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Destruction of N17.158bn vouchers by termites: NSITF reacts

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The Nigeria Social Insurance Trust Fund (NSITF) has said the 2018 report by the Auditor-General of the Federation has nothing to do with the current management.

General Manager, Corporate Affairs, Ijeoma Okoronkwo reacted to the anger over the destruction of proof of N17.158billion expenditure.

A Senate committee chaired by Senator Mathew Urhoghide (PDP Edo South) had questioned the current and past leadership over monies transferred between January and December 2013.

The incumbent NSITF managing director, Michael Akabogu told the lawmakers that the vouchers could not be produced.

He explained that the container they were kept by the past management “has not only been beaten by rains over the years but even possibly being eaten up by termites.

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“I told the past management officers the need for them to help us out in answering this query with necessary documents which have not been made available for us.”

NSITF MD from 2010 to 2016, Umar Munir Abubakar said he could not provide answers as the audit was not carried out during his tenure.

His successor Adebayo Somefun (May 2017 to July 2020) said those in the account section should be able to trace the documents.

In a statement, Okoronkwo informed the public that the funds under investigation are cumulative financial violations between 2012 and 2017 .

“These infractions are not new. They have in fact been the subject of probes since the Office of the Auditor General of the Federation first raised the red flag in 2015.

“The negative trails of these breaches have nothing to do with the present management beyond assisting the Senate Committee to carry out its oversight functions,” he said.

Okoronkwo said the EFCC took the former NSITF board chairman and five other senior officials, including the Managing Director and three Directors, to court over some of the issues.

The spokesperson added that huge sums of money, as well as property had been recovered, while indicted staff members were sacked.

Okoronkwo said after the Senate initiated the current probe, Akabogu set up an internal committee to retrieve transactions’ details in First Bank and Skye Bank.

The official said the documents were submitted to the Senate and when they called for the vouchers showing the transactions, Akabogu requested that the former MD be invited to provide further answers.

The NSITF statement reiterated that the current management was not in possession of the vouchers.

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FG slashes interest rate on late tax payment

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The Federal Government (FG) has reduced the penalty interest rate for late settlement of tax liabilities, with the new regime taking effect from October 1, 2026.

Under the new arrangement, interest on tax liabilities payable in naira will be pegged to the Central Bank of Nigeria’s (CBN) Monetary Policy Rate (MPR) plus one percentage point, down from the previous five-percentage-point penalty.

The measure is contained in the Nigeria Tax Administration (Interest on Late Payment of Tax) Order, 2026, issued yesterday by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, pursuant to Section 65 of the Nigeria Tax Administration Act, 2025.

According to the minister, the new Order will apply uniformly to taxpayers dealing with federal, state and Federal Capital Territory (FCT) tax authorities.

However, the applicable interest rate on naira-denominated tax liabilities will not fall below the yield on 364-day Treasury Bills, reflecting the Federal Government’s cost of borrowing when tax payments are delayed.

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For tax liabilities payable in foreign currencies, interest will be charged at the Secured Overnight Financing Rate (SOFR) plus six percentage points.

The Order further provides that where SOFR is discontinued, its officially designated successor rate will apply.

Explaining the rationale for the new regime, Oyedele said the objective was to align the cost of late tax payments more closely with prevailing market conditions while providing taxpayers with greater certainty about their obligations.

“Tax that is due belongs to the public. When it is paid late, Government may have to borrow to fill the gap, and the cost falls on everyone.

“This Order ties the cost of late payment to real market rates, so that delaying tax does not become a cheaper form of credit than the market itself,” he stated.

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APC wins all Chairmanship, Councillorship seats in Enugu

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The All Progressives Congress (APC) has won all chairmanship and Councillorship seats contested in the Sept. 26 Local Government Election in Enugu State.

The Enugu State Independent Electoral Commission (ENSIEC) conducted election into the 17 Chairmanship and 260 Ward Councillorship positions in the state on Saturday.

Declaring the election results at the ENSIEC headquarters in Enugu on Sunday, the Chairman of the Commission, Prof Christian Ngwu, said that the election was free and fair.

Ngwu said that the election was conducted according to rules guiding the Commission, and “subsequently, we are issuing the winners with certificate of returns.”

Speaking after collecting his certificate of return, Chairman of Enugu South Local Government Area, Chief Caleb Ani, attributed the landslide victory of the candidates of APC to the massive developmental works of Gov. Peter Mbah.

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Ani urged the residents of the state to vote for Mbah en masse in the forthcoming 2027 General Election to continue the good works.

“Gov. Mbah has done well in all ramifications, this is partly while the APC candidates won overwhelmingly.

“I urge the people to vote for him, come 2027 General Elections so that he will continue with his good works and do more,” he said.

Reacting, the APC Chairman in Enugu State, Dr Martin Chukwunweike, said that the resounding victory at the polls indicated the dominance of the national ruling party, APC, in the state.

“We will not rest as we push the developmental efforts of President Bola Tinubu and our amiable governor, His Excellency Dr Peter Ndubuisi Mbah, for the world to see.

“Tinubu, Mbah and all the APC candidates will be reelected in 2027 as they have performed exceptionally well in the past three years,” he said.

In the numerical figures of the results pronounced, APC chairmanship candidates won with margins while the opposition parties trailed behind with minimal votes.

For instance, in Udenu, Igbo-Eze North and Igbo-Eze South local Government Areas respectively, the APC chairmen elect secured virtually the whole votes cast.

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‘Where is Nigeria’s president?’, Peter Obi questions Tinubu’s absence from UNGA

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Peter Obi and President Bola Tinubu
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Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has questioned the absence of President Bola Ahmed Tinubu from the 81st United Nations General Assembly (UNGA) in New York, contrasting it with Ghanaian President John Dramani Mahama’s participation in the global gathering.

Obi raised the question in a post on his Facebook page while commenting on Mahama’s address to the UN General Assembly on Thursday, September 24, 2026.

Mahama attended the UNGA and delivered Ghana’s national statement, where he addressed issues including global governance, Africa’s representation in international institutions and Ghana’s economic recovery.

Obi described the Ghanaian president’s address as “remarkable,” saying it demonstrated what leadership could achieve when competence, capacity, compassion, commitment and character were brought together in the service of a nation.

He subsequently asked why the president of Nigeria, Africa’s most populous country, was not personally present at the gathering.

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“Where is the President of Africa’s most populous nation, a country of more than 200 million people – more than Ghana – whose leader has been absent from the global stage for three consecutive UNGAs?” Obi asked.

The former Anambra State governor said Nigeria’s president ought to be representing the country and providing leadership for Africa at the international level, particularly at a time he said the country was facing significant domestic and international challenges.

Although Vice President Kashim Shettima is representing Nigeria at the 81st UNGA and leading the country’s delegation, Obi said his presence did not answer the question of the president’s absence.

“Although our Vice President, Kashim Shettima, was present, the question remains: Where is the President?” he wrote.

The Federal Government has said President Tinubu mandated Shettima to represent him at the UNGA and lead Nigeria’s delegation, with the Vice President authorised to deliver Nigeria’s national statement and participate in high-level meetings and bilateral engagements.

Shettima’s participation included meetings and engagements focused on Nigeria’s priorities and strengthening the country’s role in multilateral cooperation.

Obi, however, urged Nigerians to continue praying for the President’s return and for his leadership in addressing the challenges confronting the country.

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