Nation
ICPC Sheds Light On Recovered Funds
The Independent Corrupt Practices and other related offences Commission (ICPC) does not spend recovered funds, but pays them into Federal Government’s coffers, its Chairman, Prof Bolaji Owasanoye, has said.
Owasanoye told the Senate Committee on Finance investigating activities of revenue generating agencies of the Federal Government that ICPC had no retention powers over funds or assets recovered from corrupt people.
ICPC spokesperson, Mrs Azuka Ogugua, said in a statement issued in Abuja yesterday that Owasanoye told the committee that ICPC had a dedicated account for the recovery of proceeds of crime.
“All recovered funds are paid into the dedicated account called “ICPC Recovery Account’’ for onward payment into the Consolidated Revenue Fund (CRF) of the Federal Government once there were no encumbrances.
“ICPC is not contemplated as a revenue generating agency. In the course of our work, we do recover funds. However, ICPC does not spend recovered assets. We do not use part of it for our work,’’ he stressed.
He also told the committee that apart from recovering proceeds of crime, ICPC had also helped to boost tax revenue by bringing defaulters to book.
He said ICPC had been able to bring defaulters into the tax net while investigating tax components of some transactions and that recovered funds were paid to the Federal Inland Revenue Service.
Committee Chairman, Sen. Solomon Adeola, had earlier expressed concern that the country’s budget was becoming too dependent on loans, partly due to non-compliance to financial regulations by revenue generating agencies of government.
He said the investigative hearing aimed to ensure that all revenue generating agencies complied with the Fiscal Responsibility Act which stipulated that 80 per cent of operational surplus be paid into the CRF.
“Revenue generating agencies of government have taken solace and pleasure in diverting government’s money; taking care of frivolous expenditure and making provisions for them in audited accounts that are fictitious in nature.
“The 2021 budget has a deficit of N6 trillion; government cannot continue this way,’’ Solomon said.
Nation
World Health Day: Rivers Govt Urges Regular Medical Check-Ups, Healthy Living
Nation
Rumuji Youth Leader Condemns Protest, Disowns Alleged Government Empowerment Claim
Nation
Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
Tonye Orabere
-
Editorial1 day agoDomesticate FG’s Exit Benefit Scheme
-
News1 day agoDHQ Confirms Deaths Of Terrorists, Soldiers In Borno Attack
-
News1 day agoRSU Unveils Five-Year Strategic Dev Plan …Calls For Collective Commitment To Institutional Excellence
-
News1 day agoTinubu Commissions Bayelsa Gas Turbine, Other Projects Today
-
Rivers1 day ago
Dep Gov Seeks Collaboration, Transparency Between RIVCHPP, PHCMB
-
Nation1 day ago
Rumuji Youth Leader Condemns Protest, Disowns Alleged Government Empowerment Claim
-
Featured1 day agoFG Reaffirms Nigeria’s Stability As US Embassy Suspends Visa Appointments In Abuja Office
-
Business1 day ago
Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs
