Betta Edu: EFCC confirms recovery of N30bn – Newstrends
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Betta Edu: EFCC confirms recovery of N30bn

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3 weeks ago

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Dr. Betta Edu

Betta Edu: EFCC confirms recovery of N30bn

The Economic and Financial Crimes Commission (EFCC) says it has recovered N30 billion in the ongoing investigation of Betta Edu, suspended minister of humanitarian affairs and poverty alleviation and Halima Shehu, former chief executive officer of the national social investment programme authority, NSIPA.

The anti-graft agency also disclosed that it has placed 50 bank accounts under investigation in the ongoing probe.

President Bola Tinubu had suspended Edu and Shehu about three months ago for alleged financial misappropriation.

The president also suspended Social Investment Programme while directing the EFCC to take over the case and probe both embattled officials.

Ola Olukoyede, the Chairman of EFCC disclosed this in the March edition of the anti-graft agency’s monthly e-magazine, EFCCAlert.

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“We have laws and regulations guiding our investigations. Nigerians will also know that they are already on suspension and this is based on the investigations we have done, and President Bola Ahmed Tinubu has proved to Nigerians that he is ready to fight corruption,” he said.

“Moreover, with respect to this particular case, we have recovered over N30 billion, which is already in the coffers of the Federal Government. It takes time to conclude investigations; we started this matter less than six weeks ago.

“There are cases that take years to investigate. There are so many angles to it. And we need to follow through with some of the discoveries that we have seen. Nigerians should give us time on this matter; we have professionals on this case and they need to do things right. There are so many leads here and there.

“As it is now, we are investigating over 50 bank accounts that we have traced money into. That is no child’s play. That’s a big deal. Then you ask about my staff strength. And again, we have thousands of other cases that we are working on.”

The anti-graft commission boss reiterated the commitment of President Bola Tinubu to fighting corruption

Betta Edu: EFCC confirms recovery of N30bn

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FG to give full operating licence to Dangote

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2 hours ago

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May 1, 2024

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Dangote Petroleum Refinery

FG to give full operating licence to Dangote

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the commissioning of the 650,000 barrels per day Dangote Petroleum Refinery is imminent. Furthermore, the Authority will soon grant the refinery an operational license.

This announcement was made by NMDPRA’s Chief Executive, Engr. Farouk Ahmed, during a stakeholders’ forum in Abuja, where he revealed that only three refineries currently possess valid licenses.

“We have issue three refineries with three valid licences. We awarded to Dangote Refinery even in their pre- commissioning and sooner than later they will have full commission and a valid license to also operate,” he said.

Ahmed also noted that about 15 gas facilities have valid licences while more were undergoing processing.

According to him, there are 1,199 facilities with valid licences in the downstream.

He also said there are more than 176 operators, who hold gas import permits.

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The Authority Chief Executive also noted that there are 130 depots with valid licences while 69 hold valid coastal vessels licences.

In terms of retail, Ahmed said NMDPRA has licensed 9,464 retail outlets as at 10:00am yesterday.

His words: “In the gas processing facility, within the midstream, there are about 15 of them with valid licenses. And much are under processing.

“If you go to the downstream, in the gas state of the downstream, there are facilities more that 1,199 facilities are with NMDPRA valid licences. More than 176 operators hold gas import permits. In the liquid licensing side of the downstream, there are 130 depots with valid licenses, coastal vessels of more than 69 valid licenses as at today.”

The CEO of NMDPRA emphasized the importance of including midstream and downstream operations in the Host Community framework, as they are impacted by emissions and effluence. He used the examples of the Dangote Petroleum Refinery and NLNG to illustrate the scope of emissions.

He presented data on midstream and downstream operations to help stakeholders understand their reach and encouraged them to provide input on which facilities should be included in the Host Community and the criteria for doing so. The forum was organized to gather stakeholders’ ideas and feedback.

FG to give full operating licence to Dangote

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ICPC tracks N219.84bn projects in 176 MDAs

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2 hours ago

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May 1, 2024

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ICPC tracks N219.84bn projects in 176 MDAs

The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has tracked N219.84 billion to contractors and ministries, departments and agencies, MDAs, of the federal government.

The Chairman of the ICPC, Musa Adamu Aliyu, SAN, who disclosed this at a briefing in Lagos yesterday, said the tracking focussed on critical sectors such as education, agriculture, healthcare and infrastructure which he added, spanned 26 states and the Federal Capital Territory, FCT, across all six geo-political zones of the country.

“The Constituency and Executive Projects Tracking Group (CEPTG) has tracked a total of N219, 843,922,945.48 across 176 ministries, departments, and agencies, MDAs, since its inception in 2019.

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‘’The initiative is to ensure government funds are directed towards impactful projects that benefit the most vulnerable Nigerians,’’ he said.

According to the ICPC boss, the phase 6 tracking which commenced in November 2023 and continued through the first quarter of this year, is ongoing.

He said: “Finally, we want to assure Nigerians that ICPC, in the discharge of its enforcement mandate, is committed to adherence to the rule of law and international best practices in the investigation and prosecution of persons suspected to have committed corrupt practices.’’

The CEPTG, conceived in April 2019 as a preventive and intervention measure, is initiated to tackle corruption and, among other things, engender good governance, transparency, and accountability within the body polity. It focuses on how well monies allocated to critical sectors by the government are utilised.

Highlighting the findings from Phase 6 tracking, the commission’s chairman said a total of 1,721 government-funded projects were tracked within the Phase 6 tracking cycle.

ICPC tracks N219.84bn projects in 176 MDAs

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Nigeria’s solid minerals worth over $750bn — Minister

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3 hours ago

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May 1, 2024

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Dele Alake, Nigerian minister of Solid Minerals

Nigeria’s solid minerals worth over $750bn — Minister

The Minister of Solid Minerals Development, Dele Alake, revealed a preliminary report by German firm GeoScan that estimates Nigeria’s solid minerals are worth $750 billion. He highlighted this during a summit organized by the National Institute for Policy and Strategic Studies (NIPSS) and Bruit Costaud, emphasizing the sector’s potential contribution to Nigeria’s goal of achieving a trillion-dollar economy.

Alake noted President Bola Ahmed Tinubu’s commitment to reforms in the mining sector to prevent Nigeria from merely being a mining pit for solid minerals. He stressed the importance of data availability to attract investors and stimulate job creation and economic growth through mineral processing plants.

“We are working with the World Bank, Excalibur and GeoScan, a German company, to get the necessary data on the sector. That is why the federal government signed a memorandum of understanding with Geoscan, and they did a preliminary survey of our minerals’ output and potential. They gave us a figure of $750bn worth of minerals embedded under the ground of Nigeria.”

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Collaborations with organizations like the World Bank, Excalibur, and GeoScan aim to gather essential data for the sector. The memorandum of understanding signed with GeoScan resulted in a preliminary survey revealing the substantial value of Nigeria’s mineral resources.

Nasarawa State Governor Abdullahi Sule highlighted the importance of investing in solid minerals, particularly citing the significance of lithium, which he likened to gold. He announced the impending commissioning of Nigeria’s largest lithium processing factory, expected to process 4,000 metric tons daily and transport over a million tons of lithium annually.

Ayo Omotaya, Director General of NIPSS, reiterated the summit’s purpose of charting a path forward for the mining sector, underscoring the necessity of strategic planning and collaboration to harness Nigeria’s mineral wealth.

Nigeria’s solid minerals worth over $750bn — Minister

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