Business
Contract Scam: EFCC Closes Case Against UNEC Officials
The EFCC on Wednesday at the Federal High Court, Abuja,
closed its case against UBEC officials and contractors for an alleged N787
million contract award.
Mr Wahab Shittu, counsel to EFCC, closed the case for the
prosecution after Mr Usman Tahir, a prosecution witness, concluded his
evidence.
During cross examination, Tahir, a police investigator
attached to the EFCC, said that the minutes of the 5th Board Meeting which
approved the contract was fabricated.
The witness had told the court on May 15 that the contract
awarded by UBEC to an American company “was against the rules’’.
The prosecution witness further explained that the contract
was discussed at the 5th Governing Board Meeting of the Universal Basic
Education Commission (UBEC) based on misrepresentation.
Our correspondent reports that the anti-graft body is
prosecuting four UBEC directors, an American contractor, Inter-market USA LLC and
Inter-market Nigeria.
The accused persons are Molkat Mutfwang, Michael Aule,
Andrew Ekpunobi, Alexander Cozma and Prof. Bridget Sokan,
They were said to have deceived UBEC into awarding the
contract to Inter-market, USA LLC and Alex Cozma and N636 million was paid.
Earlier in the trial. Justice Abdul Kafarati had held that
the EFCC had established a case against the accused persons.
The judge adjourned the case to June 27.
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Business
Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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