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Presidency Reacts Jonathan’s View On Corruption

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The Presidency yesterday rejected former President Goodluck Jonathan’s claims that there is more corruption in the country than when he left office in 2015.

A statement by the President’s Senior Special Assistant on Media and Publicity, Garba Shehu, said that the claim was absolutely untrue.

He said: “The facts on the ground today run contrary to his outlandish claim.

“President Muhammadu Buhari, in pursuit of the war against corruption, has set a number of local and international records, one of which is to call judicial officers in Nigeria to account.

“He is the first to set such a record. Not only that, this is the first time that top military commanders and Service Chiefs are brought to trial and convictions achieved on account of corruption.

“Also, this is the first time a ruling party is convicting high profile citizens, including former governors, who are members of same party.

“This is the first time the international community is acknowledging the efforts of a government of Nigeria in this regard as manifested by the selection of President Buhari by the African Union as the Anti-Corruption Champion of the continent.

“For the records, this is the first time a ruling party is investigating ranking officers of the administration, including some at the very top,” Shehu said

Apart from the many firsts recorded by President Buhari’s administration, he said, the government has introduced a lot of changes, considering that the laws relating to the fight against corruption cannot reasonably be static.

In line with its aspiration to be ahead of the growing sophistication of corruption and financial crimes, he said that the administration initiated new legislations and proposed amendments to various sections of laws.

The laws, he said, included the Money Laundering Prevention and Prohibition Bill 2017; Anti-Terrorism Prevention and Prohibition Bill 2017; Nigerian Financial Intelligence Unit Bill 2017 (NFIU); Proceeds of Crime Bill 2017.

Others are the Public Interest Disclosure and Witness Protection Bill, 2017 and the Mutual Legal Assistance in Criminal Matters Bill, 2017.

He added: “Owing to these efforts and support all of relevant stakeholders, NFIU Act has been passed and President Buhari gave his assent on July 18, 2018. The administration is currently working with the legislature for an expedited passage of the Proceeds of Crimes Bill to make the anti-corruption war more effective.

“Nigerians should dismiss Dr. Jonathan’s hollow boast that he, not President Buhari, introduced schemes, such as the Biometric Verification Number (BVN), the Treasury Single Account (TSA) and the Integrated Personnel and Payroll Information System (IPPS).

“Of what use is the announcement of good policies without the will to implement them?” he queried.

The former president is claiming credit for the Single Treasury Account (TSA), the Integrated Personnel and Payroll Information System (IPPIS) and the Bank Verification Number (BVN) being implemented by the Buhari-led government.

He also said in his book “My Transition Hours” that corruption under his watch was a child’s play compared to what is happening under Buhari administration.

Since President Buhari assumed office, Shehu said, Nigerians are witnesses to the huge success recorded through the implementation of the TSA where some government agencies that had over the years remitted peanuts or nothing at all are now periodically pumping billions into government coffers.

“Prominent among these remittances include the ones made by Joint Admissions and Matriculation Board (JAMB), Nigerian Ports Authority (NPA), Federal Inland Revenue Service (FIRS), Nigeria Customers Service (NCS) and Nigerian Maritime Administration and Safety Agency (NIMASA).

“While it is also true that the BVN was introduced in 2014 to ensure that all bank accounts have biometric identification of their owners, the lack of will and capacity under Dr Jonathan stalled implementation.

“Today, BVN covers nearly all bank accounts. There are still some individuals who have shielded their identity and are now afraid of enrolling on the BVN platform as this will expose them and their corrupt actions. The law is going after them.

“President Buhari’s administration introduced the whistle-blower policy as a veritable tool against corruption as it gives individuals an opportunity to expose corruption, fraud, bribery, looted government funds, financial misconducts, government assets and any other form of corruption or theft.

“Within six months of introducing this policy, over 5,000 reports were made through various channels, 365 actionable tips were received out of the 5000 reports. So far, more than N200 billion has been recovered.

“As the Minister of Justice and Attorney-General of the Federation,  Abubakar Malami (SAN),  said yesterday, the former President does not have the facts to claim that there was any serious effort on the part of his administration to fight corruption.

“As at 29th May, 2015, when this administration came into office, the EFCC recovery account had only N19.5 billion as revealed by the Minister of Justice and Attorney-General. After one year of the new anti-corruption drive by the Buhari administration, this figure had gone up to N279 billion, and since then a lot more has been recovered.

“Finally, as evidenced from a fleeting look at the book, the former President had nothing to say about his own achievements. If there was a recession, and yes we had a moment in it, was it due to one year of President Buhari’s government?

“In his efforts to blame everyone but himself for his failures, Dr Jonathan heaped the blame for the predictable economic recession on President Buhari, ignoring the seeds sown under him through mismanagement and the process set in firm roots for the decline of the economy. Evidently, he did nothing to avert the situation.

“As we have explained over and over, the recession in 2016 was caused by years of mismanagement and corruption. In the 16 years of PDP, and earlier than that, the country solely relied on oil, the price of which was as high as $140 per barrel under their watch. Government simply reticulated oil revenue through personal spending by corrupt leaders, wasteful expenses and salaries; rather than investing in what would grow the economy. There was no investment in infrastructure as President Buhari is now doing in seaports, airports, power plants, railways, roads and housing.

“The oil windfall for the country was mismanaged, and Nigeria’s greatest opportunity for growth was turned into a tragedy. More worrisome, there were no savings. And to compound the problem and compromise growth of the economy, the previous government borrowed heavily, owed contractors and international oil companies. When President Buhari came into power in 2015, the country had accumulated debt, which took it back to the level it was before the Paris Club Debt forgiveness. Nigeria did not have fiscal buffers to withstand an oil shock when oil prices fell to as low as $28 .

“The oil shock should and could have been foreseen. When visionary Nigerians and economists foresaw this and warned of the dangers ahead, Dr Jonathan hounded such men as the Emir of Kano, Muhammadu Sanusi 11 and Professor Chukwuma Soludo. Dr Ngozi Okonjo-Iweala, Coordinating Minister of the Economy and Minister of Finance under Dr Jonathan’s administration also warned and she was rebuffed.

“The former President and his party have nothing to say about achievements. They ruled the country for 16 years and what is their record on jobs, power, rail, seaports, airports and internal security, including the crippling disaster of terrorism?” he queried.

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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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