Adeosun Has Taken The Path Of Honour – APC

FG Disburses N668.898b For May Despite FAAC Deadlock
Minister of Finance, Kemi Adeosun (file)

 

The All Progressives Congress (APC) has described the decision of Mrs Kemi Adeosun to resign her position as the Minister of Finance, as an act of honour, strength of character and integrity.

In a statement on Sunday by its National Publicity Secretary, Mr Yekini Nabena, the APC also described the President’s acceptance of the development as honourable.

Her resignation followed a report published by online media organisation Premium Times, alleging that she had forged her NYSC exemption certificate.

She submitted the resignation letter on Friday, almost three years after she was appointed to the role by President Muhammadu Buhari.


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The APC congratulated her and wished her well in future endeavours.


“Like all responsive and responsible governments concerned about the truth and due process, the federal government undertook diligent investigation of the allegation.

“Now that the report of the investigation is out, the right thing has been done. The honourable minister has taken the path of honour and resigned. We congratulate Mrs Adeosun for her action,” Nabena wrote.

Speaking further, the APC praised the Federal Government for upholding the law while taking a swipe a the Peoples Democratic Party (PDP) for what it described as irresponsible governance in the past.

It said, “In President Muhammadu Buhari’s administration of integrity and transparency in the conduct of public affairs, no officer of government with a modicum of questionable conduct or integrity should stay in office.

“In past PDP-led administrations, the country was held down by corrupt and irresponsible public officers who refused to honour invitations of the National Assembly; closed down national airports against perceived political adversaries; bought luxurious bullet-proof vehicles with public funds at inflated prices; locked out National Assembly members, forcing federal lawmakers to climb high barricades in order to assess the legislative chamber.

“It was these acts of corruption, impunity, irresponsibility and executive rascality that made Nigerians vote in the President Buhari administration in 2015, with its Change mantra to put a stop to such undemocratic practices.

“We wish Mrs Adeosun every success in her future endeavours and join President Buhari in appreciating her immense contributions to the stability of the Nigerian economy in the past three and half years”.

FG Disburses N668.898b For May Despite FAAC Deadlock

FG Disburses N668.898b For May Despite FAAC Deadlock
Minister of Finance, Kemi Adeosun (file)

 

The Federal Government has disbursed N668.898 billion to the three tiers of government for the month of May, despite the impasse in the Federation Accounts Allocation Committee (FAAC).

Director of Information at the Federal Ministry of Finance, Hassan Dodo, revealed this in a statement on Friday in Abuja.

He explained that the sharing of revenues for May, which was meant to be distributed in June, was put on hold because of the disagreement on remittances by the revenue generating agencies, especially the Nigerian National Petroleum Corporation (NNPC).

Dodo added that the money was distributed due to the urgent need to cushion the undue hardships being experienced by workers nationwide.

He, however, said the government was intensifying efforts to address the unsatisfactory remittances.

According to the director, the N668.898 billion is made up of the statutory distributable sum of N575.475 billion and N93.423 billion from the Value Added Tax (VAT).

He said, “The total revenue realised for the month, was shared in line with the extant formula as follows: Federal Government – N282.223 billion; State Governments – N181.167 billion; and Local Government Councils – N136.490 billion.

“The Oil Producing States received N53.071 billion as 13 per cent derivation. The sum of N15.947 billion was paid to the revenue generating agencies as costs of collections.”

Dodo revealed that the statutory revenue of N575.475 billion received for the month of May was lower than the N613.057 billion received for April by a total of N37.582 billion.

He noted that from the total statutory revenue of N575.475 billion, the Federal Government was given N268.770 billion, the states – N136.324 billion, Local Government Areas – N105.100 billion, the oil-producing states – N53.071 billion, while the revenue generating agencies received N12.210 billion as costs of collections.

“For the month of May 2018, the total revenue of N93.423 billion from the Value Added Tax (VAT) was N5.458 billion higher than the N87.965 billion distributed in April 2018.

“From the total of N93.423 billion, the Federal Government received N13.453 billion; the states received N44.843 billion; the Local Government Councils received N31.390 billion, while N3.737 billion was received by the revenue collecting agencies,” the director said.

The monthly FAAC meeting held in June had ended in a stalemate as a result of the disagreement on remittances by the revenue generating agencies.

The controversy continued as the Nigeria Governors’ Forum (NGF) faulted the remittances from the NNPC, saying they were inaccurate.

Briefing reporters after the governors met on Wednesday in Abuja, NGF Chairman and Zamfara State Governor, Abdul’Aziz Yari, queried the amount the NNPC claimed to have used for the payment of petroleum subsidies.

He said the governors resolved that until the agency corrects the discrepancies in the amount remitted to the Federation Account, the states would not share the money.

Claims Adeosun, Bakare Met With Buhari ‘Far From The Truth’ – Presidency

 

The Presidency has denied the report that President Muhammadu Buhari met with the Minister of Finance, Mrs Kemi Adeosun, and Pastor Tunde Bakare of Latter Rain Assembly together.

Special Adviser to the President on Media and Publicity, Mr Femi Adesina, faulted the report in a statement on Friday in Abuja.

“Stories with insinuations are making the rounds that Pastor Tunde Bakare of Latter Rain Assembly and Minister of Finance, Mrs Kemi Adeosun, met together with President Muhammadu Buhari at State House, Abuja, Friday. Far from the truth,” Mr Adesina said.

He explained that contrary to the report, the minister was at the Presidential Villa in connection with the Annual General Meeting and 25th Anniversary Celebration of the African Export-Import Bank (AFREXIMBANK).

The presidential aide said the event is scheduled to hold on Saturday in the Federal Capital Territory and would be graced by President Buhari.

He, however, revealed that Adeosun ran into Pastor Bakare who was on a scheduled visit to see the President, and they exchanged pleasantries.

“The cleric particularly thanked the minister for finding time to attend his mother’s funeral, which took place in Abeokuta, Ogun State, penultimate weekend,” Adesina added.

“This statement is to put events in proper perspective and dispel all conjectures and fictive reporting.”

The President’s spokesman disclosed further that Adeosun had seen President Buhari not fewer than three times earlier in the week.

He insisted that there was no need for the minister to meet with the President today and Adeosun and Bakare never met with President Buhari together.

The embattled minister was caught up in a controversy recently over a recent report which claimed that she failed to participate in the compulsory National Youth Service Corps (NYSC).

Adeosun's Alleged Exemption Certificate Not From NYSC, Says Ex-Director
Minister of Finance, Kemi Adeosun (file)

 

The report also alleged Adeosun did not only fail to take part in the one-year scheme but also supposedly obtained a fake exemption certificate.

Reacting to the report in a statement on Monday, the NYSC, through its spokesperson Adeyemi Adenike confirmed that the minister did apply for an exemption certificate.

It further vowed to launch an investigation into the origin of the purported exemption certificate in question.

Two days later, a former NYSC Director of Mobilisation, Mr Anthony Ani, said the agency could not have made a mistake to issue the purported certificate in question.

“If those documents were the documents claimed to have been submitted, I want to emphatically say that no! they wouldn’t have emanated from the NYSC,” Ani had said in an interview on Channels Television’s Sunrise Daily on Wednesday.

Adeosun’s Alleged Exemption Certificate Not From NYSC, Says Ex-Director

 

A former Director of Mobilisation at the National Youth Service Corps (NYSC), Mr Anthony Ani, has distanced the scheme from the certificate of exemption allegedly issued to the Minister of Finance, Mrs Kemi Adeosun.

Speaking on the matter in a telephone interview on Channels Television’s Sunrise Daily, Ani argued that the NYSC could not have issued the purported certificate in question.

READ ALSO: NYSC Reacts To Adeosun’s Certificate Controversy

“First and foremost, I have to comment based on the documents that I saw,” he said on Wednesday. “If those documents were the documents claimed to have been submitted, I want to emphatically say that no! they wouldn’t have emanated from the NYSC.”

The former director stressed that the NYSC Act had clearly highlighted the process of mobilisation for graduates in the scheme.

He said section 2 of the law embedded under section 315 of the Nigerian Constitution categorically stated that graduates of higher institutions who have not attained the age of 30 must make themselves available for mobilisation.

Adeosun's Alleged Exemption Certificate Not From NYSC, Says Ex-Director
Minister of Finance, Kemi Adeosun (file)

 

Ani maintained that it was not for graduates of local and international institutions make excuse but the responsibility of the NYSC to determine those that would be exempted from the scheme.

He said, “According to the law, all those who graduated with effect from 1974, who studied abroad or in Nigeria and you are not above 30 years, at the point of graduation, you are supposed to make yourself available for mobilisation and you will be deployed. If you are above 30, you will be exempted.”

“The other categories of graduates that will be exempted are those who have served in the Nigerian Police or the military for not less than nine months… even if you graduate at the age of 20 and you are in the U.S. and you have not made yourself available to be mobilised, whenever you come back even if you are 60 years, you have to undergo the NYSC,” the former NYSC director insisted.

The national youth service is a compulsory scheme for all Nigerian graduates who have not attained the age of 30.

A report which went viral recently had claimed that Mrs Adeosun failed to participate in the service and supposedly obtained a fake exemption certificate.

But the NYSC had confirmed in a statement on Monday that the minister applied for an exemption certificate.

“Checking our records, Mrs Adeosun did apply for an Exemption Certificate. We shall investigate the origin of the purported exemption certificate in question,” the NYSC said in the statement by its Director of Press and Public Relations, Adeyemi Adenike.

Also reacting to the controversy, the Minister of Information, Lai Mohammed, noted that “NYSC is part of the government and I have nothing to add to what the NYSC has said.”

‘Govt Has Spoken’, Lai Mohammed Reacts To Adeosun’s Certificate Controversy

Be Fair In Reporting Govt Activities, Lai Mohammed Tells Media
File photo: Mr Lai Mohammed

 

 

The Minister of Information, Lai Mohammed, has reacted to the alleged certificate forgery involving the Minister of Finance, Mrs. Kemi, Adeosun.

He said that “The government has spoken.

“NYSC is part of the government and I have nothing to add to what the NYSC has said.”

The Information Minister disclosed this in an interview with journalists after the weekly Federal Executive Council meeting which was held in Abuja.

Finance Minister who attended the FEC meeting was accused in a recent report which went viral, claiming she had failed to participate in the mandatory National Youth Service and supposedly obtained a fake exemption certificate.

The one-year service is a compulsory scheme for all Nigerian graduates who have not attained the age of 30.

 

Reps To Investigate NNPC’s Financial Records

The House of Representatives has resolved to investigate the financial records and actual production capacity of the Nigerian National Petroleum Corporation (NNPC) from January 2018 to date.

This investigation is aimed at ascertaining the volume of sales of crude oil of the NNPC.

The House also resolved to investigate the yearly production output to determine the impropriety or otherwise of the claim of 2 million barrels of crude oil per day by the corporation.

The motion for investigation was moved by Representative Ossai Nicholas (Delta PDP) citing NNPC’s current under-remittances to Federation Account.

He pointed out that this was the reason why the Federation Accounts Allocation Committee (FAAC) meeting for the month of June, did not hold.

There is an “urgent need” to investigate the “under-remittances” of the Nigerian National Petroleum Corporation (NNPC), Ossai said.

READ ALSO: FAAC Meeting Ends In Deadlock

Ossai while moving the motion, during plenary on Tuesday, added that the N100 billion ($277 million, €236 million) shortfall is not connected to the oil price, which has been high in recent months and is “likely as a result of some individuals not doing what they are supposed to.”

“The people who have worked have not received their salaries,” Ossai said, adding that the NNPC has “always given one reason or the other that are not cogent”.

The motion from the House of Representatives comes after Finance Minister Kemi Adeosun said on June 28 that remittances from the NNPC were “unacceptable”.

Adeosun said that oil proceeds have become an issue and that the government was investigating the NNPC’s claims that the funds were lower than expected because of the deduction of fuel subsidies.

NYSC Reacts To Adeosun’s Certificate Controversy

NYSC Reacts To Adeosun's Certificate Controversy
Minister of Finance, Mrs Kemi Adeosun (file)

 

The National Youth Service Corps (NYSC) has waded into the controversy of a forged certificate of exemption allegedly used by the Minister of Finance, Mrs Kemi Adeosun.

In a statement on Monday by its Director of Press and Public Relations, Mrs Adeyemi Adenike, NYSC confirmed that the minister applied for an exemption certificate.

It also vowed to investigate the source of the purported forged certificate.

The statement read, “Our attention has been drawn to the issue of the alleged forgery of an NYSC Exemption Certificate by the Honorable Minister of Finance, Mrs Kemi Adeosun.

“Checking our records, Mrs Adeosun did apply for an Exemption Certificate.

“We shall investigate the origin of the purported Exemption Certificate in question.”

A recent report which went viral had claimed that Mrs Adeosun failed to participate in the mandatory national youth service and supposedly obtained a fake exemption certificate.

The one-year service is a compulsory scheme for all Nigerian graduates who have not attained the age of 30.

However, the minister has yet to respond to the allegations.

Mrs Adeosun had served as the Commissioner of Finance in Ogun State between 2011 and 2015, during the first term of Governor Ibikunle Amosun.

She later joined President Muhammadu Buhari’s cabinet as the Minister of Finance later in 2015.

PDP Demands Adeosun’s Immediate Sack, Arraignment

Finance Minister
Minister of Finance, Kemi Adeosun.

The Peoples Democratic Party (PDP) has called on President Muhammadu Buhari to immediately sack, arrest and arraign the Minister of Finance, Kemi Adeosun over the alleged use of fake NYSC certificate.

The Party in a statement signed on Sunday by its National Publicity Secretary, Kola Ologbondiyan, said President Buhari should not provide a cover for Adeosun over this issue. They also called for investigations into the operations of the finance minister.

“The recent revelation has cast a full-length dark shadow on the overall integrity of his administration.

“We challenge President Buhari to be bold to allow an open independent inquest into the exact figures amounting to the trillions of naira oil revenue earned by the nation in the last three years and how he had spent same with Mrs Adeosun as Minister of Finance.

“Mr President should also allow an open inquest into his handling, with Mrs Adeosun, of all our depleted foreign financial instruments, including the Excess Crude Account (ECA), from which funds were taken without recourse to the National Assembly,” the statement read in part.

READ ALSO: Celebration In Ilorin As Supreme Court Frees Saraki Of False Asset Declaration Charges

The PDP also charged President Buhari to allow an inquest into his administration’s borrowing of over N10 trillion in 30 months, with Adeosun as Minister of Finance and the purposes for which the money was used.

“Furthermore, we challenge President Buhari to allow an inquest into the leaked memo at the Nigeria National Petroleum Corporation (NNPC) showing N9 trillion corrupt oil contracts as well as the alleged stealing of N1.1 trillion worth of crude oil, all in a sector under his direct purview as Minister of Petroleum.”

The PDP also called for an open investigation into the N18 billion Internally Displaced Persons (IDP) intervention fund and the N10 billion National Health Insurance Scheme (NHIS) alleged to have been stolen from the Treasury Single Account (TSA).

The PDP challenges President Buhari to prove himself as a man of integrity by allowing an open system-wide and independent inquest into all alleged corrupt practices.

PHOTOS: Adeosun, Ogbeh, Others At Today’s FEC Meeting

FEC Approves Tax Information Exchange Between Nigeria, Others
President Muhammadu Buhari, Vice President Yemi Osinbajo, and the SGF, Boss Mustapha, at the FEC meeting in Abuja on July 4, 2018.

 

President Muhammadu Buhari on Wednesday presided over the Federal Executive Council (FEC) meeting.

The meeting, which commenced at about 11:00 am, held at the Council Chamber of the Presidential Villa in Abuja, the nation’s capital.


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In attendance are the Vice President, Professor Yemi Osinbajo, and the Secretary to the Government of the Federation (SGF), Boss Mustapha.

Ministers in attendance include Abubakar Malami (Justice and Attorney-General of the Federation), Kemi Adeosun (Finance), Audu Ogbeh (Agriculture and Rural Development),

Others are Babatunde Fashola (Power, Works, and Housing), Udo Udoma (Budget and National Planning), and Chris Ngige (Labour and Employment), among others.

See photos below:

Commitment To Infrastructure Devt Is A Key Feature Of This Administration – Adeosun

 

The Minister of Finance, Mrs Kemi Adeosun, has reiterated the Federal Government’s commitment to infrastructure development in the country, stating that it is a key feature of the Muhammadu Buhari administration.

Adeosun said this on Thursday during a panel discussion at the 2018 edition of the Annual IPI Conference in Abuja.

She also stated that since it took over power in 2015, the administration had promised to focus on infrastructure as it recognized the fact that “the only way we can really grow, develop and improve the cost of living or standard of living of our people, is to have an effective infrastructure”.

“Indeed, no country has been able to develop without infrastructure and its almost amazing that we’ve been able to get as far as we’ve gotten without essential infrastructure, without roads, without power, without rail, without housing, without all the enablements that an economy needs to grow,” she stated.

Read Also: LIVE: Buhari, Top Govt Officials Attend IPI World Congress In Abuja

According to her, it is for that reason that the government continues to make efforts to improve the nation’s infrastructure.

Speaking further, the finance minister also noted that in the 2018 Budget which was passed on Wednesday, a total of 1.6 trillion was allocated to infrastructure – a development which she described as a rare feat in Nigeria’s economic history.

“So one of the things that this government said from the beginning is, we are going to focus very strongly on infrastructure.

“In the budget that just closed, we released close to 1.6 trillion on infrastructure and that’s never been done in this country so our commitment to spending on infrastructure is part of our Economic Recovery and Growth Plan and its imbedded in the budget that was just signed yesterday”.

Adeosun also stated that following the huge allocation, in a short while, Nigerians will begin to clearly see the efforts of the government in terms of projects delivery.

“There’s a huge allocation for infrastructure and I think that in the next few month, you’ll begin to see projects completed because some of these are multiyear projects.

“You will see projects being completed and commissioned and people will see that this government has taken the project from beginning to end and finish things which is very important and we are committed to that,” she said.

Other panelists included the Minister of Trade, Industry and Investment, Okechukwu Enelemah; the Minister of Interior, Abdulrahman Dambazzau, the Minister of Information and Culture, Lai Mohammed and the Chairman Channels Media Group, Mr John Momoh (OON), who moderated the panel discussion.

The President, Mr Muhammadu Buhari, was also present, among other distinguished guests.

LIVE: Buhari, Top Govt Officials Attend IPI World Congress In Abuja

Live: IPI Annual Conference Holds In Abuja

 

The 2018 World Congress of the International Press Institute (IPI), which has the theme ‘Why Good Journalism Matter’ commenced today in Abuja, the Nigerian capital.

This year, the IPI World Congress aims to affirm the indispensable role of quality media in building strong societies, as well as showcasing investigative stories and projects that bring positive change to individuals and communities in Africa and around the world.

A session entitled ‘Conversation With The Government Of Nigeria’ and moderated by the Chairman/Chief Executive Officer of Channels Media Group, Mr John Momoh (OON), is currently ongoing.

President Muhammadu Buhari, who visited Bauchi State earlier on Thursday, is attending the event.

Meanwhile, top government officials including the Minister of Finance, Kemi Adeosun; Minister of Information and Culture, Lai Mohammed; Minister of Trade, Industry and Investment, Okechukwu Enelemah; and Minister of Interior, Abdulrahman Dambazzau, are all on the panel discussing key issues in the country.

This year’s edition of the congress will end on Saturday, June 23, 2018.

The IPI is a Vienna-based global network of editors, media executives and leading journalists.

It is dedicated to furthering and safeguarding press freedom, protecting freedom of opinion and expression, promoting the free flow of news and information, and improving the practices of journalism.

Watch below:

FG To Close 2017 Budget With N1.5trn Excess Capital Spending

FG To Close 2017 Budget With N1.5trn Excess Capital Spending – Adeosun
File photo: Mrs Kemi Adeosun

 

The Minister of Finance, Mrs Kemi Adeosun, says the Federal Government will be closing the 2017 budget with a capital spending in excess of N1.5 trillion.

Mrs Adeosun. who revealed this development on Sunday in a series of tweets on her Twitter handle, said the figure is higher than what the government achieved in the 2016 budget.

According to her, the Federal Government is looking forward to the passage of the 2018 budget by National Assembly.

The minister disclosed further that more than five million new taxpayers have been added to the nation’s tax base in the last two years.

She commended the Federal Inland Revenue Service (FIRS) for going after tax defaulters, stressing the need for the nation to diversify its revenue base.

Adeosun also thanked the tax authorities at the state level for doing what she described as “a great deal of work” on expanding the tax base and enforcement of tax payment.

She was delighted that the debt management strategy of President Muhammadu Buhari’s administration, which focuses on bringing down borrowing costs, is working.

The minister said that while the government was borrowing at an average cost of about 18 per cent in 2017, the cost has now reduced to 13 per cent this year.

She noted that the government would not relent in its resolve to continue to work very hard on the debt service cost.