Allocation
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Kano NLC suspends planned strike
The organised labour has suspended the three-day warning strike it planned to commence today (Thursday) in Kano over the deduction of workers salary for the month of March by the state government. The NLC Deputy National President, Najeem Yasin, announced the suspension of the strike on Wednesday night at a joint news conference with other labour movement and affiliates in Kano after a meeting with the State government team led by the Head of Civil Service, Hajia Binta Lawan Ahmed. The NLC had last week given a seven-day ultimatum to the state government to refund and stop what it described as “illegal deduction” from civil servant salaries or face industrial action. Similarly, the labour leaders insisted that failure of the government to stop the “unexplained” deduction before the end of ...
Bayelsa: We won’t retrench workforce amid dwindling revenues – official
The Bayelsa state government has assured civil servants in the state that it had no plans to downsize the workforce, amidst dwindling revenue. The government said on Thursday that although it was contending with an unwieldy wage bill, it would seek alternative sources of revenue to shore up its finances. The Commissioner for Finance, Maxwell Ebibai, gave the assurance at the transparency briefing for the months of January and February 2021, in Yenagoa, the state capital. Newsmen report that under the state’s Bayelsa Transparency Law, it had become mandatory for the government to make public its income and expenditures on a monthly basis. Ebibai, said the state government received N6.8 billion for February, 2021, as net receipts from the Federation Account, after first line deductions, as a...
Governor El-Rufai urges federal government to increase frequency of Abuja-Kaduna trains
The governor of Kaduna state, Nasir el-Rufai, has urged the ministry of transportation to increase the frequency of trains plying the Abuja-Kaduna rail line. The governor spoke on Thursday when Gbemisola Saraki, minister of state for transportation, and the management of the National Institute of Transport Technology (NITT) paid him a courtesy visit in Kaduna. He said the increase will help to check overcrowding as the trains are “always fully booked”. “There are areas of constraints with the COVID-19 pandemic, but I think that the way our figures are going down with the rollout of the vaccination, there are going to be far more movements within the country, and particularly on that route,” he said. “So, we would like the ministry to consider increasing the frequencies and completing the p...
EU defends vaccine distribution as nations complain it is uneven
The European Commission on Saturday defended its policy of distributing COVID-19 vaccines evenly in the bloc after Austria and five other member states complained that doses were not allocated equally. In a joint letter to the Commission and the European Council, leaders of six European countries, including Czech Republic, Bulgaria, Slovenia, Latvia, and later Croatia, called for discussions on vaccine distribution. The Commission responded that doses have been distributed in proportion with the population of each country and taking into account epidemiological data, adding that was up to member state governments to decide how to share them. A flexible policy agreed by EU governments meant countries facing a more acute phase of the epidemic could access more doses, if some governments opte...
Activist asks court to compel Kano, others to refund VAT generated from alcohol
An Abuja-based activist, Sesugh Akume, has filed a suit before a Federal High Court in the nation’s capital, asking it to compel states that outlawed the sale of alcohol to refund the sums received through Value Added Tax imposed on alcoholic beverages. About 12 states practise Sharia law in Nigeria. They are Kano, Kaduna, Katsina, Kebbi, Sokoto, Borno, Yobe, Jigawa, Bauchi, Gombe, Zamfara and Niger. Based on Sharia law, some of the states prohibit the sale of alcoholic beverages and usually hold public events where bottles of alcoholic drinks are destroyed while gambling is also illegal. However, all the states receive VAT collected from alcoholic beverages sold in other states that permit the sale of the product. In an originating motion brought pursuant to Section 1(3), 4(5), 162(3), (4...
NCC boss: Over $70 billion spent on telecoms infrastructure in Nigeria
Vox Media Over $70 billion have been invested in telecommunications infrastructure deployment in Nigeria since the liberalisation of the industry in 2001. The Executive Vice Chairman of the Nigerian Communications Commission, NCC, Prof Umar Garba Danbatta, who made this known said the amount represented a larger chunk of local and Foreign Direct Investment (FDI) attracted into the sector within the period. Danbatta made the remarks on Thursday while delivering the Bullion Lecture 2021 Edition organised by the Centre for Financial Journalism (CFJ), Lagos. According to him, the investment in infrastructures has boosted the economy and provided more opportunities for more Nigerians have access to telecoms services. “Today, the number of active telephone lines being used by Nigerians has signi...
Senator Okorocha meets VP Osinbajo over feud with Governor Uzodinma
Rochas Foundation The former Governor of Imo State and Senator representing Imo West Senatorial District, Owelle Rochas Okorocha, Wednesday took the feud between him and Governor Hope Uzodinma to the Presidency. Senator Okorocha after meeting behind closed doors with Vice President Yemi Osinbajo told State House correspondents that he would not want an escalation of the conflict arising from the government’s sealing of some of his property in Owerri, the Imo State capital, insisting that he wants peace to reign in the state. The proponent of ‘Iberiberism’ doctrine also said that becoming governor was a sacrifice for him. According to him, “The whole thing to me sounds like a movie, a joke, a dream that does not reflect any practical reality, but I am a father, I’m a leader of that state an...
South Africa signs J&J vaccine deal, eases restrictions
South Africa has signed an agreement with Johnson & Johnson to secure 11 million COVID-19 vaccine doses and will ease restrictions due to a decline in new cases, President Cyril Ramaphosa said on Sunday. South Africa has been the hardest-hit on the continent by the pandemic, recording almost half of the COVID-19 deaths and more than a third of reported infections. But daily cases have fallen below 2,000, from a peak above 20,000 last month during a second wave of infections. Ramaphosa said in a televised address that 2.8 million of the J&J doses would be delivered in the second quarter, with the rest spread throughout the year. South Africa started administering the single-dose J&J vaccine this month in a research study targeting healthcare workers but has not yet rolled out sh...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
Nigerian legislature poorest in the world – Reps spokesperson
The Spokesperson of the House of Representatives, Benjamin Kalu, on Tuesday said the National Assembly is the poorest parliament in the world. Kalu stated this while responding to a question on the status of investigative reports and alleged compromise of the lawmakers on some of the reports. He refuted the claims of compromise and blamed COVID-19 for the delays on consideration of the reports. Kalu added that the lawmakers are falling sick due to pressure from constituents making financial demands. “As per being compromised, you would have seen it on the lawmakers. This is the poorest parliament. You don’t see the lawmakers living in luxury. Compromised with what? With position or money? These guys are suffering,” Kalu said. “That is why most of the sickness they are passing through are h...
