Politics

N’Assembly Queries CBN’s Alleged Extravagance

Published

10 years ago

February 26, 2016

The Joint Committee of
the Senate and House of Representatives on Banking and Currency has queried the nation’s apex bank, the Central Bank of Nigeria (CBN) for allegedly spending N1.062 trillion revenue above the N482.167 billion proposed income for the year 2015.
“CBN is developing a culture of spend as I earn attitude,” the lawmakers said, arguing that the bank should have remitted N400 billion operating surplus to government’s treasury.
The lawmakers also queried an alleged astronomical increase in staff cost from N158.134 billion in 2015 to N408.808 billion as proposed in 2016 budget; and non-inclusion of commission for brokers, Dutch income, in its budget proposal.
They wondered why the CBN should spend N780 million on the dealing room, N226 million for recruitment, N1.5 billion on research, N75.980 billion loss incurred from SWAP, N.8 billion on data collection and about N1 billion on Entrepreneurial Development Centre.
The committee, therefore, demanded for CBN’s financial statement, nominal roll, details of foreign and domestic investments, among other contentious issues raised at the meeting.

Politics

LP Crisis: Ex-NWC Member Dumps Dumps Abure Faction

Published

2 days ago

March 2, 2026

The Tide

A former National Organising Secretary of the Labour Party (LP), Mr Clement Ojukwu, has expressed regret that the several legal cases brought against the party since the 2023 general elections have impacted the party’s performance.

Mr Ojukwu, who recently returned to the interim National Working Committee led by Senator Esther Nenadi Usman, noted that the party had 34 elected members in the House of Representatives, eight Senators, and 80 members at the state Houses of Assembly after the 2023 general elections.

“Now we lost all of them,” he said. “I don’t think we have as many as five members in the National Assembly.”

The former national officer of the LP talked to journalists in Abuja and said he chose to join the caretaker committee led by Senator Nenadi-Usman because they are now the officially recognized leaders of the Party.

“I chose to work with the caretaker committee to help save the Labour Party, for the benefit of the party. I also want to use this chance to ask my colleagues at the national, state, and local government levels to come together and help rebuild our party.

“Another election is around the corner. We lost everything we have. They have left to other political parties. So I’ll reach out to all my friends in the other group to get together and work on making this party stronger again.

“The caretaker committee has formed a reconciliation committee. Let’s come together and talk so that we can restore the first opposition political party in Nigeria.”

Mr Ojukwu, who was part of the Julius Abure’s group, said there are no more factions in the LP.

He added, “There is a court ruling, and since it is valid, the right people are in the correct positions.”

He urged Barr Abure and others to drop the legal cases they have filed because they are not helping the party.

“Litigations are killing political parties”, he said. “They’ve seen many political parties disappear because of legal battles, and the Labor Party is losing support every day, which makes me feel sad.”

Mr Ojukwu said he did not think joining the Senator Nenadi-Usman’s NWC was a betrayal of the Abure group, describing himself as “the oxygen” of that faction.

“I’m with this group because of the verdict. But I never betrayed anybody. Rather, I was betrayed,” he added.

Politics

2027: NIGERIANS FAULT INEC ON DIGITAL MEMBERSHIP REGISTER DIRECTIVE

Published

2 days ago

March 2, 2026

The Tide

A number of Nigerians have strongly criticized the Independent National Electoral Commission (INEC) for its directive to all political parties in the country to submit digitalized membership register within 32 days.

It would be recalled that the Independent National Electoral Commission (INEC), following it’s reversed timetable, directed all political parties in the country to submit their digitalized membership registers within 32 days.

Speaking on the reversed timetable in an interview with The Tide in Port Harcourt, respondents said the directive amounted to disqualifying opposition political parties from fielding candidates in all the elections next year.

They said if the directives by the commission is implemented, only the All Progressives Congress (APC) would participate in the elections since it started it’s digital membership registration since February, last year.

Responding, an elder statesman in Rivers State, Chief Sunnie Chukumele, said the revised timetable was okay, but the timeframe for submission of digital membership register was being made at the wrong time.

Chief Chukumele said, for the past two years, all opposition political parties have been battling various issues in court, adding that they did not have the time to embark on membership drive, talk less of digitalizing their membership registers.

“My reaction is that the only issue with this revised timetable is the timeframe given by INEC for parties to submit digitalize memberships register in all the states of the federation, while giving notice of Congresses and convention. That is not possible”, he said.

He said only the ruling APC is likely to meet up with the directive, since it began its registration since last year.

Chief Chukumele, who is also the National Coordinator of Coalition of Rivers State Leaders of Thought (CORSLOT), alleged that the directive of the electoral body may have been targeted to prevent other parties from fielding candidates for the elections next year.

“When you say all the parties should submit digitalized registers of membership in 32 days, how will that be possible to conclude it in 32 days”, he queried.

He noted that “APC used one year ago to do, so APC has one year in the kitty plus 30 days. This is highly regrettable”.

The CORSLOT national leader urged the election umpire to do away with stringent conditions that will make it hard for opposition political parties to field candidates in the elections.

Also speaking, Mr Jacob Enware from Edo State queried the rationale behind the directive, especially when some opposition political parties are still having cases in court.

In his words, ”What opposition political parties are you talking about, is Labour Party not in court or PDP that is yet to resolve their issues?

”For me, INEC should provide a level playing field for all, because aside the APC, no party can meet up this criteria.”

In his own response, Mr Nathaniel Ebere said he was not prepared to vote for anybody whether INEC provides a level playing field or not.

He alleged that his vote would not count, “so I will not waste my time”.

By: John Bibor

Politics

IT’S A LIE, G-5 GOVS DIDN’T WIN ELECTION FOR TINUBU – SOWUNMI

Published

2 days ago

March 2, 2026

The Tide

A chieftain of the Peoples Democratic Party (PDP) and Convener of The Alternative, Otunba Segun Sowunmi, has expressed reservations about the political stance of Oyo State Governor, Seyi Makinde, while calling for reconciliation among key party figures.

Otunba Sowunmi made the remarks during a television interview on Saturday, when asked about the relationship between Gov. Makinde and the Minister of the Federal Capital Territory (FCT), Chief Nyesom Wike.

He said, “I don’t believe Seyi Makinde. Because I know them all. I’ve been in this party since it was registered. And I’ve been loyal, faithful, diligent with this party from the get-go, and I’ve never left.”

He underscored his longstanding commitment to the PDP, referencing prominent figures who had exited the party at different times: “I’ve had the grace, and the honor, and the dignity of watching even my father, Obasanjo, shed his card. As much as I love him, I didn’t leave the party”.

He added, “I’ve had the privilege of watching my beloved senior brother, Governor Gbenga Daniel, leave the party a few times. As much as I respect his vision and his ideas, I’ve never left. I’ve watched my former principal, Atiku Abubakar, leave a few times. I’ve never left.”

Otunba Sowunmi stressed that his comments were rooted in deep involvement with the party: “So when I talk about PDP, I’m not talking as an outsider, I’m talking as one of their totems, who was actually carrying them.”

He disclosed that he wrote to Makinde during the governor’s last birthday, urging reconciliation among a bloc of five governors who had formed a movement during the 2023 elections.

“At Governor Seyi Makinde’s last birthday, I wrote him a letter where I tried to say, look, you guys, the five of you, succeeded to the extent of creating a movement of your own”, he said.

He added, “And you fought very hard to make a point in the 2023 election. Although I don’t believe you won the election for the president, that’s a lie. They contributed, but I hate when people take the glory of other people’s work.”

Otunba Sowunmi warned that unresolved differences among the group could weaken the party: “You guys, you must go back to your four friends, your five friends, and you guys go and sort it out. Because not sorting it out with your five friends is going to leave the party worse off.”

He added, “But now that you’re fighting, or you’re not agreeing with yourselves, why don’t you go back to that same energy that allowed you to agree, so that you can use that energy inside to agree, and then we can lead the party.”