Members of the House of Representatives ad hoc committee one day investigative hearing on the reason for the failure of Ajaokuta Steel Company in Kogi State were surprised to hear that the Nigerian federal government has been losing about $4.5 billion which should have come into the Federation Account.
Former Director General of Nigcomsat, Ahmed Rafai, who made this known at the public hearing of the ad hoc committee, headed by House Leader, Femi Gbajabiamila, emphasized that Nigeria should be earning $4.5 billion annually as foreign exchange if the Ajaokuta steel Company were to be in full production.
Ahmed Rufai said that of the 1.7 billion tons of steel produced worldwide, Nigeria could produce an initial output of 1.5 percent of world output and increase it to 5.2 percent at full capacity eventually.
Lawmakers and other stakeholders called on President Muhammadu Buhari and Economic and Financial Crimes Commission (EFCC) to revisit the probe of asset stripping at the Ajaokuta Steel Company Limited (ASCL).
According to them, the President should visit Ajaokuta with the view to take informed decisions.
A legal practitioner Natacha Akpoti, spoke of the need to prosecute promoters of the shell companies bidding for the company for economic sabotage, saying that the son of a late former Head of State and a serving Governor were responsible for the lingering crisis in the steel complex.
She also said there is the need to investigate Nigerian saboteurs making Ajaokuta unrealistic.
”Shockingly, it must be noted that Ex AGF Adoke memo mentioned in item 6. (a) that: ‘In light of the fact that a presidential committee had estimated damages payable to Global in the region of $525m, the agreement of Global to wave its right to damages is a substantial achievement.”
In his presentation, Bawa Bwari, Minister of State for Mines and Steel confirmed that the N2 billion was included in the 2017 budget for audit was part of the concessionning process, adding that between $500 million and $1 billion is expected to complete the project.
Samaila Akaaba, ASCL Sole administrator, in an earlier presentation said about $635 million required to complete the two percent left undone based on the internal audit conducted by the ASCL management in synergy with two Ukrainian firms and Nigerian Society of Engineers (NSE)
According to him, based on the audit conducted in 2010, about $800 million is required to complete the internal and external infrastructure of Ajaokuta Steel company.
Gbajabiamila in his opening remarks spoke of the resolve of the House towards the industrialisation of Nigeria through a steel based socio-economic and infrastructure development.
“We all known that any country that has not migrated to the level of steel production development has not started as a true independent nation and that such national interest us the only religion that is pursued.”
“Hence, a nation without a steel development production capability will only be playing at the periphery of world industrialized countries.”
The Minister of Budget and National Planning, Udo Udoma has said that President Muhammadu Buhari is not in a hurry to sign the 2018 budget as he is studying the contents critically.
The minister, who spoke to news men at the Presidential Villa, Abuja, today said: “the President is currently reviewing the budget. As you know, we have a minimum window of 30 days.”
Udoma said that as soon as the President completes reviewing the budget and is satisfied with the contents, he would assent to it.
“The President is currently reviewing it and as soon as he is through, he will sign it. That is what l can tell you for now.”
The two chambers of the National Assembly had recently passed the budget and transmitted it to President Buhari for his assent. [myad]
The Lagos State Government has announced that it has achieved an average monthly Internally Generated Revenue (IGR) of N34billion in 2018 compared to monthly averages of the last three years.
Commissioner for Finance, Akinyemi Ashade who disclosed this at the ongoing annual Ministerial Press Briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration held at Bagauda Kaltho Press Centre in Alausa, attributed the gradual improvement to the impact of the ongoing reforms and growth in the State’s economy.
“Notably, we are recording gradual improvement in our average monthly IGR in 2018 compared to the levels achieved in previous years due to the impact of ongoing reforms and growth in the State’s economy. Based on our first quarter results, Lagos State has so far achieved an average monthly IGR of N34billion in 2018 compared to monthly averages of N22bn, N24bn and N30bn in 2015, 2016 and 2017 respectively.”
The Commissioner expressed optimism that the IGR would continue to rise even further as the State continues to implement the various reforms, driven by wider technology adoption and innovation, adding that the target to grow the State’s IGR to N50bn by next year was well on course.
“The target we set for ourselves is N50billion but we all know the kind of push backs we have experienced including people going to court and all that. Our commitment is not for now, its for the future of Lagos. We know it’s a marathon, we would win some and we would lose some, but we are very committed towards ensuring that we meet the target, but if we don’t meet it this year, definitely there would be another year, but we believe we would succeed in that target we set for ourselves,” Ashade said.
On Federal Transfers, he said since Lagos joined the league of oil producing State, the Government had received a total of N327million revenue, comprising N197million and N130million received in 2017 and first quarter of 2018 respectively.
“Furthermore, we are in ongoing discussions with the Federal Government towards obtaining a refund for expenditure totalling N51billion that was incurred by the State Government on behalf of the Federal Government for infrastructure projects developments in the State. We are optimistic of successful discussions that will result in the approval and payment of the amount owed to the State Government by the Federal Government,” he said.
Giving an update on the State’s Debt Profile, Ashade said the Government’s debt stock, comprising 48 per cent local debt and 52 per cent foreign debt currently stood at N874.38billion at the end of 2017 while the debt service charge to total revenue ratio which stood at 17.61 per cent was still within the World Bank threshold of 30 per cent.
The Commissioner said the State Government has continued to maintain a positive credit rating, however, adding that a downgrade of Nigeria’s sovereign rating would lead to a corresponding action on Lagos’ international drawing rights.
“As Nigeria continues to improve on its credit rating, we would be able to achieve better rating as we currently have because no amount of revenue generation, no amount of employment growth of Lagos State can make us surpass to surpass the sovereign rating,” he said.
He, however, said that the State Government has taken some strategic steps to help Nigeria improve on its ratings including adhering to fiscal discipline, improved revenue generation, reforms in infrastructure development, transport and embedded power.
Giving an update on the revised Land Use Charge (LUC), Ashade said the State Government has continued to engage critical stakeholders in line with its tradition of inclusive governance, adding that a wide range of response have been received.
He said the extensive discussions led to several concessions on Land Use charge for property owners across board, adding that a revised bill to further amend the LUC Law to incorporate the additional concessions was presently before the House of Assembly and would be passed soon.
Besides, the Commissioner said the Government through the LUC Assessment Appeal Tribunal, received a total of 1,503 complaints, out of which 1,113 were successfully resolved administratively and through mediation, adding that an additional 263 property owners/agents had their grievances resolved in the last two weeks and more still ongoing.
Ashade also urged residents to continue to support the government by fulfilling their civic duty of paying their taxes and remitting all taxes collected on behalf of the Government as and when due, assuring that the present administration was committed to maintaining financial accountability and transparency for the overall development and prosperity of the State.
Operators of Bureau De Change (BDC) in the country are now free to buy the United States dollar from the Central Bank of Nigeria (CBN) at the rate of N357 to a Dollar and sell at N360. This will leave them with a positive margin of N3.00 per dollar sold.
The Acting Director in the Corporate Communications Department of the apex bank, Isaac Okorafor who confirmed the development today, Monday, said that the decision was aimed at giving BDCs a level playing field to enable them compete favourably with other authorized foreign exchange dealers.
Okorafor advised BDC operators to abide by the new guidelines and not seek to exploit eager customers by selling above the N360 band, just as he warned that erring BDCs will be sanctioned in any case of infraction established against them.
It will be recalled that the CBN, in March 2017, had released a Forex policy, under which it directed licensed BDCs in the country to purchase forex from it at the rate ofN360 to a dollar, while selling same to customers at no more than N362/$1.
At the time of the directive in 2017, the aim of the Bank was to achieve convergence between the rates in the inter-bank window and that of the BDCs. With the rates in both windows now virtually converged, the objective of the Bank is to ensure a level playing field and sustain the level of liquidity in the forex market.
Meanwhile, the CBN in its first sale of the month today, Monday, offered the sum of $100 million to dealers in the wholesale segment of the market to meet the requests of customers. Similarly, the Bank sold the sum of $55 million each to customers in the Small and Medium Enterprises (SMEs) window as well as those in the invisibles segment.
Governor Ayodelel Fayose has warned against people coming to oppress Ekiti people with federal might.
Commenting on the shooting at the rally of the All Progressives Congress (APC) in which former governorship aspirant, Michael Opeyemi Bamidele and others were hit by bullets fired by a policeman, the governor remarked: “we must all shun violence and stop this mindset of coming to oppress the people of Ekiti with federal might. Those planning violence must be mindful of the fact that one can only know the beginning of violence, not the end.”
Fayose, who asked that the perpetrators of the shootings must be brought to book, said: “the matter must not be swept under the carpet just because those involved are APC chieftains.”
He called for three days of fasting and prayer for the victims of the shooting, especially, Opeyemi Bamidele even as he directed the suspension of all open campaign activities of the Peoples Democratic Party (PDP) in the State for three days.
Governor Fayose said even though he was glad that Opeyemi Bamidele was responding to treatment, it was necessary that Ekiti people should support him and others with prayers.
“Our doctors can only try; it is only God that heals. Therefore, it is important at this point for all of us in Ekiti to go to God in prayers so that He can heal our brother and friend, Opeyemi Bamidele and others who sustained injuries on Friday.
“At this point, it is immaterial the political party that he belongs to, what is important is the life of an Ekiti son and I pray that God will touch Opeyemi Bamidele with His healing hands.
“Most importantly, Opeyemi Bamidele is a man that I have great respect for and since he has now been airlifted out of Ekiti for further treatment elsewhere, all we can do is to pray for him.”
Kwara State governor, Alhaji Abdulfatah Ahmed, has admitted that his government has been empowering youths in the state but that he could not be held responsible for what such youths do with the credits.
In a statement denying police allegation that he sponsored, funded and armed supporting political thugs who subsequently used such arms to rob banks and kill 33 people in Offa, Kwara State recently, the governor emphasized that while the state government had empowered several youth groups under its acclaimed Small and Medium Enterprises (SME) scheme, neither he nor the state government can be held liable for how beneficiaries utilize the credit.
The governor, in the statement issued by his Senior Special Assistant on Media and Communication, Dr. Muyideen Akorede, described the allegation as false, rejecting his alleged indictment by the Nigeria Police or the armed robbery suspects in their custody.
He advised the police to complete their investigations and charge the suspects to court soon in line with the dictates of the rule of law.
The Police had, in statement today, Sunday, by the Police Public Relations Officer, ACP Jimoh Moshood, said that five gang leaders and some of the 17 Offa bank robbery suspects arrested had confessed that they were political thugs of Senate President, Dr. Bukola Saraki and Kwara State Governor Abdulfatah Ahmed.
Senate President, Dr. Bukola Saraki has made it clear that his alleged arming of suspected armed robbers that robbed banks and killed 33 people in Offa, Kwara State recently was a plot by the Nigerian police to embarrass him and as vengeance by the Inspector General Police whom the Senate earlier invited to appear before it.
“This plot is concocted to embarrass me and, in the mind of the IGP (Inspector General of Police), it is his own response after his refusal to honour the invitation by the National Assembly, headed me, for him to come and offer explanations on the rampant killings and violence across the country.”
In a statement today, by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, the Senate President asked Nigerians to disregard the claim which he said is another ploy by the Police to implicate him by all means.
“Let it be known that there is no way I could have been associated with armed robbery against my people.
“Dr. Saraki said that when the Offa robbery incident happened, he was the first top public official to pay a visit to the place and right there in the palace of the traditional ruler, he put a call through to the IGP, requesting him to make certain specific security arrangements as demanded by the people.
“Members of the public will remember that on May 16, 2018, I alerted the Senate about the information passed on to me by my State Governor, Dr. Abdulfatai Ahmed, over a plot by the Inspector General of Police, Mr. Ibrahim Idris, to frame me up by getting some suspected cultists arrested in Ilorin to implicate me. It is believed that the timely leakage of the plot in that case aborted the use of the suspected cultists to implicate me. Now, it is the Offa bank robbery suspects that are about to be used.
“This plot is concocted to embarrass me and, in the mind of the IGP, it is his own response after his refusal to honour the invitation by the National Assembly, headed me, for him to come and offer explanations on the rampant killings and violence across the country.
“Like the earlier one, this frame-up will also fail as I hereby state categorically that I have no link with any band of criminals.
“As a person who has utmost respect for the rule of law and all constitutional institutions, when the invitation from the Police is formally extended to me, I will be ready to honour it without any delay.
“It is however sad that this abuse of the criminal investigation process aimed at intimidating and over-overawing the legislature, thereby obstructing it from doing its work, is a big threat to our democracy.“
Honesty and patriotism is the best legacy a man can leave behind, President Muhammadu Buhari said as he mourned the pioneer Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Justice Mustapha Akanbi.
Justice Akanbi, who was also once be the President of the Court of Appeal, died today, Sunday in Ilorin, the Kwara State capital.
In a condolence message, President Buhari described the deceased as a man whose greatest asset in life was his enviable integrity and incorruptibility, adding that he will be long remembered for his enormous contributions in bringing credibility and respectability to the country’s judiciary.
According to the President, “being respected by the people for your honesty and patriotism is the best legacy a man can leave behind.
“In a country where corruption is perceived as fashionable, Akanbi stood out as a remarkable man who put personal integrity and selflessness before the desire for money outside his legitimate income.”
Buhari said that Justice Akanbi’s greatest achievement was leaving the public service with his integrity intact and untainted, saying that throughout his distinguished career in the judiciary and public service, he resisted the defeatist mindset that ‘if you can’t beat them, join them.”
“Great men like Akanbi didn’t believe in joining evil because it was popular or supported by the majority,” the President said.
Also, the national leader of the ruling All Progressives Congress (APC), Asiwaju Ahmed Tinubu said that the death of Justice Akanbi was not just a loss to his family but to the nation.
Atiku said that the deceased was a renowned legal luminary, a highly respected judge and an elder statesman, adding that he was committed to the rule of law and social justice.
“Justice Akanbi was one of the few incorruptible judges the nation has ever produced. He epitomises all that is good about the judiciary.
“On the bench, as President of the Court of Appeal, he distinguished himself and gave the profession a good name.
“As pioneer Chairman of the Independent Corrupt Practices and Other Related Offences Commission in 2000, serving till around 2005, Justice Akanbi put in place the structures and laid the foundation for the working of the agency.
“It is painful that his transition comes at a time when President Muhammadu Buhari has put the fight against corruption at the front burner.
“His Lordship’s experience as a judge with a clean record had been quite useful for the country’s fight against corruption.
“The legal profession, which he served all his life, will miss him. Justice Akanbi will be particularly missed by lawyers, judges and other Nigerians whom he inspired through his exemplary leadership style and uprightness.
“I urge us all to seek solace in the fact that he lived a life of probity and was an inspiration to many citizens. My appeal is that we all emulate his sterling qualities.
“I commiserate with the family he left behind. I pray that God grant them the strength to bear this transition.
“I also pray that God grants his family and dependants the strength to bear his transition.”
The Nigerian Police have reported five suspected leaders of the armed robbery gang that ruthlessly robbed banks and police station in Offa, Kwara state recently of confessing that they were political thugs of, and being sponsored by the Senate President , Dr. Bukola Saraki and Governor Abdulfatah Ahmed of Kwara State.
On the basis of such confession, the police have therefore invited the Senate President, “ to report to the Force Intelligence Response Team office at Guzape, Abuja to answer to the allegations leveled against him from the confessions of the Five (5) Gang Leaders, namely; Ayoade Akinnibosun, Ibukunle Ogunleye, Adeola Abraham, Salawudeen Azeez, Niyi Ogundiran and some of the other Seventeen (17) suspects arrested for direct involvement and active participation in the Offa Bank Robbery and the gruesome killing of THIRTY THREE (33) innocent persons which includes (some pregnant women and nine (9) Police personnel).”.
In a statement today, Sunday by the Force Public Relations Officer, Force Headquarters, ACP Jimoh Moshood, the police narrated: “the Five gang leaders further confessed during investigation that they are political thugs under the name Youth Liberation Movement a.k.a “Good Boys” admitted and confessed to have been sponsored with firearms, money and operational vehicles by the Senate President, Senator Bukola Saraki and the Governor of Kwara State, Alh. Abdulfatah Ahmed.”.
“In the course of discreet investigation into the confessions of these five (5) gang leaders and the other seventeen (17) principal suspects, a Lexus jeep GX-300 (Ash Colour) with a sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” used by the gang leader (Ayoade Akinnibosun ‘M’ 37Yrs) during the bank robbery and the killing of the THIRTY THREE (33) innocent persons was taken to Government House, Ilorin on 16th May, 2018 where the sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” was removed before another plate number (Reg. No. Kwara, KMA 143 RM) registered in the name of Ayoade AKinnibosun the Overall Commander of the Offa Bank Robbery was then attached to the vehicle to cover up the identity of the said vehicle. The exhibit vehicle was subsequently recovered from the premises of the Min. of Environmental and Forestry in Ilorin, Kwara State. While the sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” removed from the vehicle was recovered from one Adeola Omiyale who drove the said Lexus Jeep to Government House, Ilorin immediately after the Bank Robbery.
“The Personal Assistant (Political) to the Executive Governor of Kwara State, Mr. Alabi Olalekan, who is privy to information that the Police is looking for the lexus Jeep as an exhibit used in the Offa Bank Robbery and the killings of THIRTY THREE (33) innocent persons directed one Adeola Omiyale to relocate the Lexus Jeep to Government House, Ilorin. The PA (Political) is currently in Police custody and has made useful statement assisting the Police in further investigation into the case. A revolver pistol and pump action gun were recovered by the Police Investigation Team from the Personal Assistant (Political) to the Executive Governor of Kwara State, Mr. Alabi Olalekan’s Farm where he directed his brother to hide them after his arrest by the Police.
“In order to conceal evidence, the Chief of Staff to the Executive Governor of Kwara State, Mr. Yusuf Abdulwahab who has been arrested and taken into Police custody, arranged the removal of the sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” from the exhibit vehicle and also registered the exhibit Lexus Jeep used in the Offa Bank Robbery and the killings of THIRTY THREE (33) innocent persons in the name of Ayoade AKinnibosun, the overall Gang Commander of the Offa Bank Robbery while the Ayoade AKinnibosun was already in Police custody for more than six (6) days before the registration of the vehicle.
Part of the statement goes thus:
The investigation into the Offa Bank Robbery and gruesome killings of more than THIRTY THREE (33) Innocent persons in Offa, Kwara State on the 5th April, 2018 directed by the Inspector General of Police, IGP Ibrahim K. Idris, NPM, mni, has made significant progress, successes and more revelations have been recorded. The Gang Leaders and some of the principal suspects arrested for their active participation in the robbery and the killing of innocent persons have made confessional statements admitting to the various criminal roles they and their sponsors played in this dastard and heinous crime.
The Five (5) gang leaders namely; Ayoade Akinnibosun, Ibukunle Ogunleye, Adeola Abraham, Salawudeen Azeez, Niyi Ogundiran and some of the other Seventeen (17) suspects arrested for direct involvement and active participation in the Offa Bank Robbery and the gruesome killing of THIRTY THREE (33) innocent persons which includes (some pregnant women and nine (9) Police personnel) admitted, confessed and volunteered statements that they were political thugs of the Senate President, Federal Republic of Nigeria, Sen. Bukola Saraki and the Executive Governor of Kwara State, Alh. Abdulfatah Ahmed.
The arrests of the above mentioned Five (5) Gang Leaders and seventeen (17) others were made possible after the arrest of two principal suspects (Kunle Ogunleye aka Arrow 35yrs and Michael Adikwu an Ex-Convict) whose pictures captured by CCTV in one of the Banks during the Banks robbery were circulated to the media and the public. The two (2) principal suspects confessed to be among the suspects led by the five (5) gang leaders listed in paragraph 2 above to carry out the Offa Banks Robbery, the attack on the Divisional Police Headquarters, Offa and the killings of THIRTY THREE (33) innocent persons on the 5th of April, 2018.
During interrogation, the five (5) gang leaders mentioned in paragraph 2 further confessed and volunteered statements that they carried out the Bank Robberies, the attack on the Divisional Police Headquarters in Offa and the killings of THIRTY THREE (33) innocent persons during the robbery of the following six (6) banks (i) First Bank Offa (ii) Guarantee Trust Bank Offa (iii) ECO Bank Offa (iv) Zenith Bank Offa (v) Union Bank Offa (vi) Ibolo Micro Finance Bank Offa and (vii) the Divisional Police Headquarters, Offa on 5th April, 2018.
Millions of Naira from the Banks and Twenty One (21) AK47 Rifles belonging to the Nigeria Police Force in the Armoury of the Police Divisional Headquarters, Offa were admitted to have been carted away by the Five (5) gang leaders and the other Seventeen (17) principal suspects during the Banks robbery.
The Five (5) gang leaders confessed and volunteered statements to the Police investigators, giving a clear account of how they planned and carried out the Banks robbery operation in Offa, the attack on the Police Division in Offa and how they killed the THIRTY THREE (33) innocent persons during the robbery.
Investigation is ongoing and effort is being intensified to arrest other suspects still at large. All suspects involved will be arraigned in court for prosecution on completion of investigation.
Meanwhile, the Senate President, Sen. Bukola Saraki is being invited by the Nigeria Police Force to report to the Force Intelligence Response Team office at Guzape, Abuja to answer to the allegations levelled against him from the confessions of the Five (5) Gang Leaders, namely; Ayoade Akinnibosun, Ibukunle Ogunleye, Adeola Abraham, Salawudeen Azeez, Niyi Ogundiran and some of the other Seventeen (17) suspects arrested for direct involvement and active participation in the Offa Bank Robbery and the gruesome killing of THIRTY THREE (33) innocent persons which includes (some pregnant women and nine (9) Police personnel).
The Nigeria Police Force will continue to ensure that the rule of law prevails in every case under Police investigation and every offender is brought to justice.
Twenty Two (22) Suspects now in Police Custody.
Senate President, Sen. Bukola Saraki is being invited to report to the Police to answer allegations indicting him from confessions of Five (5) Gang leaders arrested for active participation in Offa Bank Robbery and Killings of THIRTY THREE (33) Innocent persons.
SUSPECTS
Ayoade Akinnibosun a.k.a AY ‘M’ 37Yrs – Gang Leader (Coordinated the Killings) From Oro, Irepodun LGA, Kwara State.
Ibukunle Ogunleye ‘M’ 36Yrs – Gang Leader, Killed Two (2) Persons. From Oro, Irepodun LGA, Kwara State
iii. Adeola Abraham ‘M’ 35Yrs – Gang Leader, Killed Five (5) Persons. From Oro, Irepodun LGA, Kwara State.
Salawudeen Azeez ‘M’ 49Yrs – Gang Leader, Killed Two (2) Persons. From Oro, Irepodun LGA, Kwara State.
Niyi Ogundiran ‘M’ 37Yrs – Gang Leader, Killed Two (2) Persons (Latest Confession). From Oro, Irepodun LGA, Kwara State.
Michael Adikwu ‘M’ 30Yrs – Sectional Gang Leader, Killed Twenty Two (22) Persons, mostly at the Police Station.
vii. Kabiru Afolabi ‘M’ 26Yrs – Principal Suspect
viii. Omoseni Kassim ‘M’ 28Yrs – Principal Suspect
Kayode Opadokun ‘M’ 35Yrs – Principal Suspect
Kazeem Abdulrasheed ‘M’ 36Yrs – Principal Suspect
Azeez Abdullahi ‘M’ 27Yrs – Principal Suspect
xii. Adewale Popoola ‘M’ 22Yrs – Principal Suspect
xiii. Adetoyese Muftau ‘M’ 23Yrs – Principal Suspect
xiv. Alexander Reuben ‘M’ 39Yrs – Principal Suspect
Richard Buba Terry ‘M’ 23Yrs – Principal Suspect
xvi. Peter Jasper Kuunfa ‘M’ 23Yrs – Principal Suspect
xvii. Ikechukwu Ebuka Nnaji ‘M’ 29Yrs – Principal Suspect
xviii. Moses Godwin ‘M’ 28Yrs – Principal Suspect
xix. Adeola omiyale ‘M’ 38Yrs. From Isanlu Isin Town, Isin LGA, Kwara State.
Femi Idowu ‘M’ 34Yrs
xxi. Alabi Olalekan ‘M’ 49Yrs-PA Political to Executive Governor, Kwara State
xxii. Yusuf Abdulwahab ‘M’ 58Yrs –Chief of Staff to Executive Governor, Kwara State
EXHIBITS
Two (2) AK47 Rifles
Two (2) Barrette Pistols
iii. One (1) Pump Action Rifle
One (1) Revolver Pistol – In Police Custody in Ilorin
Lexus RX300 Jeep with Reg. No. Kwara, KMA 143 RM belonging to Ayoade Akinnibosun (Gang Leader) – Used for the Bank Robbery
Mercedes Benz – Compressor with Reg. No. Lagos LT496 KJA belonging to Ayoade Akinnibosun (Gang Leader) – Used for the Bank Robbery
vii. One (1) Toyota Prado Jeep with Reg. No. 19KWGH belonging to the PA Political to the Executive Governor, Kwara State – In Police Custody in Ilorin
viii. One (1) Toyota Camry Saloon Car with Reg. No. LRN 481 FE – In Police Custody in Ilorin
The Cash Sum of Six Hundred Thousand Naira (N600,000.00) – In Police Custody in Ilorin
Four (4) Phones of victims recovered
One (1) Sticker plate number with inscription “SARAKI” “Kwara, State of Harmony.” [myad]
Vice President Yemi Osinbajo has swore that the Muhammadu Buhari-led federal government has dealt a big blow on what he called ‘grand corruption.’
“In terms of corruption, I think that we were able to deal with grand corruption. By that, I mean the sort of corruption where you found huge sums of money missing from the treasury and all of that. And because we were able to control grand corruption, we were able to do more with far less.”
The Vice President made the points in a special interview he granted, David Pilling (Africa Editor of the Financial Times), at the Financial Times Nigeria Summit, with the theme: “Dispelling Uncertainty and Building Resilience,” at the Eko Hotels and Suites, Lagos.
Read the interview:
Q: Views of critics that the Buhari administration didn’t make the most opportunity of the recession to diversify the economy. Vice President: First, the nature of the crisis, of course, even beyond low oil prices, we were also experiencing considerably reduced oil production. At some point, we were producing less than a million barrels of oil per day, that being the major source of revenue at the time. But I think that what we did during that period was also very important in bringing the strong outcome that we are seeing today. In terms of corruption, I think that we were able to deal with grand corruption. By that, I mean the sort of corruption where you found huge sums of money missing from the treasury and all of that. And because we were able to control grand corruption, we were able to do more with far less. So, for example, we invested N1.3 trillion in 2016 on capital for the very first time in almost 10 years of the country’s economic history. So, if we were able to invest more when oil prices at some point, were $50 or $60, than when oil prices were at $110, $114; especially on infrastructure and capital; I’m sure anyone could say that there is something wrong with that. I think we managed to do far more with less. Q: What else had been done by the administration? Vice President: If you look at the different sectors, let’s take agriculture, for example, we have recorded very significant growth in agriculture. We are looking to gain at least 3.6 per cent growth in agriculture. That is particularly important to us, because in thinking of diversification of our economy, agriculture is, of course, a fitting point, and we closed that gap. Take rice for example, we were importing rice in the order of about $1.6 billion a year, which is about $5 million every day. Today, we are down to importing just about two per cent of the rice that we consume. So we have at least, ramped up rice production, we are practically self-sufficient. Q: What role did government play in this regard? Vice President: No, it is creating the right environment. For example, the Anchors Borrowers Programme was an important programme in getting people back to the farms, and also, which is one very part of this whole process, we supported the big millers in being able to increase a lot of the paddy rice that was being produced. So there was a genuine effort to ensure that we are able to not just ramp up the production of rice, but also milling, and we found that the private sector responded to that, and we found the big millers, WACOT and others. Dangote is now investing about a million metric tonnes of milling capacity. I think that at this stage, agriculture has recorded significant improvement. Also mining, because of the focus on mining, growth continued through the recession and growth has continued even now… Q: Nigeria’s manufacturing capabilities. Vice President: We are trying to create the right environment for manufacturing, and for business generally. And we took time to focus on the business environment with our Ease of Doing Business initiative, and we worked on various areas, including access to credit, access to registration of title, company registration, taxation and all of those things. We looked at all of the different areas in our Ease of Doing Business, with a view to making life easier, to creating the right environment for manufacturing and for business generally. And we’ve recorded significant growth and this we are seeing in the growth that we are seeing today. I’m sure you are familiar with how our World Bank rating went up and we were also considered one of the best reforming countries in the world. Of course, there has been a lot of damage to the environment in terms of business and all that, but correcting that would take a while, don’t forget that we (this administration) are barely three years old. And we are focused on doing the right thing. Q: A four-year term seems too short for Nigeria… Vice President: I think that for anyone who is in office, it would be too small (general laughter), because obviously you have all manner of plans and things to deliver. But my take is that the moment you have the right people and you put the right structures in place, you can do a lot, and I think we’ve been blessed with an incredibly good team. Q: What areas hasn’t the administration been able to achieve all that it had planned to? Vice President: I think the one thing we wanted was for us to be much farther ahead in terms of manufacturing. But a lot of these things are also infrastructure constraints that cannot be developed overnight; which explains why we are investing heavily in infrastructure; rail, road and power, especially rail. This is the significant part of the investment that we are doing; concessioning the Lagos-Kano to General Electric, the narrow gauge, developing the standard gauge is important in terms of just movement of goods and all that. A lot of these initiatives would be a great help in moving goods. Q: Why hasn’t Nigeria signed the African Free Trade Agreement yet? Vice President: Nigeria has one of the most vibrant private sectors. Manufacturers associations, in particular, and several others felt that we shouldn’t go into this without further consultations, and we wanted to know exactly what specifically in terms of negotiations that will follow the signing of the framework. And it was the President’s opinion that it would be much wiser for us to suspend the signing until all of those engagements had been done to the satisfaction of the private sector. We work very closely with the private sector in practically everything that we have done. For us, it is important to sit back, take a look at those negotiations first before heading into the framework, which is really what we are doing at the moment. So, where we are is that we are looking at the nitty gritty and we are trying to be sure how it is going to play for our private sector people, for industry, for trade, etc. We are not saying we are going to renegotiate the framework; the framework is already there. Our greater concern is for the specifics. And we are at a point where before we go into that, we will certainly make sure that we are happy with the terms and conditions. Q: How is the administration tackling Nigeria’s security challenges? Vice President: First of all, let me say that the nature of the security threats is asymmetric coping with it. And this is the same with countries all over the world; coping with terrorism is the sort of thing that most countries are grappling with. I think that we are dealing with that as well. And my take is that the way we are going about it is the right way, in other words, we are working with partners in the sub-region to ensure that we are able to stem the flow of small arms for example. We are also working on developing our local capacity. One of the strong initiatives that we are pushing is community policing; because a lot of the terrorism that you see are the sorts of opportunistic attacks that require local policing. And one of the strong initiatives that we are pushing is the whole question of the state police; more local and community policing, and we are working on those initiatives with the governors, like in the National Economic Council, which I have the privilege of chairing. We are trying to see how we can do more in terms of local policing, intelligence gathering, in order to be able to respond much more quickly to some of the threats that we see. For example, in Benue State, we have deployed Special Forces now to several of the places where we have the disturbances. So, it is an ongoing engagement, and, as I said, asymmetric threat of this nature means that we just have to keep planning ahead as much as we can. Q: Criticisms of government’s efforts in tackling herdsmen/farmers clashes. Vice President: If you look at the herdsmen/farmers clashes, it is a different type of problem (to the issue of Boko Haram) and it has to be dealt with differently. Note that this crisis did not start with the Buhari government. These clashes have been going on for years. I think we are at a point that we believe that the right response; our response, has to be robust to ensuring that we are able to keep communities safe, which is what is going on. We are doing that in various parts of the North central. Q: On Nigeria’s dependence on oil revenue. Vice President: I think that what we are doing is that we are managing our finances far better. Today oil prices are about $80 a barrel. Our reserves are at $47 billion, which is the highest in about 10 years, comparable to 2013 when oil prices were higher. So beside the Sovereign Wealth Fund, we have invested far more; we’ve almost tripled our investment in the Sovereign Wealth Fund. I think the question about whether you spend or you don’t spend is really more a question of how you manage the resources in the first place. For us, I think that the management of resources has been a strong point. I think we have managed our resources well. Which explains why we focus a great deal on diversifying; agriculture, manufacturing. We’ve focused on trying to diversify as much as possible, and we think that it is the path to go. There is no other way of doing this. And if you look at the figures, there has been tremendous improvement, in the export of raw materials, agriculture produce, even manufacturing has improved. I think that we are on the right path. I am convinced that we are going to stay the course.
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Members of the House of Representatives ad hoc committee one day investigative hearing on the reason for the failure of Ajaokuta Steel Company in Kogi State were surprised to hear that the Nigerian federal government has been losing about $4.5 billion which should have come into the Federation Account.
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Operators of Bureau De Change (BDC) in the country are now free to buy the United States dollar from the Central Bank of Nigeria (CBN) at the rate of 
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Vice President Yemi Osinbajo has swore that the Muhammadu Buhari-led federal government has dealt a big blow on what he called ‘grand corruption.’