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.

Niger Delta

PDP Declares Edo Airline’s Plan As Misplaced Priority

Published

3 hours ago

January 28, 2026

The Tide

The Edo chapter of the Peoples Democratic Party (PDP) on Friday condemned the state government’s reported plan to establish a state-owned airline.

The party, in a statement by its Edo State Publicity Secretary, Mr. Dan Osa-Ogbegie, described the proposal as a misplaced priority and evidence of poor, disconnected governance.

The Tide’s source reports that the State Governor, Monday Okpebholo, unveiled the airline plan during a meeting with Aviation Minister, Mr. Festus Keyamo, in Abuja.

Osa-Ogbegie said the proposal showed a government out of touch with the pressing challenges confronting Edo State residents.

“At a time of decaying infrastructure and stalled projects, establishing an airline is unrealistic and profoundly insensitive”, he said.

He argued that airlines were capital-intensive and technically demanding, noting that similar state-owned ventures in Nigeria had largely failed.

According to him, Benin has become a shadow of what a modern state capital should be.

He decried poor roads, collapsed urban planning, neglected drainage systems and weak municipal services across the state capital.

“This is a crying shame for a city of Benin’s history, heritage and enormous potential”, he said.

Osa-Ogbegie said several inherited projects had stalled or deteriorated, eroding investor confidence and undermining economic growth.

He accused the governor of pursuing “white elephant projects that offer optics without substance.”

He also cited ongoing flyover projects in parts of Benin as examples of poor prioritisation.

Against this background, he described the airline proposal as diversionary and lacking economic sense.

“When roads are barely motorable and services overstretched, proposing an airline betrays an absence of judgment,” he said.

He urged the government to abandon the plan and focus on people-centred priorities that would improve living conditions and spur growth.

“Edo does not need an airline to fly above its problems. It needs a government ready to confront them on the ground,” he said.

He warned that failure to refocus would deepen perceptions of an administration lacking direction, competence and a coherent development agenda.

News

Oji Clears Air On Appointment Of 15 Special Advisers By Fubara

Published

5 days ago

January 23, 2026

The Tide

The Special Adviser on Political Affairs to the Rivers State Governor, Dr. Darlington Oji, has disclosed that about 15 Special Advisers to the governor were duly approved by the Rivers State House of Assembly before the current political crisis in the State.

Oji made the disclosure in a Television programme in Port Harcourt, recently, while reacting to issues surrounding appointments, the impeachment moves against the governor and his deputy, and allegations of financial mismanagement.

He clarified that the appointment of Special Advisers was carried out in strict compliance with constitutional provisions, and received the approval of the Rivers State House of Assembly under the leadership of the Speaker, Martins Amaewhule, before the crisis began.

According to the Special Adviser, the appointments did not require any further screening, countering claims that the governor violated due process in constituting his advisory team.

On the impeachment proceedings against Governor Siminalayi Fubara, and his deputy, Professor Ngozi Odu, Oji described the process as unfounded and lacking constitutional backing.

He said that several lawmakers who initially supported the impeachment move were now reconsidering their stance after discovering that the process had no legal basis.

Oji also attributed the impeachment plot to personal and political ambitions, saying it is not motivated by the interest or welfare of the people of Rivers State.

Speaking on the financial position of the State after the Emergency Rule, the Special Adviser disclosed that the governor met about ?600 billion in the state’s coffers upon assumption of office.

He explained that the availability of funds enabled the administration to continue governance smoothly without the need for a supplementary budget.

The governor’s aide also refuted allegations of financial mismanagement against the governor, and stressed that all allocations to lawmakers and constituency projects were transparently handled.

He maintained that the Fubara administration remained focused on development, stability, and good governance despite the political distractions in the State.

Oji expressed confidence that the impeachment moves would eventually be abandoned as legislators and the public become more informed, adding that the governor’s leadership has continued to reassure citizens and sustain political stability in the State.

King Onunwor

Politics

Rivers Political Crisis: PANDEF Urges Restraint, Mutual Forbearance

Published

2 weeks ago

January 12, 2026

The Tide

The Pan Niger Delta Forum (PANDEF) has called for restraint and mutual forbearance over the recent political development in Rivers State.

The Forum has also set up a high level Reconciliation Committee chaired by a former Attorney-General and Minister of Justice the Federation, Chief Kanu Agabi (SAN).

This is contained in a press statement released in Abuja on Saturday.

The statement was jointly signed by PANDEF’s Board of Trustees Co-Chairmen, Chief Alfred Diete-Spiff, and Obong Victor Attah (a former governor of Akwa Ibom State), as well as PANDEF’s National Chairman, Chief Godknows Igali.

Accordingg to the statement, the Board and National Executive Committee of PANDEF, noted with very grave concern the recent spate of political developments in Rivers State.

“Regrettably, these developments have now degenerated into the decision of the Rivers State House of Assembly to commence impeachment proceedings against the governor and deputy governor.

“This is a deeply disturbing situation that demands urgent attention in order to forestall further escalation and breakdown of law and order.

“This concern is heightened by the critical importance and strategic centrality of Rivers to the Niger Delta region and to the broader socio-political stability and economic wellbeing of Nigeria as a whole”, the statement said.

The Forum called on all parties involved in the resurgent political imbroglio to sheathe their swords and embrace peace.

“This should be guided by the principles of give-and-take, dialogue, tolerance, and political equanimity.

“All stakeholders must place paramount importance on peace, development and the welfare of the people of Rivers.

“We must now focus squarely on good governance and development of the state,” the Forum said.

PANDEF commended President Bola Tinubu, the leadership of the All Progressives Congress (APC), respected elders of Rivers State, and other well-meaning Nigerians for their previous and ongoing efforts aimed at restoring peace and stability in the state.