News
Mainagate: AGF Malami reveals masterminds, beneficiaries of pension fund
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has alleged that masterminds and beneficiaries of the looted pension fund were after him.
He said highly placed retired and current political office holders and serving senior civil servants were involved in pension fraud.
Malami is currently being probed by the Senate for the recall and reinstatement of wanted pension fraud suspect, Abdulrasheed Maina.
He said those involved in the multi-million pension fraud were behind the ferocious media onslaught against him and his office.
The Attorney General said this when he spoke with Vanguard yesterday, adding that he was convinced that the aim of the attacks was to force him to discontinue the prosecution of the high-profile looters of pension fund to the tune of N14.3 billion.
The minister disclosed that a highly organised pension fraud syndicate exists in Nigeria.
Malami said, “Let me state, however, that a barrage of organised and coordinated media attacks against the office of the Attorney-General of the Federation can best be appreciated not from exclusive point of reinstatement of Maina but from a larger perspective of pension fraud syndicate and their antics over time to suppress any attempts at associated investigations.
“The fact, however, is indisputable that there exists a pension fund fraud syndicate in Nigeria. The syndicate includes highly placed retired and current political office holders and retired and serving senior civil servants.
“The fraud permeates the following institutions: NITEL pension, NIPOST pension, NEPA pension, Nigeria Railway pension, NPA pension and NNPC pension.
“The Office of the Head of Service of the Federation, as at 2014, usually presented 258,000 persons for payment per month whereas the actual figure was 141,762. The differential is 116,238 ghost pensioners. There are 66 illegal accounts being used in perpetrating pension fraud.
“The breakdown of the amount established to have been stolen and laundered through the pension scheme and the modus operandi through which the proceeds were stolen and laundered from 2008 to 2013 is as follows: Fictitious contracts N5,761,150,608.44; Ghost pensioners, N829,902,260.40; Collective allowances, N1,365,821,942.91; Payments to States Pension Boards and others, N4,192,825,310; National Union of Pensioners, N2,290,593,322; and Association of Federal Civil Service Retirees, N253,390,300, totalling N14,374,236,846.09.
“Pension fraud was perpetrated by public officials to siphon humongous amounts in conjunction with, and with the active connivance of the Nigerian Union of Pensioners, NUP, Director of Pension Accounts, State Pension Boards, and Association of Federal Public Service Retirees, among others. Proceeds of the fraud are usually shared among the members of the syndicate.
“Mr. Maina has been part of this syndicate but things fell apart between him and the syndicate and he left the shores of Nigeria upon alleged threat to his life.
“It may interest Nigerians to know that the Federal Government of Nigeria had from 2008 to 2013 made sizeable recoveries of stolen pension funds. The position of these recoveries needs to be verified.
“What happened to the monies recovered from the syndicate? What about the 270 property, comprising real estate and motor vehicles? This is what the syndicate is labouring hard to cover up using media hype against anyone that has shown interest in lifting the veil.
“In case you are interested in having the breakdown of the recoveries, please find them listed here below: N2,800,000,000, $3,000,000, 3,500 euro, N16,185,131,847.09k through the OHCSF Pension Account No: 0023682604 domiciled with Union Bank Plc and over 270 property and motor vehicles.
‘’There are 12 criminal charges bordering on variants of financial crimes currently pending at different courts, with an aggregate value of N14.3 billion.
“The on-going cases are being continuously compromised by the powerful syndicate. Senior lawyers were being withdrawn from the prosecution of these cases and very junior lawyers were assigned to handle them.
“The intention was always to slow down the progress of the cases and turn back the hands of the clock both in terms of speed and sustenance of the coordinated memory. Principal actors in the syndicate were left off the hook and never charged while the low profile actors are left to their fate standing trial.”
News
NCAA Sanctions Five Airlines Over Regulatory Breaches
The Nigeria Civil Aviation Authority (NCAA) has initiated enforcement action against five airlines—two international and three domestic operators—for various violations of its regulations under Part 19.
The offenses include non-payment of passenger refunds within the stipulated timeframe, non-responsiveness to NCAA directives, mishandling of luggage, short-landed baggage, delayed and canceled flights, among other infractions.
Addressing journalists at the NCAA’s corporate headquarters in Abuja on Tuesday, Michael Achimugu, the Authority’s spokesman, stated that airlines must adhere to regulations regarding flight disruptions. He emphasized that failure to comply attracts sanctions.
“Although airlines are not always responsible for flight disruptions, NCAA regulations stipulate actions that airlines must take during such incidents. Failure to comply attracts various levels of sanctions,” Achimugu said.
He reminded airlines of the NCAA’s recent directive mandating refunds to passengers within 14 days for online ticket purchases and immediate cash refunds for tickets bought with cash.
The yuletide season has seen a rise in passenger complaints about delays and cancellations, largely attributed to harmattan-induced poor visibility. Achimugu clarified that airlines are not liable for cancellations due to force majeure but stressed that the enforcement actions are for cases where airlines are found at fault.
“This is harmattan season, so there is poor visibility. Flights must get canceled. This is force majeure, and the airlines do not owe passengers anything in those instances. The enforcement we are initiating today is on cases where the airline is deemed to have been at fault. More will come,” he explained.
Achimugu further disclosed that the NCAA would summon the chief executives of all airlines this week to address flight disruptions and regulatory breaches.
While the names of the sanctioned airlines were not officially revealed, sources close to the Authority identified them as Ethiopian Airways, Royal Maroc Airways, Arik Air, Aero Contractors, and Air Peace.
News
FG Targets 15m Households for Conditional Cash Transfer Scheme
The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Nentawe Yilwatda, has announced the Federal Government’s plan to reach 15 million households, representing 75 million people, through its conditional cash transfer scheme.
Speaking on Monday during an interview on Channels Television’s The Morning Brief, Yilwatda explained that the initiative is part of President Bola Tinubu’s commitment to mitigating the economic hardships faced by vulnerable Nigerians.
“The president was so specific,” Yilwatda noted.
“There are policies that he brought in to see if that can ease those challenges for people at the lower end of the pyramid. One of those policies is to reach out to 15 million beneficiaries under the conditional cash transfer, targeting households rather than individuals. Each household will receive ₦25,000 monthly, paid three times a year.”
Yilwatda further clarified that the 15 million households being targeted translate to 75 million Nigerians, assuming an average of five persons per household.
So far, the Federal Government has reached five million individuals but is facing challenges in fully sanitizing the social register, particularly with the implementation of the Central Bank of Nigeria’s (CBN) policy mandating digital identities for transparency and traceability of payments.
“Currently, only 1.4 million people on the social register have digital identities. Many of those we are targeting are outside the formal banking system,” the minister disclosed.
Yilwatda emphasized that women are specifically targeted as household leaders under the program to ensure the funds are used effectively for the benefit of children and other vulnerable members of society.
The conditional cash transfer programme, which is administered under the National Social Investment Programme, had earlier been suspended by President Tinubu in January due to allegations of corruption. However, the scheme was reinstated in February, with plans to extend the initiative to an additional 12 million households.
News
Fuel Price Relief: PETROAN Promises Pump Price Drop This Week
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has assured Nigerians of a reduction in the pump price of petrol within the week, following adjustments to the ex-depot price by key players in the industry.
Last week, the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery announced a reduction in the ex-depot price of petrol to ₦899 per litre in Lagos. Despite this, the pump price at many filling stations across the country has remained unchanged.
However, PETROAN President, Billy Gilly-Harry, during a Monday appearance on Channels Television’s Sunrise Daily, expressed optimism that the price change would soon reflect in retail outlets.
“But I believe from today when members start loading from both NNPC and Dangote at this new price reduction, it will reflect in the market,” he said.
Gilly-Harry lauded some members of PETROAN, particularly in Abuja, for proactively reducing their pump prices to below ₦1,000 even before the official announcement. He emphasized that while members strive to serve Nigerians by providing affordable fuel, they must maintain marginal profitability to sustain operations.
“We don’t encourage our members to try to sell products at a loss because our focus is to serve Nigerians. And the only way we can serve Nigerians is when we have the resources to do so. The resources can only be there if we’re making marginal profit enough to pay for the cost of money and ensure continuity in business,” he noted.
Addressing concerns over the delay in implementing the price reduction, Gilly-Harry explained that some retailers are still selling old stock purchased at higher prices.
“This reduction, if you apply it immediately, don’t forget that some of them bought at ₦970, paid transportation costs and logistics that have taken it quite high,” he said. “By the time it gets to their retail outlets, it’s quite much more than that. And so they must also sell at a profit – minimal marginal profit as provisioned by the PIA. So, that’s the reason.”
The PETROAN boss commended both the NNPCL and Dangote Refinery for their efforts in reducing the ex-depot price, which he described as a significant step toward easing the burden on Nigerians.
Nigerians are now hopeful that the price adjustment will translate into tangible relief at filling stations in the coming days.
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