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“Terrorism, Public Fund Diversion”: Details Of Allegations Levelled By SSS Against Emefiele

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The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been funding “unknown gunmen” and members of the outlawed Indigenous People of Biafra (IPOB), the State Security Service (SSS) has alleged in court documents newly obtained by Premium Times.

The documents provide, for the first time, the missing details of the terrorism financing allegation which the SSS levelled against Mr Emefiele last December.

IPOB is a separatist organisation that calls for the secession of the five Igbo-dominated states in South-east Nigeria and parts of neighbouring states as an independent Biafra nation.

The group blamed for violent acts in the South-east region in recent years has been declared a terrorist organiation and proscribed by a court as far back as September 2017.

The Nigerian media, including PREMUM TIMES, reported in December SSS’ futile bid to obtain an order of the Federal High Court in Abuja for the arrest of Mr Emefiele over wide-ranging allegations, including financing of terrorism.

The Chief Judge of the Federal High Court, John Tsoho, after listening to SSS’ legal team, refused to grant the application for an order against Mr Emefile.

The judge rejected the application in a ruling delivered on 9 December, citing an irregularity in the procedure adopted by the SSS in its application.

The Nigerian media only became aware of the ruling 11 days after it was delivered by the court.

But the reports did not provide details about the agency’s weighty allegations against Mr Emefiele.

Eight weeks after the court gave the decision, Premium Times has now obtained the SSS’ court filings providing astonishing dimensions of the agency’s allegations against the CBN governor.

In a slew of weighty allegations, the SSS accused him of sabotaging the President Muhammadu Buhari administration, financing terrorism, aiding and abetting terrorism, and committing other economic crimes with effect of undermining Nigeria’s national security.

More specifically, the agency also accused Mr Emefiele of mismanaging the CBN subsidiary, NISRAL, and the central bank’s Anchor Borrowers Programme.

Call for detention

Ateam of four lawyers from the SSS’ legal department filed its case against Mr Emefiele on 7 December.

But contrary to earlier reports suggesting that the application was for an order for the arrest of Mr Emefiele, it actually sought permission to detain Mr Emefile for 60 days to conclude an ongoing investigation of his alleged atrocities.

The application was filed as an ex parte motion, meaning it was not served on Mr Emefile.

It was supported by an affidavit deposed to by an SSS official, Umar Salihu, who summarised the details of the investigations into the weighty crimes Mr Emefiele allegedly committed.

The deponent said “there is reasonable suspicion that the respondent (Mr Emefiele) was involved in terrorism financing, aiding and abetting acts of terrorism, economic crimes of national security dimension and for undermining the security of the Federal Republic of Nigeria.”

He said the agency needed to apply to the court “for an order enabling the applicant to detain the respondent for sixty days, pending the conclusion of ongoing investigation …”

On the need for the court to issue the order, he said Mr Emefiele “is a man of means and can easily evade arrest and interfere with ongoing investigation if he is released on bail.”

Citing “credible intelligence”, the deponent mentioned some specific allegations over which the agency was investigating Mr Emefiele.

The allegations enumerated in the application lack specifics or any hint at what the CBN governor’s motivation to sponsor IPOB and other terrorists’ activities could be.

IPOB, terrorism funding

In about the most horrific of the allegations, the SSS accused Mr Emefiele of funding terrorism, unknown gunmen terrorising the South-east region, the IPOB and its armed wing, the Eastern Security Network (ESN).

The SSS alleged that Mr Emefiele funded them with both the resources he raised for his failed presidential bid last year and funds diverted from government coffers.

Mr Emefiele, as sitting CBN governor, controversially bidded for the presidential ticket of the All Progressives Congress (APC) last year. Images of his branded vehicles and other campaign materials surfaced online in the lead-up to the party’s primary election.

He also approached the Federal High Court in Abuja to obtain an order affirming his right to jostle for the APC’s ticket. But the court on 9 May refused to grant Mr Emefiele’s prayer.

The Nigeria’s spy agency said in its filing in December that Mr Emefiele “procures a number of vehicles and disbursed funds for his botched presidential ambition.”

It added that “the said funds and vehicles are being channelled into funding of Unknown Gunmen, Eastern Security Network (ESN) and elements of IPOB, a proscribed organisation.”

In addition, the agency said Mr Emefiele, “on several occasions in actions prejudicial to the security of the Nigerian state,” engaged in “criminal conspiracy to divert government resources into suspicious acts of terrorism financing”.

It said the actions of the CBN governor were “meant to subvert and sabotage” the President Muhammadu Buhari administration.

But as weighty as the allegations, coming from the government’s flagship intelligence agency are, Mr Buhari has continued to hold one-on-one meetings with Mr Emefiele since December. This raises questions about whether the president has any regard for the “credible intelligence” the SSS claimed it gathered about the nation’s top banker.

The SSS, which is at the forefront of government’s efforts to quell separatist activities around the country, was holding the leader of IPOB, Nnamdi Kanu, in custody when it linked Mr Emefiele to the funding of the proscribed group in December.

Neither the Presidency, the SSS nor Mr Emefiele has commented on the allegations.

Money laundering, fraud, mismanagement of interventionist funds

The SSS also accused Mr Emefiele of “fraud, money laundering, round tripping and conferment of financial benefit to self and others.”

Mr Emefiele is also involved in mismanaging of various interventionist funds of the government under his control, according to the SSS.

Funds belonging to the Social Investment Programme (NISRAL) and the Anchor Borrowers Scheme were among those the SSS accused Mr Emefiele of mismanaging. The two agencies are interventionist schemes to boost food production and encourage farmers.

The SSS also accused Mr Emefiele of mismanaging “other key economic sectors of the economy”.

‘Emefiele’s syndicate’

In another breathtaking allegation, the SSS claimed it was on the trail of members of a criminal syndicate of which Mr Emefiele is allegedly a part.

It said “investigation is still ongoing on a wider scale as other members of the syndicate chain need to be identified and arrested to enable successful prosecution.”

The agency accused Mr Emefiele of aiding and abetting terrorism, and alleged further that he used proxies from his alleged syndicate “to carry out his illegal economic crimes of national security dimension with potent threat to the country’s security.”

Why court rejected SSS’ application

In rejecting SSS’ application on 9 December 2022, however, the judge, Mr Tsoho, pointed out a flaw in the procedure adopted by the agency to ask for an order for Mr Emefiele’s detention for 60 days.

He said the request by the secret police ought to have been preceded by the arrest of the suspect which did not require a court order.

“This is not the situation here, as Godwin Emefiele, the CBN governor was shown on television, even last night, having an audience with the President of Nigeria,” the judge said. “It therefore seems that the applicant intends to use the court as a cover for an irregular procedure which is unacceptable.”

The judge said “an application of this kind (by the SSS) should have evidence of the approval of the respondent (Emefiele’s) boss (President Buhari), that such measures are authorised to be taken,” owing to the “sensitive position” he “occupies…as one of the key drivers of the nation’s economy.”

“I decline to grant this application ex parte,” the judge declared.

Femi Falana, a Senior Advocate of Nigeria, said the SSS’ allegations against Mr Emefiele robs Nigeria of investors’ confidence in the economy.

“Nobody will want to do business with your country when the head of the Central Bank is a terrorism suspect,” the senior lawyer said in a telephone interview with Premium Times.

Similarly, Mr Emefiele’s predecessor, Lamido Sanusi, a former Emir of Kano, was accused of terrorism financing by the Goodluck Jonathan-led regime in 2014, and was removed from office, Mr Falana recalled.

Also commending the judge for dismissing what he termed, “the unworthy application by the SSS to arrest the CBN governor,” Olisa Agbakoba, a former President of the Nigerian Bar Association (NBA), challenged the secret police to sue Mr Emefiele if “there is evidence.”

CBN governor and his troubles

Mr Emefiele’s foray into politics last year, bidding for the APC’s presidential ticket while still in office as the CBN governor, drew wide condemnation among Nigerians.

A Premium Times editorial, one of the credible forces that first exposed Mr Emefiele’s covert presidential bid, called on him to either publicly deny it or resign immediately from office to pursue his political dream.

The CBN still faces criticisms for plunging Nigerians into hardships associated with scarcity of the newly introduced naira notes. Nigerians, groaning over the scarcity of new naira notes, urged the CBN governor to rescind the policy.

The redesigned 200, 500 and 1000 notes are hard to come by at Automated Teller Machines – the only place where money can be withdrawn.

But Mr Emefiele only extended the deadline by 10 days from 31 January to 10 February, which many have said is insufficient to address the acute shortage of the new notes.

The presidential candidate of the APC, Bola Tinubu, in a veiled reference to the monetary policy, condemned the scarcity of the new bank notes, adding that it was a ploy to scuttle his chances of winning the election.

Appearing before the House of Representatives, Mr Emefiele explained that old naira notes would be accepted by banks even after the 10 February deadline.

A law professor, Joshua Alobo, had sued the CBN seeking an extension of the deadline.

The apex bank had on 26 October, 2022, announced the introduction of redesigned 200, 500 and 1,000 naira notes into the financial system.

But access to the new notes remains a herculean task as people throng ATMs in a bid to withdraw money.

 

Credit: Premium Times

BIG STORY

Debt Servicing, Salaries Gulp N24.8tn In 2025 Budget

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The Federal Government plans to spend N8.52tn (inclusive of government enterprises) on personnel and pension costs for federal workers next year, according to an analysis of the 2025 Appropriation Bill.

This amount represents an increase of N3.17tn or 59.16 percent from the 2024 provision of N5.35tn.

The document also revealed that government expenses on salary payments alone will reach N7.54tn, reflecting an increase of N2.75tn from the N4.79tn paid to federal workers in 2024.

The personnel and pension costs of N8.52tn, along with the debt service cost of N16.33tn, combine to a total of N24.85tn, which accounts for 53.98 percent of the total N46.02tn 2025 budget.

It was also noted that the government will spend more on debt servicing than on paying the salaries and pensions of its workers.

Recall that President Bola Tinubu presented the budget titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity” to a joint session of the National Assembly on Wednesday, outlining an ambitious N49.70tn spending plan.

The budget prioritizes defence, infrastructure, and human capital development, with a projected deficit of N13.39tn to be financed through borrowing.

Speaking at the National Assembly, Tinubu stressed his administration’s commitment to strengthening security and revamping the nation’s infrastructure.

In the appropriation bill document obtained by our correspondent, the government earmarked a total sum of N7.54tn for salaries, N984.91bn for pension and gratuities and N16.33tn for debt servicing.

It also proposed spending of N2.58tn on the service-wide votes, N3.18tn on capital supplementation and N4.44 for statutory transfers.

Further checks showed that the State House earmarked N15.09bn for the purchase of tyres for bulletproof vehicles, Sport Utility Vehicles, operational vehicles, plain cars and the construction of an office complex for Special Advisers and Senior Special Assistants.

It also proposed a total sum of N5.49bn as a provision for the annual maintenance of the Presidential Villa.

N164m will be spent on the purchase of tyres for bulletproof vehicles, plain cars, jeeps, platform trucks and other utility and operational vehicles.

Out of the sum, N1.1bn was earmarked for the replacement of SUV vehicles, and N3.66bn for the purchase of State House operational vehicles.

It stated that N127.86m will be spent on the procurement of SUVs for Mr President and the Vice President. This cost will be covered by the office of the president.

Similarly, N285m will be spent for the purchase of motor vehicles under the office of the Chief of staff to the president, while the Chief security officer to the President got an allocation of N179.63m for the purchase of security and operational vehicles.

Further checks showed that N2.12bn was allocated for honorarium and sitting allowances and proposed spending of N1.83bn for the construction of an office complex for Special Advisers and Senior Special advisers.

Observation also showed that the Federal Government earmarked N21.04bn for the Medical and Dental Council of Nigeria, the Nursing and Midwifery Council of Nigeria, and the Pharmacy Council of Nigeria in the 2025 appropriation bill.

This was according to allocations under the Federal Ministry of Health and Social Welfare for next year.

The MDCN regulates the practice of Medicine, Dentistry, and Alternative Medicine in the country.

The NMCN is the sole governing body that regulates all cadres of nurses and midwives in Nigeria.

The PCN regulates all aspects of pharmacy education, training, and practice, including Pharmacy Technicians and Patent and Proprietary Medicine Vendors.

A breakdown of the details showed that the MDCN got the largest share of the allocations among the councils. It got N18.11bn.

A total of N1.92bn was allocated to the PCN, and a total of N1.01bn was allocated to the NMCN.

Meanwhile, the government had said in 2023 that it would discontinue budgetary allocations to professional bodies and councils.

In a memo to one of the affected councils, which was signed by the signed by the former Director-General of the Budget Office of the Federation, Ben Akabueze, and dated June 26, 2023, the Budget Office of the Federation said the move was in line with the decision of the Presidential Committee on Salaries.

The memo stated that funding would be stopped for at least 30 of the professional bodies, and councils by December 2024 whilst budgetary allocations would be stopped for other bodies by December 2026.

The memo sent to one of the professional bodies read, “I wish to inform you that, the Presidential Committee on Salaries, at its 13th meeting, approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective December 31, 2026.

“The purpose of this letter, therefore, is to inform you that, in compliance with PCS’s directive, this Office will no longer make: budgetary provisions to your Institution with effect from the above-stated date, and you will be regarded as a self-funded organisation.

“For the avoidance of doubt, you will be required, effective December 31, 2026, to be fully responsible for your personnel, overhead, and capital expenditures.”

Findings revealed that several professional bodies within the Ministry of Health and Social Welfare are scheduled not to receive budgetary allocations for 2024.

These include the NMCN, PCN, MDCN, Medical Laboratory Science Council of Nigeria, Community Health Practitioners Registration Board, Medical Rehabilitation Therapy Board, Dental Technologists Registration Board, and Environmental Health Registration Council of Nigeria, among others.

Further checks showed that the Federal Ministry of Agriculture and Food Security has proposed spending N54.38bn from its N636bn allocation in the 2025 proposed budget on Federal Universities of Agriculture.

The proposed expenditure on the universities represents 8.4 per cent of the ministry’s total allocation.

Allocations to the universities include N13.77bn for the Federal University of Agriculture, Abeokuta, Ogun State; N14.17bn for the Federal University of Agriculture, Makurdi, Benue State; N3.98bn for the Federal University of Agriculture, Zuru, Kebbi State; N2.96bn for the Federal University of Agriculture, Bassam-Biri, Bayelsa State; and N3.58bn for the Federal University of Agriculture, Mubi, Adamawa State.

While the ministry’s budget prioritizes education and research, the overall federal budget emphasises infrastructure and human capital development.

However, the budget also includes a projected deficit of N13.39tn, to be financed through borrowing.

A lecturer at the Joseph Sarwuan Tarka University, Makurdi (formerly University of Agriculture, Makurdi),

Dr Moses Ogah described the N54bn allocation as a positive development but emphasized the need for strategic implementation to ensure meaningful outcomes.

“Yes, it is a step in the right direction. We cannot say it is enough, but I think it has never been like this before. So, if someone is coming out with a proposal like that, it’s good,” he said.

Ogah highlighted the potential of these universities to address food security challenges, reduce food costs, and contribute to national development.

He noted, “The essence of establishing the University of Agriculture is to engage in food production so that food can be sold to the populace at subsidized rates. Unfortunately, we are not living up to the expectations and mission of these institutions. Food remains very expensive.”

He also stressed the importance of utilizing the universities’ vast resources.

“They have vast land. If the government implements this allocation effectively, it will be beneficial,” he said.

Linking the funding to the country’s food inflation challenges, which stood at 37.7 per cent as of November according to the National Bureau of Statistics, Ogah urged the government to support critical infrastructure like processing industries, bakeries, and livestock facilities.

“The whole of Benue State doesn’t even have a hatchery. Livestock comes from Plateau or Ibadan under stressful conditions and some die before arrival. If a university like ours can have such facilities, it would be a relief,” he explained.

Despite past challenges, Ogah expressed optimism, citing the availability of skilled manpower in these institutions.

“We have specialists in different areas. If these universities focus on food production, it will significantly benefit the country,” he added.

Reflecting on the original purpose of these institutions, he recalled their establishment during the Babangida administration, inspired by the Indian model.

However, he lamented that some of the core mandates, such as the development of grasslands and animal husbandry, remain unmet.

Speaking at the National Assembly, President Tinubu reiterated his administration’s commitment to strengthening security and revamping infrastructure.

The budget is based on key economic assumptions, including a projected decline in inflation from 34.6 per cent to 15 per cent and an improvement in the naira exchange rate from N1,700 per dollar to N1,500 per dollar.

With the proposed allocations and strategic focus, stakeholders believe the initiative could be a significant step toward achieving food security and economic development in Nigeria.

 

Credit: The Punch

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BIG STORY

UPDATE: EFCC Invites Suspended Edo LG Chairpersons Over ‘Misappropriation Of Funds’

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The Economic and Financial Crimes Commission (EFCC) has summoned all the suspended chairpersons of the 18 LGAs in Edo state, TheCable can report.

According to The Cable, a source within EFCC said that Monday Okpebholo, the governor of Edo, submitted a petition to the commission, accusing the 18 LGA chairpersons of failing to pay workers’ salaries for two months.

The insider mentioned that the petition also alleged that the chairpersons misappropriated the funds intended for workers’ salaries for October and November for unspecified purposes.

The source stated that the LG chairs were invited for questioning based on the governor’s petition, adding that nine out of the 18 appeared at the Benin zonal office of the EFCC on Thursday for questioning.

The source also said the remaining nine suspended LG chairpersons are scheduled to appear at the EFCC office on Friday.

“The new governor wrote a petition to us, alleging that all 18 local government chairmen failed to pay their workers’ salaries for October and November, and that the funds meant for these payments were allegedly diverted,” the source said.

“On the basis of that, we invited the 18 local government chairmen to our office. Nine of them came forward today to speak.

“As we are talking, they are still being quizzed by our investigator. The last nine will come tomorrow. We need to remind them that they need to do a thorough job.

“We have opened up an investigation into the allegations. You know, as with every investigation, we have just started work. We cannot say this or that.

“But it’s alright to say that we have started work and are making progress.”

When contacted for comments, Dele Oyewale, the EFCC spokesperson, confirmed to TheCable that the LGA chairmen have been invited by the commission but declined to provide further details.

On Tuesday, the Edo house assembly suspended the chairpersons and their deputies for two months over alleged gross misconduct.

Blessing Agbebaku, the speaker of the house, stated that the governor had submitted a petition to the assembly regarding the chairpersons’ failure to submit the financial records of their councils to the state government.

Agbebaku further explained that the governor described the actions of the chairmen as an act of insubordination and gross misconduct, and requested that the house of assembly investigate the matter.

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BIG STORY

UPDATE: Uncover Negligence, Deliberate Actions Behind Ibadan Stampede — Tinubu To Security Agencies

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President Bola Ahmed Tinubu has ordered an investigation into the incident at the children’s funfair in Ibadan, which resulted in the death of 35 persons.

In a statement issued on Thursday by Bayo Onanuga, his special adviser on information and strategy, the president called for a “thorough” inquiry to determine whether negligence or deliberate actions contributed to the stampede.

“In this moment of mourning, President Tinubu stands in solidarity with the affected families and offers prayers that the Almighty God will grant peace to the souls of those who have departed in this unfortunate event,” the statement reads.

“President Tinubu has urgently directed the relevant authorities to investigate the circumstances of this tragedy thoroughly. He emphasises that it is imperative to determine whether negligence or deliberate actions contributed to this painful incident, ensuring a transparent and accountable process.”

“The President urges the Oyo State Government to take every necessary measure to prevent such a tragedy from reoccurring.

“Among the essential actions are a comprehensive review of all public events’ safety measures, strict enforcement of safety regulations, and regular safety audits of event venues.”

The president also called on event organisers to prioritise the safety of all attendees, especially children.

He noted the importance of integrating professional security, protocol, and logistics at events to ensure the safety of all participants.

“Our children’s safety and well-being remain paramount. No event should ever compromise their safety or take precedence over their lives,” he added.

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