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Nigeria’s Excess Crude account stands at $2.09bn – NEC

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The National Economic Council (NEC) says Nigeria’s Excess Crude Account stood at over $2.09 billion as at Oct. 16.

Bauchi State Governor, Mohammed Abubakar, said this while briefing State House correspondents after NEC meeting on Thursday at the Presidential Villa, Abuja.

Abubakar said that the Minister of Finance, Zainab Ahmed, gave the update on the Federation Account Allocation Committee (FAAC), Excess Crude Account, Stablisation Fund Account and Natural Resources Development Account.

“She presented a budget estimate for the FAAC meetings of 2018; usually these budgets estimates are prepared by the Office of Accountant General and tabled before the NEC for approval.

“A total budget of N650 million was approved for the conduct of the FAAC meetings for 2018, later on the minister gave update of the Excess Crude Account as at Oct. 16, 2018 which stood at 2.09 billion dollars.

“The Stablisation Fund Account stands at N21.9 billion and then the Natural Resources Development Fund stands at N119. 7 billion.’’

He said that there was also an update on the ad hoc committee set up by NEC to address the problem of crude oil theft and its prevention and control.

Abubakar said that the committee used to be headed by the then Governor of Delta State, Dr Emmanuel Uduaghan, but NEC had approved the nomination of Edo State Governor, Godwin Obaseki, to head the committee.

The other governor members of this committee are governors of Akwa Ibom State, Delta, Bayelsa, Cross River and Ondo.

He listed other members of the committee as the Ministers of Budget and Planning, Finance, Petroleum Resources, and representatives of the all the security agencies in Nigeria.

Abubakar said that the Minister of Youths and Sports, Solomon Dalung, gave a presentation on the sporting activities that were conducted by his ministry.

He said that Dalung spoke specifically on the National Youth Games and the National Sports Festival.

“He indicated that the National Youth Games has been held successfully with 32 states participating and that the next edition of the National Sports Festival is in high preparation.

“The Minister of FCT has agreed to host the 19th edition of the National Sports Festival. He called on governors to support the process by preparing participants on time and supporting their participants to the venue.

“Giving adequate security for the participants including also kitting the participants for the festival as well as paying their participation fees to the organisers of the festival, ‘’ he said

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PDP alleges plots to arrest Atiku, Obi, Saraki, Dogara

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PEOPLE’S Democratic Party (PDP) National Chairman Prince Uche Secondus has raised the alarm, alleging plots by the Economic and Financial Crimes Commission (EFCC) to arrest some key leaders of the opposition party on trump up charges.

Secondus listed the PDP presidential candidate, Atiku Abubakar; his running mate, Peter Obi; Senate President Bukola Saraki and House of Representatives Speaker Yakubu Dogara and the party’s other leaders as some of those marked for arrest.

But, the Presidency denied the reports claiming that the Buhari-led government ordered raid on the home of PDP presidential candidate’s son and the alleged blockage of the Obi’s bank accounts and his family.

A statement by the Senior Special Assistant on Media and Publicity, Garba Shehu, said the reports are manifestation of the PDP’s growing expertise in fake news.

He called on the public to disregard the reports.

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EFCC denies arresting Atiku’s sons

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The Economic and Financial Crimes Commission (EFCC) has denied arresting the sons of Presidential Candidate of the People’s Democratic Party (PDP), Alhaji Atiku Abubakar.

EFCC’s Acting Spokesperson, Mr Tony Orilade, made the denial in a statement in Abuja, on Monday.

According to Orilade, we have received several calls and e-mail messages asking us to confirm the arrest of the sons of Abubakar as being alleged in some quarters.

”Some only said we raided the apartments of Atiku’s sons looking for foreign currencies.

”This is nothing but another tales by moonlight.”

He said that the commission, as a responsible organisation, was abreast of the establishment mandate and shall not deviate from such mandate.

”We never went after Atiku’s sons, neither were Atiku’s sons among the two boys arrested.”

The spokesperson, however, said “it is in the news that we have been investigating the former Abia governor, Sen. Theodore Orji, over alleged N27 billion money-laundering.

”In the course of investigation, we discovered that he laundered part of the money through his sons.

”We have been on the trail of some of the purchases made by his sons, including the cars the boys allegedly bought.

”There is no link whatsoever to Atiku.” (NAN)

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Alleged 1.4bn fraud: I’m innocent – NBA President cries out

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President of the Nigeria Bar Association (NBA), Mr Paul Usoro, says he is innocent of the N1.4 billion money laundering charges brought against him by the Economic and Financial Crimes Commission (EFCC).

Mr Usoro stated this while fielding questions from reporters on Sunday after the NBA National Executive Committee (NEC) meeting in Abuja.

He said, “I haven’t been served. I expect I will be served but the facts as I know it, I am completely innocent and the facts as I know it, I presented it in the address that was adopted by NEC.”

“Assuming that there was something that was done; except the association itself makes a complaint to the EFCC or any of the other criminal investigating agencies, then they don’t have any basis having to come in into what we are doing,” Usoro added.

“We are an association of lawyers; we have a way of regulating ourselves.”

The NBA President, however, said he would appear in court.

He further called for a legislation that would prohibit media trial of persons in court.

According to him, the situation if not addressed will lead to maligning of character whether or not one is innocent or guilty of the offence he is charged with.

The EFCC had filed 10 counts of fraudulent conversion of N1.4bn against the NBA President before Justice Muslim Hassan of the Federal High Court sitting in Lagos.

In the first count, the EFCC alleged that Mr Usoro and some persons conspired in 2015 to convert the sum of N1.4bn property of the Akwa Ibom State Government which they ought to have known formed part of the proceeds of crime.

The others accused by the anti-graft agency are Governor Emmanuel Udom of Akwa Ibom State (who currently enjoys constitutional immunity against criminal prosecution), as well as the state’s Commissioner for Finance, Nsikan Nkan; the Accountant-General, Mfon Udomah; the Attorney General and Commissioner for Justice; Uwemedimo Nwoko; and Margaret Ukpe.

The EFCC counsel, Mr Rotimi Oyedepo, who signed the charge sheet said the offences were contrary to Section 18 (a) of the Money Laundering (Prohibition) Act, 2011.

Five senior advocates – Gboyega Awomolo, Tayo Oyetibo, Theophilus Oyesanya, Onyechi Ikpeazu, and Damian Dodo, have been listed as witnesses along with some bank representatives to give evidence in the matter.

The commission said it would arraign Mr Usoro on Monday, December 10.

-ChannelsTV

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