Vanguard , TUESDAY, OCTOBER 30, 2012—15
Reps probe higher institutions' revenue, expenditure BY OKEY NDIRIBE & EMMAN OVUAKPORIE
BUJA—HOUSE of Representatives, yesterday, queried the manner the InternallyGenerated Revenue, IGR, of ministries, de-
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partments and agencies in the educational sector, including tertiary institutions, was being disbursed. The lawmakers raised alarm over a curious trend where virtually all tertiary institutions in the
country channel their revenue to paying utility bills and maintenance, a cost already captured in previous budgets. These were the major fall-outs of the Rose Oko-led House Committee on Education meeting on the 2013 budget defence by MDAs in the education sector.
In allocations to key sectors of the economy, education leads with N426.53 billion for 2013. In a submission to the House panel by the National Board for Technical Education, NBTE, and federal polytechnics, 22 institutions captured posted N4,949,075,112 billion in IGRs for 2012.
LAUNCH: From right— Mr. Nn’emeka Maduegbuna, member, Board of Trustees; Rita Melifonwu, Founder/CEO; Mr. Biodun Ogungbo, member, Board of Trustees; and Mr. Arthur Okolonji, member, Board of Trustees, all of Stroke Action Nigeria, at the media launch of the not-for-profit organisation in Lagos.
Stakeholders, Urhoghide in war Jonathan approves 5 of words over Edo PDP crisis new Perm BY HENRY UMORU “We guess his view was this because of my rejust to please an individual sponsibility. It is immaSecs BUJA—CRISIS rock so as to remain relevant.” ture to call for the disso-
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BY JOSEPH ERUNKE
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BUJA—PRESIDENT Goodluck Jonathan has approved the posting of five new permanent secretaries. He also redeployed others currently serving in various ministries. The newly posted permanent secretaries were sworn-in on Wednesday, October 17. A statement conveying the redeployment in Abuja, yesterday, signed by Mr. Tope Ajakaiye, Deputy Director, Press and Public Relations in the office of the Head of the Civil Service of the Federation, said all the handing and taking over formalities were to be completed on or before Wednesday, November 7. Some of the new permanent secretaries are Mr. Alhassan J.Gana, who is to serve in the office of the Secretary to the Government of the Federation (Cabinate Secretariat); Mr. Sunday J. Jegede, Office of the Secretary to the Government of the Federation (Political Affairs/Economic Affairs)and Dr. James Obiegbu.
ing Edo State chapter of Peoples Democratic Party, PDP, has deepened, with a faction loyal to former governor, Samuel Ogbemudia, and ex-Chief of General Staff, Admiral Mike Akhigbe (rtd), accusing the present executive’s position as a diversionary antic. It will be recalled that the group had last week called for the dissolution of Chief Dan Orbih-led State Executive Committee, but in a swift reaction, the State Publicity Secretary, Matthew Urhoghide, described the call as unnecessary and uncalled for. A statement, yesterday, by Prince Francis Iyasere and Omoba Ebuwa, concerned Edo PDP stakeholders, and made available to Vanguard, said: “We certainly do not want to join issues with Urhoghide, as he is not informed as to what is happening in the party. “First, it is not the matter of Iyasere. It is a matter of how PDP can win elections in Edo State. Urhoghide in his reaction could not provide alternative to the position canvassed by concerned Edo PDP stakeholders.
When contacted yesterday, Urhoghide said he was not joining issues with anybody. He said: “I am saying
lution of the PDP in Edo State at this time because the party is just coming out of election and the candidate is in court.”
The Reps, however, queried the figures presented by the polytechnics as low compared to avenues open to these institutions to generate revenue. The education panel directed all MDAs in the education sector to submit their current and detailed IGR profile for proper scrutiny. Chairman, House Committee on Education said: “The National Assembly continues to decry the unusually high budget of the recurrent expenditure to the detriment of the capital. “This exercise (budget scrutiny) should enable us to critically assess this and prune down areas of waste in the overhead budget and move them to capital.” The Chairman said the budget allocation to education sector was defective as little attention was paid to research and development. She said: “Example exist where almost all universities paid more attention to the construction of public schools, gates, fences in their 2013 capital expenditure proposals. “This is against expected focus on obsolete and sometimes dilapidated infrastructures and other teaching and learning materials needed to add value to the products of such tertiary institutions.”
FCMB, Citigroup sign N3.2bn loan deal BY MICHAEL EBOH IRST City Monument Bank Plc, FCMB, has secured a N3.16 billion (USD$20 million), three-year term loan from Citigroup Global Markets Limited, designed to help the bank increase its ability to lend to Small and Medium Enterprises, SMEs, in the country. The loan, according to a statement by Ogochukwu Ekezie, Vice President, Public Affairs Office, Nigeria & Ghana, is supported through a partial guarantee from Overseas Private Investment Corporation, OPIC, and will be channeled towards lending to already-identified SME customers of the bank. She explained that the deal was a pioneering OPIC SME Loan Guar-
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anty Facility in Nigeria and will provide significant employment opportunities within the SME sector of the economy. Ekezie said: “Overseas Private Investments Corporation, OPIC, is an agency of the United States Government that mobilises private capital. “Citibank acted as the Sole Arranger and Facility Agent on the deal.” Speaking at the signing ceremony, Mr. Ladi Balogun, Group Managing Director/Chief Executive Officer, FCMB, said: “This transaction is an innovative collaboration between Citi and FCMB. “By implication of the size of the loan, we will be deploying it towards the SME segment of our customer base. “Most importantly, this is an indication of the growing confidence the interna-
tional community has in the Nigerian financial sector following the reforms initiated by the Central Bank of Nigeria. “No doubt the sector’s risk rating and the country’s sovereign rating will continue to improve to the benefit of the financial sector and the economy at large.”
Presidency gets Ribadu's report Nov 2 BY HENRY UMORU BUJA—AS President Goodluck Jonathan expects the Mallam Nuhu Ribadu report on November 2, he, yesterday, warned the opposition against politicising his fight against corruption. He vowed that there would be no cover up in his fight against corruption and assured Nigerians that he would not cover up anyone found wanting in Mallam Nuhu Ribadu’s report. Jonathan disclosed this in a statement by his Senior Special Assistant on Public Affairs, Dr. Doyin Okupe. He said he was yet to receive the report but noted that the former Chairman, Economic and Financial Crimes Commission, EFCC, will submit the findings to him on Friday.
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EFCC tasks court BY IKECHUKWU NNOCHIRI BUJA—THE ongoing controversy over the $15 million allegedly offered by former Governor James Ibori of Delta State to Economic and Financial Crimes Commission, EFCC, in 2007, yesterday, assumed a fresh dimension as the anti-graft agency asked a Federal High Court in Abuja to summon elder statesman of Ijaw nation, Chief Edwin Clark, over alleged contempt of court. EFCC, which is currently seeking to take possession of the said bribe money, via an oral application made through its lead prosecutor, Mr. Rotimi Jacobs, accused Chief Clark of issuing prejudicial statements it said was capable of jeopardising the case before the court.
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