Comments Off on ‘CLEARING THE AUGEAN STABLE OF THE CENTRAL BANK OF NIGERIA – AN IMPERATIVE FOR OUR SOCIO-ECONOMIC ADVANCEMENT AND INDUSTRIAL DEVELOPMENT’
Since the removal of the erstwhile Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele by President Bola Ahmed Tinubu, GCFR, most Nigerians and critical players in the nation’s financial industry have renewed hope that the Government under his watch is determined to see through economic reform policies to heal the country’s ailing economy and bring us out the present economic duodenum. It is trite to emphasize that the CBN is strategic to actualising virtually all the set, reforms objectives of the government and the aspirations of the citizens for social reliefs from prevalent agonising economic pains, anguish, sufferings, and hardships the country is currently experiencing.
This task of cleansing the Central Bank’s Augean Stable is, however, extremely onerous especially when we consider revelations of illicit transactions, compromising sleaze, financial recklessness, and rudderless management in close to a decade reign of ex – Governor, Emefiele. This is why President Tinubu set up a Special Investigation Panel led by Jim Obazee to conduct a forensic audit of the account of the apex bank during the tenure of the former helmsman of the apex bank.
There are reports of clandestine as well as overt schemes by CBN cabals to frustrate the investigations of the Obazee led Investigation Panel. Preliminary reports filtering into the public domain, however, seem to show that there are lots of worms, maggots and poisonous vermis in the decadent cans of the CBN. Many top management officers of the Bank have been fingered in the various financial malpractices during this period. The detention of the former Director of Finance of the Central Bank, Benjamin Fakunle by the Department of State Security Services, DSS is pursuant to a crafty attempt by Emefiele led management to cover its tracks with a suspicious Audit Report. Obazee Panel has fingered improprieties in the seven-year financial account audit of the Bank which is alleged to have deviated from globally recognised, International Financial Reporting Standards, IFRS. While Fakunle is also alleged to have paid a whooping N401 Million for the spurious audit document in violation of the Financial Reporting Council of Nigeria regulations.
This is just perhaps a tip of the iceberg of financial crimes committed by Emefiele led management team of the Central Bank. Most of which, with diligent investigations and prosecution constitute grave economic sabotage crimes against the nation and her citizens.
For us to comprehend the magnitude of the crimes committed by the CBN against the nation, we call into record the advisory of respected legal activist, Femi Falana, SAN to President Tinubu on empty federal treasury. Falana’s Low Hanging Fruits treaty offered a Twenty-Two (22) list of areas where the nation’s funds are cornered, awaiting the Federal Government’s summoning of requisite to access same. A former Editor of the PUNCH Newspapers, Bola Bolawole picked just Twelve (12) from Falana’s low hanging Fruits of the Federal Government’s Funds which an indolent, compromised Central Bank leadership left to fallow outside our national treasury. The sum total of these Twelve Items is N78 Trillion. Yet, President Buhari was busy borrowing to finance our annual National Budget of less than N22 Trillion!
If we just use the statistics of Mr. Femi Falana alone, it is clear that the resources of our great country in the hands of individuals, corporate cabals and even some compromised global institutions is sufficient enough for the government to address the infrastructural deficits afflicting the country. An Apex Bank that is up and doing in discharging its statutory responsibilities and patriotic duties would not have presided over a national economy that is prostrate, broke and insolvent. Funds that could have provided for social needs like sound transportation system – smooth road network, basic healthcare service, qualitative education for citizens, portable water, affordable housing, employment and security of lives and properties.
We unequivocally call on all anti-corruption agencies to beam their searchlights on the operations of the Central Bank and its principal management officials during this period to fully account for dereliction of their financial, fiduciary responsibilities to the country and citizens. We are confident that the funds outside our national coffers are sufficient to provide the necessary financial sinew to kick start Nigeria socio economic transformation and much vaunted technological-industrial advancement.
“No Permanent Friends or, Foes in International Relations. Only Permanent Interest”
On June 6th , 2023, the Commander of Presidential Guard of Niger Republic, General Abdourahamane Omar Tchiani led a military take over of the reins of government from the hands of democratically elected President Mohamad Bazouim. This would be the sixth coup d’état in the West Africa sub region; coming on the heels of miliary regimes in Mali since August 2020, Chad – April 2021, Guinea – September 2021, Sudan – October 2021, and Bukina Fasso – January 2022. The sub continental body, Economic Community of West African States led by Nigerian President Bola Ahmed Tinubu issued an ultimatum which lapse on 6th August 2023 for the usurper military junta to restore democratically President Bazouim back in power.
The Nigerien military putsch has put the coup – vulnerable West Africa sub region under spotlight, sparking off rows of salient heated issues on democracy, good governance, regional security, and influence of foreign powers not only in the sub region but continental Africa. The Nigerian Government sent a diplomatic envoy led by former military Head of State, Rtd. Gen. Abubarkar Abdulsallam and the Sultan of Sokoto Caliphate, Abubarkar Saadu to consult with the Head of Niger coupist on restoration of the overthrown Bazouim democratic government. This mission was, however, dead on arrival. As many persons clamour for military intervention, neighbouring West African States like Mali, Senegal, and other States in the continent vowed to align with the new Niger junta to defend its territories against any aggression.
The contending concerns revolve round the questions of Sovereignty, Democracy, Control of Natural Resources and Power – Play by Foreign Interests.
The tragedy of the emerging scenarios is that the interests of Africa and its peoples are not given true and thorough interrogations in finding panacea to the dooming sceptre of military interregnums in the continent. What is necessary is, multilateral relations, diplomatic solution that will address fundamental interests of Nigeriens, the Sub Region and Africa, survival, and freedom from the manacles of Foreign Powers’ exploitation of our natural resources and domination of African people.
A critical overview of the African landscape will reveal a continent blessed with abundant natural resources which the entire globe is scrambling to exploit and control at the detrimental expense of Africa and its people. The Map of Africa Natural Resources reveal huge deposits of Gold in South Africa, Mali, and Ghana; Diamonds in Botswana and Congo D.R; Crude Oil in Nigeria, Libya; and Uranium in NIGER REPUBLIC. The scramble for exclusive exploitation of Uranium by its former colonial power, France and Transnational Corporations is the main causative factor for the escalation of instabilities in Niger Republic.
The Western Power bloc, queuing behind France is routing for Tchiani and his comrades in arms to go back to the barracks and restore democratic government of Bazouim, without ruling out the option enforcement of their position by military options. Another global power bloc keenly interested in positioning itself in the running of affairs are raising the platitudes of ‘Territorial sovereignty’. This block is largely supported by Brazil, Russia, India, China, and South Africa ( BRICS ) group and their Transnational Corporations’ fronts.
The ” National Observatory”, a civic engagement platform to interrogate policy options as they affect citizens’ welfare and wellbeing holds audacious views that the global community is either too compromisingly docile or, not adequately sensitise to perceive the grimy portraits of the emerging scenarios in the Niger Republic’s Military Coup d’état versus Democracy crisis rupturing the sub – region, if not entire African continent. Guided by Frantz Fanon admonitions that ; ‘ Every Onlooker is Either a Coward or, A Traitor’…… or both, we critically observe and proffer heuristic panaceas as follows :-
ECOWAS and Nigeria should be extremely cautious in considering options for amicable resolutions so as not inadvertently be drawn into a proxy war situation of Foreign Powers. One of these power mongers in the African continent, a Russian head of a Corporation Mercenary Armed Enforcer, “Wagner Group,” Yevgeny Prigozhin, succinctly captured the essence of the crisis in Niger when he analyzed how Niger’ Uranium is being buccaneer :-
“ French company that extracted uranium sold it on the market for $218, while paying Niger only $11 for it. You can work with investors on a 50-50 or 30-70 (%) basis, but it’s impossible to give back to the indigenous people of the country, who were born in this country, who live in this country, and who expect that the natural resources of this country belong to them, and according to the Constitution, they belong to them, only 5% of the wealth you receive. ”
If the situation in Niger is not properly macro -managed, global economic vultures and vampires will inevitably stop hovering but permanently perch to feast on carcasses in Niger and the sub region. As things are, the region is presently precariously bedevilled by incursions of multiple layers of armed, terrorist groups and battling with economies in acute, compounded recession, it is on the brink of collapse in real terms and cannot risk any social upheavals.
The National Observatory urged the Nigerian Government, ECOWAS to reflect deeply on the permanent interests of their citizens, survival of the African people, the sub region and continent in finding solutions to the threats of anti -democratic, marauding forces in the continent.
Genuine Peoples’ Democracy remains a better path to development over any Military Regime – be it Benevolence or Autocratic. However, democracy must necessarily deliver on good governance and assure prosperity for the citizens if it must be defended.
Global Peace institutions like the United Nations, the African Union should convene a multilateral platform to address the renew surge of undemocratic take over of government in the sub region. In handling the Niger coup debacle, it should be treated as a Bull in a China wares shop!
#. Say NO to foreign powers despoliation of African continent.
#. Join the people’s movement to entrench Democracy, Constitutionalism, Rule of -Law and Good Governance in Africa today.
#. Democratic Governance is for minimal condition for sustainable development of African continent.
#. People’s Democracy is the path to Recovery of our Collective Humanity.
#. There is nothing like ‘’ Benevolence Despotism ’’. It ends up traumatising citizens.
The Centre for Anti-Corruption and Open Leadership, CACOL, has called on anti-corruption agencies for necessary investigation of corrupt practices of job racketeering involving some members of staff and management of Federal Character Commission (FCC).
In a release issued by CACOL and signed by Tola Oresanwo, the anti-corruption organization’s Director, Administration and Programmes on behalf of its Chairman, Mr. Debo Adeniran, he stated, “It would be recalled that while testifying at the ongoing investigative hearing by the House of Representatives ad hoc committee investigating federal Ministries, Departments and Agencies, Parastatals, and Tertiary institutions on mismanagement of the Integrated Payroll and Personnel Information System (IPPIS), one Mr. Haruna Kolo, an ex-aide to the Chairperson of the Federal Character Commission, Muheeba Dankaka, confessed to selling federal employment slots to job seekers at the directives of his former boss”.
Haruna Kolo who was a former Integrated Payroll and Personnel Information System desk officer at the Federal Character Commission, in his testimony, alleged that Ms Dankaka set up a job racketeering ring, collecting money from job seekers. He stated that to avoid digital trails, the FCC boss instructed him to transfer all the money to his (Kolo) personal Ecobank account and pay her in cash which he did a couple of times in her house.
On the allegations of job racketeering, Kolo alleged that the FCC Chairman instructed him to liaise with one Mr Shehu who is a personal driver and Personal Assistant to the Taraba State Commissioner. He also claimed that Shehu is the one that brought those who paid money to his (Kolo) account for job, some paid N1m, others N1.5m, all to his personal Ecobank account which he later gave to the Chairman in cash through POS, so there is no evidence of transfer. Mr Kolo also said the chairperson compensated him, alongside three others, with a job at the Asset Management Company of Nigeria (AMCON) for the assignments he carried out. He also claimed that one of the beneficiaries of the AMCON job is a sibling of Mrs Dankaka.
As much as we agree that the testimony of Mr. kolo is highly revealing, we are not in any way surprised by his allegations and confessions. The reason is because we had stated in one of our past releases that job racketeering is now the other of the day in virtually all the Ministries and Parastatals of government. It is far easier for a camel to pass through the hole of a needle than for a qualified, young and academically sound Nigerian to secure employment in any of these Ministries based on merit or even Federal Character which in some cases has been used to employ job seekers at the federal level. It is now a norm to sell employment slots, promote mediocrity, employ those with god-fathers, and perpetually keep the children of the poor in the unemployment web just because they cannot afford the humongous amount of money being demanded by these racketeering syndicates domiciled in all federal, state and even local government services, thereby impoverishing them and their parents who have invested a lot on their education.
It should be noted that the Federal Character Commission is a creation of the Constitution with the power to ensure that the composition of the government reflects the federal character of the country. The commission serves as a clearing house for employment by all government agencies.
Section 14(3) provides that “The composition of the Government of the Federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria and the need to promote national unity, and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few State or from a few ethnic or other sectional groups in that Government or in any of its agencies.”
Section 4 of the Federal Character Commission (FCC) Act gives the commission the power “to work out an equitable formula, subject to the approval of the President, for the distribution of all cadres of posts in the civil and the public services of the Federation and of the States, the armed forces, the Nigeria Police Force and other security agencies, bodies corporate owned by the Federal or a State Government and Extra-Ministerial Departments and parastatals of the Federation and States.”
“However, over the years, the Federal Character Commission (FCC) has been embroiled in a number of corruption allegations and its primary responsibilities as quoted above has been abused, misused and denigrated contrary to the original intent of those that conceive the idea of its formation in the first place. The noble idea of fostering unity in the area of distribution of all cadres of posts in the civil and the public services of the Federation has now been shamefully and highly commercialized in a way that the highest bidders get the best of positions in these MDAs. This is official Bazzar at the federal level!!!
The anti-graft czar added, “We would have called for total scrapping of the Commission but considering the strategic and critical role of Federal Character Commission (FCC) operations in the country, we are seriously concerned about the enormity of corruption going on in the administration and operations of the Commission, therefore, we would like to commend the House of Representatives for carrying out this investigative hearing, we would also call on the federal government to quickly wade into the Commission’s administration with a view to sanitizing it. We would recommend immediate suspension of the Chair of the Commission and bringing all those responsible for these shameful and despicable acts to book. This is not the time for Anti-graft agencies to slumber; they should rather swing into action and prosecute all those that have been fingered in this revelation so as to serve as a deterrent. More importantly, we hope the allegations will not be swept under the carpet and that the House of Representatives ad hoc Committee should also beam its searchlights on all other MDAs of government.
The Centre for Anti-Corruption and Open Leadership (CACOL) on behalf of the Civil Society Coalition Against Corruption yesterday in Lagos called on President Bola Ahmed Tinubu to graciously give assent to the Bill for an act to amend the Revenue Mobilisation Allocation and Fiscal Commission Act, CAP. R7 LFN 2010 to grant the commission enforcement powers in the monitoring of accruals to and disbursement of revenue from the Federation Account and bring the Act in conformity with the provisions of the 1999 Constitution (as Amended); and for other matters related therewith.
The Coalition which made the appeal in a statement issued to media houses in Lagos, and signed by Comrade Debo Adeniran the Chairman of CACOL, recalled that the 9th Assembly at the twilight of the last administration had graciously and expeditiously passed the Bill that will give the beleaguered Commission a new lease of life which is awaiting President Bola Ahmed Tinubu’s assent.
According to the statement, the Bill as passed by the National Assembly prescribes that the Commission shall be wholly funded by the three tiers of government being beneficiaries of the Federation Account.
The Statement laments that as one of the fourteen (14) Executive Bodies recognized by the Constitution, RMAFC is one of the most poorly funded Agencies compared to other sister Constitutional bodies like Independent National Electoral Commission (INEC), National Population Commission, National Assembly and others that are heavily funded from the national purse.
The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) is one of the Executive bodies established by the 1999 Constitution of the Federal Republic of Nigeria (As Amended). Amongst its fundamental powers and functions are;
To monitor the accruals of federally-generated revenues to the Federation Account and disburse same to the three tiers of government;
Review from time to time, the Revenue Allocation formulae and principles in operation to ensure conformity with changing realities,
Determine remuneration packages appropriate for political, public and judicial office holders as well as
Advise governments at all levels on ways to improve their internally-generated revenues.
They opined that, the important role the Commission plays in the nation’s political economy through statutory allocation of revenue via an equitable revenue sharing formula to the three tiers of government and fixing remuneration for public, political and judicial office holders at all levels of government has enormously contributed to the democratization process, thus encouraging good governance, transparency and accountability and even development in the country.
The Chairman of the Coalition Debo Adeniran noted that “the review process of the above exercises involves extensive and in-depth research and studies in various areas of our political economy, call for memoranda, consultations, sensitization workshops, collection and collation of data, studies of other similar Federations in respect of fiscal arrangements, public hearings and administration of questionnaires which involves huge expenditure”
“These exercises normally take the Commission to all the 36 states of the Federation and the FCT, as well as the 774 Local Council across the country to sensitize Nigerians to make input into the review process”.
“In the area of reducing revenue leakages and enhancing revenue generation, the Commission, has succeeded in expanding the sources of revenue to the Federation Account through the recoveries of hundreds of billions in the recent past”.
“It is gratifying to note that in order to ensure synergy in revenue generation, remittance and monitoring, the Commission also continues to engage critical stakeholders like the Federal Ministry of Industry, Trade and Investment, the Customs Service, Federal Inland Revenue Service, NNPC and its subsidiaries and the Central Bank of Nigeria to strategize on how to reduce revenue loss through indiscriminate granting of waivers and tax holidays”.
The coalition explained in the Statement that one of the major challenges faced by the Commission is the absence of financial autonomy and weak regulatory framework which directly hinders the effective and efficient performance of its operations with annual budgetary allocations for the financing of its activities over the years being grossly inadequate as to protect its independence and cater for its nationwide field operations. The sensitive nature of the Commission’s role in Nigeria’s Fiscal management requires a large measure of independence including financial autonomy.
The Coalition also noted with dismay that, while the Commission continues to discharge its constitutional responsibilities assiduously with little resources, workers and their chief executives in the various revenue generating Agencies it supervises, luxuriate in humungous salaries and allowances driving state-of-the-art cars as official vehicles, working in spacious and well-equipped offices and attending conferences, seminars and retreat abroad all at the tax payers expenses.
“In all honesty, how do you expect RMAFC to effectively monitor those Agencies without being ridiculed given the impoverished working conditions of their staff, how can the Commission attract top rate graduates and experienced hands like those in the MDAs they are supposed to oversight, how can they deploy top-notch ICT infrastructure like those obtained in FIRS, Customs, and NNPCL?”
“It is maladroit to expect a poorly funded organization with ill-motivated staff to perform supervisory functions on well-funded agencies whose staff are adequately remunerated and highly motivated”.
The Statement stressed that in view of the overriding importance of RMAFC’s role in stabilizing the nation’s political and socio-economic development since inception, there is the need to adequately fund the Commission through increased budgetary allocation and placement on first line charge so as to enable it to effectively supervise revenue generating agencies such as FIRS, NNPCL, Customs as well as carry out its other constitutional duties.
“The only viable option that will put the Commission on a strong financial pedestal is if Mr. President appends his golden signature on the new Bill placed on his table”.
The Coalition also expressed optimism that the Bill when eventually signed by Mr. President will reposition the Commission by giving it the needed impetus to perform optimally with the removal of financial, legal and regulatory encumbrances that hitherto made it a toothless bulldog that can only bark but not bite.
“While it is apt to note that PBAT does not waste time in signing Bills into law provided they serve the peoples’ best interest as demonstrated in his first few weeks of assumption of power, it is equally concerning that the RMAFC Bill is still in Mr. President’s incoming tray awaiting his final assent”.
In order to expedite action for the Bill to see the light of the day, it also called on other critical stakeholders like the National Economic Council, the Nigeria Governors’ Forum, ALGON and the Media to bring their influence to bear on the Presidency to do the needful.
“It is our strong belief that the signing of the Bill into law by Mr. President will translate to stoppage of leakages in revenue generation, increase more revenues into the Federation Account and generally promote transparency and accountability in the management of our Commonwealth in consonance with President Bola Ahmed Tinubu’s Renewed Hope mantra. A stitch in time saves nine”.
The Centre for Anti-Corruption and Open Leadership, CACOL, has asked the President of the country to shed more light on his request for N500bn to be used to provide palliatives for Nigerians following the removal of petrol subsidy announced during his inaugural address on May 29, 2023, in response to claims that the subsidy regime favoured the rich more than the average Nigerians, among other reasons.
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In a release issued by the organization’s Director of Administration and Programmes, Tola Oresanwo on behalf of Mr. Debo Adeniran, CACOL’s Chairman, he noted, “It would be recalled that President Tinubu’s request was contained in a letter sent to the National Assembly and read during plenary by the Speaker of the House of Representatives, Tajudeen Abbas. In his letter, the President proposed an amendment to the 2022 Supplementary Appropriation Act, saying “The request has become necessarily important to, among other things, the source for funds necessary to provide palliatives to mitigate the effect of the removal of fuel subsidy on Nigerians. Thus, the sum of N500bn only has been extracted from the 2022 Supplementary Act of N819,536,937,815 for the provision of palliative to cushion the effect of petrol subsidy removal.”
According to the CACOL’s boss, “We believe Nigerians need to know more about the N500bn the President is requesting. He should make the details of how the money would be spent more clearly to the average Nigerian. Inasmuch as we are not against the provision of palliatives for Nigerians who have been negatively affected by the removal of the fuel subsidy, we are calling on the President to reveal the details of how the money will be spent”.
In a country where a humongous amount of money had been expended in the past years majorly on palliatives and the low number of people that benefitted from the said palliatives, it will be unthinkable for this administration to follow the part of the past administrations.
We are all living witnesses to the way and manner some foodstuffs that were meant to serve as palliatives for Nigerians were locked up in warehouses across the country by some greedy and selfish people in power at the detriment of pauperized, traumatized and famished Nigerians during the COVID-19 pandemic.
To avoid the mistakes of the past administrations, the Tinubu-led government should publicize how it intends to spend the money, the names and locations of the beneficiaries, the modalities for disbursing the money and the conditions attached to the disbursement (if any), and other details that would set the minds of Nigerians at peace knowing fully well that the money would be used as planned”.
The CACOL Head adds, “Moreover, we observe that even if the names of those to benefit in the conditional cash transfer or whatever method the government wants to use to disburse the N500bn are published, the money may not impact significantly on the livelihood of the beneficiaries. If any palliative would be given, it should reflect in the cost of macro-economic products like petroleum but since the argument is that if petroleum is cheaper, it will be smuggled out of the country, then the palliative can be used to subsidize electricity, since it is not likely that electricity would be smuggled out of the country. It can also be used to subsidize the cost of building materials or telephony thereby having a direct impact on affordable housing and communication among the people. Reduction in prices of these products will affect everybody rather than selective conditional transfer to some privileged few that has been done in the past and nobody has openly acknowledged that it impacted positively on their lives”.
The Centre for Anti-Corruption and Open Leadership, CACOL, has called on anti-corruption agencies, National Judicial Council and the Presidency to urgently set machineries in motion to investigate Senator Adamu Muhammad Bulkachuwa over his statement that he obtained favours from his wife on behalf of his fellow senators.
In a release issued by CACOL and signed by TolaOresanwo, the anti-corruption organization’s Director of Administration and Programmes, on behalf of its Chairman, Mr. Debo Adeniran, he stated, “It would be recalled that Adamu Muhammad Bulkachuwa, the current senator representing Bauchi North senatorial districtin a video clip which surfaced yesterday, spoke at the valedictory session of the Ninth Senate. Bulkachuwa claimed that he encroached on his wife’s (ZainabBulkachuwa, a retired Justice of the Appeal Court) “freedom and independence” in the course of her official duties as head of the second highest judicial office in Nigeria.
“We watched the video which has gone viral and we were aghast that a serving Senator could condescend so low to the extent of currying unmerited favouron behalf of his colleagues from his wife who was privileged to be in a position of judicial authority. More alarming is the fact that the Senator has the boldness, audacity and temerity to come out in the presence of the press to confess his ‘many sins’ to the Nigerian state. This shows the level of impunity being exhibited by our so called representatives of the people.
Since Senator Adamu Muhammad Bulkachuwa has dramatically blown his own whistle, he has finally confirmed the reason why so many Nigerians have lost faith in the judiciary. Can we say all the cases his wife handled during her days on the bench are dispensed without fear or favour? The Senator’s statements in the viral video shows that corruption in high places is on the increase in the country and drastic measures must be taken to stem the tide. The President should not overlook this serious infraction committed by a person who is supposed to know and protect the laws of the land. It is one anomaly that shows the rot not only in the judiciary but in virtually every arms of government.
The anti-graft czar added, “Considering the strategic and critical role of the legislative and judicial arm of government, we believe people like Senator Adamu Muhammad Bulkachuwa, are not worthy in character and personality to represent any particular group of people in the country. We therefore call on Anti-corruption Agencies, the National Judicial Council and the presidency to swing into action and immediately investigate the claim by the Senator. He and his wife should be quizzed to determine the cases he intervened in and correction or redress should be made in those cases while he along with his wife should be appropriately punished to serve as deterrent to others.
N910BN MDAs SHORT-TERM LOANS: CACOL CALLS FOR URGENT RECOVERY
The Centre for Anti-Corruption and Open Leadership, CACOL, has called on the Accountant-General of the federation to urgently recover short-term loans it advanced federal ministries, departments and agencies from the Special Funds Accounts totaling N910 billion.
In a release issued by CACOL and signed by Tola Oresanwo, the anti-corruption organization’s Director, Administration and Programmes on behalf of its Chairman, Mr. Debo Adeniran, he stated, “We received the news that the Senate Public Accounts Committee (SPAC) chaired by Senator Mathew Urhoghide, which scrutinized the 2017 report of the Auditor General for the Federation discovered the anomaly. According to the Auditor General of the Federation (AuGF), query, loans and debts arising from Special Funds Accounts totaling N910,039,557,742 showed that the balances remained unpaid throughout the year even when they were meant to be short term”.
“It should be noted that the Committee observed that there was a continuous abuse of the Special Funds by the Executive arm of government as the withdrawals were continually made for political expediency outside the purpose which the funds were meant for. The Senate therefore ordered that all outstanding loans should be recovered by the Accountant General of the Federation and evidence of recovery presented to the Auditor General and Senate Public Accounts Committee within 60 days”.
The anti-corruption Czar opined that “It is disheartening and demoralizing how public funds are being mismanaged by the management of most of the MDAs. Inasmuch as we are not against giving out such loans based on the exigencies of the time and paucity of funds that may arise occasionally, the office of the Accountant General ought to have scrutinized the purpose for which these short term loans were sought before giving it out to the MDAs concern. There ought to be concrete arrangements for repayment of the loans and penalties that payment default would attract ought to be made crystal clear for the MDAs concern to know before giving them these loans. In case of default, the loans ought to be deducted from the appropriation to the MDA concerned in the following year’s budget.
“As we have said earlier, we have observed that there have not been serious punishment for impunities like this hence civil servants and public officials who were supposed to hold their position in trust for the members of the public and the generality of Nigerians engaged in financial recklessness knowing fully well that there will not be backlash for their actions. This trend is not peculiar to the MDAs only, as both the 1999 Nigerian Constitution (as amended) and other existing financial laws are either inadequate or contradictory in addressing modern challenges posed by corruption in the country”.
The CACOL Boss further enthused, “We want to commend the Senate Public Accounts Committee for investigating the whereabouts of this huge sum of money and for giving a marching order that all outstanding loans should be recovered by the Accountant General of the Federation and evidence of recovery presented to the Auditor General and Senate Public Accounts Committee within 60 days. We would also want them to go beyond this order and ensure that all MDAs that defaulted in paying back these loans are published, the amount being owed should also be deducted from their next appropriation and their management should be made to face the full wrath of the law in order to serve as deterrent for others.”
CACOL CONGRATULATES PRESIDENT TINUBU, CAUTIONS HIM ON FUEL SUBSIDY REMOVAL
The Centre for Anti-Corruption and Open Leadership, CACOL, has congratulated the incoming President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu who was sworn in as the 16th President of the country. The Anti-Corruption organization however cautioned the President over his recent decision to stop fuel subsidy regime in the country.
In a release issued by CACOL’s Chairman, Mr. Debo Adeniran and signed by the anti-corruption organization’s Director of Administration and Programmes, Tola Oresanwo, he stated, “We do not agree with Mr. President that fuel subsidy can no longer justify its ever-increasing costs in the wake of drying resources rather we want to align ourselves with the school of thought that believes that subsidy should not be removed from fuel, it doesn’t matter who uses fuel. Those buying Luxury items like expensive cars/vehicles should be made to pay more at the point of registering their cars and renewing their vehicle papers based on the cost and the age of the vehicle. These sets of people are the ones using petroleum products more. Same policy should apply to those using expensive or high capacity generators who should be made to also register them with the government. All the luxury goods should attract higher taxes and rates, these will generate the needed income that can serve as alternative to the subsidy the president is trying to remove.“
We at CACOL believe that our people especially the middle class and those occupying the lower rung of the social strata would be forced to face the following consequences of fuel subsidy regime removal:
General increase in the prices of fuel and other related products.
General increase in the cost of transportation.
General devaluation of the commanding power of wages
Lowering of general living standards.
The decision will foist on the people multiple economic discomforts pitiably on the same people who are just coming out of the bad effects of crashing state revenues and variants of poverties of material well-being, the difficulties associated with the recent unavailability of petrol, the hard pains suffered from the lack of cash, resulting from the seemingly deliberate Emefiele driven fiscal policy and failed currency redesign
“We would like to advise that Mr. President should not come in to cause agony and increase the level of misery of the people most of whom are already living below the poverty line and who are also looking up to him to proffer solutions to the myriads of problems facing the country. Moreover, the promise of renewed hope would have been eroded if the President carries out his planned suspension of the fuel subsidy regime removal. Instead of removing the subsidy on micro products like fuel, he should rather extend subsidy to other products like foodstuff, the government should create food banks and produce marketing boards to receive all what farmers especially and other food producers harvested from their farms and buy at profitable rates and sell back to the masses at subsidies rates.
He should also ensure that another way of compensating the poor for the crimes of the rich is to ensure that public education system is completely free from the nursery level to first degree level and other levels of education (from Masters’ to Ph.D level) should be generally available to those who can afford it.
We are particularly disappointed that Mr. President carried out his threat to remove fuel subsidy without adequate consultations with the various stakeholders and without considering the implications of the decision on the small scale enterprises and majority of our people who have been impoverished by the misgovernance imposed upon them by successive governments in the past.
The CACOL Boss added, “We would like to use this medium to call on the President to declare his assets, because he has come to equity and he should be seen to have come with clean hands. We want to know his assets and liabilities, and he should make it open to the generality of Nigerians. We are making this demand because we want him to run an open and participatory government and a government that is not shrouded in secrecy. He should also appoint people of competence and impeccable character so that there would be ‘right pegs in right holes’ so that at the end of the day, those of us who have reposed some level of confidence in him would know the indices and indicators we can use to appraise his government, whether to praise it or condemn it.”
“That we seem to be supporting his ascendancy doesn’t mean that when things are commendable we will not commend it and when they are condemnable we will actually condemn whatever misstep we identified. We would also want him to make the implementation of his campaign promises to be SMART so that we may know the parameters to access his performance in office. ”
The Centre for Anti-Corruption and Open Leadership, CACOL, has enjoined Nigerians to remain calm in the midst of current challenges facing the nation even as the nation prepares for the forthcoming elections.
In a release issued by CACOL and signed by Tola Oresanwo, the anti-corruption organization’s Director, Administration and Programmes on behalf of its Chairman, Mr. Debo Adeniran, stated that, “It would be recalled that the we have few days left before the presidential and parliamentary elections in Nigeria, It will be the largest democratic exercise on the continent as Africa’s most populous nation picks a new president. The election, as important as it is, would take place even as the country battles myriad economic and security problems that range from fuel and cash shortages to rising terror attacks, high inflation, and a plummeting local currency.”
Inasmuch as we would like to commend the Independent National Electoral Commission (INEC) for its efforts to ensure a credible election through the adoption of innovative technologies such as the Bimodal Voter Accreditation System (BVAS) we cannot but express concern about existing predicaments like logistical difficulties of fuel and cash scarcity that could impact the integrity of the elections.
We all know that Fuel shortages and scarcity of the newly redesigned local currency have stirred violent protests in parts of Nigeria as millions of people struggle to get their hands on new versions of banknotes. The rising security concerns and frequent attacks on INEC facilities in the country is a challenge to the safety of voters and the integrity of the forthcoming election which is poised to become a seminal moment in the country’s political history.
We at CACOL would like to use this medium to call on all stakeholders with one thing or the other to do with the upcoming elections to put in their best so that we can have free, fair, and transparent elections. We would also like to call on the citizens to remain calm and allow the government to fix the myriads of problems bedeviling the country.
The CACOL Boss added, “To the contestants to various elective positions, we want them to know that they can only represent the people in an atmosphere of peace and tranquility, we need peaceful elections to give democracy a boost in the country, hence the need for all the candidates, the party chairmen and members of all political parties, to respect the voice of Nigerians and embraced the politics of peace.”
BUHARI’S SPEECH: A PRECURSOR TO AUTOCRATIC GOVERNANCE
The Centre for Anti-Corruption and Open Leadership, CACOL has bemoaned President Muhammadu Buhari’s speech in which he regarded the N500 and N1,000 notes has ceased to be a legal tender in the country.
In a release issued by its Director, Administration and Programmes, Tola Oresanwo on behalf of the organization’s Chairman, Mr. Debo Adeniran, he stated, “In the last couple of weeks, Nigerians have been facing the reality of scarcity of cash. Our banks are overwhelmed by angry customers demanding money, the ATMs are flooded with furious Nigerians struggling to withdraw cash, and some spend the whole day hoping to get a few Naira notes to pay bills. POS operators complain of lack of money; a few have charged between 15% and 20% to customers to get some cash”.
But to make matters worse, President Buhari in his recent speech to the nation illegalizes the N500 and N1,000 notes despite the Supreme court ruling extending the period the notes can be in circulation.
The CACOL head noted that “The Supreme Court can make pronouncement even on the President or whatever policy that emanates from the executive and because the Central Bank of Nigeria (CBN) is part of the executive, any pronouncement from the Apex court relating to the monetary policy of the land in particular and the CBN in general must be obeyed to the latter. The presidency is fast turning itself to the Judiciary. Since the pronouncement has ordinarily extended the period with which the old naira notes could be used, the president doesn’t have to review it pending the ruling of the Supreme Court. What the president has done is tantamount to contempt of court which is a kind of impunity and it is a precursor to rule of the thumb instead of rule of law”
Moreover, the principle of separation of powers clearly defines the limit of each arm of government. Taking the President’s speech into context, it shows president Buhari is gravitating towards dictatorship. The President ought to know by now that he cannot and he is not in a position to nullify the decision of the Supreme Court. If the executive is not pleased with the decision of the Court, the Attorney General of the Federation has the opportunity of going back to the Supreme Court to ask for a review of the earlier decision not that by Presidential fiat he would kind of set it aside without going back to the court.
Furthermore, the Attorney General who is supposed to be the Chief Legal Adviser in this administration doesn’t seem to deserve his license to operate as a legal practitioner anymore as he has become an embarrassment to the legal profession which he claims to represent. His credentials should be recalled and he should be sanctioned by the Body of Benchers.
The nonchalant attitude of the government which was displayed by the carefree speech delivered by the president has heightened the initial protests to full-blown riots in different parts of the country as we speak and the country is sliding rapidly into a state of anarchy. State governors are now giving counter directives to citizens of their states on what to do with the old notes and if different states are carrying out different policies as diverse and distinct from that at the centre then we can say that a state of anomie is imminent.
We at CACOL will like to use this medium to implore all stakeholders to respect the rule of law and the principle of separation of powers while urging the citizens to remain calm in the midst of the present uncertainties and allow the government to find a lasting solution to the present impasse.
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