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99.9% Of Nigerians Are Corrupt Free – Okonjo-Iweala
Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala talks to Christiane Amanpour on CNN last night during an interview, when asked about hw corruption has eaten us deep in Nigeria, she responded emphatically that, Nigeria has about 170 million population and 99.9% of the population are corruption free and they are just hardworking pple who go about their businesses everyday to earn a living and that they just need a trusted govt to manage their resources
AMANPOUR: You are obviously a passionate defender of your country. You are a person who calls for transparency and honesty and best practices.
There is a huge problem with corruption in your country. The president promised to address this stuff. And the latest is that an ally of his, a former governor who
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How Judge Tricked EFCC To Free $203 Million Pension Fund Thief
Justice Abubakar Talba, the Federal High Court, Abuja, judge who sentenced John Yusufu, former director in the Police Pension Office, to two years in prison with an option of N250,000 fine on each of the three counts, breached an agreement reached by parties in the case.
In the controversial ruling delivered on January 28, Mr. Talba sentenced Yusufu, who pleaded guilty to three of 20 counts charges bordering on embezzlement of over N23 billion, to two years in prison but gave the accused person an option of fine. The ruling drew anger from many Nigerians, including legal experts, who believe that granting an option of fine for such a monumental fraud would encourage corruption by public officers.
But Justice Talba’s judgment equally shocked parties in the case, particularly the prosecution
FCT Budget: Patience Jonathan Gets N4 Billion For Mission Building
In the FCT 2013 budget, the Federal Capital Territory Administration plan to spend N4 billion for the construction of the First Lady’s Mission Building.
Senators described not only as scandalous but an endorsement of illegality, while Vice President Namadi Sambo’s Guest House in Asokoro, Abuja will be renovated with N150 million by the administration of Senator Bala Mohammed.
Also, N7.5 billion is budgeted for the construction of two city gates. Out of the N5.7 billion earmarked for procurement of equipment and other essentials, N2.9 billion will be spent to sweep and provide sanitation for the city.
Senators fault budget, say it’s scandalous
Senators in their contributions to the budget however faulted some of the provisions, describing the proposed vote of N4 billion in the FCT budget
Police Pension Scam: Reps Ask EFCC, AGF To Appeal Judgment
Angry at public condemnation of the judgment on Mr John Yakubu Yusuf and others undergoing trial for the over N38 billion Police Pension scam at the FCT High Court, Abuja, the House of Representatives, Wednesday, asked the Economic and Financial Crimes Commission, EFCC, and Attorney General of the Federation, AGF, to review the ruling.
The House declared that the monumental fraud in the Police Pension Fund had resulted in untold hardship for police pensioners who had their pensions unpaid for many months.
Members of the House in adopting a motion on the urgent need to revisit the case brought by House Minority Whip, Samson Osagie, and nine others, also called on the National Assembly to review provisions of the penal and criminal codes to provide stricter punishment for such matters.
“The
Police Pension Scam: Atiku Advocates Tough Anti-Corruption Laws
Former vice president Atiku Abubakar has reacted to the mild judgement of an Abuja High Court in the case of John Yakubu Yusuf, a former Director of Police Pension Office.
Yusuf, who on Monday was found guilty of stealing over N20 billion from the fund, was sentenced to six years imprisonment with an option of N750, 000 fine by presiding judge Abubakar Talba.
The verdict has since sparked nationwide condemnation.
Speaking via his Facebook page on Wednesday, Atiku urged the country’s Legislature to come up with tougher sanctions for graft and corrupt practices, saying only such would successfully tackle the high rate of corruption in the country.
His statement:
“There is a need for the Federal Government and National Assembly to make the anti-corruption law stiffer to serve the
Senate Orders Police To Submit 5-year Financial Records
The Senate’s Public Accounts Committee has directed the Nigerian Police authorities to submit to it the records of appropriation and implementation of the budgets on the Nigerian Police College in the last five years.
Chairman of the committee, Senator Ahmed Lawan, told our correspondent in a telephone interview on Thursday, that the committee would commence its investigation by first examining the contents of the documents on the budgetary allocations to the college before taking further steps.
He said, “We are asking the police authorities to submit the documents first. We are going back in five years, because we know that the rot in the police college did not start last year; it has been there for a very long time.
“We have refrained from inviting anybody because we don’t
Yar’Adua, Jonathan squandered N10.6trn
Former Vice President (Africa) at the World Bank and Minister under former President Olusegun Obasanjo’s administration, Dr. Oby Ezekwesili, yesterday said that both the late President Umaru Yar’Adua and his successor, Goodluck Jonathan’s regimes ‘’squandered’’ $67 billion (about N11 trillion) oil money left in two separate accounts by Obasanjo.
Ezekwesili said that the two administrations squandered $45 billion (N7.065 trillion) left in the Foreign Reserve and another $22 billion (about N3.454 trillion) left in the Excess Crude Account, bringing the total amount of money squandered to about $67 billion or N10.619 trillion.
Ezekwesili spoke while delivering the Convocation Lecture of the University of Nigeria, Nsukka, UNN. She noted that Nigerians had lost dignity because
CBN Withdraws 238 Forex Dealers Licenses’
The Central Bank has thumped its regulatory hammer down on 238 Bureau de Change (BDC) operators operating in the country.
According to a circular released Tuesday by the Trade and Exchange Department, of the Central Bank of Nigeria (CBN), the CBN withdrew the licenses of the BDCs effective Monday.
The withdrawal is a positive step by the apex agency in order to forestall the herculean activities of money launderers in the country. In 2012 alone, billions of dollars were ferried across the ports of the country to exotic locations like Dubai, Egypt, France, Miami, Austria and more.
According to the CBN governor, $11 billion was smuggled through airports last year. By checkmating the licenses of the Burea de Change operators, the CBN hopes to stop political and private sector partnership
Ngozi Okonjo Iweala Kidnapping: Kidnappers demand $1Billion dollars
The kidnappers of the mother of Finance Minster,Ngozi Okonjo Iweala who was kidnapped in Ugwashi Ukwu in Delta State yesterday have demanded a whopping $1b (One billion dollars) for the release of the 82 years woman.
This demand according to source was relayed to the family of the woman. Its yet to be seen how the family will react to this development.
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Federal Ministry of Finance News Release, October 25, 2012
CAPITAL BUDGET: FINANCE MINISTRY RELEASES N300 BILLION FOR 4TH QUARTER
*GAINS OF 2012 BUDGET IMPLEMENTATION INCLUDE IMPROVED POWER SUPPLY, NEW RAIL CORRIDORS, NEW RICE MILLS
To ensure that the momentum on capital budget implementation is maintained as the year comes to a close, the Federal Ministry of Finance has released the sum of N300 billion of the capital budget for the fourth quarter of 2012.
This brings the total capital release for 2012 to N1.01 trillion out of a capital budget of N1.3 trillion for the year.
The amount released so far represents 75% of the capital budget for 2012.
The impact of budget implementation can be seen in various sectors of the economy. A few examples:
POWER SUPPLY
- Power supply in many parts of the country has improved to a consistent level of 15 hours per
Nigeria is Not Broke – Ngozi Okonjo Iweala
The Finance Minister “Ngozi Okonjo Iweala” wrote on her facebook page earlier today to debunk the rumor making rounds that Nigeria is broke and cannot pay NYSC allowance. She wrote;
Dear brothers and sisters,
I thought you would like to read the news report below. Nigeria is not broke. We are only trying to exercise stricter controls on our resources, so that what belongs to all are not milked dry by few.
Best.
NOI
She later linked to the page “Why ministries, departments can’t access budget 2012 fund” to get further explanations.
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Cash-Less Lagos: Can We Survive It?…All you should know about this new policy
“We won’t be allowed to carry cash again!!, you will be arrested if you are found with cash!!, You are a criminal if you carry cash!!, You will be shot if you carry cash!!..”
These are some of the rumors that have been circulating around town with regards to the “New Cash-less Policy” that is being introduced by the government, and liveofofo.com in collaboration with www.cashlesslagos.org has decided to help state some of the facts, and end the myths circulating around town.
What is Cash-Less Lagos?
It is a new policy initiative by the CBN to “reduce” not totally eliminate the high usage of cash (i.e notes) in circulation in the economy. The CBN through this policy is trying to encourage people to use electronic transactions more. It is going to be implemented first in Lagos,
Nigeria To Import Fuel From Niger Republic
Nigeria may soon start importing fuel from the Republic of Niger as the latter plans to evacuate its excess petroleum products.
Niger Republic’s minister of petroleum, Mr. Foumakoye Gado, is in the country to sign the African Petroleum Producers’ Association (APPA) Statute, which will make Niger become a bonafide member of the association.
Gado told journalists during the signing ceremony yesterday in Abuja that Niger’s present refining capacity is 20,000 barrels of oil per day, out of which the country can only consume 7,000 barrels, an equivalent of 1.113million litres of fuel, while the excess of 13,000 barrels, an equivalent of 2.067million liters of fuel would be exported to Nigeria.
The minister who spoke through an interpreter said, “We currently refine 20,000bpd and we consume
A Nigerian (Salami Ibrahim) Returns £25,000 and €5,000 Found Inside an Aircraft.
Salami Ibrahim, a staff of the Nigerian Aviation Handling Company (NAHCO), who found and returned a wallet containing foreign currency totalling N7.3 million while cleaning an aeroplane has been rewarded for his honesty.
Ibrahim, a cabin cleaning team leader, found the wallet containing £25,000 and €5,000 inside an aircraft at the Murtala Muhammed International Airport, (MMIA) Lagos, during a routine cleaning exercise.
Impressed with his show of honesty, the management of Turkish Airlines has rewarded Ibrahim with an all-expenses paid return trip to Istanbul, Turkey; despite the fact that theplane in question is not one of theirs.
Managing Director of the airline in Nigeria, Ali Bulut, said: “This is an act that should be rewarded and encouraged because it is good for the aviation industry