The House of Representatives has given the Armed forces and other security agencies one month to settle their electricity bills with the Power Holding Company of Nigeria or risk being disconnected.
This is one of the resolutions reached after a debate on the urgent need to address the failure of some corporate customers of the company to pay their electricity bill, which is estimated at billions of naira.
The issue of funding has been identified as a major hindrance to the power sector reform and this situation is not being helped as billions of naira are said to be owed the PHCN by customers.
A motion staged before the House of Representatives, incident of how the PHCN was being owed 41 billion naira was revealed to the members of the House.
Honourable Patrick Ihkhariale revealed that the Armed Forces comprising the Navy Air force, Nigerian Police, departments and agencies are owing the PHCN billions of naira on regular basis despite budgetary appropriations that these public institutions get to run their annual activities.
It however attracted debate within the lawmakers as some feel it is not in the business of the House of Representatives to drag itself into the issue of debt recovery for some government agencies while some felt the defaulting agencies be handed over to the EFCC or be dealt with accordingly.
Hon. Leo Ogor; argued that the law should empower the anti-corruption agency; the EFCC to go after MDA that has failed to remit what it was charged by the PHCN to it while Hon. Kamil Akinlabi from PDP Oyo state said the House is not supposed to reduce itself to the level of acting as a debt recovery agent.
The house however resolved that a joint committee be mandated to investigate how the funds allocated for electricity in the budget were utilized.
Business Morning presenter Esther Ugbodaga was joined by Abel Ezekiel; a Capital Market Analyst and the Chief Executive Officer of Investment Derivatives Company to discuss the issues that caused the crash of the capital market and solutions to resurrect the capital market as the probe marked its second day in progress after a long break yesterday.
Looking into the probe on the capital market which resumed yesterday after a few weeks break,financial analyst Eghes Eyieyien was in to discuss with Esther Ugbodaga on the resumption of the probe and the happenings before the close of the first batch of the capital market probe.
Business Morning today looked into the issues starring the government in the face and apossible solution to resolving these factors militating against the capital market.
Mr Olubunmi Ajayi a former president of Association of Professional Bodies of Nigeria was also invited to lets us know his own perception concerning the rate of corruption and the fight being staged against corruption and of late the several public hearings/probes called for by the House of Reps. i.e. Fuel subsidy probe, Police pension probe and the NSE/SEC probe to mention a few.
Is the agency responsible for curbing corruption functioning properly?
Whose responsibility is it to monitor and probe any suspected misappropriation of government funds?
Mr Ajayi stated that is not the responsibility of the House of Representative to call for a probe on erring sectors of government rather it is an oversight function which was left unattended to by the executive arm of government and that has to be checked.
The Independent National Electoral Commission (INEC) has announced former governor of Kebbi state, Saidu Dakingari as the winner in the governorship re-run election held on Saturday.
According to the Chief Returning Officer for the election, Professor Lawal Bilbis, Mr. Dakingari of the People’s Democratic Party (PDP) polled 875,492 votes to defeat Mr. Abubakar Abubakar of the Congress or Progressive Change (CPC) who polled 17,918 votes.
Olatokunbo Fagbemi the spokesperson for Maevis was invited to feature on our breakfast show Sunrise Daily once again.
In continuance of the concessioning issue between Maevis and the FAAN, the latter insisted that the contract in question must be reviewed and reacting to this Olatokunbo Fagbemi said that her company does not have issues with the contract review but it should be done legally because there are clauses guiding the review of the concessioning contract which was signed into agreement with the FAAN.