Connect with us

Trending news

‘Beneficiaries Of Emefiele’s N1.1 Trillion Loan In Panic As Tinubu’s Deadline Ends Today’



Reports have indicated that the Jim Obazee-led special investigative panel constituted by President Bola Tinubu in July to probe and reset the Central Bank of Nigeria (CBN) has extended its dragnet to companies and establishments owned by top shots at the apex bank including its board members.

According to Daily Sun, some of the companies were used as conduits for anchor borrowers’ loans and foreign exchange rackets;

Consequently, cronies of CBN top shots are in panic mode as investigators and security operatives pick them up one after the other for questioning.

The presidential deadline for the loan recovery elapses today Monday (September 18) and tension is high as no one knows the next line of action of the presidency.

Some genuine farmers who got a slice of the anchor borrowers’ facility but could not repay listed floods and the shutdowns associated with the COVID-19 pandemic as reasons for defaulting.

This is aside from the allegations of funds’ diversion by officials of CBN and other participating stakeholders who politicised an initiative designed to solve Nigerians’ food insufficiency nightmare.

A source told the aforementioned publication “Let us get something clear. This is not a witch-hunt. It’s a call to service to restore the dignity of the apex bank and we are leaving no stones unturned to do a thorough job. There are no sacred cows or sacrificial lambs.

There are issues around anchor borrowers’ facilities. Billions of naira has been disbursed but there are no rice paddies to repay. Where did the money go? What happened?

“There are also issues around foreign exchange round-tripping we are investigating. There is acute dollar scarcity. What really went wrong? Who are those responsible?

“So, as we dig in, if it concerns you, you will be invited. The DSS is also working with the panel. The goal is mutual.”

The anchor borrowers’ loans of over N1.1 trillion were facilitated by the sacked CBN management, however, the investigators believe that little effort was made to recover the loan.

Out of the N1.1 trillion disbursed by the CBN to the beneficiaries of the ABP since its inception, only a little above N546 billion was repaid.

The development irked President Tinubu, who has directed that the outstanding N577 billion be recovered from defaulting farmers and CBN officials and their cronies who allegedly diverted the funds to some other private ventures.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


British Airways Flight Grounded in Lagos Due to Technical Fault



– British Airways flight delayed due to technical fault
– Passengers stranded at Murtala Muhammed Airport in Lagos
– Airline apologizes and re-accommodates passengers on other flights

A British Airways flight scheduled to depart for London from Lagos was delayed due to a technical fault, causing confusion and frustration among passengers.

The flight, which was scheduled to depart at 10:50 pm on Wednesday, June 19, was eventually canceled after 1:00 am, leaving many stranded.

However, most passengers have been re-accommodated on other flights, while the remaining affected passengers have been lodged in a hotel with their meals catered for since Wednesday.

According to a passenger, the airline is working hard to book the remaining customers on a flight as soon as possible.

The Regional Commercial Manager for Nigeria and Ghana, Mrs. Tutu Otuyalo, confirmed the development and apologized for the delay.

“We have been in contact with our customers to apologize for the delay to their flight, caused by a technical issue with the aircraft,” she said. “The safety of our customers is our top priority, and we would never operate a flight unless it is safe to do.”

In addition, Mrs. Otuyalo assured that the majority of customers have been re-accommodated on other flights, and the team is working hard to book the remaining customers on a flight as soon as possible.

Continue Reading


Celeste Arantes, Mother of Brazilian Soccer Icon Pele, Dies at 101



– Celeste Arantes, Pele’s mother, passes away at 101
– Pele’s eldest son, Edinho, pays tribute to his grandmother
– Arantes taught Pele the value of love and peace from a young age

Celeste Arantes, the mother of Brazilian football legend Pele, has passed away at the age of 101, her family announced in a statement on Friday.

Accordingly, Pele’s eldest son, Edinho, took to social media to pay tribute to his grandmother, saying “Rest in peace, grandma” and sharing a heartfelt photo of them together.

Moreover, Arantes gave birth to Pele when she was just 17 years old and went on to have another son, Jair, who passed away in 2020.

In a tribute to his mother on her 100th birthday, Pele wrote on Instagram, “From a young age, she taught me the value of love and peace.”

Additionally, Pele shared three photos of them together at different stages in his life, showcasing their strong bond.



Continue Reading

Latest News

Copyright © 2017 RoamanNews