The National Assembly yesterday lamented the poor remittances of revenues generated in 2024 by ministries, departments and agencies of the federal government (MDAs) and some government-owned enterprises (GOEs) to the Federation Account.

The Chairman, Joint Senate and House of Representatives Committees on Finance, Senator Sani Musa, expressed the concern at an interactive session on the MDAs’ revenue projections for 2025.

The federal agencies and ministries whose accounting officers and Chief executive officers attended the meeting were the Nigeria Customs Service (NCS), Federal Road Safety Commission (FRSC) and Joint Admissions and Matriculation Board (JAMB).

They also included the Nigeria Immigration Service (NIS), Nigeria Communications Commission (NCC), and the Fiscal Responsibility Commission (FRC).

Sani said the National Assembly was not satisfied with the widening disparity between the substantial revenue accruals to the MDAs and their consistently low remittances to the federation account.

He added, “This trend undermines the government’s capacity to fund critical infrastructure and social services, calling to question issues of inefficiency, mismanagement and possible revenue leakages.”

The Committee Chairman explained that his committee’s mandate was to ensure transparency, accountability and efficiency in the financial operations of the agencies.

He said the committee would continue to scrutinise MDAs’ revenue projections, performance and adherence to statutory remittance obligations.

This, he said, was to identify systematic doubts and recommend actionable results to reverse the troubling patterns.

Musa sought the cooperation and understanding of all stakeholders at the interactive session.

He said it was imperative that accurate data, comprehensive records and open data were presented for the benefit of Nigerians.

He added, “Let us approach these tasks with a shared commitment to building a stronger, more accountable fiscal framework for Nigeria.

“I call on all of us to please be very open on all those areas that we know, even if they are not presented to us.”

He therefore directed all heads of Ministries, Departments, and Agencies (MDAs) to appear in person for the defense of their 2025 budget proposals, instead of merely submitting documents.

Ecobank Nigeria has unveiled a new art installation, ‘Kong in a Cage,’ by artist, Toyeeb Ajayi.

According to a statement from the bank on Tuesday, the installation, made entirely from recycled materials, is now on display at the Ecobank Pan African Centre in Lagos.

Ecobank has been fostering sustainability in the country through some of its initiatives like the ‘Get Cash for Plastic Bottles’ campaign, which removed over four million plastic bottles from the streets and drains of Lagos. The bank is also actively involved in tree-planting efforts aimed at preserving and protecting the environment.

Commenting on the sustainable art installation, Managing Director/Regional Executive of Ecobank Nigeria,
Bolaji Lawal emphasised that the installation is part of the bank’s ongoing commitment to sustainability, environmental protection, and the promotion of Nigeria’s creative industries.

He added that the bank remains dedicated to offering a global platform for emerging Nigerian artists, especially in the fields of sustainability and the arts.

Lawal also pointed out that ‘Kong in a Cage’ aligns with Ecobank’s broader mission to promote the creative sector across Africa.

“Our aim is to highlight the incredible talent of Nigerian artists, providing them with opportunities to showcase their work both locally and internationally.

“The creative sector is an essential driver of economic growth, well-being, and global interconnectedness. At Ecobank, we are committed to investing in the future of our youth, helping to shape a brighter future for Nigeria,” he said.

The artist, Toyeeb Ajayi, revealed that ‘Kong in a Cage’ is a commentary on environmental sustainability, with the installation’s use of recycled materials reflecting this theme.

“By employing sustainable materials and practices, this installation does more than just entertain—it prompts a conversation about the intersection of art and environmental stewardship.

“’Kong in a Cage’ is not just an artwork; it’s a dialogue—a visual plea for accountability, responsibility, and a renewed respect for the fragile balance between humanity and nature.

“I encourage everyone to reflect on humanity’s impact on the environment, consider the potential of reclaimed materials, and rethink our relationship with the planet”, Ajayi said.

The work of art will be open to the public on Saturdays and Sundays.

Five officials of the Katsina State Board of Internal Revenue have been detained by the Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) over the alleged misappropriation of N1,294,337,676.53.

According to the EFCC, the suspects — Rabiu Abdullahi, Sanusi Mohammed Yaro, Ibrahim M. Kofar Soro, Ibrahim Aliyu, and Nura Lawal Kofar Sauri — were arrested after a petition from the Katsina State government.

The petition alleged collusion to divert funds from the World Health Organisation (WHO), Médecins Sans Frontières, and Alliance for International Medical Action (ALIMA).

The EFCC spokesperson, Dele Oyewale, confirming the arrests on Monday in Abuja, said, “The suspects are currently being detained at the Kano Zonal Command of the EFCC and will be charged to court upon the conclusion of investigations.”

Preliminary investigations revealed that Rabiu Abdullahi, a former Director of Collections and current Permanent Secretary of the Board, authorised the opening of a Sterling Bank account named “BOIRS.”

The account, with sole signatories Sanusi Mohammed Yaro and Ibrahim M. Kofar Soro, reportedly became the channel for the funds.

The funds were allegedly funnelled to NADIKKO General Suppliers, a company owned by Nura Lawal Kofar Sauri, an Assistant Director of Career Skills/Staff Welfare at the Board.

Further investigations revealed that the company and its owner were the primary conduits for laundering the stolen money, which was traced to multiple bank accounts linked to the suspects.