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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
News
VP Shettima Attends High-Level Meeting On Africa’s Health Security Sovereignty
VP Shettima Attends High-Level Meeting On Africa’s Health Security Sovereignty
By: Our Reporter
Shortly after his bilateral discussions with United Nations Secretary-General António Guterres, Vice President Kashim Shettima moved on to a high-level meeting on Building Africa’s Health Security Sovereignty on the sidelines of the African Union Summit in Addis Ababa, Ethiopia.
The session, organized by Africa CDC and fully supported by the Nigerian government, convenes African leaders and health policymakers to chart the path toward strengthening the continent’s health emergency preparedness, response systems, and pharmaceutical independence.

Joining the Vice President at the meeting are key Nigerian officials including the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, and Minister of Foreign Affairs, Amb. Yussuf Tuggar.
Other African health ministers in attendance include Dr. Ibrahim Sy of Senegal, Madalisto Baloyi of Malawi, and Dr. Mekdes Daba of Ethiopia.
VP Shettima Attends High-Level Meeting On Africa’s Health Security Sovereignty
News
ISWAP suspected in Baga abduction of five civilians
ISWAP suspected in Baga abduction of five civilians
By: Zagazola Makama
Five civilians were abducted on Feb. 12, 2026, by suspected Boko Haram/ISWAP terrorists in Doro Baga, Kukawa Local Government Area, Borno State, the Police Command reported.
Sources disclosed that the victims, Alhaji Sani Boyi, Bullama Dan Umaru, Baba Inusa, Abubakar Jan Boris, and Mallam Shaibu, were taken while purchasing fresh fish at a local market around 7:00 a.m.
The troops of Sector 3 Operation HADIN KAI, Civilian Joint Task Force (CJTF)/hunters immediately responded to the incident.
Relevant intelligence has been gathered, and search and rescue operations are ongoing to secure the release of the victims.
ISWAP suspected in Baga abduction of five civilians
News
Is Russia Immune to Media Scrutiny in Africa?
Is Russia Immune to Media Scrutiny in Africa?
•Press freedom, sovereignty and Africa’s refusal to be silence
By Oumarou Sanou
A dangerous precedent is emerging across Africa’s diplomatic and media landscape: the public targeting of individual journalists by foreign missions for simply asking difficult questions. The recent pattern of responses from the Russian Embassy in Nigeria toward African journalists and media platforms raises deeper concerns, not only about geopolitics but also about press freedom, sovereignty, and the dignity of African voices.
Bullying a single African journalist through official diplomatic channels is not merely a disagreement; it is an intolerable affront to free expression. Journalism exists to question power, whether domestic or foreign. When embassies shift from presenting facts to publicly discrediting individuals, the implication is clear: criticism will be punished personally rather than debated professionally. Today it is one journalist; tomorrow it could be an entire media ecosystem.
In recent months, respected outlets, including Premium Times, THISDAY, The Guardian Nigeria, and Leadership Newspaper, have faced unusually harsh diplomatic rebukes after publishing critical analyses. Prominent commentators such as Azu Ishiekwene and Richard Akinnola, as well as Oumarou Sanou, have also been singled out. Instead of counter-evidence, the response has often been personal accusations and insinuations of hidden sponsors. That approach undermines constructive dialogue and erodes trust in diplomatic engagement.
Let us be clear: journalists are human and can make mistakes. Professional reporting welcomes correction. If the facts are incorrect, present evidence, make the data open, and allow readers to judge. Insults, calumny and attempts to destroy professional reputations are not rebuttals; they are attempts to silence scrutiny. No foreign government should expect immunity from questioning on African soil.
Africa’s position in the evolving global order must remain principled and independent. Africans are not invested in the confrontation between Russia and the West; it is not our war. A genuine Pan-African perspective demands equal scrutiny of all external powers. If tomorrow credible evidence emerges that Britain, France, America, China or any other actor is recruiting Africans into foreign conflicts under deceptive pretence, the same criticism must apply. The principle is simple: African lives are not expendable tools in geopolitical struggles.

Reports of African nationals—including Nigerians—fighting and dying thousands of miles away in foreign wars raise serious ethical and security questions. Whether through informal networks, deceptive job offers, or shadow recruitment channels, African citizens are being drawn into conflicts that do not belong to them. Journalists who expose these risks are not attacking any nation; they are protecting their fellow Africans from exploitation and preventable tragedy.
Kenya’s recent stance offers a compelling example. Kenyan authorities publicly condemned the recruitment of their citizens into foreign conflicts and moved to close illegal agencies while seeking diplomatic explanations. That response signals a broader African awakening: governments must prioritise the safety and dignity of their citizens over the sensitivities of powerful partners. Nigeria and other African states would do well to adopt similar vigilance.
Beyond individual cases lies a deeper philosophical question. Neocolonialism today is not defined by flags or territorial control but by influence, dependency and narrative domination. Great powers—East or West—sometimes behave as though African voices must align with their geopolitical agendas. This assumption is unacceptable. Africans have their own interests, challenges and aspirations. We are not puppets in anyone’s strategic theatre.
Respect in diplomacy must be reciprocal. If a foreign embassy publicly attacked a journalist by name inside Moscow, Paris or Washington, would it be considered acceptable conduct? Sovereignty demands mutual respect, not selective outrage. African countries deserve the same diplomatic courtesy that global powers expect at home.
At the same time, African journalism must remain grounded in professionalism and evidence. Responsible reporting strengthens credibility and protects the integrity of public discourse. But professionalism cannot thrive in an atmosphere of intimidation. When journalists are targeted individually, the chilling effect extends far beyond the targeted individual; it discourages others from investigating sensitive issues of public concern.
The response from Africa’s media community must therefore be collective. Silence in the face of intimidation risks normalising it. Journalists, editors and civil society organisations should stand together to defend the right to ask difficult questions without fear of diplomatic retaliation. Protecting a single journalist ultimately concerns protecting the profession and safeguarding the democratic space.
Africa’s future in a multipolar world will depend on its ability to engage all partners while remaining fiercely independent. That independence begins with intellectual sovereignty: the freedom to question everyone and align with no external agenda. Whether criticism targets Russia, Western nations or any other power, the standard must remain consistent: facts over propaganda, dialogue over intimidation, and mutual respect over coercion.
No nation is above scrutiny. No African journalist should be silenced for doing the work that democracy demands.
Oumarou Sanou is a social critic, Pan-African observer and researcher focusing on governance, security, and political transitions in the Sahel. He writes on geopolitics, regional stability, and African leadership dynamics. Contact: sanououmarou386@gmail.com
Is Russia Immune to Media Scrutiny in Africa?
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