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How Buhari Shot Down $418m Paris Club Refund to Contractors

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By Joseph Amah, Abuja

Interesting details have emerged on how President Muhammadu Buhari, a week ago, shot down plans by the federal government to commence a phased payment of the $418 million Paris Club refund, allegedly owed four contractors from the federation account, but not before some heated debate among ministers had first taken place.


The instruction expressly directed to the Minister of Finance, Zainab Ahmed, followed efforts by some ministers, who during the weekly Federal Executive Council (FEC), moved against the idea being pushed by the Attorney General of the Federation and Minister of Justice, Abubakar Malami and Ahmed, saying the idea was insensitive to time and inimical to current realities in the country.


After suspending the planned deductions, the president  immediately set up a committee, majorly of Senior Advocates of Nigeria (SAN) in the cabinet to take a wholesome look at the matter again and advise appropriately.
The Nigeria Governors’ Forum (NGF), had last week, resisted renewed move by Malami to pay the money.
In a letter to the federal government, through the Secretary to the Government of the Federation (SGF), Boss Mustapha, the governors contended that, restarting the deduction process, which was being challenged in court.
According to the letter, signed by Chairman of the NGF and outgoing Governor of Ekiti State, Dr. Kayode Fayemi, the governors described the new move as an “attempt by the Attorney General of the Federation (AGF), Abubakar Malami, and the Minister of Finance (HMF) to circumvent the law and the recent judgement of the Supreme Court by surreptitiously securing the approval of the FEC to effect payment of the sum of $418 million to four contractors, who allegedly executed contracts in respect of the Paris Club refunds to the states and local governments.”


Specifically, in their letter, the governors were of the position that the essence of the definitive pronouncement by the Supreme Court was that none of the contractors recommended for payment of the sum of $418 million could be so paid, because the contracts and payments relied upon were not processed as prescribed by the constitution and the law.


However, at the FEC meeting of Wednesday, August 3, Ahmed and Malami, had presented a memo, asking the cabinet to approve the deductions from funds due to states from the federation account.


Unfortunately for the duo, prior to the FEC, the governors had written to all ministers and also met some of them in persons, explained their position as well as sought their intervention in stopping the planned deduction being pushed by both Ahmed and Malami.


Thus, soon after Ahmed and Malami made their presentations, they were immediately countered by Ministers,  the Secretary to the Government of the Federation, Boss Mustapha and the Vice-President, Yemi Osinbajo.
According to sources, the FEC members, who spoke against the deduction contended that it would be sub-judicial for any payment to be made to the contractors while cases were pending in courts.


Even more instructive, they held the view that it was insensitive of their colleagues to have brought forward a proposal for the payment of controversial debts to contractors at a time the government was battling to pay workers and fulfilling its obligations to citizens.


A source hinted: “Our argument was simple and it was the fact that since the issue was being challenged in court, and there was a supreme court pronouncement in place, it would be illegal to go ahead with the planned deductions.


“What further drove our argument home was that, we contended that the planned deductions was also made against the context of the nation’s economic crisis, poor revenue, and uncertain fiscal position. So, our the FEC would sit back and agree to that was clearly impossible.”


However, after all the ministers had submitted their arguments, the president, another presidency source disclosed, spoke in support of the ministers’ position, and instructed that the planned deductions be suspended for further review.
The president, it would be recalled, had earlier approved the payment through the issuance of promissory notes, based on proposals by Malami and Ahmed, but the move was resisted by the governors, who approached the court for redress through their attorneys-general.


The governors insisted that the matter was on appeal at the Court of Appeal in Abuja, adding that the Nigerian government should exercise restraint in its handling of the matter.

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Nigeria, Germany Deepen Economic Cooperation, Strengthen Partnership

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By Tony Obiechina, Abuja

The Federal Government has reaffirmed its commitment to strengthening Nigeria’s bilateral relations with Germany, with renewed focus on economic cooperation, investment promotion, energy partnerships, and the effective implementation of existing agreements.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this statement during a  visit to the Ministry in Abuja on Monday by the Ambassador of the Federal Republic of Germany to Nigeria, Stefan Rössel.

The minister welcomed the ambassador and his delegation, expressing Nigeria’s appreciation for Germany’s longstanding partnership and support for the country’s economic reform programme, particularly in the early stages of implementation.

He recalled that when German Chancellor Olaf Scholz visited Nigeria, the Federal Government was pursuing significant economic reforms that required support from international partners, including Germany, the World Bank, the International Monetary Fund and the European Union.

The minister said Germany’s support has contributed to Nigeria’s progress in its reform efforts, adding that the country remains grateful for the cooperation and assistance it has received from its development partners.

He also acknowledged Germany’s role in facilitating high-level engagements between the two countries, particularly in trade, investment and energy cooperation, noting that discussions during the Nigerian President’s visit to Germany advanced talks on key energy agreements.

Senator Bagudu further commended Germany’s commitment to multilateral cooperation and international engagement, emphasising the importance of sustained partnerships to address evolving global economic and political challenges.

He noted that Nigeria and Germany had built a strong foundation for bilateral cooperation over the years, with significant opportunities to expand their partnership in areas that support economic growth and development.

The minister disclosed that discussions had covered cooperation involving €25 million and €300 million in export credit guarantees, identifying these as important areas for continued engagement as Nigeria seeks to expand investment opportunities and strengthen its capacity to utilise available resources effectively.

According to him, Nigeria’s reform efforts have created an opportunity to place greater emphasis on attracting investment, strengthening productive capacity, and translating international partnerships into tangible economic outcomes.

He assured the German ambassador that the ministry was prepared to work closely with the German government and its relevant institutions to deepen bilateral relations and broaden areas of mutual interest.

Earlier, Ambassador Rössel expressed appreciation for the warm reception he received, describing the relationship between Nigeria and Germany as strong and longstanding.

The ambassador, who arrived in Nigeria a few weeks ago, reaffirmed Germany’s commitment to building on the partnership’s achievements and to exploring opportunities for further cooperation.

He acknowledged that both countries were operating in an increasingly complex global environment characterised by evolving strategic, political and economic challenges.

Despite these circumstances, Ambassador Rössel expressed confidence that the longstanding relationship between Nigeria and Germany would provide a solid foundation for addressing emerging issues and sustaining mutually beneficial cooperation in the years ahead.

He also welcomed the ministry’s readiness to continue working with Germany, noting the importance of maintaining established partnerships while adapting to evolving circumstances.

In her remarks, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, congratulated Ambassador Rössel on his appointment, welcomed him to Nigeria, and expressed the ministry’s readiness to collaborate with him and with relevant German agencies.

She emphasised the importance of translating bilateral agreements and shared commitments into practical outcomes, noting that effective implementation remained critical to achieving the partnership’s objectives.

Dr Uzoka-Anite assured the ambassador that the ministry would continue to facilitate collaboration and support efforts to ensure joint initiatives progressed efficiently and delivered meaningful results.

The Permanent Secretary of the Federal Ministry of Budget and Economic Planning, Dr Deborah Odoh, also welcomed the German delegation, describing Germany as a reliable partner whose technical expertise, knowledge exchange and experience had contributed to Nigeria’s development.

She said the ministry expects the ambassador’s tenure to create further opportunities to strengthen cooperation and to advance the longstanding relationship between the two countries.

The courtesy visit reaffirmed Nigeria and Germany’s shared commitment to sustaining bilateral engagement, deepening economic cooperation, and exploring opportunities for expanded investment and development collaboration.

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DAILY ASSET Appoints Torough, Editor, Names Eze, Deputy

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By Laide Akinboade, Abuja 

As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.

A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.

“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.

In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.

“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.

Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.

“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.

He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.

Torough, the new Editor has had a steady rise in the Newspaper in the last five years.

A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor.  He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment. 

Torough  has  attended several journalistic workshops and trainings to properly equip himself for the task ahead.

The statement also said the Management named Eze Okechukwu as Deputy Editor.

Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and  DAILY ASSET Newspaper correspondent  covering the Senate, having joined the organization in 2021.

Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.

Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.

Aside from his journalistic excellence, he has a great deal of passion for sports.

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Insecurity: Northern Govs, Monarchs Seek Six-month Mining Suspension

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From Ngutor Dekera, Kaduna and Aliyu Askira, Kano

Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.

The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna.
The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils.
The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.

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