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  • INEC submits revised 2019 election budget to National Assembly

    The Independent National Electoral Commission (INEC) yesterday submitted a revised 2019 election budget to the National Assembly for consideration and approval

    The submission of the reviewed budget was in compliance with the directive of the National Assembly joint committee on electoral matters that the electoral body should rework its 2019 election budget based on the N143.5 billion the committee adopted for consideration.

    The electoral umpire had before the adoption of the N143bn pressed for the approval of N189 billion for the elections.

    President Muhammadu Buhari had requested the National Assembly to approve through a virement the sum of N143.5 billion for the conduct of the 2019 elections.

    The President added that the balance of N45.6billion out of a total of N189 billion he presented will be inserted and approved in the 2019 national budget for INEC.

    The joint committee after about two weeks of consideration of requests adopted the N143billion as sought by President Buhari with the explanation that the presidential letter was explicit that the N45.6billion difference was to be provided for in the 2019 budget.

    Chairman of the joint committee, Senator Suleiman Nazif who announced the compliance of INEC to its directive, noted that the electoral body had sent a reviewed budget to the committee within the ambit of N143bn as directed.

    Nazif also said that a sub-committee was set up to look into the details of the new budget submitted by INEC.

    The sub committee, he said, is expected to complete its assignment today and submit it’s report for consideration by 4pm (Wednesday).

    A member of the committee, Senator Aliyu Sabi Abdullahi gave said that the committee was determined to urgently complete work on the election budget.

    Abdullahi denied insinuation that the committee was deliberately slowing down the process of the consideration of the INEC budget to frustrate push to make the National Assembly to reconvene.

    Abdullahi who is also Chairman, Senate Committee on Media and Public Affairs, explained that part of the reason for setting up the sub-committee was to speed up the legislative processes for final approval of the election budget.

  • INEC submits revised 2019 election budget to National Assembly

    The Independent National Electoral Commission (INEC) on Tuesday submitted a revised 2019 election budget to the National Assembly for consideration and approval

    The submission of the reviewed budget was in compliance with the directive of the National Assembly joint committee on electoral matters that the electoral body should rework its 2019 election budget based on the N143.5bn the committee adopted for consideration.

    The electoral umpire had before the adoption of the N143bn pressed for the approval of N189 bn for the elections.

    President Muhammadu Buhari had requested the National Assembly to approve through a virement the sum of N143.5 bn for the conduct of the 2019 elections.

    The president added that the balance of N45.6bn out of a total of N189 bn he presented will be inserted and approved in the 2019 national budget for INEC.

    The joint committee after about two weeks of consideration of requests adopted the N143bn as sought by President Buhari with the explanation that the presidential letter was explicit that the N45.6billion difference was to be provided for in the 2019 budget.

    Chairman of the joint committee, Senator Suleiman Nazif who announced the compliance of INEC to its directive, noted that the electoral body had sent a reviewed budget to the committee within the ambit of N143bn as directed.

    Nazif also said that a sub-committee was set up to look into the details of the new budget submitted by INEC.

    Read Also: APC accuses INEC of leaking its official correspondence

    The subcommittee, he said, is expected to complete its assignment today and submit it’s report for consideration by 4pm (Wednesday).

    A member of the committee, Senator Aliyu Sabi Abdullahi gave said that the committee was determined to urgently complete work on the election budget.

    Abdullahi denied insinuation that the committee was deliberately slowing down the process of the consideration of the INEC budget to frustrate push to make the National Assembly to reconvene.

    Abdullahi who is also Chairman, Senate Committee on Media and Public Affairs, explained that part of the reason for setting up the sub-committee was to speed up the legislative processes for final approval of the election budget.

  • Supreme Court must declare Saraki, others’ seats vacant, says Arise

    The Attorney General and Minister of Justice, Abubakar Malami, has been urged to approach the Supreme Court on the need to declare the seats of Senate President Bukola Saraki and other defecting senators vacant.

    Former Chairman, Senate Committee on Privatisation, Senator Ayo Arise, said the executive arm of government is empowered by law to invoke Section 68 (1) g of the 1999 Constitution to declare the seats of the defecting senators vacant.

    Read Also:Saraki: I’m not bothered by impeachment threat

    Speaking on a Channels Television current affairs programme, POLITICS TODAY, monitored in Ado-Ekiti, Arise said the defection of Saraki and his followers in the Senate, without a valid reason as prescribed by the Constitution are no longer members of the National Assembly.

    Arise, who was in the Senate between 2007 and 2011, and seeking a return to the upper chamber said approaching the Supreme Court would save the country from what he called “the ongoing defection mentality which has now become a recurring practice in Nigerian politics, especially in the build up to every election.”

    According to him, the issue at stake is far beyond individual or a group of people but rather a constitutional matter in order to move the country forward.

    The former lawmaker stressed that Nigeria will forever remain underdeveloped politically, if will fail to do what is right by adhering to the tenets and dictates of the Constitution of the Federal Republic of Nigeria.

    Arise said: “Law is not a respecter of anybody and it must not be held contrary in Nigeria hence the need for the law to take its course in the latest development and set the record straight once and for all. This will go a long way at bringing sanity and sanctity into the nation’s democracy”.

    “The Supreme Court in the case between Hon. Ifedayo Abegunde and Ondo State House of Assembly and others, had unambiguously settled the issue of defections, when it defined the difference between factionalisation and fractionalisation of a political party and explained the reasons that can warrant the defection of any elected member of the National or State Assembly without suffering the consequences as stated in section 68 (1) g of our Constitution.

    “It stated that, factionalisation of a party could not have warranted any lawmaker to change his or her party but held that, factionalisation through which a Legislator can defect must be in conformity with the section 68(2) of the constitution which states that, there must be a division in the party.

    “What “factionalisation or division” means here is that, there must be a parallel executive from the national to the ward level within the affected political party before the constitutional requirements that permits defection without forfeiture of one’s seat could be met.

    “And as at today, there is no such ground in the APC to allow Saraki and others to change from the party through which they became legislators without losing their seats in the National Assembly. They could participate in a new election to fill their seats in their new parties.

    “On the possibility of having the INEC budget for the 2019 general elections passed into law because of the current face-off between the National Assembly and the Executive, Sen. Arise noted that, the constitution allows the President to spend up to 50% of previous budget proposal in the event of a delay in passing a current budget by the Lawmakers.

    “Therefore, the question of whether or not the passage of INEC budget could be an obstacle towards the conduct of 2019 general elections may not arise because the President can source for funds through some special intervention funds pending the settlement of the political imbroglio.

    “The most practical and legal solution is to follow the dictates of our Constitution and declare the seats vacant by seeking the opinion of the Supreme Court again if anyone is doubt that any judgment of the Supreme Court is the law of the land.

    “The Constitution also empowers the Executive arm of the government to enforce our laws.”

  • National Assembly joint committee okays N143b election budget

    A National Assembly joint committee has okayed the N143 billion component of the N189 billion requested by the Independent National Electoral Commission (INEC), for the conduct of the 2019 general election.

    Rising from a meeting at the National Assembly complex in Abuja yesterday, the lawmakers said they chose to adopt the N143 billion as presented to the federal legislature by President Muhammadu Buhari in July.

    Citing funding constraint, the President had, in his letter to the legislature, asked the lawmakers to first consider the N143billion and wait for the remaining N45 billion to be co-opted into the 2019 national budget.

    Going by the electoral commission’s schedule for the 2019 elections, the N143 billion ought to have hit INEC’s coffers by August 15, to meet up with a minimum of 180 days to the first round of election (February 16, 2019).

    The INEC had, during previous deliberations, pleaded with the joint committee to process the entire N189 billion at once, citing the usual delay in the passage of the annual national budget.

    But the lawmakers had countered that doing so would overshoot the 2018 budget template, saying, however, that the executive could as well present the N45 billion through supplementary budget as soon as possible.

    Speaking after a closed door session that lasted about 40 minutes, the Chairman of the panel, Senator Suleiman Nazif, called on the INEC to prioritise its expenditure schedule on the N143 billion.

    He said: “The joint committee sat and has come up with the resolution to adopt the N143 billion presented by Mr. President.

    “It is also the wish of this committee that INEC present their budget of N143 billion as requested by Mr. President.

    “Therefore, INEC has an opportunity to prioritise its expenditure on the N143 billion and this committee is ready to receive them tomorrow.

    “This committee will be reconvening tomorrow (today) by 1pm so that we can consider the presentation by INEC”.

     

  • 2019: N/Assembly joint committee okays N143bn election budget

    A National Assembly joint committee has okayed the N143 billion component of the N189 billion requested by the Independent National Electoral Commission (INEC) for the conduct of the 2019 general elections.

    Rising from a meeting at the National Assembly complex in Abuja Monday, the lawmakers said they chose to adopt the N143 billion as presented to the federal legislature by President Muhammadu Buhari in July.

    Read Also:Furore over INEC’s N198bn election budget proposal

    Citing funding constraint, the President had, in his letter to the legislature, asked the lawmakers to first consider the N143 and wait for the remaining N45 billion to be co-opted into the 2019 national budget.

    Going by the electoral commission’s schedule for the 2019 elections, the N143 billion ought to have hit INEC’s coffers by August 15, to meet up with a minimum of 180 days to the first round of election (February 16, 2019).

    The INEC had, during previous deliberations, pleaded with the joint committee to process the entire N189 billion at once, citing the usual delay in the passage of the annual national budget.

    But the lawmakers had countered that doing so would overshoot the 2018 budget template, stating however, that the executive could as well present the N45 billion through supplementary budget as soon as possible.

    Speaking after a closed door session that lasted about 40 minutes, the chairman of the panel, Senator Suleiman Nazif, called on the INEC to prioritise its expenditure schedule on the N143 billion.

    Nazif said, “The joint committee sat and has come up with the resolution to adopt the N143 billion presented by Mr. President.

    “It is also the wish of this committee that INEC present their budget of N143 billion as requested by Mr. President.

    “Therefore, INEC has an opportunity to prioritise its expenditure on the N143 billion and this committee is ready to receive them tomorrow.

    “This committee will be reconvening tomorrow (today) by 1pm so that we can consider the presentation by INEC”.

  • National Assembly committee meets on INEC’s budget

    The National Assembly Joint Committee on the Independent National Electoral Commission (INEC) will meet today to consider INEC’s budget for 2019 elections.

    This is coming against the backdrop of growing anxiety over which of the budget proposals the committee will endorse for the elections.

    The committee had announced through its Chairman, Senator Suleiman Nazif, that it will meet today to decide which of the two budget proposals, the N143billion President Muhammadu Buhari requested for in a letter sent to the National Assembly and the N189billion INEC is asking for, will be approved.

    President Buhari had in the letter to the National Assembly said of the N189billion INEC budgeted for the conduct of 2019 elections, N143billion should be approved this year through virement from the N578billion additional votes members of the National Assembly inserted in the budget, while the balance of N45.6billion would be captured for INEC in the 2019 budget.

    INEC officials at two appearances before the joint committee insisted that the entire N189billion should be approved for it for the smooth conduct of the 2019 elections.

    This led to sharp division among members of the committee across party lines, as they failed to agree on which of the requests to be approved.

    The committee chairman said in the statement: “Sequel to the ongoing consideration of the Independent National Electoral Commission, 2019 General Election Budget by the joint committees of the Senate and House of Representatives, the public is hereby informed that work on the budget is in advanced stage and in line with the mandate issued to the joint committee by the leadership of the National Assembly.

    “Equally, the joint committee deliberated on all key attributes of the budget while taking into cognisance the imperative urgency for the budget to be ready in time for the 2019 general election, hence necessitating sacrifice and selflessness from our distinguished and honourable members.

    “Furthermore, it is imperative to state here explicitly that after audacious sessions with critical stakeholders, the joint committee dissolved into executive structure and agreed to resume on August 27 (today) to consider the harmonised version of the budget report diligently.

    “More so the report of the joint committee will be made available for further and appropriate legislative action in earnest.”

    The committee at its last session on the budget, which had the Minister of Budget and National Planning, Udoma Udo Udoma and INEC Chairman, Prof Mahmood Yakubu, in attendance, could not resolve which of the requests to approve.

    While members of the Peoples Democratic Party (PDP) in the committee supported the approval of N143billion requested by President Buhari in his letter, their colleagues in the All Progressives Congress (APC) backed the approval of the N189billion INEC asked for.

    The position of the Minister of Budget and National Planning that the committee should use its discretion on the matter did not help the issue.

    The minister, who was asked for authorisation for the approval from President Buhari, noted that N189billion requested by INEC was the same amount the President wrote in the letter to the National Assembly.

    The minister said because of funding constraints, President Buhari decided to break approval for it into two fold by seeking virement for N143billion for INEC this year, while the balance of N45.6billion will be taken care of in the 2019 budget.

    He said: “Mr. President will have no objection to the National Assembly approving the entire N189billion INEC budget as long as it does not in anyway, lead to increase in the overall size of the 2018 budget.

    “If this is to be done, the N45.6billion the President in his letter proposed to be provided in the 2019 budget would also have to be vired along with the N143billion from the N578billion fund appropriated in the 2018 budget by the National Assembly for the additional 1,403 projects included in the budget.

    “Discretion on which of the requests to be approved by you now, is yours. If you approve the N143billion the President requested, it is okay and if you approve the entire N189billion for INEC this year is also alright.

    “Any of the two is okay for the executive, except that if you approve the N189billion through virement, the N45.6 billion planned to be captured in the 2019 budget would no longer be part of the budget estimates for that year.”

    There is no indication that members of the committee have shifted their positions.

    A PDP senator, who spoke on the matter, insisted that there is no way the committee will go out of its way to approve what is not requested by the President.

    An APC senator said they would insist on the approval of the N189billion INEC requested.

  • National Assembly endorses NSE demutualisation bill

    •Stakeholders await president’s assent

    Operators in the capital market have hailed the National Assembly for the passage of the bill on the demutualisation of the Nigerian Stock Exchange (NSE), describing the development as both timely and reasonable.

    They  urged President Muhammadu Buhari to speedily  assent the bill in view of what they described as its “huge benefits to the nation’s economy”.

    The bill seeks the conversion of the NSE from a company limited by guarantee to a company limited by shares.

    Titled: “An Act to Facilitate the Development of Nigeria’s Capital Market by Enabling the Conversion and Re-registration of the Nigerian Stock Exchange from a Company Limited by Guarantee to a Public Company Limited by Shares and for related Matters, 2017″ (Otherwise called “Demutualisation Bill”), it was passed by the Senate  last December 22 and the House of Representatives on February 1.

    However, following differences in the long title of the Bill, a conference committee was subsequently constituted by both chambers, the report of which was approved last May 30 and 31, by the House and Senate.

    Justifying the essence of demutualisation, NSE Chief Executive Oscar Onyema said the bill, which is awaiting presidential assent, would give the NSE the flexibility to respond to industry shifts and economic headwinds/tailwinds.

    He said it will also ensure faster and more real-time trading operations, fostering more effective competition on a global scale. Besides, it will make for better positioning for the listing of large multinationals and local corporates in Nigeria, as well as ensure better positioning to innovate, embrace market changes and meet customers’ demands.

    Onyema further said NSE’s conversion and re-registration into a public company limited by shares was essential to develop and strengthen the capital market and enhance the formation of capital for the expansion of the Nigerian economy.

    He said the move was in line with the 2015-2025 Capital Market Master Plan, stressing that the proposed demutualisation would promote efficiency in the creation and harnessing of capital, as well as creating liquidity in the market and adopting and strengthening corporate governance best practices.

    “It is anticipated that the demutualisation of the Nigerian Stock Exchange will reinforce the continuous growth and development of a dynamic, fair, transparent and efficient capital market and thus significantly contribute to Nigeria’s economic development,” Onyema said.

    Praising the courage and foresight of federal lawmakers, a Stockbroker and Managing Director, Centrepoint Investments Limited,   Emmanuel  Awure, said the bill, when functional, would result in an increased value of the NSE.

    He said the bill will enable the NSE to compete favourably in the global market, open the doors for significant investment into Nigeria and ultimately, enhance the nation’s capital market.

    Furthermore, he said: ‘’The demutualisation of the Exchange will bring the capital market at par with other international jurisdictions, result in enhanced governance, transparency and visibility whilst attracting strategic partners, investors and good quality issuers.”

    Ms Elizabeth Okolo of Capital Assets Limited Lagos, also congratulated both the Council and members of the NSE on the passage and urged President Buhari to expeditiously consider and sign the bill into law.

     

     

     

    She stressed that the demutualisation when implemented, would give the Exchange the ability to take a number of strengthening actions that will promote transparency and increase efficiency in its operations.

    “The demutualization holds a number of significant benefits for the Nigerian economy including augmentation of Nigeria’s debt profile, increase capital raising capabilities, capital support for government initiatives, attraction of foreign and local investors and assisting corporate and financial institutions to raise capital,” she added.

     

  • I won’t be distracted by defectors, opposition – Buhari

    …Says his government is focused

     

    President Muhammadu Buhari on Thursday said that the efforts of defectors and their backers in the opposition will not distract his administration from the good work it has been doing for the benefit and development of Nigeria.

    He spoke during lunch with some governors elected on the platform of the All Progressives Congress (APC), and some members of the National Assembly and Commissioners in Daura, Katsina State.

    Read Also:Buhari forecloses former DSS boss Daura’s return

    According to him, his administration is focused in delivering the 2015 campaign promises in the area of improved economy, security and fight against corruption.

    Buhari, in a statement by the Senior Special Assistant on Media and Publicity, Garba Shehu, said that the APC has the full understanding of Nigeria’s challenges and was encouraged by the support of Nigerians in addressing them.

    He said, ‘‘We are always encouraged when all our constituents are happy with the work we are doing and our genuine efforts to make sure that what we campaigned for in 2015 is still very much in our minds and we have not lost focus.

    ‘‘In terms of security, economy and the fight against corruption we have maintained focus. Even the opposition with all their resources cannot fault our identification of Nigeria’s priorities and the efforts being made to better them.

    ‘‘We will continue to do what we ought to do in the leadership position God has placed us and we thank the constituents for the support,” he added

    On the defections within the major political parties, Buhari reiterated his earlier message to them: saying ‘‘for those who have decided to change camp for whatever reason, we wish them good luck.’’

    The leader of the delegation and Chairman of the Progressive Governors Forum, Rochas Okorocha of Imo State commended the President for his great efforts in keeping the nation together through visionary leadership.

    He noted that President Buhari had remained focused and unshaken by situations and circumstances, adding ‘‘it shows that your administration is approved by God.’’

    Okorocha said ‘‘we are here to encourage you to keep doing what you are doing as Nigerians are very pleased with you.

    ‘‘We also want to inform you that we had wonderful and peaceful Sallah celebration across the country because of security of lives and property you have guaranteed in our nation.’’  he said

    Governor Okorocha was accompanied by the Governors of Katsina, Kebbi, Kano and Niger States.

  • Sagay: FG can invoke doctrine of necessity to fund 2019 election

    Presidential Advisory Committee against Corruption (PACAC) Chairman Prof Itse Sagay (SAN) on Wednesday said the Federal Government could fund next year’s general election by invoking the doctrine of necessity should the National Assembly fail to pass the budget.

    According to him, the overriding necessity of elections and survival of democracy supersede the National Assembly’s powers where democracy is threatened.

    Sagay, in a statement, said while the power to approve the budget is only a single item in the Constitution, democracy and its processes, including elections, are what the Constitution are about.

    The statement reads: “The failure or refusal by the National Assembly to approve funds for the 2019 election will constitute a sabotage of our democracy, of which the Constitution is the embodiment.

    “If elections are not held, it will mean the collapse of our democracy, leading to chaos and anarchy. The question that arises is simple.

    “Which is more critical to democracy and the survival of Nigeria: Is it (1) the power of the National Assembly to approve budgets or (2) the survival of democracy and Nigeria itself?

    “If the survival of democracy is more important and fundamental to Nigeria’s existence, then failure to approve the budget for elections will trigger the doctrine of necessity, thus compelling the funding of election without the approval of the National Assembly.

    “It is simply a question of the survival of democracy and the continued existence of Nigeria. The power of approval of budget is just a single item in the whole of the Constitution.

    Read Also: Saraki should resign as a matter of honour, says Sagay

    “On the contrary, elections and democracy which they support, constitute what the whole Constitution is about.

    “Therefore, the overriding necessity and imperative of elections and democracy simply override the power of National Assembly.

    “If the National Assembly refuses or fails to approve the budget for election, the doctrine of necessity will validate the provision of the funds without the National Assembly’s approval.”

    The National Assembly Joint Committee on the Independent National Electoral Commission (INEC) will o reconvene on August 27 to conclude work on the 2019 INEC budget submitted to it by President Muhammadu Buhari.

    Co-Chairman of the Joint Committee, Senator Suleiman Nazif, had said in a statement: “Sequel to the ongoing consideration of the INEC 2019 General Election Budget by the joint committees of the Senate and House of Representatives, the general public is hereby informed that work on the budget is in advanced stage and in line with the mandate issued to the joint committee by the leadership of the National Assembly.

    “Equally, the joint committee deliberated on all key attributes of the budget while taking into cognisance the imperative urgency for the budget to be ready in time for the 2019 general election hence, necessitating sacrifice and selflessness from our distinguished and honourable members.

    “Furthermore, it is imperative to state here explicitly that, after an audacious session with all critical stakeholders, the joint committee dissolved into executive structure and agreed to resume on 27th of August, 2018, (after Sallah) to consider the harmonised version of the budget report diligently.

    “Moreso, the report of the joint committee will be made available for further and appropriate legislative action in earnest.”

  • Senator seeks forensic audit of National Assembly budget

    Senator Abdullahi Adamu yesterday called for a probe into the budgetary allocations to the National Assembly.

    The Nasarawa State senator told reporters in Abuja that an audit had become necessary in view of Senate President Bukola Saraki’s refusal to vacate his seat after defecting from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP).

    He said Saraki’s refusal to vacate his seat after defecting to a minority party could be because he had something to hide.

    Adamu said: “I call for a forensic audit of the finances of the Parliament, which has been thoroughly messed up under the President of the Senate, Dr Bukola Saraki.

    “We did not know what Saraki’s agenda is. As we go through this tenure of his, the more we see things being unearthed.

    “For him to refuse to move or leave the chair, there must be a reason for it.

    “As the chairman of the National Assembly, there is so much he is doing that we want to take a look at.

    “If he is clean, let him move away and accept that there should be a forensic audit of the National Assembly funds under his watch. Simple. Let him move so that we will see what he is sitting over.

    “We have seen his unbridled ambition. We have seen now that even though the odds are so much against him, he went to a party that is now losing ground and that is now a minority in the National Assembly.”

    On continued call by the leadership of the APC for Saraki to vacate his seat, Adamu said: “It is pretty obvious that Saraki’s influence has diminished completely.

    “Because he has lost the respect and confidence of majority of senators and well-meaning Nigerians, but he’s just latching on to that seat because of the privileges he enjoys.

    “Ordinarily, Saraki needed not wait for any pressure to be mounted on him before he resigns from his position as Senate president.

    “You cannot command any respect or assert your authority as a leader when majority of those you’re supposed to lead have lost confidence in you and are opposed to your leadership.

    “So, if he is a self-respecting person, he does not even need anyone to ask that he should throw in the towel because he and his PDP have lost majority in the Senate.”

    He said Saraki was entitled to aspire for any office, including that of the President of the Federal Republic of Nigeria.

    Adamu, however, he said: “But he should not try to destroy the system just because he wants to realise that ambition at all cost.”

    On who succeeds Saraki, if he exits his seat as President of the Senate, the lawmaker said: “You do not cross a bridge before you get to it.

    “All the speculations about the purported rift is aimed at dividing us and distracting us from our determination to assert the interest of our party which enjoys the majority in the Senate.”

    He added that the lawmakers were united and that the party had the goodwill of Nigerians in view of progresses being made in different sectors of the economy.

    While citing the party’s victory in recent Senatorial by-elections in Katsina, Kogi and  Bauchi states, the lawmaker said it was a sign of victory for the ruling APC in  2019.

    “They were the clearest pointers to the victories that will be recorded by President Muhammadu Buhari and the ruling APC during the 2019 general election.