President Muhammadu Buhari has asked the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, to respond to an allegation that he refused to recover N300 billion allegedly hidden in some Nigerian banks after his attention was drawn to the money by Dr George Uboh and his company, Panic Alert Security System (PASS) engaged by the minister to trace the money.
‎The president’s query followed two letters of complaint written against the AGF by Uboh and his company, PASS, accusing him of frustrating efforts to recover already identified funds.
In his response, Malami denied the allegation and pledged his commitment to recover all stolen money in line with the position of the Federal Government.
‎He also said that he revoked the mandate he gave to PASS and Uboh to recover the monies because Uboh went beyond the mandate given to him.
In his reply to the president through the office of the Chief of Staff, Alhaji Abba Kyari, dated 4th April, 2016 with Reference Number HAGF/SH/2016/Vol.1/20, the minister said the allegations levelled against him were unture and baseless.

Uboh had accused Malami of deliberately frustrating him his effort to recover over N300 billion his company, Panic Alert Security Systems (“PASS”) allegedly traced to some Nigerian banks.

‎The minister said, “In demonstration of my firm commitment to the recovery efforts of the government, I gave PASS a letter titled: TO WHOM IT MAY CONCERN dated 17th February, 2016, introducing PASS to the aforesaid banks/financial institutions.

“The aforesaid Letter of Engagement dated 9th February, 2016 and the subsequent Letter of Introduction dated 17th February, 2016 (“HAGF Letters”) were given to PASS on the firm understanding that PASS had already identified and/or traced specific FGN funds stashed/trapped in the aforementioned banks and that PASS would promptly embark on processes that would lead to actual recovery and remittance of the traced funds into the designated account of the FGN in line with the proposals submitted, presentations made and the terms contained in its letter of 9th February, 2016.”

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benideey:

Foreign consulting and contracting construction firms with incorporation of indigenous firms will handle the construction. It will be a mega-project and very much capital intensive, but am confident that Nigeria can fund it.

Security is now a global challenge. I feel if we could work on the minds of people, give them a sense of ownership of infrastructure within their vicinity. They will probably not think ill about it since they will now know they own it. Reforms should be done to get the youths gainfully employed, a means of livelihood for all who are hungry and have no food,shelter and clothing. An hungry man is likely going to think of evil, why not get him food or give him a land to plant and he will live peacefully afterwards. Not forgetting, we have to keep the Nigerian force active in those zones.

Investors take calculated risk. If we can make good negotiations and convince them that we can tackle our security challenges. They should hopefully agree with us. Let's not be pessimistic, we can make our environment peaceful too.

Things will definitely get better. Be patriotic.

benideey:
If only the federal government can explore the ocean economy in South South, Within months, those Centres will become the commercial hub in Africa.

Have never seen a state close to a working seaport undeveloped. This project should commence with immediacy. I think, a working seaport in South South will be one measure to reduce the population in Lagos. Our sons and daughters will return home immediately knowing that development will surely spring up.

God bless Nigeria. Greater things ahead.

kettykin:


Gowon and Awolowo after 2 years of fighting and loosing a lot of soldiers more than 400,000 to the shock of Britain and Soviet union had no other option than to rely on starvation and sabotage of farmlands, today that dynamics of war has changed because from the look of things niger delta militants are likely to rely on very fast lightning strikes which they have always relied on and brute ambushes in the creeks, may God help nigeria to avoid war.

This is what exactly a country with vision less leadership gets.

kettykin:

If gowon and Awolowo could not level biafra after 30 months with the support of foreign powers and local powers then buhari and osinbajo can not level or even attempt to level niger delta, this war will not end in the creeks.

persius555:
The approach of this group is what gives concern. In all of this, it is the communities that will suffer as both the militants and FG care less about their wellbeing.
PMB will do well to make public a developmental plan devoid of the amnesty rubbish that characterised the last governments. The fundamental issues concerning the region should be approached with sincerity and the criminals dealt with decisively.
I stand by my word that majority of those that constitute this group were once beneficiaries of the amnesty fraud. They simply got greedier and want more. How is that an agitation that is justified.
Nonsense!!!

rudebouy:
Whats up with the Ibaka abi na Ibom Sea Port in Akwa Ibom? Abi nothing dey happen for dat side?

christopher123:


Are you there ..are they not your mates ?

gbeymey:

If u don't have reasonable answer 2 my question don't quote me.

Karm16:


In a civilized country that recognizes skills and talents, it would have been 60%.

gbeymey:
They were selected based on what criteria?

Karm16:
Ibos are good with petty trading, Yorubas are successful with business/entrepreneurship.

Pedropa:

No, u only serve as slave inur normal way of prostrating to ur masters to earn such favours.


We will soon correct that nonsense with (to ur tent o Israel" or regional system.


At least we will liberate u from slavery though such favours from ur master will go with it.

BAILMONEY:
[s][/s]NONSENSICAL

Pedropa:

This news no suppose enter ur likes from the west ear, i know say una go don dey make plans to sabotage the port and see it is not completed. God pass yoruba

Stalwert:
Foolish wailers be like we will not take it this is witch hunt but the witches involved keep vomiting stolen funds. sai Nigeria. .. We will get there inshallah

Beremx:
this one you didn't create a thread about Igbos, adupe o!

The Economic and Financial Crimes Commission (EFCC) has released the chief executive officers of two Nigerian banks after the men returned billions of naira they had illicitly acquired from political slush funds during the administration of President Goodluck Jonathan.
BY SAHARAREPORTERS, NEW YORKMAY 07, 2016
The Economic and Financial Crimes Commission (EFCC) has released the chief executive officers of two Nigerian banks after the men returned billions of naira they had illicitly acquired from political slush funds during the administration of President Goodluck Jonathan.

Two EFCC sources told SaharaReporters that Sterling Bank’s CEO, Yemi Adeola, who was arrested on Wednesday in a raid on his bank by EFCC operatives, was released last night after he deposited a payment of N5 billion. According to one of our sources, the money returned by Mr. Adeola was in partial restitution for a transaction of $88 million he received from Nigeria's former Petroleum Minister, Diezani Alison-Madueke.

Mr. Adeola is expected to pay back a total of N17 billion to the recovery accounts of the Nigerian treasury within two weeks.

Also released last night was Herbert Wigwe, the Managing Director of Access Bank Plc., who was arrested yesterday after EFCC agents raided the bank headquarters in Lagos.

A source at the EFCC told SaharaReporters that some notable personalities, including Oba Akiolu of Lagos and the bank's former CEO, Aig-Imokhuede, had pressured the anti-corruption agency to grant Mr. Wigwe bail. “We refused all such entreaties until Mr. Wigwe returned $5 million.” EFCC investigators said Zenith Bank had illicitly transferred the $5 million to Access Bank from a slush fund arranged by Ms. Alison-Madueke.

The EFCC source said the agency was conducting discreet investigations and recoveries of plundered funds from rogue bank CEOs who assisted Ms. Alison-Madueke and other officials of President Jonathan’s administration to launder funds. He added that most of the funds were laundered through opaque accounts that were kept “off records” by bank MDS.

The case of Access Bank was also linked to oil businessmen Jide Omokore and Kola Aluko, now a fugitive. Between them, both men are suspected to have stolen more than $6 billion from oil proceeds that should have accrued to the Nigerian government treasury.

According to an EFCC source, the two oil businessmen’s link at Access Bank is an executive director, Angela Ebagua, who is Omokore's wife. EFCC investigators who recently searched Ms. Ebagua Lagos home found her in possession of a $600k wristwatch.

One of our EFCC sources disclosed that the agency was now looking at First Bank. He said the EFCC’s investigation of the bank was focusing on the bank’s role in laundering more than $1 billion for the National Security Adviser’s office during the tenure of Colonel Sambo Dasuki, who is on trial for funneling billions of dollars of security funds into private hands. The source added that First Bank may have helped launder funds for Ms. Alison-Madueke, Mr. Omokore, and Mr. Aluko. EFCC officials recently invited a former CEO of the bank, Bisi Onasanya, for a chat.

Cross River State Governor, Prof. Ben Ayade, on Thursday, said the construction of the state’s deep seaport would commence in three or four months.

Ayade said this in an interview with State House correspondents shortly after meeting with President Muhammadu Buhari at the Presidential Villa, Abuja.

The governor said he was at the Presidential Villa to update Buhari on the seaport and super highway projects.
He said preliminary and detailed designs had been completed, while the documentation and inauguration of the steering committee were being done.

Ayade said the Minister of Transportation, Rotimi Amaechi, would inaugurate the steering committee later in the day.

He said, “We will have that inauguration as soon as I leave here. And once that happens, the consultancy component will start towards issuing the OPC, which we will use to present to the Federal Executive Council for approval so that construction will start.

“We see that happening in the next three or four months with the speed and tempo I am getting from the government.

“On the issue of the EIA for the super highway, I had a meeting with the Minister of Environment. It was part of what I briefed Mr. President about and she (minister) has shown so much energy and enthusiasm.

“While ensuring she protects the environment, I have reached a critical point of understanding on the way forward. Two projects are going on simultaneously. Almost one year after we got into office, having reached this stage, it is obvious that in four months, there will be full construction.”

Ayade said the seaport would create at least 30,000 jobs for the people of the state.

He added, “It is going to be a place where all modern vessels will pass and it will create at least 30,000 jobs, and because Cross River has 20,000 square kilometres of landmass, it will cause an expansion of the state and that will change the economic and business activities of the state.

“In clear terms, that highway and the deep seaport will benefit the states of Kogi and Nasarawa, because without a deep seaport, it will be almost impossible to exploit the iron ore deposits in those states.”