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ICPC moves to end Ilicits Financial Flows in Private Sector

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..Rallies stakeholders on draft model financial transparency code
The Chairman, Independent Corrupt Practices and Other related Offences Commission (ICPC), Prof Bolaji Owasanoye SAN has reiterated commitment to curb illicit Financial Flows(IFFs) in the private sector.
Owasanoye made this known on Monday at the ‘Draft Model Financial Transparency Code Developed for the Private Sector’ review held at the commission’s headquarters in Abuja.
The Chairman who was represented by the Secretary of ICPC, Prof Musa Abubakar disclosed that efforts will be strengthened to stymie corruption within Nigeria’s private sector.
According to him, the Oil and Gas, Education, Real Estate as well as taxation, investment sectors are areas of serious concern for the Commission.
He explained that inputs from stakeholders on the draft code will go a long way in tackling IFFs.
“The Commission in conjunction with Inter-Agency Committee for Stopping Illicit Financial Flows (IFFs) from Nigeria and with the support of Ford Foundation has undertaken a range of activities including research to better appreciate the nature of Illicit Financial Flows (IFFs) in Nigeria including its full extent as well as its incidences in many sectors like Oil and Gas, Education, Real Estate as well as taxation, investment and contract negotiation. These activities have enabled members to gain a better understanding of IFFs from the perspective of other agencies. It is noteworthy that workshops on capacity development for Investigators, Tax Inspectors, Prosecutors and Negotiators of Trade, Investment, Tax and Natural Resources Agreements have also been executed.
“Presently, action is on-going to develop technological tools to help identify, detect, curb and monitor IFFs.
“The key focus of today’s meeting is to review and make inputs to a draft code developed for the Private Sector which will go a long way in tackling IFFs. After the review of the Draft Document and relevant amendments/inputs, there will be a series of sensitization/engagements before it’s deployment to the Private Sector for voluntary compliance”, he stated.
On his part, the lead Presenter, Dr Kolawole Ebire emphasized that the code scheme of IFFs for private sector is aimed at improving transparency.
He said the Draft Code upon implementation will reduce loss of pubic revenue in commercial transactions.
During an extensive interaction on the draft code, stakeholders such as the Chairman, Inter-Agency Committee for Stopping IFFs, Dr Adeyemi Dipeolu, Mr Soji Apampa, Mr Pattison Boleigha, Mr Busayo Balogun and others stated that the implementation of laws on IFFs is critical to curbing the menace.
Participates from the banking sector, professional bodies, International Organisations actively added their voices to the discourse.

Tension as terrorists attack troop of Presidential Guard Brigade in Abuja

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…Wounded Soldiers hospitalised

Panic spread across the Nation’s capital as the troops of the 7 Guards Brigade which provides security for the Presidential Villa and the Federal Capital Territory (FCT) have been attacked by gunmen suspected to be terrorists.

They were ambushed in the late hours of Monday while on patrol along the Kubwa-Bwari Road in the nation’s capital.

A spokesperson for the Guards Brigade, Captain Godfrey Anebi Abakpa, confirmed the incident to Nigerian Newssphere in a chat on Tuesday.

He, however, said the attack was successfully repelled by the troops.

Captain Abakpa said a few of the men who were wounded in action have been taken to a hospital where they were receiving treatment.

He added that the troops were combing the general area to get rid of the criminals who have been threatening the general area.
“They were attacked, and the attack was successfully repelled. We had a few (men) wounded in action who have been taken to the hospital and receiving treatment,” the Guards Brigade spokesman said.

He advised residents of Abuja to go about their lawful businesses and keep cooperating with the military by providing timely information to enable them curb the activities of the criminals.
“At the moment our troops are still combing the general area to get rid of the criminals who have been threatening the general area.

“It is advised that residents go about their lawful businesses and keep cooperating with us by giving us timely information to enable us win the fight against the criminals,” Captain Abakpa added.

The latest attack comes a day after the terrorists who kidnapped train passengers on the Abuja-Kaduna rail on March 28 released a new video.

In the clip which went viral on Sunday, they threatened to abduct President Muhammadu Buhari and Governor Nasir El-Rufai of Kaduna State, as well as other top government officials.

The attack also came less than a month after terrorists invaded the Medium Security Custodial Centre, Kuje, in the FCT and freed all Boko Haram terrorists in custody, alongside other inmates.

The terrorists have also threatened to launch massive attacks on the nation’s capital.

On Monday, the Federal Government ordered the closure of one of its colleges, the Federal Government College located in Kwali Area Council of the FCT over security concerns after gunmen reportedly attacked two adjoining villages to the school.

According to sources, the attackers of the Guards Brigade were headed to the Nigerian Law School in Bwari when they ran into the troops.

This is coming as Body of Benchers Nigeria in a newspaper publication on Monday notified aspirants of call to bar ceremony slated to hold on Wednesday in Nigerian Law School, Bwari.

Anxiety, as victims protest over alleged sack of 500 NNPC staff

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…As company offers juicy packages to appease affected staff

…Spokesman blocks WhatsApp line of Nigerian NewsDirect CEO

After the heavily mediatized rebranding of the Nigerian National Petroleum Corporation (NNPC) to a commercialised firm, multiple reports have started making the round over alleged appointments termination of 500 employees leading to fear, anxiety and tension by stakeholders in the industry.

In what many have described as a compensatory move, juicy severance packages were offered to the affected staff, especially some of the General Managers and Group General Managers who have since kicked against the company’s move.

However, some of the management members of the company affected have kicked against it.
The affected 500 staff of the company were reached through their email addresses telling them that the company no longer needs their services and that a mouth-watering severance package has been put in place for them.

The affected officials have up till the first week of August to decide, otherwise the company may take actions deemed necessary to relieve them of their jobs and the severance package may elude those that refuse to go.
Those affected are billed to retire by the years 2022, 2023, and 2024.

The Group Managing Director and Chief Executive of NNPC Limited, Mele Kyari was accused of having said during a meeting with the staff recently that “you may accept the package or reject it, but you are advised to take it.”

Investigation further showed that the affected General Managers and Group General Managers became agitated, insisting that they want to complete their official tenures by retiring at 60 years of age.

Meanwhile, sources within the company who preferred to remain anonymous said though no one may be forced out of the system, if they fail to take advantage of the severance package, they may have themselves to blame afterward.

To effect this development, a portal was allegedly opened online with points to click, one for acceptance of the severance exercise and the other for the rejection of the letter, whichever way any of the affected officials choose, by the first week of August, the portal would be closed.

Aside the juicy package for those affected, they would also be entitled to 50 per cent of their salaries until the time they are naturally expected to serve out their tenure in the company.

Some of the staff who spoke with the media said the action of the company is not punitive and wished to be part of the exercise. The company has also offered to write off  loans any of the affected staff.

Recall that the company transitioned to a commercial venture, NNPC Limited, on Tuesday, 19 July 2022. It is hoped that this transition would bring with it a whole new set of operational efficiency and competency to NNPC Limited.

Efforts to get reaction from the GGM Public Affairs Mr Garbadeen Muhammed proved abortive. There was no response to text messages while the WhatsApp line of the Publisher/Editor-in-Chief Nigerian NewsDirect Newspaper, Dr Samuel Ibiyemi was blocked by the GGM Public Affairs.

ICPC arraigns Deputy High Court Registrar over fraud

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned a Deputy Chief Registrar of the Federal High Court, Port Harcourt, Mrs. Nkem Apollonia Mba, for alleged involvement in fraudulent activities.

This was contained in a statement released by the Commision’s Spokeperson, Mrs Azuka Ogugua on Monday.

Mrs. Mba was docked on a three-count charge before Justice Leteem Nyordee, of the Federal High Court 12, Port Harcourt, for offences bordering on abuse of office and corrupt demand of gratification by a public officer.

One of the counts revealed that the Deputy Chief Registrar received a kickback of N500,000 through her bank account from the purchase of Automotive Gas Oil popularly known as diesel and other products. She however argued that the money was her two percent entitlement according to Order 16 of the Admiralty Jurisdiction (Procedure Rule) 2011.

The court heard that her offence contravened Section 10 and 19 of the Corrupt Practices and Other Related Offences Act, 2000, and is punishable under relevant sections of the same Act.

The accused pleaded “Not Guilty” when the charge was read to her. Consequently, her counsel, S. Somiari applied for bail praying the court to grant her bail on liberal terms.

The bail application was not opposed by the prosecuting counsel, Dr. Agada Akogwu. The trial judge in granting the prayers, admitted her to bail in the sum of N500,000 with a surety who must have landed property in Port Harcourt.

Justice Nyordee further ruled that the accused must deposit her international passport with the court Registrar. The case was then adjourned to 26th July for commencement of trial.

 

Increasing energy cost, currency depreciation, insecurity major challenges to investors- CPPE

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Centre for the Promotion of Private Enterprise(CPPE), has highlighted increasing energy cost, currency depreciation, insecurity as major challenges facing investors in Nigeria.

CEO of CPPE, Dr Muda Yusuf stated this on Sunday in a document titled ‘Half Year Economic Review’.

This is coming as the Minister of Finance and Budget, Mrs Zainab Ahmed during the presentation of the 2023-2025 Medium Term Expenditure Framework(MTEF) held last week, painted a gloomy and disturbing picture of the state of government finances, suggesting that the government is on the brink of bankruptcy.

To add perspective to the situation of Nigeria’s economy, Muda gave a detailed analysis in the document cited by Nigerian Newssphere.

Yusuf said the key elements of the review are trends in our exchange rate, inflation, GDP debt profile and fiscal operations of government. The exchange rate depreciated significantly in the parallel market to over N600/dollar.

In his explanation, Dr Muda stated that in June inflation rose to 18.7 per cent due to “Exchange rate depreciation;  high energy cost; increasing financing of deficit by the Central Bank of Nigeria; problem of insecurity which is affecting Agricultural production and high cost of logistics.”

He disclosed that, “Investors across sectors in the economy are concerned about the high and increasing energy costs especially the cost of diesel which has gone up by over 300%, the cost of aviation fuel which has gone up by another 300%, the cost of gas which has increased by over 100%. The cost of PMS is still moderately tolerable because of the subsidy regime that is still currently being provided by government.

“Many businesses have suffered serious dislocations as a consequence of foreign exchange liquidity challenges, volatility and the depreciation of the currency. These have severely affected businesses across all sectors of the economy. Costs of operation and production have gone up from between 30-100% as a result of the exchange rate crisis in Nigeria.

Yusuf further stated that the “worsening insecurity in Nigeria is a major problem for investors in the economy. Many Industrialists especially those who are in the agro-allied sector are grappling with challenges getting raw materials from the crop producing areas of our country. This has continued to negatively impact capacity utilization, turnover, cost of production and the value delivery to shareholders. Some now source raw materials from neighbouring West African countries”.

 

 

Orange telecom vows to explore Nigeria’s market

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Orange Telecom Group, has vowed to play a big part in Africa’s biggest service space, in diversified areas including mobile, data, fixed and financial technology support services.

Six-member team of Orange Middle East and Africa, led by Mrs. Victoria Adefala, who delivered this message to the Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Garba Danbatta during a business visit to his office in Abuja at the weekend, said the group is fully determined to do all it takes to get a slice of the Nigerian market.

“We are here to ensure steady investment for a long term. We also want to support the vision of the Commission in driving broadband penetration for a robust digital economy and leverage on local content development initiatives,” she said.

The delegation including Orange’s Africa Director of Regulatory Affairs, Mr. Jean Chalhoub, sought clarifications on several regulatory and policy issues that will engender the company’s speedy entry into the country.

Adefala said Nigeria is missing in Orange Group’s portfolio of combined network of over 140 million subscribers across 18 countries of its operations. “The large market potentials buoyed by the huge population, impressive Gross Domestic product (GDP) figure, proximity to our operations in the neighbouring African countries, as well as the appreciable friendly operating environment are great motivators for our expansion plan into the Nigerian telecom market”.

NCC’s chief, Danbatta who welcomed the Group’s quest to invest in Nigeria, reassured the delegation of a robust policy and regulatory environment that provides quality enabling environment, has the full support of the Federal Government, as evidenced in the contents of such instruments like the Executive Order 001 on the promotion of transparency and efficiency in the business, the Presidential Enabling Business Environment Council (PEBEC), and the Federal Government’s Economy Recovery and Growth Plan (ERGP) with ample provisions to protect investors.

He said the Commission has also taken several other regulatory steps aimed at improving the operational environment such as the ongoing collaboration with Nigerian Governor’s Forum (NGF) to reduce RoW charges on telecom infrastructure deployments; signed Memorandum of Understanding (MoUs) with various government and institutional stakeholders across the country;  developed guidelines and regulations to promote colocation of infrastructure, upheld a fair competitive operating environment, among among others.

“We welcome more investments into the Nigerian telecom sector. We have enabling laws and regulations that help us to engender a highly competitive telecom market that benefits both the service providers and the consumers.

NCC is here to ensure we support our licensees to thrive while also ensuring that they comply with Quality of Service (QoS) Key Performance Indicators (KPIs) set by the Commission because Nigerians will patronise an operator that provides them with affordable services at highest quality,” he said.

Danbatta who hosted the delegation with the two Executive Commissioners of the Commission, Engr. Ubale Maska (Technical Standards) and Mr. Adeleke Adewolu (Stakeholder Management) and some directors, said the successful auction of the 5G spectrum is a clear indication of investor confidence in the country, and that investment opportunities are available in voice, data, upstream and downstream of the sectors with certainty on investment returns.

For more than 30days now NAFDAC remains shut down over workers’ strike

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For more than 31 days now, Nigeria’s apex food regulatory agency, National Agency for Food and Drug Administration and Control(NAFDAC) has remained shut down over staff’s welfare strike.

This implies that the agency have been unable to carry out its mandate of controlling and ascertaining the safety and wholesomeness of food imported through the seaports, airports and land borders.

Expert and Economic analyst, CEO, Centre for the Promotion of Private Enterprise(CPPE), Dr Muda Yusuf in a chat with Nigerian Newssphere on the development on Sunday said this poses danger to public health of Nigerians and disruptive of economic activities that require approvals and certification by NAFDAC.

According to him, “The development is quite worrisome. It increases the vulnerability of the country to importation and production of fake and substandard drugs and food products.

“This has very dire consequences for the health of the citizens. It is also very disruptive of economic activities that require approvals and certification by NAFDAC.

“We should appeal very strongly to the government to urgently intervene to bring an end to the industrial action. NAFDAC is a very strategic institution and we should not allow this situation to continue”, he stated.

Recall that on Wednesday, 22nd June, 2022, workers under the aegis, Members of the Medical and Health Workers Union of Nigeria(MHWUN) embarked on a strike to press home major demands bordering on welfare.

Earlier the union’s Secretary, Mr Ayodeji Adetoboye, disclosed that the union had proceeded on an indefinite strike action until all its demands are met after an emergency meeting with the Federal Area Council, Lagos and NAFDAC Branch of MHWUN.

According to him, some of the demands, are that ‘‘The congress frowned at the prolonged inaction on the payment of promotion arrears for 2018, 2019, 2020 and 2021; the congress agreed that action is long overdue as all measures to resolve the matter has not received management cooperation.

“The issue of additional allowances was discussed and the members of congress rejected the continued delay in the approval by National Salaries Income and Wages Commission. It was noted that since the reduction of NAFDAC salary in year 2013 all efforts to resolve the issue to ameliorate the suffering of staff members have ended on the table of NSIWC.

“The congress raised concerns on the issue of GMP inspection and GMP training that has been hijacked by some microscopic few. Members of congress were unanimous in rebuking management on the delay of the severance allowance and call for an immediate action to save these poor retirees.

“The congress frowned at the recent reversal of the skipping by management as evident in the invitation for promotion during the last promotion exercise. The congress demands immediate reversal to status quo.”

Meanwhile, contrary to NAFDAC Resident Media Consultant, Sayo Akintola comment that the strike would be short-lived, however the strike has lasted for a month now at the detriment of Nigeria’s food safety.

He earlier stated, “NAFDAC does not owe salary. To the best of my knowledge, as part of what they are demanding as of the last time this issue came up, was allowances, so it’s not salary.

“I can’t really say why it has not been paid but you know in an organisation as big as NAFDAC, there is usually a process so probably there is a process it has to go through but I know the last time the issue came up, they actually paid everything and that was why the whole thing died down then and they continued with negotiation with some other issues,” he said.

Newssphere gathered that efforts to end the strike by the DG NAFDAC, Prof Mojisola Adeyeye and the Permanent Secretary Ministry of Health, Mahmuda Mamman was unproductive.

BBNaija 7: Biggie introduces 12 new Housemates

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Today, Biggie has introduced additional 12 Housemates to make it 24 on Season 7 of Big Brother Naija (BBNaija) Show 2022.

The current edition tagged Level UP kicked off on Saturday, with 12 housemates introduced.

Ebuka Obi-Uchendu, the host, introduced the remaining 12 on Sunday.

Below are the additional Housemates:
1. Allysyn
2. Adekunle
3. Doyin
4. Dotun
5. Eloswag
6. Bella
7. Chomzy
8. Diana
9. Giddyfia
10. Shegzy
11. Hermes
12. Chichi

Wike threatens to expose the truth about PDP

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It seems that all is not yet over as the Rivers State Governor, Nyesom Wike, on Saturday, broke silence on the internal crisis in the Peoples Democratic Party following the party’s presidential primaries and subsequent selection of its vice presidential candidate.

Wike who tweeted via his official Twitter handle @GovWike noted that he would soon speak on recent happenings in the party.

“I will speak soon and Nigerians will know the actual truth of all that has transpired in the PDP in recent times,” the Rivers governor said.

The PDP’s presidential candidate, Atiku Abubakar, chose the Delta State Governor, Ifeanyi Okowa, as his running ahead of Wike whom many party chieftains had believed would emerge as the PDP’s vice-presidential candidate.

Those who opposed Atiku’s choice include the Benue State Governor, Samuel Ortom. The governor, had on June 29, 2022, during an interview on Arise TV, said Wike, and others who backed the Rivers governor for the PDP vice-presidential ticket slot deserved a detailed explanation from the party’s presidential candidate on his choice of running mate.

Ortom said it was surprising that Atiku could jettison the recommendation of 14 out of 17 members of the committee that recommended Wike as his running mate.

I am waiting for him (Atiku) because there are more things he is expected to do. I expected him to reach out to Wike who came second and he denied him the popular view of PDP members.

“14 out of 17 members say that Wike should be the VP but in his wisdom, he chose Governor Okowa. Governor Okowa is a nice man and my friend and I have no problem with him.

“But if we are in a democratic era, and 14 people out of 17 said that it should be Wike, and he (Atiku) in his wisdom gave it to Okowa, I expect more explanation, I expect him to talk to Wike first, I expect him to even reach out to some of us so that together we can work as a party,” Ortom said.

 

BBNaija season 7 kicks off with 12 Housemates

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Big Brother Naija reality TV show season 7, tagged ‘Level Up’ has commenced with 12 Housemates

On Saturday, the Host Ebuka Uchedu unveiled the programme with it electrifying viewweship.

During the live launch, the first set of housemates were introduced to the show.
Six male and six female contestants made their way to the house, marking the start of a new journey to fame for them.

Groovy

Henry Olisa, popularly known as Groovy, is from Anambra State.

Beauty

Beauty Tukura hails from Taraba State and is the 2021 Miss Nigeria.

Khalid

Khalid Ismail is 22 years old. According to him, he’s single and not searching.

Ilebaye
Ilebaye hails from Kogi State and has stated that fans should not expect her to be in any relationship on the show.

Cyph

Bright Erekete, also known as Cyph, is a tech bro who doesn’t believe in love at first sight

K

She calls herself Nigerian Nicki Minaj. Amaka adds that she’s perfectly single, “single to the last letter of the word”.

Kess
He’s a 28-year-old married man who said his wife approves of him having fun.

Daniella Peters
Daniella Peters is a 22-year-old twins and poet
from Cross River State.

PharmSavi
Saviour Akpan is from Akwa Ibom State. PharmSavi said he’s super confident and a gentleman with an amazing sense of humour. He doesn’t believe in love at first. He describes himself as a pharmacist and a low-key entertainer.

Phyna
Phyna is short for Josephina. She’s from Edo State.

Bryann

Brian, a budding music producer, is from Imo State.

Christy O

Christy is from Ondo State.

The premiere night also featured electrifying performances from Asake and Victony, who thrilled the live audience and fans.

This year’s winner will be walking home with a N100m grand prize— a cash prize of N50m and N50m worth of prizes from the sponsors. In addition, 30 fans of the show will win N1m each in the ‘Fave Lock-In’ promo exclusive to DStv and GOtv customers.

The show will retain its voting style from last year, as it (voting) will only be on the Big Brother Naija website, mobile site, and the MyDStv and MyGOtv apps for active customers.

 

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