The Postmortem Sub-Committee of the Federal Account Allocation Committee (FAAC) has recommended that the Federal Government refund the about N228 billion loan it took from the non-oil excess revenue account to fund the 2023 general elections.
This is according to a report on the inflow into and payments from the non-oil excess revenue account for the period January 2020 to October 2023, which was signed by sub-committee chairman, Kabir Mashi, on December 14, 2023.
Mashi, who was once an acting Chairman of the Federal Inland Revenue Service (FIRS) is also a Federal Commissioner of the Revenue Mobilization and Fiscal Allocations Commission (RMAFC), representing Katsina State.
The genesis of this report can be traced back to a FAAC Plenary meeting held in September 2023. During this meeting, members raised alarms over the substantial deductions from the Non-Oil Excess Revenue Account, prompting a deeper investigation.
These concerns were primarily centred around the large sums being borrowed by the Federal Government. The sub-committee further wrote to the Office of the Accountant-General of the Federation (OAGF) to provide some information as it examined the Non-Oil Excess Revenue Account Ledge.
FG made N864.16 billion in deductions
The loan taken for the 2023 general elections makes up about 26% of the total deductions between January 2020 to October 2023, according to the sub-committee.
There were other deductions made for different purposes, such as a refund of gas flared penalty to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The findings of the sub-committee read:
- “That the total inflow into the Non-oil Excess Account for the period January 2020 to October 2023 was N2,607,067,427,659.48;
- “That the total amount distributed to the three tiers of Government was the sum of N1,035,298,000,000.00 in the period under review;
- “Total deductions from the Account for other purposes amounted to N846,159,187,753.64 in the period under review;
- “That the sum of N20,009,001,423.57 was deducted as Refund of Gas Flared penalty to NMDPRA;
- “That the sum of N20 billion was transferred to the 20% of the Amount due to States on ECA withdrawals Account;
- “That the sum of N136,571,812,718.58 was used for Refund of PAYE to States and the sum of N31,311,515,329.52 for FCT respectively;
- “That FGN borrowed the sum of N41,844,164,400.00 for the payment of final Settlement of Ground Rent Liabilities;
- “That FGN borrowed the sum of N227,998,501,190.36 for the funding of 2023 General Elections;
- “That amount borrowed by FGN for Payment of Contingencies to the Office of the National Security Adviser was N2,750,000,000.00;
- “That the sum N28,608,118,834.81 was deducted from the Account to Refund Paris Club Loan Deduction from SRA of FCTA;
- “That the difference between Foreign taxes figures on Component Statement and Actual was deducted from the Non-Oil Account to the tune of N73,066,073,856.80;
- “The sum of N30,000,000,000.00 was deducted from the Account for refund to CISS being amount borrowed for FIRS’s Priority Projects;
- “That there was no record that the amounts borrowed by FGN were paid back.”
In its recommendations, the Sub-Committee recommends that the total deductions of N864.16 billion for other purposes should be refunded back to the account.
It also stressed that further deductions from the account should be in line with the vertical revenue allocation formula.
The recommendation for the Federal Government to refund the borrowed funds is a significant step towards ensuring transparency and accountability in the management of Nigeria’s financial resources.
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While there seems to be no known specific information available about the creation of a non-oil revenue account in Nigeria, its concept appears to parallel the structure of the Excess Crude Account (ECA).
Established in 2004 by then-President Olusegun Obasanjo, the ECA functions as a natural resource fund, primarily serving as a fiscal buffer during economic downturns.
The ECA accumulates revenues exceeding the benchmark crude oil price set in the national budget, providing a savings mechanism for the country.
In a similar vein, it is conceivable that the non-oil revenue account operates on a parallel framework, wherein surplus revenues from non-oil sources are earmarked for savings.
Notably, the Federal Government’s approach to withdrawing from these accounts has occasionally deviated from the standard vertical revenue allocation formula outlined by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).
This formula currently allocates 52.68% of revenue to the Federal Government, 26.72% to states, 20.60% to local governments, and 13% for derivation.
The Federal Government’s deductions from the non-oil revenue account, often contrary to RMAFC stipulations, highlight ongoing challenges in adhering to established fiscal management protocols.
Also, efforts to revise the revenue allocation formula under the previous administration of Muhammadu Buhari led RMAFC to propose a new distribution: 45.17% for the Federal Government, 29.79% for states, and 21.04% for local governments.
This proposal represented a shift in resource allocation, reducing the Federal Government’s share by 3.33%, while increasing the states’ and local governments’ shares by 3.07% and 0.44%, respectively.
However, akin to prior attempts to revise this formula, the proposal was not approved. There appears to be no immediate prospect of such a revision under the current administration, reflecting a continuity in the status quo of revenue allocation in Nigeria.
[Nairametrics]
The most recent data provided by the International Air Transport Association (IATA) revealed that the 2024 Henley Passport Index positions the Nigerian passport at 95th globally.
This ranking is determined by the count of destinations that Nigerian passport holders can visit without the requirement of obtaining a prior visa.
The index assesses the visa-free access of 199 distinct passports to a total of 227 travel destinations. A passport is assigned a score of 1 if no visa is required to enter a particular destination.
According to the report, individuals holding Nigerian passports are obligated to obtain visas for 181 destinations.
Notably, the Nigerian passport is positioned lower than its West African counterparts, with Ghana, Benin, and Togo securing ranks of 76th, 79th, and 83rd, respectively.
In comparison, South Africa holds the 53rd spot globally, allowing its passport holders to travel to 108 destinations without the need for a visa.
Japan, previously ranked second, has now secured the top spot on the list, with its passport holders enjoying visa-free access to 194 countries.
Singapore, France, Germany, Italy, and Spain are joining Japan in possessing the world’s most powerful passports.
[NaijaNews]
The Sultan of Sokoto and President General of the Nigeria Supreme Council for Islamic Affairs, NSCIA, Alhaji Sa’ad Abubakar, has directed Muslim Ummah to watch for the new Moon of Rajab 1445 AH starting on Friday.
The Chairman of the Advisory Committee on Religious Affairs, Sultanate Council Sokoto, Prof Sambo Janaidu announced in a statement on Thursday.
The statement reads, “This is to inform the Muslim Ummah that Friday, Jan. 12, equivalent to the 29th day of Jumada-Assani 1445 AH, shall be the day to search for the new moon of Rajab 1445 AH.
“Muslims are requested to commence the search on Friday and report its sighting to the nearest District or Village Head for communication to the Sultan,” it said.
The Sultan extended his prayers, seeking Allah’s assistance for all Muslims in fulfilling their religious duties.
DAILY POST reports that Rajab, the seventh month in the Islamic calendar, is considered one of the four sacred months in Islam during which battles are prohibited.
[DailyPost]
The National Youth Service Corps (NYSC) has explained why it made the National Identification Number (NIN) mandatory for registration for national service.
The Scheme said the NIN would be used to mobilise corps members for the 2024 service.
It insisted that prospective corps members without the number would not be mobilized for national service.
The organization said it took the decision during the meeting of NYSC management led by the Director-General, Brigadier General Yusha’u Ahmed with the management of the National Identification Management Commission, led by its director-general, Abisoye Coker-Odusote in Abuja.
In a statement by the Director of Press and Public Relations, Eddy Megwa the NYSC said: “Starting from the 2024 Mobilisation Exercise, all the eligible Prospective Corps Members are expected to register for Mobilisation with their National Identification Numbers (NIN).
“This was part of the deliberations during the meeting of NYSC Management led by the Director General, Brigadier General YD Ahmed with the Management of National Identification Management Commission, led by its Director General, Engr Abisoye Coker-Odusote in Abuja today.
“The NYSC Director General, Brigadier General YD Ahmed said the collaboration with NIMC on Corps Mobilisation would strengthen the online registration process for the Scheme.
“He added that the NYSC Integrated system that was introduced in 2014 has tremendously assisted the Scheme in its mobilization process, but there is a need for improvement.”
Coker-Odusote promised the readiness of the commission for the collaboration between both agencies.
She lauded the NYSC mobilization protocols and the Scheme’s efforts towards molding corps members for leadership responsibilities for over fifty years of its operations.
The NIMC boss said the synergy will simplify the entire mobilization process and also address multiple issues.
She added that the commission has partnered with several government agencies while promising to present the best services to the nation.
[TheNation]
President Bola Tinubu is currently meeting with Governor Simi Fubara of Rivers State at the Presidential Villa in Abuja.
The governor arrived at the Presidential Villa about 5:35 p.m. and proceeded straight to the president’s office.
Unlike the last time he came to the State House with a delegation of his loyalists during the peace meeting with his estranged political godfather and Minister of the Federal Capital Territory, FCT, Nyesom Wike, and the President, the governor came alone today.
Although the agenda of his visit was not made public at the time of filing this report, it may not be unconnected with the political crisis between the governor and the FCT Minister over the control of the Peoples Democratic Party, PDP, structure in Rivers State.
The 2023 presidential candidate of the Labour Party , Mr Peter Obi says President Bola Tinubu must ensure that those culpable in the alleged scandal involving the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu are brought to book.
Obi said in a write-up in his X-handle platform on Thursday that the government should go beyond the suspension of the minister, which he described as a welcomed development, and carry out a comprehensive investigation into the matter.
According to him, the government must give the problem of public sector corruption the severe urgency it deserves.
Obi expressed disappointment that a ministry created in good faith to attend to the plight of the suffering masses was being turned into a conduit pipe to steal from the poor as seen in the current and previous ministers of the ministry.
“I like to add my voice with most Nigerians concerned about accountability in government and judicious use of public funds, to welcome the suspension of Edu, and subsequent directives for her investigation.
“The investigation must be comprehensive so that all those culpable are brought to book,” Obi, a former two-term Anambra governor said.
Cautioning against taking the issue lightly, Obi added that the suspension of the minister should not be a window-dressing action but should be a peg to get at all those who are deserving of blame, punished just like the minister.
“By a sad coincidence, the alleged fraudulent diversion of N585 million of public money by Edu broke almost at the same moment that the minister who held the same portfolio in the last administration is being investigated for a whopping N37 billion misappropriation.
“The ministry may have been created by the system as a conduit pipe to siphon public funds while using the poor as a face.
“Equally worrisome and disgusting is the fact that the missing funds are meant for poverty alleviation in a time of severe suffering among the people.
“Unfortunately, the ruling elites can shamelessly convert, divert, or misappropriate such huge sums meant for the poor and cannot be trusted to address the severe poverty ravaging the people.
“It is not only immoral but also insensitive for those entrusted with funds for public welfare to steal from the poor,” the Labour Party leader said.
Obi called on the Tinubu administration to use these cases to initiate a thorough system-wide and systematic investigation of all reported cases of fraud and corruption among high government officials in the country.
The News Agency of Nigeria (NAN) recalls that President Tinubu on Monday, suspended Edu, following controversies about financial transactions she authorised in her ministry.
The suspension according to a statement by presidential spokesperson Ajuri Ngelale was with immediate effect.
The scandal included the approval of payment of hundreds of millions of naira into private accounts of civil servants.
Edu had come under criticism from Nigerians for ordering the transfer of N585.2 million into the private bank account of a civil servant, who is the accountant in charge of grants for Vulnerable Nigerians.
The minister had issued a memo to the Accountant General of the Federation in December 2023, ordering the said amount to be paid into the civil servant’s private bank account.(NAN)
The President-General of Ohanaeze Ndigbo, Chief Emmanuel Iwuanyanwu, has asked President Bola Tinubu to focus on creating a true federal constitution and restructuring of Nigeria.
Iwuanyanwu made this appeal in an interview with Arise Television on Wednesday.
According to him, the peace committee he set up by Ndigbo was intended to clear up the misunderstandings and curb the alleged unfair treatments that other Nigerian tribes show towards Igbo people.
On the need for a federal constitution, Iwuanyanwu said, “That particular government before independence, they had a constitution, a true federal constitution. A constitution that could actually apply and bring, without a lot of strain, to a people who have diverse background like Nigeria. We had a true federal constitution in 1960,1963, and that worked for us.
“Later on, they changed to military constitution which is not right. Now, that is why we in Igbo land, we are saying, please, let us have a true federal constitution. What we are operating today is a unitary government. It doesn’t work with a people who have diverse backgrounds.
“I believe that the government of Bola Ahmed Tinubu should take steps to see if we can actualise this restructuring of Nigeria. Without a proper restructuring, Nigeria will continue to have problem, there is no way this country can survive. Today, everybody is talking about presidency. In a restructured Nigeria, the presidency will not attract so much attention as it does today,” he said.
Speaking on alleged animosity displayed towards Igbos, Iwuanyanwu said since the recent Presidential elections, there had been unfair treatments towards Igbos.
He said, “Suddenly after the elections, Igbo buildings were being demolished in various places with excuses. I have investigated the demolitions in Lagos with example, and it is very clear to me that some of them didn’t follow the process of law of any civilised society.”
On the peace committee that has been set up to clear the prejudice between the Ndigbo and the rest of Nigerians, he said, “We’re going to produce our own story about the events in Nigeria from 1966. We’re going to produce a book which we are going to keep in Nigeria for posterity, to know the position of Igbos.
“Because today, a young Northerner, for example, will think Igbos hate Northerners by killing two great leaders from the North, it’s not true. But when we put our story, this community will put up a story, it will be clear position is.”
According to Iwuanyanwu, the committee is also set to contact the heads of other ethnic groups to find out their misgivings and fallouts with Ndigbo, so that peace can be brokered between the Igbos and the ethnic groups in Nigeria if there were any problems.
Eleven newly appointed Supreme Court justices will be sworn in next week, completing the full quota of 21 justices provided for in the Constitution.
The new apex court judges, whose appointment was initiated by President Bola Tinubu and confirmed by the Senate in December 2023, hail from diverse geopolitical zones.
They Include:
North Central:
– Hon. Justice Jummai Hannatu Sankey, OFR
– Hon. Justice Stephen Jonah Adah
– Hon. Justice Mohammed Baba Idris
North East:
– Hon. Justice Haruna Simon Tsammani
North West:
– Hon. Justice Jamilu Yammama Tukur
– Hon. Justice Abubakar Sadiq Umar
South East:
– Hon. Justice Chidiebere Nwaoma Uwa
– Hon. Justice Chioma Egondu Nwosu-Iheme
– Hon. Justice Obande Festus Ogbuinya
South South:
– Hon. Justice Moore Aseimo A. Adumein
South West:
– Hon. Justice Habeeb Adewale O. Abiru
The swearing-in ceremony slated for next week will see the Supreme Court bench attain its full complement as stipulated in the constitution.
The Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday, charged the newly appointed Chief Executive Officers (CEOs) and directors of the aviation agencies to optimally carry out their duties in the best possible way as outlined in the ministry’s key performance indicators.
He also told the CEOs and directors to resign if their goal in office is to make money and not serve the Nigerian people.
Keyamo stated this during the official induction ceremony for the newly appointed aviation heads of agencies in Abuja, the nation’s capital.
He said some of the key performance indicators of the ministry include ensuring strict compliance with safety regulations, supporting the growth of local airlines/operators, developing human capacity within the aviation industry and generating revenue for the Federal Government, amongst others
He reminded them of the financial policy of the government and advised them to strictly adhere to it and carefully scrutinise documents most especially ones that relate to finances.
Mid December, the Federal Government dismissed all directors of civil aviation agencies in the country following the sacking of the chief executive officers of the same organisations. The government also appointed new CEOs to head the agencies.
The affected agencies include the Federal Airport Authority of Nigeria (FAAN), Nigeria Metrological Agency (NiMET), Nigeria Airspace Management Agency (NAMA), Nigeria Civil Aviation Authority (NCAA) and the Nigeria Safety and Investigation Bureau (NSIB).
The Supreme Court has affirmed the election of Umo Eno of the Peoples Democratic Party (PDP) as the validly elected governor of Akwa Ibom State after dismissing the appeals of the three parties challenging the outcome of the election held on March 18 2023.
This comes after the apex court panel led by Justice Uwani Abba-Aji dismissed the appeals of the All Progressives Congress (APC), Young Progressives Party (YPP) and the Action Alliance (AC) based on the non-qualification of the governor over allegations of certificate forgery, which the governor denied.
The Court of Appeal had upheld the judgment dismissing the suit challenging the primary that produced Umo Eno as the PDP candidate for the state.
Okon had prayed the court to disqualify Eno on grounds that he allegedly forged a West African Examination Certificate (WAEC) which he submitted to the Independent National Electoral Commission (INEC) for the election.
The appellate court had dismissed the suit for want of merit and awarded the sum of 15 million naira against the plaintiff.
The judge ruled that Okon’s arguments were based on assumption and that he was unable to prove to the court that Eno’s certificates were forged.
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Former Minister of Power and Steel, Olu Agunloye, has been granted bail in the sum of N50 million.
New Telegraph had earlier reported that the Economic and Financial Crimes Commission (EFCC) is investigating Agunloye over the $6 billion Mambilla Hydropower Contract.
Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court Apo ordered Agunloye, who was charged with seven counts related to the fraudulent award of a contract and official corruption, to be remanded in Kuje Correctional Centre, until the bail application was heard and ruled upon.
However, during the hearing on Thursday, the Counsel for the former minister, Adeola Adedipe, requested that the court grant bail to his client either through self-recognisance or under lenient conditions.
Adedipe argued that Agunloye is not a flight risk and that the prosecution’s concerns were based on misunderstandings and communication issues.
Adedipe further requested that the court refrain from requiring a public servant to act as surety for his client.
The experienced attorney also contended that the misconceptions and concerns surrounding bail, as well as the arguments put forth by the prosecution, have been addressed by Section 352(4) of the Administration of Criminal Justice Act (ACJA).
According to Adeola, this provision states that “once a defendant is granted bail, even if they flee, the trial will proceed, and they will be convicted if necessary.”
However, the prosecution counsel objected to the bail application.
In delivering the verdict, Justice Onwuegbuzie stated that the court leans towards granting bail to the defendant.
The defendant was granted bail of N50 million and was instructed to provide two sureties who could match the same sum.
These sureties must be individuals of good reputation and financial means, residing within the FCT. They must possess properties valued at N300 million, with a verifiable Certificate of Occupancy.
Additionally, they are required to submit copies of their identification cards and photocopies of their international passports to the court.
The defendant must surrender his passport to the court and be present for all hearings. The case has been adjourned until February 12.
Amid the ongoing corruption allegation rocking the President Bola Tinubu led government, former Bayelsa senator, Ben Murray Bruce has revealed that Nigeria has a perception challenge.
Making this revelation in a tweet via his official X account on Thursday, the former Bayelsa senator revealed that there was a problem with the way we see ourselves as Nigerians.
Naija News reports that the former lawmaker called for the need to introduce a mind changing program to counter every negative thoughts of Nigeria in the mind of Nigerians.
He further tasked the federal government to fund the National Orientation Agency to enable them steer the country in the direction it needs.
Ben Bruce said, “Nigeria has a perception challenge. How we see ourselves is an issue. How others see us is also not ideal. And to fix that, we need to change our perception of ourselves. The last time this was done effectively was under Jerry Gana’s MAMSER.
“We need that mind changing program back. We must counter every negative thought about Nigeria in the minds of Nigerians with positive, patriotic, enlightening and wholesome thinking.
“This is where the National Orientation Agency comes in. Let’s fund them and set them in the direction this country needs them to go. Because, without that, I fear we may not grow. A well funded and led NOA will create a mental shift that will lead to an economic, social and moral revival in Nigeria.”
The Defence Headquarters (DHQ) on Thursday described terrorists and their leaders as “dead men walking”, saying “we will stop at nothing until they are dead or surrender”.
The Director of Defence Media Operations, Major General Edward Buba, made the declaration at the regular operational briefing on troops’ exploits across the six geo-political zones of the country.
While assuring of troops’ capacity to sustain “aggressive posturing” across the theatres of operation, the operations’ spokesperson appealed for continuous public support and cooperation, noting that the fight against insecurity had assumed a whole-of-society dimension.
Providing perspectives on ongoing operations, Gen. Buba said: “Our operations clearly indicate that we are hunting the terrorist commanders and their senior leadership. Indeed, from their topmost leadership to the lowest commanders are dead men walking and we will stop at nothing until they are dead or surrender.
“The armed forces have demonstrated commitment by our actions to winning this war. Troops will therefore continue to act with tremendous force to achieve the task ahead.
“The aim of our ongoing operations remains unchanged and clear even in the new year 2024. Our aim is to find and destroy the terrorist wherever they may be hiding in order to ensure their enduring defeat. This would deny the terrorist the ability to terrorize or hurt citizens across the country.
“Pursuant to our goal, troops have in the last one week, focussed on striking the terrorist enclaves from our air attacks. We also exerted significant military power in areas in which the terrorists were hibernating.
“Our operations resulted in 86 neutralized terrorists with 101 of them arrested. Troops also arrested 30 perpetrators of oil theft and rescued 21 kidnapped hostages. In the SS, troops denied oil theft of the estimated sum of Seven Hundred and Thirty-Six Million One Hundred and Fifteen Thousand Four Hundred and Seventy Naira (N736,115,470.00) only.4.
“Furthermore, troops recovered 111 assorted weapons and 1,124 assorted ammunition. The breakdown is as follows: 65 AK47 rifles, one HK G3 dun, one G3 rifle, 8 locally fabricated guns, 15 Dane guns, 2 fabricated rifles, one locally made pistol, one english pistol, one pump action gun, 2 auto pump action gun, 2 single barrel guns”.
Others are 14 rounds of 7.62mm NATO, 993 rounds of 7.62mm special ammo, 5 rounds of 7.62 x 39mm ammo, 5 rounds of 7.62mm x 39mm, 99 live cartridges, one round of 9mm ammo, one of short gun cartridge, 2 bandoliers, 2 fabricated swords, 13 magazines, 5 vehicles, 29 motorcycles, 6 bicycles, mobile phones and one GTA radio amongst other items.
He added thus: “Troops in the Niger Delta area discovered and destroyed 37 dugout pits, 65 boats, 71 storage tanks, 14 vehicles. Other items recovered include 108 cooking ovens, 4 pump machines, one speedboat and 60 illegal refining sites. Troops recovered 1,013,530 litres of stolen crude oil, 299,169 litres of illegally refined AGO and 3,158 litres of DPK”.
Zenith Bank Plc has denied the alleged arrest of its Group Managing Director/Chief Executive Officer, Dr. Ebenezer Onyeagwu, by the Economic and Financial Crimes Commission over the alleged fraud by the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, and her predecessor, Sadiya Farouq.
The lender was reportedly named as one of the banks that their MDs/CEOs were summoned in connection with the alleged N585m fraud linked to the embattled minister, Edu, and another N37.1bn allegedly laundered under Farouq.
Jaiz Bank Plc and Providus Bank Chief Executives were allegedly roped in the scandal and invited by the anti-graft agency.
But Zenith Bank in a filing to regulators and other stakeholders denied any wrongdoing and involvement in the alleged fraud.
However, the bank did not state the extent of its relationship with the Humanitarian Affairs Ministry.
Zenith Bank said, “We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, was arrested and held by the EFCC on January 9, 2024, in connection with an alleged fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.
“We wish to clarify that these reports are entirely false. The Group Managing Director was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his duties at the bank.
“We are issuing this public statement to dispel the misinformation and ensure that the public and our stakeholders are accurately informed.”
THE WHISTLER had reported that Jaiz Bank also denied involvement in any suspicious project or deal with the ministry, saying that the project account opened by the ministry was not funded.
A statement from Jaiz Bank suggests that the Humanitarian Ministry in October 2023 selected some financial institutions as participating financial institutions for the various intervention programs of the Federal Government of Nigeria.