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Tinubu Overhauls Financial System: Ends Buhari’s Single Treasury Account, Issues New Directives

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 ....KINDLY READ THE FULL STORY HERE▶

This measure aims to consolidate federal revenue earnings and represents a departure from the single treasury account system employed during the administration of Muhammadu Buhari…CONTINUE READING

 

 

Detailed in a circular from the Finance Ministry on December 28 and announced on Tuesday, these directives align with President Tinubu’s broader strategy to enhance revenue generation, fiscal discipline, and transparency, as well as prevent resource waste.

The directives state, “All Ministries, Departments, and Agencies (MDAs) fully funded through the annual federal government budget, as well as those on the schedule of the Fiscal Responsibility Act, 2007, and any additions by the Federal Ministry of Finance, should remit one hundred per cent of their Internally Generated Revenue (IGR) to the Sub-Recurrent Account within the Consolidated Revenue Fund (CRF).”

Furthermore, agencies and departments partially funded by the federal government, receiving budgetary allocations for capital or overhead expenditures, are expected to remit 50 per cent of their gross revenue. Statutory revenue, such as “tender fees, contractor’s registration, sales of government assets, etc.,” should be remitted in full to the sub-recurrent account.

To implement this policy, the Office of the Accountant-General of the Federation will establish new Treasury Single Account (TSA) Sub-Accounts for all Federal Government Agencies/Parastatals listed in the schedule of the Fiscal Responsibility Act, 2007, and any additional entities specified by the Federal Ministry of Finance, except where expressly exempted.

These new accounts will be credited with inflows from the old revenue-collecting accounts, applying the new policy’s 50 per cent auto deduction, in line with the Finance Act, 2020, and Finance Circular, 2021, which stipulates a 50 per cent cost-to-revenue ratio.

Subject to agency categorization, the Office of the Accountant-General of the Federation will map and automatically apply a direct deduction of 50 per cent on the gross revenue of self/partially funded agencies.

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‘No Captain Walks Alone’ – Ronaldo Sends Emotional Message In Retirement Farewell.

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Cristiano Ronaldo has described representing Portugal as one of the greatest privileges of his football career, insisting that he gave everything to the national team throughout his 23 years of service.....KINDLY READ THE FULL STORY HERE▶

The 41-year-old made this known in an emotional farewell message following his decision to retire from international football, bringing to a close a journey that began in August 2003.

Ronaldo admitted that surrendering the national team shirt and captain’s armband was not an easy decision because of the deep emotional bond he had developed with Portugal and its supporters.

Reflecting on his time with the national team, the Al-Nassr forward said his memories went beyond goals, records and trophies. He explained that the most meaningful part of the experience was the connection he shared with millions of Portuguese people.

He recalled how his performances had given supporters reasons to celebrate, forget their worries and take pride in their country.

The former Real Madrid and Manchester United forward also acknowledged that his international career had included painful defeats and difficult moments when he could not meet the expectations of Portuguese fans.

Despite those disappointments, he maintained that he never stopped fighting or feeling proud to represent his country.

Ronaldo expressed gratitude to his former teammates, coaches, medical personnel, football administrators and other staff members who supported him throughout his time with Portugal.

He also gave special recognition to his family for standing by him and making sacrifices during his years of international service.

The football icon urged younger Portuguese players to continue dreaming, work hard and believe they could achieve even greater things for their country.

According to him, records may eventually be broken and trophies may end up in museums, but the memories and emotional bond created with supporters will endure.

He concluded by recalling the special feeling of standing alongside his teammates as the Portuguese national anthem played, describing it as a moment when people from different backgrounds united through one shared passion: Portugal.

Ronaldo’s farewell message reads:

“To the Portuguese people,

“The day has come to hand back the shirt and the captain’s armband of the national team that belongs to all of us. I never felt that it was exclusively mine, but for 23 years, I had the privilege and responsibility of wearing it, defending it, and carrying it with me to stadiums all around the world.

“Today, the moment has come to pass it on to the future. It was not an easy decision, because some decisions are not made with the head alone. They are also made with the heart.

“I am bringing to an end a journey that began in August 2003 and changed my life forever. When I look back and think about everything I experienced with the national team, I don’t just see matches, goals, records, or trophies. I see people.

“I see immigrants who, for 90 minutes, felt a little closer to Portugal. I see millions of Portuguese people whom I never met personally, but who became part of my life. Because, at the end of the day, football is much bigger than a game. Football is about people.

“Throughout my entire career with the national team, I always tried to push beyond my limits. I wanted to win, I wanted to be the best, I wanted to make history.

“I was always demanding of myself. I always wanted more. I always believed we could go further, and I gave everything I had for this shirt. There were perfect afternoons and nights. There were victories I will never forget. There were defeats that still hurt to remember today.

“I also failed. I also suffered. There were moments when I couldn’t give the Portuguese people what they wanted so badly. But I never gave up. And above all, I never stopped feeling proud to represent Portugal.

“Over these years, I learned some very simple things: goals come and go, trophies end up in museums, records are eventually broken, but there is something that time can never erase.

“The place I hold in people’s hearts. If I ever made you happy, if one of my goals ever made you hug someone, forget a worry, or feel proud of our country, then it was all worth it. Because being Portuguese is also about that.

“We suffer together. We get back up together. We believe again.

“Portugal will always need young people who dream, players who never give up, and new generations who believe it is possible to reach places no one has reached before.

‘You Are All Part Of My Story’

“Because a country that continues to create new heroes is a country that never stops believing in itself.

“To my national team teammates, I want to leave a special message.

“Thank you for every run, every hug, every argument, every moment of silence before stepping onto the pitch, every victory we celebrated together, and every defeat that made us stronger. I had the privilege of being your captain, but no captain walks alone, and you are all part of my story.

“To all the coaches, directors, doctors, physiotherapists, kit managers, staff members, and the many people who worked with me throughout these years, thank you.

“Many of you never appeared in the photographs, but without you, none of those photographs would have been possible.

“To my family, thank you for sharing this dream with me.

“Thank you for understanding the absences, the sacrifices, and the moments when the national team had to take up a space that also belonged to you. If I made it this far, it was because we always walked hand in hand.

“And to the Portuguese people, to every Portuguese person around the world, I want to tell you one last thing.

“There is an image that I will always carry with me. A moment when the national anthem begins. I look around me. I see my teammates. I see the stands.

“I see children, mothers, fathers, and grandparents. I see Portuguese people who travelled from so far away just to be there.

“And during those moments, we stop being different. There are no clubs. There are no colors. There are no classes. There are no professions. There are no opinions. There is only one passion: Portugal.”

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Fresh Blow For Atiku As Court Voids ADC Leadership, Keyamo Reacts With Celebration.

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The Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), has welcomed the Federal High Court judgment that removed the David Mark-led caretaker committee of the African Democratic Congress (ADC) and nullified its actions, including the nomination of Atiku Abubakar as the party’s presidential candidate.....KINDLY READ THE FULL STORY HERE▶

Reacting to the ruling, Keyamo declared: “Justice may be slow, but it is always sure!”

In his Thursday judgment, Justice Peter Lifu ruled that the caretaker committee was illegal and invalidated all decisions taken under its authority.

The suit, marked FHC/ABJ/CS/1819/2025, was instituted by Nafiu Bala Gombe, a former ADC National Deputy Chairman (North-East), who argued that he was entitled to lead the party following the resignation of its National Chairman, Ralph Nwosu.

Gombe also asked the court to stop Mark and former Osun State Governor, Rauf Aregbesola, from presenting themselves as the party’s National Chairman and National Secretary. He argued that their emergence violated the ADC constitution and the Electoral Act.

The ADC, Independent National Electoral Commission (INEC), Mark, Aregbesola and Nwosu were listed as defendants in the suit. The court granted all the reliefs requested by the plaintiff.

Keyamo maintained that the coalition group that took control of the ADC had acted without the approval of the party’s authorised organs.

“You cannot invade a political party owned and built by Nigerians and hijack it with the connivance of a so-called National Chairman without a prior meeting and approval of a mini National Convention or the National Executive Committee,” he stated.

The minister also accused the Mark-led group of attempting to blame the All Progressives Congress (APC) for its predicament, insisting that the court reached its decision based on the merits of the case.

“Sorry, but the law is decided on facts and evidence, rather than sentiments and outrage by a group of people,” he said.

Keyamo further dismissed suggestions that the judgment threatened democracy, describing the Mark-led leadership as an “illegal band of marauders” and insisting that the ADC belonged to its original members.

The ruling came a day after Atiku launched his campaign in Sokoto ahead of the January 16, 2027, presidential election.

INEC had previously listed Atiku as the ADC’s presidential candidate, with former Rivers State Governor Rotimi Amaechi named as his running mate.

However, the ADC has vowed to challenge the judgment at the Court of Appeal. The party’s National Welfare Secretary, Nkemakolam Ukandu, who was joined in the case as an interested party, confirmed that the party would appeal the decision.

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‘Atiku And Others Had Their Chances But Failed Nigerians’ – Wike Fires Fresh Attack.

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has declared that the presidential candidates of the African Democratic Congress (ADC), Atiku Abubakar, and the Nigeria Democratic Congress (NDC), Peter Obi, have nothing to offer Nigerians.....KINDLY READ THE FULL STORY HERE▶

Wike made the remarks during his monthly media chat with selected journalists in Abuja, where he questioned the records of Atiku and other political figures who had previously held positions of power.

He maintained that Nigerians were aware that Atiku had failed to make meaningful contributions when he was given the opportunity to serve.

The minister also questioned who could stand against President Bola Tinubu’s political influence if the 2027 presidential election proceeds to a runoff.

Wike said: “I’m a political scientist and have been in politics more than a decade. Assuming there is a presidential runoff, it will be between Tinubu and who?

“Nigerians know that Atiku and co have been given the opportunity and they did not do anything, Nigerians know that the former governor of Rivers State looted our state, Nigerians know that Obi has nothing to offer, you were there when Soludo opened a can of worms.

“You talk about Kwankwaso my friend, I agree that he is very popular, he ran in 2023, won Kano and the rest Northern states, who were they voting?”

Meanwhile, Wike has dismissed claims that Rivers State Governor Siminalayi Fubara’s political future has been jeopardised by his prolonged political dispute with the FCT minister.

He argued that Fubara is still young and that it would be wrong to conclude that his political prospects have been ruined.

Wike made the clarification on Thursday in Abuja during his monthly media chat with selected journalists.

The minister also disclosed that Fubara is an active member of the Rainbow Coalition, a multi-party political group supporting President Bola Tinubu’s re-election bid.

According to Wike, the Rivers governor played a role in unveiling the coalition’s candidates in the state.

He said: “Governor Fubara is a young man. It will be incorrect to say that his political future is gone.

“Fubara is an active member of the Rainbow Coalition; in fact, he was the one who unveiled the Rainbow Coalition candidates in Rivers State.”

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