Connect with us
nairametrics
UBA ads

Economy & Politics

OFFICIAL: Muhammadu Buhari wins 2019 Presidential elections

Published

on

Election delay

President Muhammadu Buhari has been officially declared the winner of the 2019 elections.

Chairman of the Independent National Electoral Commission (INEC) Professor Mahmood Yakubu announced this at about 5am this morning following the collation of results from the 36 states of the federation and FCT.

UBA ADS

https://platform.twitter.com/widgets.js

https://platform.twitter.com/widgets.js
How Nigerians voted

  • Total number of registered voters amounted to 89.3 million
  • A total of 29.3 million voters were accredited.
  • 28.6 million votes were cast.
  • 27.3 million votes were valid
  • 1.2 million votes were rejected.
  • The All Progressives Congress (APC) got 15.1 million votes.
  • The Peoples Democratic Party (PDP) had 11.2 million votes.

GTBank 728 x 90
Patricia

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Economy & Politics

Apapa Command’s revenue rises 10.59% to N227.3 billion in the first half of 2020 – Customs 

Abba-Kura also praised the Customs Service for its achievements in spite of multiple challenges.

Published

on

Nigerian Customs: Apapa Command recorded N40.6 billion FoB in 2019

The Nigerian Customs Service announced on Thursday that its revenue for the Apapa Command rose by 10.59% from the previous year as it has generated N227.3 billion during the first half of 2020. 

While disclosing this, the Customs Area Controller, Mohammed Abba-Kura said, “There has been a steady improvement in revenue collection all through the half-year except for the month of May which recorded a decline of about 3.531 billion, when compared between year 2019 and 2020. The command in the half-year of 2019 collected a total sum of N203.264 billion as customs duty and other charges like seven percent surcharge, Value Added Tax, one percent Comprehensive Import Supervision Scheme (CISS) among others. 

UBA ADS

 “From January to June this year, the command collected a huge sum of N227,347,046,233.53, which represents an increase of N24,082,991,550.84 or 10.59 percent increase from the previous year.” 

READ MORE: Court slams N5 million fine on Nigeria Customs Service for collecting duty on personal effects

According to NAN, Abba-Kura also praised the Customs Service for its achievements in spite of multiple challenges they have faced this year. 

GTBank 728 x 90

In spite of all challenges, the Apapa Area Command has maintained its tempo at ensuring that maximum revenue is collected in addition to trade facilitation and suppression of smuggling, he said.  

The Area Controller further disclosed that the Command seized 142 containers of various items during the period. The seizures were related to smuggling and were seized pursuant to sections 46 and 48 of the Customs and Excise Management Act (CEMA) which enforces laws related to forfeiture of goods that are illegally imported. 

The seized goods ranged from luxury cars like Rolls Royce 2018 and a 2019 Lamborghini Hurricane. Others include pharmaceuticalsriceclothes, assorted foodstuffand other materials. 

onebank728 x 90

Meanwhile, in terms of exports, the value of exported products so far is about N52,369,506,770.90 – Free on Board Value, mainly Agricultural produce and Mineral resources. 

READ MORE: Even with a 939% jump in H1 Profit, Neimeth still needs to build consistency

Unfortunately, the Coronavirus pandemic has inevitably affected the operations of the Command this year.

app
GTBank 728 x 90

According to Abba-Kura, “ten of our men in Apapa command got infected with COVID-19 and were sent to the isolation centre and as at today, they are all well now and we appreciate the Lagos State government and doctors at the Lagos University Teaching Hospital for their help.”  

Note that the Customs revenue growth comes at a time of declining revenue for Nigeria, even as the Federal Government’s debt service as a percentage of revenue rose to 99% in the first quarter of 2020. Therefore, it is a good development. 

Nairametrics reported the country earned N950.5 billion in revenue compared to a prorated budget of N1.9 trillion, representing a whopping shortfall of 52%.  Oil revenue was N464 million representing a shortfall of 30% when compared to budget while non-oil revenue was N269 billion representing a shortfall of 40% in the first quarter of 2020. 

Patricia
Continue Reading

Economy & Politics

Buhari suspends NSITF MD and other top management officials, appoints acting MD  

The minister disclosed that the suspension of these officials became imperative after the preliminary investigation.

Published

on

FG New Minimum Wage, Egypt megaproject, German Chancellor Angela Merkel, President Buhari and Angela Merkel meeting, President Buhari to sign deal with Siemens, Siemens

President Muhammadu Buhari has approved the indefinite suspension of the Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Mr Adebayo Somefun and three Executive Directors of the Government agency over corruption allegations. 

Also suspended are some other top management staff of the agency.  

UBA ADS

This was disclosed in a press statement by Charles Akpan of the Press and Public Relations of the ministry on behalf of the Minister for Labour and Employment, Chris Ngige, on Thursday, July 2, 2020.  

The suspended Executive Directors are Jasper Ikedi-Azuatalam, Executive Director (ED), Finance and Investment, Mrs Olukemi Nelson, ED, Operations and Alhaji Tijani Darazo Sulaiman, ED, Administration. 

Also suspended are Mr Olusegun Olumide-Bashorun, General Manager, Administration/Human Resources/Maintenance, Mr Lawan Tahir, General Manager, Finance, Mr Chris Esedebe, General Manager, Claims and Compensation, Mr Olodotun Adegbite, Deputy General Manager, Investment and Treasury Management, and Mr Emmanuel Enyinnaya-Sike, Deputy General Manager, Finance and Accounts. 

GTBank 728 x 90

The press statement also mentioned Mrs Olutoyin Arokoyo, Deputy General Manager/Acting Head, Legal, Ms Dorathy Zajeme-Tukura, Deputy General Manager, Administration, and Mrs Victoria Ayantuga, Assistant General Manager, Internal Audit as part of the management team that was suspended. 

The minister disclosed that the suspension of these officials became imperative after the preliminary investigation established prima facie infractions on the extant Financial Regulations and Procurement Act. and other acts of gross misconduct. 

According to the statement, ‘’During the period of their suspension, the officers will face a Joint Board and Audit Investigative Panel that had been set up to look into the financial and procurement breaches, as well as gross misconduct in the NSITF from 2016 to date. 

onebank728 x 90

“The gross misconduct has invariably put the contributions of stakeholders in a perilous state. The affected officers have also been directed to hand over to the most senior officers in their respective departments.” 

The statement also quoted the Minister, Chris Ngige, as directing the most senior General ManagerDr Kelly Nwagha, to take over as the Acting Managing Director/Chief Executive with effect from Monday, July 6, 2020. 

The Labour Minister also charged the Chairman of the Board, Mr Austin Enajemo Isire, to ensure that the investigative panel commenced work as soon as possible. 

app
GTBank 728 x 90

The NSITF has not been new to controversies as the Federal Government had alleged that N48 billion out of the N62 billion contributions to the agency was mismanaged by the former board and management between 2012 and 2015. 

Some of the former officials of NSITF including the former Chairman, Ngozi Olejeme, were charged to court for corrupt practices and embezzlement by the Economic and Financial Crimes Commission (EFCC). 

Also, sometime last year, Ngige, had a running battle with the Nigerian Labour Congress over the non-inauguration of the board of the government agency.

Patricia
Continue Reading

Economy & Politics

We don’t have $1 billion hidden account – NPA

The NPA said it does have an account with Unity Bank Plc, but has not operated it since 2010.

Published

on

NPA

The Nigerian Ports Authority (NPA) has denied the allegations of a whistleblower who claimed that the authority has a hidden $1 billion account with Unity Bank Plc. 

The NPA, in a statement responding to a petition by a man named John Okpurhe to President Muhammadu Buhari, said the allegations that it operates such accounts are untrue. 

UBA ADS

The petitioner had also accused the Attorney General of the Federation, Mr. Abubakar Salami (SAN) of allegedly refusing to reward him after allegedly exposing over $1 billion in a hidden account with Unity Bank Plc operated by the NPA. 

READ MORE: COVID-19: NPA, NCDC disagree over new cases in Lagos

The petitioner also claimed that an account number 0013680344 operated by the NPA with Unity Bank contains the hidden amount. However, the NPA vehemently denied the allegations and claimed that it only operates the bank account 0013670344 which had a total sum of $1,057,772.03 as of December 2019 and not the $1,034,515,000.00 as alleged by the petitioner. 

GTBank 728 x 90

The NPA also says the account has not been in operations since August 2010 due to a Garnishee Order placed on it in the Aminu Ibrahim & Co $ Anor vs Nigerian Ports Authority case, which went from Federal High Court to the Supreme Court in 8 years. Parts of the detailed statement released by the NPA said: 

“The Judgment creditors continued with the Garnishee process which resulted in the credit of the amount $1,057,772.03 in favour of Suit No: FHC/L/CS/582/2010 GARNISHEE ORDER NISI – AMINU IBTAHIM & CO & ANOR vs  NIGERIAN PORTS AUTHORITY on December 4rg 2019 in line with the Garnishee order absolute. 

READ ALSO: NPA and BUA Group dispute to affect 1000 jobs, $500,000 monthly revenue 

onebank728 x 90

“The account under discussion was frozen on the strength of a court order in August 2010, following the completion of the case, the money was consequently transferred to the judgment creditor on December 4, 2019 in line with the Garnishee Order Absolute.”

NPA also maintained that it is obvious no cloned account exists as speculated in the “alleged whistleblowing effort”. 

app
GTBank 728 x 90

Patricia
Continue Reading