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Gbajabiamila warns MDAs against diversion of retention funds
House of Representatives Speaker Femi Gbajabiamila yesterday warned that Ministries, Departments and Agencies (MDAs) that have formed the habit of not remitting retention funds to the treasury will be punished.
Gbajabiamila, who spoke at a public hearing on the need to investigate the failure of MDAs to remit retention funds, said such action is denying the government the much-needed resources to fund annual budget, especially at a time when the global price of fossil fuel is going down.
Retention funds often five per cent of contract sum are regularly held back from contractors by MDAs and kept for either six months or one year while the project is being observed to ensure that it meets specification.
It is either paid to the contractor after six months or paid back to government treasury.
The Fiscal Responsibility Commission had accused about 122 MDAs of failure to remit N 1.2 trillion in 2020.
Gbajabiamila spoke just as the Chairman of the Ad hoc Committee investigating the non-remittance, Aniekan Umanah, frowned at failure of MDAs to honour invitation from the parliament.
He said such action was not good for democratic practice and good governance.
The Speaker, who was represented by Deputy Chairman of the House Committee on Public Accounts, Abdullahi Sa’ad, said: “On Tuesday, March 23, 2021, the House of Representatives resolved to investigate the reasons why MDAs have routinely failed to payout or return to the coffers of the Federal Government, the retention funds withheld by them as part of the procurement processes in the different institutions.
“Retention funds are not intended to be converted by the MDAs. Where those funds are not paid out as required by the law, they ought to be properly accounted for, and refunded to the coffers of the Federal Government to address the substantial revenue shortfalls resulting from the ongoing collapse in the international value of fossil fuels, as well as significant contraction in the global and local economy owing to the COVID-19 pandemic and other adverse factors.
“Where this has not been done, it is a violation of the law, and those involved in this practice will because of this investigation account for the use of these funds.
“This public hearing and the mandate of the Ad-Hoc committee is in fulfillment of our commitment in the 9th House to ensure due process practices in the management of public finances. As such, I want to personally as all stakeholders, heads of Ministries, Departments and Agencies, who may be invited to participate in this public hearing and any other activities of the committee to engage with good faith, and in the knowledge that we are all engaged in the difficult yet necessary work of building a nation where all government actions are underpinned by clue process and the rule of law.”
Committee Chairman Aniekan Umanah said the practice was inimical to the growth of small and medium scale enterprises (SMSEs) as it denied them the much-needed capital to stay afloat while part of the funds formed part of N 1.2 trillion the Fiscal Responsibility Commission accused about 122 MDAs of failure to remit in 2020.
He said: “In view of the importance of the subject matter, constituted an Ad-hoc Committee to carry out investigation on this matter and report back to the House their findings and recommendations.
“However, it is pertinent to note that that the idea of this investigative hearing is a direct response to the yearning of the public outcry with the need to resolve some pending issues in a contractual relationship with various MDAs.”
News
More trouble for Yahaya Bello as immigration places him watchlist
More trouble for Yahaya Bello as immigration places him on watchlist
The Nigeria Immigration Service has ordered the arrest of former Governor of Kogi State, Alhaji Yahaha Bello, if found at any entry/exit point of the country.
The NIS said on Thursday night that Yahaya Bellowas placed on its watchlist after evading arrest by the Economic and Financial Crimes Commission (EFCC) over allegation of N80 billion fraud.
This notice came a few hours after the EFCC had declared the former governor wanted.
The NIS, in a letter addressed to the Director-General, Department of State Services (DSS), the Inspector-General of Police, the Director-General of the National Intelligence Agency as well as other formations declared that Bello had been placed on its watch list.
The letter was signed by the Assistant Comptroller of Immigration (Suspect Index), D S Umar, on behalf of the Comptroller General of the Immigration Service.
Part of the letter read, “Suffice to mention that the subject is being prosecuted before the Federal High Court Abuja for Conspiracy, Breach of Trust and Money Laundering vide letter Ref: CR: 3000/EFCC/LS/EGCS.1/TE/V 1/279 dated 18th April 2024, if seen at any entry or exit point, he should be arrested and referred to the Director of Investigation or contact 08036226329/07039617304 for further action.”
News
BREAKING : EFCC declares Yahaya Bello wanted, seeks information on his whereabout
BREAKING : EFCC declares Yahaya Bello wanted, seeks information on his whereabout
The Economic and Financial Crimes Commission (EFCC) on Thursday declared former Kogi State Governor, Yahaya Bello, wanted.
The anti-graft agency said Bello is wanted for alleged offences relating to economic and financial crimes to the tune of N80.2 billion.
The EFCC called on Nigerians with information as to his whereabout to report immediately to the Commission or the nearest Police Station.
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“The public is hereby notified that YAHAYA ADOZA BELLO (former Governor of Kogi State), whose photograph appears above is wanted by the Economic and Financial Crimes Commission (EFCC) in connection with alleged case of Money Laundering to the tune of N80,246,470,089.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eighty Nine Naira, Eighty Eight Kobo).
Bello, 48-year old Ebiraman, is a native of Okenne Local Government of Kogi State. His last known address is: 9, Benghazi Street, Wuse Zone 4, Abuja.
Anybody with useful information as to his whereabouts should please contact the Commission in its lbadan, Enugu, Kano, Lagos, Gombe, Port Harcourt and Abuja offices or through these numbers 09-9044751-3, 08093322644, 08183322644, 07026350721-3, 0706350724-5; its e-mail address: info@efccnigeria.org or the nearest Police Station and other security agencies, ” a public notice issued by the EFCC read.
BREAKING : EFCC declares Yahaya Bello wanted, seeks information on his whereabout
News
BREAKING: Submit yourself for probe, FG tells Ex-Kogi gov, Yahaya Bello
BREAKING: Submit yourself for probe, FG tells Ex-Kogi gov, Yahaya Bello
The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, has called on the immediate-past governor of Kogi State, Alhaji Yahaya Bello, to submit himself for probe.
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