The three tiers of government – federal, states and 774 local government councils – yesterday shared N702.058 billion as October revenue from the federation account.
The amount was confirmed last night by the Accountant General of Federation, Mallam Idris Ahmed who presided over Federation Accounts Allocation Committee (FAAC) that held in Abuja.
The N702.058 billion comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue.
The gross statutory revenue for the month of October 2019 was N596.041 billion. It was lower than the N599.701 billion received in the previous month by N3.660 billion. Revenue from VAT was N104.910 billion as against N92.874 billion distributed in the preceding month, resulting in an increase of N12.036 billion. Exchange Gain yielded a total revenue of N1.107 billion.
Of N702.058 billion shared, the Federal Government received N295.737 billion, the states received N192.697 billion, and the Local Government Councils received N144.987 billion.
The oil producing states received N49.164 billion as 13% derivation revenue and the revenue generating agencies received N19.472 billion as cost of revenue collection.
A breakdown of the distribution showed that from the gross statutory revenue of N596.041 billion, the Federal Government received N280.110 billion, the states received N142.076 billion, the local government councils received N109.534 billion, the oil producing states received N49.044 billion as 13% derivation revenue and the revenue collecting agencies received N15.276 billion as cost of collection.
From the VAT, the Federal Government received N15.107 billion, the states received N50.357 billion, the local government councils received N35.250 billion and the revenue generating agencies received N4.196 billion.
The balance in Excess Crude Account (ECA) stood at $324 million as of 20th November 2019.
Cellphone-related head and neck injuries on the rise, study says
People distracted by their cellphones are tripping, falling and hurting their heads and necks more often, with such injuries increasing “steeply” over a 20-year period, a new analysis has found.
According to NBC News, most cases were mild, but some involved facial lacerations and traumatic brain injuries that could lead to long-term consequences, the authors warned.
The study, published Thursday in JAMA Otolaryngology–Head & Neck Surgery, is believed to be the first to investigate the role smartphones play in injuries to these parts of the body. Previous studies have found that all types of “distracted walking” injuries have been on the rise.
Dr. Boris Paskhover, a reconstructive surgeon and the lead author of the new paper, started looking into the statistics after seeing patients with broken jaws or facial wounds who would tell him they fell while staring at their phones and not paying attention to their surroundings.
“I don’t think people are aware of how fragile we are as humans. We’re resilient, but we’re also fragile. You fall and you can get a pretty bad injury,” Paskhover, an assistant professor in the department of otolaryngology, head and neck surgery, at Rutgers New Jersey Medical School, told NBC News.
“You walk in the city and you see everyone just looking at their phones,” he said. “Be aware that you can hurt yourself.”
The study looked for cellphone-related injuries to the head and neck listed in the National Electronic Injury Surveillance System, a database that collects information about emergency room visits from about 100 U.S. hospitals.
From January 1998 to December 2017, there were 2,501 patients who sought help for such issues. If translated onto a national scale, the number of cases would amount to more than 76,000 people, the authors estimated.
Head and neck injuries related to cellphone use were relatively rare until the rate began to increase sharply in 2007, the year the first iPhone was released, followed by a much steeper increase that peaked in 2016.
Cellphone users aged 13 to 29 made up almost 40 percent of the patients, and most of the injuries caused by distraction happened in this age group.
A third of the cases involved the head; another third affected the face, including the eyelids, eye area and nose; and about 12 percent involved the neck.
Many of the injuries were caused by falls when people were looking at their phones and not paying attention to their surroundings — like texting while walking, for example, Paskhover said.
Children younger than 13 were more likely to be directly hurt by the phone — accidentally hit by a device that was in their parent’s hand, for example. Paskhover has also had patients who were playing a game on their phone when it slipped, hit them on the face and broke their nose. “It happens,” he noted.
The most common injuries included lacerations, which accounted for 26 percent of the cases. Scarring from facial lacerations can lead to anxiety and lower self-esteem, the study noted.
Another quarter of patients suffered bruises and abrasions.
Internal organ injuries made up almost a fifth of the cases, or 18 percent. When referring to the head, this diagnosis most commonly indicated traumatic brain injuries — “those are the scary ones,” Paskhover said.
“We have a skull that protects our brain, but it doesn’t mean it’s impervious. Your brain is soft,” he noted. “I see patients who die just from falling. A fall from upright — you fall, you hit your head the wrong way, you get a traumatic brain injury.”
Still, most patients in the study were treated and released from the hospital, or released without any treatment required.
The findings suggest there’s a need for public education about the risks of being distracted by cellphones beyond texting and driving, the authors noted.
The takeaway is “don’t be distracted — period,” Paskhover said. “Be self-aware. Answer a text message, fine, but you shouldn’t be walking around reading articles on your phone.”
Earlier this year, New York lawmakers proposed a ban on texting while crossing the street.
4 killed in shootout following theft of UPS truck in Florida
Two suspects and two civilians died in Florida on Thursday after an attempted robbery led to the theft of a UPS truck and a shootout with police.
The incident began at a jewelry store in Coral Gables, police said.
At least one store employee was injured. That person’s status is unknown, reports ABC News.
The two suspects, police said, then carjacked a UPS truck, holding the driver hostage during police pursuit.
The driver was among those killed, along with an innocent bystander at the scene of the shootout.
The attempted theft began around 4:15 p.m. local time, FBI Special Agent in Charge George Piro told reporters later Thursday night.
As the suspects fled Regent Jewelers, shots were fired, and the two men carjacked the UPS truck before leading authorities on a high-speed pursuit, Piro said.
The two suspects died in a firefight with police. It’s unclear how the truck driver and bystander were killed — whether it was gunfire from the suspects or if they were caught in the crossfire with police.
UPS released a statement, saying, “We are deeply saddened to learn a UPS service provider was a victim of this senseless act of violence. We extend our condolences to the family and friends of our employee and the other innocent victims involved in this incident. We appreciate law enforcement’s service and will cooperate with the authorities as they continue the investigation.”
The FBI is leading the investigation.
Senate passes N10.59trn 2020 budget
…returns budget cycle to January-December
The Senate, yesterday, passed N10.594 trillion 2020 budget, which is N264 billion higher than the N10.33 trillion presented to the joint session of the National Assembly on October 8, 2019 by President Muhammadu Buhari.
The Senate passed the Appropriation Bill following the consideration and adoption of the report of its Committee on Appropriations, laid before the Chamber on Wednesday.
The Senate, by this action, broke the record of passing the country’s annual budget in less than two months of its presentation by the President, being the first of its kind since the nation’s return to civil rule in 1999.
While presenting the report for approval, the Chairman of the Committee, Senator Barau Jibrin, explained that the increase of N264 billion was made for interventions in critical areas such as national security, road infrastructure, mines and steel development, and health among others.
Based on the recommendations of the Committee, the Senate approved N10,594,362,364,830 as total budget for the 2020 fiscal year.
The breakdown shows that N560,470,827,235 is for statutory transfers, N2,725,498,930,000 for Debt Service; N4,842,974,600,640 for Recurrent (Non-Debt) Expenditure; and N2,465,418,006,955 for Contribution to the Development Fund for Capital Expenditure for the year ending on December 31, 2020.
The apex legislative chamber further approved a fiscal deficit of N2.2 trillion and Deficit/Gross Domestic Product (GDP) of 1.52 per cent for the 2020 financial year.
Senator Jibrin also noted that the daily oil production stood at 2.18 million barrels per day while the oil benchmark was increased from $55 proposed by the Executive to $57 per barrel, and that the exchange rate remained N305 per dollar.
The Red Chamber also approved Gross Domestic Product (GDP) and inflation rate of 2.93 per cent and 10.81 per cent respectively as recommended by the Appropriations Committee.
The expeditious passage of the money bill was the outcome of the resolve of the National Assembly to return the country’s budget cycle to January – December, for effective implementation.
According to the passed Bill, Capital Expenditure for Ministries, Departments and Agencies of Government (MDAs) for the 2020 fiscal year are: Ministry of Defence N116,181,290,730; Ministry of Foreign Affairs, N7,608,141,474; Ministry of Information and Culture, N7,555,803,233; Ministry of Interior, N34,035,825,302; Office of the Head of the Civil Service of the Federation, N1,722,796,040;Ministry of Police Affairs, N15,959,986,864; Ministry of Communication Technology, N5,919,002,554; and Office of the National Security Adviser, N27,418,469,323.
Others are: Office of the Secretary to the Government of the Federation, N25,188,940,930; Special Duties and Inter-Governmental Affairs, N2,158,620,395; Federal Ministry of Agriculture and Rural Development, N124,395,096,917; Federal Ministry of Finance, Budget and National Planning, N4,976,199,925; Federal Ministry of Industry, Trade and Investment, N38,583,331,761; Federal Ministry of Labour and Employment, N24,445,756,678; Federal Ministry of Science and Technology, N62,882,531,566; Federal Ministry of Transport, N121,366,932,571; and Federal Ministry of Aviation, N52,061,533,122.
Furthermore, the Ministry of Power has an allocation of N129,082,499,363; Ministry of Petroleum Resources, N3,337,444,887; Ministry of Mines and Steel Development, N10,431,563,177; Ministry of Works and Housing, N315,563,564,269; Ministry of Water Resources, N91,679,927,042; Ministry of Justice, N3,853,600,220; Federal Capital Territory Administration, N62,407,154,360; and Ministry of Niger Delta Affairs, N23,120,350,399.
Others include: Ministry of Youths and Sports Development, N3,735,486,210; Military of Women Affairs, N6,650,300,966; Federal Ministry of Education, N84,728,529,572; Ministry of Health, N59,909,430,837; Federal Ministry of Environment, N12,350,140,731; and Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, N61,085,146,003.
In his comment on the budget, Senator Bassey Akpan (PDP, Akwa Ibom) said that the executive arm would have no reason not to implement the 2020 budget in full since the bill was passed expeditiously by the National Assembly.
In his remarks after the passage of the budget, Senate President Lawan noted that one of the issues resolved in the legislative agenda of the Ninth Senate, was return the budget cycle to January to December.
He expressed satisfaction that the Senate was able to achieve that objective, commending his colleagues for their cooperation in ensuring the accomplishment of the set goal.
He said: “When we came in, all of us approved our legislative agenda, and one of the key pillars of this agenda is to take back our budget cycle from the very undesirable cycle that cannot be defined to something that can be defined and bought into by our country and business partners living in and outside the country.
“Today, we have been able to achieve this. It means where there is will, there is always a way. This is something that we have been able to achieve together with the House of Representatives.
“I must give members of the Ninth National Assembly the credit, because we thought it was going to be impossible.”
Lawan also expressed optimism that, with the recent passage of landmark legislations such as the Production Sharing Contract (PSC) Act, Finance Bills and Public Procurement Bills by the National Assembly, the Executive arm of government had been sufficiently empowered to ensure the successful implementation of the 2020 budget.
Senators, Reps increase own budget by N3bn
The House of Representatives, yesterday, raised the National Assembly budget by N3 billion, increasing it from N125 billion to N128 billion.
This is the earliest budget to pass by the National Assembly since 1999.
The 2020 budget was presented to the National Assembly on October 8, 2019 and passed on December 5, 2019. It took one month and 27 days to be passed.
In the 2017, 2018 and 2019, the National Assembly budget was kept at N125 billion from the N150 billion, which had existed for years.
Explaining the reasons for the increase in the budget, chairman of the House of Representatives committee on media and public affairs, Hon. Benjamin Kalu (APC, Abia) said with the increment, “it is now clear that we are not a rubber stamp legislature as many people thought.”
Briefing House correspondents, Kalu said: “You wouldn’t expect the budget to come and go the way it came. I am sure what the president presented had a, b, and c; but what is going out may have d, e and f,” adding that “the addition was to cater for critical areas of the economy.”
He said: “Beginning from now, Nigerians will believe that the 9th Assembly is walking the talk. The 9th Assembly has broken the jinx and it is not for self-glorification, but it is targeted at meeting national goals.”
The lawmaker noted that the “ball is now in the court of the executive to do the needful.
Kalu promised that in line with the amendment of section 56 of the 1999 constitution, which provides that bills passed by the National Assembly should be transmitted not later than seven days from the time of passage, the appropriation bill will be sent to the president in a few days.
The Bill was passed in the House of Representatives after clause by clause consideration of the report of the appropriation committee at the committee of supply chaired by Speaker Femi Gbajabiamila.
Chairman of the appropriation committee, Hon. Muktar Betera (APC, Borno), while presenting the report, stated that the National Assembly of Nigeria has authorized the issue and appropriation of N10,594,362,364,830 from the Consolidated Revenue Fund for 2020.
He said the 2020 Appropriation Act authorised: “The Accountant-General of the Federation shall, when authorized to do so by warrants signed by the minister charged with responsibility for finance, pay out of the Consolidated Revenue Fund of the Federation during the year ending on the 31st day of December 2020, the sums specified by the warrants, not exceeding in the aggregate N10,594,362,364,830 only.”
The N10.59 trillion budget has total recurrent expenditure (non-debt) of N4.84 trillion, total capital expenditure of N2.46 trillion and N560.470 billion for statutory transfers as well debt service allocation of N2.72 trillion.
DSS frees Sowore, pays N100,000 fine as women protest nude
The Department of State Services (DSS) has released the convener of #RevolutionNow protest, Omoyele Sowore, and his co-accused, Olawale Bakare, after spending 124 days in their custody.
Sowore and Bakare were let off the hook of the DSS at 7:15p.m. yesterday.
They were released to their lead counsel, Femi Falana (SAN).
Sowore, the publisher of Sahara Reporters, was arrested alongside an activist, Bakare on August 3, for alleged treasonable felony, among other related charges.
Confirming Sowore’s release last night, spokesperson for the DSS, Dr. Peter Afunanya, said: “Yes, Sowore has been released.”
Asked if the sum of N100,000 was paid as fine, he said: “Yes, we paid the N100,000.”
They were released after Justice Ijeoma Ojukwu of the Federal High Court sitting in Abuja, gave the DSS 24 hours to release the activists.
Justice Ojukwu had expressed displeasure over the act of the security agency.
Sowore and his co-defendant are facing a seven-count charge bordering on conspiracy to commit treasonable felony in breach of Section 516 of the Criminal Code Act, money laundering and cybercrimes, amongst others.
They pleaded not guilty to the charge and were granted bail on October 4, in the sum of N100 million and N50 million respectively with two sureties in like sum.
For Sowore, one of the sureties, according to the judge, must deposit the sum of N50 million cash as security for the bail.
However, the court had, two weeks later, varied the bail conditions following a request to that effect.
Justice Ojukwu had signed the release of the bail of the defendants after they met the bail conditions.
But the DSS had refused to release the defendants even after evidence that they have met the conditions attached to the bail.
However, at the resumed hearing yesterday, Justice Ojukwu was infuriated that her order on the release of the defendants was yet to be obeyed.
Counsel to the defendants, Falana, had complained to the court that its order as regards release of documents and the defendants who have been granted bail and have met the attached conditions has not been complied with by the prosecution.
Falana, who told Justice Ojukwu that one month after the court ordered service of documents to be tendered on the defence, the prosecution only served the defence the documents yesterday and hence would be needing time to study the documents as well as watch the attached videos with the defendants.
He also prayed the court to direct the prosecution to serve the full statements of all listed witnesses instead of a summary statement to aid their defence.
The defendants’ counsel further told the court that he was having difficulty gaining access to his client who is still in custody of the prosecution despite meeting his bail conditions.
At this instant, Justice Ojukwu called on the prosecution counsel to explain why Sowore and Bakare were still in their custody.
Responding, prosecution counsel, Hassan Liman (SAN), admitted that the order was served on the prosecution, but the defendants were yet to be released because the DSS had asked their sureties to come for identification.
Interjecting, Justice Ojukwu asked the prosecution counsel whether that request was part of the court’s order.
“Is that part of the order? Is there a parallel court here, who is directing that? Is there another court elsewhere?” the court queried.
Justice Ojukwu expressed pain that the DSS could flout her orders even after she took time to ensure that the bail conditions were met.
In a short ruling, the judge ordered that the defendants be released within the next 24 hours and adjourned to Friday, December 6 for report of compliance.
On the request for adjournment by Sowore’s counsel for time to study the documents and videos tendered as evidence against Sowore, Justice Ojukwu held that because the adjournment was created by the prosecution, she was inclined to award cost against the prosecution.
She recalled that while adjourning the matter in November, she had ordered that the prosecution serves all necessary documents it intends to tender on the defence before the commencement of trial yesterday.
“Since the last time, you did not deem it necessary to serve,” she said while refusing Liman’s claim that the late service was due to administrative bottleneck.
Justice Ojukwu subsequently awarded a cost of N100,000 against the prosecution, adding that trial would only go on upon payment of the N100,000 fine.
Meanwhile, there was a protest by some old women numbering up to about 50.
The women, who protested nude, came with different inscriptions, such as “Free Sowore”, “Enough of injustice”, among others.
There were also chanting different songs in their local dialect.
Buhari, APC govs meet in Aso Rock, keep mum
Governors elected on the platform of the All Progressives Congress (APC) yesterday met with President Muhammadu Buhari at the Presidential Villa, Abuja.
The meeting it was gathered was not unconnected with the crisis in the party over the protest against the current national chairman, Comrade Adams Oshiomhole.
The meeting was attended by Vice President Yemi Osinbajo.
Although no official reason was given for the meeting, there have been speculations that some governors elected on the APC platform are no longer comfortable with the national chairman of the party, Adams Oshiomhole, and are seeking to remove him.
The meeting in Aso Rock started at about 3p.m. and lasted over two hours.
The governors who attended the meeting were: Kayode Fayemi (Ekiti), Babajide Sanwo-Olu (Lagos), Babagana Zulum (Borno), Inuwa Yahaya (Gombe), Badaru Abubakar (Jigawa), Abubakar Sani Bello (Niger), Atiku Bagudu (Kebbi), Abdullahi Sule (Nasarawa), Simon Lalong (Plateau), Godwin Obaseki (Edo) Nasiru El-Rufai (Kaduna), Gbenga Oyetola (Osun), and Dapo Abiodun (Ogun).
They, however, declined to speak to newsmen at the end of the meeting as one by one, they filed out of the Council Chambers accompanied by the Chief of Staff to the President, Abba Kyari.
Mixed reactions trail senator’s sentence
Mixed reactions from two political party chieftains in Abia State greeted yesterday’s judgement of a Lagos High Court, which sentenced the Senate Chief Whip and former Abia governor, Orji Kalu, to 12 years in prison over alleged fraud.
The chairman of the All Progressives Congress (APC) in the state, Chief Donatus Nwankpa, said in an interview with the News Agency of Nigeria (NAN) that he was disappointed and angry with the judgement.
Nwankpa, who was a member of the Abia House of Assembly when Kalu was governor, said that the judgement was not fair.
“The party will meet to take a position on the judgement. But as an individual, I am very saddened by the judgement.
“I am not convinced that judgement was given,” he said, adding that the court’s verdict sustained his doubts about the integrity and objectivity of the nation’s judiciary.
Nwankpa said that he never had the confidence that Kalu would get judgement, “considering the utterances of the judge.”
“I’m highly convinced that something went wrong. The judgement is not fair,” he said.
Conversely, the Chairman, Inter-Party Advisory Council in Abia, Mr. Ceekay Igara, described the judgement as “good precedence.”
According to him, “If Kalu was found wanting as governor of the state, he should face judgement.
“It is a normal thing and goes to prove that nobody is above the law.”
Igara, who is the state Chairman of the Labour Party, said that the judgement was supposed to teach two lessons.
He said: “The first lesson for those who are in government and second for others who intend to take over is that whatever they do, there is always a judgement day.”
Mr. Maduka Okoro, the South-East Media Aide to Kalu, told NAN that the former governor would appeal the judgement “to allow other judges and a higher court take another look at the case.”
Okoro said that Kalu was not bothered by the judgement but considered it as one of the travails that every leader must experience “before becoming what God wants him to be.”
He expressed optimism that the judgement would be reversed by a higher court, adding that Kalu would be acquitted at last.
He said that as governor, Kalu administered Abia transparently and never defrauded the state.
Kalu was Abia governor from 1999 to 2007 and won election to the Senate in the 2019 election, after three attempts.
Erectile dysfunction increases risk of heart health
Scientists in the United States (U.S.) have said that men with erectile dysfunction (ED) are more likely to be diagnosed with irregular heartbeat, which is also called atrial fibrillation or a-fib.
They presented the preliminary findings of their new study at the American Heart Association (AHA) Scientific Session in Dallas, Texas, last week.
Atrial fibrillation, or a-fib, is an irregular or quivering heartbeat that can lead to blood clots, stroke, and heart failure.
A Cardiologist and Postdoctoral Researcher at Northwestern University in Chicago, Dr. Yoshihiro Tanaka said: “It is well known that ED symptoms appear two to three years before we see cardiovascular disease; so, if we can use ED symptoms as a marker for predicting future AFib, we may be able to treat the patient early and hopefully stop the disease’s progression.
“If patients have ED, physicians should investigate other cardiovascular risk factors and initiate treatment as soon as possible,” Tanaka told participants at the AHA conference.
ED is the inability to get or keep an erection firm enough to have sexual intercourse. It is also sometimes referred to as impotence. Occasional ED is not uncommon. Many men experience it during times of stress. However, frequent ED can be a sign of health problems that need treatment.
Previous studies had shown a link between cardiovascular disease and ED.
Subsequently, the new study wanted to find out how AFib fits into the picture, said Dr. Yoshihiro Tanaka.
The new study included 1,760 older men without a history of AFib. After four years, 9.6 per cent of men who reported having erectile dysfunction were diagnosed with AFib compared with 2.9 per cent of men without the condition.
“Even after adjusting for various risk factors, including smoking, weight, diabetes and blood pressure, men with erectile dysfunction were 66 per cent more likely to be diagnosed with AFib,”the NewsmaxHealth’reported.
Based on the outcome, Tanaka said: “That’s a reasonably strong association.”
MDAs commit N26.6bn expenditure, payment infractions – AGF
Ministries, Department and Agencies of government (MDAs) committed 140 infractions in expenditure and payment transactions totalling N26.6 billion in 2017, according to the audit report of the Auditor General of the Federation (AGF).
The infractions were spotted by team of auditors that reviewed payments and expenditure in MDAs. The payments contravened standing regulations and policies of the Federal Government.
The report revealed that the sum of N8,608,588,928.68 was expended in 25 infractions without presenting payment vouchers to justify the payments made in the transactions, an action that contravenes provisions of FR 601, which states “all payment entries in the cash book/accounts shall be vouched for on one of the prescribed treasury forms.”
Similarly, 10 MDAs embarked on international travels and trainings without requisite approval from the appropriate authorities as specified in Extant Circulars, thereby expending the sum of N2,660,420,450.05 on international travels despite strict restriction placed on it.
The report added that the sum of N2,789,475,927.84 was expended without providing supporting documents to the Payment Vouchers in 22 infractions in the MDAs.
It observed that the gross violation of extant regulations may lead to misappropriation and misappropriation of funds.
To curb the trend, it recommended that Minister of Finance should ensure that all MDAs are fully on the GIFMIS platform and that no payment is made without passing through the platform.
It advocated cancellation of use of manual payment vouchers and recommended appropriate sanctions be applied to all involved in instances of payments being made without the expected supporting documents and/or approvals.
The report also uncovered irregularities in contract award, execution and payment in 51 transactions, across several MDAs to a tune of N28.5 billion in 2017.
“We assessed the compliance of MDAs with Section 19 (a-j) of the Public Procurement Act (PPA) 2007 and other extant rules and regulations in relation to public procurement. We discovered 51 transactions, across several MDAs, that did not comply with the provisions of the Public Procurement Act, 2007,” it added.
In the course of reviewing MDAs Accountant, AGF said there was significant weaknesses in controls over financial reporting and consolidation, and limitations on the responsibilities of the Accountant General of the Federation.
The report said: “We reviewed the accounts consolidation process and the statement of responsibilities, the accounting policies and notes to the financial statements, and the following were observed:
“The Accountant-General, as an entity, does not take responsibility for the integrity and objectivity of the financial transactions reported within the financial statements.
“The position of the Accountant-General is that the responsibility for the integrity of the transactions reported within the financial records and trial balance extracted from GIFMIS rests with the relevant MDA.
“However, the MDAs submitted un-audited trial balances for consolidation. Majority of the MDAs failed to prepare stand-alone financial statements for audit.
“The Accountant-General is also not able to assert that all transactions are accurate, that all the stated assets and liabilities exist, and that beneficial ownership of the assets belongs to the MDAs.”
The report identified at least 35 MDAs with balances disclosed within the notes to the accounts in respect of overhead expenditure for the year ended 31st December, 2016 which it said were not captured in the same note for 2017.
The risk involved includes material misstatement in the financial statement.
To rectify the flaws, it recommended to Accountant-General to clarify in writing to all MDAs that the financial records presented by the MDAs for consolidation must be audited by the statutory external auditors before submission, as each Accounting Officer is responsible for the integrity and validity of the transactions of their respective entities.
“All audited financial statements and trial balances are to be submitted before the cut-off date,” it added.
APC: Early budget passage’ll fast-track development
The All Progressives Congress (APC) has commended the National Assembly for the early passage of the 2020 budget, stating that Nigerians would be the beneficiaries.
According to the party, the early passage of the budget would guarantee full implementation of many of the economic, infrastructural, social investments and other developmental programmes.
In the statement issued by the APC National Publicity Secretary, Lanre Issa-Onilu, the party said: “Nigerians will be the ultimate beneficiaries of the early budget passage, as it will guarantee full implementation of many of the economic, infrastructural, social investments and other developmental programmes contained in the budget and which will directly and positively impact on the people.
“Again, the early budget passage will allow for proper and better planning for both the government and the private sector. The entire financial architecture of our country would benefit from this. This includes project financing, contract execution timeline, project implementation and performance monitoring. It will make public procurement predictable, business climate stable, and give confidence to investors.”
The party urged the executive and legislature to take full advantage of this new dawn of cordial relations. “This will ultimately translate to better governance for the benefit of Nigerians,” the ruling party said.
Commending the National Assembly for early passage of the budget, Onilu said: “This is another solid milestone by the President Muhammadu Buhari-led APC administration.
“The party commends both chambers of the National Assembly – Senate and House of Representatives – for putting national interest before any other interest; a clean departure from the 8th National Assembly which used filibustering, political manipulation and other devious practices in their failed attempt to sabotage the APC government.
“We also commend President Buhari for showing leadership in the prompt submission of the 2020 budget and his clear directive to heads of Ministries, Departments and Agencies (MDAs) to suspend international travels to defend their respective budgets and provide the required cooperation to the National Assembly in order to ensure timely passage of the 2020 budget.”
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