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Buhari Orders EFCC to Return N10bn to NBC

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  • Buhari Orders EFCC to Return N10bn to NBC

President Muhammadu Buhari has approved the return of N10bn seized from the National Broadcasting Commission by the Economic and Financial Crimes Commission.

The Director-General of NBC, Mallam Is’haq Kawu, said this in Abuja on Thursday at a press conference to announce the 20th edition of Africa Broadcasting Conference and Exhibition coming up in Abuja next week.

The money is part of the funds realised by the NBC from the controversial sale of frequency to MTN Nigeria Communications Limited.

The funds had been a subject of probe by the EFCC following allegation that the broadcast regulatory agency failed to remit it to the Treasury Single Account at the time prescribed by the Federal Government.

The NBC had claimed that the funds were meant for projects being executed for the country’s migration to digital broadcasting.

Kawu said the funds would be channelled towards projects and programmes aimed at achieving the transition to digital broadcasting for which a deadline of June 2017 had been set.

He added that the NBC was planning to establish a content development for the broadcast industry as the era of digitisation was expected to create immense need for content development as a result of multiple channels to be witnessed in the new era.

The NBC boss said, “We are going to assist a lot of young people to get finances for the production of their contents. We are thinking in terms of content development fund within the NBC and the NBC also provides opportunity for young content providers.”

According to Kawu, a 10 per cent increase in the digitisation of the broadcast industry is predicted to create one million new jobs.

Meanwhile, the Minister of Information and Culture, Alhaji Lai Mohammed, has given assurance that the digital switchover from analogue television would be achieved in the Federal Capital Territory before the end of the year.

Mohammed gave the assurance after a guided facility tour of Pinnacle Communication Limited – the licensed signal distributor of the DSO in the FCT and Trefonics, a manufacturer of Set-Top-Boxes.

He said it was imperative to ascertain the level of preparation of all the stakeholders in order to ensure a successful roll-out in Abuja.

The minister said, “We are very much on track but I think it’s important to understand what the Digital Switch Over entails. It entails that all the component actors be ready.”

He expressed satisfaction with the signal distributor as well as the Set-Top-Box manufacturer, adding that they were on track to meeting the switch over date.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Government

Senate Suspends Senator Abdul Ningi for 3 Months Over Budget Padding Allegations

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Abdul-Ahmed-Ningi

The Senate has announced the suspension of Senator Abdul Ningi for three months following his allegations of budget padding to the tune of N3.7 trillion in the 2024 budget.

Ningi, who represents Bauchi Central and chairs the Senate Committee on Population, had made the claims in a recent interview with the Hausa service of the BBC.

During a plenary session, Senator Olamilekan Adeola, the Chairman of the Senate Committee on Appropriations, raised a motion to address Ningi’s allegations, citing the urgent need to address what he termed as “false allegations.”

The transcript of Ningi’s interview was read on the Senate floor, prompting deliberation on the appropriate action to take.

Initially, Senator Jimoh Ibrahim proposed a 12-month suspension for Ningi, but Senator Chris Ekpeyong moved to reduce it to six months.

Eventually, Senator Garba Maidoki amended the motion further, suggesting a three-month suspension.

The amended motion was put to a voice vote, and Senate President Godswill Akpabio announced the decision to suspend Ningi for three months.

Following the ruling, Ningi was escorted out of the Senate chamber by the Sergeants-at-arms.

The suspension comes amidst division within the Senate over Ningi’s claims, with some senators disowning his allegations and calling for a thorough investigation.

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Ekiti Governor Unveils Multi-Billion Naira Relief Programmes Amid Economic Crisis

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Biodun Oyebanji

Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, has announced a comprehensive relief package aimed at alleviating the hardship faced by the people of the state.

The relief programs encompass various sectors to cushion the impact of the economic downturn.

One of the key initiatives entails clearing salary arrears amounting to over N2.7 billion owed to both State and Local Government workers.

This move signifies the government’s commitment to addressing the financial burdens faced by its workforce.

Furthermore, Governor Oyebanji has approved a substantial increase of N600 million per month in the subvention of autonomous institutions, including the Judiciary and tertiary institutions.

This augmentation is intended to enable these institutions to implement wage awards in alignment with State and Local Government workers’ salaries.

In addition to addressing salary arrears, the relief programs extend to pensioners, with the approval of payments totaling N1.5 billion for two months’ pension arrears.

Moreover, an increase in the monthly gratuity payment to state pensioners and local government pensioners will provide additional financial support, totaling N200 million monthly.

The relief initiatives also encompass agricultural and small-scale business sectors.

The allocation of funds for food production and livestock transformation projects underscores the government’s commitment to enhancing food security and economic sustainability at the grassroots level.

Governor Oyebanji emphasized that these relief programs are part of the state’s concerted efforts to mitigate the adverse effects of the economic downturn and foster shared prosperity.

The comprehensive nature of the initiatives reflects a proactive approach towards addressing the challenges faced by Ekiti State residents.

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President Tinubu Orders Immediate Settlement of N342m Electricity Bill for Presidential Villa

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President Bola Tinubu has directed the prompt settlement of a N342 million outstanding electricity bill owed by the Presidential Villa to the Abuja Electricity Distribution Company (AEDC).

This move comes in response to the reconciliation of accounts between the State House Management and the AEDC.

The AEDC had earlier threatened to disconnect electricity services to the Presidential Villa and 86 Federal Government Ministries, Departments, and Agencies (MDAs) over a total outstanding debt of N47.20 billion as of December 2023.

Contrary to the initial claim by the AEDC that the State House owed N923 million in electricity bills, the Presidency clarified that the actual outstanding amount is N342.35 million.

This discrepancy underscores the importance of accurate accounting and reconciliation between entities.

In a statement signed by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the Presidency affirmed the commitment to settle the debt promptly.

Chief of Staff Femi Gbajabiamila assured that the debt would be paid to the AEDC before the end of the week.

The directive from the Presidency extends beyond the State House, as Gbajabiamila urged other MDAs to reconcile their accounts with the AEDC and settle their outstanding electricity bills.

The AEDC, on its part, issued a 10-day notice to the affected government agencies to settle their debts or face disconnection.

This development highlights the importance of financial accountability and responsible management of public utilities.

It also underscores the necessity for government entities to fulfill their financial obligations to service providers promptly, ensuring uninterrupted services and avoiding potential disruptions.

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