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EFCC Grills Bank MDs, Others For Re-Looting Abacha Loot, Tampering With COVID-19 Funds, World Bank Loan

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In the course of its ongoing investigation into claims of financial theft in the Ministry of Humanitarian Affairs, Disaster Management, and Social Development, the Economic and Financial Crimes Commission has disclosed that it has interrogated the Managing Directors of certain banks and suspended officials.

According to the EFCC, the investigation has shown that the bank officials and MDs engaged in a number of nefarious activities.

The EFCC’s stance was influenced by responses to the Ministry of Humanitarian Affairs, Disaster Management, and Social Development’s investigation.

As a precursor to the commencement of investigation, the Minister in charge of the Ministry, Betta Edu, was suspended, while her predecessor, Sadiya Umar-Farouq, and the Coordinator of the National Social Insurance Programmes Agency, Halima Shehu, have also been quizzed.

In a statement by its Head of Media and Publicity, Dele Oyewale, on Sunday, the anti-graft agency said its response to the probe stemmed from the “rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development”.

It said at the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7 billion and $445,000 so far.

Oyewale said discreet investigations by the EFCC have opened other fraudulent dealings involving COVID-19 funds, World Bank loan and Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate.

He said investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance, adding: “It is instructive to stress that the Commission’s investigations are not about individuals.

“The EFCC is investigating a system and intricate web of fraudulent practices.

“Banks involved in the alleged fraud are being investigated.

“Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions.

“Those found wanting will be prosecuted accordingly.

“Additionally, the EFCC has not cleared anyone allegedly involved in the fraud.

“Investigations are ongoing and advancing steadily.

“The public is enjoined to ignore any claim to the contrary.”

BIG STORY

Lagos State Government To Concession Red And Blue Line Rails For Sustainability, Loan Repayment

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The Lagos State Government has announced plans to concession the operations of the Red and Blue Line rail systems to the private sector in order to ensure their sustainability and repay loans taken for the rail projects.

This announcement was made by the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, during a recent TVC News interview, where he discussed the measures being implemented to ensure the continued viability of the state’s rail systems.

Osiyemi explained that the concessioning process would involve transferring the operations of the rail systems to private sector players for a defined period. This approach is intended to ensure the continued operation and effective management of the rail projects.

“The ultimate game is for all our rail systems we’ve done—that is, the Red Line and Blue Line—there is going to be some concessionairing with the private sector for a period of time to ensure sustainability and continuity,” he stated.

He added, “The concessioning would help pay back the loans taken for the rail projects.”

The commissioner emphasized that the concessioning strategy aims to ensure efficient operations and long-term financial sustainability, in line with the state’s vision for a world-class transportation network.

  • More Insight

Osiyemi further highlighted the substantial financial and technical challenges involved in operating rail systems, describing them as capital-intensive projects that require significant resources and specialized expertise.

To tackle these challenges and build local capacity, he noted that the Lagos State Government has enlisted foreign partners to temporarily manage the operations of the trains.

These partners are expected to not only ensure smooth operations during their tenure but also transfer critical skills to Nigerian personnel. The plan includes a structured training program lasting one to two years, after which the management of the rail systems will be fully handed over to local operators.

“What we have done is we have consulted foreign partners who, of course, would run these trains for a particular period of time and train our people—that is, transfer of skills.”

“They will train our people for one to two years, then hand over for our own management,” Osiyemi explained.

  • Things You Should Know

The Lagos State Government, under its Lagos Strategic Transport Master Plan, has set out an ambitious vision to develop a network of rail systems across the state.

Currently, only the first phases of the Red Line and Blue Line rail systems have been completed, with passenger services already in operation.

The Blue Line is a 27km electric rail line designed for sustainable operations. Its first phase, covering 13km from Lagos Marina to Mile 2, was completed in 2023 and began commercial operations in September, carrying over 2 million passengers to date.

The Red Line, spanning 37km from Agbado in Ogun State to Oyingbo in Lagos, operates on diesel. Its first phase, a 27km stretch, includes eight strategically located stations: Agbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba, and Oyingbo.

The construction of the second phases of both the Red Line and Blue Line rail systems is being managed by the China Civil Engineering Construction Corporation (CCECC), which also oversees the operation of the trains.

Beyond the Red and Blue Lines, the state has plans for additional rail systems, including the 68km Green Line (Lekki Free Trade Zone to Marina), the 85.7km Purple Line (Redemption Camp to Ojo), the 48km Orange Line (Ikeja CBD to Agbowa), and the Yellow Line, all aimed at enhancing the state’s transportation network.

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BIG STORY

Lagos Commissioner Tokunbo Wahab Condoles With Families Of Epe Accident Victims

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Condolence Message from the Honourable Commissioner for Environment and Water Resources, Lagos State, Mr. Tokunbo Wahab.

I am deeply saddened by the tragic incident that occurred in our community, Epe, claiming the lives of two promising young adults, a dedicated tricycle driver, and leaving several other people injured. This heartbreaking accident has left our hearts heavy, as we mourn the loss of these young souls who were full of hope and dreams, and an industrious individual who worked tirelessly for his livelihood.

As a member of this community, I extend my heartfelt condolences to the families and friends affected by this terrible loss. I can only imagine the pain you must feel, and I want you to know that you are not alone in this moment of grief.

Let us honor the memories of these individuals by advocating for safety and awareness on our roads. As we move forward, may we find comfort in community and strength in one another. May their souls rest in peace, and may their families find solace and healing in the days to come.

Our thoughts and prayers are with you all.

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BIG STORY

JUST IN: Monday Okpebholo Sworn In As Edo State Governor

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Monday Okpebholo, a serving senator, has been sworn in as the governor of Edo State.

Okpebholo took his oath of office at about 1pm on Tuesday during the inauguration ceremony in Benin, the state capital.

As the candidate of the All Progressives Congress (APC), Okpebholo won the September 21 off-cycle governorship election in the state.

He polled 291,667 votes to defeat Asue Ighodalo of the Peoples Democratic Party (PDP), who came second with 247,274 votes.

Olumide Akpata, the candidate of the Labour Party (LP), came third with 22,763 votes.

Dennis Idahosa was also sworn in as the deputy governor of Edo.

Dignitaries, including Vice-President Kashim Shettima, Abdulrahman Abdulrazaq, chair of the governors’ forum; Philip Shaibu, reinstated deputy governor of Edo; and other governors from the party, were present as Okpebholo took the oath of office.

The new governor later rode in an open-top van around the stadium, acknowledging cheers from supporters.

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