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Reps Probe Budget Office Over Alleged Double Payment of N46.5b

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  • Reps Probe Budget Office Over Alleged Double Payment of N46.5b

The House of Representatives Committee on Public Accounts has resumed investigations into an alleged double payment of N46.5 billion for the Airport Road and Kubwa Expressway contracts in Abuja by the Budget Office of the Federation.

At the sitting of the committee in Abuja at the weekend, where the Office of the Auditor General of the Federation (OAGF) read out 10 queries against the Budget Office for 2010, 2011 and 2013, the lawmakers’ panel presided over by its deputy chairman, Ibrahim Baba queried the office for its inability to clarify the alleged duplication of the payment for the contracts six years after the accusation was made.

The Budget Office is supposed to set the tone for transparency in financial matters in government. But since this transparency is lacking, it is not surprising that successive governments in the country have been dogged by the mismanagement of public funds.

According to the committee’s records, officials of the Budget Office had appeared before the lawmakers on the matter on June 1, 2016, and were asked to furnish the committee with their defence in writing and supporting documents. The lawmakers lamented that the matter had not been satisfactorily dealt with.

Baba requested that the ministries and agencies of government, as well as consultants involved in the contract be summoned to appear before the committee within the next two weeks to explain their roles in the alleged duplication of the payment.

The Budget Office was, on its part, expected to turn in all bank statements and documents relating to the contract in its next appearance.

In his defence, the Director-General, Budget Office, Ben Akabueze, had informed the committee that he was new in the agency, but had made several unsuccessful efforts to meet with the relevant ministries, agencies and consultants of the contract when he was confronted with the allegation upon his resumption of office last year.

He said he had written to invite them for a meeting on July 2 last year, barely a month after he resumed, but only a few of them honoured the invitation. He pleaded with the committee to compel them to explain their various roles in the contracts.

“Mr. chairman, we appeared last before you on June 1 last year when we were invited to explain this issue of N46, 500,000,000 said to have been paid double for the rehabilitation and expansion of Airport Road and Kubwa Expressway in Abuja.

“As at the time of the contract and payments for it, I had not been appointed as DG. I resumed on 9th June last year.

“But I am aware that when the matter came up, the Budget Office appeared before you last year on June 1, 2016 and had provided all documents relating to the contract to you as required.

“Upon resumption, I planned a meeting with all ministries, agencies and consultants that have something to do with the contract on 2nd July, 2016, but some of them refused to attend the meeting, and so the meeting didn’t hold.

“As I speak, none of them is with me here to state their positions. Therefore, I will beg that you reschedule this investigative hearing and invite them to appear before you to respond to some of the issues relating to this contract,” Akabueze said.

He also attempted to defend another query by the auditor general’s office involving 10 transactions of contingency fund amounting to N3.971 billion used to finance unbudgeted expenditures that were not contingent.

But the committee was not satisfied with his defence and sought detailed explanations from the office as well as beneficiaries of the fund.

The committee also expressed worry, based on the query by the auditor-general’s office, that the budget office recorded expenses of N1.136 billion used for Agricultural Development International Fund for 2010 and 2012 as N2. 272 billion in its register.

The lawmakers said the action negated the principles of probity and accountability, and advised that the office resubmit to the committee the original AIE, vote book for 2010 and the original register where the entry was made, for confirmation.

The committee also sought to have the evidence of remittance to the fund.

 

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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