The Tertiary Education Trust Fund (TETFund) secretary, Sonny Echono has faced a panel set up by the House of Representatives over N2.3 trillion mismanagement. TETFund on it own side has also said the Federal Government (FG) is owing it the sum of N323 billion. Echono disclosed this at an investigative hearing on the missing N2.3 trillion in the Fund organised by an ad hoc committee of the House of Representatives. The House of reps recently set up the committee to investigate the alleged abuse of the such amount generated from the Tertiary Education Tax by the Fund from 2011 to 2023.…
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The new Executive Secretary/Chief Executive Officer, CEO, of the Nigerian Investment Promotion Commission, NIPC, Aisha Rimi on Monday, October 16, assumed office in Abuja. Rimi has pledged to advance Nigeria’s economy through strategic investment promotion. It will be recalled that on Friday, October 13, President Bola Tinubu approved the appointment of a new lineup of leadership for 12 agencies and parastatals under the Federal Ministry of Industry, Trade and Investment. According to a statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the move is in line with President Tinubu’s resolve to base Nigeria’s economic…
The Federal Executive Council, FEC, has approved a 30-day implementation plan for the Memorandum of Understanding, MoU, between the Federal Government and organized labour. This was made known through the Minister of Labour and Employment, Simon Lalong, on Monday, October 16, in Abuja. It will be recalled that on September 26, 2023, the Nigeria Labour Congress, NLC and Trade Union Congress, TUC, directed their members and affiliate bodies to embark on a mass action on October 3 as a protest against the petrol subsidy removal and economic hardship in the country. However, on October 1, the Federal Government summoned an emergency meeting to engage…
The National Bureau of Statistics, NBS, has said Nigeria witnessed a decline in total capital importation as it dropped to $1.03 billion from $1.5 billion in the second quarter of 2023, marking a 32.90 percent decrease. In its report, NBS also revealed a 9.04 percent decrease from the $1.13 billion recorded in the first quarter of the year under review. Capital importation means all the money or investment from foreign countries into Nigeria’s economy. It involves the inflow of funds for investment, trade, or business expansion. Investment, according to NBS, ranked top accounting for 81.28 percent ($837.34 million) of total…
The Senator representing Kwara south, Lola Ashiru has replaced David Umahi as deputy leader of the Senate. Umahi had represented Ebonyi south, holding the position for three months prior his appointment by President Bola Tinubu as Minister of works. Also, Ashiru before the new role was the deputy chief whip. He won the Kwara South senatorial seat on February 23, 2019, with 89,704 votes, defeating incumbent Adebayo Rafiu Ibrahim of the Peoples Democratic Party, PDP, who polled 45,175. After his inauguration into the 9th Senate on June 11, 2019, he was appointed the Vice Chairman Senate Committee on Housing and Vice Chairman…
The Organized Labour has issued a two-week deadline to governors to commence negotiations on the N35,000 wage award for workers in their states. This is in line with the terms of the Memorandum of Understanding, MoU, signed by the Federal Government, the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, on Tuesday, October 17. The ultimatum was handed down by the state chapters of the NLC and TUC on the same Tuesday, as they said they had written to the governors to fast-track the necessary protocols and implement the award meant to assuage the subsidy removal pains. They…
The House of Representatives Committee on Public Account is set to probe the alleged mismanagement of COVID-19 intervention funds. It gave the indication following a motion moved by Nyampa Zakari, a member from Adamawa State representing the Peoples Democratic Party, PDP, during plenary on Tuesday, October 17. According to Zakari, some ministries and organizations misused the COVID-19 intervention funds. The lawmaker alleged that more than N183.9 billion was earmarked by the Federal Government in the budget for intervention in addition to the donations made by some international donors. “The disruption of economic activity made it necessary to implement several programmes, laws,…
President Bola Tinubu has approved the appointment of Musa Adamu Aliyu as the new Chairman and Chief Executive Officer, CEO, of for the Independent Corrupt Practices and Other Related Offences, ICPC. Aliyu’s appointment will now have to await Senate’s confirmation as the President also approved a new management team for the commission. The appointment, disclosed in a statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, on Tuesday, October 17, reads; “In exercise of powers conferred on the President as established in Section 3(6) of the Corrupt Practices and Other Related Offences Act, 2000, and…
The Jigawa State chapter of the All Progressives Congress, APC, has suspended the party’s chairman in the Roni Local Government Area of the State, Saleh Idris. Idris was suspended over allegations of raping and impregnating his 14-year-old housemaid. The decision to suspend the LGA boss was contained in a statement signed by the state chairman of the party, Aminu Sani Gumel. A Chief Magistrate’s Court in Dutse, the state capital, had remanded Idris over the allegation. He was arrested by the Nigerian Security and Civil Defence Corps, NSCDC, on October 4, 2023, following a complaint by the victim’s brother. Adamu…
The new chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has said that the fight against corruption should begin from the National Assembly. Olukoyede disclosed this during his screening at the Senate on Wednesday, October 18, as he was screened and confirmed after his nomination by President Bola Tinubu. He told the lawmakers to ensure that the fight against corruption begins in the National Assembly. The EFCC boss declared that he was ready to work no matter whose ox was gored. “Let the fight against corruption begin from this hallowed chamber. “If you are fighting corruption, you…