Connect with us

Nation

A call to stop Gombe governor from mortgaging the state through debt

Published

on

Nigeria Gombe State map

We have been tracking the spate of borrowing by the Muhammadu Inuwa Yahaya-led Government in Gombe State and have noticed that it has borrowed well over N44 billion in just a little over two years and yet it is embarking on obtaining another loan of N35 billion from the Capital Market. Already, the Gombe State Executive Council has on October 6, 2021, given its approval for the loan and directed the Commissioner of Finance and Economic Planning “to write to the Honourable Minister of Finance to issue an ISPO of N665,605,647.90 monthly to allow deductions from State FAAC allocation in settlement of Principal and Interest accruing on the Suku through a sinking fund to be created for the purpose and the payment of the Financial Advisory. Service Fees of 0.005% of the sum of N175,000,000.00 to Finmal Finance Services Ltd”(a company allegedly owned by Umaru Kwarianga, Chairman Gombe Investments and Property Development Company and the Campaign Manager to Governor Muhammadu Inuwa Yahaya’s 2019 gubernatorial election).

What is particularly concerning to us is that these excessive borrowings that come with a crushing socioeconomic burden and impact on the state are not stimulated or urged by the urgent and realistic needs of the state. This irresponsible borrowing enthusiasm, if not checked or curbed, will end up crippling the state and subject its people to a long term of heinous and infernal economic slavery. The overarching condition for the justification of a state government to borrow is the ability of the proposed project to be self-sustaining, able to repay the loan and above all is integral and vital to the state’s fiscal and development framework. State debts should not be acquired at the whims and pleasure of state executives but for the sole purpose of fast-tracking development at a comparatively reasonable cost.

We call on the Governor of Gombe State to, within seven days of this publication, publish in at least one national daily newspaper and one other circulating within the state details of all the debts it has procured which details should include the amounts, the purpose for such debts and their link to the Development Agenda of the Government, Cost-Benefit Analysis showing the economic and social benefits of such borrowings, cashflow projection to ascertain the viability and sustainability of the purpose of borrowing, Audited Financial Statements for the past three consecutive years, the Appropriation Laws authorising the purposes for which the borrowings were utilised, how much that has been repaid or the plan for the repayment, the ratio of the state’s debt profile against its total revenue, the state’s Internally Generated Revenue, investments of the state (if any), evidence of attainment and maintenance of current credit rating, Debt Sustainability Analyses by the DMO, evidence of an up to date submitted to the DMO of Quarterly Domestic Debt Data and evidence of compliance with all the requirements of the Investment and Securities Act (ISA) 2007.

We are by this publication also putting all banks that have granted loans to the Gombe State Government or are in the processes of processing loans for the Gombe State Government or that are involved with the loans of the Gombe State Government in any manner whatsoever, on NOTICE that we shall institute legal processes to ensure that they face the full wrath of the law for any failure to comply with all regulatory requirements concerning such an involvement.

We also call on the following institutions and offices to pay attention to the borrowing appetite of the Government of Gombe State with a view that it complies with DMO domestic guidelines for state governments:

The Debt Management Office/Debt Management Bureau;
the Vice-President of the Federal Republic of Nigeria
the Minister of Finance;
the Attorney-General of the Federation;
the Minister responsible for national planning;
the Chief Economic Adviser to the President;
the Governor of the Central Bank of Nigeria; and
the Accountant-General of the Federation;

In the case of the DMO and the Minister of Finance, we state that it owes the people of Gombe State the abiding duty of ensuring that the Gombe State Government does not acquire any debt without complying with the letter and spirit of the Guidelines for such borrowing.

We are worried that despite the borrowing of humongous sums and of course the earnings of the state from FAAC and IGR, the state is getting poorer by the day, its infrastructure, public institutions and departments are deteriorating at an accelerating rate. The rising profiles of the education and health sectors of the state under the previous governments are dimming, and no aspect of the state can be said to have been positively impacted by this borrowing government. Indeed, the state is falling apart and the present borrowing spree is indicative of the cluelessness of Governor Yahaya and his team. The Government has on paper been awarding contracts but we state boldly that the reality on the ground is not reflective of such contracts.

Signed ___________________________

MOHAMMED SALISU ABDULLAHI

Trustee

Support PREMIUM TIMES’ journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401…





Nation

Christian Union, CAN To File Fresh Charges Against Nigerian Government Over Controversial Act

Published

on

The Christian Association of Nigeria, (CAN) says it will file a fresh suit against the Nigerian Government to prevent the implementation of certain provisions of the Companies and Allied Matters Act (CAMA) 2020. 

The Companies and Allied Matters Act (CAMA) 2020 was signed into law by President Muhammadu Buhari in August 2020.

Also, the leadership of CAN has called for mass prayers as they take the government up in a new legal battle.

CAN had filed the suit following its last year’s rejection of the CAMA 2020, especially as it applies to the regulatory roles the law gave the registrar of Corporate Affairs Commission (CAC) and a supervising minister over churches.

The judge, Inyang Ekwo, in a judgment, dismissed the suit over the failure of the plaintiff to comply with the law in the name used in filing the originating summons.

“Therefore, this application lacks merit and ought to be dismissed and I hereby make an order dismissing same,” he ruled.

The News Agency of Nigeria (NAN) reports that while the incorporated trustees of the CAN is the plaintiff in the suit, the CAC and the Minister of Industry, Trade and Investment are the 1st and 2nd defendants, respectively.

The plaintiff, in an originating summons, marked: FHC/ABJ/CS/244/2021, had prayed the court to determine “whether Section 839, subsections (1), (7) (a) and (10) of the Companies and Allied Matters Act (CAMA), 2020, is inconsistent with Sections 4(8), 6(6)(b) and 40 of the Nigerian constitution which guarantees the plaintiff’s right to freedom of association and the right to seek redress in court”.

It also urged the court to determine whether the provisions of Section 854 of the CAMA are inconsistent with section 39 of the Nigerian constitution which guarantees the right to freedom of expression.

However, during the proceedings, CAN brought an application, praying for an order to amend the originating summons and accompanying processes by replacing the word, “INCORPORATED” with “REGISTERED” in the name of the plaintiff in the suit such that it would read, “The Registered Trustees of the Christian Association of Nigeria.”

The application was filed on the grounds that the name expressed in its certificate of incorporation is the “Registered Trustees of the Christian Association of Nigeria” and not “Incorporated Trustees of Christian Association of Nigeria.”

Justice Inyang Ekwo stated that suing in the wrong name contrary to a statutory provision is statutory non-compliance and is not a mere misnomer to be corrected by the Court, as the court cannot re-write statutory provisions. Consequently, the suit was struck out.

But on Sunday, CAN’s General Secretary, Joseph Daramola, said the organisation would not like to join issues with the Court by going on appeal, because “it would further delay the case.”

Accordingly, he said the religious body has decided to take the option of refiling the case.

“Our lawyers are currently preparing to institute a fresh suit using the proper name of the Plaintiff (CAN) as it is on the Certificate of Incorporation. This is the truth of the matter now. 

“What happened in the court was just a temporary setback and by the grace of God, we have overcome it. Our prayers are for the unborn generations and nothing will discourage us from pursuing this case to the logical conclusion,” Daramola stated.

Amongst other reliefs, CAN would be asking the Court to determine “whether Section 839, subsections (1), (7) (a) and (10) of the Companies and Allied Matters Act (CAMA), 2020, is inconsistent with Sections 4(8), 6(6)(b) and 40 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) which guarantees the plaintiff’s right to freedom of association and the right to seek redress in court.

 “Whether the provision of Section 854 of the CAMA is inconsistent with Section 39 of the CFRN which guarantees the right to freedom of expression.”

It would also be seeking: “An order striking down Sections 839(1), (7) (a) & (10), 842(1) and (2), 843, 851 and 854 of the CAMA for being unconstitutional.

“A declaration that Section 17(2) (a) & (d) of the CAMA demand an impossible and impracticable action; thus, void.

“An Order striking down Section 17 (2) (a) & (d) of the CAMA for being impracticable and unknown to Law.”

Continue Reading

Nation

Parents bury children found dead in vehicle, amidst tears

Published

on

Mother of three of the deceased children in red

The parents of the eight children that were found dead in a Lexus SUV at Adelayo Street, Jah-Micheal Agunaje area of Badagry, have buried them amidst tears.

The eight children were found dead in a vehicle parked in front of the owner’s compound on Saturday evening.

The children were buried according to Islamic rites on Sunday morning, without an autopsy conducted on them.

Mark Akande, the founder of Society for Youth Advancement and Creativity Initiative (SHACo), who visited the scene on Sunday, gathered that the incident happened around 5p.m. on Saturday and the children were buried after attempts to conduct autopsy on them failed.

The parents reportedly took the children to the General Hospital at Badagry, and the Lagos University Teaching Hospital (LUTH), where they were told to bring N100, 000 each for the hospital to conduct autopsy on the children.

“The parents decided not to take them for autopsy at LUTH. They said it is against Islamic laws to spend money on the dead,” Mr Akande said.

The police spokesperson, Adekunle Ajisebutu, earlier confirmed that the children reportedly entered a parked vehicle while playing around and died from suffocation.

One of the elders in the neighbourhood, who declined giving his name, said the children were supposed to be at Islamic lessons at the time of the incident, and no one suspected that they had entered a parked vehicle.

Afsat Isiaka, a mother who lost three children to the incident, was found in a mourning state amidst sympathisers in her compound, which was close to where the incident happened.

“I know no wetin happen, my second sef go find the children, the woman sef stay inside compound and call me say make I come, na so I find the children inside car, all of children don die, ” she said in pidgin English.

She said the children were foaming in the mouth by the time they were brought down from the vehicle.

Her children, Abdulwahab Isiaka, Yakub Isiaka, and Zainab Isiaka were 11, 5 and 3 years old respectively.

Ibrahim Jubril, a father to two of the deceased children, was also found surrounded by sympathisers in his compound.

Father of two deceased children, Ibrahim Jubril
Father of two deceased children, Ibrahim Jubril

Mr Jubril said they had already recovered the bodies of the children before he got to the scene.

“They said they wan carry them to hospital and me I be Muslim. We carried then to General Hospital, that same yesterday, police gave us paper, they say they want to transfer us to Ikeja, LUTH. They said each person is N100, 000 to check, that is N800, 000 for eight of them,” he said.

He said he has written a statement at the police station with respect to the incident.

TEXEM

Mr Jubril’s immediate brother also lost two children to the incident, while one of the eight children is the grandson of the owner of the vehicle, PREMIUM TIMES gathered.

The woman in whose car the children were found dead is currently in custody of the Area K Police Command in Badagry, Lagos.

Mr Ajisebutu, the police spokesperson, said the police is investigating the matter and would carry the public along on the report.

Support PREMIUM TIMES’ journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401…





PT Mag Campaign AD

Continue Reading

Nation

Shock for Scott Morrison as poll puts Labor ahead 53 to 47 and Anthony Albanese more popular

Published

on

51372619 10277971 image a 8 1638740156454

Shock poll shows Australians now prefer Anthony Albanese’s Labor to win government in 2022 – with Albo now more popular than the PM

  • The Morrison Liberal government is behind in the latest poll ahead of election 
  • Voters preferred Labor to the Coalition by a margin of 53 to 47 per cent  
  • Anthony Albanese is also gaining increased support for PM according to poll  

The latest Newspoll shows voters favour Labor to win the next federal election.

It also shows Opposition Leader Anthony Albanese has enjoyed a lead in net approval over Prime Minister Scott Morrison for the first time since March last year.

The poll conducted for The Australian shows 47 per cent of voters believe Labor will form the next government following an election expected in March or May.

Just 37 per cent expect the Coalition to be returned for a fourth term.

Labor leads the two-party preferred race over the Coalition, 53 to 47 per cent, on a primary vote of 38 per cent.

Scott Morrison (pictured at the Bathurst 1000 on the weekend) has experienced a drop in net approval while Anthony Albanese has seen a gain 

The Coalition primary vote fell a point to 36 per cent while the Greens also lost a point to finish the year on 10 per cent.

Pauline Hanson’s One Nation improved a point to 3 per cent with other minor parties also gaining a point to 13 per cent.

Scott Morrison dropped a point as the preferred prime ­minister to 45 per cent and Opposition Leader Anthony ­Albanese lost two points to 34 per cent while 19 per cent were uncommitted.

The poll showed 44 per cent of those polled were satisfied with Mr Morrison’s performance while 52 per cent were dissatisfied – a net negative ­approval rating of minus eight.

Mr Albanese’s approval rating lifted two points to 39 per cent while those dissatisfied fell three points to 45 per cent – a net negative approval rating of minus six.

This is the first time Mr Albanese has enjoyed a lead in net approval since March last year.

Advertisement

Continue Reading

Trending

NgGossips.com