Peter Obi, former presidential candidate of the Labour Party in the 2023 election, has condemned the federal government for operating multiple budgets concurrently.
In a post on X on Saturday, Obi said this is a blatant disregard for fiscal responsibility, transparency, and accountability.
Currently, the federal government is operating the 2023 budget, 2023 supplementary budget, and the 2024 budget — and on May 29, President Bola Tinubu said the 2024 supplementary appropriation bill would soon be presented before the national assembly.
According to Obi, this action by the federal government is also a recipe for chaos, confusion, and catastrophe.
“All available evidence has confirmed that the Nigerian government is implementing four national budgets concurrently,” he said.
“This is in blatant disregard for fiscal responsibility, transparency, and accountability. It is also a recipe for chaos, confusion, and catastrophe.
“This intentionally reckless action will lead to frivolous items in the approved budgets competing with essential projects for limited resources, further exacerbating the suffering of the Nigerian people.”
Obi said Nigerian leaders are disconnected from reality and lack the competence to manage the nation’s finances effectively.
“It indicates that the leaders are out of touch with reality and lack the competence to manage our nation’s finances effectively,” he said.
“Unfortunately, this deliberate act of fiscal recklessness is being undertaken by elected representatives of the people, thereby betraying one of the cardinal pillars of democracy. Leaders are elected to responsibly manage public resources in an organized way.
“I respectfully appeal and in fact, demand that this situation be reversed immediately in preference for a more responsible and transparent approach to budgeting. We must prioritize the needs of the Nigerian people, not the selfish interests of a few. This is a call to action for all Leaders to desist from actions that will further drive the country into economic chaos.”
The former presidential candidate added that neither the national assembly nor the executive has any excuse to promote or condone such unconscionable behaviour.
BudgIT, a civic-tech organisation, has also condemned plans by the federal government to implement four national budgets concurrently.
In a statement issued on Friday by Gabriel Okeowo, BudgIT’s country director, the organisation described the situation as a worrisome development.
He pointed out that globally, budgets are typically prepared to cover 12 calendar months, from January to December.
Okeowo warned that if multiple budgets are implemented simultaneously, projects from the 2023 budget and the 2023 supplementary budget will compete for the limited resources available to the federal government with essential projects in the 2024 budget.
A Panamanian court has acquitted all 28 people standing trial for money laundering as a result of the Panama Papers scandal.
Leaked in 2016, the secret financial documents showed how some of the world’s richest and most powerful people used tax havens to hide their wealth.
The BBC reports that Jurgen Mossack and the late Ramon Fonseca, founder of Mossack Fonseca, the defunct law firm at the center of the scandal, were among those cleared by the court.
Prosecutors in the case argued that the Mossack Fonseca law firm and their associates created a web of offshore companies to hide money linked to illegal activities in the ‘car wash’ corruption scandal.
‘Operation Car Wash’ was a money-laundering investigation into Petrobras, Brazil’s state-run oil company.
But Mossack and Fonseca denied that they, their firm, or their employees had acted illegally.
Prosecutors had been seeking maximum prison sentences for the duo before Fonseca died in May.
However, closing out the case, which started in April, on Friday, the judge dropped all criminal charges against all 28 defendants.
Baloisa Marquinez, the presiding judge, said the evidence considered by the court was “not sufficient” to determine the criminal responsibility of the defendants.
The Panama Papers, considered the biggest data leak in history, were the product of a year-long investigation by the International Consortium of Investigative Journalists (ICIJ), German newspaper Süddeutsche Zeitung, and over 100 news organisations.
The leak saw 11 million documents released to the German newspaper Süddeutsche Zeitung and over 100 news organisations.
Russian President Vladimir Putin’s associates were said to have “secretly shuffled” about $2 billion through banks and shadow companies.
The Panama Papers scandal also exposed a network of offshore companies linked to people like Xi Jinping, the Chinese leader; Lionel Messi, a soccer star; James Ibori, former governor of Delta; and the son of the late Kofi Annan, former United Nations (UN) secretary-general, to name a few.
The papers referenced 12 current or former world leaders, as well as 128 other politicians and public officials.
Gerard Ryle, ICIJ’s executive director, said the enduring impact of the investigation persists even though the court did not hold the defendants accountable.
‘You Should Be In Jail’ - Nigerians Knock Senator Oyewumi Who Admits Buying Votes During Last General Elections
AFOLABI
Olalere Oyewumi, a federal lawmaker from Osun State, who is a Peoples Democratic Party (PDP) senator, has admitted that he bought votes during the 2023 general elections.
Vote buying and selling was rampant during the last elections, which affected the credibility of the polls conducted by the Independent National Electoral Commission (INEC).
The Economic and Financial Crimes Commission (EFCC) had also deployed its officials in some polling units.
In a viral video, Oyewunmi, who is the Deputy Minority Senate Leader, narrated how he sent his aide on an errand on the eve of the election with his personal money for vote buying but was rejected by strong supporters of the All Progressives Congress (APC).
Speaking in Yoruba, the Minority Leader, who represents Osun West District, said “I tried all the tricks I knew to win at the Onilu House (Ile Onilu) polling unit but these people didn’t allow me.
“After exhausting money for the election, I gave my personal money to Ten-Ten to give to people at night to buy votes on the eve of the election, Ten-Ten came back with my money, saying the people rejected it. I was surprised.
“That was why I reached out to these people because I cannot be a Senator and continue to fail there. I was the one who called Ayandosu from Abuja to join me in the PDP. I told him he has talent and that the party he was serving then (APC) would not allow him to grow.”
Reacting to the development, the leadership of APC through its chairman, Tajudeen Lawal, said the confession had shown that Osun election was not free and fair.
In a statement, Lawal said: “The confessional statement of Senator Oyewumi was a confirmation of the fact that the last series of the elections in the state which secured victory for all the PDP candidates including Governor Ademola Adeleke, were brazenly rigged.
“The self-confession of Senator Oyewumi was an indication that he is a desperate politician who could go to any length to illegally corner opportunities regardless of what such portends to the right-thinking members of the society.
“In a civilised clime, Senator Oyewumi has no iota of reason to remain a minute longer in the Senate where he has been the Minority Leader based on his self-confession that he engaged in vote-buying during the election that secured a fraudulent victory for him.
“By now, Senator Oyewumi should be a guest of the statutory law enforcement agency constitutionally saddled with the responsibility of investigating such political crime involving a senator of the Federal Republic of Nigeria.”
The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has frowned at the reported plot by the Sokoto Government to dethrone the Sultan of Sokoto, Muhammadu Sa’ad Abubakar.
Naija News reports that there has been a series of mixed reactions on and off the media after reports emerged that the Sokoto government, led by Governor Ahmad Aliyu Sokoto, is plotting to dethrone the revered traditional ruler.
In a statement issued in Abuja on Saturday, the National President of MACBAN, Baba Othman-Ngelzarma, warned the government to ‘tread softly’, emphasizing the need for the protection and preservation of the institution of the Sultanate in the country.
Othman-Ngelzarma expressed that the establishment of the Sultanate, which has a history extending back two centuries, should not be manipulated by politicians who were expected to be directing their efforts towards fostering effective governance.
He criticized the supposed indirect attempts to weaken the esteemed Sultan, representing the emblem of Islamic power in Nigeria.
He said, “We believe protecting and preserving the institution of the Sultanate is a cardinal responsibility of every right-thinking personality in the country.
“We call upon the Sokoto State Government, especially the legislature, to tread softly and do all that is necessary to preserve and protect the institution that represents an all-important ideology that created it.
“Miyetti Allah Cattle Breeders Association of Nigeria is worried by the media reports alleging that the Sokoto Government intends to whittle down the powers of his Eminence the Sultan, Alhaji Saad Abubakar III.”
Othman-Ngelzarma said MACBAN stood firmly with the Sultan, adding, “because we believe he deserves better as he has shown the capacity to uphold justice and equity in all his dealings.
“This is evident in his efforts to propagate religious and ethnic tolerance in Nigeria among diverse groups.
“His background as a military man, his resoluteness to speak the truth and his standing for the poor and underprivileged despite being an aristocrat makes him a model for leaders to emulate.”
[NaijaNews]
Murtala Muhammed Airport Terminal 2 (MMA2) in Lagos is set to host the country’s first-ever airport wedding.
The ceremony, which will take place at the MMA2 terminal’s ticketing hall, is set to hold this Saturday, June 29, 2024.
The soon-to-be-married couple, Alli Olamide Miracle and Agboola Abiodun Qudus, will exchange their vows amidst the backdrop of departing and arriving flights, surrounded by their families, friends, and well-wishers.
Dubbed ‘My Airport Wedding,’ the initiative aims not only to celebrate love but also to showcase MMA2 as more than just a terminal for flight operations.
According to Ajoke Yinka-Olawuyi, Head of Corporate Communications at Bi-Courtney Aviation Services Limited (BASL), the event promises to leave a lasting impression on the aviation and entertainment industries.
“We are thrilled to pioneer this unique event at MMA2,” Yinka-Olawuyi remarked. “It’s a testament to our commitment to innovation and creating memorable experiences for our passengers and terminal users.”
The ceremony is expected to draw attention from both local and international audiences, highlighting Nigeria’s growing prominence in the global aviation sector. Attendees, whether physically present or joining virtually through online platforms, are poised to witness a spectacle that blends romance with the dynamic atmosphere of an airport terminal.
“With our slogan ‘More than a terminal’, Bi-Courtney continues to redefine airport experiences,” Yinka-Olawuyi added. “This event underscores our dedication to offering more than just travel convenience.”
LEADERSHIP reports that MMA2 is Nigeria’s first and only privately-funded Airport, operated by Bi-Courtney Aviation Services Limited.
[Leadership]
No fewer than 47 suspects have been arrested by troops of 1 Division Nigerian Army Kaduna for allegedly vandalizing rail tracks.
In a statement posted on its official X handle on Saturday, the Nigerian Army Headquarters said the operation was carried out on June 26, 2024, during a routine patrol along Kakau Daji- Anguwan Ayaba.
The statement said the suspects, who had loaded two trucks with the vandalized rail tracks prior to their arrest, alleged that they were employed by one Alhaji Babawo.
According to the suspects, Alhaji Babawo who is currently at large, was to load the vandalized rail tracks and off-load them in a nearby bush along the road.
Parading the criminal elements during profiling at 312 Artillery Regiment Kaduna, the Acting Commander 1 Division Provost Group, Lt Col IY Rena stated that the suspects were profiled to ascertain their level of involvement during the preliminary investigation.
He further stated that the suspects were also individually interviewed and cross-examined while efforts were being made to arrest the gang leader who is on the run.
Lt Col Rena revealed that, on a visit to the crime scene, some of the vandalized rail tracks were found concealed in the nearby bushes waiting to be evacuated by the criminal syndicates.
The suspects were later handed over to the Authorities of the Nigeria Railway Corporation, Kaduna Station for further investigation and prosecution.
[DailyPost]
Aviation Securities at the Lagos Airport have handed over a 29-year-old passenger, Ayemobola Mojadesola, and her mother to the police for allegedly conducting themselves in an unruly manner.
The arrested passengers were said to have inflicted a bodily injury on a staff member, (name withheld) of the Lagos airport.
It was gathered that the passenger had earlier lent a pen from the aviation worker but an argument ensued when the staff member later asked for the pen.
Eyewitnesses said the short argument became aggravated and both Mojadesola and her mother pounced on the aviation worker, injuring her in the face close to her eye socket.
The passengers were also accused of destroying two laptops during the fracas.
In a post on X on Saturday, the publicist of the Nigeria Civil Aviation Authority, Michael Achimugu, appealed to passengers to desist from unruly behaviours, advising them to always report all issues to NCAA officers instead of going violent.
Achimugu explained that “Because she was asked to return a borrowed pen, a passenger named Ayemobola Mojadesola (born 1995) and her mother attacked an airport official, causing facial injuries and destroying two laptops in the process.
“She was arrested by AVSEC and had to buy replacement laptops and offered N50,000 cash for medical treatment of the injured staff. I must reiterate that unruly behaviour and destruction of airport equipment will not be tolerated.
“Always refer to them if you are not satisfied with the service rendered by operators. The airline offloaded the passenger for unruly behaviour and she was taken by AVSEC to Tango City before being handed over to the Nigeria Police Force.”
Achimugu further stated that Aviation equipment and staffers at every airport are there to facilitate safe and secure travel.
“They are not punching bags. I urge aggravated passengers to always seek the assistance of the NCAA Consumer Protection Officers at the terminals. They are there to help you,” he added.
[Punch]
Vice-President Kashim Shettima says Nigeria’s economy is experiencing turbulence but it is not limited to the country.
Shettima spoke at a one-day town hall meeting organised by the Presidential Enabling Business Environment Council (PEBEC) held in Abuja on Friday.
Outlining the achievements of President Bola Tinubu when he was the governor of Lagos state, Shettima said the country needs to be fair to him.
“This is a man we need to rally round and support. Yes, our economy is going through turbulence but is it confined to Nigeria alone? Let’s take a global picture,” he said.
“Is any economy immune from the challenges of the times? So, I ask you to be fair to this poor man.
“There is no doubt that every thriving economy grows from the quality of reforms adopted to offer the people avenues to translate their business ideas into formidable enterprises.”
Speaking further, Shettima said PEBEC is an enabler for the ministries, departments and agencies (MDAs).
“Our role requires a unified and collaborative effort across the councils and MDAs and we can not afford to look away,” he said.
“The long-term success of PEBEC hinges on our ability to institutionalise reforms capabilities, foster deep collaboration across government and maintain a commitment to continuous improvements.”
He said the current reforms must become ingrained in public institutions.
“By doing so, we kept the way for sustained progress and lasting impact that would outlive us all, creating a better Nigeria for our children and their children afterwards,” Shettima said.
He said the government must be driven by every citizen who aspires to grow businesses and who looks to the government for prosperity.
According to the vice-president, these are peculiar times for developing solutions to improve the ease of doing business.
Shettima said Nigeria is the future of Africa and the burden is not only on leaders but on everyone to achieve set goals.
‘TINUBU CAPABLE TO LEAD NIGERIANS’
On May 29, Tinubu missed his steps and fell while climbing the parade vehicle at Eagle Square in Abuja.
Speaking on the issue, Shettima expressed disappointment in those who took a jab at the president’s health status due to the incident.
“We are not asking you not to question the eligibility of your president’s condition. But there is this mischievous vexation about the president’s health status,” Shettima said.
“We are not preparing for the Olympics, but an institution that builds on the superiority of ideas. But I dare to put it to you. The hallmark of true leadership is not the ability to lift a bag of cement, but the capacity to come up with robust ideas to solve a nation’s problems.”
The International Monetary Fund (IMF) has agreed to disburse $360 million to Ghana as part of its $3 billion loan arrangement.
In a statement on Friday, the IMF said the new tranche increases the country’s total receipts from the Washington-based lender to about $1.6 billion since signing up to the $3 billion three-year programme in May 2023.
“The Executive Board of the International Monetary Fund (IMF) completed today the second review of Ghana’s US$3 billion, 36-month Extended Credit Facility (ECF) Arrangement, which was approved by the Board in May 2023,” IMF said.
“Completion of the second ECF review allows for an immediate disbursement of SDR 269.1 million (about US$360 million), bringing Ghana’s total disbursements under the arrangement to about US$1.6 billion.
“Ghana’s economic reform program is delivering on its objectives.”
Following acute economic and financial pressures in 2022, the IMF said the fund-supported programme served as a credible anchor for the government to adjust macroeconomic policies.
The Bretton Woods institution said it has also propelled the implementation of reforms to restore macroeconomic stability and debt sustainability while laying the foundations for higher and more inclusive growth.
“These efforts are paying off, with growth proving more resilient than initially expected, inflation declining at a faster pace, and the fiscal and external positions improving,” IMF said.
“The medium-term outlook remains favorable but subject to downside risks—including those related to the upcoming general elections
“Ghana’s performance under the IMF-supported program has been generally strong. All quantitative performance criteria for the second review and almost all indicative targets were met. Good progress has also been made on the key structural reform milestones, despite some delays.”
The Ghanaian authorities, IMF said, have also continued to make progress on their comprehensive debt restructuring.
In January, Ghana got a moratorium with official creditors on debt payments through May 2026, negotiating a deal with Eurobond investors to restructure $13 billion debt by the end of March.
Police have arrested a woman after footage emerged of a female prison officer having sex with an inmate in an HMP Wandsworth jail cell.
The suspect was taken into custody yesterday on suspicion of misconduct in public office.
The video shows a prison officer engaging in sexual acts with an unidentified prisoner at the Category A jail in south-west London. The woman is seen wearing her uniform during the explicit encounter.
I am happy and grateful that God created me this way - Joshua Akugbe, visual artist born...
The footage, believed to be recent, depicts the officer first performing a sex act on the prisoner before having intercourse with him.
The incident was reportedly filmed by the inmate’s cellmate using a mobile phone. The cell’s interior is visible in the video, showing a TV and piles of clothes on a bunk bed.
Ian Acheson, a former prison governor, commented on the security implications of the incident: “If this footage is authentic, and I’ve been assured it is, the problems confronting a likely new Labour administration go far beyond overcrowding.”
The case has raised serious concerns about security protocols and staff conduct within the prison system.
[Vanguard]
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Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says Nigeria can generate more revenue without raising taxes and avoid hurting the economy.
In an interview with Politics Today on Channels TV on Friday, Oyedele said the right way to go is not to introduce more taxes.
According to Oyedele, with the use of data, intelligence, and technology, Nigeria can close the tax gap by ensuring people who have not been paying taxes begin to pay.
He said the committee think having fewer taxes is broad-based, and easy to collect.
“Certainly, you know the whole idea is that we have done whatever we are doing now for decades, and it hasn’t produced the right result,” Oyedele said.
“We have over 60 different taxes and levies, but we are barely even collecting enough money to fix roads.
“By the way, the entire budget, that’s the Federal Government’s of about N29 trillion plus all the states in Nigeria about N15 trillion – if you add it all, it comes to about N44 trillion. That’s around $30 billion.
“That $30 billion is even less than the budget of Kenya which is around $32 billion. It is barely a quarter of South Africa’s budget at $130 billion. And of course, it’s even less than the budget of New York City, not even just New York State. So, clearly, Nigeria is a poor country with the potential to be a wealthy country.
“So, we do believe based on the analysis we have done and the data available to us that the right way to go is not to introduce more taxes. And in fact, if you’re gonna raise the rates of any tax, it has to be something that we’re doing as a result of the consolidation and harmonisation.
“We do think that having fewer taxes are broad-based, easy to collect, and do not place a burden on the bottom of the ladder of society is the way to go.
“And by using data, intelligence, and technology, we can close the tax gap so that people who have not been paying before begin to pay – who have been identified as people who should be paying – and the poor people should be legitimately exempted, particularly nano, micro businesses and low-income earners.”
Oyedele said the committee believes that with all these, Nigeria can easily more than double its revenue within a period of two to three years.
[TheCable]
The Central Bank of Nigeria (CBN) has released new directives to commercial banks regarding the deposit of foreign currency cash with the apex bank.
In a circular COD/DIR/INT/CIR/001/016 published on the bank’s website, the Director of Currency Operations, Mr. Mohammed Solaja, instructed Deposit Money Banks (DMBs) to submit a written notification to the Central Bank of Nigeria (CBN) at least three working days prior to depositing foreign currency notes, indicating their intention to make such a deposit.
The Central Bank of Nigeria (CBN) has specified that deposits of foreign currency can only be made at its branches in Abuja and Lagos.
It further directed that each bank would be allowed a maximum deposit of $10 million threshold for USD 100 notes and USD 50 notes daily.
‘Products of febrile imagination’ — NNPC disowns allegations of inflated subsidy claims
The CBN said that smaller denominations of $ 20 notes and belows would be at a maximum of $1 million daily.
“British Pound and Euro were also pegged at GBP 1 million and Euro 1 Million per day per DMB,” the CBN said.
According to the circular, each denominations would be in separate boxes and two representatives of a DMB wanting to make.deposits must be present to witness the counting and confirm the amount.
It added that only CBN-registered CIT companies for deposit of foreign currency notes would be allowed to representative the DMBs in the exercise.
The CBN directed that the deposits would take place between 8.00 am and 12 noon and that the selected branches must confirm the deposits same day.
Handling charge, it.said would be at 0.30 percent and would be received from the Current Accounts of DMBs with the CBN.
The bank said that the new guidelines supersede the June 17, 2017 circular referenced: COD/DIR/GEN/CMF/11/094.
The Naira appreciated against the dollar at the foreign exchange market on Friday to end the week on a positive note after nine days of depreciation.
FMDQ data showed that the Naira gained at N1505.30 against the dollar on Friday from N1510.10 traded on Thursday.
This represents an N4.8 gain against the dollar compared to the N1510.10 traded the previous day.
Similarly, the Naira saw a gain and traded N1515 against the dollar at the foreign exchange market on Friday.
This is the first time the Naira has appreciated since June 18, 2024, when it traded at N1482.72 per dollar at the official forex market.
The development comes as Nigeria’s external reserves rose to a record high of $34.07 billion on June 26, 2024.
Seriake Dickson, a senator representing Bayelsa West District in the National Assembly on Friday described those behind oil theft in the Niger Delta as “big players” who reside outside the region.
The Senator, elected on the platform of the Peoples Democratic Party (PDP), made the allegation at Oporoza, headquarters of Gbaramatu Kingdom, Warri South-West Local Government Area of Delta while visiting the Pere of Gbaramatu Kingdom, Oboro-Gbaraun II, Aketepe, Agadagba.
Dickson said although Ijaw youths were tagged to be behind oil theft, they lacked the capacity and technical know-how to understand how pipelines operate.
“Those big players behind the crude oil theft are not from the region but are based in Lagos, Abuja and other parts of the world,” he said.
He explained that the Ijaw people were living in the creeks, earning their daily livelihood on the waterways and farmlands when the alleged thieves polluted the land with their nefarious activities.
“We have no means and no capacity to engage in the high-level operations that result in the daily loss of Nigerian crude oil produced from our place.
“Those who have the capacity to compromise and infiltrate the national security system and infiltrate the national petroleum system; those who have the capacity to hire the tankers and shuttle vessels, they are not Ijaws.
“We do not have the capacity to do that! We do not even have the experience to be involved in that kind of operation,” he said.
The legislator, who is also the state ex-governor, said such high-level operations needed a lot of resources, coordination, funding and international networking.
He, however, urged Nigeria to step up her game in the international arena by pushing for the designation of her stolen crude oil.
“Those who, on a daily basis under declare what is produced; those who have refused to properly monitor and record what is produced for over 50 or 60 years should take the blame.
“It is not the Ijaw youth – harmless people without the capacity and without the technical know-how,” he said.
He, however, commended the traditional ruler for ensuring peace in his kingdom and the entire Niger Delta.
The News Agency of Nigeria (NAN) reports that Dickson also visited Dr Government Ekpemupolo, alias Tompolo, founder of Tantita Security Services Nigeria Limited (TSSNL).
He commended Ekpemupolo for the wonderful job he had been doing with his private security outfit, TSSNL, to boost the nation’s oil revenue and ensure the regeneration of the region’s ecosystem. (NAN)