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Senate Summons Seven MDAs Over Alleged Lopsided Disbursement Of N500bn Loan
Senate has commenced investigation over alleged uneven disbursement of half a trillion naira loans to the Micro, Small and Medium Enterprises scheme, (MSMEs) in the six geo-political regions by the Development Bank of Nigeria, (DBN).
The adhoc committee in furtherance of its mandate has summoned seven Ministries, Departments and Agencies, MDAs for interface over the alleged lopsided disbursement.
The MDAs summoned are the Ministry of Finance, Budget and National Planning; Ministry of Trade and Investment; Central Bank of Nigeria, (CBN) Development Bank of Nigeria, (DBN) Small and Medium Enterprises Development Agency, (SMEDAN); Bank of Industry (BoI) and the Bank of Agriculture (BoA).
The Senate had constituted an adhoc committee, following a November 16 resolution at the plenary on a motion titled: “Uneven Disbursement of half a trillion naira loan to six geo-political regions by the DBN.”
The mandate of the committee, chaired by Senator Sani Musa (APC Niger East) was to carry out a holistic investigation on disbursement of the loan by DBN since inception of the bank.
Speaking at the maiden meeting of the committee on Tuesday, Senator Musa said the purpose of the meeting was to map out strategies and modalities that would assist the committee execute the onerous assignment.
He, however, said although the investigation seems very daunting, with patriotism, cooperation and commitment, the committee would succeed.
Senator Musa explained that the establishment of DBN was to drive the effectiveness of MSMEs and the environment they operate, adding that its establishment was a good idea by the Federal Government and its development partners.
The chairman added that the key objective of the DBN was to tackle constraints faced by MSMES through provision of finance and partial credit guarantees to eligible financial intermediaries on a market conforming financial sustainable basis.
He, however, said that there are worries on the disbursement methodology employed by the bank and lack of awareness of its operation, saying that not every MSMEs in the regions , especially in the North knows about the bank.
According to him, the committee will effectively and thoroughly investigate activities and operations of the DBN to ascertain if it conformed to its establishment Act, followed due diligence in execution of its mandate.
Senator Musa said the committee was not out to witchhunt any one, but would evaluate the criteria that qualify MSMEs to access the loan and at what interest rate.
He said the committee would also review the total amount disbursed to beneficiary MSMEs from inception to date and total recovery if any.
The chairman also said the committee would examine the source of funding of DBN including contributions from development partners.
Presenting the motion on November 16, Senator Ali Ndume (APC Borno South), said the investigation was part of what was happening in the financial sector that government deliberately created to address poverty.
According to him, what happened in DBN was unfortunate, saying that his submissions on the motion on uneven distribution of the MSMEs loan was not an allegation but a fact that has not been disputed by DBN.
By: Nneka Amaechi-Nnadi, Abuja
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Akpabio Withdraws All Defamation Suits After Priest’s Sermon
The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.
Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.
He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.
“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”
In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.
In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.
Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.
Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.
The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.
With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.
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‘Best Way To Show Gratitude Is To Deliver Tinubu in 2027’
Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.
Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.
He said that the State has what it takes to deliver the President during the 2027 general elections.
“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”
Fubara expressed delight over the completion of the project, stating that the initiative was to provide accommodation, a basic need of life for public servants in the state to improve their productivity.
He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.
“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.
Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.
In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.
She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.
Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.
“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.
In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.
He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.
The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.
Giving the project description, Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.
Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.
Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.
By: Taneh Beemene
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