Socio-Economic Rights and Accountability Project (SERAP) has sent petitions to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) requesting them to use their good offices and investigate the high levels of anomalies in the operations of Nigerian banks, other financial institutions, including the Central Bank of Nigeria, CBN in respect of the misappropriation of funds meant for arms procurement.
In the petitions dated 5 January 2016 and signed by SERAP executive director Adetokunbo Mumuni, the organization expressed “concern that while the CBN turned the blind eyes to corruption involving high-ranking government officials, it continues to engage in anti-poor policies such as introducing charges for use of Automated Teller Machine (ATM cards, and threatening to send to jail economically and socially disadvantaged citizens who use dollars for local transactions.”
“This inconsistent and discriminatory approach of penalizing the economically and socially disadvantaged citizens for minor infractions while showing no concern about the over N70 billion stolen arms purchase funds is unlawful as it is contrary to national and international anti-money laundering standards and best practices.
“SERAP believes that the CBN cannot absolve itself of complicity in the stealing of the over N70 billion and that this large-scale corruption would have been prevented had the CBN been alive to its leadership and supervisory roles in the implementation of anti-money laundering standards within its systems and in other banks,” the petitions read in part.
SERAP urged the Chairman of the EFCC Ibrahim Mustafa Magu, and Chairman of the ICPC Ekpo Nta to “urgently institute a joint probe of the roles played by the leadership of the CBN and other banks and financial institutions in the stealing of over N70 billion arms purchase funds.”
“SERAP believes that the efforts to identify responsibility for the heinous crimes committed against the Nigerian soldiers and their families should include the roles that banks and financial institutions played by aiding, abetting or failing to exercise due diligence to prevent the stolen funds from being stashed in their institutions, and thereby exacerbating the conflict in the Northeast.
“SERAP is seriously concerned about CBN’s commitment and ability to tackle high-level official corruption especially given that it was the CBN that facilitated, aided and abetted the emptying of the public treasury by the late General Sani Abacha. The CBN should have learnt from this experience and not allowed without questions the withdrawal of billions of naira within a short period of time by former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), and former Minister of Finance, Dr Ngozi Okonjo-Iweala.
“The CBN should have tightened up its systems after helping Abacha to steal billions of dollars from our commonwealth. Dasukigate suggests that the CBN has taken no action to improve its systems and due diligence.
“By allowing excessive withdrawals by Dasuki and Okonjo-Iweala, the CBN has helped to fuel corruption in the arms purchase budget, and thereby contributed to the unnecessary loss of lives of many Nigerian soldiers and displacement of millions of law-abiding citizens.
“The CBN’s longstanding complicity in money laundering also explains why it has failed to take action against domestic banks that are facilitating deposits of stolen public funds by Politically Exposed Persons or to encourage appropriate anti-corruption agencies to pursue financial institutions abroad for their roles in corruption and money laundering in Nigeria.
“Unless the CBN shows greater level of leadership and proactive supervisory authority, and takes its responsibilities seriously, corrupt politicians and high-ranking government officials will continue to find it easy to steal from the public treasury.
“The EFCC and the ICPC now have the chance to send a clear message to the leadership of the CBN and other banks and financial institutions that aiding and abetting corrupt government officials to steal from the poor will attract personal responsibility.
“The CBN ought to have blown the whistle, and filed reports with the appropriate anti-corruption agencies or other authorities. Assuming the CBN could not turn down the requests for withdrawals, it should have followed and monitored the spending of the funds. The CBN also should have been transparent in terms of the amounts of returned stolen funds kept with it. Nigerians have the right to know where stolen funds are being held and what they are being spent on.
“Nigerians have the right to know what roles the leadership of the CBN and other banks and financial institutions abroad played in aiding and abetting the stealing of the arms purchase funds.”
Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff
Kidnappers on Friday abducted the wife of Olugbenga Ale, Chief of Staff to Ondo State Governor, Rotimi Akeredolu.
According to reports, she was kidnapped around Owena after the Joseph Ayo Babalola University while on her way back to Ondo from Lagos State.
The police spokesman in the state, ASP Tee-Leo Ikoro, confirmed the news to Channels Television on Friday.
This development is coming about twenty-four hours after a first-class traditional ruler in Ondo State, the Olufon of Ifon in Ose local government, Oba Isreal Adeusi, was murdered by suspected kidnappers.
TECNO Stormed Computer Village with BBNaija’s OZO to Wrap up its Black Friday Sales Activities
The month of November is always known for its intense sales activities because the best deals of the year come
during the Black Friday Period. For TECNO, Africa Number One mobile brand, it was the time to reward its
customers with massive discounts and various gift items while also unveiling some of its new devices.
The brand in collaboration with SLOT stormed computer village as part of the events to wrap up its black Friday
sale activities, hosted BBNaija’s Ozoemena Chukwu to a hangout at SLOT Ikeja.
Fans and customers had a fun time interacting with the handsome celebrity while enjoying discount offers on
TECNO devices. Different deals and gift items were up for grabs as customers who made purchases at the store
enjoyed 50% discounts on Spark 5, Camon 16 Series and 100% cashback on the Spark 5 Pro.
The major highlight of the event was the presentation prizes to lucky winners. Customers who participated in
the spin the wheel game won gifts items such as Bluetooth Speaker; Power Bank and kettle while those who
participated in the Scratch and Win Promo won for themselves different deals ranging from 50% to 100%
TECNO also introduced two latest devices-the Spark GO 2020-powered by Google Android 10 Go Edition and a
TECNO POVA. POVA means ‘Powering Optimal Value and Ambitions’ is a rebrand of the popular battery series
formerly known as Pouvoir was inspired by the zeal to deliver budget-friendly smartphones with superior
The first of its kind 6.8-inch TECNO POVA, is powered by Mediatek Helio G80 octa-core processor and hyper-
engine game technology that transforms gameplay experience giving ultimate stability and a high refresh rate.
Additionally, users will benefit from the “Game Space,” “Game Mode,” and “Game Assistant 2.0” features,
allowing them to switch to the “do not disturb” function, a much-anticipated experience all gamers will
The TECNO POVA is also equipped with a power-packed multitasking effect ramped up by 6GB RAM and 128GB
of internal memory. The device also has a 6000mAh super big battery, 18W Dual IC Flash charger, a standby
time of 30 days and the ability to play music for 8 days straight, on just a single charge. It’s the perfect
smartphone offering a way to worry less about low battery.
The new devices are available for purchase this November and for the rest of November, customers will enjoy
amazing discounts, instant and mega prizes on TECNO devices.
BREAKING: Court Jails Rep Member For Lying
A member of the House of Representatives, Victor Mela has been sentenced to one-month imprisonment by a Magistrate Court in Wuse, Zone 6.
The lawmaker who represents Billiri/Balanga federal constituency was, however, given an option of fine.
Recall that on November 10 that a magistrate court found the lawmaker guilty of lying under oath while filling the CD001 INEC form prior to the 2019 elections.
The magistrate had, however, set a different date for sentencing of the lawmaker after his lawyer pleaded for leniency.
Mr Mela swore to an affidavit thrice, denying citizenship of another country whereas he has a British passport.
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