President Bola Tinubu has sent a new bill to the National Assembly regarding the student loan scheme.

Naija News reports that the development comes less than 48 hours after the federal government announced the indefinite suspension of the student loan scheme.

The new bill repeals the current Act and replaces it with a new one, aiming to facilitate a smoother scheme implementation.

In a letter addressed to the Speaker of the House of Representatives, Tajudeen Abbas, President Tinubu emphasized the necessity of this action to ensure the seamless execution of the scheme.

It is worth noting that the existing Act was among the first legislations signed by Tinubu after his inauguration.

The bill itself was sponsored by former speaker of the House of Representatives, Femi Gbajabiamila, who now serves as the Chief of Staff to the president.

Despite the government’s efforts, they have faced challenges in implementing the scheme, leading to multiple postponements of its launch.

A couple of days prior, a high-ranking official of the Tinubu government declared the permanent halt of the student loan program.

In his statement, Tinubu mentioned that the recent legislation aims to tackle issues concerning the organizational framework of the Nigerian Education Loan Fund (NELF), qualifications for applicants, loan objectives, sources of funding, and distribution and repayment processes.

“TRANSMISSION OF STUDENT LOANS (ACCESS TO HIGHER EDUCATION) (REPEAL AND RE-ENACTMENT) BILL, 2024

“Pursuant to Section 58(2) of the Constitution of The Federal Republic of Nigeria, 1999 (as amended). I forward, herewith, The Student Loan (Access to Higher Education) (Repeal and Re-Enactment) Bill, 2024 for the kind consideration of the House of Representatives.

“The Student Loan (Access to Higher Education) (Repeal and Re- Enactment) Bill, 2024 seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

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“Whilst hoping that this submission will receive the usual expeditious consideration of the House of Representatives, please accept, Rt. Honourable Speaker, the assurances of my highest consideration.”

The military has vowed to rescue the over 200 schoolchildren who were recently abducted by bandits in Kaduna State.

While addressing a press conference in Abuja on the activities of the Armed Forces in the last two weeks, the Director of Defence Media Operations, Major General Edward Buba, says the military is committed to rescuing all kidnapped victims unhurt.

The defence spokesman during the Thursday event, however, blamed school owners for failing to report cases of abduction to security agencies on time.

He also blamed the recent kidnapping of some internally displaced persons in Gamboru-Ngala, Borno State on their disobedience to instructions as they left the camp in search of firewood without informing camp officials.

The abduction of 287 students in Kaduna State has triggered a flurry of comments from authorities in Nigeria.

In the wake of the abduction, President Bola Tinubu mandated security agencies to fish out the kidnappers and rescue the students, insisting his government would not pay ransom.

The Minister of Information and National Orientation Muhammad Idris said this on Wednesday after the Federal Executive Council (FEC) meeting in Abuja.

He told State House Correspondents that President Tinubu also reiterated his directive to the defence to ensure that the children are rescued and brought back safely to their homes.

The minister reiterated that under the current government, kidnapping, especially mass abduction will not be tolerated.

The Katsina State Command of the Nigerian Customs Service (NCS) on Wednesday handed over six trucks and their contents to the owners as directed by President Bola Tinubu.

The released trucks were mostly intercepted along the Kongolam Border Patrol Checkpoint in Mai-Adua Local Government Area of Katsina State.

The presidential directive aimed to ensure food security and alleviate the hardship faced by most citizens of the country.

The Katsina State Customs Area Comptroller Muhammad Umar while releasing the trucks loaded with assorted grains that were hitherto under the custody of the Nigerian Customs Service recalled that the Controller General of Customs, Bashir Adewale Adeniyi, had during his official work visit to Katsina, passed across the presidential directive which mandated the return of the detained food items to the owners on the condition that they would be sold within the Nigerian market.

He announced that the released trucks will be closely monitored by the Katsina Customs Area Command in collaboration with the Customs Intelligence Unit, Federal Operation Unit, and the Joint Border Patrol Team, to ensure that they are not smuggled out of the country again.

He added that the service is committed to fostering constructive dialogue and collaboration with the border communities to ensure prosperity and security in the whole thing.

He, therefore, pleaded with the general public to provide information that would assist in curtailing the smuggling of foodstuff out of the country.

In his remarks during the brief ceremony, the Chairman of the State Taskforce Committee on Food Security and Promotion, Jabiru Abdullahi Tsauri, warned smugglers and owners of the released trucks to adhere strictly to the presidential directive by selling these assorted grains to Nigerians particularly citizens of Katsina State.

“We have already instructed the Local Government Chairmen to form a Committee to monitor strictly in conjunction with the task force, the sales of these Grains,” Tsauri added.

The N1.1tn Federal Capital Territory Appropriation Bill, 2024 has scaled the second reading at the Senate.

A breakdown of the N1.1tn showed that N280bn was booked for overhead, N726bn for capital projects, and N140bn for what was termed “personnel”, bringing the total budget to N1.147tn.

Leading the debate on Thursday, the sponsor of the bill and Senate leader, Opeyemi Bamidele, noted that the appropriation bill took into cognisance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.

It also contemplates the consideration of the 2024-2026 Economic Recovery Growth.

During the debate, President of the Senate, Godswill Akpabio, assured that the bill presented earlier than usual will be expeditiously considered and passed to encourage the minister of the FCT to advance reforms in the nation’s capital.

The bill has been referred to the committee on the FCT to report back on the next legislative session.

Senate Chief Whip, Ali Ndume, has reacted to the controversy surrounding the allocation of funds to lawmakers for constituency projects in their various senatorial districts.

Ndume was responding to allegations by Senator Jarigbe Agom-Jarigbe from Cross River North that some senators got about N500 million each from the 2024 budget for constituency projects. 

Agom-Jarigbe had on Tuesday, during a story session in Abuja, made the startling disclosure while the lawmakers debated budget padding claims by Senator Abdul Ningi from Bauchi Central Senatorial District.

Speaking with ChannelsTV on Wednesday, Ndume revealled that he and other leaders of the 10th Senate got more than the N200 million allocation his colleagues and floor members received for constituency projects in the 2024 budget.

“My colleagues know that I go more than them (floor members). All the senators have N200 million  (each) as their constituency projects but I am a leader. That is the difference,” Ndume announced.

“Ten of us are leaders including those in the opposition. We get more than the floor members. It’s normal… My colleagues know that I go more than them,” he added.

Politics Nigeria’s checks revealled that the current leaders of the 10th Senate include:

1. Godswill Akpabio – Senate President
2. Jibrin Barau – Deputy Senate President
3. Opeyemi Bamidele – Senate Majority Leader
4. Oyelola Yisa Ashiru  – Deputy Majority Leader
5. Ali Ndume – Chief Whip
6. Lola Ashiru – Deputy Whip
7. Abba Moro – Minority Leader
8. Kamorudeen Olarere – Deputy Minority Leader
9. Darlington Nwokeocha – Senate Minority Whip
10. Rufai Hanga – Deputy Minority Whip

When asked whether the claim by Agom-Jarigbe was true, Ndume said: “It’s disparity now, we are not the same; all animals are equal but some are more equal than the other. That’s what the case is. They have agreed to that.

“All the senators have N200m (each) as their constituency projects but I am a leader. That is the difference. 10 of us are leaders including those in the opposition. We get more than the floor members. It’s normal.

“That decision is taken by the senators. We have the senate budget committee before but now the floor members entrusted that to the presiding officers. That’s the difference. So, most the senators don’t know what I get and I will not tell you,” he added.

Labour Party (LP) standard bearer in the 2023 presidential election, Mr. Peter Obi, has admonished the Senate to come clean and clear all the allegations of N3 trillion padding in the 2024 budget.

Obi on his X handle yesterday told the upper chamber that Nigerians deserve to know the truth about the allegations, especially as the Senate and the executive arm of government are singing discordant tunes on the matter and fresh allegations cropping up on the sharing of constituency funds in the budget.

The former Anambra State governor said, “The fuss over the alleged N3 trillion padded into the 2024 budget raised by a senator still rages as the Senate reaction of suspending the whistle-blower has not addressed vital issues emanating from the allegation.

“The senator is insisting on his allegation and the executive agreed that there was only N1.2 trillion padded not N3 trillion as alleged by the Senate.

“Fresh allegations have also cropped up over indiscriminate and unbalanced allocation of constituency projects by the Senate leadership.

“A civic group, Budgit, through their official, has also added their voice to agree with thes. They alleged that there was no detailed project allocations for about N3.7 trillion in the 2024 Appropriation Act.

“As the Senate suspension of the senator involved has not addressed the issue, they still owe the Nigerian public a clear clarification over the various claims and counterclaims, including that of the executive arm, to be able to know exactly what is happening, and also disclose to the public, the amounts allocated for constituency projects for appropriate monitoring of implementation by the public.

“I had particularly elucidated in my earlier comment on what we can use the N3 trillion to achieve, by showing that it is more than the national budget of the two most critical components of the human development index, health and education, combined.

“Now that the executive arm has accepted that the padded amount is only N1.2 trillion, it is still a very significant amount, when you consider that it is almost 5 times the N251.47 billion proposed for Universal Basic Education, which is the foundation of education, in the Country.

“Today in Nigeria, the greatest challenge to human resource development is education, which has been identified as most critical at the basic level. Nigeria has about 20 million out-of-school children today because of the poor investment in education. These are resources that would have been utilised to ensure that our children are taken off the streets and returned to schools…

“We must, as a matter of urgency, put a stop to all the wastage of our scarce resources, amid the excruciating hardship in the country. Let every penny of our public fund be used for public good. That is the only way to achieve the New Nigeria we are working towards,” Obi added.

Heirs Technologies, a leading digital transformation company, has announced the appointment of Obong Idiong as its chief executive officer.

The company also appointed Dr. Fumbi Chima as its Chair.

Idiong brings considerable experience in the technology sector and a visionary approach to this role.

Prior to joining Heirs Technologies, he served as the MD/CEO at Africa Prudential Plc, where he spearheaded the digital transformation of its registrar services and repositioned the company as an agile and technology-driven organisation. Idiong has held a series of senior management roles, including at the United Bank for Africa Plc and Heirs Holdings Limited.

Heirs Technologies, a subsidiary of Heirs Holdings, delivers efficiency and scalability to enterprise customers, offering specialised and localised services that include IT Consulting, Managed Services and Business Process Outsourcing. In addition, the company offers locally relevant enterprise solutions to enable companies to scale and transform their services. The company is committed to developing local talent through tailored skills development programmes.

Obong Idiong stated, “We are proud to bring Heirs Holdings’ core values and business approach to the tech sector, leading with excellence, execution, and enterprise. We are committed to bridging an enormous gap in the technology ecosystem by delivering local relevance to a global market and offering cutting-edge solutions to enable our customers to become more competitive”.

On her part, Dr. Fumbi Chima has served as CIO in global companies including Adidas, Fox Network Group, Burberry Corporation, Walmart Stores Inc. Asia business operations, and American Express’ Global Corporate Technologies prior to the current appointment.

In her statement she said, “I am pleased to be a part of this movement to unlock Africa’s potential. Having worked in technology leadership roles across global organisations, I am confident that Heirs Technologies will create impact that will improve lives and transform the continent”.

Heirs Technologies is Africa’s digital transformation partner, driving innovation across the continent. Building on Heirs Holdings’ track record of digital transformation in financial services, Heirs Technologies specialises in delivering world-class technology solutions to corporate customers, including Managed Services, System Integration, and bespoke IT Consulting.

Heirs Technologies empowers businesses to thrive, through the delivery of innovative solutions, world-class expertise, and access to global providers, while enhancing local capacity and value.

Heirs Technologies is a subsidiary of Heirs Holdings, the leading pan-African investment company with strategic investments in key sectors in the African economy, including resources, power, financial services, real estate and hospitality and healthcare, with portfolio operations across twenty-four countries worldwide. Heirs Holdings’ investment approach is driven by founder Tony Elumelu’s philosophy of Africapitalism that champions the African private sector’s commitment to the economic transformation of Africa, through investments that generate both economic prosperity and social wealth.

The lawmaker representing Bauchi Central, Senator Abdul Ningi, has made a startling revelation following his suspension from the Senate.

Ningi disclosed that there were intentions among his colleagues to have him arrested following his controversial claim regarding the 2024 budget allocations.

The senator’s suspension, which is to last three months, comes on the heels of his allegation that N3.7 trillion of the budget could not be accounted for in any specific project.

The accusation, initially made during an interview with BBC Hausa, sparked widespread interest and debate, both within the legislative chamber and among the Nigerian public.

Ahead of the Senate’s next plenary session, Ningi addressed the media, affirming his previous statements and expressing readiness to face any repercussions for his candidness.

However, the situation escalated when the Senate convened on Tuesday. Discussion over Ningi’s allegations led to heightened tensions, with some lawmakers advocating for his suspension.

Amidst the ensuing disorder, Senator Olamilekan Adeola from Ogun West proposed a motion to formally discuss Ningi’s comments, leading to further controversy as Senator Jarigbe Jarigbe of Cross River North made additional accusations.

Jarigbe claimed that select “senior senators” had received N500 million each for constituency projects, insinuating widespread complicity within the Senate.

These allegations have since dominated public discourse, with citizens calling on their senators to clarify their involvement and the specifics of their allocated funds.

In a subsequent appearance on Arise TV, Ningi reiterated his concerns, suggesting that there were concerted efforts by members of the Senate to silence or even arrest him over his disclosure of the untraceable N3.7 trillion.

He said: “That is why I said I know this parliament very well, I have come a long way. And that is why we are speaking. Let’s speak. Have they ever asked me since the beginning of this so-called crisis, where are your findings? Where are the documents? I’m not using my head to come up with figures.

“Nobody has talked to me about evidence. Nobody has suggested even listening to me. All they are trying to do is to ensure that ‘how do we make sure that Ningi is silenced or arrested so that he doesn’t do anything?’. I have opened this can of worms. Neither they nor I will be able to control it.”

The Federal Government of Nigeria has announced its plans to issue a Eurobond, marking its return to the international bond market since its last issuance in March 2022.

For this venture, the government has enlisted the services of leading global investment banks, including Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Inc., along with Standard Chartered Bank and the Lagos-based Chapel Hill Denham, as advisors.

According to Punch, the upcoming Eurobond issuance, expected to occur before June, represents a pivotal moment for Africa’s largest oil-producing nation as it seeks to re-engage with global financial markets.

This initiative is part of a broader strategy to finance the significant budget deficit outlined in President Bola Tinubu‘s N28.8 trillion ($18 billion) spending plan for 2024, which projects a fiscal shortfall of N9.8 trillion, or 3.8 percent of the GDP.

The exact size of the Eurobond offer has yet to be determined.

However, sources close to the transaction, who preferred to remain anonymous, told the platform that Nigeria could aim to secure up to $1 billion in international loans throughout 2024.

This external financing is deemed critical for the country to manage its ambitious fiscal deficit. The shortfall is expected to be covered through a mix of local and international borrowings, alongside support from global financial institutions.

In a related development, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, revealed that the decision to issue Eurobonds was influenced by the potential for lower interest rates and ongoing economic reforms.

Since taking office in May 2023, President Tinubu has introduced several policies to attract foreign investment and revitalise the economy.

These include two devaluations of the naira to establish a more flexible exchange rate regime and the controversial removal of fuel subsidies.

Furthermore, the Federal Government has disclosed plans to borrow N450 billion from its third FGN bond auction of 2024, a significant reduction from the N2.5 trillion target of the previous month.

According to the Debt Management Office (DMO), this auction will feature a new 3-year bond and the reopening of existing bonds, with the collective aim of financing the 2024 budget deficit.

With the DMO’s recent circular announcing the auction details, including the offer of three different bonds, each with an allocation of N150 billion, the government’s N450 billion borrowing target for March 2024 is set.

A baker, Tina Ileogben, has been killed and her heart reportedly ripped out of her chest and stolen at her residence on Olowo Street, in the Alhaja Shifiwa area of Dopemu, Agege, Lagos State.

PUNCH Metro gathered that the victim, who was said to be working at a bakery, did not report for duty on Wednesday when one of her colleagues was instructed to check her at home.

On getting to the premises, it was learnt that the colleague met the door leading into her flat open and upon gaining entry, met her lifeless body on her bed.

A resident in the area, who gave his name simply as Segun, said the colleague quickly raised the alarm, adding that neighbours who rushed into Ileogben’s flat observed that her throat had been slit and her heart removed from her chest.

He said, “The incident has thrown people including her neighbours into confusion. People got to know what happened to Ileogben when her colleague came to her flat.

“Ileogben’s colleagues did not see her at work and one of her colleagues came to check her at home when they could not reach her on the phone. It was when the colleague got to her flat, met the door open and entered that he saw her lifeless remains on the bed.

“The person who perpetrated the crime slit her throat, put a hand into her neck to access her chest and removed her heart. People saw some of her intestines around her neck and a doctor who was also at the crime scene confirmed that her heart had been taken away.”

Speaking with our correspondent, Ileogben’s elder sister, Justina, said her sister was raped before she was killed, adding that her sister’s blood was visible in her flat.

She said, “I am dead already. I was at home when I received a call informing me that my sister had fallen and they needed my presence. I quickly rushed to her house and saw a lot of people there.

“I suspected something bad had happened, started crying and rushed to my shop. I later summoned the courage to go into her flat to find out what happened to her and saw her corpse.

“Blood stains were on the floor, wall, and her bed. When I looked closer at her corpse, I saw that the person raped her before killing her. The person used a knife to slit her throat and her heart was also removed from her chest.”

Justina, while demanding justice, urged men of the state police command to track down the suspect responsible for her sister’s death.

Contacted, the state Police Public Relations Officer, SP Benjamin Hundeyin, confirmed the incident, noting that officials of the Lagos State Environmental Health Monitoring Unit had evacuated the deceased’s remains to the Mainland General Hospital, Yaba, for post-mortem examination.

He said, “One Akeem, a coworker of the deceased, and her landlord reported the case at the Dopemu Division. The deceased, Tina Ileogben, was supposed to report on duty but when was not seen, and the senior staff on duty instructed him to go and check up on her since she lived close to the company.

“On getting there, Akeem met her room open, he entered the room with two neighbours and discovered the lifeless body of the deceased naked in a pool of her blood with her neck slit. An investigation into the case is ongoing. Regarding the missing heart, nothing of such happened.”