Emefiele: Probe uncovers how $6.3m was looted from CBN days before 2023 election – Newstrends
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Emefiele: Probe uncovers how $6.3m was looted from CBN days before 2023 election

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4 months ago

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Former CBN Governor, Godwin Emefiele during a court appearance

Emefiele: Probe uncovers how $6.3m was looted from CBN days before 2023 election

Mr Jim Obazee, the Special Investigator appointed by President Bola Tinubu to probe the management of the Central Bank of Nigeria, CBN, under the leadership of Godwin Emefiele has recommended the trial of former Secretary to the Government of the Federation, and 12 top executives of the bank for trial over fraudulent withdrawal of $6.23milion from the apex bank to allegedly pay foreign election observers.

According to the Special Investigator, the $6.3 million was removed from the vaults of the Foreign Payments Office, Abuja Branch of the CBN as captured on CCTV between 7th February and 8th February 2023.

The Special Investigator said he viewed the CCTV footage of the removal of the cash done about two weeks before the 2023 presidential election purportedly on the order of a letter dated 23rd January,  2023, with a signature mark, ‘Muhammadu Buhari’, which was sent to a government official with caption, ‘ Presidential Directive on Foreign Election Observer Missions’

This, the Investigator said was followed by another letter dated 26th January, 2023, with signature mark, directed to’ Mr. Godwin Emefiele, the Governor, Central Bank of Nigeria’, for payment of the sum of $6.23million as ‘ a contingent logistics advance… in line with Presidential directive and another follow-up letter dated 31st January, 2023, was sent to the Governor, Central Bank of Nigeria, requesting for approval to effect payment of the sum of $6.23m.

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The Special Investigator said the fraudulent withdrawal was uncovered on the 4th of December, when he issued a Request for Information to the management of the CBN.

He accused the former SGF, and the top government officials of engaging in “forgery, concealment, conspiracy and fraud” over withdrawal of the funds.

According to the Special Investigator,  an official of the CBN admitted in a written statement that he “acted in collaboration with, an Assistant Director in the Banking supervision Department of the Central Bank of Nigeria and some persons he is yet to identify, to conceive and carry out the act of stealing the sum of $6.23million out of the vault of the Central Bank of Nigeria.

He said two top CBN officials are already in custody over the incident.

“There is therefore an appearance of concealment by officers who occupied some positions up to, and around the period 7 and 8th February, 2023.”

Mr Obazee asked the government to prosecute directors, Deputy Directors, Assistant Director and Branch Controllers over the fraudulent cash withdrawal.

Emefiele: Probe uncovers how $6.3m was looted from CBN days before 2023 election

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Drama as Delta workers boo Gov Oborevwori over minimum wage

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7 hours ago

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May 2, 2024

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Drama as Delta workers boo Gov Oborevwori over minimum wage

Delta State workers expressed their disappointment with Governor Sheriff Oborevwori on Wednesday as he failed to address the issue of minimum wage during the 2024 May Day celebration in Asaba, themed “People First.”

Anticipating news on the minimum wage, the workers were disheartened when the Governor concluded his speech without mentioning it, prompting them to chant, “no, no, no, we no gree, pay us our minimum wage.”

Despite the interruption, Oborevwori stood firm, stating, “Listen to me, listen to me, calm down, calm down, you cannot cajole me.”

The celebration, which included a march past by various affiliate unions, turned sour due to the workers’ dissatisfaction with the governor’s silence on the wage issue.

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According to a union leader, previous attempts to address the matter with the Governor proved futile.

In response, Governor Oborevwori announced plans to establish a committee to address the workers’ demand for salary increases amidst prevailing economic challenges. He praised the workers for their support and assured them of his administration’s commitment to workers’ welfare.

“I have listened attentively to your requests, and I have taken note of them; they are, no doubt, legitimate demands and as a responsible government, I will deliberate with my team on how best to address them within the limits of the resources available to us,” he affirmed.

In a statement delivered by Comrade Goodluck Ofobruku, the State Chairman of the Nigeria Labour Congress, NLC, he emphasized the importance of politicians keeping their promises, stating, “We want promise keeper politicians because, as workers, we keep records of promises.”

Drama as Delta workers boo Gov Oborevwori over minimum wage

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Two million bank accounts closed over BVN, NIN, others

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8 hours ago

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May 2, 2024

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Two million bank accounts closed over BVN, NIN, others

Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number, NIN.

This is contained in a report by the Nigerian Interbank Settlement System, NIBSS, which also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

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However, details of the “Industry Bank Account Database”, a monthly data reported by banks, and compiled by the Nigerian Interbank Settlement System, NIBSS, also indicated that the number of active bank accounts grew by 6.62 million or 3.0 per cent to 219.64 million from 213.02 million in February.

Recall that in December 2023, the CBN issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper Biometric Verification Number, BVN, and National Identity Number, NIN, that are not linked by Thursday, March 1st, 2024.

According to NIBSS data on BVN enrollment count, 61.6 million Nigerians have BVN as of April 2024.

Two million bank accounts closed over BVN, NIN, others

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Senate insists on 16 years as requirement for tertiary institution admission in Nigeria

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8 hours ago

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May 2, 2024

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Senate insists on 16 years as requirement for tertiary institution admission in Nigeria

The Nigerian Senate has moved to clarify recent discussions regarding the minimum age requirement for admission into tertiary institutions. 

The red chamber assured Nigerians that the current age requirement of 16 years has not been altered and that recent comments suggesting an increase to 18 years were personal opinions.

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Chairman of the Senate Committee on Media and Public Affairs, Adeyemi Adaramodu, emphasised that any changes to the age requirement would require legislative action following due process. 

Adaramodu explained in an interview with journalists that comments made by the Minister of Education, Prof. Tahir Mamman, about increasing the minimum age limit were not legally binding but rather personal opinions.

The Minister of Education had previously hinted at plans to review and raise the minimum age for admission into tertiary institutions to 18 years.

Senate insists on 16 years as requirement for tertiary institution admission in Nigeria

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