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MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT
MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT
By: Michael Mike
Centre for Social Justices (CSJ) notes with regret the recent amendment to the Central Bank of Nigeria Act, increasing advances the CBN can grant to the Federal Government of Nigeria from 5 percent to 15 percent. The amendment contradicts best practices in fiscal responsibility and is an authorization of the Executive to create macroeconomic distortions through arbitrary and increased ways and means funding.
We recall that the extant S.38 of the CBN Act grants FGN access to ways and means financing in respect of temporary deficiency of budget revenue at such rate of interest as may be determined by CBN. The total amount of such advances outstanding shall not at any time exceed five per cent of the previous year’s actual revenue of FGN. All Advances made pursuant to this authority shall be repaid – (a) as soon as possible and shall in any event be repayable by the end of the Federal Government financial year in which they are granted and if such advances remain unpaid at the end of the year, the power of CBN to grant such further advances in any subsequent years shall not be exercisable, unless the outstanding advances have been repaid.
According to Senator Gobir said: “The very essence of this bill is to enable the federal government to meet its immediate and future obligation in the approval of the ways and means by the National Assembly and advances to the federal government by the Central Bank of Nigeria. This amendment is very consequential and it needs the support of us all. This is to enable the federal government to embark on very important projects that will inflate and rejig the economy.” However, the amendment is a misconceived route to meeting the needs and obligations of FGN and definitely cannot be the road to rejigging the economy. It will rather create new macroeconomic challenges.
Specifically, the following issues are noteworthy:
v If FGN has not been able to refund previous advances from the CBN at 5 percent of previous year’s revenue, what machinery did the amendment put in place to ensure that FGN will be in a position to repay 15 percent of previous years revenue by the end of its financial year?
v There is evidence that previous advances from the CBN were in excess of the 5 percent rule and instead of reforms to ensure conformity with fit and good practices, a leeway is provided for deepening fiscal mischief.
v Previous high levels of advances led the Executive to incur over N23trillion in ways and means which could not be repaid and had to be converted by the National Assembly to long term indebtedness contrary to the provisions of the CBN Act.
v S. 38 (1) of the CBN Act categorically states that such advance should be in respect to temporary deficiency of budget revenue and not as a means of funding the deficit budget as the Federal Government has resorted to in recent years. Over the years and in accordance with fit and good practices, ways and means has never been listed in the Appropriation Act as a source of funding the deficit.
v The option of resorting to ways and means to fund budgetary deficits further increases the already high inflation rate especially when done by printing money not backed by value. Thus, it erodes the value of the Naira, and real income; it reduces purchasing power of citizens.
v The amendment of the CBN Act did not follow due process; it was arbitrary and lacking in popular particpation. There was no opportunity of a public hearing and publicity, to give room for Nigerians to make inputs on this very crucial matter with potentials to negatively affect overall economic growth and general welfare of the people.
In the light of the foregoing, CSJ strongly appeals to President Bola Ahmed Tinubu to withhold assent to the bill. CSJ acknowledges the revenue challenges facing the nation but the implementation of this particular bill (if it becomes law) will create monumental macroeconomic challenges now and in the future.
Eze Onyekpere Sundayson Chidi
Lead Director Program Manager, Public Finance Management.
MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT
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2027: Constituents declare support for Tinubu, Goje’s re-election
2027: Constituents declare support for Tinubu, Goje’s re-election
Yamaltu/Deba constituents have declared support for President Bola Tinubu and Senator Danjuma Goje’s re-election ahead of the 2027 General Elections.
Dr Newton Moses, declared the support in a statement read on behalf of the people of Yamaltu/Deba Local Government Area of Gombe State on Friday in Gombe.
Moses said voting for experienced leaders in 2027 remained key to addressing Nigeria’s challenges and delivering dividends of democracy to Nigerians.
He said the group’s decision to support Tinubu and Goje was guided by patriotism, and a sincere desire to see competent, and result-driven leadership that would benefit their constituents and the country.
He said that Goje’s leadership in the past 16 years at the Senate has benefitted the constituents and given effective representation to the people of Akko and Yamaltu/Deba LGAs that make up the district.
He dismissed allegations that the people of Yamaltu/Deba have been marginalised and were demanding the seat to be zoned to Yamaltu/Deba and not Akko where Goje is from.
He said that the constitution did not impose any zoning limitation or tenure restriction on membership in the National Assembly, hence urged those seeking the seat to test their popularity through election.
“We are not part of that group saying Goje should not return to the senate in 2027; that is not the voice of the grassroots from Yamaltu Deba.
“ Goje has, over the years, built invaluable networks and acquired the experience necessary to effectively advocate for the interests of his constituency and contribute meaningfully to national development.
“ By returning Goje to the Senate, Gombe Central stands to gain even more.
“ His established influence will ensure greater access to federal opportunities, increased developmental projects, and stronger representation in critical national decisions,” he said.
The group further advised President Tinubu to stay away from those working to tarnish the good name of Goje, stating that Goje’s influence in Gombe was important for the success of the All Progressives Congress in 2027.
Moses said at a time when Nigeria is focused on economic recovery, institutional strengthening, and inclusive growth under Tinubu, it was imperative that proven leaders like Goje to continue contributing his expertise toward national progress.
2027: Constituents declare support for Tinubu, Goje’s re-election
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Hope in the Hard Times: Ashlee Momoh Foundation Spreads Easter Joy to Military Widows
Hope in the Hard Times: Ashlee Momoh Foundation Spreads Easter Joy to Military Widows
By Comrade Philip O. Ikodor
The Ashlee Momoh Foundation (AMF), a non-profit organization dedicated to supporting the families of fallen officers, marked the Easter season with a heartwarming outreach to military widows at different locations in Abuja and Nasarawa state, respectively on April 2nd, 2026. This thoughtful initiative was designed to bring joy, hope, and support to the widows of our fallen Military Officers, who have made immense sacrifices for their country.

“Easter is the season of renewal, hope, and the triumph of light over darkness,” Princess Ashlee said. “It reminds us that even after the longest winter, spring arrives and even after the deepest sorrow, there is the possibility of a new dawn.” The outreach was designed to show support and encouragement to the military widows, and to felicitate with them on the occasion of Easter.

Princess Ashlee Momoh reassured the widows that while their loved ones are no longer physically present, their legacy lives on, and AMF is committed to standing with them, supporting them, and celebrating their strength. “Today, we celebrate you, our heroes’ widows, and the sacrifices you’ve made,” she said.
The event was filled with moments of joy and fulfilment, as beneficiaries received gift items, cash gifts, and scholarship opportunities. The Foundation also announced enlistment for skill acquisition and empowerment programs, aimed at equipping the widows with the tools they need to rebuild their lives.

The outreach was a testament to AMF’s unwavering commitment to supporting the families of fallen officers, and its dedication to making a positive impact in the lives of those who have made immense sacrifices for their country. As one beneficiary put it, “This Easter, we’ve received more than just gifts – we’ve received hope, love, and a sense of belonging.”

The Ashlee Momoh Foundation’s Easter outreach was a powerful reminder that even in the darkest moments, there is always hope, and that together, we can overcome any challenge.
Hope in the Hard Times: Ashlee Momoh Foundation Spreads Easter Joy to Military Widows
News
Six die, 12 injured in Kwara road crash
Six die, 12 injured in Kwara road crash
By: Zagazola Makama
Six persons have been confirmed dead and 12 others injured in a fatal road traffic accident along the Okolowo–Jebba expressway in Kwara State.
Police sources said the accident occurred at about 6:00 a.m. on April 2 near Danjuma Bakery area, involving a Toyota Hummer bus and a stationary truck.
According to the sources, the bus with registration number BTR-161-XA was conveying 18 passengers from Lagos State to Katsina State when it rammed into a parked truck with registration number BUU-495-ZD.
The truck was reportedly driven by Kamarudeen Abdullahi, said to be from Jos North Local Government Area of Plateau State.
The impact of the collision resulted in the death of six passengers on the spot, while 12 others sustained varying degrees of injuries.
The injured victims were rushed to the University of Ilorin Teaching Hospital, Oke-Oyi, for medical attention, while the remains of the deceased were deposited in the hospital morgue for autopsy.
Police said investigation had commenced to determine the circumstances surrounding the crash.
Six die, 12 injured in Kwara road crash
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