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$500m Abacha Loot reportedly goes Missing

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$500 million recovered from the slush accounts of Sani Abacha in foreign countries during the Goodluck Jonathan administration has disappeared, The Nation reports.

The money was reportedly released to the Nigerian government after negotiations with foreign governments, the agreements including that the Nigerian government would employ the recovered funds in developments, including infrastructure such as roads, water, healthcare and education.

The Economic and Financial Crimes Commission (EFCC) has reportedly found that $500 million out of the recovered funds cannot be accounted for.

Of the $500 million, the sum of $250 million has reportedly been discovered by the EFCC to have been released to the Office of National Security Adviser (NSA)while Sambo Dasuki headed the office.

The fact sheet of the investigation, as seen by The Nation, reveals that the $250 million was withdrawn between March 2, 2015 and April 21, 2015.

$36,155,000 was reportedly found to be withdrawn “without any purpose” on March 2, 9, 16 and 18, 2015.

The fact sheet also revealed that the office of the NSA, in a memo dated January 12, 2015, requested that the former Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, remit the sums of $300 million and £5.5 million.

“Please refer to our meeting on recovered funds. You are please requested to remit the sum of $300m and £5.5m to the following account being ONSA share as agreed. Account name: CBN (NSA Foreign Operation; Account number: -100367-USD-CABANK30

Bank Address: 28, Finsbury Circus, London.

Please accept the assurances of my highest esteem,” the fact sheet read.

In a memo dated January, 20, 2015, the former coordinating minister for the economy, Okonjo-Iweala, wrote to the President asking for the approval of the remitting of the sum of $300 million to the office of the NSA, the fact sheet read.

Attached,  please find a request by the NSA for the transfer of $300m and British pounds (£5.5m) of the recovered Abacha funds to ONSA operations account. The NSA has explained that this is to enable purchase of ammunition, security and other intelligence equipment for the security agencies in order to enable them confront the ongoing Boko Haram threat.

His request is sequel to the meeting you chaired with the committee on use of recovered funds where decision was made that recovered Abacha funds would be split 50-50 between urgent security needs to confront Boko Haram and development needs (including a portion for the Future Generations window of Sovereign Wealth Fund).

This letter is to seek your approval to borrow these funds, for now, to disburse to the NSA. These funds form part of projected FG Independent Revenue to be appropriated.

In light of this and for accountability, given the peculiar nature of security and intelligence transactions, we would expect the NSA to account to your Excellency for the utilisation of the funds.

The former president Goodluck Jonathan had reportedly replied to the memo, writing: “CME/HMF, approved.”

However, it has reportedly been discovered by the EFCC that only $250 million of the $300 million requested by the office of the NSA was remitted.

An EFCC source who spoke to The Nation under the condition of anonymity said Okonjo-Iweala would be contacted to explain the contents of her letter. The source said:

We will need to interact with the former Minister of Finance, Okonjo-Iweala, to guide us on the contents of her letter,  especially on the legality of the withdrawal of the $250million.

We will find out  what she meant by to ‘borrow these funds’ and these ‘funds form part of projected FG Independent Revenue to be appropriated.’ She should assist investigators on whether or not the ex-NSA accounted to Jonathan for the ‘utilization of the funds.

 

-Tori

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Shehu Sani Mocks FG Poverty Alleviation Scheme

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Shehu Sani Mocks FG Poverty Alleviation Scheme
Shehu Sani Mocks FG Poverty Alleviation Scheme

Shehu Sani

Civil Rights activist and former Senator representing Kaduna Central Senatorial district, Shehu Sani has mocked the President Muhammadu Buhari-led administration plan to lift Nigerians out of poverty.

Recall that President Buhari administration has constantly reiterated plans to lift 100 million Nigerians out of poverty in 10 years.

Also Read: #EndSARS: Hoodlums vandalize Senator Gershom Bassey’s family house in Calabar

However, the last few days have seen Nigerians discover warehouses where COVID-19 palliatives are stored by state governments which have led to the raiding of the warehouses by Nigerians.

Reacting to the development, the former lawmaker described the move to be the consequence of Nigerians being tired of having to wait for 10 years to be lifted out of poverty.

See his tweet below:

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Nigerians React As Festus Keyamo Shades Youths Over #EndSARS Protests

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Festus Keyamo
Festus Keyamo

Festus Keyamo

Nigerians have expressed their distaste for the tweet posted by Festus Keyamo over the #EndSARS protests that has led to lives and property being destroyed by hoodlums.

The Minister of State, Labour & Employment took to his Twitter page on Friday morning to post a tweet that reads thus:

“This morning, I woke up and remembered the African proverb: WHAT AN OLD MAN CAN SEE SITTING DOWN, A YOUNG MAN CAN’T SEE EVEN IF HE CLIMBS THE HIGHEST IROKO TREE. Good morning, Lagos. Good morning, Nigeria.”

Read AlsoMinister Of Labour, Festus Keyamo Backs #EndSARSProtest

A Twitter user identified as Adesina Oluwafemi berates the SAN for being a part of bad governance. “Mr. Keyamo. I am astonished at your statement. I am equally as old as you are if not older and I feel the pain of this our youth. I even have classmates that I can’t boast of. All these is because of bad governance which u are a part of“, he wrote.

See tweets below:

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Nigerians React As Army Says Videos Of Lekki Shooting Are Photoshopped, Fake

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Nigerians React As Army Says Videos Of Lekki Shooting Are Photoshopped, Fake
Nigerians React To Defence Spokesperson's Statement That Videos Of Lekki Shooting Were Photoshopped

John Eneche

Nigerians have reacted to the video of Nigeria’s defence spokesman, John Eneche, saying that the videos of the Lekki Tollgate shooting were photoshopped. In the video, he said it was analysed and the analyst concluded that they were all doctored.

His statement has generated reactions from Nigerians. Taking to Twitter, many Nigerian users on the micro-blogging platform have dismissed his statement as false because it is impossible to photoshop a live video on Instagram.

Read AlsoEnd SARS: Gen. John Enenche Reacts To Lekki Toll Gate Shootings

Information Nigeria recalls DJ Switch was hailed by Nigerians for her bravery as she waited at the scene of the incident to give everyone a live footage via her Instagram page.

A user identified as Tolani tweeted:

“Dear generation old Nigeria… you cannot photoshop Instagram live. Your ‘analyst’ has 419’d you sir.”

See tweets below:

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