#Thread: Inside multi-billion naira estacode racketeering
In 2012, Aruma Oteh, former director-general of the Securities and Exchange Commission (SEC) while appearing before a committee of the House of Representatives, accused...
#naira #efcc #nairaracketeering #businessday
In 2012, Aruma Oteh, former director-general of the Securities and Exchange Commission (SEC) while appearing before a committee of the House of Representatives, accused...
#naira #efcc #nairaracketeering #businessday
Herman Hembe, former chairman of the House Committee on Capital Market, and his deputy, Chris Azubogu, of converting $4,095 to personal use.
The money was given to Hembe as an estacode to attend a conference in the Dominican Republic, but he failed to attend the conference,
The money was given to Hembe as an estacode to attend a conference in the Dominican Republic, but he failed to attend the conference,
thereby allegedly committing an offence contrary to section 308 of the Penal Code Act Laws of the Federal Republic of Nigeria (Abuja) 2004 and punishable under section 309 of the same code.
Hembe was absolved of any wrongdoing because, in his testimony, he travelled to the United States but returned when he could not get a connecting flight to the conference in the Dominican Republic.
The EFCC would later go to court to get a judgment but the Appeal Court in 2015 said Hembe had no case to answer because the incident was an administrative oversight for which he should have been asked to make a refund.
The SEC never disclosed whether they made a request for a refund or they let him go.
Estacode, also known as travel allowance, is money paid to workers while on official duty outside their place of domicile to cover expenditures during travels.
Estacode, also known as travel allowance, is money paid to workers while on official duty outside their place of domicile to cover expenditures during travels.
It covers expenses for feeding, hotel accommodation, and other incidental expenses while on official engagements.
Under the current arrangements, ministers are entitled to $900; special advisers, $800; directors-general of MDAs, $900; chief justice of Nigeria, $2,000;
Under the current arrangements, ministers are entitled to $900; special advisers, $800; directors-general of MDAs, $900; chief justice of Nigeria, $2,000;
justices of the Supreme Court, $1,300; Appeal Court president, $1,300; judges of the court, $1,100/$600; Senate president, $1,300; deputy Senate president, $1,100; senators, $950; House of Rep speaker, $1,200; deputy speaker, $1,000, permanent secretaries, $600;
officers of level 15-17, $425; levels 7-14, $381 and those on levels 1 to 6, get $206.
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#naira #efcc #nairaracketeering #businessday
businessday.ng
Read more on this article here
#naira #efcc #nairaracketeering #businessday
businessday.ng
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