An audit panel has raised questions on the whereabouts of the interest accruing from N550 billion recovered by the Economic and Financial Crimes Commission (EFCC) from treasury looters.
The panel has also queried what it perceives as discrepancies in the EFCC records of recovered funds.
The questions are contained in the final report of the Presidential Committee on Audit of Recovered Assets (PCARA) covering May 29, 2015 to Novembr 22, 2018.
The panel is different from the Ayo Salami Presidential Investigation Committee which is currently probing allegations against the suspended Acting Chairman of EFCC, Mallam Ibrahim Magu, by the Attorney General of the Federation and Justice Minister, Abubakar Malami (SAN).
Sources said yesterday that none of the assets seized by the EFCC had been sold, except the 244 trucks which a Federal High Court ordered to be disposed of by the Deputy Chief Registrar of the FHC in conjunction with the Department of Petroleum Resources and the commission.
The proceeds of the sales were remitted into the Federal Government Recovery Account, it was gathered.
PRACA in a report on saturday says it was “quite disturbing that conflicting figures are being circulated in the public space by EFCC as the amount of recovered funds.”
Citing foreign currency recoveries as an example, the audit panel said: “EFCC reported a total naira equivalent of N46,038,882,509.87, while the naira equivalent of the foreign currency lodgments were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21.
“These inconsistencies cast a serious doubt on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it.
“While EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were N543,511,792,863.47. These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.
“It must be pointed out that the discrepancy of more than thirty nine billion naira does not include interest accrued in this account since it was opened.
“It therefore casts serious doubt on the credibility of the figures and means that substantial amount of money has not been accurately accounted for.
“Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion has been re-looted relating to the period under review.
“This is an apparent case of manipulation of data in a very brazen and unprofessional manner, and this has greatly eroded the public confidence in the anti-corruption efforts,’’ the report stated in part.
The PCARA alleged acts of corruption and money laundering against some EFCC officials, including Magu.
It said: “The NFIU reports established that the Acting Chairman has been using different sources to siphon money from the EFCC, and in some cases collecting bribes from suspects.
“The report has shown that a particular Bureau de Change based in Kaduna has more than 158 accounts and has been receiving huge sums of funds,” the PCARA report said.
The panel was tasked to audit the Assets and Finances of the EFCC as a legal entity from 2015-2020, with a view to establishing compliance or otherwise with procurement procedures of the EFCC in line with the provisions of the Procurement Act.
Fresh facts however emerged yesterday that none of the assets seized by the EFCC has been sold except the 244 trucks which the Federal High Court ordered to be disposed of by the Deputy Chief Registrar of the Federal High Court in conjunction with the Department of Petroleum Resources and the EFCC.
After selling the trucks, the proceeds were remitted into the Federal Government Recovery Account.
Sources also said there was allocation of vehicles to some government agencies through special auction with Presidential approval.
Assets under interim forfeiture order were also rented by some Ministries, Departments and Agencies (MDAs).
It was learnt that recently the EFCC secured a presidential approval to dispose of 450 forfeited vehicles in Abuja and Lagos.
But the sale of the vehicles is yet to commence.
Despite his travails, the suspended Acting Chairman of EFCC has ruled out a court action against the Federal Government.
He told his relations and lawyers that he has faith in President Muhammadu Buhari to ensure fairness and justice for him.
These details are contained in an investigative fact-sheet on the assets forfeited to the Federal Government.
The suspended EFCC chairman had been accused of selling assets to cronies and relations.
The fact-sheet was already made available to some MDAs and government officials.
Although Magu has denied the allegation, the Presidential Investigation Committee has directed all sectional heads, including the Director in charge of Assets Forfeiture, to submit their reports from 2015 to 2019 on or before Thursday.
Sources said “not a single recovered or forfeited property has been sold and the proceeds fraudulently converted.
“Also, there is a Presidential approval to dispose of 450 forfeited vehicles but no sale/ disposal has been conducted yet.”
One of the sources said: “In the coming days, the comprehensive list of these assets will be defended by the relevant units and Magu.
“It is important to clarify that some MDAs were involved in all the processes on how to dispose of assets; the EFCC or Magu was never unilateral.”
Some of the MDAs which benefitted from the forfeited assets after Presidential approval are the State House; the Ministry of Humanitarian Affairs and Disaster Management; the North-East Development Commission; the National Directorate of Employment( NDE); Pension Transitional Arrangement Directorate (PTAD); Voice of Nigeria (VON); the National Commission for Refugees and Displaced Persons and Lagos State Government.
Those who have sought to rent properties under interim forfeiture are the National Council for Arts and Culture and the National Human Rights Commission.
Other beneficiaries are the Nigerian Army, the Federal Ministry of Finance, the Fiscal Responsibility Commission, Nigerians in Diaspora Commission and the Federal Airports Authority of Nigeria (FAAN).
Magu is said to be not disposed to challenging the Federal Government in court under any guise.
His counsel, Mr. Wahab Shittu, made the clarifications in a chat.
He said: “Magu will not take the Federal Government to court because of his faith in the administration of President Muhammadu Buhari and his respect for the person of the President.
“He also believes that notwithstanding the campaign of calumny, justice will prevail.
“Magu is convinced that there are sufficient documentary materials in the custody of various government agencies that will exonerate him.”
The Ayo Salami panel is expected to continue its investigation on Sunday.
Itel S17: A Selfie Smartphone With Unbeatable Features For Users
From meeting lifestyle needs to blazing new trails, itel is continuously proving its dominance in the smartphone industry. The global smartphone and accessories brand has been in the news in recent weeks for yet again delivering on its promise to tailor its products to meet the everyday needs of users, laced with superior technology, user-friendly designs, and trail-blazing features. The itel S17 selfie smartphone fits that description with a few more extras to go with.
Olamide with itel S17
In an exclusive online launch held on 8th of October 2021, some of Nigeria’s biggest stars were on ground to share glowing remarks about the mind-blowing features of the itel S17 smartphone along with other products released the same day. itel brand ambassador Olamide ‘Baddo’ Adedeji- flanked by Nollywood star Mercy Johnson-Okojie and celebrity TV host Stephanie Coker- demonstrated how the itel S17 Smile Selfie Smartphone can lighten up your day and help your unique personality and style shine through.
The itel S17 rears its head elegantly on the heels of the S16, a user-friendly smartphone which gained glowing reviews from consumers and critics. The newer model, already a success in the industry, revolutionises the Smile Selfie technology that makes every smile count. Just turn on the camera and smile to capture your most beautiful moments and looks without trying too hard. But beyond that, the S17 helps you stay connected to family and friends all day long, with limitless social media time, music, movies, and fun games.
Big Battery for Premium Value
For those who love to binge on their phones, here’s a smartphone that offers you the freedom to talk, play and have maximum enjoyment without any worries. The itel S17 comes with a 5000mAh battery; that’s 1000mAh more than what the S16 offers. This big battery gives you as much as 7 hours of Selfie time, 30 hours of chat, 70 hours of non-stop music and 10 hours of entertainment. Unstable electricity has got nothing on you, as the itel S17 charges more quickly and lasts longer than most devices in its price category.
itel S17 has a 5000mAh big battery
This battery efficiency is further enhanced by the AI Power Master software that helps you save battery power by hibernating unused apps and allocating energy to only your most used apps. This is a high-tech power cataloguing system that gives more power to apps you use often, thereby optimising their performance, and less power to those you seldom use for all-round premium performance. So, whether your phone is your office or store, or you need to stay in touch with your social media followers all day, the itel S17 is your best bet.
Super-Stylish design for fun lovers
Nengi with the itel S17
Not many brands can conveniently combine efficiency and style in one smartphone. You can see why itel S17 created quite the buzz after its launch. We can talk all day about its sleek unibody design or its amazing 6.6″ HD+ waterdrop fullscreen, and we still won’t do justice to its exceptional beauty. At 8.85mm, this is one of the slimmest and most compact smartphones in the market today. It fits seamlessly in your palm, adding colour and lots of bright smiles to your day.
Other Premium lifestyle and safety features
Olamide with itel S17
The itel S17 smartphone also features three rear cameras that function interdependently to absorb all the light around you and make your photos come out just as you love them. And the front camera? Perfect for Selfie lovers. The itel S17 is ergonomically designed to support your lifestyle. The bottom speaker makes it even easier to communicate on the go. And in a world where cyber security is constantly an issue, the upgraded fingerprint unlock, and facial recognition combine to give you that trusted shield for confidential files and information.
The itel S17 is available in three amazing colours of Multicolour Green, Sky Blue and Deep Ocean Black in select stores nationwide.
Laugh Out Loud With itel On Your Campus
itel will be coming to your campus with Akpororo this October with the itel S17 Laugh Out Loud comedy show. It promises to be lots of fun with the new itel S17 smartphone, itel accessories, and other gift items up for grabs. For more information, please visit @itelNigeria on Facebook, Instagram, and Twitter.
Live Healing Services with Pastor Chris: Getting Ready to Shake the World
Healing Streams Live Healing Services with Pastor Chris: an online global phenomenon that has blessed so many lives in countless ways. Streamed via the internet and on various terrestrial and satellite TV and radio stations all over the world, billions have been tremendously blessed by the power of God through healing miracles, salvation in Jesus Christ, and spiritual endowments.
Testimonials of supernatural encounters and divine interventions into human situations abound aplenty from those who have participated in these programs since its inception in September 2020, and more especially for the March and July 2021 editions that featured the man of God, Pastor Chris.
“My son had skin problem on his back. During the July Healing Streams Live Healing Services, I placed my hand on his back as Pastor Chris was praying. When we woke up the next morning, we saw a huge difference on my baby’s back. He is completely healed. Indeed, God is amazing, I can’t stop praising and thanking Him for what He’s done. My son’s skin was so ugly, but is now perfect,” says Lesego from South Africa.
“On the Monday of the week of the recent Healing Streams program in July 2021, I developed a sudden lower back pain whilst in the kitchen. The pain became so severe that I could not sit or even stand but could only lie on my back. I participated in the program from Friday and by the close of the program on Sunday, I was totally healed. The pain disappeared and I can now sit and stand normally. Glory be to Jesus!” Harrison from Spain proclaims.
Neither time nor space in any one article would suffice to even begin to tell of the many glorious wonders that God has wrought through the Live Healing Services, which is reminiscent of John’s declaration when he said, “Jesus did many other things. If they were all written in books, I don’t suppose there would be room enough in the whole world for all the books,” (John 21:25 CEV).
Still, all that has happened is only just a foretaste of things to come. The Healing Streams Live Healing Services with Pastor Chris will hold from Friday to Sunday, 29–31 October 2021, and it is set to be the biggest and grandest crusade yet. Nothing the world has ever seen will compare to it.
On the impact of the upcoming program, the man of God, Pastor Chris says, “We are going to shake the world for Jesus one more time. It’s the biggest thing happening in the world right now.”
Language? Time? Distance? There are no barriers to your miracle. The program will be streamed live in over 4,000 languages, on the Healing Streams TV website (www.healingstreams.tv), the Healing School Mobile App, and on Loveworld Networks (TV and radio stations all over the world). You can participate from wherever you are!
So, the only question is this: are you ready?
There are 4 Ps to remember when preparing for the Healing Streams Live Healing Services with Pastor Chris:
- Pray about the program and for those who will participate in it.
- Publicize it to your world. You sharing the news is the only way some people will hear.
- Prepare places; share the program with other by creating on-site and virtual healing centers
- Partner. Sponsor the program.
To register for the program and for more information on what to do, please visit www.healingstreams.tv/3days.
Estate Dev: T.Pumpy Concept MD Assures Jikwoyi, Kpeyegi, Kurudu Subscribers of Adequate Provision of Infrastructure
The Managing Director and Chief Executive Officer (CEO) of T.Pumpy Concept Limited, a famous estate developer based in Abuja, Mr Akintayo Adaralegbe has assured the subscribers at its estate lands at Jikwoyi, Kpeyegi and Kurudu, of adequate and timely provision of infrastructure at the various locations currently being developed by the company.
Mr Aderalegbe, who gave the assurance during an interactive meeting with all the subscribers in the three locations, which was held at company’s Kpeyegi site on Saturday 16th April 2021, added that he personally summoned the meeting for him to get a firsthand information on issues affecting the subscribers in the three estates and know how to address them.
He said that he would continue to stand on the integrity the company is associated by making sure that all the needed infrastructure are provided as the subscribers build on their allocated spaces, assuring that access road leading to the site and security, would be provided for those subscribers in Kpeyegi, who had commenced the development of their allotted spaces.
For the investors at Jikwoyi and Kurudu estates, Aderalegbe assured them that the mapping and beaconing of individual spaces will commence from Monday, 18th November 2021, even as he also assured that the roads leading to Jikwoyi and Kpeyegi Phases and 1 and 2 of the two estates will also commence in due course.
He explained to the subscribers present and those who joined through zoom social media platform, that his mission of venturing into estate business and housing development is not necessary to make profit from people, rather to make housing affordable to Nigerians, through the various affordable estates being developed by the company in various states of the country, and added that trust that his company had built over the years in the housing development, made it possible for subscribers to buy-in immediately in all their estates, whenever the company come up for a new estate to be developed.
Highlights of the meeting was when Mr Aderalege personally attended to all the issues raised by some of the subscribers, especially on areas relating to double allocation, security, access road and light.
Politics1 year ago
Electricity Tariff Hike: Review Is A Painful Adjustment – President Buhari
Politics1 year ago
South-South Zone Is Completely PDP, Says Wike Ahead Of Edo Election
Politics1 year ago
Party Crisis: Progressives Governors’ Forum DG Calls For Constitutional Review
Politics1 year ago
Edo Refinery, Other Projects Will Earn Gov. Obaseki Second Term – Gideon Ikhine
Politics1 year ago
PGF Boss, Lukman Denies Media Report of Division Among APC Governors
Investigation1 year ago
NDDC Spent 1.3trn Between 2015 And 2019 – Senate Report
Politics2 years ago
Ignore Tinubu’s Comment, He Cannot Speak for South-West – Activist
News3 years ago
Armed Forces Need N9bn Annually For Shoes, Boots, Says DG Defence Research