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Ortom’s life pension bill for ex-governors outrageous, ridiculous, economy-crippling – Lawyer
Ortom’s life pension bill for ex-governors outrageous, ridiculous, economy-crippling – Lawyer
Nigerian lawyer from Benue State, Barr. Terhemen Oscar Aorabee-Gagajav has raised the alarm over a life pension bill proposed by Governor Samuel Ortom’s government in Benue State for former governors and deputy governors.
Aorabee-Gagajav, who described the proposed life pension bill as outrageous, ridiculous and economy-crippling, asked that the bill must not be passed into law.
He said if passed and implemented, it will not only cripple the economy of the state but will impoverish workers and other people of the state.
Further describing the bill as a pension scam, Aorabee-Gagajav said the bill titled ‘A Bill for a Law to make Provisions for the Maintenance of Former Governors of the State and their Deputies and for Other Matters Connected Thereto’, has been presented to the Benue State House of Assembly by the outgoing governor.
According to Aorabee-Gagajav, Section 1 of the bill established the title of the Bill and intended for it to have a retroactive effect, adding that it is expected to take effect from 1999 so that it will cover former governors and their deputies including Senator George Akume and the late Ogiri Ajene; Senator Gabriel Suswam and Steven Lawani; Dr. Samuel Ortom and Engr. Benson Abounu.
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He noted that further details of the bill showed that “Section 2(a)(i) makes provision for the payment to the former governors of a monthly ‘stipend’ equivalent to the ‘the salary’ of a sitting/incumbent governor.
“Section 2(a)(ii) makes provision for the payment to all former deputy governors of a monthly ‘stipend’, equivalent to the ‘the salary’ of a sitting/incumbent deputy governor.
“Section 2(b) provides for the building of a permanent residential accommodation in any town ‘of their choice’ by the State in Nigeria.
“Sections 2(c) and (h) provide for the provisions of 4 new cars every 4 years for the former governors and 2 new cars every 4 years for the former deputy governors whose cars shall be serviced and maintained at the expense of the State.
“Section 2(d) and (e) provide for 6 personal staff for the former governors and 3 for the former deputy governors to be paid for by the State.
“Section 2(f) provides for 24 hours security surveillance and guard for all former governors and their deputies at their direction.
“Section 2(g) provides for free medical treatment for them, their spouses and at least 4 children under the age of 18.
“Section 3 provides that all the above expenses can be monetized or cashed out!
“Section 4 entitled former governors to 2 vacations abroad annually and the former deputy governor to 1 vacation abroad.”
He pointed out that all the entitlements are for life and that the expenses are to be charged on the Consolidated Revenue Fund of the state (meaning that they are on First Line Charge) and are to take priority against other expenses like salaries, pensions and gratuity of the citizen. He added that all the entitlements except the vacation can be converted into cash and paid out.
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A critical review of the bill, according to Aorabee-Gagajav, shows that “Section 1 makes this Bill, when passed into Law, to have retroactive effect. This means that it will be backdated to cover all governors and their deputies democratically elected since 1999.
“It is important to note that if allowed to be passed, the state will be owing Governors Akume and Suswan with their Deputies all the entitlements provided for in the BILL/LAW.
“Again, the monthly stipends to be paid to the beneficiaries, apart from being for life and backdated, calculated and monetized, are capable of totally crippling the State Treasury and Economy.
“Remember that the law does not say that the stipend should be equivalent to the “BASIC SALARY” of a sitting governor but the “SALARY,” and my research shows that the monthly basic salary of a sitting governor is N2,223,794 while the monthly salary of a sitting governor, comprising allowances, etc., is N11,540,896.
“This means that Sen. George Akume alone will be entitled to N138,490,752 per annum from the time he left office till his death. Same for Senator Suswam and Gov. Ortom and the governors after them.
“Multiply N138,490,752 x 3 former governors in a year alone, you are going to be spending N657,276,456 on Ortom, Akume and Suswam alone in 2024 as monthly stipends. (We have not considered the backlog for Akume and Suswam.
“The three deputies will take home N440,631,348 per annum as monthly stipends. Add N657,276,456 to N440,631,348 for the governors and their deputies and you have N1, 097,907, 804. [These are the stipends for the 3 sets of governors and their deputies for one year alone]
“The governors and their deputies are entitled to 6 vehicles every four years. Let us assume that each vehicle costs N70, 000,000.00 (I am assuming this based on my findings on Jiji that a Toyota Landcruiser Prado Jeep, 2022 model costs about that much). If you multiply that sum for 6 cars, you will have N420,000,000.00 spent on them every 4 years. We will resist the urge to go on calculating the cost of service of these beasts for every year. Mind you that the Law does not place a ceiling on the cost of the cars.
“Note also, the Bill does not stipulate that the old four-year-old cars should be returned to the State Pool in exchange for the new cars.
“Next is the provision for the building of residential accommodations of no prescribed limit in value in any Town of their choice in Nigeria. I assume that nobody would want to have a house built for that purpose in Makurdi, Gbajimba, Anyiin or Wannune. They would rather prefer to have a house in Banana Island or Asokoro in Abuja where the cost of buying plain land alone will cost hundreds of millions and building could cost a billion or more.
“What about the medical expenses for them, their spouses and AT LEAST 4 children irrespective of whether the children are biological or not. Once a child reaches the age of 18, he or she could easily be replaced by another “child”. Again the medical expenses are not limited in value or within Nigeria.
Ortom’s life pension bill for ex-governors outrageous, ridiculous, economy-crippling – Lawyer
News
Currency in circulation now N4.8tn – CBN report
Currency in circulation now N4.8tn – CBN report
Currency in circulation has reached an all-time high of N4.8 trillion as of November 2024, recording over seven per cent increase from the previous month.
Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6 trillion from the N4.2 trillion in the month of October.
These figures were contained in the money and credit supply data from the Central Bank of Nigeria (CBN).
The currency in circulation is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses.
It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.
Similarly, currency outside a bank refers to cash held by individuals, businesses and other entities that is not stored in banks.
The currency outside the bank represents about 96 per cent of the currency in circulation.
Nigerians have in recent times been facing acute cash shortage with banks limiting daily withdrawal at Automated Teller Machines (ATMs) to N20,000 irrespective of the number of accounts held by an account owner.
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According to the latest data, the currency in circulation grew by seven per cent to reach 4,878,125.22 from 4,549,217.51 in October.
Currency in circulation has grown steadily in the outgoing year 2024 with over one trillion naira added to cash in circulation after starting the year with N3.65 trillion in January.
In February, the currency in circulation slightly increased to N3.69 trillion representing an increase of N43 billion or 1.18 per cent from the January figure.
March also saw an appreciable increase to N3.87 trillion while it further increased to N3.92 trillion in the following month of April.
The growth trajectory continued in May with the currency in circulation increasing slightly to N3.97 trillion, an increase of N42 billion or 1.07 per cent while it reached an all-time high of 4.04 trillion, an increase of 2.11 per cent from May.
The July figure also rose marginally with the currency in circulation settling for N4.05 trillion before growing to N4.14 trillion in August and N4.43 trillion in September and N4.5 trillion in October.
In the same vein, currency outside banks grew from N4.2 trillion in October to N4.6 trillion in November, showing increasing preference for other means of storing outside bank deposits.
Economist, Dr. Paul Alaje attributed the development to the expanding money supply, adding, “Money supply is expanding but this may not necessarily be in cash. As it is expanding, it will necessarily induce inflation. But you can’t blame the people. People must look for money. How much was bottled water last year, how much is it today? All of this will induce inflation. If you now ask, what is the cause of inflation? Is it money supply itself or a devaluation policy? It is a devaluation policy. Money supply is an offshoot. So the Central Bank is raising interest rates to actually reduce money supply but the more they try the more money supply expands.”
He stated that the floatation policy of the CBN has created inflation, adding, “It is like chasing one’s tail and I don’t know if you are going to catch it.”
Currency in circulation now N4.8tn – CBN report
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Tinubu not telling Nigerians the truth, says Sule Lamido
Tinubu not telling Nigerians the truth, says Sule Lamido
President Bola Tinubu has been accused of not being forthright about the true state of Nigeria under his administration.
Former Jigawa State Governor and senior Peoples Democratic Party (PDP) member, Sule Lamido, made the accusation while speaking on the BBC Hausa programme Gane Mini Hanya.
Lamido criticized both Tinubu and former President Muhammadu Buhari for what he described as a lack of transparency in governance.
“Buhari’s and Tinubu’s governments are not being transparent with Nigerians unlike during the time when PDP was in power where everything was transparent and open to all Nigerians,” Lamido said.
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He accused the two administrations of relying on propaganda rather than providing citizens with accurate information.
Lamido also expressed concerns over President Tinubu’s recent loan requests, questioning the logic behind them. “If Nigerians are being told the truth then there is nothing wrong with that, but how would you budget N30tn, generate N50tn and then request loan when you have a surplus of N20tn,” he said, referencing last year’s budget.
He described the situation as “reckless” and “selfish,” adding, “This recklessness and clear-cut selfishness is not done anywhere in the world, but yet you find (some) Nigerians supporting it. Visit social media and see how APC is being criticised, being referred to as calamity, yet you find some protecting it.”
Tinubu not telling Nigerians the truth, says Sule Lamido
News
Nigeria Customs Service begins 2025 recruitment [How to apply]
Nigeria Customs Service begins 2025 recruitment [How to apply]
The Nigeria Customs Service (NCS) has announced the commencement of its recruitment exercise, assuring Nigerians that the process is entirely free and fair.
The agency has cautioned the public to be vigilant against scammers who may attempt to exploit unsuspecting applicants during the recruitment period.
Applications are invited for positions in the Superintendent, Inspector, and Customs Assistant cadres as part of the Service’s plan to recruit 3,927 officers in 2025.
This initiative is aimed at enhancing trade facilitation and supporting Nigeria’s economic recovery efforts.
“Our recruitment is entirely free and fair. At no stage do we charge fees. Anyone requesting payment is a scammer,” the agency emphasized, urging applicants to be wary of fraudulent schemes.
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The NCS outlined eligibility criteria, stating that applicants must be Nigerian citizens by birth, possess a valid National Identification Number (NIN), and have no criminal record or ongoing investigations.
Academic qualifications for the three cadres are as follows:
Superintendent Cadre: A university degree or Higher National Diploma (HND) along with an NYSC discharge or exemption certificate.
Inspectorate Cadre: A National Diploma (ND) or Nigeria Certificate in Education (NCE) from an accredited institution.
Customs Assistant Cadre: At least an O’Level certificate (WAEC or NECO).
In addition to these qualifications, the NCS stressed that all applicants must be physically and mentally fit, providing evidence of medical fitness from a recognized government hospital.
Nigeria Customs Service begins 2025 recruitment [How to apply]
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