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Yobe State Microfinance Bank raises alarm over diversion of N4.3bn new Naira notes meant for residents

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The Yobe State Microfinance Bank Managing Director, Sheriff Almuhajir, has raised the alarm alleging that the sum of N4.3 billion approved by the Central Bank of Nigeria (CBN) for banks in the state has been diverted somewhere else.

Speaking mostly in Hausa Language mixed with English Language, Almuhajir, who made the allegation in a video he posted on his Facebook page on Tuesday, claimed that out of the N4.3 billion allocated to the state by the CBN, Damaturu branch, more than N700 million was meant for Point Of Sale (POS) agents in the state.

Almuhajir, who insisted that his claim can be verified anywhere said, “My people of Yobe State and Damaturu in particular, I want to tell you that I got reliable information that the Central Bank of Nigeria, Damaturu Branch, has brought N1000 denominations of 4.3 billion naira to Yobe State.

“More than N700 million of the amount was meant for POS agents. But the question I want to ask then is where are these monies?

“I can authoritatively tell you that N4.3 billion was not shared in Yobe state.

“I can also tell you that we don’t have N1 billion of the new currency in circulation in this state. What is the population of the Yobe State?

“How many commercial banks do we have in this state. How many ATM machines do we have?”

The microfinance bank CEO argued that even if the ATM machines would be dispensing cash every minute, the amount could not be withdrawn in a week.

“Even if the ATM machines have been dispensing cash every minute between last week and today, I can assure that we have not withdrawn N1 billion in this state.

“We saw how people sleep at ATM machines. There has never been a time when you don’t see people in long queues at ATM points.

“It’s pathetic that we have got to a stage where children can’t go to school, small business owners have closed shops all because there is no cash at hand to run the business. The poor man’s life has been made difficult.

“I insist that these monies are not in Yobe State; if you’re in doubt, prove me wrong. Show me where they are kept. Or in whose possession they are, the people that got the money.”

“I am very optimistic that these monies were diverted out of the state and we won’t accept that.

“Even though I am aware that investigation is ongoing, we want stakeholders to come together and find out where the monies were taken to. Because the monies were never dispensed to our people.

“How can a very few people hold us to ransom? We can’t even pay for little things.

“We don’t even have up to 50 ATMs in the state, so how can people withdraw N4.3 billion in a short period of time?”

 

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Demolition of buildings for Lagos-Calabar coastal road begins Saturday

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The Federal Government has announced that the demolition of buildings situated within the right of way of the Lagos-Calabar Coastal Road will commence this coming Saturday.

According to Channels Television’ on Thursday, the Federal Controller of Works in Lagos State, Korede Keisha, disclosed this during a press briefing held in Lagos on Thursday.

Keisha urged all residents whose houses have been earmarked for demolition to visit the ministry’s secretariat in Lagos to address any necessary procedures required by the ministry.

She stated that the demolition team would commence the removal of the marked properties on Saturday.

Keisha said, “So this press briefing is just to create awareness for all those that may be involved or have one or two things to do along that project corridor.

“We’ve sent out demolition notices to as many as are within the right of way and we are using this medium now to say that everyone that has any concern within that corridor and have been served, the secretariat is opened to them from today, 3pm.

“We are welcoming them from today till tomorrow. Whatever you have to do along that axis, and then we’ve come to you and marked you down for demolition, we are asking that you see us at the secretariat from today till tomorrow evening.

“Thereafter, demolition squad will move to action by Saturday morning for the first three kilometres.”

The minister added, “For the first three kilometres, anything within the right of way of the Lagos-Calabar Coastal Highway will be dropped down from Saturday morning.

“So, I want to use this medium to reach out to as many as we cannot put calls across to, that this will go a long way to let them know that their issues will be sorted out between today and tomorrow.

“Especially if you are within zero to three kilometres of the projects and you have been marked. You have been identified as standing in the right of way of the project corridors.”

Recently, Minister of Works Dave Umahi disclosed that the construction of the Lagos-Calabar coastal road is expected to span eight years and cost N4 billion per kilometre

The 700 km Lagos-Calabar coastal road will be constructed for N15 trillion, and a kilometre of the road will cost N4 billion.

It is designed to connect Lagos to Cross River, passing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states before culminating in Cross River.

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How ex-HoS, Oyo-Ita, others diverted public funds – Witness

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Hamma Bello, the eighth posecution witness in the trial of a former Head of Service of the Federation, Winifred Oyo-Ita, narrated before Justice James Omotosho of the Federal High Court, Maitama, Abuja, on Thursday, how the defendant and her subordinates diverted public funds into their private companies.

Oyo-Ita, the first defendant, is facing criminal prosecution by the Economic and Financial Crimes Commission alongside her special assistants, Ugbong Effiok (seventh defendant),  and Garba Umar (fourth defendant).

Others are six companies: Frontline Ace Global Services Limited, Asanaya Projects Limited, Slopes International Limited, U and U Global Services Ltd, Prince Mega Logistics Ltd, and Good Deal Investments, on 18 counts bordering on misappropriation, official corruption, money laundering, and criminal diversion of funds to the tune of over N3bn.

The witness, while being led in evidence by prosecution counsel, Faruk Abdullahi, and H.M. Mohammed, told the court that Oyo-Ita used Slopes International Limited and Good Deal Investments Limited – fifth and sixth defendants respectively,  to fraudulently award government contracts to herself through the fourth defendant, Umar.

The first entry transaction of Good Deal Investment Limited in February 2019 showed that N42,748, 201.47 was paid into its Zenith Bank account.

The witness said, “We called for the account statements of these two companies, upon analysing them, we realised he (Umar) was paid several sums of money from the Ministry of Power, Works and Housing where he is an employee.

“And upon interviewing the fourth defendant, he admitted that he was also a contractor. He also admitted to have paid the first defendant on several occasions from the proceeds of the transaction.”

On April 27, 2019, the witness disclosed that a transfer of N20, 2027, 142 was made in the name of  Ibrahim Madu to the Zenith Bank account of Asanaya Projects Limited.

The mandate card of the account bears the signature and photo of the seventh defendant, Effiok.

Investigation, according to the witness, also revealed that the seventh defendant incorporated Asanaya Projects Limited in his name with the knowledge of the first defendant and that approvals were granted and payments made to the seventh defendant either through his personal account or to the account of the company.

The witness said, “The seventh defendant, upon interview, confirmed he had never travelled for most of the funds he received and that the first defendant was aware of and benefitted on several occasions from the funds. The account of U and U Global Services Limited was also opened by the seventh defendant.

“In summary, from 2015 to 2018, U and U Global Limited received several payments in the form of Duty Tour Allowances and estacodes. Sometimes, payments from the Federal Government were made directly to the account, for instance, on March 24, 2016, he received N40, 313, 453. 58. This particular payment was from the Federal Government.”

Further in his testimony, the witness stated, “Exhibit O is the Fidelity Bank account of Prince Mega Logistics Ltd. On March 27, 2018, and April 6, 2018, there were four entries, N4, 950, 000; N3,946,000, N4,676,000 and N1,478,000, from Thomson Titus Okure, who used to be a colleague of the seventh defendant in the Account Department.

“There were also outward payments to Ignom, Minaro Blessing, Winifred Oyo-Ita, Olarenwaju Godman Olushola and the seventh defendant is the sole signatory of this account.”

peaking further, he said, “I also want to add that we invited the first, second and seventh defendant at different times to our office and interviewed them. In the case of the first defendant, we printed chats from her phone and saw conversations she had with contractors, subordinates, and permanent secretaries. She also voluntarily made a statement to the  EFCC.”

The matter was adjourned till April 30, 2024.

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New minimum wage announcement on May Day not feasible – TUC president

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The Trade Union Congress of Nigeria (TUC) President, Mr Festus Osifo, has said that the much-awaited new minimum wage may not be announced on May 1.

Osifo  said this while speaking with newsmen on Friday in Abuja.

”The negociation by the Tripartite Committee is still on going. If you remember, the TUC earlier submitted N447, 000 as the new minimum wage but we have harmonised our figure with the Nigeria Labour Congress (NLC) .

“It is now N615,000. Regarding the when for the new minimum wage, the committee is still working.

“So, certainly, May 1, will not work for the pronouncement of the new minimum wage. Except if the Federal Government wants  to pay the minimum wage of N500, 000 to workers,”he said.

He  however  said that the N615,000 demanded by the organised labour is not sacrosanct.

”The government also has its markup and so conversations and negotiations will start and end somewhere, ‘he said.

He also noted that before organised labour arrived at that amount, a proper study was conducted.

”If you look at the N615. 000, you will think that the amount is right but at about the time we did that computation, a  dollar was about N1, 700.

”I am hopeful that the committee will meet after May 1,” he said.

NAN reports that the 37-member tripartite committee on minimum wage set up by the Federal Government  to continue further negotiations and consultations on the new minimum wage.

The National Minimum Wage Committee is chaired by former Head of the Civil Service of the Federation, Bukar Aji, with other members drawn from the Federal Government and State Governments, the Private Sector as well as the Organised Labour.

Vice President Kashim Shettima said the setting up of the minimum wage review committee is a reaffirmation of President Bola Tinubu’s desire to motivate the nation’s workforce which he describes as the cornerstone of the administration

Shettima notes that though decisions made to salvage the economy remain inevitable, the Federal government is not oblivious of the short-term implications, assuring Nigerians of better days ahead

He urged the committee to be diligent and consult widely in arriving at a fair and decent wage that can alleviate the sufferings of the people.

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