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Former OPIC MD Odusolu is indicted by the Ogun Assembly for allegedly missing N20 billion

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Babajide Odusolu, the former Managing Director of the Ogun State Property and Investment Corporation (OPIC), has been indicted by the Ogun State House of Assembly for allegedly stealing N20 billion.

The Assembly also ordered Odusolu to return to the State coffers a sum of N40 million that was allegedly unaccounted for in 2019.

The lawmakers said they received and adopted the report of their Committee on Public Accounts and Anti-Corruption, which considered the 2015-2019 State Auditor-report General’s on OPIC, and asked anti-graft agencies to investigate and recover a balance of N2,579,771,717.71 into the State’s coffers.

Musefiu Lamidi, the committee’s Chairman, had proposed the report’s adoption, which was seconded by Oludaisi Elemide and supported by others in a voice vote.

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According to the report, “the Committee observed that the audit report revealed that in 2019, the Corporation expended a total of N1,197,182,579.27 and the balance is N2,620,596,187.38 after generating an income (including subventions and grants) of N3,817,778,776.65 and the balance is N2,620,596,187.38 after generating an income (including subventions and grants) of N3,817,778,776.65 and the balance is N At the end of 2018, the expected bank balance was N685,194,035.01, bringing the total expected balance to N3,305,790,222.39, which was available to the Corporation.

“According to the bank balance sheets submitted to the Committee for the year 2019, there was a total of N726,018,504.68 in the bank balance sheets, representing an unaccounted balance of N2,579,771,717.71.”

The Assembly noted in its recommendation that the sale of 8.2 hectares of land at Isheri to Rainerhill Internationals Services Limited, a Pesianas Group subsidiary, for the “undervalued price of N164M” was not in the best interests of the state.

Despite the Assembly’s request that all title documents issued in favor of Rainerhill Internationals Services Limited on the land be declared null and void, it maintained that OPIC should retain land ownership.

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In addition, the Committee requested retrospective legislative approval for a “expended unbudgeted sum of N881.5 million,” failing which Odusolu was expected to refund the money to the government in six months.

It was also suggested that the embargo on a sum of N608,226,371.69 held by 16 OPIC banks be lifted.

The Assembly also requested that a “proposed 5-star Hotel, Ikeja” be investigated, despite the fact that “a sum of N45,025,064:00 was expended to obtain title documents.”

COVID-19: WHO, IMF, and others express concern about the global vaccination target of 40% by 2021

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The Multilateral Leaders Task Force, which includes the International Monetary Fund (IMF), the World Bank Group (WB), the World Health Organization (WHO), and the World Trade Organization (WTO), has expressed concern that without immediate action, the world may not be able to reach the end-of-2020 target of vaccinating at least 40% of the population in all countries, which is a critical milestone for ending the pandemic and for g

The Task Force stated its position at a meeting with CEOs of leading vaccine manufacturing companies to discuss strategies to improve COVID-19 vaccine access, particularly in low- and lower-middle-income countries and Africa.

The Task Force has joined forces to accelerate access to COVID-19 vaccines, therapeutics, and diagnostics by leveraging multilateral finance and trade solutions, especially for low- and middle-income countries.

The goal is to vaccinate at least 40% of the population in each country by the end of 2021, and at least 60% by the middle of 2022.

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The Task Force members stated in a statement that, despite adequate global vaccine production in aggregate, vaccine doses are not reaching low- and lower middle-income countries in sufficient quantities, resulting in a vaccine inequity crisis.

As a result, the Task Force urged countries that have purchased large quantities of vaccine doses, as well as vaccine manufacturers, to work together in good faith to expedite COVID-19 vaccine supplies to COVAX and AVAT, two multilateral mechanisms that are critical for equitable vaccine distribution.

The Task Force members praised the CEOs’ willingness to collaborate with them to eliminate vaccine inequity, as well as their willingness to form a technical working group with the Task Force to share and coordinate vaccine production and delivery information.

They stressed, however, that if the 40 percent coverage threshold is to be met in all countries by the end of 2021, countries with high vaccination rates that have collectively pre-purchased over two billion doses in excess of what is needed to fully vaccinate their populations should “swap their near-term delivery schedules with COVAX and AVAT; fulfill their dose requirements as soon as possible.”

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The Task Force argued that doses should be delivered to the countries that need them the most, especially low- and lower-middle-income countries.

As a result, it has requested that vaccine manufacturers share information on month-by-month delivery schedules for all vaccine shipments, particularly COVAX and AVAT.

WHO emphasized its call for a moratorium on booster doses until the end of 2021, with the exception of the immune-compromised, in order to help low-income countries optimize their supply.

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The Task Force also urged all countries to address COVID-19 vaccine export restrictions, high tariffs, and customs bottlenecks, as well as the raw materials and supplies needed for vaccine production and timely distribution.

Yahaya Bello is one of Nigeria’s best-performing governors – Group

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The Convener is on your side. Prof Chris Mustapha Nwaokobia Jnr, a Nigerian academic, has urged Nigerians to rise above sentiment and fake news in the case of Kogi State Governor.

Prof Chris insisted in a press statement that Yahaya Bello has continued to do well in transforming Kogi state, which he personally signed.

The statement reads as follows:

“Is the young man who governs the state of Kogi from the Lugard House in Lokoja today one of Nigeria’s best performing governors? Yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes Is his reign over Kogi dull and uninteresting? The answer is a resounding NO. So you might be wondering why he treats his political foes like ants and honey. Don’t worry about it; they criticize him, oppose him, and lie about him and the State of Kogi because he isn’t part of the cult of egocentric and self-serving political operators. In Kogi, he has accomplished great things and continues to do so.”

“Have you ever wondered why there has been an uncanny desperation to strip Kogi State of her well-deserved status as the safest state in the North and the second safest state in Nigeria? It’s all about 2023 politics. It’s about self-serving politicians and their ungodly quest for power, which is devious, foul, impish, and impious in every way. But don’t lose hope just yet; security agencies in Kogi are compiling a list of the provocateurs’ names and sponsors, and will, as always, bring them to justice. Yahaya Bello has kept that promise several times, and according to the rumour mill, almost all of the fleeing convicts are back in custody following the staged jailbreak a few days ago. Tell them we’re keeping an eye on them.”

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“If they aren’t planning violence, they are promoting lies in the media,” says the author. They are lying and paying the media to make mountains out of mole hills if they are not procuring and sponsoring violence. And when they’re not lying about salaries that have since been paid, they’re sponsoring lies in the media about corruption and monies allegedly fixed in banks, stories that are both unfounded and demonic. How much more perplexed and devious can they get? But their lies aren’t going to stick.”

“There is a growing hoard of soulless lie mongering, rumour churning, falsehood growing, deception cultivating, blackmail dishing, and tale feasting political hirelings working against Kogi State and Yahaya Bello, and their brief is satanic and wicked. Their lies, on the other hand, will not stick because we are ready, willing, and able to pierce their devious script with the bludgeoning fervency of TRUTH.”

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“The truth is that Kogi State, under the watchful eye of Governor Yahaya Bello, the 46-year-old Technocrat in Lugard House affectionately known as GYB, is the safest state in the north and the second safest state in Nigeria, as determined by all available security index locally and internationally.”

“The truth is that Kogi State is Nigeria’s most gender sensitive state, with the country’s longest-serving female Secretary to State Government, mind-boggling minimums such as females serving as Local Government Council Deputies in all Local Governments where men serve as Chairmen, females serving as Speakers of all Local Government Council Legislatures, and the only female ADC to a Governor. Kogi State stands out as a shining example of what good governance and leadership should look like.”

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“The truth is that Kogi State is at the top of the list when it comes to servicing and reducing local debts. Yahaya Bello, the Accountant and Auditor who also happens to be the Governor of Kogi State, has clearly excelled in the management of the state’s resources, as evidenced by his ability to service and reduce the state’s local debts in addition to effectively running the state. So tell the liars and peddlers of lies against GYB that their lies will not stick, and that truth will always triumph over lies.”

“The truth is that Kogi owes none of her employees, and Kogi State owes no Medical Doctors or Health Workers. As a result, we will continue to debunk the perfidy and chicanery of political operatives and their paymasters; yes, their lies will not stick, because Kogi will remain a question mark on their conscience, nay on our collective conscience”.

“The truth is that Lokoja, Kogi State’s capital, is currently one of Africa’s fastest growing cities. Do your homework and avoid the deception of blackmailers and haters who are awestruck by the capacity and competency of the magician known as Governor Yahaya Bello GYB”.

“The truth is that under GYB’s supervision, one of Nigeria’s most functional rice mills is located in Kogi State. The largest health facility in West Africa is nearly completed in Kogi State. Today, Kogi State has one of Nigeria’s most effective skill acquisition programs, and the state is one of the most agriculturally friendly in the country. So, when you hear the lies of the conscienceless politicians out there, confront them with the unmistakable truths that we have presented to you.”

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“We will continue to expose the lies that they spread about GYB while also correcting the record. And we will not stop confronting their lies with the unwavering and redeeming power of TRUTH.”

“From now until 2023, we will continue to drum up and consistently raise the phenomenal Youth known as GYB as the bastion of the new deal for Nigeria. And we will continue to urge our country to focus on ideas and policy rather than lies and mudslinging. Nigeria is blessed by God.” He stated

BREAKING: Unknown gunmen assassinate Miyetti Allah Chairman in Kaduna

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Abubakar Abdullahi, the chairman of the Miyetti Allah Cattle Breeders’ Association of Nigeria, was assassinated in Lere LGA, Kaduna state, by unidentified gunmen.

The attack happened early Friday morning, according to Ibrahim Bayero Zango, MACBAN’s Director of Media and Publicity in Kaduna. He said the armed men stormed the Chairman’s house and demanded N20 million from him.

Before they whisked him away and shot him dead on the Saminaka-Mariri-Zango highway, he told them he didn’t have.

“One of our members called early this morning to inform the leadership of the state branch of MACBAN that unknown gunmen attacked the home of the chairman of MACBAN in Lere LG and killed him,” Zango said.

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“When they arrived at his house around 1:00 a.m., they demanded N20 million from him in exchange for his life, but he told them he didn’t have any money.”

“Despite the fact that he was able to raise N250,000 for the assailants, they took him to the outskirts of town along the Saminaka-Mariri-Zango highway and shot him to death.”

Lagos APC will adopt consensus candidates for the October congress

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The Lagos APC Caretaker Committee has reiterated the likelihood of using consensus arrangements to elect state executives at the state congress on October 2.

Seye Oladejo, the party’s spokesman in the state, gave this indication on Thursday.

During the Ward and local government congresses on July 31 and September 4, the ruling party used the consensus option to elect its executives.

Mr. Oladejo stated that the consensus arrangement would be repeated in the upcoming state congress election in order to reduce acrimony within the party when officials are elected.

Mr Oladejo stated, “The national headquarters has advised the state chapter to consider a consensus arrangement for the state congress as well,” adding, “I believe this will be adopted for the national convention.” “I’m sure you’re also aware that, in order to save money, the party constitution allows for a consensus candidate option.”

According to him, the party had “resolved and directed officers of our party” at all levels to engage in dialogue in order to bring aggrieved APC members back together.

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“This is to ensure that all members who are willing to serve the party are given positions in the various executive bodies at the ward, local, and state levels,” he added.

Babatunde Balogun, the APC Lagos chairman, also assured members of the party’s readiness to ensure a smooth election on October 2.

 

The chairman explained that the party’s national leadership had made all necessary preparations to ensure the exercise’s success.

After 14 years, a 6-year-old girl is reunited with her mother

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After 16 years, a girl who was kidnapped by her father at the age of six has been reunited with her mother.
After 14 years apart from her mother, Angelica Vences-Salgado, Jacqueline Hernandez has finally found her mother.

Hernandez contacted her mother via social media, telling her she was her long-lost daughter and that they should meet on September 10 at the US border in Texas.

The meeting was planned, but it was interrupted at the Laredo border crossing to ensure that Jacqueline was who she claimed to be.

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The police confirmed that the documents were genuine and that Hernandez was who she claimed to be.

‘Based on the documentation provided to (…) agencies by Angelica and the Clermont Police Department, they determined that the female was indeed Jacqueline Hernandez, who was abducted from her mother in 2007.’ said the police.

Jacqueline Hernandez’s father, Pablo Hernandez, was believed to have kidnapped her in 2007 and taken her to Mexico, according to Florida law enforcement. Mr. Harnendez is being sought by the Clermont Police Department and the FBI.

Despite her disappointment at not being able to be a part of her daughter’s childhood, the enraged mother told Fox News that she would celebrate her daughter’s return home.

MTN Nigeria will issue a N89.999 billion bond

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MTN Nigeria Communications Plc is planning to issue up to 89.999 billion in Series 2 Bonds.

According to an email sent to investors by Chapel Hill Denham Advisory Limited and seen by Niarametrics, this is the case.

The message is as follows:

“Chapel Hill Denham Advisory Limited is pleased to inform you of the upcoming launch of MTN Nigeria Communications Plc’s (“MTN Nigeria’s”, ‘’the Company’s” or the “Issuer’s”) Series 2 Bonds of up to ₦89.999 billion (‘’the Issuance” or ‘’the Offer”) under its ₦200 Billion Bond Issuance Programme.

MTN Nigeria is the leading telecommunications operator in the largest telecommunications market in Africa. The Company is the largest mobile operator and undisputed market leader in Nigeria as measured by total mobile subscribers (c. 68.9 million), and active data users (c. 32.5 million). MTN Nigeria is well-positioned for the long term with its unmatched investments in its infrastructure – most expansive 2G, 3G, and 4G network, largest fibre network (c. 30,000km) spanning across Nigeria, largest physical and digital distribution platform, and wide range of spectrum holdings – coupled with the exciting Nigerian market opportunity.

Most recently, MTN Nigeria’s credit rating was upgraded to the highest possible long and short-term corporate rating of “AAA” by GCR. MTN Nigeria is the first mobile network operator in Africa and is one of two corporates in Nigeria to be accorded such ratings. The rating is a reflection of the Company’s very strong competitive position, as well as its strong earnings and cash flow, which have supported a robust financial profile. The ratings further reflect MTN Nigeria’s experienced and dedicated management team, and the beneficial relationship with MTN Group – Africa’s leading cellular telecommunications company servicing over 251 million subscribers, with strong presence in 21 countries (including the Middle East).”

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The following is a summary of the proposed Offer’s indicative terms:

MTN Nigeria Communications Plc is the issuer.

(Issuer) Ratings: AAA (GCR); Aa (Agusto & Co.)

(Issue) Ratings: AAA (GCR); [•] (Agusto & Co.)

Chapel Hill Denham Advisory Limited is the lead issuing house.

Stanbic IBTC Capital Limited, DLM Advisory Limited, FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited, Rand Merchant Bank Nigeria Limited, and Vetiva Capital Management Limited are among the joint issuing houses.

N200 billion is the size of the program.

Issue Size: N89.999 Billion Naira

Rate of Interest: Fixed

Bonds are ranked as follows: Issuer’s Senior Unsecured Obligation

2nd series

Duration: ten years

7-year moratorium on principal redemption, then amortization in three equal annual installments until maturity.

[•] percent – [•] percent Price Guidance

The offer will be open until September [•], 2021.

Offer deadline is September [•], 2031.

Use of Proceeds: Financial Optimization and Network Expansion

Minimum subscription: N10 million, with subsequent subscriptions in multiples of N1 million.

FMDQ Securities Exchange Limited is a company that trades on the FMDQ Securities Exchange.

FUTA’s founding reasons are still valid 40 years later -VC

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Professor Joseph Fuwape, Vice Chancellor of the Federal University of Technology Akure (FUTA), has stated that the institution has justified its establishment, which is to promote science and technology education in Nigeria and contribute to the country’s scientific and technological advancement. The Vice Chancellor made the statement during a press conference marking the university’s 40th anniversary, which will be held on September 16, 2021.
Professor Fuwape stated that FUTA, which was founded in 1981, has grown to become the country’s most research-intensive university and has made outstanding contributions to Nigeria’s education sector through sterling distinctions received by students, staff, and alumni, as well as delivering on its core mandates creditably well in the last forty years to the public’s admiration. According to him, FUTA’s consistent upward placement on the Nigerian webometric ranking table, where it was ranked 7th as of July 2021, is proof of this.

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The Vice Chancellor stated that the university has made significant contributions to national development over the years through critical research breakthroughs and the production of over 35, 000 graduates who are trailblazers in various fields of human endeavors both locally and internationally. He noted that FUTA has provided Vice Chancellors, Rectors, Registrars, Librarians, and Bursars to Nigeria’s tertiary education system as a major supplier of critical manpower to other higher institutions.

“The story of the Federal University of Nigeria Akure thus far is indicative of a glorious future that should place it in high regard among its contemporaries,” Professor Fuwape said. From the beginning, the university was designed and programmed to be great. It has contributed to the nation’s socioeconomic advancement through teaching and learning, research, equipment fabrication, application of research findings and techniques to public needs, and the production of students with high-quality academic credentials.”

“There is no doubt that FUTA is one of Nigeria’s most peaceful universities, with all of its academic programs fully accredited by the NUC,” he said. FUTA is a leader among its peers, setting the standard for high-quality scholarship, professionalism, and manpower development in science, technical, and engineering education. “Forty years of sterling contributions to Nigerian technological advancement and human capital development”

“With the dogged pursuit of alternative sources of income coupled with sustained allocation of financial resources by the proprietors, the large array of human resource in all its spheres of knowledge, and the deft managerial competencies of the resources by managers led by the Vice Chancellor, the Federal University of Technology, Akure is destined for a bright future in the ac,” Fuwape said.

For their immense contributions to the growth and development of the University, the Vice Chancellor thanked successive governments in Ondo State and Nigeria, the host community of Akure, past principal officers and members of the governing council, FUTA Alumni worldwide, and benefactors from within and outside the country.

The Vice Chancellor invited the general public to take part in the 40th anniversary activities, which include scientific product exhibitions, interactions with Chief Executives of Companies with a Science and Technology Focus, an open day at the University’s Technology Incubation Centre, Students and Alumni Days, Lectures, and related functions by Schools and Deparments, as outlined in the program. The Anniversary events, which will be coordinated by a Task Team led by Professor Tomola Obamuyi, will take place from September 17 to November 27, 2021, the day of the grand finale, he said.

Businesswoman kicks as Customs auctioned an imported vehicle

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Adetoro Olowe, a businesswoman, has accused the Nigeria Customs Service of selling a car she imported from the United States and for which she had fully paid the duties.

Olowe imported a Mercedes Benz Dodge Sprinter with chassis number WD5PD644345651104, according to Metro, but was unable to clear it due to ill health.

The Osun State native explained that by the time she cleared the vehicle at the port, it had already been moved to Ikorodu by Customs.

The woman, who is also a clearing agent, claimed that despite paying all necessary fees, she was unable to get her vehicle out and that the agency auctioned the vehicle without her knowledge.

The vandalized vehicle’s interior
“The bus was shipped to Nigeria in 2019,” she said. I wasn’t feeling well when it arrived in the country, but I paid the Customs duty three months later.

“When I paid, the shipping company’s telex was delayed, causing the vehicle to enter overtime.

“I had already left the job at the Customs gate, but all I needed to do now was pay the shipping company and pick up my vehicle.

We’ll make sure Buhari’s new loan request is thoroughly scrutinized – Reps

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The House of Representatives has stated that the N4.89 trillion that President Muhammadu Buhari’s (retd.) administration planned to borrow to cover the budget deficit in 2022 will be thoroughly scrutinized.

Benjamin Kalu, the Chairman of the House Committee on Media and Public Affairs, stated this while briefing journalists on the House’s activities on Thursday.

The Federal Government proposed borrowing N4.89 trillion in domestic and foreign loans to cover the N5.62 trillion budget deficit in 2022.

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The highlights of the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper presented to the House contain this information.

However, Kalu stated that after the details of the loans were provided, the House would conduct thorough scrutiny before voting on their approval.

“There is a projected new borrowing of N4.89 trillion,” he said.

“We are considering approving it on the condition that the details of the borrowing plan and where it will be used are provided because it was reflected in the MTEF.

“Now, when you break down this proposed expenditure for 2022, which is N13.89 trillion, you have a makeup of N6.21 trillion in total recurrence, N6.21 trillion in non-debt, N3.47 trillion in personnel costs by MDAs, and N3.26 trillion in capital expenditure exclusive of transfers.

“Special intervention capital of N10 billion and special intervention recurrence of N350 billion.

” We believe these should be approved, but subject to House debate.