EFCC Investigates Alleged Missing N500m Chibok Safe School Funds

The Socio-Economic Rights and Accountability Project (SERAP) has said the Economic and Financial Crimes Commission (EFCC) is looking into the petition requesting the anti-corruption body to “urgently begin a thorough, transparent and effective investigation into the allegation that N500 million Safe School funds for Chibok girls, commissioned by former Minister of Finance, Dr. Ngozi Okonjo-Iweala to rebuild the Government Girls School in Chibok, is missing and cannot be accounted for.”

SERAP’s senior staff attorney, Timothy Adewale, in a statement, said the petition, dated December 27, 2016, was sent to the EFCC chairman, Ibrahim Magu.

Adewale said: “We have received confirmation from the EFCC that the body is looking into our petition. The EFCC has also expressed its determination to diligently investigate the allegation of the missing N500 million Safe School funds for Chibok girls, and sought additional information from SERAP.

“SERAP appreciates the prompt attention the EFCC has given to the matter, and our organisation is committed to sending to the EFCC additional information, including any available documentary evidence in our possession in order to enable the anti-corruption body to get to the root of the matter, identify suspected perpetrators and bring them to justice.”

It would be recalled that SERAP had in its petition urged the EFCC to “invite for questioning, and name and shame anyone suspected to be involved in the alleged diversion, including the contractors allegedly handling the project.”

The petition reads in part: “The allegation that N500m has been lost to corruption has resulted in denying the girls access to education, and shows the failure of the former President Goodluck Jonathan government to live up to Nigeria’s commitments under the global Safe School Declaration.

“SERAP believes that the diversion of the funds will expose the school to attacks in the future. This is a fundamental breach of the country’s obligations including guarantees of non-repetition, which contribute to prevention and deterrence of future attacks.”

Meanwhile, the EFCC spokesperson, Wilson Uwujaren refused to comment on the issue when he was contacted.

Gambia Chief Judge pulls out of hearing on Jammeh’s case against Barrow

Chief Justice of The Gambia, Emmanuel Fagbenle, on Monday pulled out of a suit by President Yahya Jammeh to stop the inauguration of president-elect Adama Barrow on Thursday.

“Given that the injunction affects me in my capacity as the Chief Justice, I will excuse myself from hearing it,” he said.

“The motion therefore waits for the constitution of the Supreme Court or allows the judges to arrive in The Gambia”, he added.

Edward Gomez, a lawyer for Jammeh’s party, conceded it was “certainly not possible under these circumstances” to have an injunction barring Barrow from being sworn in.

Supreme Court has said Jammeh’s challenge to the election result could not be heard for several months as it did not have a full bench, and the extra judges needed to hear the case were not available.

Barrow’s spokesman insisted he would be sworn in as planned on Thursday. He is currently in Senegal.

Jammeh on Sunday stated that he would not leave office until the Supreme Court had heard his challenge to the poll result.

“The so-called deadline of 19th January 2017 is not cast in stone and all parties shall await the outcome of the Supreme Court,” he said on state television.

Estate agents lament drop in prices of property

Estate agents have decried the drop in the price of landed property across Nigeria as a result of the economic recession plaguing the country.

Some agents and developers who spoke with OPINIONVOICES TIMES said that the property market was seriously affected by the economic downturn, leading to huge drop in the prices being offered by potential buyers.

Seyi Sodiya, a Lagos-based estate developer, said there is a lull in the market also because the cost of production has increased.

He said even though people still build houses and buy property, production cost has doubled while the cost of workmanship has remained stable. He however expressed optimism that the market situation will change in the first quarter of this year.

“Yes, people are still buying property, building houses and carrying out projects but the cost of construction has doubled in some cases.

“The only thing that has been stable a bit is the labour wages. We hope that the momentum will improve in the first quarter of 2017,” he said.

Mr. Sodiya, however, described the economic recession period as the ‘choice’ time for buyers to bid for property, stressing that many property owners dispose their asset at lower prices at the time.

He explained that the crisis of foreign exchange and the fluctuating rate of the Naira had no impact on the prices of property last year, adding that it was largely because there was not much foreign direct investment, FDI.

Nigerian breaks British Box Office record, Sells Over 80,000 tickets

The World Heavyweight unification blockbuster between Anthony Joshua MBE and Vladimir Klitschko has broken box office records with over 80,000 tickets sold for the April 29 super fight at Wembley Stadium.

The second batch of tickets for the blockbuster fight sold inside one hour when they were released at lunchtime on Monday and the total tickets now sold has exceeded the record set by Carl Froch’s World Super Middleweight title rematch against George Groves in 2014.

Promoter Eddie Hearn said: “The demand for tickets for Joshua vs Klitschko is phenomenal – this is unquestionably the biggest fight in British boxing history and we would have sold out Wembley twice over.

“We have put a request into Brent Council, the Mayor’s office and TFL to increase the capacity by a further 5,000 tickets. We are confident of a positive answer.”

Joshua will face former World ruler Wladimir Klitschko for his IBF World Heavyweight title and the vacant IBO Championship as well as the WBA Super Championship on April 29, 2017 at Wembley Stadium.

$29.96bn Loan: Saraki must not join Buhari to ruin Nigeria- Fayose

Governor Ayodele Fayose of Ekiti State, has urged the Senate President, Senator Bukola Saraki not to join the federal government in ruining Nigeria by supporting President Muhammadu Buhari’s request for external loan of $29.96 billion.


The governor called on the Senate President to pitch his tent with Nigerians and not because of his own personal interests thus joining Buhari to destroy Nigeria, saying, “Senator Saraki must know that no matter how much he tries to worm himself into the hearts of the Aso Villa Cabal, they can never love him and accept him into their fold.”

In a release issued by his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose asked, “what is the economic sense in taking over N12 trillion loan so as to be able to spend more money during economic recession? How can a nation be proposing to spend more money when its income has reduced considerably? “Yes, it is being argued that nations in recession must spend to get out of recession, but in the case of Nigeria, how do we pay back when as at today, 30 percent of our income is being used to service debt? What will happen to our economy when over 60 percent of our income is being used to service debt?” He said the Senate must be mindful of the reality that “many States in Nigeria are unable to pay workers salary now because of the huge debt left behind by past governments.” 

The statement read: “When the Senate unanimously threw out President Muhammadu Buhari’s request for external loan of $29.96 billion, many Nigerian heaved a sigh of relief and hailed the Senate. “However, unfolding events in the last few days suggest a dangerous alliance between the presidency and the Senate President, Bukola Saraki to ensure the approval of the $29.96 billion loan at all cost. Feelers getting to the public suggest that the ongoing Code of Conduct Tribunal (CCT) trial of Senator Bukola Saraki is being used as blackmail to get him to back the $29.96 billion loan. “Senator Saraki should be mindful that the $29.9 billion loan will do incalculable damage to the country’s ailing economy because of the amount presently being used by the federal government to service loan monthly. “Therefore, Senator Saraki must not allow himself to be seen as using the future of Nigeria as negotiation for his own interests.

 “He must know that no matter what he does to the Aso Villa Cabal to achieve their aims, it won’t change their minds concerning his travails. “He should be reminded that despite that he assisted the Aso Villa Cabal to pass the controversial 2016 budget and cleared all the ministerial nominees, they never stopped plotting to bring him down. “This time around therefore, the Senate President should be mindful of riding on the back of this political tiger that is roaring to consume everyone as he can only get momentary reprieve.


 He will eventually end in the stomach of the tiger! “Senator Saraki should remember that only the cowards die many times before their death. Even if he gives his life as ransom for President Buhari, that won’t stop his persecution. “Instead of collaborating with the Aso Villa Cabal to plunge the present and future generations of Nigerians into the bondage of debt, Senator Saraki should pitch his tent with Nigerians, who are against the $29.96 billion loan and write his name in gold, like Senator Ken Nnamani did when he rejected Obasanjo’s third term agenda.”

Africa needs more scientists for accelerated economic, social development’

Nigeria and indeed the African continent must work towards improving her stock of scientists, if accelerated growth, including economic, social and sustainable development must be witnessed.

This therefore establishes the imperative to reposition the teaching and learning of science in the country and on the continent, which is the nexus to realising this.

This was the consensus of experts who converge on the University of Lagos (UNILAG), for the yearly Science, Technology, Engineering, Medicine and Mathematics (STEMM) Festival, organised by Science Ambassadors Foundation (SAF).

The forum, which had as its theme, “Experiential Science Education: Prerequisite For Sustainable Development In Nigeria,” had over 100 public and private schools in attendance. 

Head, Polymer and Textile Technology Division, Federal Institute of Industrial Research (FIIRO), Oshodi, Lagos State, Dr. Chika Ezeanyanaso, in her keynote address, highlighted the need for government at all levels to urgently incorporate experiential science education in its educational policies and ensure its strict implementation.

Enumerating the importance of science education in our individual and national lives, she said, “Experiential science education would not only help increase scientific literacy in the country, it would also excite and enthuse children with a sense of awe and wonder at the natural world. It would make them to be proficient at practical work and use of scientific equipment; aid them to know, understand at an abstract level, and be able to apply important scientific theories. 

“For any nation, including Nigeria, to attain sustainable development, there is need to recognise science education as a priority area of education for her citizens. Science education is vital to promote a culture of scientific thinking and inspire citizens to use evidence-based reasoning for decision making. It would ensure that citizens have the confidence, knowledge and skills to participate actively in an increasingly complex scientific and technological world.
 
Country Director of SAF, Mrs. Chinyere Nnabugwu, in her presentation, said, “Advancement and growth of a country depends on trade. This has been so for ages past. The only difference is in the product or service used as a medium of exchange. In the 21st century and beyond, Information and Communications Technology (ICT) are the driving force for the vibrant economies of the industrialised nations.

“Taking a cue from most developed nations, we will discover that their curriculum and science education policy, and its implementation are key ingredients to their technological advancement.”

It is therefore key to note that some countries export human capital as a source of revenue. Looking inwards, Nigeria is blessed with resources (human and material) for the astronomical development it clamors for; the missing bridge in the equation has been the technical know-how.

“If this trend goes on unchecked, the current challenges bedeviling our economy as a dependent consuming and unproductive economy will be a joke. It is to this end that we make bold to state that our options are limited if the survival of our nation and wellbeing of our children is of paramount concern to us,” she submitted.

On the way forward she said, “We must advance activities, undertake actions, conceptualise concepts and programmes that will complement that of other stakeholders that will ideally encourage, support, and inspire, our children to explore and be engaged in prospects and platforms in the sciences to create constructive and relevant contribution to the prosperity and posterity of our people and nation.”

Lagos Key to Economic Reconstruction of Nigeria

Lagos State Governor, Mr. Akinwunmi Ambode has noted that the state was critical to the economic reconstruction of Nigeria, a role he said it had started to play as Africa's fifth largest economy.

Ambode added that Nigeria should channel her diversification efforts to basically promote Micro, Small and Medium Scale Enterprises (MSMEs), which he described as the engine of economic growth.

He made the remark at the 2016 Lagos International Trade Fair held at the Tafawa Balewa Square, Onikan recently, where he said the MSMEs "is a gold mine waiting to be fully explored in the country."

Ambode, who was represented by the Deputy Governor, Dr. Oluranti Adebule, addressed the fair alongside President of the Lagos Chamber of Commerce and Industry (LCCI), Chief Nike Akande, and the Commissioner for Commerce, Industry & Cooperatives, Mr. Rotimi Ogunleye.

He said the state government "will not stop being a pathfinder in the drive for Nigeria's economic reconstruction. With a population of 22 million, Lagos State has, over the years, amassed great public trust and investors' confidence as indicated in several world economic reports."

MMM: CBN denies approving scheme

The Central Bank of Nigeria, CBN, has again asked Nigerians to dismiss reports that it has approved the operation of Russian ponzi scheme, The Mavrodi Mondial Movement, otherwise known as MMM.

The movement is a scheme that assures up to 30% interest of money invested.

A new report circulating online claimed that participants are challenging Nigerian authorities for “poking their nose into the affairs of well meaning foreigners that have come to rescue them from money issues.

It claimed that, “CBN governor has allayed the fears of skeptical Nigerians and disclosed that thorough checks carried out on the organisation shows that it is a legitimate investment facility.

It also claimed that “A top official at the Ministry of Finance said even the federal government has invested the sum of N100b in MMM so that the interest of N30b can be reinvested in capital projects across the nation.”

Reacting, Isaac Okorafor, Acting Director, CBN Corporate Communications, told DAILY POST on Thursday that, “There’s nothing like that.”

“Nigerians should ignore any report claiming the we approved financial institutions that don’t even exist.”

Okorafor added: “I repeat, Nigerians should ignore questionable schemes”.

Recall that the Economic and Financial Crimes Commission early in the week told DAILY POST that it was carrying out surveillance on the MMM investment scheme.

Nigeria: FG to Spend N56.3 Billion On Rural Electrification

The Federal Government has said it would spend N56.3 billion ($150 million) on rural electrification in the country.

The Minister of Power, Works and Housing, Mr. Babtunde Fashola, disclosed this yesterday at a business forum on "Financing Opportunities in the Nigerian Power Sector" in Lagos.

Fashola, who promised to uphold all contractual obligations entered into by the government, said the N56.3 billion would be spent, using 44 tertiary institutions and the small hydro dams in the rural areas of the country as anchors for the programme.

The Minister said: "Any talk of cancellation of the privatization was a negative signal to investors that Nigeria has no respect for contracts and would not support that.

"If revisiting means that the operators should allow more investors into the business I am for it but with the caveat that it has to be done within the Rules of Contract, negotiation and possible arbitration".

He said government would use 44 tertiary institutions and small hydro dams in the rural areas as anchors for the electrification programme.

Fashola said the money would be deployed towards providing Independent Power Plants to supply electricity to tertiary institutions and rural communities.

Trump: Nigeria may get less grants, aids from U.S

The President, Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, says the United States of America may reduce support in terms of grants and aids to Nigeria considering the conservative orientation of the Republicans. Jacobs told newsmen on Wednesday in Abuja that it was rather early to predict what the economic outlook of Nigeria would be in respect to the U.S. election.

“It is likely that the country may receive less material, moral and political support. “Policies and programmes of the Republican government might also not be favourable to some Nigerian illegal immigrants, based on the campaign speeches of the President-elect, “Jacobs said. Jacobs said that such immigrants, especially nonprofessionals, would be a burden on the country when they return. 


According to him, Nigerians have contributed to the building of the American economy over the years, adding that Nigerian professionals had been making waves in the US. “If such professionals return to Nigeria, they will help to develop the country in various professions. “Their activities may also help to salvage the nation from the current recession and build a virile economy, ” he added. During his campaign, U.S. President-elect, Donald Trump, had taken a swipe at political leaders in Africa on account of the level of corruption and economic backwardness on the continent. 

Trump said African leaders were bad examples for leadership and recommended that the continent be re-colonised. “In my opinion, most of these African countries ought to be recolonised for another 100 years, because they know nothing about leadership and self governance.