Headline

Senate, CBN Set To Clash Over Cash Withdrawal Policy

Published

3 years ago

December 13, 2022

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.

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

US Says Strikes ‘Devastated’ Iran’s Nuclear Program

Published

13 hours ago

June 22, 2025

Editor

Unprecedented US strikes have wrecked Iran’s nuclear program, Defense Secretary Pete Hegseth said Sunday as Washington sought to assess what remained of the three targeted sites.

The surprise strikes threaten to deepen conflict in the Middle East after Israel launched a bombing campaign against Iran, with Tehran vowing to retaliate against US involvement.

But the United States said President Donald Trump wanted peace and urged Iran to end the conflict after strikes on a key underground uranium enrichment site at Fordo, along with nuclear facilities in Isfahan and Natanz.

“We devastated the Iranian nuclear program,” Hegseth told a Pentagon press briefing, adding that the operation “did not target Iranian troops or the Iranian people.”

Trump “seeks peace, and Iran should take that path”, Hegseth said. “This mission was not, and has not been, about regime change.”

Standing beside Hegseth, top US general Dan Caine said that “it would be way too early for me to comment on what may or may not still be there.”

“Initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction,” he told reporters.

– Protests in Tehran –

People gathered in the center of Tehran to protest against US and Israeli attacks, waving flags and chanting slogans, state TV showed.

Trump claimed total success for the operation in an address to the nation hours after the attack, and Vice President JD Vance followed up on Sunday morning.

“We know that we set the Iranian nuclear program back substantially last night, whether it’s years or beyond,” he told ABC.

“We’re not at war with Iran — we’re at war with Iran’s nuclear program,” he added. “The president took decisive action to destroy that program last night.”

In Tehran, AFP journalists said the roar of aircraft flying over the city was heard repeatedly for the first time since Israel’s initial attacks.

The UN’s International Atomic Energy Agency said it had not detected any increase in radiation levels at the nuclear sites and Tehran said Sunday there were no signs of contamination.

Iranian Foreign Minister Abbas Araghchi told reporters in Istanbul the United States and Israel had “crossed a very big red line,” asserting Iran would continue to defend itself “by all means necessary.”

Israeli Prime Minister Benjamin Netanyahu hailed the US strikes, saying Trump’s decision to “target Iran’s nuclear facilities with the awesome and righteous might of the United States will change history.”

The Israeli military was also checking the results of the US raid on the deeply buried nuclear facility in Fordo, with a spokesman saying it was “too soon” to know if Iran had removed enriched uranium from the site.

The main US strike group was seven B-2 Spirit bombers flying 18 hours from the US mainland to Iran with multiple aerial refuelings, Caine said.

– Global concern –

In response to the US attack, Iran’s armed forces said they targeted multiple sites in Israel including Ben Gurion airport, the country’s main international gateway near Tel Aviv.

Israeli rescuers said at least 23 people were wounded.

In Jerusalem, Claudio Hazan, a 62-year-old software engineer, said he hoped the US intervention would hasten an end to the Iran-Israel war.

“Israel by itself would not stop… and it would take longer,” he said.

Israel said it had launched fresh strikes on western Iran and in Qom, south of Tehran. Iran’s official IRNA news agency reported four Revolutionary Guard members were killed in strikes on a military base in the city’s north.

The Israeli military said it had “struck missile launchers ready to launch toward Israeli territory, soldiers in the Iranian Armed Forces, and swiftly neutralized the launchers that launched missiles toward Israeli territory.”

Iran’s Shargh newspaper reported that a “massive explosion was heard” Sunday in Bushehr province, home to Iran’s only nuclear power plant.

Iranian news agencies also reported strikes in Yazd province.

The United Arab Emirates, Qatar and Oman, which had been mediating Iran-US nuclear talks, criticized the US move and urged de-escalation.

The European Union called on all sides “to step back,” while stressing Iran must not be allowed to develop nuclear weapons.

The Iranian foreign minister said he would travel to Moscow for talks with Russian President Vladimir Putin on Monday.

Following his address, Trump warned Iran against retaliation. Iran and its proxies have previously attacked US military bases in Iraq and elsewhere in the region.

Iran’s Huthi allies in Yemen on Sunday repeated their threat to resume attacks in the Red Sea if Washington joined the war, saying they were ready to target US ships and warships.

The US president had stepped up his rhetoric against Iran since Israel first struck the country on June 13, repeating his insistence it could never have nuclear weapons.

Tehran denies seeking an atomic bomb. On Saturday, President Masoud Pezeshkian said Iran’s right to pursue a civilian nuclear program “cannot be taken away… by threats or war.”

Headline

US Struck Iran With B-2 Bombers, Submarine-launched Missiles – Top US General

Published

13 hours ago

June 22, 2025

Editor

Seven stealth bombers were used in the US attack against Iranian nuclear sites, which apparently saw little response by Iran’s military, top general Dan Caine said Sunday.

Describing the complex operation, dubbed “Midnight Hammer,” Joint Chiefs Chairman Dan Caine said the “main strike package comprised of 7 B-2 Spirit bombers” flying 18 hours from the US mainland to Iran with multiple aerial refuelings.

“Iran’s fighters did not fly, and it appears that Iran’s surface to air missile systems did not see us throughout the mission. We retained the element of surprise,” Caine added.

Headline

UK ‘Was Informed Of US Strikes’ On Iran, Plans Evacuating Briton Out of Israel

Published

13 hours ago

June 22, 2025

Editor

Britain was notified in advance of the US airstrikes on Iran’s nuclear sites, though it played no part in the military action, Business Secretary Jonathan Reynolds confirmed today.

“We were informed, as you might expect, by a key ally,” Reynolds told Sky News, adding, “We were not and have not been involved in these attacks.”

The strikes—launched overnight by US B2 stealth bombers and submarines—targeted Iran’s Fordow, Natanz, and Isfahan nuclear facilities. President Donald Trump hailed it as “a spectacular military success,” a claim Tehran swiftly denied.

The UK government is now working to evacuate British nationals trapped in Israel, after Iran launched a wave of retaliatory missiles. Reynolds said it would take “hours, not days” to evacuate them, citing airspace closures as the main delay.

Prime Minister Keir Starmer backed the US operation, describing Tehran’s nuclear programme as “a grave threat to international security.” He noted that the US acted to “alleviate that threat,” despite previously urging Trump to avoid military escalation.

Reynolds acknowledged public anxiety about the developments and warned of a possible rise in terrorism threats at home: “It would be naïve to say that that wouldn’t potentially increase.”

Opposition figures supported the strikes. Kemi Badenoch said the US had acted “decisively against a regime that fuels global terror.” Reform UK leader Nigel Farage posted: “Iran must not be allowed to have nuclear weapons. The future of Israel depends on it.”

Iran’s Foreign Minister, Seyed Abbas Araghchi, condemned the US operation as “lawless and criminal behavior,” warning of “everlasting consequences.”