Funds
Rivers governor: Why I shun building more state universities
Governor Nyesom Wike on Monday said he was apathetic to establishment of more Rivers State owned universities because of the enormous challenge of adequately funding such institutions to effectively meet set development objects. Wike at the flag off of Emohua Campus of the Rivers State University (RSU) in Emohua Local Government Area said he was rather concerned about committing more funds to state’s existing varsities so they can offer needed holistic grooming for requisite man power for the country. However, a dissenting voice, Enefaa Georgewill of Rivers State Civil Society Organisation (RIVSCO) accused Wike of “expressing hypocrisy” in his disposition on ground that RSU multi campuses the state has embarked on under Wike amounted to building more varsities in disguise. Wike had stated,...
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
Group urges President Buhari to suspend NDDC forensic audit
The South South Reawakening Group, has called for the immediate suspension of the ongoing forensic audit of the Niger Delta Development Commission (NDDC), describing it as a “circus of corruption”. Converner of the group, Joseph Ambakederimo, in a statement, urged President Muhammadu Buhari to appoint a board for the NDDC to start a new phase for the development of the region. According to them, it was no longer news that the forensic audit ordered by the President has now been turned into “a circus for mismanagement and misappropriation of public funds to oil the machinery of political interests of a few, while the region and its people continue to suffer the perpetual psychological torture of these buccaneers.” The group recalled that the NDDC is still presently being run by an interim s...
Anambra election: PDP aspirant urges delegates to shun monetary inducement
Dr Godwin Maduka, a major contender for the gubernatorial ticket of the Peoples Democratic Party (PDP) in the Nov. 6 election in Anambra has urged party delegates to shun financial inducement. Maduka, America-based medical practitioner-cum politician, made the call while addressing journalists on Sunday in Awka on the need for party delegates to cast their votes without fear or coercion. He advised delegates to shun monetary inducement and develop boldness to vote for a candidate who has the capacity to develop the state.a He said though he has enough money to buy delegates at any cost but saw an act as undemocratic and should be discouraged for the people to get a sound polity. “Our delegates should be political active and not be passive any more in affairs that concerns their generation ...
Plateau university applauds governor for facilitating N3 billion federal government impact intervention
Twitter Vice Chancellor of Plateau State University Bokkos (PLASU), Prof. Yohanna Izam has applauded Governor Simon Lalong for facilitating N3 billion Federal Government high impact intervention into the Institution. He noted that the governor also approved the released of funds for the accreditation of 15 programmes in the University to meet up with global academic practices. Prof. Izam disclosed this yesterday during the maiden Alumni Award and dinner of the University, where an award of Excellence was presented to Governor Simon Lalong by the University for approving the returned of Academic activities on assumption of office which was suspended by his predecessor, Jonah David Jang. “We are glad that Governor Simon Lalong has facilitated the Federal Government intervention of N3 billion...
SEC sets deadline for crowdfunding platforms registration
File Photo The Securities and Exchange Commission has directed all existing investment crowdfunding portals/digital commodities investment platforms to note the requirements and eligibility criteria for raising funds through and/or operating a Crowdfunding Portal and comply with the registration requirements or cease operations by the 30th of June, 2021. This was contained in a notice released by the Commission on Wednesday. According to the SEC, the rules governing Crowdfunding business in Nigeria came into effect on the 21st day of January, 2021, which was part of efforts by the Commission to ensure investor protection while encouraging innovation in the conduct of securities business. “In line with the transitional provisions of the Rules, all persons/entities operating an investment cr...
House summon AGF over ‘blockage’ of $60 billion repatriation
The House of Representatives has again summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) for allegedly halting the repatriation of $60 billion loot from Texas, United States of America. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots – Movable and Immovable Assets from 2002 to 2020 by Agencies of the federal government for Effective Efficient Management and Utilisation, Rep. Adejoro Adeogun, summoned Malami on Wednesday in Abuja when a former Special Prosecutor to the Special Presidential Investigation Panel (SPIP), Mr Tosin Ojaomo, appeared before it. He also revealed that before the panel which was headed by Okoi Obono-Obla was disbanded, it investigated the Auditor General of the Federation for the withdra...
SERAP urges President Buhari to tell Nigerians spending plan for James Ibori loot, others
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “urgently direct Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning to disclose spending details of the $700 million looted funds reportedly recovered by the Federal Government in the past four years, including the list and location of projects completed with the money, as well as details of the contractors that executed the projects.” SERAP also urged him to “direct Mrs Ahmed to disclose how the government plans to spend the returned £4.2m Ibori loot, including details of planned capital expenditure, and whether there is any plan to ensure that the money and any future returned Ibori loot would be spent to achieve justice and effective remedies for victims of corruption in...
James Ibori loot: Delta asks federal government to return recovered fund to state
Delta State Government on Tuesday reacted to receipt by the Nigerian government of the £4.2 million first tranche of the Ibori loot from the goverment of the United Kingdom. The state government restated its earlier stand that since the returned money was illegally taken out of Delta’s Treasury, it should appropriately be returned to Delta State. This is coming on the dissolution, on Tuesday, of the Delta State Executive Council (EXCO) with Governor Ifeanyi Okowa asking the Secretary to State Government (SSG), all civil commissioners and the governor’s aides to surrender all vital government documents and property to their respective permanent secretaries in the ministries, departments and agencies. The outgoing state commissioner for information, Mr Charles Aniagwu, reiterated the positio...
Barcelona secure 500 million Euro loan
Barcelona have secured a €500m loan from Goldman Sachs, with €100m arriving immediately to cover unpaid wages. Like many of the clubs who had signed up to the Super League project, Barca are struggling financially in the wake of the COVID pandemic and in need of fresh funds. President Joan Laporta has seemingly found the key with a loan worth €500m from American investment bank Goldman Sachs. ESPN claim there will be €100m arriving immediately, so Barcelona can settle outstanding payments owed to players. The club’s gross debt is said to now be almost €1.2 billion. Sources told ESPN the situation with outstanding payments was so bad that the squad was preparing to take the matter to the Spanish Footballers’ Association. Barcelona agreed with the players to defer payment of their wages duri...
Ogun governor suspends aide arrested for ‘fraud’ in US
The governor of Ogun State, Dapo Abiodun, has suspended his aide, Abidemi Rufai, who was arrested in the United States for an alleged $350,000 (about N140 million) COVID-19 unemployment fraud. Kunle Somorin, Abiodun’s chief press secretary, confirmed the suspension to newsmen on Tuesday. This was also confirmed to newsmen by the chief press secretary to Abiodun, Kunle Somorin. “Our position is that the law should take its course,” Somorin said in a WhatsApp interview. “Meanwhile, the governor has ordered his immediate suspension from office to answer charges against him.” Sources within the government told newsmen that the governor took the action immediately he was briefed about Rufai’s arrest. This newspaper earlier reported that Rufai, Senior Special Assistant to Abiodun, was arrested l...
Firm cautions Nigerian government over sale of national assets
Agusto Consulting has cautioned the federal government over its plan to relinquish national assets to private hands, saying, the risk involved is unquantifiable. Agusto Consulting, in a report titled “Rethinking Nigeria’s Models for Infrastructure Development,” noted that, the benefits of relinquishing control to the private sector are glaring, but remain difficult to implement. Noting that the federal government’s handing off certain critical assets of the country that have been dormant over the years will positively impact on the country’s budgetary allocation, but added that this decision has caveats and risks associated with operating models that involve private sector participation regardless of the levels of participation. “First is the high level of corruption in the country and the...
