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House Of Representatives Accused Osinbajo Of Illegal Approval Of N5.8bn North-East Intervention Fund

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Eniola Olayemi

 

Vice President. Prof. Yemi Osinbajo on Friday rubbished the report of the House of Representatives Committee on Emergency and Disaster Preparedness, which indicted the National Emergency Management Agency, NEMA, and himself on the illegal approval of N5.8 billion for emergency intervention of food security to the Northeast in June 2017.

The House of Representatives Ad-hoc Committee on Emergency and Disaster Preparedness had on Thursday indicted the governing board of National Emergency Management Agency (NEMA), with Vice President Yemi Osinbajo allegedly fingered in the scam.

The board, chaired by Osinbajo, was accused of illegal approval of N5.8 billion north-east intervention fund.

Reacting to this development, Senior Special Assistant on Media and Publicity, to the Vice President, Laolu Akande, said Osinbajo’s attention had been drawn to a report of the House Committee on Emergency and Disaster Preparedness issued on Thursday,Nov 8, 2018, particularly in respect of funds released for “emergency intervention of food security to the Northeast” in June 2017, when the Vice Preident was Ag President.

“In its report, the Committee alleged that a sum of N5,865,671,939.26 was approved and released in June 2017 vide a Memo raised from the Office of the Acting President, directing the Honourable Minister of Finance and the Accountant General of the Federation to so act.

“The House Committee also concluded that the payment made was in contravention of approval of the National Assembly. This conclusion is both false and misleading. To start with, it is important to understand the context of the transaction.

“This was at a time when internally displaced persons and their host communities faced very severe food shortages throughout the North East, as a result of successive poor harvests and abandoned farmlands, minimal cross-border cash crop trade and lost economic opportunities,” he said.

Akande explained that on 15 April, 2017, the UN World Food Programme, a major aid organisation and food supplier to the region, had issued a warning that it would be reducing its vital support to about 1.8 million IDPs by as much as 85%, due to corresponding reduction in funding by the donor countries.

He said around the same time, the United Nations Commission for Refugees in Geneva also warned of the growing risk of mass deaths from starvation among people living in the conflict areas, saying that the Federal Government of Nigeria moved urgently to prevent the looming disaster by establishing a strategic food intervention plan for the affected States.

According to him,  a Presidential Committee on Emergency Food Delivery to the North East was convened and tha the Committee met on the 13th of May, 2017 to kick off the process, with the then Acting President as Chairman.

Other members of the Committee included: Minister of Finance; Minister of Budget and National Planning; Minister of State for Budget and National Planning; Minister of Agriculture and Rural Development; Governor of Central Bank; Deputy Chief of Staff to the President and the Senior Special Assistant in the Office of the Chief of Staff to the President.

“Resulting from the deliberations of this and subsequent meetings, the approval referred to in the House Committee’s Report was, in fact, based on a request raised by the Central Bank Governor as facilitator of the National Food Security Programme, vide a letter dated May 25, 2017.

“As explained in the said letter, there was an immediate need to distribute grains, including rice, maize, soya beans and sorghum, to Internally Displaced Persons through the National Emergency Management Agency. The only way to obtain the quantity of grains required was to resort to the National Food Security Progamme (NFSP) earlier established by the Federal Government as a means of shoring up its strategic grain reserves,” he stated.

Akande added that it was in consequence of the Federal Government’s decision to urgently purchase the stored grains for distribution to Internally Displaced Persons that the CBN made the proposal for approval of 30,905.08 Metric Tonnes at N5,229,685,333.26, saying that of that amount, the then Acting President eventually approved N5,036,644,933.26, after excluding bagging costs, as this was pursuant to the recommendation that bagging, transportation and other logistics were best handled by NEMA.

He explained that NEMA also originated a request to the Acting President, dated May 25, 2017, requesting the sum of N829,026,456.00 for general logistics, branding and packaging, tracking, security, personnel, media & publicity and contingency costs of taking the grains from their respective locations in Kano, Kaduna, Funtua, Ibadan and Gombe to Adamawa, Borno, Yobe, Bauchi, Gombe, Taraba and Jigawa States.

“These presidential approvals were well within the clear constitutional authority of the Acting President, who needed to take emergency steps to forestall acute food shortages in the affected States and there was nothing illegal or unconstitutional about them. The approvals were duly communicated by the Deputy Chief of Staff to the Governor of Central Bank, Director General of NEMA and the Minister of Finance for implementation.

“On account of the emergency nature of the procurement, the House Committee’s assumption that the ordinary rules of procurement would apply was wrong. Section 43 of the Public Procurement Act makes provision for emergency procurement, in which case the procuring entity is allowed to engage in direct contracting for goods and file a report thereafter with the Bureau of Public Procurement.

“It is also wrong to assume that taxes and interests accruable to government from these transactions in food items were deliberately ignored or waived by neglect. Of course, we expect that any loans advanced to any of the companies would be recovered with the agreed interests, and that any profits made by such companies would be liable to tax in the usual manner,” he explained.

More so, Akande said the suggestion that the grains were never delivered to the target States was also blatant falsehood, saying that in actual fact, in order to ensure effective distribution of the grains, an Emergency Food Intervention Project Team was established, consisting of the Director General of NEMA and representatives of the National Security Adviser, Chief of Defence Staff, Chief of Army Staff, Chief of Naval Staff, Chief of Air Staff, Department of State Security, Nigeria Police and the Presidency.

He explained that the Committee also worked with respective State Emergency Management Agencies, as well as humanitarian agencies such as World Food Programme, International Committee of the Red Cross, and the United Nations Office for the Coordination of Humanitarian Affairs, as deliveries were publicly made directly to the intended beneficiaries.

“In fact, the then Acting President personally inspected the electronic truck-tracking unit established in Maiduguri for the purpose of monitoring the transportation, and flagged off the food distribution on the 8th of June, 2017. Besides, there was the integration of a robust monitoring and evaluation system into the operation in order to facilitate a transparent and accountable process.

“Therefore, all insinuations on this matter regarding purported indictments and perceived violations of due process or the constitution are baseless and totally false. Such interpretations are flawed and should be utterly ignored,” he stated.

 

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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