News
N’Delta Youth Give NDDC Seven-Day Ultimatum Over Water Hyacinth Job
The youths of Niger Delta, yesterday, gave the Niger Delta Development Commission (NDDC), a seven-day ultimatum to commence payment to youths and other beneficiaries cutting across oil producing communities in the region, who executed water hyacinth contracts, an empowerment scheme of the interventionist agency, to avoid needless commotion in the region.
The youths, speaking under the auspices of the 21st Century Youths of the Niger Delta and Agitators with Conscience, urged the Professor Nelson Branbayefa-led NDDC Board “to do the needful and immediately commence the payment for the water hyacinth jobs before it leads to another unnecessary youth restiveness, loss of lives and property in the Niger Delta region.”
Leader of the group, self-styled “General” Izon Ebi, in a statement, yesterday, said that, “The water hyacinth job is the only little muscle thrown to the youths of the Niger Delta as a yearly empowerment scheme, which is their right and entitlement in order not to be lured or hoodwinked into crime and criminality.”
The youths alleged, “Almost all directors and top politicians who have slots in the water hyacinth job “have paid themselves and keep dribbling the youths,” adding, “previously, they issued award letters and your place of cleaning, but this board just collected our account and company details.
“We want to use this medium to warn that failure to commence the immediate payment of the water hyacinth within seven days will give us no choice but to mobilize all beneficiaries of the water hyacinth job and youths to shut down the NDDC until the plight of the youths and beneficiaries is addressed.
“Professor Nelson Branbayefa should be reminded that the NDDC was created by the sacrifice and blood of fearless and brave Ijaw youths of the Niger Delta and as such, the commission NDDC is not the fiefdom of his family members and APC party members, but for the entire Niger Delta people.
“We urge him to focus and adhere strictly to the core mandate of the commission and always carry the youths along to maintain the desired peace needed in the Niger Delta, which will lead to creation of jobs and empowerment of youths to become entrepreneurs and focus on the development of the Niger Delta as an interventionist agency,” he said.
According to the group, “It is so shameful that even the little muscle called water hyacinth is being hijacked to further frustrate and impoverish the teeming youths of the Niger Delta region that is blessed, but impoverished by their own leaders.
“Our warning and call to do what is right and just may sound like the normal empty threat. Those that want to test the resolve and our collective determination in our struggle for fairness and equity should pay deaf ears and test our will,” they added.
The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six Fintechs and some microfinance banks in major financial scams by allowing fraudsters to launder huge sums of money.
Director of public Affairs of the Commission, Mr Wilson Uwujaren, made this known at a press briefing at the commission’s headquarters in Abuja, yesterday.
According to him, the compromised institutions allegedly allowed cryptocurrency transactions worth N162 billion to pass through without proper due diligence within the 2024/2025 financial year.
He said that the financial institutions clearly compromised banking procedures and allowed the fraudsters to safely change their ill-gotten gains into digital assets and move them to safe destinations.
“A total sum of N18.1 billion was moved through the financial system without due diligence of customers by the banks.
“It is worrisome that investigations by the commission showed that cryptocurrency transactions to the tune of N162 billion passed through a new generation bank without any due diligence.
“Investigations showed that a single customer maintained 960 accounts in another new bank and all the accounts were used for fraudulent purposes.
“That is bad news but the good news is that following our intervention the commission has been able to recover N33.62 million, which has been returned to some of the victims.”
He explained that the scams were in two categories, adding that the first was a syndicate of fraudsters that employed an airline discount scheme to lure their victims.
He said that they advertised a discount system for the purchase of flight tickets of a particular foreign carrier.
“The payment module is designed in such a way that the victims’ payment is actually made into the account of the airline.
“After payment is made the passenger’s entire funds in his bank account are emptied.
“Investigations showed that more than 700 victims have been scammed so far, with a loss of N651 million,” he said.
According to him, investigations show that the scheme is being masterminded by a foreign national; the commission has so far recovered and released N33 million to victims of the fraud.
He said that another scheme involved a company named Fred and Farid Investment Limited, simply called FF investment, which lured Nigerians into a bogus investment arrangement.
“More than 200, 000 victims have been defrauded in this regard. A total sum of N18 billion was raked in through nine companies offering diverse investment packages.
“The companies are: Credio Banco Limited; Deliberty Rock Limited; Liam Chumeks Global Service; Ngwuoke Daniels Technology; and Icons Autos and Import Merchant.
“Others are : Newpace Technology Services Limited, Primepath Ways Ventures Limited, Kaka Synergy Network Limited and Sunlight Tech Hub Services Limited.”
He said that foreign nationals were behind the schemes, while there are three Nigerian accomplices who have been arrested and charged to court.
He said that the masterminds were on the run and efforts are being made to bring them to book.
“The Commission is calling on regulatory bodies to bring financial institutions to compulsory compliance with regulations in the areas of Know Your Customers (KYC), Customer Due Diligence (CDD), Suspicious Transaction Reports (STRs) and others.
“Deposit Money Banks, Fintechs, Micro Finance Banks found to be aiding and abetting fraudsters should be suspended and referred to the EFCC for thorough investigation and possible prosecution.
“Negligence and failure to monitor suspicious and structured transactions by banks should no longer be allowed,” he said.
While cautioning members of the public to be wary of these actors, he said that the EFCC would continue its works against money laundering by fraudulent actors.
Uwujaren urged financial institutions to firm up their operational dynamics and save the nation leakages and compromises bleeding the economy.
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