News
Data Tariff Hike: ‘we won’t allow Nigerians to be milked’- Buhari
Some hours before the data tariff hike could be implemented the Chairman of the Senate Committee on ICT and Cybercrime, Senator Fatai Buhari was the guest of the South West Group of Online Publishers, SWEGOP, at its maiden Breakfast Media Chat on Wednesday, November 30, 2016 where he answered questions bordering on the matter, cybercrime and the plans of the government to control it…
Members of the group took him on, on a number of issues, especially bordering on ICT, cybercrime and why the Senate had to wade into the proposed data tariff hike.
The NCC has issued a directive that data tariff should rise from tomorrow. We know the future of almost every business is online. Is this tariff increase properly timed and what do you think it portends for ICT in Nigeria?
I must be honest with you, on the issue of tariff, the National Assembly has not been consulted about it. I think it is a policy issue for them. However, I absolutely agree with you that if we say we are in recession, the purchasing power of the people has gone down, this is not the time to milk them. I absolutely agree with you on that.
I will call a meeting of my members next week, we will review it. We will not sit down and allow Nigerians to be milked and sucked.
However, we are not in the position to dabble into the policy making of an organization but we are there to what is called check and balance. So when there are policies like that, the moment it goes inimical to the wish of the people and it is going to affect our society; that is when we should come in. We will now ask them, why did you do this? That is with the populace. On the economic part of it, we have already agreed that we have to look inwards to make ICT one of the centres of revenue generation for the system.
All over the world, ICT contributes a certain percentage of the income of most countries. So if we agree that we need to look elsewhere for the source of income to the country, if you look at it from that angle and the government’s position, you will agree but what we are saying is that it is not something that is acceptable. Even if you are going to increase it, it should come gradually so that the effect will be minimal on the poor people.
Nigeria is adjudged as one of the countries with a high population of internet scammers. At what percentage is cybercrime growing in the country and if it is decreasing, by what percentage over the last four years?
It is not decreasing at all. As of the moment, the rate of cybercrime in our country is horrible and that is one of the reasons I accepted your invitation because the moment you guys have been able to form yourself into a group, you will be able to help the government in facing these challenges.
Earlier this year, I was in Korea and I was asking the Chairman of the ICT Committee in their parliament about the rate of attack on their cyber system, he told me zero, one hundred percent attack free. I looked at him and asked what do you mean? What is zero and hundred percent attack free? He said they have what is called gate stop. They don’t allow you to come into their system, talk less of attacking them.
So the attacks are stopped at the gate. When the attack comes, they have the mechanism to stop it. If you are conversant with what is called cybercrime, you will notice a high rate of attacks particularly from China and Russia. If America can be shouting today that her system has been hacked; how much more our own country that has no protection?
Having said that, United Kingdom budgeted £ 22 billion for cyber security, America budgeted $ 43 billion to fight cybercrime. Nigeria budgeted 0 Naira to fight cybercrime and this is something that is endemic in our system. The truth of the matter is that if we want to fight cybercrime, it is something that involves a lot of money. The success of it will help the economy and help foreign partners that are looking forward to doing business with you to give them confidence. We have Galaxy backbone, we have NICOMSAT, we have MINS, that is the National Identity Card Commission, all these ICT centres are what I oversight.
When you go on oversight to these people and you see the equipment they have, you will marvel. Sadly, they don’t have what is called coordination. NICOMSAT alone has a system with galaxy backbone where they can store all the data of this country but everybody is afraid of them because of what is called a second back up. If you don’t have a second back up, I will not bring my system suppose there is a crash, what happens to my system? That is the reason we are struggling that since you already have a very solid one, we will now pass a law that all service provider must go and use NICOMSAT so that will be an income generating firm for the organization and for the country. But if you are unable to use this, we will still be talking of stories and history every day.
At what rate can you say cybercrime is growing in Nigeria?
It is really growing at an astronomical rate. I don’t have an offhand percentage but it is horrible. You said something that I absolutely agree with. We have guys who are talented in this country, who we should have been able to use as geniuses to generate revenue, but unfortunately for us, they use it in the opposite direction.
Sometime last year, we were at the United Nations in New York, when a lady was presenting her paper, to God Almighty, I was angry because when the woman from Eritrea was talking about ICT and the way they’ve been able to use ICT in their country, she said they don’t have oil in their country but they have the capacity to match the people that have oil like Nigeria that don’t know with their talent and the opportunity. Though when the opportunity came for us to give it back to her, we were able to reply her appropriately but the truth of the matter was that when we got back to our hotel, we felt “ah, this woman, she really hit us o”. Though we gave it to her back that look, the total population of your country is less than 10 million, which is less than the state I come from, that is Oyo State; talk less of the population of the whole country. And if Nigeria’s population had been 10 million, America would have been coming here, India would have been coming here, China would have been coming here to learn because we would have been able to manage whatever we have to match our population.
Nigeria is a complex society and that is part of the problems we have. I am sorry, with all due respect, we are too big and everybody is intelligent and thinking about themselves. Whenever I have the opportunity to talk on Nigeria’s issue like this, there is one thing that I always say I will appreciate in my life if it happens. That is the day I will see Nigerians seeing themselves as Nigerians, not as Yoruba men or Igbo men or Hausa men. That will be one of the happiest days in my life. The moment you see that, there is unity and you have come of age.
At the Senate, do you have any bill talking about 9% communication tax?
It is not 9%. I don’t know the figure off hand but there is a bill. It is an existing law. It came into existence immediately they introduced cellular phones in 1999 but I cannot remember the figure. I know there is another 2% that is called tax from the service provider that they are supposed to remit back so that they can use it for the society.
A research has shown that Nigerians spend 18% of their salaries on internet broadband and we are losing billions of Naira to cybercrime. Internet broadband charge has increased and we are talking about this increment or tax. What are you going to do as senators to save Nigerians?
Passing the law is not the issue. The implementation is the main problem we have in this country. We look at the way things are going and we say let’s amend this law and we set it before the table of our committee, but let me give you a shocker about Cybercrime Law, we were at a hearing one day and when we told them of the existence of a Cyber Crime Law, they didn’t even know.
Jonathan signed it into law shortly before he left office. It is 7 years imprisonment. I am using this opportunity to appeal to those of you online. Social media is used as a check and balance of the society genuinely, honestly, not as a tool for destruction.
You don’t use it to fight. That is the way it is done all over the advanced world. There is a law, but people in Nigeria believe that I am of no fixed address; I can destroy you based on that. That is not good.
It is my joy today that you are gathering yourselves. If for instance, I find something online, maybe on Parrot, I can easily write the South West Group of Online Publishers that look at what your member has done. By the time I receive a reply, such a person can be taken up that why did you do this. He can say ‘well, I stand by my story’; you can see that there is a line of communication. The moment I know that he is lying, I have a right as a Nigerian to go to court but the moment every other Tom, Dick and Harry write, it will not give this association integrity. And we need it to help the society, we need it to survive and the moment every Tom, Dick and Harry decides to use social media as a means of destruction, it will not help the country.
We should be able to use this our talent to help the economy, to help our country so that the country can be taken to where we want to be, not where we are presently.
Internet fraud is one of the things Nigerians are quite known for. What has your committee done to curb their activities and are there countries you are talking with to also help in fighting internet fraud particularly among the youth?
We set up a committee about two months ago; it is headed by my deputy, Senator Ogola Foster from Bayelsa. We are having what is called Cybercrime Conference. We have called everybody in the communication sector that will participate. These are some of the things we are going to discuss. You see, in a conference when you allow all the stakeholders to come, by the time you gather experience, by the time you gather every other person and you now take it up as a law, it won’t become strange because everybody is involved.
When they were mentioning countries, they mentioned Bangladesh, India, Nigeria was number 4 country they mentioned on internet fraud. You know when you see negative things about your country, you are a human being, you will feel ashamed.
Now we want to have a relationship with almost everybody to be able to tuen that negative thought into positive things because if you are able to let them know that if you commit a fraud, you will be able to make N 10 and if you are caught you will go for ten years. But if you are able to use this talent genuinely, the way it should be done, you can make N 100. N 100 is more than N 10, you will be able to use that and people will be proud of you.
One of my happiest days since I became a Senator was about three months ago. The President went to America; while there, coincidentally, I was in America that time too, so we were gisting at the lobby of the hotel when a guy came in. Fayemi was talking to the guy, another person that was standing with said ‘that guy is from Nigeria, he is the best auto designer in the whole of America’. The guy is very young, Mohammed Iliya, he is from Sokoto. I even took a picture with him. With all due respect, I am not ridiculing anybody, now imagine the type of talent we will have in Enugu, the type of talent we have in Ibadan, the type of talent we have in Lagos. If that guy was to stay in Nigeria, he would have been an almajiri. This means we have the potential.
Look at our phones too. One day, I was at home with my daughter, watching football. Unfortunately, they were leading my team so my eyes were red. She came and was fiddling with the set, I said what is it? She said ‘Daddy don’t worry, it won’t go off’. She wanted to do something on her laptop and she needed to connect it to my TV. I said ‘no, no, go upstairs’. She said ‘Daddy, don’t worry’. I realized she did all she wanted to do. I didn’t say anything. I just finished watching my ball and when we equalized I was happy so after the match, I asked her, how did you do that thing? She said ‘Chairman ICT’ (general laughter). Before I became the ICT Committee chairman, I must be honest with you, I was always thinking I was a smart guy but with what I have seen on the field within the last two years, I have found out I was a bloody illiterate on that line. Before then, I didn’t know what was called cloud internet, broadband,
I went to South Korea, they don’t have oil but they have the best refinery in the world and when you see the way they juggle with ICT, you will ask yourself, ‘can we reach here?’ Even when I interacted with the ICT department in their senate, the guy was dazzling me but I didn’t want to look like a novice so I was just saying okay, okay because most of the things, I was seeing them for the first time. He took me to where they call the gate stop. They don’t allow the attack to come so the attack will be hitting the wall. That was why he was able to say they are 100% free from attacks.
News
Panic As Governor’s Official Car Got Stolen
Confusion and fear was the order of the day at one of the Government houses in the Southwest some days ago when one of the official vehicles of the Governor, a bullet-proof jeep allegedly disappeared from the garage.
The SUV which is said to be one of the three bullet-proof vehicles being used for the Governor’s official assignment was discovered missing.
The Governor who was out of the country on a short, rest leave was claimed to have been disturbed when he was alerted.
Sources claimed it wasn’t the first time things would get missing at the Governor’s private residence.
‘There had been series of thefts, ranging from missing cash, phones and other expensive items, it’s usually swept under the carpet. Indiscipline is the order of the day here’, a source confirmed this to papermacheonline.
The State Governor, a quiet individual who is spending his second time in office was said to have been disturbed by the occurrence that he had to cut short his leave and return home. One of his closest aides was also kidnapped recently.
Business
Former First Bank Employee Accuses Oba Otudeko, Bisi Onasanya Of Massive Fraud
A former First Bank of Nigeria Limited employee, Adesuwa Ezenwa, has accused billionaire industrialist Oba Otudeko and former Managing Director Bisi Onasanya of massive fraud during Otudeko’s tenure as chairman of FBN Holdings Plc.
In court documents filed at the National Industrial Court of Nigeria, Ezenwa alleges that unsecured loans of approximately N12 billion were granted to a company in which Otudeko has significant investments, disguised as loans to Stallion Group of Companies.
Ezenwa, who was summarily dismissed in October 2016, is seeking redress for her termination and demanding N500 million in damages and N25 million in legal costs. She claims that she was made to bear the consequences of granting unsecured loan facilities worth billions of naira to companies linked to Otudeko and Onasanya, while her superiors who approved the credit were not penalized.
Ezenwa joined First Bank in 2002 and became a relationship manager in the corporate banking division in February 2016. She alleges that her superiors, including Abiodun Olatunji and Cecilia Majekodunmi, who worked closely with Onasanya, were involved in the fraudulent activities.
“As a relationship manager, I worked under the supervision and direction of my branch manager and group head and signed official correspondence only after they had approved and/or signed same. I had no independent authority in relation to the grant or disbursement of loans or other banking facilities,” Mrs Ezenwa said.
According to the claimant, she executed a large number of documents while she was still employed by First Bank, but only after approval by her bosses and on their direction.
She said she was summoned on 25 August 2015 to appear before a credit disciplinary committee reviewing facilities availed to a company known as Supply and Services Limited, a subsidiary of Royal Ceramics Group, one of the major customers of the bank.
The plaintiff said the committee could not determine whether she had a personal interest in any of the loans granted or whether she made any gain related to her duties. She said she was, however, blamed during proceedings for not whistleblowing on some of the deals endorsed by Mr Olatunji and Mrs Majekodunmi.
“The admonition was most unfair and unwarranted as I was in no position to whistleblow on my superiors … The persons to whom these reports would have been made were the very persons who were the perpetrators of the misdeeds,” she said.
A litany of allegations against Mr Otudeko
Mrs Ezenwa disclosed that unsecured loans of roughly N12 billion were availed, on one occasion, to a company in which Mr Otudeko has significant investment even though the facility was masked as loans granted to Stallion Group of Companies, which later spotted the false entry in its statement of account and complained.
In one case in 2012, she further alleged, an unsecured credit estimated at N2 billion was granted to Broadwaters Resources Company Nigeria Limited, which ended up being a conduit pipe used by Mrs Majekodunmi and Mr Onasanya to siphon monies from the bank. The claimant said the loan was never repaid.
“Out of the N12 billion camouflaged as lending to the Stallion Group, N8.21 billion was transferred through various accounts to a final destination account belonging to a company known as V-TECH LTD, which belongs to the chairman of FBN Holdings, Oba Otudeko, while the sum of N4.45 billion out of the same fictitious facility was transferred to Ontario Oil and Gas. The facility remains unpaid to date,” Mrs Ezenwa said in court fillings.
According to her, several similar loans were granted by Mr Olatunji and Mrs Majekodunmi, including to Supplies and Services Limited, which were “subsequently sublet and disbursed in smaller bits to several customers on more profitable terms to both officers.”
Swap Technologies and Telecomms Plc, Orbit Cargo, Netconstruct Nigeria Limited, and High-Performance Distributions Limited were among the companies named as beneficiaries of the loan disbursement.
Mrs Ezenwa disclosed that such loans could not have been granted without the involvement of the board of First Bank, considering that the amounts involved were huge and above the approval limits of the executive directors, the vice president and the managing director of the bank.
According to the complainant, her dismissal by the bank brought her into disrepute, threatening her chances of securing employment in reputable companies in future.
“The action of the defendant (First Bank) has consequently caused the claimant untold mental distress and is all the more damaging as the claimant is in her thirties and has simply been made a scapegoat for the malfeasance of some of the lapses of the management of the bank,” she said.
Among other demands, Mrs Ezenwa is urging the court to declare that there was no basis for the bank to dismiss her.
“She is being made a scapegoat for a lot of questionable transactions within the bank, which she is claiming innocent of,” Seyi Sowemimo, the claimant’s lawyer, told PREMIUM TIMES on Saturday. “So far, the trial has started. We have subpoenaed the EFCC, and we have subpoenaed the central bank to bring the audit reports of the bank,” Seyi Sowemimo, the claimant’s lawyer, told PREMIUM TIMES.
The allegations have sparked a legal battle, with Ezenwa seeking justice for her dismissal and damages for the fraudulent activities she claims to have uncovered.
Business
“AMCON MD In Trouble Over Keystone Bank Acquisition By Father In-law”, Isa Funtua
Why Bank Customers Are Making Panic Withdrawals…
Following the controversy generated by the leading opposition party, the People’s Democratic party, PDP, over the alleged acquisition of Keystone bank and Etisalat by Alhaji Isa Funtua and the CEO of AMCON, Ahmed Kuru, President Muhammadu Buhari has ordered probe into the alleged fraud.
A highly placed source at the headquarters of the Economic and financial crimes Commission, EFCC yesterday told daybreak that the President was thoroughly embarrassed with the allegations linking him to the transactions.
According to the source, a discrete panel will be set up soon comprising of the Chairman of the EFCC, representative of the DSS, ICPC, federal ministry of Justice to look into the allegations.
The source further added that, both Isa Funtua, Ahmed Kuru, the governor of the central bank of Nigeria, CBN, Chief Godwin Emefiele and management Staff of the Keystone Bank and 9Mobile will be quizzed by the operatives of the EFCC for some interactions.
Recently, a mindboggling scandal broke out to public knowledge about how Keystone Bank and 9Mobile were acquired in controversial circumstances by the business interests of one Alhaji Isa Funtua, a close friend of President Muhammadu Buhari, via the instrumentality of Asset Management Corporation of Nigeria (AMCON).
The PDP challenged the federal government to come out clean on what could be a serious dent on its anti-corruption stance, there is indeed no smoke without fire.
The leading opposition party also confirmed fact that the son-in-law of Isa Funtua, Ahmed Kuru, is the current CEO of AMCON.
Before him, the previous CEO, Chike Obi, was a first-class gentleman and technocrat who was strangely removed from office before the expiration of his term and was replaced with Kuru, the son-in-law of Isa Funtua.
Now, let us get into the insider details of how Funtua bought Keystone Bank and 9Mobile in the most bizarre of dealings that circumvent the laws of the land. Keystone Bank was sold by the current CEO of AMCON to his father-in-law, Funtua, without any AMCON Board’s approval and with the active connivance of CBN and NDIC at a grossly undervalued price of 25 Billion Naira. To put things in context, let us recall that Enterprise Bank was sold for over 60 Billion Naira and Mainstreet Bank was sold for over 100 Billion Naira under the former CEO of AMCON.
Before the sale of Keystone Bank to Isa Funtua, all bad debts in the books of the Bank were taken over by AMCON. So, it was a clean Bank with all the Assets and no Liabilities that was sold to the Buyers.
The Executive Management of AMCON was coerced into approving the transaction and those who were willing to submit a much higher bid were disqualified under a most opaque, suspicious process that lacks all transparency. The process was just manipulated in favour of the father-in-law of the AMCON CEO.
The Corrupt Payment for Keystone Bank The most disgusting part of the entire sale of Keystone Bank is how the 25 Billion Naira sales price was paid to AMCON.
The Isa Funtua Team paid 5 Billion Naira to AMCON, and then the balance of 20 Billion Naira was later paid through the most criminal and corrupt approach ever perpetrated by AMCON in favour of the Buyer. What happened was that AMCON moved 20 Billion Naira of their own funds as a fixed deposit at GTBank to Heritage Bank. Heritage Bank then paid the 20 Billion Naira on behalf of the Funtua Group to AMCON. In other words, AMCON used their own funds as a collateral for a loan to the Funtua Group for 20 Billion Naira!
When the Funtua Group took over Keystone Bank, they went borrowing immediately at the Interbank Market for 20 Billion Naira to refund AMCON’s funds. This has left a hole in Keystone Bank’s Balance Sheet and makes the Bank one of the most undercapitalized Banks in the Country as at today. The evidence of this highly compromised acquisition process can be obtained from the current and former staff of AMCON, from NDIC, CBN and from the current staff of Keystone Bank itself.
Another suspicious acquisition scandal surrounding the Funtua Group is about the untidy way 9-Mobile, formerly known as Etisalat, was bought. It is Mr. Adrian Wood of Teleology Holdings, a very sound telecoms professional, who collaborated with the Funtua Group for the acquisition of 9-Mobile.
The problem with their bid was the lack of a qualified Operator to support the bid which was one of the minimum conditions of NCC. Adrian Wood alone was not a substitute for an Operator.
The Nigerian Communications Commission (NCC) gave several conditions that must be met by the Ultimate Buyer of 9-Mobile to ensure the protection of shareholders value, prevent loss of jobs, protect the telecoms industry from slipping into a crisis and ensure transparency and professionalism in the post-acquisition entity.
The conditions listed by NCC that must be met by the Buyer are Strong Telecoms Operating Experience, Strong Financial Capabilities, Strong Technical Knowledge and Strong Administrative Skills.
The first thing that happened once Teleology was announced as the preferred winner was that the Funtua Group edged Adrian Woods out of Management and turned him to an Insignificant Shareholder.
The second development was that the Funtua Group raided Keystone Bank again and forced the Bank to Pay 50 million Dollars as down payment for the acquisition of 9-Mobile.
The third issue was that Teleology Nigeria replaced Teleology Holdings to remove any influence of Adrian Woods from 9-Mobile totally. The fourth step taken the Funtua Group was to borrow 260 Million Dollars from African Exim Bank.
The fifth thing was to coerce NCC to approve the sale at all cost without meeting 90% of the conditions set up ab-initio by the NCC.
The sixth strange action of the Funtua Group was to force the board of NCC to approve the sale through the influence and pressure from the Presidency. And the seventh Funtua infraction was to use the influence of CBN to force the Banks to the table and waive their own conditions of sale of 9-Mobile to the Teleology Nigeria group.
Efforts to reach the acting Head media and publicity of Economic and financial crimes Commission,EFCC, Mr. Tony Orilade to confirmed the latest developments proved abortive as his lines were not connecting.
Source; The Capital
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