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Nearly €20 million in contention as Chad arrests top oil sector, banking officials

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An investigation into embezzlement at the national oil company in Chad has led to the arrest of a group of senior officials from Chad’s oil and banking sectors.

According to the government, the arrest has been on over the past 10 days.

The Minister of Communication and government spokesman, Abderaman Koulamallah on Sunday said the embezzlement of 13 billion CFA francs (nearly 20 million euros) within the Chadian oil company (SHT) and the National Security Agency (ANS), the internal and external intelligence services, is conducting the investigation.

Among those arrested is the former private secretary of General Mahamat Déby, Idriss Youssouf Boy. Michel Boayam and Tahir Issa Ali Souleymane were also questioned in the framework of the investigation.

“Many people have been arrested and some have been released as part of the investigation into financial misappropriations of 13 billion CFA francs at the SHT.

“The case is currently being handled by the judiciary” and some of the defendants will eventually be presented to a judge at the end of the preliminary investigation, the spokesman added, without giving any details of the charges.” Koulamallah told journalists.

Chad is a modest oil producer, with 47 million barrels in 2021, The central African country joined the circle of African oil producing and exporting countries in the early 2000s and its economy is now very dependent on it.

It is not uncommon to identify corrupt trend in oil sector in Africa. Report says the 2005–2014 oil boom raised incentives for corruption across the oil industry’s value chain. A highly diverse set of private sector actors engaged in corrupt behavior.

Chad’s neighbour, Nigeria, who is also Africa’s largest oil producer, is perhaps the biggest reference to corruption in oil sector in the continent. Efforts from the Nigerian government to investigate and curtail the ill can be traced to the 1950s during the Olusegun Obasanjo military regime. A panel of enquiry was set up to investigate a Two Billion, Eight Hundred Thousand Naira fraud which could not be accounted for by the NNPC.

The cases of corruption in the sector once again raises question if the liquid tressure has been a blessing or curse to the “black continent.”

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Media manager identifies bureaucratic bottlenecks as hindering access to public information

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As discussions on press freedom persist, Albert Mwiinga, Station Manager of Byta FM, sheds light on the hurdles journalists encounter in accessing public information.

Mwiinga identified bureaucracy as a major obstacle impeding media access to information in Zambia.

Speaking to Zambia Monitor in Choma, Mwiinga identified bureaucracy as a significant barrier hampering journalists’ access to vital public information.

“The media has long grappled with the challenge of accessing information, particularly from public sources, due to entrenched bureaucratic practices,” Mwiinga explained.

He lamented the absence of legislation compelling officials to disclose public information to the media.

“There is currently no legal mechanism to compel officials to share such information, making it exceedingly challenging. Moreover, bureaucratic red tape often exacerbates the situation,” Mwiinga observed.

Mwiinga expressed optimism regarding the potential impact of the Access to Information Bill once it becomes operational, foreseeing enhanced media independence.

“Although progress is being made, journalists remain subject to legal constraints, including defamation and libel laws. The regulatory framework, such as the Independent Broadcasting Authority (IBA), further complicates matters,” Mwiinga said.

His analysis underscored the persistent bureaucratic hurdles impeding media access to public information in Zambia.

This story is sponsored content from Zambia Monitor’s Project Aliyense.

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Metro

Nigeria: Atiku alleges Tinubu’s son, surrogates on board of firm awarded lucrative coastal highway contract

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Former Nigerian Vice President, Atiku Abubakar, has alleged that President Bola Tinubu’s son, Seyi, and his surrogates are on the board of Hitech Construction Ltd owned by Gilbert Chagoury, which was recently awarded the controversial multibillion dollar Lagos-Calabar coastal highway which he says constitutes a conflict of interest.

Atiku, who was presidential candidate of the Peoples Democratic Party (PDP) in the country’s 2023 election, in a statement on Sunday, said awarding the contract to the company meant that Tinubu had placed his personal interest above the interest of the country.

In the statement issued by his media adviser, Paul Ibe,
Atiku cited a report by the Paris-based Africa Intelligence News Agency which revealed by the Corporate Affairs Commission
that Tinubu’s son is a director on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, which manufactures ceramic tiles and sanitary towels.

He noted that such a situation will make it difficult for Nigeria to attract foreign investors if the government fails to make the process of awarding contracts transparent and open, adding that it was not surprising that the Chagoury Group had become the biggest beneficiary of the Tinubu largesse.

The former Vice President restated that it has become obvious even to the undiscerning that the Lagos-Calabar Coastal Highway is being done in a hurry purely because of the business relationship between Tinubu and Gilbert Chagoury, the owner of Hitech, the contractor that was awarded the contract for the highway project in contravention of the procurement laws.

“It is on record that this project is the most expensive single project ever embarked upon by the Nigerian government. The fact that it is happening at a time Nigeria is facing its worst economic crisis ever is a red flag,” Atiku said.

“Thanks to quality reporting by Africa Intelligence, our suspicions have been confirmed that Chagoury and Tinubu are indeed business partners and it has been formalized with Seyi on the board of one of Chagoury’s firms.

“To add insult to injury, this project that is being done in excess of $13bn was awarded without a competitive bidding. From all indications, the so-called Badagry-Sokoto highway would be awarded in a similar fashion at an enormous cost to taxpayers purely because Tinubu has put his personal interest ahead of the Nigerian people.

“Tinubu has been globetrotting in search of foreign direct investments. He claims to have secured over $30 billion from various companies, but none has been forthcoming.

“Rather, all manufacturing firms have been posting heavy losses while some are exiting due to his poorly implemented exchange rate unification policy with even Aliko Dangote describing it as a huge mess at the recent annual general meeting of Dangote Sugar Refinery.

“The IMF in its latest report stated that Nigeria will by the end of the year, become the 4th largest economy in Africa behind South Africa, Egypt and Algeria, a disgraceful development for a nation which was the largest in Africa by a mile when the PDP left the stage in 2015.

“Investors are seeing how local businesses are being treated and will not come to a place where their investments will not be protected.

“But Tinubu’s eagerness to satisfy his business partners impaired his ability to coordinate the project properly.

“The awarding of the Lagos-Calabar coastal highway was rushed; the environmental impact assessment report was not even completed; the right of way for the 700 km stretch of the highway project was not secured; it was converted from a PPP to a government funded project within the twinkle of an eye.

“Under a normal circumstance, the project ought to have gone through a proper bid process and after a certificate of no objection by the BPP, the evaluation report should have been sent to the federal Executive Council FEC, for approval before the award.

“But what we saw was a letter from the Presidency informing the BPP that the contract was awarded to the company, which the BPP DG simply approved,” he stated.

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