Music streaming platform, Spotify, announced on Tuesday that it has exceeded 600 million monthly users as of the end of 2023 and anticipates a profitable start to 2024, according to a statement released following its fourth-quarter earnings report.
CEO Daniel Ek expressed optimism about the company’s performance, highlighting a significant year of growth. “Spotify had a very strong quarter, rounding out a great year of truly remarkable growth across the company,” Ek shared on X following the publication of its fourth-quarter earnings.
By the end of 2023, the company boasted 602 million monthly active users (MUAs), marking a 23 percent increase compared to the previous year. Additionally, paying subscribers, which form the cornerstone of Spotify’s revenue, grew by 15 percent to reach 236 million.
Despite its success, Spotify reported an operating loss of 446 million euros in 2023, although this represented an improvement over the 659 million euro loss in 2022. Notably, the company has yet to achieve a full-year net profit, despite sporadic quarterly profits.
To streamline operations, Spotify announced in December a workforce reduction of approximately 17 percent, following earlier cuts in January and June 2023. Moreover, in July, the company adjusted its premium subscription prices in several markets globally, aligning with similar adjustments by competitors like Apple and Amazon.
Spotify’s growth strategy has involved substantial investments, including expansions into new markets and exclusive content such as podcasts. Last week, the company renewed its partnership with Joe Rogan for his highly popular podcast, securing a “multi-year partnership” deal.
Looking ahead to the first quarter of 2024, Spotify anticipates reaching 618 million MUAs and achieving an operating profit of 180 million euros.
[Leadership]
The Minister of Finance and Coordinating Minister of the Economy, Olawale Edun on Tuesday, February 6, disclosed that the tax to GDP level in Nigeria is 10%, with states included it rises to 13% making it one of the lowest in the world.
He noted that the tax-to-GDP ratio in other African countries is close to 25%.
In the developed world it is over 50% in ways of tax collection which facilitates investment in social infrastructure, social services, welfare, and a whole lot more.
The minister disclosed this during the bilateral inter-ministerial meeting with the German minister of economic development and cooperation Svenja Schulze and the minister of Industry Trade and Investment, Doris Uzoka Anite in Abuja, stating that the government requires these tax funds to carry out its responsibility, so there is no getting away from the fact that adequate tax must be paid.
He said: “There is a need to grow the economy and increase productivity, create jobs, and reduce poverty as these can only be done by having a successful and thriving private sector. Issues of rising prices are also a concern to the government and all Nigerians.
“Some of the major steps taken are on demand and supply, especially in the area of agricultural products. President Ahmed Tinubu has intervened in that sector by providing grains and fertilizer to farmers. He also intervened in the area of rice, maize, wheat, and cassava production, these all will bring down inflation very soon.
The German Minister of Economic Development and Cooperation, Svenja Schulze said there is a need to promote a bilateral relationship between the two countries as Nigeria has so many creative young people.
She also noted that jobs, food security, and education must be addressed. Germany she said is looking forward to deepening the relationship between both countries.
The Minister of Industry Trade and Investment, Doris Uzoka Anite said the German government is interested in building skills and ensuring education for artisans, these are areas where both countries can conveniently partner under the MSMEs.
The signing of the Memorandum of Understanding MOU will take place to streamline planning and decision programmes.
[TheNtaion]
Super Eagles striker, Victor Osimhen has been reportedly cleared by the team’s medical doctor for the clash against South Africa.
Recall Osimhen missed the Super Eagles trip to Bouake – the venue of the semi-final clash with South Africa – after suffering abdominal discomfort.
It was said that the Napoli striker will be examined on Tuesday morning, and if cleared, will join the rest of the squad who have arrived safely in Bouake.
According to sources in Abidjan, Osimhen is on his way to Bouake after being declared fit by the medical team.
The 25-year-old has started in all of Super Eagles’ five matches in Cote d’Ivoire, scoring one goal and chalking up one assist.
The Confederation of African Football has appointed Egyptian official Amin Mohamed Omar as the referee for Wednesday’s Africa Cup of Nations semi-final encounter between Nigeria’s Super Eagles and the Bafana Bafana of South Africa.
The match, which will commence at 5 pm Cote d’Ivoire time (6 pm in Nigeria), will see Omar’s compatriots, Mahmoud Kamel Abouelregal and Ahmed Hossam Ibrahim, playing the roles of assistant referee 1 and assistant referee 2, respectively, while Sudanese Mahmood Ali Ismail will serve as the fourth official.
Attia Essa Amsaaed from Libya will be the reserve assistant referee, with Yacoub Ali Elmi from Djibouti as commissioner and Aboubacar Doumbouya from Guinea as the referee assessor.
Three-time champions Nigeria and 1996 champions South Africa will face off in their second-ever Africa Cup of Nations semi-final clash at the Stade de la Paix. Their only previous meeting at the same stage, at the National Stadium in Lagos when Nigeria co-hosted the 2000 finals with Ghana, ended 2-0 in favour of Nigeria.
Wednesday’s clash is being billed as the more potentially explosive of the two semi-finals (hosts Cote d’Ivoire are up against the Democratic Republic of Congo), given the pedigree, rivalry, and ambition of the two teams.
South Africa has only beaten Nigeria twice in 14 previous meetings at full senior level, though Nigeria edged an African Nations Championship clash by beating the hosts 3-1 in Cape Town in 2014.
The Eagles are presently ranked 42nd in the world by FIFA (6th in Africa), while the Bafana Bafana are 66th in the world (12th in Africa).
Four years ago, both teams met at the quarter-final stage, with the Super Eagles edging the encounter at the Cairo International Stadium 2-1, the goals coming from Samuel Chukwueze and William Ekong. Both players are in the present squad and likely to be part of Wednesday’s battle.
[Leadership]
AFCON 2023: Nigerian High Commission warns South Africa-based citizens ahead of semi-final clash
AdminTHE Nigerian High Commission in South Africa has purportedly warned Super Eagles fans to stay safe following threats of xenophobia regarding the AFCON 2023 Africa Cup of Nations semi-final fixture against Bafana Bafana.
There is a history of xenophobic attacks on Nigerians living in South Africa and the upcoming match has caused some tension, with some South Africans threatening to pounce again.
An advisory note circulating online with the Nigerian High Commission letterhead has told Nigerians to mind how they celebrate if the Super Eagles win tomorrow’s encounter in Bouake, Cote d’Ivoire.
“The attention of the Nigeria High Commission Pretoria has been drawn to potentially inflammatory online comments made by a section of South African citizens against Nigerians living in host country, largely influenced by the upcoming 2024 African Cup of Nations (AFCON) semi-final match between the Super Eagles and the Bafana Bafana on Wednesday 7th February 2024,” the statement reads in part.
“Most of the comments consist of veiled threats against “Nigerians cooking jollof rice” before the match, and “showing pepper to Nigerians if Bafana Bafana lose to the Super Eagles”, among others.
“In this regard, the High Commission hereby advises the Nigerian community to be watchful of their utterances, be mindful of where they choose to watch the match especially in public places, and refrain from engaging in loud. riotous or provocative celebrations should the Super Eagles win the match.
“Additionally, Nigerians should maintain the good conduct they are known for, and be law abiding before, during and after the match. Should any provocations arise, they should not be reciprocated but reported to the appropriate authorities.”
Nigerians have been engaging in online banter with Ghanaians, Cameroonians and Angolans since AFCON 2023 began over three weeks ago, and this is the first time there have been threats of physical violence from any set of fans.
[NaijaTImes]
Security and intelligence agencies in the country have reportedly uncovered plots by some unnamed individuals to pitch Northern Senators in the 10th 10th National Assembly against Nigerians.
Recall that a report had emerged alleging that an influential Northern Senator is closely being watched by security agencies in the country for reportedly spearheading terrorism, banditry, and Kidnapping.
According to the report, the influential lawmaker, who is also heading a sensitive committee in the Senate, has been identified as one of the sponsors and financiers of banditry and other terror-related activities in the North.
But officers, who pleaded anonymity, told PRNigeria that some “unscrupulous elements” are behind the false report.
The intelligence officers disclosed that the “mischievous persons” hatchet job also aims to pit the nation’s security services against one another.
The top-ranking officer disclosed that their investigation revealed those behind the story, which he described as a “fabrication.”
He said: “Our discreet has unmasked those instigating the baseless story in the media. Presently, our security service is not prosecuting or investigating any Senator for sponsoring banditry or terrorism.”
Another senior military officer said they had identified the mastermind of the media report aimed at ‘denigrating’ northern senators.
He said: “However, I wish to inform you that we are reaching out to security agencies to ensure they find out those behind the sponsored negative campaign.
“During our investigation, we gathered that a retired security officer who is still in the service, having been retained, is the chief mastermind. The ex-security officer is from a state in the middle belt.
“But by the time we track him, he will be made to reveal the Senator he is accusing. Because you cannot pitch some group of people against Nigerians.”
[NaijaNews]
•Drops Mad Over You on Valentine’s Day
Afrobeats star, Kingsley Amoni aka Rayce, is love-struck! And for this reason, he has recorded a love song titled, Mad Over You, with which he plans to serenade his sweetheart, as well as lovers all over the world.
Scheduled to drop on Lover’s Day, February 14, 2024, Mad Over You features Adebayo Adeleke aka B-Red who doubles as Davido’s cousin and son of Osun State governor, Senator Ademola Adeleke. Speaking on the new track, Rayce, who released Ara (Wonder) to a wide acclaim last year, said Mad Over You was inspired by his mood and spiritual flow.
“Music is spiritual, so I sing about what I feel within me and what I think my fans would love. Sometimes, the melody of a song drives the lyrics and most times, I write and add melodies to the lyrics. I just go with the flow.
“Mad Over You is just one of those songs I created while I was in the studio one day in Abuja. I actually went with the flow of the music. I made the beat in two hours and it came out banging. All I kept hearing in my head was ‘mad over you, omo yi mad o’. So, I dropped it and boom, it turned out a banger!”
On the choice of B-Red for collaboration on the song, Rayce disclosed that it was all the idea of his record label, Black Wall Street’s CEO, Ambassador Big Suni.
According to him, “After recording the song, I played it to Black Wall Street’s CEO, Ambassador Big Suni and he suggested that a collaboration would be good for the jam, and I said yes. Big Suni then said B-Red would be nice on it. I immediately concurred. He later sent the file to B-Red who didn’t take long before responding. And here we are today. B-Red not only liked the track, he also nailed it.”
For B-Red, collaborating with Rayce on Mad Over You was exciting and exhilarating. “I’ve known Rayce for a long time. He’s a talented artiste. He featured my cousin, Davido on his song, Wetin Dey, which turned out a hit. So, collaborating with him on Mad Over You was an exciting experience,” he noted.
A sneak peek of Mad Over You’s video revealed that it was shot at the Osun Osogbo Grove, a romantic ambience for lovers, and spiced with faces of popular actors. Commenting, Rayce said the visual concept belonged to the director who wanted something flavoured with African motif.
“The director of the music video basically wanted an African touch to it. He also wanted an environment suitable for love and romance. And that’s exactly what we got by shooting the video at the Osun Grove. Honestly, we had fun during the shoot. That was actually my first time at the grove and I loved the place. The chemistry between B-Red and I was unexplainable. My fans should please watch out for the video.”
In his remarks, Big Suni said everything has been put in place to drop the track on Valentine’s Day.
“Mad Over You is a love song and that’s why we are dropping it on Lover’s Day, February 14. So, all lovers of good music, most especially, Rayce’s fans worldwide should keep a date with us. And with the song featuring a talented musician like B-Red, you can’t expect less. The track is a club banger. I can assure you,” the ambassador declared.
Meanwhile, a nationwide tour tagged: ‘DeycallmeRayce Tour’ is being planned to promote Mad Over You.
[Sun]
Super Eagles striker, Victor Osimhen, is likely to miss the semi-final clash against South Africa.
Nigeria will take on South Africa by 6pm on Wednesday in the ongoing Africa Cup of Nations.
In a statement late Monday, Babafemi Raji, media officer of the Nigerian team, said the striker is suffering from abdominal discomfort.
He disclosed that Osimhen did not travel with the team to Bouaké, the city hosting the semi-final clash.
Osimhen toasts ‘statement’ win for Nigeria
“Members of the team traveled from Abidjan to Bouaké today via a 10 pm Air Cote D’Ivoire flight. Osimhen did not however make the trip as a result of an abdominal discomfort. Team medics confirmed that he has been placed under close watch with a member of the medical team staying behind in Abidjan with him. If cleared by tomorrow morning, he will join the rest of the squad before 5 pm,” the statement read.
Many Nigerians were really looking forward to Osimhen in action when Nigeria take on the rival nation.
While ruing the loss of five Nigerian stars to a South African at the Grammy Awards, music star Teni, had specifically mentioned Osimhen among those whom she wanted to seek revenge in the match.
Daily Trust had reported how Nigerian quintet; Burna Boy, Ayra Starr, Davido, Asake and Olamide were snubbed at the 66th Grammys on Sunday.
Tyla, the only non-Nigerian nominee in the maiden Best African Music Performance category, was given the award.
Reacting in a video shared via Instagram, Teni pleaded with the Super Eagles players to avenge the Grammy loss of their compatriots by defeating South Africa in the semifinal clash in Cote D’Ivoire.
]“Grammy there’s a problem. We have many parties. You have killed our groove. South Africa, Tyla’s ‘Water.’ Alright. Osimhen, over to you. Lookman, over to you. South Africa, you will dance Amapiano after your AFCON defeat. You killed my groove. Grammy why?,” she said in a mixture of Yoruba and English.
[DailyTrust]
Following the Super Eagles’ progression to the semi-finals of the ongoing Africa Cup of Nations in Ivory Coast, The PUNCH reports that the team has earned a prize money of $2.5m (N3bn).
Nigeria reached the semi-finals of the 34th edition of the AFCON after defeating Angola 1-0 at the Felix Houphouet Boigny Stadium in Abidjan on Friday.
As one of the remaining four teams in the competition, the Eagles, alongside South Africa, their semi-final opponents; DR Congo and hosts Ivory Coast, have already secured $2.5m.
Before the start of the tournament, Confederation of Africa Football president, Dr Patrice Motsepe, announced a 40 per cent increase in prize monies.
The runners-up of the African showpiece event will now get $4m, while each of the two semi-finalists will receive $2.5m, with each of the four quarter-finalists taking home $1.3m.
“CAF has made significant progress over the past two years in increasing the prize money of the AFCON and all its other major competitions,” he said.
“We have increased the prize money of the AFCON winner to USD 7 000 000 which is a 40% increase from the previous AFCON prize money.
“I am confident that a portion of the prize money will contribute to developing football and also benefit all the football stakeholders, as well as assist our Member Associations with their administrations,” he added.
If Nigeria advanced to the final, they would have secured a minimum of $4m (N5bn) in prize money.
Additionally, if they win the tournament, they will receive $7m (N8.8bn).
Meanwhile, the Eagles arrived in Ivory Coast’s second-largest city, Bouake, on Tuesday (today) ahead of their semi-final clash against South Africa on Wednesday.
Jose Peseiro’s men have played all their matches in the tournament in Abidjan. Their first two games were at the Alassane Ouattara Stadium, Abidjan, where they drew 1-1 with Equatorial Guinea before pipping hosts Ivory Coast 1-0 in their second game.
Their last group game against Guinea Bissau which they also won 1-0 was at the Felix Houphouet Boigny Stadium while they also slay the Indomitable Lions of Cameroon 2-0 as well as the Antelopes of Angola 1-0 at the same venue.
According to the Nigeria Football Federation, the team will have one training session in Bouake on Tuesday afternoon, having had two sessions in Abidjan on Sunday and Monday.
Historically, when Ivory Coast hosted the AFCON in 1984, Nigeria also played their semi-final match in the city of Bouake against Egypt – which they won 8-7 on penalties after regulation and extra time ended 2-2. Nigeria, however, lost the final 3-1 against Cameroon.
The winners of the Nigeria vs South Africa game face the winners between hosts Ivory Coast and DR Congo, who also faceoff in Yamoussoukro same
day.
[ThePunch]
Neil Tovey and Mark Williams, key figures when South Africa won their lone Africa Cup of Nations title, believe defeating 2024 semi-final opponents Nigeria will be “tough”.
Bafana Bafana (The Boys) and the Super Eagles meet in the central Ivory Coast city of Bouake on Wednesday with a place in the February 11 final on the line.
Nigeria are favourites for several reasons, including a perfect past record against South Africa in the competition with three victories.
The West Africans won a 2000 semi-final in Nigeria 2-0, a 2004 group match in Tunisia 4-0 and a 2019 quarter-final in Egypt 2-1 through a late goal from current captain William Troost-Ekong.
But South Africa, whose starting line-up includes nine locals, one player based in Egypt and another with a Portuguese second-division club, are not without hope, insist Tovey and Williams.
Central defender Tovey captained the 1996 title-winning team and forward Williams came off the bench to score twice within two minutes and sink Tunisia 2-0 in the final in Johannesburg.
Victory for Bafana came one year after the Springboks won the Rugby World Cup and South Africans basked in the sporting successes two years after the collapse of apartheid.
“It is going to be very tough against Nigeria – a final before the final,” Tovey told AFP in a telephone interview from the South African port city of Durban.
“We have suffered many defeats against them, starting with a four-goal mauling in a 1994 World Cup qualifier. More recently, however, the tide has begun to turn.
– Riddled with upsets –
“What we dare not do in Bouake is retreat into a defensive shell. That would be playing into the hands of the Nigerians.
“South Africa must approach the match in a similar manner to the game against Morocco – defend in depth when necessary but also apply pressure.”
In a tournament riddled with upsets, one of the biggest was South Africa winning 2-0 against 2022 World Cup semi-finalists Morocco in a last-16 encounter.
Tovey says he is impressed with South Africa, who have reached the Cup of Nations semi-finals for the first time since the loss to co-hosts Nigeria 24 years ago.
“They are not trying to be clever – they are well organised and perform the basics well. Every player understands his role.
“Take the crucial final group match against Tunisia, which could have eliminated Bafana had they lost. It ended 0-0, but I was impressed with our game management.”
Johannesburg-based Williams told AFP he was struck by the team spirit of South Africa, who have not conceded in four matches since losing their opener 2-0 to Mali.
“Having eight Mamelodi Sundowns players in the starting lineup helps a lot. You can see the players know each other very well.
“When you have a mix of local and foreign-based players there can be initial misunderstandings. Also, (Egypt-based) Percy Tau is a former Sundowns star.
“Make no mistake, it is not going to be easy against Nigeria. They have always had extremely skillful players and the likes of (Victor) Osimhen and (Ademola) Lookman are continuing the tradition.
“But our boys, although not as well known, are also skillful. Mentality is key – we have to walk onto the pitch believing we are going to win.”
Both Tovey and Williams say the Ivory Coast will overcome the Democratic Republic of Congo in the later semi-final on Wednesday in Abidjan.
AFP
More...
Chapter Seven, Section 713 of Nigeria’s Financial Regulations 2009 states that “Personal money shall in no circumstances be paid into a government bank account, nor shall any public money be paid into a private account.”
Last month, the Minister of Humanitarian Affairs, Betta Edu, was suspended from office by President Bola Tinubu following public outrage over the disclosure that she authorised the payment of N585.2 million public funds into a private account in violation of financial transparency laws. However, PREMIUM TIMES’ findings show that the “crime” she is accused of is prevalent across several ministries, departments and agencies (MDAs). At least N159.6 billion (N159,626,619,959) was paid into private accounts by MDAs in six years, a review of data published by Govspend, a platform tracking government spending, show.
The findings do not exonerate Ms Edu but show that the problem is not peculiar to her and is widespread within the Nigerian government.
The Office of the Special Adviser to the President on Niger Delta tops the list of MDAs making such controversial payments with a total payment of N8.3 billion in 130 transactions to Ebikabowei Victor-Ben, an ex-Niger Delta militant.
The Nigerian office of the New Partnership for African Development, a pan-African poverty-eradication programme funded by member states, comes next having paid N1.5 billion in 111 tranches to one Afangekung Mfon Okon.
Other MDAs that made multiple transactions into private accounts include the Ministry of Information and Culture, Ministry of Communications and Digital Economy, Ministry of Power, Ministry of Women Affairs, Economic and Financial Crimes Commission (EFCC), Office of the Accountant General of the Federation and Secretary to the Government of the Federation (SGF).
Over N13bn public funds paid into private accounts in 2023
Last year, more than N13.6 billion was paid into private accounts in violation of the country’s Financial Regulations 2009.
The violators include the Office of the SGF, Ministry of Women Affairs, Ministry of Finance, Budget and National Planning and many parastatals.
Findings showed that the Office of the Special Adviser to the President on Niger Delta paid N4.72 billion into individual accounts of some camp leaders in the Niger Delta where the struggle for oil wealth and agitation against environmental hazards have propelled ethnic militias to pick arms against the state.
For instance, in a total of 10 transactions, Mr Victor-Ben, the ex-militant also known as Boyloaf, received N564.7 million from the office between July and November 2023. According to the transactions’ descriptions, the money was meant for “delegates of Boyloaf camp.”
His counterparts also benefited, having received N3.5 billion collectively.
Despite its oversight functions, the SGF office was also caught in the web. It paid public funds amounting to N3.1 billion into 15 private accounts between March and December 2023.
.
The scandal-ravaged Ministry of Humanitarian Affairs, Disaster Management and Social Development paid at least N918.5 million public funds into private accounts. This is in addition to other scandalous payments in the ministry as seen in the cases of the pioneer minister, Sadiya Umar Farouq and her successor, Betta Edu.
![Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu [PHOTO CREDIT: @edu_betta]](https://media.premiumtimesng.com/wp-content/files/2023/12/GA6yWN4WoAA37vA-e1702419694968.jpg)
The Ministry of Finance, Budget and National Planning paid N1.5 billion in tranches to 16 individuals for various projects and services between February and December last year.
In other suspicious transactions, the Ministry of Women Affairs paid N1.6 billion into the accounts of vaguely identified individuals for travel purposes, palliative for widows, and monitoring and evaluation of capital projects among others.
Between March and September, NEPAD paid N1.67 billion into the accounts of two individuals, Bello Nagwaggo and Afangekung Mfon Okon.
EFCC, Police, Human Rights Commission, AGF office, others complicit
While five parastatals paid billions into private accounts, 12 others paid in millions with the lowest being N17.6 million.
The MDAs that paid millions into individual accounts include, the EFCC, Police Formations and Commands, Nigeria Police Academy Wudil, Kano, National Directorate of Employment, National Commission for Refugees, Auditor General for the Federation, National Commission for Persons with Disability, Ministry of Communications and Digital Economy, Federal Character Commission, Ministry of Aviation and Aerospace Development, Ministry of Petroleum Resources, Budget Office of the Federation and National Human Rights Commission.
Others are the National Agency for Science and Engineering Infrastructure (NASENI), the National Commission for Mass Literacy, Adult & Non-formal Education, the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Ministry of Niger Delta.
The EFCC in two transactions between May and October last year, paid a total of N211.7 million into two private accounts; one for Aliyu Naibi (N154,974,745.00) and the other for Abdullahi Mohammed (N56,767,056.83).
In total, the police (police formations and commands and Nigeria Police Academy Wudil, Kano) paid N173.8 million into five individual accounts.
Prominent Nigerians as beneficiaries
Some of the payments made into individual accounts could be explained. For example, former President Muhammadu Buhari, former Vice President Yemi Osinbajo, former SGF Boss Mustapha and many ministers and aides who served in the Buhari administration were paid their severance allowances.
One notable controversial payment made to a known public official was the N89.8 million that the police paid to the then-police spokesperson, Frank Mba, in 2019. The official records show that the payment was for issues such as the production of presidential portraits to be used by the police and the cost of “airing” a police programme on TV; payments the police could have made to the service providers directly.
What the law says
Chapter Seven, Section 713 of Nigeria’s Financial Regulations 2009 states that “Personal money shall in no circumstances be paid into a government bank account, nor shall any public money be paid into a private account.”
It also added that: “Any officer who pays public money into a private account is deemed to have done so with fraudulent intention.”
Commenting on our findings, Joe Abah, a former Director-General of the Bureau of Public Service Reforms, said: “Things like that should not be paid into personal accounts but should be transparently procured.”
He added that the financial regulations condemn “paying project activity money into private bank accounts, like was alleged to be done in the Betta Edu case.”
However, the Deputy Director of Fiscal Accounts in the office of the Accountant General of the Federation, James Abalaka, said that the Financial Regulations 2009 recognises circumstances in which public money can be paid into private accounts.
Chapter 10, Section 1001 of the regulations sheds light on what it described as ‘imprest’, which is “applicable to all sums advanced to a public officer to meet expenditure under current estimates, for which vouchers cannot immediately be presented to a Sub- Accounting Officer for payment.”
“Imprests are issued by the Accountant-General of the Federation and the Accounting Officers of Self-Accounting ministries/extra-ministerial offices and other arms of government,” section 1002 explains further. “The authority for issuing Imprests is conveyed in the Annual General Imprest Warrant issued by the ‘Minister of Finance to the Accountant-General.”
According to the financial regulation, there are two types of imprest namely: standing imprest and special imprests. The latter which is granted for a particular purpose “must be retired in full when the purpose has been achieved.”
The former “may be replenished from time to time during a financial year by the submission of paid vouchers to Sub-Accounting Officers for reimbursement.”
Mr Abalaka noted that MDAs are responsible for money paid into private accounts. According to him, the accountant general’s office through the Government Integrated Financial and Management Information System (GIFMIS) only facilitates payments of vouchers raised by MDAs.
Mr Abalaka told PREMIUM TIMES that there are three layers — initiator, reviewer and final approval — of payments in every MDA.
“The initiator is someone who initiates payment after a permanent secretary’s approval,” he explained. “The reviewer then reviews it and checks whether there are adjustments to be made before passing it for final approval where the Central Bank of Nigeria (CBN) makes the payments.”
The accountant general’s office, he explained, only makes the government’s daily expenditures open through the open treasury portal and is not responsible for any payment made “except the one made within the AGF office.”
He, however, declined comment on the N11.5 million paid to one Lanre Gbajabiamila by the accountant-general’s office.
On 25 September 2023, N5.7 million was paid to Mr Gbajabiamila as “Payment of furniture allowance to 19 political office holders.” The same amount was in 2018 paid into his account for a similar purpose.
Seven men on Monday appeared before the Federal High Court in Lagos State for allegedly tampering with a petroleum product pipeline.
The defendants are Godbless Ebi, Gabriel Otovor, Saheed Abdularahman, Anthony Arubayan, John Adebayo, Emmanuel Ajayi, and Godwin Joseph.
They were arraigned before Justice Abimbola Awogboro on a two-count charge of conspiracy and unlawfully tampering with petroleum pipeline.
They, however, pleaded not guilty.
Prosecution counsel, Mrs. O. Halima, told the court that the defendants committed the offences on Jan. 10 at Obawole, Fagba, Lagos State.
The alleged offences contravene Sections 1(19) and 3(6) of the Miscellaneous Offences Act, Law of the Federation, 2004.
The court granted the defendants bail in the sum of five million Naira each, with two sureties in like sum.
The court also ordered that one of the sureties must have a landed property.
It adjourned the case until March 11 for trial, and ordered that the defendants should be kept at the Ikoyi custodial facility, pending perfection of their bail. (NAN)
Beggars in Lokoja, the Kogi State capital, have cried out over the declining rate of assistance from members of the public.
The beggars described their condition of living as “terrible” and unbearable.
Speaking with DAILY POST at the popular old market in Lokoja, a beggar, who identified himself as Malam Abubakar Alli, expressed concern that he and his colleagues in the alms business no longer made enough money to feed.
Alli said: ”Few years back, I could boast of making N1,500 to N2,000 a day from begging, but for the past one year or so, I hardly make up to half of that amount.”
Another beggar, Mohammed Adamu, who noted that he lost his sight many years ago, said he has been finding it very difficult to cope with life due to diminishing earnings from begging.
“We cannot engage in meaningful physical work that can bring money to our pocket.
“As persons with disabilities, we depend solely on other members of the society.
“What they keep on telling us is that they are also feeling the negative impact of the bad economy. We are dying of hunger. Where do we go from here?” He asked.
The beggars called on the State and the Federal Government to find meaningful solutions to the current social and economic challenges facing the country.
DAILY POST reports that the cost of living in Kogi State, especially Lokoja, is very high.
For instance, garri, a staple food hitherto regarded as the common man’s food, has gone beyond purchasing capacity, with a measure of it skyrocketing from N500 to N2,200.
A market survey by DAILY POST in Lokoja revealed that prices of rice, beans, noodles, semovita, meat, tomato, pepper, onion, maize, corn, fruits, groundnut oil, red oil, among others have hit the roof top.
This is coupled with the high cost of transportation and other social services due to the removal of fuel subsidy by the President Bola Ahmed Tinubu-led Federal Government in 2023.
The Super Eagles have earned a prize money of $2.5m (N3bn), after qualifying for the semi-finals of the Africa Cup of Nations.
Nigeria defeated Angola 1-0 last Friday to reach the last four and will now play South Africa for a place in Sunday’s final.
Jose Peseiro’s men along with South Africa, DR Congo and hosts Ivory Coast, have already secured $2.5m.
Before the tournament kicked off, the Confederation of Africa Football, CAF, president, Dr Patrice Motsepe, announced a 40% increase in prize monies.
If Nigeria advanced to the final, they would have secured a minimum of $4m (N5bn) in prize money.
Also, if they win the tournament, they will receive $7m (N8.8bn).