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PDP Accuses Buhari, APC Of $1.68bn Excess Crude Fraud …Raises Alarm On Presidency’s Plot To Siphon 1.2bn Farmers’ Fund

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The Peoples Democratic Party (PDP) yesterday observed that “the revelation of furtive depletion and syphoning of $1.68 billion” from the Excess Crude Account (ECA), further shows that President Muhammadu Buhari presides over a corrupt government that is bent on draining our treasury and foisting more suffering on our people.
The main opposition party in a statement issued by Kola Ologbondiyan, its National Publicity Secretary, accused President Buhari of superintending over the surreptitious withdrawals from the ECA, without recourse to the statutory appropriation of the National Assembly, “because funds are being frittered from the account to private purses of the cabal at his Presidency and corrupt All Progressives Congress (APC) leaders.”
The party described the excuses being peddled by the Buhari administration on the depletion as hazy, muddle-up and cannot find basis under the due process of statutory legislative approvals.
The PDP wondered why Mr President is presiding over such impunity if he is not drawing personal benefits from the obvious racket “for which our ECA has been turned into APC’s Automated Teller Machine (ATM).”
The statement added: “Apparently realizing that they have been rejected by Nigerians ahead of the 2019 general elections, the APC and the Buhari Presidency now want to drain our treasury and as usual, blame it on past administration.
“Nigerians can recall that the PDP, which established the ECA as a buffer account to cushion the effect of any economic downturn, left $2.07 billion in the account only for the Buhari administration to drain it down to $631 million.”
The PDP condemned “this manifest impunity by the Buhari Presidency and demands that no more withdrawals must be made from the account by this corrupt and inept administration.”
The party urged Nigerians to unite in condemnation of the depletion of the ECA by the Buhari administration, “which has less than five months to leave the governance of our country for good.”
Meanwhile, Peoples Democratic Party, PDP, has accused President Muhammadu Buhari and All Progressives Congress, APC, of plotting to fleece Nigerians through the extortion of N1.2 billion from poor beneficiaries of Central Bank of Nigeria, CBN’s Anchor Borrowers’ Programme, to fund the President 2019 re-election bid.
The party has, therefore, challenged the Buhari Presidency to clear the air on the alleged fleecing of Nigerians to the tune of N2.6 trillion through hidden illegal N48 tax per litre of petrol, which motorists in the country have been bearing since the fuel price increased from subsidised cost of N87 to presumably unsubsidised cost of N145.
In a statement, yesterday, by National Publicity Secretary, Kola Ologbondiyan, PDP urged Nigerians to take their President to task on why they should re-elect him in 2019.
The party said: “Information at our disposal also reveals that the Anchor Borrower’s scandal is yet another scheme by the Presidency to siphon public funds and surreptitiously route same to Mr. President’s campaign.
“To achieve this ignoble scheme, the Presidency and the APC shamefully constituted a phony Anchor Borrowers Farmers’ Association, which they claimed has 12 million members, and through which they plan to siphon and launder money from public coffers to fund President Buhari’s campaign.”

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Fubara Dissolves Rivers Executive Council

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Rivers State Governor, Sir Siminialayi Fubara, has dissolved the State Executive Council.

The governor announced the cabinet dissolution yesterday in a statement titled ‘Government Special Announcement’, signed by his new Chief Press Secretary, Onwuka Nzeshi.

Governor Fubara directed all Commissioners and Special Advisers to hand over to the Permanent Secretaries or the most Senior officers in their Ministries with immediate effect.

He thanked the outgoing members of the State Executive Council for their service and wished them the best in their future endeavours.

The three-paragraph special announcement read, “His Excellency, Sir Siminalayi Fubara, GSSRS, Governor of Rivers State, has dissolved the State Executive Council.

“His Excellency, the Governor, has therefore directed all Commissioners and Special Advisers to hand over to the Permanent Secretaries or  the most Senior officers in their Ministries with immediate effect.

“His Excellency further expresses his deepest appreciation to the outgoing members of the Executive Council wishing them the best in their future endeavours.”

 

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INEC Proposes N873.78bn For 2027 Elections, N171bn For 2026 Operations

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The Independent National Electoral Commission (INEC) yesterday told the National Assembly that it requires N873.78bn to conduct the 2027 general elections, even as it seeks N171bn to fund its operations in the 2026 fiscal year.

INEC Chairman, Prof Joash Amupitan, made the disclosure while presenting the commission’s 2026 budget proposal and the projected cost for the 2027 general elections before the National Assembly Joint Committee on Electoral Matters in Abuja.

According to Amupitan, the N873.78bn election budget covers the full conduct of national polls in 2027.

An additional N171bn is needed to support INEC’s routine activities in 2026, including bye-elections and off-season elections, the commission stated.

The INEC boss said the proposed election budget does not include a fresh request from the National Youth Service Corps seeking increased allowances for corps members engaged as ad-hoc staff during elections.

He explained that, although the details of specific line items were not exhaustively presented, the almost N1tn election budget is structured across five major components.

“N379.75bn is for operational costs, N92.32bn for administrative costs, N209.21bn for technological costs, N154.91bn for election capital costs and N42.61bn for miscellaneous expenses,” Amupitan said.

The INEC chief noted that the budget was prepared “in line with Section 3(3) of the Electoral Act 2022, which mandates the Commission to prepare its election budget at least one year before the general election.”

On the 2026 fiscal year, Amupitan disclosed that the Ministry of Finance provided an envelope of N140bn, stressing, however, that “INEC is proposing a total expenditure of N171bn.”

The breakdown includes N109bn for personnel costs, N18.7bn for overheads, N42.63bn for election-related activities and N1.4bn for capital expenditure.

He argued that the envelope budgeting system is not suitable for the Commission’s operations, noting that INEC’s activities often require urgent and flexible funding.

Amupitan also identified the lack of a dedicated communications network as a major operational challenge, adding that if the commission develops its own network infrastructure, Nigerians would be in a better position to hold it accountable for any technical glitches.

Speaking at the session, Senator Adams Oshiomhole (APC, Edo North) said external agencies should not dictate the budgeting framework for INEC, given the unique and sensitive nature of its mandate.

He advocated that the envelope budgeting model should be set aside.

He urged the National Assembly to work with INEC’s financial proposal to avoid future instances of possible underfunding.

In the same vein, a member of the House of Representatives from Edo State, Billy Osawaru, called for INEC’s budget to be placed on first-line charge as provided in the Constitution, with funds released in full and on time to enable the Commission to plan early enough for the 2027 general election.

The Joint Committee approved a motion recommending the one-time release of the Commission’s annual budget.

The committee also said it would consider the NYSC’s request for about N32bn to increase allowances for corps members to N125,000 each when engaged for election duties.

The Chairman of the Senate Committee on INEC, Senator Simon Along, assured that the National Assembly would work closely with the Commission to ensure it receives the necessary support for the successful conduct of the 2027 general elections.

Similarly, the Chairman of the House Committee on Electoral Matters, Bayo Balogun, also pledged legislative support, warning INEC to be careful about promises it might be unable to keep.

He recalled that during the 2023 general election, INEC made strong assurances about uploading results to the INEC Result Viewing portal, creating the impression that results could be monitored in real time.

“iREV was not even in the Electoral Act; it was only in INEC regulations. So, be careful how you make promises,” Balogun warned.

The N873.78bn proposed by INEC for next year’s general election is a significant increase from the N313.4bn released to the Commission by the Federal Government for the conduct of the 2023 general election.

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Tinubu Mourns Literary Icon, Biodun Jeyifo

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President Bola Tinubu yesterday expressed grief over the death of a former President of the Academic Staff Union of Universities and one of Africa’s foremost literary scholars, Professor Emeritus Biodun Jeyifo.

Jeyifo passed away on Wednesday, drawing tributes from across Nigeria and the global academic community.

In a condolence message to the family, friends, and associates of the late scholar, Tinubu in a statement by his spokesperson, Bayo Onanuga,  described Jeyifo as a towering intellectual whose contributions to African literature, postcolonial studies, and cultural theory left an enduring legacy.

He noted that the late professor would be sorely missed for his incisive criticism and masterful interpretations of the works of Nobel laureate, Professor Wole Soyinka.

The President also recalled Jeyifo’s leadership of ASUU, praising the temperance, foresight, and wisdom he brought to the union over the years.

Tinubu said Jeyifo played a key role in shaping negotiation frameworks with the government aimed at improving working conditions for university staff and enhancing the learning environment in Nigerian universities.

According to the President, Professor Jeyifo’s longstanding advocacy for academic freedom and social justice will continue to inspire generations.

He added that the late scholar’s influence extended beyond academia into political and cultural journalism, where he served as a mentor to numerous scholars, writers, and activists.

Tinubu condoled with ASUU, the Nigerian Academy of Letters, the Wole Soyinka Centre for Investigative Journalism, the University of Ibadan, Obafemi Awolowo University, Oberlin University, Cornell University, and Harvard University—institutions where Jeyifo studied, taught, or made significant scholarly contributions.

“Nigeria and the global academic community have lost a towering figure and outstanding global citizen,” the President said.

“Professor Biodun Jeyifo was an intellectual giant who dedicated his entire life to knowledge production and the promotion of human dignity. I share a strong personal relationship with him. His contributions to literary and cultural advancement and to society at large will be missed.”

Jeyifo was widely regarded as one of Africa’s most influential literary critics and public intellectuals. Among several honours, he received the prestigious W.E.B. Du Bois Medal in 2019.

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