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‘I know them’ – Makinde alleges , vows to recover looted Oyo’s funds by APC members

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The Oyo State governor, Mr. Seyi Makinde has vowed  that there would be no place to hide for looters of Oyo State’s funds.

The governor, who was speaking on Splash 105.5 FM programme, State Affairs, anchored by Edmond Obilo, said his administration remains determined to retrieve every kobo of the state’s resources allegedly stolen by some members of the immediate past administration of the All Progressives Congress (APC) in the state.

He noted that his administration has been able to bring about a turnaround in the infrastructure of the state and other key sectors because it blocked loopholes and wastages in resources.

A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, quoted the governor as saying that his government is on the track of some chieftains of the APC in the state, who used a certain company to siphon between N12 and N15 Billion of Oyo State’s money.

He added that the government would go after them and retrieve the looted funds for the people of Oyo State.

He maintained that his administration took the bold step of plugging every hole through which the state’s funds could be siphoned, adding: “Without blocking loopholes, we could not have been where we are today.”

Makinde added, “First, we did verification for the workers and ghost workers, ghost pensioners were removed from the payroll. They were there before we came in but we decided that, as an administration, we would not spend our time on chasing shadows.”

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Giving an example of how such loopholes bled the state in billions during the immediate past APC government, the governor revealed how about N8 Billion Paris Club refund was siphoned within eleven months.

He said: “Let me give you an example – when I came in, I looked at how some monies were spent and I believed it was Paris Club refund they moved, which was about N7 Billion to N8 Billion to OYSROMA. .

“This is an agency that operates normally on a budget of about N40 Million to N45 Million every month but this money came in around November 2017, and in early 2018, they started spending the money.

“When we came in, we discovered they finished spending the money within one year on nothing. They stole the money and I know those behind the stealing and I am also after them right now.

“There is a company called Chinese Global. They said they are Chinese people but we know the people behind it. The company has been shut down as we speak.

“I asked the General Manager in charge of OYSROMA and said, look, your budget is N44 Million every month and, in a year, it is less than N500 Million. Did you employ new people? He said no. Did you give out contracts? He said no. But how were you able to spend about N7 Billion in eleven months without employing new people?

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“But he said the company supplied asphalt. And I said if the company did, was the asphalt used to repair roads without employing new people and giving out contracts? He said the money was moved from OYSROMA to Chinese Global and two other companies without any supply from the companies.

“As a result of that, I wrote to EFCC and reported the matter about what we are facing here. “Chinese Global is also the company they awarded the Bembo-Apata road contract to, and the same company got the Ido-Eruwa project. But I said to them, ‘guys, you have Oyo State money with you. Go ahead and use the money to finish up the roads and they promised to do it.

” But as soon as former Governor Abiola Ajimobi passed on, they reneged on all those projects. “And I said, fine, for me, as long as you have Oyo State money with you, I will get it back and I am still saying it again that I will get back the money for our state.

“The money is in excess of N12 Billion to N15 Billion. Those who stole it are not Chinese but from Oyo State. “We know them, and very soon, wherever they have investment or property in the world, I will go after them and collect this money for our state.

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“This is a promise I made and I am not saying it outside of what I have discussed directly with the people involved. Oyo State’s money will come back. Those who stole the money are the members of the APC who were in the government then.”

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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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