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₦570bn Hardship Grant: FG Didn’t Give Any State Money, Makinde Counters Tinubu

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The Governor of Oyo State, Seyi Makinde has denied taking part in the ₦570bn hardship grant claimed to have been given to the state governments by the Federal Government.

President Bola Tinubu while addressing Nigerians in a broadcast during the #EndBadGovernance nationwide protests against hunger and hardship, said the government has disbursed ₦570bn to the 36 states.

Tunubu also said that Nigeria spends ₦2tn monthly to import Premium Motor Spirit, popularly called petrol, and Automotive Gas Oil, otherwise known as diesel.

He disclosed that ₦9.1tn was accumulated as total fiscal revenue to the Federal Government’s coffers during the first half of 2024, marking a significant increase from what was earned by the previous administration.

“Also, more than ₦570bn has been released to the 36 states to expand livelihood support to their citizens, while 600,000 nano-businesses have benefitted from our nano-grants.

An additional 400,000 more nano-businesses are expected to benefit,” the President stated.

“Let me state categorically that this is yet another case of misrepresentation of facts. The said funds were part of the World Bank-assisted NG-CARES project—a Programme for Results intervention.

“The World Bank facilitated an intervention to help States in Nigeria with COVID-19 Recovery.

CARES means COVID-19 Action Recovery Economic Stimulus. It was called Programme for Results because States had to use their money in advance to implement the programme.

After the World Bank verified the amount spent by the State, it reimbursed the States through the platform provided at the Federal level.

The Federal Government did not give any State money; they were simply the conduit through which the reimbursements were made to States for money already spent.

“It is important to note that the World Bank fund is a loan to States, not a grant. So, States will need to repay this loan.

Note also that NG-CARES, which we christened Oyo-CARES in our State, predates the present federal administration.

“So, in direct response to the message, the Federal Government did not give Oyo State any money.

We were reimbursed funds (N5.98 billion in the first instance and N822 million in the second instance) we invested in the three result areas of NG-CARES, which includes inputs distribution to smallholder farmers within our State.

In fact, when the World Bank saw our model for the distribution of inputs preceded by biometric capturing of beneficiary farmers, they adopted it as the NG-CARES model.”

“Let me state categorically that this is yet another case of misrepresentation of facts. The said funds were part of the World Bank-assisted NG-CARES project—a Programme for Results intervention.

“The World Bank facilitated an intervention to help States in Nigeria with COVID-19 Recovery. CARES means COVID-19 Action Recovery Economic Stimulus. It was called Programme for Results because States had to use their money in advance to implement the programme.

After the World Bank verified the amount spent by the State, it reimbursed the States through the platform provided at the Federal level.

The Federal Government did not give any State money; they were simply the conduit through which the reimbursements were made to States for money already spent.

“It is important to note that the World Bank fund is a loan to States, not a grant. So, States will need to repay this loan.

Note also that NG-CARES, which we christened Oyo-CARES in our State, predates the present federal administration.

“So, in direct response to the message, the Federal Government did not give Oyo State any money.

We were reimbursed funds (N5.98 billion in the first instance and N822 million in the second instance) we invested in the three result areas of NG-CARES, which includes inputs distribution to smallholder farmers within our State.

In fact, when the World Bank saw our model for the distribution of inputs preceded by biometric capturing of beneficiary farmers, they adopted it as the NG-CARES model.”

Makinde’s denial comes on the heels of controversies that greeted the nationwide hunger and hardship protests.

The protest reported to have been peaceful in many states, had also turned violent in some northern states, with hoodlums carting away goods and facilities belonging to both the government and individuals.

Some protesters in the north were also seen brandishing the Russian flag, a development which has been widely condemned and described as a treasonable offence.

The Department of State Service (DSS) has since announced the arrest and investigation of sponsors of the violent protests, including the arrest of seven Polish nationals.

The Services also vowed to announce the names of the sponsors behind the violent protests.

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16-Year-Old Osasere Okundaye Becomes Nigeria’s Youngest Chartered Accountant

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In a remarkable feat that has captured national attention, 16-year-old student Osasere Okundaye has emerged as Nigeria’s youngest chartered accountant, shattering the previous record set in 2022.

Okundaye successfully completed the professional examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning widespread acclaim as a shining example of youthful excellence and determination. Her achievement comes at an age when many peers are still navigating secondary education or early university studies.

Minister of Youth Development Ayodele Olawande congratulated the young prodigy, describing her accomplishment as an inspiring milestone. “I heartily congratulate Miss Osasere Okundaye on her outstanding achievement of becoming Nigeria’s youngest Chartered Accountant at just 16 years of age,” the minister said, highlighting her hard work and resilience as a symbol of the potential within Nigerian youth.

Okundaye’s success surpasses the record previously held by Jonathan Adewale (also known as Ojo Jonathan Adewale), who qualified as a chartered accountant at age 17 in 2022. Her qualification has sparked pride across the country and renewed focus on empowering young Nigerians in professional fields.

While full ICAN membership typically requires additional practical experience (usually three years), Okundaye’s completion of the rigorous exams marks a historic breakthrough. Details about her educational background and the journey to this achievement are still emerging, but her story is already motivating aspiring accountants and students nationwide.

This milestone underscores the growing narrative of exceptional young talent driving Nigeria forward in various sectors. Congratulations poured in from across social media and media outlets, celebrating Okundaye as a beacon of hope for the nation’s future.

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JUST IN: Vigilante Groups Rescue Kidnapped NECO Students in Borno State

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Local vigilante groups have successfully rescued several students of the National Examinations Council (NECO) who were abducted in Borno State, security sources confirmed on Monday.

The students were reportedly kidnapped while traveling or residing in the area for examination purposes. Details of the exact number rescued and the circumstances of the abduction remain limited, but eyewitness accounts indicate that vigilante fighters acting on intelligence engaged the kidnappers, leading to the release of the captives without major casualties reported among the students.

A community leader in the affected area praised the swift response of the vigilantes, stating that their deep knowledge of the local terrain played a crucial role in tracking the abductors. “These boys and girls were on their way to pursue their education. We thank God and our local defenders for bringing them back safely,” he said.

Borno State has faced persistent security challenges, including banditry and insurgent activities that have occasionally targeted schools and students. The rescue operation highlights the growing reliance on community-based security networks in complementing efforts by the Nigerian military and police in the region.

Authorities are yet to issue an official statement on the incident, but sources say efforts are ongoing to reunite the rescued students with their families and provide necessary medical and psychological support. Investigations into the kidnapping are also underway to apprehend those responsible.

This latest incident comes amid broader concerns over the safety of students in northern Nigeria during examination periods.

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EFCC Charges Former Port Harcourt, Warri Refinery MDs with Money Laundering

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Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has filed separate money laundering charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC).

The accused are Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery, and Jimoh Olasunkanmi Yisawu, former MD of the Warri Refinery. The charges stem from the alleged diversion and laundering of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries.

According to court documents and investigations by PREMIUM TIMES, the EFCC accused the former officials of abusing their positions by receiving and laundering large sums of money through third parties in connection with controversial turnaround maintenance contracts.

The probe forms part of a broader investigation into alleged fraud involving billions of dollars linked to the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. EFCC sources have indicated that the total amount under scrutiny runs into billions, with earlier recoveries reported at ₦38.66 billion alongside other properties.

The charges include multiple counts of money laundering, with Dikko and Yisawu allegedly involved in diverting public funds meant for critical refinery upgrades. This comes amid ongoing scrutiny of officials from the Nigerian National Petroleum Company Limited (NNPCL) and contractors involved in the projects.

The development is the latest in a series of actions by the EFCC targeting alleged corruption in Nigeria’s oil sector, where massive investments in refinery rehabilitation have yielded limited operational improvements despite significant expenditures.

As of the time of filing, court proceedings for the arraignment of the former MDs were underway. The EFCC has not yet issued an official statement on the matter.

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