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Security Votes: Governors Meet With EFCC, ICPC, FIRS, CBN On Tuesday

Published

3 years ago

April 2, 2023

The thirty- six State Governors under the aegis of the Nigeria Governors’ Forum, NGF have concluded arrangements on how to meet with the Economic and Financial Crimes Commission, EFCC and the Independent Corrupt Practices and other related offences Commission (ICPC) on how to manage their states’ security votes.

Also to be at the meeting slated for Tuesday, April 4th through virtual to brainstorm on thorny issues surrounding security votes allocated to States are the Federal Inland Revenue Service, FIRS and the Central Bank of Nigeria, CBN.

According to a statement signed by NGF Director, Media Affairs, AbdulRazaque Bello-Barkindo, the meeting will take place virtually on Tuesday, April 4 and that the Director- General of NGF, Asishana Bayo Okauru said that the agencies expected to be at the meeting include the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other related offences Commission (ICPC), the Federal Inland Revenue Service(FIRS) and the Central Bank of Nigeria (CBN).

Security vote is a monthly allocation given to state governments for improved security.

According to Wikipedia, “security vote in Nigeria is a monthly allowance that is allocated to the 36 states within the Federal Republic of Nigeria for the sole purpose of funding security services within such states.

“The monthly fund runs into billions of naira and vary based on the level of security required by the individual state.”

The statement read, “Governors of the 36 states of the federation are to meet with all the economic and financial agencies in the country, with a view to ironing out thorny issues surrounding their states’ security votes, towards establishing a better option of managing the funds.

“The meeting, which is to take place on Tuesday April 4, according to an invitation issued by the Director General of the Nigeria Governors’ Forum, Mr. Asishana Bayo Okauru, will be virtual, to ensure full attendance by all the relevant officers in the matter.

“Those invited to the meeting include the Economic and Financial Crimes Commission, EFCC, the Independent Corrupt Practices and other related offences Commission, ICPC, the Federal Inland Revenue Service, FIRS and the Central Bank of Nigeria, CBN.

“Furthermore, the meeting will also consider deepening the management and expansion of the cashless policy which took effect from the time of the redesigning of the national currency, the Nigerian Naira, last year, to further the financial inclusion of all citizens in the ensuing scheme of things, going forward.

“This meeting is called at the instance of the Nigeria Financial Intelligence Unit, NFIU, in its letter of 30th March, which was addressed to the Chairman of the NGF and signed by the NFIU Director, Modibbo Hamman Tukur.

“The letter said that apart from the facilities for national financial inclusion, it is also putting on the table the uniform development and cooperation on the national addressing and post code project, which will put Nigeria on the same pedestal as all advanced countries across the globe.

“Also on the agenda is a consensus on harmonizing and updating the national tax collection and business entry standards and its requirements to help respond to the FATF and the EU grey listing in which Nigeria appeared.

“All Governors are advised to prioritize the meeting as its contents had been discussed at the NGF emergency meeting of Thursday 30th March, where it was unanimously agreed that a meeting with the afore-mentioned agencies was imperative.”

Recall that over the years, whatever Nigerians have heard about the real amount being appropriated to state governors in Nigeria as security has remained a guess work, just as even those in the corridors of power, have described security votes as humongous amount of money that is spent by governors unaccounted for.

Wikipedia had noted that security votes have not been widely accepted by citizens, as most have claimed that such funds are being abused by the state governments, because how the funds are disbursed is not accountable to any agency.

According to Transparency International, Nigeria allocates an estimated N241.2 billion (about $670 million) to security votes annually.

The international governance and rights watchdog had decried Nigeria’s annual allocation to security votes, saying that it is more than the Nigerian Army’s annual budget, 70 percent more than the Nigerian Police Force annual budget, and far higher than the United States of America and United Kingdom’s security assistance to Nigeria.

Transparency International said that since 2012, the US has spent $68.6 million in security assistance to Nigeria, while the UK has given over $53.5 million (£40 million) in counterterrorism support to Nigeria from 2016 to 2020.

News

Six Corps Members Receive N10m Grants To Boost Agribusiness

Published

1 day ago

September 22, 2026

Editor

Six members of the National Youth Service Corps (NYSC) have received a total of N10 million in grants to expand their agribusiness ventures under the Farmers for the Future Programme.

The programme was organised on Monday by the British American Tobacco Nigeria Foundation (BATNF) in collaboration with the NYSC to encourage young Nigerians to embrace agriculture and develop sustainable businesses.

Presenting the cheques to the beneficiaries in Abuja, the NYSC Director-General, Brigadier General Olakunle Nafiu, urged Corps members to maximise the opportunities provided by the service year by venturing into commodity marketing and other viable businesses.

Nafiu said agribusiness remained a viable avenue for young people to build sustainable enterprises, create employment and generate wealth.

He also stressed the importance of value addition to the success and sustainability of business ventures, while commending BATNF for placing Nigerian youths at the centre of its entrepreneurship initiatives through value-chain development, employment creation and its partnership with the NYSC.

“I charge you to spread the news around. We have seen the outcome, and it is a good idea,” he said.

The beneficiaries are Dominic Olufemi (FC/25C/1143), who received N3 million; Temitope Adewole (ED/26A/2251), N2 million; Abdulwaheed Bala (ED/25B/1402), N2 million; Olanike Mayungbe (OG/26B/1037), N1 million; Kingsley Udoeyen (KG/26A/1735), N1 million; and Lorember Lorsue (JG/25B/1742), N1 million.

Speaking on the selection process, the Acting Director, Skills Acquisition and Entrepreneurship Development (SAED), Mrs Winifred Shopeka, said the programme began with an online registration portal through which Corps Members engaged in agribusiness submitted their business plans.

She said nearly 3,000 Corps members applied and underwent a rigorous selection process that produced 20 finalists.

According to her, the finalists participated in a boot camp and a final pitching session, which produced the 10 best presenters before the six ultimate winners were selected.

Shopeka said the beneficiaries had also been mentored and attached to established market operators to assist them in marketing their products.

She added that Corps Members who did not make the final stage of the competition were also trained by BATNF.

The BATNF Team Lead, Mr Oludare Odusanya, congratulated the beneficiaries and urged Corps Members engaged in agribusiness to master the fundamentals and acquire the knowledge and skills necessary to succeed.

“We are happy with our collaboration with the NYSC, and it will continue,” he said.

Odusanya explained that BATNF was an independent organisation established to contribute to poverty reduction in Nigeria through sustainable agricultural practices and other interventions.

He said the Farmers for the Future Programme was instituted in collaboration with the NYSC to encourage Corps Members to venture into agribusiness and become job creators.

He added that the beneficiaries would be attached to mentors who would guide them towards achieving success in their respective businesses.

According to him, the programme has, since its inception, continued to enhance the entrepreneurial capacity of Corps Members.

News

CBN Reduces Interest Rate To 23%

Published

1 day ago

September 22, 2026

Editor

The Central Bank of Nigeria (CBN) on Tuesday announced the reduction of the interest rate, also known as Monetary Policy Rate (MPR) to 23 percent.

Briefing the media in Abuja, the Governor of the CBN, Mr. Olayemi Cardoso, said at the 307th MPC meeting held on September 22, 2026 agreed the resetting of the MPR and recaliberation of the monetary policy market.

According to Cardoso, the committe is satisfied with the disinflation progress, adding that members noted stable banking sector following successful recapitalisation.

Meanwhile, according to Nigerian Tribune, reports that that the MPC, at its 306th meeting in July 2026, disclosed its resolution to retain the interets at 26.5 percent.

According to the Governor of the CBN, Olayemi Cardoso, “the Committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, due mainly to the renewed hostilities in the Middle East.

“In view of the evolving developments, maintaining a cautious monetary policy stance remains appropriate. In arriving at its decision, the Committee noted the recent resurgence of hostilities in the Middle East, with particular attention to its spillover effects on global energy prices and the potential pass-through to domestic inflation.”

News

NURTW: KWAM1 Settles Long-time Rift Between MC Oluomo, Tafa Sego

Published

1 day ago

September 22, 2026

Editor

Nigerian Fuji musician, Wasiu Ayinde Marshal, popularly known as KWAM1, has brokered a peace deal between the National Union of Road Transport Workers (NURTW) National President, Musiliu Akinsanya, popularly known as MC Oluomo, and the Lagos State Chairman of the union, Mustapha Adekunle, aka Tafa Sego.

The reconciliation took place at Ojusagbola in Ijebu, Ogun State, where several NURTW chieftains gathered for the meeting.

The development was announced on Tuesday on KWAM1’s digital media page on Instagram, alongside photographs from the meeting.

According to the post, the two union leaders have resolved their differences after years of strained relations.

“After years of an age-long rift, MC Oluomo and Tafa Sego have finally settled their differences. And from what we know now, this is final,” the post said.

The musician was said to have intervened as the Mayegun of Yorubaland, with the aim of bringing an end to the longstanding disagreement between the two NURTW figures.

“K1 acted in his role as the Mayegun of Yorubaland by seeking an end to the long-standing rift, once and for all,” it said.

The post also described the meeting as a significant step beyond previous public displays of reconciliation.

“This time, it was not just another handshake for the cameras. The two old friends and colleagues came together at Ojusagbola, with King Wasiu Ayinde Marshal (K1) playing the peacemaker.”

Both MC Oluomo and Tafa Sego were reported to be pleased with the outcome of the intervention.

“Both parties are delighted about the new development,” the post said.

The two men had previously been allies and prominent figures within the Lagos NURTW before their relationship became strained amid disagreements linked to leadership of the union in the state.