All Posts in "Day: January 10, 2022"

EFCC Announces  Recovery Of N152Bn, $386m In 2021

The Economic and Financial Crimes Commission, EFCC, says it recovered the aggregate sum of N152, 088,698,751.64, $386,220,202.84 , £1, 182,519.75 ,  €156,246.76, 1,723,310.00 Saudi Riyal, 1,900.00 South African Rand, and 1, 400.00 Canadian Dollar between January and December 2021.
The recovery also included a digital currency component with 5, 36957319 Bitcoin and 0.09012 Ethereum,a statement from the commission’s  head,media and publicity,Wilson Uwujaren,said
The statement also said headquarters operation dominated the recoveries with N67, 249, 744, 994.89, $375,662,223.59 and £1,151,539.75 and was followed by the Lagos Command which led the Naira recoveries with N70, 315,611,260.52, $9,286,497.83 and £21,500.00.
According to the statement,the Kaduna Zonal Command emerged third in terms of Naira recoveries with a total sum of N3, 339,405,723.93 while the Ibadan Zonal Command took the same position in terms of Dollar recoveries to the tune of $387,385.00.
 Executive chairman of the Commission, Abdulrasheed Bawa, explained that the monies included direct and indirect recoveries for the different tiers of government (Federal, State and Local Governments), corporate organizations and individuals (victims of crime) within the year under review.
He lauded the personnel of the Commission for the performance and urged them to redouble their efforts to ensure that perpetrators of economic and financial crimes are denied the benefit of the proceeds of crime.
Online Editor by — January 10, 2022 in News 0
Coup::ECOWAS Directs Member States To Shut Borders Against Mali, Withdraw Ambassadors

ECOWAS Countries To Shut All Borders Against Mali, Recall Ambassadors, Reject Junta's Transition Schedule - Tribune Online
The Economic Community of West African States (ECOWAS),has slammed  sanction on Mali over recent coup d’etat in the country
The sanctions which  are expected to take immediate effect, includes withdrawal of all ECOWAS Ambassadors in Mali; closure of land and air borders between ECOWAS countries and Mali; suspension of all commercial and financial transactions between ECOWAS Member States and Mali, with the exception of the following products: essential consumer goods; pharmaceutical products; medical supplies and equipment, including materials for the control of COVID-19 products, and electricity
Other   measures against the military junta involves freezing of assets of Mali in ECOWAS Central Banks; freeze assets of the Malian State and the state enterprises and parastatals in commercial Banks as well as suspension of Mali from all financial assistance and transactions from financial institutions.
 The actions were taken at the Extraordinary Summit of the ECOWAS Authority of Heads of State and Government which held in Accra, Ghana on Sunday.
Vice President Yemi Osinbajo, who  represented his principal, President Muhammadu Buhari at the meeting,said ECOWAS has resolved never to accept coups de’tats; or unconstitutional take over of government of any member country.
He added:”it’s very evident that there is very strong resolve, which is why we are here today. We expect that the actions that will be taken will point the junta in Mali in the right direction.I think ECOWAS has shown that it has not lost its bite where there are concerns about issues of good governance and democratic enterprises in the sub-region, which is why sanctions against Guinea and Mali were imposed.”
The  summit also rejected the transition schedule proposed by the Malian military junta, insisting that “the proposed chronogram for a transition is totally unacceptable”.
A communique issued at the end of the summit  said ECOWAS Heads of State  instructed all community institutions to take steps to implement these sanctions with immediate effect.
It also noted that the sanctions will only be gradually lifted after an acceptable and agreed transition chronogram is finalised and monitored-satisfactory progress is realised in the implementation of the chronogram for the elections.
On the crisis in Guinea, ECOWAS noted that it remained concerned about the slow progress of the transition process four months after the coup.
The communique  the leaders lamentedabsence of chronogram for the election and the non-setting up of the National Council of Transition (CNT).
It directed that a mission be dispatched to Conakry to discuss the transition.
Declaring the Summit open, Chairman of ECOWAS, President Nana Akufo-Addo of Ghana, lauded commitment of West African leaders to the growth of the sub-region.
 President Akufo-Addo said, “as you did through the entire year of 2021, you continue to demonstrate your commitment to responding to urgent and critical evolving situations in the region.
“This is the 6th Extraordinary Summit since I assumed the chair of the Authority that Your Excellencies have participated in concerning the vexed issues of Mali and Guinea. It is a strong testimony to your leadership and concern to the progress of ECOWAS.”
Online Editor by — January 10, 2022 in News 0
FG’s Excessive Borrowing Counterproductive To Nigeria’s Monetary Policy-CBN

CBN groan under FG huge debts - National Daily Newspaper
The Central Bank of Nigeria (CBN),says excessive borrowing by the Federal Government from the CBN’s Means and Ways Advances window could frustrate CBN’s monetary policy.
The CBN, as the Federal Government of Nigeria’s banker, handles the majority of the government’s banking business both inside and outside Nigeria.
According to the increasing reliance on CBN, overdrafts has come with negative consequences.
 Under the monetary policy category of the CBN’s Frequently Asked Questions page, it was asked, “Can the Federal Government frustrate the Central Bank of Nigeria from pursuing its monetary policy?”
The apex bank responded to the question stating, “Yes when the Federal government exceeds its revenue, the CBN finance government deficit through Ways and Means Advances subject (in some cases) to the limits set in the existing regulations, which are sometimes disregarded by the Federal Government.
It said the direct consequences of the central bank’s financing of deficits are distortions or surges in the monetary base, leading to an adverse effect on domestic prices and exchange rates .
Explaining the monetary goals it seeks to achieve,the apex bank said :”The ultimate goals of monetary policy are basically to control inflation, maintain a healthy balance of payment position in order to safeguard the external value of national currency and promote adequate and sustainable level of economic growth and development. These goals are achieved by controlling money supply in order to enhance price stability (low and stable inflation) and economic growth.“
Online Editor by — January 10, 2022 in Banking&Finance 0
We’ll List NNPC Dangote Refineries Shares Soon-SEC

The Securities and Exchange Commission (SEC ) will carry out  out advocacy efforts to relevant Government Agencies such as the Nigerian National Petroleum Corporation (NNPC) and Federal Ministry of Petroleum Resources on listing of shares of the NNPC.
The agency’s  Director General, Mr. Lamido Yuguda,in his New Year Message, explained that policies would be championed this year to incentivize companies like the new Dangote Refineries to offer its shares to the public and list the shares on any of the SEC-registered platforms.
 The commission will organize a capital market conference “to launch a revised version of the 10-year Capital Market Master plan in 2022 to reflect the dynamism of the market and developments in FinTech among others,he said .
He expressed optimism that the results of the various initiatives implemented will begin to gradually manifest, spurring developments in many aspects of the market.
He said as the restrictions of Covid-19 and its variants are eased up, the market will witness renewed confidence expected to introduce fresh investments from domestic and foreign investors.
He said:“As we expect improvements in both economic and capital market activities, we must remain committed to developing the market in line with the 10-year Master Plan. Some of the key initiatives to be pursued in 2022 are as follows: The repeal of the Investment and Securities Act (ISA) 2007 and passing of the Investment and Securities Bill 2021 to align the enabling law with the realities and trends in capital market regulation and practice in Nigeria;
“In conjunction with the NASD Platform, provide the necessary incentives and support to attract SMEs to get listed. Already, Rules on Crowdfunding to encourage new funding sources for the SMEs have been developed;
 “The SEC will continue the enhancement of the existing regulatory framework guiding the operations of the market by keeping pace with the evolving changes in market practices, especially with the advent of Financial Technology and digital assets.
 According to him, the commission would improve coordination amongst stakeholders, such as the National Assembly, CBN, PENCOM, CAC, NAICOM, DMO and FIRS to create synergies and further improve upon our effectiveness towards ensuring that the objectives of realising the Capital Market Masterplan are met.
 He said, “The SEC will continue with the sensitization programmes and strong capacity building initiatives on Non-Interest Capital Markets products and services in order to attract sub-nationals and corporate issuances to this market segment.
 “We also plan to provide extra support to the registered commodities trading platforms to complement government’s renewed diversification efforts in agriculture and carry out workshops to deepen the Commodities Trading Ecosystem”.
Online Editor by — January 10, 2022 in News 0
Lagos  Launches  Mass Housing Scheme In Ikorodu

Lagos State Government to commission homes, other projects in Ikorodu. – Traffic Radio 96.1FM
The Lagos State Development and Property Corporation says it has unveiled 480 units of one, two and three-bedroom flats in B.O. Benson Estate, Ibeshe, Ikorodu.
The flats go for between N5m and N13.5m,according to a statement
It noted that the project, which was supervised by the state’s Ministry of Housing, began during the administration of former governor Babatunde Raji Fashola, SAN, and was completed and inaugurated by the incumbent, Babajide Sanwo-Olu.
It added that the project was borne out of the need to provide decent accommodation to urban dwellers and subsequently reduce the housing deficit in the state.
The B.O. Benson Estate sits on a land area of 15 hectares opposite Nichemtex factory on Ibeshe Road in the Baiyeku Local Council Development Area of Ikorodu.
The statement noted that the estate was constructed by seasoned professionals in the LSDPC and built by contractors who employed artisans within the local community to provide economic empowerment for the locals.
It said: “The estate is also well equipped with modern facilities to provide homes for the people in a conducive, serene and well planned environment.The structure comprises 40 blocks of 480 units of one, two and three-bedroom flats. Each flat comes with kitchen fittings, store and visitor’s toilet.
“External features of the estate include seven transformers, one injection station, two refuse houses, car park, water treatment plant, ground/overhead water tanks, borehole and two pump houses.
“Other ancillary in the estate include generator house, community halls, roads/drains and central sewage system.  The B.O. Benson Estate joins a long list of housing projects embarked on by the Lagos State Government in its drive to provide affordable homes to all Lagosians”
Online Editor by — January 10, 2022 in Property 0
My  Sermons On Hellfire Fabricated-Mummy G.O

Mummy G.O. Denies Her Sermons On Hellfire, Says Videos Edited – Independent Newspaper Nigeria
The founder of Rapture Proclaimer Evangelical Church of God, Evangelist Funmilayo Adebayo, popularly known as Mummy G.O, says the viral videos of her preaching about hellfire is fabricated and edited.
The cleric denied the videos in an interview with BBC Pidgin, adding  that even if  devil comes down to earth as a pastor, he wouldn’t have said those words.
According to her: “I didn’t say those words, most the videos and memes are edited. Even if Lucifer-Satan comes down to the earth to become a pastor, will he ever say all those things?
“Even Lucifer wouldn’t have said all those things, talk less of person who calls herself a holiness preacher. Most of those things they said, I didn’t say it.”
Several video clips of the preacher had recently  went viral on social media, in which she highlighted several actions that are sinful and can lead to hell.
She stated in the that footballers and comedians are going to hell because the sports is devilish.
She also said that some world known celebrities are agents of the devil, using their songs to lure people to hell.
Online Editor by — January 10, 2022 in News 0
Police Stop Two Buses Conveying 32 Children From Benue To Osun

Operatives of the Benue State Police Command have  stopped  two commercial buses allegedly conveying 32 children from Benue state to Ede in Osun State.
The interception, at the weekend, was carried out by the State Command’s anti-crime squad, codenamed: “Operation Zenda.”
The operatives intercepted the buses at Ameladu in the Gboko Local Government Area of the state.
The conveyor of the children, Linda Akaasema, who claimed to own an orphanage in Osun State, said the children, mostly teenagers made of up 13 boys and 19 girls, were all students.
She said the children were inmates of Akaasema Child Care Foundation, which was registered in Benue State but operational in Osun State.
She said they only came home for the Yuletide,adding that they were from Zaki Biam, Jootar and other towns in Ukum Local Government Area, sharing common boundaries with Taraba State.
Akaasema could not however provide any documentary evidence to back up her claims of owning an orphanage as well as proof that the children were actually in school.
The spokeswoman of the Benue State Police Command, Superintendent of Police Catherine Anene, confirmed the development,adding that  the investigation into the matter was ongoing.
Online Editor by — January 10, 2022 in Crime/Metro 0
2022:NIPCO Promises  Robust Service Delivery 

The Nigerian Independent Petroleum Company (NIPCO) has positioned it’s workforce for improved service delivery  this year.
Managing Director and Cheif Executive Officer of the company, Suresh Kumar, gave the assurance  in his New Year message appreciated the employees resilience over the years.
He  noted  that the New Year offers a lot of opportunities which must be optimised by the company,adding that it  would continue to take its pride of place within the context of the emerging downstream sector under the PIA.
He implored  the employees to brace up for the challenges ahead, stressing  that their dedication and commitment have contributed immensely to the company’s resilience over the years.
He added that: “The entire workforce of the company needs to develop more synergy towards sustaining the company’s milestones and moving it to a higher level of efficiency for her to continue to occupy its pride of place within the context of the emerging downstream sector under the Petroleum Industry Act [PIA]
“Our collective contributions in the outgoing year towards achieving milestones set by the promoters are commendable, nevertheless this is not to suggest that there is no room for improvement.  I want you to note that with the enactment of the PIA, we all should be on our toes in order to improve our bottom line,” he stated.
He  assured of his continued commitment to put in the right welfare for the workforce to enable them put in their best without sacrificing merit in the scheme of things.
He said:”I am honoured to lead a highly resourceful and competent crop of workers of your calibre, even as I urge that we continue to work hard as we usher in a new yearMy charge to you all is that you should be ready for more challenges and responsibilities in the year 2022 as such is the sure pathway to our success in the New Year and even beyond”
Online Editor by — January 10, 2022 in Oil&Gas 0
NDLEA Nabs Fake Security Agent For Importing  Drug Chocolates

The National Drug Law Enforcement Agency NDLEA has arrested a suspected fake security agent, Godwin Ilevbare, a.k.a Edwin Agbon for importing drug chocolates and cookies from Canada into Nigeria to sell.
The  agency has arrested a 76-year-old grandfather, Osagie Robert all in Edo state Southern Nigeria.
The Director media and advocacy NDLEA headquarters Abuja, Mr Femi Babafemi,disclosed   this in a statement.
He said the septuagenarian popularly called old soldier was arrested “on Friday 7th January, 2022 in Egor, Oredo area of Edo state for dealing in Cannabis while Godwin was nabbed during a controlled delivery of a consignment shipped into Nigeria through a courier company. Soon after the suspect signed for the consignment, undercover operatives embedded in the courier firm arrested him at his apartment in Benin city on Tuesday 4th Jan.”
He explained that the consignment, emanated from Canada and  contains Colorado brand of Cannabis concealed inside chocolates and cookies weighing 6.491kilograms, while the drug cookies and chocolates weighed 5.566kg and 0.383kg respectively.
Besides ,a  48-year-old Iloduba Augustine, a passenger of Ethiopian airline that arrived Akanu Ibiam International Airport, Enugu, from Sao Paulo, Brazil via Addis Ababa, Ethiopia was on new year eve arrested and placed on observation during which he confessed to have swallowed 58 pellets of cocaine out of which he excreted 48 pellets which were delivered to a Kenyan while on transit in Addis Ababa for a fee of N1million.
Babafemi quoted Iloduba as saying that  he continued his journey to Nigeria with the remaining 10 pellets in his stomach,  he intended to sell in Lagos.
The wraps of cocaine ,he said ,were later excreted at 10:40am on New Year day, 1st January.”
In Niger state, he said, 23-year-old Simon Richard, a 500 level student of the Dept. of Agric Economics and Extension, Federal University of Technology, Minna was arrested at Gidan Kwano Talba road, Minna with different quantities of Loud and Tramadol on Thursday 6th Jan, while in Benue state, a 21-year-old lady, Shidoo Ben was arrested with 14 pinches of crack cocaine at Jada Hotel, Otukpo on Friday 7th January.
 She traveled from Abuja to sell the drug in Benue. This is even as a raid in Jigbele Lota camp, Owo area of Ondo state led to the recovery of 598kg cannabis and the arrest of Chukwuemeka Azi on Thursday 6th January.
In Ogun state, he said,two suspects: Mrs. Ajoke Samuel, 60, and Ogundairo Taye, 37, were arrested in Itaka and Odo Eran areas of Abeokuta North with different quantities of cannabis sativa, just as Ibrahim Adamu and Yahaya Mohammed were nabbed with 81kg cannabis along Ilorin-Jebba expressway on Tuesday 4th January.”
In Plateau state, three siblings: Emmanuel Ngyang Jajoang; Timothy Ngyang Jajoang and Markus Ngyang Jajoang were arrested on Thursday 6th Jan. at Kwakwi village, Riyom LGA with different quantities of cannabis and a locally made pistol.
Besides,two suspects: Sunny Daniel and Joseph Chukwube were arrested in different parts of Rivers state with quantities of Methamphetamine; Heroin; Cannabis Sativa and Cocaine as well as N364, 500 cash on Thursday 6th January.”
He added that in Delta state, NDLEA operatives supported by soldiers on Wednesday 5th Jan. raided a warehouse in Abbi town, Ndokwa West LGA, where two variants of cannabis; Loud and skunk weighing 56.5kg believed to be imported from a neighbouring country as well as two suspects: Miss Lillian Echicheli and Collins Uzokwe were seized.”
The Chief Executive of NDLEA, Brig. Gen. Mohammed Buba Marwa (Retd) commended the officers and men of the affected Commands as well as those of the Directorate of Operation and General Investigations, DOGI, for starting the new year with a strong message to drug cartels that the Agency will not relent in its determination and efforts against drug abuse and illicit drug trafficking in Nigeria.
Online Editor by — January 10, 2022 in News 0
Black Soot: Wike Begins Manhunt  For 19 Illegal Refinery Operators,Queries Ministry’s Director

Gov Wike declares 19 illegal oil refinery owners wanted (Full List) - Rifnote
Rivers State governor, Nyesom  Wike, is on manhunt  for   nineteen  persons  for operating illegal crude oil refining sites responsible for the black soot pandemic in the State.
He also directed the Rivers State Head of Service to query one Mr. Temple Amakiri, a Director in the Ministry of Energy, for abetting bunkering activities and hand him over to the police for investigation and  prosecution.
 In a broadcast on Sunday,Wike said  government is resolved to pragmatically tackle the soot pandemic by destroying and closing down all identified illegal crude oil refining sites and activities in the State.
He  said state  taskforce on illegal street trading raided some illegal crude oil refining sites in Port Harcourt and arrested a number of recalcitrant persons sequel to his 2022 New Year Message outlining measures to tackle the black soot menace
He added:”Furthermore, the following persons who have been identified as kingpins of bunkering and illegal crude oil refining activities in their communities have been declared wanted and directed to report themselves to the State Police Command, to whom we have already passed their details to:
“Mr. Azubike Amadi, OSPAC Commander, Ogbogoro community and Chairman of Akpor Central OSPAC; Mr. India, of Rumuolumeni community and Chairman of Oil bunkering Association in Akpor kingdom; Mr. Okey who is in charge of Oil bunkering in Rumupareli;  Mr. Anderson, who is in charge of oil bunkering activities in Ogbogoro community; Amadi Gift of Ogbogoro community; Azeruowa of Ogbogoro community; and Kingsley Egbula, also of Ogbogoro community.
“Also declared wanted are the following persons who are alleged to be in charge of oil bunkering activities in Isiokpo community: Mr. Kemkom Azubike, Mr. Mezu Wabali, Mr. Chigozi Amadi, Mr. Opurum Owhondah, Mr. Bakasi Obodo ,Mr. Opus, Mr. Galaxi Mas, Mr. Chioma, Mr. Ogondah, Mr. Soldier, Mr. Chefo, and       Nkasi.
“We have also identified those behind illegal bunkering activities in Okrika communities, Port Harcourt Township, Rivers South-East and Rivers South-West Senatorial Districts and their names would be soon published and declared wanted, if they fail to voluntarily report to the police.”
He urged residents of the state  to report those involved in illegal crude oil refineries and other damnable activities to the Task Forces already set up at the state and local government levels for immediate action.
Online Editor by — January 10, 2022 in News 0