News
Senate moves against CBN officials over N30tn loans
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
INEC Warns ADC Against Holding Convention Without Supervision
INEC Warns ADC Against Holding Convention Without Supervision
The Independent National Electoral Commission (INEC) has cautioned the African Democratic Congress (ADC) against proceeding with its planned congresses and national convention without proper supervision and in defiance of an existing court order.
Chairman Joash Amupitan issued the warning during an interview on Arise TV on Friday, after the ADC insisted on going ahead with its convention despite INEC’s derecognition of the leadership faction linked to David Mark and Rauf Aregbesola.
Amupitan stressed that INEC’s actions were guided by legal considerations, particularly a subsisting court order restraining the ADC from taking steps that could undermine ongoing legal proceedings. “Don’t do anything. Don’t take any step that will render any proceeding before the court nugatory,” he said.
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He explained that the ADC’s plan to conduct congresses and a national convention is already part of a pending legal process, with motions related to the activities yet to be determined by the court. Ignoring the court’s directive, he warned, could result in invalidated elections or nullified internal party decisions, citing precedents in Zamfara and Plateau states where failure to comply with court orders affected electoral outcomes.
Amupitan highlighted the risks of repeating past mistakes, stressing that while the ADC is free to act as it chooses, INEC would not risk supervising illegal or unauthorized party activities. He reinforced the importance of adhering to the Electoral Act and judicial directives to ensure that party events are legally recognised and free from future challenges.
The INEC Chairman’s warning comes amid heightened tension within the ADC, with the faction led by David Mark facing derecognition and ongoing litigation over the party’s legitimate leadership. Analysts note that the statement underscores INEC’s commitment to rule of law, legal compliance, and internal party democracy, especially as Nigeria approaches the 2027 general elections.
INEC Warns ADC Against Holding Convention Without Supervision
News
Presidency Clarifies Why Tinubu Met Plateau Victims Only at Airport
Presidency Clarifies Why Tinubu Met Plateau Victims Only at Airport
The Presidency has clarified why President Bola Tinubu did not leave the airport during his recent visit to Jos, amid public criticism. Officials said the decision was driven by tight scheduling, logistical constraints, and aviation safety concerns.
President Tinubu visited Jos North Local Government Area, where he met with families of victims killed in the Angwan Rukuba attack. Speaking to the bereaved, he said, “You have no light at the airport, and I have to fly back within the next 10 minutes. To the victims, there’s nothing I can give you, whether it’s money in millions, but console you and promise you that this experience will not repeat itself.”
The visit was attended by political supporters, traditional rulers, security operatives, and other stakeholders. However, Tinubu’s airport-only engagement drew criticism, with some accusing him of insensitivity toward grieving families.
In response, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, explained that Tinubu’s schedule on Thursday included receiving Chadian President Mahamat Idriss Déby Itno at the Presidential Villa before traveling to Iperu in Ogun State. Following a security briefing by Plateau Governor Caleb Mutfwang, the Ogun trip was canceled, and an emergency visit to Jos was arranged overnight.
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Officials said logistical challenges made a town visit impractical. The airport runway does not support night flights, and the road distance from the airport to Jos township is about 40 minutes. These factors made it unfeasible for the President to visit the conflict site, meet victims in town, and return to the airport safely before dusk.
To ensure engagement, representatives of affected communities were brought to a hall adjoining the airport, allowing Tinubu to meet directly with victims, local leaders, and security officials. Among attendees were the Minister of Defence, the Chief of Army Staff, and the Inspector General of Police, who had visited Rukuba to assess security operations.
During the meeting, the President consoled victims, listened to their concerns, and assured justice would be delivered. He also promised the deployment of 5,000 AI-enabled surveillance cameras to monitor the city and enhance the identification and arrest of troublemakers. Furthermore, he invited community leaders to Abuja for additional talks on long-term solutions to recurring violence in Plateau State.
The Presidency described the visit as a strategic, high-level engagement aimed at addressing the root causes of conflict, rather than a symbolic gesture. Officials emphasized that Tinubu’s approach prioritized safety, efficiency, and direct interaction with key stakeholders while adhering to flight and logistical constraints.
Despite the criticisms, the televised meeting was seen as reassuring by residents, signaling the President’s commitment to peace, security, and community-driven solutions in Plateau State.
Presidency Clarifies Why Tinubu Met Plateau Victims Only at Airport
News
Heavy Security Deployed at INEC Headquarters Abuja Amid Planned ADC Protest
Heavy Security Deployed at INEC Headquarters Abuja Amid Planned ADC Protest
Armed security forces on Thursday surrounded the Independent National Electoral Commission (INEC) headquarters in Abuja as tensions escalated over a planned protest by supporters of the African Democratic Congress (ADC). The move comes amid a deepening leadership crisis within the party, which has split into rival factions, prompting agitation and nationwide attention.
Eyewitnesses reported a strong presence of Nigeria Army personnel, with armoured vehicles stationed at strategic points around the INEC complex in the Maitama district. The Nigeria Police Force, Department of State Services (DSS), and Nigeria Security and Civil Defence Corps (NSCDC) also reinforced security, restricting movement and monitoring activities closely to prevent potential clashes.
The heightened security follows INEC’s decision to remove the names of Senator David Mark and former Osun State Governor Rauf Aregbesola as National Chairman and National Secretary of the ADC from its official portal. The commission said this action complied with preservatory orders issued by the Court of Appeal, directing all parties to maintain the status quo until the Federal High Court delivers a final judgment.
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The ADC dispute has created two competing camps: one backing David Mark and the other supporting Nafiu Bala Gombe as acting chairman. Both sides have sent conflicting communications to INEC, further complicating the situation and sparking the threat of protests at the commission’s headquarters.
“The names of the current National Working Committee members led by Senator David Mark… would be removed from the INEC portal pursuant to the order of the Court of Appeal to maintain the status quo ante bellum,” INEC stated, clarifying that it would suspend recognition of any faction until judicial resolution.
Supporters of the ADC have accused INEC of bias and interference in the party’s internal affairs. Civil society groups and political commentators have urged restraint and neutrality from the electoral commission to prevent further escalation of tensions.
Security operatives set up checkpoints and roadblocks around INEC headquarters, with armed personnel maintaining a visible presence. The deployment is viewed as a preventive measure to avert potential clashes or breakdown of law and order while the legal dispute unfolds.
Political observers note that the heavy security presence at INEC highlights the growing intersection of party politics and public order in Nigeria, as the ADC leadership tussle remains unresolved and could influence upcoming electoral processes.
Heavy Security Deployed at INEC Headquarters Abuja Amid Planned ADC Protest
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