Nwaoboshi Graduates From Senate To Prison For 7 Years, Over Money Laundering

July 1, 2022

Senator Peter Nwaoboshi, currently representing Delta North Senatorial District at the National Assembly, is now to be transferred to prison where he will spend seven years for money laundering.

He was convicted and sentenced today, July 1 by the Lagos Division of the Court of Appeal, which ordered that his two companies, Golden Touch Construction Project Ltd, and Suiming Electrical Ltd, be wound up in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.

The ruling of the Court of Appeal followed an appeal that challenged the judgment of Justice Chukwujekwu Aneke of the Federal High Court which on June 18, 2021 discharged and acquitted the defendants of a two-count charge of fraud and money laundering.

The case started when the Economic and Financial Crimes Commission (EFCC) arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, in Apapa, Lagos, at the cost of N805 million.

The Commission had argued that part of the money paid to the vendor, the sum of N322 million which Suiming Electrical Ltd had transferred on behalf of Nwaoboshi and Golden Touch Construction Project Ltd – was part of the proceeds of fraud.

However, ruling on the matter, Justice Aneke held that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.

Justice Aneke said that the evidence of police Witness (PW2): “proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for purchase of additional equipment and as the provision of working capital.

“It also proved that the loan of N1.2 billion together with interest of N24 million was properly granted to the third. Nothing else was proved by the complainant or prosecutor in this case,” the EFCC quoted the judge as saying in a statement.

He claimed a fatal blow was dealt the case of the prosecution by its failure to call officials of Sterling Bank “to testify and probably tender exhibits F and F10”.

He, therefore, discharged and acquitted the defendants.

However, ruling on the EFCC’s appeal, the Court of Appeal held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offence and consequently found the defendants guilty as charged.

Federal Government Perfects Plans To Concession Zungeru Hydroelectric Power Plant

Editorial staff

July 1, 2022

The Federal Government of Nigeria has perfected plans to engage in the concession of the Zungeru Hydroelectric Power Plant (ZHPP).
The National Council on Privatization (NCP), at its meeting today, July1, in the Presidential villa, Abuja approved the fast tracking of the work on the plan, even as it also approved the board composition and proposed governance framework for the sustainable management and payment of post-privatization liabilities of the power sector transferred to the Nigerian Electricity Liability Management Company (NELMCO) Board.
Rising from the meeting which was presided over by Vice President Yemi Osinbajo, the Council composed NELMCO to include the Minister of Finance, as Chairman; while members will comprise the Minister of Power; Director General, Bureau of Public Enterprises (BPE); Director General, Debt Management Office (DMO); Managing Director, NELMCO; and all its Executive Directors. It was also resolved that two key members from the private sector be included in the board.
The Council noted that the key objectives of the Zungeru Hydroelectric Power Plant concession include leveraging private sector access to finance and reduce reliance on government budgetary allocation to fund the China EXIM Bank loan; and leveraging efficiencies and better facility management (maintenance) culture of the private sector for long-term preservation of the asset.
The Council had, in its December 2020 meeting, approved the concession of the ZHPP.
The Council, which was briefed on the performance assessment report of the nine Electricity Distribution Companies (DISCOs), forwarded the report to the Nigerian Electricity Regulatory Commission (NERC), the sector regulator, for further review and action.
The Council noted that a thorough performance assessment revealed that most of the set performance targets were not met by the 9 DISCOs.
The meeting had in attendance Federal Ministers and representatives of Federal Ministries such as the Minister of Water Resources, Engr. Suleiman Adamu; Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh; heads of MDAs and other senior government officials.

Accord Party Governorship Candidate In Osu Claims He’s New Obafemi Awolowo

Editorial staff

July 1, 2022

The Osun State governorship candidate of the Accord Part, Dr. Akin Ogunbiyi has described himself as the new Chief Obafemi Awolowo, in view of his revolutionary agenda as as containedin his manifesto for the state.

Ogunbiyi spoke at his Campaign Office in Osogbo while hosting about 50 leaders of the All Progressives Congress (APC) from across the state who said they decided to support his ambition having seen him as the best among other contenders to the government House.

The Accord party flag-bearer who promised to lift his state out of the monolithic economy as a “civil servants state” by making use of the state’s abundant resources in agriculture, mineral resources and the large human capital deposits.

He said that he has the ability to start things from the scratch and see to their fruition just as he did when he ventured into his conglomerates in the corporate world.

Ogunbiyi said that apart from the God given resources in the state, he will make use of Osun people who “are highly educated and enterprising and who can be found in all walks of life” in breaking the monolithic economy jinx.

“I am a local boy. I have my primary and secondary education at Ileogbo and my first degree at Ile-Ife. I am well trained, exposed and experienced to do this”, he said.

Ogunbiyi, who is an insurance magnate said that apart from giving education attention it deserves, his first steps will be recruiting new teachers and retraining the old ones. “Our teachers will be motivated, trained and promoted.”

He promised to fully engage in all sectors of agriculture including crop production, livestock, forestry and fishing and make the state the food basket of the entire South-West.

“Agriculture is a multibillion dollar investment. We can produce another Awolowo, somebody that has the intellect, the capacity and the experience to develop something little to something bigger. I will go all out to be that person,”

Late Chief Obafemi Awolowo was a legend, a statesman, a cerebral politician who was highly adored especially among the Yoruba people because of his prowess and great achievements as the first premier of the old Western Region.

Shake Up In NCC Throws Up Reuben Muoka, Celebrated Editor, As Director Of Public Affairs

Editorial staff

July 1, 2022

The Management of the Nigerian Communications Commission (NCC) has made some adjustments in its hierarchy, leading to the appointment of an innovative journalist and consummate public relations practitioner, Reuben Muoka being appointed as new Director of Public Affairs (DPA).
Reuben Muoka takes over from Dr. Ikechukwu Adinde, who has assumed duties as the Director of Special Duties Department of the Commission.
A statement today, June 23, signed by the of the Executive Vice Chairman/Chief Executive Officer of the Commission, Prof. Umar Danbatta, said that the new spokesman was recently promoted a substantive director, alongside Ismail Adedigba, now Director of Research and Development (R&D); and Gwa-Tobi Mohammed, who has also assumed duties as Director/Secretary to the Board of the Commission.
The statement said that Muoka was in 2021, appointed to head the Special Duties Department, which superintends the International Relations Unit; Emergency Communication Centres Unit; the Public Private Partnership Unit; and the Security Services Unit of the Commission. He was promoted as Director of the Department before his current redeployment to lead the Public Affairs Department, the arm of the Commission mandated to manage the image and visibility of Nigeria’s telecom regulator and a leading light of the Nigerian public service.
it said that Muoka is expected to bring his rich and versatile experience in both specialized and traditional journalism, public relations, integrated marketing communications (IMC), corporate communication and people management, to bear on the Commission’s vision to expand the frontiers of its public goodwill and the impact of its reputational assets.
The new spokesman is a former Deputy Communications Editor of the Vanguard Newspapers, former Deputy General Manager at MTS First Wireless (Nigeria’s first mobile telephone operator), Muoka joined the NCC in 2007 as a Principal Manager, and was deployed to the Public Affairs Department where he headed the Media and Public Relations Unit. He later rose from the rank of Principal Manager to the position of an Assistant Director in 2010, and by 2015, as a Deputy Director, appointed to head the re-engineered Public Relations Unit of PAD. In 2017, he was redeployed to the Policy, Competition and Economic Analysis Department to head the Economic Analysis unit of department.
Muoka earned M.Sc. degree in Mass Communication from the University of Lagos, specialising in Public Relations and Advertising, where he had earlier successfully completed a Postgraduate Diploma (PGD) in the same field of Mass Communication. Much earlier, he had obtained a bachelor’s degree in Performing Arts at the University of Ilorin.
As a mark of his distinctive journalism career, Muoka received a fellowship of the Egyptian Embassy in Nigeria to undertake a Pan-African training and tour of Egypt in 1999, leading to an award of a continental Diploma Certificate in Journalism at the instance of the Egyptian Ministry of Information, and the African Journalists Union (AJU) in Cairo, Egypt.
The focused, innovative and illuminating coverage and analysis of the Information and Communications Technology (ICT) in the pre and immediate post liberalisation period of telecom industry in Nigeria is credited to the insights of visionary journalists like Muoka, whose pioneering initiative led to the establishment and institutionalisation of the Hi-Tech Desk in Vanguard Newspapers in late 1990s. As the Chairman of the League of Communications Correspondents (LECCO), Muoka led his colleagues to give voice and focus to the advocacy for the liberalisation and deregulation of the telecom industry in Nigeria in the 1990s.
During his active days in journalism at Vanguard Newspapers, Muoka served concurrently as Africa’s contributing editor to the London-based CommunicationsWeek for four years beginning from 1998, during which he undertook copious reportage of the African telecom landscape. The London-based magazine shared Muoka’s work to an enthusiastic global audience in a rare showcase of Africa’s promise as a flourishing point for the emergent converging telecommunications industry.
Between 1995 and 2001, Muoka leveraged his expertise to provide part-time public relations consultancy to notable companies and institutions in the telecommunications industry, including the Nigerian Mobile Communications Limited, Abuja; Multi-links Telecommunications Limited, Lagos; Satellite Telecommunications Limited, Lagos; Pulse Marketing Communications Ltd, Lagos; and the Nigerian Communications Commission, Abuja, years before he joined the Commission as a staff.
Reuben Ejike Muoka is a member of the Nigeria Union of Journalists (NUJ); a full member of the Nigerian Institute of Public Relations (mnipr); and an associate member of the Registered Practitioners of Advertising (arpa), regulated by the Advertising Practitioners Council of Nigeria (APCON).
Professor Danbatta, said in the statement that on behalf of the Board and Management of the Commission, he heartily congratulate Reuben on his new role and look forward to working closely with him and his team in Public Affairs Department, as key internal stakeholders in the Commission’s re-engineering processes to meet and surpass Federal Government’s expectations for a robust telecommunications sector and a remarkably emergent digital economy.

Buhari Felicitates With Och’Idoma In Benue State For His Investiture

Editorial staff

July 1, 2022

President Muhammadu Buhari has congratulated the 5th Och’Idoma, Dr John Elaigwu Odogbo in Benue State, for his investiture, whose academic, work and leadership credentials he said, hold promise for his people.

In a statement today, July 1, by his spokesman, Garba Shehu, President Buhari acknowledged the zeal and diligence of Dr. Odogbo in seeking knowledge and sharing his wisdom, working for more than two decades with the Federal Inland Revenue Service, during which he earned a doctorate in accounting and taxation, and trained many staff.

The President said that the national and international exposure and network of the traditional ruler over many years sets a new standard for the domain, creating a good setting for progress through the marriage of the traditional and the modern, by placing the people first.

“As a public servant, educator and Christian religious leader, President Buhari affirms that Dr Odogbo’s wealth of experience will play out in guiding citizens on the path of peace, prosperity and development in the state and beyond, considering the steadily rising influence and impact of the Idomas in nation building, especially in leadership positions.”

The President prayed for the wellbeing of the Idoma nation, and most importantly, good health and wisdom for the Paramount Ruler.

Nigeria, Portugal Sign Memoranda of Understanding In Different Sectors

Editorial staff

July 1, 2022

Nigeria and Portugal have signed Memoranda of Understanding (MOU) for cooperation in different sectors. The signing ceremony was done by cabinet level officials from the two countries as part of President Muhammadu Buhari’s State Visit to the European Union country.

The MoUs signed include Political Consultations; Diplomatic Training, Research and the Exchange of Information and Documentation; Cooperation in the Field of Culture; and Cooperation in the Field of Women and Girls Development, Empowerment and Gender Affairs; Youth; and Sports.

At a business forum organized during the visit, at which some of the MoUs were finalized between the two countries’ investment promotion agencies and chambers of commerce, President Buhari had described the progress in signing the agreements ‘‘as excellent foundations for increased bilateral trade.’’

This was even as the Nigerian President expressed gratitude and appreciation to the Mayor of Lisbon, Fernando Medina and City Council Members, for accommodating Nigerians as well as those fleeing the war in Ukraine.

He thanked Fernando Medina for graciously receiving the Nigerian delegation in the ‘beautiful and historic coastal city of Lisbon,’ commending the excellent manner the city is administered, as a prime global tourist destination.

“The city of Lisbon shares a number of similarities with some Nigerian cities such as Lagos, the former capital of Nigeria, whose name was given by the Portuguese explorer Rui de Sequeira, who visited in 1472, naming the area around the city, Lago de Curamo, which means Lake of Curamo.

“Both cities are rich in history and are also commercial nerve centres that host multinational corporations, industries, and major seaports. We are optimistic that these shared features can be harnessed to promote increased trade and people-to-people contact for the benefit of our two countries.

“Nigeria, like Portugal, has many unique, historic, and cultural assets, as well as a developing hospitality industry, which both countries can exploit to promote tourism.

“We are also keen to establish a direct air link between our two countries to further stimulate tourism, people-to-people contact and social, sporting and cultural relations.”

President Buhari said that Nigeria has made great strides in diversifying its economy beyond oil and gas, recording successes in agriculture, manufacturing, infrastructural development, among others.

He invited prospective investors to Nigeria as the next top investment destination, saying: “we are ready to extend our bilateral trade beyond oil and gas.”

Earlier, the Mayor of Lisbon, Fernando Medina, had extolled Nigeria’s greatness, especially in her ability to turn diversity into greatness: “We have one thing in common. We believe diversity is key. Nigeria is a great nation. Former President Obama said that about you, that you strive to overcome division and turn Nigeria’s diversity into a source of strength, so you are able to build the largest economy in Africa. I so much agree with that.

“Diversity is a matter of innovation and that’s why we both have excellent innovation ecosystems. You have just opened one of the biggest Urea plants, I think the second in the world and the largest fertilizer centre in Africa making your country self-sufficient.”

“You have produced five out of the seven unicorns, the big companies in Africa. You have one of the biggest projects on biometrics identification that has helped the banking system with relevant contributions for some Portuguese companies. So we want to work with you and your innovators. We need you. We need the African continent. We need to work with you peer to peer.”

He revealed his plan for Portugal to launch a “Unicorn Factory” in Lisbon and his desire to have those African, Nigerian unicorns with them.

The Mayor who presented the keys of the City of Lisbon to President Buhari, emphasized the cultural, historical, political and diplomatic ties between Lisbon and Abuja, describing the keys as “a token of respect and appreciation.”

University Vice Chancellors Call On Buhari To Intervene In Prolonged ASUU, FG Face-Off

Greenbarge Reporters

July 1, 2022

The Committee of Vice-Chancellors of Nigerian Universities called on President Muhammadu Buhari to quicken the process of resolving the ongoing dispute between the Federal Government and the Academic Staff Union of Universities (ASUU), Non-Academic Staff Union of Universities (NASU) and the other tertiary education institutions currently on strike.

The Chairman of the Committee, Professor Samuel Edoumiekumo, who spoke yesterday, June 30 at the launch of the Intellectual Property Policy Document for Universities in Abuja.

“We plead that drastic action is taken to stem the hemorrhage that the system is currently witnessing. For the sake of our children and our society, we need the decision,” he said.

Speaking on the policy document being launched, Edoumiekumo explained that the document had been through six stages of preparation and conforms with the World Intellectual Property Organisations (WIPO) format on Intellectual property policy development.

“Intellectual property became the focal point of the deliberation given its essential role in the academic operations of universities in particular and the principal role of ideas in a knowledge-driven economy and society”.

According to him, “over the years, there have been several attempts by the Copyright Commission, which is the regulatory body, to ensure that academic institutions properly codify their intellectual property policies to conform with the World Intellectual Property format”.

“The CVCNU recognized this as a significant venture and worked with the NCC to develop a model intellectual property policy upon which universities that do not currently have one can build.

“The model policy document contains clauses that clearly state the ownership of ideas and inventions that are developed with resources from the universities and the rights of use,” he said.

He explained that the document clarifies issues relating to research contracts, incentives, rewards and compensation for intellectual property that arise from its commercialization.

“It advises on how to maintain IP assets and resolve conflicts of interests, conflicts of commitments, and other disputes. A vital part of the draft document is how to accommodate the Expression of Folklore, Traditional Knowledge, and Genetic Resources in our IP policy document.

“Following today’s presentation, we expect our universities to develop their policies based on their particular operating environment and upload their final Senate-approved copies of the WIPO portal for global access.

“The CVCNU will track this development and constantly report to its members’ and stakeholders’ progress in this regard,” he said.

ASUU has been on strike since February 14th, 2022, citing different demands that the FG had failed to meet as its reasons. Some of the demands include payments of salary arrears, better working conditions, renegotiation of the 2009 FG-ASUU agreement, payment of earned academic allowances, funds for the revitalization of public universities, and promotion arrears, and poor funding of state universities.

Other tertiary institution unions also on strike include the Senior Staff Association of Nigerian Universities (SSANU), the Non-Academic Staff Union of Educational and Associated Institutions (NASU), and the National Association of Academic Technologists (NAAT).

SSANU and NASU had announced the extension of their strike by two months on Wednesday, 22nd June, saying that the strike would only end when the Federal Government meets members’ demands.

Another tertiary education institution currently on strike is the Colleges of Education Academic Staff Union (COEASU) which announced the commencement of a one-month strike starting on Tuesday, June 14, 2022.

Benue Journalists Sympathize With Gov Ortom’s Spokesman Over Mother’s Death

Editorial staff

July 1, 2022

The Conference of Benue Journalists (CBJ) has sympathized with Nathaniel Ikyur, the Chief Press Secretary (CPS) to the Benue State Governor, Ortom, over the death of his mother, mama Rachael Mbawuhen Ikyur.

Late mama Mbawuhen died on June 22, 2022 at the age of 78 and will be buried tomorrow, July 2 at the family home in Tarka local government area of Benue State.

In a statement today, July 1 by its President, Dr. Anule Emmanuel, the journalist group said that the death of the CPS mother is sad, saying that her virtue of kindness and love for humanity is most needed now in the family and the community.

“Mothers are the most valuable thing in our lives and losing them is irreparable. Your mother was an epitome of kindness and a woman very known for her good deeds.”

The CBJ President advised the Chief Press Secretary and members of the family to always remember the useful life mama Ikyur lived, worthy of emulation in their moment of mourning the deceased.

Dr. Anule then prayed for the soul of mama Rachael Mbawuhen Ikyur to rest in peace.

Nigeria Redeems $300 Million Diaspora Bond – Debt Management Office

Greenbarge Reporters

July 1, 2022

Nigeria has redeemed its 300 million dollars diaspora bond which matured on June 27. This is according to a statement by the Debt Management Office (DMO) on its website.

The DMO said that the diaspora bond was issued on June 27, 2017 for a tenor of five years in the International Capital Market.

It added that the country had earlier redeemed 500 million dollars Eurobond bond in 2021, adding that proceeds of the diaspora bond were used, partly, to finance the deficit in the 2017 budget.

The DMO said that the diaspora bond also created an opportunity for Nigerians in the diaspora to invest in their home country.

“With the redemption of 500 million dollars Eurobond in January 2021, and recently the 300 million dollars diaspora bond , the government has increased investors’ confidence.

“It shows the country’s commitment and ability to fulfil its debt obligations at maturity, thereby reinforcing its presence in the International Capital Market.”

Agriculture: CBN Advances N1.75 Billion To 14,258 Framers

Greenbarge Reporters

July 1, 2022

The Central Bank of Nigeria through the Agricultural Credit Guarantee Scheme Fund (ACGSF) has provided 14,258 farmers in the Federal Capital Territory with loan of N1.75bn.

The ACGSF chairman, Stephen Okon, who spoke yesterday, June 30 at the National Farmers Award in Abuja, said that out of this amount, 973,646 beneficiaries of the loan had repaid a total of N98.91bn.

He said that the ACGSF has introduced new strategies to repackage and reposition the scheme for greater effectiveness and efficiency, saying that this would position Nigeria to become self-sufficient in food production.

He said that the scheme is also creating millions of jobs, supplying key markets across the country and dampening the effects of exchange rate movements on local prices.

Okon explained that the scheme has proved relatively successful in de-risking the agricultural sector in Nigeria as evidenced in the number of loans guaranteed from inception to date.

“A total of 1,232,326 loans valued N130.903bn were guaranteed from inception to May 2022 out of which 973,646 beneficiaries had repaid a total of N98.91bn.

“It is worthy of note that the FCT from January to May 2022 has guaranteed a total of 82 loan beneficiaries under the scheme, valued N22.580m.

“This brought the total guaranteed loans in the FCT from inception of the scheme in 1978 to May 2022 to 14,258, valued N1.748bn.”

He said that the maximum for a non-collateralized loan has increased from N20,000.00 to N100,000.00 and the maximum for a collateralized loan from N10m to N50m.

Okon added that to further encourage participants in the Scheme, the Board last year approved the increase of the Interest Draw Back rebate for farmers and participants in the agricultural value chain from 40 per cent to 50 per cent to cushion the effect of the COVID-19 pandemic.

The Branch Controller, CBN Abuja branch, Ogbu Michael while speaking at the event said that the successes achieved under the ACGSF has led to significant improvement in Deposit Money Banks’ lending to the agricultural sector.

He said that the COVID-19 pandemic and the Russian-Ukraine war has affected global supply chain, noting that the CBN agric and other real sector interventions has helped in insulating the economy from external shocks.

1...502503504...2,507 Page 503 of 2,507