Nigerians always want to have de cake de already eaten. Bunch of ingrates

During her time, unemployment rate was lower. Money was flowing around. Now 80% percent of our youths are without a tangible future.

wirinet:
This part summarizes the whole article;


The committee said the agencies chose to comply with a directive by Okonjo-Iweala via a memo dated November 11, 2011, with Reference Number BO/RVE/12235/259/VII/201 by the former minister “to remit 25 per cent only from the revenue generated and use the remaining 75 per cent, which is a clear violation of Section 120 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the Fiscal Responsibility Act 2007 as well as the establishment acts of some of these institutions.”

Section 162(1) of the 1999 Constitution specifically stated that all revenues of the Federation should be paid into the Federation Account. Where did Okonjo Iweala get the powers to direct government agencies to only remit 25% of their generated revenues.



So the senate should ask her why she broke the law.



Why will a seasoned former world bank president agree to convey a decision that is not only against best financial practices, but also unconstitutional.

Stop foaming at the mouth. The mechanics of a number of agencies do not allow for measures to be followed.

failed administration always looking fr whom to blame...

chloride6:


Stop foaming at the mouth. The mechanics of a number of agencies do not allow for measures to be followed.

Then such agencies should go back to the national assembly to either amend the constitution or make special provisions for them.
The power to allocate funds lies with the national assembly and not with the executive and certainly not with the MDAs.

wirinet:


Then such agencies should go back to the national assembly to either amend the constitution or make special provisions for them.
The power to allocate funds lies with the national assembly and not with the executive and certainly not with the MDAs.

Let the NNPC cease to work until the National Assembly passes a bill?

Na only igbo and Yoruba Dem do do nonsense to.... But hausa no go get query from them.

chloride6:


Let the NNPC cease to work until the National Assembly passes a bill?

That is the law.

So NNPC cannot prepare a budget of all the expenditure they are expecting to carry out for the financial year and present it to the national assembly?

In case of emergency, the NNPC cannot push the executive to ask for a supplementary budget?

So you advocate that the NNPC should remit only 25% of what the decide to declare as revenue and then keep the rest? Keep the rest for what exactly? Without a prepared budget, how will anyone know what the total expenditure of NNPC would be.

Now, what will NNPC use the 75% for? NNPC has no oil rigs, they are not operating any physical oil installation, it is the joint partner companies that carry out the oil exploitation, and the cost of oil exploration and exploitation is already built into the contract. NNPC's major expenditure is salaries, allowances and other recurrent expenditures, they carry out little capital expenditures which can easily be budgeted for.

wirinet:


What are you ranting about? Are you dyslexic? Can't you see that there is a committee called " Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities"

The committee was inaugurated in march 2017;

Clearly you have comprehension challenge. It was inaugurated but when ? The memo was issued but when ?

sammyj:
I have said this many times way back that Ngozi was sent by her pay slave master to corrupt and destroy our economy !!!!

Abeg get serious!

riyanxeally:
failed administration always looking fr whom to blame...

I think this government should simply continue with the practises of the past.

After all. It doesn't matter.

ah dey tell u thief na thief..

ashjay001:




I'm waiting for d grammer they will use in exempting d NASS from these measures!


Nobody mentioned how much d nass itself generated n remitted?!

Is the NASS an [/b]AGENCY[b] of the Federal Republic?

Which services do they offer that will lead to revenue generation?

undisputedgbola:


Is the NASS an [/b]AGENCY[b] of the Federal Republic?

Which services do they offer that will lead to revenue generation?

Would appreciate If u can explain it to me. Cos, d nass has been obstinate about paying into d TSA!? So, they definitely generate revenue, if they qualify to remit into d tsa. What kind of revenue is what I dont know.

wirinet:


What are you ranting about? Are you dyslexic? Can't you see that there is a committee called " Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities"

The committee was inaugurated in march 2017;

you are just wasting your time on that adult child.

wirinet:


What are you ranting about? Are you dyslexic? Can't you see that there is a committee called " Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities"

The committee was inaugurated in march 2017;

you are just wasting your time on that adult child.

ashjay001:



Would appreciate If u can explain it to me. Cos, d nass has been obstinate about paying into d TSA!? So, they definitely generate revenue, if they qualify to remit into d tsa. What kind of revenue is what I dont know.

"What kind of revenue is what I dont know"
That's the same state I am.
They are the legislative arm, permit me to say that there's no service they render 'to the public' that in-turn brings revenue to the purse of the Federal Govt; at least NO OFFICIAL service.
So I think, their refusal to remit into the TSA might be as a result of that.

Desyner:
Clearly you have comprehension challenge. It was inaugurated but when ? The memo was issued but when ?

the same senate today raised a committee to probe maina's re-instatement. then this stinking argument that they were trying to distract didn't come out of your mouth. the very same senate.

undisputedgbola:

"What kind of revenue is what I dont know"
That's the same state I am.
They are the legislative arm, permit me to say that there's no service they render 'to the public' that in-turn brings revenue to the purse of the Federal Govt; at least NO OFFICIAL service.
So I think, their refusal to remit into the TSA might be as a result of that.

Oh, dey do generate revenue!? Really didnt av a need to know, but will try find out now.


Those foreign invites, like d last one in europe, they will likely get paid to attend.

Banks n other biz using their premises?

ddippset:
the same senate today raised a committee to probe maina's re-instatement. then this stinking argument that they were trying to distract didn't come out of your mouth. the very same senate.

crawl back. Same senator who surppressed sentitive info.

Desyner:
Anytime the Buhari govt is exposed or under scrutiny is always coinciding with the arrival of one report exposing misrule of past admin. The pattern is becoming clear and boring to all.

So, the Nigerian Senate is also the Presidency/PMB?


Do you not know that these are independent and different arms of the Nigerian government.


Den don take illiteracy, ignorance, bitterness, anger, tribalism and bigotry swear for Igbos for real.

EternalTruths:
Did the Senate ask her why she took that decision to know if it was actually good for the economy.?

Was it good for the economy?

Brother, they just don't want to allow that woman called NOI to rest ever since they assumed office. They are just trying to tie their inability to govern or manage the economy to her name.

python1:
This bunch of legislooters should bloody get lost. NOI is one of the outstanding ministers in the immediate past administration you can't smear with that nonsense. Unfortunately, His Royal Cluelessness ignored her professional advice and preferred balling with the frog eyed thief to the detriment of the country.

The percentage of remittance was set to cub the leakages in NNPC at that time. Before the Memo, revenue generating agencies remit figures that are way lesser than the income. The Memo was to set a scale for the corruptions in those sectors. This statement from would enlighten you better on this.
"The NNPC, which has come under public scrutiny, especially with the revelation by the suspended Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi that the Corporation did not remit $10.8 billion to the federation account, has severally been criticised for lack of transparency in recent years. The NNPC was said to have lost $720 million in potential revenue to crude oil theft and production disruption during in January 2013, and incurred $1.22 billion in the repair and maintenance of its 5,000 kilometers of oil pipelines.
But if the words of Okonjo-Iweala is anything to go by, then the days of accountability for the State oil Corporation may just be around the corner. “We need to see the justification, with receipts, where the money has been spent. Where this is not so, NNPC will need to account for the money. We need all the money due to the Federation Account and reconciliation with NNPC on the money is under way,” she insisted.. To curb this, revenue-generating agencies must now remit at least 25 percent of their gross revenue, and tie their budget on the balance after remittance." (The Nation)

We should focus more on saving the nation on the intending doom befalling the nation and forget of the past. the problems we face now is weigh too much to be neglected. quick action is what we want.

Treasureadesola:
We should focus more on saving the nation on the intending doom befalling the nation and forget of the past. the problems we face now weigh too much to be neglected. quick action is what we want.

Did anyone ever imagine the gravity of corruption going on in most revenue generating institutions in the country that warranted the Memo? Before this Memo, there was no fixed percentage of revenue these institutions are to remit. They only push in the crumbs of their embezzlement. To end the madness in the country, NOI came up with a brilliant strategy to stop corruption: Each institution must remit at least 25% on the revenue generated. Since the excuse for them is expenditure, they were allowed to use the remaining 75% on expenditure. Intelligent. Nigeria needs more women and leaders like Okonjo Iweala.

The money she directed the agencies to pay was in favour of the government and yet this government sees no good in it knowing fully well that these agencies were privatized during Olusegun Obasanjo's administration.

the solution to all this is reforms. This administration keeps on blaming the last administration of misappropriation of fund. But let me ask you, how is this administration better off than last administration? How can kettle be calling pot black?

Recently money was taken from the country's treasury account. Who took the money? Where did the money go? These are things they should be looking out to get answers to instead of blaming people that are on their own.

She would be on death row if to say na China by now. Ugly woman.

I don't think the senate asked her any questions. They just jumped into conclusion.

EternalTruths:
Did the Senate ask her why she took that decision to know if it was actually good for the economy.?

Please don't talk like that. you have to look at the situations critically before passing judgments wrongly

tealaw:
She would be on death row if to say na China by now. Ugly woman.