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Reps Probe Revenue Leakages At Free Trade Zones
The House of Representatives has mandated its Committee on Commerce to investigate the activities of the Free Trade Zones, the Oil and the Gas Free Trade Zones to determine revenue leakages.
The committee is to carry out an analytical overview of the operations of the Nigerian Exporting Processing Free Zone Authority (NEPZA) and Oil and Gas Free Trade Zone Authority (OGFTZA).
The decision was reached on the heels of a motion captioned “Investigation into the Operations and Management of the Export Free Zones Authorities in Nigeria”, moved at plenary by Hon. Ntufam Eta Mbora.
In his motion, Mbora noted that the aims of establishing free trade zones were for the provisions of foreign exchange earnings, job creations, revenue generation, attract direct foreign investment to enhance knowledge, technology transfer, grants, requisite permits and licenses to conduct approved enterprises within the free trade zones, and to regulate, supervise, manage, control and coordinate the activities of free trade zones in the country.
He said that the series of the country’s growth and economic indices have continually slowed down because of over-reliance on the oil sector and deliberate abandonment of the non-oil sectors by successive governments and negligence of trade and commerce.
Mbora said that oil and gas remained a veritable sector to sustain the economy, particularly in the face of dwindling revenue from the oil sector and the Coronavirus pandemic.
“Billions of naira have been expended into the Free Trade Zones and Oil and Gas Free Trade Zone on their establishment and huge budgetary allocations have been provided in the past fifteen years without commensurate result in terms of infrastructural development and achieving the aims for which they were established.
“Since the inception of these Free Trade Zones, given the volume of investments by the Federal Government of Nigeria and the enormous revenues accruing to the operating registered companies in the designated free trade zones which is in the neighbourhood of N300million without proper monitoring, maintenance of proper transfer pricing audit documentation resulting in short-changing the country.
“Inconsistencies and concerted collaborations at the Oil and Gas Free Trade Zones have resulted in numerous shortages and leakages on effective and correct revenue collection, diversion, and non-remittance to appropriate Federal Government agencies”, he said.
Adopting the motion, the House gave the committee six weeks within which to do the assignment and report back for further legislative action.
News
NAFDAC Busts Fake Alcohol Factory In Lagos
The National Agency for Food and Drug Administration and Control (NAFDAC) has dismantled a makeshift factory in the Oke Arin market, Lagos Island, where counterfeit alcoholic beverages were being illegally produced.
According to a statement via its X, yesterday, the agency, acting on a complaint, conducted a raid that led to the arrest of three men and the seizure of counterfeit drinks, empty bottles, and packaging materials.
According to NAFDAC, the seized products, which included fake versions of popular alcoholic brands, were valued at over ¦ 180 million.
The main suspect, Mr. Tochukwu Henry, confessed to refilling bottles labelled as Rémy Martin with ST-Rémy contents.
He also admitted to employing two other individuals to assist in the operation.
The statement said, “NAFDAC has raided a makeshift factory in Oke Arin market, Lagos Island, following a complaint about the illegal production of alcoholic beverages. Three men were apprehended and various counterfeit alcoholic drinks, empty bottles, and packaging materials were seized.
“The products, valued at over ¦ 180 million, included fake versions of popular brands. The main suspect, Mr. Tochukwu Henry, confessed to refilling bottles labelled as Rémy Martin with ST-Rémy contents and employing two others to assist in the illicit operation.
“All suspects are currently in custody for further investigation. NAFDAC calls on the public to remain vigilant, especially during the festive season, and to report suspicious activities and products to the nearest NAFDAC office.”
News
Reps Give FG 72 Hours To Unfreeze NSIPA’s Accounts
The House of Representatives has called on the Federal Government to direct the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to within 72 hours, unfreeze the accounts of the National Social Investment Agency (NSIPA), given its role in addressing hunger and poverty.
The position of the Green Chamber was a sequel to the adoption of a motion at yesterday’s plenary sponsored by the Deputy Speaker, Benjamin Kalu, and 20 other lawmakers.
Allegations of corruption and shady deals compelled the President Bola Tinubu-led government to freeze the accounts of the agency, to give room for a total overhauling of its programmes.
While calling for support for the motion yesterday, Kalu emphasised that NSIPA oversees critical social intervention programmes such as Grant for Vulnerable Groups, N-Power, the Government Enterprise and Empowerment Programme, Conditional Cash Transfers and the National Home-Grown School Feeding Programme, among others.
He also noted that the Renewed Hope Agenda of the Tinubu-led government emphasises the mandate of the NSIPA to cushion the effect of economic shocks on the poor and the vulnerable.
He said, “The House is disturbed that despite the programmes of NSIPA being vital for poverty alleviation, youth empowerment, and economic inclusivity in Nigeria; the agency’s functionality has been hindered due to administrative bottlenecks, insufficient funding and frozen accounts.
“The House is worried that the effort of the government and the laudable programmes of NSIPA were truncated by alleged financial mismanagement by handlers of the programmes leading to the suspension of programmes and freezing of the agency’s account and subsequent investigation by anti-corruption and security agencies.
“The House is concerned that the smooth operations of the programmes and the fulfilment of the mandate of NSIPA are hindered due to the suspension of the accounts of the agency and other administrative bottlenecks, which has remained in force even more than three months after the President reconstituted the new management of NSIPA.”
Kalu who represents Bende Federal Constituency, Abia State, further said the frozen accounts of the agency contradict the President’s mandate on poverty alleviation by hindering and halting social welfare programs, including conditional cash transfers, small business grants, and school feeding initiatives.
This, according to him undermines “Economic empowerment initiatives, delays in achieving Sustainable Development Goals and cause erosion of public confidence and administrative paralysis in fighting poverty, among other things.”
Kalu noted that following the suspension of accounts of the NSIPA, “The N-Power programme has been so negatively affected that 395,731 beneficiaries are owed outstanding stipends to the tune of N81.32bn; a fund already captured under the 2023 and 2024 amended Appropriation Acts, which will lapse by the year ending December 31, 2024.”
Following the adoption of the motion, the House urged the President to mandate the minister of finance and the Coordinating Minister of the Economy to “ensure that all frozen accounts of the National Social Investment Programmes Agency are unfrozen within 72 hours to enable the smooth recommencement of all the programmes.”
The minister was also tasked to ensure the release of funds to NSIPA for the payment of outstanding stipends owed to 395,731 N-Power beneficiaries nationwide without further delay.
It further mandated the Minister of Humanitarian Affairs and Poverty Reduction, Dr Yusuf Sununu, to ensure that all the administrative bottlenecks hindering the smooth operations of all programmes of NSIPA are immediately removed.
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Rivers Dep Gov Bags Award
Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has expressed gratitude to the Nigerian Institute of Food Science and Technology for upgrading her to the status of a Fellow by the President and Governing Council of the Institute.
Prof Odu expressed this when a delegation of Fellows and other members of the Institute visited her at the Government House in Port Harcourt, yesterday to perform her Investiture as a Fellow of the Institute of Food Science and Technology.
Prof. Odu said that what the Institute has done for her is exceptional, adding that she feels so humbled by their kind gesture and proud of the Institute which she described as a trailblazer.
I want to thank our Emeritus Prof. Simeon Achinewhu for keeping the flag flying and I am pleased to be a part of this family”. Prof. Odu further stressed.
The Deputy Governor who called for continuous prayers for the success of the Governor Fubara-led Administration, noted that prayers were their greatest defense in times of trouble.
“This Administration needs God to sustain us, we need God to direct our steps, we need God to navigate especially when you have challenges, God has done it thus far and I believe the good Lord shall lead us until we finish when he wants us to finish.” The Deputy Governor further stressed.
Also speaking the leader of the delegation, Emeritus Prof. Simeon Achinewhu, said they were in the Government House to decorate the Deputy Governor as a Fellow of the Nigerian Institute of Food Science and Technology, in line with the directive of the national body of the association to formally present the Deputy Governor with her award and certificate of membership, following are indelible contributions to the growth of the association.
Earlier, the Chairman South -East Chapter, of the Nigerian Institute of Food Science and Technology, Dr. Bariwere Samuel, while assuring the State Government of its readiness to partner with the State on its food safety programs, said it is willing to deploy its expertise and resources to compliment the State Government’s efforts in ensuring the availability of safe and nutritious food for its citizens.
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