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Ministerial nominee decries lack of supervision of CBN
By Lateef Taiwo
Mr Adabayo Adelabu, ministerial nominee from Oyo State on Tuesday in Abuja advocated improved supervision and oversight on activities of the CBN by economic management ministries of the Federal Government.
Fielding questions before the Senate, Adelabu said the CBN should never be in competition with the Federal Government as the latter’s economic agency.
He said there was nothing wrong about the structure of the CBN, but about its governance structure.
“There are three decision-making committees at the CBN and the governor is the chairman of each of the committees.
“They are the Committee of Governors, the Monetary Policy Committee and the Board of Directors.
“It is good and there is nothing bad with it because all over the world the independence of the CBN must be guaranteed, and the governor is just first among equals; there are four Deputy Governors
“We must ensure that the appointment of the Deputy Governors is independent of the CBN governor so that they are not subservient to the governor.
“The national economic management team – the Ministers of Finance and Budget and National Planning, the Accountant-General of the Federation and other relevant ministries must have some subtle oversight on decisions made by the CBN.
“If CBN knows that there is a body to which it will report on the allocation of foreign exchange, for instance, its decision on monetary policy and interest rates will be given more serious consideration,’’ he said.
Presiding Sen. Godswill Akpabio observed that the nominee’s submissions indicated that there was no proper monitoring of the CBN.
He noted that Adelabu pointed out that there was no clear and organised statutory meeting of the CBN that involved the Accountant-General of the Federation, the Budget Planning ministry and other stakeholders.
He said remarks from the nominee also indicated that nobody was supervising the CBN for the years the nominee served as Deputy Governor of CBN.
“This is a good thought for senators and that means that we must revisit the Act setting up the CBN.
“Probably we may not have been where we are now if we had a proper monitoring of the CBN by the Act itself,’’ Akpabio said.
The Senate screened nine ministerial nominees on Tuesday out of the 14 nominees listed for the day.
Those screened were Mr David Umahi (Ebonyi), Mr Olawale Edun (Ogun), Malam Nasir El-Rufai (Kaduna State) and Malam Ahmed Dangiwa (Katsina State).
Others were Uche Nnaji (Enugu State), Mrs Stella Okotete (Delta), Mr Adebayo Adelabu (Oyo State), Ekperikpe Ekpo (Akwa (Ibom) and Hajia Hannatu Musawa (Katsina State).
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London Property Dispute Exposes Alleged Corruption, Forgery by Nigerian Politician and Lawyer
By Hassan Taiye
A recent judgment by the UK’s First-tier Tribunal (Property Chamber) has shed light on a complex web of alleged corruption and forgery involving a Nigerian politician and a senior lawyer. The case revolves around a disputed property in North London, valued at 79 Randall Avenue.
The property was purchased in 1993 under the name “Tali Shani,” which is allegedly an alias for late General Jeremiah Useni, a powerful member of the Abacha regime. Chief Mike Ozekhome, SAN, claimed the property was gifted to him by “Mr. Tali Shani” in 2021 as payment for legal services. However, the tribunal dismissed this claim, describing it as “fabricated” and “fraudulent.”
The tribunal’s ruling highlights the alleged involvement of Ozekhome and his associates in fabricating documents, including a Nigerian passport, National Identification Number (NIN), and Tax Identification Number (TIN). The NIN was reportedly created remotely from Monaco using a non-compliant photograph and bypassing biometric requirements ¹.
The Human and Environmental Development Agenda (HEDA Resource Centre) has petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate Ozekhome and others over alleged fraud, forgery, and unlawful attempt to acquire the London property. The ICPC has launched an investigation, and the Attorney-General of the Federation (AGF) has also taken notice of the case ²
Chief Mike Ozekhome, SAN Senior lawyer accused of forgery and attempting to acquire the property through fraudulent means.
General Jeremiah Useni Late Nigerian General allegedly behind the purchase of the property under the alias “Tali Shani.”
Osilama Ozekhome*: Ozekhome’s son, implicated in the alleged forgery and fraud.
L-r Senate Committee Chairman on Appropriation, Solomon Adeola; Senate Deputy Whip, Onyekachi Nweboyin; Former Senate President, Ahmad Lawan; President of the Senate, Godswill Akpabio; Senator Sharafadeen Ali; Deputy Senate President, Jibrin Barau; Senate Leader, Opeyemi Bamidele; Senate Whip Tahir Monguno and Senate Committee Chairman on Financial Institutions, Tokunbo Abiru, after resumption of plenary yesterday. Photo: Senate President’s Office
By: Fabian Apechihin
The Minister of Innovation, Science and Technology, Uche Nnaji, has resigned from President Bola Ahmed Tinubu’s cabinet amid a growing controversy surrounding his academic credentials.
Presidential spokesman Bayo Onanuga confirmed Nnaji’s resignation in a statement issued late Tuesday.
Nnaji’s exit follows mounting allegations that his academic certificates were forged. Investigations revealed that the University of Nigeria, Nsukka (UNN), disowned the Bachelor of Science degree he claimed to possess, stating that he never completed his studies at the institution and was therefore not issued any certificate.
According to UNN Vice-Chancellor Prof. Simon U. Ortuanya, Nnaji was admitted in 1981 but failed to meet the requirements for graduation.
In a related development, the National Youth Service Corps (NYSC) reportedly disowned the certificate of national service presented by Nnaji, describing it as fake.
His resignation marks the latest in a series of controversies to hit the Tinubu administration over questions of integrity and accountability among public officials.
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