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Nigeria: Court remands Jarret Tenebe in prison for Oil Fraud.

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On Monday, the Economic and Financial Crimes Commission, EFCC arraigned one Jarret Tenebe and his company, Fenix Impex Nigeria Limited, before Justice A. S. Umar of the Federal Capital Territory High Court sitting in Maitama on a two-count charge of forgery.

It was alleged that sometime in 2010 in Abuja, the accused person fraudulently forged a State House letter, signed in the name of Chief Mike A. Oghiadomhe, former Chief of Staff to the President of Federal Republic of Nigeria, requesting for approval for one year retainership service for evacuation of seized crude oil, with intent to defraud.

The offence is punishable under Section 364 of the Penal Code Law. Count two of the charge reads:

“That you, Jarret Tenebe ‘M’ and Fenix Imprex Nigeria Limited on or about 13th September, 2010 at Abuja which is within the jurisdiction of this Honourable Court dishonestly used as a genuine forged STATE HOUSE Letter Reference: SH/COS/17/A/T CAPTIONED “REQUEST FOR APPROVAL FOR ONE YEAR RETAINERSHIP SERVICES FOR EVACUATION OF SIEZED CRUDE OIL” which you did signed in the name of one Chief Mike A. Oghiadomhe, the former Chief of Staff to the President of the Federal Republic of Nigeria, and presented to the Honourable Minister of Defence, knowing the said letter to be forged when you presented it, you thereby committed an offence contrary to Section 366 of the Penal Code Lawand punishable under Section 364 of the Penal Code Law”.

The defendant pleaded not guilty to the charge. Upon his plea, counsel to the EFCC, Rimamsomte Ezekiel asked the court to fix a date for trial and to remand the accused person in prison custody pending trial.

Tenebe’s counsel, Zakkawannu Garuba, on the other hand, informed the court that, he had a pending bail application, stating the condition of health of his client and prayed he be admitted to bail. Justice Umar adjourned to December 19 for hearing of the bail application and ordered that the accused be remanded in prison custody.

24 Hours Across Africa

India dismissed 15 top officials

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Source:Reuters

India on Tuesday sacked 15 senior tax officials facing probes in corruption cases, sending across a tough message to bureaucrats taking kickbacks for facilitating tax evasion by companies, a government statement said.

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Last week, the government had dismissed 12 income tax officials who were mainly facing corruption charges.

India improved its ranking, among 180 countries, by three points to 78th on a global corruption index in 2018, according to the annual index of the Transparency International, an anti-graft watchdog.


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Egypt Ranks 2nd Amidst World Emerging Economies.

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Amidst the 21 most flexible emerging economies worldwide, Renowned Bloomberg has listed Egypt’s economy behind Philippines in the face of the global trade war.

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In its analysis, the Bloomberg agency relied on a set of criteria, most important of which being the GDP growth rate, local currency performance against international currencies, foreign exchange reserves, credit rating, and finally current account performance.

The Egyptian cabinet’s Media Center said in a statement on Monday that indicators of the Egyptian economy improved significantly during the recent period, most notably the choice of the Egyptian pound as the second-best performing currency in the world against the US dollar this year so far, according to Bloomberg.

Of these indicators, GDP growth in the third quarter of fiscal year 2018/2019 reached 5.6 percent, alongside a rise in net foreign exchange reserves by the end of May 2019 to US$44.3 billion, with the current account deficit as a percentage of the GDP declined from 6.1 percent in 2016/2017 to 2.4 percent in 2017/2018.

The statement added that the Egyptian credit rating achieved its best level since 2011 after the agencies of Moody’s, Fitch and Standard & Poor’s upgraded Egypt’s credit rating.

-Egyptian Independent


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