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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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KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

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KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

By: Michael Mike

The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has commended Yobe State Governor, Mai Mala Buni, for what it described as visionary leadership that has significantly improved job creation, food security, and overall wellbeing of citizens in the state.

In a statement signed by its National President, Khalil Mohammed Bello, the association said the desire of any society is to have a leader who prioritizes the welfare, security, and long-term prosperity of the people, noting that Governor Buni embodies such qualities.

KACRAN praised the governor’s humility and accessibility, describing him as a leader who maintains close contact with citizens to better understand their needs and challenges. According to the association, this people-oriented approach has contributed to sustained peace and unity in Yobe State.

Highlighting key achievements, the group noted that Buni’s administration has consistently invested heavily in agriculture by procuring and distributing farm inputs to farmers at subsidized rates. This, it said, has boosted food production and strengthened food security not only in Yobe but across neighboring states.

The association also lauded the establishment of a dedicated Ministry of Livestock, which it said has reinforced Yobe’s position as a leading livestock hub in Nigeria. It added that the construction of modern markets across major towns has further enhanced commercial activities within the state.

On human capital development, KACRAN pointed to the award of scholarships to thousands of students for studies within and outside Nigeria, as well as the construction and rehabilitation of roads, bridges, and other infrastructure to improve connectivity between rural and urban areas.

The group further commended the governor for creating employment opportunities through recruitment into the civil service and various empowerment programmes targeting youths and women.

KACRAN also acknowledged the efforts of the Yobe State Emergency Management Agency (SEMA), led by Mohammed Goje, in providing relief materials to internally displaced persons and vulnerable populations affected by insurgency, floods, and other disasters.

It noted that during the ongoing Ramadan, the state government has intensified food distribution initiatives, ensuring that thousands of households receive daily support as part of broader measures to cushion economic hardship.

While stressing the importance of proactive governance, KACRAN urged other state governments and the Federal Capital Territory to emulate Yobe’s approach to investing in agriculture, human development, and security in order to avert potential food crises and improve living standards nationwide.

The association concluded that sustained commitment to these priorities would promote peace, unity, and long-term stability across the country.

KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

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CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

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CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

By: Zagazola Makama

The Chief of Defence Staff (CDS), Gen. Olufemi Oluyede, has raised fresh concerns over internal complicity in the protracted insurgency in the North-East, urging residents of Borno and Yobe to take ownership of the fight against terrorism.

Oluyede’s position, articulated after a high-level security meeting in Maiduguri, signals a strategic shift in emphasis from purely kinetic military operations to community-driven counterinsurgency, as Nigeria battles the enduring threat posed by Boko Haram and the Islamic State West Africa Province.

The meeting, which lasted about four hours, brought together top military commanders, including the Chief of Army Staff, Lt.-Gen. Waidi Shuaibu, the Theatre Commander of Operation Hadin Kai, Maj.-Gen. Abdulsalam Abubakar and other top military officials.

At the heart of the CDS’s message is a troubling reality: the insurgency is being sustained, in part, by individuals that sometimes embedded within affected communities.

According to Oluyede, intelligence reports indicate that many of those responsible for attacks over the past 15 years originate from the same communities bearing the brunt of the violence.

This assertion reinforces long-standing concerns within security circles that local knowledge terrain familiarity, social networks, and community cover has continued to provide operational advantages to insurgents.

He cited a recent example in Kukawa, where troops discovered wounded terrorists hiding within the community during post-attack clearance operations, pointing to the challenge of distinguishing between civilians and collaborators.

The dynamics complicate military efforts, as insurgents exploit familial and social ties to evade detection, making intelligence gathering more difficult despite sustained offensives.

The CDS’s call for residents to “take ownership” reflects a recognition that military القوة alone cannot decisively end the insurgency without active civilian cooperation.

Oluyede’s remarks suggest a push to recalibrate this dynamic by encouraging residents to see the fight as a collective responsibility rather than solely a government burden.

The CDS also acknowledged the evolving tactics of insurgents, particularly the increasing use of drones and other technological in attacks.

Oluyede disclosed that the Nigerian military is adapting, including the deployment of advanced drone systems to enhance surveillance, targeting, and battlefield coordination.

CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

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FG Pushes for Correctional Reform via Public-Private Partnership

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Dr Magdalene Ajani, Permanent Secretary of Interior, (center), CG Nigerian Correctional Service (NCOS) Sylvester Nwakuche, Mni. (R) and Executive Director of Hope Behind Bars Africa, Funke Adeoye (L).

FG Pushes for Correctional Reform via Public-Private Partnership

By: Michael Mike

The Federal Government has reaffirmed its commitment to transforming Nigeria’s correctional system into a hub of rehabilitation, skills development, and national productivity through strategic Public-Private Partnerships (PPPs).

The pledge was highlighted at a stakeholders’ engagement on optimizing correctional farm centres, industries, and PPP opportunities, organized by the Ministry of Interior in collaboration with civil society and development partners.

Representing the Honourable Minister of Interior, Dr. Olubunmi Tunji-Ojo, Permanent Secretary Dr. Magdalene Ajani stated that modern correctional facilities must focus not only on confinement but also on equipping inmates with practical skills for reintegration into society. “Correctional centres must evolve into institutions of transformation—where inmates are prepared to become productive members of society upon release,” she said.

Ajani emphasized the importance of PPPs in achieving this vision, describing them as critical tools for combining government oversight with private sector expertise, innovation, and investment. She added that correctional farm centres and industries could become centres of excellence in agriculture, agro-processing, and value-chain development, contributing to both inmate rehabilitation and national food security.

The Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, disclosed that the Service currently operates 18 farm centres and 10 cottage industries nationwide, spanning crop production, livestock, fisheries, and poultry.

He noted that collaboration with the private sector would boost productivity, introduce modern techniques, and create sustainable value chains.

Stakeholders, including representatives from government, civil society, development organisations, and the private sector, agreed on the need for actionable and scalable models to drive tangible impact.

On his part, the Chairman of the House Committee on Reformatory Institutions Hon. Chinedu Ogah, called for greater accountability, innovation, and commitment in optimizing correctional farms, noting that agriculture remains a critical driver of economic growth and national security.

The engagement aligns with President Bola Ahmed Tinubu’s administration’s broader reform agenda, which prioritizes institutional strengthening, economic productivity, and sustainable development. Participants were urged to leverage partnerships that transform correctional facilities into engines of productivity, reduce recidivism, and enhance community safety.

The Ministry of Interior reiterated that the success of correctional reform depends on collective action, sustained investment, and a shared commitment to building a humane and development-oriented correctional system.

FG Pushes for Correctional Reform via Public-Private Partnership

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