Business & Economy
Ways and Means: Senate blames CBN for frustrating its efforts

The Senate Ad-hoc Committee investigating Ways and Means facility granted to the federal government between 2015 to 2023 has taken a swipe at the Central Bank of Nigeria for frustrating its efforts to uncover how the loans were spent.
Speaking after receiving an interim report from its consultants at meeting on Tuesday, Chairman of the committee, Senator Isah Jibrin said the Central Bank of Nigeria has refused to make relevant documents available to the consultants to enable them complete their assignment.
Although the representative of the CBN, Mallam Hamisu Abdullahi, Director of Banking Services tried vehemently to say the apex bank provided all the documents requested, the chairman said the facts are different.
“None of the documents was submitted to us” adding that “as it is, we will not allow you to attend the next meeting because you have been coming here for the same reason. The least person that will attend the next meeting should be a deputy governor of CBN.
Speaking further, Senator Jibrin said “What you are telling us is not the truth. We have not received the documents. I don’t want to deceive the public here”
The Kogi East senator said the aim of the assignment being entrusted to the committee by the Senate President for them to come up with a report within the shortest possible time was being frustrated by CBN action.
“The information we have here is not different from what we have heard all along. What we did was to hand over the documents to the consultants, and when the consultants made available to us this interim report, our intention was to hold onto the interim report on the final report.
“But we’ve been compelled to make available this interim report to the general public so that they know that we let them know where the problem is, and the problem is that the Central Bank of Nigeria has denied us consistently the documents that we need to complete this assignment. That is the truth.
II was at the CBN sometimes, I met Bala the deputy governor. And they promises but nothing came out of it. The clerk has been there several times. Nothing has come out of it. The consultants themselves even took it upon themselves to go with CBN directly, because we introduced them to CBN and nothing has come out of it.
“So let the Nigerian public know that this assignment has been hindered by the Central Bank of Nigeria. They will deny those documents. After this, you must avail us, or avail the consultants, all the documents that they require to complete this assignment.
“The reason for this meeting is to let everybody know why we have not been able to finish this assignment. Because it looks as if we have compromised. And the answer is that we have not. It looks like we have compromised. I just want to say that we are going to sleep. That is not the case. This is a major assignment that God has for everybody. We want to know how these monies were utilized. Okay? We want to know how these monies were utilized.
“Preliminary reports show that there are major, major infractions, especially on the part of the Central Bank of Nigeria. We want to defend that. We need all the documents without exception. Whatever documents the consultants need to ensure that this job is completed efficiently and as soon as possible, you must provide.
“As it is, we don’t have a choice but to give them a time within which they must provide all the documents to the consultants.
You just have to make sure that the documents are sent to the consultants.
“We provided a schedule showing summary of ways and means taking direct ways and means and indirect ways and means. That folder was sent to an email provided by this committee. There was an email provided, we sent, we replied that email three times. And we can resend that document as we speak here. So we have responded, we are not aware of any document requested that we have not provided.
“If there is any document that is requested we have not provided, let us know. All the documents required are in that folder. So after the consultant reviews what is in that folder, if he needs additional documents, our expectation is that he should say one, two, three documents are not there to provide. We have provided it separately and we can provide that again”.
Business & Economy
Slaboh Lauds NCDMB For Skill Aquisition of Ex – Agitators, – Participants Extol Leadership Style of National Chairman Third phase,PAP

By David Owei,Bayelsa
The National Chairman of the Third phase Ex- Agitators of the presidential Amnesty program, PAP, General Elaye Dollar Slaboh had given kudos to the Management of the Nigerian Content and Monitoring Board ( NCDMB ) for the privilege it gave by selecting sixteen delegates to participate in the five day youth empowerment on high selling self reliance skill digital marketing and data analysis program organized for Niger Delta Youths, just as he pleaded for more of such programs for it’s members which he has been advocating as such trainings will go along way to augument their monthly stipends.
The initiative was held in collaboration with the leadership of the PAP under General Elaye Dollar Slaboh,which has equipped participants with valuable skills to navigate today’s digital economy.
An elated Slaboh, stated this while welcoming the beneficiaries to his office, at Azikoro and commended them for being worthy ambassadors that conducted themselves orderly without misbehaving and for their exemplary conduct throughout the duration of the training and urged them to put to use the knowledge they received.
According to him, during several engagements with corporate bodies he had always agitated for for the training and retraining of the ex – Agitators under his leadership and applauded NCDMB and called on other corporate bodies to emulate NCDMB in providing opportunities for Niger Delta Youths to enable them become self reliance and shun youth restiveness for peace to reign and attract investors to the region.
He appealed to those not selected to be patient as they would be opportune in subsequent training programs which his leadership assured them to provide whenever the opportunity beckons and also warned them against selling their starter pack ( laptobs)
” To those not selected , be patient, as there are other trainings in the offing , as everyone can’t benefit at the same time”
Am proud to say members represented us very well as there was no negative reports of misbehaviour and misconduct about you throughout the five day training”
Speaking in their separate interviews, the participants who were randomly selected by the National Chairman, third phase , presidential Amnesty program, General Elaye Dollar Slaboh, had applauded and commended his leadership style for considering them worthy to be Beneficiaries of the skill aquisition training on digital analysis and marketing .
According to Alex Gift, he said he felt excited and considered it a rare privilege to be randomly selected by the national Chairman , Third phase of PAP , General Elaye Dollar Slaboh and prayed to God to continue to enlarge his coast, saying the knowledge he received about digital marketing and data analysis will equip him to advance the ever changing digital economy.
And being , gender friendly, Miss Stella said the training and knowledge was impactful and has increased her horizon on digital marketing and data analysis.
” With this training am now opportune by the exposure that my products can now be marketed globally instead of within the Niger Delta region ”
She poured Ecomiums on General Elaye Dollar Slaboh, for giving her this rare opportunity and wished him well in his current leadership position.
Also speaking , another participant who was overwhelmed by the opportunity given to him to participate in the program, Sammy Vincent, said he was very happy for being selected for the NCDMB five day skill aquisition programe on digital and data analysis for the opportunity impacted in him on the knowledge about graphic design and the gift of laptobs.
From Tonbara. W. Bai” Am so elated and lacked words to thank the National Chairman Third phase of PAP, General Elaye Dollar Slaboh and may God to bless and enlarge his coast”
He said he will not take this opportunity for granted and applauded the NCDMB management for it’s efforts in empowerment of Niger Delta Youths in the region.
Business & Economy
Senate Approves Tinubu’s $21.5bn External Borrowing Plan

By George Mgbeleke
The Senate, on Tuesday approved an external borrowing plan of $21.5 billion for the 2025–2026 Medium Term Expenditure Framework (MTEF) designed to finance key projects in critical sectors including infrastructure, security, education, health, agriculture, and human capital development.
The Red chamber also approved a ¥15 billion Japanese loan, a €65 million grant, and additional domestic borrowing of ₦757 billion through federal bonds to offset pension arrears as of December 2023.The lawmakers further gave approval to an exec request to raise up to $2 billion through foreign-currency denominated instruments in the domestic market.
These approvals, which came on Tuesday, followed the presentation of a report by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Aliyu Wamakko (APC-Sokoto), at plenary. Wamakko said the loan request was in line with the already approved Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the 2025/2026 budget cycle. According to him, him, the committee recommended the approval, as the borrowing plan is within the framework already passed by the National Assembly.
Chairman, Senate Committee on Appropriation, Senator Solomon Adeola (APC-Ogun) while supporting the motion srated that the loans were embedded in the 2025 Appropriation Act, adding that with the approval, all revenue sources, including loans, were now in place to fund the budget.
Similarly. Chairman Senate Committee on Finance, Senator Sani Musa (APC-Niger) stressed that the loans would be disbursed over six years and assured that Nigeria was in a good position to utilise the loan and pay back as agreed with the creditors. Musa ruled out the fears in some quarters that Nigeria’s debt profile was becoming too burdensome, stressing that Nigeria had never defaulted on any of its liabilities.
However, Senator Abdul Ningi (PDP-Bauchi) raised concerns over the absence of repayment details and how the loans would directly impact constituents.
“We must tell Nigerians exactly how much is borrowed in their name and for what purpose,” Ningi said.
inclusiveness.
Business & Economy
N- Power : Senate Intervention rekindles hope for beneficiaries on outstanding N81billion Allowance

The Senate Tuesday rekindled the hope of beneficiaries of N- Power programme across the country on payment of outstanding N81billion monthly allowance by the Federal
Government.
Intervention of the Senate came through its Deputy President, Senator Barau Jibrin who brokered understanding between the Federal Government , aggrieved beneficiaries of the scheme who are still being owned 2022, 2023 monthly allowances totalling N81billion and their counsel, Barrister Abba Hikima .
After about two hours tripartite meeting in his office , the Deputy President of the Senate told journalists that the beneficiaries being owed months of unpaid allowances which were inherited by the current administration , have agreed to stop their intended litigation against the federal government .
He said : ” The beneficiaries came here to the Senate to seek for my intervention. And then I called the Minister, and the Minister was very responsive.
“He came on board, and there was a fruitful discussion that led for them to understand that the Minister had already gone very far in making preparation for the money to be paid.
“So having gotten convinced that there is a clear intention on the part of government to get the money paid they now decided to back down and stay action on the legal route to get the money paid and I showed them that this is a government that is responsive and really up and doing in terms of making sure that nobody suffers in terms of getting what is due to them in line with the renewed hope agenda of President Bola Tinubu .
“Though the problem is inherited but the present government as clearly stated and assured by the Minister of State for Housing and Urban Development, is doing every thing possible to solve it with payment of allowances owed the beneficiaries”
Also explaining the outcome of the meeting , the Minister said intervention made by the Deputy President of the Senate , yielded positive results for parties concerned which are , the federal government and the beneficiaries of the N – Power programme .
” I want to first thank the Deputy Senate President for convening this meeting for us to treat the case that has been for years now, the issue of payment of the backlog of our end-power beneficiaries, which we are owing, or owing them.
“We acknowledge the fact that we are owing them, and we know we are owing them, but it was actually part of the 2022 and 2023 budget that was not paid to them, and because it was recurrent, it passes along with the year’s budget.
“There was no provision for it in 2024 and 2025, so we sought for it at the service-wide vote. We got approval, but it was late for last year, so we are working on the approval for this year to ensure that once we get the budget implementation for this year 2025, we have to find a way of making those payments to the beneficiaries.
“I think being a responsive government, we’re not denying the fact that we have that as part of the issue we need to resolve and it will surely be resolved before the year runs out “, he said
Confirming the stay of litigation due to the intervention, the counsel of the beneficiaries , Barrister Abba Hikima said : ” As explained by the Honorable Minister, the government is owing my clients about N81billion and he has given us his words that they are working on it and they are waiting for this year’s budget to begin to be implemented, and that as soon as the budget is being implemented, they can get access to their money.
“Although I’m their lawyer, but I really appreciate the effort of the Deputy Senate President who, despite the fact that he is not directly affected by this, took it upon himself to convene this meeting, as well as the Honorable Minister of State and as well as the Humanitarian Minister.
“They are all here and they have all given us their words, and we have taken them for it, and we are confident and hopeful that in the nearest future, within the year, definitely, this money is expected to be paid”.
The Chairman of the N- Power beneficiaries in Nigeria , Kehinde James thanked the Deputy President of the Senate for his intervention and the two ministers for their assurances .
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