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Constituency Projects Gulp N1trn in 10 Years – Buhari

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President Muhammadu Buhari in Handshake with the Senate President, Ahmad Lawan
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By Mathew Dadiya, Abuja

President Muhammadu Buhari has disclosed that a whopping N1 trillion has been spent on National Assembly constituency projects in the last ten years without convincing impact.

The President said this yesterday in Abuja at the National summit on ‘‘Diminishing Corruption in the Public Service’’ organised by the Independent Corrupt Practices and other Related Offences Commission (ICPC) in collaboration with the Office of the Secretary to the Government of the Federation.

Buhari said he was delighted that through the effort of ICPC some contractors were returning to site to execute projects hitherto abandoned and that project sponsors were being held to account.

He said the first phase report of tracking these projects by ICPC confirmed fears that people, at the grassroots, had not benefited commensurable with the huge sums appropriated for constituency projects.

 ‘‘It is on record that in the past ten years One trillion naira (N1trillion) has been appropriated for constituency projects yet the impact of such huge spending on the lives and welfare of ordinary Nigerians can hardly be seen.

‘‘The ICPC has my full support and the support of this government to hold fully to account contractors, complicit public servants and project sponsors who divert funds meant for constituencies or other people oriented welfare projects of our government or who by other means reduce the quality and value of such projects meant for our people, ” he said.

President Buhari, therefore, called on the National Assembly to fast-track the passage of the Special Crimes Court Bill, adding: ‘‘The fight against corruption is, of course, not only for government and anti-corruption agencies, but all arms and tiers of government must develop and implement the anti-corruption measures.

‘‘I invite the legislative and judicial arms of government to embrace and support the creation of Special Crimes Court that Nigerians have been agitating for to handle corruption cases.’’

President Buhari noted that the passage of the Bill was a ‘‘specific priority’’ of this administration’s Economic Recovery & Growth Plan 2017-2020.

Speaking on his recent directive to all agencies of government to enroll into the Integrated Payroll and Personnel Information System (IPPIS), the President directed ICPC to beam its searchlight on public institutions that are yet to comply.

He noted that the new directive on IPPIS was intended to halt the padding of personnel budgets and the diversion or misappropriation of capital budgets.

‘‘I am aware that the Commission recently conducted System Studies and Review of many MDAs to evaluate systems and processes relating to transparency and accountability in personnel and capital spending through which you successfully blocked over N9 billion from being diverted from 2019 personnel budget.

‘‘That was a proactive prevention measure. I have directed that all agencies of government must get on the IPPIS in order to eliminate the padding of personnel budgets.

‘‘I urge ICPC to beam its searchlight on all agencies yet to get on the IPPIS and our e-government platform in order to fully halt the padding of personnel budgets and the diversion or misappropriation of capital budgets,’’ he said.

The President also used the occasion, which marked the launch of the Constituency Projects Transparency Group (CPTG) Report Phase One, to reiterate his appeal to all well-meaning Nigerians to join in the fight against corruption.

‘‘The war against corruption cannot be won without prevention, enforcement, public education and enlightenment.

‘‘I encourage the ICPC and other law enforcement agencies to intensify their efforts in public education, enlightenment and engagement with citizens.

‘‘I also urge our development partners, civil society organizations, and the media to continue to support our efforts to strengthen ethical values and integrity in Nigeria,’’ he said.

On the activities of ICPC, President Buhari commended the new Board of the anti-graft agency for major enforcement and preventive initiatives including the System Study Review, tracking of Zonal Intervention Projects, otherwise called Constituency Projects, and collaboration with the National Social Investment Office.

On asset recovery, the President reaffirmed that his administration will continue to support anti-corruption agencies to recover all ill-gotten wealth and prosecute offenders, adding that all fully recovered physical assets will be sold and the proceeds remitted to the treasury.

‘‘Enforcement activities by anti-corruption agencies continue to reveal that some public officers possess properties and assets way beyond their legitimate sources of income.

‘‘Asset recovery cases in court also reveal that some of these criminally minded public officials are quick to disown these properties during investigation and in court.

‘‘Recovered assets will continue to be deployed in the provision of needed infrastructure and social welfare programs.

‘‘The National Social Investment Program is already utilizing recovered funds to touch the lives of vulnerable Nigerians.

‘‘I, therefore, commend the partnership between the ICPC and the National Social Investment Office to ensure that beneficiaries of government social intervention programs are not short-changed along the line by unpatriotic officials,’’ he said.

President Buhari, who described corruption as the cause of many major problems in our country, said ‘‘it is a catalyst for poverty, insecurity, weak educational system, poor health facilities and services and many other ills of our society.

‘‘This government is working hard to overcome such ills. Corruption generally and public sector corruption in particular, inhibits the ability of government to deliver infrastructure and basic services to the people.

‘‘That is why I have reiterated on many occasions that corruption is an existential threat to Nigeria.

‘‘Corruption is furthermore, a major threat to the attainment of the Sustainable Development Goals and the socio-economic transformation we are all working hard to bring about in Nigeria.’’

The highpoint of the event was President Buhari’s presentation of Integrity Award to Assistant Comptroller-General of Customs, Bashir Abubakar and Mrs Josephine Ugwu of the Federal Airports Authority of Nigeria (FAAN).

Abubakar, rejected $412,000 (N150 million) per container bribe offered to him by drug traffickers to import 40 containers laden with Tramadol.

Ugwu, a former cleaner at the Murtala Mohammed International Airport (MMIA), Lagos had on different occasions returned millions of naira found in the course of her duty, including the sum of $12 million forgotten in the toilet by an airport user.

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CBN Reduces Banks’ Lending Rate to 50 Percent

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) yesterday announced a review of the loan-to-deposit ratio (LDR) for banks from 65 percent to 50 percent to align with the current monetary tightening.

LDR is used to assess a bank’s liquidity by comparing its total loans to its total deposits.

An increase in the loan-to-deposit ratio allows banks to expand their credits to businesses and individuals, however, a decline in LDR reduces their ability to loan customers from depositors’ funds.

CBN disclosed the increase in a circular titled “Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy”, signed by Adetona Adedeji, CBN Acting Director, Banking Supervision Department.

“Following a shift in the b  ank’s policy stance towards a more contractionary approach, it is imperative to review the loan-to-deposit ratio (LDR) policy to align with the current monetary tightening by the CBN,” the apex bank said.

“Accordingly, the CBN has decided to reduce the LDR by 15 percentage points to 50%, in a similar proportion to the increase in the CRR rate for banks.

“All DMBs are required to maintain this level and are further advised that average daily figures shall continue to be applied to assess compliance.”At the last monetary policy committee (MPC) meeting on March 26, the CBN retained the CRR at 45 percent and the liquidity rate at 30 percent.

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EFCC, Police, Guards in Battle of Supremacy over Yahaya Bello

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By David Torough, Abuja

Gunshots rented the air as officials of the Economic and Financial Crimes Commission (EFCC) yesterday invaded the Abuja residence of the immediate past governor of Kogi State, Yahaya Bello in a bid to arrest him.

The plot is at 9 Bengazi Street, Zone 4, Wuse District, Abuja.

Officers of the Nigeria Police Force and armed men dressed in black with the inscription “Special Forces” prevented operatives of EFCC from picking up the former governor of Kogi State, saying he had secured a court injunction against arrest by EFCC.

EFCC arrived Bello’s home at about 9:30am.

After hours of failed attempt to arrest Bello, the security operatives reinforced with backup support from the police and Department of State Services (DSS).

They were about seizing Bello when the governor of Kogi State, Usman Ododo arrived the premises.

Ododo spent few minutes and was zooming out when it was reported that he was driving out with Bello in his (Ododo’s) car.  

Quickly, operatives opened fire causing protesters, journalists, onlookers and passers-by to scamper for safety.

Ododo and some security personnel as well as supporters showed up at Bello’s house around 2:30pm to voice their opposition to the invasion of Bello’s house.

Operatives blocked the roads leading in and out of the street causing traffic jam around the area.

Ododo arrived at Bello’s residence at about 2:30pm alongside several security operatives and youth supporters protesting against the siege to the ex-governor’s place.

EFCC has always had it rough while on mission to prosecute highly placed individuals especially formers governors.

While some of them resist arrest, some run to court to secure perpetual injunction against arrest.

Former Governor Peter Odili got a perpetual injunction against arrest.Rabi’u Kwankwaso, Abdul’aziz Yari, Bello Matawalle and others got restraining orders against EFCC.

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Ayu Withdraws Suit against Removal as PDP Chairman

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The National Executive Council (NEC) meetng, the National Working Committee (NWC) of the Peoples Democratic Party (PDP) has passed a vote of confidence on its Acting National Chairman, Umar Damagum.

The party’s spokesman, Debo Ologunagba announced in a statement that the NWC took the decision at the end of its 584th meeting on Tuesday in Abuja.

He said the decision was reached in commendation of the efforts and commitment of Damagum’s ability to stabilize and reposition the PDP as the main opposition party in the country.

The party’s national executive meeting was slated for Thursday and the purpose of the meeting was to either affirm or replace Damagun.

 “The Deputy National Chairman (South), Amb. Taofeek Arapaja presided over the motion for the Vote of Confidence on the Acting National Chairman, which was moved by the National Vice Chairman (South East) Chief Ali Odefa and seconded by the National Treasurer, Hon. Yayari Mohammed,” Ologunagba said.

Earlier, attempt to pass a vote of confidence on Damagun during the party’s caucus meeting in the House of Representatives on Tuesday met stiff resistance.

Lawmakers loyal to the party’s Acting National Chairman and FCT Minister, Nyesom Wike attempted to pass a vote of confidence on Damagun but were blocked.

The meeting convened by the Leader of the Caucus and House Minority Leader, Hon. Kingsley Chinda was held for about two hours at the National Assembly, Abuja ahead of today’s NEC meeting.

Last week, a group of 60 PDP federal lawmakers threatened to quit the party if the doctored list of Caretaker Committees in Rivers and 10 other states which was filled with members and loyalist of the All Progressive Congress (APC) is not nullified.

The group under the aegis of Opposition Lawmakers Coalition also demanded the resignation of the Acting National Chairman to pave way for a north-central person to emerge as Acting National Chairman of the party pending the conduct of convention as required by the party’s constitution.

Damagum was appointed the Acting National Chairman in 2023 following the suspension of the former chairman Iyorchia Ayu.

Ayu yesterday withdrew his appeal suit against the PDP and Terhide Utaan who took Ayu to court restraining him from parading himself as the National Chairman following his suspension by his ward.

The Withdrawal of Appeal was contained in Appeal No: CA/MK/88/2024 before the Court of Appeal in Makurdi dated April 15, 2024.“Take notice that the appellant in pursuant herein intends and does hereby wholly withdraws his appeal against all the respondents filed on 27th day of June 2023 vide notice of appeal dated the 26th day of June 2023,” the document reads.

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