Business
Court orders Betta Edu to disclose details of ₦535.8m school feeding expenditure during lockdown
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A Federal High Court, Abuja has ordered Dr Betta Edu, the Minister of Humanitarian Affairs, Disaster Management and Social Development, to release details of how the sum of ₦535.8 million was expended on feeding of school children during COVID-19 lockdown.
Justice Nkeonye Maha, in a judgment, directed the minister and the ministry to furnish a civil society group with parts of the information sought in line with Section 25(1) of the Freedom of Information (FOI) Act, 2011.
Justice Maha held that the minister’s failure to respond to the group’s letter dated August 6, 2020 or even give reason for the refusal to respond to the request as prescribed under the FOI Act contravened the provisions of Section 4(a) and (b) of the act.
“In view of all the matters before me and flowing from the objectives of the FOI Act 2011, the court hereby orders the 1st and 2nd defendants, in line with Section 25(1) of the FOI Act, to furnish the plaintiff with the information sought in Reliefs 3(a), (b), (c), (d),” she declared.
The judge also ordered the minister to comply with the orders of the court within 21 days upon receipt of the orders. She, however, refused to grant “Reliefs 3(e), (f) and (g) of the plaintiff.”
The News Agency of Nigeria (NAN) reports that the Incorporated Trustees of Kingdom Human Rights Foundation International had filed the suit marked: FHC/ABJ/CS/1162/2020 following alleged refusal of the then Minister, Hajia Sadiya Umar-Farouq, and her ministry to respond to the information sought.
Umar-Farouq was the minister under the Muhammadu Buhari-led government. The group alleged that independent investigation and information available to it “revealed that the so-called modified and implemented school feeding programme during lockdown against coronavirus pandemic was a scam, cover-up and well-articulated fiction to embezzle public funds.”
It said that the development was contrary to the statement made by Umar-Farouq during the taskforce briefing on COVID-19 on August 3, 2020. Therefore, in the originating summons, the group sued the minister, the ministry and the Presidential Taskforce on COVID-19 as 1st, 2nd and 3rd defendants respectively.
Also joined in the suit were the Secretary to the Government of the Federation (SGF) and Independent Corrupt Practice and other related offences Commission (ICPC) as 4th and 5th defendants.
The group sought an order of mandamus compelling the 1st defendant (minister) to immediately release and make available to it all the information and documents requested in its application letter to with:
“a. Details, accompanied with documentary evidence of how the N523,273,800 million was spent on school feeding programme during the COVID-19 LOCKDOWN in three states following presidential directive as disclosed to Nigerians by the 1st defendant during the Presidential Taskforce on Covid-19 briefing of Monday, 3 August, 2020 in Abuja.
“b. Details with the aid of documentary evidence disclosing how the said ₦523,273,800 million was dispatched/distributed to the 124,589 households whom the 1st defendant claimed received take-home rations valued at ₦4,200. 00 to wit:”In the FCT, 29,609 households were impacted; 37,589 households in Lagos and 60,391 in Ogun, making a total of 124,589 households impacted between May 14, and July 6. ‘if 124,589 households received take-home rations valued at N4,200, the amount will be N523,273,800.’
“¢. Facts with the aid of documentary evidence, disclosing whether the 124,589 households whom the 1st defendant claimed received take-home rations valued at ₦4,200 received it in cash or if they received food items.
“d. If the 124,589 households whom the 1st defendant claimed received take-home rations valued at ₦4,200 received it by cash, facts with the aid of documentary evidence, including state by state photographs of those distributing and those receiving, disclosing whether they were given cash of ₦4,200 or food items valued ₦4,200.
“e. Should the 1st defendant claim that the 124,589 households received ₦4,200 by bank transfer, facts disclosing that the ₦4,200 was paid into their various bank accounts, including disclosing the bank account numbers of the 124,589 households whom the 1st defendant claimed received take-home rations valued at 4,200 each.
“f. Phone numbers of the 124,589 households whom the 1st defendant claimed received take-home rations valued at ₦4,200 or the phone numbers of their heads of family.
“g. State by state addresses of the 124,589 households whom the 1st defendant claimed received take-home rations valued at ₦4,200 to enable the plaintiff immediately confirm if they received the items.”
The group said it instituted the suit in the overall public interest and promotion of rule of law, accountability, probity transparency and strengthening constitutional democracy and good governance.
Responding the minister and the ministry, in their counter affidavit, argued that they did not refuse to provide the information sought as the information had been disclosed in their counter affidavit.
They also argued that information sought by the plaintiff which bordered on addresses and phone numbers of beneficiaries were personal information and that such disclosure was exempted under Section 14 of FOI Act. They corrected that the total sum was ₦535, 873, 800 for 127, 789 households and not 523, 273, 800 for 124, 589 as alleged by the group.
They, however, said that they did not disburse cash but food items. Delivering the judgment, Justice Maha struck out the names of 3rd, 4th and 5th defendants’ from the suit, the plaintiff, having failed to disclose a cause of action against them.
The judge, in the decision delivered on October 30 but the certified true copy (CTC) sighted on Wednesday, said the suit succeeded in part. She agreed with the argument of the minister and the ministry that the 127, 789 households had not consented to the disclosure of their personal details as required by law.
She also refused to grant the request for the release of bank account numbers of the beneficiaries, having stated that no cash was disbursed. But Justice Maha held that there was nothing before the court to show how the said food items were disbursed and the defendants had not proved nor shown how the said ₦535, 873, 800 was distributed to the beneficiaries.
“The 1st and 2nd defendants merely stated facts without proof of how the said sum was allegedly spent.
“All these lapses give room for conjecture and speculation, and the court does not act on speculation; rather on material evidence placed before it,” she said, citing Section 167 of the Evidence Act.
She, therefore, granted Reliefs (a), (b), (c), and (d) above but declined to grant Reliefs (e), (f) and (g).
Business
Bank of Industry secures €1.42bn global syndication loan
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The Bank of Industry (BoI) says it secured €1.425 billion from the senior phase of its global loan syndication scheme.
In a statement on Thursday, the BoI said the loan is largest in its history and represents a 42.5 percent oversubscription from international financial markets.
The bank said the facility includes a fully and partially guaranteed tranche by the Africa Finance Corporation (AFC).
“Previously, Bank of Industry had raised EUR 1,000,000,000 via a Term Loan syndicated facility In July 2022, which has been successfully repaid in July 2024,” the statement reads.
“The performance of the syndication is a mark of confidence in the bank and indeed in the Nigerian economy by foreign investors who perceive a bright future for the country.”
The BoI said proceeds of the loan would help to finance a growing demand for its funds across the country.
According to the statement, the bank appointed the AFC and Standard Chartered Bank as the global coordinators for the €1 billion syndicated term loan facility (with an accordion of another €1 billion).
“Africa Finance Corporation, African Export-Import Bank, First Abu Dhabi Bank PJSC, FirstRand Bank Limited (London Branch), acting through its Rand Merchant Bank division, Mashreqbank psc, SMBC Bank International pic, and Standard Chartered Bank were appointed as the initial mandated lead arrangers and bookrunners,” the BoI said.
“Absa Bank Limited (acting through its corporate and investment banking division) and its affiliates and Export-Import Bank of India London Branch have also joined the facility as initial mandated lead arrangers.”
The bank said it is looking forward to a successful conclusion of the ongoing general phase, given the level of interest expressed by local and international banks and investors.
Speaking on the transaction, Olasupo Olusi, managing director and chief executive officer (CEO) of the bank, attributed the achievement to the hard work and dedication of the institution’s management.
“This the largest syndication in the Bank’s history and is testament to the hard work and dedication of the management of Bol to ensuring that much needed low interest and longer tenured funds are available to Nigeria’s growing private sector in line with the vision of his excellency President Bola Ahmed Tinubu,” Olusi said.
“We are grateful for the support received from the CBN and other agencies of government.”
Olusi assured that the bank, under his leadership, would continue to work with global development financial institutions to ensure better loan terms for Nigeria’s private enterprises.
Business
CBN sells FX to BDCs at N1,580/$
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The Central Bank of Nigeria (CBN) has approved the sale of dollars to bureau de change (BDC) operators at N1,580/$.
In a circular signed by W.J Kanya, acting director, trade and exchange department, on Friday, each BDC can get foreign exchange (FX) of $20,000.
“This is to inform the Bureau De Change (BDC) Operators and the general public that we are providing more liquidity into the market,” CBN said.
“To this end, the CBN has approved the sale of US$20,000.00 to each eligible BDC at the rate of N1,580/$.
“This is to meet the demand for invisible transactions.”
According to the apex bank, all BDCs are allowed to sell to eligible end-users at a margin not more than 1 percent above the purchase rate from CBN.
CBN also directed interested eligible BDCs to make the naira payment to the CBN deposit account numbers with them.
“Also, payment confirmation and all necessary documentation for disbursement are to be submitted at the appropriate CBN branches – (Abuja, Awka, Kano and Lagos) for collection of the US$20,000.00,” CBN added.
On July 18, CBN approved the sale of FX to BDC operators at N1,450 per dollar to meet the demand for invisible transactions.
Business
Telegram CEO Pavel Durov addresses accusations and charges in an official Statement
Telegram CEO Pavel Durov has responded to the accusations and charges leveled against him by French authorities for the first time since his arrest last month.
The Russian Billionaire founder of Telegram, a social media app that now boasts 950 million global users, was arrested in France upon touching down at the airport to honour French President Emmanuel Macron’s invitation to dinner.
Durov took to his Telegram channel to drop his official statement on the imbroglio, which has now been stretched for more than a week.
In his statement, Durov addressed Telegram’s challenges in moderating content but also stated that Telegram already has a European Union compliance officer who oversees Telegram’s compliance with EU laws.
He also criticized the approach of holding Tech founders culpable for the actions of its users as misguided. Durov’s statement also addressed the manner he was accosted by French authorities despite having better alternatives. He thanked the crypto community for their continued support.
“ Thanks everyone for your support and love!
Last month I got interviewed by police for 4 days after arriving in Paris. I was told I may be personally responsible for other people’s illegal use of Telegram because the French authorities didn’t receive responses from Telegram.
- Telegram has an official representative in the EU that accepts and replies to EU requests. Its email address has been publicly available for anyone in the EU who googles “Telegram EU address for law enforcement”.
- The French authorities had numerous ways to reach me to request assistance. As a French citizen, I was a frequent guest at the French consulate in Dubai. A while ago, when asked, I personally helped them establish a hotline with Telegram to deal with the threat of terrorism in France.
- If a country is unhappy with an internet service, the established practice is to start legal action against the service itself. Using laws from the pre-smartphone era to charge a CEO with crimes committed by third parties on the platform he manages is a misguided approach. Building technology is hard enough as it is. No innovator will ever build new tools if they know they can be personally held responsible for the potential abuse of those tools. “Durov Stated
Durov lamented the difficulty in finding a balance between Privacy and security and what it takes to strike a much-needed balance.
“Establishing the right balance between privacy and security is not easy. You have to reconcile privacy laws with law enforcement requirements, and local laws with EU laws. You have to take into account technological limitations”. Durov added.
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