A United States court will, on February 14  sentence social media influencer Ramon Abbas Olorunwa (aka Hushpuppi) for allegedly laundering $24 million.

Court documents unsealed in July last year indicated that Hushpuppi could face up to 20 years in prison, and will need to “pay full restitution to the victim(s).”

According to the online medium Neusroom, Hushpuppi will know his fate on Valentine’s Day, after almost two years in detention in Dubai, the United Arab Emirates and Los Angeles in the United States.

He pleaded guilty on April 20, last year and, according to Neusroom, the U.S. Department of Justice confirmed the date in an email on Tuesday, January 25, this year.

Hushpuppi, 37, is known for posting photos of his lavish lifestyle on Instagram, where he has 2.5 million followers.

Court documents filed in California said Hushpuppi’s crimes cost victims almost $24 million in total.

In one scheme, Hushpuppi attempted to steal more than $1.1 million from someone who wanted to fund a new children’s school in Qatar, the documents said.

Court records show he pleaded guilty to this charge on 20 April.

The documents state that between January 18, 2019, and June 9, 2020, Hushpuppi and others targeted multiple victims and laundered illicit funds in banks all over the world.

Hushpuppi was arrested in Dubai, where he lived, in June 2020.

In a statement, acting United States Attorney Tracy Wilkinson said Hushpuppi and others faked the financing of the school “by playing the roles of bank officials and creating a bogus website.”

They also “bribed a foreign official to keep the elaborate pretence going after the victim was tipped off.”

Hushpuppi, who she said “played a significant role” in the scam “funded his luxurious lifestyle by laundering illicit proceeds generated by con artists.”

Kristi Johnson, Acting Director of the Federal Bureau of Investigation (FBI’s) Los Angeles office, said Hushpuppi was one of the “most high-profile money launderers in the world.”

His “celebrity status and ability to make connections seeped into legitimate organisations and led to several spin-off schemes in the U.S. and abroad,” she said.

His guilty plea was “a crucial blow to this international network.”

By Bolaji Ogundele, Gbenga Omokhunu, Tony Akowe, Abuja; Elo Edremoda, Warri and AbdulGafar Alabelewe, Kaduna

• FEC okays N2.557tr supplementary budget

• Presidency: we will borrow to meet obligation

It will cost N3trillion to fund petrol subsidy this year at N270 billion per month, the Federal Government said yesterday.

This is based on the projection submitted by the  Nigerian National Petroleum Company (NNPC) Limited after the government announced a stay of action on petrol subsidy removal.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said N443 billion was budgeted for subsidy from January to June.

This will have to be increased and sourced, she added.

The minister spoke with State House Correspondents after the week’s Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.

The Federal Government on Monday put subsidy removal on hold to allow for relief measures. It said it would provide for subsidy payment beyond June.

The decision has affected the implementation of the Petroleum Industry Act (PIA).

Mrs Ahmed said FEC approved a proposed amendment to the 2022 Budget to accommodate the additional subsidy funding.

According to her, council proposed a year-long provision for subsidy, taking into consideration the prevailing economic realities.

She said: “We presented to council a request for consideration to make additional funding provisions to enable us to meet incremental fuel subsidy request in the 2022 Budget.

“In the 2022 Budget, as appropriated, we made a provision of N443 billion for subsidy for January to June.

“Having taken into account the current realities, increased hardship on the population, heightened inflation, and that the measures that needed to be taken to enable a smoother exit from the fuel subsidy are not yet in place, it was agreed by Council that it is undesirable to exit fuel subsidy now.

“The NNPC has presented to the ministry a request for N3 trillion as fuel subsidy for 2022.

“What this means is that we have to make an incremental provision of N2.557 trillion to be able to meet the subsidy requirement, which is averaging about N270 billion per month.

“In 2021, the actual under-recovery that has been charged to the Federation was N1.2 trillion, which means an average of N100 billion.

“In 2022, because of the increased crude oil price per barrel in the global market, now at $80 per barrel, and also because NNPC assesses that the country is consuming 65.7 million litres per day, now we’ll end up with the incremental cost of N3 trillion in 2022.

“So, this has been considered by Council and we’ve also been asked to approach the National Assembly for an amendment to the fiscal framework as well as the Budget, to also further discuss with NNPC on how to make provisions for this and also how to rationalise this expenditure.”

The minister gave an insight into how the N3 trillion for subsidy will be sourced.

She said: “We’re going to engage NNPC to further interrogate the request that they presented to see how we can scale it down.

“We agreed with the view of governors, that there is a need to scale down on the size.

“Even as the government is not immediately removing the fuel subsidy, we have to make sure that what the nation is incurring is efficient, and that it is a real cost that has been consumed by the country.

“How do we fund it? We’ll have to reduce it from that N3 trillion.

“Secondly, we have several reconciliations with NNPC and NNPC itself is owing (the government) in some cases.

“We want to be able to settle some of the subsidy costs through this reconciliation process.

“When we’re done with that, whatever is left that we’re not able to apply to what an NNPC is owing the Federation will not be increasing the deficit.

“That means increased domestic borrowing. But we haven’t finished the reconciliation. This is just the second day.”

Obaseki: it’s a waste

Edo State Governor Godwin Obaseki, speaking during a meeting with Organised Labour in Abuja, was of the view that N3trillion for subsidy was unsustainable.

“We have a choice of continuing to behave like Father Christmas (Santa Claus) or take concrete actions on a problem that is permanent with us rather than throwing away N3trillion on subsidy,” he said.

House to probe petrol consumption

The House of Representatives said it would investigate the volume of petrol consumed daily by Nigerians to verify what is paid as a subsidy.

Speaker Femi Gbajabiamila, who set up two ad-hoc investigative committees, said the House would also investigate the state of the four refineries and what it will cost to fix them and reduce dependence on importation.

Speaking at the resumption of plenary yesterday, he said: “We have had figures bandied here and there without any authenticity. Before we can even begin to talk subsidy, we need to know how much we are consuming.

“The second is to look into refineries and state of repair and determine what will be needed to bring our refineries back to life again.”

Nigeria Labour Congress (NLC) President Ayuba Wabba reiterated the call to the Federal Government to resuscitate the refineries and build new ones before withdrawing subsidy.

Wabba, represented by National Auditor, Benjamin Anthony, spoke in Jos while addressing the Plateau Executive Council of NLC.

“If the subsidy is going to be removed, then the Federal Government should put our four refineries in use,” he said.

NLC said it would remain vigilant despite the government’s suspension of subsidy removal.

At a briefing in Kaduna, the NLC Deputy National Secretary, Comrade Bello Ismail said: “We will not go to sleep despite the reversal of the subsidy removal by the government. We will continue to be vigilant over the issue.

“Going forward, we will continue to engage with the government on the very critical issues of ensuring local refining of petroleum, creation of sustainable jobs and provision of petrol at an affordable price for Nigerian workers and people.”

CNG, PANDEF to govt: get refineries working

The Coalition of Northern Groups (CNG) urged the Federal Government to rehabilitate and revamp the four comatose refineries and block all forms of smuggling of petroleum products outside the country.

In a statement by Director of Strategic Communications, Samaila Musa, the group warned against imposing hardship on the masses through subsidy removal.

“As stakeholders in the Nigerian Project, the CNG advises the Federal Government to never contemplate removal of subsidy again as it is the only direct benefit that many poor Nigerians enjoy from the Government.

“The Federal Government should block all the leakages through which selfish politicians and civil servants corner public resources for their aggrandisement.

“The Federal Government should use its security architecture to block smuggling the fuel just like it does to stop the importation of rice into the country. It is being done for rice; it is doable for fuel too.

“The government should rehabilitate and revamp our four comatose national refineries that were jettisoned. The four refineries have a maximum capacity of refining 450, 000 barrels per day.

“The government should apply some austerity measures to cut some unnecessary expenses, purchases, travels and tours within and outside the country.

“Foreign trips with a large entourage should also be discouraged by the presidency to set an example for others to emulate,” the group said.

The Pan Niger Delta Forum (PANDEF) described the extension of petroleum subsidy as a “good” development for Nigeria.

Its spokesman, Ken Robinson, told our correspondent that removing subsidy at this time would have affected a majority of citizens.

He believes the government failed to carry out a “sufficient analysis of situations” before coming up with the policy.

“Majority of citizens would be affected by that policy of subsidy removal and so clearly, they didn’t think enough,” Robinson said.

He blamed the government for the moribund refineries.

“Why must citizens pay for the failures of government which is what subsidy removal represents?

“Let the government, going forward, properly analyse and evaluate issues before they hastily come up with programmes.”

By Sanni Onogu, Abuja and Alao Abiodun

Former Senate President Bukola Saraki and former Imo State Governor Rochas Okorocha have publicly declared their interest to join the race for the presidency in 2023.

Their declarations followed those of former Lagos State governor, Asiwaju Bola Tinubu; Ebonyi State Governor Dave Umahi and Senate Chief Whip Orji Kalu in the number one position.

Saraki, a former Kwara State governor, said he has a strong record of delivering and experience in making tough decisions.

The ex-Senate President, born on December 19, 1962, is the son of Second Republic Senate Leader Olusola Saraki.

He is a member of the main opposition Peoples Democratic Party (PDP).

On his official Facebook page, Saraki posted: “Earlier, I replied to a follower of mine on Twitter who, like thousands of you, has been clamouring for a united front to #RescueNigeria.

“As we prepare for the journey ahead, I hope we can all join hands to get the ticket of our great party, PDP, and build a nation that works for all of us.

“Join me to make our communities safer and provide real opportunities for you and your families. I have a strong record of delivering and experience in making tough decisions.

“Let’s build a new Nigeria that works for EVERYONE!”

Okorocha declared to run on the platform of the ruling All Progressives Congress (APC).

Read Also: Saraki joins 2023 presidential race

The Imo West senator announced his intention in a letter he wrote to Senate President Ahmad Lawan which he read yesterday at plenary.

He promised to address a world press conference on January 31, 2022, to officially declare his ambition to contest for the post of President.

The letter reads: “As you are aware, the Independent National Electoral Commission (INEC) has announced the timetable for the conduct of 2023 general election, including that of the office of the President of the Federal Republic of Nigeria.

“With elections drawing nearer as the days go by, our citizens are concerned about the quality of persons to run the affairs of our nation, one who can address some of their major concerns which include:

“A detrabalised Nigerian who can unite our country. A leader with a compassionate heart who will care for the poor, the downtrodden and the masses of the country.

“A visionary leader who can create wealth for our teaming populace by addressing the issues of poverty, insecurity and youth restiveness.

“It is as a result of these concerns that I wish to hold a world press conference on my intention to run for the office of the President of our dear nation. I therefore wish to solicit for your prayers as I make known my intention.”

The mouthpiece of Northern Nigeria, the Arewa Consultative Forum (ACF) has declared it does not have any preferred candidate for the 2023 presidential election.

It stated this after rising from the National Executive Committee (NEC) meeting at its headquarters in Kaduna on Wednesday.

ACF, which issued a stern warning to its members against supporting candidates in its name, stated the Forum is not a political party and will not endorse anyone for the 2023 presidency.

In its eight-point communique signed by its National Chairman, Chief Audu Ogbeh, ACF said: “As the country moves towards 2023, we need to remind our members and all that we are not a political party. We do not have a candidate and will not endorse one in the 2023 election North or South.

“When the political parties who have the exclusive permission of the Constitution to sponsor candidates choose a presidential candidate each, we shall engage the candidates and find out what programme they have for the north.

Read Also: Okorocha joins 2023 presidential race

“We in the ACF are worried that all the commercial banks promoted by northerners lost their licenses during the banking consolidation policies of Obasanjo and Soludo. There is the need for the northern business class to put their heads together and establish banks.

“We have always complained of late of the security situation in the north. We are still worried about this. The security conditions in the north are far from satisfactory. We urge the Federal and state government to embark on measures that will improve the situation.

“We had proposed in the past that a meeting with Afenifere/ Ndigbo. This meeting has not held because of logistic problems. These will soon be worked out and members informed accordingly.”

By Bolaji Ogundele and Frank Ikpefan, Abuja

• PIA for return to lawmakers

• Buhari okays continuation of subsidy payment

• Labour suspends protest plan

Implementation of the Petroleum Industry Act (PIA) is no longer tenable with the continuation of petroleum subsidy payment.

President Muhammadu Buhari will propose an 18-month extension to the National Assembly.

The PIA, signed on August 16, 2021, was billed to take effect next month.

Under the law, price control of oil resources and products by the government ought to end in six months to give way to a free market regime.

The six months would lapse next month.

But with the timeline no longer feasible, the executive will return to the National Assembly for an amendment to the PIA.

Minister of State for Petroleum Resources Timipre Sylva told State House Correspondents after meeting with President Buhari, that subsidy removal was put on hold to enable the government put relief measures in place to mitigate the harsh effects.

He said: “It is likely to involve an amendment of the PIA to extend the time. I always do not want to preempt what timeframe the National Assembly will allow, but definitely, at this moment, fuel subsidy removal is not on the card.

“We also see the legal implications. There is six months provision in the PIA, which will expire in February and that’s why we are coming out to say, before the expiration of this time, we’ll engage the legislature.

“We will propose an 18-month extension and then it’s up to the National Assembly to look at it and then pass the amendment as they see fit.”

He said the President directed the suspension to protect the poor and vulnerable against further hardship.

On Monday, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the government would make provision for subsidy payment beyond June.

Sylva said part of the measures is to get the refineries working by the end of the year.

He said: “There is already a provision in the law, but because Mr. President is very humane and is concerned about the plight of the people, especially the less privileged, he believes that the impact the removal of subsidy will have on the poor and vulnerable Nigerians should be mitigated.

“He believes that certain structures must be put in place prior to the removal of subsidy. All those structures are not right now in place.

“One of those is to ensure that the refineries are working. Steps are being taken for all the refineries to be functional very soon.

“The Dangote Refinery is expected to come on stream at the end of this year.

“All our refineries, particularly the Port Harcourt Refinery, is expected to be performing at a certain capacity, not full capacity, by end of this year.

“There are some modular refineries that are also going to come on stream later this year.”

Sylva is also hopeful that by April, conversion of vehicles from petrol to autogas would begin while arrangements are firmed up for palliatives.

He said: “We are hoping that in March or April, the conversion processes will begin.

“We promised that one million cars will be converted initially, and of course, the corresponding amount of gas filling stations will also be built.

“That is in progress and I want to assure you that it will happen very soon. That also has to be in place before we say ‘okay, we want to take out subsidies’.

Asked how long the suspension of the PIA implementation might last, he said: “I will not want to specifically mention the time of extension because that will be a product of a discussion with the National Assembly.”

On the use of gas-fueled automobiles, Sylva said talks have been held with original equipment manufacturers (OEMs) to set up in Nigeria.

“They are actually willing also to give us 50 per cent of the funding. I and the Minister of Finance have discussed also how we can match them with 50 per cent so that it will be 50/50,” he added.

According to him, petrol-powered engines cannot be converted to gas without the filling stations to service them.

Sylva said engagements with stakeholders, especially the Labour, would continue.

On queues in petrol stations, he said there was no need for panic buying or hoarding.

He hoped that the uncertainties on subsidy removal that may have caused the queues have been cleared.

“That’s why we want to just ensure that our people know that they can remain calm and don’t have to hoard or do any panic buying, that we don’t intend to remove subsidy now,” Sylva said.

Labour shelves nationwide protests

Also yesterday, the Nigeria Labour Congress (NLC) called off the planned nationwide protests over petrol subsidy.

It took the decision at its National Executive Council meeting.

NLC President, Ayuba Wabba, at a briefing in Abuja, said members would be demobilised

He said: “The NEC after vigorous debates took a decision to suspend the planned nationwide protest scheduled for 27th January 2022 and the national protest scheduled for 2nd February 2022.

“The leadership of the Congress has communicated this decision to our civil society allies who have stood stoically behind Nigerian workers in our quest for social and economic justice for workers and the downtrodden people of our country.

“Going forward, we will continue to engage with the government on the very critical issues of ensuring local refining of petroleum, creation of sustainable jobs and affordable price of petrol for Nigerian workers and people.

“We commend the Nigerian workers and people particularly our civil society allies for their unwavering solidarity and support during this struggle. We sure are stronger together.”

LCCI recommends phased subsidy removal 

The Lagos Chamber of Commerce and Industry (LCCI) recommended a phased removal of petrol to mitigate its effect on the masses.

Its Director-General, Dr Chinyere Almona, said in a statement that the phased removal should be accompanied by complementary investment in critical infrastructure aimed at supporting production in the economy.

According to her, increased production would mean more job creation, poverty reduction and improved economic growth.

The LCCI DG, however, noted that a monthly payment of about N250 billion to subsidise fuel consumption meant an additional N1.5 trillion expenditure in the 2022 budget.

She stated that with additional expenditure against the projected revenue, deficit financing would be needed to support the budget expenditure.

Dr Almona noted that the development was likely to see the government borrowing more than projected to finance the bloated expenditure in the face of revenue mobilisation challenge.

“The signing of the Petroleum Industry Bill into law by President Buhari was well-received by all major stakeholders and seen as a commendable act by the government.

“The political will to sign the bill into law was highly applauded because of the expectations of many on the full exploitation of the inherent potential of the oil and gas sector.

“Less than a year into the signing of the Act, the implementation has suffered a flip-flop as some of the provisions of the Act are being suspended,” she said.

Dr Aloma said while the LCCI supported the full implementation of the PIA and total deregulation of the oil and gas sector, it was not insensitive to the plight of the masses that might feel the pains of fuel subsidy removal.

IPMAN seeks action on refineries

The Independent Petroleum Marketers Association of Nigeria (IPMAN) urged the Federal Government to begin the implementation of programmes and palliatives aimed at cushioning the effects of the eventual removal of petrol subsidy.

Its President, Mr Chinedu Okoronkwo, believes the postponement gives the government an opportunity to put the necessary programmes and palliatives in place.

“The government should ensure that we improve our domestic refining capacity by rehabilitating our refineries.

“This is ongoing and hopefully the contractors will adhere to the stipulated timelines.

“Also, the government should give the necessary support to the Dangote Refinery and other private-owned refineries under construction to enable them to come on stream as soon as possible,” he said.

Okoronkwo advised the government to initiate its mass transit programme to help reduce the cost of movement of goods and persons.

“One of the factors contributing to the high cost of foodstuff in Nigeria is transportation.

“If we have mass transit buses, this will help us to reduce the prices of foodstuff in our markets,” he said.

 

By Tony Akowe, Sanni Onogu  and Nicholas Kalu, Abuja

The Senate and the House of Representatives yesterday harmonised their positions on the 2010 Electoral Act (Amendment) Bill.

Both chambers agreed that “consensus” should be a part of the mode of nominating candidates by political parties for elections.

But they added some conditions for use of the option. According to the bill, parties must receive written consent from all aspirants.

In case of failure by parties to obtain written consent from aspirants, they (parties) must revert to either direct or indirect mode of primary.

The second condition is that where a party decides to use the consensus option, it must hold a special convention at all levels to ratify the candidate so agreed on before the nomination can become valid.

The amended bill also  provides in Clause 84 (2) that: “The procedure for the nomination of candidates by political parties for the various elective positions shall be by direct, indirect primaries or consensus.”

Clause 84(3)  of the unified bill states that: “ a political party shall not impose nomination qualification or disqualification criteria, measures, or conditions on any aspirant or candidate for any election in its constitution, guidelines, or rules for nomination of candidates for elections, except as prescribed under sections 65, 66, 106, 107, 131, 137, 177 and 187 of the 1999 Constitution   (as amended).”

Also, Clause 84 (4), which specifies  the direct primaries option, states: “A political party that adopts the direct primaries procedure shall ensure that all aspirants are given equal opportunity of being voted for by members of the party and shall adopt the procedure outlined below:

• In the case of presidential primaries, all registered members of the party shall vote for aspirants of their choice at a designated centre at each ward of the Federation;.
• The procedure in paragraph (a) above of this subsection shall be adopted for direct primaries in respect of governorship, senatorial, federal and state constituencies; and
• Special conventions or congresses shall be held to ratify the candidate with the highest number of votes at designated centres at the national, state, senatorial, federal and state constituencies, as the case may be.

On indirect primaries, the bill provides under Clause 84(5) that, “a political party that adopts the system of indirect primaries for the choice of its candidate shall adopt the procedure outlined below:

• In the case of nominations to the position of a presidential candidate, the political party shall – (i) hold a Special Presidential Convention at a designated centre in the Federal Capital Territory or any other place within the Federation that is agreed to by the National Executive Committee of the party where delegates shall vote for aspirants of their choice; and
• the aspirant with the highest number of votes cast at the end of voting shall be declared the winner of the Presidential primaries of the political party and that aspirant’s name shall be forwarded to the Commission as the candidate of the party.

Senators had while reworking the bill vetoed by  President Muhammadu Buhari approved direct,  indirect primary and consensus modes. The House members gave nod to only direct and indirect primaries.

President Buhari had declined to sign the bill on the grounds that it made provision for only direct primaries as the only method for nominating candidates for elections.

Debate by the Senate on the new bill followed a motion titled: “Rescission on Clause 84 of the Electoral Act No.6 2010 (Amendment) Bill, 2022 and Committal to the Committee of the Whole”  by  Senate Leader  Yahaya Abdullahi.

After Abdullahi’s lead debate, the motion was put to a voice vote by Senate President Ahmad Lawan, who had earlier expressed hope that Buhari would sign the new bill when presented to him.

Lawan said: “ The House has the same report. By passing the amendment to Section 84, the mode of conducting primaries by parties to produce candidates, we have concluded on our task on the amendment to the Electoral Act No. 6, 2010 Bill.

”You will recall that the Senate and the House passed the Electoral Act (Amendment) Bill with a slight difference.

“While the House passed the mode of primaries to be direct and indirect only, the Senate a passed the mode of primaries to be direct, indirect and consensus.

”What we have done is to give very clear and sufficient definition to each mode of primaries.

“The direct primary is well defined and how it will be conducted. Ditto the indirect primaries. And for the consensus, the two chambers have produced in this bill, a very clear definition of how the consensus candidate would emerge.

”Therefore, we are very glad that we have been able to achieve this consensus between the two chambers to arrive at this harmonised version and we are also very optimistic that Mr President will sign the bill.

”When this is signed, political parties would have the responsibility of ensuring that they follow the law.

“Otherwise, they will end up missing the opportunity to participate in elections.”

House  Speaker Femi Gbajabiamila said they decided to toe  Senate’s line in order to avoid going into a conference committee and to save time.

He explained that the conditions for the consensus option were aimed at protecting aspirants and candidates in an election.

Spokesman for the House Benjamin Kalu said the decision of the members was permitted by the House rules.

He added that Nigerians should be happy that the three options contained in the proposed law have democratic tenets attached to them.

He said that the  House was not engaged in any who war with the Executive arms of government or was it entering into acrimony with the Senate but working for the overall interest of Nigerians.

Kalu added that since there would be no need for a conference committee between the Senate and the House, the Clerk of the National Assembly was expected to transmit the new bill to the President within the shortest possible time.