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8th Assembly Frustrated Magu’s Appointment To Hide Skeleton In Their Cupboard – Alaafin

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The Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi III has attributed the failure of the last National Assembly to confirm the appointment of Ibrahim Magu as the substantive chairman of the Economic and Financial Crimes Commission, EFCC, as a way of hiding the ‘skeleton in their cupboard’.

The first class monarch made the declaration in his palace on Thursday, when the Ibadan Zonal Head of the Commission, Friday Ebelo, led a delegation to pay him a courtesy visit.

‘The eighth National Assembly tried, they did everything possible not to get (Ibrahim) Magu appointed. Why? It is because they have skeleton in their cupboard,” he declared.

While commending the efforts of the EFCC, Alaafin further noted that the recent stories of recovered stolen funds in local and foreign currencies attested to the efficacy of the Commission under the leadership of its current acting Chairman.

He added that the Commission deserved the cooperation of all well-meaning Nigerians who desire a greater days ahead for the country.

“We must encourage you. We must support you and cooperate with you, otherwise corruption will kill Nigeria.

“The fear of EFCC is leading some looters to several parts of the world. But you are after them. You are getting them. There is no hiding place for them.

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“Through you, I want to commend Ibrahim Magu for a job well done,” he said.
He described the institution of Alaafin as one that is dedicated to service to the people, adding that once an Alaafin is installed, he hardly has a private life.

“Once an Alaafin is appointed, he has very little private life of his own. The entirety of his life must be lived in the service of the people. That means the core values of Yoruba, the concept of Omoluabi are ingrained in this institution.

“It our duty as traditional rulers to ensure that the values and ethics of our system are taught to our children right from their young age so that they imbibe these things into their system. It becomes part and parcel of them. If children are taught from very impressionable age those ethical values of our system, they will take and observing them”.

The monarch urged all traditional rulers across the country to vigorously promote the culture and tradition of the people, saying the core values of honesty and hard work.

Earlier, Ebelo had told the monarch that the team’s visit was at the instance of the Commission’s acting Chairman, who, according to him, has decided to engage the traditional institutions across the country in the campaign against corruption in order to get the message down to the grassroots more effectively.

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“The EFCC Ibadan zonal office is visiting the Alaafin of Oyo on behalf of EFCC acting Chairman, Ibrahim Magu, to rally the traditional institutions’ support in the fight against corruption and other issues coming up in recent times. We now have cyber crime and internet-related frauds that youths of late are getting themselves involved in.

“We came to intimate him with this development and solicit his support so that he can use his exalted throne to get the message down to his subjects and other people.

“It is our duty to work hard and ensure a society where we can have the kind of the young ones we can all proud of.

“This is the kind of the enlightenment campaign the EFCC is embarking on aggressively. It is a fight that belongs to all of us. We are just in the forefront and we are privileged to be. We are the foot soldiers,” he said, adding that the EFCC acting Chairman will find time to visit the monarch personally soon.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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