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Twitter Agog As Nigerians React To AGF’s Arrest, Fraud Allegations

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Ahmed Idris

The social media has been buzzing all day as Nigerians were in dismay, following the arrest of the Accountant-General of the Federation, Ahmed Idris by the Economic and Financial Crimes Commission (EFCC) for allegedly looting a sum of N80bn. 

While many Nigerians lauded the efforts of the EFCC, some said the looted money is far more than what the Academic Staff Union of Universities (ASUU) is requesting.

In his reaction via the micro-blogging platform, Twitter, the spokesperson of former President Goodluck Ebele Jonathan, Reno Omokri said: “Dear ASUU, If the Accountant General of the Federation can steal N80bn, you have no reason to end your strike. Ask Buhari to use the stolen N80bn to pay you and keep the change. After all, the money ASUU is asking for is not even up to N80bn!”

Some Other Twitter Reactions:

The Mouthpiece @Real_AmakaIke said: “Fight Against Corruption In Nigeria Always End With Cruise. Just Loot And Bail Yourself If At All You Are Arrested,And They Will Reward You With Another Political Position. Ahmed Idris’s 80 Billion Naira Fraud Case Has Ended With Immunity. Nigeria Is A Very Big Scam.”

Adenike Danjuma @DeNiike_Ahmed said: “Idris should be persecuted using Sharia law.”

Kwaghngu John @DoshimaJohn“According to the EFCC, the funds (stolen by the AGF Ahmed Idris) were laundered via real estate investments in Kano and Abuja” Real estate investments!!! Folks standing on this table ehn! It will take some balls to vigorously shake this table. A table of crooks & rogues.”

Ayemojubar.js @ayemojubarAlhaji Ahmed Idris, the Accountant General of the Federation stole $137,931,034. Please, how much is ASUU asking for?

Adebola @ThisIsAdemuyiwaOur problem is not religion and ethnicity. Religion and ethnicity are distractions. Alh. Ahmed Idris (Accountant General) who stole N80bn couldn’t have done it alone. He’d have been aided by Southerners from other faiths . Let nobody deceive you.

OKEKE OLIVER (Don Olive) @OKEKEOLIVER2 Ahmed Idris was appointed Accountant General of the Federation on 25th June, 2015, to succeed Jonah Ogunniyi Otunla. His predecessor was sacked by Buhari for alleged misappropriation of N2.5bn naira.

If you make ₦28.3m a year, it would take you 40 years to make ₦1 billion. The Accountant General stole N80bn in 4 years, at ₦28.3M/year it would take you 3,200 years to accumulate that much money. Ahmed Idris you are very very heartless,” another user, Jerry ayuba (@Donjerry_) said.  

Investors King recalls that Operatives of the Economic Financial Crimes Commission (EFCC), on Monday, arrested the current Accountant General of the Federation, Mr. Ahmed Idris in connection with alleged diversion of funds and money laundering activities. 

EFCC, in a statement, wrote: “The Commission’s verified intelligence showed that the AGF raked off the funds through bogus consultancies and other illegal activities using proxies, family members and close associates.

“The funds were laundered through real estate investments in Kano and Abuja.

“Mr. Idris was arrested after failing to honour invitations by the EFCC to respond to issues connected to the fraudulent acts”.

EFCC further noted that: “Its verified intelligence showed that the AGF raked off the funds through bogus consultancies and other illegal activities, using proxies, family members and close associates.

“It further alleged that the funds were laundered through real estate investments in Kano and Abuja”.

The anti-graft agency stated that Idris was arrested after failing to honour invitations to respond to issues connected to the fraudulent acts. 

Ahmed Idris was appointed as Accountant General on June 25, 2015, to succeed Jonah Ogunniyi Otunla who was sacked by Muhammadu Buhari on allegedly misappropriating security agencies’ funds.

EFCC had, on December 7, arraigned the former Accountant-General of the Federation, Mr Jonah Otunla, and eight others before the Federal High Court in Abuja on money laundering charges involving diversion of N2bn from the account of the Office of the National Security Adviser.

The defendants were to be arraigned before Justice Nnamdi Dimgba on Tuesday but the arraignment was rescheduled to December 7 due to the absence of the judge, who was said to be attending a training organised for some judges in the country.

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Economy

eTax: Lagos Internal Revenue Optimises Payment for Taxpayers

The Lagos State Internal Revenue Service (LIRS) is currently optimizing its payment procedures for utmost efficiency and taxpayers’ convenience.

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Company Income Tax (CIT) - Investors King

The Lagos State Internal Revenue Service (LIRS) is currently optimizing its payment procedures for utmost efficiency and taxpayers’ convenience.

The Executive Chairman of the Lagos State Internal Revenue Service, Mr Ayodele Subair, in a statement issued on Sunday, said the Agency, as part of its digitalization process, is discontinuing all previously used bill references effective from August 1st, 2022.

Consequently, according to the Chairman, only the Enterprise Tax Solutions (eTax), generated bill references will be acceptable for tax payments.

The eTax platform, (https://etax.lirs.net) which went live in October 2019, was launched by LIRS to engender seamless tax operations and reduce compliance costs to taxpayers. Since its launch, eTax has improved the effectiveness of tax administration in Lagos State.

Mr Subair added that the eTax was built as a one-stop shop for all tax transactions, and it is in the same spirit that the generation of bill references, required for all tax payments is now exclusive to the eTax platform.

He reiterated that by the cutoff date of August 1st, 2022, eTax would become the only authorized channel to generate bill reference for tax payments and other tax-related transactions in Lagos State.

To generate a bill reference on e-Tax, taxpayers can use the 5 easy steps below:

1. Visit https://etax.lirs.net

2. Input your Payer ID and password to log in

3. Select revenue type, and upload schedule (For PAYE & Withholding Taxes)

4. Generate a bill reference

5. Make a payment on any of the multiple channels available, using the generated bill reference.

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Economy

Gas Flaring: Nigeria Flares Gas Worth $13.3 Billion in 10 Years

Despite efforts to commercialise Nigeria’s gas and plans to start supplying gas to Europe via Morocco, an estimated $13.3 billion or N4 trillion worth of gas was flared in the last 10 years,

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gas flaring

Despite efforts to commercialise Nigeria’s gas and plans to start supplying gas to Europe via Morocco, an estimated $13.3 billion or N4 trillion worth of gas was flared in the last 10 years, the Nigerian gas flare tracker of the National Oil Spill Detection and Response Agency (NOSDRA) report showed.

Between 2012 and 2021, Nigeria flared 3.8 billion standard cubic feet (scf) both onshore and offshore according to the report.

NOSDRA estimated that Nigeria flared gas valued at $13.3 billion in the last decade. This amount when converted to Naira, using exchange rates in the last 10 years, puts the cumulative value at N4 trillion.

In the last 10 years, Nigeria cut gas flaring by 31 percent, far below the nation’s estimated target. This was largely due to the inability of President Buhari’s administration to kickstart the gas flare commercialisation programme approved by the government in 2016.

Collins Obi, an energy specialist, explained that with Western nations imposing sanctions on Russian gas consumption following the Moscow invasion of Russia, gas security is now a priority in Europe.

“Thus, Nigeria needs to position itself for the economic growth opportunity this presents,” he said.

A corporate intelligence lead at GAS360, Oreoluwa Owolabi said the amount of gas flaring going on in Nigeria highlighted its riches in gas and other energy resources but poor energy management and supply techniques.

“We need to invest in infrastructure to distribute the gas to where it would be commercially viable. This could be for export or pipelines across the country for electricity generation,” he said. “It requires a government-led effort, and the government has already taken some steps towards stopping flaring by 2030.”

He, however, added that because international communities have started accepting gas as a necessary fuel.

“This can be used to accelerate Africa’s net-zero transition and there would be more funds available for gas projects, which can partially finance our infrastructure development,” Owolabi added.

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Economy

$2 Billion Lekki Deep Sea Port Berths First Cargo

The Nigeria Port Authority (NPA) on Friday announced that the $2 billion Lekki Deep Sea Port in Lagos has docked its first ship.

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Deep Sea port - Investors King

The Nigeria Port Authority (NPA) on Friday announced that the $2 billion Lekki Deep Sea Port in Lagos has docked its first ship.

Mohammed Bello-Koko, the Managing Director of NPA, who received the marine vessel “Zhen Hua 28”, explained that the Lekki Deep Sea Port would help decongest Apapa Ports and reduce ship waiting time by about 60%.

Estimated at $2 billion, Lekki Deep Seaport was constructed by China Habour Engineering firm to ease shipment pressure and improve the efficiency of Nigeria’s maritime economy.

According to Koko, the port has the capacity to evacuate and handle more cargoes because of a series of automation integrated into it during construction.

“The successful delivery today (yesterday) at the Lekki Deep Seaport of three Super Post Panamax state-of-the art Ship to Shore (STS) Cranes and 10 Rubber Tyred Gantries (RTG) is a testament to the unflinching commitment of NPA to providing the support necessary for placing Nigeria on the global list of countries with Deep Seaports.

Koko said: “The successful delivery of these very important equipment which are critical for the Lekki Deep Seaport to commence operations before the end of the year 2022 is a demonstration of our readiness to take trade facilitation a notch higher. This has been made possible by the tremendous backing of His Excellency, President Muhammadu Buhari and the Federal Ministry of Transportation who have over the time played a key role from the initial construction stage and also granted fast tracked approval for this historic exercise.

“For us at the NPA, the coming on stream of Lekki symbolises a lot of positives. Apart from being Nigeria’s first Deep Seaport, Lekki Port will also be the first fully automated port at take-off. This provides an insight into the path we are already toeing as a management team to govern the operationalisation of not just the forthcoming Badagry, Ibom and Bonny Deep Seaports, but also of the reconstruction of the aged Tin-Can Port, where work is set to commence once we secure the necessary approvals from the Federal Ministry of Transportation and FEC, respectively.”

He stated that “automation remains the most veritable tool for assuring port efficiency, and as most of us are aware, the NPA is working assiduously under the technical guidance of the International Maritime Organization to deploy the Port Community System (PCS), which will enable us respond squarely to the dictates of global trade facilitation and optimise the opportunities of the African Continental Free Trade Area (AfCFTA) Agreement to which Nigeria is signatory.”

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