Daily Times acquisition: Court orders IGP to produce Anosikes
An Ikeja High Court on Wednesday ordered the Inspector-General of Police, Hafiz Ringim, to produce before it Messrs Fidelis Anosike and Noel Anosike, owners of Daily Times Ltd.
Justice Habeeb Abiru gave the order after the accused failed to appear in court after their arraignment.
The Anosikes, Directors of Folio Communications Ltd., are facing a 40-count charge of stealing and fraudulent acquisition of property of Daily Times, valued at N1.7 billion.
They are also facing a 21-count charge of conspiring to siphon several billions of naira from the coffers of the defunct newspaper.
The Bureau of Public Enterprises had in 2004 sold the Federal Government’s shareholding in the Daily Times to Folio Communications as the company's new core investor.
According to fresh charges filed before the court, the Anosikes and their company, Folio Communications, are alleged to have also made false representation to the BPE to acquire the newspaper.
The prosecutor, Akin Akintinwe, alleged that they had fraudulently misled the BPE that they had means to acquire majority shares of Daily Times.
He said the accused mortgaged the assets of the newspaper and sold some of the property to acquire the shares.
Akintinwe also alleged that the accused stole N500 million being proceeds of the sale of the newspaper’s 60 per cent stake in Naira properties Ltd., owners of Nigeria Stock Exchange building, Lagos.
In addition, he said the Anosikes also fraudulently collected over N190 million as rents of various property, belonging to the company on lease.
The offences, he said, contravened Sections 8, 390 (7) and 516 of the Criminal Code, Laws of Lagos State.
An Ikeja High Court on Wednesday ordered the Inspector-General of Police, Hafiz Ringim, to produce before it Messrs Fidelis Anosike and Noel Anosike, owners of Daily Times Ltd.
Justice Habeeb Abiru gave the order after the accused failed to appear in court after their arraignment.
The Anosikes, Directors of Folio Communications Ltd., are facing a 40-count charge of stealing and fraudulent acquisition of property of Daily Times, valued at N1.7 billion.
They are also facing a 21-count charge of conspiring to siphon several billions of naira from the coffers of the defunct newspaper.
The Bureau of Public Enterprises had in 2004 sold the Federal Government’s shareholding in the Daily Times to Folio Communications as the company's new core investor.
According to fresh charges filed before the court, the Anosikes and their company, Folio Communications, are alleged to have also made false representation to the BPE to acquire the newspaper.
The prosecutor, Akin Akintinwe, alleged that they had fraudulently misled the BPE that they had means to acquire majority shares of Daily Times.
He said the accused mortgaged the assets of the newspaper and sold some of the property to acquire the shares.
Akintinwe also alleged that the accused stole N500 million being proceeds of the sale of the newspaper’s 60 per cent stake in Naira properties Ltd., owners of Nigeria Stock Exchange building, Lagos.
In addition, he said the Anosikes also fraudulently collected over N190 million as rents of various property, belonging to the company on lease.
The offences, he said, contravened Sections 8, 390 (7) and 516 of the Criminal Code, Laws of Lagos State.
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