Connect with us

Government

Maina Leaks 2015 Letter to Saraki, Says N3tn Pension Stolen in 97 Agencies

Published

on

Abdurasheed Maina
  • Maina Leaks 2015 Letter to Saraki, Says N3tn Pension Stolen in 97 Agencies

Embattled former Chairman of the Pension Reform Task Team, Abdulrasheed Maina, has leaked his letter to Senate President, Abubakar Bukola Saraki, alleging that over N3 trillion pension fund was stolen in 97 pension offices.

Maina, in the letter dated June 19, 2015, which he wrote shortly after his return to the country, was seeking a review of his case and a probe of the various actions taken against him by people bent on intimidating him to submission.

He accused the 7th Senate of aiding and abetting those he described as pension thieves in the country.

The letter was titled: Pension Reform Task Team: Appeal for Review of Investigation by Senate Joint Committee on Establishment and Public Service and States and Local Government Administration 2011 – 2013.

He said in the letter, which was obtained in Kaduna yesterday that the task team, which took off effectively in January 2011, saved the country N1.6 trillion from pension thieves.

“We used financial intelligence skills to achieve ground-breaking achievements in our assignment. We recovered and saved cash and properties worth over N1.6 trillion,” he added.

Maina noted that the team’s efforts led to the arrest of 46 persons and firms involved in looting of pension funds, which were handed over to the Economic and Financial Crimes Commission (EFCC), whose trial was still ongoing.

The over N3 trillion said to be hidden in the 97 government agencies, waiting to be retrieved was as at 2015. The letter also indicated that the pension boss resurfaced in the country shortly after the inauguration of President Muhammadu Buhari on May 29, 2015.

“We, members of Pension Reform Task Team (PRTT) wish to use this medium to apologise for our late response to reaching back to you. We had to put the issues together and source for appurtenant materials. We appreciate your understanding,” the letter reads in part.

As a refresher, the PRTT was inaugurated on June 10, 2010 by the immediate past administration of former President Goodluck Ebele Jonathan, with a clear mandate to restructure the Head of Service Pension Office, Police Pension Office, among others.

“We did our utmost with precision and national interests as our guiding principles. The PRTT took off effectively by January 2011. We used financial intelligence skills to achieve our assignment.

“We recovered and saved cash and properties worth over N1.6 trillion. Our efforts led to the arrest and prosecution of 46 persons/firms involved in looting of pension funds, which we handed to the EFCC. The trials are still ongoing.

“As it is, there is a leakage of N256 billion monthly from the current IPPIS which needs to be blocked urgently. We are also aware of some government’s hidden accounts, which needed to be mopped up. We can be used to engage any department of government in sanitising the financial workflow to avoid loose ends that remain susceptible to leakages,” the letter stated.

It also said that based on the revelations of monumental fraud and outright stealing of pension funds, which was brought to public attention by the PRTT, the 7th National Assembly by a resolution of November 2, 2011 mandated its Committee on Establishment and Public Service, State and Local Government Administration, to conduct a comprehensive investigation into the management and administration of Pension funds in Nigeria.

“There was general expectation that the various dimensions of irregularities associated with the management of Pension funds in Nigeria would come to an end as a consequence of the investigations being conducted by the Senate Joint Committee,” it added.

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.

Continue Reading
Comments

Government

Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

Published

on

Netanyahu

Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

Continue Reading

Government

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

Published

on

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.

Continue Reading

Government

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

Published

on

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.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending