Splash Instablog

Fifteen Nigerian states may go bankrupt due to their poor Internally Generated Revenues (IGR) in 2015, which were as low as 10% of their Federation Account Allocations (FAA) in one year from June 2015 to May 2016, an investigation by the Economic Confidential has shown. According to the report, the IGR of Lagos State of N268 billion is higher than that of 32 States combined together, excluding Rivers, Delta and Ogun whose IGRs are very impressive. The 32 other states merely generated a total of N257 billion in 2015, it said. In its latest report on IGRs, Economic Confidential, an economic intelligence magazine, revealed the total allocation each state in Nigeria received from the Federation Account Allocation (FAA) between June 2015 to May 2016 which signified one year of the President Muhammadu Buhari adminsitration. As revealed in the report, only Lagos State generated more revenue than its allocation from the Federation Account by 150% and no other state has upto 100% o...

The Senate Deputy Minority Whip, who issued a statement on behalf of the Ekiti lawmakers' caucus cautioned the Economic and Financial Crimes Commission (EFCC), against allowing itself to be used in intimidating politicians. The lawmakers also condemned the actions of the EFCC in freezing the bank accounts belonging to Ekiti state Governor saying it is an affront to the constitution of the Federal Republic of Nigeria. “ Our attention has been drawn to the freezing of the bank accounts belonging to Ekiti State governor, Mr Ayodele Fayose by the EFCC and we wish to state that the actions violates the constitution of Nigeria, which conferred immunity on the governor and the EFCC Act, which mandates the Commission to obtain a valid court order before bank accounts of anyone can be frozen, ” the statement began. Continuing, the statement read, “ It is trite that the condition precedent to be fulfilled by the EFCC to fully exercise its powers as enshrined in section 34(1) of the...

According to a report by SaharaReporters, the EFCC has filed the suit bordering on money laundering against Amosu alongside Air Vice-Marshal Jacob Bola Adigun and Air Commodore Gbadebo Owodunni Olugbenga . The Air Chiefs aren't all by themselves as the EFCC has also joined Delfina Oil and Gas Limited, Mcallan Oil And Gas Limited, Hebron Housing and Properties Company Limited, Trapezites BDC, Fonds and Pricey Limited, Deegee Oil and Gas Limited, Timsegg Investment Limited and Solomon Health Care Limited as defendants in the suit. It was also reported that the anti-graft agency accused the defendants of converting N21 billion from the Nigerian Air Force (NAF) around March 5, 2014, in Lagos State. The agency claimed that the defendants reasonably ought to have known, that the concealed and converted funds form part of the proceeds of an unlawful act. Prosecuting counsel, Rotimi Oyedepo Isiokuwa said 42 witnesses will testify against the defendants in the case when the tr...

In a society where female children are not given their due rights as regards their inheritance, a reader, Abiodun, a 42-year-old woman, thinks she has the right to partake in the sharing of her late father's properties, despite insistence by some members of her family that female children are not entitled to such. But 72% of Pulse Nigeria Poll voters believe all children are supposed to have a share in their parents' will, regardless of their gender. Read Abiodun's letter here: "My name is Abiodun, a 42-year-old woman. I am married with three children. I happen to come from a wealthy family where my late father inherited great wealth and landed properties from his family which naturally, should be shared amongst his children. My father had four wives and 26 children, with me being the seventh child from the third wife. In all, we have 14 daughters from all the wives but after the demise of my father 10 years ago, some of our family elders have refused to ...