Connect with us

COVER

INEC Makes U-turn, Admits Ownership of Server

Published

on

INEC makes U-turn, admits ownership of server
Share

The Independent National Electoral Commission (INEC) Monday, 17th June, 2019 admitted ownership of a sever,
maintaining however, that the results of the 2019 general elections were not transmitted electronically
to its server but that the Commission only experimented the technology during some staggered
elections held in 2018.

The Commission said that the clarification was necessary because of rising controversies on the
transmission of 2019 Presidential Election results from states to the INEC server.

At the resumed sitting of the Presidential Election tribunal last week, the Peoples’ Democratic Party
(PDP) and its candidate in the presidential election, Alhaji Atiku Abubakar, had prayed the tribunal to
give it permission to inspect other electronic gadgets used by INEC in February 23 election.

In their petition before the tribunal, the PDP and Atiku are claiming that they won the presidential
election based on results fed into INEC’s server.

However, speaking during the Post Election Retreat organised by the Commission for its staff and ad hoc
staff engaged for the last general elections in Osun State, INEC National Commissioner, Solomon Soyebi,
said many factors forced the Commission to drop the idea of electronic transmission of the results to a
central server.

Soyebi said INEC experimented with electronic transmission of results during Anambra, Sokoto and Osun
elections held before 2019 elections but the Commission did not sustain the use of the technology
during the 2019 general elections.

He said the late release of INEC’S budget for the 2019 elections and controversies over the Electoral Act,
among others reasons, forced the Commission to jettison the idea of using the technology to transmit
results to the central server.

“We piloted the use of transmission of election results electronically in Sokoto, in Anambra, even in
Osun. What happened was that we were trying to pilot to see the desirability of such technology in our
electoral process.

“First, our budget came out very late, there was also issue (with) the Electoral Act. For these and some
other reasons, the Commission did not adopt that option. 2019 elections were conducted according to
Law.

“We used the Constitution of the Federal Republic; we used the Electoral Act and our guidelines for
2019 elections. If you look at the three instruments carefully, the issue of server was not highlighted.

“Once in a while, you will see an experiment going on but we have to pilot it before we will deploy
wholesale for election. We did not use it because of circumstances beyond the control of the
Commission,” Soyebi said.

Meanwhile, the call for the resignation of the chairman of INEC, Prof. Mahmood Yakubu has heightened.
Yesterday, the Concerned Nigerians Group said Yakubu should honourably resign, as the final report of
the European Union(EU) EOM which was made public over the weekend was an indictment on INEC’s
incompetence in handling the 2019 general elections.

Addressing journalists in Abuja on Monday on behalf of the group, Mr. Dare Ariyo, said the Chairman of
the electoral umpire has no moral right to remain in the office having been indicted by the report of the
EU.

Ariyo said: “Since INEC has denied that they have no server in the court of lied on oath and we must
know. That is why I also support the fact that the INEC Chairman should step aside to allow thorough
investigation and we believe if the executive is not willing to do that, we are calling on national assembly
who approved the budget to demand the INEC chairman to step down.”

“The Concerned Nigerians Group is particularly satisfied with the ‘audacious and grand’ final report of the EU EOM which was made public over the weekend and contained 30 recommendations to improve
future electoral processes. The EU EOM has done a good job and we laud its positive impacts on our
elections.

“We believe that the reports by EU EOM, other partners, and our own recommendations should provide
sufficient information to guide the Independent National Electoral Commission (INEC) in developing a
far-reaching framework for fundamental electoral reforms.”

He said the controversy over INEC server has lingered for so long in the public space and is gradually
eroding the confidence of Nigerians in the electoral body as an institution that has sincerity of purpose
in conducting free, fair and credible elections.

Also speaking, a human right activist, Deji Adeyanju, called on President Muhammadu Buhari to
expedite action and sign the electoral act into law to ensuring credibility and transparency of the
electoral process.

The European Union Election Observation Mission on Friday released its report on the just concluded
general elections where the flaws and shortcomings of the process were highlighted.

COVER

Federation Account Garners N7trn Revenue in Six Months – RMAFC

Published

on

RMFARC
Share

By Tony Obiechina, Abuja

Revenue Mobilization Allocation and Fiscal Commission (RMAFC) yesterday disclosed that a total sum of N7.31 trillion accrued to the Federation Account between July and Dec. 2023.This was captured in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) under the caption “CBN Federation Account Component Statement”.

This amount is higher than the sum of N5.
244 trillion realised in the first half of year 2023, according to a statement signed by the RMAFC Chairman, Mr. Mohammed Bello Shehu and made available to the media in Abuja.The chairman disclosed that out of the total gross revenue inflows into the Federation Account, the sum of N1,692 trillion was transferred to the Exchange Gain Differential Account, thus leaving a balance of N5.
475 billion for distribution.He added that from the amount stated above, the sum of N3.26 trillion was deducted as approved statutory deductions by the OAGF, leaving a net balance of N2.2 trillion for distribution to the three tiers of government within the period under review.The chairman explained that out of the N3.267 trillion statutory deduction indicated above, N2.251 trillion was transferred to the Non-Oil Excess Account as savings, thus leaving a net statutory deduction of N1.016 trillion with further augmentations for sharing among the three tiers of government received from some “reserve accounts.”The statement added that within the period under review, the net sum of N4 trillion was shared with the three tiers of government, an amount higher than the total sum of N3.06 trillion.In terms of percentages, the chairman stressed that “the statutory deduction in the second half of the year constituted 44.12 percent of the total gross inflow into the Federation Account in the six-month period, which was higher than the first half deductions of 42.31 percent (inclusive of transfer to the Non-Oil Excess Account).”On remittances by Revenue Generating Agencies (RGAs), the RMAFC chairman disclosed that out of the total gross revenue inflows into the Federation Account, the Nigerian National Petroleum Company Limited (NNPCL) remitted N874 64 billion in the second half of the year as against the zero-remittance made in the first half of the year.Similarly, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted the sum of N1.56 trillion while the Federal Inland Revenue Service (FIRS) remitted N3.65 trillion

Continue Reading

COVER

PDP NEC Meeting Ends with Damagum as Acting Chairman

Published

on

Share

By Johnson Eyiangho, Abuja

Peoples Democratic Party (PDP) 98th National Executive Committee (NEC) meeting yesterday ended without a word on the much talked-about replacement of the party’s Acting National Chairman, Amb. Iliya Damagum, an indication that he will continue to function in that position.

In an interview with newsmen after the meeting, the PDP spokesman, Hon.
Debo Ologunagba said for now, the party is focusing on issues of reconciliation and its stability, adding that the issue of the Acting National Chairmanship had been “deferred to the next NEC meeting, which is tentatively scheduled for August 15, 2024″.
Also speaking, the Governor of Bauchi State and Chairman of the PDP Governors’ Forum, Bala Mohammed said the party is united as there was no dissension and rancour.
In his words, “It was planned that the party would have an implosion. PDP is more than that. We have gone beyond all that. This party is united, guided by experience and constitutionality.”There were a lot of permutations and mischievous thinking outside there. But we looked at all the issues and we worked along our guidelines and constitution.“There is no problem or dissension and problem among members,” Mohammed said.The well attended NEC meeting was held amid tight security as police and personnel of the Department of State Services (DSS) condoned off roads leading to the PDP Secretariat, Abuja and diverted vehicular traffic.It will be recalled that the PDP National Working Committee (NWC) had passed a vote of confidence on Damagum during its meeting on Tuesday.A communique issued at the end of the three hours meeting commended all the organs of the party for their collective resilience, steadfastness and commitment towards the unity, stability and sustenance the party despite daunting challenges.The communique commended the efforts of the NWC in its effort towards rebranding the party and urged all party members to continue to work together for the success of the PDP for the benefit of Nigerians and sustenance of democracy in our country.

The document which was read by the PDP National Publicity Secretary, Ologunagba, however, expressed concern over what it described as the ill-implemented policies of the APC administration, leading to worsening insecurity, harrowing economic hardship, soaring unemployment rate, high cost of food and other necessities of life with pervading misery and despondency across the country.”NEC expresses serious apprehension over the spate of acts of terrorism and violence including the escalated cases of mindless killings, mass abduction of innocent Nigerians and marauding of communities in various parts of the country.”NEC condemns the insensitivity, nonchalance, incompetence and arrogance in failure of the APC administration which continues to conduct itself in a manner that shows that it has no iota of interest or commitment towards the wellbeing of Nigerians.”NEC also condemns the creeping totalitarianism and tendencies towards a One-Party State which is inimical to the peace, stability and corporate existence of our nation as well as the development of Democracy and good governance in the country,” it said.The communique demanded that President Bola Tinubu should urgently convene a special National Security Council meeting to proffer a holistic solution and measures to curb the disturbing insecurity with its attendant negative consequences on the nation.It also called on the president to “immediately rejig his Economic Team to bring in persons of proven integrity and competence without bias and vested interest to assist in repositioning the economy.”NEC further demands that the Federal Government should review all policies and programmes which are stifling the economy with suffocating effect on the lives of citizens; including the increase in price of fuel without cushioning measures, hike in electricity tariff, increased taxation and implementation of adverse fiscal policies,” the communique added.Present at the meeting were FCT Minister Nyesom Wike, former Vice President Atiku Abubakar and many other past and presently elected members of the PDP.

Continue Reading

COVER

CBN Reduces Banks’ Lending Rate to 50 Percent

Published

on

dailyasset-greetings
Share

By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) yesterday announced a review of the loan-to-deposit ratio (LDR) for banks from 65 percent to 50 percent to align with the current monetary tightening.

LDR is used to assess a bank’s liquidity by comparing its total loans to its total deposits.

An increase in the loan-to-deposit ratio allows banks to expand their credits to businesses and individuals, however, a decline in LDR reduces their ability to loan customers from depositors’ funds.

CBN disclosed the increase in a circular titled “Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy”, signed by Adetona Adedeji, CBN Acting Director, Banking Supervision Department.

“Following a shift in the b  ank’s policy stance towards a more contractionary approach, it is imperative to review the loan-to-deposit ratio (LDR) policy to align with the current monetary tightening by the CBN,” the apex bank said.

“Accordingly, the CBN has decided to reduce the LDR by 15 percentage points to 50%, in a similar proportion to the increase in the CRR rate for banks.

“All DMBs are required to maintain this level and are further advised that average daily figures shall continue to be applied to assess compliance.”At the last monetary policy committee (MPC) meeting on March 26, the CBN retained the CRR at 45 percent and the liquidity rate at 30 percent.

Continue Reading

Read Our ePaper

Top Stories

NEWS2 mins ago

Enugu State Justice Reform Team Commends Mbah, Calls for Enhance Justice System

ShareFrom Sylvia Udegbunam, Enugu The Enugu State Justice Reform Team (ESJRT) has commended the administration of Dr. Peter Ndubuisi Mbah...

POLITICS9 mins ago

IDidn’t Abandon Mandate – LP Candidate

ShareFrom Marcel Duru, Owerri The Labour Party Candidate in the 2023 general elections for Mbaitoli-Ikeduru Federal Constituency, Rt Hon Uche...

POLITICS15 mins ago

Deliberate Litigations Stall Efforts to Resolve PDP’s Leadership Challenges – BoT

ShareBy Johnson Eyiangho, Abuja The Board of Trustee (BoT) of the Peoples Democratic Party (PDP) has said that the solutions...

NEWS22 mins ago

Nigeria to Deepen Military Relations with Tanzania – Defence Perm Sec

ShareBy Tony Obiechina, Abuja The Permanent Secretary Ministry of Defence, Dr. Ibrahim Abubakar kana, mni has said that the Nigerian...

NEWS28 mins ago

Abiodun Donates 25 Patrol Vehicles to Police as CP Says Ogun Remains Most Peaceful State

ShareFrom Kunle Idowu, Abeokuta Ogun State Government yesterday donated 25 patrol vehicles to the state police command just as it...

RMFARC RMFARC
COVER35 mins ago

Federation Account Garners N7trn Revenue in Six Months – RMAFC

ShareBy Tony Obiechina, Abuja Revenue Mobilization Allocation and Fiscal Commission (RMAFC) yesterday disclosed that a total sum of N7.31 trillion...

COVER42 mins ago

PDP NEC Meeting Ends with Damagum as Acting Chairman

ShareBy Johnson Eyiangho, Abuja Peoples Democratic Party (PDP) 98th National Executive Committee (NEC) meeting yesterday ended without a word on...

POLITICS51 mins ago

Reps Cautions against Sabotage over Disillusionment in Nigeria’s Nuclear Centres

ShareBy Ubong Ukpong, Abuja The House of Representatives said it is working on plans to ensure financial autonomy for managers...

Kogi- tate Governor-Yahaya Bello Kogi- tate Governor-Yahaya Bello
NEWS57 mins ago

EFCC Declares Ex-Kogi Gov Yahaya Bello Wanted

ShareBy Lubem Myaornyi Economic and Financial Crimes Commission (EFCC) has declared former Kogi State Governor Yahaya Bello wanted for N80.2...

NEWS1 hour ago

NERC Paints Gloomy Picture of Power Sector

ShareBy Ubong Ukpong Abuja Chairman of the Nigeria Electricity Regulatory Commission (NERC) Sanusi Garba yesterday told the House of Representatives...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc