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ASSOCIATION of former Telecoms Employees of Nigeria, ATEN, has accused the Federal Ministry of Finance and the Executive Secretary of Pension Transitional Arrangement Directorate, PTAD, of fraud, corruption and an act of illegality.
Read More CHAIRMAN of the Independent National Electoral Commission, INEC, Prof. Yakuub Mamoud yesterday insisted that despite the delay in the passage of the commission’s budget for the conduct of the 2019 general elections in the country, the dates for the election remained sacrosanct. The INEC boss who said that he was not worried over the budget delay in the National Assembly, also stated that areas of doubts among the lawmakers have been cleared.
Read More ABUJA—Senate President, Dr Bukola Saraki, and Speaker of the House of Representatives, Yakubu Dogara, said, yesterday, that no date had been fixed for the reconvening of the National Assembly to consider the budget of Independent National Electoral Commission, INEC.
Read More A civil society organization, Centre for Social Justice, CSJ, Tuesday, accused the Presidency and the National Assembly of hoodwinking Nigerians and paying lip service to the timely passage of the country’s budget.
Read More In every community, there is a class of people profoundly dangerous to the rest. I don’t mean the criminals. For them we have punitive sanctions. I mean the leaders. Invariably the most dangerous people seek power.” Saul Bellow.
Read MoreThe Founder of Integrity Group, Livingstone Wechie, has urged the Rivers Government to make its budget implementation more open in line with fiscal democracy to carry the people along.
Read More Says naira devaluation will worsen public debt FSDH Merchant Bank has projected that the federal government will borrow up to N2 trillion to finance its budget in 2018, describing the nation’s debt service-to-revenue ratio, which rose to 79 percent in first quarter 2018, Q1’18, as very high and unsustainable. The bank also warned that the
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In every community, there is a class of people profoundly dangerous to the rest. I don’t mean the criminals. For them we have punitive
sanctions. I mean the leaders. Invariably the most dangerous people seek power.” Saul Bellow.
Two members of the Executive and Legislative arms of government clashed yesterday over the 2018 budget, with the Director of Budget, Mr. Ben Akabueze, accusing the National Assembly of feeding Nigerians with stories in bid to justify the unilateral distortion of the budget by the legislature.
Read More NIGERIA has just given itself a 2018 Appropriation Act of N9.12 Trillion with a Capital component of about 50 percent. This Budget limped out of the National Assembly, NASS, some N500 Billion higher than it went in. On the surface, these figures appear quite impressive.
Read More “The Chilean constitution mandates that the executive provide the legislature its budget 60 days before the end of the fiscal year. While this time- frame is comparable with a number of countries, the consequences of Chilean legislative inaction are especially significant. If the legislature does not approve the budget within 60 days, it automatically becomes law in its entirety, thus under- cutting the leverage of the parliament. I have no doubt that the same can be replicated here in Nigeria”
Read More While the Executive and its sympathisers claim that the National Assembly is meant to more or less rubber-stamp the President’s Appropriation Bill, the lawmakers counter-claim that as “representatives of the people” charged with “the power of the purse”, the document laid by the President is “a mere proposal”. They believe they have the right to make whatever changes they deem fit for the good of the people.
Read More THE huge sigh of relief, that the 2018 Federal budget was ultimately endorsed, as late as 20th June, by President Buhari, was unexpectedly muffled by allegations that the fiscal plan had once again being mangled and heavily padded by the National Assembly.
Read More No president can spend money unless authorized to do so by the Legislature. The power to spend is also not absolute, because it can be reviewed by legislative process
Read More The process of preparing the budget to become an Appropriation Bill is a shared responsibility between the executive and legislative arms of government.
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