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Tag: ICPC

  • EFCC, ICPC: our battles against graft

    The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related Offences Commission (ICPC) yesterday gave accounts of their battles against corruption in the country. At events held in Abuja and other parts of the country, the anti-graft agencies spoke on their achievements, challenges and plans to curb the corrupt. Joseph Jibueze, Rosemary Nwisi, Port Harcourt and Adekunle Jimoh report

    ‘Recovering stolen assets abroad a complex process’

     

    Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu yesterday said the Federal Government was determined to recover stolen assets hidden abroad despite it being a “complex” process.

    He spoke in Lagos after a road-walk to mark the African Union (AU) Anti-Corruption Day, which is held every July 11.

    This year’s theme is: “Towards a Common African Position on Asset Recovery.”

    Magu, represented by EFCC Lagos Zonal Head Mr Mohammed Isa-Rabo, referring to a report by a high-level panel on Illicit Financial Flows (IFF), said Africa loses over $50 billion yearly through illicit financial outflows.

    “A large portion of these outflows is made up of illegally acquired assets that are located all over the world.

    “As we are all aware, asset tracing, freezing, management and eventual repatriation are a long and complex process.

    “As a result, heads of anti-corruption agencies in Africa have persistently sought the support and collaboration of the global community in repatriating stolen assets back to African countries.

    “The need to strengthen international cooperation amongst the anti-corruption agencies in Africa for purposes of developing an African common position framework on asset recovery and return can, therefore, not be over-emphasised,” the EFCC Acting Chairman said.

    He noted that the Muhammadu Buhari administration has made the fight against corruption and the recovery of stolen assets a key agenda.

    This, he said, has resulted in significant recoveries of looted assets that were acquired through mismanagement of public funds.

    “It is against this background that today’s convergence of  all relevant anti-corruption stakeholders (domestic and international) to reflect on the challenges of asset recovery in Africa and solicit contributions and support towards developing a framework for an African common position on asset recovery is very important.

    “Besides, there is the need to create awareness and engage the citizens in asset recovery efforts.

    “All hands must be on deck in response to the clarion call from across the world to defeat corruption. We must all demand the culture of integrity and accountability to win the fight against corruption,” Magu said.

    The EFCC Acting Chairman emphasised that corruption remains Nigeria’s and Africa’s greatest the problem, with resources that should have delivered the good life to the majority being cornered by a privileged few, leaving the continent underdeveloped.

    “The Commission recognises the fact that enduring success in the fight against economic crimes and corruption can only be achieved when all stakeholders embrace this important fight.

    “This is why we will continue to encourage us all to shun crimes and all acts of corruption.

    “Let me emphasise again that the future of this country belongs to us all. The decision we make today will determine the type of society our children will live in. Together we can make Nigeria great again,” Magu added.

    A leader of the Movement Against Corruption (MAC), a coalition of 250 civil society organisations, Dr Joe-Okei Odumakin, said it was gratifying that the AU set up the day with a view to combating the continent’s biggest scourge: corruption.

    “Africa, our great continent, is bleeding under the heavy weight of corruption. If Africa does not kill corruption, corruption will kill us. More than $50billion of our resources is being starched away through illicit flows yearly.

    “The poorest people we can find in this world are from Africa. Instead of us putting the feet of our youths on the pedestal of prosperity, they are being put on the pedestal of corruption.

    “Hunger, war and terrorism are as a result of corruption.  But we must all ensure that we keep our children alive. We can longer continue to agonise, but we must organise.

    “We can’t fold our arms akimbo, while our country is bled dry. That is the essence of this walk,” Odumaki said.

    The frontline activist urged Nigerians to join the fight by speaking up against acts of corruption and by blowing the whistle.

    “When we see something, we must say something. The EFCC alone cannot fight that war against corruption; the government alone cannot do that either.

    “So, we must all, wherever we find ourselves, make the fight against corruption our battle cry.

    “I am an incurable optimist and I am so optimistic that, if we all join hands, we will be able to repatriate all our stolen funds.

    “All of us here remain the lubricants for the survival of the entity called Nigeria and, indeed, Africa.

    “So, we must all be ready to confront this scourge. I believe that African will flourish again,” she added.

     

    Over N800b recovered in five years, says Magu

     

    Economic and Financial Crime Commission (EFCC) acting Chairman Ibrahim Magu has revealed that over N800 billion has been recovered from the corruption fight in the last five years.

    Magu spoke in Port Harcourt, the Rivers State capital at the year’s African Anti-corruption Match, with the theme, “Towards a Common African Position on Assets Recovery”.

    He spoke through the Head, Port Harcourt zonal operation, Mr.  Abdulrasheed Bawa. He said unless Nigerians key into the whistleblowing policy to expose corrupt leaders and public servants, they would continue to get away with their illicit wealth to the detriment of the nation’s economy.

    “We have made a lot of giant stride by recovering a lot of monies over the years, that in the last five years of the present leadership of the EFCC, we have recovered over N800 billion.

    “This year alone, we have secured over 500 convictions across the country and Port Harcourt zonal office alone have over 20 per cent of the  achievement.

    “We are not resting on our oars, however,  we are aware that the task ahead of us is enamours but I assure you that our will as Nigerians and that of the stakeholders in the fight against corruption are higher and together we fight the common cause of corruption in the country.” he promised.

    “The situation and what corruption has done to the country and citizens, in particular, can not be overemphasized, there is no gainsaying that corruption is hindering our economic development, the activities of fraudsters  and corrupt leaders have deprived Nigerians good roads, good education,  health facilities among others.

    “Whistleblowing policy is still in place,  Nigerians are advised to key into the policy; in this, you are not only going to make the country better by divulging  us with useful information but you are also going to benefit from it,  because the government  promised to give every whistleblower 5 per cent of the recovery made with the information provided. With this reward, may we are encouraged to expose corruption before corruption will kill Nigeria.”

    He told the audience at the popular Isaac Boro Park that the essence of the match was to create awareness of the dangers of corruption and to encourage all hands to be on deck in the fight for the recovery of the soul of the economy of Africa,”he said.

    The match started from the office of the commission at Forces Avenue near the Government House, through Garrison roundabout to Isaac Boro Park in Mile One axis of the state where it terminated amid heavy downpour.

    Authorities and staff of the EFCC in the state, men of the Police Federal Road safety corps,  Immigration,  Customs,  Civil Defence,  National Orientation, organised Labour, NYSC, and civil society organisations participated in the match and pledged their continued support in the fight against corruption.

     

    Africa loses $50b per annum to money laundering

     

    The Economic and Financial Crimes Commission (EFCC) yesterday said African countries lose $50billion to money laundering annually.

    The anti-graft agency added that a large chunk of the outflow was made up of illegally acquired assets spread all over the world.

    The Zonal Head, EFCC Ilorin office, Isyaku Sharu, addressed reporters in Ilorin during a road walk show to commemorate the African Anti-Corruption Day.

    EFCC’s road show was organised in collaboration with New Partnership for Africa Development Agency (NEPAD).

    He noted that African nations had suffered humongous capital flight. He bemoaned the degree of corrupt practices in the country but promised that the agency would not rest on its oars.

    “This is a gathering of Africa against corruption and looted funds. We have, for long, suffered huge and humongous capital flight from Africa to the western world. It is our responsibility to come as Africans to the common cause with a view to making sure that the assets meant for Africa repatriated to Africa,” he added.

    Sharu explained that assets recovery was a long process that requires the invocation of relevant instrument of international cooperation, including extradition, mutual legal assistance treaty and freezing among others.

    Sharu maintained that the crusade against graft in the country had translated into the significant recovery of looted assets that were acquired through mismanagement of public funds.

    He urged stakeholders to join hands with the commission to ensure recovery of common patrimony carted away.

    “Over the past four years, the Nigerian government has advocated for the return of stolen from a foreign jurisdiction through the use of anti-money laundering law and country financing terrorism. You will all agree with me that in January 2018, $221million of the repatriated Abacha stuff had been brought back to the country,” he said.

    Also speaking, Kwara state Director of National Orientation Agency, Olusegun Adeyemi said the event was very significant, pointing out that the negative  effects of corruption on socio-political has impacted on the nation’s economic transformation.

    Adeyemi said the presence of the anti-graft agency in the state has gone a long way in curbing money laundering, just as he added that it was also securing convictions.

     

    EFCC solicits support of CSOs, trade unions EFCC

     

    The Economic and Financial Crimes Commission (EFCC) yesterday solicited the support of trade unions and Civil Society Organisations (CSOs) to facilitate mass education against corruption.

    The South-East Zonal Head of the commission, Mr Usman Imam, solicited the support at the 3rd African Anti-corruption Day celebration in Enugu.

    Imam said the effect of corruption had become hydra-headed that CSOs, professional bodies, trade unions and others were needed to be fully involved in the fight against it.

    He said the EFCC was committed to winning the corruption war no matter how long it took, adding that to do that “Nigerians needed to join in the fight.

    “Until Nigerians are determined to expose and hold public officials accountable for their stewardship and not see the fight from ethnic, political or religious perspectives, the war might never be won,” he said.

    The EFCC zonal head said that the Federal Government had particularly made the fight against corruption and the recovery of stolen assets a key agenda for the current administration.

    “This has translated to significant recoveries of public funds,” he said.

    He said that the African anti-corruption day had its roots on a series of events leading to an African Union Convention on Prevention and Combating Corruption adopted in Maputo, Mozambique on July 11, 2003.

    The event, which had in attendance, officers of relevant government agencies, featured a road march around Enugu metropolis.

     

    Vulnerable poor, marginalised, worst victims of corruption, says ICPC

     

    The Independence Corrupt Practice and Other Related Offences Commission (ICPC) yesterday said the worst-hit victims of corruption were the vulnerable poor and the marginalised people of society.

    ICPC Chairman Prof. Bolaji Owasanoye spoke in Kaduna during the commemoration of the 2019 African Union Anti-corruption Day to create awareness on the menace of corrupt practices.

    Owasanoye, who was represented by the state’s Commissioner, ICPC Kaduna State Office, Shehu Yahaya, said that millions of Nigerians were being denied basic social services due to corruption.

    “As we join our African brothers to create awareness on the menace of corruption and engender collective action, we need to understand the negative impact of corruption, particularly on the hopeless common man.

    “With corruption, citizens suffer one form of denial or the other; in social services, physical infrastructure and employment with accompanying consequences on the general wellbeing of the people,” he said.

    He said that ICPC would continue to do all that it can to address corrupt practices associated with the social welfare sector is known to have impacted negatively on the lives of the citizens.

    He added that the commission’s new policy focus was to ensure effective utilisation of budgetary allocations for social welfare and human development.

    According to him, the commission will use the provision of the law, especially non-conviction-based assets forfeiture to make more resources available for development.

    “The commission is currently tracking the execution of constituency capital projects across the country to ensure that the projects are properly executed and delivered to the communities they were meant for.

    “Tax fraud and illicit financial flows investigation is also being conducted as well as prosecution of corruption and money laundering among others.”

    Also speaking, Mailafiya Yakubu, Head, Economic and Financial Crime Commission, Kaduna Zonal Office, said that only sound moral upbringing will rid the society of corrupt practices.

    Yakubu said that religious leaders have a duty of ensuring that people grow with good morals that the younger generation would emulate for a corrupt free society.

     

    EFCC Benin Zonal Command secures 51 convictions in 6 months

     

    The Benin Zonal Command of the Economic and Financial Crimes Commission (EFCC) yesterday said it secured 51 convictions within the last six months.

    Mr Muktar Bello, the Zonal Head of Operations, disclosed this in Benin, during the activities to commemorate the third African Anti-Corruption Day.

    Bello said those convicted were persons involved in various kinds of financial fraud.

    He also disclosed that within the period not less than N46.6 million as well as instruments of frauds (proceeds of crimes) were also recovered and forfeited to the Federal Government.

    The zonal head of operations explained that in the commission’s effort to exterminate corruption, it realised that it could not tackle the fight alone.

     

    ‘Making Nigeria corruption-free is a collective fight’

     

    The Economic and Financial Crimes Commission (EFCC) has urged residents of the state to see the ongoing anti-corruption crusade in the country as a collective fight.

    Mr Friday Ebelo, the Zonal Head, Ibadan Zonal Office made the call yesterday in Ibadan during a `Road Walk’ to commemorate the annual African Anti-Corruption Day.

    EFCC officials led by Ebelo and other collaborating organisations converged at EFCC office and walked through Iyaganku quarters, G-Allen to Dugbe, sensitising residents on the dangers of corruption.

    “Nigeria is our country and to make it corruption-free is a collective agenda. What we are doing today is to sensitise our people and bring them on board in the fight against corruption,’’ he said.

    Ebelo said President Muhammadu Buhari and the EFCC acting chairman, Ibrahim Magu had been at the forefront driving issues toward recovering the nation’s assets tied overseas.

  • Anxiety over AMCON’s N5trillion debt

    Worried about the different legal landmines it has to navigate to recover the N5trillion debt yet to be paid by recalcitrant debtors, the board of Asset Management Corporation of Nigeria (AMCON) is leaving no stone unturned in its quest for justice, report Ibrahim Apekhade Yusuf and Charles Okonji

    The board and management of Asset Management Corporation of Nigeria (AMCON) is in a horns of a dilemma, in a manner of speaking.  

    Reason: it has been battling to recover debts in arrears of N5trillion with minimal successes thus far.

    How it all started

    Early in its operations AMCON acquired about 13,774 non-performing loans (NPLs) worth N3.6 trillion from 22 commercial banks and provided financial accommodation of N2.2billion, protected N4.7trillion of depositors’ funds and interbank takings as well as saved approximately 14,000 jobs.

    Through AMCON’s intervention, the federal government successfully managed to save the banking system from systemic collapse. But this achievement will not be complete until and unless it recovers those bad debts, which it used taxpayers’ money to purchase.

    Reality bite

    Today, AMCON seems to have exhausted all strategies in debt recovery books in its bid to get the job done. For example, AMCON recovered the sum of N152.3 billion from its equity injection of N1.49 trillion into five Eligible Financial Institutions (EFIs). This represents a 10% recovery rate on investment. Similarly, AMCON successfully divested the three bridge banks to private investors for a combined sum ofN207.8 billion a 23% recovery rate on amount invested.

    Subsequently, the Corporation tinkered with the novel idea of Asset Management Partners (AMPs).  The AMPs are consortiums with specialist skills required to ensure recovery and debt resolution from banking, legal, valuation and accounting backgrounds. The move is AMCON’s strategy to resolve over 6,000 accounts with loan balances of N100 million and below.

    In this arduous task of debt recovery Ahmed Lawan Kuru, managing director and CEO of AMCON, has maintained that he’s is not oblivious of the fact that debtors are not necessarily enemies and that they should be supported to transform their NPLs to RPLs (re-performing loans) through enhancing their productivity. That has been tried successfully with some obligors. The case of Skye Bank (now Polaris Bank) in 2018 and Arik Air takeover provide good examples here.

    AMCON, provided working capital in excess of about N4 billion to Arik Air Limited to salvage its operations. It is important to note that Arik Air, prior to the injection of the working capital, was indebted to AMCON to the tune of N142 billion. The efforts have since effectively stabilised the operation of the airline.

    AMCON was also instrumental to the rescue of Skye Bank Plc. (now Polaris Bank Limited) orchestrated by the CBN and the Nigerian Deposit Insurance Corporation. In September 2018, AMCON injected the sum of N898 billion into Polaris Bank Limited to prevent it from collapse.

    While giving a fresh perspective on AMCON’s recovery drive, Bashir Ibrahim Hassan, a financial analyst, from Abuja said, AMCON’s interventions have largely worked. “The truth is that no company or individual is forced to borrow money in the first place. Ultimately, if companies owe a debt, it’s because they chose to borrow money. Their lenders made that loan, or offered the credit line, contingent upon a documented pledge to pay back. This means creditors do have a right to their money, and a debt collector is simply trying to reclaim what is legally and ethically owed by the debtor.”

    New thinking

    From available information, so far AMCON) has recovered about N1.22 trillion of the bad debt, with about N5 trillion still outstanding. But to many discerning observers, the agency’s reputation has for long been blemished by the impression that, while recoveries are made from those without political clout, well-connected people known to be big debtors walk the streets freely.

    However, if the blessed assurance of Vice-President Prof. Yemi Osinbajo is anything to go by, things are about to change for the better.

    “I think the time has come for us to set some examples with some of these top debtors of AMCON, which…will serve as deterrent to others.”

    The federal government, he said, will set up an inter-agency collaboration framework that would comprise relevant government Ministries, Departments and Agencies supervised by his office to ensure that institutions and individuals indebted to AMCON were not allowed to do business with government henceforth. This, expectedly, will hit the obligors hard and will force them to cough some millions to settle the debt they owe AMCON.

    He then assured the management and the board that the federal government is “committed to working more closely with your administration to ensure that these monies are recovered from AMCON obligors, because it will help our economy and provide the government with more money to continue to improve on the development of infrastructure across the nation.”

    Interestingly, such marshal order from the presidency sends the right signal that it won’t be business as usual for debtors.

    As to be expected, in line with its new mandate AMCON has forged a synergy of cooperation with relevant law enforcement agencies to achieve its set objective.

    One of the key law enforcers AMCON is already working with is the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

    AMCON paid a courtesy call on the agency in its headquarters in Abuja last Wednesday, where its Chairman, Prof. Bolaji Owasanoye disclosed plans by the commission to collaborate with the former towards the recovery of N5trillion owed AMCON by obligors. He made the declaration when he received the Board and Management of AMCON led by the Corporation’s Board Chairman, Dr. Muiz Banire SAN.

    Prof. Owasanoye who received the AMCON delegation at ICPC headquarters while describing the huge debt profile of AMCON as sobering situation especially as the figure represents about 50 per cent of Nigeria’s 2019 budget, further said the situation has become existential challenge for the country since the few people who are holding the country to ransom are still walking free and waxing strong in the society.

    Considering the positive impact, the funds would have in the economy if recovered, Prof. Owasanoye declared that the time has come for the ICPC and other relevant sister agencies to partner AMCON and support the debt recovery drive. He however pledged that the ICPC under his leadership is ready to work with Ahmed Lawan Kuru, Managing Director/Chief Executive Officer of AMCON and the Board members to recover as much of these debts as possible before sunset.

    “We have to be practical in our approach. Something needs to be done and very fast too given the approaching AMCON sunset because this is public funds we are talking about here. We need AMCON and ICPC to work closer and develop a strategy that would work. We need the public to know the opportunity cost of the huge debt to the Nigerian economy, we need to share information as sister agencies locally and internationally and treat this matter as a last lap race by setting up a joint taskforce to deal with this sobering issue,” he added.

    The ICPC boss, who is of the opinion that obligors of AMCON are made to face the music, which he said would serve as deterrent to others further added, “If these matters are not properly challenged and well treated, we can predict based on history that these set of people or their clones would repeat this circle of borrowing and would tell you that in the past, some people borrowed and defaulted and nothing happened. So something has to be done.”

     

  • Corruption weakens economy, says ICPC chairman

    Prof. Bolaji Owansanoye, Chairman, Independent Corrupt Practices Commission (ICPC), said on Friday that corruption has the capacity of weakening the economy and dampening investors’ confidence.

    Owansanoye was delivering a keynote address at a one-day conference on “Governance, Leadership and Ethics: How to Build a Thriving Economy’’ in Lagos.

    The News Agency of Nigeria (NAN) reports that the conference was organised by the Integrity Organisation, with support from MacArthur Foundation and ActionAid.

    Owansanoye said that the task of building the economy was a collective one.

    “The task of building the economy lies in our hands, it does not only involve those few people who have the reins of governance in Nigeria, but is a collective task,’’ Owansanoye said.

    The ICPC chairman noted that building a strong economy and lifting the nation out of economic depression required strong and ethically minded individuals.

    According to him, corrupt people and bad governance have a devastating effect on the economy.

    He, however, urged Nigerians to rise up and challenge the position of corrupt individuals in the country.

    Read Also: Alleged N2.5b NBC fraud: Ex-Minister Lai Mohammed to appear as witness, says ICPC

    The professor noted that the country required adequate judicial and ethical structures to woo investors.

    “For our economy to grow, investors are key, without putting adequate structures in place, investors will continue to avoid coming to Nigeria,’’ Owansanoye said.

    He noted that although philosophers differ in their definition of corruption, the vice has had devastating effects in the private and public sectors of the nation.

    “In the private sector, it can devastate a company and its share holders and cause investors financial losses.

    “In the past in the public sector, corruption led to increase in the cost of governance, aggravated poverty and prevented the delivery of government projects and the gains of democracy,’’ Owansanoye said.

    He said that leaders should be seen to have the ability to promote integrity and be guided by ethical principles, while he frowned against the culture of silence in the face of corruption and crime.

    “The synergy required in the fight against corruption is collective, We must break the culture of silence that permeates our society.

    “We all have a duty to report crime,’’ Owansanoye said. (NAN)

  • ICPC denies ‘chief legal officer’ prosecuting NFF officials

    The man who described himself as the “chief legal officer” of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in the case against officials of the Nigeria Football Federation (NFF) was not authorised to do so, TheCable can report.

    Celsus Ukpong, in suit no. FHC/ABJ/CR/93/2019 filed on Tuesday by him on behalf of the attorney-general of the federation, charged five NFF officials before the Abuja division of the federal high court over 17 allegations bordering on corruption, one of which was “failing to declare assets before the Special Presidential Investigative Panel and Recovery (SPIP)”.

    However, TheCable contacted ICPC on Wednesday to confirm if Ukpong was acting on behalf of the anti-graft agency but Rasheedat Okoduwa, the spokesperson, flatly denied.

    “Mr. Ukpong is not prosecuting NFF on behalf of ICPC. The commission has withdrawn him from the Special Presidential Investigation Panel (SPIP). The secretary to the government of the federation in a letter dated 14 February 2019 directed the chairman of SPIP to release him immediately,” she told TheCable.

    Okoi Obono-Obla is the chairman of the SPIP.

    On Tuesday, SPIP, acting on behalf of the federal government, alleged that NFF official misappropriated $8.4 million belonging to the federation.

    The money was said to have been paid by the Fédération Internationale de Football Association (FIFA) to the NFF as appearance fees for the 2014 World Cup in Brazil.

    The accused persons are Amaju Pinnick (NFF president), Seyi Akinwunmi, 1st vice president, Shehu Dikko, 2nd vice president, Mohammed Sanusi, general secretary and Ahmed Yusuf Fresh, NFF executive member. The defendants were also accused of “moving the cash” belonging to the NFF without the consent of the federation.

    They have all denied the allegations.

  • ICPC alarmed over multi-billion naira Abuja estates abandoned by owners

    THE Independent Corrupt Practices and other Related Offences Commission (ICPC) is alarmed at the rate owners of multi-billion naira housing estates in Abuja abandon their property the moment the commission initiates investigation into their ownership status.

    Its Chairman, Prof. Bolaji Owasanoye, who stated this in Abuja yesterday, said the development has become a great worry to the commission and other anti-corruption agencies.

    Owasanoye, who was represented by his Chief of Staff, Dr. Esa Onoja, also raised concerns over illicit financial flows abroad and estates springing up every day in different locations in the Federal Capital Territory (FCT).

    The ICPC chair spoke as a special guest at a Forum of Special Anti-Corruption Situation Room, organised by the Human and Environmental Development Agenda (HEDA).

    According to him, in many cases where Non-Conviction Assets Forfeiture proceedings are initiated against the numerous sprawling estates, nobody comes forward to claim ownership.

    He explained that the ICPC has initiated a number of Non-Conviction Assets Forfeiture proceedings, in line with Section 17 of the Advanced Free Fraud Act.

    Owasanoye added that Sections 37 and 38 of the ICPC Act also empowered the commission to initiate such proceedings in court, where there is a suspicion that such assets were proceeds of crime.

    “Where nobody comes forward to claim ownership after publication of Temporary Forfeiture Orders from the courts, the assets become the property of the Federal Government,” he said.

    The ICPC boss, however, could not immediately provide the number of such Abuja assets so abandoned by their owners, saying: “It’s a big problem that required information from members of the public.

    “We feel that citizens should provide information and after providing information, to act as witnesses. The current administration has a very strong and viable whistleblowing policy.

    “Over N.5 trillion has been recovered through this policy. But a lot more information is required. If we can only get just 25 per cent of what has been stolen and if that money is deployed to education, health, security, I think we would be on the road to joining other nations that our citizens will like to fly to and use their resources,” he said.

    Owasanoye enjoined Nigerians to stop seeing corruption as a “victimless” crime, saying: “When funds meant for health, education, security, housing etc are diverted and end up in private hands, we all feel the impact”.

    Also speaking at the event, the Director General of the National Orientation Agency (NOA), Mr. Garba Abari, said the anti-corruption war was being waged at all levels of government.

    Abari said the citizens owed it a duty and responsibility to key into the anti-corruption campaign of the government, stressing that the cumulative effects of corruption are felt by the generality of the citizenry.

    Head of HEDA’s Human Rights Project Olanrewaju Suraju bemoaned the huge resources in foreign exchange the country had lost to corrupt practices in the oil industry.

    Suraju cited the case of the controversial OPL 245 issued to Malabu and how the Federal Government lost billions of dollars to unethical practices by past government officials.

  • Watch it, ICPC!

    • EFCC is in a better position to investigate the banks. But there can be collaboration

    CHAIRMAN of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof Bolaji Owasanoye, has restated the concerns of most Nigerians about the complicity of financial services sector operatives in the widespread financial crimes plaguing the country. Describing to a visiting team from the Bank of Industry “how some financial institutions condone unethical conducts by opening accounts for criminals and how they use innuendos to make suggestions of criminality to lure customers”, he pledged the commission’s commitment to work together with financial institutions in order to rid them of corrupt elements – as, according to him, “one bad apple can ruin the entire bunch”.

    We do understand where the ICPC chief is coming from. To have any chance of success, the fight against corruption must be as widespread as multi-sectoral. And to the extent that the financial services sector has mutated from being passive enablers to being active conduits for most of the illicit transactions referenced, going after the vast financial network would seem an integral part of the war.

    The problem is whether this is what the ICPC is called to do. To our understanding, the ICPC is primarily charged with fighting corruption in the public sector while the Economic and Financial Crimes Commission (EFCC) has its remit in investigation and prosecution of all manner of financial crimes, including those involving the banks. We can only urge the ICPC to be well guided to avoid needless turf wars with the sister agency.

    The big challenge, as it appears, is the apparent lack of synergy between the different anti-graft agencies. Given that the EFCC and the ICPC have a shared objective of ridding the country of different shades of criminality, there is at the moment, a lot to say about the ingrained culture of insularity under which agencies have tended to act without reference to one another, even when better and faster results could have been obtained by sharing intelligence.  Of course, while the two agencies have different remits, their functions should not necessarily be seen as parallel lines that would never meet; they should rather see periodic intersections in activities, whenever they occur, as inevitable part of the job as well as an opportunity for meaningful collaboration.

    We therefore expect, going forward, the two agencies not just to forge a working framework but to invest in a common intelligence pool as part of measures to strengthen and deepen the anti-graft war.  Surely, that is what national interest dictates.

    Fighting the crime is however one layer of the problem. The other layer is to ensure that the regulations are observed as well as the ethics that underpin them. To the extent that the failure of the latter two almost inevitably leads to the criminal breaches, it seems only necessary that due attention be paid to them to limit the scale of criminal infractions. That is where bodies like the ICPC and EFCC should be looking at as long-term strategies to make their job easier. This is perhaps where collaboration is most needed with the industry taking the lead through the Bankers Committee and the Chartered Institute of Bankers (CIBN). This is even more pressing now that the image of the profession has been terribly tainted by the activities of some powerful, delinquent actors in recent years. In other words, how to restore discipline, shore up capacity and help rebuild trust for the institutions should be uppermost in the minds of the leaders of the industry.

  • Updated: Court frees suspended SEC DG, official charged with N115m fraud

    A High Court of the Federal Capital Territory (FCT) in Maitama has set free the suspended Director General of the Security and Exchange Commission (SEC), Mounir Gwarzo and a Commissioner of the commission, Zakwanu Garuba.

    Gwarzo and Garuba were, in a five-count charge filed by the Independent Corrupt Practices and other related Commission (ICPC), accused of complicity in a N115million fraud.

    Ruling on Tuesday, Justice Husseini Baba-Yusuf upheld the no-case submission made by both defendants.

    Justice Baba-Yusuf held that the prosecution failed to make out a prima facie case against the defendants. He discharged and acquitted them.

    In the charge, Gwarzo was, in three counts, accused of receiving N104,851,154.94 as  severance benefit, between May and June 2015 when he had yet to retire, resign or disengage from service.

    He was also accused of receiving N10, 983,488.88 as car grant, which he was not entitled to.

    On his part, Garuba, a former Executive Commissioner, Corporate Services in SEC, was, in two counts, accused of conferring corrupt advantage on another public officer, in the person of Gwarzo, by approving the payments to the suspended SEC boss.

    In his ruling on Tuesday, Justice Baba-Yusuf said the board of SEC had, by its resolution, approved the payments which the prosecution had alleged to be illegal and dishonest.

    The judge held that by virtue of the Investments and Securities Act, the resolution by the board of SEC was not subject to a review by any person or authority.

    “‎There is no evidence that the 1st defendant (Gwarzo) used his officer to confer advantage on himself.

    “The evidence of criminal breach of trust was not established and the evidence of the witnesses was discredited under cross-examination,” the judge said.

    ‎He added that the evidence led by the prosecution showed that the N115m severance allowance paid to Gwarzo followed his elevation from the position of a Commissioner of SEC to the status of the Director-General, and was in line with a resolution made by the SEC board on July 11, 2002.

    Justice Baba-Yusuf rejected the prosecution’s argument to the effect that the severance allowance handed to Gwarzo was in excess of what was provided for in the Certain Political, Public and Judicial Office Holders (Salaries and Allowances ETC) Act, 2002.

    He said the provision of the Certain Political, Public and Judicial Office Holders (Salaries and Allowances ETC) Act, 2002 was not applicable to SEC and that the public officers for who the law was meant to apply had been clearly reflected in the law.

    The judge said the prosecution’s emphasis on the law was out its ignorance of the powers of the highest decision-making organ of the SEC – the board.

    READ ALSO: Suspended SEC DG Gwarzo, one other arraigned for alleged N115m fraud

    He faulted the prosecution’s failure to consider the provisions of the Investments and Securities Acts.

    Justice Baba-Yusuf noted that the evidence of the first prosecution witness, who was an officer in SEC’s Legal Department, conflicted with evidence of the third and fourth prosecution witnesses.

    The judge said the first prosecution witness agreed that the payment made to Gwarzo was based on a board resolution, and was therefore correct, since the board was the highest-decision making body of the commission.

    He said: “The payment was alleged to have been made without authority, but it turned out to have been made upon a resolution of the board of SEC, which is the highest decision making body.”

    The judge held that there was evidence showing that the N10m car grant Gwarzo got was part of Gwarzo’s entitlement, but that the prosecution failed to prove that he “was instrumental or played active roles in the preparation for the voucher for the payment”.

  • Lawmakers compromise oversight, probes, says ICPC chairman

    The Chairman, Independent Corrupt Practices and other related Offences Commission (ICPC) Professor Bolaji Owasanoye has accused members of the National Assembly of compromising their major constitutional functions of oversight and investigation most times.

    The ICPC chief claims such compromise is done through commercialization of the legislators’ assignments.

    “Oversight function has been commercialised, which is why the mechanism hasn’t been effective. Legislature is accused of passing the costs to MDAs and of accepting other forms of gratification, e.g. foreign trips, phoney seminars, to look the other way,” the ICPC chairman said in a paper entitled ‘The Role of the Legislature in the War Against Corruption and Graft’ at the induction course for the second batch of elected members of the coming 9th Assembly.

    He added: “the legislature has powers of investigation: this was very well utilised in the past. But many other times, the power is commercialised.

    “You find out that the investigators become compromised in the process. There’s lacuna on what the legislature should do with the findings.

    Read also: Adamawa APC endorses Lawan, Gbajabiamila for NASS leadership

    “We should avoid a situation where because people are being investigated, they come to say they want to change the laws to forestall that. I want to urge the lawmakers not to support that.

    He challenged the lawmakers to make the details of their budget public.

    His words:”since 1999, the Nigerian Legislature has never shown any seriousness in scrutinising the reports of the auditor general. NASS Budget rose from N6.9bn in 1999 to N139bn in 2018.

    “There’s no country in the world where the legislature budget is up to one percent.

    “There’s no breakdown for the amount. It is opaque and disproportionate. If you make the details, it may even lead to the need for more funds. Why would the legislature demand the details of agencies’ budgets without making its own open?”

     

  • National Assembly members compromise oversight, probes, says ICPC chairman

    The Chairman, Independent Corrupt Practices and other related Offences Commission (ICPC) Professor Bolaji Owasanoye has said that members of the National Assembly most times compromise their major constitutional functions of oversight and investigation.

    The ICPC chairman noted that as a result of the comprise, especially through commercialisation of their activities, the member lack the will to carry out their constitutional roles of oversight

    Professor Owasanoye stated this while delivering a paper titled ‘The Role of the Legislature in the War Against Corruption and Graft’ on the last day of the induction course for the second batch of elected members of the coming 9th Assembly.

    He said “We should avoid a situation where because people are being investigated, they come to say they want to change the laws to forestall that. I want to urge the lawmakers not to support that.

    Read also: ICPC docks Education Ministry’s director over N162m fraud

    “Oversight function has been commercialised, which is why the mechanism hasn’t been effective. Legislature is accused of passing the costs to MDAs and of accepting other forms of gratification, eg foreign trips, phony seminars, to look the other way.

    “The Legislature has powers of investigation: this was very well utilised in the past. But many other times, the power is commercialised. You find out that the investigators become compromised in the process. There’s lacuna on what the legislature should do with the findings,” he said.

    The ICPC chairman also challenged the lawmakers to make the details of their budget public.

    “Since 1999, the Nigerian Legislature has never shown any seriousness in scrutinising the reports of the auditor general. NASS Budget rose from N6.9bn in 1999 to N139bn in 2018.

    “There’s no country in the world where the legislature budget is up to one percent. But the question is there’s no breakdown for the amount. It is opaque and disproportionate. If you make the details, it may even lead to the need for more funds. Why would the legislature demand the details of agencies’ budgets without making its own open?”

  • ICPC docks Education Ministry’s director over N162m fraud

    A Director in the Federal Ministry of Education, Mr. Victor Igboanugo, has been arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over alleged contract scandals worth about  N162m.

    He was also put on trial over ownership of property valued way above his legitimate income.

    But Justice V, B. Ashi of the Federal Capital Territory High Court has ordered the seizure of the accused person’s international passport in order to restrict his movement to the country.

    A statement by the Spokesperson of ICPC, Mrs. Rasheedat A. Okoduwa (mni) said the accused person was ordered to deposit his passport with the court registrar

    According to ICPC, Igboanugo, who had worked at various times in the Ministries of Environment and Niger Delta Affairs,  is facing a 17-count charge before Justice V.B. Ashi of the Federal Capital Territory (FCT) High Court 23, Apo, Abuja.

    The statement said: “The charge, which borders on abuse of office and conferring undue advantage upon himself, amongst others, contravenes sections 10, 12 and 19 of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under the same sections.

    “ICPC counsel, Henry Emore, told the court that Mr. Igboanugo, while being the Secretary of the Ministerial Tenders’ Board at the Ministry of Environment, facilitated the award of multiple contracts to “private companies where he held personal interests.

    The court also heard that the accused, while acting as a Deputy Director of Procurement at the Ministry of Niger Delta Affairs, bought a property in the United States of America for $140, 000, a sum way above his legitimate income.

    Read Also: ICPC tasks NASS on transparency

    “He was further accused of receiving N20 million kickbacks through one of his companies, Phinavic Ventures Ltd, from the Chief Executive Officer of Lufem Engineering Ltd, Mr. Asiwaju Adekanbi Femi, after the award of contract for the construction of a skill acquisition centre.

    Part of the charges reads; “That you Engr. Victor Igboanugo (M) sometime in October, 2008 or thereabout at Abuja, Federal Capital Territory while being a public officer used your position as Deputy Director and Secretary of the Ministerial Tenders’ Board of the Federal Ministry of Environment to confer corrupt advantage upon yourself by awarding a contract for the construction of  three bedroom semi-detached bungalow at Prototype Housing Scheme, Asaba, Delta State to your company, Echedom Technical & Trading Co. Ltd for a contract sum of Ten Million Five Hundred Thousand naira only (N10,500,000:00) and you thereby committed an offence punishable under Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.”

    The defendant pleaded not guilty to the 17-count charge leveled against him and the defence counsel put in their application for bail which was not opposed by the prosecution.

    Justice Ashi, granted the accused bail in the sum of N2 million with one surety in like sum who must be an officer not below Grade Level 14 in the Federal Civil Service.

    He also ordered the accused to submit his international passport to the court registrar.

    The case was adjourned to 19th June, 2019 for trial.