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FG to Spend N4.8bn on Villa Maintenance in 2018

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  • FG to Spend N4.8bn on Villa Maintenance in 2018

The Federal Government is proposing to spend N4.86bn in the 2018 fiscal year on maintenance of the Presidential Villa, Abuja.

The budgeted amount for next year when compared to the N4.95bn allocated for annual routine maintenance of villa facilities in the 2017 budget represents a decline of about N90m.

In the 2016 budget, the sum of N3.91bn was allocated for annual routine maintenance of the Presidential Villa by the Federal Government.

The N4.86bn amount for this year is part of the N11.54bn total allocation made for the state house headquarters in the proposed 2018 budget.

The State House has a total capital allocation of N7.1bn while recurrent expenditure was estimated at N4.43bn

In 2017, the state house had a budget of N11.02bm made up of N6.52bn for capital project while recurrent expenditure was estimated at N4.49bn.

The 2018 budget was submitted last Tuesday to a joint session of the National Assembly by President Muhammadu Buhari.

It has a total allocation of N8.61tn made up of N3.49tn for recurrent, N2.43tn for capital while debt servicing and statutory transfers among others are to gulp the sum of N2.01tn and N456bn respectively.

A breakdown of the state house budget shows that apart from the N4.86bn for annual maintenance, there are outstanding liabilities of N565.65m for routine maintenance for 2016.

In the same vein, the sum of N907.1m was budgeted for phased replacement of vehicles, spares and tyres in the presidential security/police escort, while N284.58m was allocated for renovation work at state house security quarters.

The budget proposal also has a provision of N93.6m for electronic document management system, N17.74m for upgrade of state house library, N28.9m for upgrade of villa ranch and construction of wildlife conservation and N83.7m for purchase of tyres for bulletproof vehicles, ambulances and other utilities and operational vehicles.

The Minister of Budget and National Planning, Udo Udoma, had on Tuesday during the public presentation of the 2018 budget, said the government would continue to spend more on ongoing infrastructure projects that had potential for job creation and inclusive growth.

He said the Federal Government would continue to leverage private capital and counterpart funding for the delivery of infrastructure projects.

The minister said for 2018 capital projects, the government would carry out huge projects in transportation, power, works, housing, health, water resources, agriculture and rural development, mines and steel development, industry , trade and investment, and education.

For instance, he said N35.4bn had been provided for Federal Government National Housing Programme, N10bn for second Niger Bridge, N294bn for construction and rehabilitation of major roads nationwide, N8.9bn for procurements of vaccines, over N50bn for water supply, rehabilitation of dams and irrigation projects nationwide.

He added that N25.1bn had been earmarked for promotion and development of value chains across 30 different commodities, N4bn for agri-business and market development, N46.3bn for special economic zone projects across the geopolitical zones to drive manufacturing and exports and N19.28bn in form of tax credits to support export through Export Expansion Grant, among others.

Budget unacceptable, a misnomer- CACOL, Junaid, others

However, a civil-society organisation, Centre for Anti-Corruption and Open Leadership, condemned the budget for Aso Rock Villa, saying it was “unacceptable and a misnomer.”

The CACOL Director, Debo Adeniran, said, “Several items in the Aso Rock Villa budget are repeated annually and no changes are carried out. You are still going to have budget for kitchen utensils, furniture and others. This is the problem of our budget and the reason why the government has gone ahead with such bogus amounts is because there is no accountability, probity and transparency. If people can raise questions, we can force the amounts down.

“Basically, it is a misnomer and an administration preaching change must not allow such bloated budget. We have just heard about the Aso Rock clinic fraud which was brought to light by even the wife of the President.”

Also, a Second Republic lawmaker, Dr Junaid Muhammed, described as unacceptable the budgeted amount for the installations, noting that the budget needed to be scrutinised.

Muhammed said, “I share the concerns of many Nigerians that many items in the 2018 are bloated and unacceptable. If only we will take time to scrutinise the budget, we will find many of such unnecessary items such as the one in focus.

“That the cost of the maintenance of the installations at the villa, put at N4.86billion is more than the installations themselves is laughable and shows that the present government is not being sincere with itself. Such is very unacceptable.”

It is unnecessary, says CIFCN registrar

Commenting on the allocation for maintenance of the villa, the Registrar, Chartered Institute of Finance and Control of Nigeria, Mr. Godwin Eohoi, said the huge allocation was unnecessary at a time when Nigerians were experiencing economic hardship.

He said, “That kind of huge allocation for maintenance of the presidential villa is an expenditure that should not be encouraged at a time when the government is involved in huge borrowing to finance its operations and when a majority of Nigerians are suffering the biting economic hardship.

“The government should set its priorities right by ensuring that many of the bad roads are fixed. Why budget such huge amount of money for maintenance of the Villa when many people don’t even have food to eat?

“That amount that was budgeted for maintenance should have been reduced drastically to free up funds for other infrastructure projects.”

The office of President Muhammadu Buhari was repaired after the President came back from 81 days’ medical trip in London, the United Kingdom on August 19.

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

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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.

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

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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.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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