FEC
FEC probe demanded after SBF ‘admitted’ making dark money donations
A watchdog group has demanded an investigation into Sam Bankman-Fried’s political donations, claiming the former FTX CEO admitted to donating tens of millions of dollars to Republicans under the table, in violation of federal law. The Citizens for Responsibility and Ethics in Washington (CREW) filed the complaint with the Federal Election Commission (FEC) on Dec. 8, citing comments made by Bankman-Fried in a Nov. 16 interview with cryptocurrency vlogger Tiffany Fong released via YouTube on Nov. 29. CREW suggested in its complaint that wealthy donors often take advantage of the Citizen United ruling to evade federal disclosure laws by using intermediaries and claiming they were unaware of where the funds ended up, but that Bankman-Fried’s admission negates this plausible deniabil...
Nigerian government approves N9.2 billion premium for civil servants’ life insurance
The Federal Executive Council (FEC) has approved the sum of N9.2billion as premium to insurance companies that will manage the group life insurance for federal civil servants in the country. Minister of Information and Culture Lai Mohammed revealed this when he briefed State House correspondents on the outcome of the Council meeting which was presided over by President Muhammadu Buhari in Abuja on Wednesday. He said: “On behalf of the Head of Civil Service of the Federation, I will like to report that council today approved the award of contract for the appointment of insurance companies for group life assurance for federal government employees, public servants, para-military and the intelligence community for the year 2021-2022 in the sum of N9, 248. 995, 907. “This premium is for a perio...
Nigerian government kicks as Twitter deletes President Buhari’s tweet
The Federal Government has kicked against Twitter that on Wednesday deleted President Muhammadu Buhari’s tweet that spoke of treating people in the “language they understand.” The Presidency questioned the role of Twitter in the secessionist agitation in the South-East following the social media’s deletion of a tweet by President Muhammadu Buhari evoking the memories of the civil war to threaten “those misbehaving” in the region. The president had said in his series of tweets on his handle @mbuhari on Tuesday: “Many of those misbehaving today are too young to be aware of the destruction and loss of lives that occurred during the Nigerian Civil War. Those of us in the fields for 30 months, who went through the war, will treat them in the language they understand.” Twitter has now deleted th...
President Buhari presides over FEC meeting — in pictures
President Muhammadu Buhari is presiding over the 44th virtual meeting of the Federal Executive Council (FEC). The weekly meeting holding at the First Lady’s Conference Hall at the State House, Abuja, is being attended by Vice-President Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha and Chief of Staff to the President, Prof Ibrahim Gambari. The ministers who are also physically attending the meeting include those of Information and Culture, Lai Mohammed; Finance, Budget and National Planning, Zainab Ahmed; Justice, Abubakar Malami; Industry, Trade and Investment; Adeniyi Adebayo; and Power, Mamman Saleh. Other ministers, as well as the Head of Service of the Federation, Dr. Folasade Yemi-Esan, are participating in the weekly cabinet meeting from their various of...
Federal government okays N20.1 billion for Nigerian customs equipment
The federal government has approved a total of N20,114,002871 for the acquisition of various operational equipment for the Nigerian Customs Service (NCS). The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this to State House Correspondents after the federal executive council (FEC) meeting presided over by Vice President, Yemi Osinbajo at the presidential villa on Wednesday. The Minister said further that Council also approved the sum of N539,277,673 for the construction of the Federal Inland Revenue Service (FIRS) building at the Ilupeju Medium and Small Taxpayers’ office in Lagos. On the breakdown of contracts approved for Customs, the Minister said a total of 427 operational vehicles, worth N14.55 billion and nine assorted gunboats worth N5,564,002,871 were a...
Court urged to restrain Nigerian government on £4.2 million James Ibori loot
The Federal Government has been sued over its planned use of the £4.2million linked to former Delta State Governor James Ibori. The President, League of Ndokwa Professionals (LNP), Chief Tony Amechi and Legal Adviser, Evans Ufeli, on behalf of the people of Delta State, are challenging the Federal Government’s plan to deploy the funds to projects outside Delta. The Attorney-General of the Federation (AGF), the Federal Executive Council (FEC) and the Minister for Finance are the defendants. In their originating motion, the plaintiffs seek a declaration that the first and second defendants’ decision to deploy the yet to be repatriated sum of £4.2million belonging to Delta State government (when repatriated) for Federal Government’s projects is unconstitutional and repugnant to natural justic...
House minority caucus flays $1.5 billion approval for rehabilitation of Port Harcourt refinery
The Minority Caucus in the House of Representatives Tuesday described the approval of $1.5 billion for the rehabilitation of the Port Harcourt refinery as a huge scam and a ploy by unscrupulous elements to siphon public funds. The Federal Executive Council (FEC) had recently at its virtual meeting presided over by President Muhammadu Buhari approved $1.5 billion for the rehabilitation of the refinery. But, the caucus in a statement by its Leader, Hon. Ndudi Elumelu, while rejecting the amount, said the figure is outrageous and heavily inflated, demanding an immediate review of the cost. The lawmakers noted that while they are in support of any genuine effort to bridge energy deficit in Nigeria, such should not be used as a ploy by corrupt individuals to fleece the nation. The caucus called...
TUC opposes sale of Port Harcourt refinery
File Photo The Trade Union Congress (TUC) is opposed to the sale of the Port Harcourt Refinery as canvassed by many Nigerians, its secretary-general, Musa Lawan, has said. The Federal Executive Council last week approved $1.5 billion (about N600 billion) for the rehabilitation of the 210,000 barrels per day refinery. The FEC approved the amount at its virtual meeting presided by President Muhammadu Buhari. The approval came amidst a controversial price increase in the pump price of petrol that was later reversed. Although Nigeria has four refineries, all government-owned, it currently imports virtually all its refined petroleum products. The approval for the Port Harcourt Refinery was greeted with mixed feelings as the country in the past spent billions of dollars on refinery maintenance w...
Nigerian government approves three power sub-stations for Kano, Benue
The Federal Executive Council (FEC) has approved contracts for the construction of three sub-stations in Kano and Benue States as well as for the extension of transmission lines in Umuahia, Abia State and Mbano, Imo State. The Minister of Power, Engr. Mamman Sale, announced this after the 37th federal virtual cabinet meeting presided over by President Muhammadu Buhari, on Wednesday. Sale said council approved the construction of three sub-stations, two in Kano State and one in Benue State. He put the cost for the extension of transmission lines in Abia and Imo States at $506,324.40 plus N34,034,000 local content. “On the amount for the construction of three sub-stations in Zaki-Biam, Benue State and Bichi and Kanyi, Kano State – the one in Zaki-Biam is $8.6 million, while the local content...
NPHCDA: States yet to meet conditions won’t get coronavirus vaccines
National Primary Health Care Development Agency, NPHCDA, said, yesterday, that states yet to meet the criteria for COVID-19 vaccines would not get a share of the 3.92 million AstraZeneca vaccines received by the country on Tuesday. Executive Director of the agency, Dr Faisal Shuaib, who disclosed this at a State House briefing in Abuja, also said President Muhammadu Buhari and Vice President Yemi Osinbajo would be vaccinated publicly tomorrow, while members of the Federal Executive Council, FEC, would have theirs on Monday. He said: “After we are able to get our strategic leaders to publicly demonstrate that these vaccines are safe, the plan is to now go to the state level to start the launch at the treatment centres of the states and also get strategic leaders, such as governors, to publi...
FEC approves multi-billion naira roads construction contracts
In keeping with its infrastructural development mantra especially in the road sector, the Federal Government has approved a multi-billion naira roads construction projects across the country especially the completion of Benin-Ore-Adebamdele-Shagamu Road at the cost of N92.5 billion. This cheering news was dropped Wednesday by Minister of Works and Housing, Babatunde Raji Fashola, who told State House Correspondents after the weekly Federal Executive Council presided over by President Muhammadu Buhari at Council Chambers of the Presidential Villa Abuja that Council approved all four memoranda on roads projects his ministry presented at the meeting. Fashola said FEC approved all four memoranda he presented with respect to Benin-Ore-Adebamdele- Shagamu Road, particular the section from Adebam...
Nigerian government approves new debt management strategy
The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023. With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable. The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years. It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader mac...
