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Exposed: Why Wema Bank MD was Detained by EFCC

Sadly,An allegation of money laundering and fraud is currently trailing the leadership Of Wema Bank.

Only recently, the financial institution was indicted in an alleged money laundering case involving Dana Air.

Barely days after that, another case of money laundering is trailing the bank with its Managing Director (MD), Ademola Adebise allegedly in the forefront of the allegation.

At a time when the government of President Muhammadu Buhari is fighting curruption headlong and committing to the exradiction of the 80-man list of wire fraudsters released by the FBI, Adebise and some of his top management staffs have been alleged of leading a money laundering ring.

The current case could be likened to a scene from a mafia movie, as Adebise is said to have allegedly threw all caution to the wind in a fraud allegedly estimated to be in the tune of N1bn.

Reports in the media detailed how the Wema Bank MD smartly laundered the said amount using the account of an innocent and unconsenting customers.

How then could this be explained, what could be reaponsible for this unprofessional action? Could it be greed or a lack of contentment?

Whatever the case might be, the fact remains that Adebise and his team  are currently guests of the EFCC for paying N1bn into the account of an innocent and unsuspecting customer of the bank.

The scam it has been widely reported is part of a grand plan to dispose the owners of a prestigious and popular hospitality and entertainment facility located in Maryland which is currently under the receivership of Kunle Ogunba (SAN) and subject of litigation.

How on earth would a man who hardly could deposit N300,000.00 in his account suddenly be credited a sum of 1Billion Naira without an alert or any form of notice.

This prompted the anti-graft agency to detain both Ademola Adebise the MD of Wema Bank Plc and other top management staff, suspecting that they played a very huge role in the illegal financial transaction in a ploy to oust the owners of the four-star hospitality and entertainment facility, with a bid to acquiring it for themselves.

While investigation is still on, if the allegation is proven, Adebise and others involved in the alleged scam will definitely have their day in the court of law of competent jurisdictionj and might spend time in jail if found guilty.

Interestingly, this development is coming barely days after the Federal Bureau of Investigation (FBI) in a press statement released in Los Angeles, California by US attorney, Nick Hanna announced it has arrested, “many Nigerians”, in an ongoing investigation related to fraud cases.

According to Hanna, the fraud cases involved suspects colluding with federal and state agents, to dupe unsuspecting victims of their money.

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“Help!GLO,Airtel,9Mobile Stole My song, Threatening To Kill Me”- Okiki Bright Alleges

A promising Nigerian Hip-Hop musician, Raji Mutiu, has accused telecommunication giants, Airtel, GLO and 9Mobile of robbing him of his hit song which he had hoped would launch him into musical success.

According to Mutiu, who is popularly known as ‘Okiki Bright’, the three top telecoms company, without contacting him as the copyright owner of the song, had listed the song titled ‘Gbagbe B’o Shey Shele’ (roughly meaning ‘Forget How It Happened’ in Yoruba) as one of their caller tunes.

Okiki Bright told The Status that when his attention was drawn to the infringement, he approached the telecoms companies via a written petition from his lawyer.

He explains;

“I asked my lawyer to write them. When we wrote them, they explained that they thought Oritsefemi owns the song. I then told them that the song is owned by me and I only paid Oritsefemi to feature in the song. Despite my explanation, they neither cared to delist the song from their caller tunes library nor opened a negotiation with me how royalty would be paid. So, I dragged them to court and the case has been at the Federal High Court Ikoyi since 2017. I sued them for N404m (four hundred and four million naira) because I spent a lot recording the song and I didn’t owe those who I featured a dime.”

What, however, shocked Okiki, according to his statement to The Status was when Oritsefemi reportedly called him personally and told him to drop his suit against the telecoms companies, and rather than giving him any idea how he could make the telecoms companies to start paying him for his sweat, he claimed, Oritsefemi asked that the two of them should do another music collaboration.

“I was shocked when Oristefemi called me to forget the case and let us do another song together. I told him no because I didn’t understand what was going on. For God’s sake, this is my sweat,” said Okiki who revealed that based on the issue, his record label, DB Entertainment, terminated his contract with the company believing he knew how the song got on the caller tune lists of the accused telecom companies.

The young musician also alleged that some persons he suspected were from the telecom companies had warned him on phone to either drop the court case or have himself killed. As a result, Okiki said he stopped going for regular shows that fetch him money to feed his family.

“When they threatened to kill me on phone, I stopped going out for shows. And as a result, I lost everything and I’m dead broke now. I’m now almost begging to feed as my children have been withdrawn from school when I couldn’t pay their tuition fees.

I’m begging Nigerians to help me beg these telecom companies to pay me for my sweat. I’m not begging for money from them. They stole my song and hold on to it and they have frustrated the court case already because the judges were changed at every hearing day until I had no money left to pursue the case.”

The musician, therefore, wants good-spirited Nigerians to intervene on his behalf and compel the telecom companies and those who may have anything to do with his travail to pay him for his intellectual property.

However, in a reaction to The Status story, a Lagos based journalist and music writer, Tijani Adegbola popularly known as TJ, said Okiki’s claims were false.

According to TJ, who said he was privy to the matter, another fellow journalist, Kunle, who at the time was managing Okiki had introduced him to a duet with Oritsefemi and not the other way round. But it turned out that the musician saw an opportunity to play smart and feather his own nest, hence the parting of way with the manager.

“The story is not true. All lies. Kunle brought him (Okiki) to do a song with Oritsefemi for free. Tell him to bring the receipt Oritsefemi gave him for the song. Kunle dumped him when he wanted to scam him,” TJ declares to The Status.

-Ademola Alade

@thestatus

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DANGOTE HOSTS 2019 WOMEN CORPORATE DIRECTORS CONFERENCE

L-R: Group Executive Director, Dangote Industries Limited, Halima Aliko Dangote; Wife of former British Prime Minister, Cherie Blair (Guest Speaker); and Former Prime Minister of Ethiopia, Hailemariam Desalegn (Guest Speaker) at the 2019 Women Corporate Directors Lecture sponsor by Aliko Dangote Foundation, theme “The courage to Lead; Inspiring Others, Overcoming Challenges and Achieving Success, in Lagos on Thursday, April 25, 2019

L-R: Group Executive Director, Dangote Industries Limited, Halima Aliko Dangote; Wife of former British Prime Minister, Cherie Blair (Guest Speaker); Former Prime Minister of Ethiopia, Hailemariam Desalegn (Guest Speaker); and President/CE, Dangote Industries Limited, Aliko Dangote, at the 2019 Women Corporate Directors Lecture sponsor by Aliko Dangote Foundation, theme “The courage to Lead; Inspiring Others, Overcoming Challenges and Achieving Success, in Lagos on Thursday, April 25, 2019