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N/Assembly Now Ready To Revisit Devolution Of Powers To Unbundle FG –Ekweremadu

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The Deputy president of the Senate, Senator Ike Ekweremadu, has briefed the Nigeria Governors Forum, NGF, on the ongoing constitution amendment exercise, stressing that hope is still alive on restructuring of the federation as being clamoured in many quarters in Nigeria.

Ekweremadu had raised the hope that the issue of restructuring and indeed, Devolution of Power which did not see the light of day during the last Constitutional Amendment process by the National Assembly would be revisited.

According to him, efforts were on to build consensus around some of the failed bills, especially the bill on devolution of powers, with a view to revisiting it to unbundle and make the Federal Government more efficient.

He met with the Forum at the Presidential Villa Thursday night, intimating them that of the 33 bills on the proposed amendments, 21 were passed by the Senate and House of Representatives, while 12 failed.

On the concerns that it would be an aberration of federalism for State Houses of Assembly and the Local Governments to draw revenues directly from the Federation Account, Ekweremadu explained that amendments towards financial autonomy for both only seeks to alter Section 162 of the Constitution to abrogate the State Joint Local Government Accounts and create the Consolidated Revenue Fund of the State from which all allocations due to the Local Government Councils and the State Assemblies shall be directly paid from the Federation Account.

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He said the proposed amendments would guarantee the democratic existence, funding, and tenure of local government councils.

He said that financial autonomy for Local Governments would not return primary education to the era of unpaid salaries.

He explained that although education remained the constitutional responsibilities of the Local Governments, provisions have been made to deduct from the source the monthly financial obligations of the Local Governments to primary education for remission into the account of state agencies overseeing basic education.

The lawmaker further maintained that altering Section 134 and 179of the Constitution would avail the Independent National Electoral Commission, INEC, sufficient time for INEC to conduct bye-elections; and section 225 to empower it to de-register political parties was not total.

“INEC’s power to deregister parties will apply strictly to non-fulfillment of certain conditions such as breach of registration requirements and failure to secure/win either a Presidential, Governorship, Local Government chairmanship or a seat in the National or State Assembly or a Councillorship seat.

“Bill No. 10, seeks to alter sections 58, 59 and 100 only seeks to resolve the usual situation where the President or Governor neglects to signify his/her assent to or veto of a bill from the legislature.

“So, the President or Governor will now have 30 days to signify his/her assent/veto rather than keep everyone in endless suspense, while passed bills gather dust in the shelf. In the United States, the Constitution provides for only two weeks. So, the intent is to enable timely passage of laws for good governance”.

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On Bill No. 4, which seeks to set a timeframe of 30 days for the President and Governors to nominate the Ministers and Commissioners along with their proposed respective portfolios, he maintained that the 1999 Constitution did not envisage a situation where some governments would run without cabinet for months or years.

“It will also serve the nation better if members of the National Assembly can screen nominees based on specific portfolios. That way, we are able to ascertain their suitability as we see in developed democracies like the United States”, he added.

Ekweremadu allayed the fears that independent candidacy could make the electoral process cumbersome, noting that INEC would, by law, set the modalities for qualification as an independent candidate.

Ekweremadu said that Bill No. 16seeks to restrict a person who was sworn-in as President or Governor to only completing the term of the elected President or Governor from contesting for the same office for more than one term.

On Bill No. 21, he explained that the successful amendment of the Constitution in 2010, which set the timeframe for the determination of election petitions, had greatly improved the nation’s electoral system, hence the need to replicate it in the area of pre-election disputes.

Meanwhile, he said the National Assembly had not given up to the proposed amendments of Second Schedule, Part I & II to move certain items, such as railway and power, to the Concurrent Legislative List to give more legislative powers to States.

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“Besides making governance difficult, concentration of so much power at the centre fuels the struggle for federal power. We believe that devolving some power to the States will improve good governance and also make the centre less attractive”, Ekweremadu stressed.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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