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MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

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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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Police foil kidnap attempt, rescue mother and daughter in Benue

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Police foil kidnap attempt, rescue mother and daughter in Benue

By: Zagazola Makama

The Benue State Police Command has foiled a kidnapping attempt and rescued a woman and her daughter in Tsegbum Community along Naka Road in Makurdi.

Sources said the incident occurred at about 2:20 a.m. on Wednesday when unknown armed men broke into the residence of Mrs Kate Ijuo, 42, and attempted to abduct her and her daughter.

According to a sources from the command, the Divisional Police Officer (DPO) of ‘D’ Division, Makurdi, received a distress call from the victim and immediately mobilised a joint team of police operatives, OPS Zenda Joint Task Force, Anti-Cult, and Cybercrime patrol units to the scene.

On sighting the approaching security teams, the suspects abandoned the victims and fled the area, the sources said.

“The victims were rescued unhurt, while efforts are ongoing to track down the fleeing suspects and effect their arrest,” the command said.

The command urged residents to remain vigilant and promptly report suspicious movements to security agencies.

Police foil kidnap attempt, rescue mother and daughter in Benue

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25m Nigerians To Benefit As President Tinubu Expands Women’s Economic Programme

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25m Nigerians To Benefit As President Tinubu Expands Women’s Economic Programme

FG rolls out digital platform connecting women to finance, markets, skills

By: Our Reporter

President Bola Ahmed Tinubu has expanded the Nigeria for Women Programme to reach 25 million beneficiaries nationwide, reaffirming his administration’s commitment to women’s economic inclusion and national development.

The programme’s pilot phase in six states had already reached over one million beneficiaries, with the scale-up introducing the Happy Woman App Platform, a secure digital interface that connects women to finance, skills, markets, essential services, and government support.

Speaking on Thursday at the Presidential Launch of the Programme Scale-Up at the Presidential Villa, Abuja, the President, who was represented by his deputy, Vice President Kashim Shettima, noted that Nigeria cannot achieve sustainable growth without placing women at the centre of national planning.

“A nation that relegates its women is a nation bound for implosion. We have long understood this truth. That is why this administration has not only placed women at the forefront of decision-making but has also entrusted them with leadership in causes that redeem our national promise. Today stands as proof of that commitment, and I am proud to be part of this journey,” he said.

President Tinubu observed that while women are the authors of Nigeria’s development story, they remain essential to family stability, community resilience and national productivity.

“We have set a bold but achievable national ambition: to reach 25 million Nigerian women through this programme,” he stated, calling on the World Bank to strengthen its financing, technical support and innovation partnerships for the national scale-up.

“Digital inclusion is no longer optional; it is foundational to effective service delivery and national competitiveness,” he added.

The President designated 2026 as the “Year of Social Development and Families in Nigeria,” directing coordinated action across all levels of government.

The declaration followed a Memorandum of Understanding signed during his January official visit to Turkey, aimed at strengthening family cohesion and social welfare systems.

President Tinubu commended the Federal Ministry of Women’s Affairs and Social Development for integrating technology into policy implementation and for reorganising social development into a more coherent system since the launch of the Renewed Hope Social Impact Intervention in Lafia last year, noting the transformation reflected what purposeful leadership can achieve.

The President also praised state governors and the Nigeria Governors’ Forum for aligning federal vision with state-level execution, stating that “national transformation succeeds when all levels of government move with shared purpose.”

Earlier in her welcome address, the Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman Ibrahim, said the launch underscored a significant shift under the leadership of President Tinubu, where women are no longer viewed as peripheral beneficiaries of development but as central drivers of Nigeria’s economic growth, social cohesion, and democratic stability.

She described the launch of the Nigerian for Women Project (NFWP) Scale-Up as one of the most far-reaching and ambitious expansions of social and economic empowerment in the nation’s history.

The Minister noted that phase one of the project successfully achieved its objectives of addressing harmful social norms and strengthening women’s socio-economic resilience.

Beyond these achievements, she emphasized that the project delivered compelling evidence of the transformative power of women’s empowerment.

She further announced the launch of Nigeria’s Third National Action Plan on United Nations Security Council Resolution 1325 on Women, Peace, and Security, positioning Nigeria among a select group of countries worldwide to attain this milestone.

Also, the World Bank Regional Representative for Africa, Mr. Robert Chase, explained that the project was designed by the bank’s Social Policy Department to place women at the center of development, emphasizing that investing in women remains the most impactful investment any nation can make.

On his part, Director of the Nigeria Country Office of the Bill and Melinda Gates Foundation, Mr. Uche Amaonwu, who noted that empowering women directly translates to healthier families and safer communities, said women’s empowerment significantly reduces disease and insecurity at the household level.

For his part, Minister of Agriculture and Food Security, Senator Abubakar Kyari, expressed his Ministry’s readiness to collaborate on initiatives aimed at empowering women across the country.

Representative of the Senate President, Senator Godswill Akpabio, Senator Ireti Kingibe, stated that the scale-up of the Nigerian for Women Project reflects the Federal Government’s commitment to addressing the needs of women.

She added that the National Assembly would continue to enact legislation to expand women’s access to governance and economic resources.

Delivering the goodwill message of the Nigeria Governors’ Forum, the Deputy Governor of Katsina State, Malam Faruk Jobe, reaffirmed the commitment of state governments to providing counterpart funding for the successful implementation of women-focused projects.

He disclosed that Katsina State, a participating state in the project, has earmarked ₦4 billion in its current budget to support the initiative.

25m Nigerians To Benefit As President Tinubu Expands Women’s Economic Programme

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IPA commends Gov AbdulRahman and military on improved security efforts in Kwara

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IPA commends Gov AbdulRahman and military on improved security efforts in Kwara

By: Bodunrin kayode

The Igbomina Professionals Association (IPA) of Kwara state have commended the leadership of Governor AbdulRahman AbdulRazaq, for his sustained commitment to improving security across the state, particularly through recent decisive actions against criminal elements.

The Association made this known in a news release jointly signed by its National President, Olabode Iranloye, and the Assistant Secretary, Mustafa Abubakar, made available recently to newsmen in ilorin.

The statement applauded the government’s support for enhanced security architecture, the upgrade of traditional rulers (Obas) in Igbomina land to 2nd, 3rd, and 4th class status respectively.

They also commended the governor for the reopening of schools, and the relocation of the School of Nursing back to Oke Ode, which to them collectively demonstrates a renewed commitment to stability, development, and public confidence.

IPA also acknowledged the arrest of suspected criminal elements and urged relevant authorities to ensure that justice is fully and transparently dispensed, in line with the rule of law, to serve as a strong deterrent to criminality.

The Association further commended the Nigerian Army, the Nigerian Police Force, other Nigerian troops, forest guards, and local hunters for their courage and professionalism in ridding the general area of criminal elements.

The association particularly mentioned the outstanding performance of the 2 Division of the Nigerian Army under Operation IGBO DANU ( Forest Flush), which has led to the dismantling of several terrorist enclaves, destruction of logistics bases, arrest of suspects, and the rescue of several kidnapped victims across the State.

IPA recognised the leadership of Major General Chinedu Nnebife, General Officer Commanding (GOC) 2 Division Nigerian Army, and Brigadier General Nicholas Rume, Commander 22 Armoured Brigade, as well as the strategic support of the Office of the National Security Adviser (ONSA), whose coordinated efforts have significantly degraded terrorist operations in the state.

The Association called on the Kwara State Government and security agencies to sustain the tempo of these operations and assured them of the full support of the Igbomina Professionals Association in the ongoing drive to secure lives and property.

IPA also urged for intensified efforts to ensure the safe return of all residents still in captivity, stressing that the safety and dignity of citizens must remain paramount.

The Association further called on all Kwarans to cooperate with security agencies by exposing criminal collaborators within their communities, emphasising that “if you see something, say something.”

Collective vigilance, the association noted, remains critical to sustaining peace and security in Kwara State.

IPA commends Gov AbdulRahman and military on improved security efforts in Kwara

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