The Nation Newspaper

Author: The Nation

  • We will recover N5tr toxic debts, says Magu

    The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, yesterday said the commission will assist the Asset Management Corporation of Nigeria (AMCON) to recover N5 trillion toxic loans.

    He also called for collaboration and a re-evaluation of the modus operandi of the corporation.

    Magu spoke while receiving a delegation from AMCON, led by its Chairman, Dr Muiz Banire (SAN), and its Managing Director, Ahmed Kuru, who were on a familiarisation visit to the EFCC headquarters in Abuja, the nation’s capital.

    He said: “We are ready to work with you. We will render assistance in terms of enforcement in order to recover these loans because they are affecting the economy of the country from flourishing.

    “In order to recover these loans, there is need for inter-agency collaboration, going beyond the EFCC to the police, the court, Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) because there is need for AMCON to re-strategise and block loopholes.”

    Read Also: Help recover our stolen funds, Magu begs UK

    Banire said the total loan today stood in excess of N5 trillion.

    He added: “This is the money that belongs to all Nigerians. If N5 trillion can be injected into our economy in Nigeria, particularly infrastructure, hospitals will change, education will change, the roads we use will change and definitely everything will change positively.

    “The giant strides the EFCC has accomplished in the recent past, not just in the number of convictions, but even from the exposure and calmness in taming the extravagant lifestyle of people stealing” public funds are remarkable.

    The AMCON chairman highlighted the efforts of the corporation in debt recovery.

    He said the efforts dated back to “absorb most of the loans during the time that the banks were collapsing in order to strengthen the banks”.

    Banire said the loans then were about N3.7 trillion.

    The AMCON chairman recalled that at that time, the debtors were in excess of 12,000 people, while with the efforts of the corporation, the figure was reduced to around 7,000.

    He regretted that about 20 of the debtors owed N2 trillion.

    “There are a few owing with impunity, and taking just about 20 of them, we will be talking about people owing close to N2 trillion,” Banire added.

    The chairman called for more collaboration with the EFCC in due diligence for the processing and granting of loans.

    He said: “We believe that we must work harmoniously with the EFCC, if we want to recover these funds, particularly in areas of granting of the loan, where a lot of sharp practices are done in compliance or over-inflation of the value of the assets used as security.

    “Our conviction is that the EFCC is where the solution lies. This is where we will be able to recover the loans with lesser expenses in prosecuting cases.”

    Kuru expressed appreciation for EFCC’s support, saying the AMCON desk domiciled in the EFCC had been helpful in recovering billions of naira. “EFCC is key to the results we have so far achieved,” he said.

  • Lagos shuts 52 illegal, substandard pharmacies

    Lagos State Task Force on Counterfeit, Fake Drugs and Unwholesome Processed Foods has shut 52 pharmacies, patent medicine shops and unlicensed premises.

    They were shut for operating illegally and beyond their scope, Permanent Secretary (PS), Ministry of Health Dr. Titilayo Gonclaves said yesterday.

    The raids were carried out at Isolo, Egbeda, Ikotun, Bariga and Somolu.

    Receiving the task force’s report, Govcalves said the outlets operated without licence, engaged unqualified workers, sold unethical products and displayed expired drugs in an unconducive environment.

    “Although some of the pharmacies visited were registered, it is disheartening that quite a number of them had no qualified pharmacists on duty and displayed expired drugs for sale to the public,” Goncalves said.

    She added that they engaged in illegal clinical practices such as patient admission and setting of intravenous infusions.

    Such practice, the PS said, was unacceptable, adding that the government will enforce the law and sanction erring operators.

    Director, Pharmaceutical Services, Dr. Moyosore Adejumo, said the government would stop the dangers posed by the outlets.

  • NLC begs FG to release Sowore, 26 others

    The Nigeria Labour Congress (NLC) has urged the Federal Government to release Mr Omoyele Sowore and 26 other protesters arrested on account of the #RevolutionNow protest on Monday.

    The News Agency of Nigeria (NAN) recalls that the publisher of Sahara Reporters and presidential candidate of the African Action Congress in the February 2019 elections was arrested in the early hours of Saturday by operatives of the Department of State Services in Lagos.

    The protests held on Aug. 5 in some states of the federation, with security agencies arresting some protesters.

    While Sowore was moved to Abuja on Sunday and currently being detained in the custody of the DSS, 26 other protesters have been arraigned in a Lagos court.

    Read Also: Sowore has no right to call for #RevolutionNow – Oshiomhole

    NLC General Secretary, Dr Peter Ozo-Eson in a statement on Wednesday said the right to peaceful protests, assembly and association is fully guaranteed by the Constitution of the Federal Republic of Nigeria under sections 39 and 40.

    According to him, the NLC view the violent attack on the peaceful protesters by security forces as a total violation of their fundamental rights as guaranteed by the constitution.

    “Besides, peaceful protests against perceived anti-people government policies is one of the critical fundamental rights that expands the entrenchment and growth of democracy.

    “Sowore and other protesters were not carrying arms against the state and we therefore demand their immediate release unconditionally.” (NAN)

  • Presidency says Buhari remains best hope for Nigerian economy

    The Presidency has described as untrue the Peoples Democratic Party’s assertion that the Nigerian economy is in trouble.

    A presidential spokesman, Malam Garba Shehu, who debunked the PDP assertion in a statement in Abuja on Wednesday, lectured the party on the Buhari administration’s economic score card.

    Shehu noted that in keeping with historical trends, there was less economic activity during the electoral cycle.

    He, however, said that the economy grew by 2.35 per cent in second quarter of 2015 and 3.96 per cent in first quarter of 2015 as compared to 5.94 per cent in fourth quarter of 2014.

    He said: ”While foreign direct investment can help, it is not the only source of investment in the economy. There is also domestic investment which is either undertaken by the government or by the private sector.

    ”It is also noteworthy that capital importation into Nigeria grew by 216 per cent in the first quarter of 2019 as compared to the last quarter of 2018.”

    He further noted that the foreign portfolio investment, which is still foreign investment, was 7.14 billion dollars in the first quarter of the year.

    ”A look at business pages in newspapers shows that there is a lot of business activity going on in the country.

    ”Two stories in today’s paper point to increasing economic activity.

    Read Also: I’ll be more party conscious, Buhari promises APC

    ”First is that the profit of UACN grew in the first half of this year by 61 per cent.

    ”Second is that Business Day (pg1) states that cargo imports jumped by 21 per cent in the first half of 2019. Increasing imports is a pointer to greater economic activity and the availability of foreign exchange with which to conduct business.

    The presidential aide observed that a major constraint to business was the Apapa gridlock which a number of companies had listed as the major impediment to doing business.

    He, however, noted that this situation had been improved tremendously.

    Shehu revealed that, in his first four years, Buhari improved relations with China, the U.S. and Europe and had won their support for the administration’s development agenda.

    He also disclosed that the President had channeled unprecedented sums of money into infrastructure development, saying that capital spending had been kept at about 30 per cent of annual budgets.

    ”Construction of roads, highways, public transport and airports have sharply increased. Government is spending heavily on power.

    ”This, combined with private sector investment has grown generation capacity to 13 megawatts.

    ”All said and done, President Buhari remains the best hope for the Nigerian economy. The country needs change and this remains the person with the will and determination to deliver,” he added. (NAN)

  • Tribunal fixes Friday to hear motion on relisting petition against Sen. Ekwunife

    The National/State Assembly Election Petitions Tribunal sitting in Awka has fixed Friday for hearing of a motion seeking to relist Mr Christopher Ekweozoh’s petition against Sen. Uche Ekwunife (PDP, Anambra Central).

    Ekweozoh was the candidate of the Progressive People’s Alliance in the Feb. 23 poll for Anambra Central Senatorial District.

    His earlier petition filed on March 18 was struck out on April 18 by the tribunal but he returned to the tribunal on Wednesday for relisting of his petition.

    He assured the tribunal that he could open and close his case within four days, if the motion was granted.

    He said that the tribunal lacked the jurisdiction to strike out his petition, adding that it breached his right to fair hearing by so doing.

    Read Also: Tribunal rejects petition against lawmaker

    Ekweozoh said: “It is in the interest of justice to set aside the said order and relist the petition on the cause list to enable parties to be heard on the merit.

    “This is to ensure that the respondents will not be prejudiced with the grant of this application, considering that the tribunal is still in possession of the security for cost, valued at N400,000.”

    The petitioner had approached the tribunal, urging it to upturn the declaration of Ekwunife as the winner of the poll.

    He claimed that the election was marred by irregularities and did not comply with the Electoral Act of 2010 (as amended).

    He, therefore, urged the tribunal to nullify the election and order a fresh exercise.

    (NAN)

  • EFCC arrests 29 suspected internet fraudsters in Oyo

    Economic and Financial Crimes Commission (EFCC) Ibadan zonal office, Oyo State, on Wednesday, arrested 29 men suspected to be internet fraudsters.

    This was contained in a statement signed by the commission’s Spokesperson, Tony Orilade and made available to newsmen in Ibadan.

    The EFCC said the suspects were arrested at Akoto Estate, Elebu area in Ibadan during an early morning raid carried out by operatives of the commission.

    Read Also: EFCC secures order to freeze N9.9b in three accounts linked to Ambode’s Perm Sec

    It said the team of the commission had earlier conducted series of surveillance and worked on strings of intelligence gathered on  activities of the  suspects.

    The EFCC said preliminary investigations conducted was found to be credible, leading to the sting operation.

    Among the items recovered from the suspects were eight exotic cars, many costly phones, laptops and documents suspected to be used for their alleged illicit dealings.

    The commission said the suspects would be charged to court as soon as investigations were concluded. (NAN)

  • Okowa congratulates Alibaba on his presidential honour

    Gov. Ifeanyi Okowa of Delta on Wednesday congratulated the Doyen of Comedy in Nigeria, Atunyota Akporobomerere on his Presidential Award of Excellence at the second National Micro Small and Medium Enterprise (MSME) Awards.

    News Agency of Nigeria (NAN) recalls that the award ceremony was hosted by the Vice President, Prof. Yemi Osinbajo, at the Banquet Hall, Aso Rock Villa, Abuja.

    Okowa’s felicitation was conveyed in a statement by his Chief Press Secretary, Mr Olisa Ifeajika in Asaba.

    The governor described the comedian, popularly known as Alibaba, as a quintessential comedian whose contributions to the development of entertainment industry in Nigeria would remain indelible.

    Read Also: Okowa warns against graft

    He lauded the humour merchant for his outstanding patriotism, humility, mentorship, support for budding talents and as a good ambassador of Delta.

    “As a state, we are particularly proud of your numerous ‘firsts’ – first Nigerian comedian to perform on commercial flights, first to entertain over 40 heads of governments, first comedian to ring the closing bell of the Nigerian Stock Exchange.

    “You are also first comedian on CNN, BBC and Al Jazeera, first to be inaugurated into the Johnnie Walker Hall of fame and first to stage a 6-hour stand-up comedy performance, among many other laudable accomplishments,” Okowa said.

    He thanked President Muhammadu Buhari for finding an eminent son of Delta, AliBaba, worthy of the honour.

    (NAN)

  • Umahi inaugurates new cabinet, 12 commissioners retain portfolios

    Ebonyi Gov. Dave Umahi on Wednesday inaugurated a large cabinet with 12 out of 15 re-appointed commissioners retaining their portfolios.

    Umahi assigned the offices while swearing-in 26 commissioners, 18 members of the Local Government Area (LGA) Advisory Committee and 13 Coordinators out of the 64 Development Centers of the state.

    The commissioner who retained their portfolios include: Mrs. Rebecca Ogbuewu (Women Affairs/Social Development); Chief Moses Ogodo-Ali (Agriculture/ Natural Resources); Mr. Emmanuel Nwobo (Special Projects); and Mr Uchenna Orji (Human Capital Development and Monitoring).

    Mr Charlse Akpuenika (Youth Development and Sports); Mrs Elizabeth Ogbaga (Culture and Tourism); Mr Cletus Ofoke (Attorney General/ Commissioner for Justice); Sunday Inyima (Housing/ Urban Development); and Dr Daniel Umezurike (Health) also retained their portfolios.

    The others are: Dr Sunday Nwangele (Grants/ Donor Agencies) and Chief Samuel Okoronkwo (Local Government and Chieftaincy matters.

    Read Also: Umahi suspends teachers’ postings in Ebonyi

    Mr. Emmanuel Uguru, former Commissioner for Power presently oversees the ministry of Environment while Mr. Fidelis Nweze, former Commissioner for Works and Transport is now the commissioner for Infrastructural Development and Concession.

    Mrs. Uchechi Okah, former Commissioner for Project Monitoring is the Commissioner for Water Resources while Chief Donatus Njoku former Commissioner for Environment oversees the Commerce and Industry ministry.

    The newly appointed Commissioners include: Mr. Stanley Okoro-Emegha (Border, Peace and Security); Mr. Jonah Egba (Solid Minerals); Mr. Kenneth Uhuo (Information and Orientation); Dr Stephen Odoh (Education); and Dr Joseph Ekuma Nkama (Investment and Abuja Liaison Office).

    The rest are Mr Uche Okah (Water Resources); Chinwe Okah (Budget/ Planning); Prof. Ogbonnaya Chukwu (Finance and Economic Development); Mrs Oluchuwu Ukie-Ezeali (Project Monitoring); and Moses Oshibe (Lands and Survey).

    The governor said he expected a ‘robust engagement’ from the appointees in order to assist the people and robustly develop the state.

    “This is not a form of patronage but a sign that the state is in a hurry to deploy available talents to check the national and global economic challenges.

    “We are using the 13 coordinators to ‘test waters’ as they are supposed to be in charge of primary, secondary schools and primary health centres within their development centres,” he said.

    He charged the appointees to use their capacities to generate money for the state because there were lots of loose funds to be accessed.

    Mr Cletus Ofoke, Attorney General and Commissioner for Justice, commended the governor for ensuring adequate geographical spread in the appointments as captured in section 14, subsection 4 of the 1999 constitution as amended.

    “The appointees have been duly cleared by the state House of Assembly and are expected to bring their knowledge and experience to bear in the overall development of the state,” he said.

    Chief Solomon Okoronkwo, Commissioner for Local Government and Chieftaincy Matters, who spoke on behalf of the appointees, thanked the government for appointing them and pledged to justify the confidence reposed in them. (NAN)

  • El-Zakzaky: Kaduna Govt. appeals ruling

    The Kaduna State Government said it respects the court’s ruling granting permission to Islamic Movement of Nigeria leader, lbrahim El-Zakzaky to travel to India for treatment.

    The government, however, said it would lodge an appeal against the ruling.

    Mr Samuel Aruwan, Commissioner, Internal Security and Home Affairs said in a statement in Kaduna on Wednesday.

    “An appeal will be lodged on the matter, but a stay of execution will not be sought as the state government believes that a person may choose to travel abroad for any medical condition at his own cost.”

    He said the government respects the right of anyone to seek treatment anywhere in the world, “even for malaria or common cold, so long as they are paying for it.

    “But in the case of persons facing trial for serious offences, necessary safeguards are required to ensure that such persons do not become fugitives from justice or frustrate trial by claiming asylum or the status of political prisoner in the host country.”

    According to him, in compliance with the court ruling, the state government has filed at the Kaduna High Court, terms for strict supervision of the medical leave granted El-Zakzaky.

    Read Also: El-Zakzaky, wife released to travel for medicare

    Under the terms, the state government wants the Ministry of Foreign Affairs to confirm the appointments of the applicants with the Medanta Hospital, India.

    It also asked the ministry to undertake all necessary diplomatic arrangements and protocols to ensure compliance with the conditions of the medical leave.

    The statement also said each of the applicants should be made to make an undertaking to return to Nigeria to continue their trial as soon as they are discharged from the hospital.

    The government also wants El-Zakzaky and his wife, Zeenat, to be responsible for the cost of their travel, treatment and living expenses while on their medical leave.

    “Each of the defendants/applicants shall produce two prominent and reliable persons as sureties, one being a first class chief or emir of national repute and the other a prominent person within Kaduna State, who shall undertake to produce the defendants whenever they are needed.

    “The sureties must also produce evidence of landed property within Kaduna State.

    “The Federal Government of Nigeria shall obtain from the Government of India an irrevocable guarantee that it will not entertain any application by the defendants/applicants.

    “Or any third party seeking asylum under any guise or conferring the status of political prisoners or any other status aside from being medical patients on the defendants/applicants and shall also restrain the defendants/applicants from any act inimical to the corporate existence of Nigeria.”

    News Agency of Nigeria recalls that a Kaduna High Court, on Aug. 5, granted El-Zakzaky and his wife, leave to travel out of Nigeria for urgent medical treatment at Medanta Hospital, India.

    (NAN)

  • Court freezes Bauchi’s account

    Federal High Court in Abuja as ordered the freezing of an account owned by the Bauchi State Government in First City Monument Bank (FCMB).

    The account, with number: 0998552074, with a balance of about N11,500,000,000, is to be frozen pending the conclusion of an ongoing investigation by the Economic and Financial Crimes (EFCC).

    Justice Taiwo Taiwo gave the order yesterday after lawyer to the EFCC, Abu-Bakr Aliyu, moved an ex-parte application he filed to that effect.

    Justice Taiwo ordered the EFCC to, within 21 days, notify the respondents – the Bauchi State Government and the FCMB – about the court’s decision.

    The judge adjourned further hearing until September 3, 2019.

    The EFCC stated in the suit that it was investigating a money laundering case, in which the account featured prominently.

    Read Also: EFCC raids ex-governor’s residence, uncovers 21 exotic vehicles

    It claimed that the states immediate past government was involved in money laundering for which it deployed the account.

    The EFCC stated that it needed to have the account frozen to preserve the funds being held in it.

    An official of the EFCC, Jakub Sani, stated in a supporting affidavit that “it is a fact that between the 24th and 28th day of May, 2019, the applicant received intelligence that the then outgoing government at Bauchi State initiated a process at overdrawing to launder the sum of N19,897,809,334.08 property of Bauchi State Government.

    “The bank account, subject matter of the intelligence, is the Bauchi State Government Operational Account number: 0998552074 domiciled at First City Monument Bunk.

    “The actual amount in the said bank account is N11,500,000 000 00 which was paid to the Bauchi State Government by the Federal Government of Nigeria via the Central Bank.

    “The process of laundering employed by the suspects includes the issuance of mandates and cheques rose to the First City Monument Bank (FCMB) for the payments of non-executed contracts and fictitious claims to individuals and contractors.

    “The Bauchi State Accountant General is one at the signatory that clears the said cheques and mandates for the said suspicious payments and still remains a signatory to the said account under investigation.

    “This honourable court has the jurisdiction to grant this order and it is in the best interest of justice to grant this application.”