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INEC gets ultimatum to probe Saraki’s spendings on Buhari, APC campaigns in 2015

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Socio-Economic Rights and Accountability Project (SERAP), has sent an open letter to Prof. Mahmood Yakubu, Chairman Independent National Electoral Commission (INEC), requesting him to “promptly, thoroughly and effectively investigate allegation that Senate President Bukola Saraki spent between N200m and N400m in every state, except the six South-West states, to influence the outcome of the 2015 elections for the All Progressives Congress (APC).”

The organization also urged INEC to investigate the sources of other cases of apparently unexplained campaign financing and contributions for the 2015 elections by politicians and supporters of the two main political parties that is, the APC and the Peoples Democratic Party (PDP).

It urged INEC to collaborate with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) in any such investigation.

Saraki allegedly said in a leaked audio: “Out of the 36 states, I paid election money in 30. Some collected N300m, while some collected N400m, some collected N200m. The only states where I had nothing to do with was in the South-West. Even on the phone, I was calling and giving banks instructions.”

SERAP in the letter dated 17 November 2018 and signed by its senior legal adviser Bamisope Adeyanju, said: “Allegation that one politician spent billions of Naira on elections in several states of the country to support a political party if not thoroughly, and transparently investigated and prosecuted would undermine the public faith in the country’s democracy. It also risks distorting electoral processes and reversing the gains in the democratic and electoral processes that have been recorded since the return of democracy in 1999.

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The organization also said: “Such spending if allowed to continue can shape policy-making after elections, and improperly influence the decisions taken by the country’s elected representatives who will most likely consider their contributions to political parties’ campaign as ‘investment’ and thus seek returns on their purported investment to achieve electoral success for their party.”

According to the organization: “Probing the sources of such spending would improve transparency and accountability in campaign spending and contributions. This is essential to curb abuse and mismanagement of Nigeria’s resources, help to balance political competition, foster the integrity of officeholders, rebuild citizens’ trust in the political system’s integrity, as well as ensure that electoral processes and elected officials are not compromised by uncontrolled and unaccountable campaign funding.”

The letter copied to Ibrahim Mustafa Magu, Acting Chairman EFCC; Dr. Musa Usman Abubakar, Acting Chairman, ICPC; and Professor Itse Sagay, Chairman, Presidential Advisory Committee Against Corruption (PACAC) read in part: “Unexplained and unregulated spending to influence the outcome of any election can distort the electoral competition and lead to state capture by wealthy politicians and individuals.

“SERAP urges you to prosecute anyone suspected to be involved and/or complicit in the alleged unexplained campaign spending, if there is relevant and sufficient admissible evidence of violations of international standards and national laws. We request that you take steps within 14 days of the receipt and/or publication of this letter, failing which SERAP will institute legal proceedings to compel you and the INEC to discharge your constitutional and statutory responsibilities in the public interest.

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“Unexplained and unregulated spending on election campaign would encourage politicians to divert public resources for political purposes rather than ensuring and directing critical spending for socio-economic development of the country, including on improving access to public services such as electricity, health, water, and education.

“Campaign financing such as the spending allegedly disclosed by the Senate president undermines public trust and confidence in politicians and poses serious corruption risks, as it can blur the line between state and party politics, encourage the use of national resources to fund and influence elections. Such huge spending by an individual can even be converted into a conduit for money laundering.

“SERAP urges you to publicly clarify to politicians and political parties ceilings for campaign spending and contributions, and to insist that all political parties and politicians disclose sources of their spending for the 2019 elections. INEC should also require all political parties to sign ‘transparency pacts’ that would mandate candidates and their sponsors to disclose the identities of donors and publish all spending and contributions on their party website and in the press before the 2019 elections.

“SERAP, therefore, urges you to investigate the sources of campaign financing and contributions by Saraki and by other politicians and other individuals to APC and PDP if INEC is ever to rein in the role of money and level the playing field for candidates and political parties in the 2019 general elections”.

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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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