Headline

NASCO Group Denies Allegations of Financing Terrorism in Nigeria

Published

3 years ago

October 6, 2021

Eric

NASCO Group Nigeria has denied a media report that accused it of funding terrorism by Boko Haram and other terrorist elements in Nigeria and other African countries.

NASCO Group Nigeria in a statement said the report by journalist David Hundeyin on terrorism funding contains “defamatory and slanderous contents” as it will never “be sponsors to any criminal act, organization, or violence of any kind that will disrupt the peace and tranquility of the Nigerian state or any country in the world.”

“After the unfortunate events of 2001, thousands of people and entities around the world were subjected to various investigations,” NASCO said. “A detailed examination by the United Nations Security Council and the US Government totally exonerated NASCO’s late founder, Dr. Ahmed Nasreddin, and his business interest of all false allegations.”

After the statement was released, Hundeyin doubled down on his initial report that Nasreddin was not cleared of funding terrorism but delisted after by the United Nations Security Council after he “cut some kind of deal with the US government, likely involving asset forfeitures, to get his name off the list of terror financiers.”

Hundeyin also tweeted an NIA statement on freezing the NASCO account to refute the company’s claim that its accounts were never frozen.

Hundeyin published a report titled ‘Cornflakes for Jihad: The Boko Haram Origin Story’ on Sunday, October 3. The report ‘chronicles’ how NASCO Group founder Ahmed Idris Nasreddin was allegedly funding terrorism in Nigeria.

The report says that there is “the gap between the facts and the information released to the public is so wide as to be scarcely believable for respectable businessman who looked like he could not hurt a fly have done, to put him in the same article as a story about the world’s deadliest terrorist organisation.”

A section of the report claimed that “the Nigerian Financial Intelligence Unit (NFIU) has recently been gazetted, and one of the first things its counter-terrorism unit does is to freeze all assets linked to NASCO Group Nigeria Limited.

“Apparently, Mr. Nasreddin has been doing some creative accounting to hide the fact that he is moving money around the world to fund Islamist terror organisations. Or at least, that was what the Nigerian government itself wrote to the UN in the same letter,” Hundeyin wrote.

“A Wikileaks cable from 2002 hints at American hesitancy on the subject of freezing NASCO’s Nigerian assets due to the economic implications for Plateau State and political implications in Nigeria.

“The real proof of Nasreddin’s double life, however, comes from the US Treasury Department which publishes a comprehensive account of how he launders and moves money around the world for terrorist entities – Nasreddin has been funding and laundering money for none other than GSPC – the Algerian terrorist group which Yakubu Katsina and Shahru Haruna are also involved with at the exact same time.”

In denial of claims stated in the report, NASCO referred to the United Nations Security Council Resolution SC/9172 dated 15 November 2007 & United Nations Security Council Resolution S/2008/25 dated 17 January 2008 where it was established that it “never at any time associated with the sponsorship of terrorism – directly or indirectly – anywhere in the world.”

NASCO Group said, “a similar investigation was carried out by the National Intelligence Agency of Nigeria, where it also came to the same conclusion, thereby exonerating our late founder and NASCO Group of any act or complicity in the sponsorship of terrorism in Nigeria or in any other country.”

The company stated that there was no time that its assets or any of its associated trade, commercial, and business interests were ever seized nor were their accounts frozen due to any of these investigations.

“NASCO can also categorically affirm that it has never been associated with nor had businesses dealings with any of the persons mentioned in the false report,” NASCO Group said.

The NASCO Group described the claims as a “false report, which was done in a clearly orchestrated manner with malicious intent, aimed at causing commercial damage to our successful brands.”

Hundeyin, however, insisted NASCO lied in its statement and challenged the company to institute legal action against him, saying the statement was a “weak response to include even a legal threat.”

Source: The Guardian

Headline

Tinubu Presents N47.9trn 2025 Appropriation Bill to NASS

Published

4 days ago

December 18, 2024

Eric

President Bola Tinubu, on Wednesday, presented the proposed 2025 federal budget to a joint session of the National Assembly.

The N47.9 trillion budget saw a whopping N3.5 trillion allocated to the education sector.

Other sectors that got higher allocations include defence and security – N4.91tn, infrastructure – N4.06tn and health – N2.4tn.

“It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of the National Assembly of Nigeria titled, ‘The Restoration Budget’ security peace, building prosperity,” Tinubu said as he concluded his 30-minute presentation at 1:10pm.

This budget highlights the government’s focus on improving education, healthcare, and infrastructure, in line with its ‘Renewed Hope Agenda’ aimed at boosting the economy and addressing key national priorities.

The live broadcast of the budget presentation today revealed the government’s plans for the next fiscal year. With a strong emphasis on human capital development, the president highlighted the budget’s commitment to improving the nation’s economic foundation.

Education sector receives major funding

A significant portion of the 2025 budget is dedicated to education, with N3.5 trillion allocated to the sector. President Tinubu stated that part of this funding would be directed toward infrastructure development, including support for Universal Basic Education (UBEC) and the establishment of nine new higher educational institutions.

“We have made provision for N826.90 billion for infrastructural development in the education sector,” Tinubu said.

This allocation aims to improve educational facilities and support ongoing efforts to strengthen Nigeria’s educational system.

Focus on human capital development

During the presentation, the president emphasized the importance of investing in Nigeria’s human capital. “Human capital development, our people are our greatest resource. That is why we are breaking record investment in education, healthcare, our social services,” he remarked.

Tinubu also pointed to the N34 billion already disbursed through the Nigerian Education Loan Fund (NELFUND) to assist over 300,000 students.

The budget includes continued investments in healthcare and social services as part of the broader goal of enhancing the quality of life for Nigerians.

Strengthening the economy and national security

Tinubu highlighted that the 2025 budget is designed to build a robust economy while addressing critical sectors necessary for growth and security.

“This budget reflects the huge commitment to strengthening the foundation of a robust economy, while addressing the critical sectors essential for the growth and development we envision; and secure our nation,” he said.

The budget aims to tackle key challenges and foster long-term economic stability by prioritizing infrastructure and development in key sectors.

Healthcare and social services allocations

In addition to education, Tinubu focused on the allocation for healthcare and social services. The government plans to increase investments in healthcare infrastructure and services to ensure broader access to essential healthcare for Nigerians.

These investments are part of the administration’s strategy to improve overall living conditions and enhance public health across the country.

President Tinubu’s proposed 2025 budget is said to reflect the administration’s commitment to achieving its development objectives, with a focus on economic growth, human capital development, and infrastructure improvement.

As the National Assembly reviews the budget, the president reiterated his administration’s resolve to address the nation’s most pressing needs.

Source: Nairametrics

Headline

Ghana’s President-elect Mahama Visits Tinubu in Abuja

Published

5 days ago

December 17, 2024

Eric

Ghana’s President-Elect, Dr. John Dramani Mahama, a courtesy visit to President Bola Tinubu at his residence, Presidential Villa, State House on Monday.

Mahama won 56 percent of the votes in this month’s presidential election, compared to the ruling party candidate and Vice President Mahamudu Bawumia, who secured 41 percent.

The landslide comeback for former president Mahama ended eight years in power for the New Patriotic Party (NPP) under President Nana Akufo-Addo, whose last term was marked by Ghana’s worst economic turmoil in years, an IMF bailout and a debt default.

Headline

I Stand by What I Said, Kemi Badenoch Replies VP Shettima

Published

2 weeks ago

December 12, 2024

Eric

The leader of the United Kingdom’s Conservative Party, Kemi Badenoch, has lashed back at Vice President Kashim Shettima over the latter’s reaction to her comments about Nigeria.

Badenoch was born in the UK in 1980 to Nigerian Yoruba parents.

Badenoch, who attained age 16 in Nigeria before departing the country for the UK where she was elected Conservative Party’s leader, described Nigeria as a nation brimming with thieving politicians and insecurity.

However, Shettima, while speaking at the 10th Annual Migration Dialogue at the Presidential Villa in Abuja on Monday, December 9, 2024, accused Badenoch of “denigrating her country of origin” with her remarks.

The vice-president listed influential people whose families had migrated to other countries, commending former UK Prime Minister Rishi Sunak as a “brilliant young man who never denigrated his nation of ancestry.”

Reacting on Wednesday, Badenoch lashed back at Shettima, saying she doesn’t do “PR for Nigeria”.

Her spokesperson, as the Tory leader, according to UK Express, said: “Kemi is not interested in doing Nigeria’s PR; she is the Leader of the Opposition in the UK.

“She tells the truth; she tells it like it is; she isn’t going to couch her words. She stands by what she said.”