News
FG Recovers $750m Linked to Corruption- Lai Mohammed
Economic and Financial Crimes Commission (EFCC) has recovered at least $750 million in local and foreign currency linked to corruption and fraud last year, according to Lai Mohammed, minister of Information and culture.
Nigeria has struggled for decades with endemic corruption among the political elite, who many Nigerians blame for widespread poverty in the country.
But Mohammed said the EFCC last year recovered 152 billion naira ($366 million), $386 million and 1.1 million pounds sterling ($1.50 million) including digital currencies among other proceeds of white-collar crime.
The EFCC investigates and prosecutes corruption in Nigeria. Mohammed did not give details on where the money had been recovered from or from whom.
He added that 96 financiers of terrorism had been found in Nigeria with 424 associates and about 123 companies and 33 exchange bureaux following analysis by Nigerian Financial Intelligence Unit in 2020-2021.
“The analysis has resulted in the arrest of 45 suspects who will soon face prosecution and seizure of assets,” Mohammed told reporters in Abuja.
President Muhammadu Buhari, in his second term in office, was elected largely on his pledge to fight corruption and vowed to recover “mind-boggling” sums of money stolen from Nigeria.
Since then the country has endured two recessions caused by a sharp fall in global oil prices, making the need to recoup lost money more acute. Crude oil sales account for a majority of national income and foreign exchange.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
- Telecom3 days ago
World Earth Day: Kuda Partners with Wecyclers to Clean up Communities in Lagos
- Telecom3 days ago
Airtel Boosts NIPR Public Relations Week with Onsite Unlimited Data Connection
- News3 days ago
UK Pledges €1Bn to Fight against Malaria in Nigeria
- Broadcasting3 days ago
NCC Seeks Media Collaboration on Copyright Infringement
- Editorial3 days ago
Telcos Ask NCC to Allow Them Hike Tariff
- Broadcasting3 days ago
FCCPC to Review Multichoice’s Tariff Hike
- News2 days ago
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
- News2 days ago
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman