No Changes To Budget Figures- Buhari

President Muhammadu Buhari has said that there are no changes in the draft bill and figures contained in the 2016 budget proposal he presented before a joint session of the National Assembly on December 22 last year. Controversy had broken out last Tuesday on the budget following revelation by the Senate that copies of the estimates were missing.

The controversy deepened on Thursday when Senate President Bukola Saraki said that based on the findings of a committee of the Senate, there were two versions of the budget as presented by Buhari in circulation. But the House of Representatives on Wednesday refuted the claims on the missing budget as it displayed copies of the bill during plenary.
However, in a letter addressed to both Saraki and Speaker Yakubu Dogara, dated January 15, 2016, Buhari said he had indicated during his budget presentation that details of the appropriation bill would be checked “to ensure that there were no errors.”
In the letter, Buhari said: “It will be recalled that on Tuesday, 22 December, 2015, I presented my 2016 budget proposals to the joint sitting of the National Assembly. I submitted a draft bill accompanied by a schedule of details. “At the time of submission, we indicated that because the details had just been produced, we would have had to check to ensure that there were no errors in the detailed breakdown contained in the schedule. That has since been completed and I understand that the corrections have been submitted.
“The National Assembly would therefore have the details as submitted on the 22nd and a copy containing the corrections submitted last week. It appears that this has led to some confusion. “In this regard, please find attached the corrected version. This is the version the National Assembly should work with as my 2016 budget estimates. The draft bill remains the same and there are no changes in any of the figures,” Buhari said in the letter, expected to be read at both chambers during plenary today. 

Credit: DailyTimes

Report Uncovers Shocking Figures Allegedly Embezzled Out Of Nigeria In 9 Year

Over $7.8 trillion was siphoned from the world’s developing and emerging economies between 2004 and 2013, and over $17.8 billion (about N3.4 trillion) of that amount, was from Nigeria, a new report on global illicit financial flows has said.

Nigeria is among the world’s top 20 countries with the biggest losses from skewed financial transactions, the report noted.

South Africa leads the pack in Africa with $209.22 billion lost over the period. It occupies the seventh position on global ranking.

Globally, China leads with $1.39trillion, followed by Russia ($1.05trillion), Mexico ($528.44billion), India ($510.29billion), Malaysia ($418.54billion) and Brazil ($226.67billion), Thailand ($191.77billion) and Indonesia $180.71billion.

Others include Kazakhstan ($167.40billion), Turkey ($154.50billion), Venezuela ($123.94billion), Ukraine ($116.76billion), Costa Rica ($113.46bilion), Iraq ($105.01billion), Azerbaijan ($95.00billion), Vietnam ($92.94billion), Philippines ($90.25billion) and Poland ($90.02billion).

Illicit financial flows are transactions involving the transfer of the proceeds from the exploitation of the resources from a particular region to another, either through money laundering and other illegal means, or commercial activities, without the commensurate value in returns.

The report published on Wednesday by Global Financial Integrity, GFI, a Washington DC-based research and advisory group, said illicit financial flows from developing and emerging economies, which stood at just $465.3 billion in 2004, rose sharply to $1.1 trillion in 2013 alone.

Credit: PremiumTimes

Conflicting Death Figures Trail Pro-Biafra Police Clash

Conflicting death toll trails the violence that erupted after pro-Biafra protesters clashed with security operatives at the bridge head axis of Onitsha, Anambra State.

Some accounts say between nine and thirteen people died in the protest, the Nigerian police say only one person, a policeman lost his life in the clash.

Other accounts allege that the JTF comprising the Army, Navy, Police and Civil Defence troops opened fire at protesting members of the Indigenous People Of Biafra, (IPOB), and Movement for the Actualisation of the Sovereign State of Biafra, (MASSOB) which killed about nine people and injured 18.

Traffic flow has however resumed after over twelve hours gridlock occasioned by agitating members of the Indigenous People of Biafra, (IPOB).

Credit: ChannelsTV