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Sagay: Bank chiefs aiding corruption should face trial
The Presidential Advisory Committee Against Corruption (PACAC) will push for the prosecution of bank chiefs who connive with looters to hide stolen funds, its chairman, Prof Itse Sagay (SAN), said yesterday.
According to him, the “monstrous epidemic of high profile corruption” could not have afflicted Nigeria without bankers’ collusion.
They must not get away with it, Sagay said.
“In my own little way, we are going to push for the prosecution of such bank chiefs. They must be prosecuted,” he said.
Sagay said the legislature, senior lawyers, especially Senior Advocates of Nigeria (SANs), and some “hostile and powerful judges” work against efforts to rid the country of corruption.
“There is a gang-up of the of the powerful political, business and banking elite that is determined to frustrate the anti-corruption struggle,” he said.
The PACAC chairman delivered a public lecture in Lagos on the topic: The many afflictions of anti-corruption crusade in Nigeria. It was organised by the Nigerian Society of International Law.
Sagay said the National Assembly was made up of self-serving lawmakers who allocated N125billion to themselves alone this year.
He said while the United States President earns $400,000 per annum, a Nigerian senator earns over $1.7million.
Sagay said apart from a basic salary of N2.4million per month, they earned allowances, such as hardship (50 per cent of basic salary), newspaper allowance (50 per cent), wardrobe allowance (25 per cent), entertainment (30 per cent), recess (10 per cent) and leave (10 per cent), among others.
The total allowances, he said, amounts to N29.5million per month and N3.2billion per annum.
“Perhaps the most notorious example of the legislators’ resistance to the war against corruption is the rejection of the right of the executive to choose the persons who will spearhead that struggle.
“The clear impression is created that Nigerian legislators are in office for themselves and not for the populace.
“Not surprisingly, the National Assembly has not passed a single bill for the promotion of anti-corruption war since it commenced business in July 2015. The Whistle Blowers Protection Bill, the Proceeds of Crime Bill and the Special Criminal Court Bill remain in a virtual state of stagnation.
“What evidence do we need to establish the hostility of the eighth Assembly to the anti-corruption war?” Sagay querried.
The eminent professor of law described corruption in the judiciary “a national tragedy that should be avoided at all cost”.
He said no one would have remotely imagined as recently as 1999 that judges could indulge in the crime of selling their judgments to the highest bidder for hundreds of millions of dollars.
The National Judicial Council (NJC), he said, does not have a disciplinary capacity to deal with crimes of such gravity.
“That is why, tragically, we are now experiencing judges being tried in courts like common criminals. That is why the anti-corruption and security agencies have taken it upon themselves to continue from where the NJC stopped.
“It is a painful but necessary sacrifice we must make in order to cleanse and sanitise the system and to breathe new life into it,” he said.
Sagay said SANs deserve “harsh punishment” for shamelessly approaching judges and introducing them to a “demeaning and shameful culture” of bribery and corruption.
“These SANs deserve the harshest punishment of all. Anti-graft agencies and the police must monitor and investigate the activities of lawyers who receive a share of the proceeds of crime as their fees,” he said.
Sagay said it was largely SANs, “stuffed full of money”, who designed every scheme imaginable to frustrate the trial of 15 former governors since 2007, out of whom only two were convicted.
According to Sagay, the Muhammadu Buhari administration has recorded several successes, including massive recovery of stolen assets, elimination of high profile looting and prosecution of high profile cases, including judges, which he said were previously ignored.
“The anti-corruption struggle is like a long distance race – a marathon. It cannot be concluded overnight. The opposition is extremely powerful, using state resources to fight back.
“What we are going to see is a progressive dismantling of the corruption infrastructure. Convictions will occur now and again, but there will be frequent forfeitures of looted funds and other types of property. Remove stolen loot from the culprit and his life becomes miserable.
“In addition to loot recovery, high profile looting at the executive level has been eliminated. Nigeria was bleeding from numerous open wounds when this administration took over about two years ago. All the bleeding has been staunched.
“What is now needed is the positive support of the citizens of this country in this titanic struggle,” Sagay said.
US car giant Ford on Wednesday announced 4,000 more job cuts in Europe, mostly in Germany and Britain, in the latest blow to the continent’s beleaguered car industry.
“The company has incurred significant losses in recent years,” Ford said in a statement, blaming “the industry shift to electrified vehicles and new competition”.
The move will affect 2,900 jobs in Germany, 800 in the UK and 300 in western Europe by the end of 2027, a Ford spokesman told AFP.
“It is critical to take difficult but decisive action to ensure Ford’s future competitiveness in Europe,” said Dave Johnston, Ford’s European vice-president in the statement.
The company also said it was adjusting the production of its Explorer and Capri models, resulting in reduced hours at its Cologne plant in the first quarter of 2025.
Europe’s car industry has been plunged into crisis by high manufacturing costs, a stuttering switch to electric vehicles and increased competition in key market China.
Germany’s Volkswagen has been among those hardest hit, announcing in September that it was considering the unprecedented move of closing some factories in Germany.
“The European automotive industry is in a very demanding and serious situation,” Volkswagen CEO Oliver Blume said at the time.
Ford had already announced in February 2023 that it was planning to cut 3,800 jobs in Europe, including 2,300 in Germany and 1,300 in Britain.
The company said then it was planning to reduce the number of models developed for Europe, concentrate on the profitable van segment and speed up the transition to electric vehicles.
Ford currently has around 28,000 employees in Europe with 15,000 in Germany, according to the company’s works council.
President Bola Tinubu has approved the dissolution of the Governing Council of Nnamdi Azikiwe University (UNIZIK), Awka, Anambra State, and the removal of the institution’s Vice-Chancellor, Prof. Bernard Ifeanyi Odoh, and Registrar, Mrs. Rosemary Ifoema Nwokike.
The council, chaired by Ambassador Greg Ozumba Mbadiwe, comprised five other members: Hafiz Oladejo, Augustine Onyedebelu, Engr. Amioleran Osahon, and Rtd. Gen. Funsho Oyeneyin.
A statement released on Wednesday by presidential spokesperson, Bayo Onanuga, revealed that the council was dissolved following reports of procedural violations in appointing the vice-chancellor.
According to the statement, the council had allegedly appointed an unqualified candidate, disregarding due process, which triggered tensions between the university’s Senate and the council.
The Federal Government expressed dismay over the council’s actions, emphasizing the need for adherence to the university’s governing laws in decision-making.
“The council’s disregard for established rules necessitated the government’s intervention to restore order to the 33-year-old institution,” the statement noted.
In a related development, President Tinubu also approved the dismissal of Engr. Ohieku Muhammed Salami, the Pro-Chancellor and Chairman of the Governing Council of the Federal University of Health Sciences, Otukpo, Benue State.
Salami was accused of suspending the university’s Vice-Chancellor without following the prescribed procedures, a move the Federal Ministry of Education had previously directed him to reverse.
Despite the Ministry’s directives, Salami reportedly refused to comply and resorted to issuing threats and abusive remarks towards the Ministry’s officials, including the Permanent Secretary.
The Federal Government reiterated that the primary role of university councils is to ensure the smooth operation of academic activities, strictly adhering to the laws establishing each institution.
Tinubu warned university councils against engaging in actions that could destabilize their institutions, as his administration remains committed to enhancing the nation’s education system.
The Ekiti State Government has reached an agreement with labour leaders in the state, signing a Memorandum of Understanding (MoU) for the payment of the N70,000 minimum wage approved by the Federal Government.
Addressing journalists at a brief ceremony in Ado-Ekiti on Tuesday, the Head of Service (HoS), Dr. Folakemi Olomojobi, announced that the payment would commence immediately.
She lauded Governor Biodun Oyebanji for prioritizing the welfare of workers despite the state’s limited resources.
“This development demonstrates the governor’s commitment to improving the livelihood of our workers,” Dr. Olomojobi stated, highlighting the proactive measures taken by the administration to ensure prompt implementation.
In their remarks, the Trade Union Congress (TUC) Chairman, Comrade Sola Adigun, and the Nigeria Labour Congress (NLC) Chairman, Comrade Olatunde Kolapo, expressed their appreciation to Governor Oyebanji for fulfilling his promises to workers.
They confirmed that the new minimum wage would apply to all cadres, including employees in ministries, parastatals, agencies, and pensioners.
The Chairman of the Joint Negotiating Committee (JNC), Comrade Femi Ajoloko, described the implementation as a fair and commendable adjustment.
“This decision reflects the governor’s magnanimity and his dedication to fostering a productive workforce in Ekiti State,” he said.
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