News

Reps Query NIPC Over N3.12bn Expenditure In Q1 Of 2024

Published

9 months ago

May 30, 2024

By Gloria Ikibah

The House of Representatives has queried the Nigeria Investment Promotion Commission for recording an expedite of N3.15 billion, despite submitting a revenue of N2.89 billion in the first quarter of 2024.

This was at the continued investigation by the House Committee on Finance to monitor revenue by Ministries, Departments and Agencies of the Federal Government on Thursday in Abuja.

The Director, Finance and Administration of the agency, Akwada James, disclosed to the committee that the amount was a projected expenditure for the year.

“Why it is that is because our income does not come at a time. So we have done committed spending in the budget for the year,” James said.

Chairman of the Committee, Rep. James Faleke queried why the agency would budget for what it had not carried out yet.

“The revenue collection for first quarter 2024 is 2.89b and your expenditure for that same period is 3.15b. If you are giving us revenue for a quarter, the expenditure for that quarter should be stated not the whole. How can you give me expenditure for the whole year?” the Committee Chairman queried.

James said this was a format given to them by the budget office.

“No sir, we don’t like that format here. It’s confusing. How can you tell me you generated N2.8 billion and on record you spent N3.1 billion and we ask where did you get the money and who gave you the authority to spend above budget,” Faleke questioned.

The Committee also queried the agency for spending 20 percent of his revenue in 2023.

“A fully funded agency is supposed to remit their revenue 100 percent. So you spent money illegally. On what authority did you approve the usage of that money?” Faleke queried.

James said it was based on the budget and their engagement with Ministry of Finance.

According to him, they were authorised by a letter to do so.

“I would like to see letter that authorized you to spend that 20 percent else we would charge all of you personally.

“We would write and ask that the money spent be deducted from your salaries until it is fully refunded. I need that letter on Monday.

“Fiscal Responsibility Commission (FRC), I need a report of your sessions with NIPC and why they spent 20 percent of their IGR and there has not been any query from your agency,” Faleke said.

The Chairman of the Fiscal Responsibility Commission, Victor Mururako, represented by Mrs Victoria Adizou-Angakuru, said they had not received NIPC’s audited financial statements since 2019.

Faleke directed that the Managing Director of NIPC appear before the committee on June 5, 2024 with their comprehensive records.

“The best approach is to invite the accountant general. In view of the contradictions, we would keep our documents and let the accountant general come and tell us what is responsible for this discrepancies for a fully funded agency,” Faleke said.

News

Reps Direct FCT Minister to Appoint Auditor-General for FCT Area Councils

Published

44 minutes ago

February 27, 2025

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has urged the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to appoint a substantive Auditor-General for the Area Councils without delay, in accordance with legal provisions.

This decision was sequel to a resolution adopted during the Public Accounts Committee (PAC) hearing on Wednesday, 26th February 2025, in Abuja.

The committee noted that the absence of a substantive Auditor-General had hindered the signing and submission of audited financial reports, a process mandated by the constitution.

During the session, the Acting Auditor-General for the Area Councils, Abdullahi Ibn Salihu, made a presentation, and in response, the committee chairman, Rep. Bamidele Salam, emphasised the urgency of the matter, leading to the adoption of a motion for immediate action.

He said: “Honourable colleagues, I think we should also step into this. Like I said, when we resumed in October 2023, the Office of the Auditor-General for the Federation in Nigeria was vacant for about 2 years. The former President, President Muhammadu Buhari refused to make an appointment. And so, audit reports were not submitted. So, when we came in, myself and the Senate counterpart decided to write letters to the President and make some advocacy upon which a substantive was appointed.

“If they have the same case, I think we will also need to step in so that we can call on the Minister. We may need to write to him and invite him. Maybe he has reasons why that appointment has not been made. I think we should. We should actually have a resolution on this also”.

Earlier, during a review of the financial reports of FCT Area Councils, Acting Auditor-General, Abdullahi Ibn Salihu, clarified that most of the financial discrepancies flagged by the committee occurred under previous administrations, as he has only been in office for six months.

Key concerns raised included the failure to submit audited financial reports for 2023-2024, non-remittance of pension deductions to the Pension Commission (PENCOM), and the withholding of available audit reports from the committee.

Rep. Billy Osawaru stressed the need for strict enforcement of legal provisions against the Auditor-General’s office, insisting that such lapses must not persist.

To ensure a thorough review, a five-member sub-committee, led by Rep. Tochukwu Okere, was established to investigate and provide recommendations. Other members include Rep. Ajiya Abdulrahman, Rep. Mandara Usman, Rep. Mauruff Adebayo, and Rep. Mohammed Bargaja.

In attendance were Abuja Municipal Area Council (AMAC) Chairman, Hon. Christopher Zakka Maikalangu, and Bwari Chairman, Hon. John Gabaya, while Kuje and Kwali were represented by their vice chairmen.

News

Day 3: Retired Nigerian police officers continue protest on Police Bills(Photos)

Published

1 hour ago

February 27, 2025

Naijablitznews

By Emmanuel Agaji

Association of Retired Police Officers, Kaduna chapter protest on Police Bills entered day three today, February 27, 2025, Thursday at the National Assembly.

Naijablitznews reports that some of the placards being displayed by the retired simply indicate that the output and input of November 19th, 2024 public hearing on the Bills should be implemented.

They equally supported the fact that the police force should exit the contributory scheme.

The very aged retired officers could be seen sighted sitting under the son bearing placards which they display for motorists to look at.

See photos:

News

Just in: Police restore Obasa’s security details, withdraw Meranda’s as ex-Lagos speaker set for return

Published

2 hours ago

February 27, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Mudashiru Ajayi Obasa who was impeached as speaker of the Lagos House of Assembly on January 13, 2025, is set to return.

Daily Trust understands that his security details have been restored just as those of Hon. Mojisola Lasbat Meranda, have been withdrawn.

Meranda was Obasa’s deputy before the impeachment. After his removal, the house unanimously elected Meranda, making her the first female to occupy the position in the history of the state.

Though she’s yet to officially resign as the Speaker of the House, her fate was reportedly sealed over the weekend by key All Progressives Congress (APC) leaders who intervened in the crisis rocking the House of Assembly.

Former National Chairman of APC, Chief Bisi Akande, former Governor of Osun State, Chief Olusegun Osoba, former Commissioner for Justice, Dr. Muiz Banire and members of the Governance Advisory Council (GAC) and some of the lawmakers had met over the weekend to find a resolution to the crisis.

It was at the meeting that the fate of Meranda was sealed as she was reportedly asked to vacate her seat.

There are indications that Obasa might return as the Speaker as following the resolutions reached by the leaders which largely favoured Obasa’s return.

“In truth, what they said was that Obasa’s removal was illegal and the lawmakers were directed at the meeting to go and return him,” sources familiar with the matter had said.

It was not clear yet when the House would reconvene to effect the expected changes.

Meranda had adjourned plenary indefinitely two weeks ago when there was commotion in the assembly as a result of invasion by operatives of the Department of State Services (DSS).