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Ways and Means: After violation, Senate amends CBN Act to give FG leverage for more borrowings

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The Senate in an emergency session on Saturday amended the CBN ACT, by raising the Ways and Means borrowing threshold for the Federal Government from 5% to a maximum of 15% from the Central Bank of Nigeria(CBN).
This was coming after the Senate had approved more that the maximum benchmack of 5% earlier which was in itself a violation of the act.
Presenting the bill for amendment, Senate Leader, GOBIR Ibrahim Abdullahi explained that the adjustment was required to enable the Federal Government “meet its immediate and future obligations in the approval of the ways and means and advances to the Federal Government.

Federal Government borrowings from the CBN is put at roughly N22.7 trillion as at December 2022.
The CBN advances to the FG stood at N700 billion before 2015, with the borrowings exceeding the threshold of 5% of FG revenue for the previous years, thereby violating Section 38 of the CBN ACT.

Even more troubling was that most of the money were borrowed and spent without necessary approval by the senate in clear violation of the Constitution.

In addition, the CBN ACT further stipulates that all advances shall be repaid as soon as possible and shall in any event be repayable by the end of the Federal Government financial year in which they are granted and if such advances remain unpaid at the end of the year, the power of the bank to grant such further advances in any subsequent year shall not be exercisable, unless the outstanding advances have been repaid”.
The FG has repeatedly violated this condition.

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Legislature

Lawan condoles with Borno Governor, victims of flood disaster

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Former President of the Senate, Ahmad Lawan has extended his condolences to Governor Babagana Zulum and the people of Borno State following the recent devastating floods that have ravaged parts of the state.
A statement by his media adviser Dr. Ezrel Tabiowo quoted Lawan to have expressed deep sadness over the loss of lives and property caused by the disaster, which has left many residents displaced and without livelihoods.

He urged swift intervention from the National Emergency Management Agency (NEMA) and other relevant agencies to provide relief materials and assistance to the affected communities.

Lawan, who represents Yobe North Senatorial District, commended Governor Zulum’s efforts in responding to the flood disaster and pledged his support for the affected communities.

The former Senate President’s statement conveyed his solidarity with the people of Borno State during this challenging time.
The statement reads, “I am deeply saddened by the news of the severe flooding in Borno State, which has caused untold hardship and suffering to our compatriots. My heart goes out to those who have lost loved ones and property in this disaster.

“I urge the National Emergency Management Agency (NEMA) and other relevant agencies to swiftly provide relief materials and assistance to the affected communities.“

“I want to commend Governor Babagana Zulum for his proactive efforts in evacuating residents from the flooded areas and providing temporary shelters for them. His leadership has been instrumental in minimizing the impact of the disaster.“

He commended the federal government for providing additional support to Borno State to enable it to cope with the aftermath of the flood.

Lawan also urged the Borno State government to work with relevant agencies to find lasting solutions to the flooding in the state.

“While we commiserate with the victims of the flood, we must also work towards finding lasting solutions to this perennial problem. The Borno State government, in collaboration with relevant agencies, should embark on a comprehensive flood control programme to mitigate future disasters,” he said.

Senator Lawan prayed for the repose of the souls of those who lost their lives in the flood and wished the injured a speedy recovery.

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Legislature

KGHA Resumes Sitting, Congratulates Ododo over Supreme Court Victory

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From Friday Idachaba, Lokoja

The Kogi State House of Assembly has reconvened after a lengthy recess, with Speaker Rt. Hon. Aliyu Umar Yusuf expressing gratitude and excitement over the Supreme Court’s affirmation of Governor Ahmed Usman Ododo’s victory in the November 11th governorship election.

In his welcome address to members, Speaker Yusuf commended the lawmakers for their solidarity and assured them of the ruling All Progressives Congress (APC)’s commitment to collaborative governance for the state’s betterment.

Yusuf stated, “The Supreme Court’s pronouncement has profound significance for all of us, both as members of this esteemed assembly and as a state. We attribute this triumph to the Almighty God.”

The Speaker emphasized the legislature’s unity across party lines, saying, “As lawmakers, we have collectively rejoiced at this outcome, demonstrating our commitment to working harmoniously for the state’s progress.”

The assembly pledged its support for the executive branch, ensuring a harmonious working relationship to drive development and progress in Kogi State.

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Legislature

Kogi Assembly Passes Vote of Confidence on Governor Usman Ododo

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***Applauds Numerous Achievements in 7 Months

By Friday Idachaba, Lokoja

The Kogi State House of Assembly has passed a Vote of Confidence on Governor Ahmed Usman Ododo, lauding his outstanding achievements over the past seven months.

The vote of confidence was passed during Tuesday’s plenary session following the adoption of a motion on Urgent Public Importance, moved by Hon. Akus Lawal (APC-Ankpa 1).

In his motion, Hon. Akus highlighted the governor’s significant accomplishments in fiscal discipline, financial management, agriculture, health, security, infrastructure development, and education.

The motion commended Governor Ododo’s efforts in reducing the state’s domestic debt from N121 billion to N38 billion, earning Kogi State a “B-” rating with a positive outlook from FITCH Ratings.

The governor’s initiatives in agriculture, such as designating 8,000 hectares of farmland, releasing N8 billion to farm clusters, and refurbishing 200 tractors, were also praised.

In health, the motion recognized the governor’s efforts in formalizing the Health Insurance Scheme, revitalizing over 70 primary health centers, and distributing essential consumables and hospital equipment.

The governor’s commitment to security, infrastructure development, and education was acknowledged as well, including the engagement of local hunters and vigilantes, the launch of a metropolitan quick response unit, and the construction of roads and model colleges.

The House of Assembly’s vote of confidence is a testament to Governor Ododo’s dedication to transforming Kogi State and improving the lives of its citizens.

Hon. Jibrin Abu (APC-Ajaokuta) seconded the motion, which was supported by other members. In their various submissions, they applauded the governor for his achievements despite the pressure from ongoing litigation.

In his ruling on the motion, Speaker of the House, Rt. Hon. Aliyu Umar Yusuf, noted that despite the pending litigation from the election, the governor had achieved a great deal within seven months. He highlighted Governor Ododo’s impact on fiscal discipline, financial management, debt reduction, improved Internally Generated Revenue (IGR), and advancements in the agricultural sector.

Speaker Yusuf also emphasized the tremendous support the health sector has received under Ododo’s administration, from private healthcare to tertiary health institutions. He noted significant improvements in security, infrastructure development across the three senatorial districts, continuity and support for education, as well as reforms and improvements in Kogi’s civil service at both the state and local government levels.

He concluded that the governor not only deserves a pass mark but also excellence, and that a Vote of Confidence to support and encourage him was indeed in order.

Speaker Yusuf then adopted the motion following overwhelming voice votes in favor of the motion.

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