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FOR the first five months of this year, the Federal Government has spent a total of N1.44 trillion, comprising of N1.03 trillion on Recurrent Expenditure, made of salaries and overheads, while the balance of N404 billion has been released for capital votes implementation.

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, gave this breakdown yesterday, at a briefing to debunk insinuations in some quarters that the Nigerian economy was broke and was no longer meeting her financial commitments.

Accompanied at the briefing by the Director-General of the Budget Office of the Federation, Dr. Bright Okogu and the Accountant-General of the Federation, Jonah Otunla, the minister explained that the little challenges encountered by the agencies of the Federal Government in accessing their funds was due to the current glitches arising from the full computerisation of government’s accounting system.

She also used the occasion to announce the appointment of an Acting Director-General at the Securities and Exchange Commission (SEC) in the person of Bolaji Ibrahim, who is the most senior Director at the SEC.

He is to resume duties on Monday, as “the Federal Government has declined to extend the tenure of the SEC board which tenure ends today.

Defending further the Federal Government’s liquidity position, Iweala said from the revenue profile of Government in the first five months, Government suffered a shortfall of N376 billion, which was raised by the Debt Management Office and maintained that there was no cause for alarm.

She added that N304 billion was released as first quarter capital votes, out which N239.8 billion, representing 39 per cent only had been accessed and utilised by MDAs so far and another sum of N100 billion released on Thursday, thus providing enough funds for MDAs to execute their budgetary plans, hence there was no reason for complaints by them.

Her words: “I am really completely puzzled by this issue of releases and cash-crunch and I want to say to you that that is not the case. We have just looked at utilization of the first quarter allocation that we released and we are at about 39 per cent utilisation. So there is still plenty of room for MDAs to spend.

“The reason it is 29 per cent now is because the last year ended in March this year and this utilisation is only till the end of last moth, May. But this is the last time we are going to extend our Budget cycle. From year 2013, there will be no more extension. We have begun the process of the fiscal year 2013 Budget because we want to address the pitfalls of delays in budgets implementation, so that we can have it passed in December this year.

“We are expecting utilisation to speed up in terms of implementation. But as at now, I can assure you that the issue of cash -crunch is not there; that releases have all their cash backing, which has not fully been utilised and we are about to have a cash management meeting now so we can release the second quarter allocation.

“We have equally released the recurrent allocation. And there has been no delay in paying our salaries and meeting other commitments. Now I want to say one thing, as you know, we are implementing an integrated payroll management system so that we can pay people directly instead of the old system that we had where we would send the money to their MDAs and they would take charge of the payments.

“But we are computerising the whole thing and it will make for more transparency. Now, induing the computerization, there are sometimes glitches with the software and connectivity and that has happen now and again so that a few civil servant may not get their salaries on time because of network connectivity or glitches in the system.

“The Accountant-General Office has worked so hard to bring down the number of staff who are affected from 15,000 to 3000 and now we have only 300 of them. And we are working very hard to ensure that that does not even arise. You can see that if you are paying about 100,000 people salaries and you have 300 that are affected, that is not so bad. But you know if your salary hasn’t been paid, you would notbfeel so good about it. So we are working really really hard to ensure that not even one person is affected.

“But there is no issue with the recurrent budget with regards to paying the bills of the Government. We are working with the people that install the software to correct this challenge and correct any abnormalities. We are also working with the banks, the individual banks where the accounts are.

“Again let me say one thing, there is no where in the world where you are changing the entire payroll management system that you do not have glitches, we are all aware of that. I am actually quite proud that as of this moment, we are working the glitches out one by one, so bear with us,” the minister further explained.

Otunla said the implementation of the of the integrated pay roll and the GIFMIS had save the country the sum of N14 billion as at April 2012 and fingered 43,000 ghost workers.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=89327:govt-spends-n144tr-in-five-months-generates-n129tr-&catid=31:business&Itemid=562

Go for Bulldog.

Thermocool is the king. Forget all these things that some people are saying. If a company produces 500 products and 2 goes bad when it gets to the end user, this is still within the accepted international failure rate.

When you give in to sex early in a relationship.

THE Chairman of the House of Representatives probe panel on fuel subsidy management, Farouk Lawal, on Wednesday failed to show up at the police headquarters for interrogation.

An highly placed source in the police told our correspondent that the Force had concluded arrangement to declare the lawmaker wanted.

Acording to the police, there is enough evidence to declare the lawmaker wanted over the allegation by billionaire businessman, Femi Otedola, that Lawan took $620,000 bribe from him.

The Special Task Force investigating the bribery allegation waited in vain for the dimunitive lawmaker at the Force headquarters, Abuja on Wednesday.

A member of the investigating team, who spoke to our correspondent in confidence, said the police had enough evidence against Lawan, including the video, which he said contained what transpired between him and Otedola.

The source said the STF would invite other oil marketers who allegedly gave bribes to Lawan, for interrogation.

“The police expect him (Lawan) to honour the invitation, but, anytime from now, we will declare him wanted, if he does not show up. We have enough evidence to proscute the case, but we believe we can handle the matter in a civilised manner and that is why we invited him to come and help us with information on the case,” the member of the investigating team said.

The source said that Lawan had since June 4, 2012, been invited by the police to assist them in the investigation into the bribery scam.

Otedola, who was also summoned by the police, appeared before the STF on Tuesday, where he was said to have written a detailed statement on his encounter with the lawmaker and how he gave the bribe to him.

Another source explained that investigators had watched the video of the encounter between Farouk and Otedola, adding that the STF was convinced that the lawmaker had “a big case” to answer.

“The audio and video evidence before us strongly showed that Lawan has a case to answer because he was graphically seen accepting the money. We also saw Boniface Emenalo in the video wearing ‘resource control’ attire and pocketing dollar bills,” another source confirmed.

Lawan had on Monday said the video was doctored and that what was seen was his ‘caricature.’

Sources within the police confided in our correspondent that the investigating team strongly believed that Lawan had fleeced other oil marketers in the course of executing his committee’s mandate.

Source: www.punchng.com

THE Chairman of the House of Representatives probe panel on fuel subsidy management, Farouk Lawal, on Wednesday failed to show up at the police headquarters for interrogation.

An highly placed source in the police told our correspondent that the Force had concluded arrangement to declare the lawmaker wanted.

Acording to the police, there is enough evidence to declare the lawmaker wanted over the allegation by billionaire businessman, Femi Otedola, that Lawan took $620,000 bribe from him.

The Special Task Force investigating the bribery allegation waited in vain for the dimunitive lawmaker at the Force headquarters, Abuja on Wednesday.

A member of the investigating team, who spoke to our correspondent in confidence, said the police had enough evidence against Lawan, including the video, which he said contained what transpired between him and Otedola.

The source said the STF would invite other oil marketers who allegedly gave bribes to Lawan, for interrogation.

“The police expect him (Lawan) to honour the invitation, but, anytime from now, we will declare him wanted, if he does not show up. We have enough evidence to proscute the case, but we believe we can handle the matter in a civilised manner and that is why we invited him to come and help us with information on the case,” the member of the investigating team said.

The source said that Lawan had since June 4, 2012, been invited by the police to assist them in the investigation into the bribery scam.

Otedola, who was also summoned by the police, appeared before the STF on Tuesday, where he was said to have written a detailed statement on his encounter with the lawmaker and how he gave the bribe to him.

Another source explained that investigators had watched the video of the encounter between Farouk and Otedola, adding that the STF was convinced that the lawmaker had “a big case” to answer.

“The audio and video evidence before us strongly showed that Lawan has a case to answer because he was graphically seen accepting the money. We also saw Boniface Emenalo in the video wearing ‘resource control’ attire and pocketing dollar bills,” another source confirmed.

Lawan had on Monday said the video was doctored and that what was seen was his ‘caricature.’

Sources within the police confided in our correspondent that the investigating team strongly believed that Lawan had fleeced other oil marketers in the course of executing his committee’s mandate.

Our correspondent gathered that the police were sure that Farouk had fleeced other oil marketers in the course of carrying out his committee assignment.

“Some marketers, who allegedly bribed the committee will also be invited for interrogation,” a member of the STF said.

The Acting Inspector-General of Police, Mohammed Abubakar, was said to have shown serious interest in seeing that the case reached a logical conclusion. But according to a senior police officer, the IG wanted due process to be followed, hence the invitation to both Lawan and Otedola.

STF investigators were said to be angry that Lawan was trying to delay their work by not honouring the invitation and keeping the exhibit away, but the IG was said to have insisted that due process be followed, no matter the time it took.

Detectives handling the case said the lawmaker had no reason to take the exhibit to the House chamber. They wonder whether the House of Representatives had become a police station where exhibits are kept.

Head of the STF, Ali Amodu, had, in a letter dated June 4, 2012, written to the Speaker of the House, Mr. Aminu Tambuwal, stated that the IGP had ordered a detailed criminal investigation into the bribery allegation.

He had also sought the assistance of the Speaker for Lawan to appear before the investigating team.

Before the June 4 letter, Amodu had written Lawan on May 16, requesting the money exhibit, names of witnesses and other material evidence from him.

Deputy Force Public Relations Officer, Mr. Frank Mba, could not be reached on Wednesday for comments. His mobile phone was switched off.


www.punchng.com/news/bribery-police-to-declare-farouk-lawan-wanted/

Changing the engine alone cannot affect the odometer reading.

However, if he replaces the instrument cluster with a new one, he might have something in the range of 0-5km as the odometer reading.Please note that this can only be justified if he is replacing the engine ith a new one.

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The Advert topic is misleading.
Someone has ealier told you that this is not Honda Academy but Bulldog yet you've not edited it.
Please do the needful.

Fuel Subsidy Probe: Otedola Confirms Bribe to Lawmakers
11 Jun 2012
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Mr. Femi Otedola



•SSS sends videotape to EFCC

By Yemi Ajayi in Lagos, Ike Abonyi, Onwuka Nzeshi and Onyebuchi Ezigbo in Abuja


The full details of the $3 million bribery scandal involving members of the House of Representatives Ad-hoc Committee on the Fuel Subsidy probe were revealed yesterday, as one of the major actors in the scandal has opened up on what transpired.


In an exclusive interview with THISDAY, chairman, Zenon Petroleum & Gas Ltd, Mr. Femi Otedola, who hitherto was suspected of being behind the $3 million bribery scandal, blew the lid on what transpired and how chairman of the ad-hoc committee, Hon. Farouk Lawan, and the secretary of the committee, Mr. Boniface Emenalo, had collected $620,000 from him in a sting operation masterminded by the security agencies.


The amount was part payment for the $3 million, which he alleged Lawan had demanded from him to exonerate Zenon Oil from the ad-hoc committee’s report.


As the scandal unfolds, it was learnt that operatives of the State Security Services have sent a video recording of the incident to the Economic and Financial Crimes Commission for further scrutiny and action.


Otedola, who was opening up on the issue for the first time, narrated how Lawan at the outset of the probe had approached him to get some insight into the workings of the downstream oil and gas sector.


Otedola said he obliged him and ensured that his managing directors of Forte Oil Plc and Zenon Oil appeared at the subsidy probe during its public hearing after both companies had been invited by the committee.--------


www.thisdayonline.com

Another thing I have observed is that the Bullet seems to be finer outside while the interior of Bulldog is finer than Bullet taking into consideration, the colour of the instrument cluster taht is green.

5,000km is recommended for most vehicles made in China and South Korea while 10,000km is ok for Japaneze vehicles like Honda, Toyota, Nissan etc even if they are American spec.10,000km is also recommended for French vehicles like Peugeot and Renault provided you are using an oil of good grade.
However, in Nigeria because of our harse wheather condition, most people prefer to service at 5,000km interval.

Please edit your post. It is not a bulldog but a bullet.

I think it is the bullet that is European edition while the bulldog is American. I think the Tiger Face bullet is a higher model compared to the 1997 bulldog.
As for the maintenance and reliability, they should be at par.

Clean ride.
Does it come with A/c and can it fly for N350k?.

gabon: I have a honda bullet for sale...

call me on 07035588336 or 08071753363

Please always check the main body of a post before commenting. The poster is asking for suggestion here and has not indicated any interest in buying any of the cars.
Probably, she needs this advise before taking a decision.

Call for viewing

Still for sale

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Yes, its still available but not too developed area

Still on

It is decent with water and separate pre-paid meter

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