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Revenue Leakage: Institute tasks FG on Effective Monitoring of TSA

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The Chartered Institute of Treasury Management (CITM) has tasked the Federal Government on effective monitoring of the backend of the Treasury Single Account (TSA) to prevent resource leakage.
Mr Olumide Adedoyin, the Registrar, CITM, said this at a news conference in Abuja on Wednesday.
“There are some challenges within the TSA platform because the backend for the audit was not adequately secured.


“So in spite of being able to net resources, there is a little opening at the back that leads to the hemorrhaging of resources.

“There must be an orientation of training and retraining of individuals because you will be surprised that some persons saddled with these responsibilities do not actually understand the process.
“Granted there is no 100 per cent full proof system; the possibilities of friend of government to have access to resources is times higher, that is the issues of tying up that end,” he said.

Adedoyin added: “We have reached out to government on different fora, trying to make them understand the importance of putting this backend in check.”
He said that the institute sought to create a pathway toward promoting the study and the practice of managing the treasury as a safeguard against fraud, misapplication, misappropriation of resources placed in the custody of fund managers in both private and public sectors.
The registrar said the institute also sought to institutionalise preventive mechanism by diligently encouraging the study and practice of the profession as obtained in greater economies of the world.
He said it would bring to bear best practices through research and cross fertilisation of ideas from like mind institutes and research bodies presently available in about 54 countries of the world.

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Adedoyin sought the partnership of the media to drive the initiative to stabilise and grow the economy of Nigeria.

Also speaking on the preparation of national budget, the Technical Adviser, CITM, Mr Akejo Daniel, said budget should be based on needs and not wants.

He said items should be listed to be acquired between three or four years saying that the most important one would be attended to the first year, the next one will be given next year and so on and so forth.

“Now, anyone that can not be accomplished this year will now be moved to the first batch of next year.

“It is not the issue that a director is going and he is going with his car. This has to do also with what is called zero-based budget and this comes in when we are talking of International Public Sector Accounting Standards (IPSAS).

“When we say we are applying accrual-based IPSAS, we are talking of capitalising our assets.

“Nigeria said we are presently applying accrual IPSAS but I don’t see it that way because every year we budget for the same thing,” he said.
Daniel added:“Why should we throw away the chair that a director used and buy another chair for the next director? Why should a director going, go with a vehicle that he just bought two years ago and another director has to buy new vehicle. No.

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“All these things should be capitalised and depreciated just the way it is been done in the private sector.

“It is when we do this that we will eliminate waste. We will manage capital expenditure effectively and we will be able to progress in this country.”(NAN))

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POLITICS

2023: APC Suspends Jigawa Lawmaker over Alleged Anti Party Activity

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The All Progressives Congress (APC), in Jigawa state has suspended the member of the state House of Assembly representing the Kanya Babba constituency, Hon Usman Haladu Isah, for allegedly sabotaging the party.

This was contained in a press statement jointly signed by the party chairman of Babura Local Government, Isa Ubale, and the party chairman of Kanya Babba Constituency and made available to newsmen.

The statement said the member was accused of undermining the party ahead of the 2023 general election and disrespecting the party’s elders.

The embattled lawmaker also lost his ticket to Ibrahim Hashim Kanya in the APC primary election for the coming 2023 general election.

Ubale said the suspension was unanimously agreed by all the party leaders in the constituency.

The suspension took effect from the 24th of September 2022, pending the conclusion of the investigation for further action.

The statement added that a copy of the suspension document had been sent to the stakeholders of the party in the state.

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Plateau: Kwande Reconciles Warring PDP Groups, Party Ready for Elections

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From Jude Dangwam, Jos

The Peoples Democratic Party (PDP) has resolved to work for all candidates of the party beginning from the Presidential candidate Atiku Abubakar to the Governorship candidate Caleb Mutfwang, Senatorial candidates, House of Representatives candidates and the State House of Assembly flag bearers of the party in the forthcoming 2023 general elections in the country.

The resolution was reached at a healing meeting called by the former Ambassador to Switzerland Amb. Yahaya Kwande held at his residence with all factions, party leadership and the Governorship candidate arriving at a common ground to work together for the success of the party as official campaign leading to the 2023 elations will kick-started in few days.

The former Secretary to the Plateau State Government, Prof. Shedrach Best while briefing newsmen after the five hours closed door meeting at the residence of the elder statesman Monday in Jos the state capital disclosed that all issues have been resolved and the party is ready to go into electioneering campaigns.

In his words, “There has been a lot of concern on the unity of the party in Plateau state, and there has been discordant statements in regards to the support of the Presidential candidate of the PDP Atiku Abubakar.

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“This meeting addressed all those issues of the need to unite the party, the need to get the people work together because there has been groups that are working across purposes but today by virtue of the Convener who happens to be an elder stateman Yahaya Kwande, he was able to bring together all shade of opinions under one roof.”

He added, “We have been able to discuss the unity of the party so that we get ready for the take off of campaigns, and we are going into this campaign as one house, we are going as one Plateau, one PDP. We have agreed that every persons that bear the flag of the PDP beginning from the Presidential flag bearer Atiku Abubakar, through the Governorship flag bearer Caleb Mutfwang to Senate candidates, House of Representatives candidates and House of Assembly candidates, this party will support them and deliver them.”

Best explained the essence of the meeting, “This is a healing meeting at the residence of this elder statesman who we consider a father figure, we wanted a rallying point and this is the rallying point, we wanted a meeting point and this is the meeting point, If you look at the meeting, the State Working Committee (SWC) is represented, the Jang group and the Huseni group are equally represented, all people from both sides were here.”

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While responding on the Governor Wike’s position on the party and the possible support for the victory of the party in the coming elections he stated, “The Plateau PDP has been around since 1999, and Wike’s support is a recent phenomenon, I believe that this party is good to go. PDP is strong enough because the backbone of the party is the people, and Plateau people are essentially and fundamentally PDP.

“If we get Wike’s support fine, but if we don’t, I believe this party is sustainable; remember that in 2019 when we held elections, Atiku Abubakar won in Plateau state and there was no support from Wike, we are capable of replicating that,” he assured party faithful and Plateau citizens.

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Adjustment of the Time-Table of Activities Earmarked to Commence Campaigns by the Tinubu/Shettima Presidential Campaign Council.

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By Jude Opara, Abuja

The crisis that trailed the list of members of the Campaign Council may have forced the All Progressives Congress (APC) to postpone indefinitely its earlier planned Peace Walk and Prayers to flag off it campaigning programme.

In a statement made available to newsmen late on Monday, Chairman of the APC National Campaign Council and governor of Plateau state, Simon Lalong said the event would now hold an a later date.

He said the postponement was done to include many other stakeholders who would want to be part of the campaign team.

Lalong wrote; “Recall that we had earlier earmarked a peace walk and prayers for Wednesday, September 28, 2022, to  officially kick-off our campaigns for the 2023 Presidential Elections. We had also announced that the members of the Campaign Council report at the Campaign Headquarters on that day to collect their letters of appointments.

 

“However, due to the expansion of the list to accommodate more stakeholders and interests within the APC family, we have decided to adjust the time-table of these activities in order to ensure everyone is on board before activities officially commence. Consequently, the activities earlier announced for the 28th of September will no longer hold.

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“As the ruling and most attractive party in Nigeria, we understand the sacrifices and understanding of our teeming members who are more than willing to volunteer themselves for this great task ahead. It also shows the enormous love that the party members have for our candidates. 

“A new date and time-table of events will be announced soon”.

Many party stakeholders have been complaining that they were ignored in the composition of the Campaign Council, insisting it was lopsided.  

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