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National Assembly sends 2022 budget to Buhari for assent

Published

2 years ago

December 28, 2021

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The National Assembly has transmitted the 2022 Appropriation Bill to President Muhammadu Buhari for assent.

The House of Representatives and the Senate passed the Federal Government’s budget on Tuesday and Wednesday last week, respectively, raising the total estimates from the proposed N16.391tn to N17.126tn.

The oil benchmark was raised from the proposed $57 per barrel to $62.

President of the Senate, Ahmad Lawan, had said the budget would be transmitted to Buhari by Thursday.

A communication from the Clerk to the National Assembly, Ojo Amos, to the Presidency, a copy of which our correspondent sighted on Tuesday, showed that the budget was transmitted on Friday and received by the Office of the Chief of Staff to the President on Saturday.

The letter of transmission, with Reference Number NASS/CNA/37/Vol.1/35, was addressed to the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and titled ‘APPROPRIATION BILL, 2022.’

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It read, “In consonance with the Provisions of the Acts Authentication Act Cap. A2, Laws of the Federation of Nigeria, 2004, I wish, with due respect, to forward to Your Excellency, the authenticated copies of Appropriation Bill, 2022, for your consideration and assent.

“After Your Excellency’s assent, one copy of the signed bill should be retained in your office while the other two are to be returned for our further action, please.

“With my highest regards.”

The National Assembly had from the 2020 budget returned the country to a January-December budget cycle.

Buhari had signed 2021 Appropriation Bill into law on January 1, 2021, while it’s life cycle was expected to expire on December 31, 2021 (Friday) but for the recent extension of the lifespan of its capital component three months by the National Assembly.

The President is expected to assent to the money bill by Saturday.

Related Topics:Budget Buhari National Assembly

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UPDATED: Tinubu appoints Jim Ovia as chairman of education loan fund

Published

13 mins ago

April 26, 2024

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President Bola Tinubu has appointed Jim Ovia as the chairman of the Nigerian Education Loan Fund (NELFUND).

Ajuri Ngelale, presidential spokesperson, announced the appointment of Ovia, chairman of Zenith Bank, in a statement on Friday.

Ngelale said Tinubu believes that Ovia will bring his immense wealth of experience to ensure that no Nigerian student suffers a paucity of funds in the quest for tertiary education.

On April 3, Tinubu signed the student loans amendment bill into law to provide Nigerians with quality and accessible education.

The law will allow Nigerian students in tertiary institutions to access low-interest loans for tuition and other academic needs.

Subsequently, the president appointed Akintunde Sawyerr as the managing director and chief executive officer (CEO) of the fund.

Tinubu also appointed Frederick Oluwafemi Akinfala as the executive director of finance and administration, while Mustapha Iyal will serve as the executive director of operations of NELFUND.

READ Discordant tunes: APC exco, govs divided over Buhari’s succession plan

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JUST IN: Tinubu appoints Jim Ovia as chairman of education loan fund

Published

2 hours ago

April 26, 2024

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President Bola Tinubu has appointed Jim Ovia as the chairman of the Nigerian Education Loan Fund (NELFUND).

Ajuri Ngelale, presidential spokesperson, announced the appointment of Ovia, chairman of Zenith Bank, in a statement on Friday.

More to follow…

READ I’ll work hard for Nigeria as you worked for me, Tinubu tells Buhari at APC rally (VIDEOS, PHOTOS)

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ICPC detains TETFund boss ‘over questionable N7.6bn project’

Published

7 hours ago

April 26, 2024

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has detained Sonny Echono, executive secretary of the Tertiary Education Trust Fund (TETFund).

Demola Bakare, ICPC spokesperson, confirmed the development on Friday.

Bakare said that Echono was invited by the anti-graft agency on Thursday.

“The executive secretary of TETFund is here with us. He has been invited for questioning. He is still in custody. He was invited yesterday.” Bakare said.

“He was invited on Thursday. He has not been released. He’s still with us. Investigation is still ongoing.”

It was earlier reported that TETfund awarded two contracts to Fides Et Ratio Academy and Pole Global Marketing (PGM) within two months at the cost of N3.8 billion respectively without the approval of the federal executive council (FEC), which is required for the contract size.

The contract was to provide capacity building course and learning management systems to about 2 million students across higher institutions in the country.

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In a rejoinder, TETFund said it did not award N7.6 billion contracts to two companies without due process.

The agency said it was wrong to say they were contracts, whereas they were ICT projects implemented under a memorandum of understanding (MoU) which doesn’t require competitive bidding in public procurement.

TETFund further said its disbursement guidelines were approved by the president on the recommendation of the “Fund’s Board of Trustees and concurrence of the Honourable Minister of Education in line with the TETFund Act 2011″.

In an interview with TheCable, Echono said there was no form of irregularity in the N7.6 billion project.