The Minister of Foreign Affairs, Geoffrey Onyeama, on Monday, assured Nigerians that negotiations are ongoing with a number of countries on modalities for the repatriation of some of the funds that were stolen and stashed abroad.
The minister stated that the Federal Government is in touch with Switzerland, which he said had repatriated $700m, noting that another $300m that was recovered would soon be repatriated to Nigeria.
Speaking in an interview with journalists in Abuja, Onyeama stated that the FG was in discussion with the United Kingdom, the United States, among other foreign governments on how all looted funds could be recovered.
He said, “We are in touch with Switzerland; they have recently recovered quite a significant amount of money and I met last week with Swiss representatives to work out the modality for the repatriation of this fund.
“The Swiss government has already repatriated over $700m from Abacha loot and that agreement has been reached on how the money would be applied.
“They have also now recovered in the same context another $300m of which there is ongoing discussion to have that repatriated as well. There are discussions with other countries; United Kingdom for instance, as you all know where there are ongoing discussions there.”
The minister explained that the goodwill generated by President Muhammadu Buhari’s visits to the US and other countries had helped enormously in getting various countries to cooperate with Nigeria on the fund repatriation issue.
PUNCH
Monday, January 11, 2016
Associate of President Buhari returns N100million to Economic and Financial Crimes Commission
A former military governor of Kaduna State and chieftain of the ruling All Progressives Congress, Jafaru Isa, has refunded N100million of the N170 million he allegedly received from embattled ex-NSA, Sambo Dasuki.
Mr. Isa, a retired brigadier-general, was arrested on Wednesday by operatives of the Economic and Financial Crimes Commission, at his Asokoro residence in Abuja.
Mr. Isa, a political associate of President Muhammadu Buhari, was grilled for several hours in connection with about N170 million he received from Mr. Dasuki.
A reliable source familiar with the matter told PREMIUM TIMES the APC chieftain and member of the 19-man Buhari Transition Committee was released after refunding N100million to the anti-graft commission.
The source said Mr. Isa pledged to return the remaining N70million soon.
“We let him go after returning the sum of N100million. We are expecting him to return the rest soon,” the source said.
According to him, some of the suspected recipients of the slush funds who claimed they had no idea the money sent to them was taken from the public till were handed opportunities to return what they got from the former NSA but refused.
“We offered them the chance of returning the money honorably but they keep deploying tactics to avoid prosecution, while also going away with the loot,” he said.
A close associate of Mr. Isa told PREMIUM TIMES that Mr. Dasuki lodged over N100 million into Mr. Isa’s account in instalments to buy a house, located on Mohammed Mohammed Avenue, Kano, for the former NSA.
PREMIUM TIMES gathered that deposits were in turn made by Mr. Isa to the owner of the house, Ali Tukur, in two instalments.
However, the house purchase deal collapsed as a former Minister of Finance, Yarima Ngama, reportedly offered to pay the sum of N150 million cash when Mr. Dasuki reneged on the payment agreement.
Those familiar with their relationship say Messrs. Isa and Dasuki have been close friends since their cadet days at the Nigerian Defense Academy (NDA) and had spent four years together while on military training in the United States.
The Peoples Democratic Party had on Sunday protested the release of Mr. Isa barely eight hours after his arrest while its own spokesperson, Olisa Metuh, remained detained.
The PDP, in a statement signed by its National Legal Adviser, Victor Kwon, said there could be no clearer indication that the APC-led administration was on a manhunt against PDP leaders, and that it had a personal grudge against Mr. Metuh, ostensibly for his stance as opposition spokesperson, particularly his recent exchange with the government and the APC over their dictatorial activities.
““The release of Jafaru Isa, a known associate of the President and chieftain of the APC eight hours after his arrest while our spokesman remains in detention even when the two are being investigated over the same allegation clearly shows that the President Buhari-led APC government is not fighting corruption but using the much hyped crusade as a cover to persecute PDP leaders and decimate the opposition, a project the EFCC has clearly yielded itself as a willing tool,” the statement said.
Premium Times
Mr. Isa, a retired brigadier-general, was arrested on Wednesday by operatives of the Economic and Financial Crimes Commission, at his Asokoro residence in Abuja.
Mr. Isa, a political associate of President Muhammadu Buhari, was grilled for several hours in connection with about N170 million he received from Mr. Dasuki.
A reliable source familiar with the matter told PREMIUM TIMES the APC chieftain and member of the 19-man Buhari Transition Committee was released after refunding N100million to the anti-graft commission.
The source said Mr. Isa pledged to return the remaining N70million soon.
“We let him go after returning the sum of N100million. We are expecting him to return the rest soon,” the source said.
According to him, some of the suspected recipients of the slush funds who claimed they had no idea the money sent to them was taken from the public till were handed opportunities to return what they got from the former NSA but refused.
“We offered them the chance of returning the money honorably but they keep deploying tactics to avoid prosecution, while also going away with the loot,” he said.
A close associate of Mr. Isa told PREMIUM TIMES that Mr. Dasuki lodged over N100 million into Mr. Isa’s account in instalments to buy a house, located on Mohammed Mohammed Avenue, Kano, for the former NSA.
PREMIUM TIMES gathered that deposits were in turn made by Mr. Isa to the owner of the house, Ali Tukur, in two instalments.
However, the house purchase deal collapsed as a former Minister of Finance, Yarima Ngama, reportedly offered to pay the sum of N150 million cash when Mr. Dasuki reneged on the payment agreement.
Those familiar with their relationship say Messrs. Isa and Dasuki have been close friends since their cadet days at the Nigerian Defense Academy (NDA) and had spent four years together while on military training in the United States.
The Peoples Democratic Party had on Sunday protested the release of Mr. Isa barely eight hours after his arrest while its own spokesperson, Olisa Metuh, remained detained.
The PDP, in a statement signed by its National Legal Adviser, Victor Kwon, said there could be no clearer indication that the APC-led administration was on a manhunt against PDP leaders, and that it had a personal grudge against Mr. Metuh, ostensibly for his stance as opposition spokesperson, particularly his recent exchange with the government and the APC over their dictatorial activities.
““The release of Jafaru Isa, a known associate of the President and chieftain of the APC eight hours after his arrest while our spokesman remains in detention even when the two are being investigated over the same allegation clearly shows that the President Buhari-led APC government is not fighting corruption but using the much hyped crusade as a cover to persecute PDP leaders and decimate the opposition, a project the EFCC has clearly yielded itself as a willing tool,” the statement said.
Premium Times
Friday, January 8, 2016
Video - Bail for Nigeria defense minister and son set at $3 million
The High Court in Abuja, Nigeria has granted a staggering Three Million US Dollars bail, to the country's former defence Minister and his son facing money laundering charges. Bello Haliru Mohammed and Abba Bello's bail is equivalent to the money they are alleged to have stolen. As CCTV'S Kelechi Emekalam reports, the bail terms may be well beyond the accused means.
Panasonic builds assembling plant in Nigeria
Japan based electronics giant, Panasonic has established an assembly plant in Lagos to complement its manufacturing plant in India. In a statement, Shinichi Wakita, Managing Director of Panasonic, Middle East and Africa, said the company is extending the manufacturing of its air-conditioners and TV sets to the shores of Nigeria.
He disclosed that the company is making this commitment in partnership with SIMS Nigeria Limited, an electronics and home appliances marketing/distribution company in Lagos. “As a contribution towards the society which is based on our basic business philosophy, we are establishing our local manufacturing unit for air-conditioners and TVs in Lagos. We believe this will make a small contribution towards job creation and the economy of Nigeria.
“Africa is one of the fastest growing economies with a rising consumer class; setting up this manufacturing base in Nigeria is our strategy to deal with the business challenges in this market. We will be working closely with the Nigerian population with an aim to provide products which are ‘locally-fit’ and in accordance with their demands,” he said.
Andrew Uwazuruike, an electronic dealer, commended the company for its decision to establish their assembly plant in the country.
“This is a welcome development. A lot of people have been making demands for Panasonic products but we don’t really have it in the market. But now that the company has partnered with SIMS for distribution, we are very happy that we can purchase their products and sell them without stress,” he said.
An Oyo-based dealer, Dayo Fagade, described the return of Panasonic as a huge relief that will enable him provide his customers quality products offered by the company. He revealed that he has always recommended the Japanese products to its customers due to their durability, innovation and quality.
“Panasonic is a big brand that needs no further introduction. We just want to appeal to Panasonic and SIM to make the products available all across the country, especially at the beginning of the year where people buy more electronic items,” he said.
Also, a consumer in Ikeja, Suliat Farouk said she has always loved Panasonic products because of their easy-to-know features. She urged the company to further consolidate their presence in the country and also make the product available in the North where, according to her, ‘there is a big market for electronic products’.
Vanguard
He disclosed that the company is making this commitment in partnership with SIMS Nigeria Limited, an electronics and home appliances marketing/distribution company in Lagos. “As a contribution towards the society which is based on our basic business philosophy, we are establishing our local manufacturing unit for air-conditioners and TVs in Lagos. We believe this will make a small contribution towards job creation and the economy of Nigeria.
“Africa is one of the fastest growing economies with a rising consumer class; setting up this manufacturing base in Nigeria is our strategy to deal with the business challenges in this market. We will be working closely with the Nigerian population with an aim to provide products which are ‘locally-fit’ and in accordance with their demands,” he said.
Andrew Uwazuruike, an electronic dealer, commended the company for its decision to establish their assembly plant in the country.
“This is a welcome development. A lot of people have been making demands for Panasonic products but we don’t really have it in the market. But now that the company has partnered with SIMS for distribution, we are very happy that we can purchase their products and sell them without stress,” he said.
An Oyo-based dealer, Dayo Fagade, described the return of Panasonic as a huge relief that will enable him provide his customers quality products offered by the company. He revealed that he has always recommended the Japanese products to its customers due to their durability, innovation and quality.
“Panasonic is a big brand that needs no further introduction. We just want to appeal to Panasonic and SIM to make the products available all across the country, especially at the beginning of the year where people buy more electronic items,” he said.
Also, a consumer in Ikeja, Suliat Farouk said she has always loved Panasonic products because of their easy-to-know features. She urged the company to further consolidate their presence in the country and also make the product available in the North where, according to her, ‘there is a big market for electronic products’.
Vanguard
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