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Presidency Knocks Lawmaker Over Missing N89tn Stamp Duty Claim

Published

1 year ago

December 13, 2022

Editor

Following the controversies trailing a claim of a missing sum of N89.09 trillion allegedly lost from siphoned stamp duty charges, the Presidency on Tuesday said such is false.

It also said the entire banking sector deposit in Nigeria does not amount to half of N89tn.

“It is now evident that the consultants and petitioners’ claim of a missing N89tn from stamp duty appears false and a figment of their malicious imaginations. The same set of consultants claimed in 2016 there was N20tn to be collected. It was found to be false. The entire banking sector deposit is not even up to half of N89 trillion.

“Indeed, if the Federal Government can find N89tn Naira, it can pay off all its debt, both foreign and local currency and all state government debts and still have over N10tn left,” a statement signed on Tuesday evening by the President’s spokesman, Garba Shehu, read.

The statement is titled, “Stamp duty: facts Nigerians need to have.”

In an interview with BBC Hausa last Friday, the lawmaker representing the Kazaure, Roni, Gwiwa, Yankwashi Constituency of Jigawa State at the lower chambers alleged that the Presidential Committee on the Reconciliation and Recovery of All Stamp Duties has accused some government agencies of sabotaging the committee’s efforts.

According to Kazaure, who said he serves as the committee’s secretary, it was discovered that N89.09tn has so far been realised from deductions by banks but these funds have not made it to the FG’s coffers.

He alleged connivance by some critical operatives of the regime, including the Central Bank of Nigeria, the Office of the Secretary to the Government of the Federation and the Protocol Department of the State House, preventing him from briefing President Muhammadu Buhari on the findings.

But reacting to the claims on Tuesday, the Presidency said while there was a committee empowered by the President to look recover a sum of N20tn allegedly lost to the Nigerian Inter-bank Settlement System, the President rescinded his approval upon realising the actual plan of said committee.

It explained that this “anomaly” arose because certain characters apparently formed a cartel with collaborators in the Nigerian Postal Service and were allegedly collecting and pocketing tokens on banking transactions.

Soon after, a non-government organisation posited to the regime that the Nigerian government had lost the sum of over N20tn to the Nigerian Inter-bank Settlement System between 2013-2016 in this regard, claiming that the said sum could be recovered and paid back into the government coffers.

“The consultants asked to be paid a professional fee of 7.5 per cent and were placed under the supervision of the Secretary to the Government of the Federation.

“Following the lack of progress in the promised recovery, the late Chief of Staff to the President, Abba Kyari wrote on March 8, 2018, to the SGF conveying a presidential directive that following the lack of progress and several expressed concerns received, the activities of the consultants be discontinued.

“In the aftermath of this dismissal, the consultants sued the government. A court of competent jurisdiction subsequently ruled in favour of the government,” the Presidency noted in the statement.

It said arising from the outcome of the litigation and the controversy on the legally responsible agent for collecting this levy, the regime caused an amendment to the law and removed NIPOST from the duty of its collection.

Having lost a potentially “lucrative” line of “business”, Shehu claimed that the sacked characters returned to the drawing board to formulate one form of trick or another to intimidate the government but the vigilant teams of the administration kept them at bay.

“Lately, they returned to the government through Hon. Muhammadu Kazaure with a plan to track the so-called lost stamp duties with the erstwhile consultant as chairman and Gudaji as secretary.

“When it emerged that the petitioner and lead consultant of the committee the President had dissolved via the late Abba Kyari’s letter of March 28 had masqueraded himself and re-emerged as the chairman of the new recovery committee championed by Gudaji, the President rescinded the approval he gave and asked that it be stopped from operating under the seal of his office,” Shehu further explained.

Buhari’s decision, he said, was premised on concerns relating to natural justice and fair hearing in having the Chief Justice of the Federation as a committee member and a serving member of the House of Representatives as Secretary, which are not in line with Section 5(1),(a)&(b) of the 1999 constitution of the Federal Republic of Nigeria (as amended).

The Presidency proceeded to answer questions raised by Kazaure in the BBC Hausa interview.

On the CBN’s Investors and Exporters window, which Kazaure claimed stood at $171 billion dollars as of 2020, it said “Contrary to Kazaure’s assertion, the I&E window is NOT an ‘account’ where foreign exchange is deposited. It is simply a platform for trading foreign exchange.

“As of April 2020, the total amount of foreign exchange traded (either bought or sold) in the window was about $171bn. The amount does not mean that we have $171bn stacked away in some vault or saved in any account.”

On accusations of the CBN loaning N23.4tn to some banks, Shehu said “the total balance sheet of the CBN is not anywhere near N23tn. So how can it give such an amount in loans to any or some banks?”

Responding to claims about a N13trillion loan to the federal government from the Financial Markets Derivative Quotes he said according to the Debt Management Office, the total amount of Nigeria’s domestic debt as of September 2022 is N21.6tn.

“Is Kazaure suggesting that a small company in Lagos holds over 60 per cent of Nigeria’s domestic debt? Of the N21.6tn domestic debt, only N4.5tn are in Treasury Bills. How then can a company in Lagos hold more treasury bills (N13tn) than the entire treasury bills issued by the Federal Government?” Shehu queried.

According to him, the President has not ignored these matters and a duly authorised committee under the Attorney-General and Minister of Justice, Abubakar Malami is “working to reconcile, recover and transfer all Stamp Duties into Stamp Duties Central Account. The work is ongoing, it is not finished yet and the President will continue to show his keen interest in the matter of Stamp Duty collection.”
PUNCH

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Kudos As Nigeria Gains Additional Territory ‘Five Times The Size Of Lagos’

Published

1 day ago

May 15, 2024

Editor

President Bola Tinubu has commended the High Powered Presidential Committee, HPPC, on Nigeria’s extended continental shelf project, a team of experts who worked hard over the years to advance the project.

The president gave the commendation when he received the report of the protect yesterday in Abuja.

According to Vanguard, the project aims to extend Nigeria’s maritime boundaries in accordance with the United Nations Convention on the Law of the Sea (UNCLOS), 1982.

The president expressed his appreciation in Abuja after listening to technical presentations by Professor Larry Awosika, a marine scientist and member of the committee, and Surveyor Aliyu Omar, Secretary of HPPC.

The experts have been involved in the project since Nigeria’s initial submission to extend its continental shelf to the United Nations Commission on the Limits of the Continental Shelf (CLCS) in 2009.

They informed the President that the UN has approved Nigeria’s submission, granting sovereignty over additional square kilometres of maritime territory.

A statement issued by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, quoted the President as saying: ‘’When the HPPC briefed former President Muhammadu Buhari in 2022 on the status of the project, the United Nations Commission on the Limits of the Continental Shelf, CLCS, was still considering Nigeria’s submission and having technical interactions with the HPPC.

‘’These interactions and consideration have now culminated in the approval for Nigeria to extend its continental shelf beyond 200M (200 nautical miles).

‘’As it stands now, the area approved for Nigeria is about 16,300 square kilometres, which is about five times the size of Lagos State,” Surveyor Omar told the president.’’

He added that the official notification of the decision was conveyed to Nigeria by the UN Nations Commission on the limits of the Continental Shelf, CLCS, in August 2023, shortly after President Tinubu assumed office.

Omar outlined the available options for Nigeria following the approval: “The first option is to take the area gained and finalize the registration with the UN Secretary-General and close everything, meaning that we are satisfied with what we got. This will take at least one year.

“The second option is to take what we have right now, acquire more data, do a support write-up, and make a revised submission as recommended by CLCS for further consideration. This will take another four years. Either way (options), Nigeria will keep what has been approved.”

In his presentation, Professor Awosika explained that the approval came after years of meticulous scientific research on geophysics, geology, geography, and diplomatic efforts, which solidified Nigeria’s legal rights over a vast expanse of seabed and subsoil beyond its traditional territorial waters.

Awosika highlighted the economic potential of the newly acquired territory, which includes hydrocarbons, gas, solid minerals, and a wide variety of sedentary species.

He, however, cautioned against total disclosure of sensitive data acquired during surveys, noting that this will jeopardize confidentiality as Nigeria is expected to monetize the information to recover project expenses.

Responding, the president thanked the experts for their diligence, emphasizing the significance of the achievement for Nigeria’s economic and strategic interests.
VANGUARD

Headline

Police Give Tips On How To Report Erring Officers

Published

1 day ago

May 15, 2024

Editor

The Police have urged Nigerians to take the advantage of its Complaint Response Unit, at the Force Headquarters, to report misconduct of its officers and men.

The Head of the unit, CSP El-Musta Sani, made the appeal at a Summit organised in Abuja by the Public Complaints Commission (PCC) in collaboration with the Foundation for Youth Empowerment and Social Justice.

Sanni said that the unit was created in 2015 to handle complaints against police officers from members of the public.

He said, so far, from the first quarter of 2024, the unit had received 459 complaints from members of the public against officers and men, through its social media platforms.

He further explained that 265 of the cases had been resolved while 195 were still being handled by the police.

According to him, “It takes the Unit 21 days to receive and conclude investigations on all complaints”.

He said it was worrisome that members of the public did not know about the platforms to channel their complaints.

“The major problem is that the institutions are there, but Nigerians do not know their functions.

“We receive complaints through WhatsApp, Twitter handles, phone calls, and walk-in petitions.

“And the Unit is directly responsible to the Office of the Inspector General of Police through the Public Relation Officer,” he said.

Sanni assured more sensitisation to enlighten the public to take advantage of the opportunity to lodge their complaint for proper handling.

In his remarks, the Chief Commissioner of PCC, Mr Abimbola Ayo-Yusuf emphasised the need to strengthen institutions to combat administrative injustice and corruption.

He noted that, properly developed institution is key to good governance, adding that the summit aimed to improve service delivery and ensure that the right to complain and raise issues was available to everyone.

“The purpose of this Summit, which is to foster collaboration between the Public Complaints Commission and other organisations, is quite timely and key to the understanding of the mandate of the Commission.

“The PCC, known as the Nigerian version of the Ombudsman, was established to investigate complaints regarding administrative actions,” he said.

Ms. Sandra Benson, the Director Administration, Foundation for Youth Empowerment and Social Justice, said that the Foundation and PCC were working hard to ensure justice for those who had faced injustices over the years.

Banson emphasised the need for collective action to address the issues, stating that now was the time to match voices with action for good governance.

She highlighted the importance of addressing citizens’ complaints about administrative actions and called for immediate responses, sensitisation of workers on grievance channels, and cooperation for swift justice.

“The Summit marks the beginning of important engagements with stakeholders and the PCC, aiming to restore trust in the system and liberate workers from bad leadership.”

Also speaking, Maurice Okoye, the Chief Executive Officer (CEO) Jewel Social Empowerment Initiative, said that the critical need for consequence management in addressing issues in Nigeria was necessary.

Okoye cited the absence of consequence management as a major challenge, leading to lack of accountability among government agency heads.

He also mentioned the reluctance of many to seek justice due to a lack of confidence in the system.

He cited an example where one of his friends chose not to pursue justice after a robbery due to high costs and skepticism about the outcome.

Okoye called for a restoration of public confidence in the justice system and emphasised the need for accountability and responsibility among leaders.

NAN

Headline

Google To Offer AI-generated Answers In Search Results

Published

2 days ago

May 14, 2024

Editor

Google has announced it would introduce AI-generated answers to online queries made by users in the United States, in one of the biggest updates to its search engine in 25 years.

“I’m excited to announce that we will begin launching this fully revamped experience, ‘AI overviews,’ to everyone in the US this week,” Google chief executive Sundar Pichai said at an event in California on Tuesday, May 14.

Google’s search results will feature an AI summary at the top of the page before the more typical unfurling of links.

The AI answers generated by Google’s Gemini technology will offer succinct summaries of what it found on the internet with links to the online sources that supplied the information.

“You can ask whatever’s on your mind or whatever you need to get done – from researching to planning to brainstorming – and Google will take care of the legwork,” said Google Search team boss Liz Reid.

The change comes as Google feels growing pressure from AI-powered search engines like Perplexity, and from the rumors that OpenAI, the creator of ChatGPT, is building its own AI search tool.

Searches through AI chats have also appeared on Facebook, Instagram and WhatsApp, with users able to get information from the web without Google.

The change will soon spread to other countries, Pichai added, making it accessible to more than a billion people.