STRAY BULLET
MULTIPLE LIARS: FARM SAID TO BE WORTH OVER N1 BILLION ACTUALLY GOT N720 MILLION LOAN FROM BUHARI AGAINST BANKING POLICY
Secret Reporters
When General Muhammadu Buhari-led administration came into power, his focus on economic diversification and inclusive growth programs targeted towards the Agricultural revolution has been the golden Egg of his administration.
What many do not know is that these initiatives which are aimed towards developing subsistence farmers to commercial farmers may be nothing short of a sham as reports garnered by our news medium has shown how the majority of the beneficiaries of the various government intervention scheme are allegedly friends and allies of the present administration.
Findings revealed that the Commercial Agriculture Credit Scheme (CACS) loan established by the Central Bank of Nigeria in collaboration with the Federal Ministry of Agriculture and Water Resources in 2009 in which N700 Million was granted to a corporative society known as Nigeria Farmers group corporative Society, owned and coordinated by one Mr. Reston Tedheke which according to reports was just a business which started with a loan of N1.5million in 2017 irrespective of the order by CACS specifically stating that the loan was not for startups with less than 2 business cycles.
In a clear case of favouritism, the Ex-Niger Delta Milita’s Agricultural pet project came to limelight after his audio defence on President Buhari in 2017 went viral. This was made known through a tweet made by him, stating
“In 2017, I released the audio in defence of @Mbuhari and when @Laurestar heard the audio…. So she invited me to Abuja for meetings on the way forward…That meeting was the Catalyst that started @NGFarmersGroup’’.
With the president’s backing and full support, the farm business which according to Prof. Yemi Osibanjo was to worth over N1billion over two years applied for the N1.5 billion CAC loan with the sum of N720, 000Million approved for them.
Also, SecretReporters search through the Corporate Affairs Commission (CAC) website revealed that the NFGCS Farm limited which was claimed to have started in 2017 was duly registered on September 4, 2018, with an address located at Apartment A2, Icon City Building along Keffi-Akwanga Express Road.
Questions such as the rule considered for CACS loan, whether collateral is required in line with banking policy and what banking policies were used for this particular loan are still left unanswered as regards this loan.
Exclusive: No National Population Census Since 2006, Yet Agency Chairman Nasir Isa Kwarra Said He Spent ₦240 Billion To Count Nigerians
Spread the loveSecrets Reporters Nigeria has not conducted a national census since 2006. For nearly two decades, the National Population...
Exclusive: N23.8 Billion and Counting: The Outrageous Spending Spree of Zacch Adedeji At The Helm Of FIRS/NRS For Flights, Trainings And Security Votes
Spread the loveSecrets Reporters While Nigerians groaned under subsidy removal, currency collapse, and record inflation through 2023 and 2024, the...
Friends, associates gather to celebrate MB Anugwa’ graduation from National Defence College Abuja
Spread the loveSecrets Reporters It was a moment of liveliness and celebration as friends, family members and associates of Controller...
Former FRC CEO, Daniel Asapokhai Questioned for N138.7 Million in Unremitted Surplus, Unapproved Legal Fees and Foreign Trips While in Office
Spread the loveSecrets Reporters In a detailed indictment contained in the Auditor-General for the Federation’s Annual Report on Non-Compliance and...
Investment and Securities Tribunal’s N18 Million Black Hole Under Chief Registrar Habu Yerima Saleh: Unvouched Payments, Extra-Budgetary Spending and Silence from Management
Spread the loveSecrets Reporters A quieter but equally troubling set of findings have revealed non-compliance and internal control weaknesses at...
₦1.37 Trillion Unrecovered: The Auditor General’s Report That Put Governor Yemi Cardoso Central Bank On Trial
Spread the loveSecrets Reporters The Central Bank of Nigeria is supposed to be the guardian of the nation’s monetary integrity,...
Exclusive: How NSIA MD Aminu Umar-Sadiq Started Assets Construction Project With N363 Million And Jumped To N44.8 Billion In One Year – Part 1
Spread the loveSecrets Reporters The Nigeria Sovereign Investment Authority (NSIA) for years runs opaque, without scrutiny. When a team of...
N2.05bn Customs Audit Bombshell: N1.94bn Taxes Unremitted, N103.5m Legal Fees Questioned Under Hameed Ali
Spread the loveSecrets Reporters Troubling financial and administrative lapses have been discovered in the Nigeria Customs Service Headquarters in...
Cash In Hand: The Multi Million Naira Olubunmi Tunji-Ojo Federal Ministry Of Interior Money Paid Directly To Individual Staff Accounts Without Vendors
Spread the loveSecrets Reporters A government ministry does not run on personal bank transfers. Government financial system in the world...
A Satellite Agency Building Roads And Community Halls: Inside MD Jane Egerton-Idehen N236 Million Mandate Violation At NIGCOMSAT
Spread the loveSecrets Reporters The Nigerian Communications Satellite Limited exists for one reason, which is to build, deploy and commercialise...
Exclusive: Abacha’s Pointman And Nigeria’s Minister Atiku Bagudu’s Quiet Owned Texas Property Raises Fresh Questions Under Nigeria’s Asset Declaration Rules
Spread the loveSecrets Reporters While Abubakar Atiku Bagudu directs Nigeria’s national budget and economic planning from Abuja, public records in...
Prof. Joseph Eberendu Ahaneku and The N348.86m Questionable Expenditure, Investments, and Allowances in Nnamdi Azikiwe University
Spread the loveSecrets Reporters A review of the Nnamdi Azikiwe University (NAU), Awka, Anambra State, has exposed about N348.86...
N5 Billion On “Travel and Training”: Inside Dayo Mobereola’s First Full Year Of Questionable Spending As NIMASA DG
Spread the loveSecrets Reporters Dr. Dayo Mobereola was appointed Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) in...
Exclusive: Federal Government Indicts MDGIF Director Oluwole Adama Of N33.6 Billion Under-Remittance of Gas Flares Penalty To Public Purse
Spread the loveSecrets Reporters Nigerians will be witnessing series of financial misappropriation investigation and public hearings of those heading government...
Exclusive: N1 Billion Into Private Pockets: How Finance Permanent Secretary Lydia Jafiya Routed Public Funds Through Personal Bank Accounts In Six Days
Spread the loveSecrets Reporters Public funds are meant to move through public channels via ministries, agencies, contractors with verifiable corporate...
N10 Billion Paid To Six Months Old Company And Four Ghost Companies: Inside Fmr Minister Wale Edun, NRS Chairman Zaach Adedeji And Perm. Sec Lydia Jafiya’s PCNGI Contract Heist
Spread the loveSecretsReporters The Presidential CNG Initiative (PCNGI) was sold to Nigerians as a lifeline, a federal programme meant to...
Private Business Claims Linked to Permanent Secretary John Chidiebere Ezeamama in Violation of Code of Conduct for Civil Servants
Spread the loveSecrets Reporters SecretsReporters has reviewed public records concerning Dr. John Chidiebere Ezeamama, the Permanent Secretary of the...
N1.63 Billion Web of Questionable Spending Uncovered at Nigeria’s Peace Institute
Spread the loveBy Secrets Reporters SecretsReporters has obtained internal records exposing a pattern of financial irregularities at the Institute for...
Political Witch Hunting: Tinubu’s Tax Man, Zaach Adedeji Begins Audit Of Irvin Global One Day After Peter Visited MD
Spread the loveSecrets Reporters The Nigeria Revenue Service (NRS) has commenced a full-scale tax audit of Irvin Global and Investment...
Against CCB Law, NSIA Boss Aminu Umar-Sadiq Runs Various Private Companies
Spread the loveSecrets Reporters Corporate Affairs Commission records obtained by SecretsReporters have linked the Managing Director and Chief Executive Officer...