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HEDA Urges EFCC To Prosecute Accomplices In N109bn Accountant General Fraud

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Following the alleged financial fraud of N109bn hanging on the neck of the suspended Accountant-General of the Federation, Idris Ahmed, and other suspected partners in crime, the Human & Environmental Development Agenda (HEDA Resource Centre) has written the Economic & Financial Crimes Commission (EFCC) to as a matter of urgency commence criminal prosecution against all accomplices of the fraud.

In a letter signed by HEDA’s Chairman, Olanrewaju Suraju, and addressed to Executive Chairman of EFCC, Mr. Abdulrasheed Bawa, the anti-corruption group anchored its request on the revelation made by the first prosecution witness, Hayatudeen Ahmed (an operative of the EFCC) who investigated the allegations against the Defendants and informed the Court amongst others that some figures amounting to N94.39 billion was paid into the second defendant’s bank account.

The EFCC Operative (Hayatudeen Ahmed) who bore the witness maintained that the second defendant allegedly distributed the money between a former Deputy Governor of Abia State and Commissioner with the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) who was given N18.8 billion; the Commissioners of Finance in the 9 oil-producing states were given N21.4 billion amongst others.

It is noteworthy that the money were converted to the US dollars before it was handed over to the beneficiaries.

“As a leading Anti-Corruption Organization and Non-partisan Human Rights and Development league with the mandate to protect and promote universally recognized human rights, public accountability, transparency and environmental justice in Nigeria and Africa, in accordance with International best standards, we urge EFCC to commence deeper investigations and criminal prosecution of all Nine (9) Commissioners of finance in the 9 oil producing states in Nigeria and others actors involved in the alleged N109 billion fraud and conspiracy perpetrated by the suspended Accountant-General of the Federation; Mr Idris Ahmed.

“These monies was meant to alleviate the sufferings, pains, environmental hazards and poverty of the oil producing states but brazenly diverted by those entrusted to represent their interests. This singular action has impoverish the Nigerian citizens in those areas at this critical period. These sadists should never be allowed to go scot- free,” he stressed.

He reiterated HEDA’s commitment to stamp out corruption, promote good governance across board, ensure sound administration and prudent management of public resources and advance the course of environmental justice for the benefit of every Nigerian in line with its mandate.

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Lagos State Govt Invade Shops, Confiscate Styrofoams Aka Take Away Packs

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Officials from the enforcement agencies under the Lagos State Ministry of the Environment and Water Resources on Thursday, March 29, intensified the mopping up of banned styrofoam food containers across markets in the state.

Recall that the state government banned the use of Styrofoams in the state in January this year.

Announcing the ban, the state Commissioner for Environment and Water Resources, Tokunbo Wahab, said the decision was reached following the menace the single-use plastics especially the non-biodegradable Styrofoams were causing on the environment.

 

Lagos state govt invade shops, confiscate Styrofoams aka Take Away packs (photos)

 

 

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CBN Pegs Minimum Capital Base For Banks At N500bn, N200bn

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The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion.

A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasised that all banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026.

CBN spokesperson, Hakama Sidi Ali, confirmed the development in Abuja on Thursday.

According to Ali, the new minimum capital base for commercial banks with national authorisation is now ₦200 billion, while the new requirement for those with regional authorisation is ₦50 billion.

The apex bank also disclosed that the new minimum capital for merchant banks would be ₦50 billion, while the new requirements for non-interest banks with national and regional authorisations are ₦20 billion and ₦10 billion, respectively.

The announcement comes just days after CBN Governor, Olayemi Cardoso, urged deposit money banks to expedite action on the recapitalisation of their capital base in order to strengthen the financial system.

Last November, Cardoso, who assumed office two months earlier, had said commercial banks in the country would be directed to increase their capital base to service a $1 trillion economy ambition of the President Bola Tinubu administration.

The last time the CBN increased capital base for banks was in 2005, when the current Anambra State Governor, Charles Soludo, was the apex bank chief. Capital base was raised from ₦2bn to ₦25bn.

 

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Okuama Massacre: Military May Place Bounty On Monarch, Others Declared Wanted

“We will do whatever it takes to get these people, even if it means we place a bounty on them, we will do that.”

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The Nigerian Defence Headquarters, DHQ, has revealed plans to place a bounty on those declared wanted over the killing of 17 soldiers in Okuama community, Delta State.

The Director of Defence Media Operations, Major General Buba Edward said the military was fully committed to apprehending all individuals who have been declared wanted.

In a statement, Edward said: “We will do whatever it takes to get these people, even if it means we place a bounty on them, we will do that.”

On March 14, the troops of 181 Amphibious Battalion, Bomadi Local Government Area of Delta State, while on a peace mission to Okuama Community, were ambushed and killed by some irate youths.

The deceased soldiers were buried at the Military Cemetery in Abuja on Wednesday.

Shortly after their burial, the Military declared eight people, including a woman, wanted.

The suspects include: Prof. Ekpekpo Arthur, Andaowei Dennis Bakriri, Akevwru Daniel Omotegbo (a.k.a Amagben), Akata Malawa David, Sinclear Oliki, Clement Ikolo Ogenerukeywe, Reuben Baru, and Igoli Ebi.

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