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Buhari Pushed Nigeria To Top 10 Most Improved Economies – Lai Mohammed

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President Muhammadu Buhari put Nigeria in the top 10 most improved by implementing over 150 recommendations of Enabling Business Environment Council (PEBEC), Alhaji Lai Mohammed, minister of information and culture, has said.

The minister explained that the reforms were responsible for moving Nigeria up 39 places on the World Bank Doing Business Index since 2016.

Mohammed who disclosed this during a visit to the IshK Tolaram Foundation in Lagos, yesterday, said: “To understand the significance of Nigeria moving up in the World Bank Doing Business Index, we have to recall that between 2007 and 2015, Nigeria lost 64 places in the World Bank ease of doing business ranking.”

According to him, as a result of the reforms, the 2018 Sub-national Doing Business report on Nigeria recorded unprecedented improvement, adding that the World Economic Forum, WEF, in its 2018 Global Competitive Report, recognized Nigeria’s business environment as one of the most entrepreneurial in the world, and highlighted Nigeria’s improved competitiveness in enabling business environment.

He also said the Companies and Allied Matters Act, 2020, CAMA 2020, signed by President Muhammadu Buhari, Nigeria’s most significant business legislation in three decades, introduced at least 15 new provisions that promoted ease of doing business and reduce regulatory hurdles in Nigeria.

The minister said PEBEC also collaborated with the National Assembly on the Secured Transaction in Movable Asset Act, STMA, 2017 and the Credit Reporting Act, 2017, which provides a legal framework for collateralization of moveable assets with the creation of the National Collateral Registry, while CRA 2017 enhances credit reporting in Nigeria.

“The creation of a National Collateral Registry, NCR, of movable assets by the Central Bank of Nigeria, CBN, with the support of the International Financial Corporation, IFC, in May 2016 ensures that functional equivalents of collaterals can be registered. To date, over N1 trillion assets have been uploaded on the Registry,” he said.

Other reforms listed by the minister include visa on arrival for business people, reduction in the time it takes to register a company at the Corporate Affairs Commission, CAC, through the Company Registration Portal, CRP, from about two weeks to just a few days and the introduction of the electronic filing and payment of federal taxes.

Mohammed commended the IshK Tolaram Foundation for its programs in Nigeria, especially in the areas of healthcare, entrepreneurial and vocational training, saying the artificial limbs provided free of charge had inspired hope for the beneficiaries.

He said: “I am reliably informed that the Foundation, through its IshK Limb Centres in Lagos and Port Harcourt, and mobile camps, has provided more than 19,000 free prosthetic limbs.

“I am also aware that 242 students have graduated from the Foundation’s vocational skills training program, while 157 have started earning their livelihood through jobs and start-ups. This is quite impressive and I congratulate the IshK Foundation for this feat.’’

The Programme Director of ISHK Foundation, Ms. Neha Mehra, who conducted the ministry around the Lagos center, said the foundation, which is funded with 25 percent of the profit from the Tolaram Group, was set up as the next step in a 100-year history of philanthropy at Tolaram.

She said the Foundation partners with churches, mosques, hospitals, and NGOs to identify and support people requiring artificial limbs free of charge.

Some of the beneficiaries of the Foundation’s activities were on hand to brief the minister on how the quality of their lives had been enhanced by such activities.

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Yahaya Bello: EFCC Confirms Refund Of $760,000 From American International School Abuja

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The American International School in Abuja has reimbursed the Economic and Financial Crimes Commission (EFCC) for the amount of $760,910 that it was previously paid by former Kogi State Governor Yahaya Bello for his children’s advanced school fees.

Dele Oyewale, the EFCC spokesperson, verified this on Saturday.

The school requested the anti-graft agency’s “authentic banking details” in a letter dated October 24, 2022, in order to pay the reimbursement “as part of investigation into the alleged money laundering activities by the Bello family.”

The sum of $845,852 was said to be paid to the school between September 2021 and October 2022. The school said it deducted the educational services rendered between the period, with the remaining amount being $760,910.

The EFCC is prosecuting Bello on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion. The matter is before Justice Emeka Nwite of the Federal High Court in Abuja.

EFCC chief Ola Olukoyede, who vowed to prosecute Bello or resign, alleged that the embattled ex-governor withdrew $720,000 from the state’s accounts to pay his child’s school fees in advance just before he left office on January 27, 2024.

The anti-graft commission had declared Bello wanted after his successor, Governor Usman Ododo allegedly whisked him away on April 17, 2024, preventing EFCC operatives to arrest him (Bello) when they laid siege to his Abuja residence.

Meanwhile, a Kogi State High Court sitting in Lokoja has ordered EFCC chairman to appear in court on May 13, 2024, to show cause why an order of committal should not be made against him for allegedly disobeying court order.

The EFCC boss is facing a contempt charge for carrying out “some acts upon which they (the EFCC) have been restrained” by the Court on February 9, 2024, pending the determination of the substantive Originating Motion.

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Yahaya Bello: Kogi Court Summons EFCC Chairman Olukoyede Over Alleged Contempt

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Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), has been directed by a Kogi State High Court in Lokoja to appear in court on May 13, 2024, to provide justification for not having an order of committal placed against him for allegedly defying a court order.

A contempt charge has been brought against the EFCC chairman for executing “some acts upon which they (the EFCC) have been restrained” by the Court on February 9, 2024, while the Originating Motion’s merits are being determined.

Justice I. A. Jamil, delivering a ruling in Suit No: HCL/68M/2024 and Motion No: HCL/190M/2024, ordered that “the said act was carried out by the Respondent (EFCC) in violation of the order, which was valid and subsisting when they carried out the act. That same act of the Respondent amounts to Contempt.

EFCC operatives had laid siege on the residence of the immediate past Governor of Kogi State, Alhaji Yahaya Bello, as early as 8 am on April 17, 2024, with a bid to arrest him, despite a court order restraining them from taking such action, pending the determination of the Originating Motion.

Justice Jamil’s order was based on a motion ex-parte filed by Yahaya Bello through his lawyer, M.S. Yusuf, where he prayed to the court for an order to issue and serve the Respondent (EFCC Chairman) with Form 49 Notice to show cause why Order of committal should not be made on Olukoyede.

Having listened to the arguments of the Applicant’s counsel, the submission and the exhibits attached in the Written Address, Justice Jamil granted Yahaya Bello’s prayers and ordered Olukoyede to be summoned to appear before the court to answer the contempt charge.

Delivering his order on the motion on April 25, 2024, Justice Jamil said, “The applicant’s application before me is to the effect that the Respondent has carried out some acts upon which they have been restrained by this Court on the 9th of February, 2024, pending the determination of the substantive motion on Notice before this Court.

“That the said act was carried out by the Respondent in violation of the order which was valid and subsisting when they carried out those acts. That same acts of the Respondent amount to acts of contempt.

“That the Respondent should be summoned to appear before this Court to answer to the contempt charge.

“It’s against the above facts that this Court hereby grants the prayers sought in line with the principle of “Audi Ultra Patem”. To wit:

“An order of this Honourable Court for the issuance of Form 49 Notice to show cause why an order of committal should not be made against the Executive Chairman of the Respondent – Economic and Financial Crimes Commission (EFCC).

“An order for service of Form 49-Notice to show why an order of committal should not be made on the Executive Chairman of the Respondent – Economic and Financial Crimes Commission (EFCC) at EFCC Corporate Headquarters, Plot 301/302, Research and Institution District, Abuja.

“This matter is adjourned to the 13th of May, 2024 for the Respondent’s Chairman to appear before this Court in answer to form 49 ordered to be served on him.”

 

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Naira Depreciates Because I Was Out Of The Country — Odumeje

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The Mountain of Holy Ghost Intervention and Deliverance Ministry’s Prophet Chukwuemeka Ohanemere, popularly known as Odumeje, declared that he had returned to Nigeria in an effort to halt the dollar’s appreciation relative to the Nigerian Naira.

Odumeje, in a video recorded at the airport while returning from London, boasted: “This is Indaboski Bahose. The war and the battle. A man full of power and activities. The only man who tells you, “I will bring down a dollar,” and he gets it done. When I left the country, dollar began to rise; now, I am back, I will continue where I stopped.”

In a video recording of one of his church programmes a few weeks ago, the self-acclaimed prophet had claimed that the exchange rate of dollar to naira came down because of one of his powers, which he dubbed ‘Abidoshaker.’

His claims came on the heels of the Nigerian currency’s significant gains after exchanging at N1,920 per dollar.

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