Tag Archives: cash

BREAKING: EFCC Intercepts N49 Million Cash At Kaduna Airport [Photos]

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In what can be described as another huge success for the agency, the Economic and Financial Crimes Commission (EFCC) has intercepted five sacks containing N49m at the Kaduna International Airport following a tip off.

Disclosing this to newsmen on Tuesday at the agency’s Kaduna Zonal office, Ibrahim Bappa said that the notes recovered were wrapped in Nigerian Security and Minting  Plc (NSPM) labels.

“The report which was made at about 8pm stated that during the routine baggage screening of supposed check in baggage, five sacks were sighted unattended to and without tags containing fresh bulk items suspected to be money from the aroma perceived from the sacks. The owner of the money later showed up but couldn’t  state the exact money in the sacks or present document authenticating the genesis of the monies,” he said.

Speaking further, he said that  the individual who failed to give concrete explanation, disappeared before the arrival of EFCC operatives.
Bappa said that the sacks were found to contain 200 bundles of N200 notes totaling N40m and 180 bundles of N50 notes totaling N9m.

The recovered money was handed over to  officials of the Central Bank of Nigeria (CBN) for custody in EFCC’s recovery account.

Airlines at Kaduna airport insist on cash payment

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Air passengers plying the Kaduna International Airport (KIA) are facing fresh hurdles as airlines operating at the aerodrome are insisting on only cash transactions.

The newly refurbished airport, which also serves as an alternative to the closed Nnamdi Azikiwe International Airport (NAIA), Abuja, is currentlyoperat without Automated Teller Machines (ATM), Point of Sale (PoS) and Bureau de Change (BDC) outlets to serve international passengers especially.

Some passengers without cash to buy tickets or prior booking arrangements are left stranded at the airport. The development is coming at a time the Federal Government is working to ensure a seamless transition, as the airport is the only route to connect the Federal Capital Territory (FCT), which is the seat of the government. Besides, the cash-only syndrome runs contrary to the cashless policy of the economy.

“There are three of the airlines heading to Lagos almost at the same time, which is good anyway. To buy ticket became the problem. The first said its PoS was not working, the other two said they did not even have at all. And this is supposed to be an international airport?

“I didn’t know how big the shit was until I asked for an ATM and they said there was none around, except if I go to town some 10 to 20kilomatres away,” he said.

Another traveller, Emmanuel, also expressed concerns on services rendered by airlines officials at the airport, who insisted on closing the counter by 4:00 p.m.

Emmanuel, who travelled by rail from Abuja yesterday to catch a Lagos flight, was shocked to find the airline’s counter closed by 4:30p.m. When he insisted on flying, since the aircraft was still on ground and seats available, he was given a bill of N28,000 instead of N16,000 promo fare. Emmanuel got a hand-written boarding pass in exchange for the N28,000.

When asked why the airline had no PoS and the counter closed early, an Arik Air official said it was the norm around there.“That is how we operate here. We don’t use PoS. You either bring your money or forget it,” the official fired back.

The Communications Manager for Dana Air, Kingsley Ezenwa said the development was unusual and they were doing everything possible to go cashless in Kaduna by today or tomorrow.

“We have been on this for a while. But it is the banks that kept delaying us. We pushed them all through last week to put the necessary things in place. We know its importance to making passengers have seamless travel experience and we will stop at nothing to have the PoS option working. If not tomorrow (today), then Tuesday latest,” he said.

The Spokesperson of the Federal Airports Authority of Nigeria (FAAN), Henrietta Yakubu, also confirmed that the banks were in the process of beginning operations at the airport, to support transactions, whether cash or cashless.

Yakubu assured that the likes of Zenith, Guaranteed Trust Bank (GTB) and First Bank were due to begin operations and open ATM facilities this week.
It was also learnt yesterday that the Nigeria International Trade and Investment Conference (NITIC) 2017 scheduled to hold this month in Abuja has been postponed.

The organisers, Africa International Trade and Development Trust, said the postponement was due to ongoing repairs on the runway of the Abuja airport.

The conference with the theme “Multiple Frontiers: Moving Away From Oil” is aimed at bringing local and international stakeholders together to discuss international trade and investment in the non-oil sector, focusing on agribusiness, manufacturing and financial services.

The event endorsed by the Federal Ministry of Agriculture and Rural Development initially scheduled to hold this month at the NAF Conference Centre in Abuja would now take place in June at the same venue.

The spokesperson for the organisers, Sand Mba Kalu said: “Efforts to convince registered participants and embassies to use the Kaduna International Airport were not successful. We have talked to several of them but they seemed not interested in coming through Kaduna airport. So, the only option was to postpone the event to June when renovation work at the Abuja airport runway would have been completed.”

Meanwhile, the United Nations Aviation School Project has commenced the training of all Aviation Security (AVSEC) personnel in Nigeria.The training, The Guardian learnt, is to effectively mitigate the threat posed to civil aviation by terrorist organisations around the world. It will also provide a key element for a robust national aviation security policy to meet global standards in infrastructure, safety and security.

The initiative would enhance the capacity within the UN system to help interested member states to implement the multiple dimension of countering terrorism.

The 120-day event tagged: ‘’Train the Trainer’’ is simultaneously ongoing in Lagos and Abuja.The UN-initiated programme comprises 34 aviation security personnel from both Nigerian Civil Aviation Authority (NCAA) and the Federal Airport Authority of Nigeria (FAAN). While NCAA has four, FAAN which provides security surveillance at all the airports has 30 participants.

The Spokesperson of the NCAA, Sam Adurogboye, confirmed that a total of 25 countries were considered and Nigeria was chosen for the pilot training.

 

Source: The Guardian

Court restrains Stella Oduah from withdrawing cash in banks.

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A Federal High Court, Lagos, has restrained Senator Stella Oduah and Sea Petroleum and Gas Company Limited and its directors from making any withdrawal whatsoever from the account of the company.

The restriction order also involves three other limited liability companies, namely Sea Shipping Agency Limited, Rotary Engineering Services Limited and Tour Afrique Company Limited.

The accounts of those firms are domiciled in 21 commercial banks listed before the court. The order followed an alleged indebtedness of $16,412,819.06 and N100,493,225.59 to Sterling Bank.

The order of the court was sequel to an affidavit sworn to by Business Manager, Sterling Bank Plc., Mr. Segun Akinsanya, filed and argued before the court by Kemi Balogun (SAN).

Akinsanya, in the affidavit, averred that on October 8, 2012, the bank granted a lease/cabotage vessel finance facility to Sea Petroleum and Gas Company in the sum of $10,069,620.25 to finance one unit 5,000MT tanker vessel.

“The loan was secured by unconditional personal guarantee of the companies’ director, Oduah, and supported by statement of her networth, legal mortgage of two property worth N135 million and power of attorney of the tanker vessel in favour of Sterling Bank.

“There was also a fully executed irrevocable standing payment order and tripartite remittance agreement between First Bank Plc, Sterling Bank and Stella Oduah,” Akinsanya swore.

He further averred that Sea Petroleum and Gas Company requested for and was granted additional facilities in the sum of $449,600 for post-delivery expenses, $642,954 and $350,000 to meet the requisite conditions in securing the release of the tanker from the federal high court.

According to him, upon the persistent failure of the defendants to liquidate their indebtedness, Sterling Bank instructed the law firm of Oluwakemi Balogun to recover the debt.

Meanwhile, Oduah and her companies while urging the court to discharge the order, also filed a preliminary objection urging the court to strike out the suit on the ground that the court lacks jurisdiction to entertain it.

Justice Abdulaziz Anka has adjourned till March 20, 2017 to decide either to vacate the order or not.

 

Source: The Guardian

N4.7 trillion withdrawn through ATMs in 2016 – NIBSS

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The Nigeria Interbank Settlement System (NIBSS) has said Nigerians withdrew N4.7 trillion through Automatic Teller Machines (ATMs) in 2016.

 

The report indicated that the value of ATM cash withdrawals rose by 22.5 percent to N4.7 trillion from N3.97 trillion in 2015.

 

President Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka said the figures showed that Nigeria is still a cash driven economy.

 

“Nigeria is still a cash-driven society. People are spending from their savings since there is no business and salaries are being owed. It is bad for the economy as investible fund is being depleted.”

 

The report also revealed that Nigerians spent N132.36 billion on online transactions in 14 million transactions.

 

63.7 million transactions worth N759 billion were made through point of sale (PoS), while 47 million  mobile payment transactions worth N756 billion were conducted through the 21 licensed mobile payment operators.

 

Source: YNaija

How I Moved Cash For Justice Ofili-Ajumogobia – Witness Tells Court

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The trial of Justice Rita Ofili Ajumogobia continued on Monday at the Lagos High Court sitting in the Ikeja area.

The first prosecution witness, Ademola Oshodi detailed in court how monies were paid and moved between the judge’s domiciliary account and her other accounts.

The Economic and Financial Crimes Commission (EFCC), had accused Justice Rita Ofili Ajumogobia of unlawful enrichment, corruption by a public officer, forgery and giving of false information to an official of the EFCC.

She is standing trial alongside a Senior Advocate of Nigeria, Godwin Obla, who was charged with offering gratification in the sum of five million Naira to Justice Ofili-Ajumogobia, a public official while carrying out her duties as a judge.

The accused persons had pleaded not guilty to the charges.

At Monday’s proceedings, the court proceeded with trial despite efforts by the judge’s lawyer, Mr. Wale Akoni (SAN), to halt the trial.

The SAN asked for an adjournment, on the grounds that he had a pending application asking the EFCC to provide him with some documents in relation to the case.

The prosecution witness told the court how Justice Ofili-Ajumogobia, approached his bank, Diamond Bank to open a corporate account for her company.

Upon verification, the bank found out that address she gave for the company, Nigel and Colive was an uncompleted building.

The witness, however, said the bank went ahead and opened the corporate account for the company in good faith because of the defendant’s position as a Federal High Court judge, and also because the property belongs to her.

The witness further detailed in court how he helped the judge move large sums of foreign currencies between her three accounts domiciled with Diamond Bank.

The defense counsel declined to comment on the day’s proceedings but the prosecuting counsel Rotimi Oyedepo did.

Presiding Judge, Justice Hakeem Oshodi has adjourned the matter till January 30, for continuation of trial and possibly the hearing of the first defendants pending application.

Malabu oil deal: EFCC to grill ex-minister, others over $1.092bn cash

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Former Petroleum Resources Minister Dan Etete is set to visit the Economic and Financial Crimes Commission (EFCC) to answer questions on the controversial Malabu Oil Block (OPL 245).

The EFCC is searching for $1,092,040 billion paid by Shell Nigeria Exploration and Production Company Nigeria Limited (SNEPCO) and Nigeria Agip Exploration Limited (NAE) into an escrow account.

The anti-graft agency has raised a team to grill the ex-minister and all those implicated in the deal.

Those implicated are six former ministers in the administration of former President Olusegun Obasanjo and ex-President Goodluck Jonathan, a former Permanent Secretary, a former Head of State, a former Senate President, a former National Security Adviser (NSA), some senators, and some serving and former members of the House of Representatives.

The EFCC may also interact with Mohammed Abacha, who has raised issues on the oil block.

Etete, who was central to the auctioning of the oil block, has notified he EFCC of his readiness to explain his own side of the deal.

A source, who spoke in confidence, said: “We have made significant headway on the ongoing probe of the oil block. The former oil minister is set to state his own side.

“Etete sent his lawyer to inform the agency of his plans to return to Nigeria for interaction with our team.

“This is a good development because Etete is central to the auctioning of the oil block and he is a stakeholder in Malabu Oil Limited.”

The source, who pleaded not to be named so as not to jeopardise the probe, added: “This leg of investigation will enable us to track and address how to recover the $85 million in a NatWest Bank account.

“The cash is said to be part of the $1,092,040 billion remitted into an escrow account by Shell Nigeria Exploration and Production Company Nigeria Limited (SNEPCO) and Nigeria Agip Exploration Limited (NAE).

“The Federal Government is interested in recovering the $85 million but we must follow the due process. The UK government a few weeks ago, expressed its willingness to return funds but we have to submit substantial proof, beyond reasonable doubt, that such money is ours.”

Etete’s coming may lead to the invitation of Mohammed Abacha.

The source added: “We may invite Mohammed Abacha for interaction if Etete lives up to his pledge to meet our team. He is one of those who have raised issues on the Oil Block (OPL 245).

“The Abachas said they have a lot of documents relating to the deal. You will also recall that OPL 245 was allocated to Malabu on behalf of the Ministry of Petroleum Resources by Mr. Dan Etete in his capacity as the then Presidential Advisor on Petroleum and Energy.”

The Abacha family-owned firm, Pecos Energy Limited, and Mohammed Sani (aka Mohammed Sani Abacha) had vide a letter dated 20th January 2010 from A.A Umar & Co., claimed that they had bought OPL 245 from Malabu Oil and Gas Limited for US$ 1.3 billion and that Malabu had without their knowledge, disposed of their interests in OPL 245 to Shell Nigeria Ultra Deep Limited (SNUD).

It was gathered that the ruling of a judge in London last December had created new grounds for investigation.

Justice Edis of the Southwark Crown Court, London, on December 14, 2015 stopped the payment of N17 billion to Malabu Oil and Company.

The judge said he was “not sure that the Goodluck Jonathan administration acted in the interest of Nigeria by approving the transfer of the money to Malabu.

He said: “I cannot simply assume that the FGN which was in power in 2011 and subsequently until 2015 rigorously defended the public interest of the people of Nigeria in all respects.”

By the terms of Block 245 Resolution Agreement, Shell agreed to the release of the outstanding Signature Bonus and to appoint an escrow agent for the purpose of paying $1,092,040 billion to the Federal Government.

It was learnt that $982,040,000 was the total contribution of NAE to the settlement but SNEPCO contributed $110,000,000 to make up the required $1,092,040 billion for the Federal Government to settle all claims and or issues over OPL 245 in accordance with the agreement.

There are fears that the $1,092,040 billion in an Escrow Account was “used for the settlement of the FGN-Malabu Oil Limited agreement on OPL 245”.

The EFCC has been trying to unravel whether or not the cash was paid to the government or if the appointed escrow agent managed the $1,092,040 billion and shared it to some beneficiaries for the settlement of disputes between the government and Malabu Oil Limited.

A memo submitted to International Centre for Settlement of Investment Disputes by SNUD gave further details. Shell said: “In 1998, during the President Abacha military regime, OPL 245 had been allocated to Malabu on behalf of the Ministry of Petroleum Resources by Mr. Dan Etete in his capacity as the then Presidential Advisor on Petroleum and Energy. Malabu was an indigenous Nigerian company, incorporated on 24 April 1999, with Nigerian shareholders, apparently for the purpose of petroleum prospecting.

“In March 2000, Malabu approached Shell within a farm-in proposal. Malabu was looking for an international oil company to take a 40 per cent equity stake in the OPL 245 licence itself and ‘carry’ Malabu in developing the block i.e. the international oil company would take all the exploration and development risk by funding Malabu’s share of the costs (including the acquisition, exploration and development costs of the block) as well as its own.

“Those costs would then be recovered by the international oil company from Malabu’s share oil production.”

Pump In Cash To Save Economy, Experts Advise Buhari

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The Federal Government should pump money into infrastructure development, which will create more jobs and boost liquidity, economists and private sector players said yesterday.

The Nigerian Bureau of Statistics (NBS), in its Second Quarter Report released on Wednesday, said the economy contracted by 2.06 per cent to record its lowest growth rate in three decades.

The report said the economy shrank by 0.36 per cent in the first quarter of 2016 to hit its lowest point in 25 years. Unemployment grew from 12.1 per cent in the first quarter of 2016 to a record high of 13.3 percent in the second.

Finance Minister Mrs Kemi Adeosun  said:  “It’s the worst time possible for us”. She, however, assured all that things will get better.

President Muhammadu Buhari said yesterday that Nigeria will be prosperous again. He spoke in Osogbo the Osun State capital, at the inauguration of a mega school built by the Rauf Aregbesola administration.

A development economist and financial Expert, Odilim Enwegbara, who is the Chairman/CEO at Pan Africa Development Corporate Company (PADCC), said the government should leverage on its expansive revenue base and spend its way out of the recession.

He said: ”To help our economy, the government needs to pump trillions of naira into infrastructure projects and trillions of naira into social intervention policies so as to make more money available to the citizens to boost their purchasing power, which will make these cash-strapped citizens start consuming, not imported goods and services, but mostly locally made goods.”

By consuming locally made goods, Enwegbara said, more money will get into the hands of local people and artisans. This, he said, will kick-start the once excluded grassroots economy.

In his view, President Buhari needs to inject a minimum of N3 trillion annually into the economy.

 ”Buhari’s social interventionist policies too should, besides making the school feeding programme a priority, monthly stipends of not less than N10,000 (instead of N5,000) should be given to millions of our poor families, widows, elderly, mentally and physically- challenged Nigerians. This should be promoted with the rigour it requires.

Lagos Chamber of Commerce and Industry (LCCI) Director-General Muda Yusuf spoke of an urgent need to inspire investor confidence by ensuring that policies are not only credible and sustainable, but also consistent.

He described this measure as critical in building the confidence of investors, adding that there is the need for the injection of private capital by domestic and foreign investors to turn things around.

Yusuf called for government’s stimulus spending to fast-track the growth of the economy, including the speedy implementation of the 2016 budget.

He said this could have very clear positive impact in pulling the economy out of the woods.

According to the LCCI chief, the energy issue has remained a sore point as a result of the poor supply and the high cost of gas, which in most cases is not available.

He said: “Economic empowerment of majority of our citizens by increasing the purchasing power of the economically excluded is the magic wand which increasing their consumer power should increase production and new jobs. In other words, if by empowering the marginalised and excluded millions deep-seated economic malaise will finally be resolved.”

The Vice President (North West Zone), Manufacturers Association of Nigeria (MAN), Ibrahim Usman, said to move away from recession, the government must embark on infrastructure development to attract money into the system.

He said in other climes, the government drives the economy, giving it direction, but he admitted that there is no quick fix to get out of the recession.

Usman, who is also the Executive Chairman, Powerseal Nigeria Limited, called on the government to quickly end the Niger Delta militancy issue.

The economic think tank of Financial Derivatives Company Limited, led by Bismark Rewane, expressed optimism that “the lower-than-expected figures for July signal a possible tapering in the rate of increase in consumer prices which might improve market sentiment.”

Usman added that market players “are expected to react accordingly”.

Credit:

Experts to Buhari: pump in cash to save economy

EFCC Investigates ‘Missing’ N3b Military Operation Cash

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The MDAs were said to have funded the Nigerian Army procurement through the Office of the National Security Adviser (ONSA).

A document obtained by The Nation said ONSA collected various sums from the Ministry of Foreign Affairs and Nigerian Maritime Administration and Safety Agency (NIMASA), among others for military operations, but the Defence Headquarters and the Services denied receipt of the money.

The document said: “The Office of the National Security Adviser (ONSA) on 13 May 2013 requested funds for the conduct of Operation BOYONA aimed at dislodging terrorists camps along the common borders with Cameroun, Chad and Niger.

“Consequently, the government released N1,340,000,000. 00 from the Ministry of Foreign Affairs which were disbursed to DHQ and the Services accordingly.

“In August 2013, ONSA requested and got approval for additional N2,000,000,000.00 for logistics requirements and sustenance of troops, which was credited to ONSA’s account.

“However, DHQ and the Services confirmed non receipt of any additional funds for Operation BOYONA.

“The Committee is of the view that the then NSA, Lt Col MS Dasuki (rtd) should be made to account for the N2,000,000,000.00.

“The  Committee  also  noted  that  between  3  September  2014  and  30 April  2015,

NIMASA funded accounts of the Joint Task Force Operation Pulo Shield with various sums totalling N8,542,586,798.58 purportedly to enhance operations of the JTF in the Niger Delta. Neither the need assessment that warranted the release of funds nor the details of the expenditure was made available to the Committee.

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EFCC investigates ‘missing’ N3b military operation cash

FG To Begin Cash Transfers To 30% Poor- Uwais

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The Special Adviser on Social Investments in the office of the vice president, Maryam Uwais, yesterday said the federal government would soon begin conditional cash transfers to poor families to ease hardship.
Speaking during a workshop on Child Poverty and Social Protection in West and Central Africa at the ECOWAS Secretariat in Abuja yesterday, she noted that 30% of the poor in every state and local government would be catered for while the figure would be increased to about 50% next year.

 “For the first time, government has budgeted money for the poor in the country. We have been given the mandate to develop a register for poor people. First and foremost, we are going into the communities organising socio group discussions and asking the communities themselves what poverty means to them,” she said.  According to her, N5000 will be the bench mark for each family.

“There is poverty everywhere but if we say everybody is below the poverty line, poverty is higher in some places than others, so to avoid ghost beneficiaries we have asked them to have BVN so banks can pay directly to them,” she added.

The Commissioner, Social Affairs and Gender at the ECOWAS, Dr Fatimata Dia Sow, said despite intervention by government to improve the lives of children across Africa, most of them were still grappling with extreme poverty which had strongly retarded development.

Credit: dailytrust

PDP Battles Ghost Workers, Pays Staff In Cash

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The national leadership of the Peoples Democratic Party has detected ghost workers on its payroll after ordering the workers to line up and collect their salaries in cash.

Investigations by our correspondent showed that the precarious financial situation of the party forced its leadership to take the action.

It was gathered that the National Chairman of the party, Ali Modu Sheriff, was worried about the huge salary bill of the workers and decided to take action aiming at ascertaining the actual number of workers at the party’s national secretariat in Abuja.

Sheriff was said to have inherited about N872m debt when he assumed office about a month ago.

Worried by this, Sheriff was said to have taken members of the National Workers Committee by surprise when on Thursday he directed the workers to get their salaries in cash.

A management employee, who spoke with our correspondent on Sunday, said that they were surprised when they (the workers) were directed to assemble inside the National Executive Committee hall at the national secretariat.

He said, “Sheriff has started the restructuring of the PDP for efficient and effective performance.

“March 24 will ever be a day to remember in our party. On that day, as early as 11am, the NWC and members of  staff of the PDP, under the instruction of our national chairman, moved into the conference hall.

“The chairman also joined everyone in the hall. And to the surprise of all, the business of the day was the payment of staff salaries, which was done department after department.

“One after the other, after individual’s physical verification of each file and identity, thereafter you are then paid your salary in cash.”

The exercise was chaired by the national chairman who directed the National Treasurer, Mr. Buhari Bala, to call the workers by their departments.

Another management worker said, “Names of all the workers were called according to their departments and once you heard your name, you would come out to collect your salary by hand.

“This order was followed by the national treasurer and some employees of the Finance Department, who assisted him.

“All heads of departments were on the ground to observe the exercise.

“So, when a name was called, the person came out and his/her file was opened for verification before cash was paid to such a worker.

“And at about 6:30pm, the chairman left the hall to attend to other meetings, while the national treasurer continued to call the names of employees.

“In the absence of the national chairman, he called four departments, amongst them were the Youth Department and Security Department.”

Before calling the security staff on the list submitted, Bala was said to have complained that the list was too lengthy.

It was gathered that Bala realised during the payment that the security department had what he described as ghost workers and security personnel, as the names of policemen called were those who had left the service of the PDP immediately after the resignation of the then National Chairman, Alhaji Bamanga Tukur, about two years ago.

Some of the workers at the national secretariat had called on Sheriff to set up a panel to investigate those behind the scam.

One of them said, “The outcome of what happened on Thursday was an indication that salaries of those ghost workers were being collected by someone over the years.

“Ghost workers were also discovered in the other departments.”

It was gathered that seven policemen, who had left the party more than two years ago, were still being paid.

Credit: Punch

50 Cent Stacks Cash In Cooking Oven, All Over His Kitchen (WATCH)

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We give up already… no one is arguing no more… 50 Cent is rich and there is no debate on that.

The American rapper has in many ways proved to the whole world that he is an income generating machine and yes we can see it. The last time, it was stacks of Dollars in his fridge, now they are in his cooking oven… and all over the kitchen.

See his IG video below:

Kanan: I'm Too Rich check it out Effen Vodka LMAO. #EFFENVODKA #FRIGO #SMSAUDIO

Colombian Farmer Finds Buried $600 Million Belonging To Pablo Escobar

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If you found $600 million in cash money, what would you do? Well, what if we told you it was from the late Pablo Escobar‘s stash?

Colombian farmer Jose Mariena Cartolos came across the drug lord’s fortune when he received a grant from the Colombian government to develop a palm oil plantation on his land, according to Don Diva. While digging and tilling the soil, he found containers filled to the brim with cash – money said to be a part of Escobar’s $30 billion fortune. If you watch Narcos on Netflix, you know that many drug lords amass so much money, they opt to bury some of it as opposed to laundering the proceeds.

Unfortunately, Cartolos won’t be able to keep his treasure. It will most likely go to fund “social and economic programs.” Colombian officials think the find will generate others to search for more of Escobar’s billions. If you’re brave, test your luck – there’s plenty of flight deals to Colombia happening at this very moment. I trust my African Brothers are heading out after reading this. Please epp me Bring some i get More Blog Post to work on. 

EFCC Seizes Diezani’s Associates’ Bullet-Proof Cars, Cash, Jewelry

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The Economic and Financial Crimes Commission (EFCC) has seized bullet-proof vehicles, huge cash and jewelry from five prominent Nigerians fingered in the money laundering allegation against former Petroleum Resources Minister Mrs Diezani Alison-Madueke.

EFCC and its British counterpart, National Crime Agency (NCA), are probing the suspects for allegedly conniving with Alison-Madueke to commit the crime, it was learnt yesterday.

The former minister was arrested in London on October 2 for alleged money laundering, bribery and corruption.

EFCC has restricted the movement of the ”high-profile” suspects to Nigeria, pending the conclusion of investigation.

Some of them may be extradited to the United Kingdom (UK), if the former minister is going to face trial.

Credit: NationOnline

How Floyd Mayweather Dropped $50,000 In Stripclub, Goes Out With Armfuls Of Cash

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With so much time on his hands, newly-retired Floyd Mayweather just doesn’t know what to do.

So after ending his boxing career with a record-equaling 49 wins and no defeats, “Money” as he is known has started redistributing his wealth it seems.

He posted a picture of himself on Instagram carrying armfuls of cash around a nightclub – and there are reports that he even dropped $50,000 at a stripclub on the same night.

Credit: Yahoo

Troops Kill 4 Suicide Bombers, Recover Bombs, Cash

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Troops based on a tip off, ambushed and killed 4 suspected Boko Haram terrorists on a suicide bombing mission to Gubula, Madagali Local Government Area, Adamawa State.

Apart from 2 AK-47 rifles recovered, the troops also recovered some Unexploded Ordinances (UXOs), mortar bombs and cash sum of N153,385k was retrieved.

The Nigerian Army also appeals for continued vigilance, security consciousness and above all cooperation with the military and security agencies to enable them successfully defeat the terrorists.

Cash Coming For ‘Extremely Poor’ Nigerians- Osinbajo

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Government has revealed two of its key programmes to fight the scourge.They are, one-meal-a-day for school pupils; and Conditional Cash Transfer (CCT) for 25 million “extremely” poor households.

To benefit from the CCT, there are two conditions. Beneficiaries must be vulnerable and fullfil their civic responsibilities. They must participate in polio vacination, school enrolment and support other government programmes.

Vice President Yemi Osinbajo, who spoke on the administration’s plan, said the government would carry out “social sector investment”.

Osinbajo spoke at the 45th Annual Accounting Conference of the Institute of Chartered Accountants of Nigeria (ICAN) in Abuja on “Repositioning Nigeria for Sustainable Development: From Rhetoric to Performance”.

Read More: thenationonlineng

Senate Approves Additional $200m Loan for FG, Passes Criminal Justice Bill into Law

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The Senate has approved the request of President Goodluck Jonathan to raise additional $200 million Diaspora Bond from the international capital market in addition to an initial $100 million approved by the upper chamber of the national assembly in the 2012-2014 borrowing plan.

In a letter dated February 4, 2015 addressed to Senate President, David Mark, the president explained that the increment being sought was to enable him to address critical infrastructure in the country, while also giving Nigeria’s diaspora citizens the opportunity to invest in the development of the country.

Presenting the report, Senator Ehigie Uzamere, who chaired the Senate Committee on Local and Foreign Debts, which held joint meetings with the Committee on Finance said several meetings were held with officials of the Debt Management Office in the course of their assignment.

According to him, the joint committee was guided by Nigeria’s Medium Term Debt Management Strategy (2012-2015); The Debt Sustainability Analysis (2013); Fiscal Responsibility Act (2007); Debt Management Act (2003) and the 2014-2016 MTEF/FSP.

Senate President, David Mark, who presided over the sitting, said he was confident that the funds would be judiciously utilised by the Jonathan-led administration.

The Senate, also on Tuesday, passed the criminal justice bill into law. The bill, which according to the lawmakers, would ensure speedy dispensation of justice in the country has been presented since 2005. During this period, it has been adopted by the Lagos State government and has been amended once.

Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Umaru Dahiru, said when signed into law, the bill would promote efficient management of criminal justice in the country.

Mark also said that the bill would help in repositioning the criminal justice in the country