Connect with us

Politics

Senate Gives CBN Governor Ultimatum To Appear Over Missing $9.5m

Published

on

BREAKING: I'm Yet To Decide On Contesting For Presidency - Emefiele

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has been given an ultimatum of seventy- two hours to appear before the Senate.

He is expected to explain what led to the alleged disappearance of $9.5 million interest that accrued from Petroleum Profit Tax (PPT) investment.

The summons follows a report by the Auditor-General for the Federation, which probed the spendings of federal government agencies.
According to Senator Matthew Urhoghide, Peoples Democratic Party, PDP, Edo South led Senate Committee on Public Accounts, the principal sums deposited, the tenor, and rate of interest were shrouded in secrecy.

The Chairman of the Senate Committee on Public Accounts, Senator Urhoghide who noted that there were many issues the CBN governor needs to respond to corroborate some statements of account, said that the apex bank governor has till Thursday this week to appear to address those issues before the committee.

READ ALSO: Woman Arrested For Killing Her Mother Pastor Called A Witch

Petroleum profit tax (PPT) is a tax applicable to upstream operations in the oil industry. It is particularly related to rents, royalties, margins, and profit-sharing elements associated with oil mining, prospecting, and exploration leases.

The committee had two weeks ago summoned the officials of the apex bank over the alleged disappearance of the fund. The apex bank however failed to appear before the senators.

The report read: “During the examination of transfers to Foreign Excess PPT/Royalty and Foreign Excess Crude Accounts, it was observed that during the year 2016, amounts totaling $6 million and $3.5 million were credited to the Foreign PPT/Royalty and Foreign Excess Crude Account as interest on funds investments.

“The authority for placing the funds which yielded the above interests totaling $9.5 million in a deposit account, the principal sums deposited, the tenor and rate of interest were not made available for audit verification. “This observation had also been a subject of my reports since 2017 without any positive response from Central Bank of Nigeria. “Records made available for audit further revealed that the balance in the foreign PPT/Royaltt and

Foreign Excess Crude accounts as of 28th December 2016 were USD0.00 and USD251,826 respectively.

“This suggests the foreign PPT/Royalthy was depleted before the year-end.

“The Accountant General has been requested to provide the authority for the funds invested, the tenor of the investment, rate unrest payable, certificate for the funds invested and forward same for audit verification.”

Read more authentic news on our social media platforms

Continue Reading
Click to comment

Politics

BREAKING: PDP Wins, Clears All 30 Councils In Osun Poll

Published

on

The Peoples Democratic Party (PDP) on Saturday emerged the winner for  the election for all the chairmanship and councillorship seats in all the 30 local government areas of Osun State.

The election was held on Saturday.

The Chairman of the Osun State Independent Electoral Commission, Hashim Abioye, announced the results at a press conference in Osogbo, the state capital on Saturday evening.

Continue Reading

Politics

Bisi Akande Drags Obasanjo Into Bola Ige’s Murder

Published

on

By John Michael Ojo

Bisi Akande, a former governor of Osun State, has alleged that the administration of  former President Olusegun Obasanjo was responsible for the brutal killing of erstwhile Attorney General of the Federation, Chief Bola Ige.

Akande stated this while appearing  on Edmund Obilo’s podcast, State Affairs, where he also claimed that a friend Oluwole Rotimi, had given a hint on the impending danger if the deceased resigned from President Obasanjo’s government.

When asked to speak on the incident, the former interim Chairman of the All Progressives Congress (APC), said: “One evening, he (Ige) called me and said he was going to resign from this government tomorrow. It was sudden, and I said, ‘Please sir, I will come back to you.’ I called Oluwole Rotimi, and said this is what your friend told me: that he was going to resign from Obasanjo’s government tomorrow.

READ ALSO: South-West Governors, Tinubu, Akande, Akinrinade, Others To Meet Over State Of The Nation

“He asked me to advise him not to resign because if he does, he is likely going to die—he said that to me on the phone. I called Uncle (Ige) and begged him not to resign.

“He said he had talked to Wole Soyinka and Bola Tinubu, and both of them said he should resign. But I said, ‘Don’t. You can go to Obasanjo, tell him what you are angry about, and if he doesn’t want you anymore, here is your letter.’”

Akande who also claimed that Ige,  a Second Republic Governor of  Oyo State had issues bordering on trust with the then President said “Since he was resigning from his government, I think he stopped trusting him.”

However, Akande who was the governor of a neighbouring state when Ige was assassinated in Oyo State on the 23rd of December 2001, failed to provide names of those he felt were directly involved in the murder case.

“I don’t know. He was killed in Oyo State while I was ruling in Osun State. The government killed him (Bola Ige). It was a state murder.

“Lam Adesina, who was the Chief Security Officer of Oyo State then, went to court, and Ladoja withdrew the case from court. He might know more and be able to tell you.

READ ALSO: Adebanjo Wants EFCC To Probe  Sources Of Wealth Of Tinubu, Akande

“It was the government that killed him, and the government can kill anybody.

“Obasanjo wasn’t keen about Ige’s death; he was more interested in the stability of himself,” Akande maintained.

 

Read more authentic news on our social media platforms

Continue Reading

Politics

LG Election: Opposition Parties On Holiday, APC Remains Party to Beat – Abiodun

Published

on

My Dad Asked Me To Prioritise Civil Servants, Pensioners, Teachers - Abiodun
Ogun State Governor Dapo Abiodun

Ogun State Governor, Prince Dapo Abiodun has declared that based on the performance of his administration in the last five years, opposition parties are clearly unpopular and invisible in the forthcoming local government election.

The governor added that the quality of candidates the ruling All Progressives Congress (APC) is presenting in the election would make it the party to beat with landslide victory in all the 20 Local Government Areas of the State.

Speaking through his Special Adviser on Media and Communications, Hon. Kayode Akinmade, over the weekend, Prince Abiodun explained that his administration has changed the hitherto volatile political environment in the state and made it conducive for opposition parties to operate without hindrance or intimidation.

According to him, instead of the primordial machinery of intimidation, his administration has dwarfed the opposition parties in the state through sterling performance and creative ideas for development.

Governor Abiodun, therefore, urged members of APC in the state to show more commitment and work in harmony to sustain the feats already attained in the past years and ensure resounding victory during the November 16 local government poll.

“With the quality of candidates our party is presenting in the forthcoming local government election in the State, APC remains a part to beat; we have assiduously and consistently made remarkable impacts in the life of our people and this is indeed our selling point.

“Without going through the primordial route of physical intimidation of opposition parties, our administration has obviously silenced them by our intimidating projects, creative ideas and prudence, which have earned us a leading status among other federating units.

“It is now incumbent on every APC member across the 20 Local Government Areas to sustain the enviable feats our party has recorded in the last five years by showing more commitment and work in unison for the victory of our party come November 16,” Abiodun said.

Continue Reading

Top Stories