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Leading economists, the Nigeria Employers’ Consultative Association, and opposition groups criticized President Major General Muhammadu Buhari (ret.) and the Senate for the N22.7 trillion in extra-budgetary spending that was approved by the upper legislative house on Wednesday.

Economic experts viewed the Senate’s approval of the loan as uncommon in separate interviews with The PUNCH, despite the fact that organizations like NECA and the Lagos Chambers of Commerce and Industry questioned the need for the loan from an administration that was about to leave power.

Nigeria’s external debt would reach N68.95 trillion once the Senate approves the N22.7 trillion loan from the Central Bank of Nigeria provided to the Federal Government under its Ways and Means clause.

Nigeria’s overall national debt grew to N46.25 trillion in the fourth quarter of 2022, according to current information from the Debt Management Office.

According to the statement, the amount represented the combined total domestic and foreign debt of the federal government and the sub-national governments (36 state governments and the federal capital territory).

The Senate agreed on Wednesday to the President’s request for a N22.7 trillion restructuring of the Ways and Means Advances, which increases the stock of existing debt.

According to the Ways and Means clause, the government may borrow money from the apex bank in an emergency or for a short period of time to cover shortfalls in anticipated tax revenue.

The central bank has played a crucial role in funding the government’s spending plans through Ways and Means ever since there has been a significant shortfall in tax collection.

The Federal Government had promised to pay back the loan using treasury bills and bond issuance, among other securities.

Last year, Buhari requested approval from the Senate for his plan to securitize the loan; however, the Red Chamber denied the request due to a lack of information.

While pleading with the Senate to change its mind, Buhari stated that the government would lose about N1.8tn in additional interest in 2023 if the securitization approval was not granted.

Ibrahim Gobir, the Senate Leader, who presided over the Senate’s discussion on Wednesday about the Ways and Means bill, clarified that some of the funds were distributed to the states in the form of loans.

Gobir noted that the Federal Ministry of Finance, Budget, and National Planning as well as the CBN submitted comments, and the Special Committee was established by the Red Chamber to examine the fiscal document and present the report after rigorous analysis and review.

According to the Senate Leader, the panel found that the Ways and Means balance increased from N19.33 trillion as of June 30, 2022, to N22.72 trillion as of December 19, 2022, due to financial obligations to ongoing capital projects and additional expenses, including domestic debt service gaps and interest rates.

He stated that on December 28, 2022, the Senate approved the amount of N819.54 billion from the N1 trillion additional request made by the President, leaving an unpaid balance of N180.4 billion, which represents the interest that had accrued.

Gobir further stated that the House of Representatives had earlier approved the additional N1tn Ways and Means Advances requested by the President to enable the smooth implementation of the supplementary budget.

Gobir said, “Part of the Ways and Means money was given to state governments as loans to augment budgetary shortfall in their various States.

“Most of the requests for funds for an increase in Ways and Means were made to Mr President on the need to finance the budget due to revenue shortfall. Such requests were either made by the Hon. Minister of Finance, Budget and National Planning or the Central Bank Governor.

“The Federal Government as a result of revenue shortfalls occasioned by the COVID-19 pandemic and low oil prices, relied heavily on the Ways and Means to finance its budget deficit to keep the country working for the people.”

The Senate leader added, “The monies received by the Federal Government were used for funding critical projects across the country;

“That due to the serious shortfall in Government Revenue, the Federal Government for the economy not to collapse, was compelled to borrow repeatedly from the CBN, exceeding the 5 per cent threshold of the prior year’s revenue as stipulated by the CBN Act, 2007.

“That the Federal Government through the Ministry of Finance, Budget, and National Planning has concluded plans to convert the CBN loans to tradeable securities such as treasury bills and bond issuance.”

Attorneys for the Department of State Services and the Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, have been warned by the Federal High Court in Abuja against cutting short the proceedings on the next postponed date.

Following a Wednesday proceeding that was postponed due to DSS counsel Idowu Awo’s oral request for more time to respond to a subsequent affidavit served on him by Kanu’s attorney, Chief Mike Ozekhome, SAN, in open court, Justice Binta Nyako issued the warning.

According to the News Agency of Nigeria (NAN), Kanu sued the DSS and its Director General as the first and second respondents in the case.

In the lawsuit with the file number FHC/ABJ/CS/ 2341/2022, Kanu asked the court for permission to request a mandamus order compelling the DSS to give him unrestricted access to his doctor and other parties.

On February 1, following an ex-parte application filed by Ozekhome to that effect, the court had given Kanu authority to request the order of mandamus he wanted.

But the DSS urged the court to dismiss the case for lack of jurisdiction in a preliminary objection that was filed.

It claimed that a ruling from a sister court, rendered on June 3, 2022, in the case FHC/ABJ/CS/1585/2021 between Kanu and the director of the DSS and two others, was still in effect and dealt largely with the matter of granting the IPOB leader access to his personal physician.

It stated that the current lawsuit was analogous to the previous one and that Kanu had filed an appeal against the ruling.

Ozekhome informed the court during the reopened hearing on the subject that he had reacted to the DSS’s notice of preliminary objection.

The court granted Ozekhome’s request for a subsequent order declaring their additional affidavit as having been properly filed after Awo requested an order extending the deadline to file their processes.

Awo, who claimed to have just received service of the additional affidavit, stated he would need more time to review the document in order to determine whether any new information had been introduced.

He claimed that although the document included 60 paragraphs, 15 of them were embedded.

“It is also accompanied with a judgment from Abia State as exhibit.

“In the cisrcunstance, we will be asking for a short day,” he said.

However, Ozekhome claimed that the security agency had claimed that Kanu had jumped bail in the counter-affidavit it had submitted.

“We have to respond to that circumstances under which he left Nigeria and those facts had been validated by Abia Court in Umuahia,” he responded.

The senior attorney claimed that because the DSS served them on Friday, they were compelled to serve the additional document on Tuesday.

He claimed that the security company has a tendency of giving them its processes late in order to postpone hearings.

In her brief order for an adjournment, Justice Nyako stated that she would not put up with any behavior that could cause the proceedings to go on any longer.

“I will not allow this case to be truncated in the next adjourned date.

“There must be an end to exchange of processes,” she said.

The judge adjourned the matter until May 22 for hearing.

Criminal gang said to be responsible for the gruesome murder of an Assistant Superintendent of Police along East Street, Ndiegoro, Aba, Abia State has threatened to sack residents of the area.

The commonly known as “Agbalagba” ASP, who was from the Ebonyi State, was brutally murdered with his head chopped off near East Street on Tuesday morning (about 5 am), and the gang made off with his weapons and uniform.

The murder of the ASP was connected during an inquiry to a notorious criminal organization whose boss was murdered in a shootout on April 23, 2023, according to a reliable police source.

According to reports, on April 23, when he was seen engaging in illegal activity, the gang’s leader, JT, who is well-known in the neighborhood, met his end in a gunfight with the police.

The source claimed that JT and his gang opened fire upon spotting the police officers, tried to leave, but were pursued closely by the police all the way to the Orji Uzor-Kalu bridge that connects Ngwa Road, Pepples Road, and Akpu Road.

As the criminals allegedly threatened to target police and residents, many residents of East Street, Ngwa Road, Akpu Road, Ndoki Street, Etche Road, and Ulasi Road all within the Ndiegoro axis have reportedly gone into panic mode as a result of the incident.

“With what we heard, they said they’ve declared war on the police and we the residents. I don’t know what happened but the way they killed the ASP, with his head removed and during the murderous act shows that this city needs serious attention now,” he said.

A retired police officer, who equally preferred to speak anonymously for fear of reprisals, told our correspondent that the gang threatened to burn down police formation and attack more officers, adding that it was time for the Inspector General of Police, the Commissioner of police, and other security heads to pay attention to what is happening in Ndiegoro, especially the areas linking it with Ogbor-Hill.

“The police officer that was killed along Tenant Road by East Street had his head cut off, his arms carted away and his uniform taken away as well. What does that tell you? The criminal activities are too much yet the Commissioner of Police in Abia is behaving as if nothing is happening.

“I don’t know if the IGP is not getting reports of how these boys are causing us to fear and threatening his own men on duty. Aba seriously needs more police manpower. We have only eight functional police stations policing urban areas of the five local governments in Aba here.

“Do the Ohuru-Isimiri Division, Ndiegoro Division, Central Police Station, Uratta Division, Eziama Division, Azuka Division, World Bank (Abayi) Division and Osisioma Division have the manpower and equipment to handle what’s currently unfolding here? Even the presence of Mopol 55, Rapid Response Squad (RRS) in Eziama and the anti-kidnaping unit, Aba Annex in Ndiegoro boundary with Ovom is not enough.

“Aba is highly populated and places like this Ndiegoro and the other side of the River (Ogbor-Hill) and even the Umunkama area are crime prone. This is exactly why this city called Aba is not expanding. The IGP and the commissioner must act fast and take away these areas from the hands of criminals who have occupied them.”

Calls to Mr. Geoffrey Ogbonna, the spokesman for the Abia State Police Command, did not connect, therefore attempts to gain a response from him proved futile.

On Wednesday, the Senate approved a bill calling for the country’s illegal explosive producers to be sentenced to life in jail without the possibility of a fine.

The Explosives Act 2023, which would replace the Explosives Act of 1964, is proposed to be repealed in Section 11 of the bill, which the Senate approved on Wednesday for third reading. This provision proposes life in prison without the possibility of a fine for anyone found guilty of manufacturing explosives in violation of the law.

The passage came after the Senate Committee on Solid Minerals, Mines, Steel Development, and Metallurgy, led by Tanko Al-Makura, considered and approved a report.

The Bill states that “Any person who unlawfully manufactures any explosives, commits an offence and is liable to conviction to life imprisonment without an option of fine.”

The Bill states that “Any person who unlawfully manufactures any explosives, commits an offence and is liable to conviction to life imprisonment without an option of fine.”

In presenting the report on behalf of the committee chairman, Adelere Oriolowo (APC, Osun) stated that the issue with the use, transport, manufacture, sale, and possession of explosives is significant.

According to the congressman, criminals are using explosives in increasingly creative ways.

He said suicide bombers have used explosives to kill dozens of Nigerians.

He believed that in order to minimize the criminality connected with explosives, violators ought to be put in their place.

He said, “The Explosives Act of 1964 was prepared to meet the situation at that time. The penalties and fines in the act were too mild compared to the gravity of the offences being committed by explosive users nowadays.

“In line with this, the passing of the Bill to checkmate the abuse and menace posed by its use by criminal groups, insurgents and non-state actors is justified.

“The manufacture, storage and use of explosives are not to be an all-comers affair and should be closely regulated. The penalties provided in the bill will serve as deterrence to offenders.”

Before receiving the President’s assent, it is anticipated that the Bill would be referred to the House of Representatives for approval.

The Senate also started the process of establishing a tribunal to ensure strict adherence to the audit report as approved by both chambers of the National Assembly.

When the Bill proposed by the Senate’s Chairman of the Committee on Public Accounts, Mathew Urhoghide (PDP Edo South), was taken into consideration and approved for second reading, the necessity for an Audit Report Tribunal was brought to light.

Urhoghide said the proposed legislation was crucial for the effectiveness of the fight against corruption in his opening remarks for the lead debate on the Bill seeking an Act to ensure strict implementation of the National Assembly recommendations on annual federal audit reports and for related topics.

He contends that stringent implementation or enforcement of audit report findings and recommendations is necessary for the fight against corruption to be successful.

“It’s not enough for the National Assembly as provided for in Section 88 of the 1999 Constitution to expose corruption through required investigation, but go further to ensure strict implementation of resolutions made,” he said.

In a similar vein, the president of the Senate, Ahmad Lawan, stated in his remarks that it is imperative to address the issue of the National Assembly’s resolutions on yearly audit reports not being strictly implemented.

“The proposed legislation is very necessary. Something in the mode of a Tribunal is needed for strict implementation of recommendations in the form of prosecution of offenders.

“Public Hearing on this Bill must be thoroughly conducted on how the Tribunal would be put in place as a potent way of fighting corruption,” he added.

Several Nigerians are protesting outside the Central Bank of Nigeria’s headquarters, calling for the resignation and detention of the governor, Godwin Emefiele, in response to the new naira notes policy.

According to a report by Sahara Reporter, the demonstrators, who were seen at the headquarters of the top bank waving banners, claimed that Emefiele had subjected Nigerians to unjust hardships that had purportedly resulted in the deaths of many Nigerians.

Reports had it that, the group pledged to occupy the apex bank’s space until their demands were satisfied.

Emefiele must be removed, “CBN Now Bureau De Change,” “Emefiele Bring Out The Names of Those You Gave Our Money To,” “Where Is The 500 Billion You Cried on Tape Is Missing?” “What Happened To Anchor Borrowers Program,” and many more statements could be seen on their placards.

Addressing journalists, the convener of the protest, George Uboh, said “We are demanding that Godwin Emefiele in his capacity as the Governor of CBN should make available the new naira notes. He must also come out here to address the people because the Supreme Court in its ruling pronounced that the new naira notes policy has caused the Nigerian masses undue hardship.

He emphasized that genocide may be committed without the use of weapons and that the CBN’s monetary policy action amounted to genocide.

According to Sahara Reporter, he described the Emefiele-era policy as “insensitive” and claimed that their protest was motivated by the Supreme Court decision ordering the CBN to release the new naira notes.

Uboh stated that they were ready to launch a request for Emefiele’s arrest and prosecution for crimes against humanity by the International Criminal Court.

As he bemoaned how the policy had destroyed small businesses in the nation, he continued, “It is treasonable to have two legal tender at the same time in a country.”

In order to avoid a potential collapse in law and order, security personnel comprising the police, the Nigerian army, and Department of State Services personnel are said to have ringed the CBN building.

Wednesday saw the President-elect Bola Tinubu reject the Rivers State Governor Nyesom Wike’s plea for a reimbursement for the building of some federal highways in the state.

Speaking at the opening of the Rumuokwuta-Rumuola Flyover in the Rivers State local government of Obio/Akpor, Tinubu.

Wike said that the state had to change its procurement legislation in order to raise money and finish the numerous flyover projects in a flash, but he insisted that the federal government should handle whatever projects the state choose to take on.

“And unfortunately too, these projects ought to be Federal Government projects because they are federal roads.

“If we had said because they are Federal Government roads, and we won’t do it. Who are those to suffer?

“Since we have said we don’t want our people to suffer, I also believe that the Federal Government should say look, you have done well for us. These are projects we should be doing, can you bring your bill, let us refund you the money you have done these roads.

“That is what it is supposed to be for a partnership with a good Federal Government. I can assure you as you enter the office and you approve to pay this money back, other states will have the courage to also do the same thing.

“I am not asking what we are not entitled to. The Federal Government should say you are a true son of this government you have removed shame from us.”

But in his response, the President-elect stated, “The 12th flyover and the demand you made for refund, I owe you nothing. It is your road.

“You can’t chuckle at me and make a demand. You are the one living on this road. I commend your effort. You have to lobby me to collect it.”

At the Force Headquarters in Abuja, the police on Tuesday started questioning suspended Adamawa State Resident Electoral Commissioner Hudu Yunusa-Ari about alleged irregularities during the state’s April 15 supplementary governorship election.

Olumuyiwa Adejobi, the Force Public Relations Officer, confirmed to our correspondent that Yunusa-Ari and other suspects were being interrogated by police while being held in jail.

This occurred at the same time that the suspended Adamawa REC claimed in an interview with BBC Hausa that he had no remorse for declaring Aisha Dahiru, often known as Binani, the winner of the governorship race in Adamawa State in 2023.

According to reports, Yunusa-Ari caused controversy for announcing Binani while the results were still being tallied.

The Independent National Electoral Commission then made a statement declaring the REC’s declaration to be invalid. Yunusa-Ari was then sent a summons to appear at INEC’s Abuja headquarters, but she did not show up.

The electoral umpire also requested in a letter to the Inspector General of Police that the police conduct an investigation into any suspected electoral breaches and, if found guilty, bring charges against Yunusa-Ari.

The electoral umpire said that it was unaware of the location of the suspended Adamawa REC after receiving the letter, and the IG subsequently requested an investigating team to engage with INEC on the case.

Confirming the arrest of Yunusa-Ari and other suspects on Tuesday, the Force spokesman, Adejobi, said, “The Nigeria Police Force hereby confirms the arrest of Barrister Hudu Yunusa-Ari, the Adamawa State REC, who was alleged to have announced the candidate of the All Progressives Congress winner of the gubernatorial election during the recently concluded supplementary elections following calls for his arrest and investigation by the INEC on the basis of alleged impropriety in the course of supplementary gubernatorial polls in the state.

“Barrister Yunusa-Ari, who was arrested by the Police Election Planning, Monitoring, and Evaluation Team in Abuja on Tuesday, May 2, 2023, is currently in police custody and he’s being grilled to ascertain the motives and motivations behind his alleged improper actions during the supplementary elections in Adamawa State.

“In addition, other officials and individuals culpable in the saga are being interrogated by the team.

“The Inspector-General of Police has given clear assurance that every individual involved/indicted in the matter will be apprehended and investigated in line with the provisions of the law for possible prosecution.

“The IG has assured of the commitment of the Force to ensuring that justice is served in this case and that all guilty parties are brought to justice.”

Before being detained, Yunusa-Ari claimed in an interview with BBC Hausa on Tuesday that he had declared APC candidate Binani the governor-elect of Adamawa state in accordance with the law. However, this declaration was later overturned by the national headquarters of the electoral empire in Abuja.

He said, “I don’t have the papers with me here but both in the main and supplementary elections, Binani scored 428,173 while Fintiri got 422,303 votes.

“I have no regrets at all as I acted under the law; it is the law that warranted what I did and it shall absolve me.”

On accusations of receiving N2bn to pull off the electoral stunt, Ari told BBC Hausa that, “I never demanded any gratification from either of Binani or Fintiri. None of the duo sent anything to me; if they had done so, by now they will be demanding their money back.”

One of the buses conveying stranded Nigerians from Khartoum, the Sudanese capital, to Port Sudan where they will move into Saudi Arabia caught fire in the early hours of Monday.

According to reports, twenty-six buses conveying the stranded Nigerians left Al Razi around 12:am on Monday for Port Sudan.

“One of the buses conveying some 50 Nigerian students from Sudan with a tag number (Katsina 1) heading to Port Sudan as part of the second batch of FGN evacuation got damaged due to excessive heat from one of the vehicle’s tyres.

“Dr Hashim Idris Na’Allah, the chairman of the Nigerian Elders’ Forum in Sudan, was one of the passengers in the said bus, which contained a total of 50 students (49 males, 1 female).

“The incident happened around 2:30am Sudan time.

“The driver stopped the bus near an RSF checkpoint, just before the tire exploded causing a fire to start.

“All the passengers escaped unhurt.

“Forty out of the 50 passengers were later distributed to the other buses evacuating the students, while the remaining passengers spent the night where the incident happened alongside the driver at the RSF checkpoint.

“The students said the RSF really did their possible best to help the passengers and offered them with cups of tea in the morning before they left,” Sani Aliyu who is in Sudan disclosed.

It was gathered that they have since continued their journey to Port Sudan.

Over 1000 Nigerians are being evacuated through the Port Sudan route following the difficulties faced in getting the first batch of evacuees across the Egypt borders.

The Taliban will not be present at discussions on how to deal with Afghanistan’s leaders and pressure them to lift a ban on women working and girls attending a school that is set to begin Monday in Qatar under the direction of the United Nations.

Representatives from roughly 25 nations and NGOs, including the US, China, and Russia as well as significant European aid contributors and important neighbours like Pakistan, have been invited to the two days of negotiations by UN Secretary-General Antonio Guterres.

Although the Taliban government was not invited, the issue of whether to recognise the administration loomed large before the meeting.

A tiny group of Afghan women organised a protest march over the weekend in Kabul to reject any efforts to recognise the newly installed leaders who returned to power in August 2021.

In an open letter to the Doha meeting released Sunday, a coalition of Afghan women’s groups said they were “outraged” that any country would consider formal ties because of the record of the government that says its handling of women’s rights is “an internal social issue”.

The United Nations and United States have insisted that recognition is not on the agenda.

Rights’ groups fears have been fuelled by UN deputy secretary-general Amina Mohammed, who said last month that the Doha meeting could find “baby steps” that lead to a “principled recognition” of the Taliban government.

The UN said that the remarks were misconstrued.

No nation has formally connected with the Taliban government, and the UN General Assembly alone has the authority to decide whether a country will be included.

The discussion “is intended to achieve a common understanding within the international community on how to engage with the Taliban” about women’s and girls’ rights, inclusive governance, combatting terrorism, and drug trafficking, according to Guterres’ office before his arrival in Doha.

Santiago Peña, the governing conservative Colorado party candidate, has won the presidential election in Paraguay.

The 44-year-old had 42.8 percent of votes, with nearly all ballots counted, the national electoral authority said on Sunday.

According to the electoral authority, Mr Peña, a former finance minister, had a 15-point lead over center-left rival Efraín Alegre, 60, from the Concertacion coalition.

Over the past 76 years, Partido Colorado has lost just one election in the South American country – it was not in power from 2008 to 2013.

Five years ago, Alegre lost to Mario Abdo Benítez, the outgoing incumbent.

Abdo Benítez was not allowed to stand again for constitutional reasons – the president is only allowed one term.

Paraguay has almost seven million inhabitants and, along with Bolivia, is the only country in South America without access to the sea.

Its main exports are soy, electricity and beef.

In addition to the president, the Senate, the Chamber of Deputies and governors were newly elected on Sunday.

According to the electoral authority, the Colorado party also appeared to have defended its majority in parliament.