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Court orders detention of MD/CEO of Galaxy Transportation, Abba Dalori over alleged diversion of $2.8m, N6.5bn investors fund

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A Federal Capital Territory, FCT High Court, Nyanya, Monday ordered the detention of Babagana Abba Dalori, Managing Director/Chief Executive Officer of Galaxy Transportation and Construction Services Limited, in the custody of the Economic and Financial Crimes Commission, EFCC for diverting $2.8million and N6.5billion of investors’ funds.

The trial judge, Justice Muawiyah gave the order while ruling on a bail application brought before the court by his counsel, Joe-Kyari Gadzama, SAN, following Dalori’s arraignment by the EFCC for alleged criminal charges.

The anti-graft spokesman, Wilson Uwujaren said this in a statement in Abuja.

Further, Uwujaren explained, “The EFCC had on September 2, 2019 arraigned Dalori and his company, before Justice Idris on three separate charges – two counts bordering on a N95,530,000 fraud; two counts bordering on obtaining N4million by false pretence; and eight counts bordering N30,908,000 fraud. Dalori is also being prosecuted by the EFCC before Justice Venchak Gaba of the FCT High Court, Kwali, Abuja for an alleged N10million fraud.

“Following his arraignment before Justice Idris, Gadazama had moved the application for his bail arguing that the case against him was civil. He also urged the court to release him on health grounds.

“The bail application was, however, vehemently opposed by counsel for the EFCC, Maryam Ahmed, who urged the court to deny the application for bail in the interest of justice.

“In arguing against the application, the EFCC had also attached 145 petitions in the counter-affidavit, stressing that the EFCC needed more time to investigate the allegations.

“Citing Section 162 of the Administration of Criminal Justice Act 2015, Justice Idris dismissed the bail application and held that the charges against Dalori, were criminal in nature and which he must answer for, noting that the charges bordered on criminal diversion, and obtaining money under false pretence, and criminal breach of trust.

“The trial judge also dismissed the argument for bail based on health grounds, noting that there were no medical documents attached in the application.

“The trial court also noted that the EFCC was able to prove beyond reasonable doubt that Dalori used investors’ money to trade in Forex, as indicated in the confessional statement by a representative of Forextime Limited (the Forex company he used for the transaction), which was attached in the EFCC’s counter-affidavit.

“Consequently, Justice Idris, ordered that he should be detained in the custody of the EFCC for the next two months, allowing time for the anti-graft agency to carry out more investigations into shady dealings linked to him, even as more petitions against Dalori continue to pour in”

In the main, Dalori was accused of running a ponzi scheme, which he allegedly used to defraud N6.5 billion from unsuspecting investors.

But Dalori from discrete investigations has denied all the allegations and, subsequently was granted bail that was reportedly suppressed by the EFCC.

Yet, the commission claimed it has received a total of 146 petitions, with 128 petitions already established against him involving the N6.5billion fraud.

Further, the EFCC investigations into the alleged shady dealings also claimed that Dalori traded with investors’ fund to the tune of $2.8million in Forex at a loss, and also allegedly gave a N500 million tip in order to secure a flopped contract.

Other allegations by the EFCC against Dalori include alleged diversion of investors funds to personal use, to acquire properties such as four filling stations, one hospital, supermarket, watermelon farm, fish and poultry farmhotel, a sachet water factory, houses and estates, and three quarries in Kano, Ogun and Abuja.

EFCC also said Dalori’s claim of investing funds in transportation through Galaxy Transportation was false saying, investigators could not trace any existing bus used for transport by his Transportation company.

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I sympathise with Nigerians over cashless policy – Emefiele

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Central Bank of Nigeria, CBN, Friday apologised to bank customers for the inconveniences the newly introduced cashless policy will cause.

Governor of Central Bank, Godwin Emefiele made the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja.

He stated this when he was asked of his reaction to the push back from Nigerians over the return of charges on deposits and withdrawals beyond certain thresholds.

He said, “I sympathize and regret inconvenience cashless policy will cause bank customers.”

Emefiele, who also spoke on the controversial judgement debt of $9.6 billion awarded to P&ID, maintained that “by the grace of God there is no threat to the reserves…..and we have received presidential approval that those indicted should be prosecuted.”

At the end of the meeting, the MPC retained interest rates at 13.5% as well as other parameters.

Despite the apology, the CBN boss maintained that the policy will progress as announced.

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Auto crash kills five, ten sustain injuries in Lagos-Ibadan expressway

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Five persons were on Friday killed in a road crash, and 10 others sustained injuries along Ibadan –Lagos Expressway when the commercial bus conveying them burst into flames.

The Ogun State Sector Commander of the Federal Road Safety Corps, FRSC, Clement Oladele said the crash occurred at about 8.49a.m. around Onigari, a town on the border of Ogun State and Oyo State.

He said the crash involved a commercial bus, which was travelling from Sokoto but stopped briefly in Ibadan to pick passengers heading towards Lagos.

The bus lost control due to excessive speed, and collided with the concrete curb in the middle of the road and burst into flames.

The commander said the crash involved 18 passengers comprising 17 male adults and one female adult.

He explained that a total of 10 male adults sustained injuries from the crash, while five of the passengers comprising four male adults and one female adult died.

Oladele said the vehicle is a white-coloured Mazda bus with registration number WWD 302CB.

He advised members of the public whose relatives travelled to contact the commission at KM27 Ibadan – Lagos Expressway at Ogunmakin or the Olabisi Onabanjo University Teaching Hospital (OOUTH) , Sagamu, where the injured victims are receiving treatment.

He said the bodies of those who died in the crash have been deposited at the hospital’s mortuary.

Oladele advised the public to drive cautiously on the Lagos – Ibadan Expressway, stressing that the Expressway is still undergoing rehabilitation.

He said the recommended speed at construction area is 50 kilometers per hour, and also reminded passengers to caution drivers driving recklessly.

He said passengers can call the commission on the toll free number 122 to report recalcitrant drivers.

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PortHarcourt: Arrested serial killer also notorious cult member – Police reveals

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Rivers State police command has arrested a suspected serial killer of young women, Mr. Gracious David West, who allegedly lures his victims to low budget hotels in Port-Harcourt, the state capital.

Police alleged also that the serial killer was also a notorious cult group called Degbam.

It was gathered that the suspect was caught on camera a few days ago leaving a hotel after strangling a yet-to-be identified lady following sex romp with her.

TIMELY POST recalls that the police had said David West’s victims since July are no fewer than eight ladies.

However, a statement on Thursday night by the Nigeria Police Public Relations Officer, ACP Frank Mba, said the alleged serial killer, who is also a cultist, was nabbed on his way to Uyo, Akwa Ibom from Port-Harcourt.

The statement reads, “The notorious serial killer, Gracious David West was today September 19, 2019, arrested by the Police in Rivers.

“The 26-year old killer from Buguma LGA of Rivers State, who is also a member of the Degbam cult group was arrested along East-West Road enroute to Uyo from Port Harcourt.

“He has since made useful statements to the Police. Investigation is on with a view to ascertaining his motives and possible accomplices.”

Mba added that the Commissioner of Police in Rivers State, CP Mustapha Dandaura, will be briefing the media on the breakthrough on Friday September 20, 2019.

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