₦airaland Forum

There are speculations that President Muhammadu Buhari will keep the petroleum minister portfolio for himself in the new cabinet rather than trust anyone else with the ministry, which currently contributes over 80 per cent of Nigeria’s revenue.

Reuters quoted some close associates of the President as saying this on Tuesday.

One long-standing associate of Buhari, who spoke on condition of anonymity because the cabinet decision was still under wraps, said Nigeria’s oil sector was so dirty that nobody’s hands were clean enough to do the “surgical changes” needed.

Reuters also quoted another political associate as saying, “He will do it. It would be stupid to give that position to anyone else.”

The first source said Buhari had still not decided on his cabinet and had laughed off media speculation about the figures he would appoint, joking with friends as he read out a newspaper article that mentioned possible names: “They have picked my ministers for me! Have I even told you who I want?”

Buhari has extensive knowledge of the oil sector, having been head of the Petroleum Trust Fund under an ex-military ruler, the late Gen. Sani Abacha, in the 1990s and oil minister in the 1970s under Olusegun Obasanjo.

He was voted in by Nigerians on an anti-corruption platform after years in which graft appeared to worsen under the leadership of his predecessor, Goodluck Jonathan.

Buhari sent a list of 15 special advisers to the outgoing National Assembly for approval on Tuesday, but the cabinet is unlikely to be publicly revealed until the end of July or early August, Reuters reported.

The Senate, which must confirm the cabinet, will convene only briefly on June 9 before its members go on recess for up to six weeks.

“It’s going to be a lean government; I doubt he’ll have 42 ministers like Jonathan but he must have at least 36 (for the number of states) as prescribed by the constitution, though it does not specify whether they have to be senior or junior,” an adviser in the ruling All Progressives Congress party was quoted as saying.

The new administration had not yet gone through Jonathan’s handover notes on policy, the adviser said.

“There is a huge body of proposals being bandied around the place,” the adviser said, adding that nothing beyond broad strokes had been outlined.

Jonathan has left Buhari with a cash-strapped government, with a rainy-day fund so depleted that the government must borrow just to cover salaries.

The government relies on oil sales for the bulk of its revenues but there has been little oversight on how these are handled. A former Central Bank of Nigeria Governor, Lamido Sanusi, was sacked under Jonathan after he declared that some $20bn in oil revenues was missing between 2012 and 2013.

byteHead:
Very funny

Me i must collect my change before paying.

LAGOS—Nigeria earned N2.838 trillion from the export of petroleum products in the first quarter of 2015, according to data released, yesterday, by the National Bureau of Statistics, NBS.

The amount is 64.18 per cent of the Federal Government’s 2015 budget of N4.425 trillion.

The NBS, in its Foreign Trade Statistics for the first quarter of 2015, stated that the export of petroleum products accounted for 87.86 per cent of Nigeria’s total merchandise export of N3.23 trillion in the first quarter.

Giving a breakdown of the petroleum products export, the NBS disclosed that crude oil emerged the highest exported commodity in the quarter under review, valued at N2.251 trillion, representing 69.7 per cent of the country’s total export.

The value of the country’s crude oil export in the first quarter of 2015 represents an appreciation of 0.54 per cent when compared against N2.239 trillion recorded in the preceding quarter. The amount is, however, a decline of 30.4 per cent from total crude oil export of N3.234 trillion recorded in the first quarter of 2014.

Liquefied Natural Gas followed with an export value of N306.16 billion, while the country earned N152.268 billion from the export of liquefied propane.

Also, N128.49 billion was earned from the export of partially refined crude oil products; N21.247 billion from liquefied butanes and N4.706 billion was earned from the export of Liquefied Petroleum Gas and other gaseous hydrocarbons.

In general, the NBS stated that Nigeria exported mainly mineral products, which accounted for 2.880 trillion or 89.2 per cent of total exports.

Continuing, the NBS said: “The value of merchandise exports totalled 3.23 trillion in the first quarter of 2015, an increase of 275.6 billion or 9.3 per cent over the value recorded in the preceding quarter. ”

The Central Bank of Nigeria (CBN) yesterday explained how it discovered the N8 billion currency fraud. In a statement issued yesterday, Director, Corporate Communications, CBN, Alhaji Ibrahim Muazu said, “The Central Bank of Nigeria (CBN) would like to inform the general public of the chronology of events that led the Management of the CBN to handover some unscrupulous staff to the Economic and Financial Crimes Commission (EFCC) for prosecution.

“During a routine internal audit of the Bank’s Cash Destruction activities in September 2014, the CBN Briquetting Panel comprising Senior Bank Staff from different branches noticed some anomalies at the Ibadan Branch, and immediately reported this to the Bank’s Management.

On further investigation ordered by the Governor, it was discovered that a systematic scheme, which has been on for several years, was being run in which mutilated higher denomination notes originally meant for destruction were swapped with lower denomination currencies.

This practice known as interleafing, basically labels a box with a higher value than its true content.

“As soon as the Bank’s internal investigations concluded beyond reasonable doubt that some wrongdoing had occurred, the affected members of staff who are middle-level officers were, depending on gravity of offence, either summarily dismissed or immediately placed on indefinite suspension on 21 October 2014, and all handed over to the EFCC for further investigation and prosecution.

The CBN has also conducted a nationwide audit of all 37 branches of the Bank and found that this was an isolated scheme at Ibadan Branch. The Bank will continue to collaborate with the EFCC to ensure that affected CBN staff, as well as their accomplices in some commercial banks, are brought to justice.”

Recall that the EFCC on Sunday said that it has arrested six top officials of Nigeria’s Central Bank and 16 other workers of commercial banks for stealing and putting into circulation defaced and mutilated Nigerian currency notes to the tune of N8 billion meant for destruction.

The Commission said that the suspects have already been taken into EFCC custody preparatory to their arraignment at the Federal High Court, Ibadan on Tuesday, June 2. The trial will run till June 4 in a bid to speed up the prosecution of the suspects by the court.

A statement signed by the Head of Media of the EFCC, Mr. WilsonUwujaren, gave the names of the suspects as: Patience Okoro Eye( Abuja) , Afolabi Olufemi( Lagos), Kolawole Babalola( Ibadan), Olaniran Muniru Adeola(Ibadan), Fatai Yusuf, Adekunle( Head, Security, CBN, (Ibadan) and Ilori Adekunle Sunday,(Akure).

The 16 suspects who colluded with the CBN officials to commit the fraud are officials drawn from Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank.

Lagos State governor, Akinwunmi Ambode, has urged members of the opposition to join hands with him to take the state to greater heights.

He said his government would work with the 2012-2025 Development Plan, which will prioritise social security, infrastructure development and economic transformation.

The governor spoke shortly after he was sworn in by the Chief Judge of Lagos State, Justice Oluwafunmilayo Atilade, at the Tafawa Balewa Square, Lagos.

He said his administration would run an inclusive government, which he said would not leave anyone behind, adding that religious or tribal sentiment would not find expression in his government.

“No matter your age, tribe of religion, as long as you reside in Lagos, we will make Lagos work for you,” he said.

He commended Lagosians for their entrepreneurial spirit, noting that those who work hard will be rewarded.

He said his administration would create the Ministry of Wealth Creation, which will ensure that jobs and opportunities are available for the youth.

Ambode said: “Lagosians are hard working people. The state is striving because of its undying entrepreneurial spirit. However, we must realise that there are no shortcuts to success.

“Our youth must nurture good family value. I want our youths and younger ones to learn from my story. Anyone can rise and be what he wants to be. Your background and obstacle cannot be a barrier to your dream. In Nigeria and particularly in Lagos, you can always succeed.

“We must embrace new thinking and be determined to succeed at all times. I am ready to nurture that dream in our children, youth and every hard working Lagosian.

“We must reward hard work, merit and loyalty to the state.”

He maintained that the dwindling revenue from the federal government has affected the revenue base of many states in Nigeria. “But this state is blessed by the financial autonomy designed by our leader, Asiwaju Bola Tinubu, hence the state has been spared the negative trend affecting most states in Nigeria relying on the revenue from the Federal Government to survive.”

The governor said for Lagos to retain its financial autonomy, there is need to redouble its effort and commitment to survive without going cap in hand begging the centre for money.

He urged the people to be responsible tax payers in order to sustain the tempo of development in the Centre of Excellence.

“We shall implement creative ideas and concepts that reduce the cost of running government. This shall make life better and happier for our people,” he said.

Meanwhile, the governor has announced the appointment of key officials of his government.

In a statement he personally signed, Ambode named Mr. Tunji Bello as Secretary to the State Government (SSG) and Mr. Samuel Olukunle Ojo as the Chief of Staff.

The statement further said that Mr. Abiodun Bamgboye has been appointed Principal Private Secretary, while Mr. Habib Adamson Aruna was appointed the Chief Press Secretary.

Bello, journalist and lawyer is a former Commissioner for Environment. He studied Political Science at the University of Ibadan and later went to the University of Lagos where he bagged a Masters in International Law and Diplomacy. He later read Law in the same university.

ECOTERRORS:
The truth has just been exposed, the monsters they train to destroy GEJ administration have come back to haunt them

Six officials of the Central Bank of Nigeria (CBN) and 16 bankers who allegedly engaged in sharp practices over mutilated currency notes are now in big trouble and will have their days in court.

The EFCC has concluded plans to arraign six top executives of the CBN and 16 other bankers working with commercial banks, following their implication in the mega scam involving the theft and re-circulation of defaced and mutilated currencies.

While carrying out the assignment, the investigation team was alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1000 notes.

The indicted CBN officials are:
Patience Okoro-Eye (Abuja) , Afolabi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran Muniru Adeola (Ibadan), Fatai Yusuf, Adekunle (Head, Security, CBN, Ibadan) and Ilori Adekunle Sunday (Akure).

The lid on the scam, widely suspected to have gone on unchecked for years, was blown on November 3, 2014 via a petition to the EFCC alleging that over N6.58billion was cornered and discreetly recycled by top executives of the CBN at the Ibadan branch.

This sparked off the investigation by the EFCC.

The deposit banks in this instance are Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank.

The suspects will be arraigned on a five-count charge by the EFCC before a Federal High Court in Ibadan, Oyo State, between Tuesday and Thursday.

“The suspects, who were members of the Briquetting Panel, plotted their way to infamy on September 8, 2014, while carrying out a Briquetting exercise at the CBN Branch, Ibadan. In banking parlance, Briquetting is disintegration and destruction of counted and audited dirty notes. By this practice, depositor banks usually take mutilated notes to the CBN in exchange for fresh notes equivalent of the amount deposited.

“Instead of carrying out the statutory instruction to destroy the currency, they (the suspects) substituted it with newspapers neatly cut to Naira sizes and proceeded to recycle the defaced and mutilated currency,” said EFCC spokesperson, Mr Wilson Uwujaren.

hadura29:
Auf wiedersehen Namadi sambo., Wilkommen Prof. Osinbajo..

Iamsynord:
hmmn

The Former Security Adviser to the Bayelsa State Government, Chief Richard Kpodo, yesterday described as "diversionary" claims by the Former Governor of the State, Chief Timipre Sylva that President Jonathan is responsible for Economic and Financial Crime Commission (EFCC) failures.

Chief Richard Kpodo, who served as the Special Adviser on Security Matters to Governor Timipre Sylva, and is a known member of the All Progressive Congress (APC) in the State, said Sylva’s claim is shifting blame for his own mistakes as a Governor.

Chief Richard Kpodo, while speaking in Yenagoa, said the claims by Sylva that he was betrayed and deceived by President Jonathan in 2007 are "untrue,” "corrupt" and "blame shifting".

According to Kpodo,"Is it because Jonathan has become an outgoing President that he now come forward to make frivolous claims? He claimed Goodluck betrayed him, but he betrayed himself. When we took over the administration of Bayelsa state from Goodluck, a committee was set up. The committee discovered a near empty treasury and was advised to let the people of Bayelsa know,
that means he was a party to the fraud. He was acting the good boy script. He was sharing the State fund.”

Chief Kpodo, who commended the APC for recording huge victory at the polls, warned against laxity, "the Party should be wary of this defectors rushing into the Party, In as much as many are needed, the party should be wary of moles that may be planted by the PDP in Bayelsa and other states.”

Kpodo called on President-elect that his decision to come clean and expose the characters within the Bayelsa APC was based on the need for breath of fresh air and change, "I don't want an appointment but want the Nigerian people to be provided with jobs; nd for the power sector to be probed and repositioned. All we want is for the right candidate to be allowed to fly the APC flag in Bayelsa and for the people to witness and feel change. Then, I would have been satisfied."

Justice Ibrahim Bubba, of the Federal High Court in Lagos, has ordered the National Drug Law Enforcement Agency (NDLEA) to vacate the residence and properties of Senator-Elect Buruji Kashamu. Mr. Kashamu has been under House Arrest since the early hours on Saturday morning, when the NDLEA swarmed around his house.

Mr. Kashamu is currently wanted by the United States on charges of narcotics trafficking. He was incarcerated on similar charges in the United Kingdom, but released before his extradition to the United States.

The NDLEA issued press statements saying that Mr. Kashamu was placed under House Arrest so that it would be certain that he appear before the court on Monday May 25, for a ruling whether an extradition process to the United States would begin. However, the NDLEA was unable to bring Mr. Kashamu to court on Monday.

Mr. Kashamu’s lawyer, Ajibola Oluyede, spoke with SaharaReporters today and said that “the court order is a direct result of the motion I submitted yesterday, telling the court that what the Attorney General and NDLEA were doing was unlawful.” The motion stated that the Attorney General, Mr. Adoke, and the Chairman of the NDLEA were in violation of Mr. Kashamu’s human rights.

“We have now issued charges against the Attorney General and the NDLEA for criminal conduct for how they carried themselves,” Mr. Oluyede told a SaharaReporters correspondent.

He added, “they must now return to court on June 4th to answer these charges.”

Mr. Oluyede also stated that “it is clear that the original purpose of this invasion was to kidnap him [Mr. Kashamu] and ship him off to the US, in violation of the Extradition Act.”

“No arrest warrant was issued by the court, which means they [the Attorney General and NDLEA] never intended to follow legal procedure,” he said.

Mr. Oluyede then revealed that he received information that, “their [the NDLEA and Attorney General] first plan was to abduct him on Saturday and ship him off to the US. It was only when this failed that they started talking about taking him to court.”

Mr. Oluyede also told SaharaReporters that it is obvious that former President Olusegun Obasanjo was behind the latest efforts to arrest Senator-Elect Kashamu. “Prince Kashamu is the political nemesis of Obasanjo, who has now lost relevance in the South West.”

“Obasanjo is now a paper weight electorally in Nigeria, he may have international clout but he cannot get votes for people in Nigeria,” Mr. Oluyede said.

The NDLEA Head of Public Affairs, Mr. Ofoyeju Mitchell, told SaharaReporters that “the NDLEA has not received any court order to vacate Mr. Kashamu’s residence and we believe any order to vacate his residence is diversionary.”

Mr. Mitchell also stated that “the NDLEA refuses to be distracted by his court maneuvers and advises that Kashamu respect the law by submitting himself to the due process of the law.”

Mr. Mitchell also stated that it is false to suggest that the NDLEA has acted unlawfully, “we received a provisional warrant from the Federal High Court.”