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Revealed: How Ukachukwu Allegedly Absconded With Over $28M Local Government Funds

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This report was gathered on a journalistic inquest into alleged sole diversion of over of $28 million funds meant for construction of boreholes within 774 local government areas in Nigeria, by Mr. Nicholas Ukachukwu, Managing Director of RIOK Nigeria Limited.

Upon investigation, it was revealed that Ukachukwu received payments without implementing the awarded projects. Recall, the Association of Local Government of Nigeria, ALGON via an award letter dated December 17, 2013, awarded a contract to RIOK Nigeria Limited for the provision of boreholes and other water reticulating apparatus in all the 774 Local Governments and Area Councils in Nigeria. But upon further investigation, none of these said contracts were executed. It is well on note that the above contract was given to the said company/contractor on the basis that it had the capacity to construct and deliver the contract to meet the needs and specifications of the association; instead of delivering on the agreement entrusted, the said company plotted to receiving payments through promissory notes.

It is no news that sometime in September, 2021, ALGON had filed a suit at the federal high court, Abuja, challenging the federal government’s approval of the sum of $418m, to be paid to consultants and contractors for purported consultancy over the Paris Club refund.

The suit, dated 1st September 2021 and marked M/5474/2021, has the Federal Government, Attorney General of the Federation (AGF) and the Minister of Justice, Debt Management Office (DMO), Accountant General of the Federation (AGF), the Economic and Financial Crimes Commission (EFCC) and the Chief Registrar of the High Court as the 1st to 6th defendants.

The Interim Management Committee in Writ of Summon No CV/2185/2021, was asking the court to restrain the defendants from approving promissory notes of payments in the sum of US$142,028,941.95, US$ 1,219,440.45, US$ 215, 195.36, to RIOK Nigeria Ltd, Prince Nwafor Orizu, Barr. Olaitan Bello, respectively.

They had alleged that President Muhammadu Buhari, had approved the payment of the controversial amounts in Paris Club refund-related judgment debts to consultants, without considering the call for a forensic audit into the claims of the creditors, and the Federal Ministry of Finance following such order had also directed the Debt Management Office, DMO, to commence issuance of promissory notes to the creditors, as allegedly approved by the order of the then president.

The Minister of Finance on the orders of the President, was said to have directed the Director-General, Debt Management Office, DMO, to issue Promissory Notes 12th August, 2021 in favour of the said consultants, according to the applicant.

The amounts allegedly claimed by the various consultants are as follow: Ned Nwoko –US$68,658,193.83; Ted Iseghoghi Edwards -$159 million; Riok Nigeria Limited $142,028,941.95, Prince Orji Nwafor Orizu US$1,219,440.45, and Olaitan Bello – US$215,195.36 and Panic Alert System Limited and George Uboh – $47,831,920.

In the suit, IMC-ALGON asked the court to grant an order to dissuade the Hon. Minister of Finance, DMO, AGF, EFCC and the Chief Registrar of the High Court from issuing, handing over or releasing any promissory note or banking instrument of transfer to the consultants and contractors.

The applicant questioned the basis for the approval of payments, demanding that the contractors should provide proofs of the allegedly executed projects, contracts in any of the 774 local government areas to back up their claims to such enormous amount of monies.

May we reiterate that the Interim Management Committee was on the right path with its suit because, the company nominated its Directors, Prince Nicholas Ukachukwu and Nicholas Ukachukwu Jnr in 2021, to accept the offer of 8,300,000,000 (Eight Billion, Three Hundred Million Naira Only) out of $14,202,894.00 issued promissory notes. The said amount was made into RIOK Nigeria Limited Zenith Bank Account with Account Number 1222837384. Also in June 2022, Prince Nicholas Ukachukwu received another batch N7,911,185,250 (Seven Billion, Nine Hundred and Eleven Million, One Hundred and Eighty-Five Thousand, Two Hundred and Fifty Naira Only) out of the second batch via the same account number from Premium Capital and Stockbrokers Ltd the company that discounted the FNG promissory notes.

RIOK NIG LTD, did not carry out the ALGON water supply scheme it was contracted for, infact Prince Nicholas Ukachukwu, got the promissory notes through the help of the then Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, who claimed to have carried out a “due diligence” on the debts, but was unable to tell Nigerians which projects were carried out by Riok Nigeria Ltd, to justify its claim along with two others for over $143.4 million (about N54.6 billion).

While justifying Riok Nigeria Ltd’s claim in 2018, Mr Malami went as far as giving statistical data on the stages of the “projects” executed for the various local governments in the country by the company, but failed to provide details of what the projects were and where they were located to enable well-meaning Nigerians verify them.

Apart from failing to name the projects handled by Riok Nig Ltd, Mr Malami, also deliberately concealed the identity of the agency which he claimed provided him the details of the stages of the completion of the controversial projects. He claimed in his statement that asides from asking the Economic Financial Crimes Commission, to probe the monetary awards to Riok, he also said that, in his “desire to cover the field and have thorough investigation of the issue” he directed other agencies to also carry out a probe.

But in trying to convince the public that he truly carried out “due diligence” over the matter, he concealed the name of the agency that reported to him that Riok Nigeria Limited executed the contracts awarded to it by ALGON to be entitled to being paid. He merely stated that “an agency wrote to the HAGF” and went ahead to copiously quote the conclusion in the “report” of the unnamed agency.

We wonder why during that time, Malami was silent on the September 2018 reply of ALGON president to his enquiry on Riok Nigeria Ltd’s projects, and chose to believe the report of an unnamed agency. We have it under good report that the then ALGON president, Gambo Kagara, had written to him regarding Riok Nigeria Ltd, that there was no evidence the company executed the contracts it was awarded by ALGON to be entitled to any monetary claim. Mr Kagara also stated that there was no communication from RIOK Nig. Ltd. informing the association of the job execution or completion. In that letter he further reiterated that no job inspection was carried out by ALGON and RIOK had not formally handed over any site of job completion; neither has any certification of job completion been issued to RIOK; consequently, the association categorically denied execution of the work by RIOK thereby invalidating any claims for payment.

Please kindly note that Mr Kagara’s successor Kolade Alabi, also wrote another letter dated October 8, 2019, to Mr Malami, restating the association’s position as contained in Mr Kagara’s September 10, 2018 correspondence.

The then AGF pushed for RIOK, others to be paid because he had his own interest and perhaps a percentage of the said amount. Viral report, has it that he said that an unnamed agency conducted a verification exercise of “the level of completion of the contract awarded to RIOK NIG LTD and its physical existence” throughout the 774 Local Government Areas in Nigeria.

Malami disclosed that the agency “confirmed the existence of the projects” but stated that 107 of the projects were “Non Identified”. He also said that only 182 of them were “Completed”, 91 were “Functional”, 33 were “Abandoned”, while 205 were “Ongoing”, he also added, “Those geographically surveyed” were 178.

Okay without being biased, if truly Mr Malami, was acting in the public interest as he claimed, on what basis did he convince himself to recommend payment for a company that, by his own admission only executed 182 of the total 774 projects translating into mere 23.5 per cent execution of the contracts.

Prince Nicholas Ukachukwu has constantly been fingered in controversies especially ones bothering on financial fraud, infact he isn’t new to it, the public needs to be wary of a man that has chosen to abscond with over 28 million dollars’ funds allocated for the improvement of the wellbeing of common citizens at grassroots level. He gathers these monies for his selfish benefit, from flying business classes to abroad, buying properties or his latest addiction marrying a beauty queen.

On this background, with a journalistic mandate, we are raising our voices for the selfless Nigerians who RIOK Nig Ltd, has through selfish interest deprived access to good water and sustainable development. In same vein we are soliciting and urging the Federal Government under the administration of President Bola Ahmed Tinubu and the anti-graft agencies to swing into investigations on the awarded contracts and immediate recovery of all funds collected by Prince Nicholas Ukachukwu, Director RIOK NIG LTD.

We also encourage mainstream media outfits to lend their independent voices too, because if we don’t raise our voices, nothing will happen to the non-compliant, self-imposed contractors who will continue syphoning amounts on jobs they didn’t execute, and this will send a wrong signal to the Nigerian youth, and also encourage a culture of impunity to the detriment of national development.

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Surveyor General Speaks On Climate Change, Calls for Urgent Funding to Mitigate Devastating Impacts

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The Surveyor General of the Federation, Mr. Adebomeyin Abdulganiyu, has called for increased funding to tackle the pressing challenges posed by climate change in Nigeria, emphasizing the need for urgent action to protect vulnerable communities.

Speaking at the launch and induction of Ambassadors of SDGs and Ecosystem Preservation Initiative, a Climate Change Education and Awareness held in Abuja on Thursday, Abdulganiyu stressed that climate change is a harsh reality affecting millions of Nigerians daily, from coastal erosion in Lagos to desertification in the North.

“The impacts of climate change are real, and it’s our responsibility to provide communities with the data they need to adapt and thrive,” he said.

Abdulganiyu highlighted the crucial role of surveying, understanding and mitigating climate change impacts, citing the importance of accurate land measurements and geospatial data for effective urban planning, disaster management and environmental conservation.

“We need to know where we stand to make informed decisions about where we’re going, there is a need for government prioritization of surveying initiatives.” Abdulganiyu urged.

He further advocated for a dedicated Climate Resilience Fund to allocate resources for research and community-based projects aimed at mitigating climate impacts.

“This fund should empower local communities to take ownership of their futures,” he emphasized.

Also speaking, Comrade Dominic Ogakwu, founder of the Initiative and President of a foremost civil right group, Civil Society Groups for Good Governance, CSGGG, reiterated the importance of educating the public on climate change mitigation, global best practices, and associated risks.

Ogakwu noted that improved education and awareness could prevent disasters like the recent floods in Borno state.

The initiative plans to launch a seven-month campaign covering all 774 local government areas in Nigeria, employing a comprehensive education strategy.

Reports has it that Nigeria ranks 160th out of 180 countries vulnerable to climate change, with climate change threatening key sectors like agriculture, health, and hydropower.

Meanwhile the Surveyor General’s call for urgent funding and action, comes as Nigeria faces a critical moment in its climate change response and the need to protect the Nigerian people and planet.

 

 

 

 

 

 

 

 

 

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Revolutionizing Nigeria’s Seed Sector: NASC Unveils Groundbreaking Portal

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  • Begins training for farmers, seed companies, others

In a bold move to transform Nigeria’s agricultural landscape, the National Agricultural Seeds Council (NASC), has disclosed plans to launch a cutting-edge Seed Information Management Portal. This innovative digital solution promises to revolutionize the seed sector, enhancing efficiency, transparency, and productivity for farmers, seed companies, and regulatory bodies.

The development came to light at a recent capacity-building workshop held in Abuja, convened by the council to train key stakeholders ahead of the launch. The workshop tagged “Training on the Operationalization and Management of the NASC Seed Information Management Portal (NSIMP)”, brought together about 70 participants, comprising seed industry professionals, companies, seed council staffs, and farmers from different states and zones, to be trained on how to explore the portal’s vast potential.

Streamlining Seed Sector Operations, Dr. Ishiak Khalid, NASC’s Director General, represented by Towolawi Oluwole, Director of Seed Information, Data Management, and Capacity Building,  emphasized the portal’s critical role in managing the council’s information system. “The portal enables us to collate, and coordinate data from partners, agencies, seed companies, and farmers, providing valuable insights for more informed and harmonized decision-making,” he explained.

The portal’s integrated platform harmonizes disparate data sources, including seed trackers, codex, and other systems. This centralized approach facilitates real-time feedback from stakeholders, empowering the Seed Council to track industry trends, identify challenges, and respond effectively, according to Oluwole.

Also, Dr. Folarin Sunday Okelola, Ag Registrar of Plant Variety Protection (PVP) and Project Manager for the Agra grant, underscored the workshop’s significance.

He said; “Our goal is to build capacity for planning and coordinating the seed system, ensuring we meet Nigeria’s seed demand and harmonizing the whole process.”

“To effectively plan and coordinate our seed sector activities, we require accurate and timely data. This necessitates the integration of technology and electronic systems to enhance our traditional information gathering methods.

“Today, we proudly putting out our Seed Information Management Portal, a comprehensive platform that consolidates our existing tools, including the Seed Tracker and Seed Codex, into a single, user-friendly management information system.

“This innovative portal, accessible via web or Android, enables us to reach all stakeholders, regardless of category, and provides a streamlined approach to seed sector management.” He added.

The NASC Seed Portal is designed to benefit all stakeholders ranging from farmers, granting them an access to quality seeds, improved crop yields, and enhanced livelihoods, seed companies, ensuring efficient production, distribution, and sales tracking, regulatory bodies through an enhanced oversight, real-time monitoring, and informed decision-making.

By integrating comprehensive data management, analytics, and support tools, the portal aligns with the Critical Components of a Functional Seed System, as defined by CESSA. This ensures quality, accessibility, and sustainability in agricultural sector.

Please note that CESSA’s Critical Components of a Functional Seed System are quality seeds, seed availability, quality control, information management, policy & regulation, research & development, production & distribution, marketing & Sales.

Perhaps this will herald a new era for Nigeria’s Agriculture. NASC as a council, embracing digital innovation, through this groundbreaking portal will boost agricultural productivity, enhance food security, and support economic growth.

As the management training concludes Friday, participants are equipped to leverage the portal’s potential, ensuring a brighter future for Nigeria’s farmers, seed companies, and agricultural sector.

“This portal is a game-changer,” Dr. Okelola further opined. He reiterated that the council is committed to revolutionizing Nigeria’s seed sector, and the recent development is just the beginning.

Optimism high up, that with NASC’s Seed Information Management Portal, Nigeria’s agricultural landscape is set to flourish, harnessing technology to drive growth, productivity, and prosperity.

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Cardoso, Deputies Under Scrutiny Over Alleged ‘Generous’ Approvals

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The current leadership of the Central Bank of Nigeria (CBN) seems to be embroiled in a scandal that has sent shockwaves through financial and political circles.

Multiple credible sources within the bank have raised severe allegations against the governor, Olayemi Michael Cardoso, and his four deputy governors, accusing them of gross misuse of office to enrich themselves at the institution’s and the nation’s expense.

These allegations fly in the face of Governor Cardoso’s stated mission to reform the CBN and restore its integrity following the controversial tenure of his predecessor, Godwin Emefiele.

Almost a year into his leadership, the promise of transparency and accountability appears absent, leaving many questioning whether the reforms were ever genuine.

Among the most egregious allegations is the reported upgrade of annual housing allowances for the governor and his deputies to nearly N1 billion each. This staggering sum is even more scandalous considering that all five officials already reside in opulent official residences in the upscale Maitama district of Abuja. Such an absurd allocation, sources say, is indefensible, especially when viewed against the backdrop of a struggling Nigerian economy and widespread poverty.

“What justification can there be for this level of indulgence?” asked a senior CBN official who requested anonymity for fear of incurring the wrath of the governor. “The CBN’s leadership should exemplify modesty, not opulence.”

In another shocking revelation, it has been alleged that Cardoso and his deputies upgraded their international travel privileges from business class to first class. This comes at a time when the Nigerian economy is on life support, with the naira continuing its free fall against major global currencies and inflation eroding the purchasing power of ordinary Nigerians.

It is reported that a first-class ticket to New York from Abuja, which costs upwards of $15,000, is now standard for the CBN’s top brass.

“How can they justify such luxury when the average Nigerian is struggling to afford necessities?” another source within the bank lamented.

The allegations do not stop there. It is reported that the governor and his deputies have also upgraded their foreign travel allowances to more than $7,000 per night. These officials could pocket over $50,000 for a week-long trip, excluding additional perks such as entertainment and extra baggage allowances.

“This is a brazen display of greed,” a source close to the matter stated. “How can they justify such largesse when the Nigerian minimum wage is a paltry 70,000 naira a month?”

The CBN governor is also accused of hiring consultants whom he pays over N30 million per month, an amount that dwarfs the combined monthly salaries of all CBN directors. These consultants, who reportedly lack experience in monetary policy institutions like the CBN or the International Monetary Fund (IMF), are ostensibly performing the same duties as the bank’s directors.

For instance, official papers showed that Mr Cardoso hired one Nkiru Belonwu as his media consultant for a monthly pay of N30 million. Worse is that Belonwu has been illegally promoted to take the seat of the director of corporate communications as an observer in the bank’s exalted Monetary Policy Committee (MPC) meetings against the usual practice.

Belonwu, it was said, does not have a media contact base and has never related with the media since she resumed office with Mr Cardoso in 2023.

“This is nothing short of a financial scandal,” a CBN insider said. “Why is the CBN paying such astronomical fees for expertise that has yet to yield tangible results in improving the economy?”

There are also allegations of non-competitive and secretive hiring practices under Governor Cardoso’s leadership. Hundreds of CBN staff have reportedly been sacked without due process under the guise of organisational restructuring, only to be replaced by new hires through covert means.

In one particularly troubling case, a retired police Assistant Inspector General (AIG) was reportedly appointed as a department director, contravening public service rules.

Added to the growing list of allegations, it is claimed that the governor and his deputies have been channelling their hefty allowances through the director of procurement and supply services department rather than the human resources department. This unusual arrangement has raised concerns about potential efforts to obscure these payments from auditors and to conceal the true extent of their earnings.

Perhaps the most damning of the allegations is that Governor Cardoso and his deputies reportedly increased their allowances and benefits without the approval of the CBN board, which President Bola Tinubu had not constituted at the time these upgrades were enforced.

“This is a clear abuse of power,” said a CBN official familiar with the matter. “Without board approval, such actions are unethical and illegal.”

In the light of these serious allegations, many within the CBN have called for Governor Cardoso and his deputies to either affirm or deny the claims. The atmosphere at the bank is reportedly tense, with staff morale at an all-time low following the wave of sackings and what some describe as a “toxic” management style.

A very senior staff member at the bank’s headquarters told this reporter that there is currently palpable apprehension over a rumoured plan by the management to engage in another shakeup that would result in massive sacking or redeployment of staff (especially from head office) to the various branches in the states.

Governor Cardoso, who has often touted himself as an enforcer of due process, now finds himself at the centre of a storm that could have far-reaching implications for the CBN and the Nigerian economy, as the public awaits his response.

Efforts by this newspaper to get the reaction of CBN spokeswoman Sidi Ali were abortive as she refused to respond to questions sent to her telephone line. Her number was also unreachable for calls.

Original Source; Leadership.ng

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