NEWS
ITF Summoned Over N12bn Discrepancy, NERC Pressed On N39bn Contract
In an effort to address financial discrepancies, the House of Representatives has mandated the Industrial Training Fund (ITF) to provide details regarding a budget difference of over N12 billion as of December 31, 2022.
The directive was issued by the chairman of the House Committee on Finance, Hon James Falake, when the management of the ITF appeared before it for the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper interactive session in Abuja.
Hon Falake voiced deep concern over the ITF management’s failure to engage in revenue generation from the 128,000 private and public quoted companies operating in Nigeria.
Following a thorough review of multiple financial statements submitted to the Committee, Mr. Faleke questioned the discrepancy in the ITF’s audited report, revealing a deficit exceeding N12 billion.
He pointed out that this variance was evident in the accrued budget actuals reported by the Auditor General for the same period.
Hon Faleke raised concerns about the ITF’s 2022 operating expenditure of N39.8 billion compared to total revenue of N45.1 billion, especially considering the organisation’s nationwide staff count of only 2,691.
He cautioned that if the ITF doesn’t explain the difference within 24 hours, the fund might be compelled to refund the entire N3 billion to government coffers.
Director of Finance and Accounts, ITF, Safiya Mansur, explained that the Fund derived its revenue from the one percent training contributions from both public and private companies.
She pointed out that out of the 128,000 registered contributing companies, only 57,000 are currently up to date with their contributions.
In an effort to enforce compliance, she noted that the ITF increased monitoring of non-compliant companies, some of which pursued legal action, ultimately resolved with the intervention of the previous house committee.
Additionally, Hon Falake pressed the Nigeria Electricity Regulatory Commission (NERC) to clarify the registration of a company with no delivery capacity yet allocated N39 billion for supplying prepaid meters.
In another development, the House further called on the Nigeria Communications Commission (NCC) to clarify, within 72 hours, the reasons behind its failure to remit approximately N291 billion in revenue to the Consolidated Revenue Fund of the Federation from January 2022 to September 2023.
The NCC explained that the N291 billion was utilized for broadband connection in public spaces like markets.
Hon Faleke highlighted that Ziglasis, a company contracted by the Federal Ministry of Power, received N39 billion for supplying prepaid meters but failed to deliver on the project despite receiving the funds.
The committee raised questions about the electricity regulator licensing a company that failed to fulfill its contractual obligations despite receiving taxpayers’ money.
The House committee additionally requested the Nigeria Communications Commission to clarify how it utilized N291 billion in 2022 for broadband, considering the expectation that the funds were to be deposited into the Consolidated Revenue Fund.
The committee chairman emphasized that the NCC must present the House with specific information about the broadband projects, including the locations of the three initiatives, and provide necessary details on how the N291 billion was allocated and spent.
NEWS
Borgu: ‘We Must Never Normalise the Killing of Nigerians’ — Peter Obi
Peter Obi has condemned the reported killing of some Nigerians abducted in Borgu, Niger State, saying the country must never normalise the killing of its citizens.
Obi made this known in a statement released via X on Wednesday, where he described the reports emerging from Borgu as increasingly difficult to comprehend and deeply painful.
He recalled that on August 27, he had expressed his anguish over the reported abduction of about 600 Nigerians, including women, children and elderly people, alongside the killing of others.
ALSO SEE: ‘You Should Not Have to Leave Nigeria to Succeed’ – Peter Obi Tells Nigerian Youth
According to him, his anguish has deepened following continuing reports of the gruesome killing of some of those abducted, while many others remain unaccounted for.
Obi also referred to another disturbing incident in which a bandit group reportedly beheaded a Nigerian and sent his severed head to a community leader over a ₦50 million levy.
“If the reported killing was intended to increase pressure on the community and extract more money for those still being held, then we must recognise the terrible reality before us: human life is being deliberately turned into a bargaining instrument,” he said.
The former Anambra State governor said one person being killed to terrorise an entire community while others are kept alive as hostages for more ransom amounts to the systematic devaluation of human life.
“These are not statistics. They are Nigerians. They are mothers, fathers, children, brothers, sisters and elderly people,” Obi said.
He questioned how long the country would continue to accept the kidnapping of hundreds of citizens, killings, criminal levies, displacement and ransom payments as unavoidable features of Nigerian life.
Obi said insecurity also affects families, farms, businesses, education and public confidence in government.
He called for intelligence-led operations, stronger community security, rapid response, better coordination and equipment for security forces, effective border protection and sustained action against criminal networks.
“The primary responsibility of government is the security and welfare of its citizens,” he said.
“While politicians prepare for elections, Nigerians are asking for something more fundamental: the right to live.”
Obi urged the government to match prayers with action, insisting that no criminal group should determine who lives or dies anywhere in Nigeria.
“Every Nigerian life matters. Every victim deserves justice. Every community deserves protection. Nigeria must restore security, justice, and the dignity of human life,” he added
NEWS
Atiku Meets Aisha Buhari, Says Nigeria Must Become Affordable Again
Former Vice President Atiku Abubakar has called for Nigeria to become more affordable, saying families across the country are being stretched by the rising cost of basic necessities.
Atiku made the call on Wednesday after receiving former First Lady Aisha Buhari, whose visit he described as warm and deeply appreciated.
SEE MORE: 2027: Atiku, Amaechi Meet David Mark-Led ADC Leadership
According to Atiku, the visit was also a reminder of the urgent responsibility before those seeking a better Nigeria: to put the welfare, dignity and future of Nigerians first.
“Across our country, families are being stretched by the rising cost of food, transport, education, healthcare and other basic necessities,” Atiku said.
He said Nigerians deserve an economy that rewards hard work, restores opportunity and allows every family to live with dignity and hope.
“That is the Nigeria we must build together, a country that works for its people again,” he said.
Atiku added “We must ease the burden, restore hope and Make Nigeria Affordable Again.”
NEWS
‘You Should Not Have to Leave Nigeria to Succeed’ – Peter Obi Tells Nigerian Youth
Former Anambra State Governor and NDC presidential candidate, Peter Obi, has said Nigerian youths should not have to leave the country before their talents are recognised or their dreams become achievable.
Obi stated this in a statement released on Wednesday as he concluded a four-day working visit to the United States.
According to him, the visit provided an opportunity to engage with prominent personalities and discuss issues concerning Nigeria, the United States and the future of Nigeria’s youthful population.
ALSO READ: Peter Obi Backs Dangote Refinery IPO, Urges Nigerians to Invest
Obi said one of the most fulfilling parts of the visit was meeting young Nigerian professionals in the US, including doctors, lawyers, engineers, technology professionals, entrepreneurs, educators and business leaders.
He said many of them were excelling in their respective fields while remaining committed to the development of Nigeria.
“My message to them was simple: you are not outsiders to Nigeria’s future; you are an important part of it,” Obi said.
He described the knowledge, experience and innovation of Nigerians in the diaspora as “enormous national assets,” stressing the need to build a country that welcomes their contributions and provides every Nigerian with a meaningful opportunity to participate in national development.
Obi said his vision of a “New Nigeria” was one where “the son or daughter of a nobody can become somebody without knowing anybody,” adding that a person’s background should not determine their destination.
He also called for Nigeria to move from consumption to production, while investing in education, healthcare and human capital, supporting businesses, creating productive jobs and building an economy that gives young Nigerians reasons to believe in their future at home.
“Our young people should not have to leave Nigeria before their talents are recognised or their dreams become possible,” he said.
Obi also disclosed that he engaged with diaspora media, including NoireTV Network and Adeola Talks, during the visit, where he shared his views on building a more productive, secure and prosperous Nigeria.
Describing the visit as fulfilling, Obi said the work of building the country must continue.
“Our challenges are great, but our potential is greater. We have the people, the talent, and the resources to build a country where opportunity is not determined by who you know or where you come from, but by what you can contribute,” he said.
“That is the Nigeria we must build together — a Nigeria that works for everyone.
“A New Nigeria is POssible.”





