Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President Dr Ahmad Lawan, and Speaker of House of Representatives Mr Femi Gbajabiamila to “promptly probe and refer to appropriate anti-corruption agencies fresh allegations that N10bn of public money budgeted for the National Assembly is missing, misappropriated or diverted.”
SERAP said: “The grim allegations that N10,051,283,568.82 of public money is missing are documented in the 2019 audited report by the Auditor-General of the Federation.”
In the letter dated 11 December 2021 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “Addressing the allegations would improve public confidence and trust in the ability of the National Assembly to exercise its constitutional and oversight responsibilities, and to adhere to the highest standards of integrity in the management of public funds.”
SERAP said: “Little can be achieved by the National Assembly in the fight against corruption if the leadership and members do not first confront the spectre of alleged corruption and mismanagement within their ranks.”
SERAP is also urging Dr Lawan and Mr Gbajabiamila: to “identify the lawmakers and staff members suspected to be involved, and hand them over to appropriate anti-corruption agencies to face prosecution, if there is sufficient admissible evidence, and to ensure full recovery of any missing public funds.”
The letter, read in part: “As part of its legislative and oversight functions, the National Assembly has a key role to play in the fight against corruption in the country. But the National Assembly can only effectively perform its anti-corruption role if it can demonstrate exemplary leadership to probe the allegations of corruption and mismanagement involving the legislative body.”
“According to the Auditor-General Report for 2019, the House of Representatives paid N2,550,000,000.00 to members as running costs between July and December 2019, but failed to account for the money, contrary to paragraph 1011(i) of the Financial Regulations. There was no evidence to show what the funds were used for, and no documents to back-up the spending.”
“The Auditor-General is concerned that the money may have been ‘diverted.’” He wants the money recovered.”
“The House of Representatives also reportedly paid N258,000,000 as cash advances to 59 officers between February and December 2019 but has failed to account for the money. The officers were paid the money despite the fact that they have not accounted for the previous cash advances.”
“The House of Representatives also reportedly paid N107,912,962.45 as repairs and maintenance allowance for unspecified residential quarters but failed to account for the money. The money spent was also in excess of the cash advances threshold of N200,000.00 as stipulated by the Financial Regulations.”
“These fresh allegations amount to fundamental breaches of the Nigerian Constitution of 1999 [as amended] and the country’s international obligations including under the UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption.”
“SERAP is concerned that allegations of corruption continue to undermine economic development, violate social justice, and destroy trust in economic, social, and political institutions. Nigerians bear the heavy economic and social costs of corruption. The National Assembly therefore has a responsibility to curb it.”
“Ensuring the effective investigation of these fresh allegations, and full recovery of any missing public funds would strengthen the country’s accountability framework, and show that the National Assembly can discharge its constitutional responsibility of amplifying the voices of Nigerians, and act in the best interest of the people.”
“We would be grateful if you would indicate the measures being taken to address the allegations and to implement the proposed recommendations, within 14 days of the receipt and/or publication of this letter.”
“If we have not heard from you by then as to the steps being taken in this direction, SERAP shall take all appropriate legal actions to compel the leadership of the National Assembly to implement these recommendations in the public interest, and to promote transparency and accountability in the National Assembly.”
“The House of Representatives also reportedly collected N1,594,807,097.83 as PAYE, car and housing loans from 17 members between February and December 2019 but failed to show receipt of remittance to relevant revenue authorities. The Auditor-General wants the money recovered.”
“The House of Representatives also reportedly paid N1,010,598,610.97I from salary account but without any document to show for the payment, contrary to paragraph 601 of the Financial Regulations. The Auditor-General wants the money recovered.”
“The Senate reportedly collected N219,645,597.08 as housing loans from 107 senators’ salary arrears between July and December 2019 but failed to remit the money.”
“The Senate also reportedly recovered N123,320,916.72 being car loans to senators between July and December 2019, but there was no evidence that the money was remitted to the treasury. The Auditor-General wants the money recovered and remitted.”
“The Senate reportedly collected N176,267,255.31 as PAYE from staff salaries but there was no evidence that the money was remitted to the relevant tax authorities, contrary to paragraph 235 of the Financial Regulations. The Auditor-General wants the money recovered and remitted.”
“The Senate also reportedly collected N277,411,116.29 as Value Added Tax (VAT), and Withholding Tax (WHT) but failed to remit the money to the relevant tax authorities. The Auditor-General wants the money recovered and remitted.”
“The Senate reportedly paid N1,718,130,630.24 for the supply of vehicle and other office equipment between February and December 2019 but failed to account for the money, contrary to paragraph 110 of the Financial Regulations. The Auditor-General is concerned that the money may have been diverted.”
“The Senate also reportedly paid N657,757,969.05 for supply of motor vehicles, motor cycles and other office equipment between July and December 2019, but failed to show any document for the payment, contrary to paragraph 1705 of the Financial Regulations. The Auditor-General wants the money recovered.”
“The Senate also reportedly paid N423,370,000.00 for the supply of utility vehicles and production of National Assembly Logo between August and November 2019 but without any documents. The Auditor-General wants the money recovered.”
“The National Assembly Service Commission reportedly paid N31,927,760 as cash advances to 59 staff but failed to account for the money. The Auditor-General wants the money recovered.”
“The National Assembly Service Commission also reportedly collected N276,749,014.68 as stamp duty from contractors and service providers but failed to remit the money to appropriate tax authorities.”
“According to the Auditor-General Report for 2018, the Nigerian Institute of Legislative and Democratic Studies deducted N577,634,638,20 as taxes but failed to remit the money to the relevant tax authorities. The Auditor-General wants the money recovered and remitted.”
“The Nigerian Institute of Legislative and Democratic Studies also reportedly spent N47,750,000.00 to buy residential building without due process, and contrary to Section 27 (1) of the Fiscal Responsibility Act and Financial Regulation 301.”
“SERAP notes that the Auditor-General in the 2015, 2017 and 2018 reports documented that over N8bn of public money budgeted for the National Assembly is missing, misappropriated or diverted.”
The letter was copied to Mr Abukabar Malami, SAN, Attorney General of the Federation and Minister of Justice; Professor Bolaji Owasanoye, Chairman Independent Corrupt Practices and Other Related Offences Commission (ICPC); Mr Abdulrasheed Bawa, Chairman, Economic and Financial Crimes Commission (EFCC); and chairmen of the Public Accounts Committees of the National Assembly.
Ogun begins Mass Installation Of Street Lights
The Ogun state government has begun mass installation and activation of street lights in major towns across the state as part of efforts to prevent road crashes and armed robbery operations at night.
Governor Dapo Abiodun made this known at the weekend at a test run of the project on the 42km Sagamu Interchange-Siun-Abeokuta expressway.
Abiodun said his government decided to embark on the ‘Let there be Light’ project to lighten up major cities in the state to discourage robbery incidents, among other crimes.
The governor also discussed the 526 housing units at Kobape. He said the project would create job opportunities for artisans and open up the state’s economy.
He stated that the Kobape Housing Scheme is a deliberate urban renewal strategy aimed at stemming rural-urban migration, stressing that it is one of the many done by his adminstration in areas such as Abeokuta, Sagamu, Ijebu-Ode, Ilaro and Ota.
“We are going round to see our legacy projects that define our administration. This housing project has turned Kobape from a rural area to a township. The housing project is part of our urban renewal strategy to attract people from the cities back to the hinterland.
“This project is one of the many we have done in places such as Idi-Aba in Abeokuta, Sagamu, Ijebu-Ode, Ilaro and Ota. So far we have done about 1,000 housing units for both low and middle income earners. It is a commitment to our vision to cater for all categories of people in our state. This project will be inaugurated along with others like the Epe-Ijebu-Ode, Abeokuta- Sagamu roads,” he added.
Abiodun divulged that the housing project was done through direct labour to ensure that youths in the area were engaged, adding that the project has changed the landscape and the commercial activities of Kobape town.
He also spoke on the renovation of the June 12 Cultural Centre, Kuto, Abeokuta, stressing that he would not allow the building to deteriorate.
“Our administration is particular about promoting our culture and June 12 Cultural Centre is part of it. The state of the Centre left much to be desired and we had to do something urgently about it as it offers us a place for many functions of government. It has a museum, cinema, spacious halls and other facilities. We have renovated it and it is now a place to behold.”
Frank Faults Akande’s Claim That Obasanjo Opposed Buhari’s 2015 Candidacy
A former deputy national publicity secretary of the All Progressives Congress (APC), Timi Frank, has disagreed with a chieftain of the party and former governor of Osun state,, over his claim that former President Olusegun Obasanjo opposed the presidential ambition of Muhammdu Buhari in 2015.
Akande, an interim national chairman of the APC, had in his memoirs, “My Participations”, which was presented in Lagos last Thursday, alleged that Obasanjo worked behind the scene to stop APC from picking Buhari as its presidential candidate.
Frank, in a statement in Abuja on Sunday, described Akande’s claim as contrived lies aimed at gaining political mileage for his preferred presidential aspirant ahead of the 2023 general election.
He recalled that being one of the youngest among prominent leaders that worked for Buhari’s emergence as president, he is aware of the critical roles played by Obasanjo and other prominent leaders to ensure the APC won the presidency in 2015.
Frank, who is the United Liberation Movement for West Papua (ULMWP) Ambassador to East Africa and the Middle East, said: “As a major opposition figure then and chieftain of the APC, we know those who fought to make Buhari president and Obasanjo is definitely among them.
“Obasanjo fought to make Buhari president. I also played a major role. If we want to count those who helped make Buhari president, prominent on the list would be Aliyu Wamakko, Aminu Waziri Tambuwal, Murtala Nyako, Rotimi Amaechi, Abdulfatai Ahmed, Alhaji Atiku Abubakar, Dr. Abubakar Bukola Saraki, Senator Dino Melaye, Musa Kwankwaso, Ahmed Bola Tinubu, Chief Olusegun Obasanjo, Malam Nasir El-Rufai, Chief Olagunsoye Oyinlola, and Alhaji Abubakar Kawu Baraje, among others.
“Obasanjo supported Buhari and worked both nationally and internationally to lobby for him against the then incumbent President, Goodluck Jonathan after he resigned from the Peoples Democratic Party and openly shredded his PDP’s membership card.
“Photos of the many shuttles of the above leaders to Otta to solicit Obasanjo’s support for the Buhari project abound and pictures don’t lie.
“As one of the key actors in the crusade that brought Buhari to power, I am also writing my book and very soon I shall appropriately situate some of the high points of that joint mistake and who did what.
“While Akande’s memoirs titled ‘My Participation’ is commendable, branding Obasanjo as ‘anti-Buhari’ prior to the 2015 general election is at best attention seeking to cajole Buhari into sympathy and support for the rumoured presidential aspiration of a prominent chieftain of the All Progressives Congress from the South-west, ahead of the 2023 general election.”
He urged Akande to seek better ways of canvassing support for his benefactor and choice of presidential candidate for 2023, rather than attempting to malign Obasanjo to sway Buhari.
If you don’t do well, I will shout – Gov Wike tells new PDP chairman
Rivers State Governor Nyesom Wike has told the new National Chairman of the Peoples Democratic Party (PDP), Senator Iyorchia Ayu that if he fails to do well, he will shout.
Governor Wike made this known on Sunday at a special thanksgiving and reception held in honour of the new National Chairman of the PDP in Makurdi, Benue State.
Wike noted if the PDP had not changed its national leadership the party would have collapsed, stressing that the change of leadership would be key to the electoral victory of the party in 2023.
“We believe in you by giving you support to be the Chairman of our party. We do not want to have a situation where we will continue to have the defection of our members in the National Assembly, we do not want further defection of our members from our party.
“We want you to use your experience as people have said to make sure that even those who have left the party return back because they know that in all sincerity there is no opportunity on the other side.
“I supported you, I voted for you, because I have the believe that you can turn this PDP to success in 2023. I thank God, today I am one of the happiest persons because a new leadership has emerged I am very very happy.
“Because I know that if we did not do this, this party would have collapsed. I am very happy and most of you who refused to listen at that time you have now realized that that changing leadership is the key for this party to win in 2023.
“And I thank God that it is on you, and I will continue to make sure that you do the right thing and continue to make sure you are focused in the party, I will continue to make sure nobody distracts you, I will continue to make sure the Governors will give you the necessary support so that you can record achievements and in 2023 you will be happy and attest that God used you to produce a leadership that will make Nigeria better.
“But if you are not doing well, Mr. Chairman I will shout, I will say Mr. Chairman this is not what we expected from you.”
On his part, Senator Ayu promised to provide party members level playing field at every level to enable them actualize their aspiration. He said he would work with members of the party adding “I do not see myself as a messiah but a team player.”
Senator Ayu also, said the party would work vigorously to regain leadership of the National Assembly, enlist more women and youths as well as halt the drift from the PDP to other political parties.
“For the Presidency, we will be fair to all aspirants. There will be no favored aspirant. We will provide a level playing ground for everyone. The next President will be a product of the PDP.
“We urge Nigerians not to lose hope because a small collection of people have come together to divide us. We are a productive people who are respected across the world. Do not allow the current leadership to destroy the tenacity of this nation. PDP will be back with good policy, the economy will come back to life and we will start exporting again. As a party, we have done the needful. We will work hard to rebuild our nation and shame the foreign detractors who say Nigeria will break up.”
Two erstwhile Senate Presidents Senators David Mark and Bukola Saraki extolled the virtues of Senator Ayu describing him as a competent person to lead the party to regain power in 2023 and assured of their support for him to succeed.
The Governors of Enugu and Delta states also promised to work with the leadership of the party to ensure the victory of the party in the forthcoming general elections.
Speaking on behalf of Senators, Chairman of the North Central caucus, Senator Philip Aduda who declared support of members for the Senator Ayu leadership prayed God to grant him wisdom to lead the party to victory in 2023.
On his part, the Minority Leader of the House of Representative, Ndudi Elumelu who listed the failed promises and lies the APC told Nigerians under the change mantra to win the 2015 election said Nigerians were already crying for a return to the PDP era assuring that lawmakers would support the new leadership to succeed.
President Buhari mourns Soun of Ogbomosho land
President Muhammadu Buhari has condoled with the family of the Soun of Ogbomoso land, Oba Oladunni Oyewumi, Ajagungbade III, on the demise of the highly revered traditional ruler earlier on Sunday.
In a condolence message by his Spokesman, Mr Femi Adesina, on Sunday in Abuja, the President commiserated with the government and people of Oyo State as well as the indigenes of Ogbomoso land on the demise of the frontline traditional ruler.
The president noted that Oyewumi’s reign of 48 years reinforced the town as a land of peace, accommodating and a bastion of history and tradition.
President Buhari also joined the Oyo State Council of Obas in mourning the First Class Traditional ruler.
He affirmed that the deceased would forever be remembered for his counsel and commitment to the unity and harmony within the ranks of the traditional rulers.
He urged sons and daughters of Ogbomoso land to be consoled with the fact that Oba Oyewumi accentuated his reign with the development and progress of the community through enduring peace and extension of hands of fellowship to peoples of other lands
Shareholders decry effect of CRR on banks’ revenue, seek reduction
Shareholders under the aegis of Independence shareholders Association of Nigeria (ISAN) have expressed displeasure over the hike in banks’ mandatory Cash Reserve Ratio (CRR).
ISAN’s founder, Mr Sunny Nwosu, said this in a statement made available to our Correspondent on Sunday in Lagos.
The shareholders urged the apex bank to reduce the CRR to 15 per cent from 27.5 per cent or pay interest on the restricted deposits to the banks, noting that the banks had over N12 trillion restricted deposits with the Central Bank of Nigeria (CBN).
Nwosu said the decision by the apex bank to review most bank charges and fees downward, coupled with the hike in the CRR, amid expectations of increasing regulatory headwinds, was currently causing a setback in the sector.
CRR is a monetary policy tool used by the Central Bank of Nigeria (CBN) to control money supply in the economy.
The CRR empowers the central bank to sequester up 27.5 per cent of customer deposits held by commercial banks, effectively restricting the banks from accessing the money.
The apex bank debited a chunk of deposits of banks since 2019 as part of a mutually inclusive CRR and Loan to Deposit Ratio policy that targeted at driving lending more to private sector.
“It is noteworthy that Nigeria has the highest reserve requirement in sub-Saharan Africa. South Africa, Kenya and Ghana all have CRR’s of below 10 per cent.
“We believe the elevated CRR level moderated the industry’s performance and liquidity position during the year under review,” said the statement.
The CBN Governor, Mr Godwin Emefiele, admitted the move was part of efforts to curb excess liquidity on the banking system, already adjudged as a contributor to the resurging inflation trend.
According to Nwosu, the tight monetary policy of the CBN has continued to pummel the banking sector with multiplier effect on the equities market and loss of value addition to shareholder.
He said: “After serious evaluation of the CRR and current AMCON scam, ISAN insist that CBN should pay interest to banks on restricted deposits to enhance banks obligation to the real sector.
“In the alternative the apex bank should reduce the CRR to 15 per cent to enable banks declare meaningful dividends that would encourage domestic investments.
“We urge CBN to have a rethink on CRR and among other things to enhance the performance of the financial sector of the economy.”
He said the challenge of the Nigerian economy made it imperative for CBN to pay interest on restricted deposits.
“Banks restricted deposits with CBN are idle funds. We argue that if these funds are with banks, certainly it will enhance their earnings, loans to real sector and returns for shareholders,” Nwosu said in the statement.
He pointed out that continued debits of CRR by the CBN had put the banking sector under serious threat, noting that the apex bank was denying banks the ability to earn an income in customer deposits.
A breakdown of some banks debited through the mandatory CRR showed that Zenith Bank Plc’s restricted deposit with CBN rose from N680.26 billion in 2019 to N1.33 trillion in 2021, while FBN Holdings Plc’s restricted deposit hit N1.32 trillion in 2020 from N843.44billion in 2019.
FBN Ltd. and FBN Quest Merchant Bank Ltd. had also restricted balances of N1.3 billion and N39.37 billion respectively with CBN as at Dec. 31, 2020.
Access Bank Plc’s CRR deposit with CBN also grew to N1.31 trillion or an increase of 54 per cent from N848.85 billon in 2019, while Guaranty Trust Holdings Plc (GTCO) reported N1.03 trillion mandatory reserve with CBN in 2020 from N443.65 billion reported in 2019.
United Bank for Africa’s mandatory reserves with CBN also increased to N1.10 trillion in 2020 as against N832.11 billion in 2019.
The National Coordinator, ISAN, Mr Anthony Omojola, said banks’ interim reports in 2021 showed poor revenues following higher borrowing costs as CRR hike further complicated banks’ currency flow already hit by fallout from the COVID-19 pandemic and the oil price shocks.
Omojola said the CBN warehousing of about N1.2 trillion from the banking system since it raised the CRR by five per cent to 27.5 per cent coupled with the AMCON sinking funds called for serious concerns by all stakeholders.
“That the cumulative restricted deposits of banks so far as at 2020, if invested in treasury securities at five per cent, would have N482 billion added to the industry’s profit before taxation.
“The industry’s return on average equity (ROE) would have increased by between 11percent and 31.6 percent as at December 2020,” he said.
Minister seeks private sector investment in STI for socio-economic gains
Dr Ogbonnaya Onu, Minister of Science, Technology and Innovation(STI), has called on the business community to invest capital and ideas for the development of STI in for socio-economic benefits.
This is contained in statement issued on Sunday in Abuja by Josephine Ademu of Press and Public Relations of the Federal Ministry of Science, Technology and Innovation.
She stated that the minister made the call during a meeting with Nigerian entrepreneurs in Lagos at the weekend.
According to her, the meeting between the Federal government and entrepreneurs/captains of industries is to create synergy on how private sector investment will be utilised for STI development for Nigeria’s socio-economic benefit.
Onu said that efforts of the Federal government to grow STI in the country weren’t enough, hence the need for venture capitals’ involvement was crucial for the speedy development of the sector.
“Venture capitals in the technologically developed countries play the very important role of transforming ideas into goods, by taking the necessary risks.
“In the absence of venture capitals, we need to involve our top rated entrepreneurs who are major risk takers in the development process.’’
The minister said the federal government was dealing with manufacturers, and there was urgent need to utilise risk bearers who would constitute major off-takers of the products of scientific research and innovation.
He explained that the necessary legal and policy framework was laid out for the entrepreneurs in order create the necessary conducive environment.
The Minister of state for Science, Technology and Innovation, Mohammed Abdullahi, said the ministry was looking forward to leveraging on its wealth of experience in application of scientific research and development outcomes.
Business guru Pascal Dozie (CON), delivered a speech titled “Building Strategic Partnership between Science, Technology and Innovation community and Nigerian Entrepreneurs.
He said the essence of the meeting was to foster effective collaboration among the critical stakeholders within the STI ecosystem that would lead to significant inclusive development and growth of Nigeria.
He expressed optimism that a robust framework for full commercialisation of key innovations could be achieved.
Tension mounts in Imo communities as gunmen Kidnap Traditional Rulers
Barely 3days after the traditional ruler of Atta ancient kingdom in the Njaba LGA, Edwin Azike was kidnapped and killed, another yet to be identified gunmen on Sunday wreaked havoc on communities in Imo State, kidnapping two traditional rulers.
The Sunday attack, according to eyewitnesses affected Acho Ndukwe of Amagu Ihube and Paul Ogbu of Ihitte Ihube, all in the Okigwe Local Government Area of the state.
Our Correspondent gathered that the gunmen burnt the monarchs’ palaces and vehicles while carrying out the operations and also kidnapped the youth leader of Umulolo Okigwe.
It was also gathered that the gunmen invaded the country home of a community leader in Umulolo- Okigwe, Fabian Nwosu and vandalized his house after kidnapping the monarchs and youth leader.
A community source told our Correspondent that the operation happened between 12 midnight and 1am on Sunday.
According to the source ” it was something else in the early hours of Sunday. The gunmen came in Hilux vehicles and kidnapped the two monarchs and burnt their palaces and vehicles. They also kidnapped the youth leader of Umuololo- Okigwe.
“The invaders also went to the house of one Fabian Nwosu, on meeting his presence, they vandalized his house.”
Another source described one of the kidnapped monarchs, Acho Ndukwe as a popular and well-to-do king.
He said Ndukwe is the chairman of the Council of Traditional rulers in Okigwe LGA and also the owner of the popular Genesis hotel, Okigwe. Nobody can understand the rationale behind the attack.
The Police Public Relations Officer, PPRO in the state, Micheal Abattam, said the command had commenced investigation into the incident.
