Economic
Haiti police say they have president’s suspected killers, still hunting masterminds
Haiti’s police has killed or apprehended the suspected killers of President Jovenel Moise, officials said on Thursday, and are hunting for the masterminds behind the assassination that stunned the impoverished Caribbean nation. Moise, 53, was shot dead early on Wednesday at his home by what officials said was a commando of apparently foreign, trained killers, pitching the poorest country in the Americas deeper into turmoil amidst political divisions, hunger, and widespread gang violence. Police Chief Leon Charles said in a televised briefing on Thursday that authorities had tracked down the suspected assassins to a house near the scene of the crime in Petionville, a northern suburb of the capital Port-au-Prince. A fierce firefight lasted late into the night and six suspects were taken in c...
PSC: Why Ibrahim Magu’s name was dropped promotion list
The Police Service Commission (PSC) on Thursday said it dropped the name of former Chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, from promotion list because it is still awaiting clearance from the Office of Attorney General. The PSC had promoted 24 CPs, 35 DCPs, 52 ACPs, 50 CSPs and dropped Magu from promotion. A statement issued by Ikechukwu Ani, Head, Press and Public Relations of PSC said the decisions were the high-points of the Commission’s 12th Plenary Meeting held on Tuesday and Wednesday, which was presided over by the Commission’s Chairman, Musiliu Smith, a retired Inspector General of Police. “The Commission declined the promotion of CP Magu pending clearance from the office of the Attorney General of the Federation and Minister of Justice and the Offic...
Senate summons ex-NSITF bosses over ‘N84 billion embezzlement’
The Senate has summoned former managing directors of the Nigeria Social Insurance Trust Fund over alleged missing financial documents in the agency. The former NSITF bosses are expected to appear before the Senate Public Accounts Committee on Tuesday. The Chairman of SPAC, Senator Matthew Urhoghide, at the last meeting of his panel on Thursday, said 50 queries were issued against the NSITF officials by the office of the Auditor General for the Federation. Urhoghide said the ex-NSITF bosses were being invited following the failure of the officials of the agency to respond to the queries of the AuGF regarding some alleged financial infractions. He said, “Twelve out of the 50 queries of the Auditor General of the Federation so far reviewed by the committee revealed that N84bn had allegedly be...
Appeal court affirms sentence of Gombe ex-commissioner
The Court of Appeal, Gombe Division, has affirmed the conviction of a former Commissioner for Culture and Tourism and Chairman of Shangon Local Government Area, Samuel Bulus Adamu. The ex-commissioner had on July 23,2020 been convicted and sentenced to 32 years imprisonment over a case of fraud, cheating and money laundering brought against him by Gombe Zonal Office of the Economic and Financial Crimes Commission, EFCC. The lower court had ruled that the EFCC proved its case beyond reasonable doubt and consequently convicted and sentenced Adamu to a cumulative 31 years imprisonment on the seven count charge preferred against him. Adamu, was convicted for awarding N97.64 million contract to a non-existing company, inflation of contract and payment of contractor above his threshold. But diss...
Petrol smuggling: Nigerian government using device to track trucks, smugglers
The Federal Government says it has facilitated the use of a tracking device to track every truck loading petroleum product from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits. Minister of State for Petroleum Resources, Chief Timipre Sylva, said this at a forum organised by the News Agency of Nigeria (NAN) to gauge the achievements recorded in the oil and gas sector in the last two years. Sylva noted that a lot had been achieved in the industry but that the activities of smugglers had continued to overshadow the successes especially as it concerned fuel subsidy and the quantity of petroleum products consumed in the country. “This is one big question that we try to answer ourselves because when we look at the number of load-outs from our depots every day...
EFCC has recovered over $100 million for NPA – chairman
The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, says the agency has recovered over $100 million for the Nigerian Ports Authority Bawa said the recovery was part of the outstanding remittances owed to the country through the Nigerian Ports Authority. In 2017, the federal government had terminated the boat pilotage agreement it signed with Intels, after Abubakar Malami, attorney-general of the federation (AGF), said it violated the constitution. The company was also accused of not paying taxes in 2017 — the same year NPA accused it of failing to remit an outstanding debt. Speaking at the weekly ministerial briefing organised by the presidential media team at the presidential villa, Abuja, on Thursday, Bawa said EFCC had made recoveries directly for the...
Nigerian government seeks to harness $6 billion global coconut market
The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, has said the federal government is committed to supporting current efforts aimed at harnessing the immense potentials of the coconut commodity whose global market worth is estimated at over $6 billion. She said the commodity has lot of economic, medicinal and nutritional value and enjoys huge market in the country. The minister, at the inauguration of the 2021 coconut planting season in Abuja, however, expressed concern that despite its economic benefits, the current local supply could only meet about 20 per cent of demand. She said there was the need to urgently address the supply side constraints to boost the economy. She further explained that it was in a bid to reposition the coconut segment and address the ...
House backs bill to prohibit bank employees from operating foreign accounts
A bill seeking to prohibit bank employees from operating foreign accounts has passed second reading at the house of representatives. The bank employees’ declaration of assets act amendment bill also seeks to mandate the bankers to declare assets of their spouses and children less than 18 years old. The Economic and Financial Crimes Commission (EFCC) had in March ordered those in the banking sector to declare their assets in accordance with the act, raising questions as to the legality of such directive. Newsmen reported that the bank employees’ declaration of assets act requires bank board members, managing director, general managers, clerks, cashiers, messengers, cleaners, drivers, and any other category of workers — whether part‐time, casual or temporary — to declare their assets. Leadin...
EFCC: Top government officials involved in illicit financial flows
The Economic and Financial Crimes Commission (EFCC), has accused Nigerian leaders and top government officials of aiding the Illicit Financial Flows (IFF) activities in the country. The EFCC also revealed that corrupt government officials and their private sector collaborators used fronts and ownership structures that do not provide sufficient information about the true identities of the natural persons behind the title to hide illicit money and transferred same to safe havens abroad. The Executive Chairman of the EFCC, Mr. Abduralsheed Bawa, disclosed this during a one-day conference that was organised by the Civil Society Legislative Advocacy Centre (CSLAC) on IFF on Corruption in Arbitration in Abuja Bawa, who was represented by the Head of Research Unit, Department of Policy Research a...
EFCC unveils Abdulrasheed Bawa’s authentic Facebook account
The Economic and Financial Crimes Commission (EFCC) on Sunday finally revealed the Facebook account of its chairman, Abdulrasheed Bawa. EFCC’s spokesperson, Wilson Uwujaren, disclosed Mr Bawa’s only Facebook account as, @AbdulRasheedBawa. The commission had since Mr Bawa’s appointment late February pointed out fake accounts being operated on Facebook and Twitter in his name, and warned members of the public against having any dealing with them. On different occasions, the commission vowed to unearth those behind the fake accounts and make them to face the wrath of the law for their act of “identity theft.” Sunday’s announcement of Mr Bawa’s authentic Facebook account by the EFCC appeared to have stemmed from the commission’s frustrations in stopping the proliferation of more fake social me...
House displeased with EFCC over delay in disposal of recovered N46 billion from ex-oil minister
The House of Representatives has expressed displeasure with the Economic and Financial Crimes Commission (EFCC) over the delay in disposing of the N46 billion assets seized from the former Petroleum Minister, Mrs Diezani Alison-Madueke. 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 of Nigeria for Effective Efficient Management and Utilisation, Hon. Adejoro Adeogun, expressed his displeasure on Friday when the Chairman of the EFCC, Mr. Abdulrasheed Bawa, appeared before the committee. The chairman of the committee opined that it was not ideal to continue keeping such recoveries as they were losing value over time. He said: “Given the financial situation of Nigeria, sho...
VP Osinbajo to represent Nigeria at Ugandan presidential inauguration
Vice President Yemi Osinbajo will represent Nigeria at the sixth inauguration of President Yoweri Museveni of Uganda. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, disclosed this in a statement on Tuesday in Abuja. Osinbajo will be joining several other heads of state and government at the swearing-in ceremony scheduled for May 12, at Kololo Independence Grounds in Kampala, Uganda. Nigeria and Uganda share historical antecedents and enjoy good diplomatic relationships, including working together as member-states of the Commonwealth, the African Union, and the United Nations among others. Both countries have signed Bilateral Agreements on Technical Aid Corps, Trade, and on Economic, Scientific and Technical Cooperation. The vic...
