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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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Zulum Donates ₦50m to Family of Fallen Officer, Reaffirms Support for Military Heroes
Zulum Donates ₦50m to Family of Fallen Officer, Reaffirms Support for Military Heroes
By: Michael Mike
Borno State Governor, Babagana Zulum has donated ₦50 million to the family of late Lieutenant Colonel OC Okolo, who was killed during a Boko Haram attack in Mandaragirau, Biu Local Government Area of Borno State, on February 16, 2026.
The gesture comes amid a series of similar interventions by the governor, including a recent ₦150 million donation to families of three military officers who lost their lives in separate attacks across the state.
Zulum reiterated his administration’s unwavering commitment to supporting families of fallen soldiers, describing their sacrifices as invaluable to Nigeria’s security and unity. He assured that his government would continue to identify with and assist families of personnel killed or declared missing in action in the ongoing counter-insurgency operations.
The donation was delivered at a funeral service held in Obinofia Ndiuno, Ezeagu Local Government Area of Enugu State on Firiday. The governor was represented by his Special Adviser on Security, Brigadier General Abdullahi Sabi Ishaq (Rtd), who presented the cash on behalf of the Borno State Government.
Speaking through his representative, Zulum expressed deep sorrow over the officer’s death.

He said: “Lt. Col OC Okolo was a gallant, dedicated and committed officer of the nation whose contributions will not be forgotten,” while extending condolences to the family, friends, and colleagues of the deceased.
He also prayed for the repose of the late officer’s soul and for strength for the bereaved family.
Responding on behalf of the family, Stanley Okolo expressed profound gratitude to the governor for the support and solidarity shown during their time of grief.
@The family members were particularly touched by the cash donation and the delegation sent from Maiduguri to attend the funeral service despite the short notice,” he said.

He further commended the Chief of Army Staff and the General Officer Commanding, 82 Division, for sending representatives to honour the late officer.
The funeral was attended by senior military representatives, including Brigadier General G.A. Suru, representing the Chief of Army Staff, and Brigadier General I.P. Omoke, who represented the Theatre Commander of Operation HADIN KAI, alongside members of the Nigerian Army Officers’ Wives Association (NAOWA) and the host community.
The donation underscores ongoing efforts by the Borno State Government to recognise and support the families of those who have made the ultimate sacrifice in Nigeria’s fight against insurgency.
Zulum Donates ₦50m to Family of Fallen Officer, Reaffirms Support for Military Heroes
News
MSF Ramps Up Emergency Response as Lassa Fever Outbreak Deepens in Benue
MSF Ramps Up Emergency Response as Lassa Fever Outbreak Deepens in Benue
By: Michael Mike
A worsening Lassa fever outbreak in Benue State has triggered an urgent intervention by international medical humanitarian organisation Médecins Sans Frontières (MSF), as rising infections and deaths place severe pressure on already stretched health facilities.
Working in collaboration with the Benue State Ministry of Health, MSF has deployed emergency teams to reinforce infection prevention and control (IPC) measures, following a surge in cases that has exposed critical gaps in healthcare safety systems—particularly affecting frontline workers.
Official data indicate that as of mid-March, the state recorded 410 suspected cases of Lassa fever, with 60 confirmed infections and 14 deaths. Disturbingly, 14 healthcare workers are among those infected, raising serious concerns about inadequate protective measures within treatment centres.
The situation reflects a broader national crisis. The Nigeria Centre for Disease Control and Prevention (NCDC) reports that Nigeria has recorded 167 deaths from Lassa fever in the first 13 weeks of 2026 alone, with a case fatality rate of 25.2 per cent—significantly higher than the 18.5 per cent recorded during the same period in 2025.
Benue State formally declared the outbreak on February 3, 2026, as infections escalated across communities in what is already recognised as one of Nigeria’s high-risk zones for the disease.
Lassa fever, an acute viral haemorrhagic illness endemic in Nigeria, typically peaks between November and April. It is primarily transmitted through contact with food or household items contaminated by infected rodents, but can also spread through direct contact with the bodily fluids of infected persons—making healthcare settings particularly vulnerable when safety protocols are weak.
Responding to the emergency, MSF launched a three-month intervention in March aimed at containing the outbreak and preventing further transmission. The mission was initiated at the request of state authorities, especially in light of rising infections among health workers and persistent shortages of personal protective equipment (PPE).
“Healthcare workers and patients are at significant risk when infection prevention measures are not fully in place,” said MSF Emergency Coordinator, Juniper Gordon. “Strengthening IPC and improving the organisation of care are critical to reducing transmission in health facilities.”
MSF teams are now providing hands-on support in selected facilities, focusing on strengthening clinical practices and improving patient management systems. This includes training healthcare workers on IPC protocols, reorganising triage processes, and establishing clearly defined high-risk and low-risk zones to limit cross-infection.
The organisation is also supplying essential materials, including PPE, hygiene kits, and sanitation supplies, while reinforcing waste management systems and infection control procedures. Handwashing stations are being installed across supported facilities, and surveillance efforts are being strengthened through improved data collection and monitoring.
In a move to support patient welfare, MSF is also providing food assistance to individuals in isolation centres, helping to ease the burden on affected families.
MSF said it is coordinating closely with global and national partners, including the World Health Organization, UNICEF, and the NCDC, to scale up response efforts and curb the spread of the disease.
Despite these interventions, public health experts warn that the outbreak underscores deeper systemic challenges in Nigeria’s healthcare system, particularly in infection control preparedness and rapid response capacity.
MSF Ramps Up Emergency Response as Lassa Fever Outbreak Deepens in Benue
News
Troops arrest 20 suspects, recover cash, electronics in Adamawa raid
Troops arrest 20 suspects, recover cash, electronics in Adamawa raid
By: Zagazola Makama
Troops of 232 Battalion (Tactical) have arrested 20 suspects and recovered cash and electronics during a raid on suspected criminal hideouts in Mubi North Local Government Area of Adamawa State.
Security sources said the operation was conducted at about 5:00 a.m. on April 10 in Agwan Rami and Agwan Mallam areas, following credible intelligence.
The sources disclosed that troops, in collaboration with local hunters, stormed the identified hideouts and apprehended the suspects.
“During the operation, 20 suspects were arrested in criminal hideouts, while others were picked up for loitering during curfew hours,” the source said.
Items recovered include seven mobile phones, eight touch lights, one ThinkPad laptop and the sum of ₦2,137,285, among other items.
The suspects are currently in custody for further investigation and necessary action.
The operation is part of ongoing efforts to curb criminal activities and enforce law and order in Adamawa State.
Troops arrest 20 suspects, recover cash, electronics in Adamawa raid
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