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More Troubles for NPA Boss as Amaechi Inaugurates Probe Panel

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By Jude Opara, Abuja

Indications have emerged that the suspended Managing Director of the Nigerian Ports Authority, Hadiza Bala-Usman, has more questions to answer as the Minister of Transportation, Rotimi Amaechi, yesterday, inaugurated an 11-member probe panel to investigate the financial infractions allegedly perpetrated during her tenure.

Recall that President Muhammadu Buhari on May 6, approved the recommendations of Amaechi to set up an administrative panel of inquiry to investigate the management of the NPA under the stewardship of Hadiza, who haf been suspended from office.



Inaugurating the panel yesterday, Amaechi charged the panellists to be diligent in order to do a thorough job by using the terms of reference, which include “examining and investigating the administrative policies and strategies adopted by NPA’s Managing Director, Hadiza Usman, and confirm compliance with extant laws and rules from 2016 till date.

Others include “examine and investigate issues leading to the termination of other contracts of NPA and confirm compliance with the terms of the respective contracts,  court ruling and presidential directives.

“Examine and investigate compliance with communication channels, as obtained in the public service. “Examine and investigate the procurement of contracts from 2016 to date.

 “Come up with suggestions and advice that would strengthen the operations of NPA and forestall such occurrences in the future and any other matter that may be necessary for the course of the assignment.”

In his brief remarks, Amaechi noted that the decision to take a look at the books of the agency was in furtherance of the mandate of the ministry to oversee the activities of agencies and parastatals under its supervision.

 “This is in the discharge of our responsibility as a ministry and I don’t see why anybody is complaining. What is wrong in looking at what is happening in NPA? I don’t see what is wrong in that. As the Minister of Transportation for four years, I hardly know what is happening and I want to know now.

“The president agrees with me that it’s my responsibility as minister to find out  what is going on. It worries me that people are saying we should not ask questions. Nobody has been indicted”, he said..

PDP Wants Amaechi, Usman Sacked, Prosecuted

Meanwhile, the Peoples Democratic Party (PDP) has called for the immediate arrest, dismissal, investigation and prosecution of the Minister of Transportation, Rotimi Amaechi, as well as the suspended Managing Director of the Nigeria Ports Authority (NPA), Hadiza Bala Usman, over alleged looting of over N165billions in the agency.

The party equally challenged the Minister of Transportation to explain his reported connection in the alleged involvement of his wife, Mrs. Edith Amaechi, in the N48 billion contract scandal currently rocking the Niger Delta Development Commission (NDDC).

In a statement issued yesterday in Abuja, National Publicity Secretary of the PDP, Kola Ologbondiyan said the ruling-All Progressives Congress (APC) has turned the government agencies into a cash cow.

He also took a swipe at the government to have reacted very late to the issues that it claimed has become an embarrassment to the country.

“The foul stench of corruption oozing out of the NPA, NDDC and other agencies of government in the last six years has shown that our MDAs have become the cash cows and Automated Teller Machines (ATMs) of greedy leaders of the All Progressives Congress (APC) and their cronies in government in their unbridled looting of our patrimony under President Muhammadu Buhari’s watch.

“Our party asserts that the fact that it took the minister a clear six years (2016 to 2021) to query the NPA Managing Director over the alleged looting of N165 billion unremitted operating surplus of the agency, which is under his purview, is suspect and raises public belief that he (Amaechi) only acted apparently to shied himself after indicting audit documents had already been exposed.

“This is in addition to reports from the office of Auditor General which also unearthed the looting of unremitted deduction to Federal Inland Revenue Service (FIRS) amounting to N3,667,750,470. $148,845,745.04, Euro 4,891,449.50 and £252,682.14 under the suspended NPA Managing Director and Amaechi’s ministerial supervision.” 

The statement further claimed that an audit report also exposed another N15.18 billion allegedly siphoned through shady Corporate Social Responsibility (CSR) projects by the NPA, an agency under Amaechi’s ministerial purview.

“Our party insists that both the Minister and the indicted NPA Managing Director should be handed over to the Economic and Financial Crimes Commission (EFCC) for investigation and possible prosecution.

“Moreover, Nigerians are appalled that fingers of fraud allegation are also pointing to the wife of the Transport Minister in a N48 billion contract scam under the sacked NDDC’s Managing Director, Nelson Bambraifa, who was reportedly nominated into that position by the Minister of Transportation, Amaechi, but fired on allegations of corruption.”

The PDP stated that it was disgraceful that under the APC that promised to fight and end corruption, the public space is awash with revelations of sharing of government revenues “among concubines, wives, girlfriends and family members of top APC leaders”.

 Reps Urge EFCC to Investigate Hadiza

The minority caucus of the House of Representatives has called for the investigation into an allegation that suspended Chairman of Nigeria Ports Authority Hadiza Bala Usman, misappropriated over N165 billion of operating surplus, and also the diversion of funds running into billions of naira, by top officials of the Nigerian Port Authority (NPA).

The lawmakers described it as “another sad commentary on the brimming corruption in the APC administration, the mindless lootings of such stupendous resources at a time the country was writhing in the throes of worsening insecurity”. It, therefore, asked the Economic and Financial Crimes Commission (EFCC) to immediately “take in the indicted Managing Director, Hadiza Bala Usman, and commence a system-wide investigation with a view to prosecuting her, if found wanting”. The Caucus in a statement signed by the Minority Leader of the House of Representatives, Hon. Ndudi Elumelu (PDP- Delta) on Monday, insisted that “such huge economic crime against the nation, should not be left to an administrative panel of enquiry, but committed to an anti-graft agency for an independent investigation”.

The lawmakers expressed concerns that “by committing the alleged NPA looting to an administrative panel, political manipulations and partisan influences had taken precedence over what should have been a system-wide investigation into a monumental fraud”. According to them, “Our Caucus holds that the mere suspension of the indicted Managing Director of the NPA, Hadiza Bala Usman, and the resort to an administrative panel of enquiry even after the report by the Supervising Minister of Transport, Rotimi Amaechi, exposed an unremitted and possibly diverted operating surplus of N165 billion, amounts romancing and perfuming corruption by the APC-led Federal Government. “The Minority Caucus also believes that the recourse to an administrative instead of a full-scale criminal investigation can only serve as a decoy to shield some other APC government officials involved in the looting spree at NPA and other affiliated agencies in the transport sector. “This is because, apart from the unremitted N165 billion cited by the Minister, other documents and reports from the Office of the Auditor General of the Federation had also uncovered several sleazes, including unremitted deduction to Federal Inland Revenue Service (FIRS) amounting to N3,667,750,470. $148,845,745.04, Euro 4,891,449.50 and £252,682.14.

“This is in addition to audit query of N15.18 billion allegedly stolen through inflated Corporate Social Responsibility (CSR) projects/programmes under the watch of the suspended NPA Managing Director. “As representatives of the suffering people of Nigeria, our Caucus is particularly very worried that such monumental lootings are going on at a time terrorists, bandits, unknown gunmen, and criminal militias are reigning supreme across the length and breadth of the country and life has consequently become the cheapest article in the country. “We imagine that such resources if channelled to the security sector and well managed would have made a world of difference in addressing the problem of insecurity in the country”. The caucus added that” the APC administration had crippled the national economy and brought untold hardship and suffering to Nigerians and therefore demanded more drastic step by anti-graft agencies to recover the stolen funds as well as prosecute all involved in the looting spree. “It is a shame that a party that came to power with the promise of fight corruption, build the economy, and fight insecurity has ended up destroying whatever gains that were made before it came to power”.

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Again, Peter Obi Tackles Tinubu on Fuel Subsidy Removal

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By Andrew Oota, Abuja

Labour Party’s presidential candidate in the 2023 elections, Peter Obi, has said he would have removed the fuel subsidy and floated the naira, but in a “More organised and productive” manner.Obi, a former Anambra State governor, distanced himself from what he described as the Tinubu administration’s chaotic approach.

Speaking at an interview on a TV programme, he maintained that while the removal of fuel subsidy was necessary, the execution under President Bola Tinubu lacked foresight, clarity, and transparency, ultimately failing to improve the lives of ordinary Nigerians.
“I have consistently maintained that I would have removed the fuel subsidy,” Obi stated.
“But I would have done it in an organised way. The way it was handled lacked structure.“Everyone knew the subsidy regime was fraught with corruption, but removing it should have been followed by a clear plan for reinvestment in critical sectors.”Obi said his campaign manifesto included a detailed blueprint for eliminating subsidies while cushioning the effect on vulnerable citizens.He lamented the absence of visible reinvestment from the billions purportedly saved since the subsidy removal.“If we’ve saved all this money, where is it?” he asked. “Where has it been invested? In education? In healthcare? In transport? Nigerians deserve to know.”He also challenged the government’s rationale for floating the naira without addressing the country’s lack of domestic production.“There’s nothing wrong with devaluation or currency floating,” he said. “But you don’t do it in a vacuum. You need to be producing. Devaluation works when your economy is productive — when you have something to export and can attract investment.”According to Obi, the naira’s sharp depreciation without a corresponding increase in exports or local output has worsened inflation and the cost of living.“If your currency weakens and you have nothing to sell, you just make things harder for the people,” he warned.The former presidential hopeful argued that economic decisions, subsidy removal, and currency floatation should have been preceded by nationwide consultations, fiscal discipline, and a transparent national development plan.“You sit with operators and agree on a pricing structure. You map out where the savings will go. That’s how to win public trust,” Obi added. “Countries that have successfully removed subsidies didn’t just announce it overnight. They followed a clear strategy.”Obi’s remarks came at a time when Nigerians are increasingly frustrated with the soaring cost of fuel, food, and essential services.While Tinubu has urged Nigerians to bear the temporary pains with future gains in sight, critics said the government policies were plunging Nigerians into hardship by the day.In a swift response, the Presidency described Obi as a ‘shallow’ personality who is not well grounded in the issues of economics and governance.Special Adviser to the President on Policy Communication, Daniel Bwala, disclosed this in a statement posted via his official X account.While stating that he was surprised Obi could agree with the economic policies of President Bola Tinubu, especially on fuel subsidy removal and the unification of foreign exchange, Bwala emphasised that it was obvious the former Anambra governor and other opposition figures were simply after taking over power, all the while.He wrote, “Is anybody watching Peter Obi on Arise TV?” He agreed with our policy of removal of subsidy and unification of the foreign exchange; he claimed he would have done it better than us in an ‘organised manner’“He was asked what the ‘organised manner ‘ is.’ He played with words, yet to arrive at agreeing with us.“Anybody with a rational mind knows these guys are just looking to grab power, but they don’t have any alternative agenda.“He seems to have very shallow knowledge of economics and governance.“Remember, this is even an interview anchored by a member of his Obidient movement.“That’s why you don’t hear ‘I put it to you’ and no barking like a rottweiler; Yet ‘if it didn’t Dey it didn’t Dey,” Bwala said.

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Mokwa Flood: Niger Awards N7bn Road Contract, Commits to Resettle Victims

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From Dan Amasingha, Minna

The Niger State Government has awarded a N7 billion contract for construction of the Mokwa Raba Road and four bridges.The project aims to improve transportation and enhance connectivity, particularly for communities recently devastated by severe flooding.

Governor Umar Mohammed Bago announced the development during a visit to Tiffin Madza Primary School, where internally displaced persons (IDPs) are currently taking refuge.
The Governor who returned back to the Country on Sunday night after performing this year’s hajj, emphasized the need for the people to stay clear of waterways so as to protect the loss of life and properties.He reaffirmed the state’s commitment to rebuilding affected communities and restoring hope to displaced families.
As part of the government’s immediate response, the governor announced a 1 billion donation to fast-track the resettlement of those displaced by the disaster, which, according to the Niger State Emergency Management Agency (NSEMA), claimed over 200 lives and left more than 80 others injured.Bago also revealed that the state government has directed the Ministry of Lands to issue a Certificate of Occupancy to the Federal Government to facilitate the resettlement process.He noted that land has already been secured for the construction of permanent housing, which will include essential infrastructure such as health facilities, schools, and proper drainage systems with culverts to mitigate future flooding.The Governor added that the current IDP camp would remain in operation until the end of the month, saying, ” each affected family will receive financial support to cover rent while awaiting the completion of their new homes.“Additionally, 50 trucks of grains have been allocated for distribution to flood-affected families.“We cannot replace everything you have lost, but we are here to support you in every way we can.”He urged the people of Mokwa to set aside their differences and work together to rebuild their communities.He also called on Islamic school teachers to keep proper records of children under their care, particularly in times of emergency.Bago commended the Federal Government for its swift intervention and lauded the National Emergency Management Agency (NEMA) for its timely response.Providing an update on the disaster, Acting Director General of NSEMA, Dr. Hussain Audu Ibrahim, confirmed that 206 lives were lost, 82 people sustained injuries, and numerous homes were destroyed.He noted that several government agencies, NGOs, and elected officials have contributed donations and relief materials to aid recovery efforts.Bago was accompanied by the Deputy Governor, Comrade Yakubu Garba, Speaker of the State House of Assembly, Rt.Hon. Abdulmalik Sarkindaji, traditional rulers, including the Etsu Nupe, Emir of Agaie, and Emir of Borgu, members of the State Executive Council, and the Chairman of Mokwa Local Government, Abdullahi Jibrin Muregi.The delegation visited affected areas in Mokwa and Raba to sympathise with residents and advised communities to stay away from the riverbanks to avoid further casualties.Governor Bago offered prayers for the departed, stating, “Allah has destined everything, and He will comfort the people during this difficult time.”

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SEC Warns against Investing in Punisher Coin

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The Securities and Exchange Commission (SEC) has cautioned Nigerians against investing in a cryptocurrency called Punisher Coin, also known by the symbol $PUN.In a statement issued Sunday in Lagos, SEC said the presale was unauthorised and lacked regulatory approval, resembling a Ponzi scheme.

According to the statement, the promoters of $PUN are not registered to operate in any capacity within Nigeria’s capital market.
The Commission said: “Our attention has been drawn to online promotions of an unauthorised presale for a cryptocurrency called Punisher Coin, also known as $PUN.
“Of particular concern is an article by Daily Trust E-Paper titled: ‘Cryptos to Buy: Why Punisher Coin Could Join Avalanche and Chainlink.
’”SEC clarified that Punisher Coin and its promoters are neither registered nor approved to promote, launch, trade, or solicit investment from the Nigerian public.Preliminary investigations indicate Punisher Coin is a ‘meme coin’ — a type of digital asset often lacking tangible utility or a supporting project.Further findings confirm $PUN is indeed a meme coin, typically without real-world value, purpose, or technical foundation backing its existence.The value of such coins is usually driven by hype, social media trends, or promotional efforts by its creators and community.This makes them vulnerable to ‘pump and dump’ schemes — fraudulent tactics used to inflate and then crash a coin’s market price.In such schemes, promoters spread false hype, creating buying pressure, then sell off their holdings at the peak, leaving others with losses.After the promoters sell and stop hyping, the coin’s value usually plummets, causing unsuspecting investors to lose money rapidly.SEC noted these coins’ value is largely based on manipulation, not substance, with price swings driven by excitement and misleading claims.The public is therefore strongly warned against participating in the presale of Punisher Coin, as any investment is entirely at one’s own risk.The Commission urges investors to verify the legitimacy of any digital asset, its promoters, and platforms before committing funds.Verification can be done via SEC’s official portal: https://home.sec.gov.ng/fintech-and-innovation-hub-finport/registered-fintech-operators.(NAN)

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