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Reps Probe CBN, FIRS, Others Over Forex

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The House of Representatives has resolved to investigate Nigeria’s apex bank, CBN, and FIRS over alleged racketeering in allocating of foreign exchange.

The House took this decision on Thursday after adopting a motion brought under matters of urgent national importance by the chairman, committee on finance, James Faleke (Lagos, APC).

The CBN is responsible for injecting dollars into the inter-bank foreign exchange market.

It mostly distributes to the wholesale sector, Small and Medium Enterprises (SMEs) and the invisible segments.

The motion is titled “Urgent Need to Rescue the Country from Over $30bn Annual Revenue Leakages Arising from Various Malpractices in Foreign Exchange Allocation to Companies from Sources Such As CBN, Autonomous, Interbank, Domiciliary and Over-the-Counter Purchases for the Importation of Physical Goods, Payment of Foreign Service Vendors, Dividend Repatriation, Foreign Loan and Interest Payments, Including Foreign Currency Denominated Contracts’ Payments by Companies in Engineering, Procurement, Construction, Installation and Marine Transportation.

Mr Faleke in his motion stated that the leakages are causing the Federal Government to lose revenue worth over $30billion.

He urged the house to also probe commercial banks, forex dealers, importers and beneficiary companies.

Part of Mr Faleke’s prayer, adopted by the house was that the Committees of Finance; and Banking and Currency will “conduct public hearing by looking into the various originating documents maintained by the CBN, banks, forex dealers, FIRS, importers and other beneficiary companies.”

The committees were also mandated to identify the “perpetrators and the atrocities committed based on verifiable documents obtained from the valuable records.

“Determine in a statutory and in a professional manner, the revenue amount involved in the malpractices by each organisation based on every revenue line item collectable by agency of government for the purpose of timely recovery into government accounts.

“Make a formal report of findings and provide necessary recommendations toward the correction and regularisation of the problems aimed at putting a stop to the menace in the future.”

“Advise the House on the statutory provisions/amendment for penalties as provided in the applicable Law for various related offences as a deterrent to others.”

The speaker, Femi Gbajabiamila, while ruling on the motion told the panel to conclude its investigation within weeks.

POLITICS

2027: I have No Presidential Ambition – Yahaya Bello

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Former governor of Kogi, Alhaji Yahaya Bello on Friday said he won’t contest against President Bola Tinubu in 2027 because he has no presidential ambition.

In a statement signed by Michael Ohiare, his Media Director, Bello expressed surprise and shock over a video post of his 2022 rally,  claiming he had started campaigning against President Tinubu for 2027.

The statement read: “While we state categorically, that our principal, Bello, has no 2027 presidential ambition, we want to also stress his unflinching commitment to the re-election of President Tinubu come 2027.

“The indices cannot lie. The President and his team have done exceedingly well for the country, despite global challenges.

On merit, he deserves the support of well meaning Nigerians.

“Nigerians should disregard the mischievous post insinuating a fresh presidential support rally as what it is – a senseless post by a confused, witless mind

“The fabricators forgot that the 2022 dates are boldly written on the banners on display. Yet, they expect reasonable people not to see this as the handiwork of detractors. ” he said.

Ohiare described the post as a “senseless post” by mischief makers, who have no other job than to fabricate falsehood and disseminate same to mislead unsuspecting Nigerians.

According to him, the fabricators have tried so hard in their “bring-him-down-at-all-costs” mission against Bello but have always failed woefully.

The director stated that it was not the first time detractors and their co-travellers would fly absolute falsehood with the aim of setting the former governor against President Tinubu.

“But this latest slant of reposting a 2022 rally afresh and insinuating that it is just happening, connotes nothing but sheer mischief.

“Nigerians should be wary of witless persons who concoct stories without thinking, just to satisfy the interests of their paymasters, ” he said

He stressed that the post was out of desperate bid to create crisis where there is none. (NAN)

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POLITICS

2027: APC Governors Endorse Tinubu

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The Progressive Governors Forum on Thursday at the All Progressives Congress (APC) National Summit held in Abuja endorsed President Bola Tinubu as sole candidate for the 2027 presidential election.

The endorsement, which was moved by Gov. Hope Uzodimma of Imo and Chairman of the forum Chairman, was seconded by Gov.

Uba Sani of Kaduna State.

Uzodimma, who spoke on behalf of the forum, emphasised commitment to mobilising resources and ensuring victory for Tinubu in their respective states.

The governors expressed confidence in Tinubu’s leadership and reforms, promising to deliver their states in the upcoming elections.

This endorsement follows similar moves by other APC regional leaders, including the North Central governors who recently passed a vote of confidence in Tinubu’s administration, praising his developmental strides and inclusive governance approach.

(NAN)

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POLITICS

Senate Passes Bill Establishing FMC Adikpo into Law

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By Eze Okechukwu, Abuja

The Senate yesterday passed into law a bill for the establishment of a Federal Medical Center, Adikpo in Benue state.

The bill which was sponsored by Senator Emmanuel Udende (APC, Benue North East) was read for the third and final time during plenary with an unanimous approval by the legislatures when it was committed to the Committee of the whole.

The bill, according to Udende, seeks to establish a federal medical center in Adikpo which will not only cater for the health needs of the people of Benue North East senatorial zone but Benue state and Nigeria in general and beyond.

“The bill awaiting presidential assent seeks to bring medical care closer to the people, especially in times of emergency.

The distance between Adikpo , a Nigerian boarder town and Makurdi, Benue State capital where a Federal Medical Center exists is over 300 kilometers, so patients who need medical care within the Adikpo axis are on a danger line, hence my resolve to use the instrumentality of the parliament to address the troubling health challenge”, senator Udende said.

He explained that the people of Kwande who share boundaries with the Republic of Cameroon most often are required to seek medical attention outside their country and in most cases are frustrated or cannot afford the cost.

According to senator Udende, the strategic location of the health facility will provide potential economic benefits of trade and cultural exchange, giving its proximity to the Republic of Cameroon.

He stressed that the Federal Medical Centre will also trigger infrastructure development, healthcare and open up the locality in terms of education while expressing concerns that the absence of such institutions on the side of the Nigerian border town has grossly caused underdevelopment.

The senator however commended the senate Committee on Health and Tertiary Institutions for conducting a public hearing which gave rise to the final parliamentary journey of the bill.

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