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Details of Zedcrest Capital MD’s case with EFCC emerge

The Economic and Financial Crimes Commission, EFCC, has grilled Michael Friday Edenya and Adedayo Amzat, Managing Director, Zedcrest Capital Limited, for alleged offences bordering on impersonation and forgery.

Edenya had allegedly delivered forged letters purportedly originating from the EFCC’s Special Control Unit against Money Laundering, SCUML, to both Access Bank Plc and Coronation Merchant Bank Plc on Friday, August 15, 2018, requesting the account opening package and statement of account of one Rotimi Williams Monye as well as that of his company, Giltedege Partners and Advisory Services Limited.

Edenya, in his statement to the EFCC, stated that the letters were given to him by the second suspect, Amzat, to deliver on behalf of the Commission to the banks.

He further confessed that he posed as an employee of the Commission when he carried out the alleged criminal act at the respective bank.

However, Amzat denied any knowledge of the said letters and investigations are ongoing.

Meanwhile, a source insisted that Edenya, former staff, should face the music for his alleged action if found culpable

“Due to data protection regulations, the banks checked with the EFCC to confirm the authenticity of the letter and found it to be a forged one. The commission thereafter tried to contact Edenya since last year and was unable to reach him”, he said.

“In fact, the commission reached out to Zedcrest Capital severally, as his previous employers, to assist with the investigation and were also unable to contact him until Monday, 11 March 2019 when he was apprehended.

“In his statement to the EFCC, Edenya claimed that he was given the letter by Amzat to deliver to the banks but this has been disputed by the MD especially as Giltedege Partners and Advisory Services is a partner organization.

“The EFCC has been unable to find any evidence confirming that the MD sanctioned the letter and Zedcrest lawyers are working with the commission to resolve the case”.

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Labour reacts to CBN ban on forex sale to importers

Comrade lssa Aremu, General Secretary, National Union of Textile, Garment and Tailoring Workers of Nigeria, (NUTGTWN) has lauded the Central Bank of Nigeria (CBN) for banning sale of Forex to importers of textile materials.

NAN reports that Aremu, also a National Executive Council member of the Nigeria Labour Congress (NLC), gave the commendation in llorin on Thursday.

The CBN had in its meeting with stakeholders in the Cotton, Textile, and Garment value chain on March 5, listed all forms of textile materials among items prohibited from foreign exchange in the official windows.

The CBN also promised financial intervention to textile manufacturers at “single digits rate, to refit, retool and upgrade their factories to enable them produce high quality textile materials for the local and export market.”

Aremu, also the Labour Party governorship candidate in Kwara in the March 9 elections, said the action of the CBN would promote growth of the textiles industries in Nigeria.

He observed that smuggling and wholesale importation of textiles had contributed to the closure of many textile industries in the country.

Aremu equated smuggling to “economic terrorism”, adding that the new initiative of the CBN governor would boost local production, create jobs and lessen pressure on forex if fully implemented.

According to him, CBN will make life difficult for smugglers and warned forex dealers in the country to desist from granting any importer of textile material access to foreign currency in the foreign exchange market.

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Nigerian government bans Boeing 737 max airplanes

The Nigerian government has banned Boeing 737 Max airplanes from flying into Nigeria’s airspace following a fatal crash in Ethiopia over the weekend.

Hadi Sirika, Minister of Sate, Aviation, disclosed this to state house correspondents at the end of the federal executive council (FEC) meeting, presided over by President Muhammadu Buhari.

Sirika said, “Regarding Boeing 737 Max 8 and Max 9, that has been in the news recently, there is no cause for alarm as there is no operator in Nigeria that is using that type of airplane.

“Regardless of the enormous safety records of this plane 737, it has caused concern in the world of aviation and you know aviation is universal, whatever affects one affects the other because aircraft will be flying in and out.

“So, we have issued directive that no operator with Boeing 737 Max 8 or Max 9 should operate into and outside our airports and this is being carried out.”

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Boeing grounds entire global fleet of MAX 737 8s and 9s after Ethiopia crash

Boeing has grounded its entire global fleet of 737 Max 8s and 9s following Sunday’s crash in Ethiopia.

In a statement, the company said “out of an abundance of caution and in order to reassure the flying public of the aircraft’s safety” it had decided to temporarily suspend its entire fleet of 371 737 MAX aircraft.

Boeing said it had taken the decision after consulting the US Federal Aviation Administration and the National Safety Board.

“We are supporting this proactive step out of an abundance of caution. Safety is a core value at Boeing for as long as we have been building airplanes and it always will be.

“There is no greater priority for our company and our industry.

“We are doing everything we can to understand the cause of the accidents in partnership with the investigators, deploy safety enhancements and help ensure this does not happen again.”

It follows Donald Trump announcing on Wednesday that the US would be barring the aircraft from its airspace.

Mr Trump said: “We are going to be issuing an emergency order of prohibition to ground all flights of the 737 MAX 8 and the 737 MAX 9 and planes associated with that line.”

The president said any Boeing currently in the air will go to its destination and then be grounded.

He said pilots and airlines have been notified, adding that the safety of the American people is of “paramount concern”.

The move follows the crash in Ethiopia last weekend in which 157 people died.

A number of countries, including the UK, had already barred the Boeing 737 Max 8 from its airspace.

But until now, the US’s Federal Aviation Administration said there was no data to show the jets are unsafe.

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