Connect with us

Government

2017 Budget Faces Fresh Hurdle At National Assembly

Published

on

Nigeria's National Assembly
  • 2017 Budget Faces Fresh Hurdle At National Assembly

Legislators have delayed forwarding the 2017 budget to the presidency for assent after allegations of illegal alterations were raised by some members yesterday, according to a Daily Trust report.

The two chambers of National Assembly passed the budget Thursday after several months of delay.

However, it was gathered that the allegations are already creating ripples among some senators.

Many of them are said to be calling for the document to be properly scrutinised and the illegal insertions weeded out before it is presented to the presidency for assent.

Accusing fingers are being pointed at the Senate works committee as being responsible for the alterations lately discovered in the budget.

The committee is headed by Kabiru Gaya (APC, Kano) who is said to be outside the country at the moment and therefore could not be reached for comment.

Some senators claim projects approved for their constituencies are now missing in the budget just passed by the National Assembly.

Senators are also piqued that the works committee inserted into the budget projects for Trunk B and Trunk C roads which are entirely the responsibilities of the states and local governments.

“I know of some senators that have complained bitterly about it. He (Gaya) inserted even local governments’ roads in the budget. There are instances that state roads were also inserted. How can one do that? Those roads are the exclusive rights of states and local governments.

“Again, some senators complained that he tempered with their proposals for federal road projects domiciled in their senatorial districts. This is something that they’re already looking at even at the Senate level before forwarding the document to the Executive for assent,” a source familiar with the matter said yesterday.

“This is what is delaying the budget submission. But besides that, the National Assembly needs to have a clean copy without mistakes before sending it to the Executive,” the source added.

When our correspondents sought to know if the same challenge obtains in the House of Representatives, the source said no.

Another source said hopefully, all issues would be resolved within this week and a clean copy transmitted to the acting president for assent.

One lawmaker said House members were currently discussing a new sharing formula for constituency projects adopted by the leadership of the House of Reps, which surrendered N5 billion, out of its traditional N20bn, to the rest of members.

This, he said, could bring about further delays.

“You know they (leadership) used to take N20bn, but this time around they took only N15bn and left N5bn for members. So, the sharing formula is still being handled to avoid any rancour among members,” the lawmaker said.

The spokesperson of the Senate, Senator Aliyu Sabi Abdullahi (APC, Niger) was unavailable for comments as he was said to be attending a meeting last night when our correspondent called him.

Attempts to get reaction of the House spokesman, Abdulrazak Namdas (APC, Adamawa), were not successful as he was said to be away in South Africa for a Pan-African Parliament assignment.

Senior Special Assistant to the President on National Assembly matters (Senate), Senator Ita Enang, also confirmed the budget had not been transmitted to the executive.

“It is not yet transmitted but I’m in contact with the National Assembly authorities and management. They have confirmed that they are certifying page by page of the document. It will be ready within a very short period, “he said in a phone interview.

Osinbajo meets ministers, Emefiele over budget funding

Meanwhile, Acting President Yemi Osinbajo yesterday convened a meeting of the National Economic Management Team (NEMT) to review the 2017 budget.

This is even as the details of the budget, passed by the National Assembly on Thursday, are yet to be transmitted to the executive.

The lifespan of the 2016 budget has since May 5 come to an end.

Our correspondent learnt that the meeting, which was held at the Vice President’s wing of the Aso Rock Presidential Villa in Abuja, discussed the funding of the passed 2017 budget.

The National Economic Management Team, headed by Osinbajo, is the Federal Government’s think-thank responsible for the formulation of the nation’s economic policy direction.

The National Assembly had jerked up the 2017 budget from N7.298 trillion earlier proposed by President Muhammadu Buhari last December to N7.441 trillion. They also raised the proposed oil benchmark from $42.5 to $44.5 per barrels.

Yesterday’s meeting was attended by Finance Minister Kemi Adeosun, Budget and National Planning Minister Udoma Udo Udoma, Trade Industry and Investment Minister Okechukwu Enalemah, Water Resources Minister Suleiman Adamu and Minister of State for Environment, Ibrahim Jibrin.

Also in attendance were the governor of the Central Bank of Nigeria, Godwin Emefiele as well as the directors-general of the Debt Management Office, the Budget Office of the Federation, the Nigerian Investment Promotion Council and the National Bureau of Statistics, among others.

A government official, who was at the meeting that lasted over three hours, told our correspondent that the session brainstormed on how to make funds available for the budget after the presidential assent.

The official, however, stressed that the Presidency was still awaiting official transmission of the budget from the National Assembly.

“The meeting discussed the funding of the 2017 budget. It is on how to make sure that once the budget is signed, the resources that will be utilised to fund it are available. The meeting also discussed how funds will be released.

“The budget is still in the National Assembly. We are still waiting for the formal transmission of the budget document that was passed last week,” the official said.

Osinbajo’s spokesman, Laolu Akande, also confirmed via Twitter that the meeting reviewed major issues including the 2017 budget.

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.

Continue Reading
Comments

Government

Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

Published

on

Netanyahu

Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

Continue Reading

Government

EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

Published

on

Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

Continue Reading

Government

Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

Published

on

NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending