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March 30 no Longer Feasible for Budget Passage — Reps

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House of representatives
  • March 30 no Longer Feasible for Budget Passage — Reps

About 86 out of the 96 standing committees of the House of Representatives have failed to produce any report on the 2017 budget.

The development is an indication of more delays for the N7.29tn budget.

The Committee on Appropriations wrote the House for the second time on Thursday to complain that “over 80 per cent” of the committees had not reported on the budget.

This implies that just about 10 out of the 96 committees had produced their reports after over three weeks of consistently failing to meet the deadline for the submission of the reports.

The committee’s complaint, which was read to members on the floor of the House by the Speaker, Mr. Yakubu Dogara, noted that the House might be forced to pass all executive proposals in the budget in the absence of the committees’ reports.

“Three weeks after the deadline, over 80 per cent of standing committees have yet to submit their reports,” Dogara read from a document submitted to the House by the Chairman, Committee on Appropriations, Mr. Mustapha Dawaki.

Most of the committees had unresolved issues with ministries, departments and agencies of the Federal Government regarding the details of their budget proposals.

As of Friday, investigations showed that the committees were still struggling to reconcile figures after receiving budget details from “a number of MDAs.”

Our findings also indicated that without the reports, the budget would not be passed by the legislature.

Similarly, a source in the Committee on Appropriations said there were unanswered questions that were supposed to guide the committee taking decisions.

The source said, “For instance, will the budget size increase or reduce? Are we retaining $42.5 as the benchmark? Are we retaining the proposed N305/dollar exchange rate or it will change?”

Speaking on the issue, the Chairman, House Committee on Media and Public Affairs, Mr. Abdulrazak Namdas, confirmed that the March 30 date scheduled for the passage of the budget by the National Assembly was no longer feasible.

Namdas explained that apart from the committee reports not being ready, the Federal Executive Council was approving additional projects to be included in the 2017 budget.

“There are a number of issues and we can’t promise that March 30 is sacrosanct. There is a new budget software different from the one in use before, and besides, the FEC is daily approving new projects to be included in the budget. However, we will try our best to ensure that all the committees submit their reports,” he said.

On its part, the Senate has extended the period for which its committees are to submit their reports on the 2017 Appropriation Bill to the Committee on Appropriations for harmonisation, it was learnt on Friday.

The committee is expected to present a unified report to the Senate for passage.

The upper chamber of the National Assembly said the delay was caused by other legislative work, including the confirmation hearing held for the acting Chairman, Economic and Financial Crimes Commission, Mr. Ibrahim Magu, and the summon and appearance of the Comptroller-General, Nigeria Customs Service, Col. Hameed Ali (retd.).

The lawmakers had planned to pass the budget on March 8, 2017.

The Chairman, Senate Committee on Media and Public Affairs, Senator Sabi Abdullahi, who is also a member of the Committee on Appropriations, told one of our correspondents that the submission of reports was expected to be concluded this week.

He said, “I don’t know anything about deadlines; we have a time line. But if you look at the way we have been working, other things have interrupted the process and the period of work. We are making efforts to see that by next week, we are able to conclude the receipt of reports.”

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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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.

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

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Israel Gaza

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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