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Senate to work towards reducing Nigeria’s borrowing — Lawan

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Lawan urges govts to invest more in public schools

The President of the Senate, Ahmad Lawan, has said that the upper chamber will work with revenue generating agencies towards reducing the level of the nation’s borrowing.

Lawan said this on Wednesday in Abuja, at an event to mark his 63rd birthday.

He said that the senate would support and supervise the agencies and keep them on their toes “for us to have more revenues in order to reduce the level of borrowing.”

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“The upper chamber in the first-quarter of this year will focus on addressing the challenges of revenue generation, collection and remittance to shore up earnings by the Federal Government.

“An improvement to the country’s revenue figures will reduce Nigeria’s dependence on external borrowings for the execution of capital projects captured in the national budget.

“We still have a huge responsibility, and in fact, it is something that we wanted to do last year, but because of the COVID-19 pandemic we couldn’t do so.

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“This year, by the grace of God, we are going to resuscitate that plan and it is to keep and maintain focus on revenue generation, collection and remittance.

“Our revenue to GDP ratio is very low and the economists will tell you Nigeria’s problem is not debt, but revenue.

“So, if that is the case, it means those of us in government must focus on dealing with the challenges of revenue generation, revenue collection and remittance.

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“This year, we are going to have engagements with the revenue generating agencies such as Nigerian Ports Authourity (NPA), Customs, Federal Inland Revenue Service (FIRS) and so on, on a quarterly basis, to have their targets set for them, and we want them to come and brief us on their performance every quarter.

“We hope to start the first meeting, which is an exploratory kind of meeting with them either this month or early February.

“We want to see how we can make positive difference in the area of revenue generation.

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“Nobody likes taking loans, borrowing or accumulating debts, whether as an individual, a family, a community or as a country.

“But what can you do when you’re not able to generate enough? We are as concerned as anybody else about our level of borrowing, even though we have not saturated, but if we can do better why not reduce, and the best way to reduce is to get more revenues from especially independent sources.

“The government owned enterprises are supposed to give us more money. In 2022, we are expecting maybe about a trillion, I’m not an economist, but I believe that we should be expecting maybe double or triple from them.”

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Lawan further said that the National Assembly this year, would also focus on security through oversight of funds appropriated in the budget to the armed forces and security agencies.

He explained that doing so would guarantee transparency in the procurement process and ensure the welfare of military and security personnel tasked with restoring security across the country.

“Today, the security situation still begs for more attention. We will give a lot of attention to the security situation.

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“We have appropriated about a trillion naira for our security agencies and armed forces, now it is for members of the National Assembly to ensure that the procurement process by the armed forces are transparent and everybody there is accountable.

“Of course, we should do oversight as much as possible for the welfare of our soldiers and security personnel. They need to continuously be motivated,” he said.

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Responsible Gambling Betting Sites

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As the on-line betting market continues to grow, it’s important for players to be aware of accountable gaming techniques. Accountable gambling wagering sites are systems that prioritize the wellness of their consumers and promote safe and liable betting behaviors.

What are Accountable Gambling Betting Sites?

Accountable gambling wagering sites are on the internet platforms that intend to avoid and resolve trouble wagering habits. These websites provide resources and tools to help customers handle their gaming routines, such as setting down payment restrictions, self-exclusion alternatives, and access to sustain solutions.

Liable gaming wagering sites additionally advertise openness and justness in their procedures, guaranteeing that consumers recognize the threats connected with betting and supplying information on just how to seek aid if needed.

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By promoting accountable gaming methods, these websites aim to develop a risk-free and satisfying environment https://www.trustpilot.com/review/clarohorizonte.com for all players, while minimizing the possible injury that can be related to problem gaming.

  • Establishing down payment limitations
  • Self-exclusion options
  • Access to sustain solutions
  • Advertising openness and fairness

Exactly How to Determine Liable Gambling Betting Sites

There are numerous key signs that can assist you determine liable gaming wagering sites. Try to find systems that plainly display details on accountable gambling, consisting of web links to support services and resources for handling gambling habits.

Liable gaming wagering websites often have devoted sections on their internet sites that outline their dedication to advertising safe and responsible betting practices. They might additionally show logo designs or qualifications from organizations that concentrate on responsible gambling, showing their commitment to this crucial concern.

Furthermore, responsible gambling wagering websites normally give tools and attributes that permit users to set limitations on their betting activity, such as deposit limitations, time frame, and self-exclusion choices. These functions help individuals take control of their gambling behaviors and stop excessive or damaging actions.

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The Relevance of Accountable Gaming

Liable gaming is crucial for safeguarding players from the prospective harms of issue gaming. By advertising responsible betting practices, betting sites can help avoid dependency, economic difficulty, and various other negative consequences that can arise from too much betting.

  • Safeguarding players from the damages of problem wagering
  • Preventing addiction and monetary difficulty
  • Advertising a safe and satisfying betting setting

Final thought

Responsible gaming wagering websites play an important duty in advertising safe and responsible betting behaviors. By providing sources, tools, and assistance services, these platforms assist users manage their betting habits and reduce the threats associated with trouble betting.

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Inclusive Development Launches Policy Guide to Strengthen Civic Engagement in Nigeria

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A youth-led organisation, Inclusive Development (INCLUDE), has unveiled the Change-Maker’s Public Policy Guide, a new resource aimed at empowering young Nigerians with the skills and knowledge needed to participate actively in governance, policymaking, and accountability processes.

The guide was launched in Abuja on Friday at the conclusion of a five-week intensive capacity-building programme designed to strengthen youth engagement in public policy development and civic participation.

Speaking during the unveiling, the Executive Director of Inclusive Development, Bukola Taiwo, said the initiative was created to address the gap between young people’s desire to influence governance and their understanding of how public policy systems operate.

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According to her, many young Nigerians are eager to contribute to governance but often lack the practical knowledge required to engage effectively with policy structures and decision-making processes.

Taiwo explained that the programme trained 20 young participants in key areas of public policy, governance, and accountability. Of the participants, 17 successfully developed policy briefs addressing critical issues affecting their communities and the country.

She noted that the trainees collaboratively developed the Change-Maker’s Public Policy Guide as a practical resource to help young Nigerians navigate policy processes at both national and sub-national levels.

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“The programme focused on amplifying the voices of young people in public policy discussions and equipping them with the skills needed to engage governance and accountability systems effectively,” she said.

She added that the guide was designed to help emerging changemakers understand how policies are formulated, identify opportunities for engagement across different levels of government, and contribute meaningfully to governance reforms.

The training programme covered several aspects of policy development and advocacy, including policy research, systems thinking, power mapping, problem analysis, and strategic storytelling.

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Participants were introduced to analytical tools such as systems change frameworks, power mapping models, and problem analysis techniques to enhance their ability to identify policy challenges and propose evidence-based solutions. The programme also highlighted the role of storytelling in shaping public discourse and influencing policy outcomes.

The initiative was organised by Inclusive Development (INCLUDE) with support from the Nigeria Youth Futures Fund and the Amandla Institute for Leadership and Policy Advancement.

Taiwo reaffirmed the organisation’s commitment to empowering young people, particularly those from underserved and marginalised communities, to participate meaningfully in governance and development processes.

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Inclusive Development (INCLUDE) is a youth-led organisation dedicated to promoting equity, peace, and justice through initiatives that empower underserved populations. The organisation operates at the intersection of governance, peacebuilding, and gender justice to advance sustainable development in Nigeria and across Africa.

Stakeholders at the event described the guide as a timely intervention capable of deepening youth participation in policymaking and fostering stronger connections between citizens and governance institutions.

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Storm at NSITF as ₦297bn Workers’ Fund Allegations Trail MD/CEO Oluwaseun Mayomi Faleye

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Fresh allegations of large-scale financial irregularities, abuse of office, and governance breakdown have engulfed the Nigeria Social Insurance Trust Fund (NSITF), following a series of petitions by the Arewa Revival Project, a civic accountability and good-governance advocacy group, calling for urgent investigations into the activities of the Managing Director/Chief Executive Officer, Mr. Oluwaseun Mayomi Faleye.

The group has formally written to the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Office of the Auditor-General of the Federation, the Federal Ministry of Finance under the Whistleblower Policy, the Federal Ministry of Labour and Employment, the NSITF Management Board, as well as organised labour bodies, including the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

At the centre of the controversy are allegations involving the management of approximately ₦297,019,145,288.60 in workers’ funds collected under the Employees’ Compensation Act (ECA) between January 2 and October 9, 2025.

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Workers’ Funds, Not Government Revenue

The Employees’ Compensation Scheme is funded through compulsory employer contributions of one per cent of payroll, designed to provide compensation to Nigerian workers who suffer injury, disability, or death in the course of employment.

According to multiple senior NSITF officials cited in investigative reports, the funds administered by NSITF are not government revenue, but trust funds belonging exclusively to Nigerian workers.

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“This is not government money. This is workers’ money, contributed mandatorily under the law,” one senior official was quoted as saying. “Every kobo is supposed to be protected by layers of checks and balances.”

₦243.2bn Allegedly Spent Without Board Approval

Documents reviewed by investigators indicate that out of the total inflow of ₦297,019,145,288.60, expenditures amounting to ₦243,203,518,621.17 were recorded within the same period.

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Multiple sources allege that a significant portion of this expenditure was carried out without the approval of the NSITF Management Board, in violation of the NSITF Act and existing federal financial regulations.

Officials familiar with the records described the development as a “complete collapse of safeguards” meant to protect workers’ funds.

‘No Approval Limit’ Resolution Raises Alarm

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Central to the allegations is an internal document dated March 4, 2025, reportedly extracted from the minutes of the 46th Executive Committee (EXCO) meeting of NSITF, chaired by Mr. Faleye.

According to the document, financial approval limits were set as follows:

  • Other General Managers: ₦25,000
  • General Manager (Finance): ₦50,000
  • Other Executive Directors: ₦750,000
  • Executive Director (Finance and Investment): ₦1,000,000

However, under the same resolution, the Managing Director/Chief Executive Officer allegedly approved “no limit” for his own spending authority.

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Sources allege that this effectively granted Mr. Faleye unrestricted powers to approve payments of any amount without recourse to the Board or external oversight.

“He simply wrote and signed a document granting himself ‘No Approval Limit’,” a senior official disclosed. “There is absolutely no legal basis for this in the NSITF Act or federal financial regulations.”

Under existing federal thresholds, Managing Directors of government parastatals are reportedly capped at ₦30 million for works and ₦10 million for goods and services, subject to board oversight.

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Over 100 Bank Accounts Linked to One BVN

Perhaps the most startling allegation involves the operation of over 100 bank accounts allegedly linked to a single Bank Verification Number (BVN) belonging to Mr. Faleye.

Documents reportedly show that the BVN, registered on June 10, 2015, with Guaranty Trust Bank, Ajose Adeogun Branch, is associated with numerous accounts, some of which allegedly received funds traceable to NSITF operations.

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“The scale is staggering,” one insider said. “You don’t run over 100 accounts accidentally. This points to systematic structuring.”

$7.3m and Hundreds of Millions of Naira Traced

In a separate document obtained by investigators, alleged inflows of millions of dollars and hundreds of millions of naira were traced to accounts linked to Mr. Faleye and entities reportedly associated with him.

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The transactions listed include:

  • Faleye Oluwaseun Mayomisola, GTBank USD Account 0111206422 – $336,917.00
  • Faleye Oluwaseun Mayomisola, GTBank USD Account 0004754113 – $6,743,421.00
  • Faleye Oluwaseun Mayomisola, GTBank NGN Account 0004754096 – ₦291,182,605.00
  • Fides & Fiducia Client Account, Access Bank NGN Account 0718896883 – ₦584,950,000.00
  • Fides & Fiducia, Access Bank USD Account 0690403396 – $626,279.00
  • Fides & Fiducia, Zenith Bank NGN Account 1013806407 – ₦93,757,500.00
  • Pluschess Limited, Zenith Bank USD Account 071315271 – $20,000.00
  • Faleye Oluwaseun Mayomisola, GTBank USD Account 3001101016 – $75,558.00

The total dollar inflow alone is estimated at over $7.3 million, excluding naira-denominated transactions.

“These are not small transfers,” a source familiar with the documents said. “The volume, frequency, and structuring suggest deliberate efforts to move and possibly conceal funds.”

₦5.53bn Commission Payments Questioned

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Further allegations relate to commission payments totalling ₦5,533,517,486.90, allegedly approved and paid without the consent of the NSITF Management Board or the supervising Ministry.

The payments reportedly include:

  • ₦1,379,186,010.00 – Assurance Services ST ADBA Ltd (09/10/2025)
  • ₦865,000,000.00 – TAGG Global Resources Ltd (18/03/2025)
  • ₦683,777,666.40 – Rate Seal Support & Project Ltd (17/09/2025)
  • ₦659,303,810.50 – Rate Seal Support & Project Ltd (16/05/2025)
  • ₦648,750,000.00 – Rate Gold Solution Nig Ltd (16/05/2025)
  • ₦648,750,000.00 – Gold Solution Nig Ltd (01/08/2025)
  • ₦648,750,000.00 – TAGG Global Resources Ltd (01/08/2025)

Sources allege that the commissions ranged between 15 per cent and 20 per cent, and were paid without lawful authority.

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Board Absence and Governance Vacuum

Mr. Faleye was appointed Managing Director in July 2023, while the NSITF Management Board was reportedly not constituted until around January 2025, creating a governance gap of over one year.

“The Act expressly forbids Executive Management from spending funds without board approval,” a top official explained. “If there is no board, spending should not take place.”

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Arewa Revival Project Condemns Alleged Acts

Reacting to the allegations, the Arewa Revival Project, under the leadership of Hon. Muttakka Ahmed Ibrahim, condemned the alleged acts, describing them as a grave betrayal of public trust if proven.

The group called on President Bola Ahmed Tinubu, as well as all relevant anti-corruption and regulatory authorities, to urgently investigate the allegations to protect workers’ funds and restore confidence in public institutions.

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Responses from Officials

When contacted, Mr. Faleye reportedly stated that he was not aware of the allegations. However, when questioned about the dollar accounts and alleged inflows of over $7.3 million, he reportedly ended the call abruptly.

The Permanent Secretary of the Ministry of Labour, Mr. Salihu Usman, reportedly denied prior knowledge of the alleged transactions, while the Chairman of the NSITF Board, Mr. Shola Olofin, requested time to verify the claims.

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Presumption of Innocence

All allegations remain unproven and subject to investigation. Analysts note that the unfolding developments represent a major test of Nigeria’s public finance accountability framework, particularly in institutions entrusted with workers’ welfare.

As investigations commence, millions of Nigerian workers await answers over the safety of funds meant to protect them in times of injury, disability, and loss.

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