Says CBN Act one of world’s best

Former Central Bank of Nigeria (CBN) governor, Sanusi Lamido Sanusi yesterday challenged the Nigerian National Petroleum Corporation (NNPC) to give account of the dollar inflows from its operations.

He said, “Where are the dollars? Ask NNPC.”

He spoke at the opening of the 2023 Bank Directors’ Summit with the theme: “Emerging Issues: Navigating the Complex Balance Between Regulation and Compliance”, which was organised by the Bank Directors Association of Nigeria (BDAN).

At the summit, President Bola Tinubu reiterated the commitment of his administration towards resolving all foreign exchange backlogs while promising to inject more funds into the market.


Sanusi in his remarks, also warned against any move to remove independence of CBN and subject it to political manipulations, saying this could be dangerous to the economy.


He said the CBN Act remained one of the best laws in the world, adding that the solution was not in changing the bank’s law but rather ensuring its implementation.


Speaking on the current forex liquidity challenge in the country, the 14th Emir of Kano said the question about the earning of the NNPC would continue to linger.


It would be recalled that this was the question that cost Sanusi his job during the administration of Goodluck Jonathan when he asked the NNPC to account for $20bn.

He stated that he would continue to demand answers until NNPC is properly reformed or “till I die”.


He said the current fiscal challenges resulted partly from the inability of government agencies to account for their stewardship in a transparent manner to reduce revenue leakages.

The former CBN governor particularly blamed the bank’s overdrafts to the federal government through Ways and Means for the country’s high inflation and FX woes.


Sanusi described the NNPC as the opaquest institution in the world noting that to achieve FX stability “You must follow the money as we asked in 2014”.

According to him, so much attention was being focused on the CBN that no one was demanding answers for N11 trillion subsidy payments without accountability.

He urged the CBN to always consult the banking industry in crafting its policies adding that the “Era of regulations without consultation should end”.


He said the central bank should initiate regular meetings with bank directors, adding that AMCON levy tends to be unsustainable and should be reconsidered.

The president, who was represented at the summit by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, stated that funding of liquidity in the FX market though a short-term solution remained critical for the economy at the moment.

According to him, there’s “No reason to feel that the indications that were made earlier had changed”, adding, “It just takes time”.


Tinubu said it was only a matter of time before short, medium and long-term funds are mobilised across the spectrum.

He said, “Regulator must partner with industry to promote innovations that drive financial access, and banks have a duty to embed integrity and transparency into our culture and technology systems.”

The ECOWAS Court of Justice has, on 7th December 2023, dismissed a request by the Republic of Niger for the Court to suspend sanctions imposed by the ECOWAS Authority of Heads of State and Government on Niger.

The request for interim measures is part of a broader case brought by the Republic of Niger and seven other applicants challenging the legality of sanctions imposed by ECOWAS following a military coup in the West African country in July 2023 that overthrew the government of President Mohammed Bazoum.

In the ruling delivered by Justice Edward Amoako Asante, the Court acknowledged that it has prima facie jurisdiction over the substantive application.

However, the Court ruled that it could not grant the request for interim measures since the additional requirement for the case to be prima facie admissible had not been met.

The Court explained that the Republic of Niger, as currently controlled by the military junta, lacked prima facie capacity before the Court, making the substantive application prima facie inadmissible.

The substantive application was also held to be prima facie inadmissible in respect of the rest of the Applicants within the meaning of Articles 9(2) and 10(c) of the Protocol of the Court.

At the hearing held on 21 November 2023 the Applicants represented by their lawyers Mr Moukaila Yaye and five others argued that the sanctions imposed by the Authority of Heads of State and Government of ECOWAS have had adverse effects on the Nigerien people including shortage of food, medicine and electricity, due to the closure of borders and suspension of electricity supply by Nigeria.

They asked the Court for interim orders that would compel the Authority of Heads of State and Government to immediately suspend the sanctions.

They said that ECOWAS overreacted by imposing the sanctions and that Niger was unequally and unfairly treated compared to three other ECOWAS member states (Mali, Burkina Faso and Guinea) that have experienced coup d’états in recent years.

Mr François Kanga-Penond who represented the ECOWAS Authority and other respondents in the case told the Court that the Republic of Niger is currently controlled by a military junta which seized power unconstitutionally in violation of ECOWAS legal instruments.

He argued that since such an unconstitutional government which had been denounced by ECOWAS and the international community could not be legally deemed to represent the country, both the substantive application and request for provisional measures were inadmissible. He therefore urged the Court to decline the request for interim measures.
In the substantive application, the Applicants -the Republic of Niger, six Nigerien organisations and a Nigerien national –asked the Court to declare the measures taken by the ECOWAS Authority of Heads of State and Government of ECOWAS during its extraordinary sessions of 30 July and 10 August 2023, to restore constitutional order in the Republic of Niger illegal.

They requested the Court to nullify all decisions of these ECOWAS organs imposing sanctions, including the decision to resort to military intervention in the Republic of Niger.

Dangote refinery received the first shipment of crude oil ahead of commencement of operation.


The arrival signals a significant achievement for the country’s oil industry as the long awaited $20bn plant comes on stream.

It was learnt that OTIS (crude oil) tanker carrying a 950,000-barrel cargo of Nigeria’s Agbami crude set sail on December 6 and is en route to Lekki, the nearest land port to Dangote’s offshore crude receiving terminal.


The tanker, chartered by state-owned Nigerian National Petroleum Company (NNPC), is the first of Dangote’s initial crude supplies as the giant new plant starts to ramp up operations, a West African oil trader said.

The tanker’s estimated arrival time was yesterday December 7 by 8 pm, signaling the commencement of crude supplies for the refinery operations.

Daily Trust reports that the refinery was officially commissioned by former President Muhammadu Buhari in May amidst expectations.

Following the commissioning, expectations had been high about the commencement of operation.


But the arrival of the first ship yesterday was greeted with excitement.

The Suezmax tanker, chartered by the state-owned Nigerian National Petroleum Company (NNPC), symbolises the initial crude supply to Dangote’s state-of-the-art refinery as it gears up to initiate production.

The NNPC owns a 20% stake in the refinery as it recently entered into an agreement to supply 6 million barrels of crude oil as feedstock to the Dangote refinery in December, aiming to jumpstart operations.

Agbami, operated by Chevron, stands as one of Nigeria’s major deepwater developments, boasting a daily output of approximately 100,000 b/d in the central Niger Delta. Renowned for its light sweet crude qualities with specific gravity measuring 47.9 API and sulphur content of 0.04%, Agbami yields significant proportions of naphtha and kerosene.

Further shipments from various Nigerian offshore fields to the refinery have been chartered by NNPC, signifying the beginning of a series of scheduled crude supplies throughout this month, according to the oil trader.

Designed to process multiple crudes concurrently, the refinery aims to process three Nigerian crude grades — Escravos, Bonny Light, and Forcados.

An inside source in Dangote who spoke with our correspondent yesterday as the ship was about to arrive in the Lekki Anchorage area in Lagos said the management of the refinery has set machinery in place to receive the shipment.

It was learnt that after arriving on Lekki anchorage, the management is expected to commence barging the crude.

“Hopefully, we will barge it tomorrow (today) after going through the necessary regulatory clearance. I am sure we will finalise all the clearance today. Also, there is going to be a ceremony to receive the shipment. This is a great and exciting event and an historic moment for our country,” he said.

An oil and gas expert, Jasper Nwachukwu told our correspondent that while it is exciting that the refinery is about commencing operation, there was the need to ensure domestic supply to the refinery to make the operation sustainable and much more beneficial to Nigeria.

He said as an oil producing nation, Nigeria should be the one supplying Dangote directly.

The House of Representatives has dismissed a petition to probe the alleged plan by the EFCC and DSS to re-arrest Ex-CBN Governor, Godwin Emefiele.

The petition, submitted by Philip Agbese, on behalf of the Center for Social Justice Equity And Transparency (CESJET), called for the investigation of the allegation.

However, the petition was dismissed on Thursday by the Chairman of the House Committee on Public Petition, Micheal Etaba, because the matter is subjudice.

It would be recalled that Emefiele recently got a N300 million bail alongside other conditions in his ongoing criminal case.

According to the petition by the Centre for Social Justice Equity And Transparency (CESJET), there is an alleged plot to re-arrest Emefiele after perfecting his bail.

At the hearing, the legal representative of EFCC, Sylvanus Tahir argued that since the former CBN Governor’s case is still in court, it would be inappropriate for the House to hear the case.

He explained that Emefiele’s lawyer would have filed a case of contempt if the allegation were true.

“I am wondering whether it is appropriate, given the fact that it borders on a subsisting court matter, for this committee to by way of a public hearing dive into the matter. More so, Emefiele is heavily represented by very senior lawyers in this matter including Senior Advocate of Nigeria (SAN),” he said.

The representative of the Nigerian Correctional Service, Nwakeze Emmanuel, also denied the allegation.

Following the presentations, the panel dismissed the petition.

Hon. Eshi Auta, a personal assistant to the Deputy Governor of Nasarawa State, Dr. Emmanuel Akabe, narrowly escaped an abduction attempt. 


According to reports, the suspected kidnappers attacked Auta on his way home on Wednesday night, December 6, 2023.

 
The incident happened around Tudun Kauri area of Lafia, the state capital.
 
Auta, who sustained injury during the attack was rushed to Dalhatu Araf Specialist Hospital (DASH), Lafia where he was treated and subsequently discharged.
 
One Bulus Joseph, who confirmed the incident said the gunmen made away with the victim's mobile phone.
 
"Please Pray along with Hon. Eshi Auta P A to deputy governor as he escaped from the hand of kidnappers on his way home yesternight. Note that his smart phone was taking so do away any form of transaction or calls from His Glo And Airtel line thanks. May God grant him speedy recovery,” he wrote.




The Nigeria Labour Congress on Thursday revealed that it is the sole sponsor of its president’s trip to the United Nations Climate Change Conference COP 28 held in Dubai.

This is coming after various reports, claimed that the NLC President Joe Ajaero was compensated with the trip by the Federal Government following his assault in Imo state.

Recall that Ajaero accused the Imo state government of his assault and kidnap in Owerri, the state capital, on November 1, 2023.

In a statement signed by the NLC Head of Information and Public Affairs, Comrade Benson Upah and made available to THE WHISTLER, he said, “A falsely contrived media innuendo circulated in social media has been brought to the attention of the Nigeria Labour Congress.

“The badly cooked media propaganda tried to present the participation of the NLC President, Comrade Joe Ajaero, at the Conference of the Parties in Dubai as a gift from the government.

“The yellow light report dubbed the trip by the NLC president as compensation after he survived a barbaric assault at the hands of agents of the state in Imo State.

“Nothing can be farther from the truth. The NLC is participating in the Conference of the Parties (COP 28) held in Dubai, United Arab Emirates as part of the NLC’s commitment to defending workers’ interests concerning the impact of Climate Change on the livelihood of workers especially with regards to the Just Transition.

“The president’s trip and that of the NLC Focal Person on Climate Change, Comrade Eche Asuzu, was fully paid for by the NLC with NLC participating in the Conference of the Parties since 2009”.

Speaking further, Upah said that the congress decided to harness opportunities of COP 28 to present the research work of the NLC Climate Change Program on Just Transition, which covers Nigeria’s seven priority sectors.

The NLC president also called for the re-training, upskilling and re-skilling of workers to prepare them for the transition from fossil fuel economy to green energy pathways, while demanding adequate social protection measures for workers who may not be able to transit.

President Bola Ahmed Tinubu has assured the nation that whoever is found culpable of the bombardments of Tudun Biri village that killed over 90 villagers will be punished accordingly.
The president has also assured that All the victims will be taken well care of under the Folako Initiative which will commenced by this month.

According to him, the community will be the first community to be rebuilt under the new intiative.

Represented by the Vice President Kashim Shattima made the statement on Thursday shortly after visiting the victims at Barau Dikko Teaching Hospital to condole them over the unfortunate incident.

He explained that the federal government remain committed to the fight against banditry accross the region.

“The President Bola Ahmed Tinubu sent us to commensurate with the people of Kaduna Over the tragic incident .The calibre of people that are here with me is a testimony on how deeply touched the president was by the incident .

“The President was deeply touched by what happened we will like to assure the people and government of Kaduna State that the government will take measures to protect and preserved the interest of our nation.

“The victims will be taken well care of under the Fulako Initiative which will commenced by this month and this community will be the first to be rebuilt in north west zone.

“All measured will be taken to ensure that future occurance are averted . Government will go to the root of the issue and anyone found culpable will be punished accordingly,” he said.

Kaduna State renowned Islamic Scholar, Sheikh Ahmad Gumi, has said that the Sunday bombing of villagers in Tudun Biri in Igabi Local Government Area of the state is intentional.


The scholar said it was wrong to target women and children, including the elderly, during war, yet the military decided to otherwise, thinking they were families of terrorists.

The scholar, who spoke while delivering his weekly lecture at the Sultan Bello Mosque, Kaduna, questioned that if the first bomb dropped on the people was a mistake as claimed, what of the second bomb that targeted those evacuating the bodies 30 minutes after as claimed by the villagers.

According to him, it was God that exposed some of the atrocities committed by the military in the forest, saying he had been calling on the people that innocent villagers are victims of the security bombardments in the forest but nobody listened.

He said, “I kept telling you not to invite people who see war as a solution but people refused to listen. Here it’s now. War is never a joke because it affects everybody. I warned you on this but you keep saying they should be killed.

“It’s you that will be killed. That bomb was meant to target the families of some people so as to kill their children and wives. I have been to a village where women and children were massacred in a remote forest.


“Many people have been bombed. Nobody said anything until it comes nearer to the city. I have been saying that whatever is between us whether it’s bandits or Boko Haram there should be peaceful negotiation.

“In this country, nobody can tell me; I tried finding a solution to the problem but we were not supported. The government was playing a double standard thinking they can win by war and in another way thinking of negotiation.

“These people assembled in a place women and children were and the drones have cameras which means they saw the people but they suspected they were children and wives of some people. I’m sure you will all have justified it if they got the families of those people.


“But they mistakenly targeted those who are not their target. For us, nobody should be a target of such bombings. This is because it’s wrong to kill women and children, including the elderly, and we are not in support of such even if they are IPOB members.

“We will never support the killings of IPOB wives and children. It’s better to have a face-to-face combat than bombing people. After all, nobody will even bomb IPOB. Those attacking Fulani settlements in Oyo, did you hear anybody dropping bombs on them?

“These bombs were made specifically to target some people but God exposed them because He was not happy with the killings of innocent lives. We hope the victims died as martyrs. But nobody should tell me it was a mistake. No, it was intentional because the target was meant for other people. Whoever dropped the bomb should be brought out.

“The people claimed the first bomb killed some people and that 30 minutes later the second bomb was dropped. If the first bomb was a mistake, should the second bomb be a mistake?”

A Federal High Court in Abuja, on Thursday ordered Governor Yayaha Bello to pay the sum of a N500 million in damages and also tender public apology to Murtala Ajaka, the Social Democratic Party (SDP)’s candidate in the Nov. 11 governorship election in the state for the gross and unwarranted violation of his rights.

The court presided over by Justice Inyang Ekwo also ordered security agencies and their heads, listed as 2nd to 7th respondents, to provide maximum security and ensure Ajaka’s safety, including his property, within Abuja, Kogi and Nigeria before, during and after the governorship poll held Nov. 11.


The judge further made “an order of injunction, restraining the security agencies from arresting/abducting, detaining and/or further harassing, intimidating, shooting/threatening the applicant’s life and properties.”

Ajaka had, in the originating motion marked: FHC/ABJ/CS/952/2023 dated and filed on July 11 by S.E. Aruwa, SAN, sought protection from the court.

The SDP candidate sued Mr Bello; Nigeria Police Force; I-G; Kogi Commissioner of Police; Department of State Service (DSS); DSS DG as 1st to 6th respondents, respectively.

The applicant also joined Director of DSS Command in Kogi; Commandant-General, Nigeria Security and Civil Defence Corps (NSCDC); Chief of Defence Staff; Chief of Army Staff and Chief of Naval Staff as 7th to 11th respondents in the case.


He said he firmly believed that as soon as the originating processes for the enforcement of his fundamental rights were served on the respondents, they would intensify efforts, albeit illegally, to force him to Kogi to be killed.

He said before this time, he had contested in the Kogi governorship primary election under the All Progressives Congress (APC).

Ajaka averred that to dissuade him from contesting the APC primary, the governor, who had announced his cousin, Alhaji Usman Ododo, as his successor, pointedly demanded that he step down.

“He (Bello) further accompanied this demand with threats to taking my life on the failure of compliance,” he alleged.

The applicant said in view of the foregoing, he sought an audience with the then President, Muhammadu Buhari, where he intimated him of these threats with a request for intervention and protection.

“The president, in response, requested that the applicant make a formal report to his official and relevant security agencies, which he did,” he alleged.

He further alleged that Bello’s schemes became unwieldy when he (Ajaka) moved to the SDP and secured the party’s ticket as its governorship candidate for the Nov. 11 poll.


“That after leaving the APC for the SDP, the applicant was still being threatened by the overt and covert acts of the 1st respondent (Bello)

“That the 1st respondent has co-opted the 2nd to 11th respondents in threatening the right to life, liberty and association of the applicant,” he alleged.

He alleged that on June 3, he left Abuja to pay courtesy visit to the Ohimege of Koto at KotonKarifi.

He said no sooner had he departed and was heading to Lokoja to pay a courtesy call at the palace of the Mai gari of Lokoja than the vehicle he was travelling in with was hit with a hail of bullets in an unprovoked attack against him and his supporters.

“In the midst of the confusion, the vehicle the applicant was travelling in was overtaken by a vehicle with the insignia of the government blocked the expressway, and then the 1st respondent (Bello) physically highlighted from the vehicle while ordering the men of the 2nd and 5th respondents (police and SSS) to again open fire on the vehicle of the applicant and his motorcade.

“That several vehicles belonging to the applicant and his supporters were riddled with bullets and demobilised, two other vehicles branded with the applicant’s party (Social Democratic Party) Logo were set ablaze by the men of the 2nd and 5th respondents on the direct order of the 1st respondent,” he said.

Ajaka, who alleged that the deliberate attempt at assassinating him was made under the direct supervision of the governor, urged the court to grant his reliefs in the interest of justice.


Gov. Bello, in his preliminary objection, sought an order striking out the suit for want of jurisdiction and another order setting aside the earlier order of the court made on July 13 for want of jurisdiction.

Giving eight grounds for the objection, he said Ajaka had filed the action against him, a sitting governor of Kogi.

He argued that the applicant did not sue him in his official capacity, as the Attorney-General of Kogi was not a party to the suit.

Besides, he argued that the alleged breach of Ajaka’s fundamental right and all facts constituting the breach as per his affidavit in support of the originating motion occurred in Kogi, hence, the suit was incompetent, among others.

The governor also disagreed with Ajaka that he (Ajaka) was an aspirant in the APC primary poll.

Bello submitted that there was an existing court order barring Ajaka from participating in the said primary election.

He said he had neither dissuaded the SDP candidate from contesting the APC governorship primary elections nor did he at any time pointedly demanded that he stepped down as he was ineligible to even contest the said primary election.


Bello equally denied issuing any threat against Ajaka to take his life for failure to comply with anything whatsoever.

The governor, who denied anointing any successor, said Ododo contested the APC primary poll and won on his own merit.

He said the 2nd to 11th respondents are all federal agencies and not under his command and control, thus, he could not have co-opted them to threaten Ajaka’s right to life, liberty and association.

He alleged that Ajaka, in company of thugs and armed militia men, attacked and obstructed his convoy along the Abuja-Kogi Expressway which prompted officers and men of the 2nd to 5th respondents to repel the attacks from the criminals.

Bello said all through the episode, he never alighted from his vehicle neither did he order any person to open fire on either Ajaka’s vehicle or any vehicle whatsoever as the officers of the relevant security agencies attached to his convoy were charged with his security and carried out their duties within the ambit of the law.

Delivering the judgment, Justice Ekwo said he found that none of the governor’s averments in the entire affidavit, was specific.

“In other words, they are merely general averments. Furthermore, none of the averments specifically mentions the incident of 3rd June, 2023 and proffer a defence thereto,” he said.


He held that Bello’s counter affidavit was so feeble and had failed to effectively challenge Ajaka’s case.

“It is also the law that affidavit evidence which is not challenged or controverted howsoever, is deemed admitted and can be relied upon by a court,” he said.

The judge also said he found that the account of what transpired on June 3 by the governor’s Aide De Camp (ADC), DSP Iwanger Ifeoma Akaya, was in conflict with the account of SP Elvis Aguebor, who was also at the scene.

“It is not hard to see that the 1st respondent was acting clever when he sent his Aide De Camp to make a report to the same police that acted in concert with him at the scene of the shooting, after preventing the applicant (Ajaka) from entering Lokoja,” he said.

According to him, it is my opinion that it is in the attempt of the 2nd, 3rd and 4th respondents to make a case to cover up for the act of the 1st respondent and the officers of the 2nd, 3rd and 4th respondents that has caused the obvious inconsistencies in their evidence.

He held that none of the respondents’ affidavit evidence was able to address the incident of June 3, which was the subject matter of Ajaka’s case.

His words: “It is my finding that the 1st, 2nd, 3rd and 4th, 5th, 6th and 7th respondents violated thr rights of the applicant as enshrined in Chapter IV of the 1999 Constitution (as amended).


“The case of the applicant succeeds on the merit against the 1st, 2nd, 3rd, 4th, 5th, 6th and 7th respondents in this case and I so hold.
“In awarding damages in this case, I will take into account the trauma of the applicant of being shot at by those whose statutory duty is to protect the citizens, acting under the command of the 1st respondent (Bello) who is statutorily the chief security officer of a state for a cause that is manifestly unlawful but inhuman.

“I will also take into consideration the physical and mental anguish of the applicant when he stood in utter helplessness and watched the 1st respondent using his political might through the apparatus of the state for security and law enforcement to shoot and burn down the campaign vehicles of the applicant’s political party.

“I will further take into account the near-death experience of the applicant and the mental torture that comes with it, when the vehicle in which he was, was riddled with bullets from the guns that ought to have been used to protect him and other citizens.

“It must be understood that fundamental rights of all citizens are sacrosanct and unless as authorised by law, any action by which an unlawful breach thereof is successfully proved, will be determined to reflect the depth of condemnation by the court.”

The judge struck out the 8th, 9th, 10th and 11th respondents in the case for having found no evidence implicating them on the incident of June 3 or any claim against them.

He declared that the unprovoked shooting at Ajaka, his cars and his supporters by armed officers of 2nd to 7th respondents on June 3 was reprehensible and a gross violation of his right to life and dignity of his human person.

This, he said, is enshrined under Sections 33 and 34 of the 1999 Constitution (as amended) and Articles 4 and 5 of the African Charter on Human and People’s Rights (Ratification and Enforcement) Act, Cap. A9 Laws of the Federation, 2004. (NAN)

The Zamfara state government led by Governor Dauda Lawal has reportedly recovered all fifty vehicles allegedly stolen by his predecessor, Bello Matawalle.

During a press briefing held in Gusau on Thursday, Governor Dauda Lawal’s spokesperson, Sani Sambo, informed journalists that the recovery follows a judgement made by the Federal High Court in Sokoto last Friday.


Sambo emphasized that the process of recovering the vehicles from the former governor’s residences in Gusau and Maradun was carried out meticulously, as the former governor had previously denied possessing any government property when he left office.

Furthermore, Sambo highlighted that the administration led by Governor Dauda Lawal is committed to achieving the desired development in the state, rather than engaging in a witch hunt or tarnishing anyone’s reputation.

The controversy surrounding stolen operational vehicles at the Government House in Gusau and the misappropriation of public funds arose when Lawal assumed office as governor of Zamfara on May 29, 2023, Naija News understands.

As a result, security agencies conducted raids on Matawalle’s residences in Gusau and Maradun, leading to the recovery of several vehicles.

The former governor quickly secured a court order restraining the state government from such action, pending the court’s decision on the matter.

However, the state government pressed further to have the court in Sokoto dismiss the former governor’s suit against it.