Northern Elders Forum Opposes Alleged Plan to Relocate Aviation Equipment from Zaria to Lagos

GovernMend Nigeria March 4, 2024 0

The Northern Elders Forum (NEF) has voiced its opposition to an alleged plan to relocate critical firefighting simulation equipment from the Nigeria College of Aviation Technology (NCAT) in Zaria, Kaduna State, to Lagos State. In a statement issued by NEF’s director of publicity and advocacy, Abdul-Azeez Suleiman, the forum expressed concern over the potential implications of such a move on the aviation industry’s development.

NEF emphasized the importance of NCAT’s firefighting simulators in preparing future aviation professionals for emergencies, highlighting that relocating these simulators could jeopardize the quality of training and compromise air travel safety in Nigeria. The forum called for a reconsideration of the plan, stating that any decision undermining the training and preparation of aviation professionals must be strongly opposed.

In response to these allegations, the Minister of Aviation and Aerospace Development, Festus Keyamo, debunked the claims, describing them as false and unfounded. In a statement issued by his spokesman, Tunde Moshood, the Minister clarified that there was no truth to the rumour. Moshood recalled a private audience between the Speaker of the House of Representatives and the Minister, where the Minister reassured the Speaker of the falsehood of the claims.

Moshood criticized the rumour as a mischievous act by agents of destabilization, emphasizing that the Minister had already confirmed the inaccuracy of the reports. He urged the public to disregard the rumour and viewed the motion as unnecessary grandstanding. The Minister’s statement highlighted the need to focus on factual information rather than political gains.

The conflicting statements between NEF and the Minister of Aviation underscore the importance of accurate information dissemination and the potential consequences of misinformation on critical sectors like aviation. As the aviation industry continues to evolve, ensuring transparency and clarity in decision-making processes remains paramount for its sustainable growth and development.

Daily Nigerian

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GovernMend Nigeria May 4, 2024 0
BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.<br><br>This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.<br><br>In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.<br><br>Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.<br><br>Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.<br><br>In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.<br><br>In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

GovernMend Nigeria May 4, 2024 0
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GovernMend Nigeria May 4, 2024 0

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