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I Can’t Meet Bail Conditions, Maina Cries Out
The former chairman of the Pension Reform Task Team (PRTT), Abdulrasheed Maina, on Monday, told the Federal High Court in Abuja that he could not fulfill the conditions of the bail granted to him.
Mr Maina is accused of diverting N100 billion of pension funds, and is facing trial for alleged money laundering. He is being prosecuted by the EFCC on a 12-count charge, and is also accused of operating fictitious accounts and carrying out other fraudulent activities.
The former PRTT chairman, who was in hiding for almost two years, was arrested by the State Security Service last year.
The SSS handed over Mr Maina to the EFCC, which had declared him wanted for over a year.
His son, Faisal, who was arrested alongside the father in September, is accused of operating an account he used to divert various sums of money, including N58 million.
The two men were arraigned by the EFCC on October 25 on separate charges. They pleaded not guilty.
The court on November 25 admitted the former pension chairman to bail in the sum of N1 billion.
Justice Okon Abang, who gave the ruling, also ordered that Mr Maina must produce two sureties who must be serving senators.
The judge said the two lawmakers must not be standing criminal trial in any court in the country.
He also ruled that the two sureties, who must be prepared for a N500 million bond each, must always be in court with the defendant at each adjourned date.
Mr Osigwe presented an application pursuant to section 181 of the Administration of Criminal Justice Act (ACJA), seeking a bail variation for Mr Maina.
According to the lawyer, although two senators had indicated interest to stand as sureties, “they have stated that they neither have properties in either Asokoro or Maitama worth the amount specified by the court.”
Justice Abang asked Mr Osigwe if he obtained documents containing the information of landowners in Abuja from the land registry and he replied, “No”!
“The land registry treats such documents as confidential,” he said.
Mr Maina’s lawyer added that “to even conduct a search on an identified property, the Abuja Geographic Information Systems (AGIS), would not permit you to do so unless you produce the original titled document together with a letter of consent.
“When you approach a person to be your surety and the person says I don’t have this property, I think it would be disrespectful to go behind investigating whether what the person has told you is true,” he said.
However, Justice Abang, held that Mr Maina ought to have attached documents to prove their claim.
“The court did not fix those conditions for fun. The court has reasons for imposing those conditions. So, if you want the court to vary it, convincingly, you have to establish the fact that the applicant is unable to comply with those conditions,” the judge said.
Mr Abang also added that the defendant failed to challenge the prosecution’s claim that he (Mr Maina) no longer resides in Abuja and might run away if released on bail.
But Mr Osigwe in his argument said all Mr Maina’s travel passports had been seized by the anti-graft agency.
“All the documentation relating to his residential permit in Dubai, UAE is all with the EFCC and a High Court of the FCT,” he said.
Premium Times
The Federal Capital Territory Administration (FCTA), on Thursday, published a list of 9, 532 alleged land title debtors in Abuja, giving them a two-week ultimatum to settle their outstanding bills.
The list, which includes prominent individuals and government agencies, was published on November 26, with defaulters expected to pay for their certificate of occupancy (C-of- O) within the stipulated timeframe.
Among those listed as defaulters is former Head of State, Ibrahim Badamosi Babangida (IBB), who owes N152 million for a plot of land in Asokoro, a highbrow area in the nation’s capital. IBB, who ruled Nigeria from 1985 to 1993, is not the only high-profile individual on the list.
Other notable defaulters include Samuel Ortom, former governor of Benue, who owes N950,000 for a plot of land in Bazango, and Aminu Tambuwal, senator representing Sokoto south, who owes N18 million for a plot of land in Carraway Dallas.
The FCTA has threatened to revoke the land titles of defaulters who fail to settle their bills within the stipulated timeframe. The administration has urged defaulters to settle their bills by e-payment to the “FCT department of land administration” account.
In addition to individual defaulters, some federal agencies, including the Nigerian Financial Intelligence Unit (NFIU), the navy, and police, were also named as defaulters.
The Lagos governor’s lodge in Asokoro, the Kaduna state government, and ‘State House Abuja’ were also listed as land title debtors.
This development is not the first time the FCTA has taken steps to recover outstanding debts from landowners. In June this year, the administration set up a committee to recover over N29 billion owed by property owners.
The committee has since identified 430 individuals and organisations as defaulters, with plans to prosecute them.
The FCTA has also partnered with anti-graft agencies, including the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), to check the activities of land grabbers in the territory.
The Senate has granted approval to the ₦1.77 trillion ($2.2b) loan request of President Bola Tinubu after a voice vote in favor of the request.
The Senate presided by Deputy Senate President, Barau Jibrin, approved the loan after the Senate Committee on Local and Foreign Debts chaired by Senator Wammako Magatarkada (APC, Sokoto North) presented the report of the committee.
The request which was submitted by the President on Tuesday is part of a fresh external borrowing plan to partially finance the N9.7 trillion budget deficit for the 2024 fiscal year.
Tinubu had on Tuesday written to the National Assembly, seeking approval of a fresh N1.767 trillion, the equivalent of $2.209 billion as a new external borrowing plan in the 2024 Appropriation Act.
The fresh loan is expected to stretch the amount spent on debt servicing by the Federal Government. The Central Bank of Nigeria recently said that it cost the Federal Government $3.58 billion to service foreign debt in the first nine months of 2024.
The CBN report on international payment statistics showed that the amount represents a 39.77 per cent increase from the $2.56bn spent during the same period in 2023.
According to the report, while the highest monthly debt servicing payment in 2024 occurred in May, amounting to $854.37m, the highest monthly expenditure in 2023 was $641.70m, recorded in July.
The trend in foreign debt servicing by the CBN highlights the rising cost of debt obligations by Nigeria.
Further breakdown of international debt figures showed that in January 2024, debt servicing costs surged by 398.89 per cent, rising to $560.52m from $112.35m in January 2023. February, however, saw a slight decline of 1.84 per cent, with payments reducing from $288.54m in 2023 to $283.22m in 2024.
March recorded a 31.04 per cent drop in payments, falling to $276.17m from $400.47m in the same period last year. April saw a significant rise of 131.77 per cent, with $215.20m paid in 2024 compared to $92.85m in 2023.
The highest debt servicing payment occurred in May 2024, when $854.37m was spent, reflecting a 286.52 per cent increase compared to $221.05m in May 2023. June, on the other hand, saw a 6.51 per cent decline, with $50.82m paid in 2024, down from $54.36m in 2023.
July 2024 recorded a 15.48 per cent reduction, with payments dropping to $542.50m from $641.70m in July 2023. In August, there was another decline of 9.69 per cent, as $279.95m was paid compared to $309.96m in 2023. However, September 2024 saw a 17.49 per cent increase, with payments rising to $515.81m from $439.06m in the same month last year.
Given rising exchange rates, the data raises concerns about the growing pressure of Nigeria’s foreign debt obligations.
Channels TV
Self acclaimed leader of the Indigenous People of Biafra (IPOB), Simon Ekpa, has been arrested by law enforcement in Finland.
The BBC reports that Ekpa was subsequently sent to prison by the district court of Päijät-Häme for “spreading terrorist propaganda on social media”.
Ekpa was said to have committed the crime in 2021 in Lahti municipality.
The Finnish National Bureau of Investigation (NBI) also arrested four other men over alleged terrorist offences.
A citizen of Finland and Nigeria, Ekpa has described himself as leader of the separatist IPOB group since Nnamdi Kanu’s incarceration.
Finnish police say Ekpa’s activities and social media rhetoric may have fanned the flames of violence in the south-east of Nigeria.
“He carries out these activities from his social media channels, for example,” said Otto Hiltunen, detective chief inspector of the NBI.
In February 2023, Ekpa was arrested by police at his residence in Lahti but was released after hours of questioning.
Using his social media channels, Ekpa had directed Igbos not to participate in Nigeria’s 2023 general election.
In September 2021, the Biafra agitator and secessionist denounced Nigeria and vowed to return the medal he won for the country at the 2003 African Junior Athletics Championships.
