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Access Bank’s Herbert Wigwe, Two Others Charged For Stealing N2.6billion

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The Managing Director/Chief Executive Officer of Access Bank Plc,  Mr Herbert Wigwe is in a big mess.

The top banker and two others have been dragged to court in Ogun State for alleged stealing and fraud said to be over N2billion.

The meat of the matter is that the Special Fraud Unit (SFU) of the Nigeria Police Force, Milverton Ikoyi-Lagos, has preferred N2.6billion fraud charged against Mr. Herbert Wigwe, the Managing Director and Chief Executive Officer of Access Bank Plc, his bank and two others before an Ogun State High Court, Sagamu, on 21 counts criminal charge.

Herbert Wigwe: Access Bank, MD/CEO

The Boss gathered that Wigwe and Access Bank Plc are facing a five count charge alongside with 41 year-old Alawode Oluseye and Bayo Adesina before Justice N. I. Agbelu of Ogun state high court Sagamu.

The allegations border on conspiracy, fraudulent betrayal of trust, fraudulent conversion, stealing and false representation.

SFU in the charge marked HCS/010/19 alleged that the Access Bank boss and others, sometimes on June 2017, at the premises of Metal Africa Steel Products Limited, Kilometer 16, Ikorodu/Sagamu road, Ewe Jagun, Ogun State, conspired among themselves to have alleged to have unlawfully effected the selling of 23, 754.413 metric tonnes of Steel Billets, belonging to BMCE Bank International Plc company for N2,572, 500, billion, to Africa Steel Products Limited.

The Boss reports that Wigwe and other defendants were also alleged to have obtained the sun of N2,572,500 billion from Africa Steel Mills Limited by false representation that they were the owners of the said Steel Billets.

SFU also alleged that Wigwe and other defendants in 2017, forged Bill of Ladings number: MJINLOS150007’1A’; MJINLOS150007 ‘1B’; MJINLOS150007 ‘1C’; MJINLOS150007 ‘2A’; MJINLOS150007’2B’; MJINLOS150007 ‘2C’; MJINLOS150007 ‘2C’; MJINLOS150007 ‘2D’; MJINLOS150007 ‘2E’; MJINLOS150007 ‘2F’; MJINLOS150007 ‘2G’; MJINLOS150007 ‘2H’; MJINLOS150007 ‘2I’; MJINLOS150007 ‘2J’; MJINLOS150007 ‘2k’; MJINLOS150007’2L’ andMJINLOS150007’2M’, which they claimed were issued on January 9, 2016.

The offences according to the Police prosecutor,a Chief Superintendent of Police (CSP) E. Jackson are contrary to and punishable under Sections 518(6), 434, 383(1)(f) and 390(9), 516 and 464 and 467 of the criminal Code of Ogun State of Nigeria, 2006.

The offence is also said to have contravened Section 1(1)(a) and 1(3) of the Advance Fee Fraud and other related offences Act No. 14 of 2006.

We gathered that during their arraignment, only one of the defendants who was present in court pleaded not guilty to all the charges.

However, lawyer to the defendants, Edoka Dox Onyeke informed the court that his clients are exploring means of settling the matter with the complainant out of court.

Consequently, Mr Onyeke pleaded with the court for a short adjournment. The matter was then adjourned for report of settlement.

STATEMENT 0F OFFENCE..1st Count
Conspiracy to effect an unlawful purpose, to wit: an unlawful sale of Steel Billets property of BMCE BANK INTERNATIONAL PLC, contrary to Section 518 (6) of the Criminal Code of Ogun State of Nigeria, 2006.

PARTICULARS 0F OFFENCE ‘That you HERBERT WIGWE ‘M’, ALAWODE OLUSEYE ‘M’, BAYO ADESINA ‘M’ AND ACCESS BANK PLC on 22 day of June, 2017, at the premises at Met Africa Steel Products Limited, Km 16, IkorodulSagamu Road, Ewe Jagun, Ogun State, Within the jurisdiction of this honourable court, conspired among yourselves to effect unlawful purpose to wit: the unlawful and unauthorised sale of 754.413 metnc tonnes of Stee| Billets, property of BMCE BANK INTERNATIONAL PLC without Its permission or consent.

STATEMENT 0F OFFENCE…..2nd COUNT Fraudulent Disposal of Trust Property, contrary to Section 434 of the Criminal of Ogun State of Nigeria, 2006.

PARTICULARS OF OFFENCE That you Herbert Wigwe ‘M’, Alawode Oluseye ‘M’, Bayo Adesina, ‘M’ and access BANK PLC on 22nd day of June, 2017, at the muses d m African Steel Products Limited, Km 16, Ikorodu/Sagamu Road, Jagun, Ogun State, within the jurisdiction of this honourable court, with intent to defraud converted 23,754.413 metric tonnes of Steel Billets property of BMCE Bank International Plc, to your own use and unlawfully sold same without the authority of BMCE International Bank Plc.

STATEMENT OF 0FFENCE…3rd Count Stealing of Money, contrary to Sections 383 (1)(f) and 390 (9) of the Criminal Code of Ogun State of Nigeria, 2005. ‘

Particulars of offence: “that you Herbert Wigwe, ‘M’, Alawode Oluseye ‘M’, Bayo Adesina, and Access Bank Plc, sometimes in June, 2017, in Ogun State, within the jurisdictions of this honourable court, Unlawfully sold 23, 754.413 metric tonnes Steel Billets, property of BMCE Bank International Plc to African Steel Mills Nigeria Limited for N2,572,500,000.00 and fraudulently converted me money to your own use and benefit.

Statements of offence … 4th Count: Conspiracy to commit a felony to wit: stealing of 23,754.413 metric tonnes of Steel Billets, property of BMCE Bank International Plc, contrary to Seam 516 the Criminal Code of Ogun State, 2006.

Particulars Of Offence: “That you Herbert Wigwe, ‘M’ Alawode Oluseye ‘M’, Bayo Adesina, and Access Bank Plc, between 2016 and 2017, at Ewe Jagun, Ogun State, Within the jurisdiction of this honourable court, conspired among yourselves to sell 23,754.41 metric tonnes of Steel billets property of BMCE Bank International Plc.

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Peter Obi Weeps for Nigerian Workers, Says Minimum Wage Can no Longer Guarantee Modest Living

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A frontline presidential aspirant on the platform of the opposition African Democratic Congress (ADC), Peter Obi, has regretted that the minimum wage can no longer guarantee a most modest standard of living in Nigeria.

In a post on his X handle on Friday to mark Workers’ Day, the former Governor of Anambra State said this has happened as inflation, rising food prices, transportation costs, and economic hardship continue to erode the value of honest work.

He said no nation can truly develop beyond the strength, productivity, and wellbeing of its workforce, stressing that the progress of any society rests on the quality of its human capital, the skill of its people, and the commitment of its workers.

‘When workers suffer, the nation suffers. When workers are empowered, the nation prospers,” he noted.

The presidential candidate of the Labour Party (LP) in the 2023 general elections said a productive nation must be built on justice, fairness, and respect for labour, adding that “it is the Nigeria we must work together to achieve.”

Obi said through democratic participation, the Nigerian workers have the power to shape governance and determine the future direction of the nation.

He, therefore, urged Nigerian workers to recognise the strength they hold collectively.

“But beyond their labour, workers also possess another powerful tool, their voice and their vote.

“They owe it to themselves, their children, and future generations to support and demand leadership built on competence, character, capacity, credibility, and compassion. By refusing to reward failure, corruption, ethnic division, and bad governance, they can help build a nation where hard work is respected and rewarded with dignity.

“With the support and participation of Nigerian workers, a new Nigeria is possible,” said Obi.

He saluted workers across the world, especially Nigerian workers whose daily sacrifices continue to sustain our families, communities, institutions, and national economy in the face of severe hardship and uncertainty.

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Attorney-General Asks Court to Deregister ADC, Accord, Three Other Parties

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The Attorney-General of the Federation has urged the Federal High Court in Abuja to compel the Independent National Electoral Commission (INEC) to deregister five political parties, arguing that their continued existence violates constitutional provisions and undermines Nigeria’s electoral integrity.

In court filings, the Attorney General contended that unless the court intervenes, INEC would “continue to act in breach of its constitutional duty” by retaining parties that have failed to meet the minimum requirements prescribed by law.

The filing stressed that the right to associate as a political party is not absolute and must be exercised within constitutional limits. It further argued that it is in the interest of justice for the court to grant the reliefs sought by the plaintiffs.

The suit, marked FHC/ABJ/CS/2637/2026 and filed at the Abuja Judicial Division of the Federal High Court, lists the Incorporated Trustees of the National Forum of Former Legislators as the plaintiff.

The defendants include INEC as the first defendant and the Attorney General of the Federation as the second defendant, alongside five political parties: African Democratic Congress (ADC), Action Alliance (AA), Action Peoples Party (APP), Accord (A), and Zenith Labour Party (ZLP).

At the center of the issue in the case is whether INEC has a constitutional obligation to remove parties that fail to meet electoral performance thresholds set out in Section 225A of the 1999 Constitution (as amended) and reinforced by the Electoral Act 2022 and INEC’s own regulations.

The plaintiffs argue that the affected parties have persistently failed to satisfy the constitutional benchmarks required to retain their registration. These include winning at least 25 per cent of votes in a state during a presidential election or securing at least one elective seat at the national, state or local government level.

They contend that the parties performed poorly in the 2023 general elections and subsequent by-elections, failing to win seats across key tiers of government, yet continue to be recognised by INEC as eligible political platforms.

The plaintiffs maintain that this continued recognition is unlawful and undermines the integrity of Nigeria’s electoral system.

In the affidavit supporting the suit, the forum’s national coordinator, Igbokwe Raphael Nnanna, states that allowing parties that have not met constitutional requirements to remain on the register “is unconstitutional, illegal and a violation” of the governing legal framework.

The suit asks the court to declare that INEC is duty-bound to deregister such parties and to compel the commission to do so before preparations for the 2027 elections advance further.

Beyond declaratory reliefs, the plaintiffs are also seeking far-reaching orders that would bar the affected parties from participating in the next general elections or engaging in political activities such as campaigns, rallies and primaries. They further request injunctions restraining INEC from recognising or dealing with the parties in any official capacity unless and until they comply strictly with constitutional provisions.

Central to the plaintiffs’ argument is their interpretation of the law as imposing a mandatory duty on INEC. They argue that the use of the word “shall” in the Constitution leaves no room for discretion once a party fails to meet the stipulated thresholds.

In their written address, they rely on statutory provisions and judicial precedents to contend that electoral performance is an objective condition that must be enforced to maintain discipline, transparency, and accountability in the political system.

Tribune

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Supreme Court to Rule on ADC, PDP Leadership Crises Today

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Attention has shifted to the Supreme Court, which has fixed April 30 (today) for judgment in the leadership tussle within the African Democratic Congress (ADC).

A five-member panel led by Justice Mohammed Garba will resolve the appeal filed by the David Mark-led faction concerning the authentic leadership of the party.

Also on Thursday, the court is expected to determine the leadership dispute rocking the Peoples Democratic Party (PDP).

Two PDP factions—one led by Kabir Turaki and the other by the Minister of the Federal Capital Territory, Nyesom Wike—are laying claim to the leadership of the party.

The Supreme Court had on April 22 reserved judgment in the ADC crisis to a date to be communicated to the parties involved in the tussle.

However, on Tuesday, the ADC formally wrote to the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, pleading for the quick delivery of judgment in the leadership tussle at the national level.

The party claimed it would suffer irreparable harm if judgment in the protracted battle was not delivered within the period allowed by the Electoral Act for fielding candidates for the 2027 general elections.

It stated in part: “Without the delivery of judgment within the next three days from the date of this letter, the ADC stands the grave and irreversible risk of being excluded from participating in the 2027 general elections.

“This would disenfranchise millions of Nigerians who have subscribed to the ideals of the ADC and deny them their constitutional right to freely associate and contest elections through a political party of their choice.”

At the April 22 hearing, Jibrin Okutepa, SAN, who represented David Mark, urged the Supreme Court to allow the appeal, arguing that the apex court had earlier, on March 21, 2025, held that “no court has jurisdiction to entertain matters bordering on the internal affairs of political parties.”

During the hearing, Okutepa urged the apex court to hold that the Federal High Court in Abuja lacked jurisdiction to entertain the suit.

However, Robert Emukperu, SAN, who represented the first respondent, Nafiu Gombe, urged the court to dismiss the appeal and affirm the judgment of the lower court, which held that the suit was premature.

It will be recalled that a three-member panel of the Court of Appeal dismissed Mark’s appeal, ruling that it was premature and filed without leave of the trial court.

In the PDP matter, the first appeal, marked SC/CV/164/2026, stems from a decision of Justice Peter Lifu of the Federal High Court in Abuja, who restrained the party from proceeding with its planned convention pending the determination of a suit filed by former Jigawa State Governor Sule Lamido.

On November 14, the court issued a final order restraining the PDP from conducting its national convention.

Justice Lifu held that Lamido was “unjustly denied” the opportunity to obtain a nomination form to contest for national chairman, in violation of the PDP constitution and internal regulations.

The Court of Appeal later upheld the decision on March 9, prompting the PDP to appeal.

The second appeal, SC/CV/166/2026, was filed by the PDP, its National Working Committee (NWC), and National Executive Committee (NEC).

It arose from a judgment delivered by Justice James Omotosho, which stopped the party from holding its Ibadan national convention.

The Court of Appeal upheld that decision, agreeing that INEC should not validate the outcome of the convention.

After hearing all arguments, the Supreme Court reserved judgment, stating that the date would be communicated to the parties.

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