COVER
NEC Orders Forensic Audit of DisCos Accounts
The National Economic Council (NEC), yesterday said it has approved the engagement of consultants to carry out forensic auditing of transactions on bank accounts of all the privatised components of Electricity Distribution Companies (DisCOs) in the country.
The forensic audit, according to the Council, would ascertain the amount of money invested by the DisCos since they bought over the electricity distribution in 2014.
Speaking with State House correspondent after the monthly meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja, the Deputy Governor of Edo State, Comrade Philip Shuaibu, said this alongside the governors of Ebonyi and Lagos states.
Shaibu said that the report of Governor Nasir el-Rufai committee set up by the NEC to ascertain the ownership structure of the DisCos, would be submited in two months time, adding that the committee had sought approval of the NEC for the time extension, which was granted.
”NEC received an update on the review of the status of ownership structure of the electricity power distribution companies. The Kaduna State Governor, Mallam Nasir el-Rufai briefed NEC on the progress so far made and the responses so far received from general public.
“He also told NEC that they will be carrying out forensic audit of all bank accounts of all discos and state governments to provide all details of their investments in the electricity distribution companies.
“The committee also seeks approval from NEC for additional time to complete the report in two months and also the state governments to file reports of their investments in DisCOs”, Shuaibu.
Asked whether the governors were in support of the reversal on Public-Private-Partnership (PPP) electricity investment over poor performance of the DISCOs, he said that nobody was happy with the performance of distribution companies.
“Nobody is happy with the DisCOs performance and we have a committee chaired by the governor of Kaduna state and they have done very beautiful job.
“They have placed advertisements in about five newspapers and have asked the general public to give them information on performance of these DisCos and also investments made by private individuals and private sectors.
“Also the governors are requested before the end of March to also submit all their investments from 2013 to date, so that we will get it all together and were directed by the electricity authority to stamp our claims.
“The federal government is trying to take the bull by the horn by trying to find out what investments these DisCos made towards this privatization. The first suspicion is that they have made no substantial investment and we will take it when we get all the solutions.
“On the DisCos, one of the reasons why the committee asked for additional two months was to deal with two other issues that arose during NEC.
“And one of those issues was the issue of forensic and to ascertain the level of investment by DisCos. You all know that the issue of privatization is still questionable but nonetheless, the federal government and governors feel we should not lament, what we should do is look for solution.
“Because if government laments, the populace will definitely lose hope. So they need the additional two months so that when they are reporting to council it will be wholistic so that when council decision will be made that will deal with the issue of the DisCOs,” the Edo deputy governor explained.
The Edo Deputy Governor, who is also Chairman of the Local Organizing Committee of the 2020 National Sports Festival to be hosted by the state from March said that he briefed the council on the preparation for the festival and said that every necessary arrangement had been put in place.
He said, “NEC also received LOC of Edo 2020 preparation for National Sports Festival.
Earlier speaking, the Governor of Ebonyi State, Chief Dave Umahi said that Nigerians should not worry over the depletion of the Excess Crude Account from $325 million to about $71 million as explaining that the money was invested in the Nigeria Sovereign Wealth Investment Authority (NSA) with the consent of the state governors.
He said that every investment made by the Federal Government with the money had the consent and approval of the governors.
Umahi said, “Today (Thursday) is second NEC meeting in 2020 and 102 in the series of NEC meetings. The Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed presented to Council current balances on the special accounts maintained by the federation.
“On Excess Crude Account, as at February 24, 2020, the balance is $71, 813941.84. On Stabilisation Account, as at February 24, the balance is N34,186,655,761.82. Development of Natural Resource Account, as at the same date, stands at N101,889,686,452.53.
“Update on Budget Loan Facility, the Minister informed NEC that during the months of January and February, 2020, deductions had been made from statutory allocations of the affected states.
” Next discussed at NEC was the issue of the National Livestock Transformation Plan (NLTP) and the following were discussed: the NLTP emerged from an extensive process involving engagements with stakeholders and detailed analysis of opinions.
“After the initial decisions were made by the state governors, the focus of the initiative shifted to the implementation. Outline of the established engagements process include:
” Letter of intent and counterpart funding, state livestock transformation office and community engagements.
“Preliminary analysis of survey results, which includes data capturing analysis, such as analysis of enumerated data of five gazetted grazing reserves now in Adamawa state.
“We also have two gazetted reserves data obtained in Plateau and in Nasarawa we have four gazetted reserves so data is being collected and analysed.
“We had prayers to Council, one of which was that Council should consider and approve that the three states should submit their detailed plans for the 80 percent funding of the total cost by the federal government, as stipulated in the National Livestock Transformation Plan and of course the states that are participating will have to pay 20% counterpart funding.
“The second prayer was that these states should commit five percent of funding to support the work of the secretariat, in line with the National Livestock Transformation Plan’s policy. Council approved the two prayers.”
Asked whether the Minister gave a break down of how the account was depleted and why some governors were protesting that the ECA had been depleted, he said that the governors were consulted before the account was depleted.
He said, ” On the question of ECA $325 million depleted to $71 million and what happens to the $254 million, I will combine with the question that governors were protesting the depletion and that they were not consulted.
“First, it is not true. $250 million was an agreed investment by governors and federal government on NSIA – National Sovereign Investment Authority and they are doing very well.
” They are handling our infrastructure so nicely that it was further agreed that we should reinvest into it. When these investments are made the federal, state and local governments all get their investment certificate. So we are together in this.
“You also asked where is the other $4 million, it was used in paying consultancy and services that would have caused the fund about $500 million, it was renegotiated to $4 million because, some people went to court over certain transactions in NNPC and so federal government had to engage consultant to handle that.
“We would have paid the consultant five percent of the cost that they were seeking and it would have translated into $500 million. So if you add $250 million plus $4 million you will get $254 million and if you add $71 million you get $325 million, we are back to where we were. So no money is missing.
Governor Umahi restated his disapproval of regional security outfit, adding that he swore to uphold the constitution of the Federal Republic of Nigeria.
The Governor stated that when he was asked whether the worsening security situation was discussed at NEC and how insecurity could be tackled at sub national level.
He said, “Well, security is not discussed on the pages of newspapers and if there is anything the governors have done, it is to brainstorm with the security agencies among themselves and the federal government on this issue of security in various places in the country.
“When people continue to mention regional security, as chairman south east governors forum, I said there will be nothing like regional security but there can be something like regional cooperation, state cooperation.
“Because, security is state based. I watched the Lagos state governor said Amotekun law is state based, because when you take of regional security you are talking of something higher than state police.
” You are looking at one central command, one law, one office and one command and there can’t be anything like that with the present constitution and every governor swore to uphold the tenets of the constitution.
“The governors are doing quite a lot, we have in our various states private security outfit be it in herdsmen, kidnappings and so on and so forth. I think the governors are arising to the challenges of insecurity in the count
By Laide Akinboade, Abuja
As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.
A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.
“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.
In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.
“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.
Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.
“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.
He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.
Torough, the new Editor has had a steady rise in the Newspaper in the last five years.
A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor. He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment.
Torough has attended several journalistic workshops and trainings to properly equip himself for the task ahead.
The statement also said the Management named Eze Okechukwu as Deputy Editor.
Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and DAILY ASSET Newspaper correspondent covering the Senate, having joined the organization in 2021.
Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.
Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.
Aside from his journalistic excellence, he has a great deal of passion for sports.
From Ngutor Dekera, Kaduna and Aliyu Askira, Kano
Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.
The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna. The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils.The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.
By David Torough, Abuja
The Economic and Financial Crimes Commission (EFCC) said former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami, will face a team of interrogators at its office daily throughout December.
A credible source in the EFCC said on Monday that the daily appearance was part of an ongoing investigation into the whereabouts of an alleged 490 million dollars Abacha loot secured through a Mutual Legal Assistance (MLAT) request. The source said that Malami, who was summoned for interrogation by the EFCC on Saturday, was barred from leaving Nigeria for the next one month.According to the source, one of the conditions for his release on Saturday was that he should report daily to the EFCC Headquarters in Abuja for further interrogation.The source said Malami would have to appear daily at the anti-graft office due to the volume of the investigation and the seriousness of the charges against him.”We seized his passport, it is the normal routine during investigation, but he has to report at the EFCC headquarters in Abuja every day for the next month.”He will be reporting for further investigation throughout December.”He will be reporting every day, starting from Dec. 1st to Dec. 31st.He will appear before the team of investigators for the entire month of December.”He will be reporting to EFCC for investigation for the period because of the volume of the investigation and the seriousness of the charges against him,” the source added.According to the source, a fact sheet on the former minister revealed that Malami had several issues to clarify with the EFCC within the coming weeks.“We have asked him to explain the whereabouts of the $490 million Abacha loot secured through MLAT.“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.”The commission cited the large volume of documents he must review and the need for extensive interviews as reasons for seizing his passport.The source said EFCC would not engage in a war of words but would release its findings after a thorough investigation.Malami, in a statement by his media aide, Mohammed Doka, on Monday in Abuja, however, described the EFCC investigation as a political witch‑hunt.He confirmed he honored an EFCC invitation on Nov. 28, describing the engagement as fruitful and expressing confidence that the probe would vindicate him.Malami described the EFCC’s allegations as baseless, illogical and devoid of substance, insisting they collapse under factual scrutiny.
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