NEWS
Reps ask ITF to Account for N12bn, Demands Explanation on N39bn Prepaid Meter
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The House of Representatives has ordered the Industrial Training Fund ( ITF), to account for over N12 billion difference recorded in their accrued budget actuals as at Dec. 31st, 2022.
Rep. James Falake, Chairman, House committee on Finance gave the order when the management of ITF appeared before it for the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper interactive session in Abuja.
He expressed grave concern over the failure of the management of the Industrial Training Fund (ITF) to embark on revenue generation from over 128,000 private and public quoted companies operating in Nigeria.
After scrutinizing various financial statements submitted to the Committee, Hon.
Faleke queried the disparity with the audited report submitted by ITF, revealing a deficit of over N12 billionFaleke observed that the difference was noticed in the accrued budget actuals as recorded in the Auditor General’s report for the same period.
He queried the operating expenditure of N39.8 billion in 2022 with a total revenue of N45.1 billion by the ITF, with only 2,691 staff nationwide.
He warned that if ITF failed to account for the difference after 24 hours, it would be forced to refund the entire N3 billion to government coffers.
Mrs Safiya Mansur, Director Finance and Accounts, ITF, said the fund sourced it’s revenue from the one per cent training contributions from public and private companies.
According to her, there are 128,000 registered companies contributing employers to the ITF, out of which only 57,000 are up to date in their contribution.
To ensure compliance, she said, the ITF intensified monitoring of the defaulting companies, where some resorted to litigation but was later resolved due to the intervention of the previous house committee.
Meanwhile, Falake asked the Nigeria Electricity Regulatory Commission (NERC) to explain why it registered a company without capacity to deliver but was given N39 billion to supply prepaid meters for distribution to consumers.
The House also urged Nigeria Communications Commission to explain within 72 hours why it failed to remit about N291 billion revenue to the Consolidated Revenue Fund of the Federation between January 2022 and September 2023.
The NCC said the money was spent on broadband connection in public places such as markets.
Faleke said a company, Ziglasis was contracted by the Federal Ministry of Power and paid N39 billion to supply prepaid meters , but failed to do so after collecting the money for the project.
The Committee queried the Electricity regulator for licensing the company which has not delivered on the contract if signed and collected tax payers money.
He asked the Vice Chairman of NERC, Mr Musiliu Oseni to bring the Managing Director of Ziglasis and officials of the Ministry of Power before the House on Nov 14 to explain why the company had not delivered on the contract.
Responding, the commission said the contract for the supply of the meters was not awarded by the Ministry.
The Committee however insisted that since they gave the license to the company that qualified them for the contract, the commission should produce the management of the company.
The House also queried the agreement entered into between the Nigeria Bulk Electricity Company and Azura power company in the table or pay agreement which committed the country to 30 million dollars power purchase agreement.
Faleke said the agreement with Azura is such that whether or not the company supply power to turn national grid, the country must pay them $30 million monthly, adding that the agreement has a world Bank guarantee.
The House committee also asked Nigerian Communications Commission (NCC) to explain how it spent N291 billion in 2022 on broadband when the money was supposed to have been paid into the CRF.
The Committee Chairman said the NCC should also provide the House with details of the broadband, the location of three projects and other necessary information on how the money was spent.(NAN)
NEWS
Ajuri, Tinubu’s Spokesperson Takes Exit, Cites Mesical Reaaona
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Special Adviser on Media and Publicity to the President Chief Ajuri Ngelale has quit his job. He said in a statement in a Abuja that he would proceed on an ” indefinite leave, to deal with ” medical matters” affecting him amd hia immediate family.Hos statement reads: “On Friday, I submittd a memo to the Chief of Staff to the President informing my office that I am proceeding on an indefinite leave of absence to frontally deal with medical matters presently affecting my immediate, nuclear family.
While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity and Official Spokesperson of the President; Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home.I look forward to returning to full-time national service when time, healing, and fate permit.I respectfully ask for some privacy for my family and family”NEWS
Fuel Crisis: 1000 CSOs Fault Tinubu’s Economic Team, Want Immediate Reconstitution
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By David Torough, Abuja
About 1000 Civil Society Organizations (CSOs), under the auspices of Coalition Of Civil Society Organisations (CCSOs), on Saturday Faults President Bola Tinubu’s Economic Team and called for immediate reconstitution.Expressing deep concerns over the state of the economy and escalating fuel prices compounding the hardship of Nigerians despite the recent protest, the groups said Tinubu must act now to avert disintegration.
The groups said the current situation across the country has cast doubt on the competence of the Tinubu economic team and called for urgent review. The CCSOs in a statement by its National Coordinator, Mallam Ibrahim Mohammed, pointed out that the plight of Nigerians is sinking low and their patience is wearing off following the deteriorating economy.The statement reads in part, “The Coalition of Civil Society Organisations (CSOs) is deeply concerned about the deteriorating state of the Nigerian economy, which is becoming increasingly unbearable for millions of citizens.“It is evident that the recent hike in fuel prices and the unstable exchange rate are the direct results of economic mismanagement by those responsible for overseeing our nation’s financial policies. The ripple effects of these failures are being felt in every household across the country, worsening poverty and crippling economic activity.“The floating of the Naira, which was initially sold to Nigerians as a means of stabilizing our currency, has done little to prevent the continued devaluation of the Naira. In fact, the exchange rate disparity has widened significantly, with the Naira losing value daily, impacting the cost of living, basic commodities, and inflation.“While this policy was expected to ease foreign exchange pressure, it has instead deepened economic challenges due to poor implementation and lack of strategic foresight.”The coalition also expressed concern over what it described as a death trap of indebtedness of the Nigerian National Petroleum Company Limited (NNPCL), which also they claimed had slowed down importation of Premium Motor Spirit, PMS, hence the current shortage of PMS across the country. “Of equal concern is the precarious position of the Nigerian National Petroleum Company Limited (NNPCL), which finds itself in a debt trap, with global suppliers of petroleum products losing confidence in Nigeria’s ability to honour its obligations.“Reports have shown that NNPCL has accrued debts totalling over $6 billion, causing petrol supply shortages. International suppliers are now reluctant to continue providing fuel on credit, exacerbating supply chain issues and pushing up the price of petrol at the pump”, they claimed.The CSOs also asserted that, “We hold the managers of the Nigerian economy responsible for these disturbing developments. Their inability to provide sound policies and long-term solutions has left the nation in this predicament.“It is clear that there is no cohesive strategy to address the rising debt, the growing imbalance in the foreign exchange market, or the country’s heavy reliance on importation for petrol supply. The recent hike in fuel prices reflects the collapse of responsible economic management and accountability.“Nigerians are left to bear the brunt of these failures. Businesses are shutting down, transportation costs have skyrocketed, and citizens are spending an increasingly larger percentage of their income on basic necessities. This state of affairs is unacceptable.”The group therefore placed some demands; Immediate intervention from the government: There needs to be a comprehensive and transparent plan to stabilize the Naira, restore confidence in the petroleum supply chain, and negotiate a restructuring of NNPC’s debts to ensure continuous fuel supply.“Accountability for economic mismanagement: Those responsible for the reckless management of our foreign exchange policies and NNPC’s debts must be held accountable. The government must also disclose its plan to mitigate the rising fuel costs and economic burden on Nigerians.“A return to sound financial policy: The floating of the Naira has proven ineffective under current conditions. We call for a re-evaluation of monetary and fiscal policies to stabilize the economy, reduce inflation, and attract foreign investment.“In conclusion, the Coalition of Civil Society Organisations reiterates that without immediate corrective measures, the economic situation will continue to deteriorate, leading to further hardship for the average Nigerian. The government must act decisively and responsibly to reverse this downward spiral”, they added.NEWS
Tension in Makurdi Community as NAF Personnel Demolishes Houses, Destroys Rice Farm
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There is growing tension in Ugondu community, Makurdi LGA, Benue state by young people opposed to the demolition of houses and destruction of rice farms in the area allegedly on the directives of senior Air Force officer, Air Commodore Akinbuwa Ayodele.
It was learnt that Commodore Ayodele, who is facing multiple legal actions following dispute over a plot of land located on George Akume Way Makurdi and owned in blatant disregard to the judicial process embarked on destruction of structures on the plot.
Eyewitness said when the equipment arrived no one imagined it was for destruction.
But in a militray- like operation, two flats of two units each, completely roofed, electrified and plumbing work completed were among the structures demolished as the bulldozers rolled over rice farms in the vicinity as well.
It was learnt that last year, a Makurdi High Court presided by Justice Mary Ijohor, granted an order of perpetual injunction, in the same matter, upon application by the supposed owner of the plot and awarded the sum of One Million Naira (N1,000,000.00) only, as cost. The matter, enforcement of fundamental rights, was marked as MHC/582/M/2023.
Godwin Akor whose rice farm was destroyed in a chat with newsmen said that he was shocked at the development. He however said he won’t speak more on the matter as it is still before the court.