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EFCC’s Visit to Our Office Designed to Cause Us Unwarranted Embarrassment – Dangote

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The Chairman of the Dangote Group Aliko Dangote has said that the recent visit of officials of the Economic and Financial Crimes Commission (EFCC) to its office appeared designed to cause the company unwarranted embarrassment.

Dangote made the remarks in a statement clarifying the visit, and assuring of their commitment to helping the agency with its investigations.

EFCC officials visited the Dangote Group headquarters in Lagos over details of foreign exchange allocated to it by the Central Bank of Nigeria (CBN) from 2014 to the present.

Days after the visit, Dangote in a statement explained that: “On 6 December 2023, we received a letter requesting details of all the foreign exchange allocated to our company by the Central Bank of Nigeria from 2014 to the present. We understand similar letters were sent to 51 other Groups of companies requesting for same information spanning the same period.

“We responded to the EFCC to acknowledge receipt of the letter whilst seeking clarification on the subsidiaries or companies within the Group that they required information on. We also requested additional time to compile and properly present the extensive documentation spanning ten years.”

He, however, said, that “the EFCC did not provide the clarification sought and also did not honour our request for an extension and insisted on receiving the complete set of documents within the limited timeframe. Despite this constraint, we assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation.

“On 4 January 2024, our team delivered the first batch of documents to the EFCC. However, officers of the EFCC did not accept the documents, insisting on visiting our offices to collect the same set of documents directly.

“Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officers proceeded to visit our offices to demand the same documents in a manner that appeared designed to cause us unwarranted embarrassment. Worthy of note is the fact that the officials did not take any documents or files from our Head office during their visit as these were already in their office.

“We must emphasize that, to our knowledge, no accusations of wrongdoing have been made against any company within our Group. At present, we are only responding to a request for information to assist the EFCC with their ongoing investigation.”

Despite the development, he assured that: “As a law-abiding and ethical corporate citizen, we remain committed to providing the EFCC with all necessary information and cooperation. We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents, in good time, to aid their investigation.

“Our Group is a key contributor to the national GDP, the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange, and one of the highest taxpayers in the country. We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment conducive for investment and value creation for both local and foreign investors.

“We therefore call for the understanding and patience of our stakeholders. We will keep our stakeholders informed of any further developments.”

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Health Challenge: King Charles May Relinquish Throne to Prince William

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Prince William and Kate Middleton are said to be secretly preparing for wearing the crowns as King Charles has reportedly decided to leave the throne for his eldest son amid worsening health challenge.

The Prince of Wales, heir to the throne, is ‘quietly preparing’ to become the new king as the monarch’s increasingly ailing condition is causing huge alarm inside the Palace, according to a news report.

The King is being asked to delegate more responsibility to Prince William, the local media reported.

“William is just as worried about his father and wants to take as much pressure off him as he can. Kate’s still being eased in, but she’s made it clear she’s keen to step up as much as possible,” according to the insider.

“It’s clear to everyone that William and Kate are quietly preparing to be king and queen themselves, and it’s only a matter of time before Charles formally hands it all over.”

“He’s already started the process and is delegating a lot more, which is why you’re seeing William’s schedule getting a lot busier.”

The Palace insider claimed: “Queen Camilla is convinced Charles is a workaholic and she’s pushing him to slow down and focus on his health.”

King Charles, who had been put on light duty following the diagnosis, has returned to his royal engagements and in September.

Queen Camilla reportedly said her husband “is doing very well,” while attending the opening of the new state-of-the-art Dyson Cancer Center at the Royal United Hospital in Bath, England.

While the King and Queen are putting on a brave face, a second insider previously told the outlet things may be more grim behind the scenes, adding: “The palace is giving the impression that Charles is on the mend, but he’s still very sick.”

William has been slowly stepping up and preparing himself to replace dad, even as Princess Kate recovers from cancer too as she announced on September 9 that she has completed preventative chemotherapy.

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PDP Has Tolerated Wike for Too Long, Says Party’s Ex-Auditor Nnaji

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A former National Auditor of the Peoples Democratic Party (PDP,) Barr Ray Nnaji, has warned that the party has tolerated the FCT Minister Nyesom Wike for too long.

Nnaji stated this during a media interview, while offering his view on the crisis plaguing the party.

This comes amid the challenge from Wike daring any governor or leader of the PDP to publicly call him a mole.

The minister threw the challenge when he appeared on Channels Television’s Politics Today programme.

He had previously dared State governors elected under the platform of the PDP over his threat that he will put fire in their states.

Wike said he had no apology to anybody, insisting that heaven will not fall.

However, lamenting on what has become of the party, the former auditor stated that no right member of the PDP will commend what’s happening in the party, saying he doesn’t see Wike being in APC and the PDP at the same time.

Nnaji also said that the PDP wasted time in replacing its former National Chairman, Iyorchia Ayu, insisting that the vacuum created room for the crisis.

He said: “No right member of the PDP will commend what’s happening in the party.

“I don’t see Wike being in APC and the PDP at the same time. It’s the soul of Rivers State they are pursuing for the purposes of 2027.

“You know quite well that Wike used his power as a former governor to make sure that APC was assisted to come to power, that was why he was compensated with a ministerial appointment.

“He (Wike) wanted to pull the structure he had then into the APC. That explains why the APC dissolved its Rivers state executives, which prompted the members to go to the court.

“Wike himself, and those 25 State House of Assembly members who defected, when they found out that others weren’t following them, the problem in the state started.

“The main fact is that the acting Chairman failed to do what he ought to do. It cannot be blamed on the acting Chairman alone, it should be blamed on the Party entirely because the constitution is very clear.

“When a vacancy exists, what do you do? Of course, the constitution provided answers to all those things, but they failed to do it.

“Iyorchia Ayu was from North Central, when he left the position, Damagun came just to fill the gap.

“The party shouldn’t have wasted time in replacing Iyorchia Ayu. The party would have replaced Ayu with another person from that zone. If that would have been done, I don’t think we would have entered into this crisis.

“I don’t think it is as difficult with the party as it was with Amodu Sheriff, which ended up in the Supreme Court before the 2019 election.

“I still believe that the party will still come out of it, even though they didn’t do what they ought to have done early enough.”

On setting up a reconciliation committee, Nnaji had this to say: “I don’t know who they are reconciling with. Is it Wike or the governor?

“From the look of things, the government is not ready to play ball, when Wike wants the structure. And if you give Wike the structure, the governor becomes a follower of Wike.

“That is not what the governor wants, he’s supposed to be the leader of the party in the State and take charge.

“Wike, seeing what’s happening, believes he has done his parallel congress and produced a structure. Of course, the governor has his own structure, who the national picks will be another issue.

“I learnt Wike was invited to the disciplinary committee, I don’t know the outcome of the invitation but they waited too long to allow Wike to this point.

“He was not part of the formation of the party but he’s the most beneficiary of the PDP. Going ahead to seek the destruction of the party he has benefited a lot from doesn’t augur well for him, especially in the future.

“If he destroys PDP, who’s sure the APC will be a comfortable place for him to stay?

“I don’t think he’s thinking from that angle. It is his personal interest that matters most for him now.

“The PDP has to make sure it puts its house in order to see if it can liberate the country come 2027.”

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Dele Momodu Makes Case for Osun As a Strong Investment Destination

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By Eric Elezuo

Notable media entrepreneur and Chairman, Ovation Media Group, Aare Dele Momodu, has declared Osun State as a strong investment destination, with evidential circumstances that set it apart among a comity of states.

The veteran journalist made the revelation at the just concluded Osun Industrial Investment Summit, held in Osogbo, the state capital, where he was the guest speaker.

He eulogised the state as the cradle of the Yoruba nation as well as the heartland of South Western Nigeria, blessed economically and academically amongst other natural and developmental advantages.

Momodu further informed that the state “possesses a rich investment landscape across the sectors. From agricultural to mining processing to digital economy, the state of the living spring confronts potential investors with enticing possibilities. From the richly, European like Owalla dam for inland beach resorts to the mesmerizing Erin Ijesa waterfalls to the multi-billion dollar cultural assets, there is no better place to invest than Osun.”

Here’s a text of his full speech at the event, which had the state governor, Senator Ademola Adeleke, and other notable state officials in attendance.

“Osun State is the cradle of Yoruba nation, the heartland of South Western Nigeria. This is the cultural capital of highly developed Yoruba people with descendants in South and North America;

“Osun State is an economically and educationally rich state, boasting of huge solid mineral resources, highly literate  population, heavy multiple University presences, varied agricultural potentials and a billion dollar developing cultural industry;

“Osun is an unusually peaceful state within a turbulent but extremely great nation, a state that accepts non-indigene with open arms and support non-native business ventures and activities with native hospitality and patronage;

“Osun is a natural tech hub of the Federation as its sons and daughters dominate the tech innovation world and with the state already building a digital economy to tap into the acknowledged talents of young Osun tech enthusiasts;

“We are all gathered here to drum up support for inflow of investment into a state with an ambitious Governor, a widely traveled leader and a 21st century manager who is positioning the state as investors’ first choice within the comity of states;

“My pitching Osun today is not out of mere filial affiliation. I am Osun and Osun is me. But it is more than that. The case for Osun as an investment destination is strong and evidence based;

“The state possesses a rich investment landscape across the sectors. From agricultural to mining processing to digital economy, the state of the living spring confronts potential investors with enticing possibilities. From the richly, European like Owalla dam for inland beach resorts to the mesmerizing Erin Ijesa waterfalls to the multi-billion dollar cultural assets, there is no better place to invest that Osun;

“Beyond the natural investment potentials, I review trade logistics and I am confronted with appealing reality. One is the national railway line that traversed the heartland of the state. Then I saw the government masterplan for an international airport with a cargo terminal integrated alongside a free trade zone;

“Free trade zone? Yes. Airport of international standard?  Yes. Railway link directly to Apapa port in Lagos? Yes. Trade logistics and connectivity are top notch;

“What of internal infrastructure? Osun as a highly urbanized city is implementing a multi-sectoral , multi-billion naira infra upgrade across health, education, roads , water and environmental sectors. The major towns are construction sites alongside huge construction ongoing across the local governments to enhance rural – urban connectivity;

“As an investor, the destination is not ripe by possessing all the above. There must be something else which can actually tip the balance of decision making;

“Are there legal frameworks? Are there policy frameworks for the various sectors?

“Again, Osun beats all limitations with the state Governor running a battle of policy coverage for the state economy. From November 2022 to date, my investigation showed that the state has successfully established state policies covering several critical sectors;

“Aside the state Industrial Development Policy, Osun now has a state ICT policy, State Tech Innovation Policy, State Electricity Market policy, State Transport policy, State Mining policy among others;

“Investors thus have nothing to worry about in the area of policy frameworks. In many cases, the policies are being transformed into actual state legislations. This deepens assurance frameworks for investors;

“One of the biggest unique selling points for the state aside from all the above rare features is the Adeleke family, a dynasty with entrenched interest in the national economy and the entertainment world. The Governor and his family are in reality one of the biggest insurance and magnet for investors;

“To the diaspora population,  my charge is to make hay while the sun shines. Rush to Osun to take a piece of the pie;

“To the global investment community, Osun is a goldmine that has more than gold. As a globally traveled serial entrepreneur myself, Osun represents the first choice. No investor will regret putting his money into such a potentially buoyant state economy.

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