The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has expressed determination to prevent corruption and enhance transparency in local government areas across the country.

The ICPC Chairman, Dr Musa Aliyu, said this at a stakeholders’ meeting on ICPC Accountability and Corruption Prevention Programme for LGs (ACPPLG) on Thursday in Abuja.

Aliyu, a Senior Advocate of Nigeria (SAN), said that the commission was poised to restore public trust in local government administration by strengthening governance structure that will enhance service delivery.

He said that local government administration played a vital role in delivering essential public services and fostering grassroots development in Nigeria.

According to him, as the tier of government closest to the people, its effectiveness directly impacts citizens’ welfare.

“For decades, systemic challenges such as financial mismanagement, lack of transparency and governance inefficiencies have hindered the local governments from fulfilling their constitutional responsibilities.

“The Supreme Court’s landmark ruling of July 2024 reaffirming the financial autonomy of the local government present a unique opportunity to reposition this critical sector for efficiency and accountability.

“However, autonomy alone is not enough, there must be robust frameworks to ensure that local government funds are managed transparently and utilised for the benefit of the people,’’ he said.

Aliyu said that the ICPC had developed the ACPPLG to strengthen financial management, enhance transparency and promote proactive disclosure in local government administration.

He said that the key objectives of ACPPLG included ensuring transparency in local government operations and decision making, facilitating proactive disclosure of financial and administrative activities, and enhancing public communication and citizen engagement in governance.

“it also includes training local government officials on ethical governance and accountability, leveraging technology to improve transparency and access to public information, promoting collaboration between local government councils, civil society and development partners.

“Others are stablishing monitoring mechanisms to track governance performance, fostering inclusivity by ensuring that marginalised groups participate in decision making and encouraging sustainable development practices in local government policy making,’’ he said.

Aliyu said that ACPPLG assessment framework was built around five thematic areas, which are fiscal transparency, open procurement, human resources. corruption control and citizen engagement.

He said that focusing on these areas, the ICPC aimed to strengthen governance structure, enhance service delivery and restore public trust in local government.

“To achieve these goals, ACPPLG will deploy its investigative, prosecutorial and regulatory functions to ensure compliance.

“These include legislative enforcement, and periodic audits and oversight mechanisms to identify and rectify noncompliance.

“State governments must recognise their role in supporting local government council, ensuring that this reform is implemented without administrative bottlenecks,’’ he said.

In a goodwill message, Mr Lateef Fagbemi, the Minister of Justice said that the Federal Government remained resolute in its commitment to promoting transparency, accountability and good governance at all levels.

Fagbemi, a Senior Advocate of Nigeria, who is also the Attorney General of the Federation, was represented by Mr Mohammed Abubakar, a director in the ministry.

He said that this was as encapsulated in the National Anti-Corruption Strategy.

He commended the ICPC for its unwavering dedication to the cause of integrity, transparency, and good governance.

Fagbemi said that the commission’s proactive engagement with stakeholders through fora such as this reflected a commendable commitment to collaborative governance.

Sen. Emmanuel Udende, Senate Committee Chairman on Anti-Corruption and Financial Crimes, said that the committee would work tirelessly to support policies that guarantee the responsible management of public funds.

Represented by a member of the committee, Sen. Anthony Yaro, Udende said that the committee would ensure that allocations meant for LGs translated into real development for the people.

”Through oversight functions, the National Assembly will remain vigilant in ensuring that local government administrations are held accountable for the development of communities.

”We will also try to ensure that efficient services are delivered, and how effectively we can combat poverty and underdevelopment,” he said.

Also speaking, Hon. Kayode Akiolu, Chairman, House Committee on Anti Corruption, said that the initiative would ensure accountability and corruption prevention in the LGs.(NAN)

The Ogun Governor, Dapo Abiodun, on Thursday, said preparations were in top gear for the successful hosting of the National Sports Festival.

He stated that finishing touches were being applied to the facilities at designated centres.

Abiodun made this known during an assessment tour of the M.

K.O. Abiola Stadium and the Alake Sports Centre in Abeokuta.

He explained that the construction of an Olympic-sized swimming pool, tennis courts, and a handball court behind the main bowl of the M.

K.O. Abiola Stadium was near completion.

He added that facilities at the Alake Sports Centre were at various stages of completion.

“The last time we visited the swimming pool site, it was at the foundation level, but significant construction progress has been made.

“The construction process allows us to make corrections, incorporate inputs, and accommodate suggestions.

“I am pleased that, starting from the M.K.O. Abiola Stadium, the track is already in place, and the field is 80 per cent completed.

“The main bowl, handball courts, and tennis courts are at advanced stages of completion.

“Comparing the current state of the Alake Sports Centre to our last visit, the transformation is remarkable,” he said.

The governor stated, “This facility is about 95 per cent completed, and I am confident we are well-prepared to host Nigerian youths.

“We are positioned to host the best National Sports Festival in the history of the games.”

Abiodun emphasised that no stone would be left unturned in providing the necessary infrastructure before the festival commenced.

He noted that the renovation of sports facilities in the state was already yielding benefits, as the African Athletics Federation had selected the state to host the Under-20 athletics competition in 2026.

“With what we have done, Ogun State will now be a hub for world-class competitions in Nigeria, Sub-Saharan Africa, and beyond.

“We are excited that this investment is already producing results. This will be one of our administration’s enduring legacies,” he said.

Abiodun highlighted the economic impact the festival would have on the state’s economy.

He added that the multiplier effect would become more evident after the games.

The festival will take place between May 16 and 30. (NAN)

First City Monument Bank recorded a Profit Before Tax (PBT) of N111.9 billion for the financial year ending Dec. 31, 2024.

This was confirmed in a corporate statement released through the Nigerian Exchange Ltd.

The statement revealed that PBT grew by 71 per cent, impacted by a 56.

6 per cent decline in revaluation income and a 1. 9 per cent fall in Net Interest Margin.

The Group’s gross revenue stood at N794.4 billion for the period ending December 2023, marking a 53.9 per cent increase from N516.4 billion in the previous year.

This growth was driven by a 75.2 per cent rise in interest income and an 8.7 per cent increase in non-interest income.

Non-interest income growth was constrained by a 55.

7 per cent year-on-year drop in other gains, from N89.3 billion to N39.6 billion.

Net interest income rose by 27.6 per cent, from N176.6 billion in the prior year to N225.3 billion by December 2024.

Yield on earning assets improved to 16.2 per cent. However, Net Interest Margin declined by 1.9 per cent due to a 122 per cent rise in funding costs.

Operating expenses increased by 45.7 per cent year-on-year to N229.1 billion, driven by higher personnel costs, regulatory costs, foreign currency-linked expenses, and inflationary pressures.

The cost-to-income ratio closed at 59.9 per cent for the period ending December 2024.

Net impairment loss on financial assets declined by 30.7 per cent year-on-year to N41.2 billion, down from N59.5 billion, lowering the cost of risk to 1.8 per cent from 3 per cent.

The Group’s divisions recorded year-on-year growth, with consumer finance rising by 83.5 per cent and investment management by 27.9 per cent, while the banking group declined by 7.7 per cent.

Group earnings remained diversified, with non-bank subsidiaries accounting for over 30 per cent of profits.

Loans and advances increased by 28 per cent year-on-year from N1.84 trillion to N2.36 trillion at the end of December 2024.

Total assets grew by 59.5 per cent year-on-year, from N4.42 trillion to N7.05 trillion at the end of December 2024.

Customer deposits rose by 39.4 per cent year-on-year, reaching N4.30 trillion from N3.08 trillion by December 2024.

On recapitalisation, the statement read, “In line with the CBN’s directive, the Group focused on strengthening the banking franchise and building a more resilient balance sheet in 2024.

“We completed the first phase of our capital-raising programme, securing N144.6 billion through a public offer. This doubled issued shares from 19.8 billion in 2023 to 39.6 billion in 2024, impacting EPS.

“Subsequent phases of FCMB Group’s capital programme are in progress to ensure First City Monument Bank Limited meets the minimum capital requirement to retain its International Banking License.

“The capital injection has enabled First City Monument Bank Ltd. to secure its National Banking License and raise its capital adequacy ratio to 18 per cent.

“This has created essential buffers to support asset creation in select segments.” (NAN)