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Why we held finance commissioners workshop in London – OAGF
Why we held finance commissioners workshop in London – OAGF
The Office of the Accountant-General of the Federation (OAGF) has given reasons for holding a workshop on public financial management for finance commissioners in Nigeria in London, the United Kingdom.
Speaking on the rationale behind holding the workshop in the UK, Bawa Mokwa, director of press at the accountant-general’s office, it was because the facilitators were residents of that country.
He said, “It is an annual event. The OAGF members present at the meeting are sub-committees of FAAC.
“Members of the implementation committee are commissioners of finance of the 36 states. They usually go to the UK to do it annually because the resource persons are resident in the UK and they implement it to the letter.”
The spokesperson said the event was approved by the National Economic Council (NEC).
Nigeria is currently facing a chronic foreign exchange (FX) crisis that is worsening the plight of businesses, especially manufacturers, amid a prolonged economic hardship that began after the petrol subsidy removal and naira float policies by the Bola Tinubu administration.
The workshop on public financial management and international public sector accounting standards (IPSAS) was held at Copthorne Tara Hotel, Kensington London, from March 4 to March 9, 2024.
The workshop was titled, ‘Public Financial Management and IPSAS Workshop for State Commissioners of Finance and Officials of OAGF’.
According to the event’s brochure, the five-day programme was attended by the federation account allocation committee’s (FAAC) sub-committee on IPSAS implementation in Nigeria, office of the accountant-general of the federation, Abuja.
The topics covered during the workshop included IPSAS — overview, objectives and impact on accountability; IPSAS board strategy and work programme 2024-2028 — challenges of IPSAS implementation in Nigeria; and key issues in the preparation of IPSAS-compliant financial statements.
Others are accounting and reporting in a hyperinflationary economy, public financial management (PFM) in Nigeria — implementation and challenges, budget implementation in Nigeria and challenges.
Part of the workshop activities also included a courtesy visit to the high commissioner of the Nigerian high commission in London.
The sessions started at 10am daily and ended at 2.30pm, with participants departing on March 9, 2023.
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Lagos GDP hits N41tn, earns N433bn from IGR
Lagos GDP hits N41tn, earns N433bn from IGR
According to Ope George, Commissioner for Economic Planning and Budget, Lagos State’s Gross Domestic Product (GDP) has surged from N27 trillion to N41 trillion over the past four years.
George highlighted that this achievement positions Lagos as the 7th largest economy in Africa based on GDP.
At the ministerial press briefing marking the first year of Governor Babajide Sanwo-Olu’s second term, held at Alausa, Ikeja, Lagos, George emphasized the state’s significant contribution, constituting over 20% of Nigeria’s GDP.
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He remarked, “Currently, we are ranked 7th in GDP in Africa. Our trajectory demonstrates positive growth despite past challenges.”
The commissioner revealed that the state government recorded a total revenue of N433.408 billion in the first quarter of the 2024 fiscal year.
George elaborated, “Quarterly performance indicates 92% revenue realization at N433.408 billion. Recurrent expenditure reached 80%, totalling N189.624 billion, while capital expenditure achieved 54% performance at N178.728 billion. Total expenditure (budget size) stood at 65% performance, amounting to N368.352 billion.”
He further outlined the details of the approved Y2024 budget, which includes a total revenue projection of N1.880 trillion, deficit financing of N387.125 billion, capital expenditure of N1.315 trillion, and recurrent expenditure of N952.431 billion (including debt charges), maintaining capital to recurrent ratio of 58:42.
Lagos GDP hits N41tn, earns N433bn from IGR
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Three senior govt officials arrested over alleged illegal citizenship for foreigners
Three senior govt officials arrested over alleged illegal citizenship for foreigners
The Kano State government said three of its top civil servants have been apprehended for engaging in citizenship racket.
The indicted government officials were arrested by the State Public Complaint and Anti-corruption Agency.
According to the anti-graft agency, the three senior officials allegedly recommending Nigerian citizenship to illegal migrants.
Speaking to newsmen on Thursday in Kano, the chairman of the agency, Muhuyi Magaji, disclosed that the suspects collected bribes from the foreign nationals for the the illegal activity.
He alleged that the suspects planned to write letters of recommendation to the Federal ministry of internal affairs, using government letter-headed papers.
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He named the suspects as Kabiru Shehu of the ministry of information; Hassan Aminu from Office of the state Head of Service; and one AMusa Falgore, a retired staff of the information ministry.
“These are senior officials of Kano state government conniving to write fake letters recommending illegal aliens to secure Nigerian citizenship.
“We have arrested them. They are giving us useful information. We will keep interrogating them and at the end, if found wanting, they will be prosecuted.
“We will not tolerate this kind of unpatriotic action from senior government officials.
“This government abhors corruption, and we will do everything possible to ensure that anybody found neck-deep in corruption is exposed,” Mr Muhuyi said.
Three senior govt officials arrested over alleged illegal citizenship for foreigners
(NAN)
News
Group protests alleged imposition of Imam in Osun
Group protests alleged imposition of Imam in Osun
A Muslim group in Inisa, Odo-Otin Local Government area of Osun State, has threatened to embark on mass protest over alleged imposition of Imam on the community’s central mosque.
The mosque had been without leadership since the demise of the imam, his deputy, and third in command, within the space of two months, in 2020, following the crisis over succession plan.
However, in December 2023, Osun State governor, after observing Juma’at prayer in the mosque, adopted one Hakeem Jamiu as the imam.
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But a Muslim group in the town, Inisa Muslim Elites Association, IMEA, while addressing newsmen in Osogbo, yesterday, described the governor’s action as an affront on Islamic teachings and provided guidelines on the appointment of an imam.
Fielding questions from journalist, Imam Raji Oladejo said the Muslim Ummah in the town are ready to lay down their lives to the dictates of the religion on the matter and would not succumb to any imposition from any quarter.
His words: “We have called the attention of every stakeholder on this matter over the illegalities of those who imposed an imam on us in Inisa. We have repeatedly stressed the need to follow due process, and a case is still in court.”
Group protests alleged imposition of Imam in Osun
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