Business

Uncovered: The Multi-billion Naira Looting Game of Bukola Saraki and Kwara State Governor, Abdulfatah Ahmed + The thieving lifestyle of a political godfather and son

Published

9 years ago

August 15, 2015

Kwarans Groan In Pain While Gov Ahmed And His Gang Get Richer
While most Nigerians quickly put the blame of impoverishing Kwarans on the table of Bukola Saraki, what they are oblivious of is that the Kwara governor, Abdulfatah Ahmed is becoming more dangerous than his benefactor.
Impeccable sources have confirmed the Peoples Democratic Party (PDP) allegation that Ahmed truly pays Saraki a whopping sum of N100 million every month from the state’s coffers.
In the statement, the PDP stated, “We have noted the desperate bid of the Kwara State government to cover up for Sen. Bukola Saraki in respect of the millions of naira that he draws monthly from the state’s lean treasury in the name of an obnoxious, immoral and insensitive pension law that he enacted for himself while in office.
This latest cover-up has only succeeded in raising more questions than answers. It has also evidently shown that the government’s spin doctors have exhausted their basket of lies – a thing that has become a routine pastimes in the life of the present APC-led administration in Kwara State.
“Arising from the government’s latest official cover-up for Saraki, we raise the following posers:

“If in truth Mr. Bukola Saraki had not demanded for security operatives since he left office three years ago, why then did the speaker of the Kwara State House of Assembly, Mr. Razaq Atunwa, on Tuesday, 10th September 2013 threaten to sue the IGP for allegedly violating the provisions of Section 2 (3) Paragraph H of the Third Schedule of Kwara State governor and deputy governor (payment of pension) Law 2010 which makes provision for over 10 different security attachés for Bukola Saraki? If the salaries of Bukola Saraki’s retinue of police and SSS security attachés were not being charged on the state meager allocations, why did the Kwara State House of Assembly subsequently pass a resolution describing the alleged withdrawal as ‘unconstitutional, ‘illegal’ and a ‘breach of law’ the legislators validly passed? If the KWSG is denying the assertion of the PDP on the over N100million that Bukola Saraki draws monthly from the public treasury in the name of pension benefit, it is also ready to deny its own speaker who had much earlier admitted that the security operatives are Bukola Saraki’s birthright pursuant to the pension law?
However, assuming for the purpose of argument that what Bukola Saraki takes home monthly is the sum declared by the secretary to the Kwara State Government, the moral question is, why should Bukola Saraki, who only spent eight uneventful and harrowing years in Kwara as a governor be receiving a pension package that triples that of an average permanent secretary that has spent over 30 years in fruitful service to the public? Why should he even draw any pension at all when he enjoys far more perks as a senator currently representing the same state in the National Assembly?
In the same vein, if the government is denying that it built the multi-million naira mansion at No. A1, Museum Street, GRA, Ilorin, which Kwarans now derisively call ‘Bukola Saraki Pension House’, why did the government order the foreign contractors handling the project to raise the fence of the building high up when the whistleblower, Sahara Reporters, sometime in May 2012, unearthed pictures of the innermost parts of the palatial mansion that has become a source of sorrow and regret to thousands of pensioners that pass through that place daily? More questions begging for answers!
Meanwhile, the fact that the government would so easily lie over Mr. Bukola Saraki’s publicly funded security apparatus, his ‘Pension House’ and other perks that he enjoys naturally presupposes that the whole indefensible rejoinder the KWSG gave against the verifiable revelations of the PDP is nothing but a pack of lies. These glaring lies have therefore vitiated all other cover-ups that the government dished out to the public in defense of a man that is currently standing trial in the case of IGP versus Sen. Bukola Saraki (FHC/ABJ/CS/152) for bleeding the state dry while in office and has refused to stop even out of office through his obnoxious pensions!
The fact that the KWSG could lie about the fact of the payment of the insensitive pension benefits of Bukola Saraki with so straight a face, is indicative of the disdain the APC-led government has for truth and facts. By plausible implications, it is also suggestive of the zero respect the government has for Kwarans that are demanding for answers from it in respect of the obnoxious pension law.
Lastly, for the avoidance of doubt, we insist that what the Kwara State Government received in federal allocations for the year 2013 was a total sum of N49,276,022,267.75 as against the N38.7 billion claim made by the government. This is because apart from the Gross Statutory Allocations, the government also received several billions of naira in both Foreign Excess Crude Savings Account and Value Added Tax (VAT) allocations from the Federal Account Allocation Committee (FAAC). If the government had hoped to sit on these huge funds and get away with it, we ask it to have a rethink for the secret is blown already.
We therefore ask the government to truthfully own up to its incompetence, do the needful by abrogating the obnoxious law as being requested by the overwhelming majority of Kwarans and finish up its remaining months in office to pave way for a more purposeful and truthful government” the state ended.

Despite the denial by the Kwara State governor that they have not built a house for Bukola or given him security as well as eye-popping allowances as pension benefits, we can authoritatively report with documents available that Gov. Ahmed is lying between his teeth.
We can also report without doubt that there is a particular mansion located on Abdulkadir Road, GRA, Ilorin, Kwara State, built for Bukola Saraki as his life pension quarters. Proud as ever and demanding the best of life, the senate president turned down the house and requested that Ahmed pays him the equivalent in cash which was promptly done.
As soon as he got the alert, we were reliably informed that Saraki went back to reclaim the house from the state government and no one coughed.
In line with our investigative nature to counter the denial of Gov. Ahmed that there is no bogus pension for Saraki, we can report that on 29th December 2010 Mr. Bukola conniving with his co-corrupt members in the State House of Assembly passed into law a bill that entitled him to these pension benefits:
Accommodation: (i) One residential house each for the governor and deputy at any location of their choice in Kwara State; (ii) One residential house in the Federal Capital Territory for the governor on two consecutive terms.

Annual Vacation: (iii) 30 days’ annual vacation outside Nigeria with 30 days’ estacodes and travel allowances for the governor.

Transport: Travel expenses allowances for the governor. (a) Three cars for the governor and in addition one pilot and two backup cars to be replaced every three years en bloc.

Furniture: Payable every two years en bloc.

Domestic Staff: Cook, steward, gardener and other domestic staff who shall be pensionable.

Medical: Free medical treatment for the governor and deputy governor and members of their immediate families.

Security: To be provided as listed below: Two SSS details for the governor and one female officer, one SSS detail for the deputy governor; eight policemen (one each for house and personal security) for the governor; two policemen (one each for house and personal security) for the deputy governor.

Drivers: Pensionable.
___

Keep a date as we bring to you report and images of the sorry state of Kwara schools, sporting facilities, the rotten multi – million naira Cargo Centre built by the state at the Ilorin International Airport, how Harmony Holdings Ltd owned by Dr. Bukola Saraki took over most of the state properties and other shocking revelations.

Source: TheIcons

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).