The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has questioned two officials of the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation (OAGF) over $3.4 billion loan allegedly granted to Nigeria by the International Monetary Fund (IMF).

Naija News reports that the anti-graft agency has also invited another set of officials from the Federal Ministry of Finance for interrogation.

Recall that the Socio-Economic Rights and Accountability Project (SERAP) has approached the court over what it alleged as “the failure to probe the grim allegations that the $3.4 billion” was missing.

SERAP, in a statement to Naija News, said it had filed a lawsuit against President Bola Ahmed Tinubu for failing to probe the $3.4 billion loan that was either “missing, diverted or unaccounted for.”

It said its lawsuit was in line with Section 16(1) and (2) of the 1999 Constitution.

The organization also said it sued the President, having taken cognizance of articles 5, 9, and 26v of the UN Convention Against Corruption.

But speaking to The Nation, a source disclosed that the ICPC has retrieved vital documents on the loan, which was meant to finance the budget and to manage COVID-19, adding that the probe of the loan was already in progress.

The source said: “ICPC has launched a comprehensive investigation into the $3.4 billion loan. The commission began the probe after it had reviewed the report of the Auditor-General of the Federation. Our investigators are trying to establish if the cash was missing, diverted, or unaccounted for.

“The documents relating to the loan were retrieved from the CBN, the OAGF, and the Ministry of Finance.

“Some CBN and OAGF officials were interviewed, and the officials of the Ministry of Finance will be interviewed in the coming (this) week.

“Documents retrieved and statements from the officials of the OAGF revealed that the utilisation of the funds were as directed by the Ministry of Finance.

overlay-clevercloseLogo
“Investigation is ongoing into the various approval and utilisation of the funds by the beneficiaries.”

The Minister of Works, David Umahi has shared his thoughts on the reason the Southeast will not protest against President Bola Tinubu’s administration despite the economic hardship in the country.

Umahi asserted that Tinubu has resolved the incessant farmers/herders clashes in the region.

He stated this while addressing newsmen at his Uburu hometown in Ohaozara Local Government Area of Ebonyi State.

According to him, the clashes contributed to the insecurity in the area and affected food production, leading to hunger in the land.

The Minister argued that the high cost of living was a ripple effect from the past administrations’ actions and inactions.

He, however, explained that the President has started resolving the situation.

The Minister said Tinubu’s administration has favoured the Southeast greatly through appointments to key positions, including himself, the first Minister of Works from the Southeast.

He said the administration has been doing many projects in the region, adding that with all these, the Southeast has no moral justification to join those protesting against the President over the high cost of living in the land.

Umahi urged residents of the region not to be lured by any group or other regions to join any protest against the President.

According to him, “The present hunger that everybody is talking about didn’t start today. It’s a built-up to a number of factors. Before the past administration and present administration, we had been having a build-up of insecurity. We had farmers/herders clashes over a number of years.

“At a time, I was the Chairman of NEC committee on resolving farmers/herders clashes. So, I went through a number of states, especially the northern states, settling the farmers/herders clashes, and it yielded a number of fruits.

“That problem dealt a huge blow to food production. The issue of kidnapping and the issue of insecurity prevented farmers from going to their farms because here we are talking about hunger.

“And so, you expect the administration of President Tinubu to fix all those things within nine months? It’s not possible. It’s a cumulative effect of the past, like I have mentioned. We should be asking ourselves: how do we solve these problems? That’s what the President has started doing. When something has got to the climax, you don’t expect to resolve it overnight.

“If you check very well, especially in the Southeast, you will know that we no longer have incessant farmers/herders clashes. So, why should we join the protest when the President has solved our major problem? The problem we now have in the Southeast is self-inflicted. That is the issue of unknown but known gunmen.

“So, if we are protesting, who are we protesting against? We are protesting against a President that has solved herders/farmers clashes. If you remove the issue of unknown gunmen, the Southeast will be completely safe and farmers can work. So, we can’t go and join anybody to protest.”

A group of Muslims in Zaria, Kaduna State, worried by the disturbing economic hardship in Nigeria, have organized a unique prayer session to seek Allah’s help in alleviating the current challenges.

Naija News understands that the special prayer took place at Mallawa Eid praying ground in Zaria and was attended by both men and women from various parts of the town.

During the prayer, the Chief Imam of Bakin Kasuwa Jumaat Mosque (Tudun Wada), Mallam Muhammadu Sani Labudda, emphasized the severity of the present challenges and the urgent need for Allah’s intervention.

The cleric highlighted the critical situation in the country, stressing the importance of collective prayers, especially as the prices of essential goods continue to rise, with the holy month of Ramadan approaching.

“This is the time when people should come together to strengthen their faith and improve on their worship so that Allah can bring succour to the populace,” Daily Trust quoted the Head of Islamiyya Schools association in Zaria, Suleiman Ibrahim, to have said shortly after the prayer session.

Suleiman also emphasized the significance of Muslims prioritizing charitable giving to the less fortunate and those in need while abstaining from committing any sins as a means of seeking forgiveness.

Speaking on the situation earlier, Sheikh Muhammadu Dan Tine Habibi and Umar Dikko Mai shinkafa of Fitiyanul Islam Zaria, highlighted the wisdom and importance of offering special prayers during times when the society encounters unresolved difficulties.

They urged Muslims to constantly have the fear of Allah in their actions and to seek repentance for their sins as an additional method of invoking divine intervention.

See more photos from the prayer session below:

:

…No account blocked yet–DMBs

…Technical hitches sabotaging NIN linkage, customers cry out

…Give customers more time –BCAN

ABOUT 91 million bank accounts are at risk of being frozen following the March 1 expiration deadline given by the Central Bank of Nigeria (CBN) to commercial banks to get all accounts linked with customers’ Bank Verification Number (BVN) or National Identity Number (NIN).Daily Sun learnt that many banks sent fresh and final reminders to depositors at the weekend urging them to use various digital platforms to regularize their accounts or visit any of
their branches to achieve that.

The CBN directed banks to restrict tier-1 accounts or wallets without NIN or BVN in a notice on December 1, 2023 signed by the Director of Payments System Management Department, Chibuzo Efobi and Director of Financial Policy and Regulation Department, Haruna Mustapha. The statement said; “For all existing Tier-1 accounts/wallets without BVN or NIN: Effective immediately, any unfunded account/wallet
shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied.
“Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’, and no further transactions will be permitted. The BVN or NIN attached to and/ or associated with all accounts/wallets must be electronically revalidated by January 31, 2024. In response to the directive, Nigerian banks sent out notifications to customers and urged them to come forward and update their bank account information with their BVN/NIN before Friday, March 1, 2024,deadline.

The banks warned that customers who fail to provide the required information risk being unable to carry out transactions. While the CBN has not officially spoken on the fate of customers whose accounts are without NIN or BVN, many depositors are panic-stricken as they flood various banks to sort out the issue. The Nigeria InterBank Settlement System (NIBSS) revealed that BVN linked accounts stood at 60,492,104 million as at January 26 march.

[Sun]

National Emergency Management Agency (NEMA), has said the looted warehouse in Abuja, yesterday, does not belong to the agency as was reported in some sections of the media.

It was earlier reported that residents of the Federal Capital Territory yesterday looted a warehouse reportedly belonging to a government agency, with some reports alleging that the warehouse belonged to the National Emergency Management Agency over the current economic hardship across the country.

Hoodlums broke into a government storage facility in Gwagwa town in the Federal Capital Territory (FCT) yesterday, and looted stored food items. Some residents said youths in their number broke into the warehouse located around Tasha area of the community around 7 am, looting bags of maize and grain.

Some residents said youths in their number broke into the warehouse located around Tasha area of the community around 7 am, looting bags of maize and grain. A resident, Jaafar Aminu, said the looting continued unhindered till 9 am.

He said some residents as well as persons from neighbouring Jiwa and Karmo town trooped towards the site with the intention of partaking in the loot.

He said the situation has caused a grid lock on Gwagwa-Karmo road, that leads to Dei-Dei and Jabi axis, respectively.

However, NEMA, in a statement by Ezekiel Manzo, said: “The attention of the National Emergency Management Agency (NEMA), has been drawn to media reports on Sunday alleging that the Agency’s warehouse was looted by some hoodlums in Abuja.

“This is to clarify that the looted warehouse does not belong to NEMA. However, the agency sympathizes with owners of the looted facility.”

He said, “To forestall any security breach at NEMA facilities, the director general, Mustapha Ahmed has directed zonal directors and heads of operations to strengthen security in and around the Agency’s offices and warehouses nationwide.”

[Leadership]

Salihu AbdulHadi Kankia, a member of the First Aid Group of Jama’atu Izalatil Bid’ah Wa Iqamatus Sunnah (JIBWIS), was showered with rewards for returning a lost bag containing over N100 million.

The recognition came during the closing ceremony for Islamic scholars  presenting this year’s Ramadan Tafsir in Bauchi.

Engr Mustapha Imam Sitti, National Director of the First Aid Group who introduced Kankia commended him for the act.

In a post published on its Facebook page, the Bauchi State branch of JIBWIS said, “Kankia found a bag containing a large sum of money, exceeding one hundred million naira.

“Instead of keeping it for himself, he rushed to the police station and reported his discovery, the police successfully located the owner, who upon verifying the contents, confirmed nothing was missing.”

The post added that “Kankia’s honesty didn’t go unnoticed, The Izala group honored him with an award and sponsored his Hajj pilgrimage this year.

“Additionally, Hon. Abdulmalik Zannan Bangudu, a member of the Zamfara State Assembly, gifted him two million naira.

“Governor Bala Abdulkadir Mohammed of Bauchi State also presented Kankia with a bus to kickstart a business venture.”

[Dailytrust]

The Inspector-General of Police, IGP, has told a Federal High Court in Abuja that the military forcefully took away some suspects allegedly involved in oil bunkering from police custody.

Counsel to the IGP, Idris Mohammed, revealed this to Justice James Omotosho when the matter was called for the alleged oil bunkerers to take their plea in a five-count criminal charge filed against them.

The IGP had, in an earlier charge marked: FHC/ABJ/CR/60/2024, listed 19 alleged oil bunkerers for prosecution.

They include MT Harbor Spirit, Muhammad Malik Sidique, Joju Oil and Gas Ltd, Shittu Joseph, Enudi Kenneth Amechi, Jeremiah Oberhiri Nyohe, Abiodun Kolapo Joseph, Razaq Mahmud, Onwe Jonas Egana, Jeremiah Fezighe Gilbert as 1st to 10th defendants.

Also joined in the criminal charge dated and filed February.15 are Idon Simeon Amon, Adedeji Nathaniel Thomson, Effiong Ekpo Otu, Preye Moses Egbuson, Opoufoni Owei, Abiodun Razaq, Youngstar Amon, Collins Ebuka Eluche and Taiye Rashid Balogun as 11th to 19th defendants respectively.

However, the police, in an amended charge dated and filed February 28, brought criminal charges against only MT Harbor Spirit, a Vessel, Muhammad Malik Sidique and Joju Oil and Gas Ltd as 1st to 3rd defendants, respectively.

In the amended charge, count one read that MT Harbor Spirit, Muhammad Malik Sidique, Joju Oil and Gas Ltd and the 4th to 19th defendants in the earlier charge (now at large) “on February 4, 2024, in the Deep Sea in Ogbogoro Oil Field, Brass Area of Bayelsa State, conspired” to tamper with oil pipeline for the transportation of crude oil.

The offence, according to the prosecution, is punishable under Section 1(7) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria 2004.

In count two, the defendants and others now at large were alleged to have on February. 4 in the Deep Sea in Ogbogoro Oil Field, Brass Area of Bayelsa State, wilfully tampered with OML 59, Ogbogoro 001 Oil Field, operated by ELF for the transportation of crude oil.

In count three, the defendants were alleged to be dealing in about 80, 000 litres of crude oil without lawful authority or appropriate license.

Count five accused the defendants of storing about 80, 000 litres of crude oil in MT Harbour Spirit Cargo Tanks in the Deep Sea in Ogbogoro Oil Field without appropriate licence contrary to Section 4 of the Petroleum Act, Cap P10, Laws of the Federation of Nigeria, 2004.

However, at the point of taking their plea, the IGP’s lawyer, Mohammed, informed the court that Muhammad Malik Sidique was the only defendant in court.

He said though a five-count charge dated and filed on February 15 was preferred against 19 defendants and that the 4th to 19th defendants were forcefully taken away by the armed forces during one of their visits to their custody.

The lawyer prayed the court to issue warrant of arrest against the 4th to 19th defendants who he alleged were at large.

But Justice Omotosho faulted Mohammed for claiming that the 4th to 19th defendants were at large when he had earlier told the court that the armed forces forcefully took them away.

The judge frowned at the abuse of the word “at large” adding that such words are used for suspects or defendants whose whereabouts are unknown.

“With what you have said that the armed forces took them to their custody, are they at large? At large is when somebody cannot be traced,” the judge said.

The IGP’s lawyer, thereafter, sought the leave of court to amend the amended charges in open court.

But the judge observed more anomalies with the charge sheet and then ordered the prosecution to go and put his house in order.

“Go and serve them there (at the military custody) and bring them or you remove their names from the charge. We are here for justice. I don’t know them,” he directed.

The IGP’s lawyer, then, told the judge that the police did not hand over the defendants to the military, rather, they forcefully took them away from their custody.

Counsel for the defendants, Michael Mbanefo, did not oppose to the further amendment of the charge.

However, Mbanefo urged the court to direct the prosecution to agree with him and grant Sidique administrative bail because he had been in custody since his arrest.

But Justice Omotosho declined, saying “the court does not grant administrative bail”.

Justice Omotosho thereafter adjourned the arraignment of the alleged oil bunkerers til March 6.

[DailyPost]

Femi Falana, senior advocate of Nigeria (SAN), has challenged the federal government to confirm or deny if petrol subsidy has been restored.

During his inauguration on May 29, 2023, President Bola Tinubu announced the removal of the petrol subsidy.

This development has worsened the living conditions of Nigerians, as the disposable income of citizens continues to decline due to inflation.

In a statement on Sunday, Falana said Robert Dickerman, chief executive officer of Pinnacle Oil, claimed at a conference in Abuja that the federal government still pays N1 trillion every month for petrol subsidy.

The human rights activist said instead of urging Nigerians to continue to endure the hardship caused by the removal of subsidies on petrol, the president should go public about the state of the economic policy.

“During his inauguration on May 29, 2003, President Bola Tinubu announced the end of fuel subsidies and total deregulation of petroleum products. But at the recently concluded Nigeria International Energy Summit (NIES) held in Abuja, the Chief Executive Officer and Managing Director of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman revealed that the Nigerian Government still pays N1 trillion every month for petrol subsidy,” the statement reads.

“Mr. Dickerman who made the disclosure while participating in a panel discussion disclosed that a significant subsidy is still in place, adding that this has contributed to the affordable price of the product and potentially fueling smuggling activities to neighbouring countries. 

“On its own part, the World Bank has alleged partial return of fuel subsidy in a report presented in Abuja last December. In justifying its claim then, the World Bank said that based on the official exchange rate then, the petrol should sell for around N750 per litre and not the N650 currently being paid by Nigerians.

“Curiously, the Nigerian National Petroleum Corporation Limited has not deemed it fit to deny the serious allegation that fuel subsidy has been restored. Since there is no provision for fuel subsidy in the 2023 and 2024 Appropriation Acts, the federal government should, without any further delay, confirm or deny the serious allegation and end the opacity surrounding the importation of fuel from foreign countries.”

Falana also cited a February 2024 report by the International Monetary Fund (IMF) advising the Nigerian government to completely phase out petrol and electricity subsidies in the country despite the president’s announcement.

[TheCable]