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Probe: Nigeria’ll Break If NDDC Releases List Of Looters – IMC
The Interim Management Committee (IMC) of the Niger Delta Development Commission (NDDC) has said that if it releases the list of those involved in looting the commission, the country would break.
The IMC has also accused members of the National Assembly of plotting to stall the forensic audit ordered by President Muhammadu Buhari.
The Executive Director in charge of Projects at the NDDC, Dr. Cairo Ojougboh, who made the allegation while speaking to newsmen in Abuja, said that Nigerians would be shocked if the commission releases the names and calibre of persons involved in contract scam in 2017 and 2019, especially among members of the National Assembly.
It would be recalled that the Federal Executive Council (FEC), meeting presided over by President Muhammadu Buhari, last Wednesday, approved the forensic auditing of about 12,000 NDDC contracts.
But Ojougboh alleged that the recent pressure by the National Assembly to probe the activities of the IMC was instigated by the fear of the forensic audit.
He said that the mission of the IMC to the NDDC and the Niger Delta region was to ensure that every Naira that had been put into the region through the commission was accounted for, and vowed that the committee would dare every odd to ensure that the mission was accomplished, not minding whose ox was gored.
Ojougboh took a swipe at the National Assembly for condemning the N51million monthly imprest for the office of the Acting Managing Director of the commission, and the N18million imprest for his office, saying that such monies were not personal money but for the upkeep of the place, especially on security.
He alleged that a highly placed member of the National Assembly from the South-South, whom he accused of working against the IMC, has a cumulative imprest of about N100million monthly without the kind of security challenges the NDDC management faces on daily basis.
According to him, “My MD feeds 100 policemen every day, and in Port Harcourt as an executive of NDDC, you need security more than anything, till tomorrow, you know of it. When they are sending these policemen, the instruction is feed them, cater for them, that is what is in the letter the police hierarchy sent.
“So, people are talking about N51million of imprest for the MD, it is a security vote, it’s not for his personal pocket, the money does not go to the MD’s account. Myself, N18million, it does not go to my account, it goes for security and other expenses, and it is retired, there is no fraud in it.”
He said when President Buhari nominated them, and they arrived at NDDC office Port Harcourt, Rivers State capital, the first thing they noticed was that the two chairmen (NDDC Committee) in the National Assembly, were the “De facto management, managers and the executive of NDDC.”
He said as a former member of the National Assembly and a former liaison officer to the President, he has been in the Chambers, and he has been in government since 1999 till date.
“So, I know what time of the day it is in politics and in governance. So, we told them it cannot be business as usual, then, they said we must leave.”
Asked what was responsible for the sudden interest of the National Assembly in the activities of the IMC, he said, “God bless you. It’s the forensic audit that the President has instituted because the National Assembly is culpable. At the end of the forensic audit, you will see members of the National Assembly.
“A senator came and said that in the list of 2016 they brought, that he had only six contracts, I said no, that he had more. What he didn’t know is that we did not release the list for 2017 and the one for 2019. If we release it, this country will break.”
Also asked why the country should break, he said, “Oh, because of the people looting, the calibre, the names and people looting the NDDC. And who engineers it? The chairmen of the NDDC in the Senate and House of Representatives in the National Assembly.
“So, when I explained, I told Mr. President to look, my job here is very simple. Mr. President looks, even if it is the only thing I achieve in my life to make sure that things are put right for the people of the Niger Delta to have the benefit of the NDDC. You can call me any name, you can do anything, you can say anything, I don’t care but I must do the right thing and the right thing is that no one penny will be missing.”
He further alleged that the National Assembly had planned to truncate the progress of the forensic audit through various means; first by using the probes by the committees and later by refusing to sign the budget, saying the refusal to sign the budget is an instrument of blackmail against the IMC.
He said, “Mark you, the National Assembly sabotaged, through the instrumentality of the chairmen of the House and Senate, they sabotaged … if you give them to report, they will say you did not bring performance report. We brought everything that they’ve asked us to bring, but they used the budget as the instrument of blackmail.
“So, they have blackmailed the nation and the Niger Delta in the last 20 years, that is why you see that you cannot go to the Niger Delta today and see ten kilometres of dualised roads done by the NDDC, no. What do you see, 500 meters here, 200 meters there and all of them one billion each”, he said.
He, however, said despite efforts of the National Assembly to muzzle the IMC and frustrate the forensic audit, the audit process had progressed as the first leg of the job had already been concluded and the second and final leg would soon kick-off.
He said, “It has started. Why are we here if it has not? The National Assembly wanted to truncate it, they said they will not pass our budget. You know the forensic audit is in two stages; we have procured the lead auditors and they are at work, they have all the files of all the contracts at the NDDC from inception till date.
“The second stage is to send the various auditors to each of the states, the National Assembly people know that’s where they are culpable so they stopped our budget, but the President said the forensic audit must continue that he will fund it.
“The lead auditors have finished their initial job, they have written their report, now each of the states will have one auditor looking at all the contracts and projects in it. That’s what we came here for today. These auditors will now go back to the states tomorrow, once we finish here today and the council approves it.”
On the allegations of misappropriation against the IMC by the National Assembly committees, Ojougboh said the allegations were just another attempt at blackmail, explaining that the IMC had not awarded a single contract, but had been sorting out what he described as obligatory debts of the NDDC to its contractors.
“That’s the problem. The reason they are touting those multiple billions is just to give us a bad name, the multiple billions that are payments for obligatory debts. The payment is not for me, every year the NDDC spends as much as four to five hundred billion, it is the debt we met on ground.
“People have done their jobs, are we going to say they should not be paid? We have not awarded one contract; people are taking us to court every day. So, we look at the projects, we clear them and we pay. They said we spent, but we didn’t spend, rather we paid historic debts”, he explained.
He further said, “They are talking about Covid-19 payment, the Federal Government is given every citizen N30,000 each, do you know how much Federal Government has spent? The CBN and many other corporations have been giving Covid-19 allowances, which are within their purview, just like NDDC did.
“In the National Assembly, each of the senators got N20million, while the House of Representatives members got N15million for Covid-19 from the National Assembly. They all received Covid-19 allowances.”
Asked if the money spent by the commission on Covid-19 palliatives was budgeted for, he said, the money was spent under emergency.
He said, “It was not budgeted for because it was an emergency, it’s allowed. It comes under emergency. The N30,000 per person that the Federal Government is giving to the citizens, was it budgeted for? Did anybody budget for Covid-19? Nobody budgeted for Covid-19. The SGF is the chairman of the Covid-19 Task Force in Nigeria, was that task force budgeted for? It’s an emergency, and it’s allowed.
“What we are saying is that Nigerians must appreciate Mr. President. Like when we got to the headquarter building, no one thought that building could be completed. Today, we have completed it, we are inside it, but they will come to tell you that we are inside an uncompleted building, which is a very huge lie.
“We are inside the building that is where I go to work every day. It’s all propaganda by the Deputy Senate President, Ovie Omo-Agege, and his cohorts just because they want to throw us out of the place because of politics, and if we didn’t go there, that headquarters building would not be completed.”
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.