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Senate Approves Restructuring Of N22.7tn Debt

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The Senate has approved the restructuring of the controversial N22.719 trillion naira ways and means advances, ostensibly to ensure that the government does not shut down.

The upper chamber gave the approval during Wednesday’s plenary session after considering a report from its ad hoc committee, which noted that the federal government repeatedly borrowed from the central bank of Nigeria in the process exceeding the five per cent threshold of the previous year’s revenue as stipulated by the CBN Act.

President Buhari’s request for the National Assembly to restructure the sum of n22.719 trillion naira ways and means advances were met with suspicion and opposition by federal lawmakers in the Senate.

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In his letter to the Senate, which was read on the floor on December 21, 2022, explained that the ways and means of advances given to the Federal Government by the Central Bank of Nigeria (CBN) are for emergency funding of delayed receipt of fiscal deficit.

However, some senators were opposed to approving the overdraft explaining that it contravened the constitution and the CBN Act.

Leading the Senate in the debate for the approval of the Ways and Means on Wednesday, the Senate Leader, Ibrahim Gobir, explained that part of the money was given as loans to states.

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He explained that the Special Committee was set up by the Red Chamber to scrutinise the fiscal document, put up the report after critical analysis and review of submissions made by the Federal Ministry of Finance, Budget, and National Planning; and the CBN.

 

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JUST IN: Convicted Kidnap Kingpin Evans Re-arraigned, Opts For Plea Bargain

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Convicted billionaire kidnapper, Chukwudumeme Onwuamadike, popularly known as Evans, and his co-defendant Joseph Emeka, charged with murder and attempted kidnap have opted for plea bargain.

The News Agency of Nigeria (NAN) reports that the state lead counsel, Mr Yusuf Sule, informed the court about the plea bargain option on Thursday when the case was called for re-arraignment.

The case was called for re-arraignment before Justice Adenike Cokers of an Ikeja High Court.

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NAN reports that Evans and his co-defendant were to be re-arraigned on an amended five-count charge bordering on murder, attempt to murder, conspiracy to commit felony, wit: kidnapping and attempt to murder.

Sule informed the court that the case was for re-arraignment but he was aware the defendants have applied for plea.

The prosecutor, however, said the plea bargain terms were being considered by the Attorney-General of Lagos State, Mr Lawal Pedro (SAN).

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JUST IN: Collapsed Roof Injures OAU Students During Lecture

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A torrential rainfall of early Thursday morning, accompanied with a whirlwind has injured students of Obafemi Awolowo University, Ile-Ife, Osun State.

The rain which started when the students were having a lecture, SER to be precise, in the Amphitheatre of the Oduduwa Hall, affected the ceiling of the Amphitheatre as it fell off and injured a few of the students.

The Vice-Chancellor, Professor Adebayo Simeon Bamire led other principal officers to the Medical and Health Centre of the University, and ensured that the injured students were given adequate medical attention.

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A release by the Public Relations Officer of the University, Mr. Abiodun Olarewaju, stated that the Vice-Chancellor also followed two other students, whose cases demanded more medical attention to the Obafemi Awolowo University Teaching Hospital Complex (OAUTHC), where the Chief Medical Director (CMD), Professor John Okeniyi, physically supervised the proceedings.

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The Vice-Chancellor has, therefore, appealed for calm and urged students and staff to go about their academic and administrative activities without any form of untoward action.

Meanwhile, the management of the University, has sealed off the amphitheatre, the venue of the unfortunate incident, until further notice.

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Edo Guber: Those Leaving PDP Are Disgruntled; We Need People With Value – Campaign DG

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Matthew Iduoriyemkewen, the Director-General of the Peoples Democratic Party (PDP) Campaign Council for the September 21st governorship election in Edo State says persons who defected from the party to other parties are disgruntled.

Iduoriyemkewen made this assertion on Thursday in Benin during a familiarisation visit to the leadership and members of the Nigeria Union of Journalists (NUJ), Edo State council, where he solicited for a partnership and cooperation from media practitioners.

According to the DG, the PDP is interested in persons of value, adding that those that are in the party are assets to the party and that many persons are still coming.

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Most of the people moving out of the PDP have become disgruntled, and they feel they must have it all. I don’t know who gave them that kind of entitlement that PDP is theirs, and it must be theirs, and that when they need anything in PDP, and they don’t get it, nobody else can get it, and that the roof must be brought down,” he added.

He continued: “I can tell you that people we have in PDP are those that are asset to the party. Those that are assets to the party, we do not allow them to leave. More so, those that we are bringing into the party are those that will add value to the party. You will start seeing them very soon.”

Iduoriyemkewen, who said Edo needs persons with value and substance, stressed that his party candidates – Asue Ighodalo and Osarodion Ogie – are the rights persons Edo needs to move to an enviable heights.

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Further speaking on activities of the campaign council, the DG said the party campaign would be issue-based, adding that how to move Edo forward is his party concern and not frivolous issues.

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He said: “Our campaign would be issue-based. The campaign would be where we met Edo people and where we intend to take them to. Our campaign is going to be a realistic one, the steps we intend to take to solve the numerous challenges facing us.

“What we are going to be telling Edo people is the process of taking them from where we met them to where we are taking them to.”

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Responding, the chairman, Edo NUJ, Comrade Festus Alenkhe, assured the DG of members of the council unbiased, apolitical stance as far as politics is concerned in the state.

The Edo NUJ chairman who said the union as a professional body frowned at fake news and unverified information, described the NUJ secretariat as a freedom ground where anyone can come to express his or mind on issues.

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