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Ahmed Idris, Suspended Accountant-General Voluntarily Returns $899,900 Cash — EFCC Witness

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Hayatudeen Ahmed, an official of the Economic and Financial Crimes Commission (EFCC), has told a high court that Ahmed Idris, the suspended accountant-general of the federation, has voluntarily returned $899,900 cash.

 

According to TheNation, the EFCC official said this on Wednesday while appearing as a witness during the proceedings at the high court in the federal capital territory (FCT).

 

Ahmed, who testified as the first prosecution witness, was led in evidence by Rotimi Jacobs, counsel to the EFCC.

 

The witness said the returned cash was part of the public funds allegedly diverted by Idris.

 

In May, TheCable had reported how Idris was arrested in Kano after he failed to respond to invitations by the EFCC to answer questions over the allegation of N80 billion fraud.

 

Hours later, Idris was suspended, and in July, he was arraigned on a 14-count charge alongside Godfrey Olusegun Akindele, Mohammed Kudu Usman, and a firm — Gezawa Commodity Market and Exchange Limited.

 

The defendants were granted bail in liberal terms.

 

“After the petition was assigned to our team, investigation commenced. We wrote to banks, the Corporate Affairs Commission (CAC) and other government agencies,” Ahmed said.

 

“From analysis of bank documents received, we discovered that a Baita Kura of B.I. Kura Enterprises, a bureau de change operator, made several deposits of money amounting to N280 million between 2019 and 2021 into the account of the fourth defendant – Gezawa Commodity Market and Exchange Ltd.

 

“Based on this finding, Baita was invited. He admitted in his statement that those monies that he paid into the first defendant’s (Idris’) account, were given to him by the first defendant.

 

“We discovered that the payments made were on the instruction of the first defendant. We also discovered from other bank statements analysis that a certain architect Mustapha Muktar of Marcs and Construction Ltd received various sums from Baita Kura, amounting to about N866 million.

 

“Based on this, we invited architect Mustapha, who gave statement and explained that the money he received from Baita were on the instruction of the first defendant.”

 

Ahmed also said investigation showed suspected corruption linked to deductions from the 13 percent derivation fund, following agitations by nine oil-producing states.

 

“It was discovered further that this agitation was tabled before the Post-mortem sub-committee of the Federation Account Allocation Committee (FAAC),” the EFCC witness said.

 

“The committee deliberated on the request and came up with a figure of about $2.2 billion as what was due to the nine oil-producing states. And, that deductions for this payment would be made over a 60-month period.

 

“A total of 11.5 percent of the total sum, which is equivalent N84.7 billion, was set aside as facilitation for some public officials to approve and release the request. This was done under the guise of consultancy.”

 

Ahmed said the services of Olusegun Akindele & Co, a firm belonging to the second defendant, was used for this purpose.

 

“The account of Olusegun Akindele & Co received the cumulative sum of N84.3 billion, representing 9.8 percent, less taxes from the 11.5 percent that was set aside earlier,” the EFCC witness said.

 

“He received the money in his First Bank account, from the FAAC withheld Escrow account, under the control of the first and third defendants (Idris and Usman).”

 

Ahmed said from the anti-graft agency’s findings, the money was shared among five groups — the RMAFC group represented by Chris Akumas received N18.7 billion; the accountant-general group represented by Idris got N18.1 billion, a group comprising finance commissioners of the oil-producing states received N21.4 billion; the fourth group represented by Abdulaziz Yari, former Zamfara governor, got N17.15 billion, while the fifth group was that of the consultant said to have received N8.9 billion.

 

“So far, the sum of $2.7 million, less $100, has been recovered in cash from the first, second and third defendants. As at today, N32 billion has been recovered from the five groups,” the prosecution witness said.

 

“From the accountant-general group, $2.7 million, less 100 dollars, was recovered. N304 million was also recovered from the group. Another N50 million was recovered from the third defendant, who is part of this group, in addition to properties recovered.

 

“The bulk of the N32 billion was recovered from the first, second and third groups. The sum of about N3 billion was traced to the construction of the commodity market at Gezawa Town, Kano, from funds received by the first defendant from the second and fifth groups.

 

“N504 million was also traced to the reconstruction of Alikhlas Supermarket also known as Kano City Mall, belonging to the first defendant, located at Mandarin area of Kano.

 

“In relation to the $2.7 million, less than $100,000 of the sum of $1.8 million cash was recovered from persons who received the $1.8 million from the first defendant.

 

“$900,000 less $100 was recovered from the first defendant himself, who returned same voluntarily. He returned it in cash, which has been received and registered as exhibit in this case by the commission.”

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BIG STORY

Again, Dangote Crashes Diesel, Aviation Fuel Prices Further To N940, N980 Respectively

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April 23, 2024

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Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, and N980 per litre respectively.

This is coming in the wake of its widely celebrated price reduction to N1,000 barely two weeks ago.

The price change of N940 applies to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.

Speaking on the new development, the Head of Communication, Mr Anthony Chiejina, explained that the new price is in consonance with the company’s commitment to cushion the effect of economic hardship in Nigeria.

“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable price, in all their stations be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”

He further stated that the partnership will be extended to other major oil marketers. “The essence of this is to ensure that retail buyers do not buy at exorbitant prices.

“The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce this new prices and hope that it would go a long way to cushion the effect of economic challenges in the country.

It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from 1200 to 1,000 Naira per litre barely two weeks ago.

This marks the third major reduction in diesel price in less than three weeks when the product sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre.

Nigerian President Bola Tinubu had also commended Mr Dangote for the initial price reduction, describing it as an “enterprising feat.”

Reacting to the latest development, The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Ajayi Kadiri, said that “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”

He added that “The trickledown effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.

“The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country; a lot of companies will be back in operation.”

 

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BIG STORY

Power Sector Crisis Has Defied All Solutions, We Need To Clear All Debts —Minister Adelabu

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April 23, 2024

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Adebayo Adelabu, minister of power, has described the power sector crisis as “historical”, stressing it has defied all solutions.

Adelabu spoke in Abuja on April 22 during a visit from the Senate committee on power.

The national electricity grid has suffered a total system collapse thrice in 2024, with the first being on February 4.

The country suffered another nationwide blackout on March 28, while the third collapse was experienced on April 15.

Adelabu blamed issues in the industry on uncompleted projects, urging the committee to approve funds for the completion of over 120 projects that litter across the country.

To boost electricity, he said there are plans to increase power generation from 4000 megawatts (MW) to 6000MW by the end of 2024.

The minister said the federal government plans to achieve this milestone using the hydro and solar plants to increase the supply of electricity to households and businesses.

“The infrastructure are lying there, without adequate maintenance, the turbines are getting rust,” Adelabu said.

”With proper investment put in place, we can generate 6000 megawatts before the end of 2024.”

‘NIGERIA’S POWER SECTOR NEEDS GAS’

Adelabu said gas suppliers have refused to supply more gas because of the debt the federal government owes.

He told the committee the federal government owes the generation companies over N1.3 trillion and also owes the gas suppliers $1.3 billion.

The minister urged the committee to address the debt matter.

In her presentation, Nafisat Ali, executive director of Independent System Operator (ISO), said gas has become a major constraint in the industry, adding that DisCos were still rejecting load despite the power shortage in the country.

“Today there is no gas. We need gas,” Ali said.

“The DisCos don’t abide by allocation. That is the challenge.”

Addressing the debt issue, Eyinaya Abaribe, the committee chairman, said the panel would interface with the federal government to settle the gas debt.

“Every option for us is on the table. If the option is for us to interface with the federal government to do their part, because it is a debt, so they have to pay their debt, we will do so,” Abaribe said.

He also said the committee will focus its oversight on the ministry and the Transmission Company of Nigeria (TCN) concerning the implementation of the World Bank project.

Furthermore, Abaribe said the committee has invited NERC and other stakeholders to answer some questions concerning the recently reviewed tariff on April 29.

Abaribe said the committee would review the penalties for power assets vandalization.

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BIG STORY

St.Ives Hospital Celebrates 3000 IVF Births

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April 23, 2024

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In line with its commitment to deliver total healthcare to its patrons and patients and etched a permanent smile on the faces of families, St. Ives Hospital recently celebrated a landmark three thousand (3000) in vitro fertilization, IVF births. The hospital, which is fast becoming synonymous with IVF success, has continued to record groundbreaking acclaim with its patients in its assisted reproductive technology initiative.

Many Nigerians who hitherto believed that their dreams of becoming parents via the IVF route can only be realized abroad are now the ones
recommending the hospital to others in the same situation as themselves.

The 3000 births success represents one of the highest rates in the medical industry in Nigeria.

St. Ives Hospital started out in 1996, with the family as the area of focus, dedicating its service to women, children, and the family at large.

Overtime, in 2007, it delved into fertility as a core area of competence and has since distinguished itself as the hospital of choice for those who are seeking the fruit of the womb. Among its outstanding feats was the delivery of a set of twins by a 68-year-old lady, which went on to be recorded as the oldest IVF mother in Africa.

The hospital, whose team is led by Dr. Babatunde Okewale, the founder and Chief Medical Director has continued to grow in leaps and bounds with presence at Ikeja, Ikoyi, Akowonjo, all in Lagos State, and Abeokuta in
Ogun State.

The FESTAC branch of the hospital is planned for opening in the third quarter of 2024. One of the outstanding features of the hospital is
the fact that there is a medical consultant on seat at each of its hospital branches.

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