Connect with us

News

Shehu Sanni Faults Senate Approval Of $22.7bn Loans To PMB

Published

on

Former Senator, Shehu Sani has faulted the approval by the Senate to President Muhammadu Buhari in securing foreign loans of 22.7 billion dollars for Nigeria, saying that the administration has finally mortgaged the future of the nation and further plunged it into debts that cannot be repaid in half a century.

He said considering the circumstances surrounding the approval of the loans, the country’s overall interest and its future were not taken into consideration by the National Assembly, rather the commissioned agents, who are the beneficiaries of the foreign loans, are at advantage.

Sani reacted to the approval of the lawmakers to the loans that the 8th Assembly rejected, insisting that “the approval will plunge Nigeria into a deeper pit of debt.

“It is going to mortgage the future of our children. It is unfortunate that Nigeria has exhibited the London and Paris club, and also drag itself into the Washington and Beijing club. And we are very likely to remain there for a very long time. The debt profile of Nigeria is unsustainable. Most of the reasons why we are going to borrow money are not really tenable.

“We cannot repay this debt so easily, and what I know very well is that if this debt was approved under Jonathan, President Buhari and APC could have been in the forefront of protesting against it”.

“It is unfortunate that the very people who have raised issues on our national debt when they were in opposition or in Labour, today they have found themselves to be leaders in terms of promoting and also piling up debts for Nigeria. If we are not careful the whole country will be under the control and mortgage web of those foreign creditors’ institutions”.

Sani also remarked that “foreign debt is slavery, and we have simply worked ourselves into it under Buhari,” stressing, “as far as I am concerned, we supposed not to have reached this very level of poverty in the country if the past debt profile was well managed”.

“Debt should only be for critical infrastructure that would promote development and drive growth in our country. But, how can Buhari’s government that says it is netting over one billion naira every day through the closure of borders, and how can the government that says it has saved money as a result of subsidies and other critical measures, now go to borrow billions of dollars?”

“And, if you look at the revenue profile of Nigeria today, from what accrues to the country we will continue to service this debt for over half a century. And I don’t think that will go well for the nation”.

Adducing further reasons why Buhari’s government should not plunged the country into further debt, Senator Sani remarked, “there are critical infrastructure that simply needs a private-public partnership where the private sector will invest money, at the same time the profit would be shared by the public and the private sectors”.

“We don’t need to borrow money to build airport, we don’t need to borrow money to build infrastructure that will generate money, when if there are private interest that are ready to lend their money and to invest. So, I think the administration of the National Assembly have gotten themselves on the wrong side of history by getting us into debt. And this will continue to be an issue for the next 50 years.”

He also said that the 8th National Assembly refused to grant approval to Buhari request for foreign loans in order to protect the country’s critical interest, noting that “what matters to us then is the interest of the country and not the government, and serving the interest of somebody or becoming subservient to the executive”.

Sani further stressed: “We were concerned about our place in history and not piling up debts that the future generation will not be able to repay. So our signatures and approvals was very pressure to us and that was why we exercise restraint in terms of approving foreign loans.

“What you need to understand is that commissioned agents who facilitate this loan are only interested in their own commission. And loans are not charity, they must be repaid and with interest. So, those banks and those institutions and countries that are lending Nigeria money are simply investing for their own children, grandchildren and countries”.

“And as it is now, we are most likely to get into a quagmire of debts. During our time we rejected approval in order to save the country and save our children from being re-colonised by foreign creditors, so we were concerned of the future of our nation”, he added.

On the 350 million dollars acquired by Governor Nasir El-Rufai under the 9th National Assembly, remarked: “I wish the Kaduna Government and people luck, but during our time we rejected the loan for two reasons, first, the state is highly indebted to the tune of over 240 million dollars and we believe that if we add 250 million dollars that will strangulate the economy of the State and will also mortgage the future of the State”.

“And we rejected it also for the fact that there were also no defined reasons on how that money would be expended transparently. If the present National Assembly has seen it from a different perspective than the way we say it, we have no problem with that. But, I believe that history will be able to judge between the decision we took at that time and the one they have taken know”.

Advertisement

News

Police Clear Interior Minister Tunji-Ojo In NYSC Certificate Probe

Published

on

By

The Nigerian Police Force has dismissed allegations of certificate forgery against the Minister of Interior, Tunji Ojo, describing them as baseless following an extensive investigation.

The Police, through its spokesperson, ACP Benjamin Hundeyin, stated that no evidence was found of forgery, alteration, falsification, or unlawful production of the minister’s National Youth Service Corps (NYSC) certificate.

According to him, the investigation established that there was no proof of forgery, alteration, falsification, or unlawful production of the minister’s NYSC certificate.

“After an exhaustive investigation into the allegations, it has been established that there is no evidence whatsoever of forgery, alteration, falsification or unlawful production of the minister’s NYSC certificate,” Hundeyin said.

He explained that the National Youth Service Corps (NYSC) was contacted during the investigation and confirmed that the certificate in question was duly issued to the minister.

“The NYSC was contacted and it was verified that the certificate was duly issued by the corps to the minister. The allegations are therefore unfounded,” he added.

The development comes a day after youth and civil society groups staged a protest in Abuja over the alleged certificate forgery involving the minister.

The demonstrators accused Tunji-Ojo of providing conflicting information regarding his NYSC records, which they said raised concerns about integrity in public office.

Addressing journalists during the protest, one of the demonstrators said the minister had yet to publicly respond to the allegations.

“We have not heard from him. He has not come out to clarify to the public whether what is being said is right or wrong,” the protester said.

The protesters also argued that in similar circumstances, some public officials had resigned from office when faced with such allegations, insisting that accountability should apply equally to all public office holders.

“We want accountability, and we want everyone to be treated equally. What is good for one person should be good for all. If other ministers could resign over similar issues, we do not see why he should still remain in office,” the protester added.

They warned that failure to properly address such allegations could erode public trust in government institutions, particularly among young Nigerians, and undermine the credibility of public offices at the federal level.

 

 

Continue Reading

News

After Long Wait, Tinubu Assigns Portfolios To 65 Ambassadors-Designate

Published

on

By

President Bola Ahmed Tinubu has approved the posting of 65 ambassadors-designate to various Nigerian missions and international organizations worldwide.

The list comprises 31 career diplomats and 34 non-career ambassadors, whose nominations were earlier confirmed by the Senate in December 2025.

According to a statement issued on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the postings assign the envoys to various countries and international missions.

Among the non-career ambassadors, former presidential aide Reno Omokri was posted to Mexico, while former Minister of Aviation Femi Fani-Kayode was assigned to Germany.

Former Minister of Health Prof. Isaac Adewole will serve in Canada, while former Minister of Interior Abdulrahman Bello Dambazau was posted to China.

Other notable appointments include Senator Ita Enang to South Africa, Senator Jimoh Ibrahim as Nigeria’s Permanent Representative to the United Nations, Olufemi Pedro to Australia, and Lateef Kayode Are to the United States.

The President also approved the posting of several career diplomats to key missions.

These include Ambassador Abdussalam Habu Zayyad to Senegal, Ambassador Haidara Mohammed Idris to The Hague, Netherlands, Ambassador Ayeni Adebayo Emmanuel to Belgium, and Ambassador Ibrahim Danlami to Kenya, among others.

The Presidency disclosed that some countries have already issued diplomatic clearance, known as agrément, for Nigeria’s envoys.

The United Kingdom has approved Ambassador Aminu Dalhatu as Nigeria’s High Commissioner, while France has granted agrément for Ambassador Ayo Oke.

The Ministry of Foreign Affairs has also formally notified other host countries of the appointments and requested their agrément in line with diplomatic procedures.

Tinubu has directed the Ministry of Foreign Affairs to immediately begin the induction programme for the ambassadors-designate and high commissioners ahead of their deployment to their respective missions.

Continue Reading

News

Kidnappers Kill Ex-Ebonyi Deputy Governor’s Father, Nine Suspects Arrested

Published

on

By

The Ebonyi State Police Command has confirmed that Ezeogo Francis Igwe, the traditional ruler of Ndufu-Alike and father of former Deputy Governor Kelechi Igwe, has been killed by his abductors.

The victim, Francis Igwe, was the traditional ruler of Ndufu-Alike in Ikwo Local Government Area of the state before his death.

According to the police, the monarch was abducted on Sunday, March 1, 2026, while on his way to church.

Confirming the incident in a statement issued on Friday, the spokesperson of the Ebonyi State Police Command, Joshua Ukandu, said operatives launched intensive operations immediately after the abduction was reported.

Ukandu explained that deploying technical and intelligence assets led to the arrest of two suspects believed to be members of the kidnapping syndicate.

During interrogation, the suspects reportedly confessed that the monarch had been killed on March 2.

“They further volunteered to lead operatives to their hideout and assist in recovering the monarch’s remains,” the statement said.

However, while approaching the hideout, other gang members allegedly opened fire on the police team.

Ukandu said the operatives responded with superior firepower, overpowering the criminals during the gun battle.

“In the course of the confrontation, one of the hoodlums was neutralised, while others fled the scene,” he said.

The police spokesman added that seven additional suspects were later arrested, bringing the total number of suspects in custody to nine.

He also confirmed that one locally made pistol was recovered during the operation.

Ukandu said the remains of the slain traditional ruler had been recovered and deposited in a morgue for autopsy.

The suspects are currently in police custody, while efforts are ongoing to arrest other fleeing gang members.

He added that the suspects would be charged to court after the investigations conclude.

Continue Reading

Trending