Prigidypogodo:

I pity Wike after supreme court

Pity yourself online chest beater. Your problem for east dey wait una

nawaforyouo:


Nigeria is irredeemable

Especially the Obid!ots ones

Kobicove:
Who asked him?

Since when did he become their chef?

He just wants to use this to trend

Don’t mind him… he’s just acting like that dunce called PO who go dey put him mouth for Wetin no concern am… make that kind person dey talk say make the president dey in charge of economy and VP in charge of security… Nawaoooo

Antiurchins:
That's Terrorist attack Mr governor.....
Southwest is no more safe

Your wish for a terrorist to strike in our region will not come to past. Nah your eastern region go dey experience am

greatness22:
Scared of what will hit them.

Imagine Obidients, Red Cap movement and the reasonable atikulators in one team.

OTILO for APC and Agbado Supporters.

Una don start to dey daydream again

MrProlific95:
Technical Jargons, the layman question is, will this move make power more stable?

It’s a technical jargons since you don’t understand. Hatred will consume you if you’re not careful

Bliss4Lyfe:
Tinubu the tribal bigot is sending CBN to Lagos in what sense?


That Lagos is the Deputy FCT or what?


A place Tinubu have turned into a tribal enclave.


All banks should move their headquarters to Abuja.

Nah PO cos am that’s why una get this tribal mentality

ArinzeAnthony03:
A very useless man called wike

Go get a life. You’re just being envious. He’s made already

SoNature:
Shameless politicians...they keep changing parties for their selfish interests. I'm still wondering why there's no law barring politicians from leaving their parties.

Also, politicians need to be reminded that parties win elections, not politicians. You won an election with a party, decamp to another party and still want to retain that position. If you want to do that, review electoral acts to allow for independent candidates. This is common sense.

Only Jagaban still remains in one party

coolcharm:
It's not about paying fines.
What did they do?

Don’t be lazy, just go read previous news

AqualinaXYZ:
Akpabio is the most useless senate president ever






Tinubu is the most foolish president ever existed

The election still dey pain you

The former Central Bank of Nigeria Governor, Godwin Emefiele, illegally lodged billions of naira in no fewer than 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.

The Special Investigator on the CBN and Related Entities, Jim Obaze, found that the ex-CBN governor lodged £543, 482,213 in fixed deposits in UK banks alone without authorisation.

When contacted, counsel for Emefiele, Mathew Bukkaa, SAN, asked one of our correspondents to send him a text message. He has yet to reply to the message as of the time of filing this report.

Meanwhile, Obaze submitted his final report tagged, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offences) to President Bola Tinubu on Wednesday.

The report partly read, “The former governor of CBN, Godwin Emefiele invested Nigeria’s money without authorization in 593 foreign bank accounts in United States, China and United Kingdom, while he was in charge.

“All the accounts where the billions were lodged have all been traced by the investigator.”

In a letter dated July 28, 2023, sighted by The PUNCH, President Bola Tinubu had named a former Executive Secretary of the Financial Reporting Council of Nigeria, Obazee, as the CBN special investigator

Emefiele, who is currently in Kuje Custodial Centre, is being prosecuted for N1.2 billion procurement fraud.

He has not been able to perfect the N300m bail granted him by a High Court of the Federal Capital Territory on November 22.

However, documents obtained by our correspondent on Thursday indicated that the former apex bank governor might face fresh criminal charges over the handling of the CBN naira redesign policy.

Emefiele could be prosecuted for illegal issuance of currency under section 19 of the CBN Act alongside Tunde Sabiu, a former aide to former President Muhammadu Buhari, and 12 top directors of the CBN.

It was gathered that the naira redesign policy was sold to Buhari at the instance of Sabiu and that the initiative was done without the approval of the board of the CBN.

No approval

The investigator found that Buhari didn’t approve of the naira redesign. It was Tunde Sabiu who first told Emefiele in September 2022 to consider the redesign of the naira. On October 6, 2022, Emefiele wrote to Buhari that he wanted to redesign and reconfigure N1000, N500 and N200 notes.

“The former President tagged along but did not approve the redesign as required by law. Buhari merely approved that the currency be printed in Nigeria. The redesign was only mentioned to the board of the CBN on December 15, 2022, after Emefiele had awarded the contract to the Nigerian Security Printing and Minting Plc on October 31, 2022,’’ the documents noted.

Emefiele was said to have contracted the redesign of the naira to De La Rue of the UK for £205, 000 pounds under the vote head of the Currency Operations Department after the NSPM said it could not deliver the contract within a short timeframe.

The special investigator found that N61.5bn was earmarked for the printing of the new notes out of which N31.79bn had been paid.

As of August 9, 2023, findings revealed that N769bn of the new notes were in circulation.

The probe of the CBN also revealed the fraudulent use of N26.627tn Ways and Means of the Apex Bank as well as the misuse of the COVID-19 intervention fund.

For instance, the CBN under Emefiele at its 661st meeting held on October 27, 2020, approved that the Consolidated Revenue Fund Account should be debited with the sum of N124.860bn, and the decision was implemented on October 9.

Similarly, the Committee of Governors at its 670th meeting held on December 9, 2020, granted anticipatory approval ‘’pending receipt of a formal request by Mr President and ratification by the board of directors the payment of the sum of N250bn only to the Federal Government of Nigeria to address challenges as a result of low revenue inflow and the payment of salaries.

The decision was implemented on December 15, 2020.

Anticipatory approval

Also on December 30, 2020, the committee of governors at its 672nd meeting granted another anticipatory approval for N250bn to the Federal Government for payment of salaries pending receipt of a formal request by Mr President and ratification by the board of directors.

The apex bank’s management through the Finance and General Purpose Committee equally granted anticipatory approval on the investment of $200mn in equity warrants of the Africa Finance Corporation.

According to section 38 of the CBN Act, 2007, the CBN could grant temporary advances to the Federal Government in respect of temporary deficiency of budget revenue at an interest.

The section also provides that such advances are to be repaid by the end of the financial year in which they are granted otherwise, the CBN shall be stopped from granting such advances in the subsequent year.

The advance is not to be repaid by way of promissory note, securitization or issuance of treasury bills.

The CBN investigator discovered that the CBN Ways and Means was abused under the Buhari administration.

The document further said, “In an instance, they (senior CBN and government officials) padded what the former President Muhammadu Buhari approved with N198,963,162, 187. There are instances where no approvals are received from the former president and yet, N500bn is taken and debited to Ways and Means.

“There are more shocking instances where the erstwhile CBN governor and his four deputy governors connived to steal outright in order to balance the books of the CBN.

“This was by violently taking money from the Consolidated Revenue account and then charging it to Ways and Means. It was a total of N124.860bn. They even created the narration as a presidential subsidy and expanded the ways and Means portfolio to accommodate crime.

“The CBN officers and even the then acting CBN governor could not produce the Presidential Approval of most of the expenses described as ‘Ways and Means.’ When confronted, to provide the breakdown of the supposed N22.7trn that was presented to the 9th National Assembly to illegally securitise as ‘Ways and Means’ financing, they were only able to partially explain a total of N9.063 trn or N9.2trn depending on which official you are considering his submission and an unreasonable attribution of non-negotiated interest element of N6.5tn.

“This shows that this was the point where the officers of the immediate past administration as well as the erstwhile CBN governor and his four deputy governors connived, defrauded, and stole from the commonwealth of our country with the aid of civil servants.’’

Continuing, the report said, “The true position of the Ways and Means as documented from the reconciliation between the CBN and the Ministry of Finance at the time is N4,449,149,411,584.54.

“This may have been the main reason the past administration hurriedly sought that the advances of N22.7trn be securitised by the 9th National Assembly on December 19, 2022, which they also hurriedly did despite the fact that it contravenes section 38 of the CBN Act, 2007.”

Legal fees

The CBN under Emefiele was also said to have spent N1.7bn on questionable legal fees for 19 cases instituted against the naira redesign policy.

The investigator also discovered how Emefiele misrepresented the presidential approval for the NESI Stabilisation Strategy Limited approved by former president Goodluck Jonathan.

The document read, “The Presidential approval granted by then President Goodluck Jonathan was rightly stated by him NESI should be a company limited by guarantee but the Committee of Governors misled the Board of the CBN by relying on non-existent advice by the office of Attorney-General and Minister of Justice to incorporate a company limited by shares for which the allotted share capital exceeded the authorised share capital (See 380th meeting of the Committee of Governors held in January in January 2015) and allotting unauthorised share capital to Mr Godwin Emefiele and Mr Mudashiru Olaitan without lawful approval by the President.

“N1.325bn was stolen pre-incorporation and the money funnelled to four companies, including a legal firm which got N300mn.’’

Between 2015 and 2021, an investment company was said to have collected unlawfully a total of N4.89bn.

A breakdown indicated that the firm received N262mn in 2015, N464mn in 2016, N550mn in 2017, N726mn in 2018, N762 in 2019, N684 in 2020 and N1.44bn in 2021, totalling N4.89bn.

Emefiele also allegedly paid N17.2bn to 14 deposit money banks participating in the Nigerian Electricity Market Stabilisation Facility.

“A total of 14 DMBs engaged in the manipulation by unlawfully arranging and collecting 1.9535 per cent of the total disbursements paid to the DMBs participating in the Nigerian Electricity Market Stabilisation Facility.

The fees are paid to the banks in the ratio of their contributions to the NEMSF disbursement, according to External Auditor’s Notes to the Financial Statement of NESI Stabilisation Strategy Limited.

“The CBN also went further by authorising the issuance of debenture for the NESI SPV, starting with N64.8bn in 2015. By 2021, N952bn debenture had been issued. The investigator said the money was diverted from public funds,’’ the document further stated.

It was further gathered that Emefiele could be tried for alleged manipulation of the naira exchange rate, fraudulent implementation of the e-naira project, and exemption of three foreign firms from paying income tax.

Meanwhile, the investigation has uncovered the strange illegal withdrawal/theft of $6.23mn from the CBN vault by two persons who used a forged presidential letter.

The suspects currently in custody were said to have presented a forged letter on February 7 and 8, 2023, purportedly signed by Buhari to withdraw the money allegedly meant for payment for foreign election observation missions.

Dreal1247:
Wike I hope you don't dance naked on the streets of Nigeria. The Ijaws are not smiling. Trade with caution. When it snowballs into an intertribal war, your family may be the first victims.

Why lamenting… ellupee people

ican2020:
Charity begins at home

Uzodinma How far with your own IMO state where you are in control

He’s doing well as well only if you want to bring in hatred

Armaggedon:
He is a drowning man

And you’re what?

Afamsi:
They are not Jehovah Witnesses, they are devils witnesses. Flee from them if you ever want to make heaven. People that do not believe in Trinity and are making God a liar

You know nothing about trinity my friend.

Curse777:




Keyamo's blood is hot, he needs to slow down

If you sack them all, we might not have enough professionals to replace them

But truly, Nigerian Airport under FAAN need total overhaul, from corruption to theft to begging and bribery


Airports are gateway to a country, and Nigeria chooses to showcase bribery, begging, corruption to incoming guest


.

What even makes you think that those who was appointed by serika are professionals

Cj4charles:
e don pain you die😂🤣

Abi

Chispa:
wikes men. Batstards

Ipob and ellupee are foolish

drerocker:

Yu are lucky you are in a state where everything deal
Na chopper them go use ,
You are only provoking them

If you like go use fighter jet okay. Nah only bad news una like to dey hear, bad news wey go sweet you

CaptainAyub:
Very thoughtful of him to also donate to the staff and personal purse of the hospital.
Meanwhile,cocaine man pass Kaduna wey be next door to Abuja,head to Maiduguri,the extreme end of the country,to condole with the victims
Say nò to drugs

Still wailing

Urheadmaster:


This is the real definition of sucker punch 👊



Bola Ahmed Tinubu deserves this kind of punch on his forehead if to say Nigerians are wise like this club president

You wey wise why you no go give give Tinubu the punch… Mumu ipob boy

WhisperedNoise:
This man should just resign. It's not difficult. Life is worth more than holding to a position. Interesting to note that this same man castigated Yaradua. He should resign na. Haba. Africans and holding on to power.

How will he resign? Do you know if he’s conscious or not. This man has leukemia for God sake and it’s at the advance stage. He may not know anything again.

God1000:
Foolish move, this will further make things worse between them and the governor

It’s a nice move. They don’t need to satisfy you okay. Ipob

oz4real83:
When a deputy says "I will" instead of 'the state will" when on an official assignment, that becomes a selfish or personal interest and no principal will take that. . The next place that will become the deputy governor's office may be the sambisa forest , the last time he was relocated from the govts house to it's present location when he became at loggerheads with the governor

He’s correct by personalizing it because he has no access to the state coffers. Remember he’s a deputy governor and he can’t sign any money.

chiefolododo:
If the election is free and fair, he cannot win any state

But you know him ...he is ready to grab it and run away with it


Not even when the current Eyeneck chairman is the one in charge

Nah you fit win state abi… una sha like to dey talk rubbish. Wailing continues till 2031

Generalmystic:
You see, when oyibo without a form of interest or emotional attachment to Nigeria speaks, you can't help but agree with him.

I'm not from SE, but that region has been so neglected.

But whenever oyibo say the reverse then you will start complaining ; anyway ask your so called politicians how many projects they’ve been able to do in your region. Hold them responsible

Bobloco:
There's a saying that when dining with the devil, use a long spoon

Wike is hell bent on removing fubara, the earlier fubara get hold of the entire PDP structure in river state and push Wike to the APC the better for his survival

I see what you may not have seen. It’s too late, only if fubara wants to embrace peace or be booted out. Truth is bitter

ChristCee:

Omo lasalasan ikeji aja. Oke okun ni mo wa, I live in a foreign country comfortably. The kind of life your father could not afford tou.

Too bad of what you said. Traveling out is what you count as luxury… too bad. I don’t need to say much, i know your type

Simpleshafee:
This chamber is not befitting for a state like Benue.

You can donate a building for them

rottenPussy:
Someone that floated a University won’t have certificate?!

If that’s the case, heads must roll in NUC

Dumbo