COVER
NDDC so Corrupt, Treated Like ATM – Akpabio
Minister of Niger Delta Affairs, Godswill Akpabio has bemoaned the rate of corruption in the Niger Delta Development Commission(NDDC) saying the intervention was being treated like an Automated Teller Machine(ATM).
The minister said the NDDC has been noted for substandard and abandoned projects, in its entire history.
“We currently have about 12,000 abandoned projects across the nine states of the Niger Delta.
If those things were completed, you can imagine that the area would have been turned into an Eldorado,” he said.“There is no way NDDC road can last (for) even two years,” he said.
“I think people were treating the place as an ATM, where you just walk in there to go and pluck money and go away, I don’t think they were looking at it as an interventionist agency.
”Mr Akpabio, a former senator and governor of Akwa Ibom State, spoke on how corruption and political interference have bogged down the NDDC.
“Even the idea of giving out a job to somebody who does not have the requisite skills is corruption on its own. The idea of bloating the contract is also corruption. Even collecting money and abandoning the site is also corruption.
“We have also had a lot of political interference, people have not allowed NDDC to work as it ought to, people coming with ideas not to move the region forward but to move their pockets forward. It has always been so.”
He said the situation of things in the NDDC justifies President Muhammadu Buhari’s recent order for a forensic audit of the agency.
“I believe by now, people would have realised that the president is justified in calling for a forensic audit of the commission.
“I wonder why the leaders in the past didn’t find it necessary to look into the activities of the NDDC, with a view to repositioning it. There is nobody that will be happy to see this kind of situation.
“I don’t associate myself with failures. I believe that if you are given the opportunity to serve, you must leave the place better than you met it.”
The minister vowed to change the fortunes of the NDDC and the region.
“Even from the time my name was announced by Mr President, chiefs from Rivers State and different areas, even in Ondo, were jubilating because they believe that change has come to the Niger Delta region.
“I believe that my appointment is as a result of the pain and the agony Mr President felt in terms of not seeing things on the grounds.
“I don’t like people to look at my lips, I’ll like them to look at my records. I am also from the Niger Delta region, and I had the opportunity of being a governor for eight years, and I did my best. Some of the roads I did 11 years ago are still functional till today, no potholes on them.”
He said the federal government has already terminated certain contracts they felt would lead to wastages in the commission and that he expects a fightback from people who did not want to see the system cleaned up.
He explained the steps he would take to reposition the NDDC.
“We will start with budgeting. The budgeting process in NDDC has been warped. When you have a project that should take N30 billion in a year and you go and put N5 billion (in the budget), it means you intend to complete that project in maybe six or seven years, and there is no regime that would have that kind of tenure.
“So we will start from budgeting, we will put money where we actually want to complete projects. We will not spread thin where we want to make sure every village has something and at the end of the year, they have nothing.
By Eze Okechukwu, Abuja
Senate yesterday set up a seven-member ad-hoc committee to investigate the circumstances surrounding the lack of completion of the $18.5billion Abuja Centenary Economic City project, a decade after commencement.The Upper Chamber tasked the committee to review the original Public Private Partnership agreement and recommend amendments if necessary to facilitate the smooth and expeditious completion of the project.
The Senate also urged the Federal Government to prioritise the revival of the Centenary City project by providing appropriate support, resolving regulatory issues and addressing any other impediments, given its beneficial potential to the economy and people of Nigeria after 10 years of stalled progress. The resolutions of the senate followed its consideration of a motion titled: “Urgent need to revive and complete the stalled Centenary City Project, to realise its economic and development potential” during plenary yesterday.The motion was sponsored by the Deputy Senate Leader, Senator Ashiru Yisa (APC – Kwara South).Senator Yisa in his lead debate urged colleagues to note that the Abuja Centenary Economic City project commenced in 2014 through a public private partnership to develop a modern city in the mood of Dubai, to commemorate 100 years of Nigeria’s amalgamation celebration.The Abuja Centenary Economic City Project was to be built according to the model and standard of global smart cities like Dubai, Monaco and Singapore.President Goodluck Jonathan laid foundation for the project on February 27, 2014 with a funfare.After Jonathan was defeated in the 2015 general elections, the succeeding Muhammadu Buhari administration put a halt to the project.The project driven by private investors was launched to mark the 100th anniversary of Nigeria costing $18b with 10–15 years completion period.
By Tony Obiechina, Abuja
The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC).This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday.
Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”. “The measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy,” a statement titled ‘CAC, PoS Operators Agree to Two-Month Deadline to Register Their Agents and Merchants to Strengthen the Fintech Industry”, the CAC added.He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.Magaji explained that the timeline for the registration which will expire on July 7, 2024, was not targeted at any groups or individuals but aimed at protecting businesses.Several speakers from the Fintech industry pledged to collaborate with the commission to ensure hitch-free implementation of the directive.Some of them, however, stressed the need for adequate and collective sensitisation, to ensure that the exercise achieved the desired results.The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter, in his remarks, pledged to ensure smooth facilitation of the process in line with the Renewed Hope Initiative of the present administrationThe representatives of Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.
By Tony Obiechina, Abuja
Central Bank of Nigeria (CBN) has exempted 16 items from the 0.5 per cent Cybersecurity levy on all electronic transactions.CBN had directed banks to begin charging 0.5% cybersecurity levy on transactions as part of efforts to contain the rising cybercrime threats in the financial system.
According to the Apex Bank, deducted funds will be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA). A circular released by the CBN on Monday directed all commercial, merchant, non-interest and payment service banks to comply with the directive.The circular revealed that it was a follow-up on an earlier letter dated June 25, 2018 (Ref: BPS/DIR/GEN/CIR/05/008) and October 5, 2018 (Ref: BSD/DIR/GEN/LAB/11/023), in compliance with the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015.Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, a levy of 0.5 per cent (0.005) equivalent to half per cent of all electronic transactions value by the business specified in the Second Schedule of the Act is to be remitted to the National Cybersecurity Fund, which the Office of the National Security Adviser shall administer.The exemptions included loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, intra-bank transfers between customers of the same bank, and Other Financial Institutions (OFIs) instructions to their correspondent banks.The exemption also applies to interbank placements, banks’ transfers to CBN and vice versa, inter-branch transfers within a bank, cheque clearing and settlements, and Letters of Credit (LCs).Others include banks’ recapitalisation-related funding only bulk funds movement from collection accounts; savings and deposits including transactions involving long-term investments such as treasury bills, bonds; and commercial papers; government social welfare programmes transactions, e.g. pension payments; non-profit and charitable transactions including donations to registered non-profit organisations or charities; educational institutions transactions, including tuition payments and other transaction involving schools, universities, or other educational institutions.Transactions involving the bank’s internal accounts, such as suspense accounts, clearing accounts, profit and loss accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts, are also exempt from the levy.The central bank warned that Section 44 (8) of the Act prescribes that failure to remit the levy constitutes an offence punishable on conviction by a fine of not less than two percent of the defaulting business’s annual turnover, among other things.
Tinubu Returns To Nigeria After Two Weeks Overseas Trip
SharePresident Bola Tinubu has returned to Abuja, the nation’s capital, after spending two weeks abroad. The President arrived back at...
Court Disbands Cross River Cocoa Allocation Taskforce, Surveillance Team
ShareFrom Ene Asuquo, Calabar High Court sitting yesterday in Effraya, Etung local government area of Cross River state has granted...
First 100 Days in Office: Ododo Pays 100% to LG Pensioners, 85% to LG Workers
ShareFrom Joseph Amedu, Lokoja Governor Ahmed Usman Ododo of Kogi State in his 100 days in office has been said...
13 Kidnapped in Bwari Community as Kidnappers Demand N900m Ransom
ShareBy Laide Akinboade, Abuja Unknown gunmen have invaded Piko, a remote community in Bwari Area Council of Abuja and allegedly...
Troops Neutralise IPOB/ESN Commander, Three others in Imo
ShareFrom Sylvia Udegbunam, Enugu Troops of the Joint Task Force Operation ‘UDO KA’ has neutralized a commander and three members...
Insecurity: FCT Police Command Deploys 30 Motorcycles, Personnel To Rural Community
ShareBy Laide Akinboade, Abuja In order to address some of the insecurity challenges in some rural communities in Federal Capital...
Alia Promises to Sustain Payment of N100,000 to Corps Doctors
ShareFrom Attah Ede, Makurdi Governor Benue State, Rev Fr. Hyacinth Alia, Tuesday reaffirmed his administration’s commitment towards the welfare of...
Lagere Flyover Bridge Will Deepen Osun East Economy-Ooni of Ife
ShareBy Kunle Idowu His Royal Majesty, the Ooni of Ife, Oba Enitan Ogunwusi has showered praises on Governor Ademola Adeleke...
WASSCE: Benue Teaching Service Warns School Principals against Malpractice
ShareFrom Attah Ede, Makurdi The Acting Executive Secretary, Benue State Teaching Service Board (TSB), Mr. Tsea Ahule, has warned that...
Complaints Linger over Renovated Chamber as Ndume Describes it as Conference Room
ShareBy Eze Okechukwu, Abuja Senators yesterday during plenary continued complaining about their renovated chamber, with the Senate Chief Whip, Mohammed...