By Andrew Oota, Abuja

The Minister of Finance, Wale Edun has confirmed Nigeria’s exit from the International Monetary Fund (IMF) loan of $3.4 billion.Nigeria had borrowed $3.4 billion from the IMF during the Covid-19 pandemic.According to the minister, “the loan had been repaid on the agreed terms.

””The West African nation now has no outstanding IMF debt, though the Fund expects it to honor some additional payments of roughly $30 million a year in Special Drawing Rights charges, ” IMF resident representative for Nigeria Christian Ebeke said in a separate statement. ”Still, the repayment is a mark of the country’s improved financial position, with the central bank’s net foreign exchange reserves, reaching a three-year high last month.”Nigeria has sought to improve local dollar liquidity after years of running a fixed exchange rate regime that burdened the economy of Africa’s largest oil producer, with a wildly overvalued local currency.”President Bola Tinubu’s free-floated the Naira after taking office in 2023 as part of a broader campaign of economic reform, contributing to the currency losing more than 70% of its value against the dollar.” He said.The Senior Special Assistant on Digital and New Media to President Bola Tinubu, O’tega Ogara had earlier hinted about the debt repayment.The IMF, in the credit outstanding list covering May 1 to May 6, 2025, disclosed that over 90 countries owe $117.79 billion, noting that Nigeria was not among the indebted nations.The IMF published the list on Tuesday.The institution revealed that it disbursed SDR 2.45 billion to Nigeria in 2020, saying repayments were made between 2023 and 2025.It noted that SDR613.62 million was made in 2023, SDR1.22 billion in 2024, while SDR613.62 million was paid in 2025.The development was also confirmed by Tolu Ogunlesi, the former Special Assistant on Digital and New Media to ex-President Muhammadu Buhari, via a post on his X (formerly Twitter) account on Thursday, May 8.Ogunlesi, who was serving his second term when the loan was obtained, stated: “This US$3.4 billion (equivalent to 2.454.5 billion SDR; amounting to 100% of our SDR quota) Covid-19 assistance from the IMF to Nigerian governors, under the IMF’s Rapid Financing Instrument (RFI), has now been fully repaid, in line with the terms of the agreement.“A repayment period of 5 years, meaning 2020 to 2025, and a moratorium of 3.25 years, meaning that we had a grace period until Q3 2023 before we had to start repaying.“So, repayment schedule: 2023-2025.“PBAT has kept to the terms, and as of May 2025, the loan has been fully repaid. Naija no dey carry last, and we no dey default.“This is what the repayment looks like, from the @IMFNews website: Outstanding as at June 30, 2023: 2,454,500,000.“Dec 31, 2023: 1,840,875,000; June 30, 2024: 1,227,250,000; March 31, 2025: 306,810,000; May 07, 2025: 0.”

By David Torough, Abuja, Attah Ede, Makurdi

A non-partisan group under the aegis of the OnTiv Professionals Association (OPA), Abuja has petitioned the Inspector General of Police, raising the alarm over the persistent attacks and killings of innocent citizens in Benue State by suspected Fulani herdsmen.

In the petition submitted to the Force Headquarters in Abuja, the group condemned what it described as systematic and orchestrated acts of terror, asserting that the attacks have devastated communities, displaced millions, and crippled the economy of the state. The petition, jointly signed by the OPA President, Abraham Aku and the General Secretary, Akaanan Jacob Gwaza lamented that the unrelenting violence has turned Benue—once known for its rich agricultural productivity into a “Theatre of horror.”“Over 300 lives have been lost in recent coordinated attacks across local government areas including Kwande, Ukum, Logo and Katsina-Ala. Homes have been reduced to ashes, and farmlands destroyed,” the petition reads in part.Particularly tragic was a recent attack in Otobi-Akpa community in Otukpo Local Government Area, where no fewer than 11 bodies were recovered. The incident was confirmed by Hon. Agbo Kennedy, the lawmaker representing Otukpo/Akpa State Constituency, during a live appearance on Channels Television on April 15, 2025.The association warned that the attacks are no longer mere clashes between herders and farmers but a full-blown insurgency allegedly perpetrated by a militia group with a suspected agenda against the Benue Valley. They pointed to the use of military-grade weapons such as AK-47s, RPGs, GPMGs, and even drones in the assaults.In a strongly worded call for action, the group demanded that the Federal Government deploy Special Forces and surveillance technology to flush out the attackers.They also called for the declaration of Fulani herdsmen as a terrorist organization and urged the prosecution of those behind the violence.“Where is the President, the National Assembly and our state governor while our people are butchered like animals?” the petition questioned.The group also urged Benue State Governor, Rev. Fr. Hyacinth Alia, to break his silence and enforce the existing anti-open grazing law which, they claimed, had previously offered protection to communities before his tenure.They concluded by stressing the need for urgent intervention to prevent a descent into anarchy and a situation where residents may be forced to resort to self-help in the absence of security.OPA reaffirmed its commitment to peace and rule of law but warned that the patience of the people is wearing thin amid growing frustration and continued bloodshed.Agatu Council Boss Confirms Killing of District Head by Armed Herdsmen in Benue The chairman of Agatu local government council, Melvin James Ejeh yesterday confirmed the killing of the District Head of Odugbeho, Chief Tony Adejo from Agatu Local Government Area of Benue State by suspected armed herders.Ejeh, who confirmed the development when spoke with newsmen on phone in Makurdi, said Chief Adejo was gruesomely killed in his farm at Akpa-Otobi by the suspected herders who invaded the area at about 10 am of Wednesday.He described late chief Adejo as a peace builder, an astute community builder and a community leader who would be greatly missed by all.Ejeh explained that the late chief was working on his farm in Otobi-Akpa, Otukpo local government area before some mindless criminals went and killed him.”I can confirm to you that the district head of Odugbeho chief Tony Adejo has been killed. He was killed by some armed men while working on his farm at Otobi in Otukpo local government area of the State.”Despite hearing this ugly news, Odugbeho community is calm, our people is calm because we will not take law into our hands. We are just mourning the death of a community leader.”Nobody is taking law into his hand, there is no need for reprisal attack because the incident did not happen on ground. Therefore, Agatu is calm and peaceful as usual”, Ejeh stated.The Agatu council boss however enjoined all Agatu indigenes, who are in and outside Agatu communities to be security cautious and be closer to security agents to avoid being fall victims of herder’s attacks.He further urged them to relate closely with the chairman of any local government areas they are and also work with other local authorities and community leaders and be ready to report any suspicious criminals to the appropriate authorities.”Agatu people residing and farming in other local government areas should be careful and watchful with their movement. They should liaise with local authorities and know the areas that are safe to work for now since the government is trying to curb the issue of insecurity in the whole of zone c”, he explained.The Benue State Command Police Public Relations Officer, Catherine Anene, could not be reached for comment as she could not respond to text or calls.

By David Torough, Abuja

The Nanedi Usman-led National Executive Council (NEC) of the Labour Party has set up a five-man disciplinary committee to investigate alleged gross misconduct against a factional leader, Julius Abure.The NEC also gave Abure 48 hours to explain why disciplinary actions should not be taken against him over the alleged misconduct.

Chairman of the party’s Caretaker Committee, Sen. Nenadi Usman made this known on Monday at a news conference in Abuja. Usman said that the action was in the exercise of the NEC’s constitutional mandate and in strict accordance with the disciplinary provisions of the party’s 2019 Constitution, as amended.“The NEC in session hereby announces the commencement of disciplinary actions against Mr Abure.“These actions have started with the constitution of a special investigative committee to review the actions of Mr Abure, as it affects the image and integrity of the party.“NEC gives Mr Abure 48 hours’ notice to show why disciplinary actions should not be taken against him for his numerous acts of gross misconduct against the party.“They are actions that threaten the unity, integrity and public image of our party,” she said.Usman further stated that NEC took the decision due to Abure’s continued impersonation and misrepresentation of the office of the National Chairman.“We can no longer stand by while the values we hold dear – transparency, discipline and democratic accountability – are undermined from within.“This press conference is convened to address the growing concern over the misconduct and internal rascality plaguing our party.“At a time when Nigerians are yearning for credible leadership and they see the Labour Party as a beacon of hope, it is regrettable that we must battle internal sabotage from those who should know better.“Rather than unifying the party, he undermines it. Rather than attract credible Nigerians to come and join, he alienates them. Instead of advancing our collective vision, he pursues narrow personal ambitions,” Usman said.The former Finance Minister said it was most painful that Abure targetted those who had brought credibility and national visibility to the party.“Mr Peter Obi and Gov. Alex Oti represent the aspirations of a new Nigeria. Gov. Otti stands out today as one of the most effective and respected governors in the country.“These men have sacrificed, not for personal gain but to give the Labour Party and Nigeria a real shot at transformation. What they demand is simple: a party that is transparent, democratic and accountable.“Instead of embracing this vision, Abure chooses confrontation and chaos. We say today, this must stop,” she said.Usman said that a formal notice of the action would be sent to Abure.The committee is chaired by Sen. Ireti Kingibe, with Peter Ameh as the Secretary.“Mr Abure is hereby warned to desist from parading himself as the National Chairman of the Labour Party or impersonating the office in any form.“The apex court of the land has clearly and finally nullified his claim to leadership and his tenure has long expired by the passage of time,” Usman said.Recall that the Abure-led NEC had recently set up a disciplinary committee to probe what it called Otti’s anti-party activities.Speaking further, Usman said that investigations had revealed that Abure illegally issued State Executive Committee letters every three months, in breach of LP’s constitutional provisions.These, the former minister said, had been nullified.She added that the leadership of the party would launch a nationwide membership registration and revalidation exercise in the coming weeks.Responding to questions on the likelihood of the party going into coalition with others, the party’s National Secretary, Sen. Darlington Nwokocha, said that LP would only welcome any coalition that would be beneficial to it.Labour Party Suspends Otti, Nwokocha, Kingibe, OthersThe Labour Party has announced the indefinite suspension of six prominent members, including Abia State Governor Alex Otti, Senators Darlington Nwokocha and Ireti Kingibe, over alleged anti-party activities.Others suspended were Victor Afam Ogene, Amobi Ogah, and Seyi Sowumi.The party’s National Executive Council said the decision followed the recommendations of a five-man Disciplinary Committee set up on May 2, to probe allegations of anti-party conduct.In a statement by the National Secretary, Umar Farouk Ibrahim yesterday, the party said the suspension takes immediate effect and bars the affected members from participating in any Labour Party activities.The statement read, “Recall that last Friday, 2nd of May 2025, the National Executive Committee (NEC) of the Labour Party set up a Five man Disciplinary Committee headed by the Deputy National Chairman, Dr.Ayo Olorunfemi, Alhaji Umar Farouk Ibrahim, the National Secretary and three others to investigate Abia State Governor, Dr. Alex Otti and any other party members over allegations of anti-party activities.“The Disciplinary Committee has concluded their assignment and has submitted their report to the party leadership. The National Executive of the party met today May 7th, 2025 and after exhaustive deliberation in line with powers donated to it by the Party Constitution has ratified the recommendation as submitted by the Disciplinary Committee.“Consequent upon that, the following members of the party have been suspended from the party and all its activities, indefinitely and with immediate effect. 1. Dr. Alex Otti; 2. Senator Ireti Kingibe; 3. Senator Darlington Nwokocha; 4. Hon. Victor Afam Ogene; 5. Hon. Amobi Ogah; 6. Hon. Seyi Sowunmi.”The party also addressed the omission of Nenadi Usman from the suspension list, stating that she is not a registered member of the Labour Party, but a supporter of its 2023 presidential candidate.“We are aware that she is a member of the Obidient Support group that worked and is still working for the party’s 2023 presidential candidate. We will therefore not honour her with any sanction being not a member of the party,” the statement added.It also accused Usman of lacking the moral authority to comment on corruption, citing her alleged plea bargain with the Economic and Financial Crimes Commission and purported asset forfeitures.“She should also tell Nigerians how she acquired her radio station in Kaduna, all her properties all over Nigeria and abroad, her companies in Cameroon, including her plantations. Nenadi Usman lacks the moral capacity to commence any probe or even talk about corruption,” the statement added.Reaffirming its stance on political alliances, the Labour Party said it would not join any coalition or merger ahead of the 2027 general elections.“Labour Party intends to prosecute the 2027 general election as stand alone party and no further discussion will be entertained on this matter,” the statement concluded