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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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Troops recover suspected stolen motorcycle in Plateau

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Troops recover suspected stolen motorcycle in Plateau

By: Zagazola Makama

Troops of Sector 6, Operation Enduring Peace have recovered a suspected stolen motorcycle following a pursuit of suspected motorcycle snatchers in Riyom Local Government Area of Plateau.

Security sources disclosed that the incident occurred at about 6:30 p.m. on May 21 along the Bachi-Banghai road after troops received reports on the activities of suspected motorcycle snatchers in the area.

The sources said the troops immediately mobilised and pursued the suspects, who abandoned the motorcycle and fled upon sighting the security personnel.

According to the sources, the recovered motorcycle has been secured, while efforts were ongoing to identify the rightful owner and apprehend the fleeing suspects.

The military said the operation formed part of sustained efforts to combat criminal activities and enhance security across Plateau.

Troops recover suspected stolen motorcycle in Plateau

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Troops launch rescue operation after abduction in Plateau

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Troops launch rescue operation after abduction in Plateau

By: Zagazola Makama

Troops of Sector 1, Operation Enduring Peace have launched a rescue operation following the abduction of a resident in Bassa Local Government Area of Plateau.

Security sources disclosed that the incident occurred at about 11:00 p.m. on May 21 when gunmen reportedly abducted Mr Eze Emeka from his residence at Agingi village.

The sources said troops swiftly responded to the distress report and commenced rescue operations in collaboration with other security agencies.

According to the sources, efforts were ongoing to track down the kidnappers and secure the safe release of the victim.

The military assured residents that security forces were intensifying operations to curb criminal activities in the area.

Troops launch rescue operation after abduction in Plateau

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JNIM attack in Tillaberi signals deepening jihadist rivalry and expanding Sahel instability

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JNIM attack in Tillaberi signals deepening jihadist rivalry and expanding Sahel instability

By: Zagazola Makama

The reported deadly attack on a Nigerien Army engineering unit near Garbougna in the Tillaberi Region marks a significant escalation in the evolving security dynamics of western Niger and the wider Sahel.

With an estimated 67 soldiers and civilians reportedly killed and a military camp destroyed, the incident underscores both the intensity and increasing sophistication of militant operations in the region.

Beyond the immediate casualties, the attack is notable for its attribution to Jama’at Nusrat al-Islam wal-Muslimin (JNIM), which swiftly claimed responsibility. Tillaberi have long been considered a stronghold of Islamic State in the Sahel (IS Sahel), suggesting a possible shift in operational influence or encroachment into contested territory.

The incident reflects an emerging pattern of geographic diffusion of jihadist violence across the Tera–Niamey corridor, an axis that has repeatedly come under pressure from armed groups. The corridor connects several vulnerable departments, including Tera, Torodi, Say and Ayorou, all of which have experienced repeated attacks in recent years.

The Garbougna attack also fits into a broader sequence of high-casualty operations across Niger since early 2026, including reported strikes near Niamey airport in January and Makalondi in February. These incidents collectively indicate sustained pressure on Nigerien security forces and an expanding operational reach of armed groups closer to strategic population centres.

Of particular concern is the apparent intensification of competition between IS Sahel and JNIM. While both groups have historically operated in overlapping zones, recent claims of responsibility and counter-claims suggest a more overt struggle for influence, recruitment, and territorial control. The reported clash between the two factions near Petel Kole earlier in the year further supports this assessment.

The implications of this rivalry are significant. Rather than reducing violence through competition, the fragmentation of jihadist groups in the Sahel has in some cases resulted in increased attacks, as factions seek to demonstrate operational strength and legitimacy.

At the same time, the weakening of state presence in rural and border communities is compounding the crisis. Reports of closed schools, non-functional health facilities, and inactive markets point to a gradual erosion of governance structures in affected areas. This vacuum continues to facilitate militant mobility and recruitment.

Another critical dimension is the increasing use of improvised explosive devices (IEDs), which has reportedly hindered post-attack clearance operations in the Garbougna area. Such tactics not only slow military response but also expand the risk zone for civilians and security forces alike.

Strategically, Tillaberi remains the epicentre of Niger’s insecurity challenges, given its proximity to the Mali and Burkina Faso border regions. The corridor’s proximity to Niamey raises additional concerns, particularly regarding potential spillover effects into the capital’s security perimeter.

The Garbougna attack, therefore, illustrates a convergence of three destabilising trends: escalating casualty levels, intensified jihadist competition, and shrinking state control in border regions. Taken together, these dynamics suggest a deteriorating security outlook for western Niger, with implications that extend beyond national boundaries into the wider Sahel security architecture.

JNIM attack in Tillaberi signals deepening jihadist rivalry and expanding Sahel instability

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