On Air Now:
Now Playing:Loading...
site loader
January 19, 2025 UK Investigation Finds No Stolen Nigerian Funds Tied to Diezani – Ozekhome

UK Investigation Finds No Stolen Nigerian Funds Tied to Diezani – Ozekhome

Legal luminary Prof. Mike Ozekhome, SAN, has refuted persistent corruption allegations against former Minister of Petroleum Resources, Diezani Alison-Madueke, stating that UK authorities have never traced any stolen Nigerian funds to her.

In a statement titled There is no such thing as Diezani Loot released on Sunday, Ozekhome revealed that the former Executive Chairman of the EFCC, Abdulrasheed Bawa, assured her legal team that no Nigerian government funds had been found stolen by Alison-Madueke.

He noted that the former minister, under investigation by UK authorities since October 2015, has not been charged with misappropriating public funds despite years of scrutiny.

According to Ozekhome, Alison-Madueke’s prolonged ordeal is rooted in baseless accusations, unverified claims, and public vilification without evidence. He highlighted instances where her name was unjustly linked to allegations, such as the case of the ‘Galactica Yacht,’ which she neither owned nor had seen.

Ozekhome cited a Federal High Court ruling in Abuja that cleared individuals involved in a Strategic Alliance Agreement (SAA) of any wrongdoing. He emphasized that issues of non-payment related to the Atlantic Energy SAAs were operational and had no connection to Alison-Madueke, who acted appropriately by alerting authorities and initiating recovery measures when concerns arose.

The lawyer clarified that Alison-Madueke’s role as minister was limited to endorsing contracts already vetted by the NNPC and that she followed due process in her statutory duties.

Ozekhome also revealed the former minister’s health struggles, disclosing that she underwent chemotherapy for cancer shortly before her detention in the UK. Despite her health challenges, he lamented, Alison-Madueke has faced relentless public scrutiny and unfounded accusations.

He called on the public to allow the UK legal process to proceed without interference or prejudice, urging for a fair hearing. “Let the law take its natural course. It is time to stop the vilification of an innocent Nigerian citizen,” Ozekhome concluded.

READ ALSO: Diezani Alison-Madueke Charged With Bribery Offences In UK

January 18, 2025 Tinubu Commends Governors for Supporting Tax Reform Bills

Tinubu Commends Governors for Supporting Tax Reform Bills

President Bola Tinubu has commended the governors for their unanimous endorsement of the Tax Reform Bills, calling their decision a “bold and commendable” step toward national progress.

On Thursday, the Nigeria Governors’ Forum (NGF) declared its support for the contentious tax proposals, a move celebrated by advocates of the reforms. Responding swiftly, presidential spokesman Bayo Onanuga conveyed Tinubu's gratitude in a statement released on Friday evening.

President Bola Tinubu expresses his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly,” the statement read.

Tinubu praised the governors for their courage and unity in overcoming regional, ethnic, and political divisions to prioritize Nigeria’s development. He also acknowledged their leadership as a significant factor in advancing the nation's economic goals.

The governors' endorsement followed a meeting with the Presidential Committee on Tax and Fiscal Policy, which Tinubu described as “a model of cooperation between the federal and state governments.” According to the presidency, the dialogue underscored the importance of constructive engagement in resolving disagreements.

The president extended special thanks to Kwara State Governor Abdulrahman AbdulRazaq, Chairman of the Governors’ Forum, for rallying his colleagues to support the transformative bills aimed at rejuvenating Nigeria’s economy and improving its investment climate. He also recognized the Progressive Governors Forum, Northern Governors Forum, and other bipartisan groups for fostering consensus.

Addressing criticisms of the bills, particularly from some northern stakeholders, Tinubu emphasized their "pro-poor" design, which aims to promote national interests, enhance economic competitiveness, and attract both local and foreign investments. He stressed that modernizing Nigeria's outdated tax laws is a critical step in achieving these objectives.

“President Tinubu regards the governors as vital contributors to nation-building and remains committed to partnering with them to promote economic growth, harmony, peace, and stability,” Onanuga said.

The president also invited other stakeholders to present their ideas and suggestions for refining the bills, urging constructive engagement with the ongoing legislative process.

Tinubu called on the National Assembly to expedite the approval of these crucial bills, noting the urgency of implementing the reforms to unlock their economic benefits.

In October, Tinubu submitted four tax reform bills to the National Assembly, including the Tax Administration Bill, the Nigeria Tax Bill, and the Joint Revenue Board Establishment Bill. One of the proposals involves repealing the Federal Inland Revenue Service (FIRS) Act and replacing it with the Nigeria Revenue Service.

Although these proposals initially faced opposition, the recent collaboration between the federal government and the governors represents a promising step forward.

January 17, 2025 Governors Approve Tax Reform Bills, Suggest Revised VAT-Sharing Formula

Governors Approve Tax Reform Bills, Suggest Revised VAT-Sharing Formula

Nigerian governors have expressed strong support for the Federal Government’s tax reform bills while proposing a new formula for sharing value-added tax (VAT). This decision was reached during a meeting of the Nigeria Governors’ Forum (NGF) and the Presidential Tax Reform Committee held on Thursday.

In a communiqué released after the meeting, the governors emphasized their commitment to overhauling Nigeria’s outdated tax laws. “The Forum reiterated its strong support for the comprehensive reform of Nigeria’s archaic tax laws. Members acknowledged the importance of modernizing the tax system to enhance fiscal stability and align with global best practices,” the statement read.

As part of their recommendations, the governors proposed a revised VAT-sharing formula designed to ensure fair resource distribution. The new formula allocates 50% based on equality, 30% on derivation, and 20% on population.

Additionally, the governors agreed that there should be no increase in the VAT rate or reduction in Corporate Income Tax (CIT) at this time to maintain economic stability. “The Forum advocated for the continued exemption of essential goods and agricultural produce from VAT to safeguard the welfare of citizens and promote agricultural productivity,” the communiqué, issued by NGF Chairman and Kwara State Governor Abdul Rahman Abdul Razaq, stated.

The NGF also recommended removing terminal clauses for agencies such as the Tertiary Education Trust Fund (TETFUND), the National Agency for Science and Engineering Infrastructure (NASENI), and the National Information Technology Development Agency (NITDA) in the sharing of development levies outlined in the bills.

Despite the controversies surrounding the tax reform bills, the governors voiced their support for the legislative process currently underway in the National Assembly, aiming for the eventual passage of these reforms. “Members support the continuation of the legislative process at the National Assembly that will culminate in the eventual passage of the Tax Reform Bills,” the communiqué noted.

The tax reform effort began last year when President Bola Tinubu submitted four tax reform bills to the National Assembly. These include the Tax Administration Bill, Nigeria Tax Bill, and Joint Revenue Board Establishment Bill. The proposals also seek to repeal the law establishing the Federal Inland Revenue Service (FIRS) and replace it with the Nigeria Revenue Service.

However, the proposed reforms have faced resistance, particularly from northern governors and leaders, who argue that the bills are unfavorable to the region. Some have gone as far as labeling them “anti-north” and urging the National Assembly to reject them. President Tinubu, however, has remained firm, assuring the public that the bills aim to improve the lives of all Nigerians and are not targeted at any region.

The Presidency has reiterated that the reforms are essential for fostering economic development and ensuring a fairer tax system across the country.

January 16, 2025 Drama Unfolds in NASS as IGP Egbetokun Presents 2025 Budget

Drama Unfolds in NASS as IGP Egbetokun Presents 2025 Budget

A tense confrontation unfolded in the National Assembly on Thursday during the 2025 budget defense session, as Inspector-General of Police Kayode Egbetokun presented the Nigeria Police budget.

The session became heated when two lawmakers pointed out discrepancies between the IGP’s presentation and the documents previously circulated to them.

Efforts by the committee chairman to allow the IGP to continue while resolving the concerns sparked strong resistance, leading to a loud exchange. The disagreement escalated, culminating in one senator walking out in protest.

Calm was eventually restored, and the IGP resumed his presentation. He reiterated his persistent appeal for the Nigeria Police Force (NPF) to be exempted from the restrictive "envelope budget system," arguing that the current framework undermines the Force’s capacity to effectively address national security challenges.

Senator Abdul Ningi, however, countered that the envelope budgeting system “is neither a legal entity nor ratified by the National Assembly and should therefore remain the standard approach.”

Meanwhile, other lawmakers supported the idea of revisiting the police budgeting process, advocating for a transition to a more flexible and needs-based funding model to better address the Force’s operational challenges.

 

Watch Live

x
PHP Code Snippets Powered By : XYZScripts.com
X