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EFCC Probes N’Assembly’s N300bn Allocation in 2014, 2015 Budgets

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Achike Udenwa

The Federal Government has started investigating how the 2014 and 2015 budgetary allocations of the National Assembly were expended.

The Economic and Financial Crimes Commission had demanded details of the budgets totalling N300bn from the National Assembly clerk, Sani Omolori.

Besides, he was requested to produce details of the contracts awarded by the assembly.

It was learnt that some principal officers of the seventh and the current eighth National Assembly would be invited in the coming months for interrogation.

Investigations showed that although the commission had received a petition from a former Chairman of the House of Representatives Committee on Appropriation, Mr. Abdulmumin Jibrin, on the alleged padding of the 2016 budget, it is extending its investigations to 2014 and 2015 fiscal years.

Jibrin, in his petition, had alleged that the Speaker of the House, Mr. Yakubu Dogara and three other principal officers padded the 2016 budget.

A top official of the EFCC said that although Jibrin’s petition bothered on the 2016 budget, funds had not been released for the projects allegedly inserted in the budget.

The source stated that the commission was focusing on 2014 and 2015, when the National Assembly got N150bn annually as its allocations.

It was learnt that for the seventh National Assembly, principal officers including the then Senate President, Senator David Mark, and his Deputy, Ike Ekweremadu, would be invited by the commission.

For the eight National Assembly, besides Dogara, the current Senate President, Dr.Bukola Saraki; Ekweremadu and the Deputy Speaker, Sulaiman Lasun, will also be quizzed.

The official stated, “You know the National Assembly has never made its budget public. Besides Jibrin’s petitions, there are others that will make investigations into the 2014 and 2015 budgets inevitable.”

For example, a group, the Anti-Corruption Unit of the National Youth Council of Nigeria, in a petition to the EFCC, alleged that N418m contracts were awarded in 2014 to firms linked to Jibrin.

The contracts included the supply of beans and millets to Kano State awarded to Eleku Construction Limited.

When contacted, the EFCC spokesman, Wilson Uwujaren, confirmed that the commission had requested for 2014 and 2015 budgets from the National Assembly.

Attempts to get Jibrin’s reactions did not succeed on Friday as he could not be reached through his telephone. He also did not reply to a text message our correspondent sent to his mobile phone.

Dogara, on his part, had recently said that the police and the EFCC could not investigate the House on the alleged padding of the 2016 budget.

When contacted on Friday, both Saraki and Ekweremadu said they were not aware of any invitation from the EFCC or intention to invite them.

The Chief Press Secretary to the Senate President, Sanni Odogu, simply said, “Saraki is a law-abiding citizen.”

He referred one of our correspondents to the Special Adviser to the Senate President (Media and Publicity), Yusuf Olaniyonu.

Olaniyonu, when contacted on the phone, said he was at a function and requested that a text message be sent to make the enquiry.

In his reply to the text message sent to him, Olaniyonu said, “No such thing. The Senate is on recess. We do not have any inkling about any such probe or invitation. In any case, remember that he became Senate President on June 9, 2015. So, if they are talking of 2014 and 2015, I don’t think that (the probe) will concern him.”

But another senior aide to Saraki, who spoke on the condition of anonymity, noted that even when the Senate President was charged to two different courts, he had been law-abiding.

“When they dragged him to the Code of Conduct Tribunal, he has been attending the proceedings. When they dragged him to a Federal High Court (over alleged forgery of Senate Standing Rules along with some principal officers of the Senate), he has been going. If there is anything else, let us wait till that time comes,” the source said.

Also, the Special Adviser to the Deputy Senate President on Media, Uche Anichukwu, said, “We are not aware of any invitation or the intention to invite Senator Ekweremadu.”

Similarly, Mark’s media aide, Paul Mumeh, said he could not react to speculations.

“We can only react to what I know of. Have you seen the letter of invitation written by the EFCC? Who signed it? Who was it sent through? We can only react to facts,” he said.

However, the Deputy Chairman, Senate Committee on Foreign Affairs, Senator Shehu Sani, told one of our correspondents that the probe is the same as meddling in the affairs of the legislature by the executive.

He noted that the security and anti-graft agencies are arms of the executive. He asked why the agencies were not paying attention to the executive and the judiciary.

Sani said, “The anti-corruption agencies are showing more interest in allegations against members of the National Assembly than against members of the executive and the judiciary. And the discriminatory responses of the anti-corruption agencies are an ill wind that will blow no one any good. It simply discredits the agencies as well as raise suspicions on their activities.

“The National Assembly is not immune to the law that is applicable to anybody in this country but the anti-corruption agencies must respect the independence of the legislature and seek an informed opinion whenever they are delving into issues that concern the legislature because they are still seen as part of the executive. They must know that any of their actions, naturally, will be interpreted as a calculated attempt to undermine the activities of the National Assembly.

The lawmaker, who is representing Kaduna-Central at the Senate, however, added that no legislature should “in any way take advantage of its esteemed position and the privileges of its esteemed position to commit crime with the expectation of immunity or impunity.”

Afenifere, CD back probe

Reacting to the moves to probe the National Assembly, the National Publicity Secretary of Afenifere, Yinka Odumakin, supported the investigation and took a swipe at the All Progressives Congress for saying that it would not punish any of its members involved in budget padding.

Odumakin said, “That is high wire politics. It is dawning on the owners of the game that if this is pursued to a logical conclusion and Dogara has to step down, there is possibility of power changing hands. So, it is practical to shave the anti-corruption stance so as not to upset the apple cart.”

Also, President of Campaign for Democracy, Bako Abdul Usman, backed the investigation of the National Assembly.

He said, “It’s unfortunate that the level of high-handedness, impunity, lack of respect for the judiciary by the APC within just one year in office, is quite alarming and negates its ideology of fighting corruption.

“A party that recorded victory based on the principles of change from corrupt practices, aids and abets illegality without sanctioning its erring members.

“Most of us will see the fight against corruption as a mere mirage or witch hunt of the opposition. If that should happen, then Mr. President’s body language of ‘I belong to everybody, I belong to nobody’ is not true for he really belongs to somebody and certainly he is for somebody and will never stop being for the powers that be in shielding corruption.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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UAE Commits $30 Billion as COP28 Climate Talks Kick Off in Dubai

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climate change - Investors King

UAE President Sheikh Mohammed bin Zayed inaugurated the COP28 United Nations climate talks in Dubai on Thursday with a groundbreaking commitment of $30 billion to bolster climate solutions.

Notable world leaders, including Saudi Crown Prince Mohammed Bin Salman, German Chancellor Olaf Scholz, and Brazil President Luiz Inacio Lula da Silva, are scheduled to address the summit.

The unprecedented scale of this year’s COP is evident with tens of thousands of delegates in attendance, making it one of the largest gatherings in COP history.

Beyond politicians and diplomats, the summit attracts campaigners, financiers, and business leaders, providing a diverse platform to address pressing climate challenges.

The urgency of the discussions is underscored by the UN’s declaration of 2023 as the hottest year on record, coupled with the ongoing rise in greenhouse gas emissions.

One early success at COP28 is the agreement among nations on details for managing a fund designed to aid vulnerable countries in coping with extreme weather events intensified by global warming.

Also, rich countries have pledged at least $260 million to initiate this facility.

UAE’s COP28 President, Sultan Al Jaber, announced the launch of ALTERRA, the largest private finance vehicle for climate change, in collaboration with BlackRock, Brookfield, and TPG.

ALTERRA aims to mobilize $250 billion by the end of the decade, with $6.5 billion allocated to climate funds for investments, particularly in the global south.

As the summit unfolds, other pivotal topics include agreements to expand renewables, commitments to phase out fossil fuels, rules for a forthcoming UN carbon market, and the first formal evaluation of global progress in combating climate change since the signing of the Paris Agreement in 2015.

The UAE’s decisive move in financing climate solutions sets a significant tone for COP28, emphasizing the imperative for collective action to address the escalating climate crisis.

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Nigeria Eyes BRICS Membership within Two Years as Foreign Minister Emphasizes Strategic Alignment

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In a strategic move towards global economic collaboration, Nigeria is aspiring to join the BRICS group of nations within the next two years.

The Minister of Foreign Affairs, Yusuf Tuggar, affirmed that Nigeria is open to aligning itself with groups that demonstrate good intentions, well-meaning goals, and clearly defined objectives.

Tuggar stated, “Nigeria has come of age to decide for itself who her partners should be and where they should be; being multiple aligned is in our best interest.”

He emphasized the need for Nigeria to be part of influential groups like BRICS and the G-20, citing criteria such as population and economy size that position Nigeria as a natural candidate.

BRICS, comprising Brazil, Russia, India, China, and South Africa, stands as a formidable bloc of emerging market powers.

In a recent move to expand its influence, BRICS invited six additional nations, including Saudi Arabia, Iran, Egypt, Argentina, Ethiopia, and the United Arab Emirates, to join the group.

Nigeria, as Africa’s largest economy, has been absent from the BRICS alliance, prompting discussions on the potential economic and political advantages the bloc could offer the country.

Analysts have noted that BRICS membership could provide Nigeria with significant leverage on the global stage.

Vice President Kashim Shettima clarified that Nigeria did not apply for BRICS membership after the bloc’s announcement of new members in August.

Shettima emphasized the principled approach of President Bola Ahmed Tinubu, highlighting a commitment to consensus building in decisions related to international partnerships.

As Nigeria eyes BRICS membership, the move is seen as a strategic step towards enhancing its global economic and diplomatic influence.

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Nigeria Spends N231.27 Billion on Arms Procurement in Four Years Amidst Rising Security Challenges

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The Federal Government of Nigeria has disbursed a total of N231.27 billion for arms and ammunition procurement over the past four years.

Despite this significant investment, security agencies argue that the allocated funds are insufficient to effectively tackle the myriad security challenges afflicting the nation.

Chief of Defence Staff, General Christopher Musa, defended the substantial budget for arms purchases during a session with the House of Representatives.

He emphasized that Nigeria’s dependence on foreign countries for military hardware, which are priced in dollars, diminishes the impact of the substantial budget when converted to the local currency.

General Musa explained, “We don’t produce what we need in Nigeria, and if you do not produce what you need, that means you are at the beck and call of the people that produce these items. All the items we procured were bought with hard currency, none in naira.”

He further illustrated the challenges faced, citing that a precision missile for drones costs $5,000, underscoring the magnitude of the expenses associated with arms procurement.

An analysis of the annual budgets for the Ministry of Defence and eight other armed forces from 2020 to 2022 reveals allocations of N11.72 billion, N10.78 billion, and N9.64 billion, respectively.

In 2023, N47.02 billion was disbursed for arms procurement, supplemented by a recently passed budget of N184.25 billion, resulting in a total of N231.27 billion.

Security expert Chidi Omeje raised concerns about the Defence Industries Corporation of Nigeria (DICON), which is tasked with manufacturing arms locally. Omeje criticized DICON’s underperformance, urging the government to revamp the agency to reduce reliance on foreign nations for arms and ammunition.

Omeje stressed, “The new government must make sure that DICON lives up to its responsibilities,” highlighting the urgency of fostering self-sufficiency in arms production to address the country’s security challenges effectively.

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