EXCESS CRUDE ACCOUNT:
HOUSE OF ASSEMBLY APPROVES 13% DERIVATION REFUND DUE TO IMO GOVT
•CUTS FROM #10.9BN TO #8.9BN
A motion authorizing the State Government to discount the 13% derivation fund refund accruable to Imo State, from the Excess Crude Account, ECA, by Fidelity Bank PLC, has recieved the nod of the State Lawmakers.
The motion okays that the tone of Ten Billion, Ninety Three Million, One Hundred and Sixty Four Thousand, One Hundred naira, Forty Five kobo (#10,093,164,100.45), be remited to a present value of Eight Billion, Nine Hundred Million naira (#8,900,000,000) only.
The Speaker read out the announcement during the Tuesday’s plenary session.
It reads, “Whereas between 2004-2019, the Federal Account Allocation Committee (FAAC) made several withdrawals from the Excess Crude Account (ECA) belonging to the Oil Producing States;
“Noting that in the July 2020 FAAC meeting, the Post Mortem Sub-Committee of FAAC presented a report to FAAC which was adopted for the refund of a total of #861,135,887,749.10 ($2,272,126,352.90) from the Excess Crude Account (E. C. A) to the States of which Imo State portion amounted to #10,093,164,100.45”.
It continued, “Aware that the Hon. Minister of Finance, Budget and National Planning subsequently approved the refund to be paid in quarterly basis beginning from January, 2021;
“Observing that after the approval, the Hon. Minister for Finance, Budget and National planning and FAAC, the Federal Government was unable to pay the amount in one swoop, and rather opted to retire the amount on a quarterly basis over a period of twelve (12) quarters or 3 years but giving the States options to get it discounted by any bank of their choice and Imo State Government decided to approach some Banks out of which Fidelity Bank gave the best discount rate”.
However, the House of Assembly resolved as follows;
“To grant approval to the State Government to obtain a facility from Fidelity Bank Plc for the purpose of discounting the 13% Derivation Refund Fund due to Imo State from the Excess Crude Account (ECA) from #10,093,164,100.45 only to a present value of #8,900,000,000 only;
The House further resolved that; The interest rate for the facility shall be 7% per annum payable in 12(twelve) quarterly installments over a period of 36 (thirty-six) months; The soure of repayment shall be the 13% Derivation Refund from the Excess Crude Account (E. C. A); and, The Commissioner for finance, Imo State and the Accountant General of Imo State should accept the Discount Facility on behalf of the State and sign all documents relating thereto.
IS SPEAKER EMEZIEM AFRAID OF PRESS INTERVIEW?
One question begging for an answer is whether the Speaker of Imo State House of Assembly, Rt. Hon. Paul Emeziem is afraid of the media or not.
Speaker Emeziem took over from his predecessor, Rt. Hon. Chiji Collins, as the number three citizen of the State, lately last year, 2020, following Chiji’s impeachment by the Lawmakers.
One of the problems the then Speaker failed to attack was his relationship with the media, especially Journalists assigned to the State Assembly Complex.
Due to the nature of the office of the Speaker, as the number one lawmaker in the House, it is assumed that he owes the Assembly Correspondents the possible shortest period of time or minutes for interviews, especially when State sensitive matters that needs clarity are deliberated on the floor of the House.
Reason for the outside chamber press interview is to avoid being misquoted in the media when there is no official press release to that effect.
Succinctly put, Rt. Hon. Emeziem seem to be media shy, following recent approach to the media.
Trumpeta Assembly Vibes authoritatively reports that the Speaker on different occasions have avoided having an interactive session with the Correspondents who approached him to clear some motions considered to be ambiguous.
Instead of squeezing out some of his minutes to address the pressing issue bordering on the recent approval made for the State Government, the Speaker discharged Pressmen who besieged him for clarity.
Reason for such quick discharge may not be far fetched, as he re-echoed his commitment towards the ongoing revalidation exercise.
The manner he turned down the media invitation didn’t go down well with the Correspondents, as they had the notion that Emeziem may not be comfortable with the presence of the fourth estate of the realm.
HOW APC MEMBERSHIP REGISTRATION/REVALIDATION EXERCISE FORCES IMHA TO ADJOURN PLENARY
The Nationwide registration and revalidation exercise of the members of the ruling All Progressives Congress, APC, has affected the Legislative activities of members of the Imo State House of Assembly, as they adjourned plenary to enable Members of the APC participate fully in the ongoing exercise.
President Muhammadu Buhari last two week kicked off the commencement of the registration of intending members into the APC party, as well as revalidation of old card carrying party faithful.
That exercise, cannot be complete, without involving Imo State, with majority of the State Lawmakers being part of the program.
While in Imo State, Governor Hope Uzodinma flagged it off, thereby expecting respective LGAs in the State to follow suit.
On that light, Members of the 9th House Imo Assembly are said to be taking active roles, thereby necessitating the definite adjournment of plenary to Wednesday next week.
Even with the line-up activities contained in the Order Paper, which Trumpeta Assembly Vibes observed have been spilling over since December 2020, the Rt. Hon. Paul Emeziem led House postponed sitting.
At the end of the short-lasted Legislative business on Tuesday, the Speaker announced that for the want of full participation in the ongoing registration, the House had to adjourn to enable the Lawmakers take part in it.
However, this led to a distasteful comments from people at the gallery, who were fully seated awaiting for the House to tackle some striking State issues begging for proper legislation.
The worrying aspect was the continued delay in setting items slated for legislative input, since November and December last year.
IMO COMMUNITY PETITIONS IMHA OVER EEDC EXTORTION
Ugbelle Community in Mgbidi, Oru West Local Government Area, Imo State, has petitioned the Enugu Electricity Distribution Company, EEDC, over series of alleged extortion from the residents of the area.
They petition was irked by the prolonged blackout, as a result of non supply of electricity to the Community after some levies and dues were remitted to the electricity supply company.
This was made known through a high- powered letter written to the Imo State House of Assembly, and submitted on the floor of the House by the Member representing Oru West in IMHA, Hon. Barr. Dominic Ezerioha, on Tuesday.
It was gathered that part of the headline addressing the petition clearly marked ‘Extortion by EEDC’.
It would be recalled that both the 8th House and 9th House of Imo Assembly had lived to witness plethora of petitions against the electricity distributors (EEDC), by different Lawmakers.
In many occasions, they were summoned at the Executive session of the House to interface with the State Legislators, on reasons bordering on lapses in power supply, and or total power outage.
As if that was not enough, hence, the recent petition by Ugbelle Mgbidi Community seeking for Justice.
The Speaker, Rt Hon. Paul Emeziem, who received the petition referred it to the House Committee on Public Utilities, and are to report back to the House on the 17th February, 2021.
DEPUTY SPEAKER CONDOLES WITH FAMILY OF ONUOHA
Deputy Speaker, Imo State House of Assembly, Rt. Hon. Amara Chyna Iwuanyanwu has condoled with the family of constituent who lost their patriarch to the cold hands of death.
The Deputy Speaker after the sitting of Tuesday payed a condolence visit to the family of one of his Nwangele Constituents.
Rt. Hon Iwuanyanwu, accompanied by some Leaders visited the Onuoha family, of Umunakara village, in Nwangele LGA, over the demise of their patriarch, the late Rev. Lawrence Onuoha, who slept in the Lord last Friday, after a brief illness.
Iwuanyanwu, alongside his entourage were received by the deceased son, High Chief Michael Onuoha, popularly known as Eririego of Igboland, Lord.
The State Lawmaker in his commiseration message asserts that Nwangele LGA has lost an icon, a community Leader and an upright man who dedicated his life in the service of God and humanity.
“Pa Lawrence Onuoha’s death is a great loss to his family and immediate community as his sterling leadership qualities, exemplary life style and wise counsels will be greatly missed”, Iwuanyanwu said.
Responding, Chief Michael Onuoha thanked them for identifying with his family at this trying time of grief.
