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5 Years FoI Compliance Report, Lamorde: MIIVOC Invokes FoI Act

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By Dipo Olowookere

A Civil Society Organisation, Media Initiative against Injustice, Violence and Corruption (MIIVOC) has invoked the Freedom of Information (FoI) Act in demanding for details of Annual Compliance Reports by Ministries, Departments and Agencies (MDAs) of the Federal Government with the FOI Act, from 2011 to 2016.

MIIVOC made the demand, pursuant to section 29 of the Freedom of Information Act, 2011, which provides that “Public Institutions shall submit to the Attorney General of the Federation, a report which shall cover the preceding fiscal year…”

In a letter dated 7th February, 2017, entitled: Request for details of Annual Compliance Reports by MDAs, status of Senate Order of Arrest of former EFCC Chairman, Ibrahim Lamorde and details of the regulation submitted to the International Community at the Egmont Meeting on Nigeria’s AML/CFT Compliance; a request under the FOI Act, and signed by MIIVOC’s FOI Officer, Phillip Inyang, MIIVOC made a 6-point demand on the Attorney General of the Federation and Mister for Justice.

“We are concerned about the low compliance level with the Freedom of Information (FOI) Act by Ministries, Departments and Agencies (MDAs) of the Federal Government, the raging controversy over the whereabouts of immediate past EFCC Chairman, Ibrahim Lamorde and the status of the arrest warrant issued by the Senate on him as well as the Regulation allegedly issued by the immediate past Attorney General and Minister for Justice, Mohammed Adoke SAN and submitted to the Egmont group on the situation with Nigeria’s Anti-money laundering and counter-financing of terrorism compliance.

“Considering the controversy trailing the above and more, we invoke the FOI Act, 2011 to demand for clarifications.

“A Certified True Copy of the details of Annual Compliance Reports by MDAs with the FOI Act from 2011 to 2015. The record should include: names of MDAs, compliance status, date of submission of report and all other relevant details.

“An information on why the Honourable Attorney General of the Federation and Minister for Justice (AGF) is yet to direct the Inspector General of Police to arrest/produce Ibrahim Lamorde, former EFCC boss to give account of his stewardship, as ordered by the Senate.

“An information on why the purported Order of Court (if any) restraining the Senate/Federal Government from investigating, arresting and prosecuting former EFCC boss, Ibrahim Lamorde, over allegations of corruption has not been challenged.

“A certified true copy of the Guideline allegedly submitted to the Egmont group of FIUs by the immediate past Attorney General and Minister for Justice on Nigeria’s compliance level with international requirements on CFT/AML.

“An update on the fate and present status of Nigeria on compliance with International requirements on CFT/AML?”

“Details on the situation with Nigeria’s quest to become a member of the Financial Action Task Force (FATF), having applied.”

The demand for Annual Compliance Report of MDAs may not be unconnected with an earlier decision from a MIIVOC- organized FOI Roundtable in December, 2016, wherein participants resolved to embark on a Class Action; involving the joining of hundreds of Public Institutions in a legal Suit for violation of the FoI law.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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National Grid, Mr Ibu Among Top Trending Searches by Nigerians in 2024

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By Dipo Olowookere

Many events happened in 2024 in Nigeria but a few shook the nation because of their impact on residents of the country.

According to a report released by Google, the incessant collapse of the national grip, which plunged the nation into darkness, was among trending searches on its platform.

In the report made available to Business Post on Tuesday, the tech giant said this year’s results show a continued interest in the political and economic landscape, with searches related to the US elections, the new national anthem.

“The 2024 Year in Search offers a unique lens into the questions, interests, and conversations that shaped the lives of Nigerians this year.

“From cultural milestones to pressing concerns, these insights reflect how Search continues to be a valuable tool for users to navigate and better understand their world,” the Communications and Public Affairs Manager for Google West Africa, Taiwo Kola-Ogunlade, stated.

Google’s 2024 Year in Search for Nigeria showcased the most popular searches, notable individuals, actors, musicians, topics, questions, and other subjects that captured Nigerians’ attention in the year.

Google’s Year in Search is an annual analysis that reveals the top trending lists and also spotlights what the world searches to see, learn, and do.

The music scene in 2024 was marked by a surge in popularity for artists like Shallipopi and Khaid, who also featured prominently in the overall personalities list. The top trending song was “”I Don’t Care” by Boy Spyce”, followed closely by “Ozeba” and “Commas” by Ayra”. Nigerians also showed a keen interest in understanding the lyrics of various songs, with “Ogechi lyrics”, “Ozeba lyrics”, and “Omemma by Chandler Moore lyrics” leading the searches in the lyrics category.

This year, Nigerians continued to demonstrate a strong interest in entertainment with movies like “A Tribe Called Judah”, “Treasure In The Sky”, and “Damsel” topping the movie charts. The top TV series that captured the interest of Nigerian netizens included “Supacell”, “My Demon”, and “Queen of Tears”. In the culinary world, Nigerians explored diverse recipes with “Pornstar Martini recipe” leading the searches.

Concerns about personal well-being and global events were also reflected in search trends. Questions like “How much is dollar to naira today?”, “How to get perfectly defined curls for African hair?”, and “Who won the US presidential election?” topped the list of queries. Nigerians were curious about the meaning of words like “demure,” “steeze,” and “pet peeves,” turning to Search for answers.

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Fiscal Responsibility Commission Backs Controversial Tax Reform Bills

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tax-to-GDP ratio

By Adedapo Adesanya

The Fiscal Responsibility Commission (FRC) has expressed strong support for the controversial Tax Reform Bills currently before the National Assembly.

The bills, developed by the Presidential Fiscal Policy and Tax Reforms Committee on instruction by President Bola Tinubu, aim to improve fiscal governance, transform public revenue architecture boost economic growth.

The Chairman of the commission, Mr Victor Muruako, expressed the support of the organisation at an interaction with academics and journalists on the sidelines of the Fellowship Lecture and Investiture Ceremony of the Capital Market Academics of Nigeria (CMAN) on Monday in Abuja.

According to a statement by FRC’s Head of Strategic Communications Officer, Mr Bede Anyanwu on Tuesday, the agency revealed that a critical analysis of the bills showed that it does not contain any issue or item that could be said to be skewed to favour any region or section of the country.

“The bills rather create a more equitable distribution of resources amongst Nigeria’s federating states,” Mr Muruako added, noting that the analysis also confirmed that the proposed reforms are designed to benefit all Nigerians, particularly low-income earners and Micro Small and Medium Businesses (MSMBs).

Mr Muruako outlined some of the key benefits of the reforms, including tax relief for low-income earners: individuals earning less than N1.7 million annually will pay less income tax, exemption of tax on small businesses with turnovers below N50 million, and exemption of over 90 per cent of small businesses from profit tax payment.

It was stated that the new bills intend to simplify tax administration in the country and make it more transparent.

Increasing revenue for subnational governments as states and local governments will receive a larger share of VAT revenue, empowering them to provide better public services, and improving ease of doing business, noting that reforms will reduce the administrative burden on businesses and make it easier to comply with tax regulations.

The FRC explained that it is upbeat that the tax relief for low-income earners will enhance savings and capital formation at household levels.

The commission also expressed confidence that given the positive correlation between savings and investment, explaining that the increase in small household investments across the board would lead to improvements in the sustainable growth of the nation’s economy.

He also opined that the reduced tax burden on small businesses would give Micro-Small Medium Enterprises breathing space, and enable them to grow organically, hence contributing to a sustained increase in the nation’s GDP in the near future.

On the recent controversies over the bills, Mr Muruako praised President Tinubu for allowing room for further dialogue, appealing to all stakeholders across geopolitical zones to support the bills because their transformative potentials stand to benefit every Nigerian.

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CSCS Gets Dual Management System Certifications

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CSCS Haruna Jalo-Waziri

By Adedapo Adesanya

Central Securities Clearing System (CSCS) Plc has been awarded the ISO/IEC 27001:2022 and ISO 22301:2019 certifications by the globally renowned Management System Certification Body (MSECB).

According to a statement from the firm, the Managing Director of CSCS, Mr Haruna Jalo-Waziri, said the ISO 27001 is an internationally recognised benchmark for managing information security, ensuring robust protection against data breaches and IT disruptions.

The ISO 22301 standard is an international standard that establishes the requirements for business continuity management systems.

Mr Jalo-Waziri said this recognition underscores CSCS’s steadfast commitment to international best practices in information security management and business continuity.

He noted that the ISO/IEC 27001:2022 certification highlights CSCS’s adherence to stringent information security measures, ensuring robust protection against data breaches and IT disruptions.

Mr Jalo-Waziri said that the ISO 22301:2019 certification also confirms CSCS’s business continuity and readiness to respond to unexpected incidents, minimising disruptions and safeguarding stakeholders’ interests.

“Achieving these certifications is a testament to our deliberate and strategic focus on embedding a culture of excellence, resilience, and trustworthiness in our operations.

“It underscores our commitment to maintaining the highest standards of information security and business continuity in delivering value to our stakeholders.

“These certifications position CSCS alongside leading global organisations that prioritise the confidentiality, integrity, and availability of information systems.

“They further validate the organisation’s dedication to securing its clients’ trust and ensuring operational resilience,” he said.

The CSCS MD added these certifications not only reinforce the trust of its clients, stakeholders, and regulators but also to validate the hard work and dedication of its team.

He said, that as Nigeria’s premier financial market infrastructure, the firm remains resolute in its mission to enable market confidence through best-in-class services and practices.

According to him, receiving these certifications from MSECB strengthens CSCS’s reputation as a reliable partner and a leader in the financial market ecosystem.

He said that the certifications assure stakeholders that CSCS’s processes are periodically monitored to meet and exceed compliance requirements.

This achievement, Mr Jalo-Waziri said, was a significant milestone in CSCS’s journey to consistently deliver secure, resilient, and innovative solutions to the Nigerian capital market and beyond.

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