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Parade Bank Debtors, Group Urges EFCC

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The Coalition Against Corrupt Leaders (CACOL) has urged the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to parade all persons and institutions that are responsible for the travails of the five banks whose Chief Executives and Executive Directors where sacked the previous week by the Central Bank of Nigeria (CBN) to serve as deterrent to others.

The anti-graft Coalition of Civil Society Organisations noted that naming of those behind non-performing loans that caused the collapse of the frontline financial institutions is not enough but shaming and nailing them according to the law .

CACOL noted in a statement at the weekend that “the indicted persons and institutions that have for so many years deceitfully denied ordinary Nigerian citizens access to capital and honest loans to do their honest businesses that would have earned them decent living conditions should not be treated with better respect than are accorded common criminals that are daily paraded in chains by the EFCC, the police and other law enforcement agencies”.

The group noted that it is this untowardly acts of the presumed movers and shakers of the society that has turned otherwise honest Nigerian youths into criminals of all descriptions who make security of lives and properties of the innocent a mirage in their homes and on highways while their real tormentors fly around in private jets and move with myriads of security aides and bodyguards.

Noted CACOL “It is necessary for victims of these financial vampires to see faces of their adversaries in the media in handcuffs while sitting on bare floor so that when they appear in various communities, Churches and Mosques to donate billions of naira their victims and potential victims will despise, mock and pelt them with rotten tomatoes, sachet of water rather than welcome them with the usual pomp and pageantry”.

These people, according to CACOL “have committed offences that transcends economic and financial crimes but also crimes against humanity since their deeds or misdeeds would have sent many, including babies, pregnant women and other hapless citizens who could have contributed the mismanaged funds through their savings in banks, taxes etc to their untimely graves”.

Observed CACOL, “It is unfortunate that some managers of fraud who sometimes parade themselves as part-time clergymen (and women) junket about town in private jets (to show off what absolute opulence they live in) are allowed by anti-graft agencies, who are empowered to question sources of their astounding wealth, to dazzle ordinary citizens, who may be members of their congregation or constituencies but cannot afford to ride bicycles into further psychological agony with their display of unearned inordinate prosperity”.

“The present democratic experiment”, CACOL observed, ‘has only brought more agony to Nigerians than relief.” According to the Coalition, “the former and the present civilian administrations during the present republic have only worsen the condition of living of the average Nigerian in all areas that can be thought of – power, energy, education, health, economy, security or transportation etc”.

Quoting the Secretary of State of the United States of America, Mrs Hillary Clinton who said during her visit to Nigeria two weeks earlier that, “Today I am in Nigeria, a Country that produces 2 million barrels of oil a day, has the seventh-largest gas reserves of any country in the world but according to the United Nations, the poverty rate in Nigeria has gone up from 46 percent to 76 percent over the last 13 years”, the group noted that ten of those thirteen years were spent under the aforementioned regimes of both Chief Olusegun Obasanjo and Alhaji Umaru Yar’Adua.

CACOL finally urged the EFCC not to allow anyone of the culprits in this BankersGate go unpunished.

The Coalition seized the opportunity to remind the EFCC that CACOL had once commended the agency for securing about 70 convictions, and recovered about N50 billion within the first year of Madam Farida Waziri in office to show the Coalition’s solidarity with the agency in contrast to the scathing criticism it receives from several quarters.

It however warned that the Coalition will call its members out on the streets in procession to shame the EFCC should it fail to adequately shame the bad bank managers, bad bank debtors and their accomplices who have caused ordinary Nigerians so much misery by ensuring that they face the fullest wrath of the law.

The Coalition Against Corrupt Leaders (CACOL) has urged the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to parade all persons and institutions that are responsible for the travails of the five banks whose Chief Executives and Executive Directors where sacked the previous week by the Central Bank of Nigeria (CBN) to serve as deterrent to others.

The Coalition Against Corrupt Leaders (CACOL) has urged the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to parade all persons and institutions that are responsible for the travails of the five banks whose Chief Executives and Executive Directors where sacked the previous week by the Central Bank of Nigeria (CBN) to serve as deterrent to others.

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90% Of Money Laundered Via Real Estate, EFCC Reveals

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The Economic and Financial Crimes Commission (EFCC) says about 90 per cent of money laundering is done through the real estate sector.
The commission’s Chairman, Abdulrasheed Bawa, stated this while featuring on Channels TV’s Sunrise Daily, yesterday,
According to him, although the sector is monitored via the special control unit, more needed to be done.
According to Bawa, “One of the problems we have now is the real estate. 90 to 100 per cent of the resources are being laundered through the real estate.”
He said there are so many issues involved, but that they were working with the National Assembly to stop what he called “the gate keepers” as there would be reduction in looting if there is no one to launder the money.
Bawa, the EFCC boss, gave an example of a minister who expressed interest in a $37.5million property a bank manager put up for sale.
He said, “The bank sent a vehicle to her house and in the first instance $20million was evacuated from her house.
“They paid a developer and a lawyer set up a special purpose vehicle, where the title documents were transferred into.
“And he (the lawyer) is posing as the owner of the property. You see the problem. This is just one of many; it is happening daily.”
The EFCC chairman also revealed that he receives death threats often.
Asked to respond to President Muhammadu Buhari’s frequent “Corruption is fighting back” expression, Bawa said he was in New York, USA, last week, when someone called to threaten him.
“Last week, I was in New York when a senior citizen received a phone call from somebody that is not even under investigation.
“The young man said, ‘I am going to kill him (Bawa), I am going to kill him’.
“I get death threats. So, it is real. Corruption can fight back,” he said.
On corruption in the civil service, he said there were a lot of gaps, especially in contracts processing, naming “emergency contracts” as one.
Bawa said, “A particular agency is notorious for that. They have turned all their contracts to emergency contracts.”
However, he said, EFCC has strategies in place to check corruptions, one of which is “corruption risk assessments of MDAs”.
According to him, “I have written to the minister and would soon commence the process of corruption risk assessments of all the parastatals and agencies under the Ministry of Petroleum Resources to look at their vulnerability to fraud and advise them accordingly.”
Asked if the scope of corruption in the country overwhelms him, Bawa, the EFCC boss said, “Yes, and no.”

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We’ve Spent N9bn To Upgrade RSUTH, Wike Confirms

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The Rivers State Governor, Chief Nyesom Wike, says his administration has spent N9billion in upgrading structures and installation of new equipment at the Rivers State University Teaching Hospital (RSUTH).
He said the fact that 40 per cent of the 2021 budget of the state is dedicated to provision of quality healthcare delivery was a further demonstration of the priority placed on the sector.
Wike made the explanation at the foundation laying ceremony for the construction of a Renal Centre at RSUTH, last Friday.
The governor said he made promise to Rivers people that the best would be provided to them in all sectors of the society within his capability because of the mandate they gave to him.
“As we came on here, I just looked around and I see the changes in this teaching hospital. I can say that we have put not less than N9billion in this teaching hospital.
“If you look at the budget, the health sector alone, what it’s taking from the Rivers State Government is not less than 40 percent of the 2021 budget.”
Speaking further, Wike said the state government cannot afford to implement free medical service programme in the present economic circumstance.
While dismissing the request for a subvention for RSUTH, Wike, however, commended the chief medical director and his team for their commitment to turnaround the fortunes of RSUTH.
“I have never seen anywhere that health services can be totally free. They’re telling me that people who come here can’t pay. I have never declared that this state is going to take over the health fees of anybody.”
Also speaking, the former Minister of Transport, Dr. Abiye Sekibo, who performed the flag-off, noted that Wike’s achievements in the health sector in particular, surpass what former governors of the state had done.
Sekibo said that the governor has given equal attention to every section of the health sector by providing complete health infrastructure that was positioning the state as a medical tourism destination in Nigeria.
Earlier, the Rivers State Commissioner for Health, Prof Princewill Chike, lauded Governor Nyesom Wike for his interest in the health of Rivers people.
He noted that the renal centre, when completed, would become another landmark development project in the health sector that would handle and manage all kidney-related ailments.
In his remarks, the Chief Medical Director of the Rivers State University Teaching Hospital, Dr. Friday Aaron, commended Wike for approving the renal centre.
Aaron explained that chronic kidney disease was a major burden globally with estimated 14 million cases in Nigeria.
According to him, over 240,000 of these cases require renal replacement therapy in the form of dialysis and renal transplant.
The CMD said the building that would house the centre was expected to be completed in six months and consists of two floors.
The ground floor, according to him, would house the haemodialysis unit with eight haemodialysis machines.
He further explained that the first floor of the centre would house the surgical component where most of the sophisticated equipment for kidney transplant would be installed.
Aaron said Wike has released the funds required to build, equip the centre as well as for the training of personnel locally and internationally.

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Power Generation Falls 23% To 3,172MW

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Power supply in Nigeria has failed to improve on last week’s performance, as it fell by 22.9 per cent from peak generation of 4,115Megawatts on Saturday to 3,172.20MW as at 5pm, yesterday, latest data from the System Operator has shown.
According to the data, most power plants were operating far below capacity due to gas shortage with Olorunsogo Power Plant 335MW capacity; and Sapele Power Plant, 450MW capacity; completely out.
Egbin was generating at 746MW; Omoku 37.20; Omotosho (NIPP) at 105MW; while Afam was generating at 80MW.
The data showed that on the average power generation in the past seven days were 4,120.9MW on Sunday, June 6; 4,249.4 on Monday, June 7; 4,000.9MW on Tuesday, June 8; 3,720.7 on Wednesday, June 9; 3,517 on Thursday, June 10; 3,765MW on Friday, June 11; and 4,115MW on Saturday, June 12.
The International Oil Companies (IOCs), had last warned that despite Nigeria’s huge gas reserves a lot needs to be done to attract investment to the sector to develop gas reserves to boost power generation in the country.
Speaking at the just concluded Nigeria International Petroleum Summit, the Chair, Shell Companies in Nigeria/MD SPDC, Osagie Okunbor, said with 203trillion Cubic Feet of gas reserves, what was needed in the country is to deliver projects that would produce the gas.
“The challenge is not just growing the reserves but in producing these reserves for the benefits of our country. Essentially growing the reserves and delivering on the production is a function of two or three elements.
“I like to see infrastructure that is required for the development of these resources at two levels. Soft infrastructure is often the one that is more important than and that is the one that is actually drives most of what you see at site.”
“Soft infrastructure refers to the enabling environment and nothing pleases me as much seeing both the Senate President and the speaker of the house give very firm commitments about trying to pass the PIB this month.
“That is probably the big one of the enabling environment to provide the kind of stability we also need all sorts of other issues we need to that we have discussed severally in terms of sanctity of contract, stable policies and collaboration and I think we are well on our way there”, he added.

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