Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,123 members, 7,811,159 topics. Date: Sunday, 28 April 2024 at 03:50 AM

Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved (21770 Views)

Ikuforiji's Company gets MultiBillion Naira Rail Contract without prior history / Wale Edun: Only 5% Of Nigerians Have Over ₦‎500k In Their Bank Accounts / Wale Edun Gets World Bank Appointment (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by ogugwa1992: 8:15am On Mar 16
Weeks After Attempt To Transfer NSIPs to Ministry of Finance, Wale Edun’s Company Gets Lucrative Contract From FG


Nigeria has hired investment banks including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. to advise it on the West African nation’s first eurobond issue since 2022.
 
Africa’s largest oil producer may raise as much as $1 billion in external borrowing in 2024 to meet its spending needs.

The government also hired Standard Chartered Bank and Lagos-based Chapel Hill Denham as advisers.
 
Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, is the founder of Chapel Hill Denham Group, an investment banking, securities trading, and investment management firm.
 
On its website, the firm says it provides comprehensive advisory services to a diverse client base, including financial institutions, multinationals, and governments. 
 
The firm getting the contract while Edun is the current finance minister, is a clear case of conflcit of interest, according to Nigerian public service rules.

Recall that Edun relocated the National Social Investment Programmes (NSIPs) from the Ministry of Humanitarian Affairs and Poverty Alleviation to the Ministry of Finance and Coordinating Economy few weeks ago, without presidential approval.

Media reports indicated that a panel hurriedly set up by the minister recommended that the programmes should be resumed to alleviate the sufferings of poor and vulnerable Nigerians.

But, curiously, the panel recommended that a new board under the leadership of Edun should oversee the social investment programmes.

Following the suspension of the humanitarian minister, Betta Edu, the previous overseer, the decision to shift NSIP to the Ministry of Finance and Coordinating Economy has been raising concerns in government circles.

Government officials fear that the move may lead to significant changes within the programmes, potentially involving the dissolution of the current board, removal of state coordinators, and the appointment of new leaders.

One of the concerned officials told SaharaReporters anonymously: “This is not a good move. The social investment programmes are currently domiciled in the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.

“They are implemented by the National Social Investment Programme Agency (NSIPA) by law.

“The executive bill sent by the Muhammadu Buhari administration to the national assembly placed the NSIPA, which is in charge of these social programmes, in the federal ministry of humanitarian affairs and poverty alleviation.

“A bill would have to be sponsored to amend the principal act.

“Anything outside of that is illegal and against the laws setting up the NSIPA.”

https://www.signalng.com/weeks-after-attempt-to-transfer-nsips-to-ministry-of-finance-wale-eduns-company-gets-lucrative-contract-from-fg/

6 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Namaster: 8:17am On Mar 16
You don't say.

A man appointed because of nepotism and corruption does nepotism and corruption.

I am SHOCKED!

97 Likes 5 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by WeddingParol: 8:34am On Mar 16
I knew you guys will fall for this but let me be kind to you.

It's not a matter of what some so called journalists published to brainwash you but you putting the extra efforts to get the truth.

Bolaji Balogun founded Chapel Hill Denham in 2005 and not the poor editing someone did on Wikipedia on Wale Balogun's profile of 1994.

Wale was appointed as the non-executive chairman which you could establish a company and appoint your mentor or a known subject matter expert in that position to provide guidance and policy direction.

Being a non-executive chairman has never conferred the title of ownership on the person.

If you check further, Chapel Hill Denham has been a major stakeholder in the Nigeria infrastructure debt fund management and has likewise spearhead various financial matters for several multinational including MTN, GSK etc.

I have attached some pictures to aid your ability to do your due diligence cool



[These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.]

26 Likes 6 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Ofunaofu: 8:34am On Mar 16
Tinubu's regime will certainly become the most corrupt government in the history of this country.

It will be unrivaled.

69 Likes 3 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Smithkafors(m): 8:37am On Mar 16
Lol.

Still waiting for the difference between Tinubu and Buhari.

Any new development?. Una don get light, good health care….is your schools now standard?.

49 Likes 3 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Tochi3(m): 8:39am On Mar 16
Emilokan parapo.. very tribalistic... nepostic never do wells...

..corruption everywhere..

39 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Brendaniel: 8:49am On Mar 16
See the people some people are placing their hopes on with their renewed hope agenda

45 Likes 3 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Akwamkpuruamu: 8:49am On Mar 16
That's how Tinubu and his goons want to fight corruption. Unfortunately his hoardes of epin pawa team are on cyberspace defending him in an empty stomach

37 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by datola: 8:50am On Mar 16
Nigeria as a so called country is a scam and everybody is looking for their own opportunity to scam the scam.

34 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by CamsedVacancy: 8:50am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.
As it is now and based on this your comment, you are the one with less than half education.
You lack basic reading and comprehension skills. It's Chapel Hill he is affiliated to not Citigroup

83 Likes 11 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Praktikals1000: 8:51am On Mar 16
grin
Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by unclejb2(m): 8:51am On Mar 16
Ebin pa WA ooo.

Baba Druggie and his goons are out to kill, to steal and destroy.

20 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by 004gist: 8:51am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.

Who are the people? Common read u won't read

The government also hired Standard Chartered Bank and Lagos-based Chapel Hill Denham as advisers.



Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, is the founder of Chapel Hill Denham Group

53 Likes 4 Shares

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by PHIPEX(m): 8:51am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.
Read first before you run to defend corruption, they never said he owns Citigroup.

49 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by phemmie06(m): 8:51am On Mar 16
Those that has been supporting Tinubu appointments should not complain cos they said BAT is only using his trusted people, same way he is also using the firm he trust.

Blind follower when will you see the reality that is about to be fall you

22 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Akwamkpuruamu: 8:52am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.

Read, you won't. Citigroup wasn't mentioned as owned by your Wale Criminal rather Chapel Hill Denham

37 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by NairalandGOAT1: 8:54am On Mar 16
Nigeria as a country is gone to the dogs!

Just find a way to get plugged into the corrupt system to grab your own share because this country can never be better than what we are seeing already.

No man I repeat No man, President or politician can clean up the mess in Nigeria not to mention getting it done in 8 years because the corruption is deeper and bigger than we can ever imagine.

Nigeria will only get better when we the Nigerians put our feet to the ground whilst raising our voices in one accord to say ENOUGH IS ENOUGH!!!

12 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by maasoap(m): 8:56am On Mar 16
New set of vultures have already positioned themselves for the billions of naira

19 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Vlibray: 8:56am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.
Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, is the founder of Chapel Hill Denham Group, an investment banking, securities trading, and investment management firm.
Half education ? maybe, maybe not.
But what is your own problem ?
You weren't taught how to read ?,inability to read or comprehend ?, dyslexia ?

33 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by SalamRushdie: 8:58am On Mar 16
We must legalize corruption in Nigeria
Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by reiddecuti: 8:58am On Mar 16
Tinubu's government is laying a foundation of corruption in Nigeria. He's breaking every record of corruption set by his predecessors.


He will finally set this country to the path to doom this country, what Buhari tried and couldn't achieve in 8 years of his term.


That's what you get when you vote because of religion, ethnicity, tribe and nepotism. It is also what you get when you allow ignorance and emotion leads you.

The effects of snatch it, grab it and run with it...

10 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by bigdammyj: 8:58am On Mar 16
Noted.
Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by lexy2014: 8:59am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.

Nigga didnt read. is there anywhere it was stated that Citigroup is Wale Edun's company? what do we now call your educcation?

The government also hired Standard Chartered Bank and Lagos-based Chapel Hill Denham as advisers.

Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, is the founder of Chapel Hill Denham Group, an investment banking, securities trading, and investment management firm.

11 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by DoTheNeedful: 9:00am On Mar 16
This is fake news carried by some obscure guerilla news outlets, run by those who still disgruntled by the last election.

Chapel-Hill Denham is not owned by Wale Edun. It is owned by Bolaji Balogun. This is the profile of Bolaji Balogun on the firm's website: https://www.chapelhilldenham.com/portfolio/mobolaji-balogun. He founded this private equity firm 19 years ago.

Nairaland mods should to vet information contained in threads before moving them to the FP. There is so much misinformation and fake news on nairaland these days. Unfortunately, a lot of Nigerians are too lazy to verify news themselves.

14 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Atikulated: 9:01am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.
you just proved you're the one who's half educated. You should go back to the article and read it again with no sentiment.

21 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by kcdendelo: 9:02am On Mar 16
Fools

2 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by SpatialKing(m): 9:03am On Mar 16
A man appointed to satisfy the tribalism and nepotism ego of South West...

Ngozi still remains the best Minister of Finance ever

4 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by VinnyBaba: 9:03am On Mar 16
See the Thieves That tinibu fans calls Technocrats. undecided undecided

6 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by Mindlog: 9:03am On Mar 16
WeddingParol:
These people and half education always coming out to chest beat on what they dont know.

How does Citigroup becomes Wale Edun's company?

He was an employee with vast expertise who gain the trust of the global management team and was made the chairman for Nigeria.

Go and read about Olagunju of the JPMORGAN, his case is similar.

A poor attempt of Intellectualization as a defense mechanism! cheesy cheesy cheesy cheesy

I guess you deliberately skipped the below to sound "smart"! cheesy cheesy

"The government also hired Standard Chartered Bank and Lagos-based Chapel Hill Denham as advisers. Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, is the founder of Chapel Hill Denham Group, an investment banking, securities trading, and investment management firm".

11 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by israelmao(m): 9:03am On Mar 16
Many Nigerians who supported the drug lord and the greatest robber of democracy called Yakubu Mahmoud who rigged presidential election without blinking should be blamed for the mess which Nigeria has found herself today.Buhari was a disaster Tinubu is a tragedy.

10 Likes 1 Share

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by 752hub: 9:03am On Mar 16
Am I the only one feeling that the real reason for this is not the conflict of interest but moving lucrative NSIP from humanitarian ministry to ministry of finance. The only reason dem go expose you for naija is because you wan spoil their chopings grin

6 Likes

Re: Wale Edun’s Company Gets Lucrative Contract Weeks After NSIP Was Moved by faceland: 9:03am On Mar 16
After one hour, still on page one. Is this not signs of no light and no data?

I don't care about corruption. Make una give us basic infrastructure. You can chop and work. Don't be a Buhari.

2 Likes

(1) (2) (3) (4) (Reply)

Zaria Massacre: Sheikh Zakzaky Sent To France For Treatment / We’ll Use Force If Dialogue Fails, Army Chief Tells Militants / I’ve Served Three Governors In 30 Years - Sanwo-olu

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 46
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.