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Reps Ask CBN To Explain Transactions On Excess Crude Account
The House of Representatives has urged the Central Bank of Nigeria (CBN) to reveal without delay, all the interests and principal sums on the investments in the Excess Crude Account (ECA) Petroleum Profits (PTT) and Royalty Account to the Auditor-General for the Federation’s Office.
The call was sequel to a unanimous adoption of a motion by Rep. Esosa Iyawe (LP-Edo) at plenary, yesterday.
Moving the motion earlier, Iyawe said that the CBN is the banker to the Federal Government’s Banker and custodian of investment vehicles, including the PPT and the ECA among others.
He said that the 2015 Annual Report of the Auditor-General for the Federation showed that an interest of One hundre and $1.82 million dollars was deposited in the ECA as interest on Investments.
According to the lawmaker, there were no details as regards the principal sums deposited, the tenor and the interest rate.
“The CBN has flagrantly and consistently refused the requests by the Auditor- General for the Federation to disclose the details regarding the management of interests accruing from the PPT/ Royalty and Foreign Excess Crude Account;
“Reports which revealed unapproved and indiscriminate withdrawals from the ECA, including current year expenditures, fuel subsidies, debt financing and power projects, all of which are outside the fund’s mandate.
“Disturbed that the 2016 audit report revealed the disappearance of over $9.5 million interest accrued from the PPT investment,” he said.
Iyawe said that obscurity has consistently characteried the management of interests accruing on Federal Government investments, which is in contravention of the accountability principle, and points to misuse of much-needed government funds.
The rep said that the ECA has been riddled with controversy, allegations of corruption, and uncertain performance.
According to him, its absence of rules governing deposits, withdrawals and investments led to the Natural Resource Governance Institute ranking Nigeria as the second-most poorly governed fund among 34 resource-rich nations.
He said that over the years, the ECA has consistently borne allegations of mismanagement along with a barrage of lawsuits challenging its legality as there is no law backing it.
Iyawe said that experts have raised concerns several times over ECA’s balances which seem to change at will without any corresponding evidence of withdrawals or approvals of such withdrawals.
He said that the lack of transparency from the CBN has significantly affected the revenue accruable to the Federation Account, as well as undermines the Federal Government’s efforts to plug leakages, reduce corruption, and improve revenue for the Federation.
The house resolved to set up an Ad-hoc Committee to determine the legality of ECA and investigate the status and management of all the principal sums deposited, tenor, and interest rate of the PPT/Royalty and ECA from 2015 to date.
In his ruling, Deputy Speaker Benjamin Kalu, mandated the committee, when constituted to ensure compliance.
News
NPF Warn Applicants Ahead Of Constable Recruitment Exam
The Katsina State Police Command has cautioned applicants for the upcoming police constable recruitment examination to adhere strictly to laid-down procedures and avoid falling victim to fraudsters.
The Commissioner of Police, Ali Umar-Fage, issued the warning in a statement released on Sunday by the command’s spokesperson, Abubakar Sadiq-Aliyu.
He disclosed that the nationwide examination is scheduled to take place from April 28 to April 30 in Katsina State and that the exercise will be conducted at Hassan Usman Katsina Polytechnic along Dutsin-Ma Road.
According to the commissioner, only candidates who successfully passed the recently concluded physical and credential screening will be eligible to sit for the examination.
Applicants have been directed to log on to the official recruitment portal from April 24 to print their coloured examination invitation slips, which contain details of their specific date, time, and venue.
Mr Umar-Fage stated that candidates must present a valid National Identification Number (NIN) slip issued by the National Identity Management Commission (NIMC), bearing a clear photograph, alongside their printed coloured invitation slip and a writing pen at the examination centre.
He added that the approved dress code for the exercise is a white T-shirt, white shorts, and white canvas shoes.
Reiterating that the recruitment process is entirely free of charge, the police chief warned applicants to be wary of individuals or groups seeking to extort money under the guise of facilitating recruitment.
News
Monarch Pledges Strong Action Against Gender-Based Violence
The Rivers State Traditional Rulers Council has pledged to take decisive action to curb the rising cases of gender-based violence (GBV) across the state, in partnership with ActionAid and other relevant organisations.
The commitment was made during an event organised by ActionAid in collaboration with the Rivers State Ministry of Social Welfare and Rehabilitation in Port Harcourt. The programme, titled “Convening of Traditional Rulers for GBV Prevention,” carried the theme, “From Custodians to Champions: Redefining Culture for GBV Prevention and Community Protection.”
Speaking on behalf of the council, the Okilomuibe of Engenni Kingdom, HRM King Moore MacLean Ubuo, said traditional rulers are determined to move beyond mere responses to incidents of violence by adopting proactive strategies.
“We will establish and empower community-led structures, including traditional cabinets and women leaders, to identify early warning signs of violence and intervene before harm occurs,” he said.
King Ubuo added that traditional institutions are committed to enforcing the Violence Against Persons Prohibition (VAPP) Law within their domains, stressing that the longstanding culture of silence surrounding abuse would no longer be tolerated.
“We will ensure that our subjects understand their rights and that the law is respected as the ultimate standard for justice,” he added.
Also speaking, the Rivers State Government emphasised that tackling GBV requires more than policies and enforcement, noting that a transformation in societal attitudes is essential.
Permanent Secretary of the Ministry of Social Welfare and Rehabilitation, Mrs. Lauretta Dimkpa, who was represented by the Director of Child Welfare, Mrs. Fumilayo Adebayo, highlighted the critical role of traditional rulers in shaping societal values.
“As traditional rulers, your voices command respect, your decisions influence behaviour, and your institutions are trusted platforms for conflict resolution and social guidance,” she said.
She urged them to promote cultural norms that uphold dignity, respect, and equality, while also encouraging victims to report abuse without fear of stigma.
In his remarks, the Country Director of ActionAid Nigeria, Dr. Andrew Mamedu, described the gathering as timely, noting that GBV remains a widespread violation of human rights and a major obstacle to sustainable development.
Represented by Dr. Adedeji Ademefun, he cited data showing that 31 per cent of Nigerian women aged 15 to 49 have experienced physical violence, with many cases going unreported due to fear, stigma, and cultural silence.
“National surveys indicate that nearly three in ten women have experienced physical or sexual violence, underscoring the scale and urgency of this crisis,” he said.
Earlier, the Coordinator of the Rivers State Multi-Stakeholders Action Committee, Barrister Evelyn Asimie Membere, described GBV as one of the most persistent human rights violations, cutting across age, class, and geography.
According to her, traditional rulers are uniquely positioned to influence behaviour and drive meaningful change at the grassroots level.
“In many of our communities, your voice carries more weight than any policy or legislation,” she said.
The event brought together key stakeholders committed to strengthening community-based approaches to preventing GBV and protecting vulnerable groups across Rivers State.
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Tinubu Support Group Canvasses Second Term For President Ahead Of 2027
A socio-political group, the Tinubu Youths Vanguard Organisation (TYVO), Rivers State chapter, has called on Nigerians to support the re-election of President Bola Ahmed Tinubu in 2027, citing the need to consolidate ongoing economic and infrastructural reforms.
The State Coordinator of the group, Hon. Emmanuel Fubara, made the appeal over the weekend in Port Harcourt on the sidelines of a meeting of the Southern Traditional Rulers Council.
He said granting the Tinubu administration a second term would enable it to fully implement its transformation agenda, particularly under the Renewed Hope initiative.
“It is important that the Tinubu administration is given another opportunity to complete its economic and developmental programmes for the benefit of the country,” he stated.
Fubara disclosed that the group is preparing for its formal inauguration in the State, along with the unveiling of its local government, ward and unit structures, including student and market women wings.
According to him, the organization will be fully mobilised to promote the policies and achievements of the current administration, with a focus on issue-based campaigns aimed at restoring public confidence in the nation’s economy.
He noted that the administration has made strides in revamping the economy and executing key infrastructure projects, including the ongoing coastal road development in parts of the country.
Fubara expressed confidence that the group’s campaign strategies would resonate with Nigerians, adding that opposition voices would be effectively countered through sustained grassroots engagement.
He also urged members of the group to intensify sensitisation efforts across communities, highlighting what he described as visible results of the administration’s reforms.
On security challenges facing the country, Fubara said the situation was inherited from previous administrations but maintained that the current government is taking decisive steps to address it.
He expressed optimism that ongoing efforts, including international collaborations, would significantly curb insecurity in the near future.
When asked whether the group would also campaign for Rivers State Governor, Sir Siminalayi Fubara, the TYVO coordinator said the organisation would take a position at the appropriate time, noting that directives from the All Progressives Congress (APC) would guide its activities.
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