News
FG Uncovers N450bn Surplus …After 33 Agencies’ Audit
The Federal Government is set to recover about N450 billion operating surpluses that were not returned by 33 agencies from 2010 to 2015.
The Minister of Finance, Mrs Kemi Adeosun, made the announcement, yesterday, in Abuja at a news conference.
She said that an audit had been carried out on the agencies in compliance with the Fiscal Responsibility Act (FRA), 2007.
The minister that a recovery committee headed by the Accountant General of the Federation had been set up to recover the money from the agencies.
Adeosun noted, however, that some of the agencies had started returning various sums, saying that N640 million had been received from the Nigeria Shippers Council.
“The total independent revenue generated between January and October, 2016 was N272.03 billion but there is a projected increase to N811.03 billion as we recover amounts owed.’’
She said that the audit revealed that there was a lot of non-remittances and under-remittances of operating surpluses and that some agencies were operating without an approved budget.
The minister added that there was overstating of budget and spending above budgeted amount, failure to reconcile accounts and existence of irreconcilable differences.
“The audit also showed that there was under-reporting of revenues, failure to submit audited financial statements, payroll fraud and exaggeration of payroll costs, over-payment of staff salaries and abuse of personnel grants.’’
She said that while there was unapproved monetisation of medical and other allowances, there was also non-compliance with the PPA and failure to convert to IPSAS accounting.
IPSAS stands for International Public Sector Accounting Standards (IPSAS).
According to her, some of the agencies affected are the Nigerian Communications Commission, Nigerian Ports Authority and Corporate Affairs Commission.
Others are the Nigerian Maritime Administration and Safety Agency, Nigerian Export-Import Bank, Federal Airports Authority of Nigeria and National Open University of Nigeria.
Also affected are the Nigerian Railway Corporation, West African Examination Council, Joint Administrations and Matriculation Board and the National Hospital, Abuja, among others.
Adeosun said that some of the audit reports had been sent to the Economic and Financial Crimes Commission (EFCC).
“The financial regulations are very clear, where audit reports have indicted some of the officers, some of these audit reports are going to the EFCC.
“Some of the audit findings were so serious that the decision was taken that some of those particular reports must go to the EFCC.
“Remember that we are not a prosecuting agency, ours is to investigate and then we hand it over to the relevant agencies.’’
The minister said that the agencies that defaulted had been asked to come up with their repayment proposals to see how they could be made to repay the money.
“We know that in some cases that money would have already been spent so they will now give us a proposal of how they are going to repay but the money has to be paid.
“We are also looking at their Treasury Single Account (TSA) to understand how much money they actually have because in some cases these surpluses are in their accounts.
“Our plan is not to grind to a halt the activities of any agency but to institute fiscal discipline in all the agencies,’’ the minister stated.
Adeosun also said that a circular was issued on November 22, requesting submission of estimates of revenues and expenses for the next three financial years.
Other documents that were requested are the annual budget which must be IPSAS compliant and projected operating surpluses for review and approval.
According to her, a review team has also been set up to evaluate submitted estimates before budget submission to the National Assembly.
She said that failure to comply with the provision of the FRA to review and approve their budgets as advised would be restricted to payment of salaries only until the budget was regularised.
“We have the National Assembly’s support that if an agency does not have its budget approved; it really has no business spending.
“It is wrong for an agency to operate without a budget. It is public money and that means that the agency can do literally anything it wants and that is wrong.
“It is for those agencies who know that they do not want to be in the situation where they can only pay salaries to do the right thing, everybody knows the rule.’’
She said further that a circular on the inclusion of 92 additional corporations, agencies and government owned companies to the schedule of the Act had also been issued.
According to the minister, the exercise is an ongoing process and all agencies will eventually be audited.
News
CAN President Tasks Christians On Unity
Against the backdrop of rising economic challenges and global uncertainties, the President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, has called for calm, unity, and responsible leadership as Christians across the country mark Palm Sunday, yesterday.
In a statement released yesterday, Okoh reflected on the significance of Palm Sunday, saying that it is a moment that symbolises peace, humility, and hope, even in times of tension and uncertainty.
He further explained that Jesus entered Jerusalem with calm resolve, not as a display of force, but with a message of peace and purpose.
The CAN President noted, “The message of the Christian observance is particularly relevant as many Nigerians grapple with economic hardship, including rising cost of living, increasing fuel prices, and escalating food costs.”
He attributed part of the economic pressure to global developments, especially geopolitical tensions involving Iran, Israel, and the United States that are already impacting energy markets and, by extension, everyday life in Nigeria.
He stressed that across the country, families are feeling the weight of these times, with transport costs rising, food prices climbing, and daily life becoming more difficult.
He stated that Nigerians are primarily concerned with survival and stability, appealing to leaders at all levels to be mindful of the tone and impact of their words and actions.
According to him, when life feels uncertain, people need reassurance, they need stability and the confidence that those in authority understand their struggles. He stressed that the lessons of Palm Sunday should guide leadership, as true leadership is defined not by force or rhetoric, but by empathy, restraint, and a commitment to the common good.
He stressed that it is a time for decisions that ease burdens, calm anxieties, and bring people together, and called on the Church and Nigerians of all faiths to embrace their responsibility in promoting peace and unity.
He said Palm Sunday serves as a reminder of a time when people from diverse backgrounds came together in shared hope and purpose, pointing out that the same spirit is needed now to stand for peace, strengthen unity, and support one another, especially in a season that could easily tilt towards tension.
Okoh encouraged young Nigerians and those most affected by the current economic realities not to lose hope, acknowledging that while the challenges are real, they are not insurmountable.
News
Acting Provost Dismisses Alleged Missing Equipment Claims At Rivers Health College
The Acting Provost of the Rivers State College of Health Science and Management Technology, Dr. (Mrs.) Peace Chigozirim Amadi has refuted claims circulating in the media suggesting that laboratory equipment went missing from the college.
In a recent statement, Dr. Amadi described the reports—particularly those attributed to certain publications—as false and misleading. She emphasized that all laboratory equipment at the college remain intact.
“I am here to set the record straight. No laboratory equipment disappeared from my college. Nothing is missing,” Dr. Amadi said, challenging anyone with contrary claims to provide evidence, including the names of the equipment and their supposed locations.
She further noted that the college recently underwent an accreditation exercise, during which significant investments were made in laboratory equipment. According to Dr. Amadi, these items are fully accounted for, and the college maintains a robust security system to protect its assets.
“Everything is intact. Nothing disappeared. The information being circulated is false and should be discarded,” she reiterated.
Beyond addressing the allegations, Dr. Amadi also called on media practitioners to exercise professionalism and verify stories before publication. “I want to plead with journalists to always verify their stories. Junk journalism does not help anyone. No matter the information you receive, it is important to hear the other side before publishing,” she said.
While social media posts have occasionally raised concerns about various issues in the region’s health education sector, including extortion and examination malpractice at related institutions, there is no independent evidence from credible news sources confirming that equipment went missing from Rivers State College of Health Science and Management Technology.
The college, a public tertiary institution based in Port Harcourt, Rivers State, is accredited to offer a variety of health-related programs, including Nursing, Midwifery, Laboratory Technology, and Environmental Health. It has consistently emphasised integrity, safety, and transparency in its operations.
Dr. Amadi’s statement seeks to reassure the public, students, and stakeholders that the college remains secure, well-managed, and free from the alleged equipment losses, while urging journalists to prioritise accuracy in reporting.
News
Hausa Leader Lauds Fubara For Sustaining Peace, Security In Rivers
The Chairman of the Arewa Traditional Council of Chiefs in Rivers State, Alhaji Hussaini Isa Madaki, has commended Governor Siminalayi Fubara of Rivers State for his efforts in sustaining peace and security of lives and property across the state.
Madaki, who is also the Sarkin Hausawa in Rivers State, described the governor as a leader who has embraced the Hausa community as part of the larger family in the state.
Speaking with journalists at his office in Port Harcourt during the 2026 Eid al-Fitr celebration, Madaki noted that Governor Fubara has demonstrated fairness and inclusiveness by not segregating any ethnic group, particularly the Hausa community.
He added that the governor’s peaceful disposition has positioned Rivers State as one of the most accommodating and peaceful states in the country.
Madaki further assured that the Hausa community would continue to give maximum support to the Fubara-led administration until the end of its tenure.
He also urged members of the community to remain peaceful and law-abiding as they go about their lawful activities.
On community development, Madaki disclosed that district and ward heads have been appointed and crowned across Hausa settlements in the State to ensure proper coordination and profiling of residents. According to him, the initiative is aimed at strengthening security, enhancing identification, and improving crisis management at the grassroots level.
He explained that the move became necessary due to recurring security concerns, including disturbances allegedly caused by some scavengers and cart pushers.
Madaki called on the newly appointed leaders to promote inclusiveness, harmony, and peaceful coexistence in the discharge of their responsibilities.
Those appointed include Alhaji Abubakar as Port Harcourt City District Head; Alhaji Buba Usman (Eleme axis); Malam Adamu (Eagle Island); Alhaji Tanlasuki (Gborokiri Yam Zone); Abdullahi (Rumukwurushi); Adamu Suleiman (Aboloma); and Useni Umaru (D-Line).
He appealed to Governor Fubara to formally recognise the efforts of the Hausa leadership structure in the State and extend further support in the spirit of inclusivity and unity.
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