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Senate, CBN Set To Clash Over Cash Withdrawal Policy
Published
3 years agoon
By
Editor
Indications emerged on Tuesday that the Senate may have a running battle with the management of the Central Bank of Nigeria, CBN, over the cash withdrawal limit policy of the apex bank.
Although the upper legislative chamber agreed to debate the latest policy on Wednesday, Senator Adamu Bulkachuwa (PDP Bauchi North), warned that the report of the Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Uba Sani (APC Kaduna Central) must not be swept under the carpet.
This caused uneasy calm in the chamber, pointing to the fact that not many senators would agree to the cash withdrawal policy.
A member of the committee, Senator Olubunmi Adetunmbi (APC Ekiti North) had drew the attention of his colleagues to the absence of the panel chairman, who is the APC governorship candidate in Kaduna State from the chamber due to the North West zonal presidential campaign rally of the party in Kaduna.
Senator Adetunmbi said the chairman was billed to present the report of the screening exercise conducted for the two CBN Deputy Governor-nominees, Mrs Aishat Ahmad, and Mr. Edward Lametek Adamu.
READ ALSO: Cash Withdrawal Limit: Falana, PoS Operators In Lagos Threaten Lawsuit Against CBN
Both Ahmad and Adamu were recently reappointed by President Muhammadu Buhari who requested the Senate’s screening and confirmation for their second and final tenure at the apex bank
Ahmad, who is the CBN Deputy Governor on Financial System Stability, had explained details of the policy to the panel during the screening last Friday when she and her colleague appeared for screening.
Details of the explanation given by the CBN chief was to be presented for debate, alongside the screening exercise on Tuesday by the senators.
However, Senator Adetunmbi said the debate could not take place because of the absence of the panel chairman.
He said: “Exactly a week ago the Senate resolved that the committee on banking and financial institutions should come forth today to report on the enquiries that it was mandated to make on the new policy of the Central Bank on the withdrawal limit.
“The committee was specifically mandated to interrogate these issues based on the concern that was expressed in the chamber, with the two deputy governors that were coming for clearance.
“This took place on Thursday last week. Two candidates came for clearance and the issues were thoroughly looked into, especially in the opening remarks of the chairman.
“He specifically reported that the Senate wanted the two deputy governors to elaborate on the rationale behind this policy in view of the massive public reaction to that policy.
READ ALSO: Withdrawal Limits: Senate Raises Concerns, To Debate New CBN
“The deputy governors gave elaborate explanations and the committee also requested for further evidence in terms of documented reports that will enable the committee to fully understand the issues behind this policy during the plenary appropriately.
“Unfortunately, the report is not ready today because the chairman of the committee is busy on a political assignment; he is coming tomorrow to present the formal report of the committee.”
This explanation did not go down well with Senator Bulkachuwa, who said the fact that the panel didn’t submit its report should not stop the Senate debate on the CBN Nara withdrawal limit policy.
“We should not allow this thing to be swept under the carpet, it is a very serious issue and Nigerians are waiting to see what the Senate will do like the House or Representatives.
“The House of Representatives has asked the Governor of the Central Bank to stay action on this; leaving it till tomorrow is giving him another excuse and I urge this Senate to discuss this thing today,” he said.
The Senate President, Dr. Ahmad Lawan, ruled Senator Bulkachuwa out of order and insisted that the matter would be debated tomorrow (Wednesday).
He said: “I don’t think it is fair to say we are sweeping the matter under the carpet. To sweep something under the carpet in my understanding means to avoid it.
“Nobody here suggests by action or inaction that we are avoiding discussion on this matter.
“I think it is appropriate to give the Chairman of the Committee an opportunity to come and present his report personally and Senator Adetunmbi is a member of the Banking Committee.
“The Vice of the Committee who is the Chief Whip is here and they are all in attendance.
“They have something to tell us. The chairman wants to present the report himself and when he does that, we will be better informed and we can take appropriate action.
READ ALSO: Group Knocks CBN Over New Withdrawal Limits, Says New Policy Can’t Work
“Tomorrow is less than 24 hours by the grace of God., Please distinguished Senator Adamu Bulkachuwa, I want you to be present so that if there is anything that you want all of us to know even as all of us here feel strong about this.
“If we are going to debate it, let’s do that on the basis of information because that is when we can argue it and say no, stop it because of superior argument. So, let’s not doubt our sincerity here.”
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Headline
Leader Of UK Christian Group Convicted Of Sexually Abusing Women
Published
2 hours agoon
August 23, 2025By
Editor
Chris Brain, 68, the leader of a UK Christian group once backed by the Church of England, has been convicted of sexually abusing nine women in his congregation.
A jury delivered the final verdicts on Thursday.
Brain led the Nine O’Clock Service, an evangelical movement in Sheffield during the 1980s and 1990s. The group was known for its nightclub-style worship, held at 9 p.m. on Sundays, which included live music and drew large crowds of young people.
Prosecutors said Brain used his authority to control members of the congregation, isolating them from family and friends, and used his position to commit sexual assaults. He also maintained a group of young women known as the “lycra nuns” who assisted him, his wife, and his daughter at home, prosecutor Tim Clark told the court.
READ ALSO:UK Bans Sanex Advert For Calling Black Skin ‘Problematic’, White Skin ‘Superior’
The leader of the UK Christian group was charged with 36 counts of indecent assault and one count of rape involving 13 women between 1981 and 1995. He denied the charges, claiming any sexual contact was consensual.
Following a trial at Inner London Crown Court, he was convicted of 17 counts of indecent assault against nine women. He was acquitted of 15 other charges, while the jury could not reach a verdict on four additional indecent assault charges and the rape allegation. The Crown Prosecution Service said it would “carefully consider” whether to seek a retrial.
The Nine O’Clock Service had received approval from the Church of England. In 1990, the Archbishop of Canterbury-elect George Carey met with Brain to discuss his methods, and his ordination was expedited. Prosecutors said the group even spent heavily to purchase the costume worn by Robert De Niro in the 1986 film The Mission for his ceremony.
READ ALSO:Russia Returns Bodies Of 1,000 Ukrainian Soldiers
Brain resigned shortly before a BBC documentary aired in 1995, accusing him of inappropriate sexual behaviour. Carey later said he was “crushed and let down” when the allegations became public.
In court, Brain admitted to receiving massages from congregation members that sometimes became sexual but denied manipulating or controlling them.
Bishop of Sheffield Pete Wilcox said in a statement: “What happened was an appalling abuse of power and leadership that should never have occurred. Where concerns were raised in the past and were not acted upon properly, that was a failing of the Church. For those institutional failures, I offer an unreserved apology.”
Headline
Russia Claims More Ukraine Land As Hopes For Summit Fade
Published
2 hours agoon
August 23, 2025By
Editor
Russia on Saturday said its forces had taken two villages in eastern Ukraine’s Donetsk region, increasing the military pressure as world leaders struggle to broker an end to the conflict.
South Africa added its voice to those calling for a summit between Ukraine and Russia.
Russian forces are slowly advancing in the embattled eastern region of Donetsk, grinding closer to Kyiv’s key defensive line in costly metre-for-metre battles.
Moscow’s defence ministry said on Telegram that its forces had captured the villages of Sredneye and Kleban-Byk.
The taking of Kleban-Byk would mark a further advance towards Kostiantynivka — a key fortified town on the road to Kramatorsk, where a major Ukrainian logistics base is located.
READ ALSO:Top Russian General Seriously Wounded In Ukraine – Officials
On Friday, Russia said its troops had captured three villages in the Donetsk region it claimed to have annexed in September 2022.
On Saturday, Ukrainian military officials said its forces had stopped a Russian advance and recaptured the village of Zeleny Gai in the Donetsk region in a post to Telegram.
In July, Russia claimed the capture of the village, on the border with Dnipropetrovsk, adding that it was an important stronghold used by Ukraine to protect the area.
– Ramaphosa backs summit –
The latest Russian advances come as hopes dim for a summit between Russian and Ukrainian presidents — a solution championed by US President Donald Trump as part of his efforts to end the conflict.
READ ALSO:Russian Politicians Mock European Leaders After White House, Ukraine Talks
South African President Cyril Ramaphosa on Saturday added his voice to calls for a Russia-Ukraine summit during a telephone conversation with Ukrainian President Volodymyr Zelensky.
“President Ramaphosa stressed the urgency of holding bilateral and trilateral meetings between the leaders of Russia and Ukraine and the United States as key to signal a firm commitment to ending the war,” said a statement from his office.
Ramaphosa, who currently chairs the G20, also spoke with French President Emmanuel Macron and Finnish President Alexander Stubb, the statement added. He will speak with other European leaders in the coming weeks.
Ramaphosa spoke on Monday with Vladimir Putin, whom he described in October at the BRICS summit as a “dear ally” and a “valued friend”.
READ ALSO:Ex-Chadian PM Masra Jailed For Hate Speech, Xenophobia
However, for the first time since Russia’s attack on Ukraine, South Africa earlier this year backed a UN resolution declaring that Russia had launched a full-scale invasion of Ukraine.
Zelensky said he had told Ramaphosa he was ready for any kind of meeting with Putin.
“However, we see that Moscow is once again trying to drag everything out even further,” he said on X.
He called on the Global South to send “relevant signals and (push) Russia toward peace”.
On Friday, Russian Foreign Minister Sergei Lavrov said “no meeting” was planned as Trump’s mediation efforts appeared to stall, while Zelensky accused Russia of trying to prolong the offensive.
AFP
Headline
US Suspends Work Visas For Nigerian, Foreign Truck Drivers
Published
14 hours agoon
August 23, 2025By
Editor
The United States government has suspended the issuance of work visas for Nigerian and other foreign truck drivers, citing job security concerns and safety risks for American citizens.
Secretary of State Marco Rubio announced the decision on Thursday, saying it takes immediate effect.
According to him, the rising number of foreign truck drivers on U.S. highways is both threatening lives and reducing opportunities for American truckers.
READ ALSO:JUST IN: US Visa Restrictions On ECOWAS Countries Threaten Regional Prosperity — FG
“Effective immediately, we are pausing all issuance of worker visas for commercial truck drivers.
“The increasing number of foreign drivers operating large tractor-trailer trucks on U.S. roads is endangering American lives and undercutting the livelihoods of American truckers,” Rubio said.
The move comes under President Donald Trump’s renewed clampdown on immigration since returning to office in January 2025.
READ ALSO:US Visa Adjudication Sparks Concerns Over Diplomatic Relations
As part of new measures, travellers from countries with high visa overstay rates or weak travel databases will be required to pay a bond of $5,000 to $15,000 before obtaining certain categories of visas.
The U.S. Embassy in Nigeria also directed all visa applicants to disclose their social media handles from the past five years, warning that failure to comply could result in denial of applications and possible ineligibility for future visas.
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