The Federal Government of Nigeria has banned 18 foreign universities operating in the country, referring to them as “degree mills.” The affected institutions include five universities from the United States, six from the United Kingdom, and three from Ghana. The National Universities Commission (NUC) clarified that these universities had not been licensed by the Federal Government and have been closed down for violating the Education (National Minimum Standards, etc.) Act of the Federation of Nigeria, 2004.
The list of affected universities includes institutions from the Republic of Benin, Togo, the United States, the United Kingdom, and Ghana. The NUC warned Nigerians to avoid enrolling in these unlicensed institutions. Additionally, the Federal Ministry of Education temporarily suspended the evaluation and accreditation of degree certificates from the Republic of Benin and Togo. This decision follows an undercover investigative report exposing fake degree certificates from a Beninese university.
The Ministry of Education stated that the suspension would continue pending the outcome of an investigation involving the Ministries of Foreign Affairs and Education of Nigeria, the two countries, and the Department of State Security Services and the National Youths Service Corps. The ministry also emphasized the need for public support, understanding, and the provision of useful information to assist in finding lasting solutions to prevent further occurrences.
The National Association of Nigerian Students (NANS) has appealed to the Federal Government to reconsider the suspension, expressing concern about its impact on legitimate students who have pursued education in the affected countries. NANS suggested a reassessment while distinguishing between those involved in fraudulent activities and genuine students who have pursued their education sincerely.
This move by the government aims to address issues of fake degrees and diploma mills and strengthen the credibility of the accreditation system for foreign degrees.
The Economic and Financial Crimes Commission (EFCC) has arrested and detained Halima Shehu, the National Co-ordinator and Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), in connection with the ongoing probe into the alleged N37,170,855,753.44 money laundering case within the Ministry of Humanitarian Affairs, Disaster Management, and Social Development, under former Minister Sadiya Umar-Farouk.
EFCC operatives reportedly stormed NSIPA’s office in the Federal Secretariat, Federal Capital Territory, on Tuesday at 9 am, taking Shehu to the EFCC headquarters in Jabi, Abuja. As of the latest report, she remains in detention and is being interrogated.
Anonymous senior officers from the anti-graft agency disclosed that Shehu, former National Coordinator of the Conditional Cash Transfer Programme under the Ministry, was implicated in the alleged fraud. She is being questioned over funds that allegedly left the ministry’s coffers during her tenure.
President Bola Tinubu suspended Halima Shehu from office on Tuesday. Former Minister Sadiya Umar-Farouk is also expected to appear before the EFCC today (Wednesday) for questioning regarding the N37.1bn money laundering case. The investigation revolves around funds allegedly laundered during her tenure through a contractor, James Okwete.
Umar-Farouk was asked to report for an interview at the EFCC Headquarters in Jabi, Abuja, in connection with the money laundering case, according to a document seen by our correspondent. The document cites the Economic and Financial Crimes Commission (Establishment) Act 2004 and the Money Laundering (Prohibition) Act, 2011, as the basis for the request. The scheduled interview is set for Wednesday, January 3, 2024, at 10:00 am.
In a bid to achieve cost-saving measures, the Federal Government has excluded 26 professional bodies and councils of agencies from its budgetary allocations for the year 2024. The decision aims to target savings amounting to N27.72 billion, as outlined in a document published on the website of the Budget Office of the Federation.
The Director-General of the Budget Office of the Federation, Ben Akabueze, had previously announced the discontinuation of budgetary allocations to professional bodies and councils, effective December 31, 2023. This policy is now being implemented in the 2024 budget, underscoring the government’s commitment to fiscal responsibility.
A letter dated June 26, 2023, addressed to the Registrar of the Nigerian Council of Food Science and Technology, conveyed the formal communication of this decision. This strategic move is part of broader efforts to streamline budgetary allocations, enhancing financial discipline across government agencies.
The excluded professional bodies are now considered self-funded organizations, responsible for covering all personnel, overhead, and capital expenditures. The shift aligns with the recommendations of the Presidential Committee on Salaries, emphasizing greater financial autonomy for these entities.
The suspension of budgetary allocations affects entities across various ministries, including Trade and Investment, Information and Communication, Agriculture and Rural Development, Transport, Mines and Steel, Justice, Works and Housing, as well as Environment. Entities like the Advertising Regulatory Council of Nigeria, the Council for Registered Engineers of Nigeria, the Nursing and Midwifery Council, and the Optometrist and Dispensing Opticians Board of Nigeria will need to explore alternative revenue streams such as registration fees, licensing fees, renewal fees, examination fees, and membership fees for funding.
This transition signifies a significant shift towards financial self-sufficiency for the affected organizations, marking a new era in their funding dynamics.
***Agencies not funded by the federal government are also expected to remit 50 per cent of their generated revenues.
President Bola Tinubu’s administration has directed that all ministries, departments, and agencies fully funded by the federal government remit 100 per cent of their revenues into a Sub-Recurrent Account, a sub-component of the Consolidated Revenue Fund (CRF), where the federal government will now receive and consolidate its revenue earnings.
This directive, issued in a December 28 circular by the Finance Ministry and publicised on Tuesday, effectively closes the single treasury account operated under the erstwhile Muhammadu Buhari administration.
It is the latest of the federal cabinet’s move to “improve revenue generation, fiscal discipline, accountability and transparency” in resource management and waste prevention under Bola Tinubu’s nascent presidency.
“All Ministries, Departments and Agencies (MDAS) that are fully funded through the annual federal government budget (receiving personnel, overhead and capital allocation) and on the schedule of Fiscal
Responsibility Act, 2007 and any addition by the Federal Ministry of Finance should remit one hundred per cent of their Internally Generated Revenue (IGR) to the Sub-Recurrent Account, which is a Sub-component of the Consolidated Revenue Fund (CRF),” the directive read.
“Agencies and departments that are partly funded by the federal government – having budgetary allocations for capital or overhead expenditures – are expected to remit 50 per cent of their gross revenue while statutory revenue like “tender fees, contractor’s registration, sales of government assets, etc should be remitted one 100 per cent to the sub-recurrent account,” it added.
Agencies not funded by the federal government are also expected to remit 50 per cent of their generated revenues.
“For the avoidance of doubt, the Office of the Accountant-General of the Federation shall open new TSA Sub-Accounts for all Federal Government Agencies/Parastatals listed on the schedule of Fiscal Responsibility Act, 2007 and any additions by the Federal Ministry of Finance, except where expressly exempted.
“The new account opened for Agencies/Parastatal shall be credited with inflows in the old revenue-collecting accounts based on the new policy implementation of 50 per cent auto deduction in line with Finance Act, 2020 and Finance Circular, 2021, 50per cent cost to revenue ratio,” it added.
While the current approach bears resemblance to the previous administration’s strategy, all revenues in the new processes are consolidated into a unified treasury account, and the Office of the Accountant General calculates deductions according to approved percentages. The remaining funds are then entrusted to the remitting agency. This contrasts with the prior administration, where agencies autonomously determined the remittances they provided to the federal government.
“The Office of the Accountant General of the Federation (0AGF), subject to the categorisation of agencies, shall map and automatically effect direct deduction of 50 per cent on gross revenue of Self/partially funded
Agency/Parastatals and 100 per cent for fully funded agencies/ parastatals as interim remittance of the amount due to the Consolidated Revenue Fund,” the directive read.
The stringent enforcement of this policy is anticipated due to the close collaboration among the Ministry of Finance, the Accountant General, and the Office of the Coordinating Minister of Economy.
The accountant general is tasked with overseeing, monitoring, and conducting a monthly review of both the existing and new accounts of agencies/parastatals. This ensures that only funds approved by the Honourable Minister of Finance and Coordinating Minister of the Economy (HMFCME) and the Accountant-General of the Federation (AGF) are credited to supplementary accounts that the departments and agencies would use to hold internal funds.
All ministries and agencies concerned are expected to fully comply with the directive except when expressly permitted to act differently.
The Federal Government declared on Tuesday that Nigerian students can now apply for scholarships in Mauritius until April 19, 2024. This announcement was made through a statement from the Federal Ministry of Education, signed by the Federal Scholarship Board Management.
The scholarship opportunity is open to both undergraduate and postgraduate students for the academic year 2024. Interested applicants can obtain the application form electronically from the websites http://ministry-education.govmu.org or http://highereducationmauritius.com. The form must be filled online, printed, and signed.
To be eligible, applicants must have applied for at least one full-time on-campus program at a public Higher Education Institution (HEI) of their choice, as listed under Section 8. The application process also requires obtaining a conditional offer (letter of admission) from the chosen Mauritian public HEI, along with an acknowledgment notice confirming the application for the seat and payment of the appropriate fees.
All candidates are instructed to submit the fully completed application form and required documents to the Federal Scholarship Board in Abuja by April 19, 2024.
Eligibility criteria include being a Nigerian citizen, with undergraduate applicants above 18 years old and not having reached their 26th birthday by January 1, 2025. For postgraduate degrees, candidates should not have reached their 40th birthday by January 1, 2025, and health certificates from recognized Government Hospitals are mandatory.
Additionally, candidates are required to have a good WAEC result for undergraduate, Masters, and Ph.D. applications, with a minimum of second class upper (2.1) for postgraduate degrees. The Federal Scholarship Board Management encourages eligible students to seize this opportunity to pursue their academic aspirations in Mauritius.
In a renewed dispute over the removal of petrol subsidy, the Nigerian National Petroleum Company Limited (NNPCL) and fuel marketers, represented by the Independent Petroleum Marketers Association of Nigeria, clashed on Tuesday. This confrontation is set against the backdrop of the Naira’s depreciation against the United States dollar in both official and parallel markets.
The official exchange rate closed at 998 Naira to a dollar, while the parallel market traded at 1,225 Naira to a dollar on Tuesday. Economists and oil marketers argue that the falling Naira has led to an increase in Premium Motor Spirit (PMS) subsidy. However, the NNPC countered these claims, asserting that it is recovering the full cost of importing petrol.
Bismarck Rewane, CEO of Financial Derivatives Company, clarified during a television program that the subsidy on fuel was reduced, not removed. Oil marketers, citing the Naira’s devaluation and crude oil costs, projected that PMS should sell for N1,200/litre in a free market.
Despite the conflict in perspectives, petrol, imported solely by NNPCL, currently sells between N617/litre to N660/litre in Nigeria. The NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, reiterated the government’s stance, emphasizing the cessation of subsidy on petrol.
President Bola Tinubu’s declaration on May 29, 2023, was swiftly implemented by the NNPC the next day, resulting in a surge in petrol prices. The World Bank, in December, insisted that subsidy on petrol persists, estimating the cost should not be below N750/litre without subsidy.
Amid these developments, the Naira closed at N988.46/$ in the Investors and Exporters Window, marking an 8.97% decline. The World Bank noted a 41% depreciation against the US dollar in the official market and a 30% decline in the parallel market. The NNPC reported 112 cases of crude oil theft in the Niger Delta in one week, posing challenges to Nigeria’s oil production quota set by OPEC.
As the dispute unfolds, stakeholders remain divided over the economic, social, and political implications of subsidy removal, with concerns raised about potential further hardships if the subsidy is eliminated entirely. The NNPC remains firm in its commitment to recovering full costs, emphasizing energy security and sustainable growth for Nigeria.
Uju Kennedy, the Minister of Women Affairs, has called for the eradication of harmful traditional practices like breast ironing, particularly in communities like Kpaduma and Pygba in Abuja.
Kennedy emphasized that such practices, including breast ironing, are unacceptable and contradict President Bola Tinubu’s Renewed Hope Agenda, which aims to enhance the welfare of women and the girl child.
Kennedy highlighted the health risks associated with breast ironing, stating that it could lead to cancer and cause challenges in nipple health for affected girls.
She expressed the ministry’s commitment to conducting intensive sensitization campaigns in the affected communities and warned that parents found involved in such practices would face appropriate sanctions through mobile courts.
The minister sought the support of religious and traditional leaders in the communities, emphasizing the need to work collectively to eliminate these harmful practices.
During the crossover night service at Redemption City, Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God, provided insights for 2024.
While assuring Nigerians that things will get better, he emphasized that there might be challenges before improvement.
Adeboye stated, “The wind is blowing, include in your prayers that the wind will blow you well. Things will get worse before they get better. Things will get a little hotter before it gets better.” Despite this caution, he encouraged people to be hopeful and prepare for opportunities that will arise in the coming year.
The religious leader predicted that some individuals would begin as nobodies but rise to significance by the middle of the year. Additionally, he foresaw divine interventions globally, particularly in areas facing challenges. Adeboye also prophesied breakthroughs in the treatment of diseases like cancer, diabetes, and hypertension.
While annual prophecies have become a tradition among Nigerian pastors, Adeboye’s messages often encompass a mix of caution, hope, and divine favor. His previous prophecies for 2023 included expectations of a more peaceful world and a year filled with opportunities.
Dr. Dele Alake, the Minister of Solid Minerals Development, has made indications that the mining industry would make significant progress in 2024 towards making a significant contribution to the GDP of the country.
Alake reiterated that President Bola Tinubu’s vision of diversifying the economy through renewed focus on solid minerals is on track in his goodwill message to Nigerians on the new year. Segun Tomori, his Special Assistant on Media, provided the message to newsmen in Abuja. Alake also stated that reforms in the sector will yield tremendous results in the upcoming year.
The message reads: ” I felicitate Nigerians for making it through 2023 into the year 2024. It is pertinent that we collectively look forward to the horizon of the new year, with renewed hope, especially because it signposts the first fiscal year of the Tinubu administration.
” On our part in the solid minerals development ministry, we will be consolidating on reforms that commenced with our ambitious 7-point agenda, on assumption of office, four months ago. Nigerians are rest assured that an efficient governance structure that will transform the opaque nature of the mining sector will crystallise in the new year.
” It will be recalled that we had revoked 1,633 mining licenses of those that defaulted in the payment of annual service fees last year. More revocation is in the offing for other categories of defaulters in 2024″
” Our plans to tackle the menace of insecurity in mining areas alongside the activities of illegal miners through a rejigged security architecture is well on course. In a short while, we will see the result of months of engagement with heads of security agencies, as we are poised to rout those plundering Nigeria’s mineral resources. “the Minister affirmed.
On exploration, he said, “Efforts on exploration of critical minerals which started last year with the signing of an MOU with German firm, GeoScan GmbH for the deployment of proprietary technology to explore minerals up to 10,000m under the earth will be ramped up with renewed vigour by the Federal Government. This is crucial for the development of the sector as it will lead to the generation of big geo-data required for global players to make informed decisions about investing in the industry, “
Alake further urged Nigerians to keep faith with the Tinubu administration, emphasising that reforms in the mining sector and other areas will jumpstart the real sector and lead to immense jobs and prosperity for all Nigerians.
” We are prioritizing value addition for prospective investors in the mining sector. The era of just carting away our resources is over. We want to see practical plans to develop these raw materials into finished products or plans to add value to host communities before we even license new operators.
“This is pertinent, so that the mining sector can lead the way in industrialization, create massive jobs for our teeming young population, and contribute substantially to economic development in the new year,” Alake added.
Our ambitious goal is to create over 500,000 jobs within an operational steel industry before the end of President Bola Ahmed Tinubu’s 2nd term in office, Prince Shuaibu Abubakar Audu, Honourable Minister of Steel Development has said.
Progress has already been made, engaging nearly 200 youths in the steel industry nationwide within my first 4 months in office, with more initiatives in the pipeline.
In reflecting on the conclusion of 2023 and welcoming the dawn of 2024, I express gratitude to Almighty Allah and extend felicitations to His Excellency, President Bola Ahmed Tinubu GCFR, as well as fellow Nigerians worldwide.
The year 2023 marked the commencement of a new era—’Renewed Hope’—under President Bola Ahmed Tinubu’s leadership. With an eight-point agenda focusing on economic prosperity, job creation, poverty alleviation, and addressing security challenges, the vision set forth by Mr. President guided our national trajectory.
At the heart of the ‘Renewed Hope Agenda’ is the revitalization of Nigeria’s steel industry, leading to the establishment of the Ministry of Steel Development in August 2023 with a specific mandate.
As we step into 2024, a unique opportunity arises for the industrialization of Nigeria and the revival of our steel industry. Plans are underway to design a roadmap for the resuscitation of the steel industry, encompassing a five-year plan for Nigeria’s steel sector revival and a three-year plan for the Ajaokuta steel plant.
International investors have shown commitment, pledging billions of dollars to develop Nigeria’s steel industry. President Tinubu’s efforts at securing these investments were highlighted at prestigious gatherings of World Political and Business Leaders, including the recent G20 summit in Delhi, India.
The Ministry of Steel Development is diligently working to create a conducive operating environment for both local and foreign investors. Measures such as increased government levies on steel importation are being considered to promote import substitution.
I appreciate President Bola Ahmed Tinubu GCFR for entrusting me with the opportunity to serve our great country. Reviving a challenging and ailing industry requires significant effort, and by the grace of God, we are committed to delivering the President’s vision for the Steel Industry in Nigeria.
As we embark on this new year, I wish you all a happy and prosperous 2024 filled with good health, peace, and progress.
