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 Religion / Re: Reply Kukah With Facts, Not Attacks - Joseph Hayab, CAN Boss Tells FG by Collymond: 2:41pm On Jan 03, 2021 |
DamnnNiggarr: But kukah didnot present Any FACTS too.... Or Where Is kukah FACTS  |
| Politics / Re: Bishop Hassan Kuka; A Board Member Atiku Private University by Collymond: 5:52pm On Dec 27, 2020 |
HedwigesMaduro: Are you now Saying the bandits issue in The North started with Buhari Govt ? |
| Politics / Re: Bishop Hassan Kuka; A Board Member Atiku Private University by Collymond: 3:43pm On Dec 27, 2020 |
| Politics / Re: Exposed: See The Dss Operative Who Tried To Kill Sowore In The Court Room by Collymond: 6:45pm On Dec 08, 2019 |
[quote author=Adonko post=84741977]I like this ....uncover all[/quote You Guys are pure Liers ..... There Is no DSS Person in that picture ok... Stop this Sillly lies. 2 Likes 1 Share |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 7:00pm On May 18, 2018 |
adegeye38: There is a pending bill in the house push by the executive for the creation of special courts for corruption related cases since 2yrs , the house will not deliberate on that bill because for them such bill is not necessary as it will definately affect them.... |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 4:18pm On May 18, 2018 |
Gaddafithe2nd: My brother , we are just too lucky ..... This BUHARI Administration really saved us from a very big doom. With this kind of our Population of over 200Million People with a very low human capacity.It would have been a messy situation and the Hunger would have been a mess. There is no politics here, it is just the simple truth and facts. 1 Like |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 3:33pm On May 18, 2018 |
PrecisionFx: BUHARI really saved Nigerian ship from a total sinking...... AS at 2015 , The Nigerian Ship was already destined and heading to the HARD ROCK for Destruction But Buhai Administration saved us from that terrible destruction and that is a very clear facts and we need thank him. *** Go and read about the Economic crisis in VENEZUELA , GREECE and even the Developed SPAIN DID-NOT find it easy during there Economic crisis .... Also, go and read about the GHOST TOWN OF MICHIGAN in AMERICA. For real, BUHARI ADMINISTRATION saved us from a really messy and terrible situation during our crisis. The last Administration and the PDP would have not survive the 2015 Economic crisis with an OIL Price Falling down to btw 28 - 30Dollars .... "NO WAY " We are Just lucky ..... Pure and simple that PDP lost that 2014 Election..... If NOT , NIGERIA would have been in a very messy and big "Poo" by now. Continue to argue , as i cannot help u.. 1 Like |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 3:30pm On May 18, 2018 |
[quote author=PrecisionFx post=67667505] Pls list the facts of buharis 4 year regime. [/qu BUHARI really saved Nigerian ship from a total sinking...... AS at 2015 , The Nigerian Ship was already destined and heading to the HARD ROCK for Destruction But Buhai Administration saved us from that terrible destruction and that is a very clear facts and we need thank him. *** Go and read about the Economic crisis in VENEZUELA , GREECE and even the Developed SPAIN DID-NOT find it easy during there Economic crisis .... Also, go and read about the GHOST TOWN OF MICHIGAN in AMERICA. For real, BUHARI ADMINISTRATION saved us from a really messy and terrible situation during our crisis. The last Administration and the PDP would have not survive the 2015 Economic crisis with an OIL Price Falling down to btw 28 - 30Dollars .... "NO WAY " We are Just lucky ..... Pure and simple that PDP lost that 2014 Election..... If NOT , NIGERIA would have been in a very messy and big "Poo" by now. Continue to argue , as i cannot help u.. 2 Likes |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 2:12pm On May 18, 2018 |
PrecisionFx: Always running away from the truth and facts ...... 2 Likes |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 1:00pm On May 18, 2018 |
jrusky: And you want the Government to fix your problems with what ?4 Likes |
| Politics / Re: Senate Paid Abiola Aiyegbayo, Saraki’s Aide’s Wife N150,000/month - Sahara Rep. by Collymond: 12:43pm On May 18, 2018 |
mumureloaded: ***** PLS THIS STORY IS MORE IMPORTANT TO US AND A MUST READ **** **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. |
| Politics / Re: Man Wears IGP's Transmission T-shirt (Photo) by Collymond: 12:40pm On May 18, 2018 |
Mcalakowe: ***** PLS THIS STORY IS MORE IMPORTANT TO US AND A MUST READ **** **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. |
| Politics / Re: Man Wears IGP's Transmission T-shirt (Photo) by Collymond: 12:40pm On May 18, 2018 |
creamyescortsng: ***** PLS THIS STORY IS MORE IMPORTANT TO US AND A MUST READ **** **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. |
| Politics / Re: Man Wears IGP's Transmission T-shirt (Photo) by Collymond: 12:38pm On May 18, 2018 |
Lloydfather: ***** PLS THIS STORY IS MORE IMPORTANT TO US AND A MUST READ **** **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 12:34pm On May 18, 2018 |
dignity33: PLS ALWAYS TRY TO REPORT THE TRUE STORY ........ **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. 1 Like |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 12:33pm On May 18, 2018 |
GSA01: PLS ALWAYS TRY TO REPORT THE TRUE STORY ........ **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. |
| Politics / Re: NNPC, NPA, FIRS, others failed to remit N526bn, $21bn Between 2010 And 2015 –NEC by Collymond: 12:30pm On May 18, 2018 |
GSA01: PLS ALWAYS TRY TO REPORT THE TRUE STORY ........ **** Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.***** NNPC, NPA, FIRS, others failed to remit N526bn, $21bn –NEC [ audit firm, KPMG ] Olalekan Adetayo, Abuja Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed. The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money. Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday. The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members. Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC. The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission. Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others. Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement. He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action. The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account. “NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid. “Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action. “Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.” The governor said it was resolved that the audit period be extended to June 2017. “One of the resolutions of NEC is to extend the audit to June 2017. So the audit will continue for the remaining agencies. “It is NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report. It is a voluminous report; there are a lot of items that are there. “The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into the details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by the office of the Attorney General of the Federation.” Zamfara State Governor, Abdulaziz Yari, said the issue of whether states should henceforth determine how much is paid as fuel subsidy and not NNPC came up at the meeting. He, however, said a final decision on the matter would be taken at the next meeting. He said, “We are doing the nitty-gritty with the NNPC in terms of remittances. Don’t forget that the reason we got it right in 2016 on the NNPC side was that the oil prices were too low. It was easy for everyone to get fuel into the country and then make their profit. “So, when the price started jacking up, then marketers started adjusting back because they needed to have a template of cost recovery and how they are going to make up the difference from the pump price to the landing cost of what they are importing. “Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors, so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways. “For instance, if you say we paid N800bn subsidy, you will ask who are we paying the subsidy to? And if you look at the infrastructure development and capital programme of the Federal Government, it is about N1.1trn, almost 70 per cent of what you are spending on developing the economy. “If there is no infrastructure development, then you cannot talk about the development of the economy. N800bn is a huge amount that we must look at it, who is benefiting from it. “So, we are coming up with a strategy; we are going to meet in the months of May and June. By next meeting, we will definitely come up with a position of the government at both the level of volume of what is being brought into the country and what the state and federal governments collaborate to check.” Adeosun reported to the council that the balance in the Excess Crude Account as of May 14, 2018, stood at $1, 830, 682, 945.30. She also reported to Council that the current balance in the Stabilisation Account as of the same day stood at N15, 725,456,963.83. She put the balance in the Natural Resources Development Fund at N116, 104,644,763.39. The Minister of Budget and National Planning, Udo Udoma, gave an update to council on the just-concluded Economic Recovery Growth Plan Focus Labs. Udoma told members that the Labs identified 164 projects spread across the six geopolitical zones of the country. He said the outcome indicated that over 500,000 jobs were likely to be created by 2020 and that more labs would be conducted in due course for other sectors. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. 1 Like |
| Politics / Re: Man Wears IGP's Transmission T-shirt (Photo) by Collymond: 3:15am On May 18, 2018 |
firo08: So in your mind the IG Video is real , that shit is total FAKE...... The IG is a Graduate and also a LAWYER . |
| Politics / Re: Reno Omokri Reacts To IGP Ibrahim Idris' Speech Blunder With (See Tweets) by Collymond: 11:48am On May 17, 2018 |
ZarahBuhari: Evil people spreading FAKE story just because of Politics..... Meet Ibrahim Idris, The Inspector-General of Police |[Read His Profile] President Muhammadu Buhari approved the appointment of Assistant Inspector-General of Police, Ibrahim Kpotun Idris, as the Acting Inspector-General of Police The Acting Inspector-General, who hails from Kutigi, Lavun in Niger State, was born on 15th of January 1959, and was enlisted into the Nigerian Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelors degree in Agriculture. He also holds a degree in Law from the University of Maiduguri. AIG Idris has served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander, and Commandant. He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in charge of Police Mobile Force at the Force Headquarters. He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service. AIG Idris, who was in charge of Operations at the Force Headquarters before his appointment as the Acting Inspector-General of Police, will act in that capacity pending his confirmation. |
| Politics / Re: Reno Omokri Reacts To IGP Ibrahim Idris' Speech Blunder With (See Tweets) by Collymond: 11:45am On May 17, 2018 |
opeyemicollins: The man is better Qualified than RENO.... Meet Ibrahim Idris, The Inspector-General of Police |[Read His Profile] President Muhammadu Buhari approved the appointment of Assistant Inspector-General of Police, Ibrahim Kpotun Idris, as the Acting Inspector-General of Police The Acting Inspector-General, who hails from Kutigi, Lavun in Niger State, was born on 15th of January 1959, and was enlisted into the Nigerian Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelors degree in Agriculture. He also holds a degree in Law from the University of Maiduguri. AIG Idris has served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander, and Commandant. He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in charge of Police Mobile Force at the Force Headquarters. He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service. AIG Idris, who was in charge of Operations at the Force Headquarters before his appointment as the Acting Inspector-General of Police, will act in that capacity pending his confirmation. |
| Politics / Re: Reno Omokri Reacts To IGP Ibrahim Idris' Speech Blunder With (See Tweets) by Collymond: 11:43am On May 17, 2018 |
aluko360: Meet Ibrahim Idris, The Inspector-General of Police |[Read His Profile] President Muhammadu Buhari approved the appointment of Assistant Inspector-General of Police, Ibrahim Kpotun Idris, as the Acting Inspector-General of Police The Acting Inspector-General, who hails from Kutigi, Lavun in Niger State, was born on 15th of January 1959, and was enlisted into the Nigerian Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelors degree in Agriculture. He also holds a degree in Law from the University of Maiduguri. AIG Idris has served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander, and Commandant. He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in charge of Police Mobile Force at the Force Headquarters. He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service. AIG Idris, who was in charge of Operations at the Force Headquarters before his appointment as the Acting Inspector-General of Police, will act in that capacity pending his confirmation. |
| Politics / Re: Reno Omokri Reacts To IGP Ibrahim Idris' Speech Blunder With (See Tweets) by Collymond: 11:42am On May 17, 2018 |
alexpumpin: Meet Ibrahim Idris, The Inspector-General of Police |[Read His Profile] President Muhammadu Buhari approved the appointment of Assistant Inspector-General of Police, Ibrahim Kpotun Idris, as the Acting Inspector-General of Police The Acting Inspector-General, who hails from Kutigi, Lavun in Niger State, was born on 15th of January 1959, and was enlisted into the Nigerian Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelors degree in Agriculture. He also holds a degree in Law from the University of Maiduguri. AIG Idris has served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander, and Commandant. He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in charge of Police Mobile Force at the Force Headquarters. He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service. AIG Idris, who was in charge of Operations at the Force Headquarters before his appointment as the Acting Inspector-General of Police, will act in that capacity pending his confirmation. |
| Politics / Re: Police IG Idris Unable To Read His Speech In Kano (Embarrassing Video) by Collymond: 11:38am On May 17, 2018 |
kizaronto: Meet Ibrahim Idris, The New Inspector-General of Police |[Read His Profile] President Muhammadu Buhari approved the appointment of Assistant Inspector-General of Police, Ibrahim Kpotun Idris, as the Acting Inspector-General of Police The Acting Inspector-General, who hails from Kutigi, Lavun in Niger State, was born on 15th of January 1959, and was enlisted into the Nigerian Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelors degree in Agriculture. He also holds a degree in Law from the University of Maiduguri. AIG Idris has served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander, and Commandant. He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in charge of Police Mobile Force at the Force Headquarters. He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service. AIG Idris, who was in charge of Operations at the Force Headquarters before his appointment as the Acting Inspector-General of Police, will act in that capacity pending his confirmation. |
| Politics / Re: Police IG Idris Unable To Read His Speech In Kano (Embarrassing Video) by Collymond: 11:34am On May 17, 2018 |
Obainoneandonly: so you belief that video.... You can now see how far our Politicians can go just to destroy someone image. |
| Politics / Re: Police IG Idris Unable To Read His Speech In Kano (Embarrassing Video) by Collymond: 7:38am On May 17, 2018 |
Obainoneandonly: Meet Ibrahim Idris, The New Inspector-General of Police |[Read His Profile] President Muhammadu Buhari approved the appointment of Assistant Inspector-General of Police, Ibrahim Kpotun Idris, as the Acting Inspector-General of Police The Acting Inspector-General, who hails from Kutigi, Lavun in Niger State, was born on 15th of January 1959, and was enlisted into the Nigerian Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelors degree in Agriculture. He also holds a degree in Law from the University of Maiduguri. AIG Idris has served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander, and Commandant. He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in charge of Police Mobile Force at the Force Headquarters. He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service. AIG Idris, who was in charge of Operations at the Force Headquarters before his appointment as the Acting Inspector-General of Police, will act in that capacity pending his confirmation. |
| Politics / Re: US Confirms Nigeria's Payment For Fighter Jets; To Be Delivered In 2020 by Collymond: 3:54pm On Apr 30, 2018 |
SalamRushdie: Please take your time to read section 83 [1-2] of our constitution ..... This section of our constitution empowers the president to authorised such payment without the National Assembly Approval in an emergency situations. Go and carefully read about the exacutive Power of the Nigerian President.... Also, note that as a matter of facts, the payment was also approved by the National Executive Council, consisting of all the Governors of the 36 states.... |
| Politics / Re: US Confirms Nigeria's Payment For Fighter Jets; To Be Delivered In 2020 by Collymond: 3:37pm On Apr 30, 2018 |
SalamRushdie: There is nothing like impeachable offence here..... sections 83 (1-2) of the Nigerian constitution allows the president as executive head to make extra budgetary spending in an emergency where a matter or such is deemed by mr president to be of National Interest. it only makes it obligatory for mr president to communicate the National Assembly , requesting for a post-action approval. That is exactly what has happened in the circumstance.... |
| Properties / Re: Lagos State Government's Explanation Of Land Use Charge by Collymond: 2:39pm On Mar 09, 2018 |
Crystasluvee: |
| Properties / Re: Land Use Charge In Lagos State. What It Is And What Its Not Part 1 (march 2018) by Collymond: 2:05pm On Mar 04, 2018 |
Paying the land use charge is really not the Issue, the high amount to be paid is complete madness on the part of the Government ..... This government must be ready to lock up people houses oooooo. Idiot people . 1 Like |
| Politics / Re: Junaid Mohammed: Buhari Couldn't Read Two Pages Of A Book In A Year by Collymond: 9:23am On Feb 20, 2018 |
Buhari is really working ooooooo Nigeria external reserves to hit 54 months high of $45bn Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/ NIGERIA’s external reserves will rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week. The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday. According to the Ministry of Finance, the $2.5 billion Eurobond, which attracted buying interest of $11.5 billion, comprises a $1.25 billion 12-year series and a $1.25 billion 20-year series. The 12-year series comes with interest at a rate of 7.143 percent, while the 20-year series will bear interest at a rate of 7.696 percent, and, in each case, will be repayable with a bullet repayment of the principal on maturity. The offering is expected to close on or about February 23, 2018, subject to the satisfaction of various customary closing conditions. Eurobonds Though the purpose of the Eurobond issuance is to refinance domestic debts, proceeds of the bond will, among other things, accelerate accretion to the nation’s external reserves. Commenting on how the Eurobond issuance will impact the domestic economy, analysts at Lagos based investment firm, Afrinvest Plc, said: “The proceeds from the Eurobond issuance would be used to refinance relatively expensive short term domestic borrowings as the FGN plans to achieve an optimal mix of domestic and foreign debt and reduce overall debt servicing cost. The impact of the debt refinancing, coupled with declining inflation rate and stability in foreign exchange rate, is anticipated to continue to anchor yield expectation lower in the near term and reduce crowding out of private sector borrowers.” External reserves accretion Financial Vanguard analysis reveals that the external reserves have grown by $3.5 billion or 8.9 percent since the beginning of the year. According to the CBN, the external reserves which opened the year at $39.3 billion had risen to $42.8 billion last week. The sharp increase in reserves is driven by rising crude oil price, which touched $71 per barrel last month before retreating to $62 per barrel last week, as well as upsurge in dollar inflows through the Investors and Exporters (I&E) window of the foreign exchange market. Financial Vanguard analysis showed that turnover (dollars traded) in the I&E window rose by 10 percent last week to $789.9 million from $716.57 million the previous week. Consequently dollar inflow since the beginning of the year through the I&E window rose to $8.37 billion, from $7.58 billion the previous week. Mixed naira performance However, in spite of the increased turnover, the naira depreciated marginally in the I&E window last week. According to data from the Financial Market Dealers Quote, the indicative exchange rate for the window rose by 9 kobo to N360.36 per dollar last week from N360.27 the previous week. But the naira remained stable at N363 per dollar in the parallel market during the week. The CBN on its part sustained its weekly intervention in the foreign exchange market by selling $210 million in the interbank market. According to Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, “The CBN offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million. Customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.” Statutory allocation funds to lower cost of funds Cost of funds is expected to further trend downwards in the interbank money market this week courtesy of inflow from statutory allocation to the three tiers of government which would be released this week by the Federal Accounts Allocation Committee (FAAC). The inflow, in addition to N56.3 billion inflow from maturing treasury bills (TBs) is expected to offset impact of outflow to be occasioned by N100 billion FGN Bond offer by Debt Management of Nigeria (DMO) this week; dollar auction by the CBN; and likely mop-up by CBN through secondary market (open market operations, OMO) TBs sale. Last week, cost of funds fell sharply by over 2,500 basis points (bpts) following upsurge in market liquidity to N371.5 billion on Friday from N46.4 billion the previous week. The upsurge in liquidity was buoyed by inflow of N266 billion from matured TBs, which offset the impact of outflow of N176 billion through primary market (new) TBs sold by the CBN during the week. Consequently, interest rate on Collateralised (Open Buy Back, OBB) lending dropped by 2,516 bpts to 18.17 percent last week from 43.33 percent the previous week. Similarly, interest rate on Overnight lending dropped by 2,600 bpts to 19.5 percent from 45.5 percent the previous week. Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/ |
| Business / Re: CBN Restricts Dividend Pay-out By Banks by Collymond: 9:22am On Feb 20, 2018 |
Buhari is really working oooooooooo Nigeria external reserves to hit 54 months high of $45bn Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/ NIGERIA’s external reserves will rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week. The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday. According to the Ministry of Finance, the $2.5 billion Eurobond, which attracted buying interest of $11.5 billion, comprises a $1.25 billion 12-year series and a $1.25 billion 20-year series. The 12-year series comes with interest at a rate of 7.143 percent, while the 20-year series will bear interest at a rate of 7.696 percent, and, in each case, will be repayable with a bullet repayment of the principal on maturity. The offering is expected to close on or about February 23, 2018, subject to the satisfaction of various customary closing conditions. Eurobonds Though the purpose of the Eurobond issuance is to refinance domestic debts, proceeds of the bond will, among other things, accelerate accretion to the nation’s external reserves. Commenting on how the Eurobond issuance will impact the domestic economy, analysts at Lagos based investment firm, Afrinvest Plc, said: “The proceeds from the Eurobond issuance would be used to refinance relatively expensive short term domestic borrowings as the FGN plans to achieve an optimal mix of domestic and foreign debt and reduce overall debt servicing cost. The impact of the debt refinancing, coupled with declining inflation rate and stability in foreign exchange rate, is anticipated to continue to anchor yield expectation lower in the near term and reduce crowding out of private sector borrowers.” External reserves accretion Financial Vanguard analysis reveals that the external reserves have grown by $3.5 billion or 8.9 percent since the beginning of the year. According to the CBN, the external reserves which opened the year at $39.3 billion had risen to $42.8 billion last week. The sharp increase in reserves is driven by rising crude oil price, which touched $71 per barrel last month before retreating to $62 per barrel last week, as well as upsurge in dollar inflows through the Investors and Exporters (I&E) window of the foreign exchange market. Financial Vanguard analysis showed that turnover (dollars traded) in the I&E window rose by 10 percent last week to $789.9 million from $716.57 million the previous week. Consequently dollar inflow since the beginning of the year through the I&E window rose to $8.37 billion, from $7.58 billion the previous week. Mixed naira performance However, in spite of the increased turnover, the naira depreciated marginally in the I&E window last week. According to data from the Financial Market Dealers Quote, the indicative exchange rate for the window rose by 9 kobo to N360.36 per dollar last week from N360.27 the previous week. But the naira remained stable at N363 per dollar in the parallel market during the week. The CBN on its part sustained its weekly intervention in the foreign exchange market by selling $210 million in the interbank market. According to Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, “The CBN offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million. Customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.” Statutory allocation funds to lower cost of funds Cost of funds is expected to further trend downwards in the interbank money market this week courtesy of inflow from statutory allocation to the three tiers of government which would be released this week by the Federal Accounts Allocation Committee (FAAC). The inflow, in addition to N56.3 billion inflow from maturing treasury bills (TBs) is expected to offset impact of outflow to be occasioned by N100 billion FGN Bond offer by Debt Management of Nigeria (DMO) this week; dollar auction by the CBN; and likely mop-up by CBN through secondary market (open market operations, OMO) TBs sale. Last week, cost of funds fell sharply by over 2,500 basis points (bpts) following upsurge in market liquidity to N371.5 billion on Friday from N46.4 billion the previous week. The upsurge in liquidity was buoyed by inflow of N266 billion from matured TBs, which offset the impact of outflow of N176 billion through primary market (new) TBs sold by the CBN during the week. Consequently, interest rate on Collateralised (Open Buy Back, OBB) lending dropped by 2,516 bpts to 18.17 percent last week from 43.33 percent the previous week. Similarly, interest rate on Overnight lending dropped by 2,600 bpts to 19.5 percent from 45.5 percent the previous week. Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/ |
| Politics / Nigeria External Reserves To Hit 54 Months High Of $45bn by Collymond: 2:17pm On Feb 19, 2018 |
Nigeria external reserves to hit 54 months high of $45bn Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/ NIGERIA’s external reserves will rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week. The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday. According to the Ministry of Finance, the $2.5 billion Eurobond, which attracted buying interest of $11.5 billion, comprises a $1.25 billion 12-year series and a $1.25 billion 20-year series. The 12-year series comes with interest at a rate of 7.143 percent, while the 20-year series will bear interest at a rate of 7.696 percent, and, in each case, will be repayable with a bullet repayment of the principal on maturity. The offering is expected to close on or about February 23, 2018, subject to the satisfaction of various customary closing conditions. Eurobonds Though the purpose of the Eurobond issuance is to refinance domestic debts, proceeds of the bond will, among other things, accelerate accretion to the nation’s external reserves. Commenting on how the Eurobond issuance will impact the domestic economy, analysts at Lagos based investment firm, Afrinvest Plc, said: “The proceeds from the Eurobond issuance would be used to refinance relatively expensive short term domestic borrowings as the FGN plans to achieve an optimal mix of domestic and foreign debt and reduce overall debt servicing cost. The impact of the debt refinancing, coupled with declining inflation rate and stability in foreign exchange rate, is anticipated to continue to anchor yield expectation lower in the near term and reduce crowding out of private sector borrowers.” External reserves accretion Financial Vanguard analysis reveals that the external reserves have grown by $3.5 billion or 8.9 percent since the beginning of the year. According to the CBN, the external reserves which opened the year at $39.3 billion had risen to $42.8 billion last week. The sharp increase in reserves is driven by rising crude oil price, which touched $71 per barrel last month before retreating to $62 per barrel last week, as well as upsurge in dollar inflows through the Investors and Exporters (I&E) window of the foreign exchange market. Financial Vanguard analysis showed that turnover (dollars traded) in the I&E window rose by 10 percent last week to $789.9 million from $716.57 million the previous week. Consequently dollar inflow since the beginning of the year through the I&E window rose to $8.37 billion, from $7.58 billion the previous week. Mixed naira performance However, in spite of the increased turnover, the naira depreciated marginally in the I&E window last week. According to data from the Financial Market Dealers Quote, the indicative exchange rate for the window rose by 9 kobo to N360.36 per dollar last week from N360.27 the previous week. But the naira remained stable at N363 per dollar in the parallel market during the week. The CBN on its part sustained its weekly intervention in the foreign exchange market by selling $210 million in the interbank market. According to Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, “The CBN offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million. Customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.” Statutory allocation funds to lower cost of funds Cost of funds is expected to further trend downwards in the interbank money market this week courtesy of inflow from statutory allocation to the three tiers of government which would be released this week by the Federal Accounts Allocation Committee (FAAC). The inflow, in addition to N56.3 billion inflow from maturing treasury bills (TBs) is expected to offset impact of outflow to be occasioned by N100 billion FGN Bond offer by Debt Management of Nigeria (DMO) this week; dollar auction by the CBN; and likely mop-up by CBN through secondary market (open market operations, OMO) TBs sale. Last week, cost of funds fell sharply by over 2,500 basis points (bpts) following upsurge in market liquidity to N371.5 billion on Friday from N46.4 billion the previous week. The upsurge in liquidity was buoyed by inflow of N266 billion from matured TBs, which offset the impact of outflow of N176 billion through primary market (new) TBs sold by the CBN during the week. Consequently, interest rate on Collateralised (Open Buy Back, OBB) lending dropped by 2,516 bpts to 18.17 percent last week from 43.33 percent the previous week. Similarly, interest rate on Overnight lending dropped by 2,600 bpts to 19.5 percent from 45.5 percent the previous week. Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/ |
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