The Federal House of Representatives Public Accounts Committee intensified its scrutiny of the Bank of Industry regarding the unrecovered Micro, Small, and Medium Enterprises (MSME) offtake grants from 19,538 Nigerians, as part of the ongoing probe into the alleged mismanagement of COVID-19 intervention funds by various Ministries, Departments, and Agencies (MDAs).

Chaired by Honorable Bamidele Salam, the Committee directed the Bank’s management to furnish it with pertinent documents detailing all disbursements related to the COVID-19 funds.

Represented by the Executive Director of Small and Medium Enterprises, Mr. Omar Shekarau, the Managing Director of the Bank, Mr. Olasupo Olusi, faced questioning over the COVID-19 fund management, which the Bank oversees on behalf of the Ministry of Trade and Industry and the National Export Promotion Council (NEPC).

According to Shekarau, the Bank received a total of N75 billion on behalf of the Ministry of Trade and Industry, with disbursements distributed across various tracks of implementation. These included payroll support, general MSME grants, artisan and transporter support, MSME offtake, and CAC formalization support.

Highlighting a concerning issue, Shekarau revealed, “Under the Guaranteed Offtake Scheme, 19,538 beneficiaries failed to deliver their items after receiving the 30 percent mobilization fee, thereby breaching the contract with the Federal Government.”

He emphasized that beneficiaries of the intervention programs encompassed artisans, transporters, small business owners, as well as private and public school staff.

In response to queries regarding the recovery mechanism for the MSME offtake grants, Shekarau stated that the Small and Medium Enterprises Development Agency is responsible for the loan recovery process.

Amidst the proceedings, when the Bank failed to substantiate its claims with adequate documentation, the Committee unanimously resolved that the Agency should promptly submit all relevant documents pertaining to the disbursements during the specified period.

The House’s rigorous scrutiny underscores the imperative of accountability and transparency in the management of public funds, particularly in times of crisis such as the COVID-19 pandemic.

In a significant legal ruling, a Federal High Court in Abuja has dismissed a suit brought forth by the Seventh Day Adventist Church (SDA), which sought to halt the conduct of elections and examinations on Saturdays.

Presiding Judge James Omotoso delivered the verdict on Wednesday, labeling the suit as “frivolous, vexatious, irritating, baseless, and devoid of merit.”

Justice Omotoso emphasized that the fundamental rights purportedly claimed by the Church were not under threat and could not be curtailed by government policies.

The court further noted that the Seventh Day Adventist Church represents a minority religious denomination in Nigeria and cannot impose its religious doctrine on the majority of other religious groups in the country.

The suit, initiated by the SDA, argued that Saturday constitutes their Sabbath day of worship and that conducting elections and examinations on this day violates the fundamental rights of its members.

Despite the SDA’s plea to prohibit the Federal Government from scheduling such activities on Saturdays to preserve their right to worship, the court ruled against the motion.

The dismissal of the suit signifies a legal precedent affirming the secular nature of Nigeria’s governance system and upholds the principle of religious neutrality in public affairs.

The House of Representatives has summoned Dangote, Bua, and other cement manufacturers in Nigeria over alleged arbitrary increases in the price of cement. The House also mandated its Committees on Solid Minerals Development, Commerce, Industry, and Special Duties to investigate the matter.

The summons follows a motion brought by Hon. Gaza Jonathan Gbefwi and Hon. Ademorin Kuye during plenary in Abuja. The lawmakers expressed concern that cement manufacturers have increased the price of their products by up to 50%, leading to significant hikes in building costs and rents across the country.

They noted that the raw materials for cement production are sourced locally and not affected by exchange rate volatility, and the cost of production has not significantly changed since last year. The lawmakers accused cement manufacturers of capitalizing on exchange rate fluctuations to raise prices.

The lawmakers described the price hike as an affront to the efforts of the President Bola Ahmed Tinubu’s administration to improve living conditions for Nigerians. Hon. Yusuf Gagdi emphasized that despite government interventions, the price hike was unnecessary.

To address the issue, Hon. Babajimi Benson suggested a sectoral debate to understand the factors behind the price increase, while Hon. Sada Soli called for compassion, considering the potential impact on the national economy and investments.

The committee is expected to report back within four weeks for further legislative action.

The Federal High Court in Abuja has granted the Federal Competition & Consumer Protection Commission (FCCPC) the authority to execute a search on multiple generator companies, following concerns of untoward behavior and business practices.

Dr. Adamu Abdullahi, Acting Executive Vice Chairman/ Chief Executive Officer of FCCPC, disclosed in a statement on Wednesday that the Commission initiated the investigation due to the significance of the electricity power industry, particularly in providing alternative power sources. Abdullahi emphasized the critical importance of affordable and reliable power supply for businesses and households, especially small businesses and vulnerable households.

Abdullahi stated, “That investigation is currently at various stages. Extensive briefings with topmost officials in government, and evidence gathering from relevant targets have also occurred.”

Furthermore, Abdullahi highlighted the Commission’s decision to file criminal charges against Mikano International Limited and Others for alleged obstruction of justice and failure to comply with lawful requests during the execution of the search warrant. The charges, according to Abdullahi, are in violation of Sections 28(5), 33, 110, and 111 of the Federal Competition & Consumer Protection Act (FCCPA).

“The Commission is strongly committed to ensuring compliance and transparency in the enforcement of the law,” Abdullahi affirmed.

He reassured consumers and businesses that the Commission would continue to enforce the law in a fair and humane manner, emphasizing the importance of adherence to regulatory frameworks to prevent exploitation of consumers and ensure economic and market stability.

The action taken by the FCCPC underscores the government’s determination to uphold consumer rights and promote fair business practices in Nigeria.

The Federal Government, under the auspices of the Federal Ministry of Special Duties and Inter-Governmental Affairs, has launched its strategic plans for the period 2024 to 2028, aimed at advancing the transformative roadmap of the President Bola Ahmed Tinubu administration.

During the unveiling ceremony in Abuja on Wednesday, the Minister of Special Duties and Inter-Governmental Affairs, Rt. Zaphanial Jisalo, highlighted the comprehensive five-year plan’s alignment with the visionary Renewed Hope Agenda. This agenda, anchored in progress, innovation, and inclusivity, seeks to rejuvenate the nation.

Jisalo outlined the strategic pillars, priority areas, goals, objectives, interventions, and key activities encapsulated within the plan. Developed through stakeholder engagement, the plan emphasizes job creation, innovation, economic growth, social development, sustainability, and inclusivity to combat extremism and promote national security.

“Our strategies encompass bolstering local production, reducing imports, supporting our farmers, nurturing emerging sectors, empowering the vulnerable, and ensuring accessible healthcare, education, and housing,” stated the Minister.

He emphasized that the plan signifies the ministry’s commitment to fulfilling citizens’ aspirations, aiming to catalyze Nigeria’s progress towards a future of economic prosperity and social development for all.

Jisalo expressed unwavering determination to execute the plan meticulously, highlighting the importance of efficiency, accountability, and transparency. He emphasized the need for collaboration and partnership across sectors to harness collective strengths for national development.

The Permanent Secretary in the ministry, Ibiene P. Roberts, extended gratitude to stakeholders and partners for their contributions to the plan’s success. She affirmed the collective efforts toward realizing the objectives and aspirations of the Renewed Hope Agenda, fostering a better and more prosperous Nigeria.

The launch of the strategic plans underscores the government’s commitment to driving sustainable development and realizing the transformative vision outlined by President Tinubu’s administration.

In a decisive move, President Bola Tinubu, presiding over the Federal Executive Council meeting, has issued a directive to security personnel to rescue over 200 kidnapped students in Kaduna state without paying any ransom to the abductors.

The directive came following deliberations during the FEC meeting, prompting President Tinubu to emphasize the priority of rescuing the students unharmed.

Minister of Information and National Orientation, Mohammed Idris, made the directive public while briefing State House Correspondents.

According to Idris, President Tinubu instructed security personnel to pursue the abductors and ensure the safe rescue and reunion of the captives with their families, without yielding to any ransom demands.

The abduction of over 280 pupils and teachers from Government Secondary School and LEA primary school in Kuriga, Kaduna State, by bandits has sparked national outrage.

Reports indicate that the bandits demanded a ransom of N40 trillion from the Federal Government, along with motorbikes, Hilux vans, and other materials.

President Tinubu’s firm directive underscores the government’s commitment to prioritizing the safety and security of Nigerian citizens, particularly vulnerable schoolchildren. Further details on the rescue operation are awaited.