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House of Reps Probes North East Development Commission Over the Misappropriation of ‘₦100 Billion in 1 year

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House of Reps Probes North East Development Commission Over the Misappropriation of ‘₦100 Billion in 1 year
House of Representatives Probes North East Development Commission Over the Misappropriation of  ‘₦100 Billion in 1 year

The house of representatives probes the North-East Development Commission (NEDC) over the alleged mismanagement of N100 billion.

The happened as a result of the motion moved by Ndudi Elumelu, the minority leader of the house, on Thursday.

The commission was established in 2017 to reconstruct states affected by insurgency in the North-east.

According to Elumelu, the N100 billion given to the commission by the federal government “vanished” with nothing to show for it.

The Delta lawmaker accused Mohammed Goni Alkali, commission’s managing director, of awarding non-existent contracts.

“The N100 billion so far disbursed to the commission by the federal government is said to have vanished under a year without any visible impact on the refugees nor any infrastructural development credited to the name of the commission in the whole of the north-east,” Alkali said.

 

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“The corrupt practices include high handedness by the managing director, Mohammed Goni Alkali, over inflation of contracts, awards of non-existent contracts, massive contract splitting and flagrant disregard for the procurement laws in the award of contracts.

“There are allegations of how the minister of humanitarian affairs and disaster management, Sadiya Farouk, was said to have entered into an unholy deal with the managing director of the commission to illegally withdraw money for the purchase military vehicles without any recourse to the board.

“The act, which completely disregards the country’s procurement laws, must be seriously frowned at.”

The house adopted the motion after it was put to a voice vote by Femi Gbajabiamila, speaker of the house.

The motion was referred to the house committees on finance, procurement and NEDC. The report on the probe is expected to be turned in after eight weeks.

The development is coming days after the house  has concluded its investigation on the alleged mismanagement of N81.5 billion by the Niger Delta Development Commission (NDDC).

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  1. Pingback: N100b probe against NEDC is politically motivated - NEDA - GistFlash

  2. Pingback: 100 billion probe: NECSO’s, VYO’s pass vote of confidence on NEDC - GistFlash

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Economy

Wikipedia Lists Nigeria Among the “Failed States”

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Wikipedia Lists Nigeria among failed states
Wikipedia Lists Nigeria Among the “Failed States”

Web based encyclopedia – Wikipedia has updated its list of failed states and Nigeria is now one of the countries on the list.

Wikipedia Lists Nigeria Among the “Failed States”

The free web-based encyclopedia project which contains information on a wide variety of subjects, described a failed state as a political body that has disintegrated to a point where basic conditions and responsibilities of a sovereign government no longer function properly.

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It further added that a state can also fail if the government loses its legitimacy even if it is performing its functions properly. For a stable state, it is necessary for the government to enjoy both effectiveness and legitimacy. Likewise, when a nation weakens and its standard of living declines, it introduces the possibility of total governmental collapse.

Some countries listed as a failed state include; Syria, Somalia, Myanmar, Nigeria, Iraq, Yemen, Turkey, Democratic Republic of Congo, Central African Republic, Rwanda, Liberia, Yugoslavia, Lebanon, Afghanistan, Sudan, South Sudan.

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Economy

Tim Cook Officially becomes a Multi- Billionaire

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Tim Cook Officially becomes a Multi- Billionaire

Tim Cook, the Chief Executive Officer of multinational tech company – Apple, has joined the billionaires club as he officially becomes a billionaire.

Tim Cook Becomes A Billionaire

Apple’s market value has been on the rise following strong results and the upbeat outlook for tech giants.

Mr Cook owns 847,969 shares directly and took home more than $125m (£96m) last year as part of his pay package.

Last week, Facebook founder Mark Zuckerberg saw his personal wealth hit $100bn (£76bn).

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Technology companies including Apple, Facebook and Amazon have seen their profits grow during the coronavirus pandemic as more people went online.

Silicon-Valley based Apple is now closing in on the milestone of being the first company to be valued at $2tn. Two years ago it become the first company to be valued at $1tn.

Tim Cook Becomes A Billionaire

Mr Cook took over from Apple founder Steve Jobs nine years ago. His billionaire status is based on the shares he owns and the compensation he has been paid at Apple, and calculated by the Bloomberg Billionaires Index.

In 2015, he said he planned to give most of his fortune away and has already donated million of dollars worth of Apple shares.

Facebook’s Zuckerberg has made a similar pledge to give away the majority of his shares.

Mr Zuckerberg, along with Amazon’s Jeff Bezos and Tesla’s Elon Musk, accrued their wealth from the huge stakes in the companies they founded.

In comparison, Mr Cook’s stake in Apple is minuscule at about 0.02%.

Based on US federal and state taxes for California, Mr Cook would face a tax rate of just over 50%, as a top-bracket earner.

While Apple has not revealed any new products as groundbreaking as its iPhone, the company has still thrived since Mr Cook took over the reins.

He has overseen the development of devices such as the iPhone X and Apple Watch, along with new services like Apple Music.

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Economy

Domak Shelter Ltd. Partners with VIO, Offers 1000 Housing Units

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Domak Partnership with VIO
vio home welfare staff cooperative Society partner with Domak Shelter Ltd to Build 1000 Housing Units for Staff

DOMAK SHELTER LTD. PARTNERS WITH VIO, OFFERS 1000 HOUSING UNITS

A Leading real estate firm in Nigeria ‘Domak Shelter Ltd.’ is partnering with the Directorate of Road Services, Vehicle Inspection Office (VIO) to offer 1,000 Housing units to its Staff at Domak Garden City, Karshi.

Few days ago, Domak Shelter Ltd. launched the Face of Domak Project- a marketing competition platform through which all Domak products will be sold while the best marketer would be rewarded handsomely.

Interestingly, the Face of Domak project kick-started with 25,000 easy House ownership scheme and the marketers have already step up their games.

In line with this innovative project, the Management Team of Domak Shelter Ltd. ably led by the Chief Executive Officer ‘Amb. Kingsley Azonobi’ signed and sealed a Memorandum of Understanding (MoU) today, 4th August, 2020 at the VIO Headquarters, Mabushi with the Management team of the VIO Home & Welfare Staff Cooperative Society Ltd. to build 1,000 Housing Units for the staff of VIO.

 This agreement was signed in the presence of the 9 members of the Face of Domak Board of Trustees, Management team of the VIO Home &Welfare Staff Cooperative Society Ltd. and the members of the press.

Bar. Felix Nnadi who is head of Consultancy Units of the Cooperative Society commended the leadership of Domak Shelter Ltd. for this innovative project and expressed his excitement about the signing of the MoU.

In his statement, He said the initiative came along with liberal terms which will mark a legacy in the life of the VIO officials. According to him, the approval for the signing of this MoU was obtained from the Head of National body of the Organization ‘Engr. Sir Paul Bebe’ as well as the excos of the Cooperative Society Nationwide.

Speaking on the August event, Usman Yahaya who is the Director of Administrations VIO made reference on a similar project with the former Minister of Federal Capital Territory Administration (FCTA) who is now the Governor of Kaduna State ‘Gov. Nasir El- rufai’ and how benefiting the project was to the civil servants at that time.

However, he urges Domak Shelter Ltd to make the Housing Scheme an affordable venture for the civil servants.

“The issue of Housing is very important in any civil servant life. When you come to look at it critically, after you must have served for 35-36 years then you retire and the pension is not forth coming. (Even the Housing, where to put your head is no longer there). Therefore, this forms a very important aspect of any civil servant life.”  He said

“Coming up with this very exercise is a very nice one for the VIO. This will go along way to help the staff of VIO plan their retirement life” He added.

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Mr. Mberi Yaro, the Vice chairman of the Directorate, Conference of Directors VIO stated his willingness for every VIO officers to participate in this opportunity. He therefore advised the both parties involved in the MoU to ensure commitment to this laudable project.

Responding, Amb. Kingsley Azonobi expressed his gratitude and commended the VIO management team for the partnership deed. In his statement, he assured them his commitment towards delivering affordable 1,000 housing units to their staff as well as real time monitoring technology ‘Project Watch’ which will enable all subscribers get the actual coordinates to their land.

Worthy of note, the legal adviser to the VIO ‘Bar. Udah’ a 33 years legal practitioner commended the efforts put together in the preparation of the Memorandum of Understanding (MoU). He therefore advised the both parties to honor the terms and conditions of the MoU.

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