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Ikpeazu diverted N10bn airport fund into road construction – Abia PDP

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Vice Chairman and acting Publicity Secretary of the Peoples Democratic Party in Abia State, Abraham Amah, talks to DANIEL AYANTOYE about the aborted airport project, among other issues

In a recent statement, you disowned the comment of the former speakers of the state House of Assembly on the performance of the state Governor, Alex Otti. Does it mean that they did not speak the mind of your political party, the PDP?

In that statement, we made it very clear that as members of the Association of Former Speakers, have the right to pay a visit to the state governor. It’s part of their fundamental rights. There is no law against that. And for those of them who are members of the PDP, there is no law also in the party against that. So, they have the right to go to where they have gone. Whatever they had said, they also said on behalf of themselves and not on behalf of the party. Another very important thing to note is that the membership of that association cuts across several political parties in the state.

But is it not anti-party for PDP members in the group to visit and commend the governor in such a way that could portray an endorsement of the Labour Party government in the state?

The truth about it is that some politicians put their interests first before anything else. The major purpose of that visit was to engage the governor for him to consider the need to pay them a kind of pension every month as former members of the state House of Assembly because there was a subsisting law before, which took care of the interests of the former governors but did not take care of the interests of former speakers.

Also, because judiciary leaders get something when they leave office, they (former speakers) go to canvass for that. But unknown to them, the governor was already planning to abrogate the law that favours the former governors through the act of the State Assembly. When you lobby as a politician, you tell the person you are lobbying something that will make him happy, to be able to grant you what you want. That was exactly the card they played.

Unfortunately for them, the card was not able to attract anything. The situation is just that the public was not looking at it from the angle that they were former members of the State House of Assembly who visited the governor but from the angle of the PDP and that is the narrative most media houses were promoting.

How will you describe the request they presented to the governor? Is it justifiable or not?

There is no basis for me to say it’s justifiable or not. As I said, no law allows for such expenditure, as far as the state is concerned. What they should have done was to take that lobby to the state House of Assembly, and not to the governor. They should have lobbied the Speaker of the state House of Assembly and members and then sponsored a bill. That is the appropriate thing for them to have done. When they sponsor that bill and it is passed through first, second, and third reading, and then move it to the governor for assent, it is at about that time they can visit the governor to tender the request.

Does that mean they goofed in their tactics despite being former lawmakers?

Of course, they did.

The former lawmakers praised the governor’s performance in the state while endorsing his administration. Do you agree with their appraisal?

Unfortunately, he is less than one year but in the next couple of weeks, he will be one year in office. The only way to talk about performance is to look at what he has been able to receive from the Federation Account, what he has been able to generate through the internally generated revenue vis-à-vis the expenditure, and then we match this expenditure with what is visible on the ground. If we follow this format, I can assure you that many Abia people, today, think that the governor has not done well.

The governor (Otti) spends a lot of money on media and propaganda, and to a very large extent, he is enjoying the dividends of that propaganda, but such dividends can only last for a while. Let me just run down what was captured from the websites of the state government. In less than one year, the governor has spent N11.4bn to run the Governor’s Office, and as we speak, the governor operates from his private home. The fundamental question here is why a governor spends N11.4bn to run a Governor’s Office in his home. What is it that you are running in that home? I think we are in the 11th month; so, you are spending a little bit about over N1bn every month to run the Governor’s Office from your home. The governor has also spent N32.3bn on roads. The truth is that Abia people are asking, where are the roads?

Don’t you think that a government that can provide information about its expenditures and its income on its websites is transparent and can also be described as a performer?

That website was put in place by the former administration as a requirement of the World Bank for all the states in Nigeria. That is why they cannot shut it down. The first time their publications on that website were captured by the media, that website was shut down. But when there was a lot of pressure from the World Bank, It had to come up again. The website enables the World Bank to monitor the activities of the state government because of what they are doing in the various states across the country. So, it is not as if the state government put up the site on purpose. All the state governments have these websites for the purpose I mentioned.

There have been several reports of people applauding the performance of the governor, saying he is performing well in this state. Why is this so?

Let me analyse one of those major performance indicators they boast of. During a lecture at Johns Hopkins University, recently, the governor told the world that he met 10 years of unpaid pension arrears and that he had cleared these arrears. Everybody clapped for him. If you search on Google, you will also find out that several mainstream media have also reported on the clearance of 10 years of pension arrears in Abia State, whereas what was paid as pension arrears in Abia State was pension for nine months and not 10 years as he claimed.

The problem is that a lot of people don’t know how to verify these things. There is also a video that is trending about him building a seaport in Abia State. That is what an average Igbo man wants to hear. Most of these claims, with the support of artificial intelligence, we have people who can package them together and when they watch it, they believe that something like that is going whereas there is no stone laying or foundation or inauguration of any building or any seaport anywhere in the state.

Even as we speak, there is no document presented to the federal authorities saddled with the responsibility of approving a seaport much less of anybody building anything. We have this type of misinformation circulating everywhere. The people have bought into this information. They believe that these things are true. They don’t know that they are not true. So, today, the pensioners in Abia State are saying, ‘You cannot do this to us.’

Reach out to the pensioners and ask them, ‘How many months’ pension has been paid?’ If you look at the money they allocated for pension, in these documents, you’ll find out that it’s around N1bn. You will agree with me that the amount cannot be pension for 10 years. It’s under one-year pension arrears. He creates this narrative and pushes them.

How is this possible that?

When we talk about marketing, the banks in Nigeria, particularly the new-generation banks, came with innovation in marketing. The kind of innovation we have never seen before. When you talk about advertisements and those who pay the biggest money for advertisements, for radio and television, it’s Nigerian banks. So, he (Otti) brought that kind of innovation of marketing to governance.

Recently, the governor revealed that the previous government under PDP’s Okezie Ikpeazu spent billions of naira on a non-existing airport which was discovered through an audit report. How did this happen?

To conduct an audit requires by law that the auditor, as a matter of necessity, or compulsion, must engage the person or institution to be audited. That is, those who operate the business he is auditing, and ask them questions. That was why, when President Bola Tinubu’s administration appointed an auditor to do a forensic audit for the Central Bank of Nigeria, they had to go to where Emefele was detained, brought him out, and asked questions. You cannot do an audit without asking. So, you cannot conduct an audit without asking questions to the auditee.

Secondly, you accused a company of receiving N10bn, according to your report, but today, that same construction company remains your number one construction company. If you want to conduct an investigation, the first suspect is a person who received the money into his accounts because to receive the money into your accounts, you must deliver the services for which that money was meant.

So, was the money paid for the airport, and where is the airport?

The documents are available everywhere. Those who served in the government and others made those documents available. What happened was that when that N10bn loan was approved for the airports, members of Abia State Council of Chiefs; that is the traditional rulers, approached the governor and told him that from Aba to Port Harcourt was a maximum of one one-hour drive, from Umuahia to Uyo was one hour, from Umuahia to Owerri Airport was 45 minutes, and that we were like a state surrounded by three major airports and that what we needed at that moment was the construction of more roads because we had a lot of bad roads.

Based on that, the governor approached the House of Assembly and told them to do the necessary approval for that money which had been paid to the construction company that was already handling several road projects in Abia State to capture same for further jobs about road construction. The good thing is that the construction company is not a ghost, and the governor is still using them for projects to date. The governor does not mention the company, but the former governor, Ikpeazu.

I had expected the construction company as a responsible organised firm to issue a statement and tell the world about what they know and what they do not know about the N10bn, because as far as the law is concerned and as far as the best of investigators are concerned, the only body that can implicate the former government is the construction company, and the only way they can do that is to prove that they transmitted some of those monies back to Ikpeazu, and that will not make them free.

To the best of your knowledge, was the money channelled to road projects in the state, or was transmitted back to the state government?

It was used for the construction of roads in the states, and as we have said and I speak again today, there is no statement from the company itself.

Some have perceived the visit of the lawmakers to Governor Otti as an attempt to defect to the Labour Party. Is your party not concerned about this development?

I joined politics in the ‘90s as a young man; I contested my first election under the (United Nigeria Congress Party) UNCP on December 6, 1997. I won that election into the state House of Assembly. It has been the tradition of Nigerian politicians to defect, and each time a person defects, it creates room for other people to join. As I speak to you, prominent individuals are reaching out to the party that they want to join the PDP.

Many of those defecting are doing that for personal interest. They know better why they are doing what they are doing. As far as we are concerned, they have not also violated any known law, and our party is open to people. So, for us, it is a season of shedding leaves, and some of these leaves, I can assure you that many of those leaves will turn out to become manure for the same tree they fell from. So, do not be surprised that many of the people who are leaving the party (the PDP) today will still come back to the party to work for the party tomorrow. We have seen that happen on several occasions.

It was said that the division in your party led to the loss of the 2023 presidential election. Do you think there will be any difference in 2027?

Well, 2027 is still pregnant. I don’t want to dwell on that because I am a human being, a Christian, and an Elder in the Church. A lot of people will even die before that time. Sometimes when men talk, they don’t remember that people die. That I am alive now is all by the grace of God. So, I don’t know what will happen in the next minute or seconds from now. A lot of things will still happen between 2023 and 2027. So, don’t let us talk about that. What is on the ground now is that the party is preparing for the congress.

Of course, one thing that is always certain is that political parties adopt strategies ahead of the elections. Do you see the Minister of the Federal Capital Territory, Nyesom Wike, working for the PDP in 2027?

This is not the first time that a President appointed a member of another political party and we have seen it happen several in the history of this country. It happened in the First Republic. It also happened in the Second Republic during (Shehu) Shagari’s administration where some members of the Nigerian Peoples Party were given appointments by the then government. In the Third Republic, we saw it happen when Obasanjo himself did the same and they said the action was under the framework of Government of National Unity.

 

Interview

Kogi Governor Ododo Allegedly Spends N400million To Build ‘Intruders Gate’, Another N439million To Produce Staff Of Office For Chiefs

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About N400million was spent by the Governor Usman Ododo’s administration in Kogi State for the construction of what was tagged “Intruders gate”, a copy of the 2024 state budget performance report obtained by SaharaReporters has revealed.

An intruders gate, also known as a security gate or anti-climb gate, is a type of gate designed to prevent unauthorised access to a property, building, or restricted area.

The primary purpose of such gate is to provide an additional layer of security and protection against potential intruders.

The budget document seen by SaharaReporters showed that the Governor Ododo-led government had in the last 9 months spent N398,817,976.33 on “intruders gate instead of the N100,00,000 appropriated and approved in the 2024 budget by the Kogi State House of Assembly.

This suggested that N298,817,976.33 was allegedly illegally spent above the budget ceiling on such gate.

However, where the gate was mounted by the government wasn’t disclosed in the document.

A further check on the report revealed that N439,500,000.00 has so far been spent in 2024 for the “production of customised staff of office for graded chiefs” in the state.

These spendings are coming at a time when residents of the state like other Nigerians are going through a spike in cost of living, hardship and hunger.

Earlier, SaharaReporters reported how the Ododo-led government spent N2.9billion for the Government House minor capital works and remodelling government house between January and September 2024.

The review showed that while the state budgeted N100 million for government house minor capital works, it has ended up spending N784 million within nine months.

Also while the government budgeted N962million for remodeling government house structure, it has spent N2.2 billion within nine months.

The review further showed that based on the details published by the state government, it has continued to overshoot budgetary allocations.

For instance, N50million was budgeted for renovation of Speakers’, honourable members residential quarters, within nine months however N58.7 million was spent.

Renovation of honourable speaker and deputy speakers lodge stood at a budgeted amount of N50 million , however N52 million was spent within nine months.

Maintenance of the Secretary to the State Government’s official residence and landscaping stood at a budget of N10million, however within nine months N13.8million was spent.

Construction of Mosque and Chapel in the government house was budgeted at N25 million, however the state spent N86.4 million within nine months.

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Audit report reveals CBN’s non-disclosure of $40.23bn in reserves, policy violations under Emefiele’s tenure

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The Central Bank of Nigeria (CBN) failed to disclose details of the nation’s external reserves, valued at $40.23 billion, in its 2021 financial year report, as stated in the latest findings from the Office of the Auditor General of the Federation.

The 2021 audit report, released in December 2024, further exposed violations of internal policies on dollar time deposits by the CBN under the leadership of Godwin Emefiele.

Emefiele, whose tenure as CBN governor ended in June 2023, is currently facing charges by the Economic and Financial Crimes Commission (EFCC) at the High Court of the Federal Capital Territory, Abuja.

The EFCC accuses him of obtaining $6.2 million under false pretenses, using a forged letter purportedly from the Secretary to the Government of the Federation dated January 26, 2023.

The letter allegedly requested a contingent logistics advance from the CBN, which Emefiele falsely claimed was authorized by the president.

The audit also scrutinized the CBN’s adherence to its revised Investment Policy, raising additional concerns about financial management during the period under review.

“For the year 2021 financial year, the Bank failed to publish the position amounting to US$40,230,803,228.80 of the country’s external reserves to the public,” the report stated.

The report further noted that there was no waiver or new policy introduced during the period that could explain the non-disclosure of the external reserves.

It attributed the failure to weaknesses in the internal control systems at the Central Bank of Nigeria (CBN).

The report also pointed out that this lack of transparency violated Article 15(v) of the CBN’s revised Investment Policy, which mandates the Bank to define the content, form, and frequency of reports on external reserves to ensure transparency.

The Auditor General expressed concerns about the significant risks associated with this breach, including a lack of accountability, diminished transparency, and potential harm to Nigeria’s economic credibility.

The report cautioned that foreign investors are not sufficiently informed about the country’s economic status, which could undermine investor confidence.

In response to the audit query, the management of the Central Bank of Nigeria (CBN) stated that “information on the external reserves position is available to members of the public on the Bank’s website under the Reserve Management tab.”

The report also mentioned that the Central Bank’s Monetary Policy Committee (MPC), which convenes every two months, provides updates on the reserves.

However, the Auditor General’s assessment concluded that the bank’s response did not effectively address the fundamental issue at hand.

“The response from the Management failed to address the issue raised,” the report said, maintaining that its findings remain valid.

The Auditor General’s report recommended that the CBN governor be summoned before the National Assembly’s Public Accounts Committees to explain the failure to publish the reserves.

It also called for potential sanctions under the Financial Regulations Act of 2009, citing serious misconduct.

Additionally, the report suggested that “sanctions relating to gross misconduct prescribed in paragraph 3129 of the Financial Regulations 2009, should apply.”

The audit also uncovered a violation of the Central Bank of Nigeria’s (CBN) Money Market Policy, in addition to the non-publication of reserves figures. It revealed that a $26.05 million dollar time deposit exceeded the mandated maximum maturity period of three months, rolling over for five months without the required waivers.

This deposit, made on October 21, 2021, matured on March 21, 2022, in direct contravention of internal policies designed to manage liquidity and credit risks.

The Auditor-General attributed this breach to weaknesses in the CBN’s internal control systems.

In its defense, the central bank argued that its policies allow for extensions of up to one year for specific transactions, asserting that the dollar deposit was in compliance with these provisions.

However, the Auditor-General rejected this explanation, pointing to insufficient evidence to support the bank’s claims.

The report recommended that the CBN governor appear before the Public Accounts Committees of the National Assembly to justify both the failure to publish reserves and the extension of the dollar deposit’s maturity.

Additionally, it called for sanctions against the CBN under the Financial Regulations Act of 2009 for gross misconduct.

“The CBN Governor should be requested to: Furnish the Public Accounts Committees of the National Assembly with the evidence of approval to extend the maximum maturity period of US$26,051,039.29 deposit of the CBN for five months instead of three months, and Otherwise, sanctions relating to gross misconduct prescribed in paragraph 3129 of the Financial Regulations 2009, should apply,” it said.

The Street Journal!

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Global Footprint: Zenith Bank Expands Frontier With Official Opening Of Paris Branch….

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Zenith Bank Plc has expanded its global footprints with the opening of Zenith Bank (UK), Paris branch. The official commissioning, which took place on Wednesday, 27 November, 2024 at 21 Rue de la paix, Paris, France, was performed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

The opening of Zenith Bank, Paris, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the European region.

Dignitaries at the ceremony include the Governor of Kwara State who is also Chairman, Nigeria Governors’ Forum (NGF), AbdulRahman AbdulRazaq. Other governors present were Babajide Sanwo-olu of Lagos State, Adedapo Abiodun (Ogun) and Peter Mbah (Enugu).

Other dignitaries in attendance included the Chairman, BUA Group, Abdul Samad Rabiu; Minister of State for Finance, Doris Uzoka-Anite; Chief Executive Officer/Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Aisha Rimi and Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC) Nonye Ayeni. They all joined Zenith Bank executives in celebrating the significant milestone. The event highlighted the bank’s commitment to delivering exceptional financial solutions and fostering economic growth across the globe.

In her welcome address, the Group Managing Director/Chief Executive of Zenith Bank, Adaora Umeoji, thanked the Founder & Chairman of the bank, Jim ovia, for his inspiration and vision in setting up an award-winning and record-breaking brand. She also highlighted the rationale for the bank’s strategic move to Paris.

According to her, “The opening of this Paris branch is part of the broad strategy of the Bank to extend its footprints across the major global financial centres and our efforts at following our customers’ businesses.

“Paris branch opening underpins the need to serve our customers and bolster trade and finance relationship between our customers in France and other countries. Zenith Bank’s expansion into France is a very strategic move as Nigeria accounts for 20% of France’s trade with Sub-saharan Africa according to the Franco-Nigeria Chamber of Commerce and Industry (FNCCI).

“Having successfully dominated large parts of Anglophone Africa, we will leverage Zenith Bank Paris operations to lead the Francophone market starting from Ivory Coast and Cameroun where we will be establishing subsidiaries very soon. This will facilitate business and trade flows between the African region and France, which is a major business partner to several African countries.”

Speaking at the ceremony, the Minister of Finance and Coordinating Minister of the Economy, Mr Edun, said, “I feel that one of the dividends of building trust for Nigerian institutions around the world is this event today, the opening of Zenith Bank in Paris. The presence of Zenith here can only but help to engender trust of the French business community. They can learn about the opportunities in Africa, and of course, the entry into Nigeria can be facilitatedWe are happy and we are glad that we are all here to participate in this historic occasion.”

President and Chief Executive of Dangote Group, Aliko Dangote, congratulated the bank for the milestone achievement. Expressing his optimism for this strategic initiative, he said, “I really want to congratulate Zenith Bank for achieving this feat by opening a branch here in Paris. I can guarantee you, without the likes of Zenith Bank and other Nigerian banks, we as a group, wouldn’t have been where we are today because there is no country that can grow without a very strong banking sector.”

Director General of the Treasury, France, Bertrand Dumont, commented, “This is a crucial asset when it comes to doing business between our two countries, or when it comes to doing business between our two continents. So, I would like to wish you the best in this endeavor, in this creation, and I hope that in the coming months or the coming year, you will invite me again for the integration of larger buildings as a sign of the success that you would have encountered.”

The Chairman, France-Nigeria Business Council (FNBC), Aigboje Aig-Imoukhuede, in his remark said, “15 years ago, Dr Jim Ovia, then as the CEO of Zenith Bank welcomed me as CEO Access Bank into the UK to join him and other banks that had blazed the trail in opening banking businesses in the UK. 15 years later, to the glory of God, your young brother in banking welcomes you to Paris with pride on the significance of this occasion. Such intentional leadership, such partnership and collaboration speaks to the nature of endeavor that we at the France-Nigeria Business Council are trying to drive. So, on behalf of the French people, I simply say to Zenith – Bonne Arrivee!”

The opening of Zenith Bank, Paris followed the granting of the final approval by France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024, allowing the branch to commence operations. Earlier in November 2023, Zenith Bank strengthened ties with France by signing a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary in France.

The MoU was signed in Lagos by the Founder and Chairman of Zenith Bank Plc, Jim Ovia, and the French Minister for Trade, Attractiveness and French Nationals Abroad, Mr Olivier Becht during the French envoy’s visit to Nigeria.

Zenith Bank, Paris is positioned as a global financial hub for strengthening trade, accelerating trade flows and facilitating connectivity between Europe and Africa. The branch will provide a wide range of services currently being offered by the UK home-office including corporate banking, trade finance and treasury services to individuals and corporate clients in France and the wider European market. The branch will also leverage the bank’s strong global network and expertise to provide tailored solutions to its clients.

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