By Amos Tauna, Kaduna

The Executive Director of a non-governmental organization, Eagle Brain Youth Transformative and Development Initiative (EBYTDI), Mr Daniel Ejembi, has called on the Economic and Financial Crimes Commission (EFCC), the National Assembly and Kaduna state government to intervene on alleged hijacking of a federal constituency project intended for public schools in Dokan Mai Jama’a, Chikun Local Government Area of Kaduna State.

A statement issued by the Executive Director described the alleged diversion of the public resources to a private entity is a grave injustice to the children of Dokan Mai Jama’a.

According to him, “This diversion of public resources to a private entity is a grave injustice to the children of Dokan Mai Jama’a. We demand swift intervention by the Kaduna State Government, the Economic and Financial Crimes Commission (EFCC), and the National Assembly to recover misused funds and prioritize education for all.”

The statement stated that investigation reveals that a federal project sponsored by Yakubu Umar Barde, former member representing Chikun/Kajuru Federal Constituency, was alleged to have been unlawfully diverted to Fatima Academy, a private school owned by Abdulhadi Abubakar.

Ejembi explained, “The project, initially earmarked for constructing a public school, was instead executed at Fatima Academy, which lacks registration with the Corporate Affairs Commission (CAC).”

He added that the contractor, Amrah Farms Nigeria Limited (RC-1523474), with directors including Abdulyekin Bello Tahir and Bello Halimat Sadiq, executed the project in violation of its original mandate, lamenting that public schools in Dokan Mai Jama’a faced severe deficits, including dilapidated classrooms, lack of sanitation facilities, and inadequate learning resources, exacerbating educational inequalities.

The Executive Director called for immediate probe into the alleged diversion of funds by relevant anti-corruption agencies and also called for urgent construction and renovation of classrooms, toilets, and perimeter fencing in the public schools.

He also appealed for the provision of desks, learning materials, and safe water systems for students and advised for legal action against unregistered institutions like Fatima Academy and accountability for involved parties.

Catholic Pontiff, Pope Francis, has died at the age of 88, the Vatican announced on Easter Monday morning.

Late Pope had been in and out of hospital in the last few weeks. He made a surprise appearance at the Easter Sunday service at Vatican on Sunday.

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.As Investors Seek Attractive Yields

Nigeria experienced a significant increase in foreign capital inflows in January 2025, totaling $2.06 billion, a notable rise from $1.57 billion in December 2024.

According to the latest Economic Report from the Central Bank of Nigeria (CBN), this growth was attributed to appealing yields within the domestic financial markets.

The majority of this surge was fueled by portfolio investments, which jumped to $1.85 billion in January from $1.23 billion the previous month. The CBN highlighted that an uptick in money market instruments played a key role in this increase, indicating a renewed interest from foreign investors in short-term, high-yield opportunities.

However, despite the overall rise in capital inflows, foreign direct investment (FDI) decreased to $70 million from $120 million, signaling ongoing caution among long-term investors. Additionally, ‘other investments,’ primarily loans, fell to $140 million, down from $220 million in December.

In terms of composition, portfolio investments constituted a significant 89.6% of total capital inflows, while ‘other investments’ represented 7.01%, and FDI accounted for just 3.39%.

Examining sectoral distribution, the banking sector attracted the largest share of foreign capital, capturing 45.22% of total inflows, closely followed by the financing sector at 44.32%. Other sectors such as telecommunications (3.86%), manufacturing (3.01%), shares (1.57%), and trading (1.43%) received smaller portions.

Geographically, the United Kingdom remained Nigeria’s leading source of foreign capital, contributing 65.65% of total inflows. Other significant contributors included the United States (8.15%), South Africa (7.66%), United Arab Emirates (7.18%), Mauritius (2.87%), and Belgium (2.28%).

The Federal Capital Territory (FCT) was the primary destination for these inflows, receiving 62.88% of the capital, while Lagos attracted 36.59%.