N3.2bn fraud: EFCC re-araigns ex-governor Kalu with two others.

O U Kalu

The Economic and Financial Crimes Commission has re-arraigned a former governor of Abia, Orji Kalu and two others on a 34-count amended charge bordering on fraud.

Kalu, his company, Slok Nigeria Limited and his former Commissioner for Finance, Jones Udeogo, were re-arraigned before Justice Anwuri Chikere of the Federal High Court, Abuja on Tuesday.

The defendants’ plea that the court should await the pending appeal by Slok before the Supreme Court failed.

Chikere had refused the defendants’ objection to their arraignment and ordered that the charge be read to them.

Kalu and others were, in the amended charge, accused of diverting about N3.2 billion from the Abia government’s treasury during Kalu’s tenure as governor.

They all pleaded not guilty to the charges and Chikere allowed them on bail on the terms attached to the bail granted them on April 30, 2008.

They had, eight years earlier been arraigned before Justice Adamu Bello, who is now retired.

The court adjourned the case till Dec. 6 for commencement of trial.

MIKEL OBI'S MANSION: ASOKORO....

Check out Mikel at the left foot of the house in Chelsea attire!

The house is a concrete built edifice; cement cast from the foundation to the top without bricks laying. Such kind of a house implies bullet proof architectural design. As it is, you can be sure of it as a western world mediterrano-style-mansion on the Nigerian landscape. Feel free and assume....

With annual salary of approximately $6million(N1.14bn) outside revenue from endorsement and commercials, you would be plunged into what is left of such accruals than how to marshal it's spending.

KEEP YOUR HOPES FLYING: its about a few steps closer to tackling RECESION as FG is to receive over $1.8Billion from AFDB.

Dr. Akinwunmi Adesina and President Buhari

The Federal Government is to receive funds in excess of $1.8 Billion from the African Development Bank to help tackle recession.

President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, made this known in Abuja on Monday.

Dr. Adesina in Abuja announced different economic stimulus packages amounting to billions of dollars to help address the nation’s economic crisis.