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Tuesday, January 12, 2016

UPDATES: Nigerian Newspapers' Headlines Today ( REVIEWS)

The  Economic and Financial Crimes Commission (EFCC) explained, yesterday, January 11, why it has not arrested former President Goodluck Jonathan following startling revelations on how the former National Security Adviser (NSA), Col Sambo Dasuki  (rtd) allegedly disbursed over $2.1 billion meant for arms purchase to various individuals.
According to Vanguard, this came as the anti-graft commission disclosed that one of the beneficiaries, the former Military Administrator of Kaduna State, Mr. Jafaru Isah had returned N100m out of the N170m he collected and was given administrative bail to source for the balance of N70m.
Another beneficiary, the  former Secretary to the Government of the Federation and leader of the Social Democratic Party (SDP), Chief Olu Falae however insisted that  he would not refund the N100 million he collected from Chief Tony Anenih, which was said to have come from Dasuki.
Vanguard front page today
Daily Sun however reports that the National Working Committee (NWC) of the Peoples Democratic Party (PDP), has urged Jonathan, to shed light on the alleged diversion of the $2.1 billion meant for arms purchase into his presidential campaign.
Addressing newsmen yesterday in Abuja, deputy national publicity secretary, Abdullahi Jalo, said Jonathan must break his silence on the investigation of certain stalwarts of the PDP to save the party from the public odium the probe has generated.
Jalo said: ”As all of you know, no single kobo can be spent by the Federal Govern- ment without an Act of the National Assembly. Money earmarked for arms pur- chase, some people diverted it to something else. So many people that you cannot even expect were involved. Now, darkness has come to light.”
Daily Sun front page
Meanwhile, the EFCC has extended its ongoing investigation into the $2.1bn arms procurement scandal to the office of former Vice-President Namadi Sambo, The Punch has learnt.
It was gathered on Monday, January 11, the EFCC operatives were looking into the office of the former Vice President because of some transactions that linked the office to that of the former National Security Adviser, Col. Sambo Dasuki (rtd.).
There was a report two weeks ago that Destra Investment, a company owned by the national publicity secretary of the PDP, Chief Olisa Metuh, allegedly paid N25m to a former special assistant to Sambo, Abba Dabo, on December 16, 2014.
The Punch front page today
In a related development, detectives have hit a stalemate in their bid to recover the N400 million traced to the company in which  Metuh has a stake, The Nationreports.
He is said to have told the EFCC that he would rather go on hunger strike than refund the money, which is believed to be part of the $2.1 billion arms cash allegedly diverted at the Office National Security Adviser (ONSA).
EFCC boss Ibrahim Magu, who revealed Metuh’s position yesterday in Lagos, stressed that the war against corruption had just begun.

The Nation front page

In another development, a set of fresh regulations on foreign exchange (forex) saw to the CBN yesterday ending the programme of funding bureaux de change weekly.
According to The Guardian, the scheme which has been in operation for the past 11 years cost the CBN $8.6 billion yearly based on $60,000 per operator.
But the apex financial regulator has permitted commercial banks to begin accepting cash deposits of foreign exchange from their customers. The decision, according to CBN, is not intended to be punitive but rather to ensure it is better able to carry out its mandate effectively and efficiently, which guarantees preservation of the nation’s scarce commonwealth.
The Guardian front page today