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Ripples of corruption at YabaTech

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Yaba College of Technology is enmeshed in an embarrassing crisis over  corruption allegations against its management,  WALE RAYNERS reports from Lagos.


Last year, there was palpable tension at the  Yaba College of Technology(YABATECH),  Lagos. Hard as management of the institution tried to stifle it several months after, the ripples are yet to abate.

Lecturers, students  and other stakeholders spoke to Time Nigeria expressing their fears  over the consequence of the crisis which bordered on allegations against the college  management.

At the heart of the controversy are the allegations against the  Rector of the College, Mrs Margret Kudirat Ladipo.

Some staff members blame the  Rector for the serial crisis that refused to abate  over the years in the institution. They accused  the institution’s  Governing Council under the chairmanship of Chief Ebenezer Babatope of conspiracy to “loot the institution’s treasury.’’ Some other council members, Sheu Ibraheem,  and Ambassador Yakubu Kwari,  were also accused of  shielding the rector against investigation.

yabatech

It would be recalled that some petitioners had  written the Economic and Financial Crime Commission, EFCC, accusing the rector of “corruption, mismanagement and wastage of the institution’s fund and abuse of office”.

Among many other allegations, the rector was alleged to have purchased a 650 KVA generator from Commint Nigeria Limited for  N24 million without complying with the provisions of the Public Procurement Act which stipulates a national competitive bidding before such a contract could be awarded.

On 18th May, 2010, Ladipo was said to have awarded the contract for the repair of a 1.5 KVA generator to the same Commint Company in the sum of N9.5 million. She was also alleged to have incurred unapproved private hotel bills of about N15 million within a year. The rector was also said to have single-handedly awarded the contract for the construction of roads and fence of the institution’s Epe campus to an  unknown contractor. The contract,  according to investigation,  has not been completed till date even as Time Nigeria learnt that a sum of N200 million was spent on the project.

Armed with the petitions,  the EFCC invited some principal officials of the institution, including the college bursar, Olu Ibirogba. Time Nigeria findings reveal that some of the staff members gave insightful statements that could aid the anti-graft agency to prosecute the rector. But the investigation,  according to the EFCC, is still ongoing.

The college bursar was to be subsequently suspended for revealing indicting information to the EFCC. The action,  which Ibirogba confirmed,  is being challenged in the National Industrial Court.

“I don’t want to comment on the issue of my suspension again since I’m challenging it in a law court”, Ibirogba had told Time Nigeria.

Dr. Margaret Kudirat Ladipo

Dr. Margaret Kudirat Ladipo

Ibirogba,  who worked  as the assistant chief accountant at Federal Polytechnic, Ede,  wrote a petition to the Minister of Education in November, 2013,  calling for the probe of cash donations from Forestech Nigeria Limited of about N70 Million. Ibirogba, in his petition,  also accused the rector of diverting the money meant for staff honorarium. The petitioner also accused  the rector of mismanaging the Yabatech Consults Limited. He alleged that the Yabatech consult has been turned to conduit pipe through which the rector awards contracts to  herself and her  cronies. The suspended bursar called  for an independent investigation into the abuse of public office being exhibited by the Yabatech rector.

In December, 2013, the college management organized a retreat for the governing council.

It was alleged  that Jackay Hotel, Gbagada and the management were involved inflation of room rates. The hotel, it was learnt, charges N7, 000 for a single room lodge but the rector allegedly inflated the room rate to N135, 000.

It was gathered that the retreat was later held at Protea hotel. The reason for using Jackay Hotel in the proposal written for approval , it was learnt, was based on attempt to ask for refund which  Protea Hotel will not do.

The Federal Criminal Investigation Department of the Nigeria Police investigated the “controversial retreat” forwarded its report to the office of the Deputy Inspector General of Police based on request. A police source told Time Nigeria that retreat expenses were highly inflated and that the excesses of the money were refunded.

Police investigations also revealed that the excesses of the money were refunded to Kunle Adams, the displaced spokesman of the college who was removed for “his inability to kill a negative story against the rector”. Jackay hotel management was said to have refunded through Zenith bank account of two companies belonging to Kunle Adam, the former college spokesperson.

According to police investigations, N3 Million was paid to the account of Sherik enterprises and another N3 Million to Fask communication accounts. It was also learnt that N1.5 Million was paid to the bank account of Akintola Daramola and another cash of N3 million was given to Kunle Adam.

Some part time staff of the college were involved in  the prolonged polytechnic strike in 2013 over non payment of their salary.

The magazine checks indicated  that between October and December 2013,  about N1.5 billion was generated. The wages of the part time lecturers was  about N100million.

“Although we cannot come out publicly to protest this but the truth of the matter is that we are being cheated by the management in  not paying our wages.

“ The rector particularly happened to be my godmother  but she is not being prudent in her handling of the school finances,’’ a part time staff who pleaded anonymity said.

Despite the inability of the college to pay wages owed part time staff, over 300 new staff were  employed in September, 2014.  The college also generated about N65 million from the post JAMB test written on 5th to 6th September, 2014 but the staff remunerations were not paid.

Mid last year, it was learnt that the then Chief of Staff to the President, Mike Ogiadome, prevailed on Rukayat Rufai, former Minister of Education to investigate the alleged corruption in YABATECH.

The report of the probe panel was said to have being sent to Head of Service where it is presently gathering dust..

Findings also  revealed  that Moruf Adebakin, the Deputy Registrar (Administration) told the Independent Corrupt Practise Commission, ICPC, that the rector loaned the college a sum of N30 million. Adebakin,  who was then the director of YABATECH Consult,  claimed that the money was meant for the commercial production of blocks and paint.

It was also pointed out  that Ladipo was just appointed rector that time and could not have such a huge amount of money in her private account tolend the institution.

Charles Oni, Director of Public Relations, however,  debunked all allegations against his boss. The college spokesman,  who took  over from Kunle Adam,  argued that the rector did  not give such a loan to the college.

 Oni, who was the pioneer head of Mass communication Department, asked rhetorically:  “Where will she gets N30 Million?’’. He added that “all the allegations were raised by disgruntled elements who want to pull the woman (rector) down.

“Substantial number of the petitions are  known to the public for a long time and they had been investigated by the Governing Council and found to be spurious and calculated attempt to malign the image of the rector.

“ It was on record that one of the mandates of the YABATECH Governing Council, headed by elder statesman, Chief Ebenezer Babatope,  when it resumed office in 2003 was to investigate the initial allegations.

“ The Council found the allegations as mere figments of the imagination of an over ambitious fifth columnist,’’ Oni added.

He said  that anyone in doubt  about the  achievements  of the  rector should visit the college.

Ironically,  members of the House of Representative Committee on Education have commended the rector  for what they described as her judicious use of resources.

The members of the committee led by its chairman, Aminu Suleiman, gave the commendation  when they visited the college as part of their oversight function late last year.

The chairman,  who hailed the rector for her leadership style,  noted that she had contributed to the transformation of the college.

   

About author
Time Nigeria is a general interest Magazine with its headquarters in Abuja, the nation’s Capital.
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The Missing Middle of Infrastructure Finance: Why Capital Still Fails to Become Infrastructure

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  By Chidi Nwafor  In October 2023, a Gulf sovereign wealth fund quietly closed a $2 billion allocation to global infrastructure, earmarked in part for emerging-market energy and transport assets. The announcement drew the usual applause: another sign, commentators said, that institutional capital was finally waking up to the infrastructure opportunity in the Global South. Eighteen months later, less than a tenth of that allocation had actually left the fund’s balance sheet. Not because the mandate had changed. Not because the fund had lost appetite. According to two people familiar with the portfolio, the constraint was simpler and more uncomfortable: there were not enough investable projects to put the money into. This is not a story about a reluctant investor. It is a story about capital that wants to move, cannot find enough places willing and able to receive it in a form it can underwrite, and quietly waits instead. Multiply that fund by the hundreds of pension schemes, sovereign wealth vehicles, commercial banks and infrastructure funds now carrying dedicated allocations for emerging-market infrastructure, and a pattern emerges that rarely makes it into a headline: the world is not short of capital for infrastructure. It has capital in historic abundance, sitting adjacent to a historic infrastructure gap, unable to cross the distance between the two. The Comfortable Explanation  The explanation on offer at every major infrastructure summit is a familiar one. Global infrastructure investment needs run into the tens of trillions of dollars over the coming decade; committed capital falls well short; therefore, the problem is one of insufficient funding, and the solution is more of it: more pledges, more blended-finance facilities, more climate funds, more multilateral capital increases. It is a comfortable explanation because it assigns responsibility clearly to governments who under-fund, institutions who under-commit, and it offers a clean remedy: raise more. It is also, on close inspection, not what the evidence shows. Pension funds globally hold trillions in assets under management with explicit infrastructure allocations that remain structurally underweight, not because trustees have rejected the asset class but because deal flow meeting their risk and governance thresholds has not materialised at the pace their mandates assume. Sovereign wealth funds report the same pattern. Commercial banks with dedicated project finance desks describe pipelines that look full at the term-sheet stage and thin dramatically by financial close. Development finance institutions, whose entire purpose is to absorb risk that commercial capital will not, routinely report that their binding constraint is not capital adequacy but the volume of bankable transactions their teams can originate and structure in a given year. None of this fits the scarcity narrative. All of it fits a different one. Availability Is Not Deployability  Capital availability and capital deployability are not the same condition, and the conflation of the two is doing real damage to how the world thinks about the infrastructure gap. Availability asks whether money exists somewhere with a mandate that could, in principle, be pointed at infrastructure. Deployability asks something much narrower and much harder: whether a specific project, at a specific moment, has been engineered, structured, documented and de-risked to the point where an investment committee can approve it without exception. The first condition is met, overwhelmingly, across nearly every category of capital that matters to infrastructure. The second is met by only a small fraction of the projects competing for it. The result is a market that looks, from the outside, like a financing gap, and functions, from the inside, like a conversion problem: an abundance of capital on one side, an abundance of infrastructure need on the other, and an underbuilt set of mechanisms in between capable of turning one into the other at any meaningful scale. Where the Conversion Breaks  The break does not happen at the ends of the process. It happens in the middle, in the unglamorous sequence of work that turns a plausible concept into an instrument a fiduciary can sign. A promising transmission project needs a feasibility study rigorous enough to survive institutional scrutiny rather than optimistic enough to attract early interest. It needs offtake arrangements that hold up under real counterparty and currency risk, not the counterparty risk assumed in a base case. It needs environmental and social documentation calibrated to the standards of the institutions being asked to fund it, not the standards of the jurisdiction hosting it. It needs a legal and commercial structure that allocates risk in ways a commercial lender, not only a development financier, will accept. It needs a sponsor capable of executing what has been proposed, not merely capable of proposing it. Each of these is ordinary project finance discipline. None of it is exotic, and in mature infrastructure markets it happens as a matter of course, absorbed into systems built over decades: specialist advisers, standard-form contracts, established procurement norms, deep pools of transaction expertise. What is missing in the markets where the infrastructure gap is largest is not the standard itself but the machinery that meets it. Projects arrive at investment committees with ambition intact and preparation incomplete, and that gap is treated, again and again, as an individual project’s failure rather than what it actually is: a structural absence in the systems responsible for producing investable transactions at scale. The Missing Middle  This is the Missing Middle of Infrastructure Finance: the institutional architecture that sits between capital that wants to move and infrastructure that needs building, and whose incompleteness explains far more of the global infrastructure gap than any shortfall in committed funds. It consists of project preparation facilities able to fund feasibility and structuring work before commercial viability has been proven. Transaction advisers capable of building deals that satisfy development mandates and commercial return thresholds at once, rather than treating the two as separate constituencies to be managed sequentially. Risk-sharing and guarantee instruments that convert political, regulatory and currency risk into something a commercial balance sheet can underwrite. Aggregation platforms that bundle smaller, individually sub-scale projects into portfolios large enough to justify institutional transaction costs. Standardised documentation that reduces the bespoke legal cost of every new deal. And coordination across ministries, regulators and financiers robust enough that a technically sound project does not die in bureaucratic sequencing after the money has already been found. None of these are new ideas in isolation. What is missing is their assembly into a coherent system, deliberately funded and institutionally accountable, rather than scattered across donor-funded pilots that end when the grant does. The African Dimension  Africa makes this dynamic unusually visible, and consequently offers an unusually clear opportunity to correct it. The continent’s infrastructure financing need, by any measure, is vast. Less understood is that the shortfall is disproportionately one of preparation rather than capital. Nigerian gas-to-power, off-grid solar and mini-grid developers have each demonstrated that individual projects can clear the bankability bar; what has not emerged is systemic pipeline scale, a steady stream of comparably prepared projects large enough to absorb the capital already circling the sector. The pattern repeats, with local variation, from grid infrastructure in East Africa to transport corridors in West Africa. Interested capital is rarely the scarce input. Investment-ready projects are. The Global Comparison  Mature markets solved this problem gradually and mostly invisibly, through decades of institution-building that predates the current infrastructure conversation: specialist project finance units inside banks, standardised PPP frameworks, established regulatory playbooks, deep benches of transaction lawyers and engineers who move between deals rather than between one-off assignments. Emerging and frontier markets are not being asked to meet a lower standard. They are being asked to meet the same standard without having built the same machinery, and then being told, when deals fail to close, that the problem is insufficient funding….
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