NEWS
Nigeria Urges U.S. To Return More Stolen Funds
The Nigerian Government has called upon the United States to repatriate additional illicit funds channeled through its banking system by Nigerian officials.
Minister of Foreign Affairs, Yusuf Tuggar made the appeal during the 6th Session of the Nigeria-US Bi-National Commission in Abuja on Monday.
Tuggar, represented by Adamu Lamuwa, the Permanent Secretary of the Ministry of Foreign Affairs, stressed the significance of increased U.S. assistance, noting that the $308 million returned thus far is inadequate compared to Nigeria’s cumulative losses from illegal fund transfers.
He reaffirmed the Nigerian government’s dedication to leveraging these funds for the collective welfare of its citizens, consistent with agreements with development partners.
Notably, the funds are earmarked for infrastructure development, prioritizing projects such as roads, schools, education, and other critical sectors in need of significant investment.
The Perm. Sec. said, “I would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to Nigeria the sum of over $308 million of funds stolen from the country.
“I would also urge the U.S. to do more because $308 million is a meagre amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.
“The Nigerian government has committed to using these funds for the benefit of all Nigerians, as agreed with development partners. These funds are aimed at developing infrastructure, particularly projects in roads, schools, education, and other sectors of the economy that require this substantial return.”
Lamuwa underscored the significance and timeliness of this year’s theme, ‘Partnership for Mutual Benefit and Development,’ stressing the urgent necessity for collaborative efforts.
He emphasized that strengthening ties between two major democracies holds potential for a more robust partnership, fostering peace, prosperity, and advancement not only in Africa but globally.
In her address, Assistant Secretary for African Affairs, Molly Phee emphasized the pivotal role of security cooperation in the Nigeria-U.S. partnership.
Phee emphasized that without security, the pursuit of prosperity becomes arduous and human rights are jeopardized.
She underscored the collaborative endeavors aimed at addressing Nigeria’s multifaceted security challenges, including terrorism, banditry, and piracy, which pose significant threats to its populace.
She said, “Security cooperation is another crucial aspect of our relationship. Without security, prosperity will be elusive and human rights threatened. Together, we are working to address the broad security challenges facing Nigeria, terrorism; banditry and piracy threaten its people.
“The U.S. is committed to helping Nigeria build more capable, professional and accountable security forces while ensuring respect for human rights, and fundamental freedoms, including for religious minorities.”
Recall that on February 3, 2020, the Government of Jersey, Nigeria, and the U.S. government finalized an Asset Recovery Agreement, aiming to repatriate over $308 million of forfeited assets to Nigeria.
According to a statement released on the website of the United States Embassy and Consulate in Nigeria, the funds were laundered through the U.S. banking system and subsequently held in bank accounts in Jersey under the name of Doraville Properties Corporation, a BVI company, and the son of former Head of State of Nigeria, General Sani Abacha.
The statement further elaborated, stating, ‘General Abacha and his associates stole and laundered many hundreds of millions of dollars of public money during his military regime, causing significant harm to the futures of his people.
The illicit funds were reportedly laundered by General Abacha’s family, including his sons Ibrahim and Mohammed, along with several close associates.
This laundering operation spanned across various jurisdictions, including the United States and European countries such as the UK, France, Germany, Switzerland, Liechtenstein, and Luxembourg.
Furthermore, on January 16, 2024, a Royal Court in Jersey, Channel Islands, purportedly ruled for the repatriation of stolen assets valued at £6.9 million ($8.9 million) back to Nigeria.
These assets were allegedly diverted by Nigerian government officials in 2014, under the pretext of purchasing arms to combat Boko Haram terrorists.
The Federal Government of Nigeria (FGN) has announced that the portal for student loan applications will officially open on May 24, 2024.
This development is part of the Nigerian Education Loan Fund’s efforts to enhance access to higher education, as stated by the Fund’s media lead, Nasir Ayantogo, on Thursday night.
According to Ayantogo, the launch of the application portal is a significant step in President Bola Tinubu’s commitment to providing accessible and inclusive education for Nigerian students.
This initiative follows the signing of the Access to Higher Education Act, 2023, by President Tinubu on June 12, 2023 which aims to provide interest-free loans to financially disadvantaged students pursuing higher education in Nigeria.
Dele Alake, a member of the former Presidential Strategy Team, noted that this move fulfills one of President Tinubu’s key campaign promises to liberalize funding for education.
The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to handle all loan requests, grants, disbursements, and recoveries.
Initially, the government announced that the scheme would launch in September, but it faced several delays, resulting in an indefinite postponement in early March.
The Presidency attributed the delay to President Tinubu’s directive to expand the scheme to include loans for vocational skills.
Following a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu instructed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs.
President Tinubu stressed the importance of including those who may not seek university education, noting that skill acquisition is equally as important as earning academic degrees.
He had said, “This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.
“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.
“In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,”
Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
According to the statement, the portal features a user-friendly interface, allowing students to conveniently submit their loan applications.
The statement added, “We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation. Students can access the portal on www.nelf.gov.ng to begin application.”
President Bola Tinubu received Senegal’s newly elected President, Bassirou Faye, at the Aso Rock Villa in Abuja on Thursday.
Faye, who arrived at 3:09 p.m., is making his first official visit to Nigeria since taking office last month.
At 44, he is the youngest president in Senegalese history, having secured a decisive victory in April’s delayed presidential election with over 54% of the vote.
More to follow……..
In the devastating arson that occurred on Wednesday during an early morning prayer in Gaza village near Gezawa in Kano State, eleven people have been confirmed dead.
The perpetrator, 38-year-old Shafiu Abubakar, set fire to a mosque amidst an inheritance dispute, trapping around 40 worshippers inside.
Rabiu Gadan, a resident of the village, disclosed that 11 individuals have tragically succumbed to the burns they suffered.
Of these victims, eight have already been laid to rest, while preparations are underway for the burial of the remaining three, scheduled for Thursday.
Rabiu revealed that the attack was not the first instance of violence involving Shafiu. Previously, he had assaulted two of his older brothers and then voluntarily surrendered himself to the police, claiming responsibility for their deaths.
Another resident, Malam Garba, said, “He has always been troubled, but when he challenged his family to give him his portion of the inheritance, they did.
“He was even taken to a mental institution once when he attacked his relatives but he was given a clean bill of health. So, he was clearly in his right mind when he set the fire, two of his uncles died and we buried them yesterday already.”
According to BIZTELLERS reports, the assailant is currently in police custody, where he has confessed to his actions.
He cited frustration with the way some of the victims handled the inheritance sharing as his motive. Despite warning his family members to stop maltreating him, he claimed his pleas were ignored.
He however expressed no regret for his actions.
Residents confirmed the existence of an inheritance dispute within the family, but the precise nature of the disagreement remained unclear.
At the Murtala Muhammad Specialist Hospital in Kano, where the injured were rushed for treatment, distraught relatives anxiously awaited news about the condition of their loved ones.
Maijida, one of the distressed relatives, shared her heartache, expressing fear over the condition of her father and brothers.
“My father and two brothers are severely injured and I was told some people have died already, what will I do if I lose them, I will be left all alone.” she lamented.
One of the residents that attempted to rescue the victims, Musa Muhammad Gadan said, “I was late going to the prayers, but as I was rushing to the mosque, I heard a blasting noise and then I heard people screaming so I rushed over, the flames had engulfed the building, I and some others tried to rescue them and that is how I sustained burns on my arms.
During a visit to the victims at Murtala Muhammad Specialist Hospital, Deputy Inspector General of Police AIG Umar Mamman Sanda, in charge of Zone 1 in Kano, confirmed the devastating loss of eight lives on Wednesday.
He was accompanied by a delegation of security personnel, including the Commissioner of Police in the state and the Director of the Department of State Services (DSS).
He said, “The suspect was said to be not satisfied with the distribution and was reacting to that. He is presently with us and is giving useful information. It is really unfortunate.”
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