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$1bn Not for Anti-Boko Haram War Alone, Osinbajo Says

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  • $1bn Not for Anti-Boko Haram War Alone, Osinbajo Says

Vice-President Yemi Osinbajo on Tuesday said the much-criticised $1bn that state governors asked the Federal Government to withdraw from the Excess Crude Account was not meant for the fight against insurgency alone.

He said the sum was meant for all security challenges being experienced in all the states of the federation.

Osinbajo gave the clarification at the opening of the Secretary to the Government of the Federation/Secretaries to State Governments’ retreat at the Presidential Villa, Abuja.

It will be recalled that the Chairman of the Nigerian Governors Forum, Abdulaziz Yari, had, at a meeting of the National Economic Council last Wednesday, announced that the governors had asked the Federal Government to withdraw $1bn from the ECA to fight insurgency.

The decision had attracted criticisms from groups and individuals, including the Ekiti State Governor, Ayodele Fayose; and the opposition Peoples Democratic Party.

But Osinbajo explained that the governors resolved to approve the money for national security after a national security summit organised by the National Executive Council about two months ago.

He said the summit considered various security challenges across the country, including kidnapping, small arms trafficking, terrorist activities of Boko Haram in the North East, clashes between herdsmen and farmers, as well as cattle rustling.

The Vice-President said, “It was on account of the security summit that the governors at the Governors’ Forum subsequently decided that they would vote a certain sum of money, which has become somewhat controversial, the $1bn, to assist the security architecture of the country.

“It was to assist all of the issues in the states, including policing in the states, community policing, all of the different security challenges that we have.

“It was after the security summit that the Governors’ Forum met across party lines –again, I must add — in order to approve and to accept that this is what needed to be done to shore up our security architecture.”

Osinbajo’s explanation was, however, in contrast with the statement made by the Edo State Governor, Godwin Obaseki, while addressing State House correspondents at the end of the NEC’s meeting.

Obaseki was clear in his presentation that the $1bn was approved for the fight against insurgency.

He had said, “Pleased with the achievements that have been made till date in the fight against insurgency, particularly in the North East, the governors of Nigeria through their chairman announced at the NEC meeting that the governors have given permission to the Federal Government to spend the sum of $1bn on the fight of insurgency.

“This money is supposed to be taken from the Excess Crude Account.

“As you know, the issue of security, particularly with regard to the North East, is a very comprehensive response by federal forces.

“So, we expect that the contribution of the states to these efforts will cover the whole array of activities required to secure the country and counter insurgency.

“We expect that the amount will include but not limited to purchase of equipment, procuring intelligence and logistics and all what is required to ensure that we finally put an end to the scourge of insurgence.”

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

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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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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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