News

N90bn Hajj Fraud: Tinubu Sacks NAHCON Chairman, Arabi, Appoints Usman

Published

3 months ago

August 20, 2024

Admin

President Bola Tinubu has sacked the Executive Chairman of the National Hajj Commission of Nigeria (NAHCON), Jalal Arabi, over the alleged mismanagement of the N90 billion 2024 Hajj subsidy.

The Presidency in a statement on Monday, August 19, 2024 announced the appointment of Professor Abdullahi Saleh Usman as the new Executive Chairman of NAHCON.

It would be recalled that the Economic and Financial Crimes Commission (EFCC) arrested and detained Arabi alongside the NAHCON Secretary, Abdullahi Kontagora, at its custody in Abuja over the alleged fraud.

The anti-graft agency, in a document obtained on Wednesday, August 14, 2024, disclosed that SR314,098 (Saudi Riyad) was recovered from the sacked NAHCON chairman and other officials.

The EFCC noted that its investigation revealed that from the N90 billion Hajj subsidy, Arabi fraudulently overpaid himself and others the necessary operational cost.

It stated: “The chairman fraudulently overpaid himself, the commissioners, secretary and directors for the 2024 hajj operational cost.

“The chairman was entitled to SR15,929 but he got SR50,000; three commissioners who were meant to get SR 15,929 each received SR 40,000 each.

“The secretary got SR 30,000 instead of SR14,336. Directors/Chief of Staff received SR 30,000 instead of the SR2,550 they were entitled to. The total of SR314,098 were recovered from all of them.”

The anti-graft agency had first grilled Arabi for hours on July 29 and released him on bail.

The Presidency stated that Prof. Usman is a renowned scholar with qualifications from the University of Madinah and Peshawar University, Pakistan.

He is also well-grounded in Hajj operations, having served as the Chairman of Kano State Pilgrims Board, and successfully superintended the operations of the largest quota of state pilgrims in the country.

The appointment is subject to confirmation by the Senate.

Presidential spokesman, Ajuri Ngelale, said the President expects the new Chairman of NAHCON to discharge his duties with integrity, transparency, and utmost fidelity to the nation.

News

Brain Drain, Infrastructure, Resource Allocation Challenges Of Health Sector – Reps

Published

17 minutes ago

November 15, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has highlighted the detrimental impact of the mass migration of health workers from Nigeria, describing it as a major challenge to the country’s healthcare system.

The Chairman, House Committee on Health Institutions, Rep. Amos Magaji, stated this during a public hearing on 16 bills aimed at establishing various health institutions, on Thursday in Abuja.

Rep. Magaji underscored the need for better distribution of healthcare facilities, particularly in rural areas, to address population growth and healthcare gaps.

He noted, “Recently, there has been an enormous migration of doctors, nurses, and other health workers in search of ‘greener pastures,’ leaving Nigeria’s health sector severely understaffed. To improve the sector, we must invest in human resources, medical intelligence, and the administrative appointment of capable persons based on merit.”

The Chairman also brought to light the infrastructural deficiencies in healthcare institutions across the country, citing inadequate funding, lack of maintenance, and insufficient equipment as recurring issues.

The Minister of Health, Prof. Mohammed Ali Pate, represented by Dr. Jimoh Olawale Salahudeen, in his submission warned against the duplication of health institutions, and stated that such efforts would strain the already scarce resources.

He explained, “Existing Federal Teaching Hospitals and Medical Centers in Nigeria, including those in the North West, already provide cardiovascular care and related services. Establishing a new institute would add financial burden without addressing the core issues.”

Pate also acknowledged the migration of health workers and the need for a stronger workforce to handle emerging health challenges.

“The Federal Ministry of Health supports the establishment of new institutions but insists on considering geographical spread, population density, and disease burden in proposed locations,” he added.

The hearing emphasised the need for balanced development in the healthcare sector, adequate funding for existing institutions, and policies to retain health professionals in Nigeria.

News

Access Bank (UK) Limited to Acquire AfrAsia Bank Limited

Published

33 minutes ago

November 14, 2024

Gloria Ikibah

By Gloria Ikibah

Access Holdings PLC has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has signed a binding agreement to acquire a majority stake in AfrAsia Bank Limited, the third-largest bank in Mauritius by total assets.

Mauritius, known for its strong financial sector, which contributes 13.4 per cent to its GDP, offers Access UK a strategic base to grow its personal and corporate banking services.

This was contained in a statement by its Company Secretary, Sunday Ekwochi, made available to Naijablitznews.com on Thursday.

According to Ekwochi, the acquisition will also position Mauritius as a hub for Access Bank’s trade finance operations, enhancing its ability to manage cross-border transactions across Africa and internationally.

AfrAsia Bank, as of June 30, 2024, reported total assets of over $5.7 billion and a net profit after tax of $152.4 million, underlining its solid financial position.

**Key statements on the acquisition:**

– Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, speaking on the acquisition said: “This acquisition is a crucial step in our African growth strategy, strengthening our position as a top Pan-African financial institution. Mauritius’ role as a financial hub aligns with our vision to unlock opportunities that drive trade, support businesses, and promote economic inclusion across the region.”

Also Managing Director of Access Bank UK, Jamie Simmonds, stated: “AfrAsia Bank’s strong balance sheet and established brand in Mauritius give us a solid platform for sustainable growth. This deal supports our strategy to diversify earnings and provide clients with seamless access to global markets.”

Access Bank UK aims to promote sustainable growth, deliver innovative financial solutions, and support trade between Africa and the world.

The acquisition process will be finalized in the coming months, with updates provided as needed.

News

FEC approves ₦47.9tn 2025 budget

Published

2 hours ago

November 14, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Federal Executive Council, FEC, has approved a proposed national budget of ₦47.9 trillion for the 2025 fiscal year.

Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Thursday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu.

This was part of the Medium-Term Expenditures Framework, MTEF, for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007.

“And equally, the fiscal objectives were conservative, because we want to ensure that we study the course much as we believe the projections will be exceeded.

“The budget size that was approved for presentation to the National Assembly in the MTEP is ₦47.9 trillion, with new borrowings of ₦9.2 trillion to finance the budget deficit in 2025,” Bagudu said.

“We need to sustain the market deregulation, commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the petroleum industry act 2021 to address the significant risk to Federation.

“The Federal Executive Council approved the Medium Term Expenditure Framework and the physical strategy paper, and it will be submitted to the National Assembly.

“This is in addition to bills that are already at the National Assembly, the economic stabilization bills and tax reform bills, which we believe we will have a very, very strong growth in 2025.”

During the meeting, the FEC approved its submission to the National Assembly as required by the 2007 Fiscal Responsibility Act.

The framework projected a gross domestic product (GDP) growth rate of 4.6 percent, an exchange rate of $75 to the naira, and oil production of 2.06 million barrels per day. [Channels TV]