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States Groan Over Delayed Revenue Sharing, FAAC Meets Today

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The Federation Account and Allocation Committee meeting initially scheduled for last week will now hold on Tuesday and Wednesday.

The Chairman of the Finance Commissioners Forum, David Olofu, and the Delta State Commissioner for Finance, Mr. Fidelis Tilije, disclosed this.

But Olofu, who is also the Benue State Commissioner for Finance, added that the delay in holding the FAAC meeting had affected the activities of many states including payment of salaries and capital expenditures.

FAAC, which is headed by the Minister of Finance, Budget and National Planning, and whose members include state Commissioners of Finance,  states’ Accountants – General, Accountant – General of the Federation, and the Permanent Secretary of the Federal Ministry of Finance meets every month to share revenues among the federal, state and local governments.

The FAAC meeting was scheduled to hold on Wednesday and Thursday last week, but the Federal Ministry of Finance, in a statement on Wednesday by its Director of Home Finance, Stephen Okon, said it had been postponed indefinitely.

The postponement of the meeting, which the ministry said was due to certain circumstances came a few days after the Economic and Financial Crimes Commission arrested the Accountant General of the Federation, Ahmed Idris,  over an alleged N80 billion fraud.

On Wednesday, the Minister of Finance, Budget, and National Planning, Zainab Ahmed,  announced an indefinite suspension of Idris without pay.

When contacted on Monday, Olofu, who declined to comment on Idris arrest, said that the delay in the sharing of this month’s allocations had affected most of the states of the federation from meeting their obligations.

He stated, “We are holding FAAC meetings on Tuesday and Wednesday, adding, ‘the delay has affected government activities.

“We have cash group plans at states, those cash group plans have not been met, so that has put in the cooler all plans of cash group and they have yet to be met including payment of salaries and capital expenditure because over 28 states in the country rely on federal allocation except Lagos and Rivers. In fact, no other states again, all other states depend on allocation,” Olofu said.

On his part, the Ekiti State Commissioner for Finance, Akin Oyebode, said the delay in the FAAC meeting brought to the fore the need to ensure fiscal federalism.

The commissioner, who said that Nigeria was producing less crude than the OPEC quota and spending heavily on pipeline security and infrastructure, said, “Despite the huge spending on security, we are still unable to secure our pipelines, we can see heavy theft of crude oil, that should concern anyone.

“Despite significant investment in agriculture, agriculture is still growing at 3 percent per annum. We should be asking questions about how do we invest in storage and irrigation which are the big drivers of productivity in agriculture, which is the mainstay of our economy. These are conversations we should be having.   

“We should be having conversations about how do we decentralize our grid infrastructures, how do we put in the grids that we need to deepen and increase electricity generation. We need a conversation around even fiscal federation – is the current revenue sharing formula the right one?

“Oil production has dropped to about 1.4 million barrels per day and we are spending hugely on subsidies. Not only are we earning less from crude, but we are also actually spending more to import refined products. At the end of the day, we are going to end up with the position that subsidy is simply not sustainable and something has to be done.

“, I think, in the spirit of fiscal federalism, the states should be given the choice whether or not they want the subsidy for the refined products being sold in their state.

The Delta State Government has said even though Federation Account Allocation A Committee (FAAC) does not hold its meeting, it will not affect Delta state’s finance.

The State Commissioner for Finance Mr. Fidelis Tilije stated this on Monday in an interview in Asaba, said that there will be FAAC meeting on Wednesday.

Economists urge states to be self-reliant in revenue generation

Commenting on the delayed FAAC meeting, A political economist and former presidential candidate, Prof Pat Utomi, urged States to create an environment for wealth creation rather than depend solely on the federal allocation.

He said, “States must focus more on creating the environment for wealth creation. If you go back to the late 50s and early 60s, most of the developments that took place in Nigeria are from the subnational governments. They collected the revenues, and send 50 percent of it to the center but the military ruined all of that.

“So, Nigeria became more focused on sharing revenues than on the fundamental way of governing, which is the production and taxing earned revenue. Whenever there is no revenue to share, the States are incomplete trouble and they become bureaucracies that are unable to manage themselves because they are dependent.

“This is not the way they should function. I have in fact argued that local governments should be restructured as economic development areas rather than political drain pipes where a local government in Ogun will be struggling with the one in Oyo to offer better incentives for businesses to relocate so that they can benefit from the tax.”

A Professor of Economics at the Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Prof Sheriffdeen Tella, said that one of the reasons for the delay is likely the recent arrest and suspension of the Accountant-General.

He added that States should stop depending on the federal government and find a way to boost revenue.

Tella said, “I think the delay is caused by the action of the Accountant-General who stole money. He happens to be a major stakeholder in the meeting they are supposed to hold to decide on the allocation. It also exposes the States’ dependence on the Federal Government. That is not good enough because there is no state that cannot take care of itself if they are really working if the governors are thinking out of the box.”

He further said that this delay may lead to States being unable to pay salaries, adding that the States may also owe creditors and contractors, which may affect productivity levels.

“The major delay will be on salary payment. It would also be on paying their creditors and contractors. When this happens, it will likely affect productivity and reduce output,” Tella said.

NEC meeting fails to hold two consecutive months

He stated this as the National Economic Council chaired by the Vice President, Professor Yemi Osinbajo, SAN, failed to meet for two consecutive months as most members, including those contesting the 2023 elections intensified their electioneering.

Impeccable sources close to council members who spoke to one of our correspondents anonymously affirmed that there has not been any sitting in April and May. More so, there were no prior announcements of suspension of NEC meetings.

According to the source, “Yes, there have been no meetings for two months now. Also, there was no official communication to members that the meeting won’t be held in the coming months.

“I believe everyone understands that this is an election season and they all moved on with their political activities.”

BIG STORY

Aare Adetola Emmanuelking Shines Bright As The Remo Day “Man Of Steeze” [PHOTOS]

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The Gateway Stadium, Sagamu was aglow yesterday, the 27th of December, 2024, as the maiden edition of Remo Day culminated in a grand rally celebrating the unity, culture, and progress of Remoland. Hosted by the revered Akarigbo of Remoland, the event brought together dignitaries from across the nation, including the Chief of Staff to the President of Nigeria, Hon Femi Gbajabiamila, the esteemed Governor of Ogun State, Prince Dapo Abiodun (MFR) and the first lady of the state, The Ewusi of Makun, HRH Oba Timothy Oyesola Akinsanya, ORUNAGBA II, Chairman of Adron Group and Otun Akile of Remoland Aare Adetola Emmanuelking, amongst others.

Aare Adetola Emmanuelking’s presence stood out in class as he brought unparalleled style, sophistication, and charm to the occasion. Dubbed the ” Remo Day Man of Steeze,” Aare Adetola made an unforgettable entrance, draped in an exquisite wine agbada adorned with intricate embroidery, accessorized with traditional coral beads, and crowned with a regal fila. His look, a masterclass in cultural elegance, radiated confidence and pride in Yoruba heritage, instantly earning him admiration from the gathered audience. Known for his charisma and commitment to the development of Remoland, Aare Adetola was the epitome of poise and grandeur as he engaged with other top dignitaries and attendees. From his interactions to his overall demeanor, every aspect of his presence reflected a deep connection to his roots, and an unyielding passion for community growth.

Communities from across Remoland including Epe, Makun, Iperu, Irolu, Emuren, Ogere, Ikenne, Ilara, Ode remo, Isara, Ipara, Ilishan, Soyindo, Ijagba, Ado, Ode lemo, Ibido, Idena, Ogijo, Atayo, Eposo, Idado, Latawa, Oko, Ipoji, Lowa ibu, Igbepa, Ijoku, Iraye, Ilupeju, Iraniken, Okeselu, Simawa, Ilaye, Iraye, Agura, Igode, Sotubo, Ariye , Araromi, Imushin, Imeji, Agbehinsa , and many more, converged at the Gateway Stadium to pay homage to the Akarigbo of Remoland, a revered symbol of unity and cultural pride. This act of respect and solidarity emphasized the deep-rooted connection between the people and their traditional ruler as they celebrated the remarkable growth and development of Remo. Among the many groups, Iyaniwura Base stood out under the distinguished leadership of Aare Adetola Emmanuelking. Following in his illustrious footsteps, the group brought a splash of vibrance to the event, dazzling attendees with their matching cultural attires that reflected the rich traditions of Remoland. Their coordinated elegance and enthusiastic homage added a memorable touch to the grand celebration.

The Remo Day celebration, themed “In Unity & Culture, We Thrive,” was more than a cultural showcase. It was a celebration of the strength and progress of Remoland, featuring colorful displays of traditional dance, drumming, and artwork. Amid the festivity, Aare Adetola’s magnetic personality and gallant appearance was a true highlight of the day. The Grand Rally provided a perfect backdrop for celebrating individuals who embody the spirit of Remo’s advancement. In Aare Adetola Emmanuelking, Remo found a true cultural icon, someone who not only lives the values of the community, but also inspires others to embrace and promote its legacy with pride and dignity.

The Remo Day celebrations may have concluded, but the image of Aare Adetola, standing tall in his resplendent attire, remains etched in the memories of attendees. Aare Adetola Olaonipekun Emmanuelking- a name synonymous with grace, culture, and unshakable pride in Remoland’s illustrious heritage. Indeed, the “Remo Day Man of Steeze” has set a standard that will resonate far beyond Remoland.

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BIG STORY

“My NGO Account Has Been Hacked, N160Million Diverted” — VeryDarkMan

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Popular activist and social critic, VeryDarkMan, has raised concerns about the hacking of his NGO account, which led to the diversion of N160 million.

In a video shared on his verified Instagram account on Friday, he revealed that the incident had left him feeling distressed in recent days.

He explained that the funds were stolen after hackers allegedly gained access to the NGO’s website. The compromised account, which initially contained N180 million, now holds only N20 million.

He mentioned that law enforcement agencies had tracked one of the suspects, resulting in an arrest.

To address the situation, he stated that the NGO’s app had been temporarily taken offline for maintenance to prevent further vulnerabilities.

He said, “For the past few days, I’ve not been myself. I am here with Officer Joe, and we are going to Jos. NGO money—somebody stole the money. Somebody hacked into the NGO website, and I don’t know how they did it. N180 million is missing, but thank God we have tracked the person, and we are on our way to Jos.

“They have arrested one person, and that is why I’m even saying it now. I’m excited, and the account has been put on PND. The account now has N20 million, while N160 million has been diverted to another account. We are currently going there to see how we can get the money back. I just want to update you people.

“I even had to shut down the app and put it on maintenance so that people will not really see what is going on, but let me just come out plain and tell everyone what is going on. Hopefully, we will get the money back.”

The NGO, which launched in October, gained significant attention after raising over N21 million within 24 hours of its inception.

The initiative, aimed at transforming Nigeria’s public education system, attracted support from prominent figures, including music producer Don Jazzy.

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BIG STORY

Christmas Celebrations: Police Arrest 23 Suspected Armed Robbers, Hoodlums, Kidnapper, Recover Dangerous Weapons [PHOTOS]

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  • As IGP Commends Officers For Vigilance, Commitment To Safety

 

In furtherance of the directive of the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM., to commands and formations to emplace unalloyed anti crime strategies towards ensuring adequate safety and security during this festive period, operatives of the Nigeria Police Force across several states in the country have successfully apprehended multiple groups of armed robbers, cultists and hoodlums targeting fun seekers and engaging in gangsterism during Christmas celebrations.

On the 25th of December 2024, at about 1am, the police operatives attached to Lagos State Command, received a distress call that a group of hoodlums armed with dangerous weapons was operating around the Safejo area of Amukoko, Lagos State. The swift response by the police operatives to the scene led to the arrest of 3 of the suspected hoodlums identified as Emmanuel Okoli ‘m’, 20 years, Ogunde Tejiri ‘m’, 20 years, and Emmanuel Orji ‘m’, 18 years, and also the recovery of the weapons they had used in carrying out robbery attacks on innocent funseekers in the area. The police have emplaced intensified searches to apprehend the fleeing members of the gang.

In a similar development, Police Operatives attached to Saminaka Division of the Kaduna State Command on 25th December 2024, at about 8pm, successfully apprehended one Sule Muhammad ‘m’, 25 years, who has been actively involved in multiple kidnapping incidents within the Saminaka area. Further investigation led to the recovery of a fabricated AK-47 rifle from the suspect. The suspect confessed to being a member of a notorious kidnapping gang who had been evading arrest since the arrest of other gang members on August 16, 2024, until his recent arrest on 25th December 2024. Following cooperation received from Muhammad, efforts are in top gear to apprehend other members of his gang and recover more arms and ammunition in their identified camp. Commendable efforts of the Nigeria Police Operatives have also been witnessed in states including Delta, Ogun Katsina, Benue, FCT and Imo, leading to the arrests of several suspects in various locations during the Christmas celebration period.

The IGP has commended the officers involved in these operations for their vigilance and commitment to public safety, highlighting their display of exemplary dedication in safeguarding our communities, especially during this joyful season. The IGP urges the public to remain vigilant and report any suspicious activities to the authorities.

The IGP further assures citizens that the Force is fully committed to creating a safe environment for everyone as they partake in the joy and cheer of the holiday season. As the celebrations continue, the Nigeria Police Force remains steadfast in its mission to protect all citizens and ensure that the spirit of festivities during this period remains unmarred by criminal activities.

 

ACP OLUMUYIWA ADEJOBI, mnipr, mipra, fCAI,

FORCE PUBLIC RELATIONS OFFICER

FORCE HEADQUARTERS,

ABUJA.

27TH DECEMBER 2024.

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