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Employment scam in MINT: Group petitions CBN, National Assembly, CCB, others: CBN Deputy Governor Emem Usoro; her aide Olakunle Abiola indicted Leading Reporters
Investigation

Employment scam in MINT:  Group petitions CBN, National Assembly, CCB, others:  CBN Deputy Governor Emem Usoro; her aide Olakunle Abiola indicted

by Leading Reporters December 9, 2024
written by Leading Reporters

A pro-anticorruption and good governance group, Network Against Corruption and Trafficking, NACAT has petitioned the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, the House and Senate Committee Chairmen on Banking and other financial institutions, their counterparts in the Ethics and Privileges and the Civil Service Commission, requesting for an exhaustive review of the employment of the Ag. Executive Director, Corporate Services in the Nigeria, Security, Printing and Minting, Mr. Adesoji Ogungbesan.

In the petitions, exclusively obtained by LeadingReporters, the group appealed to the authorities to investigate an alleged back-door employment of Mr Adesoji Ogungbesan who was allegedly interviewed for the position of a Senior Manager, only to be appointed an Executive Director, against MINT employment and civil service commission laid down rules.

It was alleged that Adesoji Ogungbesan who previously worked with Sahara Group was presented to the board of directors of MINT by one Olakunle Abiola, an aide to the Deputy Governor of Central Mrs Emem Usoro for employment.  LeadingReporters leart that Mr. Abiola in his efforts to help his friend, Mr Ogungbesan recommended him to his principal, for employment in MINT as an Assistant General Manager.  But upon being interviewed, the panel that interviewed Mr Ogungbesan in their reported posited that he was not qualified for the position of an Assistant General Manager, but rather recommended that he be employed as a Senior Manager in the government-owned MINT.

Surprisingly, instead of heeding to the report and recommendation of the panel, Mr. Ogungbesan was ‘schemed’ into the position of Executive Director by no other than Deputy Governor Emem Usoro.

Speaking with LeadingReporters, the group’s Director Compliance, S. I. E. Oseagah said that his organisation received a verifiable petition that suggested criminal manipulation and glaring employment scam which should not be waved aside.

“Upon receipt of a petition, we verified that there was a clear case of criminal infractions, violation of laid down rules, and employment scam.  This are not in tune with the reforms the Central Bank of Nigeria Governor, Mr  Olayemi Cardoso is spearheading in that agency, hence the need to call his attention and that of other stakeholders to this glaring anomaly.

The group said that it would continue to assist creative reforms of the government and lend a voice for the greater good of the nation.

December 9, 2024 0 comments
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Investigation

Thoughtless Spending: How Immigration CG Kemi Nandap Spent N77million to buy buses for dogs; spent another N43m on  free-live chat on Immigration Website.

by Leading Reporters December 5, 2024
written by Leading Reporters

Thoughtless and irresponsible spending and diversion of immigration service’s funds using every possible means have heightened in the Nigeria Immigration Service NIS, under the watch of the current CG Kemi Nanna Nandap.  This time, the Comptroller GeneraL has allegedly spent a whopping sum of N76,870,573 in procuring vehicles for the movement of dogs attached to her office. Another frivolous and fraudulent payment was the payment of N42,887,500 paid to Network Solutions and Investment Limited for the provision of free-livechat on the Immigration website.  Not only that livechats are mostly provided for free, but a premium charge also costs less than US$20/month, thus wasting N42,887,500 by the current leadership of Nigeria Immigration.

According to the findings on Govspend, CG Kemi paid the said sum of N76,870,573 to Metropolitan Limited the sum of N62,669,362.78 on the 20th of May, 2024 and another N15,201,170 on the 26th of May, 2024 via payment Numbers 1001182589-5 and 1001184474.24 respectively for provision of vehicle for conveying dogs.

Other suspicious payments include the sum of N42,887,500 paid to Network Solutions and Investment Limited via payment No 1001161522-5 for provision of a service that is offered free of charge on the web.  A simple check on the costs of integrating livechat on the website revealed that it costs less than US$20/month for a premium package. Above all, one begins to wonder why the said amount has to be spent since the existing site has a livechat onit.

Another suspiciously fraudulent payment was the one made to Ike Global Agro-Farm Limited, a purely agro-allied company to provide light at the CIS residence in Imo State.  This gulped a total sum of N16,943,723.69 via payment No. 16001151299-112.

Series of fraudulent payments have continued to be made under CG Kemi watch.  A discreet source that spoke to LeadingReporters on condition of anonymity revealed that the CG is in a spending-spree as a way of raking in as much money as she could before her retirement.  The source said that over 40% of payments processed and paid by Nigeria Immigration Service are hoax and simple ways of stealing from the service’s treasury.

CG Kemi, whose tenure in office has elapsed is believed to be in her last spending spree, a move the source said is to enable her rake in as much as she could before she lives the service.

December 5, 2024 0 comments
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Africa & WorldBusiness

China Discovers Massive Gold Reserves in Hunan

by Leading Reporters November 24, 2024
written by Leading Reporters

China has uncovered a significant gold deposit in Hunan province, valued at an estimated $83 billion. The discovery, made in Pingjiang County, includes over 40 gold ore veins found more than 2,000 meters underground.

Preliminary studies have identified 300.2 tons of gold in the core exploration area, with the highest-grade samples containing up to 138 grams of gold per metric ton. Experts predict the site could hold over 1,000 tons of gold reserves at greater depths, exceeding 3,000 meters.

China’s gold reserves

The discovery highlights China’s position as the world’s largest gold producer, accounting for 10% of global output in 2023, according to the World Gold Council. However, despite its production dominance, China consumes far more gold than it produces.

In the first nine months of 2023, the country consumed 741 metric tons of gold, while domestic mines produced only 268 tons. This shortfall has made China increasingly reliant on imports to meet its demand for jewelry, technology, and other industries.

Gold reserves, such as the one in Hunan, refer to deposits that can be mined profitably. These discoveries are crucial for a nation heavily dependent on gold imports, as they reduce reliance on foreign markets and strengthen domestic resources.

Gold Prices Surge Amid Global Tensions

Gold prices have experienced a sharp rise this year, driven by escalating geopolitical tensions worldwide. On October 30, 2024 the most actively traded gold futures contract on the Shanghai Futures Exchange reached a record high of 639.48 yuan per gram.

By Thursday’s close, the contract traded at 617.7 yuan per gram, marking a 27.8% increase since the start of 2023. The ongoing rise reflects growing investor interest in gold as a safe-haven asset during times of uncertainty.

At current exchange rates, one U.S. dollar equals 7.2383 yuan, further emphasizing the significant value of gold in both domestic and international markets.

The strategic importance of the discovery

The Hunan discovery could play a role in addressing China’s gold supply challenges. With a widening gap between production and consumption, the reserve is expected to boost the country’s ability to meet its own gold needs.

Analysts believe that tapping into such deposits will also help stabilize the domestic market and reduce dependence on volatile global gold prices.

The Pingjiang County site is one of the deepest gold discoveries in China. Its rich veins and high-grade ore samples highlight the potential for significant economic gains. However, extracting gold from such depths poses technical and logistical challenges, requiring advanced mining techniques and substantial investment.

The gold reserves found in Hunan represent a pivotal moment for China’s resource management and economic strategy, opening new opportunities to strengthen its position in the global and local precious metals market.

November 24, 2024 0 comments
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HeadlinesOpinion

Welcome The APC, A Party of Demagogues Only Motivated By Power

by Leading Reporters November 24, 2024
written by Leading Reporters

By: Daniel Noah Osa-Ogbegie

The All Progressives Congress APC have long been noted as a political party whose only motivation is to grab power for the sake of power. They showed it in 2014/2015 when they gave their ticket to a morose Buhari because of his popularity in the core North of Nigeria with a constant twelve million votes in order to grab power.

Edo State Governor Monday Okpebholo kneeling before Philip Shaibu and APC leaders
Edo State Governor Monday Okpebholo kneeling before Philip Shaibu and APC leaders

In addition to fielding Buhari as their (APC) presidential candidate, they did everything possible to demonize Goodluck Jonathan while presenting Buhari as the Messiah Nigeria had been waiting for to take away their sufferings by ending corruption and instituting a frugal government.

Buhari had no message beyond fighting corruption and enforcing discipline, yet many Nigerians were carried away and thought he was ” an elegant cow coming from Uzebu ” ( please ask a Benin person to interpret this for you).

All the things the APC criticised Jonathan for during that campaign window, they did worse. They changed nothing and added to the woes of Nigerians. For instance, Buhari said he would sell off the planes in the Presidential fleet or convert them to start a national commercial carrier if elected as President. Buhari did not only fail to do this, he acquired more jets. The only attempt at starting a national carrier was the grotesque launching of Nigerian Air artistic design on paper with millions of Dollars.

Buhari’s government was a cesspool of corruption, inefficiency, nepotism and total abdication of governance.

Buhari’s successor, his fellow APC leader and founder, Bola Tinubu, continued from where Buhari stopped and took it further in profligacy, larceny, nepotism and grand insensitivity to the plight of Nigerians. I will dwell on Tinubu another day, but before anyone calls me names, it is trite to offer this reminder that I supported Tinubu because he was the candidate of my then political party and the fact that I thought he would replicate some of his dynamisms as Lagos State Governor as President of Nigeria. My choice at the time was actually Prof. Yomi Osinbajo, until Tinubu emerged as candidate.

The APC have clearly shown that it is a party that over promises and under deliver because of their desperation for power. They showed this with Buhari and Tinubu and are now showing it with Okpebholo in Edo state.

From 2020 till the last Governorship election in Edo state, Edo APC leaders and their social media messengers have been very huge on allowing Edo based Edo people to be the fulcrum of Edo Government and criticised Godwin Obaseki for importing Edo people from outside the state to run his government. With what I have seen of the appointments Monday Okpebholo has made so far, he is proving to be a lot worse than Godwin Obaseki in this area. His government so far is 95% diasporan, if you like, none Edo based.

I deliberately stayed off Monday Okpebholo’s appointments so far so as to wait till most of the appointments are made to give him the benefit of doubts, but I would like to make preliminary observation on his appointments so far, especially the appointment of the Managing Director of Edo Broadcasting Service.

I can not fault Sulaiman Aledeh’s appointment in anyway. He’s a friend ( by friend, I mean he’s not a foe, and I personally know him and he knows me) , a fellow alumnus of Western Boys’ High School, Benin City ( some years my senior) and a fellow Ikpoba Hill boy.

As much as I wish him well, APC social media urchins saying he’s home grown is overreaching. He’s a Lagos boy, a diasporan that Edo APC so much loathed for over five years now.

The way Edo APC disparaged Obaseki, Asue Ighodalo and some other personalities in Obaseki government because they didn’t always live and work in Edo state or that they didn’t school in Edo state or that they didn’t grow up in Edo state, one would think that their appointments would be dominated by Edo based personalities.

Only one Edo based person has been appointed by Okpebholo so far, after almost 15 appointments. His name is Mr. Emmanuel Okoebor, who was as recently as January this year the Regional Manager of UBA, Edo/Delta region. If Mallam Gani Audu can be counted as Edo based, then he would be the other one. If anyone contests this conclusion, feel free to controvert me with facts and I will tell you where they all live and work. The only person I didn’t know until now was the newly appointed SSG.

During this last campaign, I warned Edo people not to listen to the jejune arguments of homeboy and foreign based orchestrated by APC leaders, that they were mere demagogues and filibuster to hoodwink Edo people. Now they have clearly vindicated me so early in their adhoc government.

May Edo win!

News Source: https://www.truthlivenews.com/welcome-the-apc-a-party-of-demagogues-only-motivated-by-power

Daniel A. Noah Osa-Ogbegie, Esq. writes from Etete New Layout, Benin City.

November 24, 2024 0 comments
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Headlines

Terrorist Intent: Simon Ekpa, Four Others detained

by Leading Reporters November 21, 2024
written by Leading Reporters

Simon Ekpa, has been arrested in Finland along with four others on terror-related charges, The Finnish-Nigerian separatist and self-proclaimed leader of the Biafra Republic Government in Exile

It was gathered that the Finnish Central Criminal Police confirmed the arrests, citing allegations of incitement to commit crimes with terrorist intent and financing terrorism.

The arrests, carried out earlier this week, led to the suspects being remanded by the district court of Päijät-Häme. Authorities allege that Ekpa, a Finnish citizen of Nigerian descent, used social media to incite violence in southeastern Nigeria, exacerbating tensions in the region.

Crime Commissioner Otto Hiltunen, leading the investigation, emphasized the cross-border nature of the case, highlighting international cooperation in uncovering the alleged activities.

Ekpa, known for his radical activism, has a history of controversy. In 2023, Finnish police briefly detained him for suspected fundraising fraud. Globally, he has gained notoriety for advocating election boycotts and publicly endorsing violence. In one of his widely shared statements, Ekpa said, “I support violence against Nigerian government forces. This is self-defense against war crimes committed against us.”

The arrests signal a critical development in addressing allegations of international terrorism and separatist militancy, with implications for security both in the South East particularly, in Nigeria and abroad.

November 21, 2024 0 comments
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Headlines

Banditry: Constituents vow to recall embattled Senator Shehu Buba

by Leading Reporters November 13, 2024
written by Leading Reporters

The embattled Senator Shehu Buba, who represents the South Senatorial District of Bauchi State, is currently facing a storm of allegations and constituent discontent following revelations linking him to individuals with terrorist ties in Northern Nigeria. The situation has escalated rapidly, with the Department of State Services (DSS) investigating his potential involvement with wanted terror suspects. This deepening scandal is fueling grassroots movements within his constituency, who are now calling not only for accountability but also for a recall of the senator himself.

Sources close to the senator and political observers suggest that Buba’s once formidable political career may be in jeopardy, as his actions come under intense scrutiny. The senator, who once enjoyed a degree of respect and influence within Bauchi State, is now witnessing his reputation unravel amidst revelations of his alleged connections with Abubakar Idris, a known terrorist figure arrested on August 17, 2024. Idris’s arrest reportedly implicated Buba in ways that have raised alarm among his constituents, who are outraged by the shocking possibility that one of their own elected leaders could be among the people abetting terrorism/banditry and causing more hardship for them.

This backlash against Senator Buba has sparked the initiation of a formal recall process, a rare and challenging political maneuver that shows the depth of dissatisfaction among his constituents. The movement has taken shape, with growing numbers of registered voters signing a petition to force the senator’s recall, aiming to reach the threshold required by law to initiate a referendum. If the recall process gathers sufficient momentum, the Independent National Electoral Commission (INEC) will be compelled to conduct a vote, giving Buba’s constituents a historic opportunity to remove him from office—a move that would send serve as a lesson to other political office holders fueling evil with their positions.

In addition to this ongoing move, information available to 247ureports indicate that Senator Buba’s predicament is further exacerbated by recent revelations questioning his true origin. Investigations indicate that Buba, whose background was previously unknown to many in Bauchi, originally hails from Barkin Ladi Local Government Area in Plateau State. He reportedly moved to Nabardo village in Bauchi’s Toro Local Government Area in 2001 under tenuous circumstances. This discovery has fueled resentment among constituents, some of whom are now challenging his legitimacy as a representative of Bauchi State.

“We thought he was one of us, but he’s not even a Bauchi indigene,” an anonymous community leader lamented in an interview with this reporter.
Senator Buba’s political rise is as controversial as it is unlikely. After moving to Bauchi, he initially found a foothold through family ties; his sister was married to Abdullahi Yuguda, a relative of former Bauchi Governor Isa Yuguda. Securing a position as a teacher in a local primary school, Buba gradually wove himself into the political fabric of Bauchi State, securing an appointment as Senior Special Assistant (SSA) on Nomadic Education under Governor Yuguda’s administration. However, his tenure was short-lived, as he was reportedly dismissed after just three years. Undeterred, Buba shifted allegiances, joining former Vice President Atiku Abubakar’s campaign machinery and aligning himself with the influential Miyetti Allah, an association that has long been enmeshed in Nigeria’s complex socio-political landscape.

By 2019, Buba’s political ambitions took a significant leap forward when he was appointed Caretaker Chairman of Toro Local Government Area, a position conferred upon him by Bauchi State Governor Bala Mohammed. Despite being relatively obscure, Buba’s career trajectory continued upward, and in 2022, he declared his senatorial ambitions. He secured the All Progressives Congress (APC) nomination under contentious circumstances, with insiders attributing his success to the influence of Yakubu Dogara, a prominent political figure in Northern Nigeria.

“The way he clinched that nomination was strange, almost as if it was handed to him. How he won the election still remains a mystery to most of us,” a constituent revealed, casting doubt on the legitimacy of Buba’s political rise.

Upon winning the senatorial seat, Buba was assigned the powerful position of Chairman of the Senate Committee on National Security and Intelligence—a role traditionally reserved for senior and highly reputable lawmakers. His appointment has been met with widespread disapproval, with critics labeling it as an anomaly and a grave error in judgment by the National Assembly.

“To have someone with such dubious affiliations in charge of national security oversight is a dangerous gamble,” a political analyst told 247ureports.

Speculations also abound that Buba’s appointment as the Committee Chairman was not based on merit but was orchestrated to undermine state authorities in Bauchi, reflecting the complex power dynamics at play.

“He was placed in charge of the Committee “to fight” the Bauchi government,” a source opined.

It was further gathered that these recent allegations against Buba have now forced him to avoid public appearances, especially in his constituency, with many speculating that he fears a backlash from angry residents. Since Idris’s arrest, Buba’s visibility has sharply declined, with no known public engagements or constituency visits, further adding to the speculation that he is distancing himself from the growing outrage.

“His absence speaks volumes,” said a political observer.

This is a developing story. Stay tuned.

November 13, 2024 0 comments
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Debt or Tea Management Office? How Debt Management Office wasted N26.2m on tea
Exclusives

Debt or Tea Management Office?  How Debt Management Office wasted N26.2m on tea

by Leading Reporters October 31, 2024
written by Leading Reporters

The Patience Oniha-Debt Management Office (DMO) has escalated its frivolous spending, this time on tea. According to insider information exclusively obtained by LeadingReporters, the DMO management has wasted a staggering N26,231,612 (Twenty Six Million, Two Hundred and Thirty One Thousand, Six Hundred and Twelve Naira) ‘drinking’ tea.

This new spending spree throws up the issue of morality in leadership.  One may thus ask if the Nigeria’s Debt Management office is truly managing Nigeria’s debt or incurring more debts for the country through its tea extravaganzas and tea-menias.

The information revealed that the Debt Management Office on the 15th of August, 2024 paid the sum of N26,231,612 to three vendors for supply the office tea.  On the said date, Franjesica Nigeria Limited was paid the sum of N8,743,786 via payment code 1001204431-42 for supply of tea, while Fesuch Nigeria Limited was paid the sum of N8,744,115 for supply of tea on the same 15th of August, 2024.

Information obtained further revealed that on the same 15th of August, another monstrous sum of N8,743,711.89 was paid for supply of tea to Keyless Nigeria Ltd via payment No 1001205531-38, bringing the total of money spent on tea and paid on the same day to N26,231,612.

This outrageous and unsubstantiated spending will stir the question of morality for a government agency saddled with the responsibility of management Nigeria’s debt.

October 31, 2024 0 comments
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How SMEDAN awards multi-million naira contract to company linked to fraudulent L.G. Caretaker Chairman – Hon Tervershima Abraham Agber
Investigation

How SMEDAN awards multi-million naira contract to company linked to fraudulent L.G. Caretaker Chairman – Hon Tervershima Abraham Agber

by Leading Reporters October 31, 2024
written by Leading Reporters

The Small and Medium Enterprises Development Agency of Nigeria has awarded a multi-million Naira contract to Daho Global Resources Limited, a company co-owned by Hon. Tervershima Abraham Agber.

According to information uncovered by LeadingReporters, SMEDAN paid Daho Global Resources Limited N23,860,465.12 on March 30, 2024, via payment code 0222027001, to offer skill acquisition training in the Southeast Geopolitical zone, a project our investigation revealed was not carried out.

Recall that the erstwhile Caretaker Chairman of Gboko Local Government Area Council, Hon. Tervershima Abraham Agber was one of the three local government chairmen sacked by Benue State Governor, Governor Hyacinth Alia for non performance, misconduct, and mismanagement of council funds.

Other agencies and ministries that have continued to patronize Daho Global Resources Limited include, the Federal Ministry of Agriculture and Food Security,  Federal Ministry of Environment and National Rural Electrification Agency.

A source in the know further revealed that most contracts awarded by SMEDAN violate Public Procurement Act and beneficiaries are usually friends, referrals from top government offices.

“Most monies moved from that agency take the form of sensitization programme”.  These monies end up in the personal pockets of some top management staff and friends of politicians. The source threatened to expose all the prevailing anomalies in the agency through an international press conference to be organized in conjunction with civil society organisations in no distant time.

October 31, 2024 0 comments
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Headlines

Nigeria now worse than Chad and South Sudan as countries with the lowest and most alarming life expectancy

by Leading Reporters October 25, 2024
written by Leading Reporters

Nigeria is now rated the worst country with the lowest life expectancy in the world with its 54 years life expectancy.  Other countries ranked better than Nigeria include Chad with 55 years of life expectancy. South Sudan, Lesotho, and Central African Republic have 57 years of life expectancy each.

This is according to new data based on the United Nations Populations Division Estimates. 

While advancements in healthcare, technology and science have continued to positively impact the living conditions of people across the globe, these feats are absent in many countries.  Some of the countries on the lowest socio-economic rungs are facing challenges such as restiveness and terrorism, political instability, abject poverty and abysmal healthcare facilities and services. These factors have continued to negatively affect the living standards of the people, hence a declining life expectancy.

Nigeria with a 54year life expectancy tops the list of countries with the worst and most declining life expectancy.  Other countries assessed include Chad which has 55 years life expectancy.  Chad has been facing challenges of malnutrition, extreme poverty and limited access to clean waters and healthcare.

Losetho has 57 years life expectancy.  The country’s inability to curb the surging prevalence of HIV/AIDS has continued to affect 23% of its adult population. These HIV carriers hardly have access to quality health care, including access to antiretroviral drugs.

Central African Republic shares the same 57 years of life expectancy as South Sudan and Lesotho.

Central African Republic (CAR) like South Sudan has been engulfed in arms restiveness, political instability, and displacements. This situation has led to food shortages and a lack of access to good healthcare facilities, Many communities in these countries lack access to basic necessities such as clean water, nutritious food, and medical care. Diseases like malaria and diarrhea, contribute to high child mortality rates, further lowering the country’s life expectancy. This combination of limited resources and persistent instability continues to impact the public health outcomes in the region.Nigeria is now rated the worst country with the lowest life expectancy in the world with its 54 years life expectancy.  Other countries ranked better than Nigeria include Chad with 55 years of life expectancy. South Sudan, Lesotho, and Central African Republic have 57 years of life expectancy each.

This is according to new data based on the United Nations Populations Division Estimates. 

While advancements in healthcare, technology and science have continued to positively impact the living conditions of people across the globe, these feats are absent in many countries.  Some of the countries on the lowest socio-economic rungs are facing challenges such as restiveness and terrorism, political instability, abject poverty and abysmal healthcare facilities and services. These factors have continued to negatively affect the living standards of the people, hence a declining life expectancy.

Nigeria with a 54year life expectancy tops the list of countries with the worst and most declining life expectancy.  Other countries assessed include Chad which has 55 years life expectancy.  Chad has been facing challenges of malnutrition, extreme poverty and limited access to clean waters and healthcare.

Losetho has 57 years life expectancy.  The country’s inability to curb the surging prevalence of HIV/AIDS has continued to affect 23% of its adult population. These HIV carriers hardly have access to quality health care, including access to antiretroviral drugs.

Central African Republic shares the same 57 years of life expectancy as South Sudan and Lesotho.

Central African Republic (CAR) like South Sudan has been engulfed in arms restiveness, political instability, and displacements. This situation has led to food shortages and a lack of access to good healthcare facilities, Many communities in these countries lack access to basic necessities such as clean water, nutritious food, and medical care. Diseases like malaria and diarrhea, contribute to high child mortality rates, further lowering the country’s life expectancy. This combination of limited resources and persistent instability continues to impact the public health outcomes in the region.

October 25, 2024 0 comments
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Exclusives

Breaking: Emiefele associate and former MD of MINT plunges into mental illness: 

by Leading Reporters October 7, 2024
written by Leading Reporters

The former Managing Director of the Nigerian Security Printing and Minting MINT and an associate of the embattled erstwhile Central Bank Governor Abbas Umar Masanawa is currently undergoing treatment for mental illness, a close family member has told on LeadingReporters. The source said his mental illness may have followed his failed political ambition and series of money, property and investment seized by President Bola Tinubu-led government.

The source said that Mr. Masanawa was thoroughly de-cashed by the DSS and other anti-corruption agencies over official embezzlements that characterized his leadership when he held sway in MINT.

Mr. Masanawa is one of the associates of Godwin Emiefele who he picked along from Zenith Bank when he was appointed the Central Bank Governor.  Godwin Emiefele promoted him to the position of the Managing Director of MINT.

Mr. Masanawa resigned to contest Governorship Election in his home state, Katsina.  His political outing hit a bend as he lost the guber ticket to the former MD of Small and Medium Enterprises Development Agency of Nigeria SMEDAN Umar Dikko Radda.

As soon as he failed in his political attempt, Emiefele offered him a job in the Central Bank of Nigeria as his aide after which he was moved to NIRSAL, another affiliate of CBN to head the agency.

The source told LeadingReporters that Masanawa was among those indicted for official corruption that characterized Godwin Emiefele-led CBN and its affiliates.  This led to his detention in the facilities of the DSS.  His interrogation led to the uncovering of large sums of money he had hidden away in different locations. 

“He was de-cashed.  All the money he stole and hid was dug up and seized by the government.  He lost property and investments worth billions of Naira.  His investments in different banks were also seized and recovered by the government.  These could have led to the current mental illness he is suffering.  He was in a fast lane before he hit a bend. A lesson for many public office holders to learn from”.  The source said.

October 7, 2024 0 comments
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