metro
Reps threaten CBN governor with arrest over N5.2tn unremitted funds
Reps threaten CBN governor with arrest over N5.2tn unremitted funds
The House of Representatives Joint Committees on Public Accounts and Public Assets have threatened to issue an arrest warrant for the Governor of the Central Bank of Nigeria (CBN), Olayemi Michael Cardoso.
The move follows his continued failure to appear before the National Assembly and comply with resolutions concerning the Fiscal Responsibility Act 2007 and the Finance Act 2020.
In a joint statement issued on Friday, the chairmen of the committees—Hon. Bamidele Salam (Public Accounts) and Hon. Ademorin Kuye (Public Assets)—accused the apex bank chief of repeated disregard for legislative summons and resolutions. The duo said the committee was left with no choice but to consider exercising its constitutional powers to compel his appearance.
The committees referenced a report by the Auditor-General for the Federation, which identified a backlog of ₦5.2 trillion in unpaid operating surplus owed by the CBN to the Federal Government between 2016 and 2022. The findings were corroborated by the Fiscal Responsibility Commission, which submitted a similar position to the National Assembly.Lawmakers further invoked provisions of the Finance Act 2020, which mandate that unclaimed dividends and dormant bank account balances—older than six years—be transferred to an Unclaimed Funds Trust Fund. The Fund is to be managed by a governing council headed by the Minister of Finance and the Debt Management Office.
READ ALSO:
- FG dismisses report on age requirement for JSS1, varsity admission
- Director stabbed while going to mosque in Abuja
- FG moves to evacuate Nigerians stranded in CAR
It is understood that despite the legal opinion of the Attorney-General of the Federation, which confirmed the Finance Act 2020 as the governing legislation on the matter, the CBN has continued to assert that the Financial Institutions Act 2020 grants it authority over dormant accounts—a stance the committee rejected as baseless.
Following multiple engagements with stakeholders, the joint committee on June 27, 2025, directed the CBN to remit ₦3.64 trillion—representing 70% of the undisputed operating surplus—to the Federal Government within 14 days. The bank was also instructed to disclose the total value of unclaimed dividends and dormant accounts by June 30, 2025, and transfer qualifying funds to the designated Trust Fund within another 14 days.
However, the committee lamented that Governor Cardoso has failed to comply with the resolutions or appear before the National Assembly to explain his position.
The lawmakers stressed that their threat to issue a warrant is anchored in the 1999 Constitution (as amended) and the Standing Rules of the House, aimed at promoting accountability in the management of public finances.
Reps threaten CBN governor with arrest over N5.2tn unremitted funds
![]()
metro
“No Calls, No Love”: Woman Shares Pain of Being Single at 50
“No Calls, No Love”: Woman Shares Pain of Being Single at 50
A 49-year-old woman has stirred emotional reactions online after sharing her distress over remaining single and unmarried as she approaches her 50th birthday.
In a video posted on social media, the visibly emotional woman expressed deep frustration about her personal life, revealing that she has never experienced open romantic interest from a partner. According to her, no one has ever directly expressed love for her or indicated a desire to marry her.
She lamented what she described as a complete absence of communication typically associated with relationships, such as phone calls, text messages, or meaningful emotional connections. Comparing her situation with that of others, she questioned why her experience has been markedly different.
As her milestone birthday draws closer in June, the woman said the weight of her situation has become increasingly difficult to bear. She suggested that her prolonged singlehood might be linked to deeper underlying issues and indicated she may seek spiritual guidance in an attempt to understand her circumstances.
Her emotional outpouring has since sparked conversations on social media, with many users expressing sympathy, while others highlighted broader societal pressures surrounding marriage and age.
.
“No Calls, No Love”: Woman Shares Pain of Being Single at 50
![]()
metro
Viral Threesome Video: Sisi Alagbo’s Husband Accepts Responsibility, Seeks Forgiveness
Viral Threesome Video: Sisi Alagbo’s Husband Accepts Responsibility, Seeks Forgiveness
The husband of popular Nigerian social media personality Eniola Fagbemi, widely known as Sisi Alagbo, Akeem Adesola has publicly apologised following the circulation of a private video involving himself, his wife and another woman that triggered widespread reactions online.
The video surfaced earlier this week and quickly spread across WhatsApp groups, Telegram channels, gossip blogs and other social media platforms, generating intense public debate and criticism.
In a statement posted on his Facebook page on Thursday, Adesola Akeem accepted responsibility for the incident and expressed remorse over the embarrassment and disappointment caused by the controversy.
“I write with a deep sense of responsibility and sincere remorse to extend my heartfelt apologies to my family, friends, business associates, religious leaders, fans, loved ones, and the entire Nigerian public over the recent incident involving a leaked scandal,” he wrote.
“I acknowledge the disappointment, embarrassment, and concern this situation has caused, and I take full responsibility for my actions.”
Akeem said his behaviour fell below the standards expected by people who had supported and trusted him over the years. He also apologised specifically to his family members, supporters, business associates and religious community.
“To my fans and supporters, I deeply regret letting you down,” he added.
According to him, the incident has become a period of personal reflection, noting that he intends to rebuild trust and make better decisions moving forward.
“I am committed to making better decisions, rebuilding trust, and upholding integrity in both my private and public life going forward,” he stated.
Sisi Alagbo had earlier reacted to the controversy through a statement shared on her verified Facebook account on Wednesday. She apologised to followers and supporters, saying the situation had left her emotionally distressed.
“I own my mistakes, and I apologize with all sincerity for the video circulating online. I am deeply sorry to everyone who felt disappointed in me,” she wrote.
The incident has continued to dominate conversations on Nigerian social media, with reactions ranging from criticism to calls for privacy and restraint in sharing sensitive personal materials online.
Some social media users also raised concerns over the growing trend of leaked private content and cyberbullying, urging the public to avoid further circulation of the video.
Sisi Alagbo became widely known online through her promotion of herbal products and lifestyle content. She gained additional national attention during the 2025 Africa Cup of Nations in Morocco after a viral moment involving Super Eagles striker Victor Osimhen.
The couple has not disclosed whether legal action will be pursued regarding the source of the leaked material.
Viral Threesome Video: Sisi Alagbo’s Husband Accepts Responsibility, Seeks Forgiveness
![]()
metro
Lagos faces major power outage after twin failures at Egbin, transmission line
Lagos faces major power outage after twin failures at Egbin, transmission line
Lagos is facing a widespread power outage after a critical double disruption knocked out a major chunk of electricity supply to the nation’s commercial hub.
The Nigerian Independent System Operator (NISO) said a sudden shutdown of the Egbin Power Station and a transmission line failure had significantly weakened power delivery to the state, forcing emergency load-shedding measures.
In a statement issued on Thursday, the system operator disclosed that the Egbin plant suffered a major operational disturbance late on April 28, wiping out its entire output and tightening supply constraints across Lagos.
The incident has also sparked unconfirmed reports of a contractor’s death at the facility, though officials have yet to verify the claim or provide details on what may have occurred.
According to NISO, the disruption happened at about 8:21 p.m., when Egbin’s generation abruptly dropped from approximately 641 megawatts to zero.
The outage was traced to critical equipment failure within the plant, specifically the breakdown of its central compressor and a malfunction in the circulating water pump system. The faults forced an immediate shutdown of all generating units to protect the facility from further damage.
The situation was further worsened by a transmission constraint limiting power flow into Lagos.
“Power supply to the Lagos region is currently further restricted due to the forced outage of the Osogbo–Ikeja West 330kV transmission line,” the operator said, noting that the fault has hampered the evacuation of available electricity into the Lagos load centre.
The combined impact of the generation collapse and transmission failure has created a major supply gap, prompting authorities to ration electricity to stabilise the grid and prevent a broader system failure.
NISO said contingency measures have been activated, including redistributing available power among distribution companies and prioritising critical infrastructure.
Efforts are also underway to ramp up generation from other plants to cushion the impact on consumers.
The agency apologised for the disruption, acknowledging that Lagos and surrounding areas have been hardest hit, and assured residents that stakeholders are working to restore normal supply as quickly as possible.
Located in Ikorodu, Egbin Power Station remains Nigeria’s largest thermal plant on the national grid, with an installed capacity exceeding 1,300MW. Its strategic importance means any outage typically triggers immediate and widespread supply shortages, especially in Lagos, the country’s biggest electricity market.
The Osogbo–Ikeja West 330kV line is equally vital, serving as a key transmission backbone that channels power into Lagos from other parts of the country.
The latest incident once again underscores the vulnerability of Nigeria’s power infrastructure, where isolated failures in generation or transmission can quickly cascade into large-scale outages, highlighting the urgent need for system upgrades and improved maintenance.
![]()
-
metro20 hours agoViral Threesome Video: Sisi Alagbo’s Husband Accepts Responsibility, Seeks Forgiveness
-
metro2 days ago“I Can’t Eat or Sleep”: Sisialagbo Cries Out, Begs For Forgiveness Over Leaked Video
-
metro2 days agoPolice Officer Arrested After Shooting Handcuffed Suspect Dead in Viral Video
-
Politics3 days agoBREAKING: APC Chieftain Osifo Enters 2027 Race, Buys ₦100m Form to Challenge Tinubu
-
metro2 days agoASP Nuhu: Viral Delta Police Shooting Raises Questions Over Officer’s Past
-
Politics2 days agoBREAKING: Court Bars INEC from Recognising Mark-Led ADC Congresses
-
Politics2 days ago“Hamzat Is Scared of Primaries” — Lagos APC Aspirant Rejects Consensus Plan
-
News21 hours agoTinubu Nominates Tegbe as Minister of Power, Seeks Senate Confirmation


