Connect with us

News

Senate Summons CBN Officials Over N30tn Loans

Published

on

The Senate has said it will quiz some officials of the Central Bank of Nigeria on how the N30tn Ways and Means loan was obtained and spent by the Federal Government during the Muhammadu Buhari-led administration.

The Chairman of the Senate Ad-hoc Committee Senator Isah Jibrin, who made the disclosure in an exclusive interview with The PUNCH, also revealed that the panel would commence the probe this week.

The Senate had on Tuesday appointed Jibrin as the chairman of the panel to probe the N30tn Ways and Means loan released by the then CBN Governor, Godwin Emefiele, to the Buhari administration.

Advertisement

The ‘Ways and Means’ is an overdraft taken directly from the central bank to fund budget deficits or address national contingency needs. This usually follows the approval of the executive arm of government and is meant to be ratified by the parliament.

READ ALSO: Dangote Names 120km Refinery Road After Wigwe

The Senate had last week Tuesday resolved to probe the N30tn facility, stating that the alleged reckless spending of the overdraft collected from the CBN largely accounted for the food and security crises currently facing the country.

The red chamber then resolved to set up an Ad -hoc committee to investigate how the fund was spent, explaining that the details of how it was spent were deliberately not made available to the National Assembly.

Advertisement

However, the chairman of the panel, also known as Echocho, said the panel had started some background checks based on some documents in its possession.

In an exclusive interview with The PUNCH on Thursday, he said, “We are looking at next week for the investigation at the committee level, but as chairman, I am not waiting for that. I have some documents; I want to write to CBN to provide me with information on some areas.

READ ALSO: 2,000 Register For Free Hearing Aids To Mark Obasanjo’s Birthday

“Because Ways and means cover very large latitude, so based on the information that I have now, I am going to write to seek clarifications on certain issues thereafter the committee will meet.”

Advertisement

He added that the Ways and Means loan also came up in December 2022 towards the end of the ninth Senate.

Senator added, “I have some documents and I want to leverage on those documents by going through them to ask questions from the CBN to seek further clarifications. Thereafter, we will now invite CBN officials who were engaged under Emefiele, although he is no longer there.

“They were a part of it, they have to come and explain to us. The terms of reference are very simple.

“These monies were given out. We want to know the agencies that benefited from those monies.

Advertisement

READ ALSO:Ghanaian Bishop Laments Preference For Nigerian Pastors

“We also want to know the individual Nigerians who benefited. We want to know the terms and conditions. The CBN is not Father Christmas. They are loans; we want to know the beneficiaries of those loans.

“What are the terms and conditions of those loans? What are the collaterals collected to fall back on when there is a default? Have they been repaid? What are the repayment schedules? In case of default do we have collateral? So those are the issues, we are not witch-hunting anybody.”

He further explained, “This country belongs to all of us, we want to know what actually transpired because we are where we are today because of those reckless exercises.

Advertisement

“I will call it reckless because when you are taking a decision as an economist because I want to believe, we have economists there when you take a particular decision, you should be able to ascertain the possible impact of that decision on the larger community.

“You either withdraw or you modify, that is why I am happy that the Monetary Policy Committee has been composed. You know the composition of the MPC is crucial because that is where policy measures are taken. You need to look at it, if this variable is this, and the state of the economy is XYZ, what do you do?

“How do you tinker with some of those variables so that the larger society will improve? That is why we want to unravel all that happened not to witch-hunt anybody but to know the extent to which Ways and means advances have been performed and then other decisions can be taken thereafter.”

It is unclear if the committee will also eventually summon Emefiele as the probe deepens.

Advertisement

News

Edo Man Petitions EFCC Over Fraudulent Withdrawal Of ₦4 Million In His Access Bank Account

Published

on

The Economic and Financial Crimes Commission (EFCC) has received a formal petition from Osehobo Onojie Bernard, a resident of Ebo Quarters, Benin City, alleging fraudulent activities involving his bank account No. 1838861087 with Access Bank.

In the petition dated June 24, 2024, Osehobo highlighted the careless handling and fraudulent transactions associated with his account by the bank authorities.

He told the Commission that an unauthorized withdrawal of ₦4,201,000 (four million two hundred and one thousand naira) was made from his account on May 16, 17, and 18, 2024, facilitated by officials of Access Bank.

Advertisement

READ ALSO: Gunmen Abduct 2 Chinese, Kill 5 Nigerians In Lokoja

He explained that he opened the account in question in November 2023 when two identified Access Bank staff from their 39 Akpakpava Road, Benin City branch approached him to set up a High Interest Deposit Account (HIDA) with funds from his existing Access Bank account No. 0040251257, which he held at the Airport Road Benin City branch.

He said that subsequently, he was assigned a new HIDA account number, 1838861087.

Osehobo added that the Access Bank personnel opened the HIDA account number 1838861087 using the existing information from his other bank account, No. 0040251257, which he operated manually without an ATM card or mobile banking.

Advertisement

READ ALSO: Lagos Taskforce Uuncovers 2 Illegal Petroleum Storage Facilities

He specified that withdrawals could only be made with a teller by verifying his signature, BVN, and NIN before approving transactions, especially for large sums.

In his detailed narrative, Osehobo recounted that by November 2023, the account had accumulated a significant balance, driven by interest yields.

However, discrepancies emerged in May 2024 when he did not receive a routine birthday wish from the bank. Instead, he received a message that included an OTP (One-Time Password), which raised his suspicions.

Advertisement

Osehobo argued that, “My subsequent investigations revealed that the OTP was part of a scheme allegedly orchestrated by the bank officials to access my funds fraudulently.”

READ ALSO: Reps Ask NERC, DISCOs To Reverse Band A Tariff Hike

He said that the unauthorized withdrawal occurred over multiple transactions on May 16, 17, and 18, 2024, without his knowledge or consent, facilitated by the misuse of the OTP system.

He expressed his conviction that Access Bank officials were complicit in the fraudulent withdrawals, leveraging internal banking processes to circumvent security protocols.

Advertisement

He conveyed his frustration and the significant impact of the lost funds, which he described as a considerable portion of his financial assets.

Osehobo called on the EFCC to investigate the matter thoroughly, hold the responsible parties accountable, and recover the misappropriated funds

.

Advertisement
Continue Reading

News

Lagos Taskforce Uuncovers 2 Illegal Petroleum Storage Facilities

Published

on

The Lagos State Taskforce has uncovered two illegal petroleum storage facilities where over 2,000 litres of diesel were recovered during multiple sting operations of blackspots in Ikoyi and environs.

Also, a total of 114 suspects were arrested and five were released unconditionally after properly identifying themselves.

The operation was led by the State Taskforce Chairman, Chief Superintendent of Police, CSP, Adetayo Akerele, in a late night operation on Tuesday night.

Advertisement

Akele explained that the operation was based on the feedback mantra of “see something, say something” put in place by the agency and the directive and support of the Lagos State Commissioner of Police, Adegoke Fayoade, major blackspots at Mosley Street, Glover Road and Lateef Jakande Avenue in Ikoyi were raided by the agency after concerned residents highlighted the clustering numbers of unidentifiable individuals at those selected locations and the conversions of residential areas to safe havens for suspected criminals and miscreants.

READ ALSO: President Tinubu Appoints New Head Of Civil Service

He said, “After having carefully analyzing the complaints received, a discreet investigation was carried out in the vicinity which confirmed the intelligence to be credible, and resulting in a late night raid.

“We have come out here to address issues of environmental and safety concerns in Ikoyi where residents have complained about the increasing numbers of miscreants who have converted these inner streets to restaurants, drinking spots, gambling spots, and boutiques to mention but a few.

Advertisement

“It is an eyesore what we encountered here during our investigations and we will ensure that we restore sanity to these streets immediately.”

The Chairman further disclosed that an illegal petroleum storage facility was discovered during the operation where over 2000 litres of diesel was discovered in an unsafe location, posing a risk to both occupants of the uncompleted building and neighbours on the same street.

READ ALSO: Biden Speaks Of Quitting Presidential Race If…

He stated that the occupants of the building risked safety concerns regarding storage of petroleum products which if not properly managed could result in a fire disaster.

Advertisement

“We have discovered over 2000 liters of diesel stylishly hidden in this abandoned building in an unsafe manner which could lead to a fire disaster.

“Diesel is highly flammable and also combustible if not properly stored. Therefore this miscreants are not just risking their lives through their ignorant actions but also the lives of their neighbors and passerby in the event of an explosion.”

Akerele also warned street traders who are still in the practice defacing the environment and disposing their waste into the gutters and drainage channels in any part of the state to move their trade to approved markets or risk being arrested.

He also warned miscreants who lay about and convert streets to religious grounds, social event centers and sports ground to desist forthwith or be prosecuted.

Advertisement

READ ALSO: APC Destroyed Nigerian Economy, All Institutions Built For 16 Years – PDP Governors

Akerele stated that such selfish actions hinder on the right of residents to live in peace and serenity as prescribed in the THEMES PLUS agenda of the State Government.

“I urge every well meaning Lagosian to notify us of any environmental infraction by any individual or groups of individuals in any part of the Metropolis to prevent an environmental mishap.

“Its our duty and responsibility to ensure that such infractions are nipped in the bud to maintain sanity and habitability across board.

Advertisement

“A total of 114 suspects were arrested and five were released unconditionally after properly identifying themselves and stating their business.

“The remaining suspects will be charged to court and all items confiscated will be forfeited to the state government through the court,” Akele affirmed.

 

Advertisement
Continue Reading

News

Abia Commissioner For Health Resigns

Published

on

The suspended Abia state Commissioner for Health, Dr. Ngozi Okoronkwo, has tendered her resignation from office, to Governor Alex Otti.

Otti, had on June 11, 2024, suspended the Commissioner for Health over alleged financial misconduct. The Governor also set up a committee to probe the allegations against her.

Chief Press Secretary to the Governor, Mr Ukoha Njoku, in a statement, disclosed that the Governor had accepted the resignation and thanked Okoronkwo for her services and modest achievement in repositioning the health sector of the state.

Advertisement

READ ALSO: Tension In Abia As Female Truck Driver Blocks Highway To Protest Harassment By Touts

“The suspended Abia state Commissioner for Health, Dr. Ngozi Okoronkwo has tendered her resignation letter to the Executive Governor of Abia State, His Excellency, Dr. Alex Chioma Otti, OFR.

“The Governor while accepting her resignation, thanked Dr. Okoronkwo for her services to our dear State and her modest achievements in repositioning the Health Sector for better service delivery in the last one year. He wished her well in her future endeavours.

“The Governor reiterated his commitment to the transformation of Abia State and reminded Abians that they gave him the mandate to assemble his team, and this includes hiring, suspending or sacking his appointees or rejigging and reshuffling his cabinet whenever the need arises for the sole purpose of delivering all his promises to the people,” the statement read.

Advertisement

 

Continue Reading

Trending