Taraba
Experts seek Kefas intervention to revive Taraba microfinance Bank
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.
Eleojo Samuel Adaji Jalingo
The Academic Staff Union of Universities (ASUU), Taraba State University has suspended the over one month strike action.
Dr. Joshua Mbaver, the ASUU chairman disclosed in a press release on Saturday that the state has agreed to meet the demands of the union that necessitated the strike action on December 5, 2024.
According to the statement, the strike action was necessitated by the Taraba State Government’s partial implementation
of multiple Memoranda of Understanding (MoUs) and Memoranda of Action
(MoAs) agreed upon with the Union since 2014.
The ASUU chairman further disclosed that key issues under dispute have been addressed with commitments.
“That the Government, through the Governing Council, will enhance university funding in line with Taraba State Law No. 4 of 2008.
“Also, an initial payment of 10% of the total accumulated sum for Earned Academic Allowances (EAA), has been disbursed. Subsequently, 5% of the accumulated sum will be released monthly, commencing in February 2025, until the entire arrears are fully defrayed.
“That, the government has approved the implementation of a State-Defined Pension Scheme, with specific provisions for the prompt and efficient payment of benefits.
“Furthermore, a template for clearing arrears will be finalized by the first week of February 2025.
“That, Membership will be adjusted to comply with statutory requirements for the constitution of the University Governing Council
“That the Government has implemented the new national minimum wage and
consequential adjustments, with a commitment to timely salary payments”. The statement read.
Dr. Mbaver expressed that following the agreements in place, and with the approval of ASUU National, the ASUU-TSU Chapter has suspended the strike action with immediate effect.
“We extend our profound gratitude to ASUU National, the Zonal
leadership, and the TSU Congress for their unwavering support, which has culminated in the successful resolution of this struggle”.
The ASUU chairman commended governor Agbu Kefas for his steadfast commitment and
proactive leadership in resolving the recent dispute.
While expressing the Union’s profound gratitude to all stakeholders whose unwavering support and contributions facilitated the resolution of the strike, ASUU commended the leadership of the Ministry of Tertiary Education,
and the University Administration for their collaborative efforts that has made the resolution possible.
By Eleojo Samuel Adaji
In a decisive blow against illegal arms proliferation, troops of the 6 Brigade Nigerian Army/Sector 3 Operation Whirl Stroke (OPWS) have apprehended a suspected gunrunner, Alhaji Adamu Usman, in Maraban Gassol, Taraba State.
Acting on credible intelligence, the troops launched a precision operation on January 13, 2025, storming the suspect’s residence in Gassol Local Government Area. A search of the property led to the discovery of a fabricated submachine gun, suspected to be part of an illegal arms trafficking network fueling insecurity in the region.
Commander of the 6 Brigade, Brigadier General Kingsley Chidiebere Uwa, hailed the troops’ swift action and professionalism.
He reaffirmed the Brigade’s commitment to rooting out criminal elements and restoring lasting peace in Taraba State.
“The Nigerian Army is resolute in its mission to combat illicit arms proliferation. We urge the public to collaborate by providing credible information to help us address security challenges effectively,” Brigadier General Uwa stated.
The arrest highlighted the growing synergy between military intelligence and community cooperation, marking a significant stride in the fight against insecurity in Taraba State.
By Ben Adaji, Jalingo
Months after the collapse of the Namnai Bridge along the Jalingo-Wukari Federal Highway, cries for intervention from Taraba State have grown louder.
Senator Haruna Manu, representing Taraba Central in the Senate, and other stakeholders are appealing to President Bola Ahmed Tinubu for immediate action to reconstruct the vital infrastructure, which has been out of service since August last year.
The Namnai Bridge, a critical link between southern Nigeria, the North-East region, and the Federal Capital Territory, served as an economic lifeline, connecting Taraba with neighboring states such as Benue, Plateau, and Nasarawa. Its collapse after heavy rainfall has severely disrupted social and economic activities, leaving motorists stranded and communities isolated.
In the wake of the collapse, locals and travelers resorted to temporary measures, such as canoes and ferries, to navigate the river. However, businesses and trade in the region have suffered, with vehicles forced to take a 120-kilometer detour via Garba-Chede-Mutum and Jalingo roads, significantly increasing travel costs and time.
Despite assurances from the state government to install a military floating bridge, no action has been taken, leaving residents frustrated.
Agbu Kefas
Residents are questioning why bridges in other parts of the North-East, such as those along the Yola-Gombe and Gombe-Bauchi roads, have been reconstructed, while the Namnai Bridge remains neglected. Senator Haruna Manu highlighted the disparity, calling for equal attention to Taraba’s plight.
Both Senator Manu and Hon. Ja’faru Yakubu Chiroma, who represents Bali/Gassol Federal Constituency in the House of Representatives, have raised the matter on the floors of their
Senator Haruna Manu
Manu disclosed that he has personally engaged the Federal Road Maintenance Agency (FERMA) and emphasized the bridge’s strategic importance, urging the government to act before the rainy season begins.
Chiroma, who mobilized two ferries to aid stranded motorists after the collapse, has also engaged the North-East Development Commission (NEDC) for intervention. The NEDC has assessed the damage and promised action, but no progress has been seen on the ground.
Prominent Taraba stakeholders warn that if reconstruction does not commence before the rainy season, Taraba risks being cut off from the rest of the country, with dire economic and social consequences.
They urge President Tinubu to prioritize the Namnai Bridge, just as the federal government acted swiftly to address similar challenges in other states.
As the rainy season looms, the people of Taraba wait anxiously for tangible progress, hoping their cries for help will not go unheard.
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