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Nigerian Senate to bring in CBN gov over N30trn Ways and Means loan

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The Senate Ad-hoc Committee probing the N30tn Ways and Means loans to the Federal Government has discovered 13 infractions in the process of obtaining the loan.

The Senate also disclosed that it would summon the governor of the Central Bank of Nigeria, Olayemi Cardoso.

This came to the fore when the Chairman of the Committee, Senator Isah Jibrin (Kogi East) and other members of the committee met with officials of the CBN at the National Assembly on Tuesday.

The team of CBN officials was led by Bala Bello.

 

The ad-hoc committee is probing the disbursement and usage of the N30 trillion Ways and Means loan obtained during the administration of former President Muhammadu Buhari from the CBN.

Jibrin said the former governor of the CBN, Godwin Emefiele, unilaterally signed billions of naira in the approval of different tranches of the loan without following due process.

The Kogi lawmaker stated that Emefiele illegally signed billions of naira in 13 documents.

 

The committee chairman said Emefiele ought to have approved the loans in conjunction with the CBN board of directors but the latter unilaterally signed the loans which was contrary to the provisions of the CBN Act.

Jibrin said, “The committee of governors ought to be the signatories to the Ways and Means account but in the document we have here, the governor signed billions of naira in about 13 places.

“We want to know the total figure of the Ways and Means. We want to know the summation of the figure.”

The committee chairman further noted that documents available to him on the Anchors Borrowers Programme implemented by former President Buhari’s administration indicated that about 70 per cent of the programme has been executed, leaving 30 per cent.

He said, “On the Anchor Borrowers Programme, you have done well. You did about 70 per cent but we must ensure the completion of the remaining 30 per cent.”

Jibrin, however, informed them that the committee will summon the CBN governor, Cardoso, to give a detailed account of what he knew about the Ways and Means.

“Your governor who took over from Emefiele, should be able to stand for Emefiele because he took over from him including his assets.

“Emefiele should provide an explanation to the existing governor. We will invite the governor and in case he does not have a response, he will contact Emefiele,” he added.

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Why I snubbed Trump’s inauguration – Michelle Obama

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Former US First Lady, Michelle Obama, has explained decision to snub President Donald Trump’s second inauguration earlier this year.

Obama’s absence led to a lot of speculation and criticism.

She had also skipped former President Jimmy Carter’s funeral on January 9.

But speaking on the latest episode of her podcast IMO with Michelle Obama and Craig Robinson, which she co-hosts with her brother, she opened up on her reasons.

In a discussion with actress Taraji P. Henson, she opened up about the deeply personal reasons behind her decision.

“My decision to skip the inauguration — you know what people don’t realize or my decision to make choices at the beginning of this year that suited me, were met with such ridicule and criticism,” she said.

“People couldn’t believe that I was saying no for any other reason, they had to assume that my marriage was falling apart.

“While I’m here really trying to own my life and intentionally practice making the choice that was right for me.”

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Insecurity: Nigerian Govs set up team to partner security agencies

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The Nigeria Governors’ Forum has set up a sub-committee to collaborate with heads of security agencies for immediate solution to security challenges in the country.

Imo State governor, Hope Uzodinma announced this in the early hours of Thursday while reading a communique issued after the NGF’s second meeting held late Wednesday night in Abuja.

The communique was signed by the forum’s Chairman, Governor AbdulRahman AbdulRazaq of Kwara.

Uzodinma noted that the governors’ decision was as a result of their admiration for technology-driven solutions presented by the Chief of Defence Staff (CDS), who made a presentation at the meeting.

”The Forum received a presentation from the CDS on an innovative security initiative aimed at strengthening national and sub-national capacity for early threat detection and coordinated response.

”The project envisions the phased deployment of advanced technology and infrastructure to improve surveillance, crisis management and public safety.

”Governors expressed support for the initiative’s objectives and underscored the importance of technology-driven solutions in addressing evolving security challenges at the state level.

”Governors also commended the CDS and indeed the Nigerian military for these valuable propositions and initiatives,” he said.

Uzodinma added that the forum also received a presentation from the Minister of Housing and Urban Development, Ahmed Dangiwa, on unlocking the economic potential of land through a Federal-State partnership for land reform.

He said that the minister outlined ongoing housing initiatives under the Renewed Hope Programme and proposed a comprehensive land registration reform to formalise land ownership, enhance tenure security and boost internally generated revenue across states.

”The Forum also received a presentation on a proposed strategic partnership with Powercom Smart Grid Nigeria Limited (PSGN), aimed at revitalising the electricity distribution sector through private sector investment.

”Under the proposed agreement, PSGN will assume operational control of select distribution companies (Discos), introduce advanced smart grid technologies and establish a meter production facility to enhance service delivery and energy across states,’’ he said.

Dangiwa who spoke earlier in an interview with newsmen, said the presentation was to update the governors on the current administration’s Renewed Hope Cities and Estates Programme.

The minister said, the presentation was also to request for land from all the state governors yet to offer the required land needed for the housing programme.

Also speaking, Governor Uba Sani of Kaduna State said the recent killings and attacks in some states should not be seen as an indictment on the governors because they have limited roles to play in addressing security challenges.

Sani said while he agreed with the National Security Council comment he also believed that security agencies in Nigeria should also step up action and do what is right.

He said that while leaders must take responsibility, there was need for all stakeholders to work together and address the problem of insecurity.

”In my opinion, it is not an indictment. I do agree that we have a limited role to play concerning the constitution of Nigeria.

”By the grace of God, it is one of the areas we are going to look at, the possibility of the creation of state police in Nigeria, which for me would go a long way in tackling insecurity, particularly at the sub-national level,’’ he said.

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Rivers Sole Administrator, Ibas attends National Economic Council meeting in Aso Rock

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Vice President Kashim Shettima is currently presiding over the National Economic Council, NEC, meeting at the Presidential Villa, Abuja.

Surprisingly, the Sole Administrator of Rivers State, Ibok-Eke Ibas, is in attendance.

Governor of Delta State, Sheriff Oborevwori, who just defected from the Peoples Democratic Party, PDP, to the All Progressives Congress, APC, is also at the meeting.

Other governors spotted at the meeting include Rev. Fr. Hyacinth Alia, Benue; Abdulrahman Abdulrazak, Kwara; Monday Okpebholo, Edo; and Bassey Otu, Cross River.

A number of deputy governors are also in attendance.

The National Economic Council meeting is usually chaired by the Vice President. The meeting deliberates on issues that concern Nigeria’s economy.

More details later…

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