The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has said that the best way Nigeria can advance its global economic interest is to get the regulation of the maritime sector right. The Director General, who spoke in an interactive session with news men, said that 90 percent of global commerce is conducted via sea borne trade and Nigeria is strategically placed between the West and Central Africa which puts it at a global advantage. “If we must advance our global economic interest, then we must ensure that we get the maritime industry right, precisely the regulation of the industry.” Dr. Peterside said that in recognition of the fact that there is need to make Nigeria a global voice in the Maritime Sector, adding that the Agency has come up with various interventionist programmes that would speedily impact positively on the sector alongside the restructuring, reforming and repositioning of the Agency. The Director General said that the Agency is concluding the process of acquiring a modular floating dry dock that would allow Cabotage vessels and other vessels calling at our Ports to be able to maintain their boats in-country and save the much needed foreign exchange, in addition to creating employment opportunities for Nigerians. The NIMASA boss said that about 400 vessels participate in the Cabotage trade and that at least 5,000 vessels call at the nation’s ports, “but yet, most of them routinely take their vessels outside the country for regular dry docking and maintenance, thereby making the country lose a lot of foreign exchange.” [myad]
The United States of America Department of State, has called on the Nigerian government to protect and defend the rights of members of the Islamic Movement in Nigeria (IMN), popularly known as Shiite. The US said that members of the Shiite community, like other religious communities, have the right to assemble, peacefully express their religious beliefs, and mark their celebrations. In a statement by the Spokesperson of the Department of State, John Kirby, the US said that it is also incumbent on members of the IMN and all Nigerian citizens to respect the rule of law and cooperate with the police as they attempt to maintain public order. “We continue to urge the government to ensure accountability for the deaths of more than 300 IMN members during December 15, 2015 clashes between the IMN and security forces in Zaria, Kaduna State. “We also call on the Nigerian government to conduct a transparent investigation of the latest incidents and bring to account anyone responsible for violating the law.” The statement said that the United States is deeply concerned by the deaths of dozens of Nigerians during clashes between individuals participating in a Shiite procession and the Nigerian Police Force in Kano State on November 14. It said that while the matter is still under investigation, “we are troubled by the apparent disproportionate response by the police. This is the latest in a series of violent incidents between security forces and members of the Shia Islamic Movement of Nigeria (IMN), some of which have resulted in deaths, destruction of property, and the arbitrary detention of IMN members. “The United States calls for calm and restraint on all sides, a reduction of tensions, and greater communication between Shia citizens and government authorities.” Meanwhile, the Shiite members have alleged that a combined team of security and Kaduna State government personnel have demolished the Fudiyya Islamic School at Zaria and the Husainiyya in Saminaka. The sect, in a statement said that the Fudiyya Islamic School in Zaria is a registered educational facility of the Islamic Movement in Nigeria with nursery, primary and secondary sections with hundreds of pupils studying there. “The Husainiyya in Saminaka was under construction when the Wahhabis lured the KDSG to stop the construction. The government used state resources and filed a case before the court and a court order was issued for the construction to be stopped which the IMN complied with. “The KDSG never issued any notice before this demolition. They didn’t also show any court order authorizing them to that effect. They simply came with bulldozers along with heavily armed security personnel and commenced the demolition of the Islamic center. “In the process of demolishing the Fudiyya School in Zaria they shattered the tomb of late Alhaji Hamid Danlami which the bulldozer ran over. The security agents became spectators when miscreants at the scene were busy looting and carting away valuables of the school. “We are aware that the Nasir El-Rufai-led Kaduna state government is in a mission trying to provoke IMN members to justify another killing spree on them having failed in an earlier attempt using security men dressed as thugs to attack, kill and loot property of IMN members. “We are also aware that the state government is planning to clampdown on IMN members in the state, killing as many as possible in the most cruel means possible, in order to scare people away from the IMN. The Elrufai government is also wasting scarce state resources in sponsoring some dubious religious clerics to preach hate and enmity in the state, rather than investing in solving the myriads of problems bedeviling the state.” [myad]
Proprietor and founder of Charles Dale Memorial International School in Port Harcourt, Rivers State, Mrs. Victoria Diete-Spiff, has lamented that parents are now withdrawing their children from private schools because of the economic crisis in the country.
Diete-Spiff, who spoke after receiving Academic Icon Award from National Association of Oduduwa Students during the 10th anniversary of the institution, also urged government to give grants to private schools, said that parents are now taking their children to public schools.
The private school proprietor confessed that private schools are facing hard times, justifying such schools as the drivers of academic excellence in a nation and therefore need encouragement.
“Most schools proprietors are anticipating that the recession is going to be rough. Most parents, during this recession, are having financial problem. Most of them told us that if the economy becomes better they will return their children to school. They are retrieving their children.
“Private school is the bedrock of education in Nigeria and for somebody to withdraw his ward from private school, it means a lot.
“Government should improve the standard of education in Nigeria, at least by providing grants for private schools. In other countries, the government gives grants to private schools, but it is not done here.
“Government should do what needs to be done. Qualitative education is necessary because that is what the country needs for development.” [myad]
Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has been jolted by the entrance into Abuja of the dreaded crimes of kidnapping and unprovoked killings. The Minister today, Friday, held an emergency security meeting with various stakeholders in the territory, especially the ones from Kuje Area Council. The minister’s meeting with the stakeholders was sequel to attack by known assailant in the early hours of Sunday, November 13 at Darka Village in Kuje Area Council which left a 28-year old man, Zakariyya Nuhu dead, another person injured while six others were kidnapped. Another village, Huni-Gade was also attacked yesterday, Thursday, and four persons were also kidnapped. At the meeting, Muhammad Musa Bello called for calm over the attacks, assuring that the Security Agencies in the Territory are on top of the ugly situation. He said that his government is working with the security agencies to tackle the problem headlong, describing the killing and kidnapping of the innocent residents as purely criminal in and that the culprits would be treated as the criminals they are. The Minister gave assurance that all those involved would be arrested and be made to face the consequences of their criminal acts. The Minister then sympathized with the communities as well as the families of those affected in the unfortunate incidents. Muhammad Bello called on the residents of the Capital Territory to go about their normal businesses as the Security Agencies have been deployed to all parts of the Territory, especially the affected places to ensure the security of lives and property. He advised the residents to pass any useful information they have on the security situation to the relevant security agencies nearest to them as well as traditional and community leaders. [myad]
“Islam abhors and absolutely condemns terrorism and any terrorist activity. I have repeatedly declared that it is impossible for a true Muslim to be a terrorist, nor can a terrorist be regarded as a true Muslim. Terrorism is one of the cardinal sins that the `Qur’an threatens with…”
This is the strong view of Fethullah Gülen, an Islamic scholar, inspirational leader to millions of followers around the world and persona non grata to many in his native Turkey, where some consider him a threat to the country’s secular order. He spoke in an interview with FP about terrorism, political ambitions, and why his movement is so misunderstood.
The interview goes thus:
Fethullah Glen: I have never imagined being or wished to be chosen as something important in the world. I have always tried to be a humble servant of God and a humble member of humanity. The Koran says that humanity has been created to recognize and worship God and, as a dimension of this worship, to improve the world in strict avoidance of corruption and bloodshed. It requires treating all things and beings with deep compassion. This is my philosophy, which obliges me to remain aloof from all worldly titles and ranks. However, I am not indifferent to the appreciation of kind people. [The voters were] extremely kind in naming me the worlds top public intellectual, a title to which I can never see myself as entitled.
FP: Do you harbor any political ambitions?
FG: I have never had, nor will I ever have, any (political) ambitions. The only thing on which I have always set my heart is being able to gain Gods good pleasure and, therefore, trying to make him known correctly and loved by humanity.
FP: Where does Islam fit in a Muslims political life?
FG: Islam as a religion focuses primarily on the immutable aspects of life and existence, whereas a political system concerns only social aspects of our worldly life. Islams basic principles of belief, worship, morality, and behavior are not affected by changing times. Islam does not propose a certain unchangeable form of government or attempt to shape it. Islam has never offered nor established a theocracy in its name. Instead, Islam establishes fundamental principles that orient a government’s general character. So, politics can be a factor neither in shaping Islam nor directing Muslims acts and attitudes in Islam’s name.
FP: Why do you believe your movement is suspected by so many Turks?
FG: I do not believe so many Turks suspect my activities. The idea that this movement of volunteers is suspected by many Turks arises in the same way and for the same reasons that the world hears more about those Muslims whom the media call radicals. Since those who give this impression are extremely loud, some observers can be deceived.
FP: Hundreds of schools have been opened around the world based on a model you pioneered, blending science and religion. How centrally controlled are the schools run by the Glenist movement?
FG: My only role in the opening of the schools has been to suggest and encourage opening them. But it is impossible for there to be a [central authority] controlling the schools. They are in more than 100 countries, and there must be many different companies that have opened and run them. Some of them may have closer relations or interactions. Some may be sharing their experiences with others.
FP: What is the most misunderstood thing about the Glenist movement?
FG: I cannot accept concepts such as Glenism or Glenist. I was only a writer and an official preacher among people. I can have no direct influence on any person or activity. It is inconceivable that I can exert pressure on anybody.
But some people may regard my views well and show respect to me, and I hope they have not deceived themselves in doing so. Some people think that I am a leader of a movement. Some think that there is a central organization responsible for all the institutions they wrongly think affiliated with me. They ignore the zeal of many to serve humanity and to gain Gods good pleasure in doing so. They ignore peoples generosity. Such misunderstandings may lead others to have suspicions about the financial resources of the schools. A small minority in Turkey even accuses me of having political ambitions, when in fact I ha various illnesses for many years.
FP: You preach a moderate, tolerant Islam. What do you think causes terrorism?.
FG: Islam abhors and absolutely condemns terrorism and any terrorist activity. I have repeatedly declared that it is impossible for a true Muslim to be a terrorist, nor can a terrorist be regarded as a true Muslim. Terrorism is one of the cardinal sins that the Koran threatens with hellfire.
It is a fact that Muslims have lagged behind in science and technology for the last few centuries. The Muslim world suffers from internal divisions, antidemocratic practices, and the violation of fundamental human rights and freedoms. But Muslims have never been and never can be so base as to expect any solutions to their problems through terror.
(Terrorism) is formed of certain fundamental problems, (including) ignorance, poverty, and fear of others. Some people take advantage of the young and foolish. They are manipulated, abused, and even drugged to such an extent that they can be used as murderers on the pretext of some crazy ideals or goals.
To defeat terrorism, we must acknowledge that we are all human beings. It is not our choice to belong to a particular race or family. We should be freed from fear of the other and enjoy diversity within democracy. I believe that dialogue and education are the most effective means to surpass our differences.
FP: Would you like to return to Turkey someday?
FG: I certainly long for my country and my friends there. However, I have submitted myself to my fate and am willingly resigned to however it judges.
Fethullah Gulen, an Islamic scholar now living in the United States, was voted the worlds top public intellectual in the 2008 Foreign Policy/Prospect poll. [myad]
Experts and economic stakeholders who spoke in Lagos at theWorld Stage Economic Summit 2016 have reached a consensus that the rising rate of unemployment in Nigeria is as a result of anti-job creation policies of the government. Speaking at the Summit, with theme: “Addressing Unemployment Crisis in Nigeria,” the experts challenged the government to carry out a major review of its economic policies to solve problems instead of creating more confusion. Nigeria with a population of over 182 million, is battling with 49.5 per cent youth unemployment rate as at second quarter 2016. Dr. Femi Saibu of the Department of Economics, University of Lagos, Akoka, who presented a lead paper at the summit drew attention to the government policy on the ICT revolutions, saying that it is employment destructive and service oriented and not production/manufacturing sectors oriented. On government direct employment policy, he said that it only created temporary jobs not employment at a greater cost while the series of youth entrepreneurship scheme across the country including ‘You Win’ always ended up in creating social media entrepreneur with no employment multiplier. Hee said that the Small and Medium Enterprises Credit Guarantee Scheme had failed to achieve its objective as the funds were difficult to access even as it was politicized. “People see it as their share of the national cake and generate little employment.” At the summit, organised by World Stage Limited, with support from the Central Bank of Nigeria, Shell Nigeria, United Bank for Africa, Bank of Industry and Zenith Bank, the scholar said that what Nigeria needed are large scale industrial set up that can mop up thousand of unemployed youths. He said that the country needed the establishment of businesses with value chains in productive sectors with greater employment multiplier and government spending in key sectors to provide basic infrastructures that can reduce cost of business. Other economic stakeholders who spoke at the summit, chaired by Mr Soji Adeleye, MD/CEO, Alfe City Institution include, Mr. Mordecai Ladan, Director, Department of Petroleum Resources, Mrs. Omolara Aromolaran, MD/CEO, Crown Natures Nigeria Plc , Dr. Gloria Elemo, Director General/CEO, Federal Institute of Industrial Research (FIIRO), Mrs. Efua Edeh Executive Director, Junior Achievement Nigeria, BarristerSundayOduntan, Executive Director, Research & Advocacy, Association of Nigerian Electricity Distributors, among others.[myad]
“As far as politics is concerned I don’t have any enemy; I could have an opponent. Enmity is too strong a word to use in a relationship that is purely political.” Former Nigerian Vice President, Atiku Abubakar made this position known in an interview with Zero Tolerance, the in-house magazine of the Economic and Financial Crimes Commission(EFCC). He said that he has no problem with his former boss, President Olusegun Obasanjo, saying that he still respects Obasanjo, irrespective of disagreements they had in office. “I still thank God and him for nominating me as his Vice President which gave me the opportunity to experience governance at the highest level. “We had political disagreement quite rightly so. I never shied away from political disagreement; we quarrelled and where we couldn’t make up, it became public knowledge. “But still, I respect him as my former boss. The fact that we disagreed politically is no reason why we should be at loggerheads all our lifetime,” Atiku said that he has not visited the United States since 2007 on personal grounds, saying that the fact that he has not been travelling to the US had nothing to do with either alleged laundering of $40million or the $100,000 bribe allegation over which a Congressman, William Jefferson, was convicted. He said that the $40 million was his legitimate cash which he transferred to the United States even as he said since his wife, Jennifer, was no longer living in the US, he had no reason to go there. Reacting to a 2010 United States Senate report which accused him of laundering over $40million in suspicious funds into the U.S. between 2000 and 2008 with his wife, Jennifer, Atiku said: “It(the $40m) was an allegation which wasn’t proved. It was my legitimate money which I transferred to the U.S.; there was nothing about it. “More so, I was not indicted in that report. They only said suspicious funds but I proved before the Senate committee that they were not suspect.” On the alleged $100,000 bribe in which he was implicated with Jefferson, he denied any relationship with the jailed ex-lawmaker. The encounter is as follows: Question: Your friend, the Louisiana Congressman William Jefferson…? Answer: He was not my friend. Question: He was said to be close to you? Answer: Never! He was not close to me. Question: Okay, what was the relationship between you and William Jefferson? Answer: There was no relationship whatsoever. Question: Then tell us why he was linked to you? Answer: “The man wrote a letter to my office on a communications project, and for God’s sake, I was not the minister of Communications; so I endorsed the letter to the minister of Communication to address as his purview. After that, I travelled to the United States and he came to see me to bring the same copy of the letter. I told him, ‘well, I got a copy of this letter and have forwarded it to the ministry of Communication to get in touch with you’, and he left. That was all we discussed. Apparently, I didn’t know he had duped a lady and collected “marked money” from her in my name; unknown to him the FBI was on his trail. But, of course, there was no way he could give me money because, what was $100,000 to me? Eventually, my wife’s residence was searched and nothing was found there, but when his residence was searched, of course the money was found there; and he was convicted. I was not even called as a witness. Atiku said that he has not been under any travel restriction to the U.S. He said: “There is no travel restriction on me to the United States. After leaving office, I’ve been to the U.S. several times to visit my family, which has eventually relocated. Asked of the last time he visited the U.S., and why he doesn’t go, he simply replied: “The reason why I always visited the U.S. was because of my wife. She is no more in the U.S. So, I don’t have compelling reason to visit the U.S. now.” Atiku dismissed the insinuations that he is corrupt. He said: “Well, if Atiku Abubakar was corrupt, he would have been found guilty of corruption by all the panels and probes and cases that were brought before the courts. “I remember the only corruption indictment against me was a white paper which was cooked up by our own administration overnight, including the very EFCC that I helped found, and other cabinet ministers, which I challenged in court. “The court rightly dismissed all those indictment as being mere political; and till today nobody has ever indicted me of corruption.” On the insinuation that Obasanjo knelt down for him in 2003, Atiku said: “it is not true that he knelt for me. Of course, he came to my house and I refused to see him. He started it. How can you go and declare your candidacy and refuse to declare that you will run with your running mate? “So I had to fight back to remain on the ticket. Eventually he declared that he was running with me and then came to my house and we made up.” On whether he suggested the “Mandela option”, to succeed Obasanjo, the ex-Vice President said there was nothing like that. “Absolutely not true. Rather, he accused one of my aides of promoting the ‘Mandela option.’ On whether or not it was morally appropriate of him to have established a university as a vice president, Atiku said: “You need to have studied the structure of the university. “More than 20 years ago, I started with a nursery school, then a primary school before I established the university. The whole institution is a trust and non-profit foundation. “Till date, I still don’t make any profit, and I have continued to subsidise the education being offered in that place. It is a complete educational community from kindergarten to the university based on the American system in one place which doesn’t belong to me or the family.”[myad]
President Muhammadu Buhari has confessed that the anti-corruption war is tough and gruelling as corruption is fighting back vigorously, but that the battle would be won. The President who met with American Secretary of State, John Kerry on the margins of conference on climate change, COP22, in Marrakech, Morocco, President Buhari said that corrupt people had accumulated a formidable arsenal of illicit wealth, which they have been deploying against his government on diverse fronts. “But it is a war we are determined to win, and which we will win,” President Buhari said. “People of goodwill are behind us, countries like America and many others are with us, and we will surely win.” The President briefed Kerry on the war against insurgency in the North-east of Nigeria and efforts being made to tackle humanitarian problems caused by the insurgency, saying that a presidential committee had been launched “under Gen T.Y Danjuma, a man of high integrity.” On the unrest in the Niger Delta area resulting in the sabotage of critical oil and power installations, President Buhari said that the engagement process is proceeding apace, and that it is difficult bringing the main protagonists of the insurgency under one umbrella. The President said that Nigeria is happy with American support on different fronts, assuring that the economic challenges facing the country are being “frontally tackled, and we will overcome them soon.” Secretary Kerry expressed delight at the many successes of the Buhari administration, pledging continued U.S support in the bid to overcome security, humanitarian, political, and economic challenges. As the Barrack Obama administration exits next January, Kerry said that he would love to continue engaging with Nigeria, even in a private capacity. He described President Buhari as a strong international partner in the battle against violent extremism.[myad]
Ekiti State Governor, Ayodele Fayose went into the streets of Ado Ekiti today, Thursday, distributing cake, cash and bottles of coca cola to passers-by as he celebrates his 56th birthday. Market women and passers-by lined up on the streets to receive their portions of the cake, bottle of coca cola and what was described as ‘little cash.’ Speaking in one of the joints, governor Fayose said that it is only right for him to give back to the same people who voted him into office.
He said: “It is a show of love to my people; we can’t sit in the government house and enjoy the comfort of the office without remembering them. I got a lot of gifts on my birthday, cakes, yam tubers, cows, rice and so on, how many can I eat? How many clothes can I wear at a time? “It is just normal, just good for me to go back to the street and give it back to the people that put me in the government house. This is my style, this is me naturally, just that this time around it is more elaborate moving from one junction to the other to ensure about 500 persons per junction get something small on my birthday. “The more people you can touch, the better for your life today and tomorrow. These are the set of people that will never walk into the government house asking for contracts, asking for help; they will not even be allowed to get in unless the governor leaves the comfort of his office to come and meet with them wherever they are and that is exactly what I am doing. “These are the people that employed us into the office, they should not be abandoned for one minute, we must stay with them continuously at every opportunity.” [myad]
At its meeting presided over by the Vice President, Prof. Yemi Osinbajo, SAN,
The National Economic Council (NEC), today,Thursday, embraced a new funding regime for the oil and gas industry, as it cancelled the cash call regime which has dragged the industry in about a decade.
This is one of the highlights of today’s meeting of NEC, which was presided over by Vice President Yemi Osinbajo at the Aso Presidential Vialla, Abuja. It is the constitutional body set up to advice the president on the economic affairs of the federation. It comprises of the governors of the 36 states of the federation and the Central Bank governor.
The alternative funding stream has been approved earlier this week at the Federal Executive Council meetingon Wednesdayand then presented today to NEC, as the body mandated to come up with “measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”
ENERGIZING THE MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) SECTOR AS MAJOR ECONOMIC GROWTH DRIVE
Council received a presentation from the Ministry of Industry, Trade and Investment and relevant agencies on Energizing the MSMEs sector as a major Economic Growth Drive.
The Ministry informed the Council that the total estimated number of MSMEs is 37,067,416 MSMEs in Nigeria, and their contributions to employment is 84.02%, 48.47% to GDP, and 7.27% to export.
Of the total number, micro enterprises account for the majority, (99.8%) of the MSMEs in Nigeria, with 36,994,578 enterprises, 68,168 small enterprises, and 4,670 medium enterprises.
According to the presentation, Lagos State has the highest number of Micro Enterprises – (3,224,324); followed by Oyo and Kano States (1,864,054 and 1,794,358 respectively, while Nasarawa State has the least (226).
PRESENTATION BY THE CBN GOVERNOR ON FINANCING OPPORTUNITIES CRITICAL FOR MSMES DEVELOPMENT
Following up on the presentation, the Governor of CBN made a related presentation to the Council on financing opportunities critical for MSMEs development.
The Governor reported that the reason for the CBN’s involvement in MSMEs is to increase lending, provide access to affordable credit facility, and diversify the country’s economic base, create jobs and improve microeconomic stability.
Other reasons include to boost the capacity of MSMEs, conserving foreign exchange reserve, encourage export and the expansion of agriculture, manufacturing and to service other sub-sectors.
He stated that the CBN has a fund for such purposes in excess of N200B meant to provide affordable loans to MSMEs, adding that for instance in about three states the Bank has helped 120, 290 small holder farmers under the Anchor Borrowers Programme launched by President Muhammadu Buhari, creating more than 500,000 jobs.
MEMORANDUM ON THE ADOPTION OF SUSTAINABLE OPTION FOR FUNDING JOINT VENTURE CASH CALLS BY THE HONOURABLE MINISTER OF STATE, PETROLEUM RESOURCES
Minister of State for Petroleum Resources, Dr. Ibe Kachikwu stated that the current upstream Joint Venture arrangement in the Nigeria’s oil and gas industry is unincorporated Joint Venture (UJV) meaning that NNPC and the International Oil Companies (IOCs) partner in each Joint Venture as unique and separate legal entities.
The Minister also noted that while the NNPC pays the entire Oil and Gas revenues realised from the JV operations into the Federation account, the production costs are appropriated, calendarized and paid monthly as Cash Calls to the JV operations from the NNPC and IOCs.
According to the Minister, January – November 2016 underfunding of the NNPC Cash Calls is estimated at US$2.3 billion. This is in addition to the inherited arrears estimated at USD$6.8 billion for year ending 2015.
However he disclosed that through negotiations the $6.8B past due Cash Calls burden on the Federation has now been reduced to $5.1B, which would be paid based on an improved oil production output.
Under the new funding stream, the JVs would become incorporated and source for their own financing, freeing-up the FG from the budgetary obligations of coming up with the cash calls already put at $2.3B so far this year alone.
Under the alternative funding regime, the technical cost of oil production in the country would also come down from about $27 per barrel to $18.
The new arrangement, he assured would drive up investment in the oil and gas sector while also boosting production output and revenue significantly.
For instance net payment from oil production to the Federation account is expected to peak under the new arrangement to about $18B by year 2020 while raising output to 3million barrels per day.
REPORT ON THE EXCESS CRUDE PROCEEDS PRESENTED BY THE HONOURABLE MINISTER OF FINANCE
The Honourable Minister of Finance, Mrs. Kemi Adeosun reported to Council that as at November 2016, the balance of Excess Crude Proceeds stands at $2, 455,790,144- i.e. about $2.4B
UPDATE ON BUDGET SUPPORT LOAN FACILITY
A sum of N1.1 billion was disbursed in the month of October to 35 States and a total of N6.3 billion has now been disbursed to each of the 35 States.
LONG TERM FINANCIAL ABUSES BY SOME REVENUE GENERATING AGENCIES
Arising from previous Council deliberations on the matter, the Vice President informed that the Federal Government is paying diligent attention to the issue of abuses and excesses of certain Revenue Generating Agencies, RGA.
He then asked the Finance Minister to further brief the Council. The Minister detailed to Council certain activities of some Revenue Generating Agencies (RGAs) that amounted to financial abuses of the revenue they generate, meant to have been remitted to the Federation Account, but diverted through several undue and illegal means and ploys.
This include paying salaries above specifications of the Revenue Mobilization Allocation and Fiscal Commission, RMAFC, converting official cars to personal ownership under 48 hours of purchase, inappropriate and arbitrary monetization of medical allowances, undue and excessive overseas travels, lavish training allowances and conference spendings, excessive and personal loan approvals, including unapproved mortgages among others.
The Ministry of Finance and RMFAC are working together to rein in these abuses as this revenue agencies raise as much as 1.5 trillion Naira yearly, and spend almost 90% of it on recurrent expenditure in clear violation of due process and the constitution.
The Minister added that this financial abuses have been going on for a decade, whereby the agencies hide revenues that ought to go into the Federation Account. But assured Council that such activities will now be exposed and terminated as directed by the President.
ECOLOGICAL FUND
Governors brought up the alleged N2 billion said to have been paid to some States by the last Administration under unclear circumstances and criteria. There were complaints that state governments did not have equal access to the Fund amid allegations of political preferences.
Vice President Osinbajo assured the Council that the matter would be properly investigated, broadly reviewed, and forthright counsel would be made to the President regarding the matter.[myad]
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The United States of America Department of State, has called on the Nigerian government to protect and defend the rights of members of the Islamic Movement in Nigeria (IMN), popularly known as Shiite.
President Muhammadu Buhari has confessed that the anti-corruption war is tough and gruelling as corruption is fighting back vigorously, but that the battle would be won.
At its meeting presided over by the Vice President, Prof. Yemi Osinbajo, SAN,