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Falana To Buhari: Recover $200bn Loot, Forget $29.6bn Loan

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President Muhammadu Buhari has been challenged to recover Nigeria’s alleged $200billion looted funds now trapped in foreign banks to fund his programmes instead of pursuing a foreign loan of $29.6billion that may throw the country into many years of debt repayment, and unending poverty.

Lagos-based human rights lawyer and Senior Advocate of Nigeria, Femi Falana, who gave the advise, also charged the Federal Government to deploy the recovered looted funds into concerted efforts to ameliorate the present economic recession, and restore confidence in the country.

Falana said he had written a letter to that effect to the Minister of Finance, Mrs Kemi Adeosun, urging her to focus attention more on strategies to recover the looted funds, and plough back such recovered funds into economic and infrastructure programmes and projects to rejig the nation.

The senior advocate of Nigeria, who spoke while delivering the 4th convocation lecture of Oduduwa University, Ipetumodu, Ile-Ife, titled, “The blessings of natural resource endowments and the curse of corrupt leadership: Critical perspectives on Nigeria’s state of the Federal Government’s move toward underdevelopment”, vehemently opposed the efforts to obtain the loan.

He stressed that at the end of the day, only 50 per cent of the amount will arrive Nigeria while generations yet unborn will suffer the repayment.

Falana also urged Federal Government to recover the looted wealth of the nation and prosecute the culprits notwithstanding their political affiliation, stressing that the payment and servicing of debts should be investigated, as the loans that gave rise to the debt were substantially diverted by public officers.

Speaking on the alleged trapped $200billion, he said: “Curiously, the Buhari administration has failed to address capital flight and round tripping by financial institutions, otherwise why has the government been reluctant to ask the Economic and Financial Crimes Commission (EFCC) to recover and sanction the oil and shipping companies which under-declared crude oil worth billion of dollars shipped from Nigeria, under the previous administration?

“Why has the Federal Government failed to recover the $20.2billion withheld from the Federation Account by the Nigerian National Petroleum Corporation (NNPC) and some oil companies from 1999-2012?

“Why has the Federal Government not inquired into the allegation that the sum of $25.4billion was laundered and illegally taken out of Nigeria by a telecommunications company?

“Why has the government failed to recover the looted wealth of the nation which has been traced to financial institutions in the West and the United Arab Emirates?

“Why has the Central Bank of Nigeria (CBN) failed to recover the $7billion deposited and N600billion bailout given to the commercial banks in 2006 and 2008, respectively?

“Instead of intensifying efforts to recover such huge funds among several others, the government is determined to take a loan of $29.6billion”, Falana queried.

He noted that there was enough money in Nigeria to make the people live happily forever, if not for the poverty of ideas of the leadership which has impoverished the generality of Nigerians.

 

 

 

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2023: PDP Govs Task NASS On New Electoral Law

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The Peoples’ Democratic Party (PDP) Governors Forum has tasked the National Assembly to immediately set up a conference committee to harmonize the two versions of the Electoral Act Amendment passed recently by the two chambers.
In a statement, yesterday, the Chairman of the forum and Sokoto State Governor, Hon Aminu Tambuwal, said any delay in the passing and assenting of the Electoral Act Amendment Bill will hamper preparations for the conduct of the 2023 polls.
The forum also charged the National Assembly to adopt the version of the bill passed by the House of Representatives, as it gives the Independent National Electoral Commission (INEC) the latitude to adopt electronic transmission of election results.
“The PDP Governors’ Forum requests the Senate and House of Representatives (House) Conference Committee when set up, to adopt the House version of the Electoral Act Amendment Bill on the issue of electronic transmission.
“It should be noted that Section 52(2) of the House version says, ‘Voting at an election and transmission of result under this Bill shall be in accordance with the procedure determined by the commission,’ and Section 52 (2) of the Senate version provides, ‘The commission may consider electronic transmission of results provided that the national coverage is adjudged to be adequate and secure by the Nigeria Communications Commission (NCC) and approved by the National Assembly.
“The Senate version which subjects the decision of INEC to deploy electronic transmission to the decision of the Nigerian Communications Commission and National Assembly is manifestly a usurpation of the powers of INEC and offends relevant provisions of the Nigerian Constitution that guarantees INEC’s autonomy and independence,” the opposition governors.
According to them, INEC has demonstrated capacity to transmit votes electronically with the introduction and deployment of the Biomodel Voters Accreditation System (BVAs), used in the recent bye-election in Delta State.
The PDP governors further charged the National Assembly conference committee on the Electoral Act Amendment Bill, to jettison the position of the House to compel all political parties to adopt one method of conducting primary elections.
“The forum is of the view that political parties should be allowed discretion to adopt either direct or indirect primaries in their Constitutions and in practice.
“The Senate version that retains the original provision in the Electoral Act should be adopted in the interest of the growth of our political parties and freedom of choice, the hallmark of a functional democracy.
“This intervention of the PDP governors is predicted on the need to ensure a free, fair and credible election, that strengthens Nigeria’s democracy, constitutionalism and rule of law. Only a credible election will guarantee accountability and good governance which Nigeria so desperately needs today,” the governors stated.

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Cholera: NCDC Records 46 New Deaths In One Week

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The Nigeria Centre for Disease Control (NCDC) says 46 new deaths linked to suspected cholera cases were recorded in the country in the past one week.
The NCDC said this via its officially verified website, yesterday morning, stating that the situation report was published based on data sent in by the 36 states of the federation and the Federal Capital Territory, for the respective reporting week.
It stated that eight states accounted for the new cholera fatalities.
The public health agency, in its epidemiological report for August 30 to September 5, said a total of 2,323 people had so far died as a result of suspected cholera infections in 25 states and the federal capital territory (FCT), since the beginning of 2021.
It stated that 1,677 cholera infections were recorded in 12 states within the period of one-week, bringing the total suspected cases to 69,925 as at September 5.
“In the reporting week, 12 states reported 1,677 suspected cases – Bauchi (566), Katsina (282), Sokoto (258), Yobe (183), Borno (179), Niger (94), Kaduna (66), Adamawa (34), Gombe (8), Kano (4), Kebbi (2), and Nasarawa (1),” the report said.
“There was a 58% decrease in the number of new suspected cases in week 35 (1,667) compared with week 34 (3,992).
“Of the cases reported, there were 46 deaths from Borno (13), Sokoto (12), Katsina (8), Bauchi (6), Niger (3), Kaduna (2), Adamawa (1) and Kano (1) states with a weekly case fatality ratio (CFR) of 2.7%.
“Twenty-five states and the FCT have reported suspected cholera cases in 2021. These are Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ekiti, Enugu, FCT, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Osun, Plateau, Sokoto, Taraba, Yobe, and Zamfara.
“As at September 5, 2021, a total of 69,925 suspected cases, including 2,323 deaths (CFR 3.3%) have been reported from 25 states and FCT in 2021.
“Two new states (Osun and Ekiti) reported cases, though with dates of onset in weeks prior to week 35,” it explained.
The NCDC added that the national multi-sectoral EOC activated at level 02 continued to coordinate the national response.
Cholera is a waterborne disease with a high risk of transmission where there are poor sanitation and disruption of clean water supply.
The wrong disposal of refuse and practices, such as open defecation, endanger the safety of water used for drinking and for personal use, thereby leading to the spread of water-borne diseases such as cholera, and without proper WASH, Nigeria remained at risk of cholera cases and deaths.

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Buhari Seeks Senate’s Approval For $4bn, €710m External Loan

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President Muhammadu Buhari, has asked the Senate to approve a fresh loan of $4,054,476, 863.00, €710million, and a grant of $125million to finance critical projects in the 2021 budget.
Buhari’s request was contained in his letter read by Senate President, Dr Ahmad Lawan, at plenary following the resumption of the upper chamber from its two-month annual vacation, yesterday.
According to the President, the request is an addendum to the proposed 2018–2021 Federal Government External Borrowing Rolling Plan earlier approved by the National Assembly.
He said that the projects listed in the addendum to the 2018–2021 Federal Government External Borrowing Rolling Plan are to be financed through sovereign loans from the World Bank, French Development Agency, China Exim Bank, International Fund for Agricultural Development (IFAD) and Credit Suisse Group, among others.
“In view of other emerging needs and to ensure that all critical projects approved by FEC as at June, 2021 are incorporated, I hereby forward an addendum to the proposed borrowing plan,” Buhari said.
The letter titled, ‘Addendum to the request for Senate’s concurrent approval of multilateral fund projects under the 2018-2021 Federal Government external borrowing (rolling) plan’ reads, “I write in respect of the above subject and to submit the attached addendum to the proposed 2018-2021 Federal Government external borrowing (rolling) plan for the consideration and concurrent approval of the Senate for same to become effective.
“The distinguishing Senate President may wish to recall that I earlier transmitted a request on the proposed 2018-2020 Federal Government External Borrowing Plan for the concurrent approval of the Senate in May, 2021.
“However, in view of other emerging needs and to ensure that all critical projects approved by FEC as at June, 2021 are incorporated. I hereby forward an addendum to the proposed borrowing plan.
“The projects listed in the addendum to the 2018-2021 Federal Government External Borrowing Rolling Plan are to be financed through sovereign loans from the World Bank, French Development Agency, China Exim Bank, International Fund for Agricultural Development (IFAD) and Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE), in the total sum of $4,054,476,863.00, plus €710million, and grant component of $125million.
“The Senate is kindly invited to note that the projects and programmes in the borrowing plan were selected based on positive, technical and economic evaluations and the contribution they would make to the socio-economic development of the country, including employment generation and poverty reduction as well as protection of the most vulnerable and very poor segments of the Nigerian society
“The Senate may also wish to note that all the listed projects in the addendum form part of the 2018-2021 External Borrowing Plan and covered both the Federal and States Government Projects and are geared towards the realization of the Nigeria Economic Sustainability Plan that cut across key sectors such as infrastructure, health, agriculture and food security, energy, education and human capital development and Covid-19 response efforts.
“I hereby wish to request for the kind consideration and concurrent approval of the Senate for projects listed in the addendum to the 2018-2021 Federal Government External Borrowing (Rolling) Plan to enable the projects become effective.”

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