The Nation Newspaper

Tag: public funds

  • Buhari: I won’t approve public funds for campaigns

    President Muhammadu Buhari reiterated his commitment to the elimination of corruption in campaign financing, saying he will not authorise the use of funds from the public treasury for his re-election campaign.

    Dr. Saraki, who is the campaign director for the Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar, condemned what he called the stifling of financial institutions from supporting political campaigns.

    Buhari spoke after of the Federal Executive Council (FEC) meeting. Saraki spoke on a Channels Television programme One-on-One monitored in Lagos.

    The President directed Council members to take advantage of technology to reach out to voters on the need to return the All Progressives Congress (APC)-led administration in the forthcoming general elections.

    In a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President said: “As political parties spread their ideologies and views to every nook and cranny of the country, the issue of cash payment to voters and its corrupting influence in electioneering has once again become a topical issue.

    “Try and use text and multi-media messages to seek votes for the party and government. There is no money from the treasury for use in the campaigns. I will not authorise that,” he said.

    President Buhari declared that the APC-led administration has a clear development agenda best suited to take Nigeria forward and sustain economic development.

    He was quoted as saying: “This message needs to be taken to all Nigerians but we cannot use money from the treasury to share out to prospective voters.

    “Nigerians want change and we alone can deliver that change. Our people can no longer be swayed by money politics.”

    The President also used the occasion, which was a valedictory session for the Minister of State, Foreign Affairs, Hajiya Khadija Bukar Abba Ibrahim, to wish her success in her electoral contest.

    The minister had signified her desire to leave the cabinet, in line with existing regulations, to run for a legislative seat in her native Yobe State.

    Speaking on the television programme, the Senate accused the Federal Government of frightening financial institutions from funding campaigns.

    According to him, most business communities are afraid to come to participate in election campaigns.

    He debunked insinuation that the PDP had gone out of cash to fund its presidential election camapigns.

    Rather, he described the Muhammadu Buhari-led government as “grossly intolerance.”

    His words: “The atmosphere does not allow what people are used to. Activities are not as buzzling as we usually witnessed in the past. The funding environment has changed.

    “The government is hounding financial institutions funding campaigns. Business communities that are donating to campaigns are being scared away. The environment we are seeing is not like an environment practising democracy. The government is scaring a lot of people away.”

    According to him, the Atiku Abubakar Campaign Organisation is devising many tactics of passing the messages to the people.

    The opposition party, he claimed, was competing with the ruling APC and security agencies.

    “We can’t allow a situation whereby security personnel will prevent people from voting,” he said.

    Saraki insisted that Nigerians are not better off under the present administration compare to the PDP era before 2015.

    ”This campaign should not be on sentiment. The APC-led government has failed. About 20 million jobs have been lost under this administration. Over 80 million Nigerians are living under poverty line.

    “There is no way out because this government has shown no direction. If you cannot create more jobs, don’t let people lose their jobs,” he said.

    He described government’s admission of 50 million litres as daily oil consumption as a big fraud, saying “there is no way we can consume such amount of fuel. This is a new corruption. It is a huge leakage. If we disagreed with Goodluck Jonathan administration’s 20.3 million daily consumption of fuel, this is another bigger corruption under this government. Things are even gone worse.”

    According to him, revenue collections showed that there were lots of leakages in the government.

  • DSS uncovers scheme in NNPC for diverting public funds

    DSS uncovers scheme in NNPC for diverting public funds

    •Over N15b diverted, says agency
    •Operatives arrests one, trails senior officials

    THE Department of State Services (DSS) has unearthed a well perfected scheme involving officials of the Nigerian National Petroleum Corporation (NNPC) through which they allegedly divert proceeds of petroleum products sold to oil marketers.

    The Nation learnt that investigation so far, by the SSS revealed that the scheme, which exist in an arm of the NNPC called:  NNPC Retail Limited, involved some senior officials, who employ some junior officials to perpetrate the fraud.

    Investigation revealed that the scheme is operated with the connivance of some senior officials, who engage officials attached to the “Cash and Carry Team” of the NNPC Retail Ltd, who give out petroleum product to marketers on credit and supply them with private bank accounts into which the marketers make payment.

    The DSS said the scheme, which has been operated for some time now, has cost the country over N15 billion (N15, 252,456,766).

    It said it has arrested one of the main operators of the scheme, whose name it gave as Abdullahi Muktar.

    The agency described Muktar as a 36-year-old, who had his youth service in NNPC between 2007 and 2008 before he was retained and attached to the “Cash and Carry Team” of the NNPC Retail Ltd.

    The DSS made this known in an application it filed before the High Court of the Federal Capital Territory (FCT) for an order permitting it to detain Muktar pending the conclusion of investigation.

    It said the detention of Muktar (named as respondent in the application) was necessary because it was currently trailing others, who benefited from the scheme, some of whom are senior officials of the NNPC.

    The agency, in a supporting affidavit to the application, said: “The respondent connived with others, who are still at large, to defraud the NNPC money running into 15, 252,456,766. The respondent works in the NNPC Retails Limited.

    “Having done his compulsory national youth service in that unit of the NNPC in 2007 and 2008, he was retained. And later co-opted into the Cash and Carry Team in 2011.

    “In the Cash and Carry Team, he was responsible for confirming orders and releasing products to all oil marketers,” it said.

    It stated that Muktar connived with others and all the monies from petroleum products, in respect of which he confirmed orders and released to marketers were paid into his personal account.

    It added that: “He (Muktar) and his accomplices have defrauded the Federal Government of billions of naira. Their action constitutes economic threat of national security dimension.

    “The respondent has made useful voluntary statement that is assisting the applicant in the investigation. The respondent is 36 years old with millions of naira in his various accounts,” the SSS said.

  • How Oronsaye diverted public funds, by witness

    How Oronsaye diverted public funds, by witness

    A High Court of the Federal Capital Territory (FCT) in Maitama, Abuja heard yesterday how former Head of Service of the Federation (HOSF), Steve Oronsaye allegedly diverted public funds for personal use.

    An operative of the Economic and Financial Crimes (EFCC), Hamman Adama Bello, who gave details of the alleged diversion by Oronsaye, also told the court that the ex-HOSF invested public funds for personal benefit, without du authorisation.

    Bello, who accused Oronsaye of receiving N45million from the office of the national Security Adverser (NSA) while Sambo Dasuki was in office, also told the court how former Finance Minister, Ngozi Okonjo Iweala overruled Oronsaye’s suggestion to ex-President Goodluck Jonathan to direct some government agencies to fund the activities of the Presidential Committee of Financial Action Task Force (PCFATF), which he (Oronsaye) headed.

    The EFCC official, who testified at the resumed hearing in Oronsaye’s trial, was led in evidence by lead prosecution lawyer, Offen Uket.  He told the court that Oronsaye allegedly made false representation to some government agencies, from which he got funds which he converted to personal uses.

    Oronsaye is facing a seven-count  amended charge in which he is among others, accused of criminal breach of trust for allegedly converting about N382.9m belonging to the PCFATF to his personal use while he headed it between between 2013 and 2015.

    The prosecution alleged that Oronsaye sourced about N382.9m from the Central Bank of Nigeria (CBN) and the office of the NSA in the name of the PCFATF and deposited it in a secret account with Access Bank Plc, without the knowledge of other members of the committee.

    Oronsaye was said to have invested the money at  between 9 and 9.5 per cent interest rate in the said secret account which he allegedly opened and operated unilaterally as the sole signatory, without the knowledge of other members of committee.

    The prosecution said the only account of the PCFATF known to all members of the committee and which Oronsaye and the then Secretary to the committee, Jalal Arabi (now Permanent Secretary, Presidential State House) were its co-signatories, was the one kept with Zenith Bank Plc.

    By his alleged acts Oronsaye is said to have committed offences contrary to Section 311 and punishable under Section 315 of the Penal Code Act.

    In his testimony yesterday, Bello said Oronsaye made request for additional funding from the CBN, without the knowledge of members of his committee, even when there was no need for such additional funds.

    Bello said: “Again, the defendant (Oronsaye) forwarded a request for more funding, but suggested to then President Goodluck Jonathan that the regulatory agencies, like the CBN, Security and Exchange Commission (SEC), Nigeria Deposit Insurance Corporation (NDIC), and others, who will, in turn be the beneficiaries of the committee’s work, should be made to fund the activities of the committee. The defendant failed to mention to the President the fact that he had already received some funds from the CNB.

    “The then Minister of Finance, Dr. Ngozi Okonjo-Iweala was asked to advise the President. Investigation revealed that she clearly disagreed with the position of the defendant and advised that the committee should be funded from the Presidency, while the remnant of their request be forwarded to the Budget Office.

    “Investigation showed that money was never a problem for the committee as shown by the account statement of the committee’s account with Zenith Bank Plc. But even with this, the defendant made sure whenever a problem was solved for the committee by the Presidency, he presented the same problem to the CBN to address and get parallel funding in the Access Bank account,” Bello said.

    The witness, who said investigation also revealed that the account Oronsaye allegedly opened secretly in Access Bank, and into which he paid funds from others sources other than the Presidency, was operated by him and his personal aides.

    He said the committee was well funded by the Presidency, through the office of the Accountant General of the Federation (AGF) to the extent that it lacked nothing, a development that made his investigating team to conclude that Oronsaye’s request to the CBN “was not only improper, but fraudulent.”

    The witness said further investigation revealed that Oronsaye wrote on March 25, 2013 to the CBN, requesting for N164,525,000 an amount similar to the committee’s budget for the year, which the Presidency had approved and disbursed to the committee in full.

    On how Oronsaye allegedly disguised his operation of the Access Bank account, the witness said he utilised the services of his personal aides, who made withdrawals on his behalf.

    Attempt by the prosecution to tender the letter from the SGF was rejected by the defence led by Kanu Agabi (SAN).

    Trial judge, Justice Olasunbo Goodluck in a ruling upheld Agabi’s objection to the admissibility of the document and rejected it. The judge  adjourned further hearing to June 28.

     

  • Stop diversion of public funds, cleric urges politicians

    Stop diversion of public funds, cleric urges politicians

    Political leaders have been urged to eschew corruption and inordinate diversion of public funds which have stifled the nation’s development.

    The Pastor-in-charge of Province 9 the Redeemed Christian Church of God (RCCG), Pastor Remi Oluboba, stated this at the July meeting of RCCG’s Christ Redeemers Friends International in Lagos.

    Oluboba, who lamented how bitter jostle for power in the country, said Nigeria would be a better place to live if politicians across put the people first and seek power for the purpose of solving national challenges.

    He called on politicians to play by the rule and eschew

    corruption if they ever wanted the nation to grow.

    While speaking on work life balance for executives, the provincial pastor said all men must live by godly principles to ensure they balance the pressure of work and life’s challenges.

    Expatiating on Ecclesiastes 3:1, Oluboba said though life is a bowl of conflicts and stress, the latter occurs when competing forces interfere with what man sets out to do.

    To avoid the stress that attends the conflicts of life and work, all executives must keep track of their time, set prioritize, and always re-evaluate them while always focuing on one thing at a time, he charged.

    “Besides all of these, you must respect your private time, constantly examine your personal habits to remove negative habits, take a holiday, when you take your family out on holiday and set time apart for physical exercises,” he advised.

    CRFI’s President Hon. Kayode Aremo said the association, which was an initiative of the RCCG General Overseer Enoch Adejare Adeboye is targeted at drawing the elites and captains of businesses to Christ.

    He said the group, which has continued to deliver on its mandate, would keep drawing businessmen and women closer to God, using referrals from members who are encouraged to preach Christ while networking with their colleagues and fellow business associates.