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‘We will take drastic decisions that will shape Nigeria’s Economy for Good’ – Minister for Investment, Trade and Industry; Dr Doris Uzoka-Anite

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Dr Doris Uzoka-Anite

The Honourable Minister of Industry, Trade and Investment Dr Doris Uzoka-Anite has said the Ministry is ready to take long-term measures that will help strengthen the Nation’s economy by synergizing with government and other relevant stakeholders in driving more trade, investment and formation of new industries. 

While speaking after the inaugural Federal Executive Council Meeting FEC held today at the Presidential Villa, chaired by President Bola Ahmed Tinubu; Dr Doris, however, noted that; the Trade and Investment Ministry have received briefing from different heads of parastatals and agencies over the week and has set the ball rolling in a bid to put the country on the path of prosperity by igniting all possible policies that will enhance more trade activities in small scale and large scale. She said, the head of agencies under her supervision have submitted their work plan and policy documents and have started putting their plans into work-in-action that will touch every aspect of the nation’s economy in no time.

While pleading with Nigerians to be more patient with the administration, She averred that; the action and policy plan aims to strengthen trade ties between Nigeria and other countries. It will also be a guide and driving force to the actualisation of a thriving economy that is self-sufficient and sustainable. “I have received briefing from the agencies under my ministry and I have ordered them to get to work by putting their plans into action. Any moment from now, Nigerians will feel the ripple effect of our policies as it would touch every sector of the economy. Farmers, traders, manufacturers, and exporters among others will receive a major boost soon. We are working round the clock to ensure Nigerians do business without hassle. We are also breeding more SMEs and business owners within the teeming youth demography to encourage more startups.”

“To promote trade in Nigeria, we need to set an enabling environment with the right policies protecting local production to enable self self-sufficiency, reduction of importation and promoting exportation which will in turn drive more Forex into the economy. We want to transition from an oil-dependent nation and consuming economy to a producing economy. We will declare a state of emergency anywhere we need to do so to ensure speedy intervention. She added.

Uzoka-Anite also noted that she is working tirelessly to ensure the revitalization of existing industries and also attract more investment and industries locally to create jobs; reducing the unemployment rate drastically. “We need to create more industry and the only way to create that is to give incentives and more support to existing companies facing hardship. In a bid to attract other investments, we need to sustain the existing ones and make sure they don’t fold up and lay off staff adding to the unemployment rate. We will roll out palliatives to business owners, entrepreneurs and other employers of Labour. We will also project Nigeria as an investment hub for intending investors with our participation at the United Nations General Assembly UNGA in New York and the G20 Summit in India.” Dr. Doris disclosed.

The Minister also revealed that all hands are on deck in the ministry and anyone who wants to sabotage her effort in bringing positive results to Nigerians will be left behind and sanctioned accordingly. She stated strongly that there would be no room for lagging under her watch in the ministry. 

Oladapo Sofowora 
Media Adviser to the Honorable Minister 

28 August, 2023

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Oditah is wrong about the EFCC- BY DELE OYEWALE

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Professor Fidelis Oditah’s recent interactive discussions on a wide range of issues on Arise News are quite engaging. As a Senior Advocate of Nigeria, SAN and an international legal mind, his views on national issues cannot be disregarded. Benjamin Disraeli, former Prime Minister of the United Kingdom once said, “with words we govern men”. Thus, Oditah words are important and cannot be dismissed as empty effusions lacking weight or impact.

However, the learned Professor’s submission on what he called the Economic and Financial Crimes Commission’s three fundamental problems are, to say the least, prejudicial, unfounded and misleading. First, Oditah stated that “The EFCC is often being used for settling many scores. Some are political scores, some are social scores. So, you could run away from your girlfriend and the girlfriend goes to the EFCC and the EFCC could ask you questions. What has that got to do with economic crimes? That is blatant abuse of power”

How on earth will this kind of a scenario painted by the learned silk hold water? The simplest argument against this kind of effusion is to challenge Oditah to provide proofs of such banality. We all know that this just an idle talk because the EFCC is a serious-minded law enforcement agency. The only worrisome aspect of such a talk is that it betrays an embarrassing lack of grasp of what the EFCC’s focus is.

This issue of appropriate and proper focusing of the mandate of the EFCC has been a central pivot of the three- pronged agenda of the Executive Chairman of the EFCC, Mr. Ola Olukoyede. In the full glare of the entire world, while addressing members of the National Assembly in October 2023, Olukoyede stated that the focus of every fight against corruption is to stimulate growth in the economy. For more than a year now, the EFCC’s boss has been consistently following this route. The review of the arrest and bail procedures of the EFCC is in line with this. Professor Oditah is probably busy with his works as a King’s Counsel in the United Kingdom and have no time to be abreast of developments in the EFCC. Olukoyede is a lawyer of high pedigree and would not allow what the learned counsel called “ blatant abuse of power”.

The second “ fundamental problem of the EFCC”, according to Oditah is that “The EFCC has abandoned its mandate and reduce itself to a debt-collection agency, notwithstanding the numerous court decisions saying the EFCC must stay within the narrow confines of financial and economic crimes. The EFCC has gone out for debt recovery”. This submission, again, is hollow and vacuous. The EFCC’s Establishment Act does not empower the Commission to collect debt on behalf of anyone. The recovery the EFCC does is taking back proceeds of crime from fraudsters. Asset recovery, all over the world, is a fundamental law enforcement and anti-corruption initiative. As a matter of fact, it is the ground norm of every anti- corruption fight. To this end, Olukoyede in just one year, recovered N248,750,049,365.52 (Two Hundred and Forty-Eight Billion, Seven Hundred and Fifty Million, Forty-Nine Thousand, Three Hundred and Sixty-Five Naira, Fifty-Two Kobo).

In foreign currencies, recoveries of the Commission in the one year of Olukoyede’s leadership are: $105,423,190.39 (One Hundred and Five Million, Four Hundred and Twenty-Three Thousand, One Hundred and Ninety Dollars, Thirty-Nine Cents); £ 53,133.64 (Fifty-Three Thousand, One Hundred and Thirty-Three Pounds, Sixty-Four Pence; €172,547.10 (One Hundred and Seventy-Two Thousand, Five Hundred and Forty-Seven Euros, Ten Cents) and many others.

Going by the quantum of these recoveries, not to talk of real estate recovered all over the country, including shares acquired with proceeds of crime in blue- chip companies, it is simply preposterous to reduce and ridicule asset recoveries to debt recovery. Professor Oditah owes the EFCC and the entire nation unconditional apology in this regard. Just two days ago, a Federal High Court sitting in Lagos granted final forfeitures of over $2million and seven princely properties in choice areas of Lagos to the Federal Government. The assets are proceeds of crime traced to a former governor of Central Bank of Nigeria, CBN. Do such recoveries fall into the category of debt recovery insinuation of Oditah? President Bola Ahmed Tinubu recently directed that N100billion be channeled to the funding of the Nigerian Education Loan Fund, NELFUND and the Nigerian Consumer Credit Corporation, CreditCorp, respectively from the monetary recoveries of the EFCC. Is the Professor aware of all these? It is evident that bringing down the issue of asset recovery to the ridiculous corridor of debt recovery is deliberate caricature of an important anti-corruption framework of the government. This is an initiative which local, regional and international agencies are commending Olukoyede and the EFCC about. It is to be noted also that the Director of FBI and the DG of National Crime Agency in the UK where he resides have paid cortesty visits to Olukoyede commending him on the feat he has attained in the fight against corruption and financial crimes and to seek more collaboration with the agency in their shared mandate of fighting corruption and financial crimes

The third issue Odikah raised against the EFCC, like the earlier issues, again, lacks any firm ground of substance. Hear him:

“The EFCC itself, a number of officers are more corrupt than those they are chasing. So, you remember what happened to Mr Bawa, Mr Matawalle, when Mr Matawalle finished his tenure as governor of Zamfara state and he said he was invited by Mr Bawa to bring $2million so as not to be investigated. The EFCC itself has become a corrupt organisation which needs to be completely disbanded and a new body set up . The EFCC has the resources. It does not have the ethics. The EFCC majors on minor issues, catching students and showing them as cyber criminals and so it says, it procured 1000 convictions and when you look at them they are people who have defrauded people of 20 or 22 dollars. That’s not the mandate. That’s the periphery. The central mandate is to ensure that the resources which are put in the hands of states are used by the states and that’s where the EFCC.”

Going through all these trumped-up claims, it is obvious that Oditah has elected to totally launch unwarranted verbal war against the Commission and its officers. How many officers of the EFCC have been tainted with corruption allegations? Is it acceptable to use the “ sins” of very few elements in a community to paint and taint it as a community of sinners? It should be noted that there is no law enforcement agency in the world that is not vulnerable to corrupt officers. What is important is what the agency is doing to such elements. Olukoyede is known for his no-nonsense approach to ethical issues in the Commission. As a matter of fact, upon assumption of duties, he directed every officer of the Commission to declare their assets and ensure that verification of assets so declared is established. He went ahead to name the Department of Internal Affairs as Department of Ethics and Integrity. Beyond all these, some erring officers of the Commission have either been shown the way out or facing trial. In recent times, the Commission has had cause to dismiss some officers on allegations of corruption and gross misconduct. The EFCC is self- cleansing and the Commission deserves commendation for this.

It is worrisome that a Professor of the reputation and exposure of Oditah could dismiss the Commission’s onslaught against internet fraudsters as an unserious engagement. The damages this genre of fraudsters are causing the nation is untold. A crime that has a projection of $10.6trillion loss to the whole world in 2025 and Nigeria lost more than $500million in 2022 alone, is what Oditah derisively lampooned the EFCC about. We have cause to be worried that those who ought to know better are either playing the Ostrich or advertising their ignorance of a major malaise confronting the nation. Owing to the threat of cybercrimes to the development of our country, the EFCC has held two national dialogues on it. The recent one held few days ago at the Presidential Villa. The Professor should know that the EFCC mandate is to investigate all financial and economic crimes and no financial crime is small or big to be investigated in order to save the soul of the nation. It should be recalled that in recent times, the EFCC had had cause to prosecute and file charges against four ex- governors and some former ministers who were found culpable by EFCC’s investigation for looting state treasuries. This is just to confirm that the Commission is not scared of taking up large-scale fraud’s investigations and prosecution which we shall continue to do

There is no denying the fact that the respected professor goofed in all his comments about the EFCC and his views are not reflective of the realities on ground concerning the anti-corruption fight of the government.

On a final note, we enjoin professor Oditah to get himself familiar with the works of the Commission and lend his expertise and rich experience to the nation for a more robust and fully-integrated war against corruption. We also want to advise the fourth estate of the realm not to allow their platforms to be used to cast unfounded aspersions on the good works of the EFCC. The Commission is not averse to meaningful contributions and advise from well-meaning and reform-minded Nigerians to strengthen our processes and procedures as we continue this crusade,

Oyewale is head, media & publicity of the EFCC.


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Nigeria @64: Oando Boss, Wale Tinubu, Urges Nigerians to work together 

 

As Nigeria celebrates her 64th Independence anniversary, the Group Chief Executive of Oando group, Mr. Wale Tinubu, has enjoined the citizens to work together for the growth of the country.

 

In a statement posted on his social media handles, Mr. Tinubu wrote:

 

‘’Stitch by Stitch, We Weave Our Nation’s Tapestry.

 

As we celebrate Nigeria’s 64th Independence Day, we reflect on the journey that has brought us this far. Like a tapestry woven with care and precision, our nation is a beautiful blend of diverse cultures, resilient spirits, and bold aspirations.

 

Today, we honour the past, celebrate the present, and look forward to a future filled with promise. Let us continue to work together, stitch by stitch, building a nation that is vibrant, inclusive, and unafraid to dream big.

 

Happy Independence Day, Nigeria!

 

 

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Independence Day: Daniel charges Nigerians to remain hopeful

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Otunba Gbenga Daniel, Senator representing Ogun East Senatorial District, has congratulated Nigerians on the country’s 64th Independence Anniversary.

He commended the resilience and unity of the people amid economic and security challenges and urged patience as the federal government works to address these issues.

Expressing confidence in President Bola Ahmed Tinubu’s leadership, he emphasized that Nigeria is on the path to becoming a better nation.

He also reaffirmed his commitment to delivering quality representation for Ogun East and pledged to keep working for the region’s development.

Senator Daniel called on Nigerians to remain hopeful, support their leaders, and continue to pray for peace and progress in the nation.


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