News
Senate orders SEC to remit N300 million into Federation Account within one week, queries huge salary expenditure
The Director General of Securities and Exchange Commission (SEC), Lamido Yuguda , was queried Tuesday by the Senate’s joint Committee on Finance and National Planning on bogus N10 billion spent on salaries of less than 600 staffers of the agency on yearly basis .
The Committee led by Senator Olamilekan Adeola ordered the agency to unfailingly remit N300million into the Consolidated Revenue Fund ( CRF) , latest by Thursday next week.
Trouble came the way of SEC, when its DG, during his submission before the Committee on revenue projections for the 2021 budget , said, out of N4billion revenue generated by SEC in 2019, only N86.835million was remitted into the CRF .
Piqued by the wide gap between revenue generated and remittance made, Senator Adeola sought for comments from the Accountant General of the Federation (AGF ) , Ahmed Idris, on the performance index of SEC.
The AGF in his response said, the N86.835million remitted into CRF by SEC in 2019 from the N4billion revenue generated , was grossly low.
“The least of such remittance expected from SEC from N4billion revenue is N846million , meaning that the agency is owing the federal government N760million “, he said .
Infuriated by the disclosure made by the AGF, the committee members took up the SEC boss on why whopping N10billion is being expended on salaries of less than 600 staffers of the agency on yearly basis .
According to Senator Adeola, the N10billion when spread on 600 staffers , shows that each of the staff of the agency collects N15.7million per annum .
“This is unacceptable for a country seriously looking for more revenues internally to fund it’s budget “, he said .
But the DG of SEC in his response, said he met the agency as a ‘top heavy Organization ‘ , which according to him, made it difficult to give critical review with the required urgency .
Consequently, the Committee resolved that since SEC as a self financing agency got N1.7billion budgetary allocation from the federal government in 2019, but generated N3.7billion as revenue, it can be excluded from yearly budgetary allocations.
Though the DG first pleased that such exclusion should be restricted to recurrent expenditure component of the yearly budget but later agreed with the committee members that it should also be exited from capital votes .
The Peoples Democratic Party, PDP has lost its quest to remove the ally of Chief Nyesom Wike as the Supreme Court of Nigeria in the early hours of Friday affirmed Senator Samuel Anyanwu as the National Secretary.
Anyanwn who was planted by Wike as the National Secretary of the PDP has been engrossed in legal battle as Wike, the former governor of Rivers State and Minister of the Federal Capital Territory, FCT is now loyal to the ruling All Progressives Congress, APC.
In a unanimous judgment, the five member panel averred that the matters bordering on the leadership or membership of a political party is its internal affair and should not be the business of a Court, hence, the Court has washed off its hands in PDP affairs.
The court proceeded to set aside the decision of Appeal Court, Enugu Division which on 20 December 2024 affirmed the removal of Anyanwu by a Federal High Court in Enugu.
The Apex Court held the Federal High Court lacked jurisdiction to have heard the matter instituted by Aniagwu Emmanuel.
Anyanwu contested for Imo State Governorship on the platform of PDP in 2023, but failed to secure victory.
News
Emergency Rule in Rivers: Senators Dickson, Abaribe, Tambuwal walk out of Senate Chambers in protest
As the Nigerian Senate approved the emergency rule declared in Rivers by President Bola Ahmed Tinubu, Senators Seriake Dickson, Enyinnaya Abaribe and Aminu Waziri Tambuwal walked out of Chambers in protest of Senate’s position.
Seriake Dickson representing Bayelsa West Senatorial District (PDP), Enyinnaya Abaribe representing Abia South Senatorial District (APGA) and Senator Aminu Waziri Tambuwal representing Sokoto South Senatorial District (PDP) were unhappy over the declaration of emergency that suspended Governor Siminalayi Fubara out of office.
Senators Seriake Dickson and Aminu Tambuwal who was also a former Speaker of the House of Representatives are lawyers and said, the declaration was unconstitutional and would not have their support.
Notwithstanding, their objections, the Senate presided by the Senate President, Godswill Obot Akpabio through a voice vote overwhelmingly supported the president’s move, shutting down an open debate on the matter.
Senator Dickson expressed his gratitude to colleagues who supported his stance and acknowledged the presidency’s modifications to the original declaration. However, he emphasized that the introduced oversight mechanisms did not address the core constitutional concerns.
Dickson also criticized Senate President Godswill Akpabio, accusing him of attempting to silence opposition. “The Senate is a meeting of equals, and no lawmaker should be censored for speaking on national issues,” he stated.
The walkout by the three senators highlights the deepening divisions within the Nigerian Senate and raises concerns about the implications of the state of emergency on the country’s democratic institutions.
Rugby School Nigeria, the newest international school of the esteemed Rugby School Group, is set to open in September 2025 in Eko Atlantic City, Lagos.
To celebrate this significant milestone, an exclusive launch event was held at the British Deputy High Commissioner’s residence in Lagos, attracting over 100 distinguished guests and key stakeholders from the education, government, business sectors, and diplomatic communities.
At the official launch event on March 19, 2025, the British Deputy High Commissioner, Mr Jonny Baxter highlighted the significance of Rugby School Nigeria stating:
“Rugby School Nigeria exemplifies one of the best of UK-Nigeria collaborations, bringing another world-class British education institution to the heart of Lagos. Situated in the dynamic Eko Atlantic City, a symbol of Nigeria’s ambition and innovation, this school is poised to further shape future leaders in a rapidly evolving global landscape.”
Rugby School Nigeria will initially open its doors for Sixth Form students (ages 16-18) in September 2025, with boarding facilities set to be available from September 2026. The Senior School (ages 11-16) will launch in September 2026, offering a broad and engaging curriculum that prepares students for IGCSEs and future academic success.
Founding Principal of Rugby School Nigeria, Dr Adam England expressed his enthusiasm:
“Rugby School Nigeria will offer an exceptional education that nurtures both intellectual growth and character development guided by the Rugby School ‘Whole Person, Whole Point’ philosophy. Students will benefit from a comprehensive A-Level programme, preparing them for top universities worldwide, alongside the Rugby 360 programme, which fosters leadership, community engagement, and personal development.
Our state-of-the-art facilities will include science labs, creative arts spaces, and world-class sporting facilities.”
Founded in 1567, Rugby School is one of the world’s most prestigious UK boarding schools, renowned for its commitment to academic excellence, innovation, and character development. With established sister schools in Thailand, Japan, and now Nigeria, Rugby School continues to expand its global impact, offering transformative educational experiences to students worldwide.
Dr England added, “We are excited by the substantial interest we have already received, with numerous parents’ meetings taking place daily at our offices.”
-
News4 days agoBill to establish National Cashew Production and Research Institute in Kogi passes first reading in Senate
-
Security1 week agoNigerian Coast Guard: Citizens warned against extortion as passage of bill is being awaited
-
Politics1 week agoRetired military officer, colonel Gbenga Adegbola, joins APC with 13,000 supporters
-
Politics1 week agoCPDPL accuses Adeyanju of orchestrating smear campaign against FCT Minister Wike
-
News4 days agoShehu Sani debunks Governor Uba Sani’s alleged diversion of LG funds, challenges El-Rufai to publicly tender evidence
-
News4 days agoReport of attack on Wike’s Port Harcourt residence false, misleading – Police
-
News3 days agoPlateau gov’t expresses concern over violence in Shendam LGA, calls for calm
-
Sports5 days agoMerino gives Arsenal win over Chelsea