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Tag: Nigeria

  • Alleged N80.2billion Money Laundering: EFCC Arraigns Yahaya Bello April 18

    Alleged N80.2billion Money Laundering: EFCC Arraigns Yahaya Bello April 18

    Alleged N80.2billion Money Laundering: EFCC Arraigns Yahaya Bello April 18

    The Economic and Financial Crimes Commission, EFCC, will on Thursday, April 18, 2024 arraign a former governor of Kogi State, Yahaya Adoza Bello before a Federal High Court sitting in Abuja.

    He will be arraigned before Justice Emeka Nwite alongside three other suspects, Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19- count charges bordering on money laundering to the tune of N80, 246, 470, 088.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo).

    Bello’s arraignment is coming on the heels of a warrant of arrest and enrolment order granted the EFCC by the court on Wednesday, April 17, 2024.

    Count one of the charges reads: That you, Yahaya Adoza Bello, Ali Bello, Dauda Suliman, and Abdulsalam Hudu( Still at large), sometime, in February, 2016, in Abuja within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of N80, 246,470, 088.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended”.

    Count 17 of the charges read: “That you Yahaya Bello between 26th July 2021 to 6th April 2022 in Abuja within the jurisdiction of this Honourable Court aided E-Traders International Limited to conceal the aggregate sum of N3, 081, 804,654.00 (Three Billion, Eighty One Million Eight Hundred and Four Thousand Six Hundred and Fifty Four Naira) in account number 1451458080 domiciled in Access BankPlc, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a), 15(2) (d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15 (3) of the same Act.

    Count 18 of the charges reads: “That you Yahaya Adoza Bello sometime in November 2021 in Abuja within the jurisdiction of this Honourable Court indirectly procured E-Traders international Limited to transfer the aggregate sum of $570,330.00 (Five Hundred and Seventy Thousand, Three Hundred and Thirty Dollars) to account number 4266644272 domiciled in TD Bank, United States of America which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 15(2) (d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15( 3) of the same Act”.

    The Commission’s attempt to execute the Warrant of Arrest lawfully obtained against Bello met stiff resistance on Wednesday, April 17, 2024. The security cordon around the former governor’s residence in Abuja was breached by the current Governor of Kogi State, Usman Ododo who ensured that the suspect was spirited away in his official vehicle. As a responsible law enforcement agency, the EFCC exercised restraint in the face of the provocation, waiting for his arraignment on Thursday, April 18, 2024.

    It is needful to state that Bello is not above the law and would be brought to justice as soon as possible.

    Visit www.efcc.gov.ng for more stories


  • Depleted Reserves Used To Settle Debts Owed International Creditors, Not To Defend Naira–Cardoso

    The recent depletion of the nation’s foreign reserves was used to settle debts owed to international creditors and not to defend the naira as widely claimed.

    The Central Bank governor, Olayemi Cardoso, said this at the ongoing International Monetary Fund Spring Meetings held in Washington D.C on Wednesday.

    There had been concerns over the significant downturn of the country’s exchange reserves, plunging by approximately $2.16bn in 29 days, amidst robust efforts to stabilise the naira.

    He said, ”I want to make this as clear as possible, it is not in our intention to defend the naira. and as much I have read in the recent few days, some opinions with respect to what is happening with our reserves and if the central bank is defending the naira.

    “What we have seen with respect to the shift in our reserves is the shift that you would find in any country where for example, debts are due and certain payments need to be made and they’re done because that is also part of keeping your credibility intact.”

    Data on the movement of foreign reserves obtained from the CBN website showed that as of April 15, 2024, the FX reserves was $32.29bn, which is a decline from $34.45bn recorded on March 18, 2024.

    The decline marks the lowest in six years and it is a decisive end to a period of steady accrual, during which the reserves witnessed a 43-day surge, accruing $1.28bn between February 5 and March 18, 2024.

    But speaking at the event, Cardoso said the depleting external reserve is due to debt repayments, other obligations, and depletion due to the ordinary course of business as seen in other countries.

    He also stated that there were no intentions to defend the currency with the external reserves, as it was counterintuitive

    Depleted Reserves Used To Settle Debts Owed International Creditors, Not To Defend Naira–Cardoso is first published on The Whistler Newspaper

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  • Atiku and Wike attend PDP National Caucus meeting

    Atiku and Wike attend PDP National Caucus meeting

    The Presidential Candidate of the Peoples Democratic Party (PDP) in the 2023 general elections, Atiku Abubakar and the Minister of the Federal Capital Territory, Nyesom Wike, attended the PDP’s national caucus meeting in Abuja this evening, April 17.

     

    The meeting comes ahead of the party’s National Executive Committee meeting, scheduled to take place on Thursday, April 18.  This is the first time that the former Rivers state governor will be attending a meeting of the PDP since after the presidential election last year. Wike has been at loggerheads with the PDP leadership and did not support the party’s candidate, Atiku, in the 2023 presidential election.

     

     

     

    Apart from his opposition to Atiku’s campaign in the election, Wike’s decision to serve in the President Bola Tinubu cabinet, had worsened the rift between him and key stakeholders in the part.

     

     

    Critical decisions regarding the leadership of the party and other issues such as Wike’s activities in the party will he discussed at the NEC meeting scheduled for tomorrow.

    Atiku and Wike attend PDP National Caucus meeting
    Atiku and Wike attend PDP National Caucus meeting
    Atiku and Wike attend PDP National Caucus meeting

     

     



    Source

  • Kaduna House Of Assembly Begins Probe Of Alarming Loans Taken By Ex-Gov El-Rufai

    The Kaduna State House of Assembly has set up a 13-man committee to probe the financial dealings, loans, grants and other project implementations from 2015-2023 under former Governor, Nasir El-Rufai’s tenure.

     

    The House also mandated the committee to invite notable personalities that served during the period, including contractors, to explain how the loans and grants received during the period under review were spent.

     

    The Chairman House Committee on Public Accounts, who is also the Deputy Minority Whip, Honourable Mugu Yusuf, moved the motion, saying the public needed to know what actually happened during that period.

     

    According to him, he moved the motion following the horrific comment made by the state governor, Uba Sani, on March 28, 2024, on the financial situation of the state.

     

    “People cast aspersions on the governor and the office, which is unfair. So as chairman House committee on Public Account committee whose responsibility is to ensure accountability and transparency, particularly on government funds in a state I’m serving as a legislature, I was moved by that in conjunction with other colleagues who feel the same.

     

    “I feel there is nobody better than me to move the motion intended to clarify if the governor is wrong for telling the reality and position of the state,” he said.

     

    He also said statistics showed that Kaduna debt profile was second next to Lagos out of the 36 states.

     

    He said if a state reached a position where payment of salary became a problem, then such a situation was a serious matter.

     

    He said the committee has a month to submit its report to the House leadership.

     

    The chairman House Committee on Information, Henry Marah Zachariah, while briefing the media shortly after the sitting, said the House was not accusing anybody of wrongdoing, but was only interested in knowing how the loans and grants collected during the last administration were spent.

     

    He also said whoever refused to honour the invitation, the law would be used to summon them before the committee to explain what actually happened.

     

    He said all those invited are expected to bring along their documents to the committee to defend themselves. 

    Source

  • Tinubu to terrorists, kidnappers: You will be defeated

    Tinubu

    President Bola Tinubu on Wednesday reaffirmed his administration’s commitment to the economic security of Nigerians.

    The president spoke when he received members of pan Yoruba socio-cultural organization, Afenifere, at the State House in Abuja.

    Tinubu said the government would address foundational challenges and create a fair and equitable system for the country.

    The president said his administration was re-engineering Nigeria’s finances, boosting the purchasing power of citizens, and spreading prosperity down the line.

    According to him, the government was instituting a credit system where the element of cash would not impede a significantly enhanced standard of living for all citizens.

    He said: “We are committed to the economic survival of our country. To re-engineer the finances of our country, we must start in earnest.

    “So first, retool, revamp the economic opportunities available, and resolve to continue taking the firm and steady baby steps that are necessary.

    ‘’We have seen the problems parents face in training their children in school; it is the reason why we established the National Student Loan Programme, which is taking off well.

    “We are equally examining what to do with the high degree of unemployment. We must help vulnerable people by providing social security. We are looking at how to provide allowances for the unemployed.

    “We are developing ways to boost the purchasing power of citizens with the Consumer Credit Scheme.

    “If we remove the cash upfront element to buy a car or a house, we will reduce the propensity for fraud and corruption across the land.”

    On security, the President declared that those who threaten the sovereignty of Nigeria would pay a heavy price.

    ‘’I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy is reflected greatly here since we assumed office. What we face now is the challenge of terrorism.

    “Security of life and property is very necessary for development. I can tell you we are achieving success. We have degraded terrorism to a level that they cannot threaten the sovereignty of Nigeria any longer.

    ‘’Banditry and kidnapping will be defeated. And there is no payment of ransom whatsoever. We are taking the battle to them. We are getting results more rapidly than before. We are working hard on intelligence gathering.

    “Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. They have a price to pay. And we are not going to relent,’’ Tinubu added.

    Earlier in his remarks, the former Secretary to the Government of the Federation, Olu Falae, commended the president for the rehabilitation of the Third Mainland Bridge in Lagos and other ongoing projects.

    He urged the president to ensure fairness and equity for all Nigerians.

    ‘’Mr. President, you are the leader of Nigeria now and the most important political figure in Africa, we expect you, given your legacy and pedigree, to lead our country with knowledge, courage, and integrity.

    “We do not doubt that your tenure will mark a turning point in the history of our country under your leadership, Nigeria will be repositioned.

    “We will stand by you as you make all efforts to change the Nigerian story for the better.

    “Be assured Afenifere will not abandon you in fair or foul weather as long as you remain faithful to the principles of fairness, integrity, and courage that are expected of you as the leader of Nigeria. We will stand by you,’’ Falae stated.

    Source

  • We Will No Longer Tolerate Obstruction of Our Operations

    We Will No Longer Tolerate Obstruction of Our Operations

    We Will No Longer Tolerate Obstruction of Our Operations

    The Economic and Financial Crimes Commission wishes to warn members of the public that it is a criminal offence to obstruct officers of the Commission from carrying out their lawful duties.

    Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years.

    This warning becomes necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC.

    On several occasions, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order. Regrettably, such disposition is being construed as a sign of weakness.

    The Commission, therefore, warns that it will henceforth not tolerate any attempt by any person or organisation to obstruct its operation as such will be met with appropriate punitive actions.

    Visit www.efcc.gov.ng for more stories

  • We Will Continue El-Rufai’s Probe Despite Threat From Son – Kaduna House Of Assembly Vows

    The Kaduna State House of Assembly has vowed to continue the probe of the immediate past administration of the state headed by Nasir El-Rufai.

    The House had instituted a panel to prove El-Rufai following the Governor, Uba Sani’s revelation that his predecessor left huge debt on the state.

    The governor said the huge debt was affecting service deliveries and had affected prompt payment of salaries and meeting other obligations.

    However, it alleged on Wednesday that the institution of that panel has been met with threats and intimidations from people associated with El-Rufai no less one of his sons, Bello, who’s a member of the 10th House of Representatives.

    A statement signed by Mallam Suraj Bamalli, Chief Press Secretary and Senior Special Assistant on Media and Strategic Communications to the Honourable Speaker of the Kaduna State House of Assembly explained that “shortly after the establishment of a committee to investigate financial dealings, loans, grants, and projects implementation from 2015-2023 in Kaduna State, Hon. Bello Elrufai took to social media with two tweets, now deleted, insinuating a call to ‘fight’ and disrespecting the entire Legislative Arm of Government.”

    The statement further said, Bello also “sent insulting and subtle threat messages to the Rt. Hon Speaker of Kaduna State House of Assembly, Hon Yusuf Liman via WhatsApp.

    “The screenshots of these tweets and messages have been widely circulated, causing concern among the citizens of Kaduna State.”

    It said it is “disheartening that a Federal Lawmaker, entrusted with representing the people, would resort to such behaviour attempting to obstruct the lawful functions of the State Assembly.”

    The statement reassured “the good people of Kaduna State that it remains steadfast in its commitment to serving without fear or favour.

    “The members of the Assembly took an oath to uphold the integrity of their office and ensure due diligence in their duties, regardless of any attempts at intimidation or threats.

    “Threats and intimidation from anyone, including federal lawmakers, will not deter the Kaduna House of Assembly from its pursuit of justice and accountability.

    “The Assembly remains resolute in its mandate to provide checks and balances and uphold the rule of law in Kaduna State.

    “We urge the good people of Kaduna State to remain vigilant and steadfast in their support for transparency, accountability and the rule of law.

    “The Kaduna State House of Assembly will continue to serve the best interests of the state and its citizens,” the statement said.

    Bello could not be reached for comment as of the time of going to press.

    We Will Continue El-Rufai’s Probe Despite Threat From Son – Kaduna House Of Assembly Vows is first published on The Whistler Newspaper

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  • Kaduna assembly calls out Bello El-Rufai for calling for allegedly a fight against them

    Kaduna state assembly which initiated a probe of loans secured by the administration of former Governor of the state, Nasir El-Rufai, has called out the former Governor’s son and current member representing Kaduna North Federal Constituency, Bello El-Rufai, for allegedly calling for a fight against them. 

    Sharing tweets which Bello El-Rufai has now deleted, the state assembly described it as “erratic and unruly.”

    ‘’In light of recent events, the Kaduna State House of Assembly wishes to address the erratic and unruly actions of Hon. Bello Elrufai, the member representing Kaduna North Federal Constituency.

    Shortly after the establishment of a committee to investigate financial dealings, loans, grants, and project implementation from 2015-2023 in Kaduna State, Hon. Bello Elrufai took to social media with two tweets, now deleted, insinuating a call to “fight” and disrespecting the entire Legislative Arm of Government. Additionally, he sent insulting and subtle threat messages to the Rt. Hon Speaker of Kaduna State House of Assembly, Hon Yusuf Liman via WhatsApp.

    The screenshots of these tweets and messages have been widely circulated, causing concern among the citizens of Kaduna State. It is disheartening that a Federal Lawmaker, entrusted with representing the people, would resort to such behaviour, attempting to obstruct the lawful functions of the State Assembly. The Kaduna State House of Assembly wants to reassure the good people of Kaduna State that it remains steadfast in its commitment to serving without fear or favour.

     

    The members of the Assembly took an oath to uphold the integrity of their office and ensure due diligence in their duties, regardless of any attempts at intimidation or threats.

    Threats and intimidation from anyone, including federal lawmakers, will not deter the Kaduna House of Assembly from its pursuit of justice and accountability. The Assembly remains resolute in its mandate to provide checks and balances and uphold the rule of law in Kaduna State.

     

    We urge the good people of Kaduna State to remain vigilant and steadfast in their support for transparency, accountability and the rule of law. The Kaduna State House of Assembly will continue to serve the best interests of the state and its citizens.”

    Source