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Pastor Tunde Bakare Explodes: Blame Obasanjo for Yar’Adua, Jonathan’s failure …

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The Serving Overseer of the Latter Rain Assembly, Pastor Tunde Bakare, spoke to BAYO AKINLOYE and TOBI AWORINDE about President Muhammadu Buhari’s list of ministerial nominees, among other issues

What do you think about President Muhammadu Buhari’s ministerial nominees so far and what input did you have in the selection process?

We all waited for President Buhari’s list to come out. We have seen it and we trust God for the best as regards these people he (Buhari) chose by himself after due consultation with the Vice President (Prof. Yemi Osinbajo) and the party (the All Progressives Congress). We trust that as some of them had performed well in time past (in areas) that we can point to, they would had the grace to also do extraordinarily well for the citizens of Nigeria.

As for whether I have an input or not, that question is uncalled for because I am not in the decision-making organ of the party. He (Buhari) said it publicly that it (the selection) was (made) after due consultations with the Vice President and the leadership of the party. I am neither the Vice President nor an officer of the party. So, the question of my input has no basis.

The names of several of the ministerial nominees had been bandied about for months, prior to the official announcement. Do you think the delay in releasing the list was warranted?

In the first instance, he explained why it took that long. I do not think that President Buhari had no idea of who he wanted in his cabinet; I believe he had an idea of who he wanted but he wanted to act democratically: One, by consulting with his people as well as the vital organs of the leadership of the party. Two, he did mention in his October 1 broadcast that it was just few days to May 29 that he received the handover notes, then, the transition committee they set up had the opportunity of some weeks to go look into the notes. Three, they then sat down to harmonise the ministries with a view to making them lean and mean so that we don’t have a bogus government. If you do not know what ministries you are going to have, what would be the basis for appointing ministers for such ministries, which you have not agreed upon? It was after they had done that that they began to fill the places; that was when he decided, ‘I think A can go to ‘A’ ministry, B can go to ‘B’ ministry and C can go to ‘C’ ministry.’ That is why he took that long. It is not that he had no idea of who he wanted in his cabinet. But he had to do it thoroughly. Slow and steady wins the race.

A number of the ministerial nominees, especially some ex-governors, have been singled out in petitions and allegations of corruption. Is there anyone on the list who you may have doubts about?

Nigeria is a very complex country to govern. I am a preacher; permit me to digress a little to bring some wisdom from the Bible. In Deuteronomy 1, while doing his handover notes, Moses, the servant of God and the leader of Israel who led them (the Israelites) out of Egypt to the Promised Land, said, ‘May the good Lord multiply you a thousand times more.’ In essence, population is no problem. You can look at China and India, population is no problem; it should actually be an asset. ‘May the Lord multiply you a thousand times more, but I cannot bear — (three things) — your complaints, your problems and your burdens.’ This is the primary task of government. My understanding of this is that complaints that are not looked into become problems, and the problems that are not solved become burdens.

It is legitimate for some people to have petitions and complaints about an individual, based on their knowledge of that individual. But if you look at the other side of the spectrum, there are people who are thanking God for that individual because they benefitted from him while in office. Therefore, I have no comments that I will make publicly about any individual. President Buhari and his leadership team must have spent quality time to look at those things (issues) and you can rest assured of one thing: he is law-abiding and, because he is law-abiding, he will do the needful if any of them is found guilty. Remember, an accused person is presumed innocent until the contrary is proved. So, allegations do not translate into the committal of a crime. They remain allegations. But the Senate has said it will look into those things and I pray that the best, brightest and fittest will come out of their screening so that Nigeria can move forward.

What is your general assessment of the list? Are you disappointed or otherwise?

To be honest with you, disappointment does not arise at all because I am in the ‘amen corner’ of Mr. President. I wish him well. I want him to succeed and I know he is a person of deep thought, who has put a lot of considerations into it. If the leader says, ‘This is the person I want,’ how am I going to be disappointed in that? Let me see the man who is so perfect that he does not have any faults here and there; even those who were used by God in the Bible. Once upon a time, Moses killed and God said, ‘Those who are looking for you are there.’ Once upon a time, Saul of Tarsus was murdering Christians and throwing them into jail. Remember the thief on the cross who said (to Jesus), ‘Remember me in your kingdom.’ He entered Paradise that same night. Let us not judge people only by their past. Let’s put the totality of the picture; let’s consider all. I do not think that President Buhari, who is a champion for order and who wants to fight corruption with everything God has given him, will condone corrupt people around himself. But until those things are proved, they remain in the realm of allegations. There is therefore no disappointment whatsoever. To be honest with you, I know at least five or six of them very well. The ones I don’t know, I give the benefit of the doubt.

Earlier this year, you said, “I trust Buhari and this is because I have worked closely with him but I doubt his environment.” What did you mean by “environment”?

That comment was made at the (Island) Club, where I gave a Lenten lecture. It was during that lecture that I said, ‘I can vouch for the integrity and honesty of Gen. Muhammadu Buhari (as he was then called). But I see some around him that I can’t say the same thing about.’ Remember, the APC is an amalgam of all kinds (of parties). But then, this is not heaven; this is the earth. In heaven, you may have angels attending to the duties in the throne room, but on earth, you still have men. And the best of men are still men, at their very best. Even in heaven, Satan — as Lucifer then — rebelled against God and created war, so how much more on earth? But I think likes attract likes. I believe in the power of influence more than the influence of power. If a leader is ramrod straight, he will influence his environment. And because of that, there can be a bandwagon effect of, ‘Look, this will displease the leader. Let’s do it right.’

That time was a time of politics, when there was still fight for this and that. In fact, I do not think that at the time I gave the lecture, we had gone to election. It was few weeks before the election. We have past that stage now. We are now face-to-face with the stark realities and I think the President put a lot of that into consideration before coming to his final list.

What lessons should President Buhari learn from former President Goodluck Jonathan’s failures?

To start with, President Buhari is not the new kid on the block. He had been governor of a total of six north-eastern states. He had been petroleum commissioner – what we now call minister of petroleum, and he had been Head of State for a brief period—between 1984 and 1985. He knew why he fought doggedly for those 12 years to unseat an entrenched regime or rather a political party (the Peoples Democratic Party) that had the vision or illusion of ruling Nigeria for 60 years. Whatever was his motivating factor should not be forgotten because what takes you to the top will sustain you at the top.

Now, there is what is called the PVC (Permanent Voter Card) revolution in Nigeria. He can’t afford to rest on his oars until his good becomes better and his better becomes best, because the promises made, and even those that are not made but are needful for this society, must be on the front burner for him to still stand before Nigerians and give account of his stewardship and expect them to vote for him or his party in the future. Those two things are enough to keep him going. And if he keeps on doing the right things, then the wrong things and the wrong people will leave him alone.

A number of big shots in the PDP have been jumping ship and pointing fingers at Jonathan for failing to fight corruption. Do you think that the party today would be what it is today if Jonathan had won the last election?

I will put it this way: failure is an orphan, success has many fathers. I’ve seen in this country that we are quick to shoot the wounded. If Jonathan did not accomplish much in the time he was president or vice president, I thank God for one thing: he did not allow a bloodbath in the process of handing over power. If he had decided to use all the powers at his disposal, he could still be unseated but there would have been bloodbath that was unnecessary and President Buhari alluded to that both in Washington—I was there with him when he made that statement—and here, when he received the baton in May. On October 1, he still alluded to it that he (Jonathan) saved Nigeria from an unnecessary bloodbath.

As for those who are talking, especially those he (Jonathan) looked up to as father figures; it’s too soon to abandon a person, no matter what he has done wrong or right. Let the law take the full effect if he has done anything that borders on crime. I am not supporting abuse of office, but please, ‘Do not rejoice over me, my enemy,’ as the Bible says, ‘because if I fall, I will rise again. The righteous man falls seven times; the Lord picks him up again.’ What am I saying? I am trying to say, ‘let’s give credit where it is due and let’s give correction that is necessary.’ We must not shoot the wounded because we are now teaching future people to sit tight because of the shame that will come as a result of handing over power.

The Minister of Petroleum Resources under Jonathan’s administration, Mrs. Diezani Alison-Madueke, is facing charges in the United Kingdom bordering on money laundering and bribery. What are your thoughts on accusations that she was high-handed during the last administration?

I was not part of that government. It stays in the realm of best guesses and I don’t do well with guesses. I like facts. The matter is in a court of competent jurisdiction outside of the realm of a ‘cash-and-carry’ legal system. So, let the law take its full effect. I do not think money can bribe a British judge. We have seen from (ex-Governor of Delta State, James) Ibori’s case that though he was discharged and acquitted on the same charges, he got to Europe and faced the music. If Diezani had abused power, that abuse must have been condoned by those who gave her free rein. So, you can’t blame Diezani alone; you (have to) look at the systemic failure that produced such people. Where is the place of checks and balances? Where is the oversight that the Senate was supposed to have in the National Assembly? Where is the collective effort of those in the cabinet? You can’t blame one man; the fall of one is the fall of all. It is a shame on the nation that they are arresting our ministers abroad and finding money in their hands. Like the people, like the priest.

What do you make of the pleas by Bishop Matthew Kukah of the Catholic Diocese of Sokoto; the President of the Christian Association of Nigeria, Pastor Ayo Oritsejafor, and others in the National Peace Committee against probing Jonathan?

He who wears the shoe knows where it pinches. The individuals you mentioned — the Bishop of Sokoto and Pastor Ayo Oritsejafor — they are people I can pick my phone (to call) and ask them about their opinion on what they have said. I have learnt not to follow what I read in the newspapers in Nigeria. My first daughter got married in August this year and it was all over that Pastor Bakare gave his daughter away (in marriage) in London, whereas it took place in Lagos. So, when they say things about people, I have learnt to be careful. And about what transpired between Bishop Kukah and President Muhammadu Buhari, until we get to hear from both sides, I am careful not to pass judgment.

I am not avoiding your question because it’s been done to me a number of times. In 1999, it was reported that I said (ex-President Olusegun) Obasanjo would die. I didn’t say such a thing. But where will I be going to say I didn’t say such a thing? I don’t waste my time. I just focus on what I am doing. If I gave a false prophecy, why did Obasanjo invite a thousand pastors to Ota to start praying for intervention? I just said, ‘Hey, be careful; if these take place, these are the consequences that will come.’ Nobody paid attention to the details of what I said that, ‘If by an act of omission or commission Obasanjo is sworn, in as President of Nigeria, three things would happen: One, corruption will reach its peak; two, the revival of the occult will claim the lives of many; and three, family life will disintegrate in Nigeria.’ Go back and check those things, whether they came to pass or not.

Here we are, I have no reason to hate Obasanjo, but it is what you blow into the flute that it brings out. I have heard claims that I said Obasanjo would die. Propaganda is the machinery of the wicked; they have a way of making a mountain out of a molehill. Why would anybody who believes in equity and fairness say that if someone has done evil, he should be overlooked? No! The Bible makes it clear that when judgment is not speedily executed, the hearts of men are set in them to do evil.

When I went to the US with the delegation of President Buhari, part of the little contribution I made during a meeting we had with (the first female US Secretary of State) Madeleine Albright was that we should learn from the past and we should not put the cart before the horse. In the past, what we were asking for was restitution— ‘return our money’ — but we didn’t do any prosecution. This time, we should prosecute and do it legally so that others will learn that there are consequences for what they have done. When you know that if you steal, you will face the music, you will think twice; except your father’s name means nothing to you and you are not a person of dignity and integrity. I don’t want to spend my life in jail over stolen wealth of the nation. No. But if for my conviction, for asking that Nigeria should be restructured, for asking for order and discipline to be in our nation, you jail me, then, I will become the moral conscience of the nation. I do not think any preacher in his right mind will say, ‘wherever you see wrong done, overlook it.’ I don’t think those people (peace committee members) will say so or else they know more than we know.

What if Jonathan is found to be guilty of looting the country’s treasury?

If he had looted the treasury, take the money back. Take the money back and let the world know; let the law take its full effect. A president is a servant of the people. Power is a trust from God. If he had looted the treasury, take the money back and let the law take its course. But don’t deliberately impugn his integrity; don’t give a dog a bad name in order to hang it.

Obasanjo has been meeting with President Buhari. Are you wary of his closeness to the President?

Buhari is not a young man that can be influenced by anyone. He knows his onions and his door is open to past leaders. And he must cross-check with them some things that are not clear to him. So, because people change, who knows? If a Saul could become Paul, if a Jacob could become Israel, who knows what an Obasanjo could become? He could become the person who says, ‘Oh my God! I regretted that I had the opportunity to do my best and I did not do quite well.’ If I had any pain where Obasanjo is concerned, it is not a pain born out of envy; we are poles apart age-wise, in terms of exposure and status. (In life) we are miles apart — he’s much older than I am. There is no competition at all. My pain is that I have not seen anyone as specially endowed and blessed in Nigerian history and political history like Obasanjo.

There is a portion of the Scripture in John 4, where Jesus met the woman at the well of Samaria and he said to his disciples afterwards, ‘Lift up your eyes and see, the harvesting field is white already and I am sending you to reap where you do not bestow labour.’ It is as if every time something major happens in Nigeria, he is the recipient of the blessings. Can you compare the role of Benjamin Adekunle of the Third Marine Commando Division in the Nigerian Civil War; can you put it on the same pedestal with the role of Obasanjo? Obasanjo joined them at the war front; not long after, he was the one that received the surrender note (from the Biafran troops). Obasanjo was not part of the coup that brought Gen. Murtala Muhammed into power but he became his deputy. And immediately Gen. Muhammed was murdered, he became the Head of State.

I remember him saying, ‘Against my personal wish and desire, the mantle of leadership has now fallen upon me.’ I mean, I heard his English and I said, ‘Oh my God, this is an Egba man speaking.’ But, he was our Head of State. Whether he was rough or rugged, take it or leave it, there is an invisible hand positioning him. Obasanjo handed over power whether out of being afraid or not, we don’t know. But he handed over power and he became a global power well received. Abdulsalam Abubakar was a parade commander the day Obasanjo handed over power to Shehu Shagari, only for Obasanjo, years after, – more than 20 years after – to come and receive power from the same Abubakar straight away from prison.

Those eight years (Obasanjo spent as president) should have been formidable years of putting Nigeria upon a pedestal that nobody can reverse it. And above all, whether it is insecurity or selfishness, which is the greatest curse on the face of the earth, he gave the weak and the sick to the nation. Whatever happened during Umar Yar’Adua and Goodluck Jonathan era – yes, they will have their own portion of the blame – but Obasanjo thought he could manipulate things from Ota. That is my opinion; that is my pain. He robbed this nation of quality leadership and he robbed this nation of being put on a pedestal of predictable progress. That should be his regret. Now, he should repent and contribute his quota towards giving quality leadership to this nation.

Are you saying Obasanjo messed up things during his eight years?

He did (mess things) big time; time will tell.

Some people are asking for immunity for some principal officers in the National Assembly. What do you think about this?

Immunity is the breeding ground of impunity. What I think should be enshrined in our Constitution, no matter the position you occupy, including that of the president, when it borders on crime is that immunity should not be something you feel you can cling to. Because immunity breeds impunity, no one should be above the law regardless of the office you occupy. In fact, in decent climes, such people should resume. But here, it is not so.

Will you, therefore, say that the immunity clause should be removed from the Constitution?

No. if you remove immunity clause, presidents and the governors can be overwhelmed by assailants –not those who just want to shoot them –but, those who want to bring petitions and false allegations against them all the time. But where a crime is proved, that someone has committed a crime, regardless of the office you occupy immunity should be taken away. That is why I said in decent climes –look at the Watergate scandal, Richard Nixon (a former president of the United States) resigned. Whenever crime is involved there should be no immunity –because immunity breeds impunity.

Some Nigerians are asking the Senate President, Dr. Bukola Saraki, to resign following the charges levelled against him by the Code of Conduct Bureau?

No. I am not saying that because they remain charges until he is proved guilty. But, if he knows in his heart of heart that he is guilty of those things, nobility will compel such a person to say, ‘Upon this consideration, I will remain on the floor of the Senate.’ But, if he knows that he is not guilty, let him wait there and let it be proved in the court. And if he is found guilty, even if he goes on an appeal or not, they will ban him from public life; it had happened before. History has a way of repeating itself.

Source: The Punch

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EFCC may prosecute 300 forex racketeers

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•EFCC gets order to freeze 300 accounts, says one account transacted $15bn illegally

•Naira would have crashed massively if 300 accounts were not frozen – Chairman

The Economic and Financial Crimes Commission may prosecute 300 forex racketeers trading on a peer-to-peer platform outside the financial regulations.

The EFCC Chairman, Ola Olukoyede, who gave this indication during an interactive programme with editors and bureau chiefs in Abuja on Tuesday, revealed that the accounts were frozen following a court order on Monday.

He disclosed that one of the accounts traded over $15bn in the past year.

Recently, the Federal Government through the Nigerian Communications Commission blocked the online platforms of Binance and other crypto firms to avert what it considered continuous manipulation of the forex market and illicit movement of funds.

It also detained two senior executives of Binance, a cryptocurrency exchange amidst efforts by the government to rein in speculation on the naira by cracking down on cryptocurrency exchanges.

The government also sent EFCC operatives to arrest Bureau De Change operators at the popular Wuse Zone 4 in Abuja.

While the websites of Binance, Coinbase, and Kraken have been inaccessible in the country, reports said crypto traders now use alternatives like Bybit, Bitget, Kucoin, and Coincola and messaging platforms like Telegram which comes with an in-app wallet to make transactions.

But highlighting the measures being taken to protect the naira and stimulate the economy, Olukoyede explained that the forex accounts were frozen to ensure the safety of the foreign exchange market and protect the economy.

He stated that the efforts had helped the value of the naira and the forex market.

He pointed out that the commission needed the support of Nigerians to succeed as he emphasised that if the agency failed, Nigeria had failed.

‘Worse than Binance’

Olukoyede stated, “We observe due process in whatever we do. Do you know that the Binance case we are currently handling now has helped us to bring down the madness in the forex market?

’Suddenly, we discovered that there are people in the system who are even doing worse than Binance. They called them P2P and all of that. We noticed in the last two days ago that dollars have started appreciating. There was stability for 24 hours, then the naira was devalued again by N20 and N25. I don’t know whether you noticed that.

“It was due to the activities of some of these guys on P2P platforms like coolcoin. Some of you must have seen them on social media. To shock you; just yesterday (Monday), I asked them to freeze over 300 accounts. We found that one of those guys (account owners), had traded over $15bn last year.’’

Continuing, the lawyer said 300 illicit accounts would have led to a crash of the naira in the next week if the EFCC hadn’t moved against them.

He added, ‘’Our job is serious. We work 18 hours per day. We are not saying that Nigerians should praise us because that was what we signed for but where we deserve, we should be given. We are humans like Nigerians.

“Over 300 accounts in illicit forex trading that would have led to another crash in the next one week if we didn’t move yesterday. Some people just want to see this country go from bad to worse. We must find a way to work together. We got an order to freeze those accounts; Imagine what would have happened if we didn’t seize those accounts.’’

The EFCC boss said his agency was focusing on illegal mining which he described as an economic crime.

‘Illegal miners’

He stated that EFCC operatives had recently intercepted 40 trucks of illegally mined lithium, promising to prosecute the perpetrators.

He also shed light on the current moves to arrest a former Kogi State Governor, Yahaya Bello, vowing to pursue the case to its logical conclusion.

Olukoyede vowed to resign as EFCC chairman if Bello was not prosecuted even as he declared that he would bring to book those who obstructed the arrest of the former governor.

The EFCC chairman vowed that everyone involved in obstructing Bello’s arrest from his Abuja residence would face the full wrath of the law.

He hinted that the incumbent Kogi State governor, Usman Ododo, accused of helping his predecessor to escape arrest, may be investigated for obstructing a lawful operation.

The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust and misappropriation of funds to the tune of N80.2bn.

Olukoyede said that no matter what anyone did or the amount of attack against the anti-graft agency, he and his men would not relent in helping to sanitise the country.

He revealed how he put a phone call across to Bello following the allegations of corruption brought against him.

Olukoyede said, “I called Yahaya Bello, as a serving governor, to come to my office to clear himself. I shouldn’t have done that. But he said because a certain senator had planted over 100 journalists in my office, he would not come.

“I told him that he would be allowed to use my private gate to give him a cover, but he said my men should come to his village to interrogate him.”

Olukoyede noted that the EFCC did not violate any law while trying to arrest the former governor from his residence.

“Rather, we have obeyed the law. I inherited the case and I didn’t create it. Why has he not submitted himself to the law?” he asked.

He added, “I have arraigned two past governors who have been granted bail now — Willie Obiano and Abdulfatah Ahmed.”

Speaking further, he said, “We would have gone after him since January but we waited for the court order. As early as 7 am, my men were there; over 50 of them. They mounted surveillance. We met over 30 armed policemen there. We would have exchanged fire and there would have been casualties.

“My men were about to move in when the governor of Kogi drove in and they later changed the narrative.”

He vowed that all those who had dipped their hands in the nation’s coffers would be investigated and prosecuted.

“If I can do (Ex-Anambra governor Willie) Obiano, (Ex-Kwara governor) Abdulfatah Ahmed and Chief Olu Agunloye, my kinsman, why not Yahaya Bello?” Olukoyede noted.

He further revealed how the former governor withdrew $720,000 from the state’s coffers to pay his child’s school fees in advance.

Olukoyede noted that Bello wired the $720,000 from the state’s coffers through a Bureau de Change operator.

The EFCC boss, while expressing his dissatisfaction with the ex-governor for failing to honour the EFCC summons, said, “A sitting governor, because he knew that he was going, he removed money directly from government’s account to bureau de change, and used it to pay his child’s school fee in advance. Dollars, $720,000 in advance, in anticipation that he was going to leave the government house.”

He expressed dismay over the activities of internet fraudsters which he said was enjoying the support of some unscrupulous Nigerians.

According to him, banks in the country lost over N8 billion to internet fraud in 2022.

He said more than 71 per cent of companies operating in Nigeria were victims of cybercrime in 2022, adding that the anti-graft agency’s fight against internet fraud is about saving the nation’s future.

Olukoyede disclosed that the commission has created a cybercrime research centre where convicted internet fraudsters, known in local parlance as Yahoo Yahoo boys, will be trained to channel their knowledge to positive aspects of society.

The EFCC chair also said the agency is prosecuting two of its operatives for violating the agency’s code of conduct.

He said the commission has implemented some reforms to enhance its fight against corruption, including creating a directorate of fraud risk assessment/control and ethics/integrity.

Meanwhile, ex-governor Bello was on Tuesday served his charges through his counsel, Abdulwahab Muhammad (SAN) after Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, ruled that the defendant should be served through his counsel, especially as he failed to appear before the court, yet again.

This was contained in a statement on Tuesday by the EFCC spokesman, Dele Oyewale.

The EFCC is prosecuting Bello alongside his Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19-count charges bordering on money laundering to the tune of N80.2bn

The commission’s attempt to arrest him last Wednesday at his Abuja residence failed as Bello refused to grant the operatives access to his residence or give himself up, leading to a stand-off which lasted for several hours.

He subsequently managed to escape the dragnet as he was allegedly helped by Governor Ododo who took him away in his car.

The EFCC declared him wanted while the Nigeria Immigration Service put him on its watchlist.

At Tuesday’s sitting, Bello’s counsel, Adeola Adedipe (SAN) prayed the court to quash the arrest warrant granted the commission against Bello, arguing that Tuesday’s substituted service to the defendant through Muhammad has invalidated the arrest warrant.

“The court is expected to do justice at all times. A warrant of arrest cannot be hanging on Bello’s neck when we are in this court. It appears to us that the defendant will not get justice because the court granted a warrant of arrest before service,” he said.

However, prosecution counsel, Kemi Piniero (SAN) in response, urged the court to decline hearing on any motion from Bello’s legal team until the defendant is physically present in court for his arraignment.

“The stage we are in now is to determine the whereabouts of the defendant. He cannot be in his house while the trial proceeds without him coming here to take his plea. My Lord, this is a criminal matter not a civil matter, he must come and take his plea.

‘’It is a matter of over N80 billion. All these applications by the defendant are to prevent his arraignment and frustrate the commencement of trial,” he said.

After hearing both counsels, Justice Nwite adjourned ruling on the defence’s application, seeking a revocation of the arrest warrant on Bello till May 10.

 

  • The Punch

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Lokpobiri: Nigeria Has Lost $34bn in Oil Output Decline from Delayed Seplat-ExxonMobil Deal

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•Says production from assets fell to 120,000bpd, from 600,000bpd

•Insists country’s output could rise to 5mbpd in 18 months

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has revealed that Nigeria lost $34 billion in the last two and a half years due to the fall in production from the assets being divested by ExxonMobil to Seplat Energy, a transaction still awaiting approval by the federal government.

Lokpobiri made the disclosure in Lagos, during his keynote speech at the Second Quarter Dinner of the Petroleum Club, with the theme, “Funding Our Way out of the Crisis: Looking up to the Oil and Gas Sector.”

The minister explained that output from the assets declined from 600,000 barrels per day (bpd) to current 120,000bpd, leaving a shortfall of 480,000bpd, which he said amounted to $34 billion loss at a conservative $80 per barrels, in the last two and a half years.

Lokpobiri insisted that Nigeria could ramp up oil production to five million barrels per day within the next 12 to 18 months. He said lack of required investment in the Nigerian oil and gas industry over the past 10 years contributed to the decline in production, and stressed that it was one of the major challenges he faced on assumption of office.

Lokpobiri explained that Nigeria was producing about 600,000bpd from the ExxonMobil assets that were now under divestment, pointing out that today, the production from the asset has dropped to about 120,000bpd.

He stated that if the problem hindering the divestment process was resolved and minimal investment made on the asset, the country would be able to restore the production to 600,000bpd with the addition of 480,000bpd.

With that, in addition to condensate, which is outside the Organisation of Petroleum Exporting Countries (OPEC) computation, the minister maintained that the country was already delivering two million barrels.

Lokpobiri explained, “My own opinion is that, look, we are in short of 480,000 barrels a day from that ExxonMobil-Seplat transaction.

“For the past two and a half years, oil has been moving around $80 a barrel. Four hundred and eighty thousand barrels a day, multiply it by two and a half years, it will give you about $34 billion.

“When I was on this table, I was doing rough mathematics and I guess you have your phones. So, you can do the calculation. If one asset was doing about 600,000 barrels, because of certain problems, which we’re trying to resolve, production declined to 120,000 barrels, which means we’ve lost about 480,000 barrels a day.

“Multiply it by $80 a barrel. Every day, you’ll get about $34 million. Multiply it by two and a half years, you’re talking about over $30 billion. If $30 billion is injected into our economy today, I guess you guys will have to sell more of your dollars because dollar will naturally drop. This exchange rate is sometimes a question of demand and supply.”

As minister, with the mandate of the president, Lokpobiri said he would ensure that all problems hampering investment in the sector were resolved, beginning with the Seplat-ExxonMobil divestment issue.

“If from only that Seplat-ExxonMobil transaction, we have lost about $35 billion, imagine if that money was in Nigeria. Imagine if NNPC has about 70 per cent of that money. If they have that money to expand their investment, I believe that Nigeria will be in a better place,” he added.

Lokpobiri stated that the quickest way to the redemption of the Nigerian economic problems was through the oil and gas sector, arguing that no oil and gas producing country fails to prioritise investment in the sector.

He said President Bola Tinubu had given him a mandate to ramp up production, adding that achieving that needs engagement and collaboration with all the relevant industry stakeholders.

Lokpobiri admitted that the task of ramping up oil production could not be feasible without sustainable investment and without solving the problems in the industry.

He said one of the first problems that confronted him was the ExxonMobil-Seplat transaction, and said for the past two years, they’ve been struggling to resolve the problem.

He revealed that some agreements had been reached in the attempt to resolve the divestment bottleneck, assuring that in no distant time, the problem would be finally solved.

The minister stated, “When I came, what I did was to bring Seplat and NNPC to the table to say, ‘look, we must lock up ourselves in this room. We must find a solution to this problem.’

“What is the problem? They can attest to the fact that we are able to get some agreements. And I believe that in no distant time, we’ll be able to resolve that problem.”

He reiterated that his target was to ensure that production was ramped up by guaranteeing sustainable investments and by resolving the critical problems in the sector.

Lokpobiri stressed that production growth needed to happen on sustainable basis to increase the country ‘s revenue and enable the president to deliver the promises he made to Nigerians.

“That is my mandate. That is the mandate given to me by Mr. President. And I can assure you that this present administration is committed to ensuring that that happens,” he stated.

While the divestment was happening across the world, the minister clarified that in Nigeria, the international oil companies (IOCs) were not divesting and running away from the country. Rather, he said, the IOCs were divesting into deep offshore

Lokpobiri added that the development presented another opportunity for indigenous companies under the aegis of the Independent Petroleum Producers Group (IPPG), who have grown capacity, to take over the divested assets, maximise their productivity in these assets and pull Nigerians out of suffering.

Lokpobiri encouraged indigenous firms to put money together and work to overcome their funding challenge.

He explained, “If a group of people come together to say, ‘look, if I have $10 million, you have $20 million, let’s pull our resources together and see how we can fund some assets in this sector,’ I think that would be an alternative solution to our issues.”

He announced that only Nigeria and Ghana were currently in the contest to host the upcoming African Energy Bank (AEB).

He said if headquartered in Abuja, the bank, which would have $5 billion initial capital, would in four or five years grow to about $120 billion, and Nigeria’s economy would benefit from it.

Lokpobiri stated, “But the summary of what I want to say today is that, as a government, our own policy is to ensure that we do everything that is globally possible that other countries don’t have and that other countries are doing to attract investment, so that we can attract the desired investment.

“We are willing to remove all bottlenecks in the industry because every country that has oil, prioritises investment in the oil and gas sector, and that is why as a government, the president has directed that we should resolve all problems we have in the industry.

“And that is why we are also trying to resolve the problem of OML 245, the popular Malabu oil field, because we want to attract all the investment because in my own opinion, if we don’t attract the investment, this resource we have will just be buried under the soil with no value addition.”

 

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Yahaya Bello and the EFCC Quandary: The Devil is in the Details – Ayoola Ajanaku

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The dust is yet to settle, following the efforts of the Economic and Financial Crimes Commission (EFCC) to arrest the immediate past governor of Kogi State, Yahaya Bello last week, on the heels of the anti-graft agency preparation to arraign him over corruption charges. This development is more than what meets the eye, as it’s laden with intricate details that are the kernel of this lucid treatise.

The attempt to arrest the ex-governor led to the gestapo like siege to his residence located in Wuse Zone 4, FCT earlier. Officials of the EFCC cordoned off the road and entrance to the residence of the former Kogi State governor for most of Wednesday.

Despite the heavy presence of EFCC operatives around Bello’s residence, his successor in office, Usman Ododo, paid him a solidarity visit. Ododo arrived the erstwhile helmsman’s residence in the afternoon and was cheered by the loyalists of the former governor who were present to give support to their embattled principal.

Also, while the siege on Bello’s residence was still on, two conflicting court rulings emerged in respect to the attempt to arrest of the former governor by the EFCC. One of the rulings, which came from a Kogi State High Court sitting in Lokoja, restrained the EFCC from arresting, detaining or prosecuting Bello.

Justice I.A Jamil, who gave the order in a ruling last week, stated that infringing on the fundamental human rights of the former Kogi helmsman is null and void except as authorised by the Court.

“By this order, the EFCC is hereby restrained from arresting, detaining and prosecuting the applicant except as authorised by the Court.

“This is a definite order following the earlier interim injunction given,” he averred.

In another twist in the yoyo-like locomotion of multiple judicial pronouncements, however, the EFCC obtained permission from the Federal High Court sitting in Abuja to arrest the ex-Kogi State governor in preparation to his arraignment on Thursday.

Justice Emeka Nwite granted the warrant this afternoon at the instance of the EFCC.

Love or hate Yahaya Bello, the pertinent questions begging for answers in this litigation are:

The EFCC had in March indicted Yahaya Bello, in an alleged diversion of about N100 billion, an offence said to have been committed months before he assumed office as governor in September 2015. If any third party dissects the budgetary appropriation of Kogi State and it’s IGR dispassionately then the numbers do not add up. The former helmsman meet a humongous liabilities and backlog of non-serviced facilities accruing to the Confluence State that had to be serviced. The pervasive prevarication that colossal funds found it’s into his pockets amount to ‘Alice in Wonderland’ tales.

The anti-graft agency had joined Yahaya Bello in the amended suit alongside the Chief of Staff to Kogi State Governor, Alli Bello, and one Daudu Suleiman, who was re-arraigned by the anti-graft agency before Justice James Omotoso of the Federal High Court, Abuja.

The ex-governor was not a defendant in the original suit, and was not in court on the said day.

Justice Omotoso had granted an accelerated hearing in the matter and had also ordered that all forms of objections must be kept in abeyance till the address stage and the charge were read to them.

In the first count, the former governor, and the two suspects were accused of conspiring with each other in September 2015 and converting N80, 246, 470, 089 to their personal use. For contextual and editorial alignment, the goalposts of allegations have witnessed shifting and amendments.

What court Order did the EFCC appeal against as well as the reason behind it?

It is a germane fact in public domain that the EFCC appealed against the Order granted on the 9th of February, 2024 by the High Court of Kogi State, the said order was an order restraining the EFCC from inviting, arresting or detaining the Applicant vide Notice of Appeal filed on 26th February, 2024.

Also, the EFCC further asked for a stay of Execution of the Interim Order at the Court of Appeal on 21st of March, 2024, which request was refused by the Court of Appeal.

However, on the 6th of March, 2024, in defiance of the interim Orders and their own pending appeal against the interim Order, the EFCC proceeded to prefer a 17 Count(s) Charge before Justice Nwite of the Federal High Court against Yahaya Bello.

The EFCC went further to resort to self help when on the 17th of March, 2024, it approached the same Federal High Court, Abuja, via an Ex-parte application and without informing the said court of the interim Order and their pending appeal against the interim order, to obtain an arrest warrant against the same person in respect of whose Order they had appealed to the court of appeal.

Akin to the above, if indeed the EFCC has nothing to conceal, why are they trying to muddle up the issues on account of the main judgement that was also subsequently delivered in the same High Court of Kogi State without recourse to the interim order that they appealed against and requested to be stayed, which request was refused?

The EFCC claims to have extended invitation to Yahaya Bello’s quarter immediately after his tenure elapsed on January 27th 2024. He has challenged the anti-graft agency to produce a copy of this invitation, including the delivery date and the recipient’s name and endorsement. There’s ample confidence on his part that they cannot provide ample evidence to this effect.

This sudden attempt at trying to confuse unsuspecting public with sentimental press statements and mug shot poster emblazoned with wanted message in capital letters. These actions intended to impugn and malign Yahaya Bello would not help them clear the infraction and abuse of the judicial process to give a dog a bag name to hang it. It’s a recurring decimal and standard MO of the anti-graft agency to embark on the route of smear campaign on suspects in a bid to gain an edge in the gallery of public opinion.

Again, by the admission of EFCC to the effect that they were at the Court of Appeal on the matter, and at the same time, approached a Federal High Court without informing the court of the subsisting order and appeal, is an admission of abuse of judicial process, and a fraudulent deceit of the court that has led it to granting conflicting Orders while appeal was pending.

This approach is a grave infraction of due process of law, subsequently, the statement issued by the learned counsel representing EFCC in the said matter amounts to trying to justify the infraction in a media trial which is unethical and not allowed or recognized in the legal profession.

The NJC should seriously investigate this matter as the conduct of the EFCC lawyer is clearly unethical and smirks of “Jankara” and “Boju Boju” practice of circumventing due course of the law.

The EFCC had appealed the order on March 11, 2024 and sought a stay of execution in Appeal No: CA/ABJ/CV/175/2024: Economic and Financial Crimes Commission v. Alhaji Yahaya Bello. The Court of Appeal did not grant the stay of execution, but fixed yesterday for hearing.

The appeal, however, failed to take place as the registrar told journalists that the appeal was not listed among the cases for the day.

The latest development in this jurisprudential tango, the embattled immediate past Governor of Kogi State, Yahaya Bello said he was ready to appear before the Federal High Court in Abuja to answer to the 19-count charge the Economic and Financial Crimes Commission, EFCC, preferred against him.

Though Bello was absent for his arraignment, he briefed a team of lawyers who addressed the court on his behalf on Tuesday. A member of his legal team, Mr. Adeola Adedipe, SAN, told the court that his client would have made himself available for the proceedings, but all he clamours for is the strict adherence to the rule of law.

“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe, SAN, submitted.

Consequently, he urged the court to set aside the exparte order of arrest it earlier issued against the former governor.

Adedipe, SAN, contended that as at the time the order of arrest was made, the charge had not been served on his client as required by the law.

He noted that it was only at the resumed proceedings on Tuesday that the court okayed substituted service of the charge on the defendant, through his lawyer.

“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning.

“A warrant of arrest should not be hanging on his neck when we leave this court,” counsel to the defendant added.

Time will tell where the pendulum will swing, as Yahaya Bello is fighting a battle of his life to untangle himself from the charges filed by the Nigeria’s anti-graft agency earlier that has caught the attention of all and sundry.

In a nutshell, the pontification of prominent Lutheran pastor in Germany, Martin Niemoller rings a bell in this scenario. “First they came for the socialists, and I did not speak out—because I was not a socialist. Then they came for the trade unionists, and I did not speak out -because I was not a trade unionist. Then they came for the Jews, and I did not speak out – because I was not a Jew. Then they came for me – and there was no one left to speak for me.”

Regardless of his exact words, Niemöller’s message remained consistent: he declared that through silence, indifference, and inaction worse things happen. Alas, reverse is the case as in this part of the world an individual is not presumed innocent until proven guilty. The hounds and irate mob are out and baying for blood aided by apparatus of power with a predetermined ploy to have Yahaya Bello’s head on a plate via the guillotine.

Ayoola Ajanaku is a Communications and Advocacy Specialist based in Lagos, Nigeria.

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