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Abuja-Lagos Highway To Be Completed In Four Years — Works Minister Umahi

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Nigeria’s minister of works, David Umahi, says the proposed Abuja-Lagos highway will be completed in four years.

The minister, in a press conference on Saturday, said driving from Lagos to Abuja will take 4 hours when the project is completed.

Umahi said the construction of the Lagos-Abuja highway is going to take four years, and the road will be made with concrete, which is “cheaper than asphalt”.

At the press conference in Lagos, Umahi who was flanked by Kenny Martins, the chairman of Advance Engineering Company, a consortium in charge of the highway, said the project, a Public Private Partnership (PPP), would be solely funded by the consortium in charge.

He added that the federal government would only be in charge of supervision.

“When I first introduced this to the public, many doubting Thomases were saying ‘it is impossible, Lagos-Abuja that is done in 14 hours cannot be done in four and half hours’, that is the renewed hope of Mr President,” he said.

“The president has approved that I fast-track this project. This project is going to be two lanes, but each lane is going to be a two-carriage way and it is going to be 14 metres.

“The only carriageway that is equivalent to this is the third mainland bridge where each carriageway is 14 metres. It is going to be built on 275-millimeter thick concrete.”

Umahi also said the live-shelf design of the project will be 100 years, adding that it would also include a number of bridges and tolling points.

“We are not putting any kobo but we will assist them in every direction. I give kudos to Advance Engineering Company, I am very satisfied with their concept and what they have put in place.

“So, the next thing is to bring the business proposal so we can negotiate on what the cost of the project is going to be. Then they go to the ministry of finance and negotiate on the issue of their money.

“The good thing is that we are building this road on concrete so we can predict the cost of this project. In asphalt, you cannot predict the cost. The cost of asphalt roads changes every month.”

The minister reiterated that “concrete roads are more durable and cheaper than asphalt”.

He also said he has given directives that “all ongoing projects that have not advanced up to 80 percent” should be completed using concrete.

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UPDATE [AFCON]: Libya Jittery As CAF Demands Response To Nigeria’s Protest

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The Libyan Football Federation is reportedly panicking after being asked by CAF to “submit documents” concerning the cancellation of the AFCON qualifying Group D match against Nigeria.

Nigeria had refused to play the match after their “plane was diverted to Labraq Airport” where they were “held hostage for 18 hours without food and water.”

According to Libya Al-Ahrar Channel, “Nasser Al-Suwaie,” Secretary-General of the Libyan Football Federation, confirmed that “CAF has given the Libyan and Nigerian associations until the 20th of this month to submit” all relevant documents.

Al-Suwaie further revealed that the Libya FA has “assigned a specialised lawyer” to provide evidence, suggesting “there may be collusion from some parties within CAF,” though he assured that the position of the Libyan Federation remains strong.

He clarified that “the Libyan Federation did not change the course of the plane’s landing,” which was a decision by “the Libyan state,” and this “sovereignty of the Libyan state must be respected.”

The “Super Eagles returned” to Nigeria with reports of difficult conditions, including “sleeping on the bare floor” of the airport. Team manager “Patrick Pascal” described how the “toilet had been deliberately seriously messed up by the Libyan officials” in anticipation of their arrival.

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FG Officially Ends Fuel, FX Subsidies, Unveils Housing Finance Plan To Tackle Unemployment

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The Federal Government has officially ended “fuel and Foreign Exchange (FX) subsidies,” Finance Minister and Coordinating Minister of the Economy, “Wale Edun,” announced on Thursday during the presentation of the Nigeria Development Update by the World Bank in Abuja.

Edun disclosed that the subsidies had significantly strained the nation’s economy, costing Nigeria around “N10 trillion,” which is about five percent of the country’s Gross Domestic Product (GDP).

“Fuel and FX subsidy are extinguished,” the minister stated, marking a major shift in economic policy.

In response to growing unemployment, the government is launching a new plan focused on housing finance.

The initiative includes a mortgage scheme with near single-digit interest rates, intended to boost construction and generate considerable job opportunities.

At the same event, Central Bank of Nigeria (CBN) Governor, “Olayemi Cardoso,” discussed the recent half-percent interest rate hike by the Monetary Policy Committee (MPC), attributing the increase to inflationary pressures.

He assured that future policies would be “data-driven and evidence-based.”

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Air Peace: U.S. Government Seeks Forfeiture Of Allen Onyema’s $14 Million Assets In Amended Fraud Case

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The United States government has requested the District Court, Northern District of Georgia, to approve the forfeiture of approximately “$14 million” in assets from Allen Ifechukwu Onyema, CEO of “Air Peace,” following a recent superseding indictment.

The indictment outlines allegations of fraud and money laundering against Onyema and his associate, Ejiroghene Eghagha, who serves as Chief of Administration and Finance at “Air Peace.”

The indictment includes multiple counts: Count One alleges “conspiracy to commit bank fraud,” while Counts Two through Four involve instances of “bank fraud.”

Count Five pertains to “conspiracy to commit credit application fraud,” and Counts Six through Eight are for “credit application fraud.” Counts Nine through Thirty-Five address “money laundering.”

If convicted of the charges in Counts One through Five, the defendants must forfeit property gained through these alleged crimes, including substantial sums in business-related bank accounts.

The U.S. government specifically seeks the forfeiture of “$4,017,852.51” from a JP Morgan Chase Bank account held by “Springfield Aviation Inc.,” “$4,393,842.05” from a Bank of Montreal account linked to “Springfield Aviation Inc.,” and “$5,634,842.04” from a Bank of Montreal account associated with “Blue Stream Aero Services, Inc.”

The indictment states that if these assets are unavailable, the U.S. will pursue other assets of the defendants of equivalent value.

The legal case is being led by U.S. Attorney Ryan K. Buchanan, with Garrett L. Bradford and Christopher J. Huber.

On October 13, it was reported that Onyema and Eghagha had been initially indicted in 2019 on charges of “conspiracy to commit bank fraud,” “bank fraud,” and “money laundering.”

The scheme allegedly involved using falsified documents to purchase aircraft and laundering over “$16 million” in proceeds.

In response to these charges, “Air Peace Limited” stated that its legal team is engaged in the matter and working to ensure justice.

Onyema now faces new charges for allegedly “obstructing justice” by submitting false documents to halt an investigation into earlier bank fraud and money laundering charges.

Eghagha is also implicated in the obstruction scheme and faces additional charges tied to the original bank fraud counts.

This information was disclosed in a statement by the U.S. Attorney’s Office, Northern District of Georgia.

“After allegedly using his airline company as a cover to commit fraud on the United States’ banking system, Onyema, along with his co-defendant, allegedly committed additional crimes of fraud in a failed attempt to derail the government’s investigation of his conduct,” said U.S. Attorney Ryan K. Buchanan.

“The diligence of our federal investigative partners revealed the defendants’ alleged obstruction scheme, making it possible for the defendants to be held accountable for their aggravated conduct of attempting to impede a federal investigation.”

US Attorney Buchanan further revealed that Onyema is linked to a complex financial scheme.

According to the superseding indictment and court records, Onyema, founder of “Air Peace” (established in 2013), frequently visited Atlanta between 2010 and 2018.

He is accused of opening multiple personal and business bank accounts in Atlanta, through which over “$44.9 million” was allegedly transferred from international sources.

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