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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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President Bola Tinubu will not be present at this year’s 79th session of the United Nations General Assembly in New York.

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President Bola Tinubu will not be present at this year’s 79th session of the United Nations General Assembly in New York.

The President has assigned Vice President Kashim Shettima the responsibility of heading Nigeria’s delegation.

President Tinubu, who arrived back in the country last Sunday following his visits to China and the United Kingdom, is prioritizing domestic matters and aims to tackle some of the nation’s pressing challenges, particularly in light of the recent severe flooding.

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Senate to amend constitution for Local Government Autonomy

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By Henry Umoru

President of the Senate, Godswill Akpabio, announced plans to modify the constitution to implement the Supreme Court judgment on local government autonomy.

Akpabio made this statement in Uyo, Akwa Ibom State capital, while receiving APC members loyal to Senator John James Akpanudoedehe.

“I thank President Bola Tinubu for seeking to grant local governments autonomy through the Supreme Court,” Akpabio said. “Under my leadership, the Senate will adjust the constitution to ensure the judgment is fully enforced without loopholes for exploitation.”

Akpabio reflected on his journey with the APC, noting that before joining in 2018, the party hadn’t won any councillorship seats in the state. He expressed gratitude for becoming Senate President with President Tinubu’s support.

“Change is life’s only constant,” Akpabio said. “I joined APC to connect with the center, and now I’m Senate President. God elevated me because I meant well for our people.”

Welcoming back APC members who never left the party, Akpabio prayed, “May God bless you and grant your progressive desires.”

Eteubong Alex Umoh, Obong Kufre Akpan, and Mrs. Roseline Eyang spoke on behalf of the returnees, affirming their loyalty to Akpabio and the APC. “We never left APC; we recognized you as our leader and refused to be used against you.”

The reunited group celebrated their unity, declaring the APC a single, united family.

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BREAKING: The PDP North East Zone Endorses Damagum as National Chair – Adamawa Governor, Fintiri.

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In a statement released today by Chief Press Secretary to the Governor Fintiri

He said, “The People’s Democratic Party (PDP) in Adamawa, Taraba, Gombe, Borno, and Yobe states have endorsed Ambassador Umar Iliya Damagum’s leadership as Acting National Chairman.

“Governor Ahmadu Umaru Fintiri, speaking on behalf of the five states, expressed confidence in Damagum’s leadership since assuming office. Citing a Federal High Court Abuja restraining order, Fintiri stated that Damagum should complete former Chairman Dr. Iyorchia Ayu’s tenure unless the court decides otherwise.

“The Governor praised Damagum for restoring public confidence in the party and urged members to respect the court’s ruling for the party’s and democracy’s sake.

“The Governor who described the performance of the party in the North East region during the 2023 elections as unprecedented at all levels noted that the zone deserves the position of National Chairman more than any section in the North.

“A Federal High Court in Abuja had barred the National Working Committee, Board of Trustees, National Executive Committee, PDP, INEC, and affiliates from replacing, nominating or appointing any Chairman other than Ambassador Damagum, following a restraining order by the Court.”

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