FUEL SUBSIDY OUTCOME: TERMINATION OF ACCOUNTANTS/AUDITORS April 21, 2012Posted by seunfakze in CHANGE, POLITICS.
Tags: Fuel subsidy scam, Nigeria, Okonjo Iweala
FEDERAL MINISTRY OF FINANCE
News release. April 19, 2012
SUBSIDY PAYMENTS: FINANCE MINISTRY TERMINATES SERVICES OF ACCOUNTANTS AND AUDITORS
Concerned about the management of the subsidy regime, the Federal Ministry of Finance has for the last two months been reviewing aspects of the implementation of the subsidy regime related to its functions. The review has produced a lot of useful details on what was wrong with the system and what needs to be done to ensure improvement going forward.
The review process kicked off in February when the ministry and relevant government agencies held a meeting with bankers and marketers at the instance of President Goodluck Jonathan. This was followed by a subsequent session with the accounting and auditing firms to re-evaluate their work.
Based on the review, the Ministry has taken the following steps:
• The services of the audit and accounting firms responsible for certifying the documents and claims of marketers before payment have been terminated. The companies are Akintola Williams and Co and Adekanola and Co.
• The Ministry has established a committee made up of credible and experienced persons from the private and public sector with strong technical component under the chairmanship of Mr. Aigboje Imoukuede to examine the claims of payment arrears for 2011 currently being made by marketers. This is to ensure that only genuine claims are honoured.
• The ministry is also finalising a new and more effective system to replace the current arrangement and, in this regard, a second committee has been set up to propose a good way to forward.
Based on other outcomes of the review, the ministry will take further actions as necessary.
In a related development, the Federal Accounts Allocation Committee (FAAC) has put on hold further depletion of the Excess Crude Account (ECA).
Paul C Nwabuikwu
Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance
Welcome Madam Iweala August 18, 2011Posted by seunfakze in CHANGE, POLITICS.
Tags: Change, government, Nigerian politics, Okonjo Iweala
It is hard to have a first glimpse of Madam Iweala and not like her. Her poise, gait, the characteristically-placed gele, the round glasses, the fresh face, the sound mind, the huge presence, the ebullient persona etc all shows a woman who has the endearment and followership of the large part of the (intellectual) Nigerian populace. However, with her outstanding records and clout, it is only in Nigeria you may have someone like her contest the presidency and lose. Yes! She is Ibo and she is a Christian, (tribalistic bigots, religious egotistical zealots!)
Now that you have resumed office, I hope there will be some life in this presidency. It has been short of amazing how a president would assume office and be lost about what to do in the first nearly 100 day of office. Really if you had a plan Uncle GEJ, you should have “hit the ground rolling”. If Nigeria were your company, would you run it the way you do? We had to wait Madam Ngozi to put some life into your siddon-look presidency.
Madam Iweala is an institution. Her records speak volumes of her worth. She has the sound mind to lead reforms and enact policies that can transform our nation (as she as shown with OBJ’s economic team). Only enlightened minds can transform Nigeria, and Madam Okonjo-Iweala belongs to this few sect, there is no questioning of this fact. Time will reveal if she would she be given the required space in her new role to help this clueless government. By the way Madam, would you ask Mr. President to declare his asset! (now grinning devilishly). Yes, please also remind him that he may now speak, his messiah (you of course) have come to town.
One is almost forced to think we have no president, he doesn’t speak, he doesn’t talk, (asides Mr. Abati the ‘born-again’ spokesperson). Oh! How we missed the chat with OBJ during his presidency, at least he spoke! By the way, Mr Abati didn’t need to defend you of your slow pace if really you were working. It has been all action on the same spot.
In the name of providence and faith, a mass number of Nigerians voted, (if truly the elections were not manipulated as I also assert) voted incompetence. Yes, it is too early to judge I know, but do you know that “the morning shows the night”? It is unbelievable how we vote for people who we have virtually no idea where they are coming from, no records of outstanding performances from their places of employment, etc. I think part of the criteria we should use when these leaders come for their campaigns is to ask them about their TRACK RECORDS. How can we expect our leaders to manage the resources and responsibilities entrusted to their care when they have a history of ineffective work and mediocrity!
Personally, my opinion has always been to run government like it is a business entity. It is also the reason why I clamor that only those who have been successful in their personal business, or as corporate moguls, tested true and true, should be elected into office in Nigeria. A shrewd businessman with a buzzing empire cannot run his institution in deficit. So many other peculiar idiosyncrasies of the business world, when translated into government intuitions would produce amazing results. While this may be termed to translate into a capitalist environment, I will tell you why not? Nigeria itself runs a capitalist state, I daresay.
In Nigeria, we are in dire need of WORLD CHANGERS, people who won’t just spot the problems and “siddon look” but those who would find sustainable solutions to them. Why would you think Governor Tunde Fashola is performing well? With due respect to Ahmed Bola Tinubu, the difference is obviously clear. You cannot put aside experience in the business world, coupled with intellectual capacity and translate that into government and not have amazing results. They are simply exemplifying the timeless amount spent in building their personal lives and businesses and translating it into government.
Why, for example, are people quick to remember Malam Elrufai, OFR when making comparative notes with those who succeeded him! Is it not amazing that this “giant” of a man has been succeeded by three men as Minister of the FCT in Nigeria? Juxtapose the results side by side and you will be shocked. Mr. President, how can you appoint the same ineffective person twice in the same organization? Did you ever run a successful venture before? Maybe you appointed to satisfy geographical mindsets, but this is a shame. If someone lacked wisdom, let him ask (The Holy bible paraphrased).
Take a look at the democratic years of Nigeria (1999-date), the enormous progress we have had so far as a nation has been a result of those who have translated success in their personal places/work experiences into government. The economic team of OBJ makes a pleasant picture. Yes they had their shortcomings, but you cannot flaw most of their results; they simply delivered!
Can anyone share with me Mr. President’s track records as a public servant through his years? If I recollect well enough, the salient points of his campaign were “I had no shoes” etc. What have you done Mr. Ebele Jonathan? I even heard a private university is being constructed in Bayelsa, we know who that belongs to obviously! (Oh! God save my mouth from the SSS). One thing I cannot take away from you Sir, is that you are the president. This is an opportunity to prove us (who never believed in you, let alone vote for you) wrong. You have started well by appointing Iweala in a way, and some few unscrupulous heads! Your cabinet combo is a nice drama to watch. Bravo!
There are untold millions of better Nigerians, at home and abroad, who would make better your administration. Take a cue from OBJ’s era. Appointing Madam Iweala is a good step, yes she is an asset to the most dumb and erratic of persons. Is that only good act you would be remembered for?
You are the President, and we expect better from you. You were voted because your fans believed in you (asides those who wanted you to make money to buy those shoes!). So please wake up bros, and make this work.
We are waiting, we are watching.
This is our time, and the youths are not smiling.
God bless Nigeria.