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Report: EFCC Begins Probe Of $16bn Allegedly Spent On Power

[dropcap]T[/dropcap]he Economic and Financial Crimes Commission (EFCC) has started investigating the alleged $16 billion spent on power during the administration of former president Olusegun Obasanjo. On Tuesday, President Muhammadu Buhari had queried the expenditure on power during the Obasanjo administration.

The ex-president had subsequently replied by expressing his readiness for a probe. According to  The Nation, in a report sourced from TheCable, an EFCC team is already gathering facts that it would use to investigate the case. The newspaper said the agency may invite two ex-ministers, former top officials of the defunct Power Holding Company of Nigeria (PHCN), present and past officials of the Niger Delta Power Holding Company (NDPHC) and all the people recommended for investigation by a committee of the house of representatives.

“We are looking into all the allegations and issues surrounding the power projects. We will conduct a comprehensive and forensic probe to ascertain the true status of all the projects,”  the newspaper quoted a source as saying. “This investigation will actually ascertain how much has been spent so far.  We have many figures being bandied about as follows: $16 billion, $13.278 billion, $10.3 billion, $8.4 billion and $8.55 billion.

“This is not an investigation aimed at ex-President Olusegun Obasanjo or anybody. We have to step in to set the records straight.

“Already, a team is collating facts and figures on these projects as part of the preliminary level/ bend of the investigation. We will retrieve the report of the House of Representatives Committee which investigated the power projects.

“The House actually recommended 18 top former public officers, including two ex-ministers, for investigation by anti-graft agencies, especially EFCC and ICPC. Many salient issues were raised for investigation by the house committee, which was headed by Hon. Ndudi Elumelu.”

In 2008, the Elumelu committee said about $13 billion was spent on power between 1999 and 2007.

Delta Police Command Warns IPOB, Other Outlawed Group Against Illegal Protect

[dropcap]T[/dropcap]he Delta State Police Command on Friday warned the group, Indigenous People.of Biafra (IPOB) and any other outlawed group in the state against carrying out illegal protest in the state.The police says the warning was part of its deliberate resolve to ensure a violence-free Democracy Day in the state.

This is coming amid intelligence reports of threats by some outlawed groups such as IPOB to disrupt the peace and stability of Delta State, the Command’s spokesman, Mr. Andrew Aniamaka said in a statement issued on Friday.

The statement sternly warns members of the IPOB and other allied Pro-Biafra groups and their sympathizers to retrace their steps as it will not condone any form of ill motivated protests or agitations that will jeopardize the peace and progress of the state.

“The Command recalls that not too long ago the ill-advised activities of these outlawed groups resulted in so many deaths of the innocent, destruction of property, disruption of business activities, amongst others, and warns that the police and other security agencies will not fold their arms and watch persons or group of persons foment trouble that will disrupt the peace and order in the state. The Command has therefore already arrested and arraigned some IPOB members in court.

“The Command, while acknowledging that it is not unaware of the constitutional rights of law abiding citizens to embark on processions, picketing or other forms of protests, notes that these rights must be exercised within the confines of the law and must not be used to causeanarchy and mayhem in the state as has been done, and still being intended, by IPOB and others.

“The Command therefore enjoins all well-meaning Deltans to remain law-abiding and to report any suspicious movement of persons to the police and other security agencies even as it pledges to continually serve them better”.

Gov. Umahi vows never to castigate Buhari

[dropcap]G[/dropcap]ov. David Umahi of Ebonyi has vowed never to castigate President Muhammadu Buhari to prove that he was still in the Peoples Democratic Party (PDP). Umahi made the declaration on Saturday night in Abakaliki during a media chat and dinner he organised for journalists as part of the 2018 Democracy Day celebrations.

The governor noted that his decision was a matter of principles, stressing that Buhari remained his only boss. “I have left all those issues to political parties not because the president is doing everything right but because he is not God. “He might not be doing everything 100 per cent but it is not my duty to castigate my boss and will only face my duties.

“It is also not my duty to write petitions about the past administration in the state and I am focused towards my duties as child of God who has a calling and is committed,” he said.

The governor noted that corruption was not a party affair but an issue that has to do with the individual engaging in it. “The Bible says that with the fear of God, men depart from evil and without effective tackling of corruption, Nigeria will never develop.

“It is not an issue concerned with the PDP and if those who decamped from the party to the country’s ruling party says it is corrupt, then they have infected their new party with corruption,” he said.

He declared that his constant mention of opposition members in the state during solidarity rallies in his honour does not mean that he was threatened by their activities and antics.

“No member of the opposition can stand for election with me because they have no base in the state and are only deceiving the people.

“They are not working for the president as they deceitfully claim but are big minuses for the opposition party because most of them don’t own houses in the state.

“They boast of using the federal might to rig the 2019 elections but the youths have warned anyone planning to execute such act to write two things: the fake results and his will,” the governor said.

Umahi listed his administration’s development strides in education, health, human empowerment, infrastructure and security, among others, noting that Ebonyi would be Nigeria’s Dubai after his eight years tenure.

The News Agency of Nigeria (NAN) reports that journalists and individuals across the state and beyond asked questions on state and national issues.

Top government officials including the Secretary to the State Government, the Chief of Staff, legislators and some cabinet members, among others, were however locked out because of lateness.

But they were admitted into the venue after the interactive session.

KPMG: Manchester United Is Worth €3.25b, ‘Remains Most Valuable Club In Europe’

[dropcap]M[/dropcap]anchester United has again been named most valuable European football club, being worth about €3.25bn (£2.9bn) says business services group KPMG.

The English club tops KPMG’s study of top sides’ “enterprise value”, ahead of Real Madrid and Barcelona.

The study, based on the 2015-16 and 2016-17 seasons, studied profitability, broadcasting rights, popularity, sporting potential and stadium value.

Champions League finalists Liverpool are in eighth place in the rankings.

In the analysis of 32 major teams, Premier League clubs fill six of the top 10 places.

Andrea Sartori, KPMG’s global head of sports and the report’s author, said the overall value of the football industry had grown over the past year.

“Overall growth is driven by different factors, one of these being the increase of operating revenues of the top 32, at 8%,” he said.

“Eye-catching transfer deals and spiralling staff costs have not prevented such clubs from registering a striking upward trend, as the profits before taxes increased by some 17 times in comparison to the previous year.”

Top 10 European clubs by ‘enterprise value’

Manchester United – €3.255bn

Real Madrid – €2.92bn

Barcelona – €2.78bn

Bayern Munich – €2.55bn

Manchester City – €2.16bn

Arsenal – €2.10bn

Chelsea – €1.76bn

Liverpool – €1.58bn

Juventus – €1.30bn

Tottenham – €1.29bn

Source: KPMG

Mr Sartori added: “One of the reasons for this growth can be found in the significant influence exercised by English clubs, as well as the improved financial health of many mid-size clubs within the ranking, which also reflects compliance with the Uefa financial fair play regulation.”

As well as dominating the top 10, there were a further three English teams – West Ham United, Leicester City and Everton – in the top 20 places.

Meanwhile, SSC Napoli (17th placed) became the second most valuable club in Italy, behind Juventus and ahead of the Milan giants.

This year, 12 clubs were valued in excess of 1bn euros, two more than in 2017.

And six clubs reported an “enterprise value” above 2bn euros: three from the English Premier League, two from Spain, and one from Germany.

During the 2015-16 and 2016-17 seasons, Manchester United won the FA Cup, League Cup and Europa League, but have ended the recent campaign trophyless.

 By Bill Wilson Business reporter, BBC News

President Buhari Today May 27 is celebrating with the Nigerian Children on today’s Children’s day celebration.

[dropcap]H[/dropcap]e wrote a lengthy letter to show how important these group of Nigerian population are. This is the full letter of the president to the children.
“Today affords me another opportunity to re-affirm our Administration’s commitment to the protection of children, a day to reflect on our roles and responsibilities as Parents and Leaders towards our children, and also assessing how far we have fared in this regard.As you may recall, one of the cardinal objectives of this Administration is the provision of quality education to our children as a fundamental foundation of economic and social development.

In this regard, I am pleased to inform you that this Administration has recorded measurable success in the home grown school feeding programme as it has continued to expand.Our children are our future, and the initiatives that come from them give confidence that our country has a bright future.

I am always inspired and encouraged when I remember encounters I had with three of our young ones. When I was on medical vacation in 2017, three year old Maya Jammal recorded a prayer for my recovery, which went viral online.

Also, 10 year old Aisha Aliyu Gebbi wrote a personal letter to me, describing herself as my “biggest fan”.
Nicole Benson, then 12 years old, had contributed the sum of Five Thousand, Seven Hundred Naira and Eighty-Five kobo (N5,700.85) to my campaign in 2015. The money was all saved up from her lunch and pocket allowance. There are millions of such children nationwide.

I am very impressed by what our children have been able to do, and what the future holds for them. That is one reason why we are committed to the school feeding programme, to prepare a future generation of physically and intellectually robust children. At the last count, over 8.2 million children in 24 states of the Federation are being given free meals daily. This happens in 45,000 schools round the country.

I therefore call on all stakeholders to support this programme to ensure that all the 36 States of the Federation and FCT are covered. This will promote substantially higher enrolment levels in our schools.
Since its inception in May, 2015, this Administration has also focused attention on addressing issues of child protection, participation and survival. In 2015, the campaign to end violence against children was launched which was commemorated in 2016.

In November 2016, the Campaign to End Child Marriage was also launched to ensure that as many children as possible are able to fully enjoy their childhood and be protected from all the challenges associated with this phenomenon. These campaigns have been reinforced with sensitization campaigns in some States of the Federation.

The theme for this year’s celebration “Creating Safe Spaces for Children: Our Collective Responsibility” is an opportunity to promote the safety and security of our children. As a responsible Government, we are committed to ensuring that children are protected from violence and exploitation against them, and, that their environments are safe enough for them to pursue their educational attainments, discover their full potentials to grow into responsible citizens.
This Administration has made giant strides in the protection of the Rights of the Nigerian Child and as a result of such efforts, Nigeria has been declared a Pathfinding Country on Ending Violence Against Children. This I believe is a collective achievement and I urge us to continue to build on the present momentum to achieve the targets of the Sustainable Development Goals (SDGs).

In our efforts to protect our children from abuse, exploitation and trafficking as well as provide safe, non-violent inclusive and effective learning environment in our schools, this Administration has directed the management of all Federal Government Colleges and advised all state owned schools across the Country to provide adequate measures of safety and security of their students. I again call on all schools management committees at all levels of public and private institutions to take adequate security measures and put in place mechanisms for safety of children.
May I ther

efore call on the Families, Security Agencies, Traditional Rulers, Religious Leaders, Civil Society Organizations, Human Rights Activists, and the Society at large to rise up and take urgent and decisive actions to stem the unacceptable rising cases of violence against our Children. We must ensure safety of our children in homes, schools, markets, worship centres, on the streets and everywhere at all times.

Furthermore let me use this medium to appeal to parents not to relent in their efforts to send their wards to school, especially the girl child as her education reduces infant and maternal mortality and prevents early and child marriages. It also increases literacy and reduces poverty. The saying that to educate a woman is to educate the nation is very apt in this regard”

We Bribed NASS 17Bn to Pass Budget – Okonjo Iweala

Ngozi Okonjo-Iweala

[dropcap]F[/dropcap]ormer finance minister Ngozi Okonjo-Iweala has revealed the blackmail and arm twisting that characterised budget passing by the National Assembly during the Goodluck Jonathan Administration.She cited an instance in 2015 when the National Assembly leadership forced the executive arm to part with N17 billion for the federal lawmakers to pass that year’s budget.

That, she said, was at a time crude price had gone down drastically.The N17 billion alleged bribe, according to Okonjo-Iweala in her book Fighting Corruption is Dangerous:The Story Behind the Headlines, was besides the NASS N150 billion annual ‘standard’ budget.

She described federal legislators as a tough political group to deal with.Her words: “The legislature was concerned largely about three things—the size of its own budget; the nature and the size of the capital budget, particularly investment projects; and the number and geographical location of the projects.

“Senators and Representatives felt that their role as appropriators of the budget was not just to vet and approve budget parameters and oversee budget implementation, but also to shape the size and content of the budgets, including details of specific projects.”She said members of the NASS Finance and Appropriation even felt ”they had the right–indeed the duty–to get into the details of the budget formulation and preparation process all along the budget value chain.”

The ex-minister said the NASS leadership, working through the various committees, “sought to add more to individual projects or create completely new, unappropriated major projects, thereby distorting the budget.”But she explained that “not all National Assembly members supported these unfortunate manipulations of the budget.”She added: “National Assembly members had negotiated large increases in the National Assembly budgets and would brook no discussions or challenges on the issue.

“Their operational budget had ballooned to N150 billion or 16 per cent of the budget and almost 3.5 times the 2006 budget (in naira).”
Okonjo-Iweala said when it was proposed that the lawmakers should give up some of their benefits in view of dwindling revenue in 2015, they bluntly refused to do so.“By the time we presented the budget on December 16, 2014, oil prices had fallen further to $58 per barrel.“We were prepared and we knew we had to trigger the additional expenditure and revenue measures in 2015 to make the budget work.“This would be tough, given that we had entered an election year,” she said.
”Indeed, legislators initially refused to accept any cuts to their regular N150 billion budget, despite dwindling revenues.
“But eventually, they agreed to a 13 per cent cut against a backdrop of ministers accepting a voluntary 50 per cent cut to their basic salaries.“In a tough session with the National Assembly’s ad hoc committee on the budget (made up of chairs of the Finance Committee and Appropriation Committee of both chambers and other leaders of the National Assembly), an additional N20 billion was re-introduced as election expenses for National Assembly members.

“We insisted the amount be dropped because it nullified the 13 per cent cut made to their statutory budget, but managed to reduce the N20 billion figure by only N3 billion to N17 billion.“This became the price to pay to have the 2015 budget passed.”

Okonjo-Iweala was Jonathan’s finance minister from August 17, 2011 to May 29, 2015.

She had served in the same capacity in the Obasanjo government.

The Federal Government proposed to spend N4.454 trillion that year.

Re: WAEC Recruitment 2018/2019 Exercise and How to Apply Online via waeconline.org.ng

PRESS RELEASE 
[dropcap]T[/dropcap]he attention of the West African Examinations Council (WAEC), Nigeria has been drawn to an “advertisement” trending on Facebook and other social media, titled “WAEC Recruitment 2018/2019 Exercise and How to Apply Online via waeconline.org.ng”, by topgist.com.ng.
We hereby categorically state that there is no recruitment exercise currently going on or being carried out by WAEC Nigeria. The advertisement did not emanate from us neither did we authorize any agent to do so on our behalf.
The advertisement on the so-called recruitment exercise is simply the handi-work of fraudsters who are out to dupe gullible and unsuspecting job seekers and members of the general public.
WAEC is a reputable and structured organisation that operates in accordance with time-tested norms and prescribed procedures, whose hallmarks are integrity, transparency and openness. Therefore, whenever there is need and capacity for any recruitment exercise, the general public would be duly informed through reputable media channels.
Applicants and the general public are hereby advised to disregard the purported advertisement and avoid falling into the hands of scammers who are out to make money from gullible and undiscerning individuals.
MANAGEMENT

NUPENG-PENGASSAN Repudiate NCDMB & OPTS Newly Signed Service Level Agreement; Direct Stakeholders To Rescind Decision

 

PRESS RELEASE

[dropcap]T[/dropcap]he Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) read with rude shock and total dismay the purported Service Level Agreement (SLA) reached between the Nigerian Content Development and Monitoring Board (NCDMB) and the Oil Producers Trade Section (OPTS) and therefore condemn it in its entirety and see the SLA as an unwholesome act.

It is ridiculous and unfortunate that the NCDMB allowed desperate OPTS to arm-twist it into making mockery of the key thrust of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, vis a vis maximizing participation of Nigerians in the Oil and Gas activities as well as maximizing the utilization capacity of Nigerian resources, i.e. goods, services and assets.

The Unions wonder what sort of maximization of Nigerian’s participation in the Oil and Gas businesses will arise from the reduction of the contract circle to a mere six months duration, rather, it is our belief that it will lead to further impoverishment of indigenous contractors and workers in the Oil and Gas industry.

We are very sure that the prevailing indecent and precarious work condition in the Industry will further be accentuated by the reduction of contract circle to six (6) months duration.  A situation which this injurious Agreement signed on Wednesday, May 9, 2018 sought to champion, and which is nothing short of slave-labour in our opinion.

The Unions express worries that such Agreement will in no way help to deepen the skill acquisition and expertise of Nigerians because of the likelihood of International Oil Companies (IOCs) and Indigenous Oil Companies who may want to ridiculously exploit such Agreement for their pecuniary advantage.

Any Agreement that fails to address the issues of decent and sustainable jobs for Nigerians in the Oil and Gas industry would be vehemently resisted in whatever guise they appear.

NUPENG and PENGASSAN conclude that it is indeed unfortunate and sad that the views and opinions of Unions in the Oil and Gas industry are not regarded worthy of consideration in the course of work of Nigerian Content Development and Monitoring Board (NCDMB) yet the Board was specifically set up by law for the reason of maximizing decent and sustainable participation of Nigerians in the Oil and Gas industry.

With humility and without sounding disputatious or belligerent, NUPENG and PENGASSAN however call on all relevant stakeholders involved in this Agreement to immediately have a rethink of their decision in the overall interest of Nigeria.

 

Signed

Comrade Prince Williams Akporeha                                Comrade Francis O. Johnson

National President                                                                           President (PENGASSAN)

 

Comrade Adamu Song                                                       Comrade Lumumba I. Okugbawa

General Secretary (NUPENG)                                                   General Secretary (PENGASSAN)

Manchester United can make money regardless of results – Ed Woodward

[dropcap]A[/dropcap] combination of Manchester United’s global fame and the Premier League’s allure to broadcasters mean United can make money regardless of results on the pitch, the club’s vice-chairman Ed Woodward has claimed.During United’s quarterly conference call with shareholders, Woodward was asked if the improved performance in the Premier League this season had played a part in another bumper set of financial numbers for the world’s richest club.

Woodward replied: “Playing performance doesn’t really have a meaningful impact on what we can do on the commercial side of the business.”

While his “very simple and candid” answer might raise some eyebrows among a fanbase not used to trailing their local rivals Manchester City by 19 points, the numbers suggest Woodward is right.

Overall, the club generated £137.5 million in total revenue in the first three months of 2018, the third quarter of the club’s financial year, up more than £10m, or 8.1 percent, on the same period last year.

The main reason for this hike was that United had an extra home game and two more games televised live in this quarter than in the corresponding period in 2017.

But there were also healthy uplifts in revenue from the club’s numerous sponsorships around the world, ticket sales, hospitality packages and merchandise, with Alexis Sanchez’s arrival in January providing a boost.

What this is likely to add up to, Woodward said, was total annual revenues to the end of June of between £575-585m and underlying profits of around £175m.

He also underlined the vitality of the club’s various media ventures, with MUTV subscriptions up, the club app top of the charts in 36 countries, a revamped website on the way and YouTube’s fastest growing sports team channel.

“After the first week it went past the Dallas Cowboys and after the second it overtook the New York Yankees — it’s bigger than any U.S. sports team’s channel,” boasted Woodward to his largely American audience.

The importance of broadcasting — be it old-fashioned linear television or over-the-top (OTT) streaming services such as Netflix — to football teams is hardly a new idea but Woodward made two points that revealed just how central it is to modern sport.

Asked for an update on the Premier League’s sale of the UK broadcast rights for 2019-22, Woodward reminded the investors that five of the seven packages had been sold, with two more packages of 20 games a season each still to go because they did not reach their list price in February’s auction.

Woodward admitted that not only was there “no update” on their sale but the indication was that the total revenue from all seven packages was likely to be a “slight reduction” on the £5.1 billion achieved in 2015 for the current three-year deal.

Some would assume that this would be a cause for concern but Woodward’s other intriguing remark related to the recent stories about a mysterious £18.5bn investment in a revamped Club World Cup, to which FIFA would like to invite United.

“The merits and details are currently being considered by FIFA and other stakeholders and I don’t intend to go into them here,” he said, having just returned from a meeting on Wednesday in Lyon where a UEFA panel expressed its strong concerns about the plan.

“However, it supports the view that OTT platforms will be the future of content consumption and live compelling content will be a key battleground.

“Content generators are uniquely placed to be the beneficiaries and we continue to believe live streaming content will become increasingly more valuable.” The shareholders were clearly satisfied by that as the call was wrapped up after just two questions.

The only other business of note was Woodward’s opening remark that the club hopes to hear if its application for a team in the FA Women’s Super League next season has been successful by the end of the month.

NUPENG Seeks Passage Of Three PIB Components

Prince Williams Akporeha

[dropcap]T[/dropcap]he Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has called for immediate passage of the three other components of the Petroleum Industry Bill (PIB).

The President of NUPENG, Williams Akporeha, who made the call in a statement in Lagos on Thursday, said that the union was worried over the delay in passing the other aspects of the bill. He said, “The delay in passing the three other components of the bill namely, the Fiscal Framework, Host Communities Issues and the Petroleum Industry Administration Bill gives cause for concern.

“The nation has lost billions of naira in foreign investments, which would have come into the oil and gas industry but for the uncertainties and delay in the passage of the bill into law.”

Akporeha explained that the passage of the bill would go a long way in ensuring transparency and honesty in the oil and gas sector.He argued that passage of the remaining components of the PIB would restore investors’ confidence, generate employment opportunities and reduce tension in the Niger Delta.

Akporeha pleaded with the National Assembly to pass the bill without further delay and to address all labour issues that might arise from the unbundling, to save the nation from industrial unrest.