Federation Account
RMAFC begins review of revenue sharing formula
The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Elias Mbam, has revealed that the commission has completed plans to begin the review of revenue allocation formula. Mbam made this known in Abuja during a courtesy visit to his office by members of the National Assembly Service Commission led by Ahmed Amshi. A press statement titled ‘Review of revenue allocation formula kick starts fully – RMAFC’ issued by the commission’s Public Relations Officer, Nwachukwu Christian, stated that the review of remuneration for political and Judicial office holders will equally commence as soon as the Federal government release fund for it. The statement read, “The Revenue Mobilisation Allocation and Fiscal Commission has concluded arrangements to fully commence the review of the na...
Ekiti APC chieftain: 2022, 2023 elections‘ll be based on personality, not party affiliation
An All Progressives Congress (APC) Chieftain in Ekiti, Mr Demola Popoola, says that the 2022 and 2023 elections will be about personality rather political party affiliation. Popoola stated this in Oye-Ekiti while declaring his intention to contest the governorship primaries of the party in the state. “The next general elections will be based on who the candidate is and not his political party. “Contributions and capacity of aspirants will play a critical role in the polls, but I am determined to bring my wealth of experience to bear in governance of the state, if given the opportunity in 2022. “I will work through my plans to banish poverty from Ekiti through my deliberate and concerted efforts in creating jobs through industrialisation of the state,’’ he said. Popoola, who hails from Oye-...
Senate vows to expose MDAs refusing to account for public funds
President of the Senate, Ahmad Lawan, has said that the upper chamber will publish the names of government agencies that have refused to appear before the Public Accounts Committee to defend the interrogations of the Auditor-General for the Federation in the 2015 report. Lawan made this known in his remarks after the Senate considered the report of the Committee on Public Accounts on the annual report of the Auditor-General for the Federation on the accounts of the Federation for the year ended 31st December, 2015. According to the Senate President, any public official that refuses to account for public funds at their disposal must be shown the way out of office. He said, “This is one of our major responsibilities as a parliament, to hold the executive to account. “[And] whoever is given t...
Remittance: It is impunity for NNPC to ignore extant laws – PDP governors
The Peoples Democratic Party (PDP) Governors Forum, has said it is impunity for the Nigerian National Petroleum Corporation (NNPC) not to remit money to the federation account as stipulated by the constitution. The Forum, in a statement by its Director General, CID Maduabum, stated this in response to criticism by presidential spokesman, Garba Shehu over issues raised in a communique, issued after its recent meeting in Uyo. The opposition governors accused Shehu of cerebrating the non remittance of funds by Nigerian National Petroleum Corporation (NNPC) to the Federation Account because they should not “break the bank” for PDP Governors. They noted that it is the responsibility of the NNPC to remit revenues into the Federation Account, as stipulated in the constitution. “It is a demonstrat...
JUSUN strike: How we decongested our cells – Police
The police in Lagos say they have devised means to decongest their cells amidst the prolonged strike by the Judicial Staff Union of Nigeria (JUSUN). The police spokesperson in the state, Muyiwa Adejobi, told the News Agency of Nigeria (NAN) on Tuesday that the decongestion was carried out in collaboration with the office of the Chief Judge and Attorney-General of the state. NAN reports that JUSUN, on April 6, directed its members to shut down all courts across the country, demanding the implementation of the law granting financial autonomy to the Judiciary. “The command had been managing the situation in collaboration with the office of the state chief judge,” Mr Adejobi said. He, however, did not give the number of suspects that had been granted bail. “We work with the office of the CJ an...
House invites CBN governor on recovered loots
The House of Representatives ad hoc committee investigating the assessment and status of recovered loots has invited the governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to appear before it. The Chairman of the committee, Rep. Adeogun Adejoro, who extended the invitation on Thursday in Abuja said that it was necessary for the committee to know the number of recovered loots and where they were being kept. The Minister of Finance, Hajia Zainab Ahmed had told the committee that she had no idea of the number of accounts being used to keep the recovered loot. She, however, said that the ministry had a record of what had been recovered and the amount that had come into the account. She stated that N50 billion was provided from recovered loot to fund the 2020 budget, adding that the...
NNPC assures will continue to meet financial obligations to FAAC
The Nigerian National Petroleum Corporation (NNPC) has clarified that the revenue projection contained in the letter to the Accountant General of the Federation being cited in the media pertains only to the Federation revenue stream being managed by the Corporation and not a reflection of the overall financial performance of the Corporation. A press release by the Corporation’s spokesman, Dr. Kennie Obateru, stated that the clarification became necessary in the light of media reports insinuating that the Corporation was in financial straits. NNPC maintains that it is conscious of its role and was doing everything possible to shore up revenues and support the Federation at all times. “The shortfall will be remedied by the Corporation as it relates only to the Federation revenue stream being...
Bayelsa: We won’t retrench workforce amid dwindling revenues – official
The Bayelsa state government has assured civil servants in the state that it had no plans to downsize the workforce, amidst dwindling revenue. The government said on Thursday that although it was contending with an unwieldy wage bill, it would seek alternative sources of revenue to shore up its finances. The Commissioner for Finance, Maxwell Ebibai, gave the assurance at the transparency briefing for the months of January and February 2021, in Yenagoa, the state capital. Newsmen report that under the state’s Bayelsa Transparency Law, it had become mandatory for the government to make public its income and expenditures on a monthly basis. Ebibai, said the state government received N6.8 billion for February, 2021, as net receipts from the Federation Account, after first line deductions, as a...
Niger, Labour parley on slash in workers’ salaries ended in deadlock
The parley between officials of the Niger State Government and organised labour over the planned slash in workers’ salaries effective from November, which was held in Minna on Thursday, has ended in a deadlock. The government team was led by the Secretary to the State Government (SSG), Alhaji Ahmed Ibrahim Matane, while the Chairmen of state chapter of the Nigeria Labour Congress (NLC), Yakubu Garba, and Trade Union Congress (TUC), Tanimu Yunusa, led the team for the organised labour. The meeting, newsmen learnt, did not convince representatives of labour on the need to slash workers’ salaries, resulting in both parties leaving the venue without any agreement. It was however gathered that the representatives of organised labour, at the meeting, punctured the claim by the government that it...
Group rejects South-South governors desire to control NDDC
A Niger Delta group, Vanguard for Transparent Leadership and Democracy (VATLAD), has condemned the desire of South-South governors to control the affairs of Niger Delta Development Commission (NDDC). The group described as untrue governors’ claim that their demand for control is borne out of concerned about the rot in the NDDC. In a statement by Comrade Igbini Odafe Emmanuel, national president, the group reminded South South governors that their continued failure to utlilise oil derivation funds and other funds acruing to their states sparked the agitation for the establishment of NDDC, which “will operate independently and without direct or indirect interference or control by our state governors or their agents.” It described as insulting threat by South South governors over NDDC, queryi...
Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus
Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC) says he is optimistic that the corporation will declare dividends in 2020 in spite of the challenges posed by the COVID-19 pandemic. The post Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
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Nigerian National Assembly spends billions of naira on constitution review
The perennial constitution amendment exercise by the National Assembly is characterised by proposals that keep resurfacing despite gulping billions of naira yearly, an analysis has shown. The federal parliament had from the 5th to the current 9th National Assembly made several attempts to amend some provisions of the 1999 Constitution to no avail. At every session, the parliament officially spends N1 billion shared equally between the Senate and the House of Representatives. There are reports that the lawmakers spend more than what is appropriated for the exercise. While some amendments were successful, several others suffered serial failures but kept appearing in new proposals. Considering the huge spending, lawyers and civil society groups have pointed out that no significant amendments ...