News
Senate Summons CBN Officials Over N30tn Loans
Published
2 years agoon
By
Editor
The Senate has said it will quiz some officials of the Central Bank of Nigeria on how the N30tn Ways and Means loan was obtained and spent by the Federal Government during the Muhammadu Buhari-led administration.
The Chairman of the Senate Ad-hoc Committee Senator Isah Jibrin, who made the disclosure in an exclusive interview with The PUNCH, also revealed that the panel would commence the probe this week.
The Senate had on Tuesday appointed Jibrin as the chairman of the panel to probe the N30tn Ways and Means loan released by the then CBN Governor, Godwin Emefiele, to the Buhari administration.
The ‘Ways and Means’ is an overdraft taken directly from the central bank to fund budget deficits or address national contingency needs. This usually follows the approval of the executive arm of government and is meant to be ratified by the parliament.
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The Senate had last week Tuesday resolved to probe the N30tn facility, stating that the alleged reckless spending of the overdraft collected from the CBN largely accounted for the food and security crises currently facing the country.
The red chamber then resolved to set up an Ad -hoc committee to investigate how the fund was spent, explaining that the details of how it was spent were deliberately not made available to the National Assembly.
However, the chairman of the panel, also known as Echocho, said the panel had started some background checks based on some documents in its possession.
In an exclusive interview with The PUNCH on Thursday, he said, “We are looking at next week for the investigation at the committee level, but as chairman, I am not waiting for that. I have some documents; I want to write to CBN to provide me with information on some areas.
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“Because Ways and means cover very large latitude, so based on the information that I have now, I am going to write to seek clarifications on certain issues thereafter the committee will meet.”
He added that the Ways and Means loan also came up in December 2022 towards the end of the ninth Senate.
Senator added, “I have some documents and I want to leverage on those documents by going through them to ask questions from the CBN to seek further clarifications. Thereafter, we will now invite CBN officials who were engaged under Emefiele, although he is no longer there.
“They were a part of it, they have to come and explain to us. The terms of reference are very simple.
“These monies were given out. We want to know the agencies that benefited from those monies.
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“We also want to know the individual Nigerians who benefited. We want to know the terms and conditions. The CBN is not Father Christmas. They are loans; we want to know the beneficiaries of those loans.
“What are the terms and conditions of those loans? What are the collaterals collected to fall back on when there is a default? Have they been repaid? What are the repayment schedules? In case of default do we have collateral? So those are the issues, we are not witch-hunting anybody.”
He further explained, “This country belongs to all of us, we want to know what actually transpired because we are where we are today because of those reckless exercises.
“I will call it reckless because when you are taking a decision as an economist because I want to believe, we have economists there when you take a particular decision, you should be able to ascertain the possible impact of that decision on the larger community.
“You either withdraw or you modify, that is why I am happy that the Monetary Policy Committee has been composed. You know the composition of the MPC is crucial because that is where policy measures are taken. You need to look at it, if this variable is this, and the state of the economy is XYZ, what do you do?
“How do you tinker with some of those variables so that the larger society will improve? That is why we want to unravel all that happened not to witch-hunt anybody but to know the extent to which Ways and means advances have been performed and then other decisions can be taken thereafter.”
It is unclear if the committee will also eventually summon Emefiele as the probe deepens.
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News
Sanwo-Olu makes U-turn, Unblocks Lawyer Who Sued Him Over Blocking On X
Published
16 hours agoon
September 13, 2025By
Editor
Lagos State Governor, Babajide Sanwo-Olu, has unblocked human rights lawyer, Festus Ogun, on X after a meeting with him at Lagos House, Marina, on Friday.
The lawyer, who had accused the governor of rights violations, announced the development in a post on his X account on Saturday.
According to him, Sanwo-Olu personally invited him for a brief meeting to address his complaints.
“Lagos Governor Babajide Sanwo-Olu has unblocked me on X (Twitter). I met briefly with him yesterday at Lagos House Marina, on his invitation, to amicably resolve my complaint of human rights violations. We will continue to hold authorities accountable, regardless. Aluta continua!” Ogun wrote.
READ ALSO:Lawyer Sues Sanwo-Olu For Blocking Him On X
Tribune Online reports that Ogun had earlier filed a suit against Sanwo-Olu at a Federal High Court in Lagos, accusing him of violating his fundamental rights by blocking him on his verified X account.
In the suit marked FHC/L/CS/1739/25, which he shared on Facebook, the lawyer claimed the governor blocked him over his 2021 “constructive criticisms” and “demand for accountability” on the October 2020 #EndSARS killings.
“In 2021, I noticed that the Governor blocked me on his official X handle @jidesanwoolu owing to my constructive criticisms of his policies and demand for accountability in respect of the October 2020 #EndSARS Massacre.”
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Ogun said the action has prevented him from accessing vital government updates and information.
“Blocking me on X has prevented me from accessing public updates and receiving information about policies and governance in Lagos, which constitutes a violation of my right to receive information without interference,” he said.
In his originating summons, he asked the court to declare the move unconstitutional, arbitrary, and discriminatory.
News
Tragedy Deepens As Prime Suspect in Taraba Student’s Death Found Dead
Published
17 hours agoon
September 13, 2025By
Editor
The investigation into the death of Comfort Jimtop, a 100-level Mass Communication student at Taraba State University, has taken a dramatic turn following the discovery of the lifeless body of Emmanuel Kefas, the prime suspect in the case.
Kefas’s body was discovered on Friday in the Tudiri community, Ardo-Kola Local Government Area, under unclear circumstances, intensifying public concern and adding a tragic dimension to a case that has already gripped the university community and residents across Taraba State.
Confirming the development on Saturday, the spokesperson for the Taraba State Police Command, James Lashen, said the police received a report from the village head of Tudiri about the discovery.
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“A lifeless body was found in Tudiri, and a Tecno Android phone was recovered beside it,” Lashen stated.
“Upon charging the phone, investigators found a photograph showing the deceased with the late Comfort Jimtop, suggesting they were in a romantic relationship.”
Lashen added that the body has been taken to the Federal Medical Centre (FMC) in Jalingo for autopsy. At the same time, efforts are ongoing to officially identify the remains through the suspect’s family.
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Police have yet to determine whether Kefas’s death was the result of suicide, homicide, or an accident. Investigations into both deaths are continuing.
Comfort Jimtop’s mysterious death had earlier sparked outrage on campus and across the state, with students and rights groups demanding justice. Kefas was named a prime suspect in the case, which remains open.
This latest development has left many unanswered questions and deepened the grief surrounding the case.
Students, residents, and civil society groups are closely monitoring the situation, calling on authorities to ensure a thorough investigation and bring clarity to the tragic chain of events.
News
Ossiomo, Chinese Impasse: This Is Our Story — Management
Published
19 hours agoon
September 13, 2025By
Editor
The management of Ossiomo Power Plant has cleared the air on the dispute between its Chinese partners and the circumstances surrounding the shutting down of the power plant early this month.
Representative of Ossiomo management, Engineer Festus Evbuomwan, during an interactive session with customers on the impasse between the two partners, said contrary to the rumour making the rounds, the management of Ossiomo Power Plant had paid over ₦2bn to its Chinese partner — Jiangsu Communication Clean Energy Technology (CCETC) — since the power plant started operation.
Recall that representative of CCETC who identified himself as Mr. ‘W’ had, during a telephone phone interview two weeks ago, claimed that “instruction to shutdown was because we lost lots of money and did not get any return on investment,” adding that “all the $20m investment was done by us including the distribution lines.”
But Evbuomwan during the interactive session, said the management was not aware of the $20m investment the Chinese partner claimed, just as he disclosed that “when they generate power, we sell and pay them.”
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He disclosed that after shutting down the power plant, the Chinese partners came up with a request of ₦185m to be paid to two Chinese not known to the management, stressing that this was declined.
According to him, the Chinese partner, having seen how lucrative the business is, “went to some quarters and raised some issues probably thinking they can manoeuvre us with the help of some big persons, so that they can use their machines to generate power and sideline us but this is not possible.”
“The Chinese partners also claimed that they borrowed $20m from their native land to invest, we are not aware of such investment, and we do not know where the money was invested up till now.
“They have been also saying they have not been receiving anything, but I want to tell you unequivocally that first, the partners run a joint account where their investment is going into. More so, The Chinese partners have received over ₦2bn so far for the power they generate with their machines. When they generate the power, we sell and pay them.”
READ ALSO: Five Years After, Edo Govt Reconnects To BEDC As Ossiomo Shut Down
Engr. Evbuomwan, while apologising to customers for the power outage caused by the dispute between the two partners, said Ossiomo had started power generation though not in full capacity, assuring that power generation would be fully restored soon.
“We have purchased turbines, and one have started working. They are working on the second one, so, by the time our five turbines start working we will be in full capacity. Even with that, those connected to the government may not be reached immediately. This is because the government bought the poles and contracted the wiring, and we cannot force the government to do our bid. Also, we are making efforts to site 33kva transformer along Airport Road and Lagos Road as soon as possible, so that our customers there will get power.”
He said the Edo State government does not have a stake in the company, just as he appealed to the “government to let us supply power to customers in through their Lines. I want to emphasise that Ossiomo is not completely shut down.”
He further urged the “government to encourage the Nigerian citizens to invest and not to work against local investors.”
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