required support from international partners, including Germany, the World Bank, the International Monetary Fund and the European Union.
The minister said Germany’s support has contributed to Nigeria’s progress in its reform efforts, adding that the country remains grateful for the cooperation and assistance it has received from its development partners.
He also acknowledged Germany’s role in facilitating high-level engagements between the two countries, particularly in trade, investment and energy cooperation, noting that discussions during the Nigerian President’s visit to Germany advanced talks on key energy agreements.
Senator Bagudu further commended Germany’s commitment to multilateral cooperation and international engagement, emphasising the importance of sustained partnerships to address evolving global economic and political challenges.
He noted that Nigeria and Germany had built a strong foundation for bilateral cooperation over the years, with significant opportunities to expand their partnership in areas that support economic growth and development.
The minister disclosed that discussions had covered cooperation involving €25 million and €300 million in export credit guarantees, identifying these as important areas for continued engagement as Nigeria seeks to expand investment opportunities and strengthen its capacity to utilise available resources effectively.
According to him, Nigeria’s reform efforts have created an opportunity to place greater emphasis on attracting investment, strengthening productive capacity, and translating international partnerships into tangible economic outcomes.
He assured the German ambassador that the ministry was prepared to work closely with the German government and its relevant institutions to deepen bilateral relations and broaden areas of mutual interest.
Earlier, Ambassador Rössel expressed appreciation for the warm reception he received, describing the relationship between Nigeria and Germany as strong and longstanding.
The ambassador, who arrived in Nigeria a few weeks ago, reaffirmed Germany’s commitment to building on the partnership’s achievements and to exploring opportunities for further cooperation.
He acknowledged that both countries were operating in an increasingly complex global environment characterised by evolving strategic, political and economic challenges.
Despite these circumstances, Ambassador Rössel expressed confidence that the longstanding relationship between Nigeria and Germany would provide a solid foundation for addressing emerging issues and sustaining mutually beneficial cooperation in the years ahead.
He also welcomed the ministry’s readiness to continue working with Germany, noting the importance of maintaining established partnerships while adapting to evolving circumstances.
In her remarks, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, congratulated Ambassador Rössel on his appointment, welcomed him to Nigeria, and expressed the ministry’s readiness to collaborate with him and with relevant German agencies.
She emphasised the importance of translating bilateral agreements and shared commitments into practical outcomes, noting that effective implementation remained critical to achieving the partnership’s objectives.
Dr Uzoka-Anite assured the ambassador that the ministry would continue to facilitate collaboration and support efforts to ensure joint initiatives progressed efficiently and delivered meaningful results.
The Permanent Secretary of the Federal Ministry of Budget and Economic Planning, Dr Deborah Odoh, also welcomed the German delegation, describing Germany as a reliable partner whose technical expertise, knowledge exchange and experience had contributed to Nigeria’s development.
She said the ministry expects the ambassador’s tenure to create further opportunities to strengthen cooperation and to advance the longstanding relationship between the two countries.
The courtesy visit reaffirmed Nigeria and Germany’s shared commitment to sustaining bilateral engagement, deepening economic cooperation, and exploring opportunities for expanded investment and development collaboration.
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DAILY ASSET Appoints Torough, Editor, Names Eze, Deputy
By Laide Akinboade, Abuja
As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.
A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.
“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.
In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.
“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.
Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.
“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.
He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.
Torough, the new Editor has had a steady rise in the Newspaper in the last five years.
A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor. He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment.
Torough has attended several journalistic workshops and trainings to properly equip himself for the task ahead.
The statement also said the Management named Eze Okechukwu as Deputy Editor.
Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and DAILY ASSET Newspaper correspondent covering the Senate, having joined the organization in 2021.
Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.
Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.
Aside from his journalistic excellence, he has a great deal of passion for sports.
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Insecurity: Northern Govs, Monarchs Seek Six-month Mining Suspension
From Ngutor Dekera, Kaduna and Aliyu Askira, Kano
Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.
The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna. The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils.The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.

