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Senate constitutes ad-hoc committee over uneven disbursement of N500bn Loans by DBN

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Senate has constituted an adhoc committee to investigate alleged uneven disbursement of half a trillion naira loan to the six geo-political zones by the Development Bank of Nigeria, (DBN).

The red chamber, in its resolutions on a motion sponsored by Senator Ali Ndume (APC Borno South) and co-sponsored by Senator Ibrahim Bomai (APC Yobe South) on Wednesday, urged the bank to ensure equitable disbursement of the loan to all the zones and also expand its facilities beyond the sectors already captured.

The top five sectors considered for the loan are oil and gas (42.0%), manufacturing (16.0%), agriculture, forestry and fishery (7.2%), trade and commerce (6.3%), and transportation and storage (3.5%).

Deputy President of the Senate, Senator Ovie Omo-Agege, who presided over the plenary, named the chairman, Senate Committee on Banks, Insurance and other financial institutions, Senator Sani Musa as the chairman of the adhoc committee while Senators Ibrahim Danbaba (North West); Ayo Akinyelure (South West); Mathew Urhoghide (South South); Ali Ndume (North East); Uche Ekwunife (South East) and Sadiq Umar from the North Central as members.

The committee was given two weeks to do its findings and report back to the plenary.

While resenting the motion, Senator Ndume alleged that there is a huge disparity and uneven disbursement of half a trillion naira loan to the six geo-political zones and states in the country in 2021 by the DBN.

He specifically mentioned Lagos State as the major beneficiary with 47 percent of the total loan while the entire Northern region gets 11 percent.

The lawmaker said: “The bank’s Annual Integrated Statutory Report 2021 obtained on 13th July, 2022 from the organization’s website, indicated that it was able to disburse a loan worth N483,000,000 only out of which only 11% went to the 19 states of Northern Nigeria while 47% went to Lagos State alone.

“The 11% of the loan that went to the North totals about N53,130,000,000 and that the 47% that went to Lagos State alone totals N227,010,000,000 only.”

Senator Ndume expressed concern that “the loans were given to the the six geo-political zones, where the data showed that the South West accessed the lion’s share with 57% of the total loan, which is estimated to be around N273,740,000,000 only.”

He also expressed concern that “the South South accessed 17% which is roughly N81,940,000,000 only the Federal Capital Territory, FCT and the North Central accessed 11% which was N53,020,000,000 only, South East accessed a paltry 9% which was roughly N43,380,000,000 only, the North West, which has 5% accessed N24,100,000,000 only, while the North East accessed only 1%, the least share of the total loan at roughly N43,820,000,000 only.”

According to him, the DBN exists to alleviate financing constraints faced by the Micro, Small and Medium Scale Enterprises, MSMEs in Nigeria through providing finance, partial credit guarantees, and technical assistance to eligible financial intermediaries on a market-conforming and fully financially sustainable.

He, however, noted that lack of awareness of the existence of the loan or even the DBN, religious belief that precludes Muslims from taking interest loans, and lack of formalization of business as most loans require that one has a registered company, corporate bank account and a good business plan have hampered the uneven disbursement.

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Legislature

Senator Ningi resumes from suspension

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After staying away for 75days out of 90 days suspension slammed on him by the Senate on March 12, 2024, Senator Abdul Ningi ( PDP Bauchi Central), formally resumed legislative activities at the Senate on Tuesday in plenary.

On the strength of motion sponsored by the minority leader Senator Abba Moro on behalf of minority caucus, the Senate recalled Senator Ningi from the three months suspension
Recall that Senator Ningi was suspended by the Senate at the committee of the whole on 2024 budget padding allegation leveled against the Senate during interview he had with the BBC Hausa service.
The Senate had recalled the Lawmaker representing Bauchi Central, Abdul Ningi after 2 Months and two weeks of the 3months suspension slammed on him over his interview in which he alleged padding of the 2024 N28. 7tn budget.

The lawmaker was suspended on the 12th of March, 2023 for three months, but the Senate on Tuesday unanimously resolved to  recall their colleague from suspension.

Recall that, Senator Olamilekan Adeola had come under Orders 9, 10, 41, and 51 to move a motion of privilege and issue of national importance against Ningi over his interview with the British Broadcasting Corporation (Hausa Service).

Ningi had, in the interview alleged that the budget passed by the National Assembly for the 2024 fiscal year is N25tn while the one being implemented by the Presidency is N28.7tn. 

The motion, for the unconditional recall of Senator Abdul Ningi was sponsored by the minority leader Senator Abba Moro, Senator Olalere Oyewumi and Senator Osita Ngwu.

Apparently elated to be back in the Senate, Senator Ningi was among the first set of Senators and House of Representatives members to arrive the National Assembly for plenary on Tuesday

Senator Ningi who along with some few other Senators like Suleiman Kawu ( NNPP Kano South), Aminu Waziri Tambuwal (PDP Sokoto South) etc , came into the National Assembly through the Villa Gate, arrived exactly at 10: 40am, 20minutes to 11:00am fixed for commencement of plenary which even started at about 12:10 pm .

Following his suspension , Senator Ningi lost his Chairmanship position of the Senate Committee on National Identity and Population, which was allocated to Senator Mustapha Musa (APC Yobe East), two days after the now lifted suspension

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Minimum Wage: Senate tackles Labour over National Grid Shutdown, disruption of Hajj flight

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**Resolves to use legislation to prevent reoccurrence
The Senate on Tuesday expressed displeasure at some of the excesses by some members of Nigeria Labour Congress ( NLC) and Trade Union Congress ( TUC) during the nationwide strike for new minimum wage on Monday.
The upper legislative chamber declared that the shut down of the National Grid and the disruption of Hajj flight by some labour unionists were more of economic sabotage than agitation for new minimum wage.
It consequently declared that such situation would not be allowed to re – occur as laws against it would be reflected in the new national minimum wage Act that would be enacted soon after submission of bill to that effect by the executive.
Senate’s grouse against the alleged excesses of labour unionists during the now suspended nationwide strike, came through a motion on the strike action and new minimum wage by the Chairman, Senate Committee on Labour, Senator Diket Plang (APC Plateau Central).

Senator Plang had in the motion, requested the Senate to call on the federal government to expedite action on new minimum wage as a way of stopping the industrial unrest which was however overtaken by sudden suspension of the strike by labour.
But in his remarks, the President of the Senate, Senator Godswill Akpabio said though it was heartwarming that the strike has been suspended but the excesses by some labour unionists need to be condemned
“One of such excesses, was the shut down of the National Grid which is more of an economic sabotage than agitation for new minimum wage.
“Disruption of Hajj flight by some other labour unionists as said by the Deputy President of the Senate, is also not palatable being a religious exercise.
“Also, disruption or prevention of students from writing their West African School Certificate Examination by some labour unionists during the strike was bad because the examination is not organized by Nigeria but West African Countries “, he said.
He added that such actions would not be allowed to be repeated as required laws against them, would be reflected in the new National Minimum Wage Bill expected from the executive very soon.
He,however commended the labour unions for calling off the strike
“I want to thank the Nigerian Labour Congress and the Trade Union Congress for listening to the voice of Nigerians and the international community by calling off the strike to enable negotiations to continue and we wish them well in the negotiations.
“On our part, we will continue to do our best by making contributions and at the same time awaiting the incoming Bill on Minimum Wage for us to enact for the benefit of all Nigerians”, he said .

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Senate approves Bill to change National anthem to “Nigeria, We Hail thee”

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**Counters AGF, insists Bill does not need wider consultation

The Senate on Tuesday approved a Bill to change the current National anthem titled “Arise O Compatriots ” to the old national anthem “Nigeria, we Hail thee”.
Following the consideration of the report of its Committees on Judiciary, Human Rights and Legal Matters, and Federal Character, and Inter governmen Affairs on Tuesday, the Senate passed the bill entitled, “National Anthem Bill, 2024” for third reading.

The Senate passed the bill amidst stakeholders misgivings, including Lateef Fagbemi, the Auditor-General of the Federation and Minister of Justice against hasty passage and the need for a wider consultation.
The bill was read for the first and second time last week Thursday at the Senate. It also received an accelerated hearing at the lower house as it was read for the first, second and third time.

The Bill will be transmitted to President Bola Tinubu for assent. If signed into law, it will be the first time Nigeria’s national anthem will be given legal backing.
Mongu nu Tahir, the Senator representing Borno North, while presenting the report of the Committee during plenary informed that the Bill seeks to give a legal framework to the national anthem “so that it can bite and bite with all the legal powers embedded in it.”

He clarified that the Bill, despite the concerns raised by the AGF does not need to be subjected to a wider process of citizen participation through zonal public hearings, resolutions of the Federal Executive Council, Council of State, National and State Assemblies, etc.
He insisted that the Bill is an ordinary Bill, not a constitutional amendment and only requires it to be read first, second and third time after a public hearing.
Presenting the committees report, Monguno however said that the new national anthem is apt as it represents the country’s people, culture, values and aspirations.
“The bill is in tandem with the spirit of unity. It will undoubtedly inspire a zeal for patriotism and cooperation. It will promote cultural heritage. Changing the national anthem will chart a path to greater unity”, Tahir said.
He then recommended that the bill be passed. The Senate then resolved to the committee of the whole to consider the report. After which, Godswill Akpabio, the Senate President put the bill to a voice vote and lawmakers supported it.
The Senate president also noted that the AFG is not a lawmaker and does not have a full understanding of how Bill’s are passed.
The bill was consequently read for the third time and passed.

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