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FG Bars MDAs From Dollar-Denominated Contracts

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The Federal Government has directed all Ministries, Departments, and Agencies (MDAs) to desist from entering into contracts denominated in foreign currency, as part of new fiscal control measures outlined in the 2025 Appropriation Act Implementation Guideline.

According to the document, all MDAs are to ensure that their contracts are wholly denominated in Naira.

It states that no MDA is authorised to enter into any contract denominated in a foreign currency without the prior approval of the Minister of Finance and Coordinating Minister of the Economy.

“MDAs are to ensure that their contracts are wholly denominated in Nigerian Naira,” the guideline stated.

It also stated that “No MDA is authorised to enter a contract denominated in any foreign currency without the prior approval of the Honourable Minister of Finance and the Coordinating Minister of the Economy.”

The guideline, issued by the Budget Office of the Federation, also imposes new reporting obligations on MDAs.

It mandates the submission of monthly Budget Performance Reports to the Budget Office using a prescribed format not later than the 15th day of the following month.

The document warned that MDAs that fail to submit the reports will not be considered for subsequent capital or recurrent budget releases until they comply.

This measure, it noted, is aimed at ensuring that budget releases are tied to actual progress on project implementation.

The government also introduced new rules on the management of personnel costs.

The Budget Office said it would pursue greater efficiency by reducing the number of MDAs locked out of the Integrated Personnel and Payroll Information System.

It added that monthly and quarterly reviews of nominal rolls would be conducted to eliminate unjustified payroll entries and allowances.

The guideline also directed the MDAs to refrain from initiating payment for promotion or salary arrears on the IPPIS platform.

Instead, such requests must be forwarded to the Committee on Payment of Promotions and Salary Arrears, in line with a circular issued by the Ministry of Budget and Economic Planning on December 17, 2020.

Also, all MDAs will be required to submit monthly reconciliations of non-regular allowances received as part of personnel emoluments, indicating utilisation and any surplus funds.

The Auditor-General of the Federation is expected to monitor compliance as part of the audit programme.

Furthermore, no MDA is allowed to take any action that could result in increased personnel costs within the year—such as new recruitment, payment of unapproved allowances or replacement of exiting staff—without proper authorisation.

The new directive said sanctions would be applied to any chief executive or accounting officer who violates this directive.

The document also introduced a new recruitment policy to ensure compliance with the statutory ratio between academic and non-academic staff and the enforcement of the five per cent job provision for persons living with disabilities.

All future applications for establishment or financial clearance are expected to disclose the status of compliance with this policy.

On tax matters, the government warned that MDAs have no authority to grant tax exemptions to contracting parties.

“All exemptions must follow due process and be formally approved through the appropriate legal and fiscal channels,” it said.

The guideline further cautioned MDAs that frequently incur tax expenditures—whether through exemptions, waivers, or failure to enforce statutory obligations—to stay within the annual tax expenditure cap provided in the 2025 Appropriation Act.

In terms of support from development partners, the guideline stipulates that all requests must be routed through the International Cooperation Department in the Ministry of Budget and Economic Planning.

“Any support received in cash or kind must be documented and reported monthly to both the ICD and the Office of the Accountant-General of the Federation,” it said, adding that the directive formed part of the Federal Government’s efforts to enforce discipline in budget execution and ensure alignment with fiscal targets set out in the 2025 budget.

In May, President Bola Tinubu approved the Renewed?Hope?Nigeria?First policy, which mandated all federal ministries, departments, and agencies to give absolute priority to Nigerian goods, services, and know-how when spending public funds.

The Minister of Information and National Orientation, Mohammed Idris, said the directive “puts Nigeria at the centre of every kobo the government spends,” adding that an Executive Order to give it full legal force was also underway.

According to him, the policy mirrors US President Donald Trump’s “America First” doctrine.

“Going forward, any business to be done by the government must place Nigerians first. If a local option exists, there is no reason whatsoever to import.

“Council has endorsed the President’s proposals, and the Attorney General has been directed to draft the Executive Order that will ‘make government invest in our people and our industries by changing how we spend, procure and build the economy,” he explained.

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Independence Anniversary:  Nigeria Is A Failed Grandfather – Monarch 

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A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.

The monarch  stated this in an interview at his palace in Ikuru Town, yesterday.

According to him, Nigeria would have been a  developed country to set the pace in the whole of Africa, considering its numerous resources.

“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.

“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.

“If we’re able to harness all the things we have, even America by now would have respected us”, he  said.

While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.

King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so  far.

He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.

 

“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.

“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.

The monarch used the opportunity to wish Nigeria happy independence anniversary.

By: Enoch Epelle 

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FG begins payment of N32,000 pension increment to retirees – PTAD

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The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.

In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.

Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.

The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.

The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.

In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.

The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.

“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.

“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”

The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.

It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.

The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.

“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.

The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.

Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.

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Nigeria At 65: NOA urges citizens to foster unity, progress

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The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the  nation  as it celebrates 65th independence anniversary.

Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom,  gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.

Mkpoutom said it was essential to recognise that the strength of Nigeria lay  in its diversity

“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.

“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.

“As Akwa Ibom embarks on another year,  it is crucial for all citizens to foster a sense of unity and shared purpose.

“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving  way for a brighter future for all.”

The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.

“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.

He urged everyone to contribute positively to the development of a better society.

Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.

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