Business

‘I’m ready to come out from hiding to spill the beans if Buhari will provide adequate Security for me’- Miana

Published

7 years ago

October 26, 2017

The former Chairman of the Presidential Task Force on Pension Reforms, Mr. Abdulrasheed Maina, has explained that he went into hiding to save his life from pension thieves who vowed to silence him for asking the former Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, to stop multi-billion naira monthly allocations being shared by the thieves under the guise of paying pensioners.

Maina, who spoke to Berekete Family, an Abuja-based Radio Show anchored by Ahmed Isa, which could not be authenticated, said he was ready to come out from hiding to spill the beans with relevant documents if President Muhammadu Buhari would provide him adequate security.
The former pension boss recalled that his car was shot at three times and the windows shattered when he was returning from a meeting with former President Goodluck Jonathan and Okonjo-Iweala where they discussed about the money recovered by his task force.

According to him, what saved him from the attack was that Jonathan had earlier directed that he should be given a bulletproof car after he had complained to him about strange text messages, which threatened his life.
Maina denied stealing pension money, saying that his task force did not have or operate any account and challenged anyone with proof that he was given any government money to present the proof to Nigerians.

“To start with, I did not take anybody’s one kobo and nobody has ever given me one kobo in Nigeria. Nobody has ever given me budget; nobody has ever given our office N10. The Office of the Head of Service (HoS) has always been in charge of our task force. Our task force include: 15 officers from the EFCC; 15 officers from the ICPC; four officers from DSS; two officers from NIA; 15 officers from the office of HoS; three officers from the Accountant General’s Office; three officers from the Auditor General’s office; two officers from the office of the Attorney General and Public Complaint Commission and some representatives of the National Association of the Nigerian Pensioners. I was only the head. Anything that happened in that task force must be endorsed by all these agencies before it is brought to me to endorse. So, why is it that people are calling Maina, Maina and not calling the task force? The reason is that I refused to bend backwards,” Maina explained.

Maina challenged anyone – whether the budget office or the ministry of finance that has ever given him money to show the proof to Nigerians.
He said instead of appropriating government’s money, his task force recovered N282 billion, which Okonjo-Iweala lodged at the Central Bank of Nigeria (CBN), when the present Emir of Kano, Alhaji Muhammad Sanusi was the governor.

“This money, I have never seen in cash; I only see in paper. So, how did I come across the money? If there is anybody with proof of how government gave me money or how money entered into my account, let the person show the proof. People are talking on the newspapers. All this is because of the following: My team was asked to go and restructure the Police Pension Office. We went to the Police Pension Office and we found out that they were taking N300 million every morning. I reported to the Minister of Finance and asked her if she approved N24 billion for payment of police pension arrears and she said ‘yes.’. I told her that the money was not being used to pay police pension arrears and that N300 million was removed every morning and these are the people that were removing the money. The matter was referred to the EFCC and ICPC,” Maina said.

“The second thing was that they were allocating N1.5 billion every month for police pension. We found out that the actual amount was N488 million. That means that they have been stealing N1 billion every month for so long. Definitely, I will have enemies. We had to ask the Minister of Finance to stop these payments,” he added.
Maina also stated that his team carried out biometric exercise, stressing that the exercise was approved by the Head of Service and not him.

According to him, all the agencies represented in the task force participated in the exercise.
“The task force never had or operated any account. It is the people who stole money and that are being prosecuted are the ones that paid money to the media to rubbish my name. They are rubbishing my name because they are afraid that if Maina is around, Maina is going to reveal a lot of things. We blocked leakages in government and saved billions of naira for the government. We created e-payment and gave pensioners smart cards. That way, a pensioner will go and verify himself at his own time instead of lining up every month and dying in the process. We found out that the payroll of the Head of Service was N5.12 billion but the actual was N825 million. So, why should Maina go and tell the Minister of Finance to stop sending N5.12 billion? That was my crime because this money was being shared all over,” Maina explained.

He also recalled that his car was riddled with bullets when he was returning from a meeting with former President Jonathan and Okonjo-Iweala where the money recovered by his team was discussed.
“I had complained to the president and they gave me bullet –proof car. The car is still in the villa. When I complained to the police, the reply by the police was signed by the present Inspector General of Police. I had to go under because of the threats to my life. So, I went to court,” he added.

When asked if he would come out of hiding and spill the beans if President Buhari provides the necessary security for him, Maina said: “I am ready and half of those people will run away and leave Nigeria.

“I tell you this and that is why I am being persecuted. The former President is alive; the former Minister of Finance is alive. Let them go and find out about the money Maina recovered. How can they say there is no money to pay pensioners? It was during my time that we went and got approval for 53 per cent increase in pension. With the money we recovered, they were able to pay the 53 per cent increase. We recovered N282 billion. How many pensioners do we have in Nigeria? Secondly, because of the information I gave to the security agencies, they recovered N1.6 trllion from the security agencies,” he said.

Speaking on why he shunned invitation by the Senate, Maina stated that he had earlier honoured the lawmakers’ invitation but was shocked by the treatment given to the pension thieves by the Senators.
“The pension thieves were being given tea in the Senate Chambers while I and Lawode were inside the dock. So, the thieves were with the Senators,” he added.

Business

ATMs empty as banks ration withdrawals

Published

1 day ago

November 14, 2024

Sahara Weekly

ATMs empty as banks ration withdrawals

The Automated Teller Machines of Deposit Money Banks have consistently remained empty in recent months as banks grapple with a sustained low cash supply.

It was also gathered on Wednesday that some DMBs, particularly in the Federal Capital Territory, have begun another round of cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.

While banks struggle to get cash, Point-of-Sales operators have been fulfilling the cash needs of customers.

Speaking at the Facts Behind the Rights Issue Presentation of FBN Holdings at the Nigerian Exchange Limited recently, the Executive Director/Chief Financial Officer of First Bank, Patrick Iyamabo, said that the matter was an industry-wide one and not peculiar to a specific bank.

He said, “It is an industry problem. Most customers after exhausting the options available in other banks, tend to settle at FirstBank to address their cash needs. The challenge differs by location but we know it is a challenge that the regulator is looking into to address. But as we speak of physical cash, we must appreciate that the direction of the industry is to go digital.

“A lot of our customers do most of their transactions digitally, and you heard the GMD speak to this, very often people don’t want to transact in cash. In terms of this new order, your bank, FirstBank is very well positioned so if you look at the statistics and I’m speaking to independent statistics, just pick up your NIBSS report, the bank with the most stable platform meaning availability to always transact digitally is FirstBank. So, all our customers have the benefits of having their cash in First Bank and having access to this cash anytime anywhere and as necessary. It’s a huge advantage.”

Speaking anonymously with The PUNCH, a banker at a tier-1 bank put the blame on the Central Bank of Nigeria.

As a result, many people have turned to Point-of-Sale operators, who have become the primary channel for cash withdrawals, albeit often at higher transaction fees.

Major commercial banks visited by one of our correspondents on Wednesday claimed not to have sufficient cash allocation hence the ration withdrawals to serve more customers.

The banks visited include Guaranty Trust Bank, Zenith Bank along Airport Road, and EcoBank at Jabi in Abuja.

A bank customer at EcoBank, who spoke without mentioning her name, said she was only allowed to withdraw N5,000 from N20,000 previously allowed.

“I was just informed that I can only withdraw N5,000 from my account. Can you imagine? The amount will can’t even take me home.”

Our correspondent received the same answer when he attempted to obtain cash.

At GTBank and Zenith Bank along the airport road, customers were permitted a maximum withdrawal of N20,000 from N100,000 previously disbursed as a daily limit.

A customer, Mr Faith, who visited the bank expressed shock about the new limit. He said the banks didn’t give any cogent reason for reducing the withdrawal limit.

“I just visited these banks, and I was informed that I can only withdraw N20,000 from N100,000, which was the previous limit. They didn’t even give any reason for reducing, now I have to start looking for cash elsewhere. This country is just so annoying,” He vented.

Cash scarcity became a recurring and widespread issue across Nigeria after the Central Bank of Nigeria introduced a controversial policy in January 2023, which significantly reduced the daily and weekly cash withdrawal limits to N100,000 daily, N500,000 weekly for individuals, and N5m for business entities.

This decision, aimed at encouraging a cashless economy, led to long queues at ATMs, increased difficulty in accessing physical cash, and a general disruption of daily financial transactions for millions of Nigerians.

The policy’s impact was felt particularly by those in rural areas and lower-income groups, who rely heavily on cash for their day-to-day needs, exacerbating economic hardships across the country.

Last week, data from the CBN showed that currency in circulation climbed 56.1 per cent year-on-year to reach N4.31tn, up from N2.76tn in September 2023, reflecting an increase of N1.55tn.

This is just as currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year.

This indicates that the volume of currency retained outside the banking sector outpaced the total released for circulation within the past year.

Compared to August 2024, currency in circulation rose by 4.0 per cent month-on-month, adding N166.2bn from the previous figure of N4.14tn.

The CIC is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses. It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Earlier in September, the CBN announced plans to sanction banks that fail to dispense cash through their automated teller machines, as part of efforts to improve cash availability in circulation.

The CBN also revealed plans to release an additional N1.4tn into circulation over the next three months to ease cash flow within the banking system.

This strategy aims to ensure that ATMs and bank branches have sufficient cash, addressing ongoing challenges faced by customers over cash shortages.

Efforts to get a reaction from the apex bank on the new situation proved abortive as the acting Director, Corporate Communications, Sidi Ali Hakama, did not respond to enquiries sent to her phone number.

Business

NNPCL Makes New Leadership Appointments

Published

1 day ago

November 14, 2024

Sahara Weekly

NNPCL Makes New Leadership Appointments

The Board of Directors of Nigerian National Petroleum Company Limited (NNPCL) has just made fresh leadership appointments.

A communication by Olufemi Soneye, Chief Corporate Communications Officer of the nation’s oil company, announcing the development reads…

The Board of Directors of NNPC Limited is pleased to announce a series of strategic leadership appointments. These changes
reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.

The following key appointments have been made:
1. Mr. Adedapo A. Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.
2. Mr. Isiyaku Abdullahi has been named Executive Vice President (EVP), Downstream.
3. Mr. Udobong Ntia has been appointed Executive Vice President (EVP), Upstream.

These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organization’s strategic objectives.

The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.

NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritizing the interests of the Nigerian public in the petroleum industry.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Limited
November 13, 2024S

Business

Oil Cabals crippled Govt Refineries, now working against Dangote Refinery – Pastor Adeboye

Published

2 days ago

November 13, 2024

Sahara Weekly

How Prophet Kingsley Predicted The Rumble In Pastor Adeboye Led RCCG

Oil Cabals crippled Govt Refineries, now working against Dangote Refinery – Pastor Adeboye

The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has urged Nigerians to pray for divine intervention in the face of efforts by unscrupulous oil marketers to thwart the operations of the Dangote Petroleum Refinery, following the previous sabotage of Nigeria’s four state-owned refineries.

The respected clergyman made the call for nationwide prayers during the November 2024 Abuja Special Holy Ghost Service themed ‘Total Restoration’, which held in the capital city. While Adeboye did not explicitly name the Dangote Petroleum Refinery, his remarks echoed the ongoing attempts by oil marketers to prevent the refinery from functioning as it was designed to.

The Dangote Refinery based in Ibeju-Lekki, Lagos is the only facility currently refining petrol in Nigeria, and Adeboye’s comments reflected the dispute between the refinery and oil marketers, who seek to continue importing fuel for personal gain.

Pastor Adeboye reminded the congregation that it was God who raised Aliko Dangote to establish a refinery after years of failed attempts to revive Nigeria’s four public refineries, which had consumed billions of Naira with little result. He questioned the persistence of fuel imports despite Nigeria’s status as a major crude oil producer.

“Are we under a curse?” he asked. “We have four refineries, we poured all kinds of money into them, none of them is working. But God raised someone to build a refinery that works. He is not my relative, he is not from my village. He is not even a Christian, but he is a Nigerian who says, ‘Why should my people suffer when I have the means to build a refinery that can work?’ Now he is refining petrol, and some people want to stop him from selling it, so they can keep importing.”

Adeboye also pointed out the damage caused by the fuel subsidy, describing it as a significant drain on Nigeria’s resources, contributing to the country’s mounting debts and corruption. He stressed that when President Bola Ahmed Tinubu announced the end of the subsidy in 2023, Nigerians largely welcomed the decision, but oil marketers, who benefitted from the subsidy regime, were furious.

These marketers, the renowned pastor claimed, have formed alliances with some International Oil Companies (IOCs) and other powerful interests to obstruct the Dangote Petroleum Refinery. This includes restricting access to crude oil, forcing Dangote to import crude from countries like the United States, among others.

He called for prayer for the total restoration of the country, noting that the Nigerian people are suffering the consequences, as the prices of essential goods have soared, pushing many items beyond the reach of ordinary citizens. “The masses are the ones suffering because these marketers, who are bent on keeping imports alive, already have more money than they can ever spend,” he said.

Despite the Dangote Petroleum Refinery’s capacity to meet Nigeria’s entire demand for petroleum products – and even to export surplus fuel – oil marketers continue to pressurise the government to allow ongoing petrol imports. This has placed additional strain on the Naira, which has continued to depreciate.

Recently, the Crude Oil Refineries Owners Association of Nigeria (CORAN) urged the government to protect local refineries from unfair competition posed by importers and international petroleum traders, in line with provisions in the Petroleum Industry Act (PIA).