All Posts in "Day: July 15, 2021"

Danbatta Showers Encomiums  On  Retired Deputy Director

ITREALMS: Danbatta, others extol retired deputy director, Jerry Ugwu - ITREALMS
The Executive Vice Chairman of Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta and other staff of the Commission, have commended the dedication, hard work and outstanding work ethics exhibited  by Jerry Ugwu, a Deputy Director, who recently retired from the service of the commission.
A statement issued by Director, Public Affairs, Dr. Ikechukwu Adinde explained that Ugwu joined NCC in 2010 as Chief of Staff in the office of the Executive Vice Chairman and has moved through the ranks, culminating in his last-held position as Head, Legal Registry Unit in the Legal and Regulatory Services (LRS) Department of the Commission,
Ugwu left  the telecoms regulatory agency, at the mandatory retirement age of 60 years.
Speaking at the valedictory session organised by the Commission in his honour in Abuja,Danbatta described the celebrant as a dedicated and exemplary staff with excellent work ethics.
Represented by NCC’s Executive Commissioner, Stakeholder Management, Adeleke Adewolu, Danbatta said Ugwu made significant impact in various capacities where he served in the Commission, adding that his dedication to work and gentleman posture are well acknowledged by Management.
“Jerry Ugwu is a pleasant personality; reserved but resourceful. He is a gentleman who is contented and has served the Commission creditably in the past one decade. We, therefore, wish you happy retirement,” Danbatta said.
In her opening address, Director, LRS, Josephine Amuwa, said Ugwu had “served meritoriously in various capacities over the years and contributed his quota to the growth of the telecoms sector.”
She said Jerry’s great personal attributes, such as his analytical skills, deep understanding of the Law, devotion and dedication to work will stand him in good stead in his future endeavours, saying that all the staff of Legal and Regulatory Services Department, will surely miss him, particularly his calm disposition to work.
“This is a day of celebration not only for all you have accomplished but also for all the possibilities that will be unfolding before you. Congratulations! We pray that the Almighty God give you the wisdom and strength needed to fulfill all your personal aspirations, post-retirement. Enjoy the new chapter of your life and enjoy being your own boss; say ‘Goodbye!’ to tension and ‘Hello!’ to your pension,” she added.
Ugwu thanked the commission for the opportunity given to him to serve his country and also appreciated his colleagues for orgainsing a befitting retirement. “I am humbled to hear all these good comments that have been said about me and I am grateful to all of you for organising this valedictory party in my honour,” he said.
Online Editor by — July 15, 2021 in IT&Telecoms 0
NIMASA Justifies Deep Blue Project

Deep Blue Project: Signed, sealed and delivered | The Guardian Nigeria News - Nigeria and World News — Business — The Guardian Nigeria News – Nigeria and World News
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA),
Dr Bashir Jamoh, has reiterated that assets deployed under the Deep Blue Project, recently launched by President Muhammadu Buhari, are manned by proficient officers from the Nigerian security services.
According to a statement byOsagie Edward, Assistant Director, Public Relations, Dr. Bashir Jamoh, stated this in Lagos during   the graduation ceremony of officers trained to crew the Special Mission Vessels, the main maritime component of the project also called the Integrated National Security and Waterways Protection Infrastructure.
Dr. Jamoh, who was represented by the Agency’s Executive Director, Operations, Mr. Shehu Ahmed, said the graduation of 30 officers trained in various part of the globe marked a significant addition to the team of competent personnel manning assets under the maritime security scheme.
According to him “this event is remarkable. It guarantees us competent manpower required to man the Special Mission Vessels. It is a further indication of our commitment to bequeathing a crime free maritime domain to Nigerians and the global maritime community.”
The Director General also stated, “Early in the year and in line with a Presidential directive, we deployed the Special Mission Vessels and the Fast Interceptor Boats to the Lagos Port Secure Anchorage Area. But the event of today takes us further to the full deployment of the two Special Mission Vessels with fully trained and certified crew”.
The coordinator of the Deep Blue Project, and Director, Planning, Research and Data Management Services Department (PRDMSD), NIMASA, Mr. Anthony Ogadi, said the crew had nine foreign and 10 local trainings on various platforms of the Deep Blue Project under the supervision of the project contractor, HLSI. Ogadi stated that some local trainings for the operation of other assets under the maritime security scheme, including the Special Mission Aircraft, Unmanned Aerial Vehicles, and armoured personnel carriers were simultaneously on-going at Ikeja and Ojo in Lagos, and Elele in Rivers State.
Speaking on behalf of the crew, Captain of DB Lagos, Captain Uche Aneke, and that of DB Abuja, Captain Mohammed, thanked NIMASA for facilitating the training. They assured the Agency that they would carry out their duties with a high sense of proficiency and professionalism.
Online Editor by — July 15, 2021 in Maritime 0
Supreme Court Stops  FG From Ceding 17 Oil Wells To  Imo 

The Supreme Court has  granted an order of injunction stopping the Federal government and it’s agencies from ceding 17 disputed oil wells located at Akri and Mbede to Imo state.
The order of injunction was granted to stop an alleged implementation of the ceding of the 17 oil wells to Imo state  pending the hearing of a suit filed at the Supreme Court by the Rivers state government.
The court also  stopped the Revenue Mobilisation Allocation and the Fiscal Commission, RMAFC, and the office of the Accountant General of the Federation from approving, implementing, or giving effect in any manner to a letter from RMAFC office, with reference number RMC/O&G/47/1/264 of July 1, 2021, which canceled the equal sharing of proceeds from the 17 oil wells by Rivers and Imo states.
The apex court gave the restraining order while ruling on an ex-parte application brought by Rivers state.
Online Editor by — July 15, 2021 in Law/Human Rights 0
 Power Sector Failures Won’t Frustrate Us-Gbajabiamila

Hope for Nigeria Gbajabiamila reveals responsible for power sector failure - Hope for Nigeria
 Speaker of the House of Representatives,Hon.Femi Gbajabiamila,has said that the age-long failures of the power nation’s power sector should not put Nigerians in helpless state
 According to him, surrendering to the power sector challenges in the country was not an option as the country needs to continually find lasting solution to the perennial problem therein.
He spoke  in a remark to an investigative hearing on planned privatization of the Niger Delta Power Holding Company Plants, organized by the House of Representatives joint committees on Power, Privatization and Commercialization.
Represented by Honourable Toby Okechukwu, Deputy Minority Leader, the Speaker said inspite of the huge resources invested in the power sector, it has failed to meet the demands of Nigerian people.
He said the  power sector – the policies, systems, commercial and governing interests around generating, storing, transmitting, and distributing electricity to power homes and industries is a critical component of our national economy.
He said it is an area that has been the subject of multiple interventions by governments, and billions of dollars in local and foreign investments,adding that it is  also a  sector that has unfortunately failed to deliver on the demand and expectations of the Nigerian people.
“Despite this history of failure, and of resources expended without result, we do not have the option of putting our hands up and walking away.Without an effectively functioning power sector, we will never be able to build the industries, power innovation and create enough jobs to cater to the large and rapidly expanding number of young people in our country. We will not be able to give our people the quality of life that allows them to dream big dreams and achieve grand aspirations.Therefore, our only option is to try to get it right, to correct the mistakes of history and make the future better for all our nation’s people.
“The Federal Government of Nigeria has proposed to sell five (5) power plants under the National Integrated Power Project (NIPP) to raise liquidity to bridge the funding gaps in the power sector, while at the same time bringing in private investors who have the expertise, the resources, and the expressed desire to make sure these plants operate optimally.Our purpose in the House of Representatives through this investigative hearing, and other interactions with stakeholders is first to review the policy process that led to this decision to understand the presumptions and expectations that have motivated this policy decision. Then we will examine the process of privatisation as designed and implemented by the relevant Ministries, Departments and Agencies of the Federal Government of Nigeria to make sure that the process follows due process of the law. Above all else, we are here to make sure that the best interests of the Nigerian people inform every point of the process.
“To succeed in this regard, we will work with stakeholders – the private sector, labour, community leaders, and civil society. We will compel information from the government. And we will be guided by the submissions of experts from across the power sector value chain so that the recommendations that emerge from this process will be grounded in a thorough understanding of the issues and as such capable of meeting the present and future needs of our country”, the Speaker stated.
Meanwhile,the Managing Director of Niger Delta Power Holding Company, Chiedu Ugboh
has lamented the country’s integrated power plants, NIPP suffer starvation from gas supply to power their operations.
Ugboh ,who disclosed this while addressing lawmakers at an investigative hearing organized by the joint House of Representatives committee on Power, Privatization and Commercialization in Abuja,also lamented that despite the company’s capacity to generate more than 5000 megawatts of electricity, to is compelled to generate just 700 megawatts for sale due to lack of distribution capacity by the distribution companies.
“We have been to many places to look for gas, even in Geregu, we don’t have a single molecule of gas. Papalanto, the same thing. There’s no gas anywhere to run these plants which is a huge constraint”,
Speaking on the company’s existing assets and the intervention it has made, the MD said: “The NDPHC has 10 power plants with the generation capacity of over 5000 megawatts. In addition to power generation, NIPP also intervenes in transmission projects, of which we have 41 of them.”
“We added 6460MVA and 2686 kilometers of high tension kV lines for the Transmission Company of Nigeria.TCN is using these assets now but the legal transfer is yet be done to get the TCN to pay for them.All States of the federation are beneficiaries of our distribution intervention. 374 distribution projects such as injection substations, over 4000 11kva lines which once finished will be transferred to the distribution companies for use following the legal transfer is completed.
Online Editor by — July 15, 2021 in Power 0
GTBank Reorganizes,Appoints Miriam Olusanya As New MD

GTBank appoints Miriam Olusanya as managing director - Businessday NG
Guaranty Trust Bank Plc has completed its re-organisation to a Holding Company Structure with a view to strengthening its long-term competitiveness and growth prospects in the nation’s banking sector.
A new operating company has been established and amendments made to the articles of incorporation for a corporate name change.
Besides,under the terms of the reorganisation,the corporate name of Guaranty Trust Holding Company Plc and GTCO Plc will be used by the newly established operating company.
The  Guaranty Trust Holding Company Plc,also announced its new Board of Directors as well as changes to the Board of its banking subsidiary, Guaranty Trust Bank Limited.
According to a statement,Guaranty Trust Holding Company Plc (“GTCO Plc”) will be governed by a Board of Directors comprising, Mr. Sola Oyinlola as Chairman of the Board and Mr Segun Agbaje as the Group Chief Executive Officer, Mr Adebanji Adeniyi as Executive Director, Mrs Cathy Echeozo as Non-Executive Director, Mr. Suleiman Barau and Mrs. Helen Bouygues as Independent Non-Executive Directors
The banking subsidiary, Guaranty Trust Bank Limited will be governed by a Board of Directors comprising, Mr Ibrahim Hassan as Chairman of the Board, Mrs Miriam Olusanya as Managing Director, Mr Jide Okuntola as Deputy Managing Director, Mr Haruna Musa as Executive Director, Mr Olabode Agusto as Independent Non-Executive Director, Ms Imoni Akpofure and Mrs Victoria Adefala as Independent Non-Executive Directors.
All the appointments have been approved by the Central Bank of Nigeria and disclosed to the Securities and Exchange Commission and the Nigerian Exchange Group.
Commenting on the completion of the Corporate Reorganization, Mr Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We believe that a Holding Company Structure will allow us take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base. We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships. As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.
He further stated that, “Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success. As a Proudly African and Truly International band, we will continue to live by these values—of excellence, hard work and integrity, even as we create faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.”
Before its corporate reorganization to Guaranty Trust Holding Company Plc, GTBank Plc has been at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders.
It is widely regarded as the best managed financial institution in Nigeria and has, over the past decade, embarked on a period of unparalleled growth, growing its customer base from less than 3 million customers in 2011 to over 24million customers in 2020, and profit before tax from ₦45.5 billion at the end of the 2010 financial year to ₦238.1billion at the end of the 2020 financial year.
Online Editor by — July 15, 2021 in Banking&Finance 0
FIRS Boss Laments Low Contribution Of Tax To GDP

Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has lamented the 6%contribution of tax revenue to the nation’s Gross Domestic Product(GDP)
Mr. Nami,who spoke at a stakeholder meeting involving the management and staff of the FIRS and the Kano business community,said the development was not encouraging for a country that has the largest economy in Africa.
He noted that tax contribution to GDP in Egypt was 15%,Ghana and Kenya at 17%, South Africa at 28%.
He said:”Presently, Nigeria’s economy relies on non-oil revenues to discharge its statutory responsibility of paying salaries and providing social amenities to the citizenry. However, despite the prospect which tax revenue holds for the country, the ‘’Tax to GDP’’ ratio for Nigeria is about 6% compared to Egypt at 15%, Ghana and Kenya at 17%, South Africa at 28%. This is a very sad reality that is unacceptable for a country that has the largest economy in Africa.
 “To overcome this challenge, we must recognise and adapt to the changing pattern of the business environment where technology is the driver of business operations.  For many years, our revenue generation architecture had been largely manual with limited use of technology. Adopting technology in tax administration is crucial in improving domestic revenue mobilization given dwindling oil prices to avoid falling into a debt crisis. It is against this backdrop that the TaxProMax became the channel for filing Naira-denominated tax returns effective from 7th June 2021.”
According to him,the TaxProMax enables seamless registration, filing, payment of taxes and automatic credit of withholding tax as well as other credits to the Taxpayer’s accounts among other features.
He added that the TaxProMax platform also provides a single view to Taxpayers for all transactions with the Service.
 “It will interest you to know that the Service collected over N650 billion in June 2021. This feat was achieved as a result of the efficiency and effectiveness of the TaxProMax Solution.”
  Another groundbreaking development that Nami pointed out which occurred under his administration is the introduction of the court-backed “FIRS Practice Direction”. According to  Nami, “this is another innovation introduced to aid revenue generation by cutting down on needless litigation which slows down revenue collection.”
 He listed the advantages which the FIRS Practice Direction conferred on tax revenue generation thus: “Cases of FIRS will be given accelerated hearing and priority in the Federal High Court; it enables the FIRS to obtain Order of the Court for forfeiture of immovable property of taxpayers, freezing of bank accounts, access to books, servers, billing systems etc; it fast-tracks the recovery of tax debts by civil action; it increases tax compliance, and increases the collection of revenue to the Government.”
    Nami also disclosed that the National Tax Policy Implementation Document had prioritised the assessment and collection of indirect taxes in Nigeria as they are difficult to dodge, easy to pay and easy to administer. He, therefore, charges members of staff at the FIRS to put the document to good use in the tax collection processes.
  He identified the challenges of tax collection in the country to include the fact that “when companies collect taxes as an agent of collection,  Value-Added Tax (VAT) for instance, they do not remit as and when due. In some cases, they do not remit it at all.”
 He appealed to defaulting corporate organisations to turn a new leaf by remitting VAT and other taxes as and when due, stressing that the consequences of not doing so under extant tax laws in the country are severe, which corporate executives would not wish to experience.
He urged the Kano business community and other taxpayers in the country to continue to take advantage of cutting-edge technologies the Service has deployed recently to pay their taxes as and when due.
  Nami also charged members of staff of the FIRS to redouble their efforts in generating tax revenue for the country by expanding the national tax net to include those still outside it.
Online Editor by — July 15, 2021 in News 0
 59 MDAs Misappropriated  N300bn- Senate

The Senate has announced that 59 federal government agencies will refund over N300 billion misappropriated funds into the federation account.
All monies illegally spent by the erring agencies between 2013 – 2015 are to be recovered and remitted into the Treasury within 60 days,the Senate said .
This development  was sequel to the Senate’s consideration of the report of the Committee on Public Accounts on the annual report of the Auditor General for the Federation on the accounts of the Federation for the year ended 31st December, 2015 (Part Ii &1).
In his presentation, Chairman of the Committee, Senator Matthew Urhoghide (PDP, Edo), revealed that 114 MDAs were queried in the 2015 audit report, of which 59 had their queries sustained after probe.
He said  the Committee also observed across board, the incessant violation of extant rules by MDAs.
The report showed that the Code of Conduct Bureau (CCB) misappropriated N995m; Ministry of Niger Delta Affairs N1.77 billion; Nigerian Port Authority (NPA) N68.9 billion, $2.3 million and €196,000.
The eering agencies include – the Nigeria Health Insurance Scheme (NHIS) N4.35 billion; Bureau of Public Enterprise (BPE) N8.84 billion; Ministry of Petroleum Resources N821.9 million; National Agency for Food, Drugs Administration and Control (NAFDAC) N1.88 billion and Mortgage Bank N369 million.
The report also disclosed that the Ministry of Niger Delta Affairs disposed 22 vehicles to various beneficiaries in May 2015 and realized N5,215,500.
Of  the 22 vehicles, eight were purchased on 23 June, and 18 August, 2014 for N106,560,000 and duly paid for. Less than one year after acquisition, six of the vehicles costing N90,870,000 were sold at a ridiculous sum of N2,172,600.
The Senate  ordered the sum of N61,436,400.00 being the understated disposable value of the vehicles be recovered and paid back to treasury within 60 days.
It directed that the sum of N4.8 million should be recovered from the statutory allocation of the Ministry after it awarded a contract of N46.4 million and granted tax waiver to the company without recourse to the tax provision of the Federal Inland Revenue Service.
The Senate further asked the ministry to remit the sum of N1.7 billion to the FIRS being the balance of the unremitted outstanding Withholding Task WHT and Value-Added Tax (VAT).
According to the report, the NHIS invested N122,893,876,023 in fixed deposit account without the approval of the Accountant-General of the Federation.
It alleged that the interest yield amounting to N3,716,805, 388.00 realized by the agency was not remitted to the to the Consolidated Revenue Fund.
The Senate panel in its recommendations, upheld the submissions of the Auditor General of the Federation (AuGF) that the agency should refund N3,716,805, 388.00 to the CRF within 60 days.
The agencies have until 60 days from July 14 to refund and return the monies to the federation account.
In his remarks, President of the Senate, Ahmad Lawan, warned that the National Assembly would involve the anti graft agencies.
Lawan said: “My advice will be, let us monitor the implementation. After the 60 days of grace, then we can take the next  approximate action.If we go to the EFCC, it is okay but at this point, I think we should give them the opportunity.What is important is to ensure that we send these resolutions to the appropriate quarters for immediate implementation.”
 Besides, the Senate faulted the Nigerian National Petroleum Corporation (NNPC) for under remitting the sum of N3,878,955,039,855.73 trillion revenue from domestic crude oil sales to the Federation Account for the period of January to December, 2015.
It implored the corporation to stop further deduction at source as this contravenes Section 162(1) of the 1999 Constitution (as amended).
It also mandated the Federation Accounts Allocation Committee (FAAC) or any other approving authority to, as a matter of urgency, approve agreed percentage which should be allocated to NNPC monthly as operational cost to ensure that their operations are not adversely affected.
These formed part of the 59 recommendations adopted by the Senate and contained in the report of the Committee on Public Accounts on the Annual report of the Auditor-General for the Federation on the Accounts of the Federation for the years ended 31st December, 2015.
The Senate charged the Federation Accounts Allocation Committee (FAAC) to fix a percentage to be allocated to Mining and Cadastral Office as cost of collection as is currently applicable to NCS (7 percent), DPR (4 percent) and FIRS (4 percent) of non-oil revenue.
On Unretired Advances involving 39 Ministries, Departments and Agencies (MDAs) to the tune of N2,296,567,084.37 billion, the upper chamber demanded the sanctioning of Accounting Officers of MDAs in accordance with the provision of Rule 3124 of Financial Regulations.
It also gave the Accountant-General of the Federation, Ahmed Idris, a deadline of 90 days to identify and sanction officers responsible for mismanagement of public funds to the tune of N54,151,360,000 billion ($274,280,000.00) as exchange loss on External Loans.
The Accountant General is expected to report back to the Senate Committee on Public Accounts within ninety days.
In addition, the Senate gave another 90 days timeline for the Office of the Accountant-General of the Federation to set in motion the process of recovery of internal loans made from other Funds which stands at N390,288,085,668.92 billion and to be paid back into the Special Funds Accounts.
The source of the loans are from the Development of Natural Resources Account, Stabilization Fund Account, 25 percent Husked Brown Rice Levy, 1 percent Comprehensive Supervision Scheme (CISS) Pool Levy, 15 percent Wheat Grain Levy, and 10 percent Rice Levy.
The upper chamber directed the Accountant-General of the Federation to recover the sum of N378,879,674.99 tax revenue from Webb Fontaine Ltd and remit same to the Federal Inland Revenue Service within six (6) months.
It also called for a review of all companies that were paid from the out-flow of one percent CISS Account which amounted to N39,557,671,843.97.
The Senate also directed the Nigerian Posts Authority to refund the sum of $37,627,939.75million (USD) to the federal government coffers due to lack of diligence in the review of NPA’s charges on a contract of Towage services.
It also mandated the Economic and Financial Crimes Commission to subject the Accounting Officer to investigation in accordance with Rule 3112 (I and II) of the Financial Regulations.
The Senate also demanded that the Director-General who authorized the disbursement of contingency provision on the contract for the rehabilitation of Lagos Habour moles to the tune of N417,099,309.06 without Federal Executive Council approval to be reported to President Muhammadu Buhari in accordance with Rule 3103 of the Financial Regulations.
On other funds diverted by the NPA, the Senate demanded a refund of various sums in local and foreign currencies, consisting of N1,075,266,599.06, $2,301,329.54 (USD), and €196,257.42 (Euros)meant for the Presidential Implementation Committee on Marine Safety and Security (PICOMSS) to the account of the National Security Adviser to the o President, contrary to a directive approved by the Federal Executive Council on February 21, 2007.
It added that the non-remittance of another N67,508,041,250.00 for 2013 and 2014 into the Consolidated Revenue Fund (CRF), being 25 percent of its Internally Generated Revenue (IGR) contravened the Fiscal Responsibility Act 2007.
It further noted that the failure to remit capitalized interest to the Consolidated Revenue Fund totaling N99,712,464.24 between 2013 and 2014 contravened Rule 236 of the Financial Regulations.
The Senate called for the sanction of the Permanent Secretary of the Federal Ministry of Petroleum Resources in accordance with Rule 3129 of the Financial Regulations and Public Service Rules 030402 over the diversion of N23,642,000.00 from the Capital Projects Funds for purchase of Sallah/Christians welfare package to staff of the Ministry.
The upper chamber queried the sums of N46,645,000.00 and N56,418,135.00 for the printing of the Ministry’s letter-headed paper, and demanded that the sum be recovered and paid back to the treasury.
It also called for the identification of the Project Accountant who authorized the diversion of N32,783,052.00 meant for IPPIS training and other programmes to bank accounts of staff of Finance and Accounts Department, instead of paying the approved amounts to beneficiaries.
The Senate demanded the refund of the amount to government coffers, including the sum of N718,911,848.00 made in the cashbook as payments to eleven corporate bodies  without documentation.
Besides, the chamber called on the Ministry to identify and present for disciplinary action, the officers behind the authorization of N98,400,000.00 in favour of a company for printing of leaflets for the Petroleum Industry Bill awareness campaign Programme; N54,000,000.00 to a company for assessment and documentation of Oil Spill sites in ten (10) states of the Niger Delta; and N25,000,000.00 for actualizing e-governance procedure.
The Senate noted that the infractions were in violation of Rule 3117.
The Senate implored the Economic and Financial Crimes Commission to prosecute within 30 days, the Officers in the Ministry of Youths and Sports (National Sports Commission) who certified the payment of N37,185,000.00 from the Capital Vote allocation.
It also directed that N2,695,985.00 be recovered from the emolument of the Director-General of the Small Medium Enterprises Development Agency (SMEDAN), who authorized that the sum be paid to individuals instead of a company’s account.
The Senate demanded the prosecution of the Accounting Officer with SMEDAN who approved the sum of N38,038,238.14 without relevant and supporting documents in contravention to extant laws.
The chamber asked the EFCC to prosecute within thirty days, officers of the Nigeria Bulk Electricity Trading PLC (NBET) who were behind the non-remittance of accrued interest on investment in Nigeria Treasury Bills.
It also sought the prosecution of officers of the National Hospital, Abuja, and the Rural Electrification Agency within the same time frame, who were involved in the diversion of N20,915,998.00 and N14,086,246.00, respectively.
Online Editor by — July 15, 2021 in News 0
PIB:FG Can’t  Claim Sole Ownership Of NNPC-Governors

The Nigerian Governors Forum (NGF) has picked holes in the part of the Petroleum Industry Bill which puts the ownership of the Nigerian National Petroleum Corporation on the Federal Government.
They expressed the concern in a communique issued at the end of its 35th teleconference meeting on Wednesday, and signed by the chairman of the forum, Kayode Fayemi
 They also expressed support the unbundling and commercialisation of the NNPC, faulted the part of the legislation that places its ownership on the federal government.
Specifically, the bill provides  that the ownership of all shares in the incorporated NNPC shall be vested with the government, and the Ministries of Finance and Petroleum shall hold the shares on behalf of the government. The shares are not transferable.
But,the governors reasoned  that given that the corporation is owned by the three tiers of government, the new incorporated entity (NNPC Limited) should be owned by a vehicle that “holds the interest of the three tiers of government” –the institution that is currently positioned to carry out this mandate is the Nigeria Sovereign Investment Authority (NSIA).
They also advocated the need for consensual action to prevent a third wave of COVID-19 in the country and implored on all state governors to revive their COVID-19 protocols and collaborate with the Nigeria Centre for Disease Control (NCDC) to take appropriate and immediate actions to flatten the transmission curve.
They approved a common template for the implementation of the Memorandum of Action signed with the Judiciary Staff Union of Nigeria (JUSUN) and the Parliamentary Staff Association of Nigeria (PASUN) on the implementation of financial autonomy for the State legislature and judiciary.
The governors  expressed  concern  over certain proposed amendments to the Principal Stamp Duties Act by the Nigerian Senate.
The amendment seeks to remove the powers to administer and collect stamp duties from the relevant tax authorities (Federal Inland Revenue Service or State Internal Revenue Service, depending on the nature of the transaction) to the Nigeria Postal Service.
The provisions of Section 163 of the 1999 Constitution requires that Stamp Duties on transactions between a company and an individual should be paid to the FIRS and returned to the State of derivation. The Forum resolved to engage with the National Assembly on the matter, NGF said.
On the sale of the Niger Delta Power Holding Company (NDPHC) Assets, the Forum said it will take a position on the planned privatisation of the assets listed by the Bureau for Public Enterprise (BPE) without due consultation with State governments who are shareholders of the company.
NDPHC, they said, is incorporated under the Companies and Allied Matters Act as a private limited liability company with shareholding fully subscribed to by the federal, state and local governments with a mandate to manage National Integrated Power Projects (NIPP) in the country.
Online Editor by — July 15, 2021 in News 0
Coronavirus Denies 23m Children Access To Basic  Vaccines 

The World Health Organization(WHO) and United Nation Children Education Fund(UNICEF) have revealed that 23 million children lost out on basic immunizations through routine immunization services in 2020.
The figure was 3.7 million higher than in 2019,according to the official report released by the two agencies of United Nations Organization on Thursday.
The figure shows  that most countries last year experienced drops in childhood vaccination rates on account of the deadly COVID-19 pandemic.
The report said the majority of these children up to 17 million are unlikely to have received even a single vaccine during the year, exacerbating already significant gaps in vaccine access.
It added most of the children  live in conflict-affected areas that are underserved remote places, or in informal or slum settings where they face multiple deprivations including limited access to basic health and key social services.
WHO Director-General, Dr Tedros Adhanom Ghebreyesus hinted that , “Even as countries clamour to get their hands on COVID-19 vaccines, we have gone backwards on other vaccinations, leaving children at risk from devastating but preventable diseases like measles, polio or meningitis.Multiple disease outbreaks would be catastrophic for communities and health systems already battling COVID-19, making it more urgent than ever to invest in childhood vaccination and ensure every child is reached.”
Ghebreyesus said in all regions,rising numbers of children miss vital first vaccine doses in 2020; millions more miss later vaccines
Disruptions in immunization services were widespread in 2020, with the WHO Southeast Asian and Eastern Mediterranean Regions most affected.
He said as access to health services and immunization outreach were curtailed, the number of children not receiving even their very first vaccinations increased in all regions.
He added:”As compared with 2019, 3.5 million more children missed their first dose of diphtheria, tetanus and pertussis vaccine (DTP-1) while 3 million more children missed their first measles dose”
Besides,UNICEF Executive Director Henrietta Fore said that , “This evidence should be a clear warning – the COVID-19 pandemic and related disruptions cost us valuable ground we cannot afford to lose – and the consequences will be paid in the lives and wellbeing of the most vulnerable.”
“Even before the pandemic, there were worrying signs that we were beginning to lose ground in the fight to immunize children against preventable child illness, including with the widespread measles outbreaks two years ago.
The pandemic has made a bad situation worse. With the equitable distribution of COVID-19 vaccines at the forefront of everyone’s minds, we must remember that vaccine distribution has always been inequitable, but it does not have to be.”
Online Editor by — July 15, 2021 in Health 0