Madrid (Spain) - The Federal Bureau of Investigation (FBI) working with the Spanish police, have arrested 87 Nigerians suspected of Advanced Fee Fraud aka 419.

The 419 suspects were accused of defrauding at least 1,500 people in a postal and internet lottery scam. The Spanish police said millions of euros were taken from the victims, most of them in the United States and European Union.

Those targeted were wrongly told they had won a lottery and asked to send a payment before prize money could sent.

Thousands of letters and e-mails, most in ungrammatical English, were sent out to prospective victims every day, police said.

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Abuja - Senator Nuhu Aliyu has expressed his resolve to stop further comments on his allegations concerning 419ers, in both the nation’s upper and lower legislative houses.

Aliyu, who spoke in a brief interview with our correspondent at Kontagora, Niger State on Saturday, stated that his resolve not to comment further on the matter was sequel to the fact that the issue had already been put before the Ethics and Privileges Committee of the upper legislative House.

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Abuja - SENATOR Nuhu Aliyu, a retired Deputy Inspector-General of Police, stunned his colleagues yesterday when he declared on the floor of the Senate that the National Assembly had, as some of its members, fraudsters.

He said he even had in his possession a list of such legislators he investigated for Advanced Fee Fraud (a.k.a 419) while he was in the police.

The Senate President, David Mark, however, stopped him from going further, saying the matter had been referred to the Committee on Ethics, Privileges and Public Petitions.

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An article titled “Banks and E-business challenge in 2008″, highlighting the challenges associated with optimizing the gains of recent market capitalization by banks in Nigeria, is a must-read for everyone especially for current and/or potential investors of shares/stocks from Nigeria Banks.

The article published by the Vanguard online and written by Tim Akano, amongst other things pointed out:

• that banks now have easy and faster ability to raise funds through public offers and other market capitalization strategies
• Of the top 100 companies in Nigeria currently, 14 of the 20 biggest, fastest growing, and most profitable companies are banks

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Former President Olusegun Obasanjo’s daughter, Senator Iyabo Obasanjo-Bello, has denied ever representing herself as Mrs. Damilola Akinlawon, with respect to the M. Schneider Energy N3.5million contract scam in the power sector.

She made the denail through her legal counsel, in a paid press release. Senator Obasanjo-Bello’s counsel, Prof. Abiodun Adesanya (SAN), pointed out that “the documents she signed with M. Schneider Energy (Nigeria) Limited being the pre-incorporation agreement comprised (i) the Joint Venture Agreement (ii) the Exclusive Project Promotion Agreement and (iii) the Local Partnership Agreement in each as a representative of her company, Akiya (Nig) Limited, which itself is a legal abstraction.
“In the relevant places for the signature of Akiya (Nigeria) Limited, she signed thus ‘IOB’ which is an abbreviation of the words Iyabo Obasanjo Bello. ‘IOB’ cannot by any stretch of imagination mean or be taken to mean Damilola Akinlawon.”

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