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Ikoyi Billions: House C’ttee Issues 24-hour Ultimatum to NIA DG



Global debt
  • Ikoyi Billions: House C’ttee Issues 24-hour Ultimatum to NIA DG

The House of Representatives Committee on National Security and Intelligence on Tuesday handed down a 24-hour ultimatum to the suspended Director- General of the National Intelligence Agency (NIA), Mr. Ayo Oke, to appear before it and shed more light on the controversial N13 billion recently discovered in an Osborne apartment in Ikoyi, Lagos.

Oke, who ought to appear before the committee yesterday alongside other invitees, allegedly shunned the investigative hearing which was ordered by a resolution of the House.

However, the committee, chaired by Hon. Aminu Sani Jaji (APC, Zamfara), further summoned the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, National Security Adviser (NSA), Major-General Babagana Monguno (rtd), and acting Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.

Jaji claimed the committee had received useful information and petitions from members of the public on the local and foreign currencies – $43.4 million, £27,800 and N23.2 million discovered.

He expressed displeasure over the failure of all invited stakeholders to appear before the committee on Tuesday.

Jaji added that the investigative hearing was in line with section 88 and 89 of the 1999 Constitution which empowered the National Assembly to expose corruption, hence urged all the agencies and appointed officials to respect constituted authorities.

According to him, the suspended NIA boss is to appear on May 10, 2017, by 12p.m; while CBN Governor will be expected at 2p.m. as well as Magu by 3p.m.

NSA is to appear by 4p.m.

He said: “This is the law of the land and we have to respect the constituted Authorities which the National Assembly is one of them. And it is disrespected for any agency that this government put in place in campaigning against corruption and many Nigerians are very much aware of this saga, the $43 million.”

The chairman further expressed concern that no agency of government had so far laid claim to the recovered funds legally or otherwise.

He said the committee would soon compile its report and present it before the House in line with its resolution.

A member of the committee, Hon. Nkiruka Onyeojeocha (PDP, Abia), who read riot act to the affected agencies noted that the committee had only one week to submit its report to the House.

She said the lawmakers would not hesitate to make relevant recommendations in its report should the invitees fail to take advantage of the investigative hearing to clear their names.

The committee warned it would not allow any of the invited stakeholders to delay its assignment.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


Zabarmari Massacre: Buhari to Provide More Resources for the Nigerian Military



President Muhammadu Buhari

President Muhammadu Buhari has promised to provide more resources to the military in the aftermath of the Zabarmari massacre.

On Saturday, Boko Haram killed 43 people with around 70 people still missing in Zabarmari, a village in Borno State.

Reacting to the massacre, Buhari, through his official Twitter handle @MBuhari said “Nothing is more important than ensuring the security of lives and property of Nigerians. Everything is secondary when security is at stake. I will ensure that more resources are made available to the military and other security agencies to prosecute the war against terrorism.

“As we mourn all the lives lost in Zabarmari, the Armed Forces have been given the marching order to take the fight to the insurgents, not on a one-off, but on a continuous basis, until we root out the terrorists.

“We will intensify our cooperation with neighbouring countries on bilateral and multilateral levels, to ensure that there is no hiding place for the terrorists.

“As I noted earlier, the massacre by Boko Haram in Zabarmari is nothing short of senseless, barbaric, gruesome and cowardly. It reinforces our resolve to root out all forms of insurgency and insecurity not just in Borno but everywhere across Nigeria.”

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Boko Haram Kills Rice Farmers in Borno State, Northeast Nigeria



Rice farmers were killed on Saturday morning in the Northeast Nigeria by suspected Islamist militants, Boko Haram, according to a Reuters Report.

The report also noted that 30 of the people killed were beheaded while over a dozen others were still missing.

However, resident of the Zambarmari Village where the attacks took place said a total of 70 people were feared dead.

Another resident and Amnesty International were quoted as saying at least 10 women were among those missing.

In another statement by Edward Kallon, the United Nations’ humanitarian coordinator in Nigeria, it was armed men on motorcycles that led the brutal attack on civilians harvesting their fields.

Armed men on motorcycles led a brutal attack on civilian men and women who were harvesting their fields,” Edward Kallon stated.

“At least 110 civilians were ruthlessly killed and many others were wounded in this attack,” he added, noting that several women are believed to have been kidnapped.

“The incident is the most violent direct attack against innocent civilians this year. I call for the perpetrators of this heinous and senseless act to be brought to justice,” Kallon said.

On Sunday, Governor Babaganan Umara Zulum of Borno State, who was at the burial told journalists that at least 70 farmers were killed on Saturday.

The Governor, therefore, called on the Federal Government to recruit more Civilian Joint Task Force members, Soldiers and civil defence fighters to protect farmers in the region.

He added that people are facing desperate choices.

In one side, they stay at home they may be killed by hunger and starvation, on the other, they go out to their farmlands and risk getting killed by the insurgents,” he said.

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In The Fight Against Corruption, No Individual is Bigger Than The State – Buhari



Muhammadu Buhari

In response to the suspended acting EFCC Chairman, Ibrahim Magu, President Muhammed Buhari, lamented that the anti-corruption war becomes endangered “when persons entrusted with the responsibility of that magnitude become suspects themselves.”

Buhari, whose vision is to put an end to corruption in Nigeria, believed that every aspect of the nation’s life is enshrined in corruption and it’s of major concern when leaders of institutions saddled with the mandate to fight the menace are found in the waves of the corruption they claimed to be fighting.

This act is a great abomination not only because it strikes at the root but it also trivialises and undermines the anti-corruption crusade itself, the President explained.

He further said that in a bid to put an end to this great abomination, he had set up Ayo Salami Panel to unravel the mystery behind the mystique of Magu’s alleged involvement in corruption that his administration is fighting.

Buhari said that his administration is ready and willing to go all out in the fight against corruption, and no one is too big nor above the law to become a victim of anti-graft’s sledgehammer.

The president said, “However, the stark reality of widespread corruption becomes poignant when allegations of corruption touch on the leadership of an institution set up by law to coordinate and enforce all economic and financial crimes.

“It is an abomination that strikes at the root and undermines the government’s anti-corruption programme.

“It was in response to the serious allegations against the Economic and Financial Crimes Commission that I set up a panel headed by the Honourable Justice Isa Ayo Salami, retired President of the Court of Appeal, via an Instrument dated 3rd July 2020 pursuant to the Tribunals of Inquiry Act (Cap T21, LFN, 2004).

“We recognise that there are more grounds to cover in the war against corruption, and we are prepared to go out to possess those lands by cutting off any stream that nourishes the seed of corruption and supports its growth.

“Let it be known that in the fight against corruption, no one is too big to tackle, as no individual is bigger than the Nigerian State!”

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