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

Bank

ZENITH BANK ENHANCES STAFF PAY BY OVER 20% AND PROMOTES ABOVE 4,000

Published

3 hours ago

January 25, 2025

Sahara Weekly

ZENITH BANK ENHANCES STAFF PAY BY OVER 20% AND PROMOTES ABOVE 4,000

One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare by announcing the promotion of over 4,000 staff members and implementing salary increases ranging from 20% to 30% across various employee grades.

This bold initiative, under the leadership of Managing Director/CEO Dame Adaora Umeoji, its aimed at boosting staff morale and productivity.

With over 8,000 employees, this significant investment in human capital reflects Zenith Bank’s belief that its workforce is its most valuable asset. The salary adjustments, effective January 1, 2025, aim to reward performance, alleviate financial pressures, and ensure enhanced customer service delivery. Promotions for top management are also expected as part of the bank’s ongoing commitment to excellence and growth.

Dr. Umeoji emphasized the importance of maintaining a motivated workforce, stating that the bank’s dedication to its employees will translate into superior service experiences for customers. She highlighted the organization’s commitment to setting industry benchmarks through innovative solutions and exceptional service delivery.

Zenith Bank’s continued leadership in the Nigerian financial sector is underscored by numerous awards, including Best Bank in Nigeria 2024 by Global Finance and recognition as the Biggest Bank in Nigeria by Tier-1 Capital in 2024 by The Banker. These accolades complement its reputation for innovation, sustainability, and corporate governance.

By prioritizing employee welfare during challenging times, Zenith Bank not only strengthens its internal operations but also sets a standard for other financial institutions in the region, reinforcing its position as a leader in Africa’s banking landscape.

As a major player in Nigeria’s financial landscape, under its managing director/chief executive officer, Adaora Umeoji, the bank has embraced a holistic approach to growth that integrates environmental, social and governance (ESG) principles with its core business objectives.

At the heart of Zenith Bank’s strategy is a focus on buoying economic inclusion, supporting small and medium-sized enterprises (SMEs) and driving technological innovation to enhance customer experiences. The bank’s proactive investments in renewable energy, sports, digital transformation and impactful community initiatives exemplify its dedication to creating long-term value for its stakeholders while addressing global sustainability challenges.

Zenith Bank’s continued success is driven by a combination of strong financial performance and an unwavering commitment to its stakeholders.

Zenith Bank’s growth trajectory is underpinned by a robust expansion strategy. With operations in several countries, including the UK, UAE, China, and most recently, France, the bank continues to expand its geographical footprint.

As usual, the bank’s efforts in 2024 did not unnoticed as the lender clinched several local and international awards in recognition of its outstanding performance.

In 2024, the bank won the Best Bank in Nigeria at the annual Global Finance award in Washington, DC, NY.

The bank also emerged the Biggest Bank in Nigeria by Tier-1 Capital, 2024 by The Banker; Best Commercial Bank, Nigeria 2024 – World Finance; Best Corporate Governance, Nigeria 2024 – World Finance; Most Sustainable Bank, Nigeria 2024 – International Banker; Bank of the Year, 2024 – Business Day; Retail Bank of the Year, 2024 – Business Day; Bank of the Year 2024- The Banker.

It also clinched the Most Responsible Organization in Africa 2024 – SERAS; Best in Gender Equality & Women Empowerment 2024 – SERAS and Best in Transparency & Reporting 2024 – SERAS

Business

Sterling Bank Petitions IGP over Exploitation of NASS, Police Force CID

Published

15 hours ago

January 25, 2025

Sahara Weekly

Sterling Bank Petitions IGP over Exploitation of NASS, Police Force CID

Lagos, Nigeria — Nigeria’s leading commercial bank, Sterling Bank Limited, has petitioned the Inspector General of Police (IGP) to address alleged fraudulent activities linked to Miden Systems Ltd and its director, Dr. Brendan Innocent Usoro. The action followed a series of purported attempts by Usoro to leverage political connections and law enforcement to undermine a court-mandated debt settlement.

The Federal High Court delivered a ruling on October 18, 2021, clearly establishing Miden Systems Ltd’s liability for outstanding debts and outlining the terms for repayment.

Despite this unequivocal judgment, Maurice Igugu, Sterling Bank’s Chief Marketing Officer, stated that Miden Systems and Dr. Usoro have engaged in a systematic campaign to evade compliance. The campaign allegedly involves misappropriation of loan funds, manipulation of corporate structures to protect assets and intimidation tactics aimed at bank officials.

The bank expressed serious concerns regarding the misuse of the Police Force CID and the National Assembly by individuals attempting to escape their legal obligations. Allegations suggest that Dr. Usoro has exploited his political connections to obstruct justice, with claims that individuals allegedly acting on his behalf, along with the Nigerian Police, have resorted to intimidation and personal harassment of Sterling Bank’s executives.

In a statement, Igugu condemned these actions as an affront to judicial authority and reaffirmed the bank’s resolve to hold the debtors accountable. He noted that the debtor’s actions have inflicted financial harm on the bank and its stakeholders.

According to the statement, “On October 18, 2021, the Federal High Court issued a decisive ruling that established the debtor’s liability and mandated adherence to agreed settlement terms. Despite the unambiguous nature of this judgment and the debtor’s acknowledgment of substantial outstanding debt, Miden Systems Ltd and Dr. Usoro have engaged in a calculated campaign of non-compliance.”

Consequently, the Bank has sought the intervention of the IGP to address these issues and ensure justice prevails.

On December 10, 2024, through its legal counsel Kunle Ogunba, SAN, Sterling Bank submitted a detailed petition to the IGP. The document outlines serious allegations against Dr. Usoro and Miden Systems Ltd, including the diversion of loan funds for personal use, defaults on loan obligations, asset misappropriation and illegal restructuring of the company’s shareholding.

The petition further highlighted efforts to obstruct justice through legal maneuvers and intimidation tactics against the Bank. The Bank’s petition to the IGP also underscored recent incidents of intimidation directed at its executives, allegedly orchestrated by parties acting on behalf of Dr. Usoro.

Urging stakeholders, customers and the public to disregard unsubstantiated accusations and recognise the facts, the Bank noted that the actions of Miden Systems Ltd and Dr. Usoro is a deliberate attempt to distract from their refusal to fulfill their financial obligations.

The statement added that deductions from Miden Systems’ account, which have been called into question, were carried out under an agreement enshrined in a consent judgment issued by the Federal High Court in Lagos.

“This judgment, signed by representatives of both parties, confirmed the debtor’s commitment to liquidate the debt, including principal and accrued interest, as of June 10, 2021.

“This follows some skewed narratives about a session on the issue with the House of Representatives Committee on Public Petitions on a petition from Maiden Systems Ltd, which accused the Central Bank of Nigeria (CBN), Sterling Bank, and Shell Petroleum of mismanagement and fraudulent debits linked to its account,” the bank stated.

In a recent development, on November 20, 2024, the Federal High Court dismissed an application by Miden Systems Ltd and Dr. Usoro seeking to overturn the earlier judgment. The court’s dismissal cited abuse of process, reinforcing the validity of the original ruling and the binding nature of the settlement terms.

Sterling Bank urged stakeholders and the public to disregard unfounded accusations from Miden Systems Ltd, framing them as distractions from their financial responsibilities. The bank maintains that deductions from Miden Systems’ accounts were executed under a legally binding consent judgment.

While reaffirming its dedication to upholding the principles of justice, integrity, and accountability in the face of these small distractions, Sterling assured that it remains a trusted cornerstone of Nigeria’s financial sector, celebrated for its innovative solutions and unwavering commitment to sustainable development through its focus on the HEART sectors (Health, Education, Agriculture, Renewable Energy, and Transportation)

Business

Join the TM Foundation in Empowering Girls Through the Sanitary Pads Project

Published

2 days ago

January 23, 2025

Sahara Weekly

Join the TM Foundation in Empowering Girls Through the Sanitary Pads Project

Menstrual hygiene is a fundamental right, yet countless girls face the harsh reality of not having access to essential sanitary products. At the TM Foundation, we believe no girl should feel ashamed, miss school, or lose confidence due to a lack of resources during their period.

To combat this issue, we are proud to introduce the Sanitary Pads Project, a three-month initiative dedicated to distributing menstrual hygiene products to girls in need. This project aims to restore dignity, confidence, and hope for a brighter future.

However, we can’t do it alone. This mission depends on the kindness and support of individuals and organizations like you. Every donation, no matter the size, brings us closer to ensuring no girl is left behind.

Together, We Can Make a Difference
Your support will directly impact the lives of young girls, helping them stay in school, focus on their education, and thrive with confidence.

How You Can Help:
Visit www.tmfoundation.giving to make your contribution and be part of this life-changing initiative.

Let’s work together to break the barriers to menstrual health. With your help, we can create a world where every girl has the opportunity to succeed.

Thank you for standing with us in this important cause.

Email: [email protected]
Website: https://tmfoundation.giving/
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