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Give Account For Missing N100bn Dirty Notes, Others, SERAP Tells CBN Gov
By Kayode Sanni-Arewa
The Socio-Economic Rights and Accountability Project has urged the Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, “to account for and explain the whereabouts of the over N100 billion ‘dirty and bad notes’ and ‘other large sum of cash awaiting examination’ which are kept in various branches of the CBN.”
In a letter dated June 29, 2024, and signed by its Deputy Director, Kolawole Oluwadare, SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.
The organisation said these allegations by the Auditor-General suggest grave violations of public trust, the provisions of the Nigerian Constitution, the CBN Act, and national and international anti-corruption obligations.
SERAP also asked Cardoso to “explain the whereabouts of the N7.2 billion budgeted for the construction of the CBN Dutse branch in 2010 and the N4.8 billion budgeted for the renovation of the CBN Abeokuta branch in 2009, and to publish the names of the contractors who collected the money but failed to complete the projects.”
SERAP urged the CBN boss “to explain the whereabouts of the allegedly missing outstanding loan of N1.2 billion granted to the Enugu State Government in 2015 and the outstanding loan of N1.9 billion granted to the Anambra State Government between 2015 and 2016 and to fully recover and remit the public funds to the treasury.”
It also asked him “to refer these grave violations of the Nigerian Constitution 1999 (as amended), the CBN Act and the country’s national and international anti-corruption obligations to appropriate anti-corruption agencies for investigation and prosecution, as appropriate, and the recovery of the public funds.”
The letter read in part, “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest.
“Explaining the whereabouts of the missing public funds, publishing the names of those suspected to be responsible and ensuring that they are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Central Bank of Nigeria (CBN) has since 2017 been keeping over N100 billion ‘dirty and bad notes’, and other large sums of cash awaiting examination in various branches of the CBN.
“The Auditor-General fears that the ‘dirty and bad notes’ initially planned to be destroyed may have been ‘diverted and re-injected into the economy.’
“The CBN in August 2010 also reportedly budgeted N7.2 billion [N7,286,500,476.76] for the construction of the Dutse branch building. The Dutse branch was due to be completed in November 2012 but the contractors have failed to complete the project.
“The Auditor-General is concerned that the project may have been ‘awarded to an incompetent contractor,’ and wants the ‘job completed without further delay.’
‘The CBN in 2009 reportedly budgeted N4.8 billion [N4,812,608,028.10] for the renovation of the CBN Abeokuta branch. The Abeokuta branch was due to be completed in 2012 but the contractors have failed to complete the project.
There is no significant renovation work on the site, several years after the proposed completion date. The Auditor-General is concerned that the project may have been ‘awarded to an incompetent contractor,’ and wants the ‘job completed without further delay.’”
SERAP said these violations also reflect a “failure of CBN accountability more generally and are directly linked to the institution’s persistent failure to comply with its Act and to uphold the principles of transparency and accountability.”
It added, “The CBN also reportedly failed to account for the missing outstanding loan of N1.2 billion granted to the Enugu State Government in 2015 and the outstanding loan of N1.9 billion granted to the Anambra State Government between 2015 and 2016. The Auditor-General fears the public funds may have been diverted. He wants the money fully recovered and remitted to the treasury.
“Paragraph 708 of the Financial Regulations 2009 provides that, ‘on no account should payment be made for services not yet performed or for goods not yet supplied.’
Section 35(2) of the Public Procurement Act 2007 provides that, ‘once a mobilization fee has been paid to any supplier or contractor, no further payment shall be made to the supplier or contractor without an interim performance certificate
Section 16(6) of the Public Procurement Act states that ‘all bidders shall possess the necessary professional and technical qualifications to carry out particular procurements; the financial capacity and adequate personnel to perform the obligations of the procurement contracts.’”
SERAP asserted that these alleged violations have seriously undermined the ability of the CBN to effectively discharge its statutory functions and the public trust and confidence in the bank.
According to the organisation, the apex bank ought to be committed to transparency and accountability in its operations.
It added, “SERAP notes that Section 15(5) of the Nigerian Constitution requires public institutions to abolish all corrupt practices and abuse of power.” Section 13 of the Constitution imposes a clear responsibility on the CBN to conform to, observe and apply the provisions of Chapter 2 of the Constitution.
Paragraph 3112(ii) of the Financial Regulations 2009 provides that, “Where a public officer fails to account for government revenue, such officer shall be surcharged for the full amount involved and such officer shall be handed over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the CBN to ensure proper management of public affairs and public funds.
“Nigerians have the right to know the whereabouts of the public funds. Taking the recommended measures would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their public institutions’ activities.”
News
S3xtape: Engonga Moved To Infamous Black Beach Prison
By Kayode Sanni-Arewa
Equatorial Guinea former Director General of the National Financial Investigation Agency (ANIF), Baltasar Engonga, has been moved to the infamous Black Beach Prison in Malabo where he is being remanded.
The Black Beach Prison is believed to be one of the most notorious prisons in Africa just as Amnesty International reported how a prisoner that was finally released some few years ago described the prison situated in the capital Malabo where he was detained as a hideout.
According to Amnesty International, the released prisoner qualified the prison as “a hole” in which the humidity makes prisoners live in infrahuman conditions due to the proximity of the sea and the land.
The high-profile imprisonment of Engonga came after the shocking allegations that he had over 400 s3x secretly recorded videos involving some married women connected to powerful figures across Equatorial Guinea.
The scandal which blew open during an ongoing investigation of fraud allegedly committed by the 54-year-old economist, led ANIF officials to carry out a swift search operation at his home and office.
During the raid, officials reportedly uncovered numerous CDs containing explicit footage of Engonga with different married women. The footage which leaked online, sparked a media frenzy and public outrage.
Expectedly, President Obiang Nguema Mbasogo responded swiftly to the unfolding scandal, issuing Decree No. 118/2024 on November 4, which terminated Engonga’s appointment. According to the decree, the dismissal was due to “irregularities committed in the exercise of his functions, as well as inappropriate family and social conduct for the performance of public duties.”
A viral video shared on social media on Friday showed Engonga in handcuffs that restrained both his hands and legs, as he made a court appearance.
The French media outlet Afrikmatin confirmed that Engonga, was officially dismissed on November 6, and subsequently transported to Malabo Central Prison, where he faces charges of corruption and embezzlement.
News
Liverpool remains top with 5 points ahead of others after 2-0 bashing of Aston Villa
By Kayode Sanni-Arewa
Liverpool opened up a five-point lead at the top of the Premier League as Darwin Nunez and Mohamed Salah struck in a 2-0 win over Aston Villa.
The Reds took full advantage of Manchester City’s latest defeat at Brighton earlier on Saturday to surge further clear of the champions.
Liverpool failed to hit the heights of their second-half humiliation of German champions Bayer Leverkusen in a 4-0 Champions League win in midweek.
But Arne Slot’s men were again defensively solid to protect a sixth clean sheet in 11 league games and take a firm grip on the title race.
Villa’s fourth consecutive defeat in all competitions sees Unai Emery’s men slip to eighth, but only one point off third-placed Nottingham Forest.
The Anfield crowd was fired up by news of City’s 2-1 defeat at Brighton and inspired a fast start from the home side, but it was Villa who had the better chances in the opening period on the counter-attack.
Ryan Gravenberch produced an excellent last-ditch block to repel Jacob Ramsey’s shot before Leon Bailey headed over when unmarked at the back post.
Set-pieces have been one of Villa’s big threats during their two-year rise under Emery, but it was from their corners that Liverpool looked most dangerous before the break.
The opener arrived when Virgil van Dijk’s long clearance caught the visitors under-manned at the back and Bailey would likely have been sent off for bringing down Salah had Nunez not burst onto the loose ball to net his third goal of the season.
Liverpool were then dealt a blow as Trent Alexander-Arnold hobbled off with a muscle injury that is likely to rule him out of England duty in the coming weeks.
Only wasteful finishing from Nunez saw Villa escape from a carbon copy move to the first goal.
This time Salah played in the Uruguayan on the break from a corner, but he slotted high and wide with only Emi Martinez to beat.
The first half story of Villa’s set-pieces continued as Caoimhin Kelleher was twice forced into fine saves from Amadou Onana and Diego Carlos to preserve Liverpool’s lead at half-time.
Morgan Rogers wasted another huge chance for the visitors to level just seconds into the second half when he sliced wide.
Nunez continued to have the best of Liverpool’s opportunities as he headed wide from Andy Robertson’s cross at the other end.
The home side were set for a nervy finale until Salah gave them breathing space six minutes from time.
Carlos’ header was charged down by the Egyptian who raced through on goal to dink in his 10th goal of the season.
Liverpool’s 15th win in 17 games since Slot took charge moves them into a commanding position in the title race.
Arsenal are 10 points adrift of the leaders ahead of a dauting trip to in-form Chelsea on Sunday.
And an out-of-sorts City are next to visit Anfield on December 1 after Liverpool visit bottom-of-the-table Southampton when Premier League action returns following an international break. Glitters
News
SAD! Ex-NTA prolific newscaster, Joy Osiagwu, is dead
By Kayode Sanni-Arewa
A prolific broadcaster, news anchor, reporter, producer, videographer, and film editor, Joy Osiagwu, has passed.
A report by QEDNG said that Mrs Osiagwu died last Friday at Arewa Hospital, Jabi, Abuja, in a brief illness.
She was a former employee of the Nigerian Television Authority (NTA).
Her path crossed this reporter’s at the National Assembly, where they both reported the activities of the Senate for their respective media organisations.
She was also a newscaster and would later become a media consultant. She plied the journalism trade for over two decades in full-time capacity in Nigeria and North America.
Osiagwu covered activities of the Nigeria High Commission in Ottawa Canada and the Nigeria Mission to the United Nations in New York for a decade, including the United Nations rotational presidency of the Security Council during the tenure of the former permanent representative of Nigeria to the UN Mission, Professor Joy Ogwu, in July 2010, October 2011 and August 2015 for the NTA.
Apart from covering the United Nations Global Compact for Safe, Orderly and Regular Migration in Marrakech, Morocco in 2018, Osiagwu covered the election process and emergence of the 74th president of the United Nations General Assembly, Professor Tijjani Bande, in June 2019 at the UN in New York.
Osiagwu obtained a masters in business administration and media leadership from the University of Cumbria in the United Kingdom. She also had a post-graduate diploma in broadcast performing arts from the Columbia Academy, Vancouver, British Columbia, Canada. She obtained a bachelor of arts degree in drama, majoring in theatre for development (TFD) at Ahmadu Bello University, Zaria.
Osiagwu was a member of IFLAS (the Institute for Leadership and Sustainability Cumbria Business School).
She worked at the NTA for 23 years and retired voluntarily in September 2019.
Publisher and Editor-in-Chief of THE CONCLAVE, Mr Sufuyan Ojeifo described Joy Osiagwu as a brilliant journalist who distinguished herself in the practice as a media professional.
He said the last time he saw Mrs Osiagwu was in June 2013 in Washington DC when she travelled down from Canads to cover an assignment involving the then Director General of NAFDAC, Dr Paul Botwev Orhii.
He said she would be sorely missed even as he prayed that the Almighty God would grant her soul eternal repose in His Bosom.
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