FG To Reward Whistleblowers With 5% of Recovered Loot

The Federal Executive Council (FEC) yesterday approved a whistleblowing policy to expose fraud and other related crimes in both the public and the private sectors.
Also yesterday, FEC approved the outline business case for discussions on the concession agreement that will facilitate private capital for the conclusion of work on the Second Niger bridge.

Finance Minister Kemi Adeosun disclosed this to State House reporters after the FEC meeting chaired by President Muhammadu Buhari.

In order to encourage Nigerians to key into the whistleblowers’ scheme, Adeosun said: “If there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided, the whistleblower may be entitled to anywhere between 2.5 per cent (minimum) and 5.0 per cent (maximum) of the total amount recovered.”

She said the policy devised by her ministry was aimed at encouraging anyone with information about a violation, misconduct or improper activity that impacts negatively on Nigerians and government to report it.

According to her, the policy’s objective is to increase exposure of financial or financial related crimes; support the fight against financial crimes and corruption; improve the level of public confidence in public entities; enhance transparency and accountability in the management of public funds; improve Nigeria’s Open Government Ranking and Ease of Doing Business Indicators; and recover public funds that can be deployed to finance Nigeria’s infrastructure deficit.

She listed information that could be submitted to include: mismanagement or misappropriation of public funds and assets (e.g. properties and vehicles); financial malpractice or fraud; collecting/ soliciting bribes; corruption; diversion of revenue; fraudulent and unapproved payments; splitting of contracts; procurement fraud (kickbacks and over-invoicing etc.).

The ministry defines a whistleblower as any person who voluntarily discloses information in good faith about a possible misconduct or violation that has occurred, is ongoing, or is about to occur.

The minister, who noted that there was a secure online portal where information could be submitted, said: “If you have already submitted your information, you can also check the status of your report on the portal.”
She however said that the policy would not apply to personal matters concerning private contracts or agreements.
She said whistleblowers could submit their information through the online portal by e-mail or by phone.

On whether a whistleblower is entitled to a financial reward, she responded: “It depends, if there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided, the whistleblower may be entitled to anywhere between 2.5 per cent (minimum) and 5.0 per cent (maximum) of the total amount recovered.

Read More: thisdaylive

Mfonobong Nsehe: 5 Business Lessons From Nigerian Oil Multimillionaire Muhammadu Indimi

Nigerian oilman Muhammadu Indimi is one of Africa’s most successful businessmen. Indimi, who has a net worth of $500 million according to FORBES Magazine’s 2015 ranking of Africa’s richest people, is the founder of Oriental Energy Resources, a leading privately owned Nigerian oil exploration and production company. Oriental, which he founded in 1990, has three projects offshore of Nigeria’s Niger Delta region.

His current status in Nigerian society is a far cry from his origins. Born in Maiduguri, northern Nigeria in 1947, Indimi had a deprived childhood. His father was a poor hides and skin trader and the young Indimi could not get a formal education because his father could barely afford it. At a very young age, Indimi was forced to take over his father’s business. Indimi says it was the springboard to the success he enjoys today.

Indimi, who is currently working on his memoirs ahead of his 70th birthday next year, rarely grants interviews to the media. He recently invited me over for a chat in Abuja, Nigeria, where he offered a sneak peek into his memoirs, recounted his life story, and spent well over an hour sharing five of the most important lessons he has learned in business. I share the lessons here, in his own words:

  1. Learn Your Trade

In 1957, I was ten years old and I was working with my father in his hides and skins trading business. We collected the skins from the villages around Maiduguri – some of them as far as 200 km away. My father and I traveled by foot on seasonal roads, and later, I would go by bicycle. If it rained, and it could rain continuously for 10 to 15 days, the road overseers closed the roads with roadblocks. We carried food with us, but it could take a month to travel 100 km, so all our food would be finished. Sometimes we ate terrible things along the way, things like rats and frogs, because that was what was available. The road overseers would catch the rats in the bush and boil them and all we had to do was brush them to remove the skin, and eat them with salt.

Anyway, I soon learned that the most expensive skins for trading were leopard skins, followed by crocodile, anaconda, and sealskins. Cow skins were the cheapest, as well as sheep and goatskins, and these were sold by weight. Other skins, like the crocodile and anaconda, were valued by their width. Most animals were skinned and cut down the belly, but for crocodiles, the belly skin was what was valuable, so it had to be cut down the back and then stretched. These were some of the things I had to learn. Many villagers didn’t know how to stretch the skins, so my father and I would do it. First we put the skins into water to make them more flexible. Then we would punch holes in the edges using nails to hold it flat, and leave it overnight. The skin could stretch up to one or two feet more, which meant more money.

The skins were also graded. Grade 1 was the best: no markings and no puncture wounds; grades 2 and 3 followed. If there were a small puncture in the skin, we would sew it so the buyer wouldn’t know. I know now that this is wrong, and I looking back, I regret it. In any case, I learned everything I could learn about the hides and skins trading business and I am proud to say that I became a master in this business. While it was not an extremely profitable, it was my start in business and it would lead me on to greater things. It is important that you learn your trade completely.

2. Pay your debts

In 1963 when I was 16, I got my independence from my father. I wanted to be my own man, and since I had nowhere to sleep, I decided to pitch my tent at a friend’s house. My hides and skin business was struggling and I was struggling to make ends meet. One day at 6am, I heard a knock on the door. It was my father. He had borrowed £100 from a neighbor friend of his so that I could continue doing business on my own. My father was well trusted, so he was given the money without any paperwork.

In 1963, £100 was an incredible amount of money and I needed to pay off this loan or else my family’s credibility. He couldn’t pay it back himself, and if I couldn’t either, it would have been shameful. But I didn’t squander his gift. Everyday, I would come back from trading and balance my accounts. I kept trading hides and skins and I also bought some acreage to farm wheat. It took me a few years to finally pay off that loan but I eventually did. That earned me reputational capital among the big businessmen in Maiduguri at the time, and when I needed loans in the future, everyone was glad to support me.

3. Always keep your eyes open for opportunity

As time went on, I decided to expand my business activities from hides trading into selling clothes. I was around 20 at the time and this was during the period of the Biafran war. Because of the war, it was a bit challenging for me to get goods into northern Nigeria. So I started crossing the border to Cameroon to buy ready-made clothes to sell in Maiduguri. As my clothing business prospered, I began to look for the next business opportunity in order to grow my income. In 1973, there was a shortage of flour in Maiduguri. The state government at the time was importing flour and selling it at a subsidized rate to locals. I soon got information from a reliable friend that there was flour for sale in Sokoto state. Sokoto at the time had excess flour and so I got in touch with the Chief Commercial Officer of the Ministry of Commerce for Sokoto state, the organization that was handling the sale. I called him and told him that I was interested in buying all his flour and wanted to see him. We met up in Jos, and when he saw me, he was shocked to see a young man. I was 26 years old at the time. At first, he doubted my seriousness- especially because I wanted to buy 50,000 bags of flour which cost £300,000. He allocated the bags to me and since I didn’t have the money, I had to return to Maiduguri to raise the money from some of the leading business people of the time. I eventually transported the bags of flour from Sokoto to Maiduguri and made a £50,000 profit on that one deal. £50,000 is not a lot of money today, but in those days it was a big deal.

4. Diversify your operations and take your business to the next level

In 1979, Nigeria was transitioning from a military to civilian government and President Olusegun Obasanjo commissioned the South Chad Irrigation Project. A pumping station was built with canals from Lake Chad. Three months before the station was to open, the water pulled back and the pumping station was left hanging. It was a very embarrassing situation. An engineer friend of mine was the project manager. He came to me and told me there was a company in Florida that was building mobile water pumps. Since I had been traveling abroad to Europe, he thought I could go to America to buy the pumps and bring them back to Nigeria.

I had never been to America, but I asked him how many pumps he needed. Within 48 hours, I was in the U.S.A. In those days, getting an American visa was not as tedious as it is now. I swiftly went to the American consulate in Kaduna and got my Visa, then went to Lagos and flew PanAM to New York, and connected to Florida.

I bought 30 pumps worth $1.3 million. To transport them, I rented an Antonov, a big Russian cargo plane. We filled the entire canal with water using the new pumps. The President of Nigeria commissioned publications about the irrigation pump projects for publicity purposes, and soon everyone wanted to do the same thing. I quickly set up an agency so that no one could sell the water pumps except for me. Six years later, I built the first irrigation pump factory in Maiduguri. It became an extremely successful venture and that was when I started making real money.

Read More: Forbes

5 Reasons Why Guys Want To Try Anal Sex (18+)

1. It feels completely different than vaginal sex. It’s like this: What if you found out your partner had a second penis that they never used for sex, and you knew that this penis would give you a different sensation during intercourse? Wouldn’t you want to try that? Except your partner says he doesn’t want to do it that way because it’s gross because he uses that penis to poop. All right, when I put it like that, it doesn’t sound very appealing. Maybe this is a better way to phrase it…

2. It’s like the pumpkin spice latte of sex: a novelty treat! Hear me out. People go ape-shit for pumpkin spice lattes when they come out, because they’re a novelty. You wouldn’t care about them as much if they were part of the regular menu. Sure, you’d still drink them, but you wouldn’t be crashing through Starbuck’s windows screaming for them. Anal sex is like that. It’s not something that’s “on the menu” all the time, so when it’s available, guys really want to put their penis in that pumpkin spice latte. I mean, butt. I don’t know what we’re talking about anymore.

3. It’s considered taboo without being weird. Anal sex is kind of like when your straight-laced mom cuts loose and has two margaritas on vacation. It’s not that big of a deal; you’re not putting on leather gimp suits or whipping each other during sex. But it feels naughty. It’s just raunchy enough without being out of hand. Also, now you’ll always think of your mom drinking margaritas during anal sex.

4. Not everyone has been there, kind of like Mount Everest. No, it doesn’t matter how many people you slept with, but you probably didn’t have butt sex with all of those people. So it’s just nice to think that if your vagina is the club, your butt is the VIP area. Which doesn’t make much sense, I know. It’s not like people are holding annual meetings or belong to a secret club because they’ve been to your ass. It’s just nice knowing that, if we ever had to compare notes, we’ve got a bit of an edge.

5. It’s like eating escargot or caviar: a status symbol. You know how caviar is gross and rich people eat it just because it’s expensive? Sometimes guys just want to do it just because it’s elitist and not for any other reason. I don’t know if everyone necessarily wants to eat escargot or caviar as much as they want to be able to tell other people they ate escargot or caviar. Some guys don’t even love the idea of anal sex, but it’s worth the extra cleanup to be able to say they’ve done it.

Credit: Cosmopolitan

5 Suspected Robbers Gunned Down In Shootout With Police In Lagos

The Police in Lagos on Wednesday killed five suspected armed robbers and arrested one with bullets wounds. Police sources told newsmen in Ikeja that the suspects had engaged policemen from Elemoro Division, Ajah in Ibeju-Lekki Local Government Area in a shootout where they were killed.

He said that five of them were killed on the spot and one injured by bullets was arrested. “The police in Elemoro got information that the suspects were operating at Abule Parapo, opposite Awoyaya in Elemoro area of Ajah around 2 a.m.

“The suspects engaged the police in a shootout as soon as they saw them. Two locally made double barrel shot guns, one cutlass and iron cutter was recovered from them. “The gang had been terrorising residents of Ajah, robbing and raping women,’’ the source said.

The corpses of the dead and the injured suspects were brought to the Lagos State Police Command headquarters, Ikeja at about 12.15 p.m. The operatives of the Special Anti-Robbery Squad (SARS) have taken over the case file from the Divisional Police Officer at Elemoro, SP Sani Limawa for further investigation.

When contacted, the command’s spokesman, DSP Joseph Offor, said he had yet to get the details from the division as at press time.

Credit: Vanguard

Falae Identifies Kidnappers, 5 Docked

Former Secretary to the Government of the Federation, Chief Olu Falae, who was kidnapped by Fulani herdsmen on his 77th birthday and released after paying N5m ransom four days after, has identified his abductors who were paraded before him by the police.

Falae on Tuesday, identified three of the suspects as those who kidnapped him and threatened to kill him if he failed to pay the ransom. Chief Falae, according to a police source, also identified one of the kidnappers who was kind to him.

This came as the Police, Wednesday evening, recovered N137m from robbers who raided a new generation bank on Trans-Amadi Road in Port Harcourt.

Read Morevanguardngr

5 Reasons Why He Broke Up With You

1. The timing is off

Unfortunately, when it comes to relationships, timing is key. If you’re not ready to commit, no matter how amazing the other person may be, it’s not going to work out. Men tend to wait until every other aspect of their lives are in order — whether it’s finishing school or feeling secure in their jobs — before surrendering to the industrial marriage complex. Only then will a potential relationship work out.

2. You’re not finished playing the field

Ah, the grass is always greener. Even if you’re already in a great relationship, men can’t help but wonder if they can get something better. If you’re already thinking this way, chances are your partner is not the right one for you.

3. You’re fixated on worst-case scenarios

Unfortunately, your brain starts to keep a mental checklist of everything your partner does that bothers you, like chastising you for leaving the toilet seat up. This list gets filed away, but once guys start to reconsider the relationship, they’ll begin fixating on everything that irritates them.

4. You’re not fully in love

This is one of the most common reasons why guys bolt. Just because you like someone a lot doesn’t mean that it is guaranteed to evolve into love, and men tend to be very intuitive on this front. Sadly, some guys will stay in a relationship — even though they know it will ultimately end. If you know your partner isn’t the one, tell him or her as soon as you realize it.

5. You’re too into your partner

Men are just as protective of their emotions as women and are very scared of getting hurt. Some men find themselves in a situation with a woman where they know they’ll be destroyed if she dumps them, and end up launching a preemptive strike and pulling the plug first. Some guys don’t like to feel emotionally needy, and ditch their partner in order to save themselves. It’s done merely to avoid possible future pain.


Mourinho Bags 5 Guinness Book Of Records Certificates

Chelsea Foootball Club manager, Jose Mourinho, has had his name entered into the 2016 version of the Guinness Book of Records. He was presented with unique framed certificates marking his achievements at Cobham recently.

Mourinho’s five managerial records in the latest edition of the famous and prestigious book are as follows:

  • Longest football unbeaten home run by a manager (nine years)
  • Most Champions League titles with different clubs (two)
  • Youngest manager to reach 100 Champions League matches (49 years 12 days)
  • Most points in a Premier League season (95)
  • Most games unbeaten at home in the Premier League (77)

Read Morevanguardngr


Boko Haram Kills 5 In Borno, 30 In Cameroon

Borno State and neighbouring Cameroon have continued to be under heavy attacks from suspected members of the Boko Haram, killing at least five persons in the former and, 30 in the latter.

On Wednesday, members of the sect stormed a Borno village called Mainari but were repelled by security forces. That was, however, not until at least five people had been killed.

A military source said gunshots rang out in the village on Wednesday evening, adding that troops engaged in firefights with the insurgents lasting about an hour.

Five villagers were killed by militants and six were injured while fleeing the attack in Mainari, 20 km southeast of Maiduguri, according to two armed civilian volunteers who helped the military repel the attackers.

Read More: dailytimes

CBN Currency Scam: Court Grants Bail To 5 Accused Persons

Justice Olayinka Faji of the Federal High Court, Ibadan, on Friday, granted bail to five employees of three commercial banks involved in the N8 billion mutilated currency scam.

However, the court denied bail to 10 others, including three employees of the Central Bank of Nigeria (CBN).

The five officials are Ademola Adewale of Wema Bank; Kehinde Fatokun, Olukunle Sijuade of First City Monument Bank and Ajuwon Bolade and Samuel Ogbeide of Zenith Bank.

The accused were arraigned by the Economic and Financial Crimes Commission (EFCC) on charges bordering on fraud, forgery and violation of the bank employees code of conduct.

The three CBN staff are Kolawole Babalola, Olaniran Adeola, and Togun Philip.

Others include, Isaq Akano, Ayodele Adeyemi, Oyebamiji Akeem, Ayodeji Aleshe and Ajiwe Adegoke, all of First Bank Plc and Oni Dolapo and Afolabi Olunike of Wema Bank.

Delivering his ruling on the bail applications made by the accused persons, Faji said that the prosecution failed to establish a strong case against the five for which they should be denied bail.

He said that while the court could grant or deny bail based on its discretion, bail applications could be denied if prosecution could prove that trial could be hampered if bail was granted.

“The prosecution had not proven well enough that these five accused could attempt to jeopardise the case by concealing evidence or influencing witnesses.

“Although the offences, herein, in my view are grave as it affects the economy, yet considering the proof of evidence before me, the prosecution has no strong case against the five,” he said.

Faji, thereafter, granted each of the five accused bail in the sum of N20 million with two sureties in like sum.

The judge said that the sureties must be resident within the court’s jurisdiction and have landed property in Oyo State; in addition to possessing evidence of payment of three years tax.

On the other accused persons, Faji held that their statements to the police upon their arrest suggested some level of involvement in the offences against them.

“The amount of money found in their different bank accounts and the worth of property disclosed by them, which is above their proven income, suggest that there is a strong case against them.

“Although they complied with the EFCC when they were granted administrative bail, the same may not be said of them now that they know the gravity of what lies ahead,” he said.

He, therefore, denied them bail and ordered for accelerated trial.

22 bank officials are being prosecuted by the EFCC in seven different suits.

Three of the cases are before Justice Nathaniel Ayo-Emmanuel, while Faji is hearing four cases.

Faji adjourned hearing in the four suits to June 26, July 1 and July 10 while the one involving the CBN trio and the three Wema Bank employees is September 24 and September 25.

Credit:  NAN