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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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Politics

We’ve Just Finished Renovating Conference Centre With N39B When Our Children Don’t Have Light- Peter Obi ‎

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‎Former Anambra State Governor and Labour Party presidential candidate, Peter Obi has condemned the extravagant lifestyle of Nigerian politicians while basic education infrastructure remains in shambles.

‎Speaking during an interview with SYMFONI TV where he donated computers to Chibok girls, Obi decried the disconnect between political spending and the suffering of ordinary Nigerians, especially students.

‎”We have just finished renovating our conference centre with 39 billion naira when our children in school don’t have light, they don’t have computer, their classrooms are leaking, they don’t have water.”

‎Peter Obi who is Known for his meticulous approach to governance and strong emphasis on education, reiterated that no nation can progress when its leaders prioritize personal comfort over the welfare of its youth.

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I’ll continue to give Tinubu’s enemies high blood pressure – Wike

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Minister of the Federal Capital Territory Nyesom Wike has vowed to ensure that President Bola Tinubu’s enemies develop high blood pressure.

Wike said he had realised that Tinubu’s opponents are unhappy with his good works since assuming office in 2023.

The minister made this statement during the commissioning of the Arterial Road N16 (Shehu Shagari Way) from Ring Road 1 (Nnamdi Azikiwe Way) to Arterial Road N20 (Wole Soyinka Way), along with other roads in the Katampe district of capital city, by President Tinubu on Wednesday.

Wike recalled how he came to understand, while watching television, that some individuals harbour resentment towards Tinubu.

The minister vowed to continue rolling out commendable projects that would cause further dismay to the President’s critics.

He said: “Sometimes, I don’t know, spiritually I was touched. I was just touched to turn it (TV) on, and I was watching, and I didn’t realise that people could be in pain, but now I know that such people are in pain.

“I now must make sure I continue to give them high blood pressure. As they continue to be in pain, it’ll be sweetening us, and that’s now my job.

“I’ll be happy, moving around, and laughing every time, and they’ll be there shouting, fighting, and killing themselves. So, Mr President, thank you for being part of this revolution.”

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Democracy Day: ‘Nigeria is not where it should be’ – Niger Gov, Bago

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Niger State Governor Mohammed Bago has expressed concern that despite over two decades of uninterrupted democratic rule, Nigeria still falls short of its potential.

The governor spoke in a statement released by his Chief Press Secretary, Bologi Ibrahim, to commemorate this year’s Democracy Day.

Bago stressed that more needs to be done to translate democratic rule into tangible development.

“It is worrisome that despite the uninterrupted democratic rule that Nigeria has been having from 1999, the Nation is still not where it should be. More needs to be done,” Bago said.

He called for electoral reforms and enhanced civic participation for inclusive governance and strong democratic institutions that protect the vulnerable, ensure justice and provide equal opportunities for all, thereby, advancing democracy in Nigeria.

Bago also called on Nigerians to reflect deeply on progress made, renew their commitments in the democratic process and uphold the principles of democracy.

According to him, “Democracy symbolises the victory of the collective will of the people, over dictatorship. It also reminds every patriotic Nigerian of the struggles, sacrifices, aspirations, and resilience of our past heroes and heroines.”

He also stated that semocracy has brought about transparency and accountability in governance, vibrant political competition, expression of diverse viewpoints and increased civic engagement, among others.

Bago reassured the people of Niger State that through responsible leadership and inclusive governance for a sustainable development, more dividends of democracy will be provided.

He also called for continuous prayers, support and understanding, while reiterating his firm resolve in the task of building a more secure, transformed and prosperous state under his New Niger Agenda.

“I urge you all to continue to pray for leaders at all levels for a purposeful leadership. I reaffirm my commitment to the New Niger project, which is a possibility,” the governor stated.

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