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N239.2 Debt: APC Demands Explanation From Akwa Ibom Governor

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4 years ago

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The Akwa Ibom State All Progressives Congress has demanded an explanation from Governor Udom Emmanuel for incurring at least 80 percent of the N239.2 billion debt.

A few days ago, the Debt Management Office had ranked Akwa Ibom as the third-highest debtor state with N239.2 billion while Lagos and Rivers states were ranked first and second, respectively.

Over 80 percent of the debt was incurred by Governor Udom, a statement signed by its APC Publicity Secretary in the state, Nkereuwem Enyongekere, confirmed.

The party questioned the rationale behind the pile of debts and accruing over N1.6 trillion without any significant infrastructural development.

According to the statement, “early this week, the Debt Management Office (DMO) revealed that our government owes the Banks a whopping N239.2 billion, the third-highest among the states in Nigeria. Over 80% of it was procured by Gov. Udom Emmanuel.

“This revelation simply highlights just how badly the governor has managed our finances since he became our chief executive. Akwa Ibom people deserve explanations on what Gov. Udom Emmanuel has done with all the resources his administration has earned.

“As a political platform that espouses probity, accountability and transparency, APC hereby calls on Mr Emmanuel to address the state immediately and give a full account of how he has spent our money. We hereby urge the elders and the people of the state to demand explanations from Gov. Udom Emmanuel on what he did to the N1.6 trillion that has accrued to the State under his watch.

“Ordinarily, debts are used by governments to finance deficits and fund infrastructural development. Lagos State, the highest debtor (N493.3 billion) is building a metro rail from Badagry to Marina, Rivers State, the second-highest debtor (N266.9 billion) is undergoing a tremendous infrastructural renaissance. Right now, five flyover bridges are being built simultaneously in Port Harcourt. But there is no such investment in Akwa Ibom State.

“There is just nothing to show for all that we have earned or borrowed. Gov. Udom Emmanuel has not completed a 10-kilometre stretch of dual carriageway any way in our state. The governor talks glibly about a syringe factory located in his Onna LGA; but who owns it? He talks about Ibom Air. Again, what is the ownership structure, and how much did the state invest in it and how much revenue is coming into the State’s coffers from it?

“As we have said before, this governor is just out of his depth. He indulges in waste of resources, reckless spending of money and setting wrong and confusing priorities. We are convinced that there are also many cases of corruption at the highest level of government.

“Just before the 2019 elections, the state government hurriedly borrowed N3.5 billion from Zenith Bank, ostensibly to install security cameras on Uyo streets. Not a single camera has been installed anywhere in our state. Not even a pin-hole camera. We have since learned that the money went into private pockets, the same way money withdrawn to finance the abandoned Ekom Iman Flyover Bridge went.

“Our resources are frittered away through unscrupulous schemes. These are some of the reasons our state continues to be stuck in an economic quagmire, while our people are crushed under a huge debt peonage that will, unfortunately, last through future generations. How sad!”

The party, however, said it would support the EFCC and other anti-graft agencies to recover all the funds allegedly stolen from the state treasury since May 30, 2015.

“We shall work with the federal authorities to bring justice to our people for the sufferings and criminal neglect they have suffered under this administration.” The statement reads

However, the Publicity Secretary of the Peoples Democratic Party, PDP in the State, Borono Bassey reacting to the APC statement, said, “even though I’m not convinced that, that is the true position of the debt standing of Akwa Ibom State, yet, Gov Emmanuel, has given an account of every kobo accruing to the state in terms of putting infrastructures in place.

“The truth remains that Gov. Emmanuel has made very result-oriented efforts in erecting development across all sectors of Akwa Ibom State economy. You can see roads scattered over the place, over 1700 kilometres of roads. But what I would like APC to do is to praise development that is happening in the state and place it side by side with the performance of the APC-led government at the centre.

“Because APC cannot be talking about debt and is completely blind to the sufferings the government has subjected Nigerians to. How would the APC government increase electricity tariff and pump price of fuel when we are struggling with a pandemic.”

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Justice Okamgba is journalist at Grassroots.ng

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Finance

AISA Has Refunded The Fees Paid By Yahaya Bello To EFCC

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4 days ago

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April 27, 2024

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The Economic and Financial Crimes Commission (EFCC) says the American International School Abuja (AISA) has refunded the fees paid by the immediate past governor of Kogi state, Yahaya Bello, for his children attending the school.

In response to a letter addressed to the Lagos zonal commander of the EFCC, the school said $845,852 was paid in tuition “since the 7th of September 2021 to date”.

AISA said the sum to be refunded is $760,910 because it had deducted educational services already rendered.

“Please forward to us an official written request, with the authentic banking details of the EFCC, for the refund of the above-mentioned funds as previously indicated as part of your investigation into the alleged money laundering activities by the Bello family.

Since the 7th September 2021 to date, $845,852.84 (Eight Hundred and Forty-Five Thousand, Eight Hundred and Fifty Two US Dollars and eighty four cents) in tuition and other fees has been deposited into our Bank account.

We have calculated the net amount to be transferred and refunded to the State, after deducting the educational services rendered as $760,910.84. (Seven Hundred and Sixty Thousand, Nine Hundred and Ten US Dollars and Eighty Four cents).

No further additional fees are expected in respect of tuition as the students’ fees have now been settled until they graduate from ASIA.”

In a chat with The Cable, the spokesperson of the EFCC, Dele Oyewale, confirmed that the school has refunded the money.

‘’The money has been paid into public account,” Dele Oyewale was quoted as saying

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Finance

Godwin Emefiele Disobeyed Direction Of Law With Intent To Harm The Public, He Printed ₦684.5M Using ₦18.9B Says EFCC in fresh charge

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1 week ago

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April 23, 2024

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The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.

EFCC in the charge accused Emefiele of approving the printing of N684,590,000 at the rate of N18.96 billion.

EFCC also alleged that Emefiele broke the law with intent to harm the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

EFCC’s top prosecutor, Rotimi Oyedepo, SAN revealed that Emefiele will be arraigned on a new four-count charge before Justice Hamza Muazu

Counts one to four of the charge, read,

“STATEMENT OF OFFENCE: Public Servant disobeying direction of law with intent to cause injury to the public contrary to and punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.

“PARTICULARS OF THE OFFENCE: That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

This and three other charges were stated against him. They read;

“COUNT 2: “That you, GODWIN IFEANYI EMEFIELE, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4, 471,066,040 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.

“COUNT 3: “That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

“COUNT 4: “That you, GODWIN IFEANYI EMEFIELE, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124, 860, 227, 865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”

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Finance

Immigration Office Place Ex Governor, Yahaya Bello On Watchlist While IG Of Police Withdraws All Police Officers Attached To Him

Published

2 weeks ago

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April 19, 2024

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The Inspector General of Police, Olukayode Egbetokun, has withdrawn all police officers attached to the embattled former Governor of Kogi State, Yahaya Bello.

The order for the withdrawal was contained in a police wireless message. The document with reference number:

“CB:4001/DOPS/PMF/FHQ/ABJ/VOL.48/ 34 reads in part;“IG has ordered the withdrawal of all policemen attached to His Excellency and former Executive Governor of Kogi State, Alhaji Yahaya Bello. Acknowledge compliance and treat with utmost importance.

Please, above, for your information and strict compliance.”

Meanwhile, the Nigerian Immigration Service has placed the former governor on its watchlist.

This comes after the Economic and Financial Crimes Commission on Thursday, April 18, declared him wanted in connection to an alleged case of money laundering to the tune of N80.2bn.

From EFCC

In a circular signed by an Assistant Comptroller of Immigration, DS Umar, for the Comptroller-General, Kemi Nandap, the NIS detailed the former governor’s name, nationality, and passport number.

From National Immigration Office

And read;

“I am directed to inform you that the above-named person has been placed on the watch list.

Suffice to mention that the subject is being prosecuted before the Federal High Court Abuja for conspiracy, breach of trust, and money laundering vide letter Ref; CR; 3000/EFCC/LS/EGCS.1/ TE/Vide/1/279 dated April 18, 2024.

If seen at any entry or exit point, he should be arrested and referred to the Director of Investigation or contact 08036226329/07039617304 for further action.” the circular reads in part.

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