News
Reps Give SEC, FRC Ultimatum On N45bn Unremitted Funds
The Public Accounts Committee of the House of Representatives, on Tuesday, issued a 21-day ultimatum to the Securities and Exchange Commission and the Fiscal Responsibility Commission to explain the whereabouts of the N45 billion unremitted operating surplus recorded from 2007 to 2021.
The committee Chairman, Bamidele Salam (PDP, Osun State), issued the ultimatum in Abuja, during the committee’s public hearing on leakages of revenue accruals to the Federal Government.
The FRC dragged the SEC before the committee for not responding to its report issued in 2022, where N45bn computed liability of unremitted funds was recorded against the exchange commission.
READ ALSO: Hoodlums Burn Down Residence Of Ex-Benue Gov
“We have written the SEC on December 20, 2022, intimating the commission of our computed liability for the period 2007 to 2021 and the said liability amounted to N45,01bn only.
“Up till now, we have not received any response from them. So, as far as we are concerned, they have accepted the liability and that is what we have recorded against the commission,” a representative of FRC, Mr. Bello Aliyu, told the committee.
Aliyu noted that since 2022, the SEC had not come up with any explanation concerning the unremitted sum.
He argued that by the law, the balance of any operating surplus should be paid into the consolidated revenue fund of the FG within less than one month of the statutory deadline for publishing any corporation account.
READ ALSO: Govt Resolves Delta Communities Boundary Dispute
The Director-General, SEC, Lamido Yahaya, however, said that the commission had reconciled its operating surplus with the Office of the Accountant-General of the Federation.
He said, “I think if the FRC had done a little more work, they would have seen from the OAGF all the efforts that we have made to reconcile the surplus figure from 2007 when FRC came into being.”
In his remark, Salam noted that by law, the FRC is empowered to ensure that all government agencies and corporations listed in its enabling Act behave responsibly with regards to remittances and management of their revenues.
“I don’t know why SEC is more comfortable with the Accountant-Genera’s office and I don’t want to insinuate anything, but I want to assure the FRC that from now on, all that will stop.
”We are going to ensure that all agencies make the FRC the major body of government that should ensure compliance with the provision of the Act,” he said.
News
Edo NLC Crisis: Caretaker Committee Drags Rival Exco, Govt To Court
The division in the Edo State Council of the Nigeria Labour Congress (NLC), took a new dimension on Wednesday as Prof. Monday Monday Lewis Igbafen-led caretaker committee approached the National Industrial Court of Nigeria, Benin Judicial Division, seeking to affirm its authority and restrain a rival executive from parading itself as the council’s leadership.
Joined in the suit are the Edo State Government, the Commissioner for Labour and Productivity, and the Attorney-General and Commissioner for Justice.
In a suit marked: NICN/BEN/12/2026, and filed before the court in Benin, the claimant, Igbafen, acting for himself and on behalf of the NLC Caretaker Committee in Edo State, is challenging the continued occupation of the union’s secretariat and control of its assets by members of the Bernard Egwakhide-led factional State Executive Council.
READ ALSO:Edo NLC Divided Over May Day Celebration
The claimants are asking the court to declare that the caretaker committee (Igbafen-led faction), constituted on August 11, 2025, by the NLC national leadership, remains the only lawful authority to administer the affairs of the Edo State Council pending fresh elections.
They further seek a declaration that the continued occupation of the NLC secretariat located at No. 1 Teboga Road, Benin City, as well as the retention of union assets, financial records, and official instruments by the defendants, is illegal and void.
The suit also prays for an order of perpetual injunction restraining the defendants from parading themselves as officials of the NLC Edo Council or interfering with the functions of the caretaker committee.
In addition, the claimants are seeking a mandatory order compelling the defendants to immediately hand over the secretariat, vehicles, financial documents, cheque books, and all other properties belonging to the union.
READ ALSO:JUST IN: NLC Begins Meeting With ASUU, Other Unions Over Strike
The caretaker committee further urged the court to restrain the state government and its officials from interfering in the internal affairs of the union, alleging undue support for the dissolved executive.
The claimants further demand N50 million as general and exemplary damages against the defendants for alleged unlawful usurpation of office and acts prejudicial to the administration of the council.
According to court documents made available to our correspondent, the crisis followed the dissolution of the Edo State Council by the NLC National Executive Council on February 27, 2025, over allegations of misconduct, anti-union activities, and constitutional violations.
However, the matter has yet to be assigned a hearing date.
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.
Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.
READ ALSO:Film Premiere: Edo In Talks With Embassies To Promote Safe Migration —Agazuma
La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.
The 24-year-old has two years left on his contract with the Serie A club.
The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.
He has been a regular feature for Lazio this season.
News
Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses
The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.
DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.
A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.
READ ALSO:Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria
“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.
“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.
“This contradiction will no longer be tolerated,” the statement said.
-
Politics4 days ago2027: Tinubu’s Re-election May Put An End To Nigeria — Baba Ahmed Warns
-
Business4 days agoJUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
-
Entertainment5 days agoActress Eniola Badmus Gets New Federal Appointment
-
News2 days agoBREAKING: Wike Picks Alabo George For Rivers Governorship
-
News4 days ago2027: Pastor Adeboye Speaks On Nigeria’s Next President
-
Politics4 days agoNDC Speaks On Peter Obi, Kwankwaso Joining Party
-
News3 days agoOPINION: Why South Africans Murder Nigerians In Cold Blood
-
Politics2 days agoJUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up
-
Entertainment4 days agoAgain, Tragedy Hits Nollywood As Another Actress Dies
-
Business2 days agoWhy We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO
