Home Blog Page 587

We’ll Soon Sack 152 Top Management Staff To Cut Wage Cost, SEC Boss Hints

The Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda has given a hint that the Commission will soon retire 152 top management staff as a way of reducing wage cost.

This was coming on the heels of the Senate open anger over the Commission’s spending of a total sum of N8 billion to service its staff out of the N9 billion it generates every year.

Appearing before  the Senator Ibikunle Amosun-led  Committee on Capital Market to defend the budget  performance of the agency in 2021 and projections for 2022, Lamido Yuguda said: “In giving room for more financial inflow, we are planning to retire about 152 top management staff with fat salaries in paving way for recruitment of fresh workers with attendant less financial burdensome on the commission.

“There are measures at reducing expenditure and also measures at increasing revenue of the commission.”

During the meeting, the Senate sharply disagreed with SEC over spending of revenues made by the Commission largely on salaries and emoluments of staff.

The Chairman of the Committee, Senator Ibikunle Amosun who lampooned the Commission following the  expenses made  from its generated revenues, said: “your emolument was almost N6 billion out of the N9 billion and other expenses, so clearly you are spending almost all of the revenue that comes to you on staff emolument and other related things. “You should give us the number of staff that you have in the commission such that we need to look at what is happening. If you generate about  N9 billion and almost N8 billion is purely for servicing the staff. You are having a huge deficit of almost N4 billion. When you continuously make this deficit, year in year out, then something is wrong.”

Earlier while  the Senate, through its Committee on Capital Market felt it was wrong for SEC to have expended close to 90% of revenues made in the 2021 fiscal year on staff salaries and emoluments, SEC denied being frivolous on spending of revenues made.

Yuguda in his presentation said: ”a total of N11.5 billion was projected as revenue for  2021 out of which N2.689 billion was realised as at June with the hope of making more before the year runs out. Total recurrent expenditure for 2021 was budgeted at N13.53 billion but the actual expenditure was N4.063 by the end of June. Our budgeted deficit was N5.173 billion but the actual deficit as at end of September was N2.834 due to funding of it from our reserve . Though revenue performance is still weak but series of innovations like newly introduced charges for secondary Investors , will boost it up from 2022 fiscal year and beyond

Federal, State, Local Governments Share Over N671 Billion For October

Zainab Ahmed
Federal, State and Local Governments, including the Federal Capital Territory (FCT) of Nigeria, have shared a total sum of N671.910 billion as federation allocation for the month of October, 2021.
The sharing was done today, November 17, at the meeting of the
 Federation Accounts Allocation Committee (FAAC) held in Lagos.
This amount is inclusive of Value Added Tax (VAT), Augmentations, Exchange Gain and Non-Oil Mineral Revenue.
The Federal Government received N284.292 billion, the States received N209.838 billion, the Local Government Councils got N156.282 billion while the oil producing states received N21.498 billion as derivation (13% of Mineral Revenue).
A communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting, indicated that the Gross Revenue available from the Value Added Tax (VAT) for October, 2021 was N166.284 billion as against N170.850 billion distributed in the preceding month of September, 2021, resulting in a decrease of N4.566 billion.
According to a statement by the Acting Director of Information, Oshundun Olajide, the distribution is as follows:
Federal Government got N23.227 billion, the States received N77.422 billion, Local Government Councils got N54.195 billion, Transfers and Refunds received N4.789 and Cost of Collection got N6.651 billion.
The distributed Statutory Revenue of N407.864 billion received for the month was lower than the N692.283 billion received for the previous month by N284.419 billion, from which the Federal government received N180.551 billion, States got N91.578 billion, LGCs got N70.603 billion, Derivation (13% Mineral Revenue) got N21.118 billion, Cost of Collection received N17.940 billion and Transfers and Refunds got N26.075 billion.
The Communiqué also disclosed the Augmentations of N100 billion as the Federal Government received N52.680 billion, State Governments got N26.720 billion, LGCs received N20.600 billion, derivation (13% of Mineral Revenue) got N0.000, Costs of Collection, Transfers and Refunds got N0.000 accordingly. Also the N50 billion from Non-Oil Revenue was shared as follows: Federal Government received N26.340 billion, State Governments got N13.360 billion, LGCs got N10.300 billion, Derivation (13 % of Mineral Revenue) received N0.000 billion, while Costs of Collection, Transfers and Refunds got N0.000 accordingly.
The communique also revealed that Companies Income Tax (CIT), Petroleum Profit Tax (PPT), and Oil and Gas Royalties decreased considerably. There was a slight decline in Value Added Tax (VAT), while Import and Excise Duty, increased marginally.
The communique however disclosed that total revenue distributable for the current month inclusive of Gross Statutory Revenue of N363.849 billion, Value Added Tax (VAT) of N154.849 billion, and Exchange Gain of N3.217 billion, Augmentations of N100 billion and N50 billion from Non-Oil Mineral Revenue bringing the total distributable revenue to N671.910 billion.
The balance of Excess Crude Account (ECA) as at today stands at $60.860 million.

Plateau Potato Value-Chain Hosts Expo On Modern Farming Nov. 18

The Coordinator of Plateau Potato Value-Chain, Thomas Muopshin, has said that no fewer than 1,500 farmers in potatoes and other root crops will be on Plateau for exposition on modern farming to be held on November 18.
Muopshin said this in an interview in Jos today, November 16, said that the conference would bring international  investors into the state.
Muopshin said that the one- day exposition would bring huge benefits for the state and the farmers.
“This conference would create more jobs and increase the state Internally Generated Revenue.”
He said that the exposition would help to establish a potato centre of excellence in the state to stimulate exportation of potatoes from Plateau.
He said that the conference would enlighten the farmers on required standard for exportation and the need for them to key-in.
“There are required technology involved in exportation so that the crops can be accepted by international bodies.”
He said that the conference would also help to expose farmers to windows that are not visible to them and enable them to take advantage of various opportunities.
Source: NAN.

Goodluck Jonathan Is A Model In Good Leadership, Buhari Affirms

President Muhammadu Buhari has affirmed that former President, Dr. Goodluck Ebele Jonathan, is a model in good leadership from who many should learn.
“The former President’s profile should remind those in position and all aspiring leaders that serving the country and humanity requires sacrifice, and ultimately placing the interest of others above personal gains.”
President Buhari, in a statement today, November 16 by his spokesman, Femi Adesina, to congratulate Jonathan on his 64th birthday anniversary, November 17, 2021, acknowledged that the former President served the country and worked “for the peace and advancement of democracy on the African continent.
“Dr. Jonathan continues to expand the boundaries of leadership, teaching many in the country the power of focus, consistency and diligence, having served as Deputy Governor, Governor, Vice President, President, African Union Envoy and now, Chairman of the International Summit Council for Peace Africa (ISCP-Africa).
“ISCP-Africa is an association of incumbent and former heads of state and their deputies, established in 2019 by the Universal Peace Federation, an organization in general consultative status with the United Nations (UN).”
President Buhari said that as Dr. Jonathan turns 64, he prays that Almighty God will continue to sustain him and his family in good health and all round well being.

2021 Harvest Season: Farmers In Northwest Sing Different Songs

Farmers in Northwest states of Nigeria are already singing different songs as 2021 harvest season begins, with some of them recording bumper harvest, while others are counting losses.
A survey conducted by the News Agency of Nigeria (NAN), covering Kaduna, Kano, Zamfara, Sokoto, Kebbi and Katsina states, showed that rainfall was stable in some areas, and in other areas, it had either ceased earlier than expected or resulted in flooding.
Chairman of All Farmers Association of Nigeria (AFAN) in Kaduna state, Malam Salisu Muhammad, said that most farmers in the state are hopeful of recording good harvest this year.
Muhammad said that crops that promise to yield bumper results are maize, sorghum and beans, whereas rice yield is negatively affected by inadequate rainfall.
Another farmer in Kaduna, Balarabe Aliyu, said that irregular rainfall experienced during the year negatively affected crops.
“Apart from delayed commencement, the rain was irregular, as such the anticipated yield was not realised.”
The Country’s Representative of Feminine Early Warning Systems Network, Isah Mainu said that low rainfall had generally affected yield in some parts of Nigeria during the 2021 wet season.
Mainu said that during a virtual symposium to commemorate the 2021 World Food Day, crops affected are rice, maize, beans, sorghum and cowpea.
He listed some of the states affected to include Katsina, Zamfara, Sokoto, Kano and Jigawa.
Mainu said that conflicts between farmers and herdsmen, as well as the activities of bandits, affected production of crops, and triggered hike in prices of foodstuffs.
Chief Executive Officer of Silvex International, an agribusiness firm in Kano, Alhaji Abubakar Usman-Adam advised farmers to engage in dry season farming, with a view to bridging the food deficit created by low rainfall during the season.
Usman-Adam said that on their part, the company had initiated “Climate-Smart Farm Estates” to bridge the gap in production.
According to him, the estates will be established in collaboration with Jigawa and Nasarawa state governments.
Usman-Adam said thatbfor the project, they intend to engage people from host communities with a view to reducing unemployment.
“They will be trained on the skills, given stipends and at the end of the day, share certain profit with them.
“We want to create a new generation of farmers, because, many believe that farming is not a business venture.
Usman-Adam said that after the training, beneficiaries would go back to their communities and practise what they learnt.
Meanwhile, some farmers interviewed in Kano State said that low level of rainfall affected production of crops.
One of the farmers, Malam Yahuza Alhaji said that most of their crops dried up for lack of enough rainfall, adding that the rain came late, was not regular and did not last long.
A female farmer in Kano, Mrs. Uwani Abdu said that grains that needed much water suffered most, while crops that did not require much water, did fairly well in their area.
“Grains like rice, millet, sorghum and wheat have not actually done well, but maize and groundnut have done well in our farms.
“The main fear is that many farmers have sold their crops to dealers long before harvest, in anticipation of bumper harvest.”
She expressed fear that many farmers might encounter scarcity of food since they had sold out their grains.
Professor Murtala Badamasi of the Centre for Dryland Agriculture, Bayero Univeristy, Kano, expressed the need for farmers to commence irrigation farming to mitigate the effect of the anticipated poor harvest.
Hussaini Abba, a grain seller in Kano, said that a 100 kilogramme bag of local rice is now sold for N39,000, as against its old price of N42,000.
Abba said the same bag for maize costs N19,000, as against previous price of N25,000, while that of millet is sold for N21,000, as against N25,000.
‎He said that a bag of beans now costs N47,000, as against N48,000 few months ago, while that of sorghum, one of the crops affected by low rainfall, maintains its price of N25,000.
An integrated farmer in Katsina State, Alhaji Abba Muhammad, said that inadequate rainfall recorded this year in the state, had dashed the hope of farmers for a bumper harvest.
Muhammad said that the rainfall did not last long, pointing out that the situation had affected production.
“Here in Katsina, the rain ceased three months ago, and for sure, crops were affected; farmers in Katsina will hardly record bumper harvest this year.”
Also, Chairman of AFAN in Ingawa Local Government Area of the state, Malam Ibrahim Suleiman, said that the rainfall pattern had devastating effects on crops.
“Most of the crops this year did not give us good yield as a result of the inadequate rainfall.”
Alhaji Sahabi Augie, Chairman, Rice Farmers Association of Nigeria (RIFAN) Kebbi State chapter, said that rice farmers in the state recorded good harvest in 2021.
“Many of our famers now smile to different banks, either to lodge or withdraw money, following this year’s bumper harvest.
“We had also experienced some challenges and difficulties at the beginning of the season due to flooding, but we later bounced back.”
A middleman in Birnin Kebbi Central Market, Alhaji Abubakar Sadeek, said prices of food items had gone down in the state due to good harvest in some parts of the country.
Also, in Sokoto State, farmers interviewed said they had recorded good harvests due to stable rainfall.
They said that the abundance of food crops had led to stability in prices, explaining that further price crash is being anticipated as harvesting progres

Nurses, Midwives Ask For Extension Of Retiring Age To 65, Review Of Hazard Allowance

The National Association of Nigeria Nurses and Midwives (NANNM) has asked the federal government to extend the retirement age of its members from 60 to 65 years.
The Association also asked for the review of the hazard allowance to members, in addition to providing them adequate security cover in the course of carrying out their duties.
The National President of NANNM, Michael Nnachi, in a speech at the Association’s 35th Annual Scientific Conference held in Calabar today, November 26, also demanded a review of professional allowance, shift duty, call duty, teaching and speciality allowances for members.

“We also call on the Federal Government to adjust the Consolidated Health Salary Structure and extend the retirement age from 60-65 years and 70 years for health consultants.”

Nnachi was represented at the event by the 2nd Vice President of NANNM, Mrs. Blessing Isreal.
This was even as the National Chairman of the association, Wale Olatunde, called for the security of lives and property of nurses and midwives in the country.
Olatunde expressed concern that nurses in the country had suddenly become targets of attacks, mostly on their way to work and sometimes at their duty posts, especially by kidnappers.
According to him, considering the challenging environment in which nurses discharge their duties, there is need to protect them against all forms of security threats.
“As a professional health body, we call on government at all levels and security agencies to provide adequate security for nurses against violent attacks.
“With the level of insecurity in the country, most of our members have been kidnapped and made to face different forms of torture.
“At the peak of the COVID-19 pandemic, nurses were at the fore front of rendering healthcare to the patients.
“We lost some nurses in the process to the pandemic, while others recovered and went back to duty,” Olatunde said.
The Chairperson of Nurses in the University of Calabar Teaching Hospital, Mrs Eno Bassey-Okon
said that the conference would look at pertinent issues affecting the sector and healthcare delivery in Nigeria.
The Chairperson of the occasion and Wife of the Speaker of Cross River House of Assembly, Mrs Imaobong Eteng-Williams, said that nurses and midwives play strategic role in healthcare delivery, especially for pregnant women.
“Nurses and midwives are invaluable asset to any health institution in the country.
“In spite of the challenging times and circumstances, nurses have always given out their best in healthcare delivery.” 
Source: NAN.

University Of Ilorin Expels Student Who Beats Female Lecturer

The University of Ilorin (UNILORIN) has expelled a final-year student Salaudeen Aanuoluwa of the department of microbiology, who allegedly beat a female lecturer of the same department.
Salaudeen was said to have physically attacked the lecturer, Rahmat Zakariyau last week Thursday after he unsuccessfully tried to get her to grant him a waiver for missing the mandatory student industrial work experience scheme (SIWES) course.
The institution’s spokesman, Kunle Akogun, in a statement said that Salaudeen was expelled after a meeting of the student disciplinary committee where he was arraigned on Monday.
He said the expelled student “has 48 days to appeal against the verdict to the Vice-Chancellor in case he feels dissatisfied with the decision.”
Text of the letter written to Salaudeen by the university registrar read thus: “You will recall that you appeared before the Student Disciplinary Committee (SDC) to defend yourself in respect of an allegation of misconduct levelled against you.
“After due consideration of all evidence before it, the Committee was convinced beyond any reasonable doubt that the allegation of misconduct has been established against you. It has accordingly recommended to the Vice-Chancellor, who in exercise of the power conferred on him, has directed that you Salaudeen, Waliu Aanuoluwa be expelled from the University.
“Accordingly, you are hereby expelled from the University with immediate effect.
“You are required to submit forthwith, all University property in your custody including your Student Identity Card to the Dean of Student Affairs or his representative and keep off the campus.
“In case you are dissatisfied with this decision, you are free to appeal to the University Council through the Dean, Faculty of Life Sciences to the Vice-Chancellor within forty-eight (48) days of the date of this letter.”
Salaudeen had told University Campus Journalist, an on-campus journal, that he missed the SIWES course because he was locked up for two months after being arrested in Lagos on the allegation that he was a thief.

Group Of Iranian, Specialised In Hacking Telecoms, Internet, Foreign Ministry Are Here, NCC Alerts

An Iranian hacking group known as Lyceum has been reported by the Nigerian Communication Commission (NCC).
The hacking group also known as Hexane, Siamesekitten, or Spirlin, according to a statement today, November 15 by NCC’s spokesman, Dr. Ikechukwu Adinde, has been reported to be targeting telecoms, Internet Service Providers (ISPs) and Ministries of Foreign Affairs (MFA) in Africa with upgraded malware in a recent politically motivated attacks oriented in cyberespionage.
Adinde said that information about this cyber attack is contained in the latest advisory issued by the Nigerian Computer Emergency Response Team (ngCERT), adding that the ngCERT rated the probability and damage level of the new malware as high.
According to the advisory, the hacking group is known to be focused on infiltrating the networks of telecoms companies and ISPs. He said that between July and October, 2021, Lyceum was implicated in attacks against ISPs and telecoms organisations in Israel, Morocco, Tunisia, and Saudi Arabia.
“The advanced persistent threat (APT) group has been linked to campaigns that hit Middle Eastern oil and gas companies in the past. Now, the group appears to have expanded its focus to the technology sector. In addition, the APT is responsible for a campaign against an unnamed African government’s Ministry of Foreign Affairs.
“By the attackers’ mode of operation, Lyceum’s initial onslaught vectors include credential stuffing and brute-force attacks. So, once a victim’s system is compromised, the attackers conduct surveillance on specific targets. In that mode, Lyceum will attempt to deploy two different kinds of malware: Shark and Milan (known together as James).
“Both malware are backdoors. Shark, a 32-bit executable written in C# and .NET, generates a configuration file for domain name system (DNS) tunneling or Hypertext Transfer Protocol (HTTP) C2 communications; whereas Milan – a 32-bit Remote Access Trojan (RAT) retrieves data.
“Both are able to communicate with the group’s command-and-control (C2) servers. The APT maintains a C2 server network that connects to the group’s backdoors, consisting of over 20 domains, including six that were previously not associated with the threat actors.”
According to reports, individual accounts at companies of interest are usually targeted, and then once these accounts are breached, they are used as a springboard to launch spear-phishing attacks against high-profile executives in an organization.
The report suggests that not only do these attackers seek out data on subscribers and connected third-party companies, but once compromised, threat actors or their sponsors can also use these industries to surveil individuals of interest.
Adinde said that to guard against this kind of threats, the NCC wishes to re-echo ngCERT reports that multiple layers of security in addition to constant network monitoring is required by telecom companies and ISPs alike to stave off potential attacks.
“Specifically, telecom consumers and the general public are advised to:
1. Ensure the consistent use of firewalls (software, hardware and cloud firewalls).
2. Enable a Web Application Firewall to help detect and prevent attacks coming from web applications by inspecting HTTP traffic.
3. Install Up-to-date antivirus programmes to help detect and prevent a wide range of malware, trojans, and viruses, which APT hackers will use to exploit your system.
4. Implement the use of Intrusion Prevention Systems that monitors your network.
5. Create a secure sandboxing environment that allows you to open and run untrusted programs or codes without risking harm to your operating system.
6. Ensure the use of virtual private network (VPN) to prevent an easy opportunity for APT hackers to gain initial access to your company’s network.
7. Enable spam and malware protection for your email applications, and educate your employees on how to identify potentially malicious emails.
“For further technical assistance, contact ngCERT on incident@cert.gov.ng.
“The NCC, as the operator of the telecom sector’s cyber threat response centre (CSIRT), hereby reiterates its commitment active surveillance and monitoring of cyber activities in the sector and will always keep stakeholders in Nigeria’s telecommunications sector updated on potential threats within the cyber space. This is to ensure that the networks that deliver essential services are safe and that   telecom consumers are protected from being victims of cyber attacks.

Head Of Service Angry With 426 Federal Servants That Were Transfered But Refused To Go

Head of Civil Service of the Federation, Dr. Folasade Yemi-Esan is not happy with 426 federal civil servants who were transfered in September this year to various departments of the government but have since refused to report at such departments till date.
Dr. Folasade, in a memo, threatened to sack such recalcitrant civil servants or force them into early retirement if by November 17, they do not retract their rejection of official postings.
In the circular -HCSF/CMO/ EM/ AOD/001/S.2/103, through the Permanent Secretary of the Career Management Office, Marcus Ogunbiyi and addressed to all permanent secretaries and directors, the Head of Service requested that the list of the affected workers should be submitted to her.
In the circular, she gave all officers who have not reported up to Wednesday, to do so and present their documents in their posted MDAs.
She warned that failure to comply amounted to a violation of extant rules which shall be dealt with in accordance with the provisions of PSR 030301(b).
The provisions of PSR 030301(b) consider a refusal to proceed on transfer or to accept posting as misconduct which is inimical to the image of the service and which can be investigated and if proved can also lead to termination and retirement.
Part of the memo reads: “Recall that the office of the head of the civil service of the Federation, via the circular no, HCSF/CMO/EM/AOD/001/S.2/103, dated September, 29, 2021, redeployed pool officers from GL 05 to 09 to various MDAs.
“Returns on the level of compliance indicated that a substantial number of the officers has not reported in their respective new posts. Available statistics indicate that the majority of such officers may be working from home in compliance with the earlier circular on the preventive measures against COVID-19.
“Notwithstanding, such officers are expected to document in their new MDAs while they continue working at home or as may be directed by their permanent secretaries.
“Accordingly, all officers in this category or any others who have not reported are given up to Wednesday, 17th November, 2021 to report and document in their MDAs. Failure to do so is tantamount to violation of extant rules which shall be dealt with in accordance with the provisions of PSR 030301(b).”
Dr. Yemi-Esan had on September 21, redeployed the workers to the new MDAs via a circular issued on her behalf by the Director, Employee Mobility of the Office of the Head of Service, O.T. Olusola-Dada.
Source: THISDAY.

Revenue Commission To Soon Come Out With New Sharing Formula Of Federation Account

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), has given an assurance that a new and acceptable revenue sharing formula of the Federation Account will soon be out.
The Commission’s Chairman, Chief Elias Mbam, in an interview with the News Agency of Nigeria  (NAN) in Abuja today, November 14, against the background of the engagements the commission had with various stakeholders across the country.
He commended Nigerians for their effective participation during the Commission’s Zonal Public Hearing for a new revenue sharing formula.
Chief Mbam emphasised the determination of RMAFC to come out with credible, acceptable and fair new revenue sharing formula for the country.
He said that the Commission would synthesise and analyse the various presentations from stakeholders’ across the six geo-political zones and the Federal Capital Territory. Mbam, especially, commended the 36 state governors for mobilising the people to massively and effectively participate in this all important national issue.
Mbam recalled that when President Muhammadu Buhari inaugurated the board of RMAFC on June 27, 2020, he charged the members to be fair and just to all tiers of government in the review of the current revenue allocation formula.
The  consensus of the states and the Federal Government at the various zonal public hearing had resulted in the reversal of the current sharing formula.
The existing formular gives 52.68 per cent to the Federal Government, the states 26.72 per cent, the local governments, 20.60 per cent, with 13 per cent derivation revenue going to the oil-producing states. Stakeholders agreed on a new formula. There was, however, no consensus on what the new sharing formula should be, a decision to be taken by RMAFC, which has the constitutional right to do so.
The Federal Government had, through Secretary to the Government of the Federation, Boss Mustapha, proposed an increase in revenue allocation to local governments from 20.60 per cent to 23.73 per cent.
He said that it was also being proposed that allocation to the Federal Government be reviewed downward from 52.68 per cent to 50.65 per cent, states from 26. 72 per cent to 25.62 per cent, with allocation for derivation remaining at 13 per cent.
“Development needs to start getting to the local governments for the nation to get fully developed,” he said. Mustapha had said also that the issue of revenue allocation should be handled constructively, especially in the face of dwindling revenue and the need for states to increase their internally-generated revenue (IGR).
“It is an important fact that this review should culminate in improved national development,” the SGF said, adding that the process would culminate in the enactment of an appropriate Act by the National Assembly.
On its part, Lagos State Government at the South-West Zonal Stakeholders meeting proposed: Federal Government: 34 per cent, states  42 per cent, local government councils, 23 per cent and Lagos State (Special Status, 1 per cent). Mbam at the various zonal public hearings reiterated that the revenue allocation review was not intended to change the fiscal arrangement of the country.
“Whether we are devolving power or going into a complete system of federalism or we are restructuring is not the concern of this review. “The review of the mobilisation and revenue allocation is a product of law and an Act provided by the 1999 Constitution as amended.”
The RMAFC boss explained that the height of responsibility of any of the three tiers of government would determine what it would get.
He said: “If the Federal Government is confirmed to have a high responsibility, it will get an equivalent of that responsibility as allocation. If it is the local government that has more responsibility, it will be done the same way. Our position is that the more responsibility of a tier, the more money it gets.’’
Advertisement ADVERTORIAL
WP2Social Auto Publish Powered By : XYZScripts.com