Business
Court orders RMAFC to fix salaries of federal lawmakers
- NASS members’ pay to reflect economic realities
The Federal High Court in Lagos on Friday ordered the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) to fix the salaries and allowances of all senators and House of Representatives’ members to reflect the economic realities in the country.
It also ruled that the National Assembly Service Commission had no power to determine the remuneration and allowances of lawmakers.
The judgment by Justice Chuka Austine Obiozor followed the consolidated suits brought by Mr Monday Ubani, Mr John Nwokwu, more than 1,500 concerned Nigerians, Socio-Economic Rights and Accountability Project (SERAP), BudgIT and Enough is Enough Nigeria (EiE).
The judgment came after the hearing of originating summons in suit number FHC/L/CS/690/2018: Mr Monday Ubani and other, and suit number FHC/LA/CS/943/2019 involving SERAP, EiE, BudgIT, (suing for themselves and on behalf of 1522 concerned Nigerians).
The court ruled that RMAFC remained the only body responsible for determining the salaries, remuneration and/or allowances of the National Assembly or political offices holders.
The court heard arguments from the plaintiffs’ lawyers Mr Femi Falana (SAN) and Ms Adelanke Aremo.
This was disclosed in a statement by SERAP Deputy Director Kolawole Oluwadare.
It stated that the court ruled that “the National Assembly Service Commission has no power whatsoever to fix and determine or allocate the remuneration, allowances, salaries, emoluments or monetary values to the members of the National Assembly.”
The suit was filed following the reports that members of the National Assembly received running costs and allowances not determined by RMAFC and that such allowances were illegal because they were far above what the RMAFC prescribed.
Senator Shehu Sani had in an interview with The News magazine on the 8th of March 2018 revealed that “each senator receives N13.5 million monthly as running cost in addition to over N750,000 monthly consolidated salary and allowances.”
The plaintiffs in their consolidated suits stated, “RMAFC has failed to do any downward review of salaries and allowances of members of the National Assembly since 2007 in spite of the economic downturn in Nigeria. Yet, the commission is statutorily required to review the pay of the lawmakers, in conformity with the country’s economic realities and to achieve fiscal efficiency.”
The suits, read in part, “Given many years of extreme poverty in the country, and the inability of several state governments to pay salaries of workers and pensions, the refusal or failure of the Revenue Mobilization, Allocation and Fiscal Commission to review and cut the salaries and allowances of members of the National Assembly is a gross violation of the 1999 Nigerian Constitution (as amended) and the commission’s own Act.
“The allowances of wardrobe, newspapers, kitchen traveling domestic and constituency project allowances of the members of the National Assembly are never contemplated or in the intendment of the constitution which created them and specified how they can be remunerated.
“The duty of the RMAFC to review the salaries and allowances of members of the National Assembly is mandatory and the Commission cannot choose not to comply. Therefore, the failure or refusal by the Commission to comply with its own Act amounts to arbitrariness.
“Unless the reliefs sought by the plaintiffs are granted, the defendants and members of the National Assembly will continue to benefit from these outrageous salaries and allowances, in breach of the law and at the expense of millions of Nigerians living in extreme poverty.
“The amounts budgeted as payment for furniture and accommodation allowance to members of the 9th National Assembly negates the oath of office under the Seventh Schedule of the 1999 Constitution by members to perform their functions in the interest of the well-being and prosperity of Nigeria.
“The National Assembly comprises of 469 members – with 109 in the Senate and 360 in the House of Representatives. These public officers form a very tiny percentage of about 200 million Nigerians. Members are still eligible to collect huge sums of money as monthly allowances and severance pay at the end of their respective terms.”
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
READ ALSO:
- Nigeria denies alleged plot to destabilise Niger Republic
- Navy arrests 19 Nigerians attempting to reach Europe by hiding on ship
- Troops arrest four Ambazonian rebels in Taraba
Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
READ ALSO:
- Like Ibadan, stampede claim 10 lives for Abuja Catholic church, 17 in Anambra
- Marketers react after NNPCL slashes petrol price to N899 per litre
- Electricity: We installed 184,507 meters, issued 50 licences in Q3, says FG
The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
READ ALSO:
- Badenoch’s negative portrayal of Nigeria Police unfair-PCRC
- Bitcoin price crashes to $95,000 as market continues to react to Federal rate cuts
- Bauchi high court dismisses blasphemy, cybercrime charges against Rhoda Jatau
All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
-
Railway23 hours agoLagos Rail Mass Transit part of FG free train ride – NRC
-
metro2 days agoCourt stops customs from seizing imported rice in open market
-
metro3 days agoFG transfers electricity market regulatory oversight in Lagos to LASERC
-
metro2 days agoIbadan stampede: Tinubu orders probe as death toll hits 40
-
metro5 hours agoWhy we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam
-
metro1 day agoIbadan stampede: Ooni reacts after arrest of ex-wife
-
metro2 days agoAfe Babalola: Court grants Dele Farotimi bail, barred from media interviews
-
metro24 hours agoNIMC warns against extortion, reaffirms free NIN enrollment