President Muhammadu Buhari on Sunday said Nigeria will fight corruption for life.
“Nigeria’s abiding commitment to the fight against corruption today, tomorrow and the day after tomorrow,” Buhari said while inaugurating the African Anti-Corruption Year 2018 during the opening of the 30th Ordinary Session of the Assembly of Heads of State and Government of the African Union in Addis Ababa, Ethiopia.
According to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President described corruption as one of the greatest evils of our time, adding that Africa loses about $50bn yearly to the vice.
“Corruption is indeed one of the greatest evils of our time. Corruption rewards those who do not play by the rules and also creates a system of distortion and diversion thereby destroying all efforts at constructive, just and fair governance,” Buhari was quoted as saying.
Being the champion of the theme of the 30th AU Summit, “Winning the Fight against Corruption: A Sustainable Path to Africa’s Transformation,” the President thanked his African colleagues for entrusting him with such a noble responsibility.
Revealing that Africa loses about $550bn annually to corruption, he advocated greater efforts in addressing “the causal relationship between corruption and illicit financial flows.”
Drawing the attention of his colleagues to the “corrosive role that tax havens and secret jurisdictions play in concealing ill-gotten assets,” Buhari said the continental body “must do more to stop the continuous assault on our economic and financial resources by multinationals in collusion with some of our citizens.”
He pledged to do his best “to ensure that the anti-corruption agenda will receive the attention it deserves and make the impact we all hope for, during 2018 and beyond.”
The President, who noted that Africa had made some significant strides in enacting legal and policy frameworks such as the African Union Convention on Preventing and Combating Corruption to address the vice, said the desired impact had been lacking.
“Fifteen years after the adoption of the African Union Convention, 2018 provides a good starting point to take stock of progress made so far, assess what still needs to be done and devise new strategies to address new corruption challenges,” he said.
According to the President, in spite of sustained economic growth on the continent for the past two decades, “public confidence has been eroded by a focus on short-term priorities and payoffs, propelled by corruption, which too often leaves projects uncompleted and promises unfulfilled.”
He identified other negative effects of corruption as, posing a real threat to national security; eroding the development of a universal culture of good governance, democratic values, gender equality, human rights, justice and the rule of law.
In tackling bribery and corruption, the Nigerian leader said the crucial place of strong institutions could not be over-emphasised.
Source: ( Punch Newspaper )
2020 Finance Bill Exempts Minimum Wage Earners From Tax: Buhari
President Muhammadu Buhari has revealed that the recently proposed 2020 Finance Bill will exempt workers earning the minimum wage from paying tax.
Buhari disclosed this on Monday in a speech delivered virtually by Vice President, Yemi Osinbajo at the opening session of the 26th Nigerian Economic Summit Group Conference themed: “Building Partnerships for Resilience.”
“We are proposing in the new Finance Act that those who earn minimum wage should be exempted from paying income tax,” he was quoted as saying in a statement issued by the Senior Special Assistant to the President on Media and Publicity, Laolu Akande.
“These provisions which complement the tax breaks given to small businesses last year will not only further stimulate the economy but are also a fulfilment of promises made to take steps to help reduce the cost of transportation and the impact of inflation on ordinary Nigerians.”
Nigeria Will Exit Recession By First Quarter Of 2021 – Finance Minister
Minister of Finance, Budget and National Planning, Zainab Ahmed has revealed that Nigeria would emerge from recession in the fourth quarter of this year or by the first quarter of 2021.
Speaking on Monday at the ongoing 26th Nigerian Economic Summit organized by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning, Zainab said the current recession would be short-lived.
She blamed COVID-19 for the current recession, saying it followed the pattern across the world where many countries had entered an economic recession.
“Nigeria is not alone in this, but I will say that Nigeria has outperformed all of these economies in terms of the record of a negative growth,” Ahmed said.
Court Remands Nigerian Senator, Ali Ndume, In Prison
Senator Ali Ndume, the lawmaker representing Borno South Senatorial district has been ordered on Monday by a federal high court to be sent to prison.
The order follows his inability to produce Abdulrasheed Maina, the former Chairman of the defunct Pension Task Team, whom he stood as surety for in his corruption and money laundering trial.
The high court, sitting in Abuja was presided over by Justice Okon Abang and ordered Senator Ndume to be remanded in Kuje correctional centre.
Justice Abang, however, gave three conditions upon which Ndume can regain his freedom namely payment of N500m bail bond into the Federation Account of the Federal Government and present evidence of such payment in court or the FG sells the property situated in Asokoro, Abuja which Ndume pledge as security for the bond and present evidence of sale and payment of the N500m realised into the Federation Account or he (Ndume) produces Maina, who is believed to have now jumped bail, in court.
Shortly after the pronouncement by the Judge, Senator Ndume was led away from the courtroom by security operatives.
- Entertainment14 hours ago
Faithia Williams Condoles Iyabo Ojo Over Mother’s Death
- National News18 hours ago
NLC, TUC Stage Walk Out From Meeting With FG
- National News17 hours ago
CCB Invitation: Magu Can’t Access Assets’ Documents, Says Lawyer
- Entertainment15 hours ago
“It’s Different And Classy” – Cardi B Praises Erica’s Fashion Style
- News Feed13 hours ago
Iyabo Ojo Finds Out Her Mum Lied About Her Age (Video)
- Metro News17 hours ago
Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu
- National News17 hours ago
Saraki Reacts To Kidnap, Killing Of Worshippers In Zamfara Mosque
- Entertainment10 hours ago
Cossy Orjiakor Replies Fans Who Criticized Her For Wearing A Racy Outfit While Preaching About God