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PMS: Reps Shun Masses, Back Tinubu on N617 Price Hike

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PMS Price Hike

By Ubong Ukpong, Abuja

The House of Representatives yesterday supported Tuesday’s hike in the pump price of Premium Motor Spirit (PMS), as it rejected all entreaties to prevent the Federal Government from implementing the new price regime of N617 per litre by voting overwhelmingly in favour of the increase, citing market forces as determinant.

The Green Chamber rejected an amendment motion moved by Rep.

Yampa Zakaria (PDP-Adamawa) asking it to order a suspension of the price increase.

Zakaria had argued that the price hike suspension would enable the House to invite the Chief Executive Officer of Nigeria National Petroleum Company Limited, (NNPCL), Mr Kyari Mele, to appear before it to explain the said increase.

Rep. Shettima Ali (APC-Yobe) seconded Zakaria’s motion, urging that the price hike be reverted pending the appearance of Kyari before the House, but the amendment was rejected.

The amendment sought was based on a motion moved earlier by Rep. Ikenga Ugochinyere (PDP-Imo).

Ugochinyere had noted that Nigerians woke on July 18 to find to their chagrin that petrol price had been increased from N537 a litre to N617 a litre.

He urged the House to constitute an ad-hoc committee to look into the incessant increases in pump prices of petrol by the Nigeria National Petroleum Company Ltd. (NNPCL).

He noted that the price increases had affected transportation and prices of foodstuffs, leaving many Nigerians helpless.

Contributing to debate on the motion, the Deputy Speaker, Rep. Benjamin Kalu, who presided over the plenary, conceded that the motion was prompt.

He, however, defended the move by the NNPCL, arguing that market forces were the factors at play since the removal of fuel subsidy.

Rep. Amobi Ogah (LP-Abia) in his contribution also conceded that market forces determined the price hike.

When the speaker put the amendment motion to a voice vote, members rejected the proposed reversal and ruled in favour of N617 per litre of petrol.

The House also summoned Kyari and his team to explain to the House the rationale behind the increase.

The lawmakers also set up an ad-hoc committee with members drawn from the six geopolitical zones of the country to determine the rationale behind the increase.

Probe 13- Year Remittances to NHF

The House of Representatives yesterday resolved to investigate the non–remittance to the National Housing Fund (NHF) and utilization of the fund from 2011 to date.

This followed the adoption of a motion titled ‘Need to Investigate the Non–Remittance to the National Housing Fund and Utilization of the Fund from 2011 to date’ sponsored at the plenary by Hon. Zakaria Dauda Nyampa.

While adopting the motion, the House resolved to set up an ad-hoc to carry out the investigation and report back for further legislative action.

Presenting the motion, the Lawmaker said “The House notes that National Housing Fund (NHF) is a Federal Government scheme, which entitles all Nigerians above the age of 21 years in paid employment to a low-interest, government-funded loan to developers to provide purpose-built homes that fit the incomes of low-and medium-income

“Aware that the Federal Government set up the scheme in 1992, and all Nigerians above 21 years old and working in the economy’s public, private and informal sectors are eligible to register and participate by contributing 2.5 per cent of their monthly incomes;

“Also aware that the National Housing Fund scheme presents a convenient and cost-effective opportunity for Nigerians, especially those within the low-and medium-income segment.

Read Also: Outrage Greets Fresh PMS Pump Price Increase

“Successive governments in Nigeria had introduced various measures and policies in the last four decades to combat the housing problem in Nigeria as it is believed that a well-articulated housing policy could stimulate economic growth, generate employment, redistribute the population and reduce urban degeneration;

Informed that to facilitate the deductions and remittances of contributions, each employer is expected to be registered.

“The self-employed individuals can, however, collect forms from any branch of FMB nationwide.”

He further added, that “concerned that from an assessment of the performance of National Housing Fund (NHF) in Nigeria carried out by the Central Bank of Nigeria, the analysis of survey returns revealed that one in every five disbursed loans went into default despite the slight improvement of 20.9 percent witnessed in 2014 compared with 23.8 per cent in 2012,

“The rate of loan default witnessed a sharp increase to 45.8 per cent in 2015 and further to 59.6 per cent in 2016. Various reasons were provided for the high default rate experienced by the PMBs, demise of the mortgagor, unwillingness of the customers to repay, nonpayment by an employer and lack of constant follow

upon the mortgagor, amongst others.

“Concerned that there seems to be a gross default in the utilization and remittance of the National

Housing Fund which constitutes an offence under section 20 of the NHF Act.”

He then urged the House to set up an ad-hoc committee to investigate the scheme from 2011 to date which was unanimously supported by other members when it was put into voice vote by the Deputy Speaker, Hon Benjamin Kalu who presided over the plenary.

Ask FG to Lift Embargo on Employment

The House of Representatives has asked President Bola Ahmed Tinubu to lift the embargo on employment in Ministries, Departments and Agencies (MDAs), of the Federal Government.

The House also urged the Federal Civil Service Commission and such relevant bodies to immediately act upon the President’s directive in this regard.

These resolutions followed the adoption of a motion calling on the President to Lift the Embargo on Employment moved by Hon. Francis Ejiroghene Waive during plenary on Wednesday.

Waive noted that the immediate past Administration amid the recession that hit the economy in the country due to the huge drop in the international price of crude oil at the time and Covid 19 pandemic placed an embargo on employment in Federal Ministries, Departments and Agencies of the Federal Government.

He recalled that the Ninth House of Representatives passed a resolution calling on the then President to lift the embargo on employment and that there are reports in social media that the embargo had been lifted but there is no evidence of any employment taking place whatsoever.

The lawmaker expressed worries that for several years there has not been any employment in the Civil Service of the Federation, thereby creating a shortage of manpower, especially in the junior and middle-level cadre as officers are promoted and some retire and others die.

He further stated that some Ministries Departments and Agencies DAs have resorted to engaging casual staff who are paid from their Internally Generated Revenue (IGR) and other sources, while it is sad that these casual staffs are non-pensionable, the act of spending government money without appropriation by the legislature for whatever purpose is illegal.

“The withdrawal of subsidy on petroleum products has increased the hardship of jobless Nigerian youths and appreciates the measures planned by the President to alleviate the suffering of the masses. Lifting of the embargo on employment and going ahead to employ young qualified Nigerians should be a part of Mr. President’s rescue measures as some of the savings from the removal of the subsidy could be used in this direction.

The House however Mandated the Committees on Public Service Matters, Labour and Employment (when constituted) to ensure compliance and report back within four weeks for further legislative action.

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After Five Months Bello, EFCC Standoff Turns Theatric

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Kogi- tate Governor-Yahaya Bello
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From Joseph Amedu, Lokoja

Former Governor of Kogi State Yahaya Bello yesterday honoured the invitation of the Economic and Financial Crimes Commission (EFCC).

A statement from Bello’s Media Office signed by Michael Ohiare said that the decision was made after due consultations with his family, legal team and political allies.

The statement read, “The former governor, who has great respect for the rule of law and constituted authority, had all the while only sought the enforcement of his fundamental rights in order to ensure due process.

“The case has been before a competent court and Alhaji Yahaya Bello had been duly represented by his legal team at every hearing.

“It is important for the former governor to now honour the invitation of the EFCC to clear his name as he has nothing to hide and nothing to fear.

“The former governor believes firmly in the efforts of the administration of President Bola Tinubu to place Nigeria on the path of sustainable economic development and support the fight against corruption in the country.

“It is on record that he was the first Governor of Kogi State to put in place an anti-corruption mechanism to check graft and ensure that the resources of the state work for the people of the state.

“He was accompanied to the EFCC Headquarters by high profile Nigerians.

“It is our hope that the commission will be as professional as necessary and respect his fundamental rights as a citizen of the Federal Republic of Nigeria.

“Details of his engagement with the operatives of the anti-graft agency will be disclosed later.”

However, EFCC denied that the former governor was in its custody.

The commission, in a statement by its spokesperson, Dele Oyewale said that Bello remained wanted with a subsisting warrant of arrest.

He said, “Media reports today that a former Governor of Kogi State, Mr. Yahaya Bello is in the holding facility of the Economic and Financial Crimes Commission, EFCC is incorrect.

“The commission wishes to state that Bello is not in its custody.

“Bello, already declared wanted by the commission for alleged N80.2 billion money laundering charges, remains wanted with a subsisting warrant for his arrest.”

Bello was declared wanted after the incumbent governor of Kogi State, Usman Ododo helped the embattled former governor to escape arrest in April.

Ododo’s arrival with heavy security at the residence of the ex-governor in Wuse, Abuja prevented the EFCC men from effecting his arrest.

Ododo’s entourage drove out with Bello in the governor’s car.

Since then, it was said have holed up in the Kogi State Government House, Lokoja.

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Alia Hands over Seized Palliatives Truck to EFCC, ICPC in Makurdi

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From Attah Ede, Makurdi

Governor Hyacinth Alia of Benue State yesterday handed over a truck of palliatives he recently confiscated in Makurdi to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) with a charge on them to conduct a thorough investigations bordering on alleged diversion.

The National Emergency Management Agency (NEMA), had on Sept.

11 through the office of the representative of House of Representatives for Kwande/Ushongo Federal Constituency, Terséer Ugbor deployed two trucks of palliatives to his constituency for onward distribution to IDPs and vulnerable households.

However, one of the trucks containing several materials worth millions of naira was confiscated by the state governor.

Our correspondent had earlier reported that the seized truck was conveying assorted relief materials meant for IDPs in the Kwande/Ushongo federal constituency was caught offloading its contents at a private residence around Kilometre 2 in Makurdi.

Further checks revealed that the palliatives, which were loaded from a NEMA warehouse in Jos found their way to a private residence under the directives of Ugbor.

The governor explained that he gave a standing order that the truck be impounded and moved to Government House Makurdi so as to know why goods released from NEMA for distribution to IDPs in Kwande and Ushongo could be offloaded at a private residence in Makurdi.

Alia who spoke at NEMA headquarters upon his return from the United Kingdom expressed displeasure over the discovery of some hidden facts regarding the matter.

He explained that preliminary investigations revealed that the goods were coming from NEMA and were meant to be sponsored by the state government and lifted by the State Emergency Management Agency (SEMA).

In a letter from NEMA headquarters addressed to the representative of the Kwande/Ushongo constituency, Ugbor, who lobbied for the materials, the agency specified that the state government should pay for the expenses of lifting the materials in Jos and that the materials be taken to the state by NEMA and handed over to SEMA.

Alia who discovered that some of the trucks conveying other materials such as mattresses were still missing, directed anti-graft agencies to liaise with a three-man committee from the state and conduct a thorough investigations to uncover more facts.

“It was also discovered that the materials were to be distributed directly to the affected persons by officials from the agency’s North Central Zonal Office in collaboration with the Benue State Emergency Management Agency team.

“I have directed that the Acting Executive Secretary of SEMA, James Iorpuu, officers of the EFCC, and a few others should monitor the situation and ensure that due process was followed and that the materials were distributed to the rightful people.

“I thank President Bola Tinubu for having Benue people at heart. I therefore use this opportunity to call on the National Assembly members to consider the conditions of vulnerable people in their states and ensure that they provide for their constituents whatever the federal government gives,” Alia stated.

The Chief Press Secretary (CPS) to the governor, Tersoo Kula in a statement in Makurdi, said the Director General of NEMA through a phone call, thanked the governor for being vigilant and also promised to continue to collaborate with the state government to ensure the fair distribution of materials coming from the Federal Government.

Similarly, last month, the governor uncovered the diversion of relief materials for an IDPs camp in Makurdi by SEMA officials.

The diverted food items include: 55 bags of rice, 24 bags of garri, Indomie noodles, beans among others.

The Executive Secretary of SEMA was perplexed, wondering how the governor got wind of the development.

Three staff of the agency were arrested in connection with the incident.The IDPs said diversion of relief materials by staff of SEMA was a common happening.

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CBN Appoints New Board for Keystone Bank

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) has reconstituted the board of directors of Keystone Bank.

In a statement by the bank on Wednesday, the move is part of the apex bank’s strategy to ensure sustained growth for the financial institution.

According to the statement, Ada Chukwudozie is the new board chairman alongside five other non-Executive Directors.

They are Abdul-Rahman Esene, Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Senator Farouk Bello.

In addition, the CBN named two new Executive Directors, Ladi Oluwole and Abubakar Usman Bello.

Chukwudozie, a prominent figure in Nigeria’s corporate sector, brings nearly three decades of experience in business strategy, management, and administration.

Her expertise cuts across multiple industries, including De-Endy Industrial Company Limited, Dozzy Group, the Manufacturers Association of Nigeria, and Vogue Afrique Magazine.

Esene, with over 43 years of experience in banking, investment management, and corporate finance, has held leadership roles in major institutions including Fidelity Bank, Afrinvest, and Global Arbitrage International Inc.

Akande boasts over 25 years of experience in legal, compliance, and risk management, having worked with global brands like Cadbury, Stanbic Chartered Bank, and Shell.

Olusoji has a distinguished 30-year career in accounting, finance, and business development, having served at institutions such as Sterling Bank, Access Bank, and Intercontinental Bank.

Samuel with more than 35 years of experience in banking and treasury operations has left a significant mark on Nigeria’s financial sector, previously working with Zenith Bank and Fidelity Bank.

Senator Bello, a seasoned banker with over 20 years of experience, has led initiatives across both the public and private sectors, including the National Assembly and Guaranty Trust Bank.

The two new Executive Directors bring their vast expertise to the table. Oluwole, the new Executive Director of Risk Management comes with over two decades of experience in credit and enterprise risk management, including previous roles at Bank of America.

 Bello, Executive Director for the Northern Directorate has extensive experience managing corporate, retail, and public sector clients.

Speaking on the appointments, Keystone Bank’s Managing Director and CEO, Hassan Imam expressed confidence in the new board members, adding that their wealth of experience would play a crucial role in the bank’s continued repositioning and growth.

“We are pleased to welcome the new chairman, non-executive directors, and executive directors to the board of Keystone Bank.

“We are confident that their extensive experience will be invaluable as we continue to reposition the bank to seize emerging economic opportunities while maintaining strong corporate governance and providing our customers with a secure and reliable banking experience,” Imam said.

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