Why I turned down N250m for third term agenda — Wabara
Photo credit: Vanguard News
Former Senate President Adolphus Wabara has revealed that he rejected the sum of N250 million to support the third-term agenda during former President Olusegun Obasanjo’s administration.
In an excerpt from the YouTube interview series “Untold Stories with Adesuwa,” released on Monday, when asked about the truthfulness of this assertion, he said, “That’s very correct.
”The third-term agenda marked a pivotal moment in Nigeria’s 25-year uninterrupted democratic history, involving a constitutional amendment bill aimed at allowing then-President Olusegun Obasanjo to run for a third term in office.
Speaking further, Wabara revealed that while he didn’t believe the stories that some senators received N50 million at the time, he received N250 million bribe, which was brought to him in a G-Wagon at 1:20 a.m.
Wabara also stated that his educational background played a huge role in rejecting the third-term agenda.
“I turned down a N250 million bribe to support the third term agenda. The money came to me by 1:30 a.m., before my third-term speech. It came in a sparkling black G-Wagon. I can still remember that it was in a black G-Wagon and a rickety 504 station wagon. The money was discharged, and my wife was there.”
Tinubu approves new withholding tax policy
Photo credit: The Nation
President Bola Tinubu has approved a new withholding tax policy, replacing the old policy established in 1977.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele announced this on Tuesday.
The new withholding tax policy introduces significant reforms designed to alleviate the heavy burden that the previous system imposed on farmers and Small and Medium Enterprises (SMEs). According to Oyedele, the updated regime addresses several long-standing challenges and introduces specific provisions, including: Small businesses will now be exempt from withholding tax compliance, reducing their administrative and financial burdens; businesses with low profit margins will benefit from reduced withholding tax rates, easing their cash flow and operational costs and producers, particularly farmers, will receive exemptions, fostering growth and sustainability in these critical sectors.
Others are the new measures aim to enhance compliance and reduce opportunities for tax evasion and avoidance.
The policy streamlines the process of obtaining credit and utilizing tax deducted at source, making it more accessible for businesses. Updates to the new withholding tax regime will reflect emerging issues and align with global best practices, ensuring Nigeria’s tax system is contemporary and effective, and the new policy will provide clear guidelines on the timing of deductions and definitions of key terms, eliminating ambiguities.
Trump has immunity for actions as president, US supreme court rules
Photo credit: The Cable
The United States supreme court has ruled that former President Donald Trump has immunity for official actions taken while in office.
In a 6-3 ruling delivered on Monday, the majority decision dismissed the verdict of the lower court on the criminal charges filed against Trump over his conduct after the 2020 elections.
The six justices ruled that former US presidents have immunity against actions taken while in office but not unofficial actions.
Reuters reports that the court analysed Trump’s indictment into four categories: discussions with justice department officials after the 2020 election; alleged pressure on then Vice-President Mike Pence to block certification of Biden’s election win; alleged role in assembling fake pro-Trump electors; and conduct about an attack on the US Capitol.
Obajana-Benin road: FG terminates contracts with construction firms over ‘non-performance’
Photo credit: The Cable
The federal government has terminated its contracts with Mothercat, Reynolds Construction Company Ltd (RCC) and Dantata & Sawoe for non-performance on the dualisation of the Obajana-Benin road project sections two, three and four.
In a statement on Monday, David Umahi, minister of works, said the construction companies have failed to meet their contractual obligations as required by the standard conditions of the contracts.
“The Federal Ministry of Works has terminated contract numbers 6136, 6137, and 6138 with Mothercat Ltd., Dantata & Sawoe Construction Ltd., and RCC Ltd., respectively,” the statement reads.
“The projects affected by this termination are the dualisation of Obajana-Benin Road and Section II (Okene-Ali) in Kogi/Edo.