N100bn Bond: Adelabu Out To Play Cheap Politics- Makinde's Aide

The Chief Press Secretary to Governor Seyi Makinde of Oyo State, Mr. Taiwo Adisa, has asked the governorship candidate of the All Progressives Congress (APC) in the 2019 election, Mr. Adebayo Adelabu, to rise above cheap politics in his criticisms of the state’s Prosperity Bond unveiled last Wednesday.

Adisa, in a statement made available to newsmen in Ibadan, declared that the former Deputy Governor of the Central Bank of Nigeria (CBN) has a duty to the people of Oyo State and Nigerians in general to make sound inputs into economic debates and justify that he truly merited a seat at the apogee of the Nigerian Financial sector, where he once sat as Deputy Governor of the Central Bank of Nigeria (CBN).

The media aide to the governor also maintained that the terms that will be agreed to by the state, whenever discussions on the Bond issuance begin, will protect the interest of Oyo State people, as Governor Makinde has continued to show that the protecting the interest of Oyo State and lifting it from poverty to prosperity have remained his greatest goals.

The statement read: “The announcement by the Oyo State government on the issuance of a N100 Billion Bond tagged Prosperity Bond, has generated several reactions especially from the opposition. While one would not expect some members of the APC in Oyo State to see anything good with the development, it has become imperative to react to some of the inane ideas being passed off as sound economic commentaries. This becomes particularly important, seeing how the governorship candidate of the APC in the 2019 election, Mr. Adebayo Adelabu, ran amok with imbalanced economic analyses on the matter in order to score cheap political points.

"We will like to state clearly to the right-thinking members of the society that in coming to terms with the need to opt for the Prosperity Bond, Governor Makinde is being guided by sound logic and scientific analyses that originate from unbiased quarters.

“For the avoidance of doubt, the 21 km Ajia-New Ife Express Road project with spur at Amuloko being constructed under the Alternative Project Funding Approach (APFA), a Design, Build, Finance project, at a total cost of N8.5 bn cannot be equated to the moribund and revoked Moniya-Iseyin road project awarded under the administration of the late Governor Abiola Ajimobi.

“The Ajia-Airport project is a Public, Private, Partnership (PPP) project which will benefit from private funds. Rather, the investor has taken the risk of tying his funds to that project because of his firm belief in the economic recovery efforts of Governor Makinde.

“It would be recalled that the failed N7 billion road contract awarded under the immediate past administration in Oyo State was never meant to be executed (as it was merely a job for the boys) targeted at raising funds for the 2019 electiion. It unsurprisingly failed to really take off and Governor Makinde was left with no other option than to revoke the contract, review, upgrade and eventually re-award it to a more competent contractor who is presently on site.

“The Ajia-Airport Road project is not only a well-thought out  project but one that will signpost the determination of the administration in institutionalising the culture of Public, Private Partnership as  exemplified in the establishment of the high-riding Oyo State Investment and Public, Private Partnership Agency (OYSIPPPA), which is already recording huge successes in its pioneering deals.  

 

“It is also to be noted that the decision to turn around the corridors of Ibadan Dry Port, upgrade the Ibadan Airport and construct Iseyin/Ogbomoso road, which form the components of the Bond are clear measures targeted at expanding the economy of the state in line with the administration’s four point service agenda.

“Only a forward-looking government in Oyo State will take proactive steps to guarantee that the state’s economy takes full advantage of the benefits of the upcoming Ibadan Dry Port project, while also seeking to expand its economy via an improved Ibadan Airport.

“With improved facilities at the Ibadan Airport, Oyo State would certainly stand to benefit from the traffic and congestion challenges that are already the permanent feature of Lagos travels. Air travellers around the Western states would easily land in Ibadan, while international conferences can hold without the conferees struggling through the sea of traffic from Lagos Airport.

“We envisaged no fears of a possibility of debt overhang in this case, because the projects are bound to bring unquantifiable returns beyond mere arithmetic projections.

“The people of Oyo State are, however, reassured that their interests will never be circumvented in negotiating the terms of this Bond. They are equally free to monitor every inch of the execution process in line with the policy of transparency and accountability of the Makinde-led administration.”

Adisa, who called on residents of the state to discountenance warped analyses being put out by APC members, especially its governorship candidate, said: “It is clearly preposterous for Adelebu, who prides himself as an economist, to jump into questions of tenor of the Bond, when the process is only just kickstarting.

“It is, indeed, an insult on the integrity of the Nigerian apex bank for any of its former top officials to be seen as speaking like a layman in monetary terms, rather than an expert whose opinions should stand the test of national and international financial debates.

“It is instructive that Mr. Adelabu criticised the key components of the Prosperity Bond including the decision to expend a portion of the proposed bond on the expansion of the Ibadan Airport, the Construction of the light rail corridor and the Ibadan Circular road project.

“However, the criticisms coming from Adelebu did not come as a surprise, because he has shown over time that he lacks ideas that are capable of engineering shared prosperity even in a state like Oyo.

“Whereas the concern of Engineer Seyi Makinde as an aspirant, a candidate and governor has been the desire for general good and welfare of all, the same cannot be said of his opponent in the 2019 election, whose mindless capitalist tendencies have completely blindfolded him towards public good.

“Let us place on record that Governor Seyi Makinde is unmoved by the pedestrian analyses contained in the statement credited to Mr. Adelabu, since such base comments do not resonate with national and international economic realities.

“Whereas, the Federal Government of Nigeria has made the issuance of Bonds an integral part of the economic rejuvenation agenda in the past years, a self-styled economist in the mould of Adelabu is sitting across the table to raise hell against Oyo State’s decision to utilise that same instrument.

“His efforts in this regard are easy to discern; they are based on half-baked theories, deceptive and unconscionable. If Bonds are toxic, why did Adelabu not advise Nigeria and President Muhammadu Buhari? Why would he hide under unknown banners to make postulations that don’t edify the fact that he once sat at the boardrooms of the Central Bank of Nigeria? Certainly, the nation expects much more than this letdown from Adelabu."

NDDC Fraud: Akpabio Releases Names of Lawmakers Involved

Responding to the 48 hours ultimatum given him by Hon. Femi Gbajabiamila-led House of Representatives, the former governor of Akwa Ibom State and the Minister of Niger Delta Affairs, Senator Godswill Akpabio has released the list of lawmakers involved in the alleged fraud in the Niger Delta Development Commission (NDDC). 

 

This is sequel to the letter Akpabio had earlier sent to the National Assembly that, he did not accuse the lawmakers of receiving 60 percent of the contracts at NDDC.

However, the part where the minister stated the names were not read on the floor of the house but were in the letter forwarded by the minister to the National Assembly.

The National Youth Council of Nigeria who released the document to the public in Abuja on Sunday expressed disappointment that the Speaker of the House of Representatives, Femi Gbajabiamila, refused to disclose the list of federal lawmakers who benefitted from the contracts awarded by the (NDDC).

According to the document, Akpabio listed Nwaoboshi’s name against 53 projects which included, Emergency Repairs of Asue Street, Owa Phase 2, Emergency Repairs of ldumuogbe Road via Ojemaye, Emergency Repairs of Otolokpo College Road, Otololkpo, and Emergency Repairs of Police lshu Ani Ukwu Road, Issele Uku.

“They also included Emergency Repairs of old Sapele Agbor Road, Obiaruku, Emergency Repairs of Ehwerhe Obada Road Agbarho Road, Emergency Repairs of Hon. Ifeanyi Eboigbe Street Boji Boji Owa/Goodwill Street, Owa Alero, and Emergency Repairs of Ahiama Okwu to Obuocha Okwu among others.”

“Also the Minister listed Mutu’s name against 74 projects which included various emergency road projects in Delta, Akwa Ibom, Bayelsa, and Rivers states.”

“Other lawmakers that Akpabio listed projects against are, Senator Mathew Urhoghide (6), James Manager (6), Sam Anyanwu (19), and others simply identified as Ondo and Edo reps.”

The President of the council, Solomon Adodo, while speaking with newsmen on Sunday said, “Mr Speaker did not do us justice when he did not disclose to the National Assembly that the list of the beneficiaries he demanded had been disclosed and attached to the letter sent to him.”

“Gbajabiamila’s decision to cover up his colleagues is unfair to the fight against corruption, quest for transparency, and to the commonwealth of our nation.”

“We, therefore, urge Mr Speaker, Femi Gbajabiamila, to resign for covering up for a set of people who had erred and breached the rules of the contract.”

“All the National Assembly members who benefitted from the contracts without executing them should be prosecuted to serve as a deterrent to those who may want to follow a similar path.”

“It is a clear case of organised crime to have individuals who benefitted from illegality now rising to probe the fact that their illegality is being exposed.”

We call on all the anti-graft agencies and security agencies to, in line with the directive of President Muhammadu Buhari, immediately proceed and go ahead with their investigation of the matter.”

The group noted that they are in full support of the forensic audit instituted by the Ministry of Niger Delta Affairs because it had exposed those who had benefitted in the corruption that had festered in the NDDC.

In the document displayed by the Youths Council, Akpabio was quoted as having said that his letter became necessary because “the investigating Committee on NDDC refused and/or neglected to give me the opportunity to explain that reference to most NDDC contracts yearly being awarded since 2001 from the records allegedly to members of the National Assembly in both Chambers were done without the knowledge of the alleged beneficiaries.”

“However, the two chairmen of the Committees in both Chambers had adequate knowledge,” Akpabio reportedly stated.

Akpabio’s letter as released by the Youth Council further read: “To show you some typical examples, herewith attached are documents showing nature of contracts amount of such contracts (in some cases), date of awards and beneficiaries some were awarded to the two chairmen of both committees in the House of Representatives and the Senate, respectively, serving at the period of the awards (Annexures ‘B’, ‘C’ and ‘D’).”

The council condemned the Minister for sending the letter to the National Assembly and not making the document forwarded to the house public.

The contracts were mainly for road construction, reconstruction rehabilitation within the nine Niger Delta States.

Akpabio letter which was also copied to the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, read in part: “May I extend to Mr Speaker the compliments of my office and those of the staff of the Ministry of Niger Delta Affairs.”

“I refer to the resolution of the House passed on the 21st July 2020 and forwarded to me on the same day Ref.NASS/HR/LEG/3/36/VOL.ll/O8 directing me to respond to the contents therein within 48″

“The investigating Committee on NDDC refused and/or neglected to give me the opportunity to explain that reference to most NDDC contracts yearly being awarded since 2001 from the records allegedly to members of the National Assembly in both Chambers were done without the knowledge of the alleged beneficiaries. However, the two chairmen of the Committees in both Chambers had adequate knowledge.”

“I never referred to members of the 9th National Assembly as beneficiaries of NDDC contracts as NDDC is yet to fully implement any NDDC budget since the commencement of the 9th National Assembly. In fact. the 2019 budget passed in February and harmonised between the 4th and 5th of March 2020 was received by the Commission in the middle of April, 2020, when same was designated to expire on the 31st of May, 2020.”

However, it is pertinent to point out that the Clerk of the National Assembly forwarded a letter Ref. NASS/CNA/115/VOL.38/1175, dated 20th March 2020, without attaching the budget details indicating that the 2020 budget of the NDDC passed into Law was being forwarded (copy of the letter is attached as Annexure ‘A’). This anomaly was brought to the attention of the Senate Ad Hoc Committee investigating a purported financial recklessness by the management of the commission in July 2020, though the first outcry was on allegation of missing N40bn which was totally untrue.”

“It has always been known that the two chairmen of the committees on NDDC in both chambers yearly exhibit unusual influence to the exclusion of committee members and even the management of the NDDC in appropriating funds to details embellished in the budget after the passage of line items at the plenaries. In the 2019 budget, the Executive Director Projects forwarded to me the attached list of 19 Nos. old contracts amounting to almost N9bn after tax, that the House of Representatives Committee Chairman on NDDC, Honourable Tunji-Ojo, insisted the IMC of NDDC must pay before 2019 budget details could be released to the commission (see Annexure ‘A1’).”

“To show you some typical examples, herewith attached are documents showing nature of contracts amount of such contracts (in some cases), date of awards and beneficiaries some were awarded to the two chairmen of both committees in the House of Representatives and the Senate, respectively, serving at the period of the awards (Annexures ‘B’, ‘C’ and ‘D’). However, due to the 48 hours notice, the forensic auditors could not sift through the thousands of files in their possession to provide more.”

“The above explanation would have been made if the investigating committee did not shut me out from responding to the abuses on me by the lady representative called Boma.”

“May I assure Mr Speaker that as a former Minority Leader of the 8th Senate of the Federal Republic of Nigeria. I shall forever promote the ideals of the. National Assembly as an institution. Hence. I would not make the attached documents public since I obtained the documents from the lead forensic auditors in confidence (find attached Annexures ‘E’ and ‘F’ is my request to the lead forensic auditors and their response).”

“Permit me to explain that any reference to 50 per cent or 60 per cent during the investigative hearing was in answer to a question by an honourable member of the committee as to whether or not, a medical doctor could act as Executive Director Projects within the confines of the NDDC Act 2000. I answered in the affirmative, pointing out that the greatest project in the world today is COVlD-19 pandemic, which is medical in nature.

Furthermore, I am made to understand that 50 to 60 per cent of NDDC yearly budgets are medical in nature. Therefore, it is fitting for a medical doctor to act as Executive Director Projects in these trying times.”

“Please accept, sir, the assurances of my esteemed regards and do pass my explanation to my colleagues in the 9th Assembly who probably misunderstood my assertion.

Credit: Mouthpiece NGR

House of Reps Raises Alarm Over 80,000 Stranded Nigerians Abroad

The Chairman, House of Representatives’ Committee on Diaspora, Hon. Tolu Akande-Sadipe K on Thursday said about eighty thousand Nigerians are currently held as sex slaves and in forced labour across the world, in countries like Lebanon, Mali and across the Middle East.

Akande Sadipe who said this during plenary in Abuja, condemned the complacency of Ministries of Foreign Affairs, Labour and Employment, which has subjected young Nigerian girls to modern-day slavery, sexual exploitation and organ harvesting among other ills.

Mrs. Sadipe also noted that the Federal Ministry of Foreign Affairs, under the guise of diplomacy is working towards the release a Lebanese trafficker, Wafic Mohammed Hamze, apprehended by National Agency for the Prohibition of Trafficking in Persons who is complicit in the trafficking of sixteen girls to Lebanon.

She said, “Records show that Wafic Hamza was complicit in the trafficking of 16 girls, 10 of which have been repatriated back to Nigeria whilst 6 remain stranded in Lebanon. Hamze is currently in custody in Ilorin, Kwara State awaiting trial for trafficking but it appears that the Ministry of Foreign Affairs under the guise of diplomacy is working for the release of the said trafficker, without any regard for our citizens losses, their repatriation back home and compensation”.

In addition, Hon. Sadipe decried the unprecedented rise in the abuse and dehumanization of Nigerians abroad, especially in nations with long history of cordial relationship with Nigeria. 

“The current and ongoing sordid dehumanizing treatments foisted on Nigerians abroad particularly trafficked girls under the cover of foreign domestic staff has become very disturbing. According to the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), in the past one year, there has been an alarming number of daily distress calls from Nigerian women crying to be rescued due to the inhumane conditions they face in various parts of the Middle Eastern countries like Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Egypt, Oman and Lebanon and Mali (with Lebanon, Oman and Mali being top on the list)”, she said.

In the motion she raised as a matter of Urgent Public importance, Hon. Tolu Akande-Sadipe opined that there is a pressing need for Parliamentary intervention in the eradication of trafficking in Persons, the resultant dehumanizing treatment of Nigerians abroad and the repatriation of our stranded citizens.

Hon. Tolulope Akande, also noted that there are some Nigerian students in Turkey, who want to return home but cannot afford the cost of the evacuation flight, and as a result are stuck in Turkey experiencing undue hardship.

She therefore urged the House to compel the Ministry of Foreign Affairs to negotiate affordable evacuation flights for Nigerians in the diaspora

She further prayed that the House mandates the Ministry of Foreign Affairs, Ministry of Justice, Ministry of Labour and Employment, Nigerian Immigration Service and the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) to initiate the process of preparing a Bilateral Labour Agreement and Standard Operating Procedure (SOP) for recruitment of Nigerians for unskilled labour employment in foreign lands.

In addition Akande-Sadipe implored President Muhammed Buhari to ensure that necessary disciplinary measure is meted on the Hon. Minister and Permanent Secretary of the Federal Ministry of Labour and Employment for violating its suspension on the issuance of International Recruiters Licenses and issuance of licenses to non compliant Companies.

She stressed that despite that these companies were in violation of the federal government procurement and service provision procedures and standard requirements, they were excused from the mandatory annual reporting requirements on location and conditions of service of each recruited Nigerian taken abroad.

Akande-Sadipe noted that the Ministry obstructed the House's Committee on Diaspora in its attempt to carry out its official mandate by its refusal to submit documentation and lying under oath.

Details Of Late Ibadan Businessman, Bode Akindele's Burial Ceremony

The family of the late Ibadan-born business tycoon, Sir (Chief) Bode Akindele has released how their patriarch will be buried.

As expected, the grand and befitting burial ceremony is going to be 4-day events.

According to the outlined programs by the family, the funeral proceedings will commence in Lagos State on Tuesday 28 July, 2020, with a Commendation Service, at Hoaros Memorial Methodist Cathedral, Yana, Lagos.

By Wednesday 29 July, 2020, there is going to be Evening of Songs/Evening of Tributes, at the deceased's Ibadan residence, Ibiyemi Villa, Old Standard Breweries, Alomaja, Ibadan.

On Thursday 30 July, 2020, Lining in State and Christian Wake will hold between 12noon-3pm and 4pm-6pm, respectively.

The Funeral Service however comes up on Friday 31st July, 2020, at the historic Methodist Cathedral, Agbeni, Ibadan, between 10am-11am. After which the remains of the deceased will be committed to mother earth.

All the programs, according to Akindele family, are strictly by invitation and will be held in accordance with COVID-19 guidelines. Those who may want to participate are therefore advised to do so by joining online, as there will be live streaming of all the programs.

Sir (Chief) Bode Akindele, it would be recalled, died on Monday 29th June, 2020, at the ripe age of 87.

Akindele, a well know business tycoon of international repute, was the Chairman, Mondandola Group and the Baba Ijo, Methodist Church, Agbeni, Ibadan. He was also the Parakoyi of Ibadanland.

He was not only a successful businessman, but also a philanthropist of note and a community builder.