News
How We Recovered Tetfund’s N100m From College Staff — Bursar
The Bursar, Osun State College of Education, Ila-Orangun, Dr Olarewaju Oyedeji has disclosed how the institution tackled corruption, recovered stolen funds and return the school back to the path of progress.
Speaking with Vanguard, he said the Tertiary Education Trust Fund, Tetfund had blacklisted the school from its funds because of the failure of the 2013 Amphitheater project valued at about N400 million in the school.
According to the Bursar, the school was blacklisted by Tetfund over the failure of an Amphitheatre project sited in the school despite the fact that about N400 million was invested in it.
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“When I resumed office, I went through the papers and discovered that certain individuals decided to pocket the monies meant to execute the project, hence, the agency blacklisted the school from benefitting from its fund.
“We then put a mechanism in place, we invited everyone involved, and we talked to them amicably but it was not yielding results, hence, we invited the Economic and Financial Crime Commission, EFCC to intervene. Months after we started recovering monies.
“Salaries of some workers were deducted on a monthly basis, some returned wholesome amounts while others are facing prosecution before Federal High Court over the matter. On the whole, we were able to recover about N100 million.
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“We then write Tetfund that we want to invest the money into the failed project and we were given approval. After that, we went back to the agency to renew our relationship and we were put back on their good books.
“Today, several Tetfund projects have been completed within the school. The agency specifically requested that the school remove some individuals from handling their project which we did and to the glory of God, the school has been benefitting from transparency and efficient project monitoring which we introduced”.
He added that cleaning the system was not without resistance from those benefitting in the anomaly but the prompt support of the management made it possible to rid the system of corruption.
News
Bauchi Commissioner Gifts 3 Students Cash For Prompt Resumption, Ability To Read
The Bauchi state Commissioner for Education, Dr Jamila Dahiru, on Thursday, gave a cash gift of N5,000 each to three Senior Secondary II students of Government Science Secondary School, Misau for their determination to succeed in Education.
Two of the students, Adamu Adamu, Mustapha and Haruna impressed the commissioner for their presence in school in the first day of resumption while Abdullahi Musa marvelled her for his reading ability and comprehension.
According to the commissioner, the gesture was to appreciate their determination to learn as well and motivate other students to emulate them.
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While paying a courtesy visit to the Emir of Misau, Alh. Ahmed Sulaiman, the commissioner disclosed that the Bauchi State government was working with stakeholders from the Misau Emirate to fine-tune modalities of temporarily accommodating the students of Federal Science Technical College, Misau at its Science Secondary School Misau.
She said the college made the request in a letter to the ministry stating that the facility given to them could no longer accommodate their students population, hence the resolve to convene the stakeholders meeting to fine-tune ways of sharing the facility for the betterment of the state.
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She disclosed that government science secondary school Misau, one of the best in the state in terms of befitting facilities has the capacity to accommodate up to five thousand students, but currently houses about three hundred students.
She appreciated the Emir for his continued support to programmes and policies of the government with more emphasis on the education sector.
Speaking on behalf of the Emir and other stakeholders, a retired Director with the Ministry, Muhammad Musa, expressed gratitude to the Commissioner for the honour and promised to assemble critical stakeholders from the emirate so as to arrive at an acceptable decision for the benefit of all and sundry.
News
NDIC Obtains Order To Wind Down 96 Microfinance, Mortgage Banks
The Nigeria Deposit Insurance Corporation has said that it has obtained Winding up Orders for 96 out of 183 microfinance and primary mortgage banks whose licenses were revoked by the Central Bank of Nigeria in May 2023.
The Managing Director, NDIC, Bello Hassa, revealed this at a sensitisation seminar for Judges of the Federal High Court in Lagos on Thursday organised by the NDIC, to enlighten the judiciary on the intricacies of the banking industry.
Hassan said, “As at date, the Corporation had obtained Winding up Orders for 96 out of 183 Micro Finance and Primary Mortgage Banks whose licenses were revoked by the CBN in May 2023, in less than one Year of revocation.”
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He added that the NDIC was committed to fulfilling its mandate of protecting depositors through bank supervision, failure resolution and liquidation so as to boost confidence in the financial system.
Speaking on the role that the judiciary plays in the fulfillment of the mandate, Hassan said, “We recognise the judiciary as one of our critical stakeholders. With this, when cases are brought before them, they can receive accelerated hearing and proclamation of Justice.”
Citing some of the achievements from previous editions of the seminar, Hassan said that instances where liquidation-related litigations experienced delays were reduced.
News
JUST IN: 36 Speakers Back State Police
Speakers of the 36 Houses of Assembly in Nigeria on Thursday expressed support for the National Assembly’s ongoing efforts to alter the 1999 constitution to create state policing in the country.
The Speakers made their resolution known at the end of their meeting in Abuja.
The Senate and House of Representatives are currently working to amend various constitutional provisions, including those regarding state police, financial autonomy for local government, fiscal federalism, and mayoral status for the FCT.
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