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Oyo Governor Splashes Millions Of Naira On Cars For Party Leaders Amidst Plot To Impeach His Deputy

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Makinde, on Monday presented an exit gift and a welcome gift of two brand new Toyota Land Cruiser Jeeps to the outgone chairman of the Oyo State PDP in the state

 

Governor Seyi Makinde of Oyo State amid a plot to remove his deputy, Rauf Olaniyan, on Monday presented two vehicles worth millions of naira to the immediate past chairman of the Peoples Democratic Party in the state, Alhaji Omokunmi Mustapha, and his successor, Dayo Ogungbenro.

According to a statement released by the governor’s Chief Press Secretary, Taiwo Adisa, the vehicles, both Toyota Land Cruiser SUVs, were presented as an exit gift and a welcome gift to Mustapha and Ogungbenro at the Government House, Agodi, Ibadan.

“Oyo State Governor, Seyi Makinde, on Monday presented an exit gift and a welcome gift of two brand new Toyota Land Cruiser Jeeps to the outgone chairman of the Oyo State PDP in the state, Alhaji Omokunmi Mustapha, and the newly-elected PDP chairman, Dayo Ogungbenro, respectively.

“The chairman, Oyo State Advisory Council, Senator Hosea Agboola, who made the presentation at the Government House, Agodi, Ibadan, on behalf of the governor, charged the duo to work together for the success of the PDP.

“Agboola described the governor as a kind-hearted man who cares for the party and the masses in the state. He also used the occasion to urge other governors in the country to emulate the uniqueness of Governor Makinde.

“He also called on Mustapha and Ogungbenro to collaborate for the progress of the party, adding that the gesture from the governor is commendable and unprecedented in the history of the state.

“In their various reactions, the duo of Hon. Ogungbenro and Alhaji Mustapha thanked Governor Makinde for his magnanimity. The duo promised to remain focused and to protect the party from the threat of external forces.”

There are, however, concerns about the governor’s lavish spending as the source of money used to purchase the vehicles remained questionable.

A civil servant, who asked not to be named, described Makinde’s action as a “misplacement of priority.”

The donation comes a few hours after SaharaReporters exclusively reported plot to impeach the state Deputy Governor by the PDP/dominated State House of Assembly.

 

Olaniyan would soon be impeached by the lawmakers, a source privy to the move had said.

Just last weekend, a petrol station and bakery belonging to the Deputy Governor were vandalised in Ibadan.

There were suspicions in some quarters that the Chairman of the Motor Park Management System in the state, Lamidi Mukaila, popularly called Auxiliary was behind the vandalism.

The vandalised petrol station and bakery are managed by the wife of the Deputy Governor, Prof. Amdalat Olaniyan.

Before then, thugs had, twice on the same day, unleashed terror on aggrieved PDP members who had converged for a parallel congress at Jogor Event Centre, Ibadan.

Though this is not the first time, previous impeachment attempts have been thwarted by the lawmakers who feel Olaniyan has been good to them, a source in the state House of Assembly said.

To make it work this time around, all members have been scheduled to travel to Ghana, a neighbouring West African country.

SaharaReporters gathered that the trip was coordinated by Makinde’s closest ally, 48-year old Seye Famojuro, who hails from Osun and lives in Ibadan.

In Ghana, they will be joined by Makinde who would introduce to them, the need for the impeachment process.

The chairman of the Oyo State House of Assembly Service Commission, Musah AbdulWasii, who is also the immediate past Deputy Speaker of the State House of Assembly, has been pencilled down as a replacement.

Though he contested and lost the last election on the platform of the African Democratic Congress (ADC), he is now in PDP and revers Hosea Agboola, a former Senator popularly called Alleluyah as his leader instead of Monsurat Sunmonu, a former Senator and his former leader in the African Democratic Congress (ADC).

Musah’s preference of Alleluyah to Sunmonu is not far-fetched as the former is closer to Makinde than the latter.

Though both Makinde and Olaniyan are engineers, sources told SaharaReporters that it has been rough since the beginning of the administration.

“In a bid to win the 2019 governorship poll, many people had suggested the names of Engr. Raufu Olaniyan to Engr. Seyi Makinde. Olaniyan was then a governorship aspirant on the platform of the ADC. He hails from Igboho, one of the numerous towns in Okeogun, the second-largest geo-political zone in Oyo State, after Ibadan, the state capital. Parts of the reasons why Makinde considered him was because of his experience as a former top civil servant,” a source told SaharaReporters.

“He was permanent secretary of the Oyo State Road Maintenance Agency (OYSTROMA). Secondly, he is acceptable to the Muslim population beyond Okeogun. And he has a deep pocket, though he doesn’t flaunt it. He is also close to former governor Rashidi Ladoja. All these were what Makinde considered.

“But Olaniyan’s acceptance was at a great cost. His closeness to the former and incumbent governors of Osun, Rauf Aregbesola and Gboyega Oyetola and Kaduna State governor, Nasir El-Rufai, all of the All Progressives Congress (APC) was almost ruined. They didn’t ‘bless’ the move. He accepted it and worked tirelessly to ensure PDP wins. Meanwhile, Makinde promised to, unlike his immediate predecessor, make use of his deputy governor if they won.

“Governor Makinde initially wanted to fulfil his promise but was soon misled by the likes of Alleluyah and co. Initially, Makinde conceded Olaniyan’s Oorelope local government area to him. Alleluyah and Olaniyan are both from Okeogun and he feels threatened by the emergence of Olaniyan.

“Soon, the governor started ignoring his deputy. In a clear show of hatred, the governor awarded the renovation of the deputy governor’s lodge and till date, it is still at the plastering stage. It is by the road and everyone can see it. So, the deputy governor makes use of his house. When critical issues are to be decided, he prefers to use his chief of staff, secretary to the state government or any other trusted ally. In fact, the deputy governor has been reduced to nothing.”

 

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EFCC indicts Sirika, brother in new N19bn fraud

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The Economic and Financial Crimes Commission has charged former Minister of Aviation, Hadi Sirika, his brother, Ahmad Sirika; and his company – Enginos Nigeria Limited, with over N19.4bn fraud.

The sum is said to be for several aviation ministry contracts from the former minister to Enginos Nigeria Limited, owned by Sirika’s younger brother, Abubakar.

The Sirika brothers and Enginos Nigeria Limited will be arraigned before Justice Belgore of the Federal Capital Territory High Court, Garki, Abuja today (Tuesday).

It is the second criminal charge the EFCC will be filing against the ex-aviation minister.

He was last Thursday arraigned for N2.7bn fraud before the High Court of the Federal Capital Territory in Abuja.

Sirika was arraigned on six counts alongside his daughter, Fatimah; brother-in-law, Jalal Hamma, and Al-Buraq Investment Ltd.

The defendants pleaded not guilty while Justice Sylvanus Oriji granted them N100m bail each, with the condition that they must not travel out of the country until the end of the criminal case.

On Monday, EFCC insiders informed The PUNCH that the anti-graft agency had filed a second charge against the ex-minister, bordering on N19.4bn fraud.

In the copy of the fresh charges sighted by our correspondent on Monday, the EFCC alleged that Sirika, “while being the Minister of Aviation, on or about 18th August 2022, in Abuja, within the jurisdiction of this honourable court, did use your position to confer an unfair advantage upon Enginos Nigeria Limited, whose alter ego, Ahmad Abubakar Sirika, is your biological brother, by using your position to influence the award to him, the contract for the construction of a terminal building at Katsina Airport for the sum of N1,345,586,500.00.”

According to the EFCC, Sirika’s alleged action was a violation of Section 19 of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under the same section.

In another count, the EFCC alleged that “on or about 3rd of November, 2022, in Abuja,” Sirika used his position “to confer unfair advantage upon Enginos Nigeria Limited, whose alter ego, Ahmad Abubakar Sirika, is your biological brother, by using your position to influence the award to him, the contract for the establishment of Fire Truck Maintenance and Refurbishment Centre at Katsina Airport for the sum of N3,811,497,685.00.”

In another count, he was accused of corruptly awarding a N615,195,275.00 contract to his brother for the procurement and installation of lift and air conditioners and power generators for the Aviation House in Abuja.

Furthermore, the EFCC alleged that Sirika, between August 2022 and May 2023 in Abuja, “had possession of an aggregate sum of N2,337, 840,674.16, which sum you knew indirectly represented the proceeds of criminal conducts of Hadi Abubakar Sirika, who was the Minister of Aviation at the time.”

It was revealed that the ex-minister’s younger brother, Abubakar, was earlier arrested and detained by the EFCC in connection with N3,212,258,930.18 paid to his company, Enginos Nigerian Limited’s bank account by the former minister.

 

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Nigerian Bank chiefs obtain N549bn insider loans in five years

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Directors and key management personnel of Deposit Money Banks borrowed about N549bn from their financial institutions in five years.

This is according to The PUNCH analysis of the banks’ annual reports filed with the Nigerian Exchange Limited between 2019 and 2023.

However, the banks’ loans and advances to some directors and key management personnel as well as related party transactions dropped significantly in 2023.

These transactions dropped to N52.40bn for eight financial institutions compared to N111.31bn in 2022, indicating a 52.92 per cent decline in one year.

Financial institutions reviewed in the 2023 review include Access Holdings, Guaranty Trust Holding Company Plc, Zenith Bank Plc, United Bank for Africa, Fidelity Bank, Wema Bank, Stanbic IBTC Holding Plc and the FCMB Group.

This decline came amid the release of new corporate governance guidelines by the Central Bank of Nigeria which went into effect August 1, 2023.

In the circular dated July 13, 2023, and signed by Director, Financial Policy and Regulation Department, Chibuzo Efobi, the guidelines which imposed responsibilities on the bank board and the executive compliance officers, supersede other previous codes, circulars and related directives, according to the apex bank.

The CBN guidelines on related party transactions said, “Banks shall establish a policy concerning insider trading and related party transactions by directors, senior executives, and employees, as well as publish the policy or a summary of that policy on their website. 22.2 The policy shall contain appropriate standards and procedures to ensure it is effectively implemented. 22.3 In addition to the requirements in Section 22.2, there shall be an internal review mechanism carried out by the internal audit function of the bank, to assess the compliance and effectiveness of the policy.

“22.4 Any director whose facility or that of his/her related interests remains nonperforming in any financial institution for more than one year shall cease to be on the board of the bank and shall be blacklisted from sitting on the board of such bank and that of any other financial institution under the purview of the CBN. 22.5 No director-related loans and/or interest thereon shall be written off without the CBN’s prior approval.”

Leading the pack in terms of major decline in loans to related parties and entities controlled by key management personnel was Fidelity Bank Plc, which went from N92.31bn at the end of December 2022 to N2.09bn at the end of last year.

In footnotes, the bank however said that some of the related parties like A-Z Petroleum Limited, Dangote Group and Genesis Group as of 31 December 2022, had “exited the related party relationship post 2022 financial year in line with CBN requirement.”

In 2022, the total value of insider loans for 10 banks including Access Holdings, Guaranty Trust Holding Company Plc, Zenith Bank Plc, United Bank for Africa, Fidelity Bank, Wema Bank, Stanbic IBTC Holding Plc, FCMB Group, Unity Bank and Sterling Bank amounted to N131.04bn.

Fidelity Bank led the highest for the year, followed by Unity Bank at N17.32bn and UBA at N13.74bn.

In 2021, the loans to related parties of these financial institutions rose to N139.16bn with Fidelity Bank and UBA leading at N97.73bn and N15.28bn, respectively. GTCO trailed in third position with N6.859bn.

Between 2019 and 2020, a total of N226.6bn was disbursed as loans. In 2019, eleven banks borrowed its key management personnel a total sum of N29.65bn. The figure also includes loans to companies related to the directors.

An analysis showed that GTCO lent N155m, Zenith Bank (N1.76bn), UBA borrowed its directors N297m, Wema Bank (N5.2bn), Stanbic IBTC (N95m), FCMB (N4.8bn), Unity Bank(N7.14bn), Sterling Bank (N10.12bn) to related parties.

In 2020, the figure increased by 564 per cent or N167.32bn to N196.97bn.

Checks showed that Access Bank lent the highest with a total of N174bn to its directors and companies related to them. This was followed by Unity Bank with N7.55bn. Third on the list was Sterling Bank with N6.01bn.

Other banks including Fidelity borrowed its directors N986.2m, GTBank (N67.9m), Zenith Bank (N1.797bn), UBA (N206m), Wema Bank (N2.82bn), Stanbic IBTC (N332m), FCMB (N3.2bn), Unity Bank (N7.55bn), Sterling Bank (N6.01bn).

Commenting on the trend, the Chief Research Officer at InvestData Consulting, Ambrose Omordion said “In my language, they say, it is the yam that you know that you use to make pounded yam. If an organisation feels that the insider or director can pay the loans given to them, then there is no issue. It is when they do not pay that is where there would be issues.

“Like what is happening now in the economy, banks are not giving loans to ordinary companies unless those with names because of economic headwinds. If they give loans to the public and they are unable to repay, Non-Performing Loans will rise. If the banks offer to insiders that would pay, it is better for them.”

 

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Court Orders Arrest of Ex-Naval Chief, Usman Jibrin Over Alleged N1.5billion Money Laundering Charges

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Justice Inyang Ekwo of the Federal High Court, Abuja, has ordered the arrest of a former Chief of Naval Staff, Vice Admiral Usman Jibrin, and two other officers over N1.5 billion money laundering charge.

 

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) dragged the trio before the court over fraud N1.5bn allegations.

 

The court issued the arrest warrant after hearing a motion exparte marked FHC/ABJ/CR/158/2023 and filed by ICPC counsel, Osuobeni Ekoi Akponimisingha.

 

In the motion, the lawyer submitted that Usman Jibrin Oyibe, Adam Imam Yusuf, Brigadier General Ishaya Gangum Bauka (first to third defendants), were investigated for allegations of money laundering and making false statements regarding diversion of funds in their respective military and paramilitary institutions, into companies in which they allegedly had stake.

 

According to him, at the commencement of the investigation into the allegations, the defendants were released on administrative bail on self-recognition because of their status as serving and former public figures and has since then refused to show up for possible arraignment in court.

 

The Lawyer prayed the court for a bench warrant against the 1st, 2nd and 3rd Respondents (Vice Admiral Usman Jibrin Oyibe, Adam Imam Yusuf, and Brigadier General Ishaya Gamgum Bauka) in charge No. FHC/ABJ/CR/158/2023 which is pending before the court for the purpose of arresting and bringing them to court for their arraignment and trial.

 

Listed as first to sixth defendants in the 17-count charge are Usman Jibrin Oyibe, Adam Imam Yusuf, Brigadier General Ishaya Gangum Bauka, Lahab integrated & Multi Services Limited, Gate Coast Properties International Limited and Ummays Hummayd Energy Ltd

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