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Tag: Lawmakers

  • Trouble looming for Nigeria’s FX inflows over American Lawmakers proposed US tax on remittances

    Trouble looming for Nigeria’s FX inflows over American Lawmakers proposed US tax on remittances

    Lawmakers in the United States are weighing new legislation that could have far-reaching implications for emerging markets, particularly those that rely heavily on remittance inflows to bolster foreign exchange reserves and support currency stability.

    The proposed bill aims to impose a 5% tax on all remittances sent from US residents to recipients abroad, as part of efforts to improve fiscal revenues. We note that if passed, the legislation would require senders to pay the tax at the point of transfer, thereby increasing the cost of cross-border remittance transactions. Under the proposed framework, the 5% tax burden would fall on the sender in the US. However, there is a provision in the bill that allows verified US citizens to claim the remitted amount as a tax credit, potentially offsetting the financial impact for that group.

    For Nigeria, the implications are particularly concerning, given the critical role remittances play in supporting the current account balance.

    In 2024, remittance inflows reached a five-year high of US$23.8bn, equivalent to approximately 12.7% of GDP, and accounted for about 17% of the growth in the current account. We highlight that these inflows have been crucial in easing external financing pressures, supporting the stability of the local currency, and enhancing the disposable income of Nigerian households amid a challenging macroeconomic environment. Given that the US is reported to be one of the largest sources of remittances to Nigeria, any increase in the cost of sending funds could dampen overall inflows and adversely impact the many households that depend on remittances to sustain their livelihoods. Our baseline projections indicate that remittance inflows could rise by 6.2% year-on-year (YoY) to reach US$25.3bn, 13.4% of GDP, in 2025. However, the introduction of the proposed levy may dampen this momentum, potentially resulting in slightly lower inflows than anticipated.

    Beyond the direct financial burden, the proposed tax may unintentionally encourage the growth of informal or black-market remittance channels. Migrants abroad ineligible for tax credits may seek alternative and unregulated methods to send money home. This could undermine financial transparency, reduce the traceability of cross-border flows, and complicate the government’s efforts to harness remittances for national development.

  • Osun Speaker reacts to lawmakers’ defection rumour

    Osun Speaker reacts to lawmakers’ defection rumour

    The Speaker of Osun House of Assembly, Mr Adewale Egbedun, on Friday debunked the rumour that 25 Peoples Democratic Party (PDP) lawmakers had defected.

    In a statement issued in Osogbo by his Chief Press Secretary, Mr Olamide Tiamiyu, the speaker emphasised that the PDP lawmakers were solidly behind Gov. Ademola Adeleke and the party.

    He said those peddling the lies of defection were doing so to shortchange their paymasters, stating that nothing of such happened and would never happen.

    “The 8th Osun Assembly will continue to collaborate with the governor to ensure impactful governance of the citizens and development of the state,” he said.

    He, however, called on the governor not to be distracted by the noisemakers’ alarm, urging him to remain committed to his goals of transforming the state and the people.

    “We appreciate the people of Osun State and appeal for their continuous support for the PDP-led government under the leadership of Gov. Adeleke,” the speaker said.

  • Majority Leader, 3 other Edo lawmakers defect to APC

    Majority Leader, 3 other Edo lawmakers defect to APC

    Majority Leader in the EconHouse of Assembly, Donald Okugbe (PDP – Akoko-Edo II), and three other lawmakers on Wednesday, defected to the All Progressives Congress (APC).

    The other lawmakers are Bright Iyamu (PDP – Orhionmwon South II); Richard Edosa (PDP – Oredo West); and Sunday Ojezele (LP – Esan South East).

    By the defection, APC now has 13 members in the House while PDP members are 11.

    The lawmakers, who were received at the APC Secretariat in Benin, by the Acting State Chairman, Jarret Tenebe, cited deep divisions and unresolved crises within their former parties as reasons for their defection.

    Speaking on behalf of the group, Edosa described the move as a “defining moment”.

    He said that they believed in the vision of Gov. Monday Okpebholo and were committed to working with him to advance the state’s development.

    Welcoming them into the party, Tenebe said that their decision to join APC was a bold step toward a better future for Edo State.

    He said that they would enjoy equal rights and privileges like every other member.

    The APC chairman praised their courage and noted that their defection strengthened the party’s collective resolve to improve governance, security, and economic development in the state.

    NAN reports that the event was capped with a symbolic handing over of APC brooms to the defecting lawmakers, marking their official entry into the ruling party.

  • We reject Obasa as Speaker in totality – Lagos lawmakers

    We reject Obasa as Speaker in totality – Lagos lawmakers

    Thirty-six members of the Lagos State House of Assembly who are in support for the current speaker, Mojisola Meranda have rejected Mudashiru Obasa as the Speaker of the parliament.

    The lawmakers convened at the Assembly garden, maintaining their stance based on their February 17 vote of confidence in Meranda, despite Obasa’s return.

    Chairman of the House Committee on Information, Strategy, and Security, Stephen Ogundipe, condemned the ongoing situation and called for calm.

    He said: “This is Lagos, the State House of Assembly. We’re shocked to see what’s happening here today.

    “We expect our leaders, who earlier told us to remain calm, to come and address us and tell us where we went wrong or what really went wrong.

    “We won’t take laws into our hands, but we belong to different constituencies and we have our mandates.

    “Whatever is going to happen, the leadership should speak with us and not this charade we’re witnessing.

    “We are humiliated by this action. I was stopped at the gate from entering the assembly chamber. This is an embarrassment, and it must stop.

    “We are not against the leadership’s decisions, but they should call us and tell us instead of hearing rumours. They’re our leaders, we’ll still stand and obey their decisions.

    “We reject Obasa in totality,” he declared.

    The lawmakers also chorused, “We reject Obasa in totality.”

  • Navy, Lawmakers, CSOs reject Nigerian Coast Guard, urge Senate to kill Bill

    Navy, Lawmakers, CSOs reject Nigerian Coast Guard, urge Senate to kill Bill

    The Nigerian Navy, Members of the National Assembly and Coalition of Civil Society Groups, were amongst the opposition to the Bill for an Act to establish Nigerian Coast Guard.

    Recall that, the Senate Committee on Marine Transport, had slated November 7 for the public hearing on the Bill, but was shifted due to the demise of the Chief of Army Staff, General Taoreed Lagbaja.

    The bill sponsored by Senator Wasiu Eshilokun (APC- Lagos), has the overriding intent to enact legislation that sought make Nigerian Coast Guard a full fledged military service and a branch of the Armed Forces of Nigeria; to be domiciled under the Ministry of Marine and Blue Economy.

    At the public hearing held in National Assembly Library on Thursday, the Nigerian Navy seriously objected to the establishment of the Nigerian Coast Guard, citing duplicity of functions, security threats, incorerent crafting of the Bills, resource constraints, economic imperatives of nature, amongst others.

    The Chief of Training and Operations, Nigerian Navy, Rear Admiral Olusegun Ferreira, who represented the Chief of Naval Staff, took his time to analyze both Nigeria’s maritime security needs and global best practices, with huge global examples of consolidated maritime security frameworks.

    He said, “United Kingdom does not have a Coast Guard with military powers similar to those being proposed in this bill. Rather, the Royal Navy is responsible for military defense and maritime security operations, including facial protection, and this is quoted from the House of Commons briefing paper of 2020.

    “On the other hand, the UK Coast Guard, is under the Maritime and Coast Guard Agency, which manages search and rescue and Occupational Safety. In fact, the UK Coast Guard is also known as a volunteer. Coast Guard is not funded by the government but by charity. The UK example is a symbol, where resourceful Naval Force, with complementary civilian agencies work to manage maritime safety.

    “Then let’s look at the United States of America. The Coast Guard and the Navy. The US Coast Guard operates under the Department of Homeland Security, focusing on law Enforcement, Environmental Protection, search and rescue; while the US Navy under the Department of Defense is primarily an Expeditionary Force projecting power far beyond the shores.

    “South Africa has opted to enhance its network capacity instead of establishing the Coast Guard, recognizing budget constraints and prioritising the unified labour force for all maritime security and defence. South Africa Navy performs both military rules and law enforcement functions supported by government agencies and non military tasks like Environmental Protection and the likes. This approach is similar to what is done in Nigeria and several developing countries. It minimises redundancy and ensures that the country’s limited resources are well managed.

    “Given Nigeria’s more regional maritime focus and resource constraints, creating a similar structure will lead to redundant functions and stretch limited resources”.

    On his part, the Chairman, Senate Committee on Interior, Senator Adams Oshiomhole, said Nigeria is living on borrowed funds, saying it is improper to take loan and establish a new agency. Oshiomhole also queried the rational behind establishing a ministry service and domiciled it under a Ministry of Marine and Blue Economy, instead of Defence.

    “So why do we need an Armed Forces to be controlled by blue economy to become the responsibility of the Ministry of Defense?”, Oshiomhole asked rhetorically.

    Also speaking on a very strong opposition to the Bill, a Member representing Ado/Okpokwu/Ogbadibo Federal Constituency of Benue State, Rep. Philip Agbese, said what Nigeria needed was to strengthen the existing agencies and institutions to function to maximum, rather than creating irrelevant agencies, which duties are already being performed by others.

    Agbese who is the Deputy Spokesman of the House of Representatives, also expressed disappointment that, agencies under the Marine Ministry which objected to the establishment of Nigeria Marine Corps during a public hearing 2 weeks ago, could hypocritically come up to support the establishment of Nigeria Coast Guard, which shares similar objectives with the Marine Corps Bill.

    “I was at the House of Representatives Committee public hearing, Navy in particular, where the other committees
    were incorporated to dissect the issue of Marine Corps Bill. And I know the position of all the agencies in the Ministry of Marine and Blue Economy. They categorically submitted at the public hearing that there was no need for any further agency to support what the Navy is doing.

    “I can see the faces of many persons there that they are also here. So, whereas they told us a different thing in the House of Representatives that such an agency is not necessary, here today, they are here to support Bill, that it is now necessary. What’s the difference between 14 days ago and today that we suddenly need that?”, he said.

    Agbese referred to state security outfits created by some state Governors few years ago, including the Amotekun created in Osun state, where the Minister of Marine and Blue Economy, Gboyega Oyetola was Governor, with the mandate to ending insecurity, only for security challenges to keep increasing; adding that, creating Coast Guard would not in any way end insecurity in the waterways.

    Various Speakers, including, Dr. Emeka Akabogu, Honorary Secretary of Nigerian Maritime Law Association; Rear Admiral Chris Ezekobe (Rtd.); and Igwe Ude Umanta, who spoke on behalf of coalition of other 10 Civil Society Groups; all rejected the establishment of Nigeria Coast Guard, urging the Senate to drop the Bill.

  • Opposition lawmakers want PDP national leadership reconstituted

    Opposition lawmakers want PDP national leadership reconstituted

    The Coalition of Opposition Lawmakers in the House of Representatives has called for the reconstitution of the national leadership of the main opposition party, the People’s Democratic Party (PDP).

    The coalition made the call in a statement issued by its spokesman, Rep. Ikenga Ugochinyere (PDP-Imo) on Sunday in Abuja.

    The lawmaker alleged that some national leaders of the party were working with the ruling All Progressives Congress (APC) leaders.

    Ugochinyere said there was a plan to ensure that the National Executive Committee (NEC) meeting to choose a Chairman from North Central where the position was originally supposed to come from was not possible.

    The rep alleged that there were some impostors in PDP, adding that APC members would be laughing at the PDP now that they wanted to sabotage their party.

    He said that the reasons given since last year for not holding a NEC meeting to choose new leaders were no longer tenable.

    “Till now, no NEC meeting. They keep giving different excuses.

    “If the founding fathers of this party are still alive and are seeing what I am seeing they will be crying.

    “At a time when Nigeria is facing a serious crisis, the main opposition party is now in the bed with the ruling party,” he said.

    The lawmaker said that it was shameful that PDP was now in disarray.

    Ugochinyere said that the acting leadership of the party had forgotten the expectations of Nigerians for a vibrant opposition.

    The lawmaker, however, commended leaders in the party who had remained loyal and faithful to the principles of the party.

    The News Agency of Nigeria (NAN) reports that the PDP Governors Forum has given a three-month ultimatum for the NEC meeting to hold.

  • Rivers govt heads to Supreme Court, insists pro-Wike lawmakers no longer members of Rivers Assembly

    Rivers govt heads to Supreme Court, insists pro-Wike lawmakers no longer members of Rivers Assembly

    The government of Rivers State has said that a notice of stay of execution of the Appeal Court judgment has been filed against Martins Amaewhule and other pro-Wike lawmakers from parading themselves as members of the Rivers State House of Assembly.

    A statement by D.I. Iboroma, a Senior Advocate of Nigeria and Rivers State Attorney General & Commissioner for Justice, said Amaewhule and his colleagues remain former members of the Rivers State House of Assembly following their resignation from the Peoples Democratic Party (PDP).

    According to the Rivers State Attorney General, the matter before the Appeal Court was not the status of the lawmakers but whether the National Assembly by virtue of the crisis in the State Assembly then, could take over the Legislative functions of the Rivers State House of Assembly.

    The statement reads:
    “Today, the 10th day of October 2024, the Court of Appeal, Abuja Division dismissed Appeal No. CA/ABJ/133/CS/2024 filed by His Excellency, the Governor of Rivers State against the judgment of the Federal High Court, Abuja Division in suit No. FHC/ABJ/133/CS/2023 delivered on the 22nd day of January, 2024.

    “It is important to state the facts and history of the case and the appeal thereof.

    “On the 30th day of October, 2023, after the failed attempt to impeach His Excellency, the Governor of Rivers State, the Rivers State House of Assembly became polarized into two factions. The faction led by Martin Amaewhule proceeded to the Federal High Court, Abuja Division and filed Suit No. FHC/ABJ/1613/CS/2023, on the 29th day of November, 2023.

    “Subsequently, on the 11th day of December, 2023, Martin Amaewhule and others defected from the Peoples Democratic Party that sponsored their election in the 2023 Legislative Assembly Election, to the All Progressives Congress.

    “By operation of Law, particularly Section 109(i) (g) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), Martin Amaewhule and 26 others automatically lost their seats as members of the Rivers State House of Assembly on the 11th day of December, 2023, as Section 109(1)(g) is self executory as no court order is required thereof.

    “His Excellency, the Governor of Rivers State on the 13th day of December, 2023, presented the 2024 Appropriation Bill to the Rivers State House of Assembly, led by Rt. Hon. Edison Ehie, who was recognized as the Speaker of the Rivers State House of Assembly at the time. The Appropriation Bill was later passed into Law and became the Appropriation Law of 2024. An Appropriation Law is a state law within the purview of the High Court of Rivers State.

    “Following the crisis in the Rivers State House of Assembly and the intervention by the President of the Federal Republic of Nigeria, that the parties withdraw their cases in Court, to allow peace reign, His Excellency the Governor of Rivers State obeyed the President’s directive and withdrew his cases and the processes he filed in Suit No FHC/ABJ/1613/CS/2023. Martin Amaewhule and others disobeyed the President and did not withdraw Suit No. FHC/ABJ/1613/CS/2023 and proceeded to obtain judgment against His Excellency, the Governor of Rivers State.

    “After the judgment of the Court of Appeal today, there is a gale of misrepresentation and misinterpretation that Martin Amaewhule & 26 others remain members of the Rivers State House of Assembly with Martin Amaewhule as the speaker thereof. This is patently false. The defection of Martin Amaewhule and 26 others was not an issue for determination in the Federal High Court, Abuja and the Court of Appeal. What was in issue was the 2023 Appropriation Law and the National Assembly taking over the Legislative functions of the Rivers State House of Assembly.

    “Dissatisfied with the judgment of the Court of Appeal, Abuja Division, His Excellency, the Governor has directed his lawyers to file an appeal against the judgment of the Court of Appeal to the Supreme Court and also file an application for stay of execution of the judgment of the Court of Appeal. That maintains the status quo.

    “Accordingly, His Excellency, the Governor of Rivers State urges the good people of Rivers State to ignore the purveyors of fake news bent on misleading the good people of Rivers State.”

  • Rivers: Court dismisses suit seeking to replace 27 pro-Wike lawmakers

    Rivers: Court dismisses suit seeking to replace 27 pro-Wike lawmakers

    A Federal High Court in Abuja on Friday, dismissed a suit seeking an order declaring the seats of the the 27 members of the Rivers House of Assembly loyal to the Minister of the Federal Capital Territory (FCT), Nyesom Wike, vacant.

    Justice Peter Lifu, in a judgment, held that the suit instituted by the Action People’s Party (APP) was statute barred, having not been filed within 14 days allowed by law.

    NAN reports that the 27 lawmakers, led by Martin Amaewhule, were said to have defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) on Dec. 11, 2023.

    However, the Action People’s Party (APP) filed the case on July 12, a period of 8 months after the cause of action emanated.

    Delivering the judgment, Justice Lifu held that the case was a gross abuse of court process on the ground that several suits on the alleged defection of the same 27 lawmakers had been adjudicated upon by the Federal Hgh Court (FHC).

    The judge, who cited the previous judgments of the FHC delivered by Justice James Omotosho, said that the request for replacement of the lawmakers had earlier been rejected due to lack of sufficient evidence to establish the defection of the legislators.

    He recalled that in the earlier judgment, Justice Omotosho restrained the Independent National Electoral Commission (INEC) from declaring the seats of the lawmakers vacant and from conducting any fresh election.

    Justice Lifu said that since the judgment had not been set aside and not appealed against, it remained binding with force of law as far as the issue of defection is concerned for the 27 legislators.

    He said that it would amount to display of judicial rascality for him to sit as an Appeal Court in the judgment of the same court.

    The judge subsequently dismissed the suit.

  • Why most Nigerian leaders should be behind bars– Obasanjo

    Why most Nigerian leaders should be behind bars– Obasanjo

    Former President of Nigeria, Olusegun Obasanjo has said majority of leaders in the country should be behind bars or gallows instead of public offices.

    Obasanjo, who spoke while addressing six lawmakers from the House of Representatives on Friday maintained that in choosing good leaders, characters must be considered and questioned.

    The former president asserted that until leaders changed their mentality, the country would never see the change it desired.

    “Our main problem is ourselves and until we take care of ourselves, we may have one term of four years, one term of six years, one term of seven years, if it’s the same people and same mentality and way we do things, then it won’t change.

    “Yes system, yes democracy, we have to rethink democracy, we have to rethink the form of government, but what is the character of the people in government?

    “With all due respect, most of them should be behind bars, some should even be in the gallows and that is the truth.

    “Now if these are the people that are ruling us, then what do you expect? So, the point is the character of the people that are coming to the government. Their attributes, the sort of people they truly are.

    “We need to really think about how we select leaders, what should be the character of a leader we select? What should be their track record?

    “Where should we find them? Are they role models? And I think those are the first things we have to think about,” he stated.

    The lawmakers’ included Abdulmalik Danga from Kogi, Dr Usman Midala from Borno, Matthew Nwogu from Imo, Peter Aniekwe from Anambra, Kama Nkemkanma from Ebonyi and Ugochinyere Ikenga from Imo.

     

     

  • Fresh Trouble looms as Pro-Wike lawmakers give Fubara 7 days to re-present budget

    Fresh Trouble looms as Pro-Wike lawmakers give Fubara 7 days to re-present budget

    The Rivers State House of Assembly faction,  loyal to former governor, Nyesom Wike, has given Gov. Siminalayi Fubara a seven-day ultimatum to re-present the 2024 budget of the state.

    The Speaker of the faction, Martins Amaewhule, gave the ultimatum during a sitting of the members in Port Harcourt on Monday.

    Fubara had presented the 2024 budget when his current Chief of Staff, Edison Ehie emerged as the speaker.

    Fubara had also signed the budget into law after its passage by the then Ehie-led assembly.

    Meanwhile, the Amaewhule-led faction  only resumed sitting on Monday after several months of legislative inactivity.

    A Rivers State High Court had held that Amaewhule and 24 other pro-Wike lawmakers had lost their seats after decamping from the Peoples Democratic party to the All Progressives Congress.

    In its judgment last week, the Court of Appeal overturned the lower court’s decision and declared Amaewhule as the authentic speaker of the house.

    The appeal court held that the Rivers State High Court had no jurisdiction to hear matters relating to the decampment of lawmakers.