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Osun govt. cautions Aregbesola’s aide over ‘mischievous narratives’ on state’s debt portfolio
The Osun state government has cautioned the immediate past Commissioner for Finance, Dr. Wale Bolorunduro to desist from misleading the public with wrong narratives as regards the state’s debt portfolio.
The government, through its Debt Management Office (DMO) reminded Bolorubduro that he served as Commissioner for Finance for only three years in an administration which completed the two terms of eight years, hence he lacks full knowledge of what really transpired under the administration.
Reacting to the ex-commissioner’s write up published in a weekly local newspaper last week, the Director General, Osun DMO, Dr. Tunde Adejumo noted that there is no need for the State’s total debt stock to become a subject of argument when there is a Federal repository of debts stocks in the country. He explained that Federal Debt management office (DMO) keeps records of all borrowings by both the Federal and States’ governments in the country.
The piece by the Osun DMO Director General reads In part, “On the issue of the State’s monthly loan repayments, and monthly loan deductions from the Statutory receipts, these are verifiable details from both the offices of Accountant-General (AG) of the Federation and Federal Ministry of Finance (FMoF). Therefore, the unending narratives on Osun State’s Debt Stock and loan repayments from the former Commissioner of finance, in our view are mischievous and needless.
“Concerning the State’s total debt portfolio which Dr. Bolorunduro think is secretive (as it was during his time in the State’s ministry of finance), as usual, our office actually has nothing to hide.
“According to our records, the State’s total debt portfolio inherited by the current administration was truly well over =N=200billion.
“On the issue of deductions from the State’s monthly statutory accounts, and fund applied so far for loan repayments by the current administration, as at November 2018, monthly direct deductions for repayment of the State’s loan was =N=2.61billion.
“This excludes other deductions from the State’s IGR for internal loans’ repayments. This amounted to over =N= 130million”.
He continued, “Following the full repayments of the State’s =N=30billion Bond and =N=11.4billion Sukuk in 2019 and 2020 respectively however, direct deductions from the State’s monthly revenue had reduced to =N=1.8billion, while indirect deductions (from the State’s IGR) for loan repayments subsists.
“Total deductions from the State’s statutory revenue for the month of January 2022, appropriated recently was =N=1,836,968,138.03 (One billion, eight hundred and thirty six million, nine hundred and sixty eight thousand, one hundred and thirty eight Naira, three kobo) only, against a Gross statutory allocation of =N=1.46billion.
“This can be verified officially from the appropriate agency of the FGN as earlier indicated. I hope our egg-head Doctor could now see that the State government’s claim of negative statutory receipt from the Federation account for the referenced month actually adds up contrary to his insinuation.
“For avoidance of doubts, we wish to add that till date, the current administration has applied over =N=70billion for the State’s loan repayment. This excludes amount applied for part payment of the Domestic non-borrowing debts such as Pension and gratuity, contractors’ arrears etc inherited from the immediate past administration.
“While claiming full knowledge of the State’s financial affairs inclusive of the State’s level of exposure during the preceding administration, Dr. Bolorunduro perhaps needs to be reminded that he served as the State Commissioner of finance under the last administration for only a period of three years ending in November 2014. One therefore wonders why he keeps claiming to be a Registry of all the financial transactions during the whole 8 year tenure of the immediate past administration. Whereas, we are not unaware of his usual clandestine moves and antics in breaking through the State’s firewalls, it will be advisable for him to be sure of his figures at least. It would be recalled that our office had earlier raised concern on his usual contentious statistics and tenuous narratives about the financial affairs of the current government in the State.
“In his referenced publication, the former commissioner, also made an assertion that monthly loan repayment ordinarily should be met from the State’s Internally Generated Revenue (IGR). As fiscally logical as this argument sounds, it is quite astonishing that this was not the case when the self-acclaimed Financial Guru was in charge of the State’s finance. As a matter of fact, the State’s IGR was at best, only about 25% of the State’s loan repayment throughout his 3 year tenor as Finance commissioner in the State”, Adejumo concluded.
The Nigeria Customs Service (NCS) has announced a record revenue collection of N5.7 trillion as of November 12, 2024, surpassing its yearly target by 10 percent.
This was disclosed by the Comptroller-General of Customs, Adewale Adeniyi, at the ongoing 2024 Comptroller-General of Customs Conference in Abuja.
Themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” the conference showcased the Customs Service’s progress in modernizing its operations and fostering collaborative partnerships.
“Today, I stand before you to demonstrate how our commitments in 2023 have evolved into tangible achievements,” Adeniyi stated.
He attributed the revenue growth to a series of reforms, including the implementation of a one-stop solution for cargo alerts, a revamped ICT infrastructure, streamlined inspection procedures, and enhanced automation.
Adeniyi explained that these changes reflect the agency’s commitment to elevating operational transparency and efficiency.
“We pledged to re-align our free trade operations, elevate cargo integrity standards, and expand our scanning capacities,” he said.
“Above all, we promised to usher in a new era of customs operations—one built on transparency, efficiency, and genuine collaborations with our partners.”
As of Tuesday, November 12, Adeniyi confirmed that the NCS collected N5.07 trillion, achieving the anticipated 10 percent revenue surplus.
“This performance validates our partnership-driven approach to revenue collection and trade facilitation,” he added.
Adeniyi also highlighted recent strides in trade facilitation, revealing that six companies have been selected to benefit from the Authorised Economic Operators programme, which provides fast-tracked customs clearance and other trade facilitation benefits.
Similarly, the NCS has processed 21 requests under an advance ruling programme, designed to expedite customs decisions on import and export cargoes before they reach Nigerian ports.
The Comptroller-General expressed optimism about the NCS’s potential to drive further economic growth, citing the agency’s commitment to fostering partnerships and advancing innovative practices within the customs sector.
Nineteen out of the thirty-eight directors who were shortlisted to fill permanent secretary vacancies within the Federal Civil Service have failed the qualifying examination, a memo from the Office of the Head of Civil Service of the Federation (OHCSF) revealed on Tuesday.
The memo, signed by Dr. Emmanuel Meribole on behalf of the examination committee, disclosed that the qualifying exam was conducted on Monday, November 11, 2024.
The Federal Government, through the OHCSF, launched the recruitment drive in October to fill permanent secretary vacancies in eight states.
Providing insights into the progress, Eno Olotu, Director of Press at OHCSF, stated, “Of the 38 eligible directors who sat for the exam, 19 have passed the first stage and will move on to the second stage, which will assess their competency in using Information and Communication Technology (ICT) in government operations on Wednesday, November 13, 2024.”
Olotu highlighted the rigorous three-stage selection process, designed to ensure that only the most capable individuals are appointed to these high-ranking civil service roles.
This comprehensive approach, according to OHCSF, aims to elevate the quality of leadership across federal ministries.
The directors who advance beyond the ICT proficiency test will face a final stage on Friday, November 15, 2024, where a panel of senior government officials and private sector experts will conduct a final evaluation to determine their suitability for the permanent secretary positions.
The Chairman of the House Committee on the Federal Road Maintenance Agency (FERMA) and representative of Ibarapa East/Ido Federal Constituency in Oyo State, Engr. Aderemi Oseni, on Saturday urged the community to unite in advancing key development projects aimed at transforming Ikogosi.
Speaking at this year’s Ikogosi Day celebration and the launch of a N1 billion development project in Ekiti, the lawmaker, who served as the Chairman of the occasion, emphasised the importance of unity and collective action.
He encouraged attendees to approach the celebration as a call to action for the betterment of their community.
“As we all know, Ikogosi is not merely a town; it is a treasured gem in the heart of Ekiti State and Nigeria as a whole,” he said. “Ikogosi, a historic and vibrant town, plays a vital role in the tourism and economic landscape of Ekiti State. Its rich cultural heritage and unique resources draw visitors and stimulate economic activities that benefit us all.”
“Today is not just a celebration; it is a call to action,” he continued. “Let us come together, united in purpose, to support these transformative projects that promise to uplift the Ikogosi community. I urge everyone here to invest their time, resources, and energy in this endeavor. Together, we can build a legacy of self-help and development that future generations will cherish.”
Reflecting on the broader challenges facing the country, Oseni encouraged the people of Ikogosi and all Nigerians to remain hopeful and resilient, assuring them of President Bola Ahmed Tinubu’s commitment to a brighter future for the nation.
“To the good people of Ikogosi and all citizens of Nigeria, I urge you to remain steadfast and hopeful. President Bola Ahmed Tinubu means well for all Nigerians. The APC-led administration’s Renewed Hope agenda holds the promise of a brighter future. Though the beginnings may be challenging, perseverance will guide us toward a prosperous new Nigeria,” he stated.
In a statement released by his media aide, Idowu Ayodele, the lawmaker lauded the Ekiti State government under Governor Biodun Oyebanji’s leadership for its transformative efforts in governance and development.
He acknowledged the strides made by the governor and praised his impactful initiatives, which have set Ekiti on a progressive path.
“First and foremost, let me commend the Ekiti State government under the leadership of His Excellency, Mr. Biodun Abayomi Oyebanji. The trailblazing development initiatives and effective governance during your tenure have not gone unnoticed,” Oseni remarked.
“Under your stewardship, we have witnessed remarkable progress and commendable governance that have undoubtedly made Ekiti State a shining example of peace and development,” he added.
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