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Wike, Four Other Ex-Govs, Technocrats Make Tinubu’s 42-Man Ministerial List

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There are strong indications that five ex-Governors will feature in the President Bola Tinubu’s Ministerial list of nominees that he will be sending to the Senate for approval between now and next week.

The President has less than 20 days left out of the 60 allowed by the Constitution for him to send his list of Ministers to the Senate for screening.

Guardian reports that the list described as unusual, already dubbed the ‘cabinet of (political) unity’, will have nominees drawn from the ruling All Progressives Congress (APC), Peoples Democratic Party (PDP) and many technocrats.

Tinubu’s relationship with some people other parties has already drawn out contests and intrigues in political camps over choice of suitable representatives in some of the key states. However, there may be enough slots to go round sought-after persons.

The Guardian reports further that barring last minute change, the cabinet will be as bloated as what former President Muhammadu Buhari had, but with major realignments in portfolios.

It was learnt that a 42-member cabinet is being expected because “each state is constitutionally mandated to have a representative at the cabinet and as it was done by the last administration, each of the six geological zones will also have members in the unity government.”

As gathered, the new cabinet will consist of 42 Ministers and 20 Special Advisers. Some of the remarkable difference from the last administration would be the likely abrogation of Ministers of State. Also, SAs will contribute to discussions at the weekly Federal Executive Council (FEC) meetings.

READ ALSO: Why I Worked Against Atiku In 2023 Presidential Election – Fayose

Some of the ministries to be touched include Works and Housing, Agriculture and Rural Development, Humanitarian Affairs, Disaster Management and Social Development, and Youths and Sports.

Those who made the proposed list of 20 expected to serve as Senior Special Assistants (SSAs), Special Assistants (SAs) and Personal Assistants (PAs) are: Dr Adekunle Tinubu – Personal Physician; Tunde Rahman – SSAP (Media); Damilotun Aderemi – SSAP (Private Secretary); Ibrahim Masari – SSAP (Political Matters); Toyin Subair – SSAP (Domestic); Abdulaziz Abdulaziz – SSAP (Print Media); Otega Ogara – SSAP (Digital/New); Demola Oshodi – SSAP (Protocol); Tope Ajayi – SSAP (Media & Public) and Yetunde Sekoni – SSAP.

Others are Motunrayo Jinadu – SSAP; Segun Dada – SAP (Social Media); Paul Adekanye – SAP (Logistics); Friday Soton – SAP (Housekeeping); Mrs Shitta-Bey Akande – SAP (Catering); Nosa Asemota – SAP (Visual Communication) Personal Photographer; Kamal Yusuf – PA (Special Duties); Wale Fadairo – PA (General Duties); Sunday Moses – PA (Videography); and Taiwo Okonlawon – PA (State Photographer).

According to a document sighted at the weekend, the proposed nominees await President Tinubu’s formal approval before it is officially announced. Meanwhile, some of the nominees have actually started working in the assigned roles.

However, state chapters and national secretariat of the APC have been sidelined in the process of recommending the ministerial nominees as “the Governors are in charge and states where opposition parties occupy the seat of government, party leaders make recommendations, that is why some states have multiple nominees,” it said.

Some of the Governors that might have been penciled down to be part of the final list to be submitted to the senate included former Governor of Kaduna State, Mallam Nasir el-Rufai, especially for his role in the emergence of Tajudeen Abbas as the Speaker House of Representative. Besides, the report of the committee set up by the APC in 2018 on true federalism, which he headed, is said to be one of the major reasons he is being rooted for by Tinubu’s camp.

Others former Governors include; Abdulahi Ganduje (Kano), Abubakar Atiku Bagudu (Kebbi), Muhammad Badaru Abubakar (Jigawa) and Nyesom Wike (Rivers).

It was also gathered that former Ogun State Governor, Senator Gbenga Daniel is being favoured ahead of Senator Ibikunle Amosun for the ministerial list, while former Governor of Ekiti State, Kayode Fayemi, is also being considered for a Foreign Affairs Minister role. He had served in the last administration as Minister of Mines and Steel.

In Lagos, which is the President’s forte, Senator Tokunbo Abiru, a banker, is being primed to emerge as the new Finance Minister. His switch over from the Senate, where he currently represents Lagos East senatorial district, is to pave way for the return of former Lagos Governor, Akinwunmi Ambode, into the President’s political family.

In Delta State, the APC is uncertain who will be appointed minister following scheming by the different interest groups and camps within the party.

A party source said the party has been polarised into two camps – one led by former deputy senate president, Ovie Omo-Agege, and another spearheaded by Lauretta Onochie and Dr Cairo Ojougboh, who was reportedly expelled from the party.

According to a reliable source: “From the top, the party may decide to pick Festus Keyamo, because he was presidential campaign spokesman and has been assisting the President to defend his case at the tribunal.”

But it was also gathered that another bloc is rooting for Otega Emerhor, with the support of Omo-Agege, since he (Omo-Agege) is still fighting to ‘reclaim’ his governorship mandate at the election tribunal.

In Cross Rivers State, there were speculations that some party bigwigs have been lobbying Aso Rock for ministerial positions.

Sources in Calabar hinted that interested persons, including the immediate past Governor, Ben Ayade; former senate leader, Victor Ndoma-Egba; APC National Women Leader, who was a former commissioner for Health in the state, Dr Betta Edu; a governorship aspirant in this year’s elections, Senator John Owan Enoh; former party chairman and ambassador, Soni Abang; immediate past Board chairman of Nigeria Ports Authority (NPA) and one-time commissioner for Information, Akin Rocket, and renowned businessman and also a governorship aspirant, Ben Akak, might be angling to be made minister.

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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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