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Senate threatens CBN Gov, BOI MD, others with warrant of arrest over N500b DBN Fund

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For failing to honour its invitation . Senate’s Ad – Hoc Committee on uneven disbursement of N500billion development fund across the six geo – political zones by Development Bank of Nigeria ( DBN) has threatened to issue warrant of arrests on the Governor of Central Bank of Nigeria , Godwin Emefiele and heads of affected financial institutions

Apart from the CBN Governor, the Committee headed by Senator Sani Musa (APC Niger East), also threatened to arrest the Managing Director of Bank of Industry , Olukayode Pitan, the Managing Director of Nigeria incentive – Based Risk Sharing System for Agricultural Lending ( NIRSAL), Aliyu Abdulhamid and the Director General of Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), Olawale Fasanya .
Heads of the five agencies incurred the wrath of the Committee with their conspicuous absence at investigative hearing carried out on Wednesday on the alleged uneven disbursement of N500billion development fund.

Irked by their absence at the session, the Chairman of the Committee , Senator Sani Musa said out of the eight relevant government agencies needed for the investigation , five were invited to appear before the committee at the Wednesday session.
“Out of these five, only two came while the remaining three who are the CBN, BOI and NIRSAL, were conspicuously absent without any letter from them explaining why .
“Assignment before this committee is a very important one, requiring cooperation and compliance from all those linked to issues at hand .
“MD of DBN and his counterpart from the Bank of Agriculture are here for required clarifications and explanations , making it mandatory for CBN Gov , MD of BOI and DG of NISRAL to appear unfailingly in subsequent sessions or risk being coerced through issuance of warrant of arrest”, he said .
He added that Ministers of Finance , Zainab Ahmed, Trade and Investment , Niyi Adebayo and Humanitarian Affairs, Sadiya Umar Farouq, will appear before the committee on Thursday this week for required submissions on roles played in the alleged uneven disbursement of funds .
But in his submission before the committee, the Managing Director of DBN, Tony Okpanachi denied deliberate lopsidedness in the disbursement of the fund.
He said laid down criteria set by the Central Bank of Nigeria were used for fund disbursement .
“Our lending has criteria and they are the same with those set by the Central Bank of Nigeria,” he said.
He explaibed that for a business to qualify for the DBN loan, it must have less than 250 employees and must not have done a turnover of more than N1.1 billion.
“We do a risk assessment of the participating financial institutions (PFIs) before they begin to lend to businesses. We don’t want to give out money and the money fritters away. So we track the end users of the loans yearly,” he said.
He added that the location of the registered MSMEs in Nigeria also explained the reason for the loan’s disbursement.
Statustically, he explained to the committee members that out of the registered MSMEs across Nigeria, Lagos alone has 25%, South West 23%, South South 18%, South East 10%, North Central 10%, North West 9%, FCT 4% and North East 2%.
He however informed the committee that DBN has asked participating financial institutions to build the capacity of smallscale businesses, and train them on how to structure their businesses for them to be able to access the loans.
“For DBN, it’s a continuous process to get more businesses on board,” he stressed .

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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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Legislature

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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