Fake Colonel Arrested Over N40m Fraud (Photo)

The Oyo State Police Command has arrested 62-year-old Babatunde Idris for parading himself as a colonel in the nigerian army and using a fake identity to defraud one Yinusa Mustapha of the sum of N40m.The state Commissioner of Police, Leye Oyebade, said Idris was arrested after a petition was filed against him.He said, "Following a petition received alleging the fraudulent activities of Idris, the command's Anti-kidnapping Squad swung into action and arrested the suspect, who until his arrest had fraudulently obtained various sums of money from his victims."Oyebade added that the suspect promised his last victim, Mustapha, that he would help him to get a certificate for oil importation since 2012, but failed to complete the deal after the money was paid into his account."The suspect forged various letterheads of the nigerian army which he issued to unsuspecting individuals and corporate organisations soliciting assistance. He also had multiple identities under fake names all bearing the status of a colonel," the commissioner added.The suspect said he collected the money from hisvictim in installments, but denied that the money was up to N40m.He said, "I collected N16m from him claiming to be a colonel in the army. I signed the form, but truly I am not a military man. One of my brothers is a general in the army. One day, he gave me a letter to help somebody, so I made a copy of it."Mustapha wanted me to help him to collect certificate of oil lifting and because I knew people who could do it, I took the money from him, but the deal failed."

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CBN Says It Can’t Reverse The Ban On ATM Card Use Abroad

The decision of Deposit Money Banks, DMBs, to place a restriction on the use of ATM cards abroad by bank customers is due to scarcity of foreign exchange, the CBN has said.The CBN said although it sympathizes with Nigerians for the sufferings they are experiencing in carrying out transactions abroad, it can't reverse the decision of DMBs and the CBN is in support of it as it would assist in reducing the pressure on the Naira.The Director, Monetary Policy Department, CBN, Mr. Moses Tule, explained that the restriction might continue until Nigeria could increase its foreign exchange earnings. He said if banks had not taken the decision to restrict the use of the ATM cards abroad, some of them would current be experiencing challenges meeting the overseas demand of their customers.May GOD help Us.. AMEN!!!

UNILORIN PRODUCES 89 FIRST CLASS GRADUATES

Prof. AbduGaniyu Ambali, the Vice-Chancellor, University of Ilorin, said on Friday that the institution had produced a total of 89 first class graduates for the 2016/2017 academic session. The Vice-Chancellor made this disclosure in Ilorin on the occasion of a handover and valedictory press conference, which signaled the commencement of the 33rd convocation ceremonies of the university. In his address entitled: “You are great”, the VC said that the university was thriving academically, going by the quality and quantity of research works embarked upon by lecturers. He gave a breakdown of the graduating students thus: 89 First Class Division, 1,932 Second Class Upper Division and 3,727 Second Class Lower Division. The VC also said that 1,309 of them graduated with Third Class Division, 117 with ordinary pass while there were two aegrotat graduating students. While handing over to Pro...

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