Nigeria Owes N27.5 Trillion, DMO Reveals

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November 23, 2019

By Akinwale Kasali

This is not the best of time for the Nigeria economy following the declaration by the Debt Management Office, DMO, that Nigerian’s total debt profile has risen to N25.7 trillion.

The Director-General of DMO, Patience Oniha, made this revelation while addressing House of Representatives Committee on Public Account on Friday in Abuja.

“As at June 2019, our debt profile is at N25.7 trillion; this includes the federal, states governments and the Federal Capital Territory (FCT).

“We call it the total public debt, out of this total, the federal government is responsible for 80 per cent of the debt,” she said.

Oniha added that the external borrowing accounted for about 32 per cent of the total debt while 68 per cent was domestic.

The DMO is an agency of government which began operations in 2000 following the debt management problems of the country which led to debt relief.

The agency is also responsible for the management of public debts. Its mandate includes contracting debts on behalf of the Federal Government.

“If you look back several years, over 85 per cent of budget deficits are funded by borrowing which the DMO undertakes as approved by the Federal Executive Council and the National Assembly.

“We borrow from various sources, the multilaterals, the World Bank, Islamic Development Bank, the African Development Bank, China Exim and we also issue products in the international market.

“Locally, we are also very active in domestic borrowing, we issue treasury bills, federal government treasure bonds,” the DG said.

Ms Oniha disclosed that the DMO also serves as an advisory body for the federal government on debt management and put the debt at 25 per cent ratio to the Gross Domestic Product (GDP).

She explained that the agency did not receive any amount borrowed, saying that it was paid directly to the Central Bank of Nigeria (CBN) which ensured that the money was used for what was borrowed for.

The chairman of the committee, Wole Oke, said it was important for parliament to have all the relevant information documented.

He said the parliament needed additional facts and figures following the Minister of Finance’s revelations during the Ministry’s 2020 budget defence that revenue generation was a challenge in the country.

The lawmaker said the committee was determined to check Ministries, Departments and Agencies (MDAs) and to avert abuse of the law in the area of remittances of revenues generated.

Oke however said that even when the MDAs had powers to spend revenue generated, the committee was determined to ensure transparency and accountability.

“This country belongs to all of us, irrespective of the three arms the Constitution recognises, those in the Executives, Legislature and Judiciary are all Nigerians.

“We have to synergise to ensure this country progresses,” Oke concluded.

CISN Graduates 420, Advocates Gender Equity

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Bayo Bernard

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November 23, 2019

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By Fola James

The Certified Institute of Shipping of Nigeria (CISN) has advocated for gender balance to encourage productivity and profitability in organizations.

This assertion was made at the institute’s 2019 Annual Lecture, Investiture, Awards and Convocation ceremony.

Present at the investiture are officials of Nigerian Ports Authority, Nigerian Shippers Council, National Inland Waterways Authority and other critical stakeholders from the nation’s transport sector.

The over 20 years institute’s convocation coincided with the annual lecture and the officially commission of the ultra-modern Princess (Dr) Vicky Haastrup Multi-Purpose Auditorium.

In his paper themed “Gender Balance: Critical Resource and Leverage for Accelerated Growth In Nigeria’s Maritime Transport Sector”, the Rector of the Institute, Prof. Alex Okwuashi averred that gender imbalance accounts for organizational retardation, insisting that gender diversity in workplace is a tool for improving productivity and profitability.

The Don stated that the place of highly skilled women in contributing to accelerated growth in the maritime transport sector can only be realized through deliberate policy change.

Okwuashi noted that though marine technology is a highly specialized field but some women have made inroad and blazed the trail as pathfinders.

Notable among such women, he explained, is the current President of the CISN, Princess (Dr) Vicky Haastrup, who doubles as the Vice Chairman of ENL Consortium and Chairman of Seaport Terminal Operators Association of Nigeria (STOAN).

The Rector commended Haastrup for her able leadership through which a lot of grounds have been broken to pave the way for many other women to follow in order to fulfill their life aspirations in the maritime transport sector in Nigeria.

Other stakeholders who spoke at the event appealed to men to give women opportunities and stop discrimination against them.

They insist that women who combine domestic chores with office work should be encouraged to give their best.

Women were also charged to buckle up and get to the top with determination and hard work.

They described cultural and traditional inhibitions against women as outdated and not in tune with the present day reality.

The Rector, Maritime Academy of Nigeria, Oron, Commodore Duja Emma Effedua who was represented by the Academy’s Director of Maritime Services, Gabriel Eto, stated that the subjugation of women stems from chauvinism that has no rational basis because given the chance, women have proven their mettle in diverse areas of life.

Effedua stated that in Nigeria, gender inequality is mostly driven by cultural beliefs that are out of date.

Noting that women achievers abound in the maritime industry, he stated that a lot of sensitization about accomplishment and advocacy on women’s capabilities is very essential to achieve gender parity in the workplace.

Earlier, in her speech, Haastrup congratulated the fellows and graduands, charging them to be good ambassadors of the institute wherever they find themselves in life.

Her speech was read by the Chairman, Academic Advisory Board, Rear Admiral GSA Ombo (rtd).

11 students graduated with B. Sc in Transport and Logistics Management, 23 with post graduate diploma in Maritime Transport while 96 graduated in Higher Professional Diploma in Maritime Transport.

The institute also honoured six dignitaries with various Fellowship Awards.

FIFA Beach Soccer World Cup: Portugal Humiliates Nigeria

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The Source

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November 23, 2019

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By Akinwale Kasali

The Nigeria Beach Soccer team, ‘Super Sand Eagles’ started its FIFA Beach Soccer World Cup campaign against Portugal at the Asuncion beach, Paraguay, suffering a 10-1 loss to the World number two.

Nigeria took the lead against the Portuguese, before the tides changed, with the Europeans overwhelming Nigeria, defeating the Super Sand Eagles 10-1 to establish a dominant early lead in Group D.

Azeez Abu set the ball rolling for the Super Sand Eagles with an assured finish at the very end of the first period, but then it was all Portugal from there.

The Selecção das Quinas went on to score an incredible ten unanswered goals, with five each in the second and third periods.

Nigeria had opportunities but weren’t clinical enough, while their opponents were the exact opposite. It was an unusual type of goal that kick-started the Portuguese goal-rush as Belchior scored directly from a corner kick.

Portugal never looked back from there, with legend Madjer scoring the final goal of the match.

Nigeria faces Oman in its next match.

Indictments: Allen Onyema Denies Allegations, Says All Monies passed Through CBN

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Uche Mbah

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November 23, 2019

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By Uche Mbah

Air Peace Chief Executive Officer, Allen Onyema, has denied any wrongdoings, saying that he is innocent of the allegations contained in the indictment from the United states, saying that it is not in line with his character as a person and as a business man. According to him, his only aim is to improve well being and to build Nigeria.

Onyema said in a statement that the indictment only contains charges.” I am innocent of all charges and the US government will find no dirt on me because I have never conducted business with any illegalities”, he said.

Noting that he has never laundered money in his life, he disclosed that his Lawyers are already working on the case.” These aremere allegations (and) will be refuted”, he said.

“I never laundered money in my life, neither have I committed bank fraud anywhere in the world. Every Kobo I transferred to the US for aircraft purchase went through the Central Bank of Nigeria LC regime and all were used for the same purpose.

“The American companies that received the funds are still in business. I never took a penny from any US bank or Nigerian bank. I am willing to defend my innocence in the US courts,” Onyema stated.

This magazine has reported the indictment of the Air Peace CEO by the United States of Money laundering and bank fraud, for moving more than $20 million from Nigeria through United States bank accounts. He was also accused of falsifying documents for Aircraft purchase.

Bayelsa: Plot To Suspend Jonathan Thickens

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Bayo Bernard

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November 23, 2019

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Goodluck Jonathan congratulates Douye Diri as Bayelsa State governor

Clash With Dickson Gets Messy

By Tosin Olatokunbo

The Peoples’ Democratic Party, PDP Bayelsa state governorship election loss was a terrible hit on the party which has ruled the state for close to 20 years.

It was also a big slap on former President Goodluck whose party, PDP ruled the state since 1999, after Nigeria returned to civil rule.

Nothing can be more devastating for Governor Seriake Dickson who did everything in ensuring that his cousin succeeded him as governor.

Jonathan and Dickson once threw banters as political allies but are now exchanging jabs as a result of the monumental loss to their party.

But the magazine learned that the dispute could get bad because “the governor could use his influence in Bayelsa PDP to suspend Jonathan from the party,” a source close to the ex-president said.

The state PDP is currently under the beck and call of the governor, another source said.

David Lyon, the APC candidate trounced his counterpart in the PDP, Douye Diri in the fiercely contested election on November 16.

While the party had yet to come to terms with reality that it has lost the state to the APC, it will also take a long time for the contending gladiators to reconcile their differences which led to the loss of the oil rich state to rampaging APC.

Aftermath of the election, Governor Dickson had blamed those he said worked against the interests of the party for its loss.

One of his detractors, the governor said, is former President Goodluck Jonathan.

The ex-president had yet to respond to the allegation.

But it was very clear that the former president did not support Lyon for the election.

His preferred candidate for the election is Timi Alaibe, a former managing director, Niger Delta Development Corporation, NDDC.

While Governor Dickson and his supporters have not relented on their blame on Jonathan for tactfully helping the opponents to capture the state, other PDP stalwarts have also joined the fray in putting the blame at the door steps of the ex-leader.

The latest is former Governor Sule Lamido of Jigawa state who has now taken sides with those blaming Jonathan for Diri’s and PDP loss.

In a recent Facebook post sent by his media aide, Mansur Ahmed, the former governor claimed that Jonathan supported the ruling All Progressive Congress, APC candidate in order to avoid probe in the famous Malabu oil scam.

“And finally compromising Bayelsa State with the Malabo oil 1billion Dollar scam for his freedom!,” Lamido said in the post.

Details of Malabu Oil Scam

Malabu Oil Deal The Malabu oil scandal involved the transfer of about $1.1 billion by Shell and ENI through the Nigerian government to accounts controlled by a former Nigerian petroleum minister, Dan Etete.

About half the money ($520 million) went to accounts of companies controlled by Aliyu Abubakar, popularly known in Nigeria as the owner of AA oil, suspected to be fronting for top officials of government and Shell and ENI collaborators. According to a PREMIUM TIMES report, the transaction was authorised in 2011 by Mr Jonathan through some of his cabinet ministers and the money was payment for OPL 245, one of Nigeria’s richest oil blocs.

Although Shell and ENI initially claimed they did not know the money would end up with Mr Etete and his cronies, evidence has shown that claim to be false.

Shell, Eni, Mr Etete, Mr Aliyu and several officials of the oil firms are being prosecuted in Italy for their roles in the scandal.

A British judge had also said she was convinced the ‘fortunato’ referenced in various OPL 245 mails referred to ex-President Jonathan.

Meanwhile, some close aides of the former president told the magazine that Jonathan cannot be held responsible over what transpired in the Bayelsa governorship election.

They blame the irreconcilable differences among the state’s PDP chieftains for the loss that the party suffered.

Allen Onyema, Air Peace Owner, Is Fraudulent, Says The US

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The Source

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November 23, 2019

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By Akinwale Kasali

In a revelation that is bound to shock Nigerians and the Aviation industry, the United States of America has declared Allen Onyema, the Chairman/Founder of Nigeria’s large Airline, Air Peace, a fraud and a criminal.

The United States Department of Justice, through the Attorney’s Office, Northern District of Georgia, indicted Onyema, and charged him for bank fraud and money laundering offences.

Onyema allegedly moved more than $20 million from Nigeria, through United States bank accounts.

The scheme, according to the State Attorney’s office, involves false documents based on the purchase of airplanes.

The international airline’s Chief of Administration and Finance, Ejiroghene Eghagha, has also been charged with bank fraud and committing aggravated identity theft in connection with the scheme.

“Onyema allegedly leveraged his status as a prominent business leader and airline executive while using falsified documents to commit fraud,” said U.S. Attorney Byung J. “BJay” Pak.

“We will diligently protect the integrity of our banking system from being corrupted by criminals, even when they disguise themselves in a cloak of international business.”

Robert J. Murphy, the Special Agent in Charge of the DEA Atlanta Field Division, commented on the indictment: “Allen Onyema’s status as a wealthy businessman turned out to be a fraud. He corrupted the U.S. banking system, but his trail of deceit and trickery came to a skidding halt. DEA would like to thank the many law enforcement partners and the subsequent prosecution by the U.S. Attorney’s Office who aided in making this investigation a success.”

“This case is a prime example of why IRS-CI seeks to partner and leverage its expertise in an effort to thwart those seeking to exploit our nation’s financial system,” said Thomas J. Holloman, IRS-Criminal Investigation Special Agent in Charge of the Atlanta Field Office.

“With the importance of our banking system to the movement of money around the world, those attempting to use intricate schemes to commit bank fraud through the use of falsified documents and other means should know that the odds are now heavily stacked against them as law enforcement is combining its talents to protect the sanctity and integrity of the nation’s financial system.”

“Onyema set up various innocent sounding multi-million dollar asset purchases which were nothing more than alleged fronts for his scam,” said acting Special Agent in Charge Robert Hammer, who oversees HSI operations in Georgia and Alabama.

“I’m proud to be part of a team of law enforcement agencies that come together to identify and attack criminals that attempt to profit from the exploitation of our nation’s financial systems.”

According to U.S. Attorney Pak, the indictment, and other information presented in court: “Onyema, a Nigerian citizen and businessman, is the founder and Chairman of several organizations that purport to promote peace across Nigeria, including the Foundation for Ethnic Harmony, International Center for Non-Violence and Peace Development, and All-Time Peace Media Communications Limited.

“Beginning in 2010, Onyema began travelling frequently to Atlanta, where he opened several personal and business bank accounts.

“Between 2010 and 2018, over $44.9 million was allegedly transferred into his Atlanta-based accounts from foreign sources.

“Onyema is also the CEO and Chairman of Nigerian airline Air Peace, which he founded in 2013. In years following the founding of Air Peace, he travelled to the United States and purchased multiple airplanes for the airline.

“However, over $3 million of the funds used to purchase the aircraft allegedly came from bank accounts for Foundation for Ethnic Harmony, International Center for Non-Violence and Peace Development, All-Time Peace Media Communications Limited, and Every Child Limited.

“Beginning from approximately May 2016, Onyema, together with Eghagha, allegedly used a series of export letters of credit to cause banks to transfer more than $20 million into Atlanta-based bank accounts controlled by Onyema. The letters of credit were purportedly to fund the purchase of five separate Boeing 737 passenger planes by Air Peace.

“The letters were supported by documents such as purchase agreements, bills of sale, and appraisals proving that Air Peace was purchasing the aircraft from Springfield Aviation Company LLC, a business registered in Georgia.

“However, the supporting documents were fake — Springfield Aviation Company LLC, which is owned by Onyema, and managed by a person with no connection to the aviation business, never owned the aircraft, and the company that allegedly drafted the appraisals did not exist.

“Eghagha allegedly participated in this scheme as well, directing the Springfield Aviation manager to sign and send false documents to banks and even using the manager’s identity to further the fraud.

“Onyema was said to have received the money in the United States, and allegedly laundered over $16 million of the proceeds of the fraud by transferring it to other accounts.

“Onyema, 56, of Lagos, Nigeria, and Eghagha, 37, of Lagos, Nigeria, were indicted on November 19, 2019, on one count of conspiracy to commit bank fraud, three counts of bank fraud, one count of conspiracy to commit credit application fraud, and three counts of credit application fraud.

“Additionally, Onyema was charged with 27 counts of money laundering, and Eghagha was charged with one count of aggravated identity theft.

“Members of the public are reminded that the indictment only contains charges. The defendants are presumed innocent of the charges and it will be the government’s burden to prove the defendant’s guilt beyond a reasonable doubt at trial.

“The Drug Enforcement Administration, Internal Revenue Service Criminal Investigation, U.S. Immigration and Customs Enforcement’s Homeland Security Investigations, Federal Aviation Administration, Department of Commerce, and Department of Treasury are investigating this case.

“Assistant U.S. Attorneys Garrett L. Bradford, Deputy Chief of the Narcotics and Dangerous Drugs Section and Lead Strike Force Attorney, Irina K. Dutcher, and Christopher J. Huber, Deputy Chief of the Complex Frauds Section, are prosecuting the case, with assistance from the Department of Justice’s Money Laundering and Asset Recovery Section and Office of International Affairs.

“This prosecution was brought as a part of the Department of Justice’s Organized Crime Drug Enforcement Task Forces (OCDETF) Co-located Strike Forces Initiative, which enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations against a continuum of priority targets and their affiliate illicit financial networks.

“These prosecutor-led co-located Strike Forces capitalize on the synergy created through the long-term relationships that can be forged by agents, analysts, and prosecutors who remain together over time, and they epitomize the model that has proven most effective in combating organized crime.”

The specific mission of the Atlanta Strike Force is to disrupt and dismantle the most significant drug trafficking and money laundering organizations designated as Consolidated Priority Organization Targets or Regional Priority Organization Targets and their affiliates impacting the Atlanta metropolitan area and the Northern District of Georgia.

Chief Onyema’s profile in Nigeria, shot up astronomically, after he deployed his Airline’s Boeing 777 to South Africa on a rescue mission of Nigerians who were himiliated, and their businesses burnt in a xenophobic attack.

He became an immediate hero and a toast, and a role model in the country, with the National Assembly recommending him for a National Honour.

How his present indictment on alleged criminal activities by the US will affect his Airline business and other businesses will unfold in the coming days and weeks and months.

Lagos Assembly Sacks Ifako Ijaiye LCDA Chairman

By

The Source

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November 22, 2019

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By Akinwale Kasali

The Mudashiru Obasa-led Lagos State House of Assembly has sacked the Ifako Ijaiye Local Council Development Area Chairman, Oloruntoba Oke, for mismanagement of the Council’s fund.

Speaker Obasa announced the sack of Oke after the committee set up to investigate the misappropriation of N350 million loan received by the Council submitted its report.

The Committee further indicted Oke for financial misappropriation and recklessness.

Officials and Councilors of the Council petitioned the Chairman over the misappropriation of the loan, prompting the Assembly to wade into the matter.

Obasa instructed the Vice Chairman to fill the vacuum left behind by the sacked Chairman, saying that the move by the Assembly will deter other Council Chairmen from toying such path.

The Speaker stressed that in line with President Muhammadu Buhari and the All Progressives Congress, APC’s fight against corruption, it was necessary to sack Oke and also to curb the financial anomalies and recklessness of Council Chairmen.

Sowore Sues DSS, Demands N500 Million

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The Source

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November 22, 2019

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By Akinwale Kasali

Convener of #RevolutionNow, Omoyele Sowore has sued the Department for State Security, DSS, for infringing on his Fundamental Human Rights. He is demanding for the sum of N500 Million.

The Presidential Candidate for African Alliance Congress, AAC, at the last general election, has been in detention since August 3, 2019.

Sowore is asking the court to order the DSS to pay him N500m as general and aggravated damages for his detention and violation of fundamental rights. Hus action was reported by Sahara Reporters.

Sowore is the Editor-in-Chief of Sahara Reporters.

He made the demand in a suit marked FHC/ABJ /C51409/2019, and dated November 20, 2019 in Abuja today.

His demands: “A declaration that the detention of the applicant from November 7, 2019, till date in violation of the order for his release made on November 6, 2019, is illegal as it violates his fundamental right to liberty guaranteed by Section 35 of the constitution of the Federal Republic of Nigeria 1999 (as amended) and Article 6 of African Charter on Human and Peoples’ Rights (Ratification and Enforcement Act (CAP A10) Laws of the Federation of Nigeria 2004.

“An order of this court compelling the respondents to pay to the applicant the sum of N500,000, 000, 00 ( Five hundred million naira) as general and aggravated damages for the illegal violation of the applicant’s fundamental right to life, dignity of his person, fair hearing, health, freedom of movement and freedom of association.

“An order of perpetual injunction restraining the respondents from further violating the applicant’s fundamental rights in any manner whatsoever and however without lawful justification.”

Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), is joined in the suit.

Sowore was arrested in Lagos on August 3, 2019 for “for threatening public safety, peaceful co-existence and social harmony in the country.”

Amnesty International, AI, on Thursday, declared Sowore and two others, Prisoners of Conscience.

Sokoto Guber: Tambuwal Wins at Appeal Court

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Uche Mbah

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November 22, 2019

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By Uche Mbah

The court of Appeal sitting in Sokoto has upheld the ruling of the election Tribunal which ruled that the Sokoto state governor, Aminu Tambuwal, duly won the governorship election of the state.

The court, however, awarded no cost against the Appellant.

The four member panel was led by Justice Husseini Muktar who read the unanimous decision Friday.

The Court dismissed the appeal citing lack of merit, and took time to resolve all knotty issues in favor of Tambuwal.

Ahmed Aliyu of the All Progressives Congress, APC had on October 16 2019 approached the appellate Court to nullify the ruling of the tribunal which gave Tambuwal victory. Tambuwal is of the Peoples Democratic Party, PDP.

Refineries: Reps Probe Buhari’s N277bn Spending

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Bayo Bernard

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November 22, 2019

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By Tosin Olatokunbo

Few days after the Group Managing Director, GMD, Nigerian National Petroleum Corporation, NNPC Mele Kyari disclosed the readiness of his management to commence repair of all major refineries across the country, the House Of Representatives has launched investigation that may yet uncovered another scam in the nation’s petroleum sector.

On Wednesday, the nation’s lower house directed a committee to probe close to $400m spent by the government owned corporation as turn-around maintenance cost in the last four years.

The probe will cover three refineries in Port Harcourt, Warri and Kaduna states.

The probe came following unanimous adoption of a motion entitled ‘Call for investigation of the $396.33m allegedly spent in four years on turn around maintenance of the nation’s three refineries.

Experts in the sector believe that huge sum of money spent to revamp the ailing refineries is a waste, particularly when there are no results to show for it.

In fact, the thinking among most Nigerians is that the refineries have become a drained pipe on the nation’s lean resources, and therefore should either be privatized or out-rightly sold off.

Representative Ifeanyi Momah, had on Thursday, called for the probe, alleging that the amount spent on maintenance of the facilities had failed to bring the refineries back to work.

Momah said Nigeria had been living with the “derogatory appellation” of being a major oil producing nation that is heavily reliant on importation of refined petroleum products for its domestic consumption as a result of its low local refining capacity.

He explained that despite the fact that the country has three major refineries with installed capacity to refine 445,000 barrels per day, enough for domestic consumption and export.

He said, “This objective has not been realised owing to a combination of factors, including corruption and inefficiency in the running of the refineries.

The House observes the assertion by the Nigeria National Resource Charter in the report that the NNPC spent a whopping $396.33m between 2013 and 2017 to carry out repair works.

The House also observes the claim that the NNPC spent N276.872bn on operating expenses of the refineries between 2015 and 2018, as well as $36bn on importation of petroleum products between 2013 and 2017,” Momah said during plenary.

The lawmakers said the federal government should consider “divesting a certain percentage of its shareholding in the Port Harcourt, Warri and Kaduna refineries to competent investors under a transparent and fair bidding process,” instead of continuous wastage of taxpayers’ fund on the refineries.

Therefore, the House directed the Committee on Petroleum Resources (Downstream) to conduct an investigative hearing into the maintenance expenses starting from 2013 to date.

The committee is expected to report back within eight weeks.