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Reps Accuse FG of Spending N4.7trn Without Approval

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Aminu-Tambuwal, speaker, House of Representatives
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House of Representatives Committee on Public Accounts, at the weekend, accused the Federal Government of spending about N4.7 trillion from 2004 to 2012 from the Service-wide vote without the approval of the National Assembly, as stipulated in section 80 of the 1999 Constitution as amended.

Adeola Solomon Olamilekan,  chairman of the Committee, who stated this while briefing, also accused the government of former President Olusegun Obasanjo of expending N250 million to feed former president of Liberia, Charles Taylor and his family, who were on an asylum in the country between 2005 and 2006.

Olamilekan, while speaking on the alleged abuse of the Service-wide Vote, maintain that, “most of the expenditures to which the Service-wide Vote releases were deployed were  routine in nature and did not qualify for emergency funding.”

According to him: “For instance, between 2004 and 2012, a total sum of  N1, 284,853,731.20 was spent on publicity and publication of various government programmes; between 2004 and 2005, the sum of N250 million was spent on the upkeep of the former Liberian president, Charles Taylor; another sum of N14,006,494.847.57 was also released from the Service-wide Vote for the payment of judgment debts against the Federal Government.

“The Office of the Accountant-General of the Federation, Budget Office and the Ministry of Finance released to their various offices, a total sum of N2, 267,002,101 to a few auditors are audit fees and in 2011 alone, the Office of the Accountant-General of the Federation paid out the sum of N809,358,504 as audit fees to some external auditors carrying out audit of the Federal Government financial activities instead of the Office of the Auditor-General for the Federation”.

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Speaking further, he maintained that, “the expenditure of N162 million from the 2011 Service-wide Vote releases tagged: “Closing Accounts” was incurred jointly by the Office of the Accountant-General and the Budget Office of the Federation,” adding, “an expenditure of N1,059,177,589.31 ($6,619,859.93 at the rate of $1=N160) in 2010 and 2011, was said to payment of outstanding tax on Nigeria House in New York.”

He added that: “Successive governments have, from 2004 to 2012, spent a whopping and mind-boggling sum of N4.17 trillion, as against N1.8 trillion naira approved by the National Assembly as Service-wide Vote component of the budgets of those years, translating to N2.27 trillion extra budgetary spending or 220% above the Service-wide Vote as approved in the budget for the period.” Such extra-budgetary expenditures constitute a breach of Section 81 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and an illegality.”

He stressed that, “the Service-wide Vote had become an alternative budget which government prefers to patronise than the annual budget, leading to poor implementation of the annual budget as approved by the National Assembly.”

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Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

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Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.

According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.

Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.

He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.

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“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.

He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.

The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.

In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.

He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.

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NAICOM Issues New Licences to 43 Recapitalized Insurers

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The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.

According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.

Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.

He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.

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The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.

He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.

According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.

Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.

The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.

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Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

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Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.

Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.

Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.

The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.

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Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.

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