Category: Finance - Page 8 - African News Today

Properties In Abuja, Lagos, London, Dubai Allegedly Linked To Arrested Accountant-General

20May

By Obiajulu Joel NwoluNo Comments

Corruption, Finance, News, Nigeria

Properties In Abuja, Lagos, London, Dubai Allegedly Linked To Arrested Accountant-General

Properties across London, Dubai, Lagos and Abuja have been allegedly linked to the Accountant-General of the Federation, Ahmed Idris, who was arrested by the Economic and Financial Crimes Commission over N80 billion fraud. This was disclosed by a source in the anti-graft agency, who preferred anonymity, on Thursday. According to the source, the missing fund is actually more than N80 billion, as the agency only quoted the figure based on its current findings. The source said, “Though we are currently investigating the whole issue but it is certain that the said fraud is worth more than N80 billion. Read Also: EFCC Arrests Accountant General, Idris For Alleged N80b Fraud “It is true that some properties in London, Dubai, Lagos and Abuja are linked to the Accountant-Genera...

FG Moves To End ASUU, Poly Lecturers Strikes, Begins Arrears Payment

20May

By Obiajulu Joel NwoluNo Comments

Education, Finance, News, Nigeria

FG Moves To End ASUU, Poly Lecturers Strikes, Begins Arrears Payment

The Federal Government has commenced the payment of minimum wage arrears, which it owed lecturers under the aegis of the Academic Staff Union of Polytechnics and Academic Staff Union of Universities as part of efforts to end ongoing strikes by the unions. The National President of ASUP, Dr. Anderson Ezeibe, and the Chairman, ASUU FUTMinna, Dr. Gbolahan Bolarin, confirmed this in separate interviews with Punch in Abuja on Thursday. Recall that the two unions are currently on strike following the inability of the government to meet their demands including the payment of minimum wage arrears and release of revitalisation funds, among others. While ASUU commenced its strike on February 14, 2022, ASUP is currently on an initial two-week warning strike. Confirming the payment on...

N80bn: Accountant-General’s Arrest Proves IPPIS is Fraud – ASUU

19May

By Obiajulu Joel NwoluNo Comments

Corruption, Education, Finance, News, Nigeria

N80bn: Accountant-General’s Arrest Proves IPPIS is Fraud – ASUU

The Academic Staff Union of Universities (ASUU) has said the arrest of the Accountant-General of the Federation, Ahmed Idris, by the Economic and Financial Crimes Commission, EFCC, has buttressed its notion that IPPIS is fraud. The union said this while reacting to Idris’s arrest over alleged money laundering and diversion of N80bn. ASUU President, Prof. Emmanuel Osodeke, speaking with DailyTrust, warned that the case should not be covered up, stating that IPPIS is just a fraud used by the Accountant-General to siphon funds and not control corruption. He said: “We have said it over and over again that IPPIS is a fraud. We’ve also said that the Accountant-General office is a fraud, and they are using IPPIS to relocate all the fraud activities to one centre, which is the Accoun...

JET-A1, Others May Push Flight Above N100,000 – Domestic Airlines

19May

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria, Transportation

JET-A1, Others May Push Flight Above N100,000 – Domestic Airlines

Domestic airlines under the aegis of the Airline Operators of Nigeria have said that rising operational costs occasioned by aviation fuel price hikes, foreign exchange shortage, among others may push the base economy flight ticket to N100,000. The spokesperson for local airlines/Chairman, United Airlines, Professor Obiora Okonkwo, made the disclosure during an exclusive interview with The PUNCH on Wednesday in Abuja. Aside from the lingering aviation price hike crisis, the airline chief said local operators were being compelled to source foreign exchange from the parallel market at high rates due to a lack of adequate supply from the Central bank of Nigeria via the commercial banks. Consequently, he said an increase in the base economy flight ticket to at least N100...

EFCC Arrests Accountant General, Idris For Alleged N80b Fraud

17May

By Obiajulu Joel NwoluNo Comments

Corruption, Finance, News, Nigeria

EFCC Arrests Accountant General, Idris For Alleged N80b Fraud

EFCC Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested serving Accountant General of the Federation (AGF), Ahmed Idris, in connection with diversion of funds and money laundering activities to the tune of N80 billion. He was arrested yesterday in Kano State and was immediately moved to Abuja last night. EFCC spokesperson, Wilson Uwujaren, confirmed the arrest in a statement. He said the funds were allegedly laundered through real estate investments in Kano and Abuja. “The Commission’s verified intelligence showed that the AGF raked off the funds through bogus consultancies and other illegal activities using proxies, family members and close associates,” Uwujaren said. According to sources, after progress was made in the investigation, Idris was su...

12May

By Obiajulu Joel NwoluNo Comments

Education, Finance, News, Nigeria

Buhari Begs ASUU To Call Off Strike

ASUU Logo President Muhammadu Buhari on Thursday appealed to the Academic Staff Union of Universities to consider the plight of students and call off the ongoing strike. The President also urged students in Nigeria’s public tertiary institutions to exercise patience as the government strives to address the nagging issues in the nation’s university system within the ambit of the resources available. He made the appeal at the 19th National Productivity Day and the conferment of the National Productivity Order of Merit Award to 48 eminent Nigerians and organisations in both the public and private sectors, for their high productivity, hard work, and excellence. This was contained in a statement by his spokesman, Femi Adesina, titled, ‘At National Productivity Day Awards, Presiden...

Fund Varsities From N4tn Subsidy Budget, ASUU Tells FG

21Apr

By Obiajulu Joel NwoluNo Comments

Education, Finance, News, Nigeria

Fund Varsities From N4tn Subsidy Budget, ASUU Tells FG

ASUU The President, Academic Staff Union of Universities, Prof Emmanuel Osodeke, has accused the Federal Government of not giving priority to tertiary education. According to him, the government had addressed the issue of fuel subsidy with a budget of N4trillion, whereas, it ignored issues concerning university education. Speaking during a programme on Channels Television on Wednesday, Osodeke asked the government to take N200bn from the N4trillion budgeted for subsidy to address the challenges of its members, thereby putting an end to the industrial action embarked upon by the union. Osodeke said, “It is always funny that the government cannot raise N200bn to revamp all Nigeria’s universities annually, to world standards. The same government can raise N4trillion for fuel subs...

I Weep For Nigeria, SAN Faults Pardon Of Nyame, Dariye

16Apr

By Obiajulu Joel NwoluNo Comments

Corruption, Finance, News, Nigeria

I Weep For Nigeria, SAN Faults Pardon Of Nyame, Dariye

Justice A Senior Advocate of Nigeria, Jibrin Okutepa, has faulted the presidential pardon granted to former governors of Plateau State, Senator Joshua Dariye; and Taraba State, Rev Jolly Nyame. The lawyer noted that he wept after hearing that Dariye and Nyame were pardoned. The National Council of State had on Thursday endorsed the pardon of Dariye, Nyame and 157 other convicts following the recommendation of the Presidential Advisory Committee on the Prerogative of Mercy. The 12-member committee, inaugurated by the President, Major General Muhammadu Buhari (retd.), in 2018 is headed by the Minister of Justice and Attorney-General of the Federation, Abubakar Malami. Dariye and Nyame were jailed for stealing N1.16bn and N1.6bn, respectively. He wondered why the Presid...

FG Pardons Ex-Govs Dariye, Nyame Convicted For Stealing N2.7bn

15Apr

By Obiajulu Joel NwoluNo Comments

Finance, Judiciary, News, Nigeria

FG Pardons Ex-Govs Dariye, Nyame Convicted For Stealing N2.7bn

President Muhammadu Buhari The Council of State led by the President, Muhammadu Buhari, has approved the pardon of 159 convicts including a former Governor of Plateau State, Senator Joshua Dariye; and ex-Governor Jolly Nyame of Taraba State, who were both imprisoned for stealing N1.16bn and N1.6bn respectively. Confirming Dariye’s pardon, the Commissioner for Information, Dan Manjang, told The Punch that the ex-governor had been given a second chance. He added “Every Plateau man is happy about it and we give kudos to the President for honouring us in this manner .We want to also thank whoever that has a hand in making it happen because everybody makes mistakes and you can make errors while in governance. “As of today, he (Dariye ) has been given a reprieve as if nothing has ha...

FG Faults UTAS, ASUU Accuses Govt Of Misplaced Priority

15Apr

By Obiajulu Joel NwoluNo Comments

Education, Finance, Labour, News, Nigeria

FG Faults UTAS, ASUU Accuses Govt Of Misplaced Priority

ASUU Leadership The Federal Government has said the non-acceptance of the University Transparency and Accountability Solution by the National Information Technology Development Agency is not a tangible reason for the Academic Staff Union of Universities to embark on strike. Speaking in an interview with one of our correspondents, the Minister of State for Education, Mr Emeka Nwajiuba, said the priority of ASUU leaders should be the welfare of their members and not on the choice of payment platform that government should use. ASUU had declared that its ongoing strike would not be suspended until the government adopted UTAS as its payment platform, implemented the renegotiated agreement, and paid all outstanding allowances. But Nwajiuba said, “They are complaining about the IPPI...