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Senate Queries CBN, Accountant-General over Failure to Account for ₦596bn Ecological Fund

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The Central Bank of Nigeria (CBN) and the Accountant General of the Federation on Thursday when they appeared before the Senate Committee on Public Accounts could not explain how ₦596 billion ecological fund was spent from 1999 to 2015.

While the accountant-general said the fund was domiciled in the apex bank, and that the money has been invested, the CBN pleaded for more time to submit records of the funds.

By asking for the records, the committee had acted upon the report by the Auditor-General of Federation (AuGF), Anthony Ayine, that between 1999 and 2015, a total of ₦596 billion was transferred from the treasury into the ecological fund account without proper accounting.

Mr Ayine had said, contrary to the provision of Section 5(4) of the Revenue Allocation Act which requires that an agency be established to manage the ecological fund, no agency had been established to manage it.

Rather, he added, the National Committee on Ecological Problems (NCEP) is the body responsible for handling ecological problems in the country.

NCEP is domiciled under the Office of the Secretary to the Government of the Federation (SGF) and has its Chairman as the Minister for Environment, Housing and Urban Development.

Thereafter, the Senate committee chairman, Matthew Urhoghide, summoned the Secretary General of the Federation (SGF), Boss Mustapha, while also asking the CBN to submit the statement of ecological fund account to the committee.

“The Central Bank should come and furnish us with the statement of account of the Ecological Fund. The SGF should come and brief us on the statement of account of the Ecological Fund,” Mr Urhoghide said.

Other queries

Meanwhile, the Custom Service and the Federal Inland Revenue Service (FIRS) were also indicted for contravening Pension Reform Act, 2014, which requires them to remit 5 per cent of their contributory pension to the National Pension Commission (PenCom).

The report by the auditor-general had among other things called on the accountant-general to “provide his investment ledger meant for the funds,” explain the reason the two agencies failed to comply with the provisions of the act while also sanctioning them as due.

The accountant-general, Ahmed Idris, in response, said: “The noncompliance of the remittance of 5 per cent of the contributory pension (by the custom service, for instance) was as a result of insufficient funds. Also, I wish to state, as funding improves, the service will comply accordingly.”

“We always engage the agencies themselves on the basis of issues raised by the auditor-general of the federation. This is the response from the Custom service as documented. We don’t want to start changing their responses.

“It’s like we are answering their own questions. Nigeria Customs, with due respect, stands to explain their responses. We are here on their behalf and we are reading their responses. Their response is a very dishonest one. If you are capable of paying salaries, why should it be difficult for you to pay 5 per cent.”

Displeased about the response of the Customs Service, Chairman Urhoghide said the committee would not take noncompliance to an act of parliament by agencies. However, due to the absence of representatives from the Custom Service, the matter was stood down.

“It’s unfortunate that the Nigerian Customs would tell us this. This is a contributory pension for their own retirees and they say they don’t have the money to contribute,” a dissatisfied Mr Urhoghide said.

“In fact the two of them — Custom Service and FIRS — get 7 per cent and 4 per cent for their own operations and they say they don’t have the money.

“Pay 5 per cent so that you can secure the future of your entire workers and you say you don’t have the money? It’s totally untrue. When other little organizations are making their contributions, you are the ones saying you don’t have the money.”

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IMF: Reveal Those Who ‘Stole’ 2% of Nigeria’s GDP, Atiku Tells Tinubu

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Former Vice President and presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, has asked President Bola Tinubu to reveal to Nigerians those who stole two per cent of the country’s Gross Domestic Product (GDP).

Atiku made the demand through a statement issed on Saturday by his spokesperson, Phrank Shaibu.

The demand followed revelations by the International Monetary Fund (IMF) that Nigeria omitted public expenditure equivalent to two per cent of its gross domestic product, GDP, from recent budgets.

Reacting, Atiku said the IMF’s revelation has exposed what appears to be a deeply entrenched system of institutional corruption under the Bola Tinubu administration.

According to him, the IMF’s disclosure, coming on the heels of the scandal surrounding the controversial Presidential Foreign Intervention Promotion Council (PFIPC), paints the picture of a government where public institutions are increasingly being converted into instruments for opaque financial dealings.

“The Constitution is not a book of suggestions. Section 80 is unequivocal: no money shall be withdrawn from the Consolidated Revenue Fund except in the manner prescribed by the National Assembly. Budgetary appropriation is not a ceremonial exercise; it is the legal authority upon which every kobo of public expenditure rests.

“If, as the IMF has revealed, expenditure amounting to two per cent of Nigeria’s GDP was omitted from the budget process, then Nigerians are entitled to one simple question: Who stole the missing two per cent of our GDP?

“This is no longer an accounting discrepancy. It is a constitutional, legal and moral scandal. Money does not simply disappear from a national budget. Somebody authorised it. Somebody approved it. Somebody spent it. Somebody benefited from it. Nigerians deserve to know who those people are.

“The question before the nation remains simple and unavoidable: Who stole the missing two per cent of Nigeria’s GDP? Until that question is honestly answered, every claim of transparency by this administration will ring hollow,” Atiku stated.

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The Power of One Man: How Erling Haaland’s Norway Ended Brazil’s World Cup Dream

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Erling Haaland scored two late goals to send Norway through to their first World Cup quarterfinal with a stunning 2-1 win over Brazil, which condemned the five-time champions to their earliest exit since 1990.

Norway goalkeeper Orjan Nyland produced a sensational display on Sunday and saved a first-half penalty from Bruno Guimaraes before Haaland struck twice in the last 11 minutes to stun Brazil at New York New Jersey Stadium.

Neymar pulled a goal back deep into stoppage time with Brazil’s second spot kick of the match.

Haaland’s brace took him level with Lionel Messi on seven goals for the tournament as Norway booked a showdown against England in Miami on July 11.

For Brazil, who hired Carlo Ancelotti in a bid to end a 24-year World Cup drought, it is the sixth straight tournament they have been knocked out by European opposition.

The last time Brazil failed to reach at least the quarterfinals came 36 years ago, when they lost 1-0 to archrivals Argentina in the last 16.

Gabriel Martinelli was rewarded for scoring the stoppage-time winner against Japan in the previous round, as the Arsenal winger replaced the injured Lucas Paqueta in the lone change to Brazil’s lineup.

Norway were boosted by the return of Julian Ryerson, the Borussia Dortmund defender fit again after missing the past two games with a thigh injury.

Patrick Berg thought he had given Norway the lead inside three minutes, but his effort was ruled out for offside in the build-up.

After a rocky start, Brazil won a penalty when Kristoffer Ajer clattered into Matheus Cunha in the box.

The Brazilians were left furious as referee Ismail Elfath initially waved away their appeals, but VAR intervened, and the decision was overturned.

Guimaraes stepped up, but Nyland guessed correctly, diving low to his left to push away the Newcastle midfielder’s tame penalty.

Nyland again came to Norway’s rescue, getting a crucial touch to Martinelli’s low drive as it flashed across goal, denying Guimaraes a simple tap-in.

When Martin Odegaard lost possession on the edge of his own box, Nyland once more saved Norway as he stuck out a leg to thwart Vinicius Junior.

Haaland had struggled to make a significant impact, but his strength created a glorious opening for Norway before half-time.

The striker caused problems for Gabriel Magalhaes and Marquinhos in the Brazil defence before the ball broke kindly for Odegaard, whose effort was well saved by Alisson.

Norway coach Stale Solbakken brought on Oscar Bobb and Andreas Schjelderup at the break for Antonio Nusa and Alexander Sorloth, but it was the introduction of Endrick that almost changed the game immediately.

Vinicius Junior slipped Endrick through on goal with a delightful outside-of-the-foot pass, only for the teenager to dink wide as Nyland came out to close him down.

Nyland continued to frustrate Brazil, producing a good save to claw away Rayan’s fierce strike before making another outstanding stop to deny Guimaraes, although the offside flag went up.

The arrival of Neymar in the 67th minute drew huge roars from the largely pro-Brazil crowd.

It was Norway who eventually broke the deadlock, though, and it came through an inevitable source.

Schjelderup whipped in a cross from the left and soared above Gabriel to power a header into the corner.

As Brazil desperately chased an equaliser, an incredible fingertip save from a back-pedalling Nyland prevented Ajer from looping the ball into his own net.

Haaland gave Norway breathing space as he hammered low into the corner from the edge of the box in the 90th minute.

It proved vital when Neymar converted a penalty in the 10th minute of stoppage time, preceded by an unseemly spat with Nyland, following an elbow on Casemiro.

Source: Aljazeera

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Trump Warns of Attack on American Identity As US Turns 250

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America turns 250 on Saturday — a landmark birthday that coincides with a time of deep national division and a president determined to seize the festive center stage.

The independence anniversary also comes in the middle of a brutal heatwave that has placed some 160 million Americans under major or extreme heat warnings, playing havoc with planned parades and block parties in towns and cities across much of the country.

But the searing temperatures have done little to deter President Donald Trump, who has gone to great lengths to ensure the event becomes, in large part, a celebration of himself.

Executive Branch

On Saturday evening, Trump will hold a huge campaign-style political rally on the National Mall in the capital, Washington, along with roaring military flyovers and what he has touted as the world’s biggest fireworks display.

“It’s going to be approximately 107 degrees (41C) out, and I’m going to go, and I’m going to make a really long speech — just to show that I can do anything,” he earlier said.

Late Friday, the president visited the Mount Rushmore National Monument for an address under the gaze of the giant granite heads of four of his legendary predecessors.

While he lauded American exceptionalism and praised the country’s past leaders, he said that the American identity was “under a renewed attack.”

Taking aim at domestic “radicals and extremists,” he charged that there was “a resurgence of the communist menace in our land.”

It is a theme that Trump has repeatedly hammered home in recent weeks, as the anti-establishment left of the Democratic Party carried a string of US primary victories.

The president has cast the rise of the left ahead of November’s midterm elections as “communists” on the rampage, posing a major “threat” to the country.

On Friday, Trump said there has been an attempt to “beat the American spirit out of us, alienate us from our history” in recent years.

While his language fell short of the more violent anti-immigrant rhetoric he has wielded in past speeches, the underlying message was clear.

“You do not have to be born here, but you do have to love what we have built,” he said.

The location of Trump’s speech was a fitting backdrop for a president who views himself as one of the greats.

Trump’s supporters have even introduced legislation to have his likeness chiseled beside those of George Washington, Thomas Jefferson, Abraham Lincoln, and Theodore Roosevelt.

For Americans, the 250th festivities offer a moment for reflection as well as celebration.

After two and a half centuries of triumphs and tragedies, slavery and freedom, civil war and world wars, multiple surveys indicate a nation divided about where it is and where it’s going.

A Quinnipiac University Poll showed 61 percent of Americans thought the US was not living up to the ideals stated in the Declaration of Independence — though even opinion on that was divided, with most Republicans thinking it did, and most Democrats thinking it didn’t.

“There’s too many people that hate on each other, steal from each other. They don’t love each other,” said Los Angeles-based artist Johnny Presley.

“I’m sick of the way this country treats people. I’m sick of the way this country treats its foreign neighbors,” he added. “I’m sick of a lot of damn things.”

For others, like American-Iranian Karisa Tavassoli, an educator in Atlanta, the basics of the American dream still ring true.

“I have safety, I have freedom of speech, I have freedom of religion, I can wear whatever I want as a woman,” she told AFP.

“There are many flaws here, but we have something very special that’s worthy of protecting,” she added.

Alonzo Coby, a member of the Shoshone-Bannock Tribes, is grateful to be able to celebrate 250 years of the United States.

“But I want people to remember that Native Americans have been here a lot longer than 250 years,” he said.

AFP

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