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Ex-Minister tackles Tinubu’s campaign team over Oriental Hotel claim September 7, 2022

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FORMER Minister of Communication, Maj. Gen. Tajudeen Olanrewaju (retd), yesterday, faulted the claim by the Presidential campaign team of the All Progressives Congress, APC, that the parcel of land on which Oriental Hotel is located along the Lekki-Epe Expressway, was a dump site describing the claim as blatant lies.

The APC Presidential candidate, Bola Tinubu, in a documentary packaged by his campaign team, capturing his achievements as Lagos State Governor, had said: “I brought private investors, hospitality- they created the boat club, the Civic Center that is of great value to many people today-that was a refuse dump.

“Nobody would easily remember that Oriental Hotel was a refuse dump— a mile of refuse along that corridor. It took several months of escalating and a great investment for those investors to take the risk. The majority of those assets they claim are mine are not mine.”

But faulting the claim, the former Minister, in a statement, said that the part of the land upon which Oriental Hotel is located was allocated to a company called Kembu by the Federal Government.

The statement reads: “I will not indulge myself in the ownership of the Oriental Hotel located along the Lekki Road axis. But it would be of interest to the public that the part of the land upon which the property is located was allocated to a company called Kembu by the Federal Government.

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“I acknowledge an intimate relationship with this company. I’m still in possession of the Certificate of Occupancy issued to Kembu by the federal government. It is the lack of respect for the law by the lagos State authority that deprived Kembu of the property. It is simply a land grab.

“It is a law long gazetted by the federal government that 100 meters to the shore line is a federal controlled asset. This still subsists.

He explained further that the Maroko land improvement Scheme was a project started and completed by Brig. Gen. Raji Rasaki and further improved by Military Administrators who took control of the State after his administration.

According to him, it was the first civilian governor of the state, late Lateef Jakande, who had actually opened up the Lekki peninsula “when he broke through the forests and the swamps with his road-building crew, erecting first class roads from Ozumba Mbadiwe to the fringes of Epe, thereby opening up the Eastern corridor of Lagos state. Gbolahan Mudashiru, the military Administrator who succeeded him, pushed the construction to Epe.

He said: “Of course, as the governor of the State from 1999 to 2007, the administration of Bola Tinubu added one lane to the existing two and erected a toll gate to generate revenues.

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“The general upgrades that attend the continuous service improvement on the Lekki & Eastern Corridor is a combined effort, which has evolved over time and leaders at every stage of their engagement have added value to the Lekki peninsula.”

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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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