Business

Missing Budget: Senate sets up search committee

Published

9 years ago

January 14, 2016

SENATE President, Dr Bukola Saraki, tacitly admitted, yesterday, that the 2016 budget was missing from the National Assembly, when he openly said a search committee set up by the Senate for the missing document would present its report today.

Saraki’s confirmation of the report came just as Vanguard gathered that the search committee quizzed aides of President Muhammadu Buhari in the National Assembly as well as staff of the offices of the clerks to the Senate and House of Representatives, yesterday.

Vanguard sources said those interrogated gave useful information to the committee which would be presented to the Senate in plenary today.

The Senate President, who had earlier at the beginning of Senate’s session, yesterday, announced to senators that copies of the 2016 budget document would be made available to them today, in readiness for general debate on it next Tuesday, eventually owned up on the missing document while responding to Senator Abaribe’s point of order.

Abaribe had, through Order 42(1) of the Senate standing rule, drawn the attention of the Red Chamber to media reports that the budget document was missing and called for immediate deliberation on it by pointedly asking the Senate President: “where is our budget?”

He said: “The matter that I refer to through this order, is what is in every newspaper today, everywhere in all the talk shows in the radio of a missing budget and therefore Mr. President, I want to bring to your attention and that of all my colleagues that yesterday ( Tuesday) in our closed-door session, this matter also came up and some of us who are worried, who have been inundated by messages from our constituents who are really worried about what their fate will be in 2016, are asking us, where is our budget.

“That is why Mr President, I think, it is definite and it is urgent that we look into this matter of missing budget now.”

Abaribe’s submission pushed Saraki to admit that the budget document was not in sight in the Senate, contrary to the earlier denial of the Senate that the document was missing.

Saraki did not only confirm that the issue was raised and discussed at the Senate closed-door session on Tuesday but also said a search team had been set up to look for the missing document.

Business

From Loss to Land: CBEX Victim Gifted Plot in Ibeju Lekki by Swedish Follower

Published

8 minutes ago

April 17, 2025

Sahara Weekly

From Loss to Land: CBEX Victim Gifted Plot in Ibeju Lekki by Swedish Follower

CBEX Crash Sparks Outrage, Tears and Unexpected Kindness: Swedish Fan Gifts Nigerian Investor a Plot of Land

The dramatic crash of the CBEX investment platform has triggered a wave of public outrage and heartbreak across Nigeria and beyond, with scores of users lamenting the loss of millions in life savings, business capital, and retirement funds.

The Economic and Financial Crimes Commission (EFCC), along with the Internet Fraud Unit, has reportedly launched a probe into the circumstances surrounding the platform’s sudden collapse. The investigation comes amid mounting pressure from angry investors demanding justice and restitution.

As thousands take to social media to share their personal experiences and financial devastation, one story has stood out—not for its tragedy, but for the unexpected act of generosity that followed.

In a recent Facebook post, Nigerian digital creator Ivan Eagle shared that a Swedish follower, deeply moved by his emotional account of the CBEX fallout—originally reported by Legit.ng—gifted him a full plot of land in Lagos.

“A follower in Sweden just gifted me a FULL plot of land in Lagos after reading my CBEX story on Legit.ng,” Ivan wrote.

He revealed that the property is a 600-square-meter plot in Ibeju Lekki, one of Lagos State’s fastest-growing residential hubs, where land prices under reputable developers like PWAN reportedly start at ₦30 million.

“For those of you who live in Lagos, you all know how Lagos is gradually evolving into Ibeju Lekki, and how residential regions covered by reputable real estate firms in the area have been SOLD OUT,” Ivan added.

A Silver Lining Amid a Financial Storm

The CBEX collapse has left a bitter taste in the mouths of thousands of investors, many of whom believed they were participating in a credible digital asset investment scheme. Online forums and Telegram groups have since been flooded with screenshots of losses, emotional breakdowns, and desperate calls for recovery.

However, Ivan Eagle’s story has become a rare glimmer of hope, showcasing the unexpected humanity that sometimes arises in the aftermath of financial tragedy.

As investigations deepen, questions remain over CBEX’s regulatory compliance, investor protections, and whether its operators will face legal consequences. For now, the EFCC remains silent on the details but has urged victims to submit official complaints through its designated reporting channels.

Business

Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu

Published

1 hour ago

April 17, 2025

Sahara Weekly

Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu After Rigorous Selection

In a significant leadership transition at one of Nigeria’s foremost military-civilian academic institutions, Professor Lawan Bala Buratai has been appointed as the new Vice Chancellor of the Nigerian Army University Biu (NAUB).

The appointment was announced following an intensive and merit-based selection process conducted by the Governing Council of NAUB at the Armed Forces Officers Mess and Suites, Asokoro, Abuja. The Council, under the chairmanship of Dr. Awwal Moriki, concluded its deliberations and formally presented the letter of appointment to Prof Buratai in a brief but momentous ceremony.

Dr. Moriki, while congratulating the new helmsman, described the selection as the culmination of a transparent and rigorous process aimed at identifying a visionary academic leader who embodies the university’s core values of excellence, discipline, and innovation.

With this appointment, Prof Buratai succeeds Professor Kyari Mohammed, whose single five-year tenure is widely credited with laying a strong foundation for the university’s academic and structural growth.

The Nigerian Army University Biu (NAUB) was established in 2018 as a unique public institution owned by the Nigerian Army and designed to serve both military personnel and civilians. Located in Biu, Borno State, the university was conceived as a strategic response to the security and developmental challenges facing Nigeria and the wider Sahel region.

NAUB is focused on entrepreneurship, innovation, defense studies, and technology-driven research. It offers undergraduate and postgraduate programs in diverse fields ranging from engineering and environmental sciences to social sciences, computing, and military history.

What sets NAUB apart is its civil-military partnership model, which aims to foster mutual understanding and collaboration between Nigeria’s armed forces and the general populace. The university plays a key role in developing indigenous solutions to security challenges while also contributing to national capacity building and economic resilience through education.

With increasing national and international recognition, NAUB continues to attract scholars and partnerships across Africa and beyond, committed to transforming it into a world-class institution in security and development research.

Professor Lawan Buratai, a respected scholar and administrator, is expected to lead the university into its next chapter—deepening academic standards, expanding infrastructure, and strengthening NAUB’s role in national transformation.

His appointment signals a continuity of vision with a renewed focus on excellence, innovation, and service to the nation.

Business

Dangote Supports FCT, Kogi In N16bn Food Programme

Published

12 hours ago

April 16, 2025

Sahara Weekly

Dangote Supports FCT, Kogi In N16bn Food Programme

……FCT Minister, Kogi Gov applaud ADF

The Federal Capital Territory(FCT) Abuja and the Kogi State Government have received food donation from the Aliko Dangote Foundation (ADF), as part of the N16 billion Annual National Food Intervention programme launched last month.

Speaking at the flag off Tuesday in Abuja, Senior Special Adviser to the President of Dangote Group, Hajiya Fatima Wali Abdurrahman, said 10,000 bags of 10kg rice were donated to the Federal Capital Territory(FCT), Abuja for onward distribution to the poor and the vulnerable persons.

She said the intervention programme by the Aliko Dangote Foundation is aimed at supporting governments at all levels to cushion the effects of economic challenges in the country.

According to her, the intervention programme debut in 2024 when the company donated food worth N15billion to all the 774 Local Government Areas in the country.

She said Chairman of the Aliko Dangote Foundation, Alhaji Aliko Dangote, is passionate about given back to the society, and the needy especially.

Speaking at the flag off ceremony, Minister of the FCT Nyesom Wike, who was represented by Ango Abdullahi Suleiman, said the government appreciates Alhaji Aliko Dangote’s gesture.

The Minister said Mr. Dangote has contributed enormously to the economic development of Nigeria, while promising to ensure that the food items reach the poor.

Meanwhile, in Kogi State, the Commissioner for Humanitarian Affairs and Poverty Alleviation, Hajia Rabietu Okute, said 40,000 bags of 10kg rice have been received from the ADF.

She said the food items were distributed to the poor and vulnerable persons in the State.

On the distribution process, she explained that it followed Governor Ahmed Usman Ododo’s directive, who tasked the committee with ensuring the food items reach vulnerable residents across the state.

Mrs. Okute stated that the distribution was flagged off in the state on March 26, 2025.

Speaking on how the food items were shared, the Commissioner said: “We shared the 40,000 bags of rice through the 21 Local Government Areas. The LGAs also shared the product to the 239 wards.”

She added: “Before this, a committee of 12 persons per Local Government was set up, and the State Government moblized the committees. The products were distributed to vulnerable groups like the union of disabilities and the 23 orphanages in the State.”

The Commissioner applauded the Aliko Dangote Foundation, while describing the intervention as a genuine act compassion and philantrophy.

She added: “On behalf of the people and government of Kogi State, we want to thank the Aliko Dangote Foundation, and specifically Alhaji Aliko Dangote himself for this food support. We are grateful and happy, and it means a lot to us. May God continue to support him and his businesses.”

Responding, General Manager Community Affairs/Special Duties, Dangote Cement Plc, Mr. Ademola Adeyemi, who supervised the distribution on behalf of ADF, said the food donation to Kogi will further boost the relationship between the company and the state.

Managing Director and Chief Executive Officer of the Aliko Dangote Foundation, Zouera Youssoufou, had said that the Annual National Food Intervention programme is a way of giving back, and supporting governments in fighting poverty and hunger in Nigeria.

She said Mr. Dangote is passionate about philanthropy and committed to ensuring that hunger is reduced to the minimum in Nigeria.