News
EFCC Detains Ekweremadu Over Fraud Charges …Targets Ortom Over Alleged N20bn Laundering
The Deputy Senate President, Dr Ike Ekweremadu who allegedly came to the office ofthe Economic and Financial Crimes Commission, (EFCC), yesterday morning by 10am, is currently answering questions on corruption and abuse of office.
Our correspondent had confirmed through various sources the authenticity of the lawmaker’s appearance at EFCC’s office and had confirmed the hours spent by the lawmaker.
Ekweremadu, yesterday said that he depends on God who has always been with him and will continue to be there for him inspite of any ordeal he may be going through in the hands of the government of the All Progressives Congress, APC. Ekweremadu has however assured his supporters that his current travails in the hands of the federal government would end in praise. According to the deputy Senate President, he has absolute faith in God as he had done nothing wrong to warrant the continued harassment by the security agencies and the Economic and Financial Crimes Commission, EFCC.
Ekweremadu spoke yesterday when the Archbishop of Enugu Province, Anglican Communion, Most Rev. Emmanuel Chukwuma, led a delegation of clergies of Enugu Diocese of the Church on a solidarity visit to his Enugu residence Sunday evening.
In a statement by his Special Adviser, Media, Uche Anichukwu, Ekweremadu said: “When people say they are not sure there is God, I say, ‘Come, let me tell you my story; when I finish my story, you will know whether there is God or not’. My story is one of those that establish actually that there is God.
So, what you are seeing now will also pass because there is no battle that God cannot fight for me.
“There have been several attempts to remove me as the Deputy President of the Senate, but, I am not worried because it is God that gives power and it is only Him that can take it.
Ekweremadu who recalled that he had never been in a position to manage public finances or award contracts all through his political career, said, “I have been a town union president, Chairman of a local government, Chief of Staff and Secretary to the State Government, Senator since 2003, Vice Chairmen and Chairman of several committees, Deputy President of the Senate since 2007, and I have been Deputy Speaker of the ECOWAS Parliament before I became the Speaker. Today, I am a Member of the Global Parliament for Tolerance and Peace. In all of these, I have never managed government resources or finances or being in a position to give contracts or receive contracts.
“When I was local government chairman, I allowed the Secretary of the Council to run the affairs when it comes to giving contracts. When I was Secretary to the Enugu State Government, I refused to be part of the tenders board because of things like these.
“When I became the Deputy President of the Senate in 2007, there was something they used to call the Body of Principal Officers that awarded contracts. I told the President of the Senate that we had to stop it and let the National Assembly Management deal with contracts, and that if it was to continue, I was not going to part of it.
He saw my point and agreed with me. “All the oil and election probes they have done in Nigeria, nobody can mention my name.
The money they pay me for my services has always been enough for me. If you have any proof that I stole government money, I challenge you to come out and say it. I have never ever even been in a position to do that. “So, when Justice Innocent Umezulike and his cohorts wrote a petition to the EFCC that I was given money to go and develop the South East zone and I used it to buy 32 properties, I laughed at them because nobody gives you money to go and develop your house let alone developing a zone. Nobody has ever given me money to do any contract.
Ekweremadu who noted that he had no personal quarrel with anyone, wondering why the desperation to annihilate him politically, said, “In all my statements, my position on things that have happened in Nigeria, I have always meant the best for Nigeria. I have never for once, personally attacked anybody, including the President.
“I have been worried about the security situation and the injustice that is accompanying the programmes of the government. Those are the issues I have always addressed and I have tried to be as objective as possible. “So, why the government or its agencies or the party that is in power feels that I am a threat is what I don’t understand. For as long as you are in government, you are supposed to be democratic.
“I don’t have one personal problem with anybody, but because of my position on some of these things, people have tried to kill me. About 2015, there was an assassination attempt on my life and up till now, nobody has investigated that matter.”
Meanwhile, the Economic and Financial Crimes Commission (EFCC) yesterday said over N20bn Benue State funds have been laundered under the watch of Governor Samuel Ortom.
Top EFCC investigators who spoke to The Tide source said the discoveries were made following intelligence reports about the suspicious transactions.
Investigators said they discovered about N20bn were withdrawn from four bank accounts operated by the Benue State government from June 2015 to March 2018.
The EFCC said the funds were laundered through several N10m withdrawals within two days after the accounts received money from the Federation Accounts Allocation Committee (FAAC).
Investigators said two of the bank accounts being investigated were opened as ‘Benue State Government House Account’ respectively.
The accounts were said to have received over N1.9bn between June 2015 and March 2018. The EFCC said records show that three Benue State government officials – Emmanuel Aorga, Patrick Abah and Ochaja Peter – made several withdrawals depleting the bank accounts.
It was said Aorga made a total withdrawal of N369, 728,950; Abah N130, 199,386 and Peter, N704, 041,000.
Two accounts opened as ‘Bureau for Internal Affairs and Special Services Accounts’ between 2015 and 2018 received N19, 468,951,590.00 from FAAC.
The EFCC said all the money was withdrawn in cash of N10m cheques by one Oliver Mtom, a Benue State government official.
They said sometimes several withdrawals were made in one day to the tune of N500m, N300m and N200m.
It noted that the withdrawals were done monthly immediately after the accounts were credited by the FAAC.
EFCC said cashiers and accountants invited and interrogated disclosed that the monies were taken to their respective permanent secretaries. It noted that two permanent secretaries were questioned over the funds.
Permanent Secretary Gabriel Iangba was questioned over the two bank accounts under the name ‘Benue State Government House Account.’ Iangba was said to have told EFCC operatives that the funds were spent on the governor’s security, government house expenses, governors travels, landscaping and kitchen.
It added that Permanent Secretary Boniface Nyaakor was interrogated over the operation of the two accounts opened as ‘Bureau for Internal Affairs and Special Services Accounts.’
The EFCC said Nyaakor stated that the funds were disbursed to six Federal Government security agencies in Benue State.
He said the monies were randomly distributed to the security agencies with the largest amount disbursed at any given time not exceeding N10m.
The EFCC said Nyaakor would raise a blank memo on the distribution of the funds to the security agencies.
The EFCC noted that after the distribution, the governor would then destroy the memo, leaving no records of how the monies have been disbursed, which is against transparency.
The EFCC said it is also investigating the diversion of about N275m meant for purchase of 30 Prado Jeeps as official vehicles for members of the Benue State House of Assembly. It said the cars were supposed to have been purchased and distributed to the members at N12.9m each.
The EFCC said it was discovered that only eight vehicles were supplied by the contractor while N275m was diverted and laundered through the House of Assembly.
The EFCC said N244m was recovered from several members of the House of Assembly in a case that is still being investigated by the Commission.
It said four members have refused to pay back the money in an investigation that has spanned over two years.
Investigators said the members have been reporting at the EFCC head office since 2006.
The EFCC said the lawmakers and the contractor have a case to answer.
Ortom attacked for quitting APC – Aide
When contacted, Ortom’s media aide Terver Akase dismissed as false the allegations that monies have been diverted in the state.
He said the Benue State government does not have such funds to divert while struggling to pay salaries and contractors.
He said the books are open at any time, noting that anti-graft agencies should be fair and treat everybody with equity.
He said Governor Ortom’s hands are clean, and the EFCC is free to investigate all allegations.
Akase added that the governor is being attacked just because he defected from the All Progressives Congress (APC), adding that a lot of allegations are cropping up to make him look bad before the world.
He said the fact that someone is accused, or being investigated, does not mean the person is guilty. Daily Trust reports that the EFCC had in the past probed sitting governors which culminated in their controversial impeachments.
Based on investigations by the EFCC, Joshua Dariye was removed as governor of Plateau State in November 2006.
His impeachment was later nullified by the Appeal Court in March 2007.
Also, a former Governor of Bayelsa State Diepreye Alamieyeseigha was impeached in December 2005 after allegations of corruption and an investigation by the EFCC. Alamieyeseigha, like Dariye, was also then at loggerheads with the then President, Olusegun Obasanjo.
Ekiti State Governor Ayo Fayose was also probed by the EFCC and impeached in October 2006.
President Bola Tinubu has ordered a security outreach to the hotbeds of recent killings in Plateau, Benue and Borno States, to restore peace to areas wracked by mass killings and bomb attacks.
National Security Adviser, Nuhu Ribadu, disclosed this to State House correspondents after a four-hour security briefing with the President at the Aso Rock Villa, Abuja on Wednesday.
“We listened and we took instructions from him. We got new directives…to go meet with the political authorities there,” Ribadu told reporters, adding that Tinubu directed them to engage state-level authorities in the worst-hit regions.
Director-General, National Intelligence Agency, Mohammed Mohammed; Chief Defence Intelligence of the Nigerian Army, Gen. Emmanuel Undianeye; Director-General, Department of State Services, Oluwatosin Ajayi and Chief of Staff to the President, Femi Gbajabiamila, appeared for the briefing.
The Tide’s source reports that in Plateau State, inter-communal violence between predominantly Christian farmers and nomadic herders spiralled into gory slaughter when gunmen stormed Zikke village in Bassa Local Government early on April 14, killing at least 51 people and razing homes in a single night.
In Benue, at least 56 people were killed in Logo and Gbagir after twin assaults blamed on armed herders.
Meanwhile, in Borno State, eight passengers perished and scores were injured when an improvised explosive device ripped through a bus on the Damboa–Maiduguri highway on April 12.
Ribadu explained that after an extensive briefing, intelligence chiefs received fresh instructions to restore peace, security and stability across Nigeria.
“In particular, Tinubu had ordered immediate outreach to the political authorities in Plateau, Benue and Borno States, and the defence team had gone round those States to carry out his directives and report back.
“We gave him an update on what has been the case and what is going on, and even when he was out there, before coming back, he was constantly in touch. He was giving directives. He was following developments, and we, in charge of the security, got the opportunity today to come and brief him properly for hours. And it was exhaustive.
“We listened and we took instructions from him. We got new directives. The fact is, Mr. President is insisting and working so hard to ensure that we have peace, security and stability in our country. We gave him an update on what is going on, and we also assured him that work is ongoing and continues.
“We also carried out his instructions. We went round, the chiefs were all out where we had these incidents of insecurity in Plateau State, Benue State, even Borno, these particular three states, and we gave him feedback, because he directed us to go meet with the political authorities there,” the NSA explained.
Ribadu described Tinubu as “worried and concerned,” and said he directed that all security arms be deployed around the clock.
The government, he added, believes these steps have already produced measurable improvements, even if the situation is not yet 100 per cent safe and secure.
“He’s so worried and concerned, he insisted that enough is enough, and we are working and to ensure that we restore peace and security and all of us are there. The armed forces are there, the Civil Police, intelligence communities, they are there.
“They are working there 24 hours, and we feel that we have done enough to believe that we are on the right course, and we’ll be able to be on top of things,” Ribadu stated.
The NSA emphasised that combating insecurity was not solely a Federal Government responsibility.
He stated, “The issue of insecurity often is not just for the government. It involves the subunits. They are the ones who are directly with the people, especially if some of the challenges are more or less bordering on community problems.
“Not entirely everything is that, but of course it also plays a significant role. You need to work with the communities, the local governments, and the governors, especially the governors.
“The President will continue to direct that. We should be doing that, and that’s what we are able to. We are very happy and very satisfied with the instructions and directives given by Mr. President this evening.”
In Borno State, the NSA noted that while violence had surged in recent months, the insurgents refused to accept defeat.
He warned that most recent casualties there resulted from improvised explosive devices—”cowardly” IED attacks targeting civilians—and from opportunistic raids that follow any lull in fighting.
“We are getting the cooperation of the leadership at the state level, and everybody. It’s not 100 per cent…but we are going there.
“When you are having peace and you are beginning to get used to it, if one bad incident happens, you forget the periods that you enjoyed peacefully,” he added.
He paid tribute to the “many who do not sleep, who walk throughout, who do not go for any break or holiday”—the soldiers, police and intelligence officers whose sacrifices have created the fragile calm Nigerians now experience.
“They will continue to be there,” he said, adding, “Things have changed in this country…we are on the right track and we will not relent. We will not sit down; we will not stop until we are able to achieve results.”
A Federal Government agency – the National Agency for Science and Engineering Infrastructure, has decried the low patronage of Nigerian-made products by Nigerians.
The agency identified some challenges leading to the low patronage of the local products as affordability and public perception, among others.
Speaking during a stakeholders meeting organised by the agency in Akure, Ondo State capital, yesterday, the Deputy Director of Engineering at NASENI, Mr Joseph Alasoluyi, said Nigerians preferred buying foreign goods compared to local goods.
Alasoluyi, however disclosed that the agency had trained over 50 participants in the production of hand-made products, in a bid to ensure Nigeria-made products are patronised.
He explained that NASENI was set up to promote science, technology, and engineering as a foundation for Nigeria’s development and currently operates 12 institutes nationwide to achieve its objectives.
According to him, the aim of President Bola Tinubu, who is also the overall chairman of NASENI, was to ensure high production and patronage of “our local products thereby creating employment opportunities for many.”
He said, “The idea of this programme is to interface to ensure we produce products using our indigenous technology. This is what NASENI is out for, to ensure that homegrown technologies are encouraged.
“We are out there to ensure we integrate efforts to ensure that local technology is used to develop products within the resources we have.
“ The NASENI’s ‘3 Cs’ – Creation, Collaboration, and Commercialisation – that define NASENI’s strategic mandate: Creating innovations through research, Collaborating with partners to develop and refine products, and Commercialising these solutions to benefit the economy.
“Our achievements include the development of solar irrigation systems, CNG conversion centres, building machines capable of producing up to 1,000 blocks per hour, 10-inch tablets, locally made laptops, and electric tricycles (Keke Napep) set for market launch.”
In his remarks, the Deputy Vice Chancellor of the Federal University of Technology, Akure, Prof. Samuel Oluyamo, blamed the Federal Government for not properly funding research in the varsities, also noting that many research outputs were left halfway due to lack of funding and weak linkages between research institutions and industry.
Oluyamo also queried the Federal Government’s commitment to funding research and development, saying many academic innovations remained on the shelve due to a lack of support for commercialisation and poor infrastructure.
“Until we upscale research into mass production, technological growth will remain elusive. The government is not funding research in the universities enough. Thank God for TETfund that is trying in this regime. The major interest in beefing up research in universities and research institutions is really not there,” he said.
The Director-General of the Debt Management Office, Patience Oniha, has said that Nigeria is in advanced discussions with JP Morgan to re-enter the Government Bond Index and renew investors’ confidence.
Oniha disclosed this on Wednesday at a Nigerian Investors’ Forum on the sidelines of the World Bank and International Monetary Fund Spring Meetings in Washington, D.C.
The DMO boss explained that Nigeria has enjoyed favourable credit assessment among rating agencies in recent times on the back of the sweeping reforms initiated by the Central Bank of Nigeria.
Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings of seven Nigerian banks and two bank holding companies to ‘B’ from ‘B-‘, noting that the outlooks are Stable.
The affected issuers are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Limited, Guaranty Trust Holding Company Plc, First HoldCo Plc, First Bank of Nigeria Ltd, Fidelity Bank Plc and Bank of Industry Limited.
The upgrades of the Long-Term IDRs of the banks followed the recent sovereign upgrade and reflect Fitch’s view that Nigeria’s sovereign credit profile has become less of a constraint on the issuers’ standalone creditworthiness, the rating agency said.
Fitch also upgraded Nigeria’s Long-Term IDRs to ‘B’ from ‘B-‘ on 11 April, a decision that reflected increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including exchange rate liberalisation, monetary policy tightening and steps to end deficit monetisation and remove fuel subsidies.
“These have improved policy coherence and credibility and reduced economic distortions and near-term risks to macroeconomic stability, enhancing resilience in the context of persistent domestic challenges and heightened external risks,” Fitch said.
Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its deviation from orthodox monetary policies and influence of capital control in its management of foreign exchange.
Principally due to reduction in oil revenues at the time, Nigeria introduced currency restrictions to defend the naira after it failed to halt a dangerous slide with burning of dollar reserves. The bank had earlier warned Nigeria to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles.
“Foreign investors who track the GBI-EM series continue to face challenges and uncertainty while transacting in the naira due to the lack of a fully functional two-way FX market and limited transparency,” the bank said in a 2015 note.
Nigeria was listed in JP Morgan’s emerging government bond index in October 2012, after the Central Bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting.
The JP Morgan Government Bond Index reflects investor confidence and opens doors to billions of investment flows, making Nigeria’s proposed re-entry a positive signal to the market and investors.
Oniha explained that talks with JP Morgan were ongoing and had gained momentum in recent times due to the stability created by the FX market reforms.
“With all the reforms that have taken place, particularly around FX, we have started engaging JP Morgan again to get back into the index. We think we are eligible now,” the DMO DG said.