Television Nigerian

The Federal Government agreed for N800 to dollar exchange rate in the 2024 Appropriation Act on Thursday after assessing the naira’s average performance.

The 2024 budget’s foreign exchange benchmark was not based on a spot rate to prevent uncertainties.

The Minister of Budget and National Planning, Atiku Bagudu, told State House correspondents that the FG had chosen N750 to the dollar in the 2024 budget, which the National Assembly boosted to N800.

Bagudu stated, “You don’t use spot rates for budgeting. Today, oil prices could reach 120 due to a shortage or a ship collision that blocks a waterway.

“It would be foolish to use that as a reference price. I should observe this average behavior for six to twelve months—not spot prices. Even with the currency rate.”

He added, “We hope it will drop quickly, but when you prepare the budget, you will include average performance. We took it.

“We proposed a N750 executive average performance to the National Assembly.”

The minister said Tinubu approved of the National Assembly’s rate increase because he values democracy and institutions.

“He respected democracy that even though it was higher than what he submitted, but the institution that says so has the authority to say so, and even at the time they say 100 because it’s not an official rate it’s tidal because, with the deregulated market, you no longer have an official rate, it’s much lower than even the way the markets are bidding,” the

The minister stated that the FG is confident that its present efforts will boost foreign exchange supply quickly.

In 2024, the budget borrows significantly less to pay the deficit than last year, Bagudu said.

Nearly N14tn was expected to be borrowed in 2023. N9.1 trillion is this year’s budget. That seems significant.

In 2023, we borrowed 6.11 percent of our GDP. The percentage is 3.8%. So the quantity fell, Bagudu said.

In the new year, the former Kebbi State Governor said the FG will follow fiscal responsibility law, which allows the Central Bank of Nigeria to lend the government only 5% of the budget through its Ways and Means window.

We would not borrow from ways and means outside the law, he said. According to the fiscal responsibility statute, the central bank can lend the government up to 5% of its budget annually.

If you go beyond that, you’re outside the lawful limit, and the Finance Minister and Coordinating Minister of the Economy made it clear we won’t. We won’t borrow outside the law.

“Secondly, we will borrow from the central bank whenever possible because it is cheaper. The two elements are those. As the quantum has dropped, we shall follow the book.”

A new measure that would amend the part of the statute that created the position of the National Security Adviser (NSA) has been advised against by the Non-State Actors Consultative Forum (NOSACOF).

The forum warned President Bola Tinubu in an open letter that such a move would seriously jeopardize the security architecture of the country.

The letter begged Tinubu to forbid the realization of such a proposal and was signed by Abdulrazaq Alkali, the coordinator of NOSACOF.

The correspondence, dated January 9, 2024, is addressed to President Bola Ahmad Tinubu and says:

Let’s begin by wishing you a happy new year and praying to God for a peaceful and prosperous year for all Nigerians.
Honorable, We are deeply concerned about Nigeria, our dear country, and we write this message to you with great patriotism and dedication. Ever before your administration took office, Nigerians have understood that things would not continue as usual and that significant institutional and policy reforms would be necessary to save the nation. While he is at it, Mr. President must be aware of the efforts being made by certain individuals and politicians in the government to mislead him into authorizing certain structural and constitutional changes to certain government institutions, all the while hiding the fact that their true motivation is their own political and personal gain. Mr. President, Sir, the current effort by certain members of your administration to amend the National Assembly’s NSA establishment clause and enable the NSA to hire and establish its own staff in a manner akin to that of current government agencies and parastatals is misguided and could set a dangerous precedent.

First and foremost, adopting this law will require either a revision of the relevant section of the constitution to make room for the bill or a revamp of the NSA’s whole architecture to avoid conflicts with the provisions that established it. In addition, the bill’s final result is to reorganize the National Security Agency (NSA) into a parastatal or agency with unrestricted authority over other intelligence organizations that now exist, including the Department of State Service (DSS), the National Intelligence Agency (NIA), and the Military. The functions of these agencies may overlap significantly as a result, which will exacerbate the rivalry, discord, and lack of cooperation among the many security services. The NSA has been the center of attention for preserving and enforcing cooperation amongst the security agencies at the moment. A major factor in its success is that it draws personnel and cooperation from the various agencies, making the NSA office seem like a partner agency to the agencies.

Second, the NSA typically hires personnel with training and experience from security agencies (i.e., personnel with training and expertise to perform national security jobs). Consequently, turning the NSA office into an agency and letting it hire employees on its own will drastically cut down on how efficiently the office runs its business. The NSA office will have to spend years, if not decades, and billions of Naira training staff members to the required level of competency. The other security agencies will be reluctant to share staff members with the NSA because they will feel like they are no longer stakeholders in the NSA office. This is because the NSA office will not be able to fill the roles with candidates who have the desired expertise and speciality. Considering the nation’s current financial and security issues, this is undoubtedly the wrong action made at the wrong time.

Finally, Mr. President, let me say that the NSA office is renowned for being one of the few that employs highly qualified personnel who are chosen from among the many security agencies primarily on the basis of their qualifications, abilities, and merit. The risk of politicization through biased and unjustified recruitment, which has been observed in many government agencies (including some security agencies), exists if the NSA is permitted to follow the path taken by other agencies and parastatals. This will not be beneficial to our national security if it occurs in the NSA office.
The responsibility for choosing the best choices for our nation rests with you, Mr. President, and I have no doubt that you will refuse to allow a law of this nature to be passed with your name or endorsement.

On Thursday, the Akwa Ibom State Governor Umo Eno Bassey’s election was declared void due to purported certificate forgery, according to three different petitions filed with the Supreme Court by potential contenders for governor.

The petitions were submitted by the candidates for governor of Akwa Ibom on March 18, 2023, from the All Progressives Congress (APC), Young Progressive Party (YPP), and New Nigeria Peoples Party (NNPP).

Lead attorneys for each party withdrew their individual appeals when the Supreme Court’s panel of Justices hinted that they lacked substance.

When the APC and its candidate, Akanimo Udofia, withdrew, Justice Uwani Abba-Aji dismissed the petitions. The YPP and its candidate, Akpan Albert Bassey, and the NNPP and its candidate, John James Akpan Udoedehe, also withdrew.

The Supreme Court was persuaded by the attorneys in the case in vain that the governor had falsified his secondary school certificate and that “Emo Eno Bassey” and “Bassey Eno Emo” were not the same person.

Their arguments, particularly the forgery claims, did not sit well with the justices of the supreme court, who questioned the attorneys about whether the West African Examinations Council, or WAEC, had provided proof to support the criminal accusations.

The attorneys chose to individually withdraw the appeal because it was acknowledged that WAEC had not testified in the case.

Since there were no objections from attorneys representing the various respondents, Justice Abba-Aji dismissed them as a result.

The Supreme Court did not award cost against any of the lawyers to the appellants, having voluntarily withdrawn their suits on basis of want of merit.

The victory of Governor Umo Eno of Akwa Ibom State in the March 18, 2023, governorship election was upheld by the Court of Appeal in Lagos in November of last year

Three different appeals against the governor’s election were dismissed by the appellate court in its ruling.

The appeal filed by YPP governorship candidate Bassey Akpan and his party against the Independent National Electoral Commission, INEC, Eno, and the PDP was dismissed by the three-member panel of Justices of the appellate court, led by Festus Obande, even though they upheld the September 28, 2023 rulings of the election petition tribunal.

In addition, Justice Obande rendered rulings in support of the governor against the appeals of APC candidate Akanimo Udofia and NNPP candidate John Udoedehe.

All three of the appeals were found to be without merit by the appellate court in its unanimous rulings.

Popular Nigerian Nobel laureate, Wole Soyinka has raised worries over the safety of the former minister of electricity and steel, Olu Agunloye in Kuje prison.

According to reports, Agunloye was charged with fraud on Wednesday at an Abuja High Court by the Economic and Financial Crimes Commission (EFCC).

Agunloye was remanded in prison by the court’s ruling.

In response to the news on Wednesday, Soyinka recalled that the late Bola Ige was killed in his bedroom, adding that the perpetrators were still at large. This information was provided in a statement released by his spokesperson, Jahman Anikulapo.

He stated Agunloye, a critical witness in Ige’s case, may be killed in jail.

“We have learned that Dr. Olu Agunloye was ultimately charged in court today. The presiding judge wisely postponed the hearing and then remanded the accused.

I want to let everyone know, including the government, that there is legitimate, serious fear for Agunloye’s safety.

“Let me be clear: there was a connection between Bola Ige’s murder and the Mambilla fraud. To identify Ige’s killers, Olu Agunloye and I collaborated extensively both inside and outside of regular police procedures.

So, to suggest that there aren’t any forces that are sufficiently determined to give Agunloye the same fate as Bola Ige would be unforgivable complacency.

“Understand that the consequences will be loud, clear, and unequivocal if this crucial witness is harmed while in detention,” Soyinka issued a warning.

The Economic and Financial Crimes Commission investigators questioned a number of high-ranking civil personnel connected to the scams on Wednesday, furthering their investigation into the problems at the Ministry of Humanitarian Affairs and Poverty Alleviation.

It was discovered that N50 billion was retrieved from the ministry of humanitarian affairs by the Independent Corrupt Practices and Other Related Offenses Commission.

The funds that were going to be embezzled were retrieved by the ICPC in July and August of 2023 and transferred to the Nigerian Central Bank.

Information surfaced that the fund, intended for citizens in need, was halted during attempts to move it into private bank accounts while it was under the leadership of former Minister Sadiya Umar-Farouq. It was subsequently retrieved by the ICPC, which was led by Bolaji Owasanoye.

The N50 billion was then given to the Federal Government, led by President Bola Tinubu, according to a reliable government source who spoke with our correspondent.

The source confirmed the news, saying, “President Tinubu had not yet named a new minister of humanitarian affairs when the cash were retrieved after the departures of Umar Farouq and previous President Muhammadu Buhari.

Fund recovered

“To mitigate the impact of the removal of fuel subsidies, President Tinubu directed the Accountant-General of the Federation to return the funds to the Ministry from the Infrastructure Support Fund for the 36 states and the Federal Capital Territory, following the appointment of Betta Edu, the now-suspended Minister of Humanitarian Affairs.”

The repaid amount is a portion of the N585 million that Edu was given permission to disburse and the N44 billion that was allegedly laundered in the National Social Investment Program Agency.

Additional information regarding the fund’s interception and recovery was provided by the following source: “The ICPC, led by Prof. Owasanoye, banned and retrieved N50 billion from the Ministry of Humanitarian Affairs during the naira shortage that occurred in late 2022 and early 2023.

After the commission looked into it more, N18 billion more was blocked and taken from the ministry in addition to the N32 billion that had previously been stopped and recovered. Due to a lack of cash during the naira redesign period, the ministry headed by the former minister, Umar-Farouq, was unable to deliver the funds intended for the nation’s impoverished and vulnerable citizens, as the ICPC discovered.

Between July and August of 2023, the funds were deposited into the government’s coffers. There was no new minister in place last year, and some ministry employees tried to transfer the money into personal accounts while the previous minister was out of office. When the ICPC learned of the dubious and dishonest way the funds were supposed to be disbursed, it promptly halted the funds, which were later recovered.

In order to mitigate the impact of the removal of fuel subsidies, President Tinubu announced the creation of the Infrastructure Support Fund for the 36 states and the Federal Capital Territory. The Federal Government then transferred the funds into the Humanitarian Affairs Ministry, which is headed by Betta Edu and is responsible for poverty alleviation initiatives.

Questioning civil servants

EFCC agents continued their investigation on Wednesday by questioning a number of top civil officers in the ministry of humanitarian affairs.

Despite the lack of clarity around the officials’ background, our reporter was informed with confidence that they provided the investigators with valuable evidence that helped them uncover financial misconduct within the ministry.

Along with former minister Sadiya Umar-Farouq, the investigators also met with Halima Shehu, the suspended CEO and National Coordinator of the National Social Investment Programme, an organization that falls under the humanitarian ministry, and suspended Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu.

Umar-Farouq, a minister under former President Muhammadu Buhari, was under investigation for alleged N37 billion money laundering while Edu is being probed for approving the transfer of N585 million into the private account of a ministry accountant, Bridget Oniyelu.

But Shehu was under investigation for allegedly transferring N44 billion from the National Security Initiative into certain corporate and private accounts without the president’s consent.

The women arrived today (Wednesday), and they are assisting the commission, according to an EFCC source.

The EFCC has questioned director generals and other top officials working under the Ministry of Humanitarian Affairs, and they continue to do so. Senior bank officials continue to be questioned about the purported money laundering.

The N585 million payment, according to Edu, who was suspended by President Bola Tinubu on Monday, was intended for vulnerable populations in the states of Lagos, Ogun, Cross River, and Akwa Ibom.

Her media assistant, Rasheed Olarewaju, had asserted that it was permissible in the civil service for employees, particularly project accountants, to receive payments of this kind into their private accounts.

The minister’s request to deposit N585 million into the private account was not honored by the Office of the Accountant-General of the Federation, Dr. Oluwatoyin Madein.

As MDAs are self-accounting organizations, she noted, the AGF does not make payments on their behalf.

The Peoples Democratic Party and the Labour Party, meantime, have directed the anti-graft authorities to expand their current investigation to include all departments, ministries, and agencies that are connected to corrupt activities.

A probe of civil workers and other ministries “would bring some semblance of truthfulness into the system,” according to the LP, while the PDP said that corruption was still present in practically all MDAs.

According to Okechukwu Osuoha, the PDP’s deputy national legal adviser, all ministries should look into their public servants since they may be used as tools to commit fraud.

He stated that in addition to exposing the fraud, a comprehensive and all-encompassing probe would assist in monitoring the actions of civil officials across all ministries.

Indeed, Osuoha said, “The EFCC ought to look into other ministries.” Corruption persists among government servants and in other ministries. This is not the beginning of it. Corruption exists throughout our system, particularly in the public sector.

“Corruption is at its height; corrupt activities are not limited to the Ministry of Humanitarian Affairs; other ministries are also implicated in corrupt activities.” Misappropriation of public monies and embezzlement of funds are problems.

The government and relevant authorities ought to concentrate on each of them, therefore. An investigation of them is warranted.

“In most ministries, you will typically find civil officials engaging in numerous fraudulent acts. Due to their constant presence as fraud machinery, they are the most guilty. In light of this, all of them require investigation by the Federal Government and the anti-graft agencies.

Ibrahim Abdullahi, the PDP’s Deputy National Publicity Secretary, stated that more inquiries into other ministries and government employees are warranted.

Indeed, he said, the investigation needs to be comprehensive and include the government personnel. Deterrence against malicious and dishonest Nigerians would be its main function. It would also be wise to look at other ministries.

Group offers FG advice.

Yunusa Tanko, the spokesperson for the 2023 LP’s Presidential Campaign Council, also spoke and said that expanding the investigation to include all MDAs will contribute to the purification of the public service.

Ministers are powerless to act alone, according to Tanko, who demanded an open investigation. The entire process involves the government servants. The President ought to include more departments and government employees in the inquiry. It will aid in system sanitization.

The fact is that everyone is impacted when the head faces credibility issues. The difficulties facing leadership are the reason behind the unparalleled embezzlement of public funds occurring across many social classes.

Thus, when one fish’s head is rotting, it affects the others as well, which is why there is so much looting going on. But if the government really wants to clean up the system, then expanding the investigation to include more ministries and public employees will lend legitimacy to the investigation.

Going ahead, he reasoned, an open probe will reveal all the MDA machinations and the people behind them.

“Everything that happens in these ministries and inside the civil service is connected in some way, which makes this significant. Thus, one person is unable to undertake numerous acts of this kind. There are other people involved, somehow. Thus, an open inquiry will provide some approximation of the truth, he argued.

In support of the request to expand the current investigation to include additional MDAs, Debo Adeniran, Chairman of the Center for Anti-Corruption and Open Leadership, said that the EFCC should also interview the permanent secretary and other ministry directors, pointing out that they should have provided the minister with the appropriate training on public procurement.

He went on to say that in order to verify procurement orders, the ICPC should establish Anti-Corruption and Transparency desks in each ministry.

In actuality, the people who ought to have been detained and questioned the most were the Permanent Secretary, the Director, Finance, and Administration, and the Accounting Officer in that ministry. It is their responsibility to provide Betta Edu, the political appointee in that ministry, with the necessary training on civil service procedures regarding financial and procurement matters.

Every MDA, including the Ministry of Humanitarian Affairs, is intended to have a desk manned by the ICPC. ACTU, or Anti-Corruption and Transparency Unit, is the intended name for the ICPC desk in that ministry. Additionally, each procurement transaction will go through the ACTU desk, and the ACTU will check to see if the order complies with civil service regulations or not, the speaker stated.

Chido Onumah, the Coordinator of the African Center for Media Information and Literacy, expressed his support for additional investigation into the ministry of humanitarian affairs and other MDAs, stating that the case was “a door into possible scandals in other MDAs.”

This is only a doorway into what we all know—or assume—to be widespread corruption throughout ministries, departments, and agencies, the speaker said. I hope it gives the anti-graft authorities and this administration the chance to take action.

“Maybe not exactly, perhaps the minister understood what they were doing. However, the argument I’m attempting to make is that there is a grave lack of protocol and an institutional failure here.

“The permanent secretary is essentially the accounting officer, and in my opinion, it is appropriate for him or her to draft memoranda before submitting them to the minister after they have to go through certain formalities.

“There should be more inquiries made regarding what happened, regardless of who sent the memo to the minister directly or the permanent secretary.”

In the meanwhile, Abel Enitan, the Permanent Secretary of the Ministry of Humanitarian Affairs and Poverty Alleviation, has assumed leadership of the ministry’s operations subsequent to the suspension of Minister Edu.

President Bola Ahmed Tinubu sacked the minister on Monday in response to reports that N585 million had been transferred into a private account.

She’d been told to turn herself in to the permanent secretary and to help the investigative authorities while they carried out their inquiry.

Enitan took over after he supposedly received a letter on Monday night from the Government of the Federation’s Secretary’s office.