Mr Victor Muruako, Chairman, Fiscal Responsibility Commission (FRC) says that many states are yet to implement the Fiscal Responsibility Act.
Muruako said this during an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.
He said that some states had passed the law, but were yet to set up fiscal responsibility agency.
“Some did not exactly passed the law, they just tried to have it, and even some that passed it just have it on record and are yet to implement the law.
“As we speak about 26 states have adopted the law and are at various stages of implementation.
“For some states, their Governors have not signed the law, some that have signed it into law are yet to set up the agencies, so as we speak it’s s a work in progress,” he said.
He said he domestication of the Fiscal Responsibility Act was necessary to promote prudence in management of resources in states.
“When the need arouse for the Federal Government to bail out states, there was an agreement of two conditions that must be met.
“Part of which is the need for the sub-nationals to engage in reforms; one of the reforms is to pass the fiscal responsibility law, Audit law and Procurement law at their level,” he said.
Muruako commended the Nigerian Governors Forum for creating an enabling platform for peer review at sub-nationals.
He said that the Commission was engaging the Forum to ensure that all states adopt and implement the Fiscal Act.
“The forum has been a veritable forum to assist and they have done a lot to ensure that states engage in reforms,” he said.(NAN)(www.nannews.ng)
A vessel conveying 800,000 litres of suspected stolen crude oil has been intercepted by a private security contractor engaged by the Nigerian National Petroleum Company Limited (NNPCL).
The vessel and its crew members were apprehended on July 7, by operatives of Messrs. Tantita Security Services at an offshore location heading to Cameroon.
Mr Garba Muhammad, Chief Corporate Communications Officer, NNPCL., said this in a statement on Monday Abuja..
He said the Vessel, MT TURA II, IMO number: 6620462, was owned by a Nigerian company, HOLAB MARITIME SERVICES LIMITED with Registration Number RC813311.
Muhammad said that preliminary investigations revealed that the crude oil cargo on-board was illegally sourced from a well jacket offshore in Ondo State, Nigeria.
“There was no valid documentation for the Vessel or the Crude Oil Cargo on-board at the time of the arrest.
“Further investigation into the activities of the vessel at the NNPC Ltd. Command and Control Centre also revealed that the Vessel has been operating in stealth mode for the last 12 years.
“The last reported location of the Vessel was Tin Can Port in July 2011,’’ he said.
He further said that the details of the arrest and the outcomes of the investigations were escalated to the appropriate government authorities.
This, he said, was to destroy the Vessel to serve as a strong warning and deterrent to all those participating in such illegal activities.
According to him, destroying vessels involved in transporting stolen crude oil is of paramount importance as a strong deterrent.
“The illegal trade of stolen crude oil not only inflicts significant economic losses on Nigeria and legitimate stakeholders in the oil industry, but also perpetuates a cycle of corruption, environmental devastation, and social instability.
“NNPC Ltd. assures Nigerians that we will sustain the momentum in the war against crude oil theft until it is brought to a halt,’’ he said. (NAN) (www.nannews.ng)
The Federal Capital Territory Administration (FCTA) on Monday demolished houses and structures allegedly erected illegally in Gishiri community in Katampe District of the territory.
Officials of the Development Control Department of the FCTA, accompanied by joint security personnel, stormed the area with two bulldozers and pulled down the structures.
Mr Samson Atureta, District Monitor, Katampe and Mabushi District, FCTA, who led the team, said the exercise was part of continued efforts to reclaim lands developed by illegal occupants.
Atureta, a town planner, said the illegal occupants erected the structures on peoples’ plots, allocated for residential and commercial buildings, including those for educational and religious purposes.
He said the exercise started about two months ago, adding that, “this is our fourth visit to remove illegal structures and extensions in the community.
“There are many illegal developments and extensions in the Gishiri community, that is why we are clearing it for the rightful owners to take possession of their plots.
“So, what we are doing here is to ensure that those developments either in the form of buildings or extensions, are removed.
“So far, we have removed more than 100 illegal structures in the area,” he said.
He assured residents that the houses of indigenes and those with legal papers would not be tempered with.
He said that owners of the affected structures were duly notified about the intended demolition, adding that final notice had been issued a week ago, asking the occupants to remove their valuables and vacate the area.
One of the affected residents, who simply identified herself as Mama Blessing, said they were not given enough time to leave.
Blessing, who operates a drinking joint, appealed to the FCTA to provide them an alternative place to relocate.
“We are not rejecting the demolition exercise because we know that it is government land, but demolishing our houses and structures without providing an alternative place for us is really painful,” she said. (NAN)(www.nannews.ng)
Mr Adesola Olusade, Permanent Secretary, Federal Capital Territory Administration (FCTA), has said that harmonisation and digitisation of revenue collection would enhance its tax collection.
Olusade said this during a one-day town hall meeting on revenue harmonisation, on Monday in Abuja.
The theme of exercise is: “Harmonisation Drive: Shaping Our Future Together”.
The News Agency of Nigeria (NAN) reports that the meeting was organised by the FCT-Internal Revenue Service (FCT-IRS).
According to Olusade, the adoption of modern technology, digital platforms and efficient processes, the FCT will enhance the effectiveness and efficiency of revenue collection.
This, he said would not only improve service delivery but also contribute to the ease of doing business, thereby making FCT an attractive destination for local and foreign investors.
“It will lead to increased revenue generation, which in turn will provide the necessary resources to invest in critical sectors such as healthcare, education, transportation, and infrastructure development.
“This will directly impact the lives of residents, improving access to quality healthcare, enhancing educational facilities, and ensuring a well-planned and sustainable urban environment,” Olusade said.
He said that streamlining and optimising revenue collection processes would enhance transparency and accountability in revenue collection, and ensure that funds were efficiently utilised for the benefit of FCT residents.
He added that the harmonisation would also eliminate duplication, reduce bureaucratic bottlenecks, and create a more conducive environment for businesses and investors.
According to him, consolidating revenue collection systems will promote fairness and equity in revenue collection, attract more investment, stimulate economic growth, and create employment opportunities.
“This will enhance the FCT’s reputation as an investment-friendly destination, contributing to the overall development of the region.
“By ensuring that all eligible individuals and businesses contribute their fair share, we can distribute the burden of taxation more equitably and reduce the tax evasion that hampers revenue generation.
“The move will enable us to provide essential services, infrastructure, and social amenities that improve the quality of life for all residents of the FCT.”
The permanent secretary, however, said that the success of the harmonisation drive would largely depend on the active participation and engagement of all stakeholders.
He commended stakeholders for their efforts, dedication and contributions, saying “together, we can create a harmonised revenue collection system that benefits all residents of the Federal Capital Territory.
“By working collaboratively and leveraging our collective strengths, we can overcome challenges, seize opportunities, and pave the way for a prosperous future,” he added.
Also, the Executive Chairman, Federal Inland Revenue Service, Alhaji Muhammad Mani, commended the FCT-IRS for making technology a pivotal point of its operational policy.
Represented by Shetitima Tamadi, Coordinating Director, FIRS, Mani said digital revolution was transforming tax administration globally, stressing the need for the revenue hamornisation drive to leverage on technology to achieve more results.
According to him, the adoption of digital platforms in revenue collection in the FCT holds the greatest prospects of streamlining operational cost, blocking revenue leakages and ensures accurate revenue data.
The Executive Chairman, FCT-IRS, Mr Haruna Abdullahi, said the harmonisation drive was not just about increasing revenue but also about building a system that works for all.
Abdullahi said that FCT-IRS Act entrusts the service with the duty to collaborate with relevant stakeholders and agencies in harmonising and improving tax practices.
“This is aimed at optimising our revenue generation efforts, while ensuring simplicity, transparency, and accountability in tax systems.
“Harmonising our revenue collection systems will unlock the full potential of our resources and pave the way for sustainable growth, improved service delivery, and enhanced quality of life for our citizens,” he said. (NAN) (www.nannews.ng)
A group, Salvage Imo Project 2023, has thrown its weight behind Sen. Samuel Anyanwu, the Peoples Democratic Party (PDP) governorship candidate for the Nov. 11, gubernatorial election in Imo.
The group made this known at its meeting attended by delegates from the 27 Local Government Areas of the state in Owerri, Imo capital.
A statement signed by the Anyanwu’s media consultant, Mike Iwuji, in Abuja on Monday said the group expressed confidence in the capacity of Anyanwu to turn the fortunes of the state around.
He quoted the president of the group, Mr Jude Okafor, as saying that it was supporting Anyanwu because of laudable antecedents and excellent achievements in the various political positions he had occupied.
“Anyanwu attracted projects to his zone and the state during his tenure as senator representing Owerri zone and empowered many youths in small scale businesses.
“Other candidates are good in their own rights but Sen. Anyanwu is better,” Iwuji quoted Okafor as saying.
Iwuji further quoted the Okafor as calling on well-meaning Imo people to support Anyanwu based on his records as former Ikeduru Local Government chairman, and representation of the area in the Imo House of Assembly.
“Sen. Anyanwu (popularly known as Samdaddy), also effectively represented Owerri Zone (Imo East) in the Senate where he was chairman of chaired notable committees.
“All these portray the PDP candidate as a grassroots politician who will consequently use his humane approach and people-oriented policies to address the numerous challenges bedevilling Imo State.
“These challenges include insecurity, lack of social welfare for Imo residents, rising inflation, poor rural infrastructural development and lack of human capital development,” he said.
He quoted Mr Franklin Eze, who spoke on behalf of the LGA coordinators as saying that serious mobilisation efforts had commenced, especially at the grassroots, to garner massive votes for Anyanwu.
A representative of Imo Business Community, Chief Felix Nwabueze, Iwuji said, urged Imo people to vote for Anyanwu because he has the interest of the state at heart.
According to him, Anyanwu emerging as the governor will be a good thing that will happen to the state.
He urged his supporters not to be violent but always play according to the rules of the game before, during and after the election. (NAN)(www.nannews.ng)
The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated its commitment to ensure full implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.
The Executive Secretary of the Board, Mr Simbi Wabote, said this at the 2023 Nigerial Oil and Gas (NOG) Energy Week on Monday in Abuja.
The News Agency of Nigeria (NAN) reports that the conference was themed: “Nigerian Content Role in Achieving Energy Security.”
Wabote said the implementation of the Act would help to drive development and utilisation of in-country capacities.
He said the NOG conference would continue to serve as an excellent platform to provide clarity, expositions, tips, and guidance to industry practitioners on the provisions of the NOGICD Act (2010).
He said it aimed to provide ministerial regulations, guidelines, tools and initiatives such as the Nigerian Content Equipment Certificate (NCEC), the Nigerian Content Intervention Funds (NCIFund) and Expatriate Quota, among others.
”We believe this will provide a good basis to facilitate the understanding of one of the key enactments guiding the oil and gas industry in Nigeria.
”We have selected three processes and initiatives for a deep dive during the panel sessions which are the NCEC, the NCIFund, and the HCD Guidelines.
”We aim to provide you the information needed on these selected topics, get feedback on faced challenges, and provide guidance on steps to resolve the challenges free of charge,” he said.
The executive secretary also dwelt on the functions of the Board as stipulated in Section 70 of the NOGICD Act.
This, he said, would serve as a refresher for some of the participants while also providing clarity on misconceptions about some of the board’s interventions.
Wabote said the board had embarked on several initiatives to assist local contractors and Nigeria companies to develop their capabilities and capacity.
”This will ensure further attainment of the goal of developing Nigerian content in the oil and gas industry.
”The board have been able to implement all these projects because of prudent management,” he said. (NAN)(www.nannews.ng)
The Nigeria Integrated Water Resources Management Commission (NIWRMC), has commenced the review of its laws that would enable it sanction all unlicensed water users in the country.
Mr Magashi Bashir, the Executive Director of the commission, made this known on Monday, at the opening of the Review of Water Use Licence Terms and Conditions Meeting, in Abuja.
According to Bashir, there is need to standardise all documents targeted at repositioning and regulating the water resources sector.
He said the non-passage of the Water Resources Bill however, had caused many irregularities in the sector, saying partnerships between all actors would reduce poor water governance.
“It is important to state that Water Use Licence Terms and Conditions is a critical component in the administration and issuance of Water Use Licence to applicants, as it determines the regime for proper licence usage by various applicants.
“The relevance of Water Use Licence Terms and Conditions can therefore, not be overestimated in anyway.
“Continuous stakeholders’ engagement in the administration of Water Resources in the Country is necessary for effective and result oriented regulations, with particular reference to Water Use Licence Terms and Conditions.”
Magashi noted that the Commission under his watch would leave no stone unturned in ensuring a continuous proper licensing regime.
He said it was his honest expectation that the forum would consolidate on the ongoing engagement between all tiers of government, for the purpose of appropriately managing Nigeria’s water resources, through effective enforcement mechanisms.
The executive director said implementing a comprehensive regulatory regime would benefit the collective interest of the country, saying participants at the workshop could make it happen by contributing meaningfully.
Earlier, the Legal Adviser for NIWRMC, Mr Rotimi Ojegbile, said before now, the legal department had made several efforts to regularise most of the commission’s documents, with little or no progress made.
Ojegbile said with the commitment of the present leadership however, the commission had made that possible, saying it was necessary for all frameworks to stand the test of time.
The legal adviser, represented by Ms. Ikemhe Ekwere-Bello, urged all participants to brainstorm and contribute meaningfully, so that water use was regulated and done properly.
Dr Emmanuel Udoh, delivering a paper on ‘Optimising Water Allocation Through Revised License Terms and Conditions’, said there was need for Nigeria to strengthen its weak and fragile institutions.
Udoh said climate change challenges called for appropriate measures to mitigate them, noting that though section 11 of the Water Resources Act gave individuals access to water use, it must however, be used sustainably.
He said key considerations on Revised License Terms and Conditions must include sustainability and long-term water management, through equity and fairness in water distribution.
“We must adapt to changing climatic conditions and water scarcity by integrating regulatory frameworks, such as the environmental protection and incorporating stakeholder perspectives and public participation into all aspects”.
Mr Chinesonu Okpoko, a legal expert, said currently, there was no effective water resources data management system for the country.
Okpoko said the unavailability of adequate and reliable data, upon which analysis, planning, management and decision-making could be based on, had crippled the water licensing system.
The News Agency of Nigeria (NAN), reports that the Water Resources Act 2004, empowers the Minister with responsibility for matters relating to water resources, as the lead in charge of water resources development, licensing, planning, and use.
Sections 11-19 of the Act deals with issuance of water use licences, licensing fees, power to fix rates in connection with the abstraction of water, penalties and the issuing of regulations.
Water licensing plays a pivotal role in the sustainable management and allocation of water resources in Nigeria. It ensures equitable access to water, promotes efficient use, and safeguards the environment.
While challenges persist in its implementation, continued efforts to improve water licensing systems are essential for addressing water scarcity, promoting sustainable development, and protecting Nigeria’s water resources. (NAN) (www.nannews.ng)
L-R: 1st Vice President, CIBN, Prof. Pius Olanrewaju, Managing Director/CEO, NOVA Merchant Bank Ltd., Mr Nath Ude, President/Chairman, CIBN, Ken Opara, National Treasurer, CIBN, Mrs Mojisola Bakare-Asieru, and Registrar/Chief Executive, Akin Morakinyo, at the Generation Next Forum Pre-Confrence briefing at the Bankers House, on Monday in Lagos
By Lydia Ngwakwe
Lagos, July 10, 2023 (NAN) The Chartered Institute of Bankers of Nigeria (CIBN) says it is introducing human capital development fund to retrain, build capacity and help young professionals in the banking and finance industry to grow their career.
The President/Chairman of Council, CIBN, Dr Ken Opara, said this at a pre-conference media briefing on the maiden edition of the CIBN Generation Next Forum, scheduled for Aug. 3, to be held physically in Lagos and virtually.
The maiden edition of the Generation Next Forum is aimed at empowering and inspiring young professionals, especially the Gen-z and millennials in the banking and finance industry.
He said that such capacity building would help to mitigate the effects of departure of employees, while those that remain would regain and build their interest.
The News Agency of Nigeria (NAN) reports that the event will have the theme, “Industry 5.0 Banking Revolution: Insights for Generation Next’’.
Opara said, “once we build capacity, and the youth understand that they have a future, they have a career that they can look up to, obviously the attrition level will be reduced.
“But more importantly, the institute has championed the development of human capital development fund which is meant to build capacity and help the younger ones to build their career,’’ he said.
He said that the forum would have subject matter experts come to address the issue of capacity gaps.
According to him, they will build capacities, train, retrain and help the younger ones to discover their relevant potential in key areas such as fintech, financial services, and small businesses, among others.
Opara said that there would also be a coaching and mentoring clinic, where people would have issues bordering to their careers and businesses answered by experts and practitioners.
He said this would inspire people within and outside the country to continue to have hope in the country and to see the opportunities in Nigeria.
Opara said, “the generation next forum will also provide a robust platform for stakeholders to examine the criticality of the Fifth Industrial Revolution and its profound impact on the banking and finance industry, especially as it affects the young generation.
According to him, this has been a cardinal focus of his agenda as the 22nd President and Chairman of council of the institute.
“From available statistics, Nigeria has the largest population of youths in the world, with a median age of 18.1 years. About 70 per cent of the population are under 30 and it is not controvertible that the future belongs to this segment of the population.
“We believe that the future is now, as such our focus is to attract, groom, mentor, prepare and collaborate with this special segment to get them ready for the task ahead,’’ he added.
Opara said that the forum would bring together over 5,000 participants, comprising majorly Gen-Z and Millennial participants, decision-makers, operators, and other key players within the financial services ecosystem.
He said the event would serve as an avenue for tech enthusiasts to showcase their innovative ideas, foster collaborations, and explore opportunities that arise from the convergence of technology and finance.
He expressed the confidence that the forum would inspire a new generation of banking professionals, facilitate knowledge sharing, and foster the development of innovative solutions to address the challenges in the society.
Mr Nath Ude, Chairman of the Planning and Organising Committee for the Generation Next Forum, said that the forum would essentially provide mentorship opportunities for talented youth who are eager to carve a path towards becoming future banking professionals.
Ude, who is the Managing Director, Nova Merchant Bank, also said that Gov. Babajide Sanwo-Olu of Lagos would be the Special Guest of Honour at the forum.
He named other distinguished thought leaders to speak at the plenary session as Reeta Roy, President/CEO, Mastercard Foundation; Iyin Aboyeji, Founding Partner, Future Africa; Eizu Uwaoma, Founder and CEO, Hexavian Group.
Others are, Nefe Etomi, Expansion Strategist and Operation Lead. Paystack Payment Ltd.; Fela Durotoye, Founder/CEO Gemstone Group; Sim Shagaya, Founder, uLesson Educational Ltd.; Stanley Jacob, CEO of Stanbic IBTC Financial Services Ltd.; Ade Bajomo, President Fintech Nigeria, and Yvonne Johnson, Managing Director/Co-founder, Indicina.
Aero Contractors in collaboration with Umza Aviation Services has assured speedy transportation of all Nigerian pilgrims assigned to it back home within a shortest possible time.
Alhaji Abubakar Maifata, the Chairman of Umza Aviation Services, who is coordinating the 2023 Hajj operation for the two companies, gave the assurance in an interview with the News Agency of Nigeria (NAN) on Monday in Makkah.
NAN reports that Aero contractors is one of the Nigerian air carriers approved by the Federal Government to transport about 7,318 pilgrims to Saudi Arabia and back to Nigeria.
Maifata stated that the airline had since begun the outbound movement of the Nigerian pilgrims despite constraint arising from lack of adequate slots at the King Abdulaziz International Airport, Jeddah.
According to him, the airline has so far done one flight with about 475 pilgrims of Nasarawa State.
“But we are constraint with lack of adequate slots given to us by the Saudi authority to operate within King Abdulaziz International Airport, Jeddah. And this didn’t apply only to the Aero Contractors, it is applicable to all the Nigerian carriers.
“However, we held series of meetings with the National Hajj Commission of Nigeria, Saudi Arabian General Authority of Civil Aviation (GACA) and the Saudi Ministry of Hajj and Umrah on how to get out of the situation so that the Nigerian carriers can have adequate slots to transport pilgrims back to home.
“And I think it was agreed at the meeting that slots will be given to the Nigerian carriers and they have promised to do that between now to 15 of this month (July).”
He revealed that presently Aero contractors had secured additional two slots to transport pilgrims on July 12 and 13.
“As I’m talking to you, we were given two slots to operate on the July 12 and 13, and I am sure all the Nigerian carriers were given, some two, three to four slots to operate between now and July 14, and they promised also to make more slots available after July 15.
“We only did one flight on July 8 with 475 passengers from Nasarawa State and we hope to do second and third flight on July 12 and 13, respectively.”
The chairman appealed to all Nigerian pilgrims to exercise more patience and consider their continued stay in Saudi Arabia as an act of worship.
“I want to use this opportunity to, on behalf of all the Nigerian carriers, to appeal to all Nigerian pilgrims to be more patient. I want to assure them that all the problems are being resolved.
“And God willing in the next one to two days they will see lots of movement of pilgrims back home. It’s something that is not intentional on any part from the Nigerian air carriers.
“It’s a situation that we found ourselves and a lot of efforts are being made and solutions are being gotten and in the next couples of hours everything will be ok. I want to assure them that all the Nigerian air carriers are equal to the task,” said Maifats.
NAN reports that the National Hajj Commission of Nigeria (NAHCON), on Saturday said the commission was yet to get additional approval for the outbound movement of pilgrims to Nigeria through King Abdulaziz International Airport, Jeddah, Saudi Arabia.
The NAHCON’s Commissioner of Operations, Alhaji Abdullahi Hardawa, made this known at a news conference in Makkah, the Kingdom of Saudi Arabia.
He, however, said that the Saudi Arabian General Authority of Civil Aviation (GACA) had invited airlines responsible for the transportation of Nigerian pilgrims to an operational meeting.
He said the officials of NAHCON were also part of the meeting, adding that at the end of the meeting the commission might have slots approved for the transportation of pilgrims back to Nigeria. (NAN) (www.nannews.ng)
The Tertiary Education Trust Fund (TETFund) has engaged the National Association of Nigerian Students (NANS) to monitor its projects in tertiary institutions across the country.
The Executive Secretary, TETFund, Sonny Echono, while presenting a 30-seater bus to NANS in Abuja on Monday, said this is necessary to put contractors on check.
Echono said that the fund was also committed, through constant dialogue with NANS to meet students’ needs, noting that they are the centre of any policy of education.
”Education is about students and how to equip them with the right skills and knowledge to contribute to development.
”TETFund is consulting with them to find out their needs and with significant engagement, we want them to be our eyes in tertiary institutions.
”This is because when something is giving in our campuses, we should have multiple aid of getting the information we want.
” We want to identify in each campus a contact person to confirm whether our intervention is yielding fruit,” he said.
The executive secretary said that the fund also had a similar engagement with staff unions to help monitor projects on campuses with the aim of harvesting expectations.
He added that the fund would continue to work with students to improve on students accomodations through Public Private Partnership (PPP) and the private sector.
He said that the donation of the bus was to address transportation issues on campuses.
Responding, the National President of NANS, Usman Barambu, commended the fund for donating the bus following their request to President Bola Tinubu few weeks ago.
Barambu said that students don’t actually benefit directly from TETFund and so laid this particular complaint which had yielded results.
He assured the fund to put thorough check on TETFund projects on campuses while also ensuring contractors carry out their assigned contracts dutifully.
”TETFund has been helpful to higher education.
”When we tabled our request with the president, we said to him that over 90 per cent of projects executed in tertiary institutions is done be TETFund.
”We will ensure we do our best to monitor the contractors in our campuses for proper monitoring of projects
”There should also be a disciplinary measure put in place to sanction contractors that deviate in what they are supposed to do,” he said.(NAN)(www.nannews.ng)
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