Business
N6bn Kano Emirate Probe: ‘We’ve No Ulterior Motive’

The Kano State Public Complaints and Anti-Corruption Commission said the ongoing probe of alleged ‘questionable expenditures and financial misappropriation’ in the Kano Emirate Council has no political motive.
The Chairman of the anti-graft agency, Mr Muhiyi Magaji, made the clarification in an interview with newsmen in Kano on Tuesday.
“The investigation is not in any way politically motivated but was aimed at getting to the root of the allegations,” Muhiyi said.
He said the decision by the commission to investigate the complaints or allegations was borne out of the need to ensure fairness.
The agency in carrying out the probe, is fulfilling its mandate as established by the law.
“I wonder why people are questioning the reason behind the investigation and at the same time trying to pre-empt what is being investigated,” Muhiyi said.
He said that no amount of pressure would deter the commission from carrying out its duties, not even from the state governor, Dr Abdullahi Ganduje.
“I will not succumb to any pressure not even from the governor, Dr Abdullahi Ganduje. I will discharge my duties without fear or favour because I know I will account for my actions in the hereafter.
“Until and until the allegations of the whistleblowers are established or otherwise, people should not pre-empt the investigation,” said Muhiyi.
He called on Nigerians to continue to support the commission in the current fight against corruption in the state and the country at large in order to deepen good governance.
The Emirate Council is expected to honour the invitation of the state anti-graft agency on May 2 to explain how the alleged N6 billion was expended.
Recall that whistleblowers had written the commission over an alleged N6 billion expenditure incurred by the Emir of Kano, Mahammadu Sanusi II, since he ascended the throne in 2014.
“The commission is wading into the matter to establish whether or not Sections 120, 121 of the Constitution and Section 26 of the Public Complaints and Anti-Corruption Commission Law 2008 (as amended) of Kano State, dealing with public expenditure, had been complied with,’’ said the chairman.
However, reacting to the development, the Kano Emirate Council on Monday said it spent N4,314,476,542.94 since the revered first class traditional ruler assumed the throne.
The Walin Kano and the emirate council’s Finance Councillor, Alhaji Mahe Bashir Wali, told newsmen at the Emir’s Palace that the council had from June 8, 2014 to April 11, 2017, spent N4,314,476,542.94, and not N6 billion as alleged.
According to him, N1,893,378,927.38 was the exact amount inherited by the Sanusi II.
Giving the breakdown of the expenditures done during Sanusi’s three years in office, Wali said out of the N1.8 billion he inherited, N152,627,723.00 was paid to Dabo Gate Company for the procurement of furniture for the palace.
“This is because after the demise of the late emir, all his belongings, including the furniture were removed and distributed to his heirs in accordance with Islamic injunction. Therefore new furniture was purchased for Emir Sanusi,” Wali said.
The senior councillor added that the sum of N108 million was paid to the family of late Emir Ado Bayero by the council in respect of the late emir’s personal cars inherited by the present emir. The cars now belong to the emirate council.
Business
NCAA Certifies Elin Group Aircraft Maintenance

Business
SMEDAN, CAC Move To Ease Business Registration, Target 250,000 MSMEs

Business
Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
-
News1 day ago
2027: Tinubu’s Presidency Excites APC Stalwarts…As Group Berates NWC For Party Crisis In Bayelsa
-
Niger Delta1 day ago
Ewhrudjakpo Tasks CS-SUNN On Effective Nutrition Awareness
-
Sports1 day ago
Akomaka Emerges South South Representative Board Member In NCF
-
Sports1 day ago
Tottenham Salvage Point Against Wolves
-
Oil & Energy1 day ago
Increased Oil and Gas: Stakeholders Urge Expansion Of PINL Scope
-
News1 day ago
FG denies claims of systematic genocide against Christians
-
News1 day ago
UN Honours Ogbakor Ikwerre President General
-
Niger Delta1 day ago
Otu Reiterates Commitment To Restor State’s Civil Service