Business

REVEALED!!! How Youngest Kogi state Governor, Yahaya Bello lavished over N260million on security votes after assuming office

Published

9 years ago

May 13, 2016

Barely a week after he became governor of Kogi State, Yahaya Bello approved for himself a total of N260 million as security votes, as reported by PREMIUM TIMES today.

Mr. Bello, who is currently Nigeria’s youngest governor, was sworn into office at an elaborate ceremony on January 27 after his party, the All Progressives Congress, APC, fielded him as replacement for its former candidate, Abubakar Audu.

Mr. Audu was in clear lead in the November 21, 2015 governorship poll but suddenly died before the Independent National Electoral Commission (INEC) concluded the election.

Mr. Bello was fielded as the APC replacement during the rerun poll in some areas of the state. His candidacy was fiercely opposed by the deputy governorship candidate of the party, James Faleke.

On Mr. Bello’s first day in office, the Permanent Secretary in the Government House, Ilemona John, initiated a memo titled, “Request For Security Fund”.

In the document, Mr. Bello was requested to approve N15 million as his security fund.

He approved the payment of the fund two days later, on January 29.

The Government House Permanent Secretary raised yet another memo just four days later on February 2, with a fresh request for security fund. This time, the amount was jerked to N20 million.

The governor did not waste time as he gave prompt approval for the release of the funds on the same day.

It however became apparent that the money was not enough because Mr. John again raised another memo for the release of more security funds the following day, February 3.

In the new memo, Mr. Bello was requested to approve the “release of the sum of Five Million naira (N5, 000,000, 00) only for the replenishment of your Excellency’s security fund which has just been exhausted.”

Mr. Bello granted approval immediately.

Not done, the permanent secretary who is a Reverend Pastor, quickly returned with another request on the same day (February 3, 2016) seeking Mr. Bello to release another “N20 million for the replenishment of his security fund which has just been exhausted.”

The governor did not hesitate to give the approval for the release of the funds.

Five days later, on February 8, the Permanent Secretary, again initiated a memo indicating that Mr. Bello’s security fund had yet again been exhausted and sought approval for N100 million to be released to “replenish” it.

Governor Bello granted approval the following day, February 9.

A few hours later on February 9, Mr. John raised another memo informing his principal that the security fund he approved hours earlier had been exhausted and that he needed to approve another N100 Million.

Mr. Bello readily granted approval on the same day.

PREMIUM TIMES cannot say exactly how much has so far been spent as security funds, but documents obtained so far indicate that between January 27 and May 12, Kogi State taxpayers could have coughed out billions to their profligate governor.

N148 Million for furnishing and renovation of office

While Mr. Bello was drawing millions under security funds, he also approved over N148 million to furnish and renovate his office at the Government House.

For this, Mr. John, the Government House permanent secretary, as usual, came up with another memo on February 1.

The memo was titled, “Request for the furnishing and maintenance of the Governor’s Office, Kogi State Government House”.

In it, Rev. John requested the governor to approve N99, 983, 994.00, being a proposal by a company, Maj Global Construction Company Ltd, for the furnishing and renovation of the governor’s office.

Mr. Bello promptly granted approval on the same day the request was made.

However, Rev. John returned a month later on March 4, with a memo telling the governor that the over N99 million he earlier released for the furnishing and renovation of his office, was not enough.

He, therefore, requested the governor to release additional N48, 593, 250.00 “for additional works on the renovation/furnishing and maintenance of the governor’s office at Kogi Government House”.

Governor Bello gave approval on the same day the request was made.

PREMIUM TIMES also obtained copies of the document detailing the release of the fund approved for the furnishing and renovation of the governor’s office.

The first document dated February 4, from the Ministry of Finance and Economic Development showed that the sum of N99, 983, 994.00 was released as “Grant/ Special imprest in favour of the perm secretary in the Government House Administration”.

The other document, dated March 9, was also for the release of N48, 593, 250.00 as “Grant/Special imprest in favour of the permanent Secretary, Government House Administration to cover additional works for the furnishing and maintenance of the Governor’s office at Kogi Government House”.

While the governor engaged in a spending spree for his luxury, state workers and pensioners remained unpaid for months.

Analysts believe that while Kogi State has had a flicker of militant activities by members of the Boko Haram group, the state has remained largely a relatively peaceful state.

Mr. Bello’s defence

When PREMIUM TIMES contacted the spokesperson to the governor, Kingsley Fanwo, he confirmed the spending but said they were necessary.

“It is public knowledge that Kogi State has been contending with serious security breach for the past 10 years,” Mr. Fanwo said.

“As a result of the location of the state as gateway to many states of the federation, the state drifted into a criminal hotbed.

“Also, years of gross maladministration and blinding embezzlement has left the youth bare, exposing them to all sorts of criminal activities to survive. Kogi became a haven of robbers and kidnappers.”

As a responsible government, he argued that the Yahaya Bello administration has taken security to the front burners by strengthening the state’s security architecture in order to make it inhabitable for hoodlums and criminal elements.

Because of his principal’s huge investment, he said security in the state had greatly improved while however, adding that “security vote is not usually a subject for public consumption and no cost can be higher than human lives.”

He said Governor Bello would continue to prioritize security because it was one of the main objectives of his election.

Continuing, he said, “Let me also put on record that the Governor Yahaya Bello administration is contractually committed to fighting corruption and enthroning transparency in the polity. These are the terms of his social contract with the Kogi people.”

“If you have ever been to the Kogi State Government House in Lokoja, you will appreciate the rot of the architecture. It was not befitting of one of the most historic Government Houses in Nigeria.

“In tandem with the present administration’s drive to turn the economy of the state to a private sector driven one, we need to start our charity at home. People must love to come to our Government House to transact businesses.”

For these reasons, he said the Government House was undergoing massive renovation to make it habitable and to mirror the image of the state as a first-rated tourist destination.

Being what he described as “an accomplished business mogul” who believes he assumed power by the grace of God, he said Mr. Bello had always reiterated his determination, not only to block corrupt practices, but to also ensure corrupt officials of government were made to face the wrath of the law.

To underscore its transparency, he said the administration opened its account books to the people of the state.

Besides, he said the governor constantly briefed the media on the income and expenditure of government.

“Massive constructions are ongoing in the state and the Governor is focused on ensuring transparent and active performance of this year’s budget,” the governor’s spokesperson said.

“The antics of our opponents will be judged by the people of the state who are already witnessing the benefits of the New Direction Programs. The bulwark of the Yahaya Bello administration is transparency.”

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).