News

Senate moves against CBN officials over N30tn loans

Published

2 years ago

March 4, 2024

Senate moves against CBN officials over N30tn loans

The Senate says it will question some officials of the Central Bank of Nigeria on how the N30tn Ways and Means loan was obtained and spent by the Muhammadu Buhari-led administration.

Chairman of the Senate Ad-hoc Committee, Senator Isah Jibrin, made the disclosure in an interview with The PUNCH.

The newspaper quoted him as saying that the panel would commence the probe this week.

The Senate last Tuesday appointed Jibrin as the chairman of the panel to probe the N30tn Ways and Means loan released by the then CBN Governor, Godwin Emefiele, to the Buhari administration.

The ‘Ways and Means’ is an overdraft taken directly from the central bank to fund budget deficits or address national contingency needs. This usually follows the approval of the executive arm of government and is meant to be ratified by the parliament.

The Senate had last week Tuesday resolved to probe the N30tn facility, stating that the alleged reckless spending of the overdraft collected from the CBN largely accounted for the food and security crises currently facing the country.

The red chamber then resolved to set up an Ad -hoc committee to investigate how the fund was spent, explaining that the details of how it was spent were deliberately not made available to the National Assembly.

However, the chairman of the panel, also known as Echocho, said the panel had started some background checks based on some documents in its possession.

In an exclusive interview with The PUNCH on Thursday, he said, “We are looking at next week for the investigation at the committee level, but as chairman, I am not waiting for that. I have some documents; I want to write to CBN to provide me with information on some areas.

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“Because Ways and means cover very large latitude, so based on the information that I have now, I am going to write to seek clarifications on certain issues thereafter the committee will meet.

He added that the Ways and Means loan also came up in December 2022 towards the end of the ninth Senate.

Senator added, “I have some documents and I want to leverage on those documents by going through them to ask questions from the CBN to seek further clarifications. Thereafter, we will now invite CBN officials who were engaged under Emefiele, although he is no longer there.

“They were a part of it, they have to come and explain to us. The terms of reference are very simple.

“These monies were given out. We want to know the agencies that benefited from those monies.

“We also want to know the individual Nigerians who benefited. We want to know the terms and conditions. The CBN is not Father Christmas. They are loans; we want to know the beneficiaries of those loans.

“What are the terms and conditions of those loans? What are the collaterals collected to fall back on when there is a default? Have they been repaid? What are the repayment schedules? In case of default do we have collateral? So those are the issues, we are not witch-hunting anybody.”

He further explained, “This country belongs to all of us, we want to know what actually transpired because we are where we are today because of those reckless exercises.

“I will call it reckless because when you are taking a decision as an economist because I want to believe, we have economists there when you take a particular decision, you should be able to ascertain the possible impact of that decision on the larger community.

“You either withdraw or you modify, that is why I am happy that the Monetary Policy Committee has been composed. You know the composition of the MPC is crucial because that is where policy measures are taken. You need to look at it, if this variable is this, and the state of the economy is XYZ, what do you do?

“How do you tinker with some of those variables so that the larger society will improve? That is why we want to unravel all that happened not to witch-hunt anybody but to know the extent to which Ways and means advances have been performed and then other decisions can be taken thereafter.”

It is unclear if the committee will also eventually summon Emefiele as the probe deepens.

Senate moves against CBN officials over N30tn loans

News

Teargas, Chaos at EFCC as El-Rufai’s Supporters Clash with Security Operatives

Published

20 hours ago

February 16, 2026

Trends Admin

Teargas, Chaos at EFCC as El-Rufai’s Supporters Clash with Security Operatives

Tension gripped Abuja on Monday as security operatives fired teargas to disperse protesters and supporters of former Kaduna State Governor, Nasir El-Rufai, during a confrontation at the headquarters of the Economic and Financial Crimes Commission (EFCC).

The standoff reportedly occurred when hundreds of El-Rufai’s supporters accompanied him to the anti-graft agency’s headquarters, escalating an already charged political atmosphere in the Federal Capital Territory.

Eyewitness accounts and video footage circulating online showed security personnel deploying teargas canisters as crowds surged toward the EFCC complex.

In one of the videos, agitated voices were heard declaring, “We will come back; when it clears, we will come back,” suggesting the group’s resolve to sustain their protest despite the crackdown.

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The development follows reports last Thursday that El-Rufai was allegedly stopped by security operatives at the Nnamdi Azikiwe International Airport, Abuja, in what his supporters described as an attempted arrest.

While official details surrounding the airport incident remain unclear, the situation appeared to have heightened tensions among his loyalists.

El-Rufai, who served as governor of Kaduna State from 2015 to 2023, remains a prominent political figure and a key voice within Nigeria’s political landscape.

His tenure was marked by sweeping reforms as well as controversy over security challenges and policy decisions in the state.

As of press time, the EFCC had yet to issue an official statement clarifying the circumstances surrounding Monday’s confrontation or addressing reports of any investigation involving the former governor.

Security presence around the commission’s headquarters was significantly reinforced following the clash, with access to parts of the area temporarily restricted.

The incident adds to growing political tensions in the country, particularly as anti-corruption investigations continue to intersect with high-profile political actors.

Teargas, Chaos at EFCC as El-Rufai’s Supporters Clash with Security Operatives

News

NSCIA Secretary-General Clarifies Council Receives No Government Funding

Published

24 hours ago

February 16, 2026

Trends Admin

Secretary-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA), Prof. Is-haq Oloyede

NSCIA Secretary-General Clarifies Council Receives No Government Funding

The Secretary-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA), Prof. Is-haq Oloyede, has clarified that the council has never received financial support from any government, either within or outside Nigeria. Speaking in Lagos at the 31st Annual Pre-Ramadan Lecture of the University of Lagos Muslim Alumni (UMA), Oloyede stressed that the NSCIA operates independently and relies largely on modest private donations to sustain its activities.

Oloyede, who also serves as Registrar of the Joint Admissions and Matriculation Board (JAMB), explained that in his 15-year tenure as NSCIA Secretary-General, the council had not received “a kobo” from any government. He added that fewer than 20 individuals have donated amounts up to ₦500,000 since 2013, highlighting that the council functions without significant external funding. He decried misinformation and divisive narratives suggesting government involvement under the leadership of the Sultan of Sokoto, Muhammad Saad Abubakar, noting that such speculation undermines unity within Nigeria’s Muslim community.

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Speaking on the theme “Muslims: The Challenge of National Security,” Oloyede warned against viewing insecurity, terrorism, and banditry through a religious lens. He said extremists often cloak their violent acts in religious language, but such actions do not reflect Islam. “Islam cannot be determined by what extremists say or do. We have a duty to correct that narrative,” he said, urging Muslims to reject all forms of extremism while understanding that insurgency thrives on enabling political, social, and economic conditions.

Oloyede stressed that security is central to Sharia, emphasizing that a true Muslim is someone “from whose actions neighbours — regardless of their faith — are safe and secure.” He cautioned against reducing insecurity to regional or religious differences, noting that all parts of Nigeria face security challenges. He called on Muslims to embrace moral responsibility, civic accountability, and practical partnerships to improve national security.

Other speakers at the lecture also highlighted the societal dimensions of insecurity. Dr. Ridwan Jamiu, Chief Imam of Lekki Central Mosque, described insurgents as agents of evil and stressed the need for religious leaders to promote peace and guide followers toward positive community engagement. Lagos State Assembly Speaker Mudashiru Obasa identified poverty and economic inequality as key drivers of insecurity and urged the government and policymakers to focus on job creation, education, and inclusive development as long-term solutions.

The lecture, part of the annual pre-Ramadan engagements, comes at a time when Nigeria continues to grapple with complex security challenges, including insurgency in the Northeast, banditry in the Northwest and North-Central, and rising violent crime in the South. Experts emphasize that national cohesion, interfaith cooperation, and community-led security initiatives are vital to tackling these threats effectively.

NSCIA Secretary-General Clarifies Council Receives No Government Funding

News

Saudi Supreme Court Calls on Muslims to Sight Ramadan Crescent Moon on Tuesday Evening

Published

24 hours ago

February 16, 2026

Trends Admin

Saudi Supreme Court Calls on Muslims to Sight Ramadan Crescent Moon on Tuesday Evening

The Supreme Court of Saudi Arabia has urged Muslims across the Kingdom to look for the Ramadan crescent moon on the evening of Tuesday, February 17, 2026, to determine the official start of Ramadan 1447 AH. The court emphasized that community participation in moon sighting is vital for confirming the beginning of the holy month.

In an official statement relayed by the Saudi Press Agency, the Supreme Court instructed anyone who spots the new moon crescent — either with the naked eye or using binoculars — to report their observation to the nearest court and ensure their testimony is recorded. Local centres have also been set up to assist observers in reaching judicial offices.

The Kingdom has established moon sighting committees across regions to coordinate observations and support public involvement. Authorities encouraged citizens to actively participate, noting that their contributions are essential to help Muslims across Saudi Arabia begin Ramadan in unity.

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Tuesday corresponds to 29 Sha’ban 1447 AH in the Islamic lunar calendar. If the crescent moon is sighted, Ramadan 1447 AH will commence on Wednesday, February 18, 2026. If the moon is not visible, Sha’ban will be completed as 30 days, and Ramadan will begin on Thursday, February 19, 2026. This aligns with centuries-old Islamic tradition of lunar observation.

Muslims worldwide, including in the Gulf Cooperation Council (GCC) countries, are preparing for Ramadan, a sacred month of fasting, prayer, reflection, and charity. Astronomical forecasts suggest visibility may vary across regions, making local observations and testimonies crucial. Similar calls for crescent moon sightings have also been issued by authorities in countries such as Qatar and the United Arab Emirates.

The Supreme Court’s announcement underscores the importance of lunar observation in Islamic practice and encourages public engagement to ensure a synchronized start of Ramadan across the Kingdom.