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Tag: Kemi Adeosun

  • FEC approves N2.328bn for patrol vehicles, housing

    FEC approves N2.328bn for patrol vehicles, housing

    The Federal Executive Council (FEC) on Wednesday approved N2.338 billion for purchase of operational vehicles for anti-smuggling task force and staff accommodation.

    This was disclosed by the Minister of Finance, Kemi Adeosun, at the end of FEC meeting chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.

    According to her, the approvals were given based on two memos she presented on behalf of the Nigeria Customs Service (NCS).

    She said N1.2 billion was approved for acquiring bedroom units at Lifecamp in Abuja for NCS and N1.128 billion for 50 operational vehicles for anti-smuggling task force.

     

     

  • Panel recommends Gwarzo’s dismissal from public service

    Panel recommends Gwarzo’s dismissal from public service

    …Adeosun lacks powers to suspend me – SEC chief

    The Administrative Panel of Inquiry has recommended the dismissal of the suspended Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, from the public service

    The panel headed by the Permanent Secretary of the Federal Ministry of Finance, Mahmoud Isa-Dutse, also recommended that the suspended SEC chief be referred to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for further investigation of the alleged use of his position to influence the award of contracts to Outbound Investments Limited.

    The panel report which has been submitted to the Minister of Finance, Kemi Adeosun, directed Gwarzo to refund N104,851,154 being the severance package he approved for himself and received.

    It noted that Gwarzo’s holding of the SEC director-general’s position and that of director in two private companies (Medusa Investment Limited and Outbound Investments Limited) was a breach of public service rule 030424, public service rule 030402 and Section 6 of the Investment and Securities Act, ISA 2007.

    Meanwhile, the suspended SEC chief has insisted that the minister lacks the power to suspend him from service.

    In a statement issued on his behalf by one Naif Abdussalam  Gwarzo argued that only the President can remove him from office.

    He said: “The appointment into office or removal from office of the Director General of SEC is a power strictly resident with the President of the Federal Republic of Nigeria. This is evident from the provisions of Sections 5 & 8 (1 & 2) of the ISA 2007. The minsters role is only limited to making recommendations to the President.”

    He argued that his letter of appointment as the SEC DG specifically referred to the Investments and Securities Act (ISA) 2007, an Act of the National Assembly, as the law governing the conditions of service.

    “Thus all actions relating to my appointment must be in compliance with the ISA as anything outside same would amount to a nullity,” he added.

     

  • FG to increase salaries of NCS officers – Minister

    FG to increase salaries of NCS officers – Minister

    The Minister of Finance, Kemi Adeosun, has promised to ensure salary increase for officers and men of the Nigeria Customs Service ( NCS ).

    Adeosun made the promise at the celebration of International Customs Day at the Customs Command and Staff College Gwagwalada, FCT on Friday in Abuja.

    The theme of the event was “A secure business environment for economic development’’.

    The minister was represented by the Ministry’s Director of Finance, Mrs Oladudumi Biosola.

    Adeosun urged officers of the NCS to put in more efforts to rise above target in revenue drive.

    She said that security of trade environment was central for business to proper, adding that security aspect of Customs role was as important as its revenue role.

    “The theme of this year Customs day coincides with the current ease of doing business initiative of the Federal Government.

    “We understand that the initiative is already yielding dividends based on the fact that we have improved by 24 points in the World Bank ranking system,’’ Adeosun said.

    She commended the NCS for its remarkable success in ensuring national security in the past years.

    According to her, seizure of arms .and ammunitions at the seaports were the possible indications that the Service is alive to its responsibilities.

    The minister also pledged to give the NCS the required support to succeed.

    The Comptroller-General of Customs, retired Col. Hameed Ali, said that the Service had made steady progress in automation of its processes.

    The Comptroller-General said in addition to these were other reforms aimed at ensuring a secured business environment.

    Ali said that other ongoing reforms in the Service were repositioning it through strategic deployment, training and automation of Customs processes.

    He said that clearance process through Pre-Arrival Assessment Report (PAAR), fast track facility for compliant traders and the post clearance audit were aimed at reducing clearance time and cost.

    “The minister has been working diligently on how to see the welfare of the NCS improves.

    “We are presently working on the computation of figures and she is waiting for that figure.

    “As soon that is made available, then, the decision between her and Mr President will determine what Customs gets.

    “I assure all Customs officers that between the minister and the President, both are all ready to see that there is an improvement in welfare of NCS,’’ Ali said.

    The Customs boss urged Nigerians to support indigenous businesses by patronising made in Nigeria goods to encourage local production and boost industrial base.

    NAN

  • Adeosun urges AfDB to help mobilise resources

    Adeosun urges AfDB to help mobilise resources

    The Minister of Finance, Mrs. Kemi Adeosun, has called for strong and well capitalized African Development Bank (AfDB) capable of fulfilling its commitments to member-countries.

    A statement signed by the Special Adviser on Media and Communications to the Minister, Mr. Oluyinka Akintunde, said Adeosun made this call at the Regional Consultative meeting between the AfDB President, Dr. Akinwunmi Adesina and the Bank’s Governors and Ministers of Finance from West Africa and Central Africa held recently in Abidjan, Côte d’Ivoire.

    The meeting was the first consultation of its kind since the creation of the Bank in 1963.

    The statement said: “The Nigerian minister stated that a solid AfDB was required to assist African countries to mobilise their internal resources.”

    “At the height of the crisis that shook our economy due to the fall in oil prices, the AfDB provided us with substantial budget support, while other partners were very reluctant.”

    On his part, Adesina told the Bank Governors that the annual meeting had hitherto been the only setting for group dialogue between the Governors and the management of the Bank.

    “We intend for this type of consultation to be an annual event that provides another opportunity to listen to you, to seek your advice and discuss important developments and matters important to the work of the Bank and Africa’s development,” he stated.

    G

  • Fed Govt to examine revenue losses to FCT

    Fed Govt to examine revenue losses to FCT

    The Federal Government has agreed to look into claims of surrounding states losing revenues to the Federal Capital Territory (FCT), Abuja.

    Minister of Finance, Mrs Kemi Adeosun made the offer yesterday when she received the Niger State Governor, Alhaji Mohammed Bello in her office in Abuja.

    Adeosun lamented that losing N1 billion monthly to the FCT was a significant loss to the state governments, and assured that it was “genuine and regrettable mistakes that the Federal Government will try to rectify.”

    Mrs Adeosun promised to refer the governor’s claims of a billion loss monthly to the Accountant General of the Federation (ÀGF) for reconciliation with the information provided by the state governments.

    She said: “N1 billion a month is a lot of money, however, this is not unique to Niger State and FCT, other states are experiencing the same thing. Taxes are paid where people reside and not where they work.”

    She  was however  quick to inform the governor that her office will only look at claims emanating from payrolls linked to the office of the AGF. The minister advised the governor to take claims from other government agencies such as the Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS) and diplomatic missions to these bodies for clarification.

    Earlier, Bello had lamented that while the state generates N400 million monthly internally, “the amount being lost monthly by the state is over N1.3 billion which is over N15.3 billion every year. This could be used to improve the lives of Niger State residents in the areas of health care, education, water and social services and job creation.”

     

    He reminded the minister that “under the Personal Income Tax Act, Section 41, taxes should be remitted to the state in which a person resides. This is known as the Residency Rule.”

    “By remitting the taxes of Niger State residents to FCT, the hardworking residents of Niger State are being deprived of essential services such as schools, hospitals and good roads, as such, the funds available to Niger State government are incomplete and thus development needs cannot be met”.

    Bello said the state has undertaken its research and presented claims for taxes deducted from salaries of civil servants, paid by the office of the Accountant General under the IPPIS, and wants these taxes remitted to the state government hence forth.

    He also appealed to Mrs Adeosun to look into the issue of arrears as some residents have lived in Niger and worked in the FCT for over 10 years.

    Bello equally pleaded with employers in the private sector especially banks, telecoms operators, consultants and construction companies and the diplomatic community to update their payroll records  and ensure that taxes deducted from those resident in Niger State are remitted to Niger State government

    The state’s Internal Revenue Services  he said has been fortified and can issue both receipts and tax clearance certificates seamlessly.

  • Reps to Adeosun: Maintain status quo on SEC

    Reps to Adeosun: Maintain status quo on SEC

    The House of Representatives has asked the Minister of Finance, Kemi Adeosun to reinstate the suspended Director General ( DG ) of the Securities and Exchange Commission ( SEC ), Munir Gwarzo.

    The House directed that status quo be maintained until the outcome of its investigation to be carried out by its Committee on Capital Market & Institutions within two weeks.

    The decision of the House followed the adoption of a motion of urgent national importance by Diri Duoye (PDP, Bayelsa), who noted that the conflict between Minister of Finance, Kemi Adeosun and the suspended DG, Munir Gwarzo over Oando Forensic Audit and corruption allegation were major factors in the events that led to the suspension.

    He said: “The conflict has led to the suspension of the DG, SEC alongside Head Legal Department and Head Media on the 29th November, 2017. It has also led to the setup of an Administrative Panel of Inquiry and appointment of Ag DG by the Minister of Finance.

    “It worthy of note that the conflict has been allegedly lingered for several months between Ministry of Finance and Securities and Exchange Commission but the matter of disagreement brought it into the public domain.

    “It is however observed that there are allegations of interference by the Ministry of Finance in the discharge of responsibility by SEC particularly, the Oando Forensic Audit matter, which was largely responsible for the DG’s suspension

    “In addition to that, the intervention by the House will put the matter into proper perspective and amicable resolution of the conflict in order to protect the image of the Securities and Exchanges Commission in the interest of both local and foreign investors”.

    In his contribution, Toby Okechukwu (PDP, Enugu) said whatever us happening now was reminiscent of what happened before the collapse the sector in the past.

    “What is happening in SEC is symptomatic of the collapse of capital market. I wouldn’t know why infractions should be swept under the carpet.

    “The Nigerian people should be told why the infractions of Oando will be swept under the carpet. Nigerians should know why the minister cannot be investigated.

    “Nigerians should know why the DG was sacked. A total panel of inquery is needed in SEC”, he said

    Sani Kaita (APC, Katsina) said: “SEC is very sensitive and very important to Nigeria and international community. Should we allow the investigation to go on without knowing what happened?”

    The motion was unanimously adopted after it was put to a voice vote by the Speaker, Yakubu Dogara.

    However, in a statement by SEC’s Head of Corporate Communications, Bagudu Waziri, an audit forensic exercise into the activities of Oando Plc would be conducted.

    Waziri made this known in a letter dated December 5, addressed to Oando Plc, stating that, “The Commission wishes to assure the general public of its zero tolerance to infractions in the Nigerian Capital Market”.

  • Maina was not on government payroll- Adeosun

    Maina was not on government payroll- Adeosun

    …Maina’s lawyer insists on out of court settlement

     

    The Minister of Finance, Kemi Adeosun and the Accountant General of the Federation (AoGF), Ahmed Idris said Maina was not on the payroll of the Federal Government.

    The two said records on the two payment platforms used by the government for its workers have been scrutinised and Maina was found to have been paid last in February 2013.

    “We used two platforms for salaries and no trace of payment to Maina. His last payment was in February 2013.

    “We don’t have his biodata on our payroll anymore and made no payment to him. He is also not a staff on Finance Ministry,” Adeosun said

    The Comptroller General (CG) of the Nigerian Immigration Service ( NIS ), Mohammed Babandede said since Maina was stopped at Murtala Mohammed International Airport (MMIA) in September 2013, he has not been seen again using Nigerian ports.

    He also disclosed that Maina has dual citizenship with three passports, valid standard Nigerian passport that expires in 2018, United States’ (US) that expires in 2022 and an official passport that has expired.

    He said Maina was placed on NIS stop list which was why he was stopped in 2013 but that in December 2015, the EFCC directed he be removed from stop list.

    “According to official documents he has not been travelling since 2013,” he said.

    Acting Economic and Financial Crimes Commission (EFCC) chairman, Idris Magu denied the letter vacating the stop order, saying he has never seen it in his life, just as he has never met Maina before.

    He said the source of the letter will be investigated because he assumed office in November 2015 while the stop order vacation letter was written in December same year.

    He told the Committee that investigation of pension began in 2010 but that his Commission had no collaboration with the Maina’s team, except for a biometric exercise.

    “He did not hand over a single recovered asset to EFCC, and if there is no asset he handed over to, how could there be assets to share?

    He said: “I challenge him or anyone to prove that we shared recovered assets. Those claiming such should come forward to prove it.

    “All recovered assets at EFCC are products of our independent investigations and they were Police pension and HoCSF.

    “From Police pension eight people and associated companies were investigation while HoSC has five and associated companies investigated.

    “All assets recovered from HoCSF on interim forfeiture have been handed over while some are used as offices.

    “It is only the asset of one Yusuf that has been convicted that’s been permanently forfeited and they are 32 in number.

    “All proceeds on the forfeited assets as rents are duly documented

    “Maina’s assets that we recovered were seven in Kaduna, five in Abuja- two in Kado, two in Life camp and a sprawling one in Jabi”.

    He said EFCC is investigating four companies used by Maina with six bank accounts that have N2.7b from 2008 to 2013.

    According to him, one of Maina’s son account that has
    N1.5b turnover within a year was also uncovered.

    He said Maina used cash converted to forex exchange for transactions most of the time, adding that he paid $2m cash for the Jabi house.

    He said having declared Maina wanted, the Interpol has been alerted for his arrest.

    The Director General ( DG ) of the Department of State Services (DSS), Mamman Daura said he was notified of the Dubai meeting between Maina and the AGF with the National Security Adviser’s (NSA) , Babagana Monguno in attendance.

    He however heaped the blame of the Maina saga on lack of interagency collaboration and information sharing.

    However, when Chairman of the Committee was set to round up the hearing, Maina’s lawyer, Sani Katu protested that he has been denied fair hearing.

    “We must be heard, that is what they did to us in the Senate, they boxed us into a corner, we must be heard,” he shouted.

    Madaki said no one would be denied to speak, saying the Committee would not allow rented crowd to disrupt it’s activities.

    Katu then reiterated the fact that Miana was reinstated by the Court judgement that vacated his arrest order, that the status quo should remain.

    He insisted that Maina is still on the payroll of the government going by the court pronouncement and should be be paid his emoluments.

    He said Maina should not have been dismissed from service going by the pronouncement of the court

    He also said out of court settlement was reached by the two parties where it was agreed that Maina would be reinstated while he will drop the N2.1b claim he asked for in the suit.

    He said:”The Court reinstated him which means he should revert to his status and his emoluments paid to him

    “There is a judgment from the Federal High Court that sets aside the Warrant of Arrest, that sets aside the warrant of arrest which led to his query and subsequent dismissal.

    “So our position that having set aside all those queries and dismissal, it means Mr. Abdulrasheed Maina should revert back to his earlier status and what is that earlier status?

    “The status is that, before he was dismissed, he was a civil servant and being a civil servant, the question can as well be raised if he is entitled to salary and the answer is yes, that as a federal civil servant, he entitled to his salary.

    “At one point, efforts were made to calculate his salaries from March 2013 till date, perhaps if not for what has happened now, they would have paid him salary in October.

    “So, we are talking on the premise of the dictates of the law and the law is made up facts and the facts are contained in the judgement of the Federal High Court,” he said.

    While adjourning the hearing indefinitely (sine die), Madaki warned that it was the duty of the House to prevent impunity in government.

  • FG slashes import, export documentation requirements

    FG slashes import, export documentation requirements

    The Minister of Finance, Mrs Kemi Adeosun says the Federal Government has reduced documentation requirements for import and export, to facilitate trade.

    Adeosun made this known on Thursday in Lagos at a Sensitisation Workshop with the theme: “Understanding Nigeria’s Revised Import and Export Guidelines, Procedures and Documentation Requirements for Ease of Doing Business’’.

    According to the minister, the measures include the reduction of documentation requirements from 10 to seven, for exports and from 14 to eight, for imports.

    Adeosun, who was represented by the Director, Home Finance, Federal Ministry of Finance, Mrs Olubunmi Siyanbola, said that additional responsibilities had been given to the Nigeria Customs Service ( NCS ), the Nigerian Ports Authority (NPA) and the shipping lines/other carriers.

    Reports say that government’s attention is principally focused on measures to ensure reduction in time spent on processing of export and also to ensure 24-hour clearance of cargo imported into the country.

    The minister announced that the NCS shall coordinate the mandatory joint examination and Sign-Off Form, within the official working hours, including Saturdays.

    “NCS shall make available the shipping manifests to other examination agencies as soon as they are received, to enable enough time for Risk Assessment.

    “Nigeria Integrated Customs Information Systems (NICIS) should be strengthened to accommodate more agencies.

    “Shipping lines shall transmit to the NCS and the Nigerian Ports Authority (NPA), the cargo manifest, before leaving the last Ports of Call to Nigeria.

    “Shipping lines shall ensure that Nigeria-bound containerised cargo are palletised,’’ Adeosun said.

    The minister said that a new section had been introduced, which stated that the NPA shall receive cargo manifests from shipping lines before the ship leaves the last Port of Call and circulate to other regulatory agencies for Risk Assessment and Profiling.

    Adeosun said that NPA shall be responsible for traffic management of vessels and shall ensure pilotage of vessels.
    The minister commended the efforts of President Muhammadu Buhari toward ensuring the Ease of Doing business, which had started yielding dividends in some areas.

    According to her, in the recent World Bank report, Nigeria had moved up 24 points from 169th position on the 2017 ranking and also 170th position on the 2016 ranking to 145th position in the World Bank’s 2018 report.

    “That is, Nigeria is now in 145th position out of 190 countries in the Ease of Doing Business Index for 2018,’’ she said.
    Adeosun said that government was working relentlessly to quickly put in order the scanning system, so as to eliminate manual examination of goods and other associated delays.

    She said that the Export and Import Guidelines would be fully implemented with effect from January 1, 2018.

    “The Guidelines may not be perfect to address all concerns but government will monitor its implementation closely, to address emerging and unforeseen situations,’’ the minister said.

    In a welcome address, the Permanent Secretary, Federal Ministry of Finance, Dr Mamoud Isa-Dutse, urged business entities involved in both import and export trading to abide by the provisions of the guidelines.

    The permanent secretary was represented by the Director of Information, Federal Ministry of Finance, Mr Salisu Nainna.

    “Let our efforts in striving to create a lucrative business environment in Nigeria be mutually-reinforcing, to enable us as a country make significant progress.

    “We are duty-bound to foster formal trade not only to block loopholes for leakages of government revenue but also to promote the growth of Micro, Small and Medium Enterprises, so as to enhance the competitiveness of the economy for our business to continue to prosper.

    “The present government is taking steps toward ensuring 24-hour clearance of cargo using cutting-edge technology.

    “In this direction, efforts are ongoing to revive and upgrade the scanning system as a short-term measure, pending the acquisition of modern High Definition Scanners,’’ Isa-Dutse said.

    He said that the Ease of Doing Business had improved Nigeria’s performance in terms of trading across borders, with the introduction of Presidential Enabling Business Environment Council (PEBEC).

    The permanent secretary said that the guidelines had taken into account the directives of the Vice President and there was that inherent potency to facilitate trade without compromising the interest of the national economy.

    Isa-Dutse said that the objective of the workshop could be achieved if stakeholders were properly informed about procedures, rules and regulations, as well as modalities for their implementation and enforcement.

    Dr Jumoke Oduwole, the Senior Special Assistant to the President on Industry, Trade & Investment, urged the private sector to cooperate with the Federal Government in the reform initiatives.

    “We ask that stakeholders should refrain from circumventing policies, as we strive to implement initiatives and reforms needed to scale up the efficiency and transparency of the public sector, ’’ Oduwole said.

    “We invite you all to give us your candid feedback on how our reforms are working in practice, as we collectively strive to make Nigeria an easier place in which to do business,’’ she said.

    Oduwole was represented by Mr Jude Oboh, Reform Leader at the Enabling Business Environment secretariat.

    Mr Tony Ayalogu, a Deputy Controller of Customs, stressed the importance of palletisation of cargo, saying that it protected goods from any form of damage.

    Ayalogu said that a standard palletised cargo could carry a maximum cargo of 100 kg.

    He urged Nigerians to ensure compliance with policy on palletisation of containerised cargo coming into the country, to make the Customs work seamlessly and to reduce the time of doing business.

    NAN

  • Finance ministry denies paying Maina salary after disengagement

    Finance ministry denies paying Maina salary after disengagement

    The Minister of Finance, Mrs Kemi Adeosun, on Thursday said the former Chairman, Pension Reform Task Force, Alhaji Abdulrasheed Maina, did not receive salary from government after his disengagement.

    Adeosun said this in Abuja when she appeared before members of House of Representatives Ad hoc Committee investigating the disappearance, re-appearance, re-instatement and promotion of Maina.

    She said that from the records of the ministry, there was no trace of any payment of salary to Maina after he was disengaged from service in 2013.

    “We have looked very well and we have no biometrics of Maina, so there is no way he could have received salaries,” Adeosun said.

    In his submission, the Accountant-General of the Federation, Mr Ahmed Idris, said that Maina was last paid salary in February, 2013.

    According to Idris, from March, he was removed from the payroll so I don’t know where he was receiving the salary.

    “If there was any payment of salary to Maina, there should be payslips and an account the payments were made; so, let whoever made the claim tender them to support the claim,” Idris said.

    Counsel to Maina, Mr Muhammadu Kuta, had while before the committee on Nov. 23 claimed that his client received salary up to October, 2017.

    According to Kuta, assignments were still being given to him to execute for the Federal Government even as at last month and he was getting his salary.

    NAN