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Nigeria On The Verge Of Bankruptcy — Emir Sanusi Drops Bombshell

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The Emir of Kano, Muhammad Sanusi 11, on Tuesday declared that Nigeria is on the threshold of bankruptcy following unfavourable economic policies such as subsidizing petroleum products and electricity tariffs.

The former Governor of the Central Bank of Nigeria, who spoke during the ongoing 3rd National Treasury Workshop organized by the office of the Accountant General of the Federation, holding in Coronation Hall, Government House, Kano, advised President Muhammadu Buhari’s Administration to cancel subsidy on petroleum products and electricity tariffs if the economy must stabilize.

According to him: “The country is bankrupt and we are heading to bankruptcy.

“What happened is that the Federal Government do pay petroleum subsidy, pay electricity tariff subsidy, and if there is rise in interest rates, Federal Government pays.

“What is more life-threatening than subsidy that we have to sacrifice education, health sector and infrastructure for us to have cheap petroleum?

“If truly President Buhari is fighting poverty, he should remove the risk on the national financial sector and stop the subsidy regime, which is fraudulent.”

Emir Sanusi insisted that Buhari must tell Nigerians the fact about the economic situation and also act quickly on it because the nation is already bankrupt.

According to him: “Since I have decided to come here, you have to accept what I have said here.

“And please, if you do not want to here the truth, never invite me.

“So let us talk about the state of public finance in Nigeria.

“We have a number of very difficult decisions that we must make and we should face the reality.

“His Excellency, the President, said in his inaugural speech that his government would like to lift 100 million people out of poverty.

“It was a speech that was well received not only in this country, but worldwide.

“The number of people living with poverty in Nigeria are frightening.

“By 2050, 85 per cent of those living in extreme poverty in the world will be from the African continent.

“And Nigeria and the Democratic Republic of Congo will take the lead.

“Two days ago, I read that the percentage of government revenue going to debt services has risen to 70 per cent.

“These numbers are not lying.

“They are public numbers.

“I read them in the newspapers.

“When you are spending 70 per cent of your revenue on debt servicing, then you are managing 30 per cent.

“And then, you continue subsidising petroleum products and spending N1.5 trillion per annum on petroleum subsidy!

“And then we are subsidising electricity tariff.

“And maybe, you have to borrow from the Capital Market or the Central Bank of Nigeria to service the shortfall in the electricity tariff.

“Where is the money to pay salaries?

“Where is the money for education?

“Where are other government projects?”

The Royal Father lamented that for 30 years, successive governments have had this project called petroleum subsidy, insisting that this is the right time to stop it so as to save the nation’s economy.

Speaking during the workshop, the Accountant-General of the Federation, Ahmed Idris, noted: “The overall objective of the workshop is to promote accountability and transparency in all facets of the nation’s public finance and management architecture.

“It is expected that participants should appreciate that accountability and transparency remain major watchwords for prudent financial management practices and are, therefore, major prerequisite for economic growth and development.”

Idris charged participants to strive towards identifying the challenges to accountability and transparency the management of public funds, improving independent revenue base and profile of government, as well as proffering revenue diversification for governments at all levels so as to cut down the cost of governance.

In his address, the chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, identified corruption as the bane of the country’s economic woes.

He warned public and private office holders to desist from corrupt practices, stating that his office has zero tolerance to corruption.

According to Magu: “Transparency and accountability are twin sisters of good governance.

“They are the tools to tackle corruption.

“It is true that we can leave a good legacy.”

Magu, however, called on the Federal and States Accountant-Generals to take the lead in the fight against corruption, adding that they must insist the right thing be done in their offices.

In his address, the Kano State Governor, Dr. Abdullahi Umar Ganduje, who was represented by his Deputy, Dr. Nasiru Yusuf Gawuna, said Kano State was the first to establish the Treasury Single Account in its bid to fight corruption and block leakages.

According to Ganduje, the state also put in place the Anti Corruption and Public Complaint Commission to checkmate corrupt practices of public servants in the state.

The Nation.

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Bandits Attack Confluence University Kogi, Abduct ‘Many Students’

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Bandits have attacked the Confluence University of Science and Technology (CUSTEC) Osara in Kogi.

It was gathered that the bandits invaded the university around 9pm on Thursday.

The incident occurred while students were reading in classrooms for their forthcoming examinations.

According to The Cable, a student under anonymity said that she was in ‘Class LR5’ with some other students for tutorials, when they heard a gunshot.

The student said they were shocked to hear the first boom of a gun, with several gunshots following in quick succession.

“We started scampering for safety and it appeared that the gunshots were coming from class LR3, where some students were also reading,” she said.

“I did not know where to run to. When I peeped through the window, I saw our security guard returning fire.”

The source disclosed that some students who managed to escape said the bandits were shooting at them as they fled the scene.

“This morning, we cannot find some of our course mates. Their phone lines are not reachable. We even saw someone’s phone on the floor. We don’t know the number of students that have been kidnapped,” the student said.

It was gathered that William Ovye Aya, Kogi police spokesperson, is yet to respond to phone calls and text messages on the incident.

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Lagos Court Sentences Man To 14Yrs In Prison For Sexually Assaulting 13-Yr-Old Disabled Boy

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The Lagos sexual offences and domestic violence court has sentenced one Success Odigoma Ude to 14 years in prison for sexually assaulting a 13-year-old boy with hearing and speech impairments.

The presiding judge, Rahman Oshodi, stated that the prosecution had proven the defendant’s sexual assault case beyond a reasonable doubt.

The youngster was sexually molested by Ude in the Ilufe neighbourhood of Ojo, Lagos, between May and August of 2021, according to the prosecution’s testimony in court.

The prosecution said the offence was contrary to the provision of section 261 of the criminal law, Ch. 17, Vol. 3, Laws of Lagos state, 2015.

Odigoma pleaded not guilty to the charge when he was first arraigned on February 17, 2022.

During the trial, the prosecution presented five witnesses against the defendant.

The defendant testified for himself while eight documents marked A to I were tendered as exhibits.

Giving the ruling, the presiding judge held that the victim was a young boy of 13 who could not consent to sexual activities.

The judge said he considered all the evidence presented in the case to find the defendant guilty and convicted him under section 262 of criminal law.

He held that the defendant was initially charged with the offence of sexual assault by penetration under section 261, which attracts a life sentence.

However, Oshodi said he found that the evidence established an attempt, rather than a complete offence.

Oshodi sentenced Ude to 14 years in prison and ordered that his name be registered as a sex offender.

“The term is to run from the date of your remand on September 1, 2021,” he ruled.

“This sentence sends a clear message that sexual exploitation of society’s most vulnerable members, especially children with disabilities, will be met with punishment.

“I can only hope that during your period of incarceration, you will come to appreciate the enormity of the harm you inflicted on an innocent child for your perverse gratification.”

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Police Nab Four Fake EFCC Operatives For ‘Robbery’ In Nasarawa

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Four people have reportedly been apprehended by the Nasarawa police command by agents posing as members of the state’s Economic and Financial Crimes Commission (EFCC).

The state’s police spokesperson, Ramhan Nansel, claimed in a statement on Thursday that a Federal Polytechnic Nasarawa student had been kidnapped by fictitious EFCC agents during a robbery operation.

According to Nansel, the suspects were part of a network that engaged in robberies against polytechnic students.

“On 17/04/2024 at about 1545hrs, a distress call was received that four individuals posing as EFCC personnel, using a Toyota Corolla green in colour with registration number Abuja YAB 509 TT robbed some students of Federal Polytechnic Nasarawa at Samakwe Lodge behind Government College, Nasarawa LGA and abducted one Audu Kingsley, an ND two student of the same Polytechnic,” the statement reads.

“Reacting to the unsavoury development, police operatives gave the suspects a hot chase and a roadblock was mounted at Laminga Junction to stop the suspects from escaping with the victim, but they hit the barrier and fled.

“Furthermore, police operatives at Anguwan Madugu called to mount another roadblock which the suspects sighted from a distance; they abandoned their operational vehicle and the abducted student and fled.

“Luck ran out of one of the suspects as he was caught and beaten mercilessly by an angry mob before the arrival of the police while others fled.

“The suspect was rescued by the police and rushed to Primary Health care, Laminga where he died while receiving treatment.

“The operational vehicle of the suspects was recovered and taken to the station where a search was conducted and two identification cards identifying the fleeing members of the syndicate were recovered.”

Nansel said the police conducted a follow-up investigation which led to the arrest of the remaining three suspects residing at Customs Quarters and the upmarket area of Masaka.

The police spokesperson said one iPhone 12 Promax, one Tecno Spark 5 and a fake EFCC ID card were recovered from the suspects as exhibits.

He further said the suspects confessed to the crime, adding that they had also been identified by some victims of their activities.

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