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Rejoinder: Did Oyo Govt. Diverts World Bank Loans Meant for Ibadan Flood Control To Ogun State Bank Account 2 Weeks Ago?

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We had stumbled on a news piece with the above headline written by one Akin Ibrahimah and virally published in one Western Daily News on Tuesday, 11thOctober, 2022.  

In all candidness, our initial disposition was to ignore the report on account of its lack of substance, coherence and credibility, as it was easily given away as an ill-intentioned and poorly executed work of mischief by its gross grammatical incongruity, amongst other inconsistencies, starting with the headline. We, however, decided to issue this media statement for the sake of the well-meaning citizens of Oyo State, especially the keen stakeholders of the Ibadan Urban Flood Management Project (IUFMP) who see the Project as a veritable platform to secure their lives and livelihoods against the vagaries of perennial flooding in the city of Ibadan.

Now to the issues raised. First, the reporter claimed that “the World Bank about two weeks ago released another $25million for the continuation of the projects [IUFMP] for flood controls and damaged bridges across Ibadanland, part of which had been wired to an Ogun State Bank account for unknown reason.” While drawing down monies from the funder is an acceptable standard practice in the operations of projects fundedby multi-lateral agencies, it beats one’s imagination why a newspaper worth its name would not come up with details of the “Ogun State Bank account” where the money in question had been “wired.”

Anyone familiar with the Ibadan terrain would readily attest to the fact that in recent times, IUFMP has opened up some completed bridges and culverts to ease the movement of motorists, commuters and pedestrians. Some of the beneficiary-locations are Apete; Ajibode Road by NISER; Ladoke Akintola Road, New Bodija; Orogun-Agbowo Road; Adekile; Labo; and Barracks by Irepodun/Kajorepo Community off Ojoo Expressway. As at now, work is nearing completion at Akinwumi-Odewenwa by Ile Marun off Iwo Road and at Jerusalem Culvert along Ojoo – Arulogun Road.

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Beyond the above giant strides, the Project has been on an upward swing in delivering many more interventions, including bridges, culverts, channelization of rivers, etc. The “four Lots” that the ‘reporter’ cited in his piece have been awarded and the contractors are all geared to ramp up performance, more so as we gradually inch towards the construction-clement weather of the dry season. If, therefore, there is any reason to be “in the news again this week,” it should be for these transformative works that are either already being delivered or at varying stages of completion, rather than this distractive, deceptive and diversionary report, which is nothing but a lie from the pit of hell!    

As regards the second allegation that the “Labo bridge being done from the said loan, was criticized for lacking quality and the width needed to make the road motorists and commuters’ friendly,” this is evidently another hatchet job of an enemy of the people disguising as a friend. Labo Area near Oranyan in Ibadan South-East LGA is markedly a heavily built-up area in the heart of the sprawling city of Ibadan. Residents and commuters around the area know the extent and expanse of the road pre-intervention. Could it then be fathomed that IUFMP would do a bridge that would fall short of the existing one in terms of dimensions, scope and quality?

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Besides, IUFMP has a track record of delivering world-class bridges and culverts dating back to its inception. The evidences are visible for all to see across Ibadan Metropolis, from the bridges at Odo-Ona Elewe (Believer’s Stream) and Ogbere-Pegba in Oluyole LGA; to Ogbere-Moradeyo and Ebenezery Bridges in Egbeda LGA; to Shasha-Osajin and Ola-Adua Culverts in Ido LGA; to Abonde-Ogbere Bridge in Ona Ara LGA to Isokun Culvert in Akinyele LGA. The rehabilitated Eleyele Dam is a spectacle to behold. All these and our ongoing interventions are done to international specifications and best practices, which are a product of serious-minded hydrological, hydrographical and engineering studies. The Labo Bridge is no exception to these standards.

On a final note, one cannot but wonder what the author of this campaign of calumny was all out to achievewith his copious and excessive reference in his write-up to the Abiola Ajimobi administration as the proponent of IUFMP. If anything, this clearly gives away his motive as an agent of some politically acrimonious fellows with an intent to hit below the belt. Without necessarily usurping the roles of the spokespersons of His Excellency Engr. Seyi Makinde, the Governor of Oyo State, we think he deserves accolades, rather than flaks, for deciding to continue all the well-intentioned projects and programmes of Oyo State, regardless of who initiated them, in the overall best interest of the State. Oyo State has since started reaping the benefits of many of these interventions, which marks out His Excellency as someone who does not see position of authority only in the currency and colours of politics, but development of and to the people.

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We, therefore, do hope that this writer and his ilk would desist from this tendency to cry wolf when there is none, and allow IUFMP and indeed the Oyo State Government concentrate on the all-important task of making life more abundant and meaningful for the good people of Oyo State.      

e-Signed:

Abiodun Adefioye

Communication Consultant, IUFMP

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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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