Connect with us

NEWS

FCCPC Generates N56bn in 2023, Remits N22.4bn to Federation Account

Published

on

Share

The Federal Competition and Consumer Protection Commission (FCCPC),} 0says it raked N56 billion as Internally Generated Revenue (IGR) in 2023 and remitted N22.4 billion to the Federal Government.

Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC, said this at a strategic media engagement organised by the Commission in Abuja on Thursday.

Irukera said that 90 per cent of the IGR was gotten from penalties.

According to him, we believe that businesses must be held accountable and we believe in consequences.

”What makes the market stable is holding businesses accountable. Consequence management system is what we have adopted.

”We are not trying to close down businesses but they must know that if you snooze, you loose.

”You cannot distort the market and expect that there will be no consequences,” he said.

Analysing the Commission’s budget since 2017, Irukera said the agency got one billion naira as budget from the government and raked an IGR of N154 million in that year.

He said the Commission got N3.3 billion, N1.3 billion as government budget in 2018 and 2019 respectively and N377 million as IGR in 2019.

The executive vice chairman said that in 2020, the Commission’s budget from the government was N887 million and it got an IGR of N864 million.

”By 2021, the government approved a budget of N1.8 billion to the Commission and the agency generated N4 billion and remitted N1.6 billion.

”As a matter of fact, what the government released from the treasury that year for the agency was N1.3 billion, so the agency gave the government more money than it got from it.

”In 2022, the government budget was N1.3 billion for the agency, the agency did not touch a single kobo of the operational or capital expense, the agency made N5.2 billion and remitted N2.6 billion,” Irukera said.

He said the Commission had since January 1, vacated the Federal Government’s budgetary provisions.

”In 2023, our IGR is N56 billion and we remitted to the government N22.4 billion.”

Irukera said the development demonstrated the possibility of the country.

He reiterated the need for companies to take responsibility and create their stand-alone  complaints resolution platforms to resolve consumer related issues. (NAN)

NEWS

Alleged Defilement: Businessman Docked for Failing to Produce Suspect

Published

on

Court Sentences Applicant to 6 Months in Prison for Stealing Cell Phone
Share

A businessman, Robert Makolo on Monday appeared before an Ikeja Chief Magistrates’ Court, for failing to produce a suspect he stood surety for in a case of defilement.

Makolo had promised to produce the suspect, John, who is his brother in court by the adjourned date.

The Magistrate Mr Lateef Owolabi, adjourned the case until May 30 for mention and to enable the defendant produce the suspect.

Reports says that Makolo had earlier been arraigned on Jan.

22 and stood trial on a two- count charge of conspiracy and perversion of justice.

He had pleaded not guilty.

Magistrate Owolabi, granted the defendant bail in the sum of N200,000 with two sureties in like sum who must produce evidence of 3 years tax payment to the Lagos State Government.

He said that one of the sureties must be a blood relative.

The prosecutor, SP Josephine Ikhayere had told the court that Makolo stood in as surety on  Nov 16, 2023 at the Anthony Police Station.

Ikhayere alleged that Makolo stood as a surety for his brother Paul, who was involved in a case of defilement.

She said the defendant promised to produce his brother the suspect anytime his presence was required at the police station until the case is finally disposed of.

She said that the defendant undertook to produce the suspect on Nov. 30, 2023 but failed.

The prosecutor said that the section contravene the provisions of Section 97 and 411 of the Criminal Law of Lagos.(NAN)

Continue Reading

Education

Minimum Entry age to Tertiary Institutions18 Years – FG

Published

on

Share

The Federal Government has directed that admission to tertiary institutions should not be given to candidates less than 18 years.

The Minister of Education, Prof. Tahir Mamman gave the directive on Monday during a monitoring exercise of the ongoing 2024 Unified Tertiary Matriculation Examination (UTME) in Bwari, Federal Capital Territory.

He decried the activities of some parent, who were pressuring their underage students to get admissions into tertiary institutions,

The minister said that the 18-year benchmark is in line with the 6-3-3-4 system of education.

“The minimum age of entry into the University is 18, but we have seen students who are 15, 16 years going in for the entrance examination.

“Parents should be encouraged not to push there wards too much. Mostly, it is the pressure of parents that is causing this.

“We are going to look at this development because the candidates are too young to understand what the whole university education is all about.

“This is the period when children migrate from controlled to uncontrolled environment; when they are in charge of their own affairs.

“But, if they are too young, they won’t be able to manage properly. I think that is part of what we are seeing in the Universities today,” he said.

On skill acquisition for those who will not be able to gain admissions into tertiary institutions, Mamman said the ministry is taking skills to pupils from primary school.

“ In overall, it is 20 per cent that can be admitted into the University, Polytechnic and Colleges of Education system.

“So, where will the 80 per cent go to? That is why the issue of skills acquisition is very important.

“Any student who is unable to proceed to tertiary institutions should be able to have a meaningful life after primary and secondary school’s education and the only solution to this is skill acquisition,” he said.

Corroborating the minister’s position on the benchmark of 18 years for admission to tertiary institution, the JAMB spokesperson, Dr Fabian Benjamin said 18 years is the is in line with the 6-3-3-4 education system.

The Minister of State for Education, Dr Yusuf Sununu who was in the monitoring team applauded the conduct of the 2024 UTME, particularly, the introduction of online examinations as a way of checking malpractices.

He said the Computer Based Test (CBT) had reduced examination malpractices to the barest minimum.

Sununu commended the Board for setting simple but high standard for the examination. (NAN)

Continue Reading

NEWS

EFCC Arraigns Businessman for Allegedly Tampering with Forfeited Property

Published

on

Share

The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, Ifeanyi Bosah-Reginald, before an Ikeja Special Offences Court for allegedly tampering with forfeited property.
Reports says that Bosah-Reginald was arraigned on a count charge alongside Magnificat Homes & Leisure Ltd.

 and fifth Neighborhood Management Ltd.

The EFCC alleged that the defendant ran foul of the offence of dealing with forfeited property without authorisation contrary to Section 12(1) of the EFCC (Establishment) Act 2004.

The defendant, however, pleaded not guilty to the charge.
The EFCC Counsel, Mr Babatunde Sonoiki, thereafter applied to the court that the defendant should be kept in appropriate custody and also  asked for a trial date.

According to the EFCC, the defendant was alleged to have trespassed property of one  Jokotade Tade Estate Resources Ltd. and that of one Mrs Foloshade Ogundare.
The EFCC said the property, a subject of forfeited order in suit ID/2168/2015, was said to be measuring about 10,687 hectares, situated at Sangotedo Lekki, Lagos State.
It said the property had been forfeited to the Federal Government based on the interim forfeiture order of the court of competent jurisdiction.
Justice Rahman Oshodi ordered the defendant to be remanded in Kirikiri Correctional Centre.
The judge, however, adjourned the case until  May 31 for commencement of trial. (NAN)

Continue Reading

Read Our ePaper

Top Stories

Court Sentences Applicant to 6 Months in Prison for Stealing Cell Phone Court Sentences Applicant to 6 Months in Prison for Stealing Cell Phone
NEWS2 hours ago

Alleged Defilement: Businessman Docked for Failing to Produce Suspect

Share A businessman, Robert Makolo on Monday appeared before an Ikeja Chief Magistrates’ Court, for failing to produce a suspect...

Education2 hours ago

Minimum Entry age to Tertiary Institutions18 Years – FG

ShareThe Federal Government has directed that admission to tertiary institutions should not be given to candidates less than 18 years....

NEWS2 hours ago

EFCC Arraigns Businessman for Allegedly Tampering with Forfeited Property

ShareThe Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, Ifeanyi Bosah-Reginald, before an Ikeja Special Offences Court for...

NEWS2 hours ago

Raid: Police Arrest 1,802 Suspects in 2 Weeks

Share The Police Command in Lagos State says no fewer than 1,802 suspects have been arrested in raids at different...

NEWS2 hours ago

Nigeria’ll Strengthen Regional Collaboration Against Terrorism- Tinubu

SharePresident Bola Tinubu says Nigeria will continue to strengthen collaboration and lead in taking measures towards countering terrorism in Africa....

Foreign News2 hours ago

Flames, Smoke Continue to Emerge from Massive Landfill in Delhi

Share Flames and columns of thick smoke continued to emerge from a massive landfill in the Indian capital city of...

NEWS2 hours ago

Human Trafficking: NSCDC Rescues 10 Victims in FCT

Share The FCT Command of the Nigeria Security and Civil Defence Corps (NSCDC), has intercepted 10 victims of human trafficking...

NEWS2 hours ago

First Bank Appoints Alebiosu Acting CEO

Share The Board of Directors of First Bank Plc has appointed Olusegun Alebiosu the Acting Chief Executive Officer (CEO) of...

NEWS2 hours ago

Teenager Leads Team Nigeria to ITTF W’Africa Regional Championships

ShareTeenage sensation, Matthew Kuti, will lead team Nigeria when they begin their title defence at the 2024 ITTF West Africa...

JUDICIARY2 hours ago

My Ill-tempered Wife Attacked me with a Knife, Military Officer Tells Court

Share A retired military officer, Mr Thomas Olawaye, on Monday prayed a Mapo Grade ‘A’ Customary Court in Ibadan to...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc