Omokore Visits EFCC

OmokoreThe Chairman of Atlantic Energy, Mr Olajide Omokore, has been explaining his encounter with the EFCC.

He told Channels Television that he visited the EFCC office in Abuja on his own volition and that he was not arrested or picked up by the commission’s agents.

He explained that during his long conversation, he was not told of any charges related to corruption or money laundering.

Reuters News Agency had reported that Mr Omokore was arrested for charges related to corruption and money laundering.

UK Court Seizes Diezani’s Money

DiezaniBritain’s National Crime Agency (NCA) has obtained permission from the Westminster Magistrate’s Court on Marylebone Road, London to temporarily seize 27,000 pounds that is about $41,000 from former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke.

An Administrative Officer at Westminster Magistrates’ Court said that the NCA had applied to the court for an order to seize various sums of money in relation to Alison-Madueke and two other women for up to six months.

No details were given on the link between the three women.

Earlier reports on Monday suggested that the former minister had appeared in court, but this turned out to be incorrect.

Mrs. Alison-Madueke also failed to appear at the Charing Cross Police Station where she was expected to report on Monday according to reports from Friday night when she was granted bail.

Conflicting Reports Trail Diezani Alison-Madueke’s Court Appearance

Alison-MaduekeThere are conflicting reports about the appearance of Nigeria’s former Petroleum Minister, Diezani Alison-Madueke, at the Westminster Magistrate Court in London on Monday.

At the Charing Cross Police Station, in London on Monday, our correspondent, Doris Okenwa, did not see any sign of Mrs Alison-Madueke early in the morning.

She waited for several hours before also visiting the magistrate court without any trace of the former minister.

This afternoon, however, BBC correspondent, Sam Eiranty, tweeted that he sighted the former minister and her mother at the magistrate court early in the morning.

No detail was given as to whether she has been charged and when she is due to return to court.

Mrs Allison-Madueke was arrested on Friday morning but was granted bail and asked to return to court on Monday.

She was arrested by the National Crime Agency along with four other people and is being investigated for alleged bribery, corruption and money laundering.

She denied any wrong doing when accused by the then Central Bank Governor, Sanusi Lamido Sanusi, who is now the Emir of Kano, of alleged misappropriation of $20 billion oil money.

Mrs Alison-Madueke was Petroleum Minister between 2010 and 2015.

 

Former Petroleum Minister, Diezani Alison-Madueke Granted Bail

Alison-Madueke
Nigeria’s former Petroleum Minister, Mrs Diezani Alison-Madueke, who was arrested in London on Friday, has been granted bail.

She was granted bail by a Magistrate Court in London after she had been detained for several hours.

Reports say that the former minister’s international passport has been seized.

The UK National Crime Agency on its official website says that its recently formed International Corruption Unit has arrested five people across London as part of an investigation into suspected bribery and money laundering offences.

Mrs Alison-Madueke was arrested in London on Friday along with four other persons in relation to corruption allegations being investigated by the UK National Crime Agency.

Meanwhile, the Presidency in Nigeria has declined to comment on the arrest of the former Petroleum Minister.

Presidency Silent On Diezani Alison-Madueke’s Arrest

Alison-Madueke The Presidency in Nigeria has declined to comment on the arrest of former Petroleum Minister, Mrs Diezani Alison-Madueke.

When asked to confirm if the arrest was based on the request of the Nigerian Government, the response from the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, was “I will get back to you”.

Mrs Alison-Madueke was arrested in London on Friday along with four other persons in relation to corruption allegations being investigated by the UK National Crime Agency.

Former Petroleum Minister, Diezani Alison-Madueke Arrested In UK

Diezani The immediate past Minister of Petroleum Resources, Diezani Alison-Madueke, has been arrested in London.

Mrs Alison-Madueke was arrested along with four other persons in relation to corruption allegations being investigated by the UK National Crime Agency.

Mrs Diezani Alison-Madueke has been in London for some time, reportedly on health grounds.

Under her watch the then CBN Governor, Sanusi Lamido Sanusi, alleged missing funds in the Nigerian National Petroleum Commission (NNPC), amounting to 20 billion dollars.

Few days ago at the UN General Assembly, President Muhammadu Buhari had made it clear that those who misappropriated billions of naira belonging to the Nigerian National Petroleum Corporation would soon be prosecuted.

It is not yet known if Mrs Allison-Madueke’s arrest was based on a request from the Nigerian Government.

It was alleged earlier in the year that the former Petroleum Minister, who was one of the closest to the administration of former President Jonathan, would flee the country, to avoid being prosecuted over allegations of fraud, especially in the NNPC.

This was following the defeat of the former President at the Presidential election in April.

She, at the time, denied seeking asylum in any part of the world, stating that the Jonathan administration had done a lot in the Oil and Gas industry that cannot be rubbished by malicious claims.

Nigeria’s Petroleum Minister, Alison-Madueke Elected OPEC President

OPECNigeria’s Petroleum Minister, Mrs Diezani Allison Madueke, has been elected as President of the Organisation of Petroleum Exporting Countries (OPEC).

Alison-Madueke’s election as President of OPEC took place on Thursday at the ongoing 166th ordinary meeting of the Organisation, taking place in Vienna, Austria.

She becomes the first female to be elected into that position, and replaces Libya’s Vice Prime Minister for Corporations, Abdourhman Atahar Al-Ahirish, who was occupying the position.

Before her election, Mrs Alison-Madueke was the alternate president of OPEC and is expected to immediately begin to serve her one-year term at the helm of OPEC affairs.

It is expected that OPEC, during its ongoing 166th meeting, would make key decisions that could halt the dwindling price of crude oil.

Diezani K. Alison-Madueke, born 6 December 1960, became Nigeria’s Minister of Transportation on July 26, 2007. She was moved to Mines and Steel Development in 2008, and in April 2010 was appointed Minister of Petroleum Resources.

In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries, OPEC, is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.

N979.6m Subsidy Fraud: EFCC Says Suspects Have Escaped To Canada

Oluwaseun OgunbamboOne of the major oil marketers on the wanted list of the EFCC, Mr Oluwaseun Ogunbambo, may have fled to Canada.

The Economic and Financial Crimes Commission, EFCC, told an Ikeja High Court on Thursday that the suspect fled to Canada to avert justice.

Mr Oluwaseun is charged with receiving 979.6million Naira from the Federal Government without supplying any petroleum product.

According to spokesman of EFCC, Mr Wilson Uwujaren, the suspect now at large and another oil marketer Habila Theck and their company, Fargo Energy Limited were facing trial for defrauding the Government of 979.6million Naira.

The defence counsel, Mr Raphael Oluyede, said that Ogunbambo was absent in court because he was recently attacked by some unknown gunmen, who had wanted to abduct him.

The prosecutor, Mr Emmanuel Jackson, however, debunked the claim that Ogunbambo was attacked by unknown gunmen. He stated that it was evident that he was no longer in Nigeria.

“He has abused the liberty of being granted bail and his action is making the criminal law to look like a toothless bulldog”, he said.

Sanusi Says Suspension No Surprise, To Seek Legal Clarification

The suspended CBN Governor, Lamido Sanusi has said that he may have to seek some form of legal advice over his suspension by the Nigeria’s President, Goodluck Jonathan.

Mr Sanusi spoke to CNBC on the telephone on Thursday morning and he said that his suspension did not come as a surprise, saying he was rather surprised that it had taken this long.

Reacting to the allegations of financial recklessness, the suspended Governor said that he was aware of the audit of the reporting council and that all the questions and concerns that were raised, he had provided answers to.

“We all know what this is about. This is about consequences for decisions I have taken. This is something that is long overdue. I am surprised it took them so long”, he said.

Mr Sanusi went further to say that he may have to cross check the powers of the President to suspend a CBN Governor.

He said, “Even if I challenge it, I am not going back to the job, it will be in the interest of the institution to cross check once and for all if the President has the power to do this. The reason is if it’s not challenged, for now the next CBN Governors will not be independent for fear of being suspended by politicians. I do plan to have the courts confirm if indeed that authority exists and I will challenge it.”

When asked about the implications of his suspension on the market, Mr Sanusi said, “Basically, my concern is for the safety of the market, I have had a wonderful time in service to my country. I would not want to see all of my work unravelled. No individual is worth it.”

Mr Sanusi said that he was in Niamey along with other Governors of West African Central Banks to meet with the President of Niger and President of Ghana, when the information reached him. He left the meeting to hand over to his deputy, Dr. Sarah Alade, whom he had been asked to hand over to and who “fortunately” was with him in Niamey, capital city of the West African country, Niger.

Sanusi’s Suspension A Distraction From Finding Missing $20 Billion Oil Money – SERAP

Socio-Economic Rights and Accountability Project (SERAP) has described the suspension of the Central Bank Governor, Lamido Sanusi as “a distraction and can only contribute to shifting the focus of the Government from the real issue, which is finding the missing $20 billion oil money.

SERAP, in a statement on Thursday by its Executive Director, Adetokunbo Mumuni, said that, “The Government should not politicise the fight against corruption. Our concern remains the urgent, thorough, transparent and effective investigation into allegations that $20 billion oil money is missing from the account of the Nigerian National Petroleum Corporation (NNPC).

“If it is true that the suspension is linked with Sanusi’s public disclosure of the missing funds, SERAP believes that this will be clearly wrong and contrary to the Government’s obligations under the UN Convention against Corruption to target a whistle-blower simply for putting the information in the public domain. No one should be victimized for contributing to the fight against corruption, which is the moral and legal responsibility of any serious, open and people oriented government.

“Unless the Government comes clean about what exactly has happened to the $20 billion missing oil money, the NNPC will remain unaccountable to Nigerians for its action. This will not be consistent with the attitude of a government establishment funded with tax payers’ money.

“The Government’s action in finding the missing money and punishing suspected perpetrators is critical if it is to enjoy the trust and confidence of Nigerians in the fight against corruption.”

Jonathan Suspends CBN Governor, Sanusi

The Nigerian President, Goodluck Jonathan, has suspended Mr. Sanusi Lamido Sanusi from his position as the Governor of the Central Bank of Nigeria.

The suspension was announced in a statement signed by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati.

The statement read that, “Having taken special notice of reports of the Financial Reporting Council of Nigeria and other investigating bodies, which indicate clearly that Mallam Sanusi Lamido Sanusi’s tenure has been characterised by various acts of financial recklessness and misconduct, which are inconsistent with the administration’s vision of a Central Bank propelled by the core values of focused economic management, prudence, transparency and financial discipline;

“Being also deeply concerned about far-reaching irregularities  under Mallam Sanusi’s watch which have distracted the Central Bank away from the pursuit and achievement of its statutory mandate; and being determined to urgently re-position the Central Bank of Nigeria for greater efficiency, respect for due process and accountability, President Goodluck Ebele Jonathan has ordered the immediate suspension of Mallam Sanusi Lamido Sanusi from the Office of Governor of the Central Bank of Nigeria.

“President Jonathan has further ordered that Mallam Sanusi should hand over to the most senior Deputy Governor of the CBN, Dr Sarah Alade, who will serve as Acting Governor until the conclusion of on-going investigations into breaches of enabling laws, due process and mandate of the CBN.

“The President expects that as Acting Governor of the Central Bank, Dr. Alade would focus on the core mandate of the Bank and conduct its affairs with greater professionalism, prudence and propriety to restore domestic and international confidence in the country’s apex bank.

“The Federal Government of Nigeria reassures all stakeholders in Nigeria’s financial and monetary system that this decision has been taken in absolute good faith, in the overall interest of the Nigerian economy and in accordance with our laws and due process.”

 

Sarah Alade To Serve As Acting CBN Governor

Dr Sarah Alade, will serve as Acting Governor of the Central Bank until the conclusion of on-going investigations into breaches of enabling laws, due process and mandate of the CBN.

This is following President Goodluck Jonathan’s suspension of Mr. Sanusi Lamido Sanusi from his position as the Governor of the Central Bank of Nigeria, on Thursday, in a statement signed by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati.

Dr. Sarah Omotunde Alade was the most senior Deputy Governor of the CBN and was appointed Deputy Governor (Economic Policy) Central Bank of Nigeria on March 26, 2007.

She attended the University of Ife, Ile-Ife (now Obafemi Awolowo University) where she obtained a B.Sc (Hons) degree in Economics in 1976. She also obtained an M.Comm degree at the University of Melbourne, Melbourne, Australia in 1983 and a Ph.D Management Science (Operations Research), from the University of Ilorin in 1991.

Dr. Sarah Alade commenced her working career in 1977 with the Ministry of Finance and Economic Development, Ilorin, Kwara State. In 1991, she joined the University of Ilorin as a Lecturer in the Department of Accounting and Finance. She joined the Central Bank of Nigeria in 1993 as an Assistant Director in the Research Department where she served as Head, State Government Finance Office (1993-1996), Head, Federal Government Finance Office (1996-2000) and Head, Fiscal Analysis Division (2000-2004).

Dr. Alade has served on the teams on major economic policy studies, and has been involved in the preparation of Central Bank of Nigeria’s Monetary and Credit Policy Proposals over the years. She was actively involved in the drafting of the Medium Term Economic Programme (MTP) for Nigeria and the IMF staff Monitored Programme/Standby Arrangement.

Dr. Alade was appointed Director, Banking Operations Department in May 2004. In that capacity, she served as Chairman Board of Directors, Nigeria Interbank Settlement System (NIBSS) as well as Secretary, National Payments System Committee (NPSC).

Dr. Alade was a member of the Technical committee of the Vision 2010 and currently a member of the Technical Committee of Vision 2020 and member of the National Economic Management Team (EMT).

As Deputy Governor, Economic Policy, Dr. Mrs. Alade superintends over the Economic Policy Directorate, comprising the Research, Monetary Policy, Trade and Exchange, Statistics Departments and Financial Markets Department. As Chair of the Monetary Policy Implementation Committee (MPIC), she interfaces with operational departments and coordinates technical inputs for the Monetary Policy Committee (MPC).

Dr. Alade, who is a member of the Nigerian Economic Society (NES), has several publications to her credit and is currently carrying out research into Interest Rate Policy and Monetary Policy Implementation in Nigeria. Dr. Mrs. Alade is a Fellow of the Nigerian Institute of Operational Research. She is married with children.

“The President expects that as Acting Governor of the Central Bank, Dr. Alade would focus on the core mandate of the Bank and conduct its affairs with greater professionalism, prudence and propriety to restore domestic and international confidence in the country’s apex bank.