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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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Agriculture partnership: Gov Yahaya to get Sasakawa’s Special Award

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Agriculture partnership: Gov Yahaya to get Sasakawa’s Special Award

Governor Muhammadu Inuwa Yahaya of Gombe State will be honoured with a Special Recognition Award by the Sasakawa Africa Association (SAA) Nigeria, in acknowledgement of the state’s sustained partnership and strategic commitment to agricultural development.

The award will be presented at the 2026 SAA Nigeria Annual Stakeholders Workshop on Thursday, April 9, 2026, in Abuja, where top federal officials, development partners, diplomats, and state governments are expected to gather to discuss pathways for strengthening Nigeria’s food systems.

The workshop, holding at Rockview Royale Hotel, Wuse II, is themed “SAA @ 40: Deepening Impact and Expanding Reach at Scale.”

The recognition of Governor Inuwa Yahaya reflects the depth of Gombe State’s collaboration with SAA over the years, which has supported agricultural extension, smallholder productivity, and rural livelihoods.

Since its creation in 1996, Gombe State has maintained a working relationship with SAA, funded by The Nippon Foundation, to implement initiatives that improve food security, nutrition, climate resilience, and inclusive agricultural services, with particular attention to women, youth, and resource-poor farmers.

Speaking ahead of the workshop, Dr. Godwin Atser, Country Director of SAA Nigeria, said:
“This recognition celebrates a partnership backed by action. Governor Inuwa Yahaya’s leadership reflects the kind of subnational commitment essential for transforming agriculture in Nigeria.

Gombe State’s sustained support for farmer-focused interventions demonstrates what can be achieved when political will, institutional alignment, and practical investment converge.”

SAA Nigeria’s collaboration with Gombe State encompasses a wide range of interventions, including Farmer Learning Platforms (FLP), Community Savings and Investment in Agriculture (CSIA), Private Extension Service Provision (PESP), and Community-Based Seed Multiplication (CBSM), among others. Together, these initiatives strengthen the agricultural ecosystem from production to post harvest, improve access to technology, knowledge, and markets, and enhance the capacities of farmers and rural actors.

The partnership also encourages pluralistic extension systems, involving the private sector, farmer organizations, research institutions, and civil society in scaling agricultural services across the state. This multi-dimensional cooperation underscores why Gombe State’s collaboration is deserving of recognition.

As SAA marks 40 years of operations in Africa and 33 years in Nigeria, the organization notes that sustainable agricultural transformation requires long-term commitment, collaboration, and strategic investment, qualities exemplified by Gombe State and Governor Inuwa Yahaya.

The recognition will be part of a broader conversation at the 2026 Annual Stakeholders Workshop, which will review SAA’s 2021–2025 achievements, share lessons, and explore future partnerships to strengthen agriculture in Nigeria and across Africa.

About Sasakawa Africa Association (SAA)
Sasakawa Africa Association (SAA) was established in 1986 by Japanese philanthropist Ryoichi Sasakawa, Nobel Laureate Dr. Norman Borlaug, and former U.S. President Jimmy Carter.

Dedicated to improving the productivity, profitability, and resilience of smallholder farmers in sub-Saharan Africa, SAA operates through agricultural extension, capacity building, and systems strengthening. Active in Nigeria since 1993, SAA collaborates with governments, research institutions, universities, private sector actors, and development partners to advance farmer-centered agricultural transformation.

Agriculture partnership: Gov Yahaya to get Sasakawa’s Special Award

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JNIM terrorists clashes with rival factions in rare encounter in Nigeria’s Kebbi state

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JNIM terrorists clashes with rival factions in rare encounter in Nigeria’s Kebbi state

By: Zagazola Makama

A suspected clash between rival terrorists factions has been reported in Kebbi State, raising fresh security concerns in the North-West region.

Sources said the incident occurred on April 4, when a group identified as Jama’at Nusrat al-Islam wal-Muslimin (JNIM) claimed it engaged a rival faction described as “Khawarij”.

The group alleged that one fighter was killed and another captured during the encounter, while three motorcycles and about N10 million were recovered.

However, the identity of the opposing group has yet to be independently verified.

Preliminary indications suggest the rival faction may be linked to Boko Haram or one of its splinter groups, though this remains subject to confirmation.

Security sources said the development could represent one of the first reported inter-jihadist clashes in the region.

JNIM terrorists clashes with rival factions in rare encounter in Nigeria’s Kebbi state

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Troops foil mob attack, rescue suspected terrorist in Danmusa in Katsina

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Troops foil mob attack, rescue suspected terrorist in Danmusa in Katsina

By: Zagazola Makama

Troops of 17 Brigade have foiled an attempt by a mob to lynch a suspected terrorist and burn down a police station in Danmusa Local Government Area of Katsina State.

Security sources said the incident occurred at about 4:30 p.m. on April 5, 2026, when troops deployed at Combat Team 1 in Danali village responded to a distress call from a Nigerian Police outpost in the area.

The police had reported that a large crowd attempted to set the station ablaze and attack personnel after a suspected terrorist was brought into custody.

Troops were immediately mobilised to the scene and successfully prevented further escalation of the situation, restoring order in the area.

During the intervention, police personnel reportedly fired tear gas to disperse the irate crowd, which led to injuries sustained by one civilian.

The injured victim was evacuated to a medical facility for treatment.

Security sources said calm had since returned to the area, while troops continued to maintain presence to prevent a resurgence of violence and ensure stability.

Troops foil mob attack, rescue suspected terrorist in Danmusa in Katsina

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