The robber was said to be one of the members of the gang that killed four members of vigilance group during operation in Ifo community, last weekend.
The state Police Public Relations Officer, PPRO, Muyiwa Adejobi, who disclosed this also said three suspected robbers were killed during a gun battle around Oko-Bale, Ilogbo also in the town.
Vanguard gathered that the robber had sought refuge in the church after he allegedly escaped from Police arrest with bullet wounds before he met his waterloo.
About 20 armed robbers had on Saturday killed five members of the vigilante service during a robbery operation in Ifo area before the police chased them away.
While explaining how the suspected robber was arrested, the PPRO said that his men acted on a tip-off that led to the arrest of the suspect while taking treatments of his injured right leg in a church
in Ota area of the state.
Adejobi said; “ The suspect had with other members of the gang escaped with bullets wounds from superior fire power of the police during the said operation.
“It would be recalled that the command had placed a manhunt on the wounded fleeing robbers and particularly seeking information from members of the public on their whereabouts.
“The robber, who was arrested in a church in Ota, after a tip-off, sustained bullet injury on his right leg during the robbery operation in Ifo.
“His arrest has led to arrest of additional three members of the gang including an herbalist as well as an armourer, “ he said.
While commenting on the three robbers killed, the PPRO said that the robbers had earlier robbed and attacked officials of vigilante services in the area before the encounter with police.
According to him, items recovered from the robbers included a one made in Ghana triple
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Lagos Speaker, PA re-arraigned for alleged money laundering
LAGOS — Speaker of Lagos State House of Assembly, Adeyemi Ikuforiji and his personal assistant, Oyebode Atoyebi, were yesterday, re-arraigned before a Federal High Court, Lagos for alleged money laundering.The accused were re-arraigned by the Economic and Financial Crimes Commission, EFCC, before Justice Ibrahim Buba, on an amended 54-count charge.
They, however, pleaded not guilty to all counts.
After their re-arraignment, the prosecutor, Mr, Godwin Obla, informed the court of his readiness to proceed with trial.
Counsel to the accused, Mr. Tayo Oyetibo, SAN, immediately urged the court to allow the accused continue with the earlier bail granted by the former trial Judge, Justice Okechukwu Okeke.
He told the court that the accused was granted bail on self- recognition and that the court should uphold same.
Counsel to the Atoyebi, Mr. Tunde Akinrimisi also aligned himself with the submissions of Oyetibo, noting that his client was also admitted to bail by the former judge, with the clerk of Lagos State House of Assembly standing surety.
He also urged the court to rule in line with the earlier bail.
The application was not opposed by the prosecutor, who urged the court to exercise its discretion judiciously.
Ruling on the bail application, Justice Buba said he was not bound by the decision of his retired learned brother.
He said: “The case is beginning afresh before this honourable court, and so, I have the absolute discretion on the issue of bail. The accused is admitted to bail in the sum of 1 billion each with two sureties in the sum of N500 million each. The accused will be remanded in prison custody after 48 hours if they fail to perfect their bail conditions.”
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CBN sells $500m to stabilise Naira
Central Bank of Nigeria, CBN, yesterday sold $500 million at the bi-weekly foreign exchange auction to forestall depreciation of the naira.The amount sold represents 66 percent increase when compared to $300 million sold per previous foreign exchange auctions. The increase represents a strong signal from the apex bank about its determination to stabilise the naira.
However, despite this increase, the naira depreciated by 10 kobo at the inter-bank foreign exchange market yesterday.
From N159 per dollar, the interbank exchange rate rose slightly to N159.10 per dollar. But at the official market, the naira remained stable, as the official exchange rate remained N155.75 per dollar.
According to the result of the bi-weekly Wholesale Dutch Auction System, WDAS, CBN offered $500 million, and sold millions of dollars to 21 banks.
“It is a demonstration of capacity and capability to meet foreign exchange demand on the part of the CBN,” said Wale Abe, Executive Secretary, Financial Market Dealers Association of Nigeria, FMDA.
He said this would help to eliminate speculation against the naira in the foreign exchange market.
Abe said: “CBN perceived there was a shortfall in supply, which increased demand pressure, hence to reduce this pressure and forestall speculation, CBN decided to intervene to ensure that all outstanding genuine demand is met.
“With this, there is no reason for anybody to speculate about the ability of CBN to meet demand.”
Due to increasing foreign exchange demand, the naira has depreciated by N2.53 at the interbank foreign exchange market this year. From N156.67, the interbank exchange rate rose to N159.1 per dollar.
This is despite increased foreign exchange sales from CBN. From $250 million per auction, CBN had earlier in the year increased foreign exchange sale to $300 million per auction.
But this was inadequate to meet increasing demand owing to huge foreign portfolio investment outflow and declining revenue from oil.
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