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We Owe Contractors N15bn, Yet NASS Reduced Lagos/Ibadan Expressway Budget to N10bn – Fashola

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The Minister of Power, Works and Housing, Babatunde Fashola
  • We Owe Contractors N15bn, Yet NASS Reduced Lagos/Ibadan Expressway Budget to N10bn

The Minister of Power, Works and Housing, Mr Babatunde Fashola, has raised alarm over the insertion of projects outside the purview of his ministry in the 2017 Appropriation Act by the National Assembly.

Fashola, a senior advocate, said it was unfair to the Executive arm for the inclusion of such projects after public hearings on the budget and defence of the fiscal estimates by the ministries.

“What I have in my budget now is primary healthcare centres, boreholes,’’ he said at an interactive session with editors on Thursday.

“That was the meeting we had with the Acting President and that was the reason why the budget was not signed on time.

“We were asked to complete those abandoned projects; the budget of Lagos-Ibadan Expressway was reduced by the National Assembly from N31bn to N10bn.

“We are owing the contractors about N15bn and they have written to us that they are going to shut down.

“Also, the budget of the 2nd Niger bridge was reduced from N15bn to N10bn and about N3bn or so was removed from the Okene-Lokoja-Abuja road budget.’’

“Everybody is complaining about power supply but they also cut the budget for Manbila power project and the Bodo bridge that connects the Nigeria Liquefied Natural Gas Station was also cut and all these were also discussed.

“If after we have defended the budget and we had gone and the legislature unilaterally changed the budget, what is the purpose of deliberation?’’

According to Fashola, it is unfair to Nigerians after public hearings were conducted with taxpayers’ money and consultations with the lawmakers only for the budget to be altered, cut or padded.

The minister said that apart from the 200 uncompleted roads he inherited from the previous administration, the lawmakers added 100 roads.

“These roads are not federal roads and some of them do not have designs, how do we award roads that were not designed irrespective of the power you have?

“It is unconstitutional for the National Assembly to legislate on state roads.

“A budget is an estimation plan that set in motion what is to be spent, how much will be borrowed and how much will be collected.

“The executive controls all the machinery for collecting taxes and other revenue with relevant data from the Ministries of Finance, Physical Planning and the Budget Office and others.

“I am not saying that the legislature cannot contribute to the budget, but I hold the view that it cannot increase the budget because they do not collect the revenue with which to run or implement the budget,’’ he said.

Fashola, who held sway as Lagos State Governor between 2007 and 2015, canvassed interdependence and collaboration among the three arms of government rather than independence to ensure a harmonious relationship.

The minister said that without it, the country would not make progress and would be bogged down by the politics of total separation of power and what he called “power of example rather than example of power.’’

“The society benefits more from the power of example and interdependence rather than the example (show) of power; it requires that we show good examples.’’

On the concept of interdependence, Fashola said the President and the Vice-President could not swear themselves into office, but are sworn in by the judicial arm, while the president also proclaims the National Assembly without which it could not start business.

In the same vein, he said the National Assembly confirms ministerial nominees and justices of the courts who are in turn sworn-in by the executive.

He urged the intervention of the judicial arm of government to set the necessary parameters and set things right.

Fashola, however, blamed the electorate for putting pressure on the lawmakers and expecting them to do what was outside their constitutional duties of law-making, representation and oversight.

“There is need for mass orientation and enlightenment for Nigerians not to expect their elected representatives to provide roads, water, light and execute capital projects which is the function of the executive arm.’’

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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