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Drama in Abuja: Reps Summon Finance Minister, CBN Governor for Breaking Fiscal Rules!

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The Joint Committees on Public Accounts and Public Assets of the House of Representatives have summoned the Minister of Finance, Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before them on Monday, June 16, 2025. The summons relates to alleged violations of the Fiscal Responsibility Act of 2007.....KINDLY READ THE FULL STORY HERE▶

The top officials are expected to address concerns arising from internal control lapses highlighted in the 2021 audit report released by the Office of the Auditor General for the Federation.

In a joint letter issued on Saturday and signed by the Chairmen of the Committees—Hon. Bamidele Salam (Public Accounts) and Hon. Ademorin Kuye (Public Assets)—the Finance Minister and CBN Governor were directed to provide comprehensive information on the remittance of operating surpluses by the apex bank to the Federation Account, in accordance with existing financial laws and regulations.

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It should be recalled that both the Fiscal Responsibility Commission and the Auditor General had submitted reports accusing several Ministries, Departments, and Agencies (MDAs)—including the CBN—of failing to remit, or under-remitting, their operating surpluses over the past six years, in contravention of statutory provisions.

According to Hon. Salam, “These infractions have adversely affected the federal government’s liquidity position and have hampered the effective execution of national budgets approved by the National Assembly.”

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The Committees noted that sufficient time had been given to both the Finance Ministry and the CBN to reconcile their financial records and clarify their positions. The upcoming hearing is intended to be a final opportunity to resolve the outstanding issues.

Additionally, the lawmakers are reviewing findings in the Auditor General’s statutory report that reveal several fully funded public assets remain incomplete and unused years after project initiation. Projects in Dutse, Abeokuta, and other locations—awarded between 2011 and 2016—were specifically mentioned as still unfinished.

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UNIABUJA Honours Odili, Ali, Issa As 17,300 Students Graduate.

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Yakubu Gowon University (formerly University of Abuja) has graduated 17,300 students at its combined 29th and 30th convocation ceremonies held on Saturday at the main campus.....KINDLY READ THE FULL STORY HERE▶

The university also conferred honorary Doctorate Degrees on Paul Odili, Founder and CEO of Paulo Group of Companies; Prof. Yusuf Ali, SAN; and Emmanuel Issa, in recognition of their contributions to society.

Vice Chancellor, Prof. Hakeem Fawehinmi, said the honourees were selected based on their character, achievements, and commitment to excellence.

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He urged graduating students to focus on what they can contribute to national development, stressing that character, discipline, and integrity would determine their success beyond the classroom.

According to him, certificates may open doors, but personal values and conduct will shape long-term achievements.

The Vice Chancellor also reminded the graduates to uphold the reputation of the institution wherever they go.

Fawehinmi disclosed that the 29th convocation covered the 2022/2023 academic session, while the 30th covered 2023/2024, with thousands graduating across undergraduate and postgraduate programmes.

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Speaking after receiving his honorary award, Dr. Odili dedicated the recognition to Nigerians with dreams and encouraged young people to remain persistent in pursuing their goals.

He also pledged support for the university, promising collaboration aimed at addressing key challenges facing the institution.

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FG Bans Importation Of Paracetamol, Metronidazole And Other Medicines.

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The Federal Government has released an updated list of items banned from importation into Nigeria, in a move aimed at protecting local industries and reducing pressure on foreign exchange.....KINDLY READ THE FULL STORY HERE▶

The revised prohibition schedule, dated April 1, 2026, outlines 17 broad categories of goods that are no longer allowed into the country through any entry point.

According to the Federal Ministry of Finance, the policy affects a wide range of products, including food items, pharmaceuticals, household goods, and industrial materials.

One of the most notable aspects of the list is the ban on several widely used medicines under specified HS codes, including paracetamol, metronidazole, cotrimoxazole, chloroquine, aspirin, folic acid, and some vitamin supplements. The government says these are now to be produced locally.

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The restriction also covers pharmaceutical waste, which remains completely prohibited.

In the agriculture and food sector, the importation of poultry, pork, beef, and eggs remains banned, although an exception was made for hatching eggs used for breeding and research purposes.

Retail-packaged vegetable oils, sugar products, cocoa derivatives, tomato paste, and certain bottled water products are also included in the import restrictions, with emphasis on encouraging local production.

“Sowore: IGP Won’t Be Pushed Into ‘Needless Actions’ – Hundeyin Breaks Silence”.

The policy further bars detergents, soaps, ballpoint pens and refills, cement, certain fertilizers, packaging materials, and specific steel and glass products.

The Nigeria Customs Service has been directed to enforce the new rules strictly, with importers and businesses advised to comply fully to avoid seizure of goods and penalties.

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Momodu Defends Atiku Amid Age Criticism Ahead Of 2027 Presidential Contest.

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ADC chieftain and publisher, Dele Momodu, has dismissed calls for former Vice President Atiku Abubakar to withdraw from the 2027 presidential race, describing the push as unfair and politically motivated.....KINDLY READ THE FULL STORY HERE▶

Momodu was reacting to comments by activist Zekeri Idris Jnr, a supporter of Peter Obi, who urged Atiku to step aside over concerns about his age, which would be about 80 by 2027.

In a post on his X handle on Saturday, Momodu said attention should be focused on holding the government accountable rather than targeting Atiku’s political ambition.

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The exchange followed a viral video where Idris insisted that Atiku should support younger aspirants instead of contesting, arguing that voters would not back an elderly candidate.

Idris also suggested that Atiku should act as a statesman and support younger politicians such as Rabiu Musa Kwankwaso and others.

Responding, Momodu cited several world leaders who held office at advanced ages, arguing that experience should not be dismissed in leadership discussions.

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He questioned what should disqualify Atiku from contesting, insisting that age alone is not a valid reason.

Atiku, who lost the 2023 presidential election to President Bola Tinubu, is reportedly considering another run in 2027 under the African Democratic Congress (ADC).

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