Bolaji Owasanoye
House summon AGF over ‘blockage’ of $60 billion repatriation
The House of Representatives has again summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) for allegedly halting the repatriation of $60 billion loot from Texas, United States of America. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots – Movable and Immovable Assets from 2002 to 2020 by Agencies of the federal government for Effective Efficient Management and Utilisation, Rep. Adejoro Adeogun, summoned Malami on Wednesday in Abuja when a former Special Prosecutor to the Special Presidential Investigation Panel (SPIP), Mr Tosin Ojaomo, appeared before it. He also revealed that before the panel which was headed by Okoi Obono-Obla was disbanded, it investigated the Auditor General of the Federation for the withdra...
Crypto ban: We acted in Nigerians’ best interest – CBN
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the Bank’s decision to prohibit deposit money banks, non-banking institutions, and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr Emefiele made the declaration on Tuesday, February 23, 2021, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, on its directive to institutions under its regulation. Describing the operations of cryptocurrencies as dangerous and opaque, the CBN Governor said the use of cryptocurrency contravened an existing law. He said given the fact that cryptocurrencies were issued by unregulated and...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
ICPC uncovers N5.17 billion fraud in education, agric ministries
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has uncovered diversion of part of the N2.67 billion payments made to some Federal Colleges for school feeding during lockdown. The Chairman of ICPC, Prof. Bolaji Owasanoye, who stated this at the 2nd National Summit on Diminishing Corruption with the theme: “Together Against Corruption and Launch of the National Ethics and Integrity Policy”, said preliminary investigation had indicated that part of the N2.67billion was diverted to private accounts. The event, presided over President Muhammadu Buhari, was held at the Council Chambers of the Presidential Villa, Abuja, on Monday. The ICPC boss said: “We observed that transfer to sub-Treasury Single Account was to prevent disbursement from being monitored. ...
Official: ICPC investigating cases of coronavirus fraud
File Photo The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it is investigating alleged cases of corruption in the management of COVID-19 funds and palliatives. The commission’s Director of Operations, Mr Akeem Lawal, disclosed this during a virtual meeting of stakeholders on the topic, “COVID-19 Funds Management and Monitoring”, on Thursday. In a presentation titled, “ICPC Monitoring Obligation and Strategy Re: COVID-19 Emergency”, Lawal said the cases include alleged fraud by some participating public institution in the release and distribution of grains from strategic food reserve. Others, according to him, include alleged infractions in the procurement of COVID-19 palliatives and logistics and community enlightenment activities. The ICPC official, who...
