- Lawmakers reject electricity tariff hike
The House of Representatives yesterday resolved to investigate the Central Bank of Nigeria (CBN) over allegations of mismanagement of funds and non-disclosure of details of interest on investment from the Excess Crude oil, petroleum profit tax, and royalty account.
The lawmakers rejected the planned increase in electricity tariffs.
They might also consider a fresh application to appeal the International Court of Justice (ICJ) judgment that ceded Bakassi to Cameroon.
Adopting a motion by Esosa Iyawe, the House asked the CBN to disclose all the interests and principal sums on the investments in the Excess Crude Oil/Petroleum Profits tax/Royalty Account to the Auditor-General for the Federation’s Office.
Iyawe said despite being the Federal Government’s Banker and custodian of investment vehicles of the government, the CBN had not been able to disclose the interest in Petroleum Profits Tax (PPT) and the Excess Crude Account (ECA), among others.
He accused the CBN of flagrantly and consistently refusing requests by the Auditor-General for the Federation to disclose the details regarding the management of interests accruing from the Petroleum Profit tax (PPT)/Royalty and Foreign Excess Crude Account.
He expressed concern about reports that revealed unapproved and indiscriminate withdrawals from the ECA, including current-year expenditures, fuel subsidies, debt financing and power projects, all of which are outside the fund’s mandate.
The Reps Ad hoc Committee on International Boundary Dispute Between Nigeria and Cameroon said it might push for an appeal of the ICJ judgment that ceded Bakassi to Cameroon following the possibility of the loss of more territory.
The Ad hoc Committee was set up by the House to probe the case of encroachment into another Cross River State territory by Cameroon.
The Danare and Biajua communities and about 7,000–10,000 hectares of land in the Boki Area of Cross River State risk being lost to Cameroon according to a motion by lawmakers from the state last week.
The lawmakers, in the motion that was presented by Hon Victor Abang, had said this was a result of the non-location of pillar 113A by the technical committee of the Cameroon- Nigeria Mixed Commission.
The potential loss of this second Cross River State territory also has its basis in the same 2002 judgment that ceded Bakassi.
The House also urged the National Electricity Regulatory Commission (NERC) not to approve any increase in electricity tariff in Nigeria.
It mandated the Committee on Power (when constituted) to interface with NERC to find a common ground for addressing the proposed hike in the interest of Nigerians.
Also yesterday, the lawmakers resolved to improve the welfare package for members of the Armed Forces by full Implementation of the Manual of Financial Administration for the Armed Forces of Nigeria (MAFA) 2017.
The House said the request by the Armed Forces would be included in the 2024 budget estimate to ensure adequate resources are allocated for the welfare of its personnel.
The House urged the Nigerian Maritime Administration and Safety Agency (NIMASA) (for the coastlines) and National Inland Waterways Authority (NIWA) (for the Inland Waterways) to tackle the menace of incessant boat/watercraft mishaps in Nigerian coastal lines and waterways.