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Recover Stolen Funds Rather Than Take World Bank, AfDB Loans, Falana Tells FG

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Lagos lawyer, Femi Falana (SAN) has urged the Federal Government to muster the political will and courage to recover over $200 billion stolen wealth of Nigeria withheld by some international oil companies instead of taking take a loan of $3.5 billion from the World Bank and the African Development Bank.

The request was contained in a letter dated April 8, 2016 addressed to the Minister of Finance and titled, “Request for the collection of outstanding revenue of $200 billion withheld from the federation account or stolen by looters”.

According to Falana, if the government refuse to accede to the request, “we shall have no alternative than to initiate legal proceedings at the Federal High Court with a view to restraining the Federal Government from further plunging the nation into external indebtedness.”

In his initial letter to the minister dated February 12, 2016, the lawyer urged the Federal Government to explore alternative sources of raising revenue to fund the 2016 budget instead of increasing the nation’s external debt of $64 billion.

He also requested the federal government to embark on the recovery of the revenue of $42 billion withheld from the Federation Account from 1999-2012 by some transnational oil companies, the Nigerian National Petroleum Corporation and other agencies of the federal government.

Falana said the minister in his reply in a letter dated March 17, 2016 gave assurance that the issues raised in our letter were receiving the attention of the Federal Government.

“We were therefore surprised to learn that the Administration had applied to the Chinese Government for another loan of $2 billion. In urging the Federal Government to desist from taking the loan of $2 billion from China or any other country we are compelled to advise the Federal Government to intensify efforts to recover the nation’s wealth which has been criminally diverted by a handful of local and foreign looters”, he said.

Falana advised government to direct the relevant agencies and the anti graft bodies to collect the stolen wealth and listed 17 areas where such funds will be collected.

According to him, “the National Extractive Industries Transparency Initiative has confirmed that from five cycles of independent audit reports of NEITI covering 1999-2012 the Nigerian National Petroleum Corporation (NNPC), some oil companies and certain agencies of the federal government had withheld $20.2 billion for the Federation Account.

The indicted oil companies and agencies should be made to remit the said sum of $20.2 billion into the Federation Account.

“In 2006, the Central Bank of Nigeria apportioned $7 billion out of the nation’s external reserves to 14 Nigerian banks. In 2008, the CBN also gave a bailout of N600 billion ($4 billion) to the banks”.

“On September 6, 2016 the NNPC announced that arrangements had been concluded to recover the sum of $9.6 billion in over-deducted tax benefits from joint venture partners on major capital projects and oil swap contracts. Since the NNPC is said to have recovered the said sum of $9.6 billion it should be remitted into the Federation Account”.

Metro News

Amotekun: Oyo Releases List Of Successful Applicants

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Amotekun: Oyo Releases List Of Successful Applicants
Amotekun: Oyo releases list of successful applicants

Amotekun Operation vehicles

The Oyo State Government has released the list of successful applicants for Amotekun Corps in the State.

The process of documentation for successful applicants is billed to commence on Tuesday at the Emmanuel Alayande College of Education.

Also Read: Stop Giving Us Awards… Challenge Us So We Can Sit Up, Wike Tells Journalists

This was contained in a statement made available by the State Commandant of the Amotekun Corps, Colonel Olayinka Olayanju on Saturday.

He indicated that all candidates are to check their names at their various local government headquarters or online through the Oyo State job portal.

 

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Zamfara Governor Commiserates With Victims Of Bandit Attack

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Zamfara Governor Commiserates With Victims Of Bandit Attack
Zamfara Governor Commiserates With Victims Of Bandit Attack

Bello Matawalle

Governor of Zamfara State, Bello Matawalle has commiserated with families of victims of the attack on citizens of Gidan Goga community by armed bandits.

The Governor assured that what is happening in terms of banditry attacks is not a security lapse but a momentary hiccup that will not be allowed to last.

Also Read: Governor Lalong says Plateau lost N75 billion to looters

He said the attack further exposed the desperation of the bandits who are experiencing heavy pressure from the offensive launched by security operatives in recent times.

“I want to assure our law obedient citizens of Zamfara State that the experience we are undergoing will not last. The bandits are experiencing our sustained pressure which they have reacted through cowardly and desperate attacks on innocent citizens,” Matawalle observed.

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Tech News

First celebrity Limited Edition Smartphone in Sub Sahara Africa: Davido Special Edition of Infinix NOTE 8

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Over the last few weeks, Infinix has floated its candy before the eyes of tech enthusiast intensifying their craving for the soon to be released device. Through several social media posts, Infinix has hinted on the imminent release of the NOTE 8 and we all can’t wait for the device to hit the shelves.

Although the proposed date for the launch in its initial teaser videos and banners have passed without
any launch, we have reasons to believe that the launch will take place sometimes this month.

However, here’s a more interesting news. Infinix is set to be the first smart phone company in sub Sahara Africa to launch a limited edition device with a celebrity. A special edition of the NOTE 8 will be released alongside the primal version of the NOTE 8 and the NOTE 8i. The special edition is  signed by Infinix’s brand ambassador David Adeleke, popularly known as Davido.

The available stock for the special Davido-signed edition is limited. However, interested shoppers can
get one for themselves at exclusive SLOT outlets nationwide and on their website Here. Exciting free
gifts are also available if you’re among the lucky few to buy this device while stocks last.

The Infinix NOTE 8 is targeted at the mid-to-high-end market segment and it comes with several
interesting features. The device on-boards a super-fast processor – the MediaTek Helio G80
processor, which supports ultra-fast gaming speed, stable graphics in-game, easy multi-tasking as
well as an all-round optimal performance.

The device also sports six cameras in total. It comes with a dual selfie camera which is cut out from its
super-wide 6.95inches screen. On the back, the NOTE 8 crams a 64MP super night shot camera for
amazing night shot photographs and other photography needs.

Many of Infinix loyalists and smartphone enthusiasts are already clearing their carts and lining up in
preparation for the launch of the Infinix NOTE 8. Now that there’s a special Davido edition in sight, the
queue might just be doubling up.

To stay ahead of interested shoppers and ensure that you’re one of the first to get your hands on this
special edition of the NOTE 8, follow Infinix on Facebook, Twitter, and Instagram at @Infinixnigeria.

You can also join their community of young and vibrant fans on XClub via the app on your Infinix
device or click on this link to download the app if you’re a non Infinix user.

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