NDC STATEMENT ON COURT RULING. (PHOTO). #PRESS RELEASE.

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 NDC STATEMENT ON COURT RULING Our attention has been drawn to a ruling by the Federal High Court sitting in Lokoja this morning, wherein His Lordship, Honourable Justice Isah Dashen, gave a ruling on an application filed by an unregistered association known as Peace Movement Party. The public knows that by December 2025, the Nigeria Democratic Congress  as an association complained of INEC’s refusal to register us as a political party, whereupon we proceeded to the Federal High Court. The Federal High Court upheld our constitutional right to freedom of association under the Constitution and compelled INEC to register us, which INEC did. Since then, we have started political activities, embarked on the registration of members, held congresses from ward to national levels, held conventions, and concluded primaries to all offices following INEC’s timetable. We have been fully participating in all INEC activities without let or hindrance. NDC also fielded candidates, and fully pa...
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REPS APPROVE FINANCE MINISTRY AMENDMENT BILL FOR SECOND READING. (PHOTO).

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 Reps Approve Finance Ministry Amendment Bill for Second Reading


The House of Representatives on Tuesday passed for a second reading a Bill aimed at repealing the Ministry of Finance Incorporated Act of 1959 and replacing it with the Ministry of Finance Act of 2024.


Leading the debate on the Bill's general principles, Ademorin Kuye explained that the Ministry of Finance Incorporated (MoFI) was established in 1959 by an Act of Parliament to act as the sole custodian of Federal Government assets across the country. However, Kuye pointed out that since its inception, MoFI has failed to function effectively due to issues such as asset mismanagement, diversion, and abuse.


Kuye emphasized that the 1959 Act, which consists of only six sections, is outdated and lacks the framework necessary for MoFI to operate efficiently in modern Nigeria. He highlighted that the proposed new Act would introduce a comprehensive framework with 49 sections, addressing the conduct, management, and custodianship of Federal Government assets.


He further explained that, if enacted, the Bill would revitalize MoFI by establishing a robust institutional framework, improving its corporate governance, and outlining its organizational structure. The Bill aims to ensure better ownership, accountability, and management of federal assets, as well as to empower the corporation to contribute to economic growth through efficient asset management, preventing abandonment and misappropriation.


Kuye also noted that the Bill would provide a strong legal foundation for creating a national corporation capable of managing and optimizing over N300 trillion worth of federal assets. This would be achieved by granting MoFI specific powers and ensuring that its board is properly incentivized.

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