News
US, Iran Release Prisoners In $6bn Swap Deal
The United States and Iran on Monday swapped five prisoners each in one of the arch-foes’ first deals in years as Tehran gained access to $6 billion in frozen funds.
The five Americans freed by Iran, including one held for eight years, flew out of Tehran in a Qatari jet, hours after the unblocked funds were deposited in accounts also managed by Qatar.
The freed prisoners walked in the setting sun on the tarmac and within hours a separate US government plane shuttled them to Washington, where some will undergo medical check-ups.
The White House said Biden held an “emotional call” with families of the released prisoners, one of whom praised the president for taking the “incredibly difficult decisions” that freed them.
“Thank you, President Biden, for ultimately putting the lives of American citizens above politics,” Siamak Namazi, a businessman held since 2015, said in a statement.
Secretary of State Antony Blinken insisted the Biden administration had “no higher priority” than freeing US citizens.
“It’s very good to be able to say that our fellow citizens are free,” Blinken told reporters in New York, where he and Biden are taking part in UN meetings.
Two of the Iranian detainees returned to Tehran after transiting Doha, Iranian official media said. The other three released by the United States have opted to remain there or in a third country.
Following quiet discussions led in part by Qatar, the two countries completed the exchange after the transfer of $6 billion in funds, frozen by US ally South Korea.
The Biden administration has rejected criticism at home that it was paying “ransom,” insisting the money will be used only for humanitarian purposes, with a threat to re-freeze the funds if not.
But Iran has insisted it has full access.
The money “cruelly blocked until now and currently in the possession of the Islamic republic belongs to the people (of Iran) and we will use them to meet the people’s needs,” President Ebrahim Raisi said in New York.
Political Risks For Biden
Biden’s Republican rivals have roundly denounced the deal. Republican Senator Mitt Romney said it would lead to “kidnappings”.
“The idea of basically paying to release, in this effect, a hostage is a terrible idea,” he said.
Mindful of political risks, Biden in a statement said he would “continue to impose costs” on Iran.
Biden did not mention that he granted clemency to five Iranians. A US official said that all were convicted or charged with non-violent crimes, with one already set to be released soon.
Iran had generated the revenue through oil sales. South Korea froze the funds after Biden’s Republican predecessor Donald Trump withdrew from a landmark nuclear accord and imposed unilateral US sanctions on buying oil from Iran.
Iran’s central bank governor, Mohammadreza Farzin, said Tehran would seek damages from South Korea both for the delay and the reduction in value during the wait.
The five Americans of Iranian descent — all considered Iranian nationals by Tehran, which rejects dual nationality — were released to house arrest when the deal was agreed last month.
Besides Namazi, they include wildlife conservationist Morad Tahbaz, venture capitalist Emad Sharqi and two others who wished to remain anonymous. All were accused of spying or other crimes that they strongly reject.
A US official said that two more US citizens flew out of Tehran — Namazi’s mother and Sharqi’s wife, who were not in prison but had not been allowed to leave.
Tense Relationship
According to Tehran, the freed Iranians include Reza Sarhangpour and Kambiz Attar Kashani, both accused of violating US sanctions against Tehran.
A third prisoner, Kaveh Lotfolah Afrasiabi, was detained at his home near Boston in 2021 and charged with being an Iranian government agent, according to US officials.
The two others were said to have links to Iranian security forces.
The swap was the first deal sealed by Biden with Iran’s clerical rulers, who toppled the pro-Western shah in 1979 and are deeply hostile to the United States.
Biden took office with hopes of restoring the 2015 nuclear agreement, under which Iran promised to constrain its contested nuclear work in return for sanctions relief. But months of talks failed to produce a breakthrough.
Prospects to restore the deal sank further after protests broke out almost exactly a year ago in Iran following the death in custody of Mahsa Amini, who had been arrested for allegedly violating the country’s Islamic dress code for women.
Blinken said that the release of the prisoners “doesn’t speak to anything else in the relationship,” with the nuclear issue “a different track.”
A Federal High Court sitting in Lagos has ordered the final forfeiture of $1.4 million linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, ruling that the sum was proceeds of unlawful activities.
Justice Olayinka Faji, in his judgment on Thursday, upheld the arguments of the Economic and Financial Crimes Commission (EFCC) and directed that the funds be permanently forfeited to the Federal Government of Nigeria.
The EFCC, represented by its counsel, Bilkisu Bahari-Bala, informed the court that the sum of $1,426,175.14 was traced to the account of Donatone Limited at Titan Trust Bank (Account No. 2000000500). The anti-graft agency argued that investigations revealed the funds were linked to fraudulent financial transactions.
Investigation Uncovers Fraudulent Concealment
An affidavit deposed by EFCC investigator David Jayeoba detailed how intelligence reports led to the discovery of concealed funds in Donatone Limited’s account. The investigation allegedly uncovered a financial scheme involving Emefiele and his associates, including Donatone Limited’s directors, Uzeobo Anthony and Adebanjo Olurotimi.
According to Jayeoba, both men were instrumental in hiding and disguising the proceeds of illicit activities linked to Emefiele. The EFCC claimed that:
Anthony and Olurotimi acted as proxies for Emefiele, helping to retain and launder funds suspected to be proceeds of financial crimes.
The company, Donatone Limited, was allegedly used to collect bribes and gratification on behalf of the former CBN governor in exchange for foreign exchange (forex) approvals.
Court Grants Permanent Forfeiture
Justice Faji had earlier granted an interim forfeiture order on May 30, 2024, before delivering his final ruling on Thursday. The court’s decision now cements the Federal Government’s ownership of the confiscated funds.
The Nigerian Senate has suspended Senator Natasha Akpoti-Uduaghan for six months following allegations of misconduct and violation of the Senate’s Standing Rules.
Her suspension, announced during Thursday’s plenary session, stems from a heated dispute with Senate President Godswill Akpabio, whom she accused of sexual harassment—an allegation he has denied.
Reading the recommendations of the Senate Committee on Ethics, Privileges, and Code of Conduct, Akpabio declared:
“That the Senate do suspend Senator Natasha Akpoti-Uduaghan for six months for her total violation of the Senate Standing Rules (2023 as amended) for bringing the presiding officer and the entire Nigerian Senate to public opprobrium.”
Efforts by some senators to reduce the suspension to three months were unsuccessful as a majority vote upheld the six-month penalty. However, the Senate left room for reconsideration, stating that the suspension could be lifted or shortened if she submits a written apology.
“For the Senate to consider lifting this suspension or reducing the tenure of the suspension, Senator Natasha Akpoti-Uduaghan shall submit a written apology to the Senate before her reconsideration,” Akpabio added.
Despite the suspension, the Senate ruled that salaries for Akpoti-Uduaghan’s legislative aides should continue.
“The aides of Natasha are not Natasha,” Senator Orji Kalu argued while seeking an amendment to the sanctions. “It would be wrong for this Senate to deprive these aides of their allowances.”
Following the decision, the Kogi Central lawmaker was escorted out of the chamber by the Sergeant-At-Arms. Before exiting, she reportedly declared, “This injustice will not be sustained.”
Origins of the Controversy
The crisis began on February 20, 2025, after a seating arrangement dispute between Akpoti-Uduaghan and Akpabio. She later accused the Senate President of sexual harassment and abuse of office, submitting a petition to that effect.
However, the Senate Committee on Ethics, Privileges, and Public Petitions, led by Senator Neda Imasuen (Edo South), dismissed her claims. The committee ruled that her petition was “dead on arrival” due to procedural lapses, particularly her decision to personally sign the petition instead of securing an external endorsement.
Undeterred, Akpoti-Uduaghan re-submitted the petition, but the committee, on the same day, recommended her suspension for violating Senate rules.
Additional Sanctions
Apart from the suspension, the Senate resolved to:
Lock her office for the duration of the suspension.
Bar her from the National Assembly premises.
Halt her salary payments, although her aides will continue to receive their allowances.
A civil society organization, Global Integrity Crusade Network (GICN), has officially retracted allegations of corruption and other unwholesome activities previously made against Guaranty Trust Bank (GTB) Limited, a subsidiary of Guaranty Trust Holding Company Plc (GTCO).
In a statement released in Abuja on Tuesday, the President of GICN, Edward Omaga Esq., admitted that the Private Investigation Report (PIR) presented to the media on October 3, 2024, and submitted to regulatory agencies in Nigeria, the UK, the USA, and Ghana, was based on unverified information obtained from the internet.
Omaga acknowledged that the documents used to compile the PIR were baseless and did not accurately reflect the true state of affairs regarding GTB Limited and its management.
“In other words, the position taken by Global Integrity Crusade Network in the PIR was misguided. It has become clear that Guaranty Trust Bank Limited, its Management, and the entire GTCO brand are not under any financial or regulatory scrutiny in Nigeria or abroad as alleged,” he stated.
Addressing concerns raised in the PIR, Omaga clarified that GTB Limited operates in strict compliance with regulatory standards. He dismissed allegations of unsolicited account openings, stating that the bank adheres to due process while upholding data privacy laws.
On the issue of profit declaration for the period ending June 30, 2024, Omaga affirmed that GTB Limited had fully complied with legal requirements set by the Central Bank of Nigeria (CBN), the Financial Reporting Council of Nigeria (FRCN), and the Securities and Exchange Commission (SEC).
“It was therefore not appropriate for GICN to query the Audited Consolidated and Separate Financial Statements for the period ended June 30, 2024, released by GTCO Plc to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE),” he added.
Omaga further stated that GTB Limited’s corporate image and integrity remain intact in all foreign markets where it operates. He downplayed previous concerns about financial penalties paid in the UK and the temporary suspension of the bank’s Foreign Exchange Trading Licence in Ghana, describing them as minor regulatory matters that had long been resolved.
As part of its retraction, GICN issued a public apology to GTB Limited and its management, particularly GTCO’s Group Chief Executive Officer, Mr. Segun Julius Agbaje.
“The group wishes to sincerely apologize through this medium for misleading the public towards having any negative perception about GTB Limited. Specifically, GICN implores Mr. Segun Julius Agbaje to forgive its shortcomings and consider the group as a partner in the sustained drive of the bank to provide quality financial services across Nigeria, Africa, and the world at large,” Omaga stated.
He further disclosed that GICN had, on Thursday, February 27, 2025, formally withdrawn the PIR and all court cases related to the matter.
-
News1 week agoOyo: Orile-Igbon Stands Still as Oba Alao’s Mother Gets a Grand Farewell
-
News3 days ago
Obasa Reclaims Lagos Assembly Speakership After Dramatic Ouster
-
Politics1 week ago
Oyo Rep, Olafisoye Set For Another Strategic Empowerment Programme
-
Politics1 day ago
2027: Oyo Business Mogul, Adegbola Officially Joins APC, Vows to Mobilise Support
