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Reps Probe Unclaimed Trillions of Naira in Commercial Banks, CBN Infractions

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In a related development, House of Representatives, yesterday also set up an adhoc committee to investigate unclaimed funds running into trillions of naira in commercial banks as well as infractions by the Central Bank of Nigeria (CBN).
The House also mandated the committee headed by Hon. Unyime Idem (PDP, Akwa Ibom) to investigate unremitted funds collected on behalf of Agencies and Departments of the Federal Government by Commercial Banks which it said runs contrary to the provisions of the extant laws.


The resolution followed the consideration of a motion presented by Dachung Bagos from Plateau State at the plenary.
In his motion, Bagos noted about 45.85 million bank accounts were yet to be linked after the introduction of the Bank Verification Number (BVN) was introduced by the Central Bank of Nigeria (CBN) in 2014.


He said: “About seven years after the introduction of the BVN into Nigeria banking system, about 45.85 million bank accounts across Nigeria are yet to be linked to BVNs as data released by the Nigerian Inter-Bank Settlement Systems (NIBSS) on June 23, 2021, disclosed that the total number of bank accounts in Nigeria as of May 2019 is pegged at 122.071 million and the active accounts as of May 2020 stood at 72.936 million.


“The commercial banks in Nigeria have adamantly disobeyed and continue to hold on to the monies out of failed transactions more than necessary, against the directives of the Central Bank of Nigeria and to the detriment of Nigerians.
“Despite the introduction by the Central Bank of Nigeria (CBN) of the Bank Verification Number (BVN) to curb the menace in the financial sectors, about 71 million customers still use their accounts without
the compulsory identification, per data from the Nigerian Inter-Bank Settlement Systems (NIBSS).


“The lack of legal regulatory framework and political will to deal with the unclaimed assets especially funds abandoned and trapped in commercial banks will continue to put Nigeria behind so many countries in the world that have developed the legal framework to deal with these assets.
“The recent disclosure about the funds collected by Commercial Banks on behalf of some key Ministries, Departments and Agencies (MDAs) of the Federal Government to the tune of N1.2 trillion, in revenues they generated but failed to remit to the Federation’s account since 2016, as required by law.
“Some commercial banks have refused to remit to the Government, fees and levies collected on behalf of Government agencies and Departments in the last 10 years.”
The lawmaker said that CBN has failed in its responsibility to oversight the commercial banks appropriately.


“Although the Central Bank of Nigeria has the statutory responsibility of regulating commercial banks in the country, they have failed in their responsibilities to carry out the necessary oversight on the commercial banks.
“The Central Bank of Nigeria has not been transparent in the implementation of its intervention programmes and projects, and has shown an almost zero level of accountability and transparency before the National Assembly in respect of funds generated both locally and internationally,” Bagos added.
The motion was supported when put to a voice vote, voted for, and adopted by the House.

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Edo Guber: Labour Party Unveils Campaign Council

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The Labour Party (LP) in Edo on Saturday,  announced its campaign council for the upcoming governorship election scheduled for Sept. 21.

The council, led by Rev. Sam Omede as Director-General and Dr Ehikioya Agboga as Deputy, will be inaugurated on May 13.

Other members of the council are Sen.

Ned Imasuen (Edo South) Reps Esosa Iyawe and Murphy Osaro Omoruyi (Oredo and Egor/Ikpoba Okha) federal constituencies respectively.

Mr Kelly Ogbaloi, State Chairman of the party unveiled the members of the campaign council while addressing journalists at the party’s secretariat in Benin.

This was after a stakeholders’ meeting of the State Working Committee with senatorial, local government leaders and executives across the 18 local government areas of the state.

Ogbaloi said: ” in preparation for the upcoming election, we have meticulously selected individuals of impeccable character to lead the State Campaign Council and local government campaign committees

He also appealed to members to leverage the forthcoming new voters’ registration exercise to expand the voter’s base as well as ensure broader participation in the electoral process.

“A robust membership drive shall be launched to attract new members and reconcile with  disenchanted individuals who have legitimate grievances,” he added.

The LP chairman said that Ken Omusi the party’s youth leader had been suspended from the party for anti-party activities, announcing Dan Ero from Oredo local government as his replacement

He added that the suspension  on some members, excluding Ken Omusi, had been lifted.

According to him,  a reconciliation committee will  be set up to ensure peace among aggrieved party members ahead of the election. (NAN)

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Nigerian Emerging Leaders: Kenneth Anetor Receives Recognition Award

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Kenneth Anetor, Executive Director of A New Thing International Foundation, has been honored with the prestigious Nigerian Emerging Leaders Award. His nearly decade-long journey in the non-profit sector had been marked by notable achievements and a passion for making a positive impact.

Kenneth’s extensive experience as a certified Trainer of the United Nations Office on Drugs and Crime, and as a holder of a certificate in Understanding Addiction from Harvard Medical School, had contributed to his well-respected status in the field.

He also recently completed a Diploma in Trans-Mental Health at El-Rohin University London.

In his leadership roles, Kenneth served as the Ambassador for the Senate Committee on Drugs and Narcotics and for the Federal House of Representatives Committee on Narcotic Drugs. In addition, he had been elected as the National Treasurer of the National Almond Producers, Processors, and Marketers Association of Nigeria (NAPPMAN), with a four-year tenure.

Kenneth’s collaborations with various organizations, including the Office of the First Lady of Nigeria, the National Drug Law Enforcement Agency, and the Nigerian Youth Parliament, demonstrated his commitment to reducing drug demand and fostering community development across Nigeria. His passion for health, education, gender rights, and youth development had been evident in all his efforts.

The award ceremony, held at the Oriental Hotel in Lekki, Lagos, had recognized the remarkable contributions of emerging leaders like Kenneth Anetor. This event celebrated those who had shaped the future of Nigeria, and Kenneth’s recognition had underscored his role in this movement toward positive change.

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CSOs Call for Massive Support for Anti-corruption Agencies in Nigeria

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The Civil Society Legislative Advocacy Centre (CISLAC) in collaboration with other Civil Society groups have called for holistic  support for anti-corruption agencies in the country to end corruption.

They said this at a news conference to discuss the state of corruption and malicious attacks on Anti Corruption institutions in Nigeria both at the national and sub national levels on Thursday in Abuja.

Mr Anwal Musa, the Executive Director, CISLAC, said there was the need to support the efforts of anti corruption agencies at grassroot and national level so that Nigeria could  have peace.

“We have observed with great concern, the malicious attacks and deliberate efforts to blackmail anti-corruption agencies through sponsorship influencers, incentivised opinion publications in some national dailies.

“Online and electronic platforms, all targeted at discouraging anti-corruption efforts and shielding the kleptocrats from thorough investigation.

“The pattern is clear, there is an unfolding plot of surreptitious moves to backpedal on the progress made by anti-corruption progress.

“Procurement of political appointments by some suspected or investigated looters who are serving under the current administration as ministers, legislators, or occupying leadership positions of the ruling party,” he said.
Musa added: “Has exposed anti-corruption work to serious setback and deliberate sabotage that cripple the efficiency of the anti-corruption agencies.

“So the fight against corruption is for all of us, it is for all Nigerians because the consequences has led us to the situation we have found our selves today.”

Prof. Jubril Ibrahim, Senior Partner, Centre for Democracy and Development said corruption in the country had reached an alarming stage.

Ibrahim said that the judiciary that was supposed to checkmate corruption had been bought over by enablers of corruption and increased corruption through bribery of judges.

“There has been consented war by corrupt people  to make sure that anti corruption agencies are unable to prosecute corrupt individuals and preventing such institutions from carrying out their mandate.

“We feel if we allow this destruction of the Nigerian state to continue we will not have a country and the risk is that the present tragedy of anarchy will prevail.

“We must stop this level of corruption form continuing to grow if we must survive as a country,” he said.

The Country  Director, Accountability Lab Nigeria, Mr Odeh Friday, said there was need to set up ethics and integrity department in every MDA to build public  trust.

He also called for the implementation of the Whistle Blowing Act to protect whistle blowers from been attacked by those they expose.

Mr Samson Itodo, Executive Director, Yiaga Africa, said upholding the rule of law was key to fighting corruption.

“Attacks on institutions that have the mandate of defending our democracy should not be encouraged,  it is reprehensible, unacceptable .

“When we attack these institutions especially when they act to advance public interest we are undermining trust and the rule of law,” he said.

The Convener, Good Governance (GGT) Team, Mr Tunde Salman said that the fight against corruption should be citizen driven and not government driven.

Salman said there was need to capacitate those agencies of government  that have the mandate to investigate corruption, adding that special attention should be given to them and technology should be deployed to reduce human interference.

The CSOs recommended that the National Judicial Council must diligently monitor its members and promptly remove any corrupt judicial officer found to be compromising the judicial system.

“This requires holding politicians accountable for their actions and inactions, strengthening institutions to combat corruption, and ensuring that the allocation of resources is done in a fair and equitable manner.

“We urge the ruling All-Progressive Party (APC) and other political parties to take decisive action in purging its ranks by denouncing and breaking support with their members who are currently being investigated by anti-corruption agencies.

“Adequate resource allocation to the anti-corruption agencies has become imperative to uphold their independence and enhance efficiency in the anti-corruption process.

“We urge I-G to promptly reinstate the police personnel withdrawn from the Kano State Anti-Corruption Commission, to facilitate the effective execution of Commission’s duties,” they said.

The news conference was jointly endorsed by 50 civil society organisations supporting anti corruption and Good Governance in Nigeria.(NAN)

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