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Reps Panel Warns against Undermining National Intelligence by Poor Funding

By Ubong Ukpong, Abuja
House of Representatives Committee on National Security and Intelligence yesterday warned against undermining the nation’s intelligence by continuing to allocate paltry sums to the sector in the budgets.
The committee therefore asked President Bola Ahmed Tinubu to direct the Minister of Finance to ensure full releases of the 2024 capital allocation to the security and intelligence sector in the overall interest of the nation’s security.
Speaking at the budget defence session of agencies under the office of the National Security Adviser, Chairman of the Committee, Ahmed Satomi (APC, Borno) said it was regrettable that capital allocation to some of the intelligence agencies had not been released, while releases to others have not been encouraging.
Satomi said even though there was an appreciable allocation to the security sector, the intelligence subsector has been grossly underfunded , adding that the committee will look for ways to ensure an increase in the budget to the sector.
Agencies at the budget defence include the Officer of the National Security Adviser, Directorate of State Services, National Intelligence Agency, Presidential Air Fleets, National Centre for the Control of Small Arms and Light Weapons, National Institute for Security Studies (NISS), National Counter Terrorism Centre and the National Cybercrimes Coordination Centre.
Satomi emphasized the importance of collective efforts in ensuring the security and welfare of Nigerian citizens, adding that the committee’s oversight jurisdiction encompasses critical agencies that play vital role in maintaining national security.
According to him, it was the duty of everyone to ensure that they are adequately equipped to discharge their mandates in a responsible and accountable manner.
He recalled that the President presented the 2025 budget of N49.7 trillion to a joint session of the National Assembly with expected revenue of N36.35 trillion and a budget deficit of N13.39 trillion.
While commending the President for allocating about N4.91 trillion to the Defence and Security sector thus underscoring the priority accorded to security in the 2025 Budget, he lamented that the intelligence subsector appears grossly underfunded.
According to him, the intelligence subsector was allocated N595,024,943,368 billion out of which proposed capital expenditure allocation is N274,550,298,453.00, overhead allocation receiving N107,963,187,783 while personnel cost got N212,511,457,132 billion
He said “It is imperative to note that the 2025 Budget is christened the “Budget of Restoration: Securing Peace, Rebuilding Prosperity.” Securing peace presupposes that a lot of engagements with citizens will be undertaken by the government at all levels.
“Deradicalization, disarmament, rehabilitation and reintegration programs etc will have to be carried out as a major non kinetic initiative by the Federal government of Nigeria in collaboration with other tiers of government.
“It is therefore not encouraging to observe that the frontline agencies saddled with statutory responsibilities of countering violent extremism, terrorism, ‘illicit flow of small arms and light weapons, intelligence gathering and analysis, maintenance of national security and ensuring the provision of safe, secure and efficient air transportation for the President, Vice President and other notable government officials are negligibly funded.
“Going by the submissions before the committee, it is heart breaking that an agency like the National Centre for Counter Terrorism has not gotten any capital release for year 2023 and year 2024.
“The National Institute for Security Studies (NISS) and the National Centre for the Control of Small Arms and Light Weapons (NCCSSALW) are yet to receive a single kobo for their Capital projects in 2024. The Capital releases to the DSS and NIA are insufficient to motivate these agencies to work optimality in order to deliver on their critical mandates.
“I am therefore calling on the president of the Federal Republic of Nigeria, President Bola Ahmed Tinubu GCFR to please intervene NOT just for an increase in the allocations to the agencies in the intelligence sector but to also direct the Minister of Finance to as a matter of national security, prioritize the full release of all outstanding 2024 Budget allocations to the intelligence agencies and sustain the practice of prompt releases to them going forward”.
He said the ultimate goal of the National Assembly is to enhance national security and promote the well being of citizens, assuring that the budget allocations will align with our national security objectives.
In his remarks, Permanent Secretary, Special Services in the Office of the National Security Adviser, Mohammed Sanusi Danjuma said the proposed budget is tailored towards addressing the evolving security challenges facing the nation, ensuring the effective coordination of security agencies, seamless intelligence gathering and information sharing, and other specialized services to enhance National Security.
He said the budget will enhance coordination and Collaboration by strengthening partnerships within security agencies to foster a more cohesive and responsive security architecture; enhance infrastructural development by improving existing operational facilities and equipment to support efficient service delivery and ensure capacity building and manpower development by upgrading the skills and expertise of personnel to address emerging security challenges.
He said, “It is worthy to note that the envelop system of budgeting provide a lot of constrain in terms of resources allocation to the community. However, despite this challenge the agencies try to strike a balance between their operational needs and the government’s fiscal constraints”.
He assured that of the commitment of the Intelligence Community to transparency, accountability and effective resource management by ensuring that the budgetary provisions align with the government’s overall security objectives.
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Aliko Dangote Steps Down as Chair of Dangote Sugar

Africa’s richest man, Aliko Dangote has stepped down as Chairman of the Board of Dangote Sugar Refinery Plc, marking the end of a two-decade leadership that transformed the company into a dominant force in Nigeria’s sugar industry.According to a corporate disclosure on Wednesday by the company’s Secretary, Temitope Hassan, Dangote’s retirement from the sugar company’s board takes effect from June 16, 2025Africa’s richest man, Aliko Dangote has stepped down as Chairman of the Board of Dangote Sugar Refinery Plc, marking the end of a two-decade leadership that transformed the company into a dominant force in Nigeria’s sugar industry.
Dangote has chaired the board since 2005, overseeing its significant growth and transformation, including major expansion projects and implementing best practices in corporate governance.“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors, Alhaji Aliko Dangote, effective June 16, 2025,” the statement said.Under his leadership, the company launched key Backward Integration Projects (BIP) in Adamawa, Taraba, and Nasarawa States to boost local sugar production and reduce Nigeria’s reliance on imports.Following a “rigorous selection and transition process,” the Board has appointed Mr. Arnold Ekpe, an Independent Non-Executive Director and former Group CEO of Ecobank, as the new chairman.We are pleased to announce the appointment of Mr. Arnold Ekpe as the new Chairman of Dangote Sugar Refinery Plc, effective June 16, 2025,” the statement added.Ekpe brings decades of experience in banking and corporate governance, with a strong track record in leading multinational institutions across Africa.The Board thanked Dangote for his exemplary leadership and unwavering commitment to the company’s vision.“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our company’s journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of outstanding service,” the statement stated. (NAN)COVER
Police Arrests 42 Armed Bandits, Remands 10 Herders over Benue Killings

From Attah Ede, Makurdi
The Benue State Police Command said it has arrested 42 local armed bandits and herders across some communities in the state.The Commissioner of Police in the State, Ifeanyi Emenari, who disclosed this during his maiden media briefing held at the police officer mess Makurdi explained that those arrested were suspected to have been involved in the incessant killings going on in the state.
He pointed out that the armed Fulani herdsmen and bandits will face full trial. According to Police Commissioner Emenari, most of the suspects were arrested upon his assumption of duty in the last one month.He maintained that the command had taken the fight to those responsible for the attacks and killings in Benue communities, stressing that tactical teams have already been drafted to flashpoints across communities in the state.”I was posted to Benue State on the 24/04/2025 and assumed duty on the 26 April 2025. Upon assumption of duty, I step up strategic plans to tackle insecurity in the state.”I visited crisis areas such as Ankpali in Apa, Naka in Gwer West, Ayilamo in Logo, Amafu in Katsina-Ala, Ukum, Agatu, Udei, Yogbo in Guma Local Government Areas, and many others. I had discovered that farmlands have no farmers. Therefore, we have deployed our tactical teams to the areas and are now combing the communities in search of the killers.”We have a mandate to ensure that these communities are safe for the people to go back to their homes and engage in farming activities.”And in the last one month we have arrested 42 armed herdsmen and local bandits from these communities. Most of them have been charged to court.”We also have about 10 herdsmen who have been remanded by the courts in the course of their trial.”Apart from those already charged to court, there are others who are still being investigated and they would be charged to court at the end of investigations.””The command also recovered two AK47 rifles and 21 locally made firearms from the suspects. We had taken the fight to cult gangs in the state “that is why we have not witnessed or recorded cult related attacks in the state in the last one month since I assumed office.The kidnap incidents that happen regularly along Makurdi – Lafia federal highway have reduced drastically as we have arrested those perpetrating the acts and are currently in jail.”We have designed a plan to respond to any distress call within 30mns depending on the locations within the state”, Emenari added.The CP assured that the command would ensure that peace and security is restored to every nook and cranny of the state.He appealed to Benue people particularly in the rural communities and urban centres to cooperate with the police in its task of ensuring the security of lives and property in the state.He commended Governor Hyacinth Alia for his support to the Command, maintaining that his desire to ensure peace and security in the state would be achieved.”The entire governor wanted to make sure farmers go back to their farms and people are provided with adequate security to enable them to go on with their lawful business. We are ready to achieve that with the governor support”, he saidSimilarly, the Benue State Governor, Fr. Hyacinth Alia has reiterated that some politicians and “Religious bandits” are responsible for the needless crisis and aiding the killings of innocent people in the State.The Governor stated this while addressing the Pro-Tinibu group who staged a rally at the Government House Roundabout Makurdi, the state capital as part of the activities marking this year’s June 12 Democracy Day celebration.According to the Governor, “The Religious Bandits are the ones fuelling the insecurity situation being experiencing in the state.”They are doing this through their consistent rhetoric of unverified comments and distortion of facts.”There are some religious leaders I call ‘religious bandits’ who are fueling the bad situation we are experiencing here. And how do they support that, by their rhetoric. If you do not have the facts about Benue and Nigeria, shut up. Don’t just say something because you have the holy altar and oil to speak. Speak what you know and what can be verified.”There are some leaders who are fanning the embers of discord that peace should not return to the State.”We are still faced with insecurity as our people are killed unprovoked. We will take out this total menace and carnage of killings. We will not rest on our oars to ensure that total peace returns to Benue especially in the 6 LGAs that are in the frontline of insecurity.”Am confident that with the support of the President, we are going to get rid of insecurity completely in the State. Some traditional and religious leaders are also marching and fighting with us for peace to return to the State. Our people are suffering a lot and for some of us we have taken an oath to defend them and bring back peace”.”The day calls for sober reflection of how far the state and nation has journeyed in 26 years of uninterrupted democratic government, adding “We must pay tribute to the heroes who fought for democracy and sacrificed their lives for the unity of the country”Those heroes some are with us, others have gone to be with the Lord. They went through a lot including imprisonment, sacrificing for the unity of our country. It is not yet over for us. As we celebrate this day, people of conscience should note that what unites us is greater than what divides us. So, we must think positively for the State and the nation. We should have faith and hope for the nation.”Let us have a change of attitude and a different way of thinking. Let us sacrifice for the state and nation some more. Bring solutions to us and stop putting kerosene on fire. Let us know that Nigeria is our country and we can’t have another one.”Let us be our brother’s keeper. To the youths, a new Benue is possible and you are the new Benue. Let us do our best to ensure that Benue State is for prosperity and is secured. I am with the masses because they are with the people”, he stated.COVER
CBEX Remains Banned in Nigeria, SEC Warns Investors

By Tony Obiechina, Abuja
The Securities and Exchange Commission (SEC) is insisting that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, remains banned in Nigeria as it has not been registered by the Commission.
SEC in a statement yesterday advised the public to refrain from patronising or transacting any investment related business with the CBEX. The notice read: “The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, has resumed operations across Nigeria.“According to the reports, CBEX promoters are demanding $200 from their subscribers with balances above $1,000, and $100 from those with less than $1000 balances before withdrawals can be processed”.The Commission stated “unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment related services to the Nigerian public.“As a matter of fact, enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities and the Commission is collaborating with relevant Law Enforcement Agencies to properly investigate CBEX/ST Technologies International Ltd and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025.“The Nigerian public is accordingly advised to refrain from patronising or transacting with CBEX /ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds”.The SEC advised investors to verify the registration status of Investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before transacting, adding that it remains committed to protecting investors and maintaining market integrity.