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Amid Recession, Reps Take Delivery of N3.6bn Exotic Cars

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SPEAKER of the House of Representatives, Yakubu Dogara
  • Amid Recession, Reps Take Delivery of N3.6bn Exotic Cars

The delivery of 360 exotic cars to members of the House of Representatives has begun amid the economic downturn in the country.

Investigations revealed on Sunday that 28 units of the Peugeot 508 series had already been delivered to lawmakers in Abuja.

The 28 were among the first batch of 50 cars supplied by the Kaduna-based Peugeot Automobile Nigeria Limited.

The House allocated a princely N3.6bn for the cars in the 2016 budget at a unit price of N10m.

A National Assembly top aide said on Sunday that the arrangement with Peugeot was that the company would supply the vehicles in batches because of the huge number of members involved.

“Fifty cars will be supplied in the first batch; 28 have already been delivered. That was last week.

“Twenty-two more in the first batch are expected to be delivered this week,” the source stated.

Findings indicated that the luxury cars would arrive in Abuja in batches till January, 2017 when all 360 members would have picked a unit.

About 223 of the members of the House are new, having come to the National Assembly for the first time in 2015.

But all 360 members will still benefit from the luxury cars, officially known as ‘utility’ or ‘committee’ vehicles.

Investigations showed that owing to paucity of funds, the lawmakers agreed with Peugeot to spread the payment of the N3.6bn across 24 months or “two years’ budget.”

According to report, the original plan was to start the delivery of the cars last June, but the delay in the passage of the 2016 budget stalled it.

“The House was not sure of the provisions in the budget owing to the general drop in the revenue available to the Federal Government this year.

“So, they delayed it till the budget was passed before they continued with the procurement processing.”

It was learnt that a lengthy disagreement among lawmakers preceded the choice of the Peugeot 508 series.

Investigations revealed that while the majority of the new members preferred the 2016 Toyota Camry, others argued in favour of Peugeot 508 on the grounds of patronising ‘Made-in-Nigeria products’.

“Eventually, the argument was sustained that Peugeot should be the choice to encourage local automotive industry; though it would also appear that there was a comparative cost analysis,” another legislative source added.

The Chairman, House Committee on Media and Public Affairs, Mr. Abdulrazak Namdas, confirmed that members had started taking delivery of the vehicles.

Speaking with our correspondent on Sunday, Namdas stated that female lawmakers were the first in line to pick up their units, while the males would take their turn in subsequent batches.

Asked why the House would splash money on 360 exotic cars at a time the country was in recession, Namdas played down any reference to the cars as being “luxury.”

He said, “This issue of cars is long overdue. They are not for luxury but for committee and oversight duties.

“The 8th Assembly is nearing two years, yet members have no cars to carry out their duties.

“Ministers and other officials in the executive have long bought vehicles for official duties.

“At the state level, members of House of Assembly have cars to carry out basic functions.

“I think it is only fair that members of the National Assembly will have utility vehicles for their assignments.”

Namdas also said that the choice of Peugeot 508 was to “look inward such that Peugeot, which is locally-assembled, will benefit and grow.”

On paper, the cars are the property of the National Assembly, but the tradition over time is that lawmakers take them along with them on completion of their tenure after paying a fraction of the unit cost.

It was learnt that the management of the National Assembly would evaluate the cars after four years and deduct an agreed sum from the severance package of members.

Besides the utility vehicles, members also get a repayable loan to buy personal cars.

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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Yahaya Bello

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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NIMC enrolment

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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Israel Gaza

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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