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Taraba

Experts seek Kefas intervention to revive Taraba microfinance Bank

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Agbu Kefas

Eleojo Samuel Jalingo

Financial experts in Taraba State, are seeking governor Agbu Kefas intervention to revive the liquidated Taraba State Microfinance Bank.

Investigation by our reporter shows that the circumstances that led to the closure of the bank was faulty and politically motivated as the last administration failed to adhere to the report submitted by a committee set up to investigate the activities of the financial institution and also a court order stopping the Central Bank of Nigeria (CBN) from liquidating the bank.

National update gathered that in May 2023 the CBN liquidated the Microfinance Bank and directed the Nigeria Deposit Insurance company (NNDIC) to sell off the assets of the bank.

But in swift reaction the Board of the bank approached the Federal High court Jalingo and also wrote the CBN in a letter dated 10th June 2023 challenging its decision.

These two efforts yielded positive results as the Federal High Court sitting in Jalingo gave CBN an interim injunction stopping the liquidation exercise pending the suit before it.

Also, the letter written by the board to the Central Bank of Nigeria was honoured as the Apex bank, in a letter dated 11th July 2023 directed the bank to recapitalised to the minimum capital requirement of N1billion to enable it operate a statewide microfinance bank

Also because the last financial statement submitted by the bank before the liquidation showed a net loss of Six Hundred and Ninety Million Two Hundred and Ninety thousand Naira (N690,290,000).

The apex bank requested the micro bank to recapitalizated One Billion, Six Hundred and Ninety Million, Two Hundred and Ninety Thousand.(N 1,690,290,000) to cover the minimum recapitalization requirement and the loss in the books of the bank.

Our investigation further reveals that the bank was given an initial window of Ten working days and weeks with another additional window of two weeks, however the first and second window elapsed without the state government taking advantage of it.

Financial experts in the state have continued to express concerns over the development, saying the lack of state owned Microfinance bank is causing the state to lose Billions of Naira.

Speaking to our correspondent the former Managing Director of the defunct bank, Nasiru Baba, said apart from denying rural communities in the state of assessing financial services the state is losing a lot of financial grants.

He said within this period, the CBN under the administration of President Bola Tinuba has given out billions of naira to support Micro funding through various Micro Finance Bank across the country, particularly to alleviate the suffering in the country, but Taraba State has not been benefiting from any of such intervention due to lack of state own Micro Finance Bank.

Mr. Baba then appealed to Governor Kefas, to intervene in saving the bank as CBN is willing to restore the license of the bank if the basic requirements are met.

Olayinka Gabriel, a Chartered Accountants and CEO Taraba Business School, said if the government is serious about resolving the crisis within the bank it can be resolved within 7 days.

“I have studied different reports concerning the bank and I have come to the conclusion that it is the political will of the Kefas led administration that can resolve the crisis of the bank.” He said

He said the state government needs to sit down with the dissolved board members and resolve all legal tussles.

According to him the bank currently has 18 different cases, two at the Supreme court, 6 at both Jalingo and Abuja federal High Court, and others at upper area court and Magistrate courts.

He said the withdrawal of these cases by both Taraba Investment and Properties Company and the board members of the bank will clear the way for the bank to recapitalise and explore its strategy.

Another Expert Maurice Agor who is the chairman of Taraba State chapter of the Institute of Chartered Accountants of Nigeria (ICAN), also said under the current situation the bank only needs a political solution to be revived.

“All the parties involved in the various legal tussles must be prepared to make sacrifices for the interest of the bank and its growth.

He said the CBN will not recognize any decision outside the one taken by the board, the board need to be reinstate, the government can ask the board members to resign with a promise of giving them another position into either board or parastatal or other political appointment, this way, a new board can be constituted with forward thinking individual that can move the bank forward.

He said anything outside a political solution will not solve the current problem of the bank.

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Taraba

Taraba State in Crisis: Government Activities Grind to a Halt as Billions Vanish

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Agbu Kefas

By Eleojo Samuel, Jalingo

Taraba State is teetering on the brink of financial collapse amid allegations of widespread mismanagement and diversion of state resources under Governor Dr. Agbu Kefas.
With government activities at a standstill, the state treasury is reportedly empty, leaving essential services and infrastructure projects abandoned.

Governor Kefas’s conspicuous absence from the state for over three months has fueled speculations of a deep financial crisis.
Observers point to the suspension of all ongoing projects and the state’s ballooning debt profile as clear indicators of fiscal mismanagement. Despite securing over N250 billion in bank loans during his first 18 months in office—funds earmarked for critical infrastructure such as urban and rural roads, hospitals, and educational facilities—there is little to show in terms of tangible development.

While Governor Kefas has championed free education as a hallmark of his administration, critics argue this initiative is superficial, with many of its promised benefits remaining unfulfilled.
More alarming is the absence of any completed projects, including the failure to construct even a single kilometer of road since assuming office.

Sources revealed that despite the massive loans, contractors have abandoned key projects, including the remodeling of the Government House, the construction of a Trade Fair complex, and the renovation of state institutions like the College of Agriculture and the School of Nursing in Jalingo.
The much-touted Green House project, previously criticized as a conduit for siphoning public funds during former Governor Darius Dickson Ishaku’s tenure, has reportedly consumed over N2 billion under Governor Kefas, with little progress to justify the expenditure.

The question on every Taraban’s lips is simple: Where is the N250 billion? Allegations suggest the funds have “developed wings,” with some insiders claiming the money has been diverted for personal enrichment and political patronage. It is alleged that N100 billion of the loans were funneled back to Governor Kefas’s political godfather, a retired general from the state, as repayment for financing Kefas’s 2023 gubernatorial campaign.

Moreover, the state’s ability to meet basic financial obligations is under threat. The monthly deductions to service the massive loans have reportedly left insufficient funds to pay workers’ salaries, forcing the government to rely on overdrafts from commercial banks.

Investigations further reveal that allocations meant for the state’s 16 local government areas are being diverted to cover state-level debts. This includes the alleged misappropriation of N7.36 billion in federal intervention funds, initially intended for local governments but used instead to partially settle salary arrears for lecturers at Taraba State University, who had been on strike since November.

Another N2.3 billion, reportedly allocated for the purchase of 10,000 metric tons of grains for food security, has also gone missing, with no grains found in government warehouses. Despite introducing a new levy of N1,000 per grain bag to boost internally generated revenue (IGR), funds from this initiative are allegedly being siphoned by officials within the Ministry of Agriculture and the Board of Internal Revenue.

The agriculture sector, once seen as a beacon for diversifying the state’s economy, has not been spared from controversy. Over N2 billion allocated for the purchase of tractors last rainy season allegedly vanished, with only 30 tractors delivered as a token gesture. Similarly, funds earmarked for fertilizer distribution never reached farmers, further crippling agricultural productivity.

Accusations of complicity have been leveled against the Accountant-General’s Office, the State Ministry of Finance, and the Bureau for Local Government and Chieftaincy Affairs, suggesting a coordinated effort to divert public funds.

Facing mounting criticism, Governor Kefas addressed the allegations during an award presentation by the National Association of Nigerian Students (NANS) in Jalingo, where he was honored as a “Students’ Friendly Governor.” He dismissed his critics as impatient, stating, “I heard people complaining that I am not working and not executing projects. Such people are just in a hurry. What I am doing now is laying a foundation for incoming governors to build on.”
In response to the accusations, Hon. Emmanuel Bello, Senior Special Assistant on Media to the Governor, vehemently denied claims of financial mismanagement.
“Taraba is not broke. I don’t know how anyone can say that. Our IGR has improved considerably due to the hard work of the sagacious governor and his team,” Bello stated. He insisted that ongoing projects had not been abandoned but were undergoing technical reevaluation.
“This is the year of infrastructural development in roads and bridges. Our 2025 budget reflects this commitment,” he added.
Despite these reassurances, the people of Taraba remain skeptical, demanding transparency and accountability from an administration they once believed held the promise of transformation. With the specter of direct federal allocations to local governments looming, many wonder how Governor Kefas will navigate the growing financial quagmire without further eroding public trust.

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Taraba

Troops Raid Bandit Hideout in Taraba, Arrest 23, Recover Weapons

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By Eleojo Samuel, Jalingo

In a decisive offensive against banditry, troops of the 6 Brigade Nigerian Army and Sector 3 Operation Whirl Stroke (OPWS) have neutralized a bandit camp and arrested 23 suspects, including four females, in Angwan Bala, Kambari area of Karim Lamido Local Government, Taraba State.

Acting Assistant Director of Army Public Relations, Capt. Olubodunde Oni, revealed that the operation was based on credible intelligence regarding the movement of suspected criminals in the area.

“On sighting the patrol team, the bandits opened fire, prompting an immediate and overwhelming response from our troops,” Oni stated.
One bandit was neutralized, while others surrendered without resistance. A thorough search of the camp led to the recovery of a large cache of arms and ammunition, including, 4 AK-47 rifles, 5 AK-47 magazines, 80 rounds of 7.62mm special ammunition, 1 English-made pistol and 2 locally made guns
Others he said included,28 cutlasses, 16 motorcycles and 48 daggers and jack knives
Preliminary investigations revealed that the bandits had migrated from Plateau State and paid ₦1.5 million to a local chief in Amar village to establish their hideout.

Reacting to the successful operation, Commander 6 Brigade, Brigadier General Kingsley Chidiebere Uwa, reaffirmed the army’s commitment to eliminating criminal elements and restoring lasting peace.

“This operation sends a clear message that Taraba State will not be a safe haven for terrorists. We will continue working with stakeholders to rid the region of criminality,” he declared.

He urged the public to remain vigilant and report suspicious activities, emphasizing that community cooperation is crucial in the fight against insecurity.

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Taraba

NANS threatens protest against FG over abandoned Jalingo-Numan road

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Lucky Emonefe

Eleojo Samuel Adaji Jalingo

The National Association of Nigerian Students (NANS) on Saturday issued a 14 days ultimatum to the Federal Government to fix the abandoned Jalingo, Numan road or face mass protest.
Mr Lucky Emonefe, National President of NANS issued the warning at the 3rd Inauguration Ceremony of the North East Zonal Executive Council of the union in Jalingo, Taraba State on Saturday.
Emonefe warned that the union would not hesitate to relocate it’s national secretariat from Abuja to the North East if the federal government fails to take action on the road after the expiration of the ultimatum.

He described the road as one of the worst roads in the country, stating that the deplorable situation of the road was a threat to the life of Nigerian Students.
“The national association of Nigerian students have declared a state of emergency on the Jalingo Numan road which contract was awarded several years ago but was abandoned by the contractors
“The road is one of the worst roads in Nigeria and is a death trap to Nigeria students, especially in the North East.

“We are calling on the authorities concerned, especially the Federal Ministry of Works to order the contractor to return to site and commence work on the road.

“We are therefore, issuing a 14 days warning to to the Federal government to take action on the road or NANS will relocate it secretariat to the north east,” he warned.

The president commended Gov Agbu Kefas of Taraba for his students friendly policies in the state.

He described the governor as the best education friendly governor in Nigeria, citing the implementation of free education policy as well as a slash in 50 per cent school fees for tertiary institutions in the state as commendable effort.

The President advised other governors to emulate the template adopted by the governor of Taraba on education.

Emonefe also thanked President Bola Tinubu for the introduction of students loan.

He said that students had benefited from the ‘Renewed Hope Agenda’ of the administration, and called on all the students to support the Tinubu administration to succeed.

The President further advised the newly inaugurated Zonal Coordinator of the union to carry all students along in his administration.

Earlier, Mr Umar Afkawa, the newly sworn in Coordinator of the NANS in the North East said that his vision was to improve the welfare services of students in the zone.

Afkawa also promised that he would ensure academic excellence, security and safety of the students, empowerment and entrepreneurship among others.///.

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