1. Lagos to demolish 100 distressed buildings
Dr Idris Salako, Lagos State Commissioner for Physical Planning and Urban Development, says the state government has earmarked 100 distressed buildings for demolition across the state.
It also said government would the law on demolition of distressed buildings.
The commissioner made this known during a visit to the site of the three-storey building which collapsed in the early hours of Saturday on Freeman St. Lagos Island
2. Nigeria police begin 2020 recruitment exercise
The Nigeria Police Force (NPF) on Saturday announced that it has commenced its 2020 recruitment exercise for new officers.
Police spokesman Frank Mba in a statement said the security agency is recruiting qualified persons as constables from July to mid-August.
Interested applicants, according to Mba, must be aged between 17 to 25 years and must possess “a minimum of five credits, including English and Mathematics, in WASSCE/NECO/GCE/NABTEB.
3. Stamp duty: More money, more money
On Friday, President Muhammadu Buhari discharged the ritual of signing the revised budget into law. That, we know, is the easiest part of the job. The projected expenditure for 2020 is now N10.8 trillion — curiously more than the N10.5 trillion that Buhari originally signed in December 2019 when the world was still a better place, when we didn’t need to be using hand sanitisers anyhow. Crude oil price was $72 then; it is now $40.
The economy was breathing better then; it is now struggling for air under the face mask. Already, the crash in oil prices has meant we could only raise 44 percent — about N1.48 trillion — of our revenue target for January to May. So, for Pete’s sake, where are we going to get the N10.8 trillion to fund the entire budget? That’s the hard part of the job.
For an economy that is tied to petrodollars — and with the global economy badly infected by the coronavirus — the natural instinct is to panic over the consequences of the oil price crash for Nigeria. Where will the money to fund the budget come from? We are taking loans, I know, but they are not going to be enough. For one, though, I will advise that Nigerians fasten their seat belts:
the government is dead serious about the stamp duty. While this may not provide the naira and kobo needed to fund the budget, I don’t need any expert to tell me that the Buhari administration is going to stamp its feet on the newfound goldmine.
Nigerians are already complaining about the N50 stamp duty charge on deposits in their bank accounts. Well, they have to get used to it.
4. Magu’s probe shows there are no sacred cows —Presidency
The Presidency said on Saturday the ongoing investigation of the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, for alleged financial malfeasance was further proof that the current administration’s anti-graft campaign was real and active.
In a statement titled: “Presidency’s statement on the suspension of Mr. Ibrahim Magu” and signed by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the presidency, however, added that people who hold the belief that the ongoing investigation of the anti-graft czar was an indication of the government’s failing anti-corruption fight had missed the point.
The EFCC chairman’s probe, according to the presidency, showed that there were no sacred cows under President Muhammadu Buhari’s administration.
The statement was the presidency’s first reaction since Magu was arrested and brought before the Justice Ayo Salami-led presidential panel for alleged corruption and insubordination on Monday.
Shehu said: “Those who see Mr. Magu’s investigation, as a signal that the fight against corruption is failing, have unfortunately, missed the boat.
“There is no better indication that the fight is real and active than the will to investigate allegations in an open and transparent manner against those who have been charged to be custodians of this very system.
“Under this president and government, this is our mantra and guiding principle. There are no sacred cows, and for those who think they have a halo over their heads, their days are also numbered.
Mr. Magu was not immune – and regardless of the obvious embarrassment that potential acts of wrongdoing by him, given the office he held, may appear for the government.
“No other administration in the history of Nigeria would have moved to bring into the light and public domain such an allegation.”
The presidential aide revealed that several documented allegations were made against the EFCC chief, adding that a preliminary review of the allegations levelled against him necessitated the need for an investigative panel to be constituted in compliance with the extant laws governing the convening of such a body.
He added: “As is the proper procedure, when allegations are made against the chief executive of an institution, and in this case an institution that ought to be seen as beyond reproach, the chief executive had to step down from his post and allow for a transparent and unhindered investigation.
“The EFCC does not revolve around the personality of an individual, and as such cannot be seen through the prism of any individual.
“Therefore, the suspension of Mr. Ibrahim Magu, allows the institution to continue carrying out its mandate without the cloud of an investigation hanging over its head.
“The EFCC has many good, hardworking men and women who are committed to its ideal and ensuring that the wealth of our country isn’t plundered and wherein there is an act of misappropriation such person(s) are brought to justice.
“Meanwhile, Mr. Magu is being availed the opportunity to defend himself and answer the allegations against him. This is how it should be, as is the fact that under the Laws of Nigeria every citizen is presumed and remains innocent until proven guilty.
“We must realise that the fight against corruption is not a static event, but a dynamic and ever evolving process, in which the EFCC is just one actor; and as we continue to work towards improving our democratic process so shall every institution of ours also embark on that journey of evolution.
“What is however important is that there must be accountability and transparency and our people must realize that they would be held to account. This is the building block in the fight against corruption, the establishment of the concept of accountability and the recognition of the rule of law.”
5. Corruption: More troubles for Magu; new facts emerge
The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, may be facing fresh cases of alleged re-looting of funds recovered by the commission as well as bribery.
Magu is currently being interrogated by a presidential probe panel headed by retired Justice Ayo Salami over allegations of mismanagement and lack of transparency in managing recovered assets by the EFCC.
A Final Report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May, 2015, to May 2020, obtained by NAN had seriously indicted and implicated Magu on various allegations leveled against him.
The investigative committee terms of reference were to:
1. investigate, verify and review the recommendations of the Presidential Committee on Audit of Recovered Assets as it relates to the EFCC, with a view to ascertaining the complicity or otherwise of the Ag. Chairman, Ibrahim Magu, in the mismanagement of the assets recovered by the Commission;
2. Identify Avenues through which the recovered assets are dissipated and seized, recovered, forfeited (Interim and Final) assets are valued, managed, disposed and/or mismanaged with a view to ascertain compliance or otherwise with extant laws, regulations, processes and procedures.
3. Review the existing procedures on the Management of the seized, recovered and Forfeited assets (interim and final) and proffer Standard Operational Procedures for the management of seized, recovered and forfeited assets.
4. Determine whether assets recovered during his tenure, whether locally in Nigeria or abroad, are being kept safely in a manner as to preserve their original value and determine
a.Whether all the assets could be properly accounted for by the Ag. Chairman.
b.To confirm if any of the assets has been diverted to the benefit of the Ag. Chairman, his family, relation, friends or favoured staff.
c.To recover any such diverted assets and return back to the EFCC or appropriate government agency.
The committee was also to investigate and report on corruption and money laundering allegations involving Magu and Bureau De Change operators, as well as some of his associates; as per the intelligence reports and petitions.
For Foreign currency recoveries, EFCC reported a total naira equivalent of N46,038,882,509.87, while the naira equivalent of the foreign currency lodgments were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21.
“These inconsistencies cast a serious doubt on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it.
“While EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were N543,511,792,863.47. These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.
“It must be pointed out that the discrepancy of more than thirty-nine billion naira does not include interest accrued in this account since it was opened.
“It, therefore, cast serious doubt on the credibility of the figures and means that substantial amount of money has not been accurately accounted for.
“Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion has been re-looted relating to the period under review.
“This is an apparent case of manipulation of data in a very brazen and unprofessional manner and this has greatly eroded the public confidence in the anti-corruption efforts,’’ the report stated in part
6. How Magu used ‘Pastor’ to launder funds abroad
A report by the Presidential Probe Panel has revealed details of how the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, allegedly used a cleric to launder funds abroad.
Magu is currently being interrogated by the panel headed by retired Justice Ayo Salami over allegations of mismanagement and lack of transparency in managing recovered assets by the commission.
However, a copy of the report in Abuja said one Pastor Emmanuel Omale of Hand of God Prophetic Ministry was used by Magu in laundering the funds.
Omale’s name was uncovered through an investigative report on EFCC’s activities by the Nigeria Financial Intelligence Unit (NFIU) and mentioned in the final report of the Presidential Committee on Audit of Recovered Assets (PCARA).
According to the report, the unknown clergy is alleged to have bought a landed property on behalf of Magu worth N573 million in Dubai, United Arab Emirates
7. Magu should not complain about how he’s being treated, they’re using his own ‘style’ —Fayose
Former Ekiti State Governor, Ayodele Fayose, on Saturday asked the presidential panel investigating the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, to formalise his detention.
Fayose, who made the call via his official Twitter handle, implored the panel headed by a former president of the Court of Appeal, Justice Ayo Salami, to obtain a 28-day remand order from court to give it sufficient time to complete the EFCC chief’s investigation for alleged corruption and insubordination.
Magu, who has been in detention since Monday, applied for bail through one of his lawyers, Oluwatosin Ojaomo, Friday.
The ex-governor said:
“The panel should formalise Magu’s detention by obtaining 28-day remand order from court to enable completion of investigations.
The panel must equally get temporary and permanent forfeiture of loots linked to him. That’s Magu’s style and procedure while in office. He can’t complain now.
“Wahab Shittu, EFCC lawyer turned Magu’s defender understands their style, so why is he complaining? Or didn’t he work with Magu to secure court orders to detain people indefinitely and forfeit properties linked to people being investigated?”
Fayose has a pending case with the EFCC having been arrested, detained and interrogated by the agency.
8. Magu must not be allowed to sleep in mosque but cell – Shehu Sani
Former senator, Shehu Sani on Saturday said the suspended acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu must not be allowed to sleep inside mosque but in a cell.
Sani said when the EFCC took him to their cell, the inmates respectably said he should sleep in the mosque, but that Magu refused and that he slept in the cell.
The former lawmaker said he just read somewhere that Magu went to sleep in the mosque of the Federal Criminal Investigation Department, saying it was wrong.
“When they took me to their cell, the inmates respectably said that I should sleep in the mosque, but their now embattled boss said no to sleeping in the mosque.
“So I slept in the Cell. I just read somewhere that he refused to sleep in the cell and went to sleep in the mosque of the FCID.
“It’s wrong to sleep in the mosque. He should be returned to ZA cell,” Sani said on his Facebook page.
