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The Lagos federal high court has ordered the interim forfeiture of $2.045 million, seven landed properties, and shares linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
Akintayo Aluko, the presiding judge, made the order on Thursday after an application filed by Rotimi Oyedepo, a senior advocate of Nigeria (SAN), representing the Economic and Financial Crimes Commission (EFCC) in a suit marked FHC/L/MISC/500/24.
Oyedepo said the forfeited items were reasonably suspected to be proceeds of unlawful activities.
“In the course of this investigation, it was revealed that the erstwhile CBN governor negotiated kickbacks in return for allocation of foreign exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses,” he told the court.
“Upon investigation, it was revealed that one Ifeanyi Omeke, a deputy general manager and head of litigation of Zenith Bank Plc, who worked closely with Godwin Emefiele, ran several errands for him, which included the purchase and perfection of title documents for several properties located in highbrow areas of Lagos.
“And that upon a search conducted in the office premises of Mr. Ifeanyi Collins Omeke by the operatives, several seals for various companies, including but not limited to Queensdorf Global Fund Limited, were recovered.
“That the said seals were kept in custody of Mr. Ifeanyi Collins Omeke by Godwin Emefiele, and that investigation has revealed that all seven companies… are suspected to be shell companies used by Godwin Emefiele as vehicles for money laundering and holding proceeds of his illicit activities.”
“The two shares’ certificates are of Queensdorf Global Fund Limited Trust, while the properties are all located in the highbrow Lekki and Ikoyi parts of Lagos and Agbor in Delta.
“The landed properties are listed as two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1; an undeveloped/bare land, measuring 1919.592 sqm with survey plan No. DS/LS/340 at Oyinkan Abayomi drive (formerly Queens drive), Ikoyi; a bungalow at No. 65a Oyinkan Abayomi drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex under construction on a 22-plot of land in Agbor; eight units of undetached apartments on a plot measuring 2457.60sqm at No. 8a Adekunle Lawal road, Ikoyi; and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm at 2a Bank road, Ikoyi.
“I also know as a fact and verily believe that the properties sought to be forfeited were acquired in the name of corporate entities with a view to concealing the unlawful origin of the funds used for their acquisition and that the title document in respect of the properties listed in schedule A herein were recovered by the team in the course of this investigation.”
The EFCC lawyer sought a forfeiture of the investments to the federal government.
After granting the request, the judge directed the EFCC to publish the interim forfeiture order in a national newspaper to enable anyone interested in the properties to appear before the court and show cause within 14 days of why it should not be made in favour of the government.
Further hearing of the matter was adjourned to September 5.
Dr Abdullahi Ganduje, the National Chairman of the All Progressives Congress, APC, has described the allegations that protesters looted and carted away ‘sensitive documents’ relating to his corruption trial as a huge joke.
The former Governor of Kano State in a statement signed by his Chief Press Secretary, Edwin Olofu on Thursday said credible intelligence reports revealed that the protest, which tragically turned bloody, was directly sponsored by Governor Abba Kabir Yusuf’s administration.
He said contrary to the claim by the Kano government suggesting that APC sponsored the recent violent protests in Kano, rather it was the Kano State government that funded the protest to tarnish the image of President Bola Tinubu-led administration.
The chairman stressed that it was alarming that a sitting governor would incite such chaos and violence within his state, putting the lives and properties of innocent citizens at risk.
Ganduje, therefore, condemned this reckless and irresponsible behaviour, which he said was an attempt to destabilize Kano, undermine the peace and security of the region, and more importantly tarnish the good image of the President.
He demanded that the federal government, through relevant security agencies, immediately launch a thorough investigation into the Kano State Government’s involvement in this unfortunate incident.
Ganduje maintained that the sponsors of this violence must be brought to justice to ensure that this does not set a dangerous precedent for other states.
He noted: “It is laughable that governance has been reduced to a huge joke in Kano state that the state government will condescend low to suggesting that demonstrators broke into a court and carefully selected documents relating to the trial of the APC National Chairman, handpicked them and take them away in this digital age, no discerning mind will buy into this pedestrian propaganda.
“What happened to the documents with the government lawyers? The state government is bereft of ideas on how to run the affairs of the state and has always resorted to churning out myriads of corruption allegations against the former governor of the state Abdullahi Umar Ganduje and his family who served the state diligently.
“This claim is nothing more than a desperate attempt by Governor Yusuf’s administration to divert attention from their culpability in the violence that erupted in the state.
“The insinuation that such critical documents could be carted away during a protest is not only far-fetched but also a clear indication of the state’s growing incompetence in handling both security and legal matters.”
‘The ₦21 Million Naira Mentioned By Senator Sumaila Is Not A Personal Allowance Or Salary’ – Nigerian Senate counters claim
AFOLABI
The Nigerian Senate, on Thursday, debunked reports that lawmakers in the upper chamber of the National Assembly receive ₦21 million naira monthly as salary and allowances.
The Chairman, Senate Committee on Media and Public Affairs, Senator Adeyemi Adaramodu, made this clarification in a statement in Abuja.
According to him, running costs, as mentioned by Senator Abdurrahman Kawu Sumaila in his earlier interview, is not peculiar to the National Assembly, and neither is the mentioned amount a personal emolument for any Senator.
The explanation follows the disclosure by Sumaila, who represents Kano South senatorial district of Kano State in the National Assembly, that Senators get ₦21 million naira monthly each as allowances and running costs.
He made the revelation in a chat with the BBC Hausa Service on Wednesday morning.
The disclosure generated fresh controversy over the earnings of Nigerian lawmakers amidst the allegation by former President Olusegun Obasanjo that members of the National Assembly, fix bogus salaries and allowances for themselves in contravention of extant laws.
However, Adaramodu said that “running cost” was quite different from the salary and personal allowances of the lawmakers.
He explained that the running costs are not personal to any lawmaker, but used for official purposes such as maintaining lawmakers’ Constituency offices and staff, oversight functions and community engagements.
The Senate spokesperson said the lawmakers do not engage in wasteful spending, explaining that “The Nigerian Senate is an Assembly of accomplished and successful professionals, administrators and captains of industries, who are not driven by these often touted egregious pecuniary bits, rather for their patriotic zeal in the nation’s quest to breathe life to Nigeria’s political and socio-economic dry bones.”
Adaramodu said the Revenue Mobilisation and Fiscal Allocation Commission (RMAFC) has already clarified and disclosed the monthly salary of lawmakers in the country, and all other figures apart from what the commission declared should be ignored.
“For the umpteen time, the Senate is compelled to react to the obsolete allegations of a phantom salary and personal emoluments spuriously credited to Senators monthly.
“The Revenue Mobilisation and Fiscal Allocation Commission, the agency of government that fixes political officials’ salaries and allowances, has duly disclosed the monthly personal take-home of Senators.
“However, all arms of Government and their personnel, Governors, Ministers, Permanent Secretaries, Directors-General, State Commissioners, even Boards and parastatals, including local government councils run their activities with running costs and the National Assembly is not an exemption.
“Thus the money referred to by Senator Kawu Sumaila is neither his salary nor personal allowance.
‘It’s for the daily running of offices by Senators and other attached statutory officials. It equally provides funds for Constituency office staff. It is also for oversight functions and community engagements.
“This funds are not static and it’s provided for in the annual budget. Such funds are retired by relevant officers after being used for official purposes and proof of genuine expenditure.
It’s not a personal allowance or salary of the legislator.
“The National Assembly receives about one per cent of the federal budget and has never exceeded this, even when the non-availability of funds is pervasive.
“The Nigerian Senate is an Assembly of accomplished and successful professionals, administrators and captains of industries, who are not driven by these often touted egregious pecuniary bits, rather for their patriotic zeal in the nation’s quest to breathe life to Nigeria’s political and socio-economic dry bones,” he said.
Zhongshan, the Chinese company involved in a legal dispute with the Ogun State government, has expressed its readiness to settle with the Nigerian government after a French court authorized the seizure of three Nigerian presidential jets.
The court’s decision prohibits the movement, sale, or purchase of the aircraft until Zhongshan receives $74.5 million, awarded to the company in an arbitration ruling.
The jets, including a Dassault Falcon 7X, a Boeing 737, and an Airbus A330, were all undergoing maintenance at airports in France and Switzerland when the seizure orders were issued.
The seizure is part of efforts by Zhongshan to enforce the arbitration award granted in its favor in March 2021, following the revocation of its export processing zone management contract by the Ogun State government in 2016.
In a statement sent to Premium Times, on Thursday, Zhongshan indicated that it is willing to negotiate a settlement with the Nigerian government to resolve the dispute.
This development comes amidst efforts by the Federal Government, through the Offices of the National Security Adviser and the Attorney-General of the Federation, to challenge the court orders and ensure the release of the seized jets.
The Federal Government has argued that the aircraft are sovereign assets, used solely for official purposes, and therefore immune from attachment.
The statement reads, “Zhongshan has only ever sought to assert its rights under international law and is confident in its case. The independent arbitral panel was found unanimously in its favour, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced. The French court was fully aware of the facts when it reached its decision.
“Far from being just a fence, the Ogun Free Trade Zone was featured as a significant international investment by the Economist Intelligence Unit.
“Zhongshan has for a long time been ready to enter serious negotiations with the federal government of Nigeria to settle this case and still awaits an indication that the government is equally willing.”
The Federal Government has initiated legal and diplomatic actions to overturn the interim orders leading to the attachment of three Nigerian presidential aircraft in France.
These steps are being coordinated by the Offices of the National Security Adviser (NSA) and the Attorney-General of the Federation (AGF), according to a statement released by Kamarudeen Ogundele, spokesperson for AGF, Lateef Fagbemi.
The Federal Government became aware of the temporary attachment of the jets on Wednesday, August 14, 2024.
The orders, which were issued by the Judicial Court of Paris on March 7 and August 12, 2024, were secured by Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese company seeking to enforce an arbitral award granted in its favor on March 26, 2021.
The dispute stems from a contractual disagreement between Zhongshan and the Ogun State Government over the operation and management of the Ogun Guangdong Free Trade Zone.
Despite the dispute originating at the subnational level, the enforcement actions are being directed against the Federal Government, as international law holds that actions of subnational entities are attributable to the state.
In its statement, the Federal Government clarified that the jets in question are sovereign assets, used solely for official purposes, and thus immune from attachment.
“Further actions are being taken to resolve the entire dispute through available legal means,” the statement read, emphasizing Nigeria’s firm position on the immunity of its sovereign assets.
The seized aircraft include a Dassault Falcon 7X stationed at Le Bourget airport in Paris, a Boeing 737, and an Airbus A330 located at Basel-Mulhouse airport in Switzerland.
All three jets were undergoing routine maintenance at the time of the seizure.
The Presidency has stated that it is aware of the various failed attempts by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited, to take over offshore assets of the Federal Government of Nigeria through subterfuge.
Naija News reported earlier that a French court had authorized the seizure of three presidential jets linked to the Federal Government of Nigeria as part of a legal battle involving Zhongshan, a Chinese company.
The company had a business dispute with the Ogun State government, which led to this significant legal action.
But in a statement on Thursday, Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, stated that the Federal Government is not under any contractual obligation with the company.
He said the case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government.
According to him, the Federal Government is fully aware of efforts being made by the Ogun State Government to reach an amicable resolution on the matter.
The statement continues: “It must be said without any equivocation that Zhongshan has no solid ground to demand restitution from the Ogun State Government based on the facts regarding the 2007 contract between the company and the State Government to manage a free-trade zone.
“When the contract with Ogun State was revoked in 2015, the company had only erected a perimeter fence on the land earmarked for a free trade zone.
“While the Attorney-General of the Federation and Minister of Justice is working with the Ogun State Government on an amicable resolution, Zhongshan obtained two orders from the Judicial Court of Paris dated March 7, 2024, and August 12, 2024, without any notice being duly served on the Federal Government of Nigeria and Ogun State Government.
“This arm-twisting tactic by the Chinese company is the latest in a long list of failed moves to attach Nigerian government-owned assets in foreign jurisdictions.
“The material facts in the transaction between the Ogun State Government and Zhongshan point to another P&ID case in which unscrupulous and questionable individuals falsely present themselves as investors with the sole objective of undercutting and scamming Governments in Africa.
“Undoubtedly, Zhongshan withheld vital information and misled the Judicial Court in Paris into attaching the Nigerian government’s presidential jets, which are on routine maintenance in France. The use and nature of the Presidential jets as assets of a Sovereign entity whose assets are protected by diplomatic immunity forbid any foreign Court from issuing an order against them.
“We are convinced the Chinese company misled the Judicial Court of Paris regarding the use and nature of the assets it seeks to attach and did not fully disclose to the court as required by law.
“This same Chinese company had tried to enforce its questionable judgment in the UK and USA but failed.
“Like the P&ID case, foreign companies are trying to defraud Nigeria with the collaboration of some bureaucrats. Zhongshan appeared to have sold the judgment they got to a venture capitalist seeking to make money by embarrassing the Federal Government and President Bola Tinubu.
“We want to assure Nigerians that the Federal Government is working with the Ogun State Government to discharge this frivolous order in Paris immediately.
“Nigerian Government will always work to protect our national assets from predators and shylocks who masquerade as investors.
“Background to the Zhongshan Fucheng Case:
“A contract between Ogun State and Zhongshan to manage a free-trade zone was executed in 2007. The parties entered into a dispute in 2015, and arbitration began in 2016.
“By 2019, the arbitration hearing had been concluded. The Arbitral Panel awarded over 60 million USD against the Federal Government of Nigeria (FGN), a co-defendant, when all Zhongshan had done was build a perimeter fence around the free-trade zone.
“Based on legal advice, the Ogun State Government resolved to resist the enforcement of the award. The resistance was successful in 8 different jurisdictions. There are pending appeals against recognition orders issued in both the US and UK.
“Ogun State also engaged Zhongshan in settlement discussions on reasonable terms. The last meeting, held in September 2023 in London, lasted for three days and was attended by several officials of Ogun State, including Governor Dapo Abiodun and the Attorney General/Minister of Justice, Prince Lateef Fagbemi.
“Zhongshan’s initial reasonable readiness to consider Ogun State’s offer was surprisingly reversed by the second day when it insisted on the government paying the full arbitration debt. This led to a breakdown of the mediation, with parties agreeing to meet again in the first quarter of this year.
“Since then, Zhongshan has been evasive. Instead, it embarked on a series of enforcement proceedings, which the legal team appointed by the FGN and Ogun State successfully opposed. In cases similar to the present one, where Zhongshan obtained an ex-parte order, Ogun State successfully set aside the orders.
“Ogun State has not given up on a reasonable settlement option, with the most recent letter sent to Zhongshan last week. Zhongshan only responded after obtaining this latest illegal order.”
Former Nigeria Bar Association (NBA) president, Olisa Agbakoba, has advised President Bola Tinubu to work towards giving the country a new constitution.
The Senior Advocate of Nigeria (SAN), Olisa Agbakoba said the current political structure of the country has been ineffective for too long.
In a statement, on Thursday, on X, Agbakoba said the current power-sharing structure in the 1999 Constitution (as amended) did not decentralize governance.
“It’s time to reconsider Nigeria’s governance structure. We’ve been operating within a system that has been ineffective for far too long. Too much power has been centralized in Abuja, limiting the authority of states and regions and stifling their power. We need to go back to basics with a constitutional reform that truly redistributes power, empowering states to drive their own development.
“History has taught us a valuable lesson. In 340 AD, Roman Emperor Diocletian believed that his empire was too vast for one person to effectively govern. What did he do? He appointed four co-emperors, decentralizing power and allowing the Roman Empire to thrive for another 1,500 years! This is the bold action required in Nigeria.”
He further advised the National Assembly to start up the process for constitutional reform. He noted that decision-making should be closer to the citizens.
“We should aim for a governance structure where governors have the authority to lead their states, local communities have a say in their affairs, and decision-making is closer to the people it affects.
“The National Assembly holds the key to making this change. We need a constitutional reform that recalibrates the balance of power and allows real strong political and economic development to take hold in Nigeria,” Agbakoba added.
Former presidential candidate of the Labour Party in the 2023 elections, Peter Obi, has lambasted the government of President Bola Tinubu over the reports on the seizure of some jets in the country’s presidential fleet by foreign business partners.
Obi, in a personally signed statement on Thursday, described the development as an international embarrassment.
He accused the Tinubu government of operating in secrecy and running the government like a personal family asset.
The outburst by the former Anambra State Governor follows the disclosure that a French court had authorized the seizure of three presidential jets linked to the Federal Government of Nigeria as part of a legal battle involving Zhongshan, a Chinese company.
The company had a business dispute with the Ogun State government, which led to this significant legal action.
Obi, in his reaction via a statement released on his X account, said the development has exposed the failed leadership in Nigeria.
He also accused the Tinubu government of mismanaging the country’s resources while a large portion of the citizens continue to languish in poverty.
The former presidential candidate questioned what both the Ogun state and Federal governments did before the French court action.
According to him, “The trending international news on the seizure of three Jets belonging to Nigeria’s Presidential fleet is yet another of many embarrassing things exposing our failed leadership and our attitude to the rule of law even in a democracy. It has also exposed multiple dimensions to our leadership failure and our insensitivity to the plight of the growing poor class in our midst.
“The fact that the federal government went ahead with the jet deal despite the cacophonous cry against the purchase of a Presidential jet at this time when the people are going through a horrifying economic hardship shows the insensitivity of this administration.
“Added to it is the embarrassing aspect of our country’s Presidential jets being held for contractual breaches arising from yet another dimension of inadequate leadership tidiness. I have been loud in my demand over time that the government at all levels should be accountable to the people, meaning that they must be very transparent in all their dealings. Until a court in France prohibits Nigeria from moving or selling these three jets, Nigerians have no iota of information about both the buying and selling of these aircraft.
“It has been done in secrecy. Federal Government property, which belongs to the people, is being managed as a personal family asset.
“Paying as much as $100m dollars for a Presidential jet for a country that is the poverty capital of the World and has more out-of-school children with over 40% food inflation is the height of concern for the people’s feelings.
“This incident has also opened up an aspect of indiscipline that is copiously embedded in our country which is the abuse and disrespect for the rule of law.
“Here are questions begging for answers:
“To what extent did the Ogun government follow its agreement with the Chinese firm?
“After the UK court ruling that prohibited some Nigeria building in Liverpool, what did both Ogun state and Federal government do before the French court action?
“I would like to, therefore, challenge the federal government to come clean and transparent on this matter and tell Nigerians how we got to this latest international mess. – PO”
[STATE HOUSE PRESS RELEASE] President Tinubu And President Mbasogo Sign Agreement On Gas Pipeline For Gulf Of Guinea
Admin![[STATE HOUSE PRESS RELEASE] President Tinubu And President Mbasogo Sign Agreement On Gas Pipeline For Gulf Of Guinea](/media/k2/items/cache/0571a09c120ce39a987f4d03d028ec49_S.jpg)
President Bola Tinubu and Equatorial Guinean President Teodoro Obiang Nguema Mbasogo on Wednesday evening in Malabo signed an agreement on Gulf of Guinea Pipeline Project, further affirming partnership for mutual development.
The agreement covered legislative and regulatory measures for the gas pipeline, establishment and operation, transit of natural gas, ownership of the gas pipeline, and general principles.
In his remarks at the event, President Tinubu, who is on a three-day official visit to Equatorial Guinea, said the signing of the agreement will open up new opportunities for gas exploration and employment.
The President stated that the two leaders had discussed issues related to the creation of employment, food security, multilateral relations, and conflict resolution mechanisms on the continent during a private meeting that preceded the signing of the agreement.
“Concerning Africa, conflicts and conflict resolution were discussed. We discussed various areas of conflicts and what we can do to promote peace.
“We talked about promotion of peace and stability in our countries, and growth and prosperity on our continent.
“In the same way that Europe and America have kept themselves and found a solution for their conflicts, we have to look at both inadequate capital, industrialization efforts, research and development programmes, and enlighten our people, navigate our way through problems.
“Instead of the crisis and conflicts that we see in the Republic of Congo, and others, we have to look inwards to solve problems ourselves,’’ the President said.
President Tinubu said the discussion with the President of Equatorial Guinea also covered challenges of security, African Continental Free Trade Area (ACFTA), and food security.
“We are all going for it. Within Africa and the African Union, we have resolved that we will work together to make sure that the solution to many of our problems in Africa comes from within,’’ the President concluded.
In his remarks, the President of Equatorial Guinea said bilateral relations with Nigeria over many years have been rewarding and emphasized the need to deepen cooperation across salient areas.
President Mbasogo said Africa’s vision of having a permanent seat in the Security Council of the United Nations is vital for the development of the continent, affirming that Equatorial Guinea will work with Nigeria to realize the objective.
The President of Equatorial Guinea said the signing of the agreement was strategic for Africa’s development.
The Minister of Foreign Affairs, Ambassador Yusuf Tuggar of Nigeria, and Mr. Simeon Oyono Esono, Minister of Foreign Affairs of Equatorial Guinea, also signed the agreement.
The Minister of Justice and Attorney General of the Federation, Chief Lateef Fagbemi, SAN; Minister of Defence, Muhammad Badaru Abubakar; Minister of Interior, Dr. Olubunmi Tunji-Ojo; Minister of State, Petroleum, Gas, Ekperikpe Ekpo, and Minister of Youth Development, Dr. Jamila Ibrahim- Biu were present at the signing of the agreement.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
Some parts of Rivers and Bayelsa states will experience months of blackout after vandals destroyed thirteen Transmission Company of Nigeria’s towers along the Ahoada-Yenagoa 132kV Double Circuits.
Ndidi Mbah, General Manager of Public Affairs, TCN, disclosed this in a statement on Wednesday.
The TCN urged the governments of Rivers and Bayelsa states to assist it in addressing the ongoing vandalism of its installations, which has become increasingly alarming and overwhelming.
This comes after vandals had earlier destroyed the same Ahoada-Yenagoa transmission line.
“Additionally, a new contract was recently awarded for the reinforcement of towers 19-31 on the Ahoada-Yenagoa line, where tower members had been vandalized and stolen.
“Despite these ongoing efforts, the recent vandalism of the thirteen towers presents a significant challenge to TCN,” it said.
The company said that the thirteen vandalized towers are located in several communities, including Okobe in Ahoada East, Emezhi 1 in Ahoada West, and Mbiama in Ahoada West Local Government Areas of Rivers State, as well as the Igbogene community in Bayelsa State.
“Given the extent of the destruction to the towers and the ongoing work on previously vandalized transmission towers, it may take several months for TCN to complete the rebuilding and stringing of the towers to restore power supply to the state”, TCN added.
TCN called for collaboration among security operatives, and host communities to tackle rising vandalism of critical electricity facilities in the country.
[DailyPost]
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Police and youths have blocked the All Progressive Congress (APC) Secretariat in Makurdi, Benue state capital .
It is the fourth time the APC Secretariat will be put under lock and key.
This is coming ahead of Comrade Austin Agada- led State Working Committee (SEC) APC caucus meeting scheduled for Thursday.
The Benjamin Omakolo- led APC State Working Committee (SWC) has also scheduled a caucus meeting for today in Makurdi to find tune arrangement for Local Governments elections .
Benue State Independent Electoral Committee ( BSIEC) scheduled October 5 for the polls in Benue state .
Details Shortly…
[TheNation]
The Economic and Financial Crimes Commission (EFCC) says the fifty billion naira it gave to the Nigerian Education Loan Fund (NELFUND) is part of recovered proceeds of crime remitted to the Federal Government and not a donation by the Commission.
The EFCC, which said this in a statement, explained that it is clarifying reports in a section of the media purporting that the Commission donated fifty billion naira to NELFUND from its recovery account.
The statement explained that President Tinubu, in furtherance of his social intervention policy for the most vulnerable segments of the population, decided in his wisdom to plough the money into funding the critically acclaimed Students Loan Scheme.
The EFCC says it is not its place to determine where the Government commits Recovered Proceeds of crime, but the Student’s Loan Scheme is a salutary innovation which has the potential to reduce youths’ involvement in criminality.
The Chairman of the EFCC, Ola Olukoyde, had disclosed during a courtesy visit by NELFUND’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, on Tuesday that the Anti-graft Agency will monitor the use of the funds to ensure accountability and the realization of the objectives of the Scheme.
As part of efforts to secure the nation and protect her territorial integrity, the Minister Of State for Defence, Bello Matawalle, says the Armed Forces of Nigeria requires two hundred million rounds of ammunition annually for its operations.
He said the volume will cost the Federal Government at least two dollars per ammunition.
The minister disclosed this in Abuja on Wednesday at the signing of a memorandum of understanding between the Ministry of Defence through the Defence Industries Corporations of Nigeria (DICON) and the National Agency for Science and Engineering (NASENI) on the establishment of an ammunition production factory in Nigeria.
He blamed past governments for the nation’s failure to achieve self-sufficiency in the production of military hardware.
Matawalle assured Nigerians that the Defence Industries Corporation will in the next three years export its military capabilities through local manufacturing of military hardware.
The Nigeria Customs Service has been directed to start the implementation of the zero per cent import duty and exemption of Value-Added Tax on basic food items, The PUNCH reports.
This was after President Bola Tinubu approved the implementation of zero per cent import duty and exemption of Value-Added Tax on basic food items.
The Ministry of Finance confirmed the approval in a letter to the Nigeria Customs Service dated August 8, 2024. The Nigeria Customs Service also confirmed the development in a document shared with one of our correspondents on Wednesday.
Responding, the Comptroller-General of the NCS, Bashir Adeniyi, instructed officials of the service to commence enforcement measures.
In the circular titled, “Approval for the implementation of zero per cent duty rate on basic food items”, the NCS said the Ministry of Finance sent a letter to the service, informing the agency that Tinubu has approved the implementation.
The letter dated August 14, 2024, and signed by the Deputy Comptroller-General, C.K Niagwan, noted that the food commodities include maize, husked brown rice, wheat, grain beans, and millet.
She stated that the policy is restricted to the items listed and is effective from July 15 to December 31, 2024.
The letter read, “I am directed to forward herewith a copy of the Federal Ministry of Finance letter, confirming His Excellency, Mr President’s approval for the implementation of zero per cent duty rate and Value Added Tax exemption on some basic food items.
“You are to note the following, ‘the policy is restricted to the items listed in the letter and it is effective July 15, 24 until December 31, 24. The importation of these items shall be limited to investors with milling capacity and a verifiable Backward Integration Programme for some of the items.”
The deputy director further stated that the finance ministry would provide the list of importers and approved quotas during the implementation period and called for wide coverage to ensure strict compliance.
“The Federal Ministry of Finance shall from time to time, during the implementation period, furnish the Nigeria Customs Service with the list of importers and their approved quotas to guide the importation of the basic food items. Ensure wide circulation for strict compliance, please,” the letter added.
Recall that the Federal Government announced on July 10 the suspension of duties, tariffs, and taxes on the importation of food staples through land and sea borders to reduce inflation.
On August 7, the NCS said the duty waiver on imported foods would be implemented within the next week.
In the first letter, the finance minister, Wale Edun, said the “measure which is geared towards ameliorating the high cost of food items in the Nigerian market shall be limited to the national supply gap to be determined by a committee set up by the minister”.
It showed that the government crashed the duty rate and levy from 30 per cent to zero for husked brown rice, from five per cent to zero for grain sorghum, millet, and maize, and removed the 20 per cent duty levy for wheat and beans.
Edun said importers applying for the duty waiver must have milling capacity and a verifiable backward integration programme.
BIP is the sourcing of raw materials locally to reduce dependence on foreign raw materials.
“This measure which is geared towards ameliorating the high cost of food items in the Nigerian market shall be limited to the national supply gap to be determined by a committee set up by the minister.
“The importation of these items shall also be limited to investors with milling capacity and verifiable Backward Integration Programme for some of the items,” the minister said.
On Tuesday, the comptroller-general of the customs service said the Federal Government would lose about N188bn in revenue due to the suspension of import duties on food commodities.
Adeniyi said the service would ensure adequate implementation by enlisting special corridors to clear imports of food items.