The Nation Newspaper

Tag: financial

  • Senators seek UI’s financial statements

    Senators seek UI’s financial statements

    The Senate Committee on Education has given the management of the University of Ibadan (UI) two weeks ultimatum to explain the financial activities and budgetary implementation of the institution in the last one year.

    The committee, chaired by Senator Uche Chukwumerije, gave the order yesterday during its visit to the university as part of its oversight function.

    Chukwumerije, who noted that there were grey areas in the presentation of the school’s financial activities, added that clarification would help the committee in the discharge of its duty.

    He said: “We express deep commitment to the growth of education, especially tertiary education in Nigeria. It is in this respect that we embarked on a visitation of this institution.

    “We need clarification on the grey areas on the financial activities and welfare of the school.

    “The clarification, which must be forwarded to us within two weeks, touching on funding, will give us insight into areas where the university needs help.”

    Chukwumerije cited what he described as inconsistency in the recurrent expenditure submitted to the committee by the university authorities.

    “There are also grey areas on Internally Generated Revenue. Information on other sources of revenue, such as intervention funds, loans and grants. The international school and the zoo have not been captured in the document.”

    Committee member Senator Oluremi Tinubu insisted that the institution should shed light on its IGR.

    She said: “My worry is the money appropriated for overhead in the school. I’m not impressed with the condition of the zoo. UI Zoo should be the pride of the nation.

    Also, Senator Abubakar Bagudu said: “We have been to other universities in the country.

    “The IGR for some universities like Ahmadu Bello University and University of Lagos are much more higher.

    “No revenue was declared by the university on hostel accommodation charges to students. We want more information on revenue from students’ registration and other issues.”

    The Acting VC, Prof. Arinola Sanya, said: “The details of the telephone, stationery etc shall be transmitted to you as requested.

    “The zoo is supposed to be a huge source of revenue but we don’t have many animals. Many people are donating animals to us after the flood in the state. During the August 26 flood, some animals were washed away.

    “In the area of social responsibility, the university is being consulted by organisations on several areas of collaboration, especially in the area of channelisation.”

     

  • National Assembly’ll grant councils financial autonomy, says Tambuwal

    House of Representatives’ Speaker Aminu Tambuwal yesterday said the National Assembly is determined to guarantee the financial autonomy of local governments.

    He said the running of local government councils by caretaker committees in Imo State is unacceptable.

    Tambuwal spoke in his office while receiving the leadership of the Association of Local Governments of Nigeria (ALGON).

    He said Imo State Governor Rochas Okorocha must respect the law and democracy that put him in office by doing the right thing.

    The speaker said: “I am appealing to the Imo State Governor to please respect the rule of law. If it is about might and power, I am sure he is not the strongest personality in the state.

    “But God, in His infinite wisdom, has made him governor through an electoral process put in place by law. He should, therefore, respect that law and do the right thing.

    “What is happening in Imo is unacceptable and I join other Nigerians to plead with him to respect the laws of the land and do the right thing.”

    He accused state governments of subverting the constitution with the way local councils are run.

    Tambuwal said: “The intent of the framers of the constitution on the local government structure has been defeated, as the structures are not what they ought to be.

    “Federal lawmakers are determined to correct the anomaly through constitutional amendment. Section 7 has clearly guaranteed the existence of democratically elected local government councils.

    “Many states have been paying lip service to that particular section of the constitution, but the National Assembly is trying to tie that particular provision to the release of funds to undemocratically installed caretaker committees.

    “This is because it is not within the contemplation of the law, even if the House of Assembly passes a legislation to support it. For as long as it is not consistent with the provisions of the constitution, we know clearly that such law is null and void.

    “The two chambers of the National Assembly are seriously considering passing this amendment to the constitution to guarantee the financial autonomy of local government councils.

    “The bill intended to guarantee the financial autonomy of the local councils has passed the second reading in the House of Representatives.”

    Tambuwal urged local government administrators to educate governors, state lawmakers and Civil Society Organisations (CSO) on the need to constitutionally liberate the local councils.

    He warned Houses of Assembly against passing laws that create caretaker committees and urged ALGON and Nigerians to contest such laws in court.

    ALGON Chairman Uzor Nwabueze decried the undue interference in council affairs by governors.

    He advocated the abrogation of provisions relating to Joint State and Local Government Accounts.

  • Activist calls for financial update on Ondo resources

    Akure lawyer, Mr. Morakinyo Ogele, yesterday called for detailed information Ondo State’s finances since the inception of the Olusegun Mimiko administration.

    The activist said he was acting on under Section 1 (1) [2] of the Freedom of Information Act 2011, which gives every Nigerian the right to have access vital information and documents that concern the people.

    In a letter to the Ministry of Finance, Ogele said since the ministry had a copy of the letter, it should explain the financial standing of the state within seven days.

    The letter said the government should give details of how it spent the N600million budgeted for the local government creation in the state.

    Others are: Kaadi Igbe Ayo, for which N2.7billion was spent; the N38billion left by the ousted Peoples Democratic Party (PDP) administration under Dr Olusegun Agagu; a N50billion loan from a local bank and bound market.

    Ogele is also demanding explanations on the following: “The N61.3billion budgeted for the Ondo State Oil Producing Areas Development Commission (OSOPADEC); N200million Arigidi-Akoko Tomato Industry, allegedly converted to a pure water factory; N7billion palm tree seeding, allegedly dumped at Ore and Bagbe; and N2.7billion, allegedly spent on the construction of a Dome in Akure, the state capital.

    The lawyer noted that the residents were suffering from the financial recklessness of the LP administration, led by Dr Olusegun Mimiko.

    He threatened to mobilise the people to demonstrate peacefully against the alleged misappropriation of the state fund, if the government refused to give details on how it utilised the state’s resources.