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Finally, Senate Sets Date to Screen Magu

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  • Finally, Senate Sets Date to Screen Magu

The Senate is finally set to screen the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, for confirmation as the substantive head of the anti-graft agency.

Senate President, Bukola Saraki, yesterday announced that the screening would hold today by 11.30a.m. during plenary.

Previous attempt to screen and confirm Magu had suffered several setbacks in the upper legislative chamber, even though he has been functioning in an acting capacity since 2015.

The letter seeking his confirmation was first transmitted to the Senate by Vice-President Yemi Osinbajo in his capacity as acting president on June 17, 2016.

It was however, not read on the floor of the Senate until July 14, 2016 by the Senate President.

After dilly-dallying for several months, the Senate, in December 2016, declined to confirm him on the basis of a damning security report from the Department of State Services (DSS), which indicted Magu of corruption and accused him of sabotage and leading double lives.

The development caused the Senate to request that Buhari should forward the name of a fresh nominee as chairman of the EFCC.

The report had noted that Magu lives a flamboyant life, above his means, living in an apartment paid for by a ‘questionable businessman’, Commodore Umar Mohammed, who also furnished the apartment at the cost of N43 million.

He was also accused of proceeding on official and private trips in a private carrier, Easy Jet, owned by Mohammed, and on one of such trips, had flown to Maiduguri with Mohammed and the Managing Director of a bank who was being investigated by the EFCC over complicity in funds allegedly lodged with the bank by the former Minister of Petroleum, Mrs. Diezani Alison-Madueke.

The DSS also accused Magu of cultivating the habit of flying first class against the directive of the president, adding that he had once flown first class to Saudi Arabia to perform the lesser hajj at the cost of N2.9 million.

The report also alleged that the DSS discovered a number of official documents which Magu had made available to Mohammed when it searched the latter’s house.

One of such letters was said to have been forged from the Office of the Vice-President containing the report of a fictitious investigation by Vice-President Yemi Osinbajo to the president requesting for approval to commence a probe into a matter claimed to have involved the Minister of State for Petroleum, Dr. Ibe Kachikwu and his brother, Dumebi.

Following the Senate’s rejection of his nomination and indictment, the president directed the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), to investigate the allegations against Magu.

President Muhammadu Buhari in a letter dated January 22, 2017, to the Senate, had however re-nominated Magu, seeking his confirmation, as he had been cleared of wrongdoing.

Earlier at the plenary, the Senate President read the letter written by President Buhari, to formally notify of his resumption.

“In compliance with Section 145 of the 1999 Constitution (as amended), I write to intimate the Senate that I have resumed my functions as the President of the Federal Republic of Nigeria with effect from Monday 13th March, 2017, after my vacation. Please accept the assurances of my highest consideration,” it read.

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

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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