General
Transparency: Lagos Assembly to Amend State Audit Law
By Modupe Gbadeyanka
The Lagos State House of Assembly has concluded arrangement to strengthen the Audit Law in the state by amending it.
Speaking during a day public hearing on A Law to Amend the Lagos State Audit Law on Friday, Speaker of the House, Mr Mudashiru Obasa, said government must be transparent.
Mr Obasa, who was represented at the event by the Majority Leader, Mr Sanai Agunbiade, said government needed to generate revenue to serve the people and that government’s money must be spent for the purposes it is meant for.
“The Audit Department is very important and we must continue to make it functional and effective. The central internal audit is domiciled in Public Finance Management Law.
“The Bill seeks to amend 23 Sections of the law, take it to Audit Service Commission and bring all the auditors under one umbrella to exclude the control of Central Internal Audit from the Ministry of Finance.
“It is to extend the application of the audit law to local government audit commission.
“It is also to take care of little lapses in the law and strengthen our audit system in the state,” he said.
In his welcome address, Chairman of the House Committee on Public Accounts, Mr Moshood Oshun, said the amendment was necessary.
Mr Oshun added that the auditors, who he said were the state police, serve as checks and balances on the state’s budget.
The lawmaker stated that the auditors monitor the state’s expenditures, and commended the Auditor General of the state for what she has been doing.
Mr Oshun promised that the House would do its best and do the utmost for the auditors so that the tax payers would have confidence in the government.
“We will do everything within our powers for the auditors to give the best so that they can give us a good report, which would be properly treated.
“I want to appeal to the auditors to do the best within their ability so that we can have the Lagos of our dream that can be compared to any state in the world.
“You must do everything possible to be the state police on auditing.
“We must all contribute objectively to make the bill a better one. You can give us a memo to have a bill that we all can be proud of,” he said.
In his contribution, Chairman of the Lagos State Audit Service Commission, Mr Waliu Abiodun Onibon, observed that the original bill was passed in 2010 and not 2015, and that the Permanent Secretary to be appointed should be a chartered accountant by profession, saying that he is in-charge of in-house administration.
He suggested that the Chairman of the Commission should also be a professional accountant with cognate experience.
The State Auditor General, Mrs Morenike Helen Deile, stated that Public Sector Audit experience must be different from private experience, and that the two of them must have public sector experience.
Mrs Deile added that the commission would formulate polices, while the audit agencies would implement the policies.
“The Auditor General would be appointed on the recommendations of the State Civil Service Commission. Local Government Service Commission has nothing to do with it, it should be Audit Service Commission.
“Public financial management is a global framework. We should not repeal the provision in that law,” she said.
The Auditor General, who welcomed the amendment, stated that it would further empower auditors.
She stressed that there was no issue with her staff and that the MDAs have improved.
“There are always challenges because nobody wants to be audited. But by and large because of education we are not hostile to them, we are now strategic partners.
“The Lagos State Government started electronic financial system years back, but we cannot cut off from paper auditing just like that.
“We do electronic auditing of basic agencies that are on the platform. We even train system auditors amongst us and we give reports to the Assembly. We are telling the MDAs to do proper record keeping,” she said.
Also speaking, the Chief Executive of the Institute of Internal Auditors, Mr Humphrey Okorie, said the state was moving closer to international best practise on auditing, and commended the stat for the establishment of Audit Service Commission.
Composition of the commission
Mr Okorie advised that the commission should comprise a chairman and four others with a professional accountant and a professional auditor with 10 years’ experience.
He observed that there was a difference between internal auditing and accounting even if they are related.
According to him, an experienced auditor should be appointed as the Permanent Secretary, while there should be a Bureau for Internal Audit Services for the effectiveness of governance system and processes.
He added that internal auditors ought to be in various agencies to ensure that the necessary systems work.
“The head of Bureau for Internal Audit Services should be appointed by the Governor with cognate experience.
“He should not be at the director level. He should be reviewing and maintain services and ensure proper accountability and transparency,” he said.
Mrs Joko Ogundimu from the Lagos State Audit Service Commission said the main function of the Audit Service Commission was human resource management of auditors.
Mrs Ogundimu stated that the government must recruit people with experience in human resource management.
“Office of the Auditor General for Lagos State and Local Government should be Office of Auditor General for Lagos State, Local Government, and Internal Audit.
People in internal audit should have the appropriate experience. The status of the head of Central Internal Audit must also be a Permanent Secretary,” she said.
General
Olam Agri to Sustain Significant Investments in Workforce, Food Value Chain
By Aduragbemi Omiyale
The managing director of Olam Agri in Nigeria, Mr Anil Nair, has assured us that more investments in the company’s workforce will be made for economic growth.
He gave this assurance while reacting to the recognition of the organisation as a Top Employer for the fifth consecutive time by the Top Employers Institute.
“As we celebrate this recognition, we also look to the future. Olam Agri is committed to scaling our HR practices to ensure alignment with global standards.
“We will continue to make significant investments in our people and the food value chain, enriching lives and driving economic growth.
“Our goal is to create an environment where our employees can excel and thrive, and we are dedicated to achieving this.
“Olam Agri’s continued success as a Top Employer reflects its unwavering dedication to fostering growth, well-being, and excellence in its operations,” he stated.
Also commenting, the firm’s Regional Head of Human Resources, Jaideep Biswas, said, “Our people-centric strategy aligns with the dynamic demands of the global talent landscape, embedding diversity, equity, and inclusion at the core of our operations.
“This certification validates our approach, but we’re not stopping here. We remain committed to helping our workforce thrive in a rapidly evolving work environment.”
In the annual HR Best Practices Survey of the Top Employers Institute, Olam Agri in Nigeria was named the Top Employer because of its exceptional workplace culture, innovative HR strategies, and growing appeal to talent locally and globally.
“Consistency in a not-so-consistent world is remarkable. Amidst technological advances, economic shifts, and evolving social landscapes, it’s inspiring to see organisations like Olam Agri rise to the challenge.
“This year’s certification celebrates those who continue to lead with people-first strategies, setting the standard for enriching the world of work,” the chief executive of Top Employers Institute, Mr David Plink, said.
The institute evaluates organisations based on a comprehensive survey covering six key HR domains and 20 topics: People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity and Inclusion, and Wellbeing.
Since 2020, Olam Agri’s operations in Côte d’Ivoire, Ghana, Nigeria, South Africa, and the Africa region have consistently earned top rankings, solidifying its reputation as an employer of choice.
As a leading agribusiness in food, feed, and fibre, Olam Agri is deeply committed to making a positive impact on its workforce, customers, host communities, and stakeholders.
General
Proposed NLC Protest Over Tariff Hike Unnecessary—Subscribers
By Adedapo Adesanya
The National Association of Telecommunication Subscribers (NATCOMS) has distanced itself from the planned industrial action by the Nigeria Labour Congress (NLC) against the recently approved telecommunication tariff hike.
According to NATCOMS President, Mr Deolu Ogunbanjo, in a statement on Thursday, the proposed protest was unnecessary, warning that it could send negative signals to investors.
Earlier this week, the Nigerian Communications Commission (NCC) approved a 50 per cent tariff adjustment in response to rising operational costs following over 11 years of discussion.
The move has raised worries and one of the parties which have been vocal about is NATCOMS.
The subscribers’ group and the labour union criticized the move, describing it as excessive and burdensome for Nigerian consumers.
On the part of the union, Mr Joe Ajaero, the NLC President, called on the industry regulator and the National Assembly to halt the 50 per cent implementation, urging Nigerian workers and the public to reject the hike, suggesting a nationwide boycott of telecommunication services as a possible course of action.
“This is for our dignity, our rights, and our survival as a people. The NLC remains resolute in defending the interests of Nigerian workers and the masses.
“We will resist this injustice and demand that the government prioritizes the interests of its citizens over corporate interests,” Mr Ajaero said.
But NATCOMS has advocated legal action and not the proposed protest.
“We do not support the Nigerian Labour Congress’ call for industrial action. No, we don’t! NATCOMS is not in support,” Mr Ogunbanjo stated.
“To investors and businesses, it is a wrong signal. Negotiation is still ongoing, and the tariff hike is scheduled for February. We still have eight days,” he added.
Business Post had reported that NATCOMS is engaging with the NCC to find a resolution and is prepared to approach the courts if consultations fail.
General
Five Firms Get N16.3bn for 68km Rural Roads in Oyo
By Modupe Gbadeyanka
Five construction companies have sealed a deal worth N16.3 billion to construct about 68 kilometres of rural roads under phase 1 of the Oyo State Rural Access and Agricultural Marketing Project (Oyo RAAMP).
The roads, according to the Commissioner for Agriculture and Rural Development, Mr Olasunkanmi Olaleye, cut across five local government areas of the state.
He said the project was expected to have a positive impact on lives of rural communities, farmers, and traders as well as market hubs to reduce post-harvest loss of agricultural products.
The Commissioner urged the firms to execute quality and satisfactory jobs since they emerged from the highly competitive bidding and procurement processes.
Mr Olaleye explained that the phase 1 intervention roads of backlog maintenance/rehabilitation and cross drainage structures would include the Fashola Farm settlement road networks in Oyo West, the Oloko Oyo Junction-Ikere Junction in Iseyin Local Government, the Alako-Idiya-Batake-Olowa Farm settlement in Ido Local Government, the Adebayo-Alata-Aba Oje in Oluyole local government, the Okudi-Oyada road in ATISBO Local Government, and the Tewure-Ila junction road in Oriire local government.
The contractors awarded the road projects are Dephhanny’s Venture Limited, Messrs CGC Nigeria Limited, Messrs Coastline Engineering Limited, Messrs Lopek Engineering and Construction Limited, and Messrs E.A.A Engineering Limited.
Speaking at the signing ceremony, the Permanent Secretary in the Ministry of Agriculture and Rural Development, Mrs Abosede Owoeye, said that the objectives align with the vision of Governor Seyi Makinde to support farmers with the necessary equipment to enhance food security, adding that this was one step closer to achieving its goals of promoting economic growth, improving livelihoods, and enhancing food security.
She, therefore, thanked the federal government, the World Bank, and the French Development Agency for the support.
In her remarks, the Oyo State Project Coordinator for Rural Access and Agricultural Marketing Project, Ms Adeola Ekundayo, urged the contractors to cooperate with stakeholders who will be monitoring their activities.
-
Feature/OPED5 years ago
Davos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN