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Abacha’s Loot Balance Now $26m, £19m – FG



NEC-MEETINGThe Federal Government yesterday said the balance of the Abacha loot stands at $26m and £19 million.

The announcement was made at the end of the National Economic Council (NEC) meeting, presided over by Vice President Yemi Osinbajo at the Presidential Villa in Abuja.

The late military dictator, General Sani Abacha, is believed to have looted over $5 billion from the nation’s treasury during his stint as head of state from 1993-1998.

The issue of the Abacha loot came to the fore recently when it emerged that former Minister of Finance and Coordinating Minister of the Economy, Ngozi Okonjo-Iweala, gave approval for the withdrawal of $300m and £5 million from the loot’s accounts to former National Security Adviser (NSA) Col. Sambo Dasuki for arms purchase.

Accountant-General of the Federation, Alhaji Ahmed Idris, gave the figure in the accounts – as of last month – yesterday at the NEC meeting.

Addressing State House correspondents after the NEC meeting, Benue State Governor Samuel Ortom said: “We were briefed on the Abacha loot recovery.

“The Accountant-General of the Federation reported that the dollar account as at November 2015 ending has a balance of $26 million while the pound sterling has a balance of 19 million and 33 pounds.

“So that is where we are as at today”.

The Benue governor also said the Accountant-General briefed the NEC on the remittances of naira equivalent of foreign exchange remittances made into some revenue generating agencies, adding that the incidents were further being looked into.

Gov. Ortom said the practice was not allowed and that the Federal Ministry of Finance was working out the details, which would be forwarded to NEC.

Also speaking, Taraba State Governor, Darius Ishaku, said the Accountant-General informed NEC that the excess crude account stood at $2.26 billion and yielded an interest of $599.14 million as at November 2015

“The Accountant General of the Federation reported to council that the Excess crude account stood at $2.257 billion as at the end of November 2015.

“He also reported a slight change against the previous balance with an interest, which is due of $599,137,467 into the account as accrued interest”.

Governor Aminu Tambuwal of Sokoto State said Central Bank of Nigeria, CBN, Governor Godwin Emefiele, briefed the council on the updates in policy measures being adopted by the government to stabilise the economy.

He said the drop in oil price caused a lot of pressure on the foreign reserve, which stood at $29 billion.

Tambuwal said the CBN chief added that the apex bank reduced the cash reserve ratio from 25 per cent to 20 per cent.


Sanwo-Olu Names Building After Tinubu, Warns Youths Against Vandalism



Sanwo-Olu Names Building After Tinubu, Warns Youths Against Vandalism

Babajide Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos has named the newly built Apapa-Iganmu Local Council Development Area after the National Leader of the All Progressives Congress (APC), Bola Ahmed Tinubu.

This was made known in a statement by the Chief Press Secretary to the governor, Gboyega Akosile.

Sanwo-Olu also named the Agboyi-Ketu LCDA after the late Senator of Lagos East Senatorial District, Adebayo Osinowo.

He stated that the recent #EndSARS protests brought out the need for the government to double their efforts and prioritize youth development and empowerment.

Also Read: No Pardon For Rapists, Says Sanwo-Olu

The governor however warned youths against the destruction of the government’s assets built with public funds.

Sanwo-Olu disclosed that the decision of the council leadership in Agboyi-Ketu to name the edifice after Osinowo testified to the contributions he made to the development of the council.

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PDP Governor, Matawalle Commends Umahi For Joining APC



PDP Governor, Matawalle Commends Umahi For Joining APC

Dave Umahi

Governor of Zamfara State, Bello Matawalle, has commended Governor David Umahi of Ebonyi State, for joining the All Progressives Congress (APC).

Governor Matawalle who is a governor on the platform of the Peoples Democratic Party (PDP) attributed Mr Umahi’s decamping to “bad blood in the present Peoples Democratic Party.”

Also Read: Gov. Umahi Sacks Political Appointees From Ohaukwu LGA

Governor Matawalle made this comment in a statement issued by his spokesperson, Zailani Bappa, on Friday.

He expressed that he would rather commend Umahi for “his bold decision rather than condemn him because everyone feels welcome only in a house where he feels comfortable.”

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You Are A Worthy Successor, Aregbesola Tells Oyetola



You are a worthy successor, Aregbesola tells Oyetola

Aregbesola and Oyetola

Rauf Aregbesola, former Governor of Osun State and Minister of Interior, has described Governor Gboyega Oyetola as a worthy successor.

In a congratulatory statement in Osogbo on Friday to mark Oyetola’s second anniversary, the Minister said the Osun governor has weathered the storm of governance effectively.

Aregbesola wrote: “I write to congratulate you on the second anniversary of your administration.

“I look back with pride and nostalgia the hard-fought battle of your election and the continuation of progressive administration in the State of Osun.

Also Read: Oyetola Bans Sales Of School Uniforms

“There have been challenges along the line – the inclement national financial weather, the COVID-19 pandemic and others not so significant. But you have weathered the storm admirably and steadied the ship of state.

“The challenges will no doubt present a new format as you step into the third year. These are heightened political participation, pressure to deliver more dividends of democracy and increased demands from the political system. I have no doubt that you will cope nicely.

“Please continue to make the welfare of the people your biggest concern. They are the reason for the state. Without them there will be no government or any political office to occupy.

“Once again, congratulations, as I wish you a resounding success in office and every aspect of life.

“My kind regards to the good wife, Alhaja Kafayat Oyetola and the entire cabinet of the State of Osun.”

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