September 2024 – Page 17

Post Date : September 18, 2024

DAILIES TOP STORIES: 20 govs borrow fresh N446bn as revenues tumble

Wednesday 18 September 2024 Three marketers to import 141m-litres petrol FG alerts 11 states as Cameroon plans Lagdo dam release Gov poll: 35,000 cops arrive Edo as joint forces begin patrol Nobody can set Bauchi on fire, Gov replies Wike FG, states, LGs shared N1.2tn in August – FAAC Abia warns against flouting school resumption date Oyo bans teachers’ meetings during school hours Senators, Reps donate N174m to Borno flood victims Africans don’t celebrate past leaders – Obasanjo APC urges caution as N’Assembly plans diaspora voting INEC Rejects Abure As Labour Party’s National Chairman Tinubu Did Not Ask CBN Gov Cardoso To Resign – Presidency Fubara Suspends Rivers LGA Caretaker Committee Chairman Tinubu Appoints Amachree As Director Of Energy Security Maulud Accident: Tinubu Orders FRSC On Improved Highway Monitoring Tinubu Mourns 40 Killed In Maulud Day Auto Crash Sokoto probes ‘diversion of N16.1bn’ under Tambuwal Police arrest ‘Boko Haram’s weapon instructor’, recover ammunition CBN: Nigeria’s external reserves at risk due to petrol subsidy removal NNPCL/Dangote: Fresh dispute emerges over supply volume How Abdulsalami almost denied Nigeria $280m telecom deal — Obasanjo Falana, parents lampoon federal, Lagos govts over school fees hike FG To Split Unity Colleges Into Basic, Secondary Schools 2.2 million registered voters collect PVCs in Edo —INEC PDP BoT, Wike meet behind closed doors Makinde flags off upgrade of Ibadan Airport today Visit a newspaper stand this morning, buy and read a copy for yourself…

Post Date : September 17, 2024

FG, States, LGs Share ₦1.2trn In August 2024

A total sum of ₦1.203 trillion June 2024 federation accounts revenue has been shared with the Federal Government, states, and local government councils in the country. The revenue was shared at the September 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. This was disclosed in a statement on Tuesday by Bawa Mokwa, the FAAC spokesperson for the Accountant General of the Federation. He explained that the ₦1.203 trillion total distributable revenue comprised distributable statutory revenue of ₦186.636 billion, distributable Value Added Tax (VAT) revenue of ₦533.895 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦15.017 billion, Exchange Difference revenue of ₦468.245 billion. Meanwhile, the balance in the Excess Crude Account (ECA) for last month was put at $473,754.57 See the full statement below: FG, STATES, LGCs SHARE N1.203 TRILLION AUGUST 2024 REVENUE A total sum of N 1.203 trillion August 2024 Federation Accounts Revenue has been shared to the Federal Government, States and Local Government Councils in the country. The revenue distribution was announced at the September 2024 meeting of the Federation Accounts Allocation Committee (FAAC), in Abuja. The N1.203 trillion total distributable revenue comprised distributable statutory revenue of N186.636 billion, distributable Value Added Tax (VAT) revenue of N533.895 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.017 billion and Exchange Difference revenue of N468.245 billion. A communiqué issued by the Federation Accounts Allocation Committee (FAAC) indicated that total revenue of N2.278 trillion was available in the month of August 2024. Total deduction for cost of collection was N81.975 billion while total transfers, interventions and refunds was N992.617 billion. According to the communiqué, gross statutory revenue of N1.221 trillion was received for the month of August 2024. This was lower than the sum of N1.387 trillion received in the month of July 2024 by N165.994 billion. Gross revenue of N573.341 billion was available from the Value Added Tax (VAT) in August 2024. This was lower than the N625.329 billion available in the month of July 2024 by N51.988 billion. The communiqué stated that from the N1.203 trillion total distributable revenue, the Federal Government received total sum of N374.925 billion and the State Governments received total sum of N422.861 billion. The Local Government Councils received total sum of N306.533 billion and a total sum of N99.474 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. On the N186.636 billion distributable statutory revenue, the communiqué stated that the Federal Government received N71.624 billion and the State Governments received N36.329 billion. The Local Government Councils received N28.008 billion and the sum of N50.675 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. From the N533.895 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N80.084 billion, the State Governments received N266.948 billion and the Local Government Councils received N186.863 billion A total sum of N2.252 billion was received by the Federal Government from the N15.017 billion Electronic Money Transfer Levy (EMTL). The State Governments received N7.509 billion and the Local Government Councils received N5.256 billion. From the N468.245 billion Exchange Difference revenue, the communiqué stated that the Federal Government received N220.964 billion and the State Governments received N112.076 billion. The Local Government Councils received N86.406 billion, while the sum of N48.799 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. In August 2024, Oil and Gas Royalty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), Import and Excise Duties, Electronic Money Transfer Levy (EMTL), CET Levies and Companies Income Tax (CIT) all recorded decreases. The balance in the ECA was $473,754.57 Bawa Mokwa Director (Press and Public Relations)

Post Date : September 17, 2024

FG Issues Flood Alert As Cameroon Releases Water From Lagdo Dam

The Federal Government on Tuesday alerted Nigerians to the release of water from the Lagdo Dam in Cameroon. In a statement, the Director General/Chief Executive Officer of the Nigeria Hydrological Services Agency, Umar Muhammed, said the dam’s regulated water releases will commence on September 17. According to the statement, the water discharge is anticipated to progressively escalate to 1000m³/s over the next seven days based on the inflow from the upstream Garoua River. “The Nigeria Hydrological Services Agency wishes to notify the general public that the authorities of the Lagdo Dam in Cameroon have communicated to the agency that they will initiate controlled water releases at a rate of 100m³/s (8,640,000m³/day) starting today, 17 September 2023,” the statement read. “The water discharge is anticipated to progressively escalate to 1000m³/s over the next seven days based on the inflow from the upstream Garoua River, which serves as the primary source into the reservoir and a significant tributary to the Benue River. “Nonetheless, the dam operators have indicated that the planned water discharges will be gradual to avoid surpassing the conveyance capacity of the Benue River system and triggering substantial flooding downstream in Nigeria. The overflow from the Lagdo Dam is projected to cease once there is a noticeable reduction in the flow into the Lagdo reservoir,” the statement read in part. The NIHSA boss, however, said there is no cause for alarm. “The agency unequivocally states that there is no need for alarm as major flooding downstream in Nigeria is not anticipated since the flow levels along the Benue River are still within cautionary limits. “Nevertheless, it is of utmost importance for all states bordering the Benue River system, namely: Adamawa, Taraba, Benue, Nasarawa, Kogi, Edo, Delta, Anambra, Bayelsa, Cross River, and Rivers, along with the government at all levels (Federal, State, and Local Government Areas) to heighten their vigilance and implement appropriate preparedness measures to mitigate potential flooding impacts that may arise due to an increase in flow levels of our major rivers during this period. “The agency will continue to diligently monitor the flow conditions of the transboundary Benue River and the national inland rivers, and consistently provide regular updates on water levels across major rivers to prevent further flood disasters,” he stated.

Post Date : September 17, 2024

Tinubu didn’t sack Cardoso – Presidential aide

Bayo Onanuga, the Special Adviser Information and Strategy to President Bola Tinubu, has refuted a report claiming that the president had directed the governor of the Central Bank of Nigeria, Olayemi Cardoso to resign. Onanuga, via his X handle, #aonanuga1956, tweeted on Tuesday evening, labelled the story, saying, “It’s all lies. President Tinubu has not asked Yemi Cardoso to resign.” A media report (not The PUNCH), in a story published Tuesday, September 17, 2024, titled, “President Tinubu orders CBN gov, Cardoso to resign over naira steep fall,” stated that Tinubu gave the order before leaving Nigeria for China, as he (Tinubu) rebuffed the “pleas and pressure from the acclaimed Yoruba Elders who had risen to Cardoso’s support to save his job.” A source who told the newspaper, said, “The president is worried about the exchange rate and angry that Cardoso in one year in office could not revive the Naira to between N700 and N900 before May 29th as he promised. The President waited for him to actualise the promise by May 29, June 29, and July 29 before he got tired of waiting in August when he invited him to submit his resignation.” It claimed that Tinubu replied, saying, “I told you to bring your resignation letter, you do not need to beg because you promised in January that you would revive the Naira before May 29th and I have been asking you if I should bring N700 or N900 for you to give me $1, but you can’t find it.” The value of the naira recorded its highest gain by 4.8 per cent against the United States dollar in nearly two months after the sale of the country’s debut domestic dollar bond, marking its biggest jump since July 22. The currency closed at N1,558 per dollar on Wednesday, its strongest level against the greenback since August 21, Bloomberg reports.

Post Date : September 17, 2024

Landlord Defiles Tenant’s Daughter

Operatives of the Ogun State Police Command have arrested a landlord, Bola Tobiloba, for allegedly defiling his tenant’s 14-year-old daughter in the Arinlese area of Abeokuta. The command’s spokesman, Omolola Odutola, on Tuesday, said the incident took place last Friday and was reported by the survivor’s father. Odutola said, “The survivor’s father reported the incident to the Adatan Police Division at 2:15pm on Friday, September 13, 2024. The landlord is accused of assaulting his 14-year-old daughter. “The girl suffered a tear in her private area, resulting in bleeding. When our officers arrived at the scene, they found blood on the floor, believed to be from the survivor. Blood was also found on the clothing she was wearing.” She further said that the survivor was taken to the hospital.

Post Date : September 17, 2024

FALSE! Bishop Kukah misleads public, says Tinubu didn’t sign 2023 peace accord

The Bishop of Sokoto Diocese, His Lordship Matthew Kukah, on Sunday, misled Nigerians that President Bola Tinubu didn’t sign the 2023 peace accord before the presidential election. Kukah, one of the conveners of the National Peace Committee headed by former Head of State General Abdulsalami Abubakar, made this known on Sunday in Benin City during the Edo Election Security Townhall. According to the clergyman, the committee can’t force any presidential candidate to sign the peace pact, which has become an electoral ritual in the last decade. He said, “The National Peace Committee, what we do is not in the Electoral Act, it’s not law; it’s moral. You can’t compel people to fall in love or love their neighbour Presidency Debunks Claim However on Tuesday, the Senior Special Assistant to President Bola Tinubu, Mr Bayo Onanuga said the claim by the clergyman is not correct. In a post on X, Mr Onanuga noted the first Accord, committing the candidates to a free and credible election in the country, was signed on September 29, 2022. Vice President Kashim Shettima represented Tinubu. While, the second agreement, signed on February 23, 2023, was for the candidates to accept the election outcome. Independent Verification FACTWATCH Independently verified if this claim by Bishop Kukah was correct, but we discovered that this claim is FALSE. When we typed this keyword, “OBI, TINUBU, KWANKWASO SIGN PEACE ACCORD“, into Google search, results showed that President Bola Tinubu was among the Presidential Hopefuls who signed thep peace accord on February 23, 2023. FACTWATCH also found news publications by credible news organizations in Nigeria that confirmed that the current Nigerian leader signed the peace accord in 2023. See news reports Here and Here.

Post Date : September 17, 2024

Fuel subsidy removal poses risk to external reserve growth – CBN

The Central Bank of Nigeria, CBN, has said that fuel subsidy removal, lower import bills, and increased external debt servicing obligations could pose downside risks for the growth of external reserves by 2024/2025. CBN disclosed this in its Monetary, Credit, Foreign Trade and Exchange Policy guidelines for fiscal years 2024/2025. However, the apex bank in its outlook projected a positive economic output growth in Nigeria by 2024/2025 based on continued policy support in the agriculture and oil sectors, reforms in the foreign exchange market, and the effective implementation of the Finance Act 2023 and the 2022-2025 Medium-Term National Development Plan (MTNDP). There’re still Nigerians with integrity — Femi, who returned N21m worth of crypto coins to owner0.00 / 0.00 CBN said, “The outlook for Nigeria’s external sector in 2024/2025 is optimistic, on the expectation of favorable terms of trade, occasioned by sustained rally in crude oil prices and an improvement in domestic crude oil production. “The positive outlook is supported by the sustenance of crude oil price, propelled by the decision to cutproduction, and gains from capital flows and remittances. “However, lower crude oil earnings, fuel subsidy removal, rising import bills, and increased external debt servicing obligations could pose downside risks for the accretion to external reserves. “In addition, the sustained monetary policy tightening by central banks across advanced economies increases the risk of capital outflow.” On Nigeria’s output growth, CBN said: “Nigeria’s output growth is expected to maintain a positive trajectory in 2024/2025.“The growth prospects are dependent on continued policy support in the agriculture and oil sectors, reforms in the foreign exchange market, and the effective implementation of the Finance Act 2023 and the 2022-2025 MTNDP. “The risk to the outlook is still tilted to the downside, characterized by significant headwinds such as rising energy prices emanating from lingering effects of the Russia-Ukraine war, and the persisting security and infrastructural challenges, which could undermine the growth outlook in the shortto medium term. “Domestic prices are expected to remain elevated through 2024/2025, on the back of spillovers from global supply constraints, and exchange rate pass-through. “More so, the persisting security and infrastructural challenges could exacerbate inflationary pressures. “The performance of the fiscal sector is expected to remain on a positive recovery trajectory in 2024/2025. “This outlook is contingent on the effective implementation of the Finance Act 2023 and restructuring of key revenue-generating MDAs to boost non-oil revenue. “However, low domestic crude oil production, growing public debt, lingering insecurity, global economic slowdown, and the Russia-Ukraine war, could pose significant downside risks to fiscal operations in the short-to-medium-term. “The financial sector is expected to remain resilient in 2024/2025. The outlook mirrors the efforts of the CBN in continuously monitoring emerging vulnerabilities and risks in the system, including periodic stress tests, examination exercises, and the provision of risk mitigants.”

Post Date : September 17, 2024

Fubara suspends Rivers LGA caretaker committee chairman with immediate effect

The Rivers state governor, Siminialayi Fubara, has suspended the local government committee chairman of the Akuku-Toru local government area, Otonye Briggs. Fubara in a statement signed on Tuesday, September 17, by his chief press secretary, Nelson Chukwudi, said Briggs had been suspended with immediate effect. The governor directed Bitebobo Nelson Amieye, to immediately take over as the caretaker committee chairman of the council. Fubara ordered Briggs to hand over all council property in his possession to the new chairman.

Post Date : September 17, 2024

BREAKING: NAFDAC bursts FAKE cosmetics factory in Lagos

The National Agency for Food and Administration Control (NAFDAC) has shut down an illegal factory producing counterfeit cosmetic products at Benue Plaza, Trade Fair Complex in Lagos State on Tuesday. In a post on it’s X official account, the NAFDAC officers raided the location discovering various unregistered chemicals and packaging materials, along with expired products that were being revalidated for sale. The Agency said the operation also led to the seizure of over 1,200 cartons of fake cosmetic products. “Items including mini-mixing containers, unlabelled chemicals, batch coding materials, and thinners, were confiscated and moved to the NAFDAC office for further investigation. The Agency estimated the street value of the confiscated items to be around ₦50 million. NAFDAC urged the public to be cautious when purchasing cosmetic products and report any suspicious activities to the nearest NAFDAC office.

Post Date : September 17, 2024

Nigerian Catholic Priest Indicted on Sexual Assault Charges in U.S.

A Nigerian Catholic priest has been indicted in McLennan County, Texas, on felony sexual assault charges, following accusations of sexual and financial abuse from multiple victims, according to court documents and investigative reports cited by The New York Times on September 15, 2024. Father Odiong was indicted on Thursday on two counts of second-degree sexual assault and one count of first-degree sexual assault. He was arrested in July in Ave Maria, Florida, after investigators discovered child pornography while probing allegations of sexual assault filed with the local police, according to a statement from the Waco Police Department. Although he has not yet been indicted for possession of child pornography, Detective Bradley DeLange indicated that further charges could follow. The investigation into Father Odiong began months earlier after police received “credible information” about a sexual assault he allegedly committed in 2012. Detective DeLange reported that multiple women with similar accounts of abuse came forward during the investigation, revealing patterns of groping, sexual assault, or financial exploitation. Among these was a woman who had sought Father Odiong’s guidance regarding her marital issues. Under Texas law, engaging in sexual activity with individuals who depend on clergy for emotional support qualifies as sexual assault. Father Odiong served as a priest at St. Peter Catholic Student Center in Waco, Texas, and at St. Mary’s Church of the Assumption in West, Texas, from 2007 to 2012, as well as in Luling, Louisiana, from approximately 2015 to 2023. He was taken to McLennan County Jail on August 6 and is currently held on a $2.5 million bond, according to jail records. If convicted, he faces up to 20 years in prison for the second-degree charges and potentially life imprisonment for the first-degree felony charge, as noted by Christopher King, an attorney representing several victims in a separate civil suit against him. In February, The Guardian reported on the allegations, which Father Odiong denied in an April Facebook post, labeling them as a “false, salacious and one-sided smear campaign.” Archbishop Gregory Aymond, who oversaw the Diocese of Austin, Texas, during Father Odiong’s early years there and now leads the Archdiocese of New Orleans, where Father Odiong served in recent years, has been notified of the situation. Bishop Joe S. Vásquez, the current head of the Diocese of Austin, stated in July that the diocese would fully cooperate with law enforcement. Sarah McDonald, a spokeswoman for the Archdiocese of New Orleans, confirmed that Father Odiong was in their ministry at the request of the Diocese of Uyo in Nigeria. “When the archdiocese became aware of allegations of criminal activity, we reported him to law enforcement and removed him from ministry,” Ms. McDonald said in a text.