Headline

Senate, CBN Set To Clash Over Cash Withdrawal Policy

Published

3 years ago

December 13, 2022

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.

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.

“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.

“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.”

Headline

Strait Of Hormuz: US Announces Sanctions Against Iran

Published

9 minutes ago

May 28, 2026

Editor

The United States Treasury has announced sanctions against Iran’s Persian Gulf Strait Authority.

Treasury Secretary, Scott Bessent, said this in a statement on Wednesday.

The statement extended the threat of sanctions to anyone paying the fees, saying they may be providing support to and receiving services from Iran’s Revolutionary Guards, and therefore may be exposed to sanctions risk.

“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash.

“Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions,” Bessent said.

Bessent added that the US has succeeded in disrupting tens of billions of dollars’ worth of revenue from being accessible to Tehran.

Headline

US Launches New Airstrikes On Iran

Published

12 minutes ago

May 28, 2026

Editor

The United States has launched new airstrikes in southern Iran.

The strike shot down four one-way attack drones that posed a threat around the Strait of Hormuz and then a ground control site.

A US official revealed that American forces struck an Iranian ground control station in Bandar Abbas that was about to launch a fifth drone.

The official described the strikes as purely defensive, saying the US intended to maintain the ceasefire.

Report says this is the second time in three days that the US has carried out self-defense strikes against Iranian military targets in southern Iran.

Recall that on Monday the US carried out airstrikes against Iranian missile locations and boats that US Central Command said were preparing to launch mines in the Strait of Hormuz.

Headline

Woman Passes Out After Receiving 100 Strokes Of Cane

Published

4 days ago

May 24, 2026

Editor

A woman has passed out after she and her partner were each flogged 100 times in public for engaging in sex outside marriage under strict Sharia laws in Indonesia’s Aceh province.

The woman, whose identity was not disclosed, was later carried away after the punishment was carried out in Banda Aceh, located at the northern tip of Sumatra island on Thursday.

A masked official dressed in brown robes administered the caning before members of the public who gathered to witness the punishment.

Her partner was also seen wincing in pain while receiving the lashes.

The pair were among several individuals punished for violating Sharia regulations in the province.

Authorities from the Banda Aceh Sharia Court and the Prosecutor’s Office handed down punishments ranging from 25 to 100 lashes for offences including extramarital sex allegedly arranged through online applications.

Aceh remains the only province in Muslim-majority Indonesia operating under Sharia law, where unmarried couples are prohibited from having sexual relations.

Caning is commonly used in the province as punishment for offences such as gambling, alcohol consumption, same-sex relations and sex outside marriage.

Under Aceh’s Sharia regulations, child rape offenders face some of the harshest penalties, including up to 200 strokes of the cane, a prison sentence of as long as 200 months or fines equivalent to two kilograms of gold.

The punishments are usually carried out publicly as a way of shaming offenders in addition to inflicting physical pain.

Such canings are often conducted outside mosques or in open public spaces, with residents watching and taking photographs during the exercise.

Human rights organisations have continued to condemn the practice, arguing that it causes emotional trauma and violates international human rights standards.

Amnesty International and Human Rights Watch have repeatedly criticised the punishments, saying they conflict with Indonesia’s constitution and global legal obligations.

Amnesty said in a statement: “Caning contravenes Indonesia’s constitution and is in clear violation of international human rights law and standards.

‘It constitutes a cruel, inhuman and degrading punishment and can amount to torture in violation of the UN Convention against Torture and other international covenants, to which Indonesia is a State Party.’”

Despite the criticism, local authorities have defended the punishments as part of Aceh’s religious and cultural identity, insisting they serve as a deterrent against immoral behaviour.

Earlier in January, another couple in the province reportedly received 140 lashes each after being found guilty of drinking alcohol and engaging in sex outside marriage.

(Daily Mail)