Whistleblowers to Earn N210m on Every N5bn – FG

The Federal Government have revealed that whistleblowers whose information leads to recovery of  N1billion to N5 billion will receive 5 percent for the first N1billion and 4 percent of the remaining N4 billion.

The minister for Information and Culture, Alhaji Lai Muhammed revealed it in a statement yesterday. According to him, any amount from N5bn and above would attract 2.5% reward.

The minister also assured that the government would protect the identity of all whistleblowers, whether in the public or the private sector by keeping information they provide secret.

“Whistleblowers have nothing to fear, because the committee has put in place the necessary measures to safeguard those who give useful information. As a matter of fact, whistle-blowers have everything to gain and nothing to lose. What we have done by making this information public is to reassure potential whistleblowers that the plan to reward is real. We are not just saying we will pay all whistleblowers, but we are letting them know in advance what they are entitled to, once the information they provide leads to the recovery of looted funds.”


Tests Revealed President Buhari Needed a Longer Period of Rest – Femi Adesina

According to Femi Adesina, special adviser to President Buhari on media and publicity, Nigeria’s President, Muhammadu Buhari has thanked every Nigerian, both Muslim and Christian, who has been praying for his health.

Adesina disclosed this in a press statement today.
President Muhammadu Buhari thanks millions of Nigerians who have been sending good wishes and praying for his health and well-being in mosques and churches throughout the country.
The President is immensely grateful for the prayers, show of love and concern.
President Buhari wishes to reassure Nigerians that there is no cause for worry.
During his normal annual checkup, tests showed he needed a longer period of rest, necessitating the President staying longer than originally planned.”

FG Closes 20,000 Bank Accounts, Moves N5.2tn into TSA

Over 20,000 accounts with Deposit Money Banks belonging to Ministries, Departments and Agencies have been closed with a total sum of N5.24tn moved into the TSA, since the the commencement of the Treasury Single Account in September 2015.

The Accountant General of the Federation, Ali Ahmed Idris, disclosed the figures on Tuesday in Abuja, while speaking at the opening session of a two day retreat on TSA.

The event which was attended by Vice President Yemi Osinbajo, the Minister of Finance, Mrs Kemi Adeosun, the Secretary to the Government of the Federation, Mr Babachir Lawal among other top government officials had as its theme, “One year anniversary of Treasury Single Account: Benefits, challenges and way forward.”

Idris explained at the event that the TSA initiative has assisted the government to overcome the burden of indiscriminate borrowings by MDAs thus saving government a lot of bank charges associated with these borrowings.

For instance, he noted that prior to the full commencement of the TSA, the government was incurring about N4.7bn monthly on bank charges, adding that this has been eliminated through the TSA initiative.

The TSA is a platform which was used by the government to unify all its accounts by ensuring that all monies belonging to the federal government are kept with the Central Bank of Nigeria.

Trump’s National Security Adviser Resigns

President Donald Trump’s embattled national security adviser Michael Flynn resigned late Monday night, following reports that he had misled Vice President Mike Pence and other officials about his contacts with Russia.
In his resignation letter, Mr Flynn said he held numerous calls with the Russian ambassador during the transition and gave “incomplete information” about those discussions to Vice-President Mike Pence.

“In the course of my duties as the incoming national security adviser, I held numerous phone calls with foreign counterparts, ministers and ambassadors,” Mr Flynn said in his resignation letter.

“These calls were to facilitate a smooth transition and begin to build the necessary relationships between the President, his advisers and foreign leaders.

“Such calls are standard practice in any transition of this magnitude.

“Unfortunately, because of the fast pace of events, I inadvertently briefed the Vice-President elect and others with incomplete information regarding my phone calls with the Russian ambassador. I have sincerely apologised to the President and the Vice-President, and they have accepted my apology.”

Trump has already appointed retired Lieutenant General Keith Kellogg as the acting national security adviser.

How We’ll Get Nigeria Out of Recession – Osibanjo

The Vice President, Yemi Osinbajo on Wednesday divulged the programmes and plans of the Federal Government to salvage the economic recession in Nigeria.

He spoke on how empowerment of Nigerians is at the heart of the Social Investment Programmes of the Muhammadu Buhari administration, even though it also has a social welfare component to help the people survive as they are being empowered.

According to a statement by the Senior Special Assistant on Media and Publicity to the Office of the Vice President, Laolu Akande, Professor Osinbajo revealed this in Davos where he is led the Nigerian delegation to the yearly World Economic Forum (WEF).

He also disclosed that the Buhari administration is committed to investing more in infrastructure than in previous times by ensuring that 30 per cent of the budget goes into capital expenditure.

Mentioning that, “it is not difficult to get out of where we are if we understand why we are where we are.”

In addition, he stated that the government is working on how to tap into Nigeria’s huge Pension Fund to finance infrastructure in the country, but said “we have to first derisk” such financing models for infrastructure.

“The Vice President participated and spoke in several events … including a packed international Business Interaction Group of investors focused exclusively on Nigeria. He also spoke at a panel of Building Africa, joined by Rwandan President Paul Kagame, and televised live by the CNBC Africa.”

Military Jet Mistakenly Strikes IDP Camp, Presidency Reacts.

Many feared dead after a military plane mistakenly dropped a bomb inside the Rann IDP camp in Borno State.

The Rann IDP camp in Kala-balge Local Government Area caters for thousands of persons displaced by Boko Haram.

Brigadier General Rabe Abubakar who is the spokesperson of the army confirmed the tragic incident and said the military deeply regretted the error.

According to him, the military got intelligence report of Boko Haram and deployed ground and air troops and that it was the air troop that mistakenly dropped bomb on the IDP camp.

The Borno state government has sent a message to all hospitals in Maiduguri to be prepared to receive and treat injured people.

The President has also reacted to the military faux pas.

In a series of tweets, President Buhari commiserated with the victims and pledged the Federal Government support in handling the situation.

“I received with regret news that the Air Force, working to mop up Boko Haram insurgents, accidentally bombed a civilian community in Rann, Borno State.”

“I sympathise with the families of the dead, and with the injured, and the Government and people of Borno State.”

“The Federal Government will fully support the Borno State Government in dealing with the situation and attending to the victims.”

Vice President Osinbajo in Delta on Peace Mission

Yemi Osinbajo, Vice President of Nigeria visited Delta state with a Federal Government team on Monday as part of government’s efforts to resolve the lingering Niger Delta Crisis.

The purpose of the visit was said to engage with oil communities in the Delta state and other Niger Delta states in its bid to end renewed militancy in the region, which has led to dwindling oil output and national revenue.

On his team were General Paul Boroh Special Adviser to the President on Niger Delta and Dr. Ibe Kachukwu Minister of State, Petroleum Resources.

He was received by Delta state Governor Ifeanyi Okowa, members of the Delta state executive council and traditional rulers from Delta state at the Osubi airport near Warri, the business city of the state.

Many Feared Dead as Bomb Explodes in the University of Maiduguri Mosque

Bomb explosion has been reported at the mosque of the University of Maiduguri during fajr prayers (dawn prayers) this Monday, January 16.

According to reports, two Suicide Bombers sneaked into the University of Maiduguri, Borno state, and detonated heavy explosives at a mosque near Gate 4 and 5 of the institution.

This incident is said to have occurred at a time where students were writing their end of first semester exams.

The Public Relations Officer of the Institution, Mallam Ahmed Mohammed confirmed the suicide attacks in the University.

The number of casualties are still uncertain but a Professor has been named among those killed.



Jonathan Approved N80bn Special Funds for Dasuki

Former National Security Adviser, Col Sambo Dasuki, who is already on trial for alleged misappropriation of $2.2 billion dollars arm procurement deal, reportedly received over N80 billion to execute projects not related to his office.

According to some documents seen by Daily Trust revealed that former President Goodluck Jonathan approved the sum of N80.83 billion to the office of the NSA between May 20, 2013 and March 2015.

The documents revealed that payments were made in five batches from two special fund accounts namely – the Stabilisation and Residual Account and Development of Natural Resource Account. Some of the funds were spent on projects such as dam construction, protection and surveillance.

However, investigations show that the contracts didn’t follow due process even before the release of the fund. In the same vein, a visit to some dams in Abuja and some north eastern parts of Nigeria by some auditors have no proof of NSA staff or duty post at the dams even during the peak of the crises. The auditors also did not witness any helicopter landing platform at the dams.

FG Suspends Law That Stipulated Compulsory Retirement of General Overseers of Churches

The contentious Corporate Governance Code issued on October 17 by the Financial Reporting Council (FRC) of Nigeria that caused the abrupt retirement of Pastor Enoch Adeboye as Redeemed Christian Church of God (RCCG) General Overseer has been suspended.

The Minister for Industry, Trade and Investment, Okechuckwu Enelamah, made the disclosure in a statement on Monday.

The Financial Reporting Council (FRC) which guides all registered churches, mosques, and CSOs had in a new legal requirements stipulated  that founders or leaders of not-for-profit organizations would not head governance of their organisations for more than 20 years, and could not also pass baton to their family members.

While the code received positive reactions by people who consider it necessary to ensure accountability, it also suffered criticism by those expressing concerns it was targeting faith organisations, especially the Church.

The grumblings by the Church community seem to have yielded fruits as the Federal Government has suspended the law.

The statement by the minister read,

“The Corporate Governance Code issued by the Financial Reporting Council of Nigeria has been suspended, pending a detailed review, extensive consultation with stakeholders and reconstitution of the board of the FRC.”

“Government remains committed to restoring and enhancing market confidence and improving the Ease of Doing Business in Nigeria.”

“Government is committed to strengthening FRC and enhancing its capacity to fulfill its core mandate.”