News
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
Crime
ISSP Establishes Cross-Border Corridor Linking Mali to Lake Chad Axis, Claims Lakurawa Group As its Operational Wing

ISSP Establishes Cross-Border Corridor Linking Mali to Lake Chad Axis, Claims Lakurawa Group As its Operational Wing
By: Zagazola Makama
The Islamic State in the Sahel Province (ISSP) has officially recognized the Lakurawa Group as its clandestine operational wing, formalizing a strategic corridor between its two major factions EIGS (Islamic State in the Greater Sahara) operating in Mali, Burkina Faso and Niger, and ISWAP (Islamic State West Africa Province) active around Lake Chad.
The announcement, made in the wake of two deadly attacks on May 4 in Niger, marks a significant shift in the regional security landscape. On that day, armed militants attacked Dogonkiria in Dosso region, killing at least 30 security force personnel, and Danga in Tillabéri region, where six volunteer fighters for the defense of the homeland (VDPs) were slain.
Zagazola Makama believes the operational link now established between the Sarma Forest in Nigeria and Anderamboukane in Mali via central Niger will enable increased mobility for fighters, arms trafficking, intelligence sharing, and hostage transfers. This corridor, long suspected by observers, has now been confirmed as a key axis for extremist logistics.
Sources say the emergence of ISSP reflects a new phase in Islamic State operations in the region, marked by greater coordination, territorial fluidity, and strategic exploitation of Niger’s governance and airspace gaps particularly since the withdrawal or downsizing of key international security partners.
Zagazola reports that the central strip of Niger already marked by repeated attacks, pipeline sabotage, and mass civilian casualties is increasingly falling under the shadow of ISSP. Many of these incidents had previously gone unclaimed but are now attributed to the group’s covert campaign to secure this critical transit route.
Zagazola warn that if the current trend continues unchecked, the entire security architecture of West Africa may be destabilized, with spillover effects extending beyond the Sahel to Nigeria.
He called for renewed multilateral cooperation and intelligence-sharing, transcending political divisions and post-coup dynamics.
In recent months, Zagazola had raised alarm over the quiet expansion of Lakurawa, cautioning that the group was a proxy for EIGS. The confirmation by ISSP now validates those concerns, signaling an urgent need for proactive counterterrorism measures and regional solidarity.
ISSP Establishes Cross-Border Corridor Linking Mali to Lake Chad Axis, Claims Lakurawa Group As its Operational Wing
News
Naval rating, civilian arrested for assaulting Police officers in ogun

Naval rating, civilian arrested for assaulting Police officers in ogun
By: Zagazola Makama
The Ogun State Police Command has arrested a serving naval rating and one civilian for allegedly assaulting police officers and unlawfully possessing military accoutrements during an incident in Ifo Local Government Area of the state.
Police sources told Zagazola Makama that the incident occurred on May 3, 2025, at about 10:30 a.m. when a police surveillance team enforcing the Inspector-General of Police’s directive on third-party motor insurance intercepted a Toyota Camry with registration number GGE 242 EE along Alamenda–Sojolu Road, Ifo.
The driver, identified as Oladipo Damilola, was unable to provide vehicle particulars, prompting the officers to conduct a search of the car. During the search, the police recovered several military accoutrements, including a naval belt, military cap, and a naval vehicle sticker.
Following the recovery, the vehicle was taken to the police station for further investigation. The driver told the police that the vehicle and the military items belonged to his uncle, Oladipo Adeniyi, a naval rating serving at the Nigerian Navy College of Accountancy and Finance, Owerrinta, Abia State.
After the police intervened, Damilola was released while the military accoutrements were retained, pending the arrival of the claimed owner.
On May 9, 2025, at about 4:30 p.m., Oladipo Adeniyi arrived at the station in company of Oladipo Damilola and another civilian, identified as Popoola Adegoke.
Upon arrival, the naval rating allegedly became aggressive and demanded to know which officer had the “effrontery” to impound his vehicle. According to police reports, he and his civilian accomplice were both heavily intoxicated and refused attempts by officers to calm the situation.
In the process, they allegedly assaulted Inspector Osungboye Olanike (female), Inspector Onwudinjor Sylvester, and Inspector Abdulkareem Andu, who is the Station Officer (S/O) at the Area Command, Ifo.
The two men were immediately overpowered and arrested. They were taken before the Area Commander, Assistant Commissioner of Police, Ifo Area Command, who ordered their detention and directed the commencement of a thorough investigation.
The Divisional Police Officer later contacted the Regulating Officer of the Nigerian Navy College of Accountancy and Finance, Owerrinta, Lt. Peter Ogbe, who confirmed that Oladipo Adeniyi is indeed a naval personnel currently on four days’ compassionate leave, having reported the death of his father to the school authorities.
The police said the civilian suspects would be charged to court upon completion of investigations, while the naval rating would be handed over to naval authorities for disciplinary action.
Naval rating, civilian arrested for assaulting Police officers in ogun
Crime
NDLEA officer arrested for attempted armed robbery, shooting bolt driver in Abuja

NDLEA officer arrested for attempted armed robbery, shooting bolt driver in Abuja
By: Zagazola Makama
The Federal Capital Territory (FCT) Police Command has arrested a serving officer of the National Drug Law Enforcement Agency (NDLEA) for attempted armed robbery and shooting a Bolt driver in Abuja.
Police sources told Zagazola Makama that the incident occurred in the early hours of May 9 at about 12:10 a.m., when a distress call was received from City View Estate in the Galadimawa area reporting an armed robbery attempt.
The sources said that the suspect, identified as Felix Emmanuel, an Inspector with the NDLEA FCT Command, allegedly attempted to rob and hijack a Toyota Corolla with registration number KWL 736 SZ from a Bolt driver, Mr Israel Emeka, while the vehicle was in motion.
During the struggle, the suspect reportedly shot the driver with a locally fabricated pistol. The victim was rushed to the Federal Medical Centre (FMC), Jabi, where he is currently receiving treatment.
According to the police sources, its operatives from Galadimawa Division, led by the Divisional Police Officer (DPO), swiftly responded to the distress call and arrested the suspect at the scene.
A locally made pistol and two live cartridges were recovered from him.
NDLEA officer arrested for attempted armed robbery, shooting bolt driver in Abuja
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