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Stolen N2.1bn Found In Heritage Bank’s Vault Plus + multibillion Naira Lootings

Published

6 years ago

June 16, 2018

Sahara Weekly

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The Special Presidential Investigation Panel (SPIP) for the Recovery of Public Property has recovered seven million Dollars ($7 million) Or (₦2.1 billion at official rate) illegally kept in Heritage Bank.

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Chairman of the panel, Mr Okoi Obono-Obla, disclosed this while briefing President Muhammadu Buhari on activities of the panel.

The panel has also recovered ₦533 million and land worth N1.5 billion, from the “Previous Management” of NEXIM Bank.

The recovered funds and property had since been returned to the bank.

The panel has also recovered and returned to the National Theatre, ₦24 million which was diverted by some directors of the agency.

Also recovered, were 2 hectares of land in Abuja valued at over N2 billion, belonging to the National Council of Arts and Culture.

The panel went on and recovered and returned a part of Agura Hotel belonging to the Nigerian Ports Authority (NPA). The recovered part of the hotel had been illegally “annexed by some so-called powerful persons with untouchable connections for over 20 years”.

Other recoveries by the SPIP, according to Obono-Obla, are 19 official Sports Utility Vehicles allegedly made away with by former Commissioners of the National Population Commission after their tenures in office.

He said the panel had charged a former Director in the Federal Ministry of Power, Works and Housing to court for failure to declare his assets. The assets include houses in upscale areas of Abuja, a quarry and a farm within the Federal Capital Territory, for which a court has granted an interim forfeiture order.

The SPIP is also investigating some members of the National Assembly and former governors for a range of alleged offences. These include illegal purchase of designated official residences for principal officers of the National Assembly excluded from the monetisation policy at giveaway prices.

Others are purchase of several properties worth hundreds of millions in various currencies, and flagrant abuse of office thus causing financial adversity to the nation.

Mr. Obono-Obla said the SPIP was partnering with the United Kingdom’s Home Secretary to ensure that some public officers “perceived to have looted public funds and illegally acquired assets both in Nigeria and the UK”, were prevented from entering that country.

The SPIP chairman equally told the President that the panel was beaming its searchlight on several companies for a wide range of alleged offences. Some of the companies, he said, are

Celtel, for alleged tax evasion since 2005;

Western Oil and Gas, for illegally drilling crude oil in Delta, and seven others for alleged failure to pay royalties to the Federal Government in about 10 years.

He said some multinational oil companies based in Egi Kingdom, Rivers, were also being investigated for allegedly conniving with unscrupulous individuals to dodge their obligations to the community to the tune of ₦38 billion and $30 million

Also under investigation by the panel is another company, which has failed to fulfil its contractual agreement to dredge the Calabar Channel, years after receiving $12 million.

The panel has also compiled a list of over 200 past and serving public officers perceived to have illegally enriched themselves at the expense of the nation and the Nigerian people, among others,” Obono-Obla said in the briefing.

Pres. Buhari, assured the panel of his continued support and non-interference in line with his administration’s stance on the anti-corruption fight.

Obono-Obla said the panel would remain committed to its mandate, in addition to complementing the Federal Government’s fight against corruption.

He solicited the continued support of Nigerians to the panel with useful information that would lead to the recovery of looted public assets.

The News Agency of Nigeria (NAN) recalls that the panel was inaugurated by the then Acting President Yemi Osinbajo in August 2017.

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Business

Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment

Published

17 hours ago

April 23, 2024

Sahara Weekly

Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment

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… as FG endorses consolidated guidelines

Sahara Weekly Reports That Today, in a move to further revitalise the oil and gas industry’s contribution to the Nigerian Economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the Nigerian oil & gas sector’s global competitiveness whilst stimulating economic growth.

As disclosed during the signing, the Presidential Directives were developed and coordinated by the Special Adviser to the President on Energy, Mrs. Olu Verheijen to ensure a competitive framework for the Nigerian oil & gas industry. These Consolidated guidelines for the fiscal incentives are based on extensive collaboration across Finance and Petroleum Ministries and involved several key regulatory bodies including the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to Mrs. Verheijen, these new measures have been designed to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months. They also underscore Nigeria’s commitment to reaching its long term oil production target of 4 million barrels per day whilst enhancing the reliability of gas supply for to boost export earnings and fuel Nigeria’s industrialization.

Mrs. Verheijen disclosed that among the guidelines signed were the NUPRC Guideline on Hydrocarbon Liquids Content in a Non-Associated Gas (NAG) Field, essential for accurately categorising and quantifying the hydrocarbon liquid content in these fields. Additional guidelines focused on the applicability of tax credits and allowances for Non-Associated Gas Greenfield Development and the Midstream Capital and Gas Utilization Allowance, providing taxpayers with clarity on the computation of these benefits.

HM Edun, in his remarks, thanked President Bola Ahmed Tinubu for signing the directive in February 2024 to engender growth in the Nigerian oil and gas sector, which had stagnated for over the last decade. He also emphasised the potential of the guidelines, saying, “The idea is to create an atmosphere conducive to international competitiveness such that investment comes in. And in this case, we know it’s foreign direct investment”.

The signing ceremony was attended by various stakeholders, including NNPC Limited, Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG), further highlighting Nigeria’s unified approach toward reinvigorating its oil and gas sector.

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Education

JUST IN: Government Shuts Down Lead British School Over Student’s Bully (VIDEO)

Published

1 day ago

April 23, 2024

Sahara Weekly

JUST IN: Government Shuts Down Lead British School Over Student’s Bully (VIDEO)

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Sahara Weekly Reports That The Federal Government has reportedly shut down Lead British School following the bully of a student named Namitira in the Abuja-based institution.

Two videos showing the student reportedly named Namtira being manhandled went viral on social media on Tuesday.

In one of the videos, the victim was seen being slapped repeatedly by another female student while asking “Who broke my heart?”

In another video, the victim was seen sitting next to a male classmate who was heard saying “I spoilt her relationship”.

Furthermore, the minister of women affairs has visited the school to address the situation. In a follow up video recorded this morning, the culprit was seen being slapped by a woman who is said to be the victim’s aunty.

This is the face of the bully, she was brought to the school just now by her parent, the lady who slapped her is the Aunt to the bullied girl, the school has also been shut down for three days and minister of women affairs is there to address the issue,

🎥: Gistlover pic.twitter.com/5M7ocJIlZf

— Pamilerin Adegoke (@UnclePamilerin) April 23, 2024

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news

Meet the Nigerian prophet that prophesied the climatic disaster in Dubai and Oman

Published

2 days ago

April 22, 2024

Sahara Weekly

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By Collins Nkwocha

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The prophetic Hall of Fame, prophet Godwin Ikuru of Jehovah Eye Salvation Ministry, Lagos has established himself as a global prophet, giving accurate and precise prophecies to nations, individuals,continents and organisations.

Nigerians will never forget how he enunciated that Tinubu was going to rule Nigeria,a lot of people and prophets made him their enemies and even threatened to him because of that,but God will always fulfil the words of his prophets as Tinubu finally emerged the president despite all the antagonism.

On the 31st of December when this great prophet was dishing out his prophecies for the year 2024,he said categorically and emphatically that the Asian countries will experience a lot of climatic disasters this year.Oman had a very heavy rain that killed 18 people,it included at least nine schoolchildren and their drivers whose vehicle was washed away by the floodwaters.

UAE witnessed the heaviest recorded rainfall in history,this is really alarming as the rainfall caused a lot of havoc.Only the prophetic Hall of fame, prophet Godwin Ikuru saw all these coming.

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