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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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What Niamey’s Airport attack means for Niger, West Africa and Sahel
What Niamey’s Airport attack means for Niger, West Africa and Sahel
By: Zagazola Makama
Niamey woke up in the morning of Thursday to disturbing reports of heavy gunfire and explosions around the airport zone an area that hosts Niger’s air force base, the headquarters of the joint Sahel force with Mali and Burkina Faso, and a strategic stockpile of uranium.
For nearly two hours, residents heard detonations, saw flashes in the sky resembling anti-aircraft fire, and reported buildings and vehicles in flames. Calm has since returned, but clarity has not.
At the time of writing, no official statement has fully explained what happened. No group has claimed responsibility. And while authorities insist the situation is under control, the silence leaves space for speculation in a region already on edge.
The location alone makes the event highly sensitive. The Niamey airport zone is not an ordinary district. It is the nerve centre of Niger’s air power and regional military coordination. It also hosts uranium stocks, a strategic resource with both national and international implications.
Any shooting in this area automatically raises three big questions: Was this an external attack, an internal security incident, or a mutiny? Some sources suggest the firing may have come from inside the base, which points to the possibility of an internal breach or unrest. If true, this would indicate deep cracks within Niger’s security architecture.
Was a strategic asset targeted? Even if the uranium was not hit, the fact that fighting occurred near such a site elevates the risk level for Niger and its partners. What does this say about control under the current junta? Since Gen. Abdourahamane Tiani took power, Niger has continued to lose it grip on issues of national security. An incident of this scale in the capital challenges that narrative.
For Nigeria, the situation in Niger is not remote. The two countries share a long, porous border, strong trade ties, and deep security interdependence. If Niger’s capital can experience hours of unexplained gunfire around its most sensitive installations, then cross-border insecurity risks increase. Any weakening of control in Niamey could embolden armed groups across the Sahel, including those operating near Nigeria’s northern frontier.
The Sahel’s security architecture looks more fragile. Niger, Mali and Burkina Faso have positioned themselves as a new security bloc after breaking with ECOWAS. Incidents like this brings to the fore about how cohesive and effective that bloc really is. Strategic resources become geopolitical flashpoints. Uranium is not just a Nigerien issue; it has global implications. Any instability around such assets invites international concern and possible pressure.
There is no confirmed evidence yet of a foreign attack, a coup attempt, or a direct operation against uranium. So panic would be premature.
But silence is just as dangerous. In security matters, the absence of clear communication feeds rumours, conspiracy theories and political manipulation. In the Sahel’s volatile environment, that can quickly become destabilising.
What Niamey’s Airport attack means for Niger, West Africa and Sahel
News
Mysterious attack rocks Niger Air Base in Niamey, raises fears of mutiny
Mysterious attack rocks Niger Air Base in Niamey, raises fears of mutiny
By: Zagazola Makama
A major security breach has hit Niger’s capital, Niamey, following a midnight attack on Air Base 101, damaging key military assets and deepening concerns about instability under the junta led by Gen. Abdourahamane Tchiani.
Multiple security sources said explosions were heard around 12:00 a.m. on Wednesday at the strategic air base located near the Diori Hamani International Airport.
The attack reportedly destroyed or disabled several aerial assets, including drones and fixed-wing aircraft, and severely damaged the Unified Force Command Centre.
Four civilian aircraft on the tarmac, including one operated by ASKY Airlines, were also affected, though no passengers were onboard at the time.
Sources said two trucks transporting uranium materials within the base perimeter were hit, but their cargo remained intact, averting a potentially larger disaster.
There were confirmed casualties, with ambulances seen moving in and out of the base area through the night. Some of the attackers were reportedly killed, while others were arrested and taken into custody by Niger’s intelligence services.
However, the identity of those behind the assault remains unclear.
While early speculation pointed to jihadist involvement, no armed group has claimed responsibility. Other security sources told Zagazola that the operation appeared to have been launched from inside the air base, suggesting a possible mutiny rather than an external terrorist strike.
“The pattern of the attack and access to sensitive areas strongly indicate insider involvement,” one regional security analyst said.
The incident has intensified fears that Gen. Tchiani is losing control over key institutions, especially the military, raising serious implications for Niger’s stability and for neighbouring countries, including Nigeria.
Niger plays a critical role in regional security in the Sahel, and any further breakdown of command and control could create new risks for border states already battling terrorism and banditry.
As of the time of filing this report, Niger’s authorities had yet to issue an official statement on the incident.
Mysterious attack rocks Niger Air Base in Niamey, raises fears of mutiny
News
Alleged terrorism: Rescued victims filed complaints against Tukur Mamu- DSS Witness
Alleged terrorism: Rescued victims filed complaints against Tukur Mamu- DSS Witness
A Department of State Services (DSS)’ investigator, on Thursday, told the Federal High Court in Abuja that many of the rescued victims of the 2022 Abuja-Kaduna bound train attack lodged complaints in their office against alleged terrorist negotiator, Tukur Mamu.
The DSS operative, who testified as 6th prosecution witness (PW-6) in the ongoing terrorism trial of Mamu, made the disclosure to Justice Mohammed Umar while being cross-examined by the defence counsel, Johnson Usman, SAN.
The lawyer had asked the witness, who gave his testimony behind a witness screen for security reasons, “to confirm to court if any of the rescue victims, including the wife of the Commandant in Jaji, made any complaint against the defendant to the DSS.”
Responding, the witness said: “Yes, my lord.”
When Usman further asked the witness if the complaint by the rescued victims was either in writing or oral, he said it was in writing.
The DSS’ lawyer, David Kaswe, however, prayed the court to restrain Usman from delving into questions that might touch on the identity of victims or witnesses in the case since the court had granted protection to all.
Responding, Usman told the court that none of the names he called was a witness before the court.
“Even though my lord has granted an order for trial in camera, a trial in camera is not to prejudice the defendant,” he said.
The witness said he interviewed six victims in the course of the investigation.
When he was asked if the six victims were interviewed in the presence of Mamu, the PW-6 responded in the negative.
The witness told the court that he was not a vocologist, having not studied sound in higher institution.
He, however, confirmed that the audio exhibit tendered by the prosecution was the extract of the transcribed audio between Mamu and the terrorists.
When he was asked if he interviewed a former Chief of Defence Staff, General Lucky Irabor (retd.), he said the army chief was not interviewed.
The witness, however, admitted that General Abdulkadir Abubakar was interviewed in the course of investigation.
“When you interviewed him, was it in the presence of the defendant?” the lawyer asked and he said: “No my lord.”
“Did you interview Sheikh Gumi?” Usman asked and the witness responded in the affirmative.
“Was it in the presence of the defendant?” Usman asked.
“No my lord,” the witness responded.
“Did you interview Major General Idris Garba?”
“No my lord,” the PW-6 said.
“Did you interview General Jalingo?” the lawyer asked, and he said: “Yes, my lord.”
The witness said General Jalingo was not interviewed in Mamu’s presence.
“Finally, did you interviewed Hannafi of Defence Military Intelligence,” the lawyer asked and the witness responded in the negative.
“Confirm to court, whether at any time in the course of your investigation, you brought members of the Chief of Defence Staff (CDS) Committee for interview in the presence of the defendant,” Usman asked and the witness responded in the negative.
“Please confirm whether you are aware that the defendant has requested that you brought members of the CDS Committee face to face with him for interview,” the lawyer asked and the witness said: “Yes, he did.”
“Confirm whether the request of the defendant to have the CDS and others involved gathered together for interrogation was granted,” Usman asked, and the witness said:”No, my lord.”
When Usman asked the witness to confirm that Mamu told him that he is a publisher of a newspaper and magazine, the witness said: “Yes, he said so.”
When the lawyer asked the witness to confirm that Mamu told him his means of income was derived from his journalism business, the PW-6 said: “Yes, he claimed “
“As investigator, did you investigate this claim,” the lawyer asked.
“Yes, we did,” he responded.
After the cross-examination, Kaswe told the court the prosecution’s intention to close its case.
“So that we can allow the defendant to enter his defence if they are ready,” he said.
But Usman told the court that they would rather apply for a date to open their defence, .
“We will not file a no-case submission so that the world can see it and God can see it all,” he said.
Justice Umar adjourned the matter until April 23 for Mamu to open his defence.
Alleged terrorism: Rescued victims filed complaints against Tukur Mamu- DSS Witness
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