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Bailout Fund: Kogi Govt Tackles EFCC, Denies Fixed Deposit In Sterling Bank

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The Kogi State government has denied allegation by the Economic and Financial Crimes Commission (EFCC) that it operated a fixed deposit account with Sterling Bank where bailout funds were allegedly stashed to generate interest contrary to the purpose it’s meant for.

Recall that the EFCC had few days ago obtained an ex-parte order from a Federal High Court in Lagos to freeze the said Sterling Bank Account No. 007357269 allegedly with a total deposit of N19,333,333,333.36, saying the sum of N666,666,666.64 had been misappropriated out of the money in the account by the Kogi State government.

But at a press conference in Abuja on Thursday, addressed by the State Commissioner for Information, Kingsley Fanwo, in company of Commissioner for Finance, Mukadam Asiwaju Idris, the State Auditor-General, Accountant-General, among other senior officials, the State government accused the anti-graft agency of pandering to the whims and caprices of rival politicians in order to score political points.

“The Government of Kogi State has called this Press Briefing to debunk the blatant lies told against her before the Lagos Division of the Federal High Court by the Economic and Financial Crimes Commission (EFCC), amplified in the media by sections of the Press and capitalized upon by shameless political vested interests.

“Gentlemen of the Press, for the records, the Kogi State Government vehemently denies having the sum of N19,333,333,333.36 or any other sum in a fixed deposit account with Sterling Bank Plc as alleged. The Kogi State Government states that it never gave any instruction to Sterling Bank Plc and the said Bank also did not fix on its behalf, any bailout fund or any other funds,” Fanwo said.

He added that, as of the July 23, 2019 when the state government utilised the bailout funds for the payment of salaries and allowances of civil servants and up to August 31, 2021 when the court order was procured by EFCC, it had only N46,000,000.00 cumulatively in the salary and bailout accounts in Sterling Bank.

“The current balance in the said Kogi State Bailout Account  and as of the date of the alleged ex-parte order is the sum of N999,190.50. Accordingly, the allegation that any part of the bailout fund was not used for the purpose for which it was secured is not only patently false, it is malicious and unsupportable by any records, including bank statements relating to all material times.

“That as of the 31st day of August 2021 when the Court Order to preserve the phantom sum of N19,333,333,333.36 was allegedly made, the Kogi State Salary Account No. 0073499012 where the sum of N19,999,000,000 was transferred to since 2019 for the payment of salaries had a credit balance of N44,816,195.24.

“That the allegation that the Kogi State Government authorised the opening of a fixed deposit account wherein it deposited the said Bail out loan of 20billion for the purpose of generating interest for itself is false.

“The Kogi State Government gave no mandate or instruction to Sterling Bank Plc to open a fixed deposit account on its behalf as it could barely meet the salary obligations for which the funds were received at the material time.

“That Sterling Bank Plc by its letter of 1st September 2021 confirmed in writing that the ‘the Kogi State Government does not currently operate or maintain a fixed deposit account with Sterling Bank’.

“Finally, the letter confirmed that account number  0073572696 cited in the alleged order of the Court is ‘an internal (mirror) account operated by the Bank for the purposes of managing the Kogi State Bailout Facility’,” Fanwo stated.

He continued, “This is neither happenstance nor coincidence, but a coordinated hostile action.

“While we are yet to conclude on the EFCC’s motive for this dishonourable act, we cannot but wonder if the ‘new’ EFCC is now lending its machineries for the use of politicians and detractors to tarnish the image of a State that has enjoyed the confidence and commendation of domestic and international partners as a bastion of accountability and integrity.

“Consequently, we urge Nigerians to know that the various news surrounding the alleged conversion of salary bail out funds in Kogi State are fake, the allegations and acts are those of malicious men and women employing the machineries of Government to do the bidding of their seen and unseen allies.

“The Kogi State Government will seek appropriate redress and will resist most vehemently the instant attempt and any further attempt to bring her into disrepute,” Fanwo stated.

Culled from the Leadership News Nigeria

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Enugu Revenue Leader Details Tax Plans, Commits to Responsible Fund Management

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In a bid to address rising public concerns and social media speculations about taxation in Enugu State, the Executive Chairman of the Enugu State Internal Revenue Service (ESIRS), Emmanuel Nnamani, has provided clarifications on the government’s tax policies. During a press briefing in Enugu, Nnamani dismissed what he described as “false and misleading claims” and reassured residents that the government’s fiscal operations are firmly rooted in law, transparency, and public good.

Clarifying Misinformation and Affirming Legality

Nnamani opened the session by stressing that no taxes or levies in Enugu State are imposed outside the provisions of the law. “Taxes and revenues in Enugu State remain within the limits of the law. We do not impose any levies outside what the law permits,” he stated, pointing to the Personal Income Tax Act (as amended) as the guiding legal framework.

He explained that the ESIRS collects personal income tax through two lawful means: Pay-As-You-Earn (PAYE) for those in formal employment, and Direct Assessment for informal sector workers. While compliance among salaried workers has been largely smooth, the agency sometimes employs legal enforcement mechanisms to ensure compliance among self-employed individuals.

Formalising the Informal Sector

A key challenge, he noted, has been bringing the informal sector—especially market traders and transport operators—into the formal tax net. Upon assuming office, his administration discovered that an overwhelming 99% of informal sector actors were not remitting taxes to the state, largely due to the disruptive influence of non-state actors engaged in illegal collections.

In response, the government introduced a consolidated ₦36,000 annual levy for market traders. This amount, payable between January and March, covers all relevant state-level charges, including those by the Enugu State Waste Management Agency (ESWAMA), Enugu State Structures for Signage and Advertisement Agency (ENSSAA), storage fees, and business premises levies. “Once this amount is paid between January and March, the trader owes nothing else for that year,” Nnamani clarified. Traders who fail to pay by March 31 are subject to enforcement.

For street vendors operating outside structured markets, an annual levy of ₦30,000 applies, with ESWAMA charges handled separately. Transport operators such as Okada riders, Keke drivers, minibuses, tankers, and trucks pay via a daily ticketing system.

A Human-Faced Approach to Enforcement

Although the law allows for a 10% penalty on unpaid tax and an interest charge tied to the Central Bank’s Monetary Policy Rate of 27.5%, Nnamani disclosed that the state has adopted a softer, pro-business approach. Instead of the full punitive charges, a flat ₦3,000 penalty is applied in most informal sector cases to promote ease of doing business and encourage voluntary compliance.

Taxation and the Cost of Rent

Addressing growing concerns over rising rent, Nnamani rejected claims linking the trend to state tax policies. He described the issue as a national challenge influenced by supply and demand, rather than fiscal policy.

Citing personal experiences dating back to 2015, he observed that a shift in private development preference – from rental apartments to gated residential estates – has contributed to the housing squeeze. “If we had more high-rise buildings, rent would drop,” he noted. The state government, he added, is taking proactive steps through the Ministry of Housing and Housing Development Corporation to build mass housing and student hostels near institutions like ESUT and IMT, freeing up central city housing and helping moderate rents.

Technology, Transparency, and Trust

In line with its commitment to transparency and digital innovation, the ESIRS has launched a tax calculator on its official portal – www.irs.en.gov.ng – allowing residents to compute their taxes with ease and clarity. “This is about transparency and giving our people confidence,” he said, inviting residents to compare Enugu’s tools with those in more advanced states like Lagos.

Understanding the Cost of Development

Responding to concerns that Enugu has become one of Nigeria’s most expensive states, Nnamani acknowledged the perception but clarified that the temporary inflation is largely demand-driven. With Enugu undertaking widespread infrastructural renewal – including smart schools, primary health centres, and hospitality infrastructure – the surge in construction activity has led to increased demand for building materials like granite and rods, which are sourced from other states.

“Once these projects are completed, demand will drop, and prices will stabilise,” he assured. He emphasised that the projects are visible testaments to what taxpayers’ money can achieve when properly managed.

A Call for Mutual Understanding and Civic Partnership

More than a tax clarification, Nnamani’s address served as a reminder of the symbiotic relationship between citizens and government. He appealed for public understanding, noting that when citizens fulfil their tax obligations, the government can, in turn, provide essential services and infrastructure that uplift everyone.

His message was clear: responsible taxation, managed transparently and invested wisely, is the bedrock of sustainable development. From roads to schools and healthcare to housing, Enugu State is demonstrating how taxpayers’ money, when efficiently deployed, can improve lives and build the future.

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The Leadership Deficit: Why African Governance Lacks Philosophical Grounding

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Leadership across nations is shaped not only by policies but by the quality of the individuals at the helm. History has shown that the most transformative leaders often draw from deep wells of ethical, philosophical, and strategic thought. Yet, in many African countries—and Nigeria in particular—there appears to be a crisis in the kind of men elevated to govern. This deficit is not merely political; it is intellectual, philosophical, and deeply structural.

There is a compelling correlation between the absence of foundational wisdom and the type of leaders Nigeria consistently produces. Compared to their counterparts in other parts of the world, Nigerian leaders often appear fundamentally unprepared to govern societies in ways that foster justice, progress, or stability.

Consider the Middle East—nations like the UAE and Qatar—where governance is often rooted in Islamic principles. While these societies are not without flaws, their leaders have harnessed religious teachings as frameworks for nation-building, modern infrastructure, and citizen welfare. Ironically, many of Nigeria’s military and political leaders also profess Islam, yet the application of its ethical standards in public governance is nearly non-existent. This raises a troubling question: is the practice of religion in African politics largely symbolic, devoid of actionable moral guidance?

Take China as another case study. In the last four decades, China’s leadership has lifted over 800 million people out of poverty—an unprecedented feat in human history. While authoritarian in structure, China’s model demonstrates a deep philosophical commitment to collective progress, discipline, and strategic long-term planning. In Western democracies, especially post-World War II, leaders often emerged with strong academic backgrounds in philosophy, economics, or history—disciplines that sharpen the mind and cultivate vision.

In stark contrast, African leaders—particularly in Nigeria—are more often preoccupied with short-term political survival than long-term national transformation. Their legacy is frequently one of mismanagement, unsustainable debt, and structural decay. Nigeria, for example, has accumulated foreign loans that could take generations to repay, yet there is little visible infrastructure or social development to justify such liabilities. Inflation erodes wages, and basic public services remain in collapse. This cycle repeats because those in power often lack not just technical competence, but the moral and intellectual depth to lead a modern nation.

At the heart of the crisis is a lack of philosophical inquiry. Philosophy teaches reasoning, ethics, and the nature of justice—skills that are essential for public leadership. Nigerian leaders, by and large, are disconnected from such traditions. Many have never seriously engaged with political theory, ethical discourse, or economic philosophy. Without this grounding, leadership becomes a matter of brute power, not enlightened governance.

The crisis of leadership in Africa is not solely one of corruption or bad policy—it is one of intellectual emptiness. Until African nations, especially Nigeria, begin to value and cultivate leaders who are intellectually rigorous and philosophically grounded, the continent will remain caught in cycles of poverty and poor governance. True leadership requires more than charisma or military rank—it demands the wisdom to govern a society with justice, vision, and moral clarity. Without this, the future remains perilously fragile.

♦ Dominic Ikeogu is a social and political commentator based in Minneapolis, USA.

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ADC & 2027: Is this alliance strong enough to dismantle APC & defeat Tinubu?

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It will not be easy to defeat Tinubu and the APC

Let me emphatically state without any ambiguity that for the opposition to make President Tinubu lose grip of Aso Rock in 2027 and force him to the status of a “former president” is a herculean task that requires more than defeating him in polling booths. Anyone who has followed President Tinubu’s political success from Lagos to Abuja will agree that he is a master of Nigerian politics. Therefore, to take power away from him, the opposition members must understand that the hurdle facing them is not child’s play but a huge political combat.

But yes, of course, the alliance of ADC without any doubt is very capable of defeating President Tinubu and sending APC out of Aso Rock, but caution must not be thrown to the wind – members of the party must be self-examining, honest, holistic, and critical in taking decisions without sentiments.

Why Peter Obi is the best choice for the ADC alliance

In all fairness, there are notable political heavyweights in this alliance, but if a square peg must be put in a square hole, considering records and national acceptance, Obi currently is the most popular accepted politician in Nigeria and should be the choice of ADC.

We must say it as it is, Obi is not a perfect human being, but in the annals of Nigerian politics, no one, dead or alive,/has the kind of political records he has, and this has endeared him to the hearts of millions of Nigerians. He is just real and different. Whether he is in a public service or in a private business, Obi has remained who he is: humane, caring, humble, civil, considerate, fair, and incorruptible.

In 2023, many did not give him any chance when he left PDP to join Labour Party, but for his character, competence, and transparency, etc. Nigerians not only followed him as a man of honour, but they also spent their money in his campaign throughout the country. It was a generally held view by the majority that he defeated President Tinubu in 2023, allegedly.

If Obi is not part of this political alignment, the best way I would describe the coalition would be an “old wine in a new bottle”, because the new bottle cannot make the old wine taste differently. There is no one in the alliance that we do not know his/her history and political antecedents. WHILE many of them are desperadoes and manipulators, and the reason we do not have Nigeria Airways and constant electricity, etc., many owe Nigerians an explanation of those stealing our gold, etc., in Zamfara State.

What I dread about the coalition

My fear is that I am constantly seeing the hands of Esau but hearing the voice of Jacob in the alliance. I say so because I have seen mischievous steps selfishly played out that are politically suicidal to the alliance and that will not be good for the interests of all Nigerians.

If Nigerians were to choose who will be the candidate of ADC, I am pretty sure that Obi would have an easy ride, but here only party agents will, and that is where the danger lies. Obi, we all know, is not ready to bribe anyone to vote for him because he sees politics as a service to the people and not a business. Owing to this reason, many say he is stingy, and I was in total shock and disappointed the day I saw Barr. Kenneth Okonkwo reprimanded Obi on national television for the same reason. But it is what it is, and I will leave that for another day. Obi is not a desperate politician, and this is one of the things that has differentiated him from others and why we Nigerians really want him.

I am frightened that Obi may be schemed out as the ADC presidential candidate. But let me re-echo this as a warning. If Mr. Peter Obi does not emerge as the candidate of the coalition or is forced to walk out of the alliance, the coalition becomes toothless, what late veteran football commentator Ernest Okonkwo would have described as “beautiful nonsense”. It will make the participation of ADC in 2027 a mere political exercise that will end in futility as long as the presidential election is concerned. And if, for any reason, Obi agrees to be a running mate to anyone, I will withdraw my support from him and give it to President Tinubu.

Mr. Peter Obi, Sir, you are not ready to buy the agents, and many of the agents seem not ready to vote for you either because of your kind of politics of “I will not give shi shi”. Games are already on. Are you ready for this coalition? Did you consider very well, and the coalition was not a trap for you, Sir? Because members of the alliance know that you are the most acceptable Nigerian politician currently and the only person the majority of Nigerians want. They are consciously aware that without you, they cannot defeat APC and President Tinubu, hence the ploy with the alliance. Furthermore, they know you will not try to influence the conscience of any party agent to vote for you during the primary; therefore, they will take advantage of that and influence the agents against you. Please, Sir, if you feel what I suspect, kindly withdraw from the alliance even before the primary. You are the hope of millions of Nigerians, and anywhere you go, we are sincerely willing to follow you.

Why the coalition should be encouraged

Irrespective of my expressed fear, the coalition is a good one. But let me re-emphasize that the mission of ADC members to wrestle power out of the hands of Mr. President in 2027 is like one going into a lion’s den to take its meat. It will not be easy. To get this accomplished, members of the party must make sacrifices and be willing to do away with selfishness. Mr. President is a man who knows how to compensate and care for those supporting him, like he has done to Nyesom Wike, the FCT Minister.

Wike, who may become a victim of his own political arrogance, could be consumed by his overzealousness to be a president one day, and will go to any political extent to make sure that his launch is not taken away from his mouth. And there are many Wikes around Mr. President. The mistake someone like Atiku made was not ensuring that Wike was forced out of the PDP before he left. His continuous stay in PDP is not politically good for ADC’s coalition. I will not be surprised if PDP’s structures are used in supporting APC in 2027 at some point. Consequently, it is a requisite without option that members of the alliance tenaciously combine their resources and strength together for the battle ahead without betraying each other. They must proportionately be prepared to match Mr. President and APC strategy-to-strategy, propaganda-to-propaganda, intimidation-to-intimidation, and force-to-force, etc. That is the only way President Tinubu and the APC could be beaten to submission.

Long, incredible processes an election winner must go through, or else he /she will be declared the loser.

In Nigeria, it absurdly seems like even winning all polling booths in an election is not enough for one to be announced a winner by the electoral umpire INEC (Independent National Electoral Commission). Why? Because there appear to be three stages, the candidates must first struggle with and overcome.

Stage (1): The candidate, his/her political party, and their agents must first of all make sure that the ballot boxes are safely transported from the polling booths to their designated collation centres without being hijacked by thugs or hired hoodlums and swerved with manipulated and stuffed boxes.

Stage (2): They must equally make sure that at the collation centres, the real figures are correctly computed without alteration.

Stage (3) – INEC: Here, the party agents must be very vigilant and ensure that the real figures, deprived of Tippex and cancellation of digits, are actually submitted without extra zeros and numbers added or removed. This becomes crucial in view of what happened in 2023, where INEC’s IReV, for whatever reason, failed to transmit election results from polling booths. This issue must be addressed and avoided so as not to repeat itself.

Remember, once the INEC Chairman announces results and pronounces a winner, one can do nothing but go to court. But the danger is that those factors that induced the announcement of the wrong winner are more likely to also influence courts’ proceedings and sustain what should not be sustained as a final judgment.

Thus, to say that any election winner in Nigerian polling booths who is not well-connected could get announced as a loser by INEC unless a miracle happens, and the most powerful one with political strength and financial influence gets declared winner is a statement past experiences have supported. Whosoever is not willing or who does not have the capacity to go through the processes that influence the final outcome should not bother going into politics, at least for now. It is sad and a very terrible situation, but that is the fact.

If coalition members fail at this juncture to get the electoral system reformed, it is not a good one. And I wonder why they are silent on this crucial point. Though one does not need to be pessimistic, if they fail to ensure that their engineers certify that all BIVAS machines are in good condition before being taken to their various destinations and results transmitted from polling booths, it may not be abstract to say that the election may have already been won and lost even without votes being cast.

Why Obi needs the alliance

In a free and fair election, Obi will clearly defeat APC and President Tinubu with or without the coalition. But because Nigeria is a country where elections are neither free nor fair, considering the factors analyzed above and below, Obi needs the alliance as much as the alliance needs him to close the loophole witnessed in 2023.

On the day of the election, coalition members should make sure that voters’ votes are counted as cast, results transmitted as enshrined in the electoral act without flimsy excuses on any concocted technical hitch, and figures written on the official provided result sheets. They should have the capacity against any bullion van, armored cars, bulletproof jeeps, and other private cars moving around. They should be at the forefront to defend their party’s votes and mandates and mobilize their confidants and agents throughout the country. It is no longer enough to tell the masses to stand with empty hands and defend their votes against well-armed criminals illegally moving around polling booths and collation centres, changing figures, and altering results. Most importantly, they must have the capacity to make the INEC Chairman announce the original documented results and not manipulated figures with Tippex. Anything less will be the same story as it was in 2023.

Conclusion

My sincere message to ADC party agents is that, in their capacity to decide who becomes the presidential candidate of their party, lies the hope of millions of Nigerians for a functioning society. They must be critical and holistic because the choice they make will either take Nigeria out of the throes of death, shape the future we all will be proud of, or pave the way for the continuation of hunger, killings, criminality, hopelessness, and disaster.

We have chosen before based on religion, but it failed us. We have also chosen based on ethnicity, and it was a tragedy. We have equally made choices based on party even when we saw better choices, but our loyalties were rewarded with hunger, insecurity, terrorism, killing, rascality, corruption, sorrow, and tears. We cannot continue in the same direction anymore. We must get it right this time by choosing capacity, integrity, competence, tolerance and a person of honor. Peter Gregory Obi is that option. Choose wisely.

♦ Uzoma Ahamefule, a refined African traditionalist and a patriotic citizen writes from Vienna, Austria. WhatsApp: +436607369050; Email Contact Uzoma >>>>

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