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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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Borno Adopts Gubio as APC Consensus Governorship Candidate
Borno Adopts Gubio as APC Consensus Governorship Candidate
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, on Thursday, presented Engr. Mustafa Gubio, the APC Governorship consensus candidate to Vice President, Senator Kashim Shettima, at the Presidential Villa, Abuja.
Governor Zulum, who described the emergence of the candidate as the outcome of extensive consultations across party stakeholders.

According to Zulum, the decision reflects a unified position within the party in the state. He commended President Bola Ahmed Tinubu for what he described as “strategic leadership, support and guidance” to both the government and the APC.
“I wish to express my profound gratitude to President Bola Ahmed Tinubu for the leadership he is providing in the country and for the enormous support to Borno State as well as the APC, which has been unprecedented,” the governor said.
“ I would also like to commend the President, who has been instrumental in the emergence of Gubio as the consensus candidate.
Zulum also acknowledged the Vice President’s support in strengthening party cohesion in the state and for his support of the consensus candidate.

He further appreciated the APC leadership at all levels, party stakeholders, and the state’s residents for their support, prayers, and steadfastness, which he said paved the way for Gubio’s emergence.
The governor had earlier unveiled Engr. Mustapha Gubio as his preferred successor on Monday after purchasing the party’s Nomination and Expression of Interest forms for the 2027 governorship election under the APC platform.

Those in attendance during the presentation of the consensus candidate include former Governor, Senator Maina Ma’aji Lawan; Deputy Governor, Hon. Umar Usman Kadafur; APC Deputy National Chairman, Hon. Ali Bukar Dalori; Senators Mohanmed Tahir Monguno; Mohamed Ali Ndume and Kaka Shehu Lawan SAN, Speaker Borno State House of Assembly; Hon Abdulkarim Lawan; Minister of Agriculture, Hon Abubakar Kyari and Hon. Abdulkadir Rahis.
Borno Adopts Gubio as APC Consensus Governorship Candidate
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No Badge Should Become a License to Kill — NHRC Condemns Alleged Extrajudicial Killing in Delta
No Badge Should Become a License to Kill — NHRC Condemns Alleged Extrajudicial Killing in Delta
By: Michael Mike
The National Human Rights Commission (NHRC) has issued a strong condemnation of the alleged extrajudicial killing of a 28-year-old Nigerian, Mene Ogidi, reportedly shot by a police officer in Effurun, warning that the authority of law enforcement must never be abused to take lives unlawfully.
In a statement released in Abuja, the Executive Secretary of the Commission, Tony Ojukwu, described the April 26 incident as “deeply disturbing” and a direct violation of constitutional guarantees and the rule of law.
He stressed that no citizen should lose their life at the hands of those entrusted with their protection, noting that the reported conduct of the officer involved was “condemnable, unacceptable, and completely inconsistent with the principles of justice and a civilized society.”
The NHRC boss raised alarm over what he termed a troubling pattern of excessive force by security personnel, urging the Nigeria Police to take immediate and decisive action to curb the trend.
He called for systemic reforms, including mandatory periodic psychological and mental fitness evaluations for officers, particularly those deployed on special assignments, to ensure they are capable of handling firearms responsibly and engaging civilians within the bounds of the law.
Ojukwu further demanded swift disciplinary measures against the officer implicated in the incident, insisting that accountability must be pursued in line with existing laws and police regulations. He also pressed for the full implementation of recommendations from past panels on police brutality, arguing that meaningful reform remains critical to preventing future abuses.
“The Commission demands immediate arrest and a transparent investigation into the incident, dismissal of the officer involved, and swift prosecution in accordance with the law,” he said, adding that justice must also include adequate compensation for the victim’s family.
He warned that delays in justice risk eroding public trust in state institutions and weakening confidence in law enforcement agencies.
Reaffirming the Commission’s commitment to human rights protection, Ojukwu said the NHRC would closely monitor the case while continuing its advocacy for accountability and justice.
“Nigeria must never normalize brutality,” he said. “Justice must speak louder than silence.”
No Badge Should Become a License to Kill — NHRC Condemns Alleged Extrajudicial Killing in Delta
News
Bangladesh Seeks Deeper Strategic Ties with Nigeria
Bangladesh Seeks Deeper Strategic Ties with Nigeria
By: Michael Mike
The High Commissioner of Bangladesh to Nigeria has reaffirmed the commitment of both countries to deepen bilateral relations, describing Bangladesh and Nigeria as natural partners bound by shared aspirations for development, cultural understanding, and global cooperation.
Speaking at the Bangla New Year 1433 celebration in Abuja, the High Commissioner, Miah Md. Mainul Kabir, emphasized that although geographically distant, Bangladesh and Nigeria share strong historical and developmental parallels as populous, dynamic, and rapidly evolving economies in their respective regions.
He noted that the relationship between both countries has continued to expand steadily in recent years, particularly in areas of trade, education, capacity building, and cultural exchange.
According to him, there remains significant untapped potential for collaboration in sectors such as agriculture, pharmaceuticals, energy, ICT, and human capital development.
The High Commissioner stressed that cultural diplomacy remains a vital bridge in strengthening bilateral relations, adding that events such as the Bangla New Year celebration in Abuja provide an important platform for fostering mutual understanding between the peoples of both nations. He described such engagements as essential tools for building trust and expanding cooperation beyond formal diplomatic channels.
He further underscored the importance of people-to-people connections, noting that the Bangladeshi community in Nigeria plays a key role in reinforcing goodwill and serving as informal ambassadors of their country. He commended their contribution to Nigeria’s socio-economic environment while also preserving cultural identity abroad.

Reiterating Bangladesh’s interest in stronger engagement with Nigeria, the High Commissioner said both countries stand to benefit from enhanced cooperation in trade diversification, knowledge exchange, and investment partnerships. He expressed optimism that continued dialogue and cultural interaction would translate into more structured bilateral initiatives in the near future.
He described the celebration of the Bangla New Year in Abuja as a reflection of the growing warmth in bilateral relations and a symbol of shared commitment to friendship and mutual progress between Bangladesh and Nigeria.
The event was arranged by the High Commission of Bangladesh in Abuja. And present were Ambassadors, members of diplomatic corps, senior officials of the Ministry of Foreign Affairs, representatives of think tanks, media, business community of Nigeria and expatriate Bangladeshis. The venue was colourfully decorated with traditional Bangladeshi artifacts, symbols of cultural heritage. Diversity of Bangladesh’s landscape in different seasons were put on display. A spectacular cultural performance by Bangladeshi and Nigerian artists displaying different aspects of the six seasons of Bangladesh charmed the audience. Traditional Bangladeshi food items including various pithas were served among the guests.
Bangladesh Seeks Deeper Strategic Ties with Nigeria
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