Business

Corrupt contractors cause of frequent equipment failures, outages and grid collapses – EFCC Boss

Power generation crashes by 903MW, national grid crisis persists

Mr Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has attributed the frequent collapse of national grid to activities of corrupt contractors.

The EFCC boss said this while receiving members of the House of Representatives Committee on Financial Crimes during an oversight visit to the commission’s headquarters in Abuja on Tuesday.

Olukoyede, who expressed concern that financial crimes and corruption undermined the nation’s development, added that dubious practice was a major cause of frequent equipment failures, outages and grid collapses.

According to him, one of the problems of this country in the last 15 years to 20 years is that budget performance is always below 20 per cent.

He said that some of the electricity companies bought substandard goods to run the electricity, and this has been responsible for the frequent collapses of the national grid.

He lamented poor implementation and execution of capital projects in the country, saying that Nigeria can not achieve infrastructural or any form of growth under such conditions.

“Investigations carried out by the EFCC showed that contractors in the power sector, who were awarded projects to supply electrical equipment, often opted for substandard materials.

“As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears,” he said.

He also said that the commission discovered that in the last 20 years, capital project implementation and execution in the country were not up to 20 per cent.

“If we do not do that, how do you want to have infrastructural development? How do you want to grow as a nation?

“Our mandate this year is to work with the National Assembly to see if we can meet up to 50 per cent of our execution of our capital project for the year.

“If we do 50 per cent, we will be fine as a nation. Lack of implementation of this capital budget is one of our major problems in Nigeria,” he said.

The EFCC boss called for collective efforts and partnership with all stakeholders to win the battle against corruption in the country.

He emphasised the need for effective collaboration between the lawmakers and the commission in achieving the commission’s mandate of fighting corruption.

According to him, both the committee members and the EFCC are mandated to tackle the menace of financial crimes and corruption, with the goal of advancing the country.

“The mandate before you, which is also before us, if managed effectively and efficiently, will be remembered by Nigerians in the long term.

“This is one of the major challenges undermining our development in Nigeria. Tackling financial crimes and corruption effectively is a responsibility before you as well as the EFCC.

“It is therefore appropriate for us to work together,” Olukoyede said.

Earlier, the chairman of the committee, Hon. Ginger Onwusibe, lauded the achievement of the agency.

Onwusibe said that the committee was at the commission as part of its oversight functions, aimed at monitoring the performance of ministries, departments, and agencies.

He expressed the committee’s readiness to assist the EFCC through legislation and budget allocations.

He urged the commission to enhance its operational skills, ensure accountability, address challenges, and work closely with other agencies, donors, and development partners.

Business

CBN launches new website

The Central Bank of Nigeria (CBN) has launched its newly redesigned website, www.cbn.gov.ng, scheduled to go live on Dec. 2.

Acting Director, Corporate Communications, CBN, Mrs Hakama Sidi Ali, made this known in a statement on Sunday in Lagos.

We are pleased to announce the launch of our newly redesigned website (www.cbn.gov.ng), which will be operational on Monday, December 2, 2024.

“The redesigned website introduces a variety of new content, which encompasses a broader spectrum of information regarding the bank’s mandate.

“Additionally, the website is responsive to mobile devices, facilitating navigation across various web browsers and devices.

“The bank is grateful for the feedback provided by the public, which served as a valuable guide for our redesign endeavours,” she said.

Sidi Ali said the CBN was committed to developing and enhancing the website to facilitate communication.

“Please follow our different social media channels linked on the website’s home page for more updates,” she said.

(NAN)

Business

No ban on sachet water – Lagos Govt

The Lagos State government has denied reports that it has placed a ban on sachet water.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, made this clarification on Sunday in a statement posted on his official X account.

The commissioner’s comments followed a viral video which showed enforcement officers destroying packs of sachet water in Lagos.

Reacting to this, Wahab clarified that the officers in the viral video were staff of the National Agency for Food and Drug Administration and Control (NAFDAC) who went about their lawful responsibility to rid the society of unregistered and unsafe products in the interest of public safety and health.

“My attention has been drawn to a viral video showing some individuals bursting sachet water packs at factories and on buses.

“I wish to categorically state that these individuals are not enforcement officers from any Lagos State Government agency or the Lagos State Ministry of the Environment and Water Resources.

“Upon investigation, it was confirmed that the individuals in question are enforcement officers from the National Agency for Food and Drug Administration and Control (NAFDAC).

“Their actions are part of an enforcement exercise targeting sachet water that does not comply with NAFDAC regulations and in the interest of public health and safety.

“It is important to emphasise that Lagos State has not banned sachet water and does not have plans to do so. Our focus remains on effective plastic waste management.

“As part of our commitment, we are implementing mandatory Extended Producer Responsibility (EPR) for producers of polythene terephthalate (PET), sachets, and carrier bags of no less than 40 40 microns,” he stated.

Business

NAFDAC notifies Nigerians on fake anti-malaria drug in circulation

The National Agency for Food and Drug Administration and Control (NAFDAC) has notified the general public of the sale of counterfeit combiart (Artemether Lumefantrine 20/120mg) Dispersible Tablet in Nigeria.

The notification is in a public alert marked: No. 043/2024, issued on NAFDAC website, disclosing the date of manufacturing of the drug to be Feb. 2023 and June 2023.

It equally gave the expiring date of the drug as May 2026 and June 2026, as well as Batch No: 7225119 with NAFDAC Reg No: A11-0299.

The agency equally gave the manufacturer name and address as Strides Arcolab Limited, 36/7, Suragajakkanahalli, Indlavadi Cross, Anekal Taluk, Bangalore- 562 106, India.

NAFDAC, in the alert, said that all its zonal directors and state coordinators had been directed to carry out surveillance and mop up the counterfeit products within the zones and states.

It advised importers, distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain and avoid importation, distribution, sale, and usage of the counterfeit product.

It said that all medical products must be obtained from authorised/licenced suppliers and that products’ authenticity and physical condition must be carefully checked.

The alert also advised healthcare professionals and consumers to report any suspicion of the sale of substandard and falsified medicines or medical devices to the nearest NAFDAC office.

It urged Nigerians to call NAFDAC on 0800-162-3322 or report any suspicion event via email: sf.alert@nafdac.gov.ng.

“Healthcare professionals and patients are similarly encouraged to report adverse or side effects related to the use of medicinal products or devices to the nearest NAFDAC office, or through E-reporting platforms available on the NAFDAC website www.nafdac.gov.ng.,” it said

It advised Nigerians to reports any adverse effects via the Med-safety application available for download on android and IOS stores or via e-mail on pharmacovigilance@nafdac.gov.ng.

NAFDAC promised that the notice would be uploaded to the WHO Global Surveillance and Monitoring System (GSMS).

NAN