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Confusion: Finance Minister Says Magu lied over recovered funds

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With different officials of the Federal Government eagerly beating their chest over how much has been recovered from former functionaries, there is a growing confusion in Abuja over the actual amount already recovered.

In May 2016, Minister of Information, Mr. Lai Mohammed, said government recovered N78.3 billion, $185 million, £3.5 million and €11,250.

In addition, he disclosed that 239 non-cash recoveries were made with interim forfeiture amounting to N126 billion, $9 billion, £2.4 million and €303,399.

He also put anticipated repatriation of looted funds from offshore sources at $321.3 million, £6.9m and €11,826, the minister added.

These figures are, however, different from those recently given by acting chairman of Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, late last year at the seventh session of the Conference of State Parties to the United Nations Convention Against Corruption in Vienna, Austria.

According to Magu, EFCC monetary recoveries between May 2015 and October 20, 2017 were in excess of N738.9 billion, which is equivalent to over $2.9 billion, adding “this does not include smaller currencies like Durham, CRA and British Pound,” he added.

“Within this year alone, the commission recovered stolen assets running into several millions of US dollars and billions in naira. This include the sum of $43 million recovered from Deziani Allison-Madueke, Nigeria’s former Minister of Petroleum and N2 billion spread in seven accounts within three Nigerian banks laundered from the Federal Capital Territory Police Command Salary Accounts,” he explained.

The variation of figures is apparently causing some confusion in government as the Finance Minister, Mrs Kemi Adeosun, has written a letter to Magu, asking him to explain how much exactly the EFCC has recovered.

In the letter dated February 9, 2018, and personally sined by her, entitled “Summary of Economic and Financial Crimes Commission (EFCC) recoveries from May 2015 to January 2018”, the Finance minister wrote:

Why EFCC, ICPC continue to lose corruption cases —Akin Olujimi

“This is to notify you of the records of cash assets recoveries in the custody of the Economic and Financial Crimes Commission (EFCC) from May 2015 till date based on the information available to the Office of the Accountant General of the Federation (attached).

“It has, however, come to the attention of the Ministry of Finance, the use of recovery figures in media reports by the EFCC that do not reconcile with the records of the Ministry.

You are, therefore, kindly requested to clarify where these cash recoveries have been deposited and provide accompanying evidence.”

It will be recalled that one of the reasons given by the Senate for refusing to confirm Magu for the position was his inability to give figures of recoveries as of the time he was being interviewed by the committee of the whole house.

Some citizens have also accused the anti-graft agency of converting part of recovered looted funds to personal use by agents.

A senior official in the Ministry of Justice said “it appears that Magu is using a different means of computation from standard procedure.

“Maybe he is adding the value of confiscated property to the cash recoveries, which should not be so,” the official said.

(Nigerian Tribune)

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RIMA Foundation Clocks 20 Years

…as the founder, Dr. Oyedokun clocks 50!

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Dr Ayodeji Oyewole Oyedokun of RIMA Foundation
Dr Ayodeji Oyewole Oyedokun

RIMA Foundation is set to mark two decades of promoting access to information, raising public consciousness on the need for proper management and security of records and information, and encourages the overall development of the information management community for the benefit of humanity and the industry.

Today, virtually all organizations, regardless of size, possess and manage a legacy of records and information, accumulate a rapidly growing store of records/information, and anticipate a future that is mostly, but not entirely, electronic. 

It’s estimated that more than 90% of the records/information being created today are electronic. 

Coupled with the overwhelming growth of electronic messages – most notably e-mail and instant messaging – the management of records/information has become a critical business and social issue. 

How that information is managed has significant business, legal, and technology ramifications. Ultimately, it doesn’t matter what medium is used to create, deliver, or store records/information when determining if content is a record and should be managed accordingly. 

Now, individuals and organizations also produce a vast range of important records/information – such as letters, reports, emails, marketing materials, studies, engineering drawings, handwritten consultation notes, and committee minutes – all of which constitutes an organization’s memory of its processes and procedures, and its knowledgebase of its expertise, experience, and specializations.

For this reason, Records and Information Management Awareness Foundation (RIMA Foundation), was established as a brainchild of Dr Ayodeji Oyewole Oyedokun, the founder / chairman – Board of Directors at The International University of Information Management [IUIM], who is also celebrating his 50th birthday.

RIMA foundation’s drive is to bring together knowledge and create awareness about information management and security to improve the information management/security awareness globally thereby promoting transparency and accountability in both public and private organisations. 

“For many organizations and individuals, records/information will continue to be important for as far ahead as they can see even though they will rely increasingly on knowledge management technology”, Dr. Oyedokun said.

RIMA Awards now International Management Merit [IDMM] Awards 

The Foundation has also set up plans to appreciate the data​ & information management community through the International Management Merit [IDMM] Awards. 

Coincidentally, Dr Ayodeji Oyewole Oyedokun will be marking his 50th birthday – it is a double celebration for him!

Formerly known as the RIMA Awards, this esteemed event celebrates excellence and innovation in Data, Information, Content, Archives, Records, Document Management & Security.

Since its inception in 2005, the RIMA Awards have been the beacon of recognition, highlighting outstanding efforts in promoting proper management and security of records and information. 

As the largest event of its kind in Africa, these awards symbolize excellence and innovation in the IM, IT, and business world.

“By recognizing these efforts, we aim to emphasize the importance of effective records and information management systems, which are crucial for improved decision-making, operational efficiency, and compliance with legal and regulatory requirements”, he said.

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Ekiti Students Caught On Camera Bullying A Fellow Student, Have Been Expelled

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The management of Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI) has expelled two of its students filmed assaulting a female colleague.

A video recently went viral on social media of a student hitting her fellow student with a stick that was handed to her by another student. The bully had kept insinuating that she would draw blood from her victim.

Reacting to the incident, the Public Relations Officer of the institution, Temitope Akinbisoye, in a statement released, said the students caught in the video were summoned on Monday, May 6 and were meted the appropriate punishment for their actions

”In accordance with our institution’s policies and extant regulations, the students who were captured in the viral video appeared before the Students’ Disciplinary Committee at its emergency meeting held on Monday, May 6, 2024, for interrogations and appropriate recommendations, the report of which has been submitted to the University authorities.

The University authorities condemn in strong terms, any form of violence or misconduct in our University or by any of our constituents. Such behaviour is entirely inconsistent with the values we uphold and the standards of respect and dignity that we expect from all members of our University.

Miss Opemiposi Precious BOLAJI with Matriculation No. 10232, a 100L Mass Communication student who was beating her colleague with a stick and threatening to inflict bodily harm on her for allegedly destroying her 3-year old love affair with her boyfriend was found guilty of misconduct and flagrant breach of her matriculation oath and consequently EXPELLED with immediate effect.

Miss Genesis OSARO, a 100L Mass Communication student with Matriculation No. 10257, who provided the stick with which Gloria AJAYI was beaten, was found guilty of misconduct (as an accomplice) and flagrant breach of her Matriculation oath and consequently EXPELLED with immediate effect.

Miss Gloria AJAYI, a 100L Mass Communication student with Matriculation No. 10295, who was seen being beaten in the viral video but did not retaliate or engage in fisticuffs with her tormentors, was EXONERATED.“

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“80% Of Buildings In Lekki Have No Approval” – Lagos State Commissioner For Physical Planning & Urban Development Reveals

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The Lagos State Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, has stated that 80 per cent of buildings in Ibeju Lekki have no approval.

Olumide disclosed this while speaking to newsmen recently.

In his words; “Just last week Thursday and Friday, myself and the team were in the Ibeju Lekki and Epe axis and you would agree with me that anybody passing through that corridor would see a lot of estates marked. We went there, and I can tell you that from what we saw, over 80 per cent of them do not have approval.

The procedure to get approval is first to get the planning information, as to what those areas have been zoned for. In this case, what we have is agricultural land, and people now go to their families to buy agricultural land. Of course, those lands would be sold because those families do not know the use such land would be put to.

The next thing to do is the fence permit. If you missed the earlier information on not knowing the area zoning, at the point of getting the fence permit, you would be able to detect what the area is zoned for. After that, the layout permits a large expense of land follows.”’

Olumide noted that a layout permit cannot be obtained if it is not zoned for the purpose it was designed for or for the purpose it was being requested.

“So, you can see all these layers, but people still go ahead to start advertising. Some have even gone to the extent of displaying the sizes they want to sell. Imagine someone in the diaspora who wants to send money without any knowledge. Then, no approval is eventually gotten. Even if they pass the assignment and the survey to them, we would not grant the individual permit, because that area is not zoned for that purpose’’ Olumide said

This partly explains why some of the houses are being turn down currently in the state.

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