Politics
Tinubu seeks confirmation of Onwudiwe as CBN Board Member
President Bola Tinubu has sought Senate’s confirmation for appointment of Dr Ruby Onwudiwe, as member of the Board of Directors of the Central Bank of Nigeria (CBN).
Tinubu’s request is contained in a letter addressed to President of the senate, Godswill Akpiabio and read at plenary on Wednesday in Abuja.
Tinubu in the letter, said the request for confirmation was in compliance with provisions of section 10, sub section one of the Central Bank of Nigeria Establishment Act 2007.
“I am pleased to present for confirmation by the senate,the appointment of Dr Ruby Onwudiwe as a member of the CBN board of directors.
“The senate is invited to kindly note that Onwudiwe is a replacement for Mr Kalu Eke, due to the unavailability of Eke for the position.
“It is my hope therefore, that the senate will consider and confirm in its usual expeditious manner, the appointment of Onwudiwe.
“Please accept the assurances of my highest regards,” Tinubu said.
Politics
Senate passes tax reform bills for second reading
The proposed Tax Reform Bills scaled their Second Reading on the Senate floor on Thursday, despite strong reservations from some lawmakers.
Presenting the lead debate on the Executive Bill before opening the floor to his colleagues, Senate Leader Michael Opeyemi Bamidele described the proposed legislation as “a significant move to overhaul the country’s tax system.” He added, “These bills aim to simplify the tax landscape, reduce the burden on small businesses, and streamline tax collection.”
The Senate Leader elaborated on the benefits of the proposed bills, which include four main components. He stated: “In broad terms, the four bills seek to ensure uniformity in tax revenue administration in Nigeria, in line with constitutional provisions; eliminate double taxation across the country; use taxation as a tool to encourage private sector investment in critical industries; and boost disposable incomes through targeted tax exemptions as outlined in the various bills.”
Regarding tax exemptions, Senator Bamidele highlighted: “There is a proposal to exempt individuals earning no more than the minimum wage from Pay As You Earn (PAYE) deductions, while small businesses with an annual turnover of ₦50 million or less will also be exempt from paying taxes. Similarly, there is a proposed significant reduction in corporate income tax from the current 30% to 25% by 2026. Additionally, to address double taxation and the multiplicity of levies, multiple taxes previously paid by companies, such as the 2.5% education tax and 0.25% NASENI tax, have been harmonized into a single development levy of 2%. By 2030, this levy will fund the newly established student loan scheme, benefiting many Nigerian youths.”
Senator Bamidele also revealed an innovation in the proposed legislation aimed at allocating more Value Added Tax (VAT) revenue to states. “Unlike the current tax regime, where the Federal Government takes the lion’s share of VAT revenues, the new sharing formula proposes increasing the states’ share from the current 15% to 55%, while the Federal Government’s share will drop to 10%. However, the Local Governments’ share will remain unchanged. Furthermore, essential items such as food, medical services, pharmaceuticals, education fees, and electricity will continue to be exempt from VAT.”
He also noted efforts to consolidate core tax statutes and related legislation to simplify the administration of income taxes and levies across the federation. Senator Bamidele urged his colleagues to pass the Executive Bill promptly, stating: “Mr. President, Distinguished Colleagues, these bills represent a necessary legislative intervention to support ongoing fiscal and tax reforms, which are crucial for repositioning the Nigerian economy for growth and productivity. I urge you all to support the Second Reading of this Bill.”
Former Bayelsa State Governor and Senator representing Bayelsa West, Seriake Dickson, supported the tax reforms but acknowledged a lack of stakeholder consultation. He stated: “While the absence of sufficient consensus building and consultation is regrettable, it should not detract from the essence of the legislation. For example, the focus on derivation is commendable as it encourages states to boost productivity and revenue generation. This includes ensuring that PAYE taxes from oil workers are calculated and paid to the oil-producing states where these activities occur.”
However, Senator Ali Ndume of Borno South raised concerns about the timing of the proposed legislation, insufficient consultations, and the derivation principle.
He argued that introducing derivation in VAT sharing would necessitate constitutional amendments. “Mr. President, I have concerns with these bills. The timing is not ideal, and the issue of derivation requires constitutional amendments. I believe the bills should be withdrawn and reintroduced after thorough consultations with governors, the National Economic Council (NEC), and traditional rulers,” Ndume said.
In contrast, Senator Tahir Monguno argued that governors and traditional rulers could express their views during public hearings.
Following a voice vote, the bills secured their Second Reading. The Senate President then mandated the Senate Committee on Finance to review the bills and report back within six weeks.
Politics
Supreme Court upholds Ezeokenwa as APGA’s national chairman
The Supreme Court of Nigeria has affirmed an appeal by the All Progressives Grand Alliance (APGA), recognising Sly Ezeokenwa as its national chairman.
The court, in a judgment on Wednesday, also awarded a N20 million fine against Edozie Njoku for filing a frivolous suit at the FCT High Court, Bwari.
Recall that a few days ago, the Federal High Court in Abuja barred Njoku from parading himself as the national chairman of the party.
In a ruling, Justice James Omotosho held that there was no valid court judgment or order, including a judgment from the Supreme Court, that recognized Mr. Njoku as APGA national chairman.
THN reports that APGA and Sylvester Ezeokenwa (National Chairman, APGA) had, in the suit marked: FHC/ABJ/CS/966/2024, filed the suit as the 1st and 2nd plaintiffs.
In the originating summons filed on 12 July, the plaintiffs sued the Independent National Electoral Commission (INEC) and Mr. Njoku as the 1st and 2nd defendants.
They filed the suit following the removal of the names of Mr. Ezeokenwa, a legal practitioner, and his executive officers from the INEC website, and the replacement of the same with the names of the Njoku-led leadership of APGA by the electoral umpire on 9 July.
While delivering the judgment, Justice Omotosho held that INEC was wrong to have recognized the Njoku-led leadership of the party.
“There is no subsisting court order upon which it acted. The decision of the Supreme Court was clear as to who the national chairman should be, and it is certainly not Chief Edozie Njoku.
“Chief Victor Oye was, in fact, recognized by law. Furthermore, at the expiration of his (Oye’s) tenure in 2023, a national convention was held on 31 May 2023 in Awka, Anambra State, which produced the 2nd Plaintiff (Ezeokenwa) and other persons as national executives.
“The 1st defendant (INEC) monitored the same and issued a report (Exhibit APGA 1).
“There is nothing before this court faulting the election of the 2nd plaintiff and his executive team as the rightful occupants of the national executive of the party.
“The 1st defendant must, therefore, restore their names as the National Executive Officers of the All Progressives Grand Alliance party,” he said.
The judge ruled that the Supreme Court had settled the matter in the case between Njoku and Oye on who the valid national chairman of the party was in suit number: SC/CV/687/2021 dated 24 March 2023.
He held that the Supreme Court did not alter the substance of the judgment delivered on 14 October 2021, “affirming the judgment of the Court of Appeal which set aside the judgment of the High Court of Jigawa and held that who should be the acting national chairman of the party is within the confines of the internal affairs of the party, which is not justiciable.”
According to Omotosho, there is clearly no order by the Supreme Court recognizing Chief Edozie Njoku as chairman of the party, and it is a wonder how the 1st defendant could have claimed that its action was based on a purported court order.
Politics
Bauchi PDP suspends lawmaker over alleged insubordination
The Peoples Democratic Party, PDP, in Bauchi State has suspended Habibu Umar, the lawmaker representing Kirfi Constituency in the State House of Assembly.
The lawmaker has been barred from all party activities until further notice.
In a letter addressed to the Speaker of the Bauchi State House of Assembly, the PDP State Chairman, Samaila Burga, stated that Umar was found guilty of insubordination by the party in line with its Constitution.
According to Burga, the lawmaker was issued a query on November 5, 2024, for violating sections 58 (9) (1) and (f) of the PDP Constitution (2017 as amended).
The letter seen by DAILY POST on Wednesday was submitted and signed by all the members of the Beni Ward EXCO.
Following the report, a disciplinary committee was set up on November 11, 2024.
DAILY POST gathered that after a thorough investigation, the committee concluded that Umar was guilty of the charges.
The committee recommended his immediate suspension in compliance with sections 59 (4) and (5) of the party’s constitution.
“Effective from today, November 25, 2024, Hon. Habibu Umar is barred from participating in any party activities until further notice,” the chairman stated.
In another development, a former member of the Bauchi State House of Assembly, Adamu Bello, has officially rejoined the PDP after leaving the All Progressives Congress, APC.
Bello, a founding member of the APC in Bauchi State and a key figure in the Bauchi North Senatorial District, served as the Sole Administrator of Giade Local Government Area.
The former APC leader, who played a crucial role in securing a victory for the APC in Giade LGA during the last general elections, cited the ongoing support of Bauchi State Governor, Bala Mohammed, for his people as the primary reason for his decision to return to the PDP.
In a statement issued on Wednesday, Adamu Bello explained that his constituents urged him to join the PDP in order to better advocate for the community’s interests.
“I have always been a voice for my people, and they have asked me to take this step so that we can continue to progress,” Bello remarked.
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