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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

June 12: I won 1999 presidential election, military imposed Obasanjo president – Olu Falae

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As Nigeria celebrates June 12, former Secretary to the Government of the Federation, SGF, Chief Olu Falae, has insisted that he won the 1999 presidential election.

Falae claimed that he won the election with election with 1.5 million votes, adding that the result was confirmed to “him by the late Ambassador Antonio Oladeinde Fernandez,” who reportedly saw the results in the possession of American officials.

Speaking with Arise Television, Falae said the military installed former President Olusegun Obasanjo because he was a retired Army general.

The former SGF insisted that the military wanted someone who would shield them from scrutiny, hence the choice of Obasanjo as winner of the 1999 presidential election.

According to Falae, the military was uncomfortable with handing over power to a “thoroughbred civilian.”

“I have no doubt in my mind, and most Nigerians have no doubt whatsoever, that it was I that they voted for.

“I was ready to govern. I had spent my life in public and private service without blemish. I was better prepared.”

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Democratic governance has taken root despite ongoing challenges – Gov Kefas

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Governor Agbu Kefas of Taraba State has once again affirmed that democratic governance has taken root despite ongoing challenges.

In a statement released on his behalf by his Special Adviser on Media and Digital Communications, Emmanuel Bello, in commemoration of Democracy Day, Governor Kefas saluted Nigerians, who he said have contributed to deepening the democratic experience.

Stressing that “the labours of our heroes past shall never be in vain,” the governor, reflecting on the country’s democratic journey, emphasised the importance of perseverance and nation-building.

Arguing that “Rome was not built in a day,” he urged Nigerians to remain hopeful and committed to democratic ideals that strengthen institutions and promote good governance.

Kefas, who also cited progress in peace and security, noted that improved safety in Jalingo and other areas had created a conducive atmosphere for political participation and constructive criticism.

“Jalingo and its environs were once plagued by kidnappings and criminality. Today, through hard work and commitment, we’ve made the state safe enough for residents to return and freely express their views. That’s part of the democratic progress we celebrate,” he recalled.

The governor reiterated his belief in action over rhetoric, stressing the importance of laying solid foundations for sustainable development.

“We are not in a hurry. I talk less and plan more,” he said. “If, after four years, we haven’t delivered, then the people can judge us accordingly,” Kefas said.

He added: “We now have a clear roadmap on which to build the infrastructure our people need. It was worth the wait to ensure things are done properly and will stand the test of time.”

He called on citizens to remain patient and supportive, as the government continues its efforts to transform the state for the better.

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Democracy must be protected, nurtured – Fubara

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Suspended Rivers State Governor, Siminalayi Fubara, has reaffirmed his unwavering commitment to the rule of law, the protection of fundamental human rights, and the promotion of inclusive democratic participation for all citizens, regardless of political affiliation.

In his Democracy Day message on Thursday, Governor Fubara emphasized that his administration remains focused on protecting lives and property, while upholding the values of transparency, accountability, and inclusivity in governance.

He pledged to continue defending the interests of Rivers State and to lead a government grounded in fairness and openness.

Reflecting on Nigeria’s 26 years of uninterrupted democracy, Fubara called for unity and collaboration across political lines to build a society where every citizen is heard, empowered, and encouraged to contribute to collective progress.

Addressing the recent political tensions in Rivers State, including his own suspension alongside other elected officials, the governor described these events as a stark reminder of democracy’s fragility and the need for constant vigilance in its preservation.

In a statement issued by his Chief Press Secretary, Nelson Chukwudi, Governor Fubara acknowledged that Rivers State’s democratic journey has seen both triumphs and setbacks, all of which underscore the importance of remaining steadfast to democratic ideals.

He highlighted his administration’s commitment to fairness, civil liberties, and institutional oversight, noting that deliberate efforts have been made to foster inclusion, accountability, and openness, essential pillars for sustaining democracy for future generations.

Despite the challenges faced, Fubara expressed confidence in the resilience and determination of the people of Rivers State, as he urged citizens to “approach this critical moment with unity, courage, and renewed purpose”, emphasizing that “the state’s future depends on collective action, innovation, and shared aspirations.”

He also paid tribute to past leaders whose sacrifices laid the groundwork for today’s democratic gains, reminding citizens to honour that legacy by upholding the values they fought for.

Governor Fubara encouraged Rivers people to act with patriotism, dedication, and a sense of responsibility, just as he expressed optimism that, through collective effort and determination, Rivers State will emerge stronger and more united.

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