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ICPC Probes Completed, Unoccupied Housing Estates in Abuja, Lagos, Port Harcourt

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC), on Monday, revealed that it had commenced investigation into completed but unoccupied housing estates in Abuja, Lagos, and Port Harcourt, suspected to be conduits for money laundering.

ICPC also accused members of the Real Estate Developers Association of Nigeria (REDAN) of failure to pay counterpart funding for loans obtained from the Federal Mortgage Bank of Nigeria (FMBN) to deliver infrastructure for mass housing projects, where members, instead, sold the plots to the highest bidder.

Speaking at the 13th Annual General Meeting (AGM) and Conference of the Association held in Enugu, Chairman of the ICPC, Professor Bolaji Owasanoye, expressed regrets that some members of REDAN were engaged by unscrupulous individuals and politically exposed persons (PEPs) to launder their ill-gotten wealth. Owasanoye said this had led to the labelling and perception of honest and patriotic members of the association as corrupt.

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He disclosed that the commission was currently investigating cases of fully completed but unoccupied estates in Abuja, in order to identify developers serving as conduit for money laundering and illicit financial flows (IFFs).

The ICPC chairman stated that the commission intended to cover other major housing hubs in the country, especially Lagos and Port Harcourt.

A statement by ICPC said while urging REDAN to support the law enforcement agencies in their investigations, Owasanoye advised the association to intensify its compliance monitoring of members in the areas of unwholesome practices, such as low quality housing deliveries and shady financial practices.

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The statement quoted the ICPC chairman as saying, “The commission conducted a system study and review of mass housing delivery in the FCT, where it was discovered that members of REDAN who had been allocated huge plots of land for mass housing development in Nigeria through the FMBN, with particular responsibility to provide infrastructure after which allocations are made to the National Housing Fund (NHF) contributors, failed in the payment of their counterpart funding and in the delivery of infrastructure to the project sites and, rather, resorted to offering and selling the estate plots to the highest bidder, contrary to the government policy.”

He counselled the leadership of REDAN to self-regulate its members as part of measures to prevent being used for money laundering and IFFs.

Owasanoye, who was represented by the commission’s Director of Asset Tracing, Recovery and Management, Mr. Adedayo Kayode, urged the leadership of REDAN to introduce the Know-Your-Customer (KYC) principles to its clients to avoid serving as conduit for money launderers and IFFs offenders.

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He stated, “It is my position that self-regulation is a way out of this quagmire for the association. REDAN should consciously draw up programmers to build capacity of its members on modern trends in construction and also hold its members to the highest level of ethical standards.

“The association should introduce and enforce high ethical standards for its members, especially, to ensure their processes are not used for money laundering. In this regard, the association may introduce KYC principles.”

The ICPC boss stated that the theme of the AGM, “Enhancing the Real Estate Sector through Effective Regulation and Collaborations,” was in line with the commission’s mandate of partnership and collaboration with relevant institutions towards building a mass mobilisation vanguard in the curbing of corruption and IFFs within the system and the country, generally.

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Benue IDPs block highway, demand return to ancestral homes

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Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.

The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.

The protest caused disruption, leaving hundreds of motorists and passengers stranded.

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Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.

“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.

Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.

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Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.

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NNPCL reveals decision not to sell Port Harcourt refinery

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The Nigerian National Petroleum Company Limited, NNPCL has officially decided not to sell the Port Harcourt Refining Company.

NNPCL has, instead said it is committed to conducting an extensive rehabilitation of the facility and ensuring its continued operation.

During a company-wide town hall meeting held at the NNPC Towers in Abuja, Bayo Ojulari, the Group Chief Executive Officer of NNPC Ltd, announced the decision regarding the future of the nation’s most significant state-owned refining asset, putting an end to weeks of speculation.

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A statement by NNPCL reads, “The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant.

“The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery, before full completion of its rehabilitation, was ill-informed and subcommercial.

”Although progress is being made on all three, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery.

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”Thus, selling is highly unlikely as it would lead to further value erosion.”

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Tinubu appoints Olumode Adeyemi as Federal Fire Service boss

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President Bola Tinubu has approved the appointment of Adeyemi Olumode, as the new Federal Fire Service, FFS, Controller-General.

The appointment was announced on Wednesday on behalf of the Federal Government by retired Maj.-Gen Abdulmalik Jubril, Secretary of the Civil, Defence, Correctional, Fire and Immigration Services Board, CDCFIB.

Jubril said the appointment followed the retirement of the current Controller-General, Abdulganiyu Jaji, on August 13.

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Jaji is retiring upon attaining the age of 60 by August 13.

Jibril further disclosed said that Adeyemi Olumode is qualified for the position, having attended and passed all mandatory in-service training, Command courses as well as other courses within and outside the country.

“He brings a wealth of experience to his new role, having transferred his service from the FCT Fire Service to the Federal Fire Service and grown to the rank of DCG in the Human Resource Directorate of the Service Headquarters.

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“He has served in various capacities and is equally a member/fellow of the following professional associations including Association of National Accountants of Nigeria, ANAN, Institute of Corporate Administration of Nigeria, Institute of Public Administration of Nigeria and Chartered Institute of Treasury Management of Nigeria.”

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