News
FG Begin 40% Deduction From Vasities
The Federal Government has initiated the implementation of an automatic 40 percent deduction from the Internally Generated Revenues (IGR) of Federal Universities and other partially funded institutions nationwide. This policy aligns with the Finance Circular issued on December 20, 2021, under reference number FMFBNP/OTHERS/IGR/CRF/12/2021.Outlined in a letter dated October 17, 2023, entitled ‘Implementation of 40% Automatic Deduction from Internally Generated Revenue of Partially Funded Federal Government Institutions,’ the Accountant-General of the Federation, Mrs. Oluwatoyin Madein, communicated this decision to the universities. The directive was signed by the Director of Revenue and Investment at the Office of the Accountant-General of the Federation, Felix Ore-ofe Ogundairo, and approved by the Minister of Finance, Wale Edun.
The letter addressed to the vice-chancellors of the universities confirmed the implementation of a 40 percent automatic deduction from the Gross Internally Generated Revenue (IGR) of these institutions, effective from November 2023. It was stated that the deducted funds would be subject to the provisions of Section 62 of the Finance Act, 2020, restricting the annual budgetary expenditure from IGR of the partially funded federal government.
Ogundairo emphasized the necessity for compliance with the Finance Act, stating that partially funded agencies and parastatals are mandated to align their budget requirements with the specified provisions.
This decision follows the prior declaration by the Minister of Education, Tahir Mamman, granting universities full autonomy to explore various sources of financing for their activities.
Former governor of Kaduna State, Senator Ahmad Mohammed Makarfi, has lost his eldest son, Faisal Ahmad Makarfi.
Faisal, alongside two others, was reportedly involved in an auto crash along Zaria-Kaduna Expressway on their way from Makarfi town yesterday evening.
A source said Faisal died at a health facility on Zaria road while doctors were battling to save the lives of others.
Meanwhile, former lawmaker who represented Kaduna Central in the Senate, Comrade Shehu Sani has condoled with Makarfi’s family, following the tragic loss.
Sani, via his official X handle said “Just received the sad news of the death of Faisal the Son of HE Senator Ahmed Makarfi.May Allah grant him Aljanna firdausi.Amin.”
MATAWALLE TO AMAECHI: Stop Inciting Violence And Unrest Among The Nigerians
The Minister of State for Defence, Bello Muhammed Matawalle, has warned former Minister of Transportation, Rotimi Amaechi, not to inciting violence and unrest among the Nigerians.
”He urged Amaechi to desist from making inflammatory remarks that threaten the peace and stability of the nation.
Matawalle issued the warning in a statement by the Director of Public Relations and Information, Henshaw Ogubike, on Saturday.
According to the statement, the Minister expressed deep concern over the dangers posed by such rhetoric.
The statement said: “It is both reckless and irresponsible for a former public servant of Amaechi’s standing to incite Nigerians against their own government,
“At a time when President Bola Ahmed Tinubu is working tirelessly to address the challenges facing the nation through various reforms that are yielding results.
“It is absurd, preposterous, and shameful for anyone to exploit the genuine situation of our citizens for selfish political gain.”
The minister said President Bola Tinubu is committed to ensuring peace in every corner of the country.
OLU JAMES-RAPHEAL
We are giving back to society in a mega way to improve livelihood of the residents of the nation’s capital, by providing furnitures for schools, constructing state-of-the-art toilet facilities, digging borehole within the FCT, and other projects that will impact society positively.
This was revealed by the Publisher of MegaStar Magazine and Executive Director of the project, Adeniyi Ifetayo Moses in a statement he personally.
He said the leadership of the MegaStar Magazine as means of giving back to the society has resolved that after the Megastar Man of the Decade Award (MMOTDA) ceremony in Abuja, it will embark on the CSR in strategic locations in Abuja.
According to him the CSR he said will involve the construction of state-of-the-art toilet facilities in Abuja, borehole projects, provision of furniture for schools within the FCT and other projects that will impact the society.
The MMOTDA ceremony will be first-in-class as it will recognize prominent individuals for their contributions in nation-building.
The elaborate event will hold 1st December,2024 at the Prestigious Wells Carlton Hotel and Apartments.
Highlighting the level of preparations being put in place to ensure that it comes out topnotch, he said, “We have secured the Marquee at Wells Carlton Hotel and apartments and Megastar Man of the Decade Award will be hosted by CNN Senior Editor for Africa, Stephanie Busari.
“Additionally, we will have Teni Makanaki to entertain the audience and of course comedy spice in between by the leading Abuja comedians, MC Shotcut and MC Bob.”
Speaking on the category of individuals to be honoured, Ifetayo a luxury and lifestyle journalist said awardees will include corporate bodies and governments agencies who have worked tirelessly to improve the country’s fortunes in the last 10years.
It will also recognize posthumously individuals who are late, whose contributions still make waves in serving humanity till date.
There would also be Friends of Nigeria award category, designed for foreign nationals whose businesses or services to the Nigerian nation have made life easier and few Diasporans who have been good ambassadors to the country.
The award theme is, “The Nigeria of my Dream is Possible” and a seasoned good governance advocate has be