Aeesha's Blog

Category: Breaking News

  • Drug Trafficking: India Deports 32 Nigerians After Major Crackdown

    Indian authorities have deported 32 Nigerians linked to an alleged transnational drug network, following an extensive multi-state security operation that resulted in the arrest of about 50 suspects, NAN reports.

    The operation, described by Indian officials as one of the country’s largest coordinated crackdowns on a foreign-run narcotics and hawala syndicate, was carried out by the Elite Anti-Narcotics Group for Law Enforcement (EAGLE) in collaboration with the Delhi Police.

    According to a report by the Times of India on Wednesday, investigators traced the network to a Nigeria-based fugitive kingpin identified simply as “Nick,” said to be wanted in multiple drug-trafficking cases.

    A senior EAGLE official disclosed that all the suspects arrested in Delhi were allegedly working for the said kingpin.

    “Less than 10 days after the EAGLE team, in coordination with the Delhi Police, nabbed 50 Nigerians linked to drug peddling, 32 of them have been deported.

    “During the probe, the officials found that the foreign drug peddlers were working for one Nick, who is wanted in multiple cases registered by EAGLE,” the official was quoted as saying.

    Investigators also reported that the kingpin, believed to be operating from Nigeria, maintained more than 100 associates in Delhi alone, running what authorities described as a multi-layered supply chain serving clients across India.

    A forensic review of digital devices recovered from the suspects reportedly revealed a client base of over 3,000 individuals nationwide. Investigators said the database was compiled from payment records, encrypted communication logs and delivery contacts.

    The report added that, in several instances, payments for drug transactions were routed through businesses that appeared legitimate but were allegedly used for laundering proceeds.

    It further indicated that the probe uncovered a chain of companies implicated in cleaning illicit funds.

    “In one instance, a publisher laundered Rs 20 lakh to Nigeria after partnering with the peddlers. Similarly, some of the peddlers tied up with businessmen dealing in footwear and apparel,” the report stated.

    Authorities said the Delhi Police processed the deportation of 32 of the Nigerians “on priority,” while seven others are facing prosecution after drugs were reportedly recovered from them during the raid.

    Officials added that the remaining suspects “may also be deported,” subject to clearance and documentation review.

  • Alleged Fraud: EFCC Seals Sylva’s Abuja Residence

    Former Minister of Petroleum Resources, Chief Timipre Sylva, has condemned the sealing of his Maitama residence in Abuja by operatives of the Economic and Financial Crimes Commission (EFCC).

    Sylva’s Special Assistant on Media and Public Affairs, Mr Julius Bokoru, made this known in a statement on Monday in Abuja.

    The statement, titled “A grave breach of decency: EFCC’s attempted raid and defacement of Sylva’s family home,” described the commission’s latest action as unlawful and conducted without adherence to due process.

    News reports that the EFCC had, in November, declared Sylva wanted over an alleged 14.8 million-dollar fraud. Earlier, military intelligence personnel raided the former minister’s residence, arresting his brother and driver in connection with an alleged failed coup attempt.
    Sylva had written to the EFCC last week, proposing a mutually agreed date to honour its invitation.

    According to Bokoru, the sealing of the residence was carried out “without a single letter, without a subpoena, without a warrant, without notification, and without even the most basic adherence to lawful process.”

    He said the officers spray-painted parts of the building in red with the inscription “EFCC — Keep Off,” describing the act as unbecoming of an institution expected to operate within the law.

    “What unfolded today at the Maitama residence of His Excellency, Chief Timipre Sylva, was nothing short of an affront to decency and a troubling assault on the very principles that underpin a civilised society,” he said.

    Bokoru added that the residence had served as the only available space for Sylva’s children, relatives and staff, who had been restricted to the premises for weeks.

    “It is the last space available to them, especially now that it appears they are not permitted to leave the country freely. To violate such a place without warning, without justification, is to inflict terror upon innocent people who have no connection whatsoever to political gamesmanship,” he said.

    He queried the treatment of Sylva’s family, asking, “Where are his children expected to go? How long must they endure this atmosphere of fear and uncertainty?”

    Describing the EFCC’s action as “arbitrary” and “vindictive,” Bokoru said it undermined democratic values and the principles the commission was established to defend.

    He distanced President Bola Tinubu from the development, noting that the President had demonstrated consistent respect for due process throughout his public service career.

    “This latest incident bears all the hallmarks of local political rivalry being misinterpreted, or mischievously presented, as federal instruction. It is a dangerous muddling of partisan ambition with national authority,” he said.

    He urged government agencies to resist being used as instruments in political disputes, saying such tendencies weaken public institutions and threaten democratic stability.

    Bokoru noted that several of Sylva’s aides and domestic staff — Paganengigha Anagha, Friday Lusa Paul, Musa Mohammed and Police Officer Reuben Ayuba — remained in detention for weeks on what he described as unclear allegations.

    “These are ordinary men, with families and hopes of their own, now caught in a political dragnet that has stripped them of clarity, certainty and liberty,” he said.

    He said their prolonged detention was unjust and reflected a wider injustice unfolding around the former minister.

    Despite the concerns raised, Bokoru expressed confidence that justice would prevail.

    “Nigeria has weathered storms before — storms of uncertainty, of injustice, of heavy-handedness — and emerged stronger. We believe justice will rise above intimidation and that truth will outlast malice,” he stated.

  • CBN Waives Cash Withdrawal Limit Fees On Dollar Transactions

    The Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions not to apply the revised cash-withdrawal limit charges ll on dollar-denominated transactions or other dealings involving foreign currencies.

    The directive is contained in the apex bank’s FAQs on Revised Cash-Related Policies issued at the weekend and made available to newsmen.

    News reports that under the revised cash-related guidelines, individuals are restricted to a cumulative weekly cash withdrawal limit of N500,000 across all channels, including ATMs, POS terminals and over-the-counter transactions.
    Corporate account holders are permitted to withdraw up to N5 million per week.

    Dr. Rita I. Sike, Director, Financial Policy and Regulation Department of the CBN, explained that the policy seeks to reduce the rising cost of cash management, enhance security around cash movement and mitigate risks associated with money laundering.

    According to the bank, while the new policy becomes effective on Jan. 1, 2026, it applies to all deposit-taking financial institutions, including commercial, merchant, non-interest, payment service, primary mortgage and microfinance banks.

    Responding to concerns on whether the limits apply to foreign currency withdrawals, the CBN clarified that:
    “No, the limits do not apply to foreign currency withdrawals. However, the limit applies to local currency (naira) withdrawals using a foreign card.”

    The bank further explained that processing fees are charged only on excess withdrawals above the prescribed limits. It noted that the fees are calculated as a percentage of the excess amount.

    The document added:
    “For instance, if an individual withdraws a total of N700,000 in a week, the person has exceeded the weekly limit of N500,000 by N200,000. With a processing fee of three per cent, the individual will be charged N6,000 only.”

    The CBN instructed financial institutions to implement the policy by configuring system limits, monitoring compliance, preparing relevant regulatory reports and applying excess-withdrawal fees where necessary.

    It added that excess withdrawal fees remain non-refundable, and customers are not required to provide documentation or justification for transactions above the limits, although the applicable charges must be applied.

    On cheque processing, the CBN said that although cheques could still be cashed over the counter, any amount above the stipulated limits would attract excess-withdrawal fees.
    It also clarified that third-party cheques above N100,000 cannot be cashed and must be deposited into an account.

    It stated that the same rules apply to corporate cheques issued to third parties, while corporate entities may withdraw up to N5 million weekly in line with the new limits.

    On reporting obligations, the bank said financial institutions must maintain detailed logs for audit and compliance purposes, including reports on cash withdrawals exceeding the prescribed limits, cash deposits and processing fees charged.

    The apex bank noted that while certain government revenue-generating accounts are exempt from the limits, religious organisations are not exempt.

    It also noted that microfinance and primary mortgage banks are exempt from the limits only for the purpose of sourcing operational cash from their correspondent banks, stressing that their customers remain subject to the withdrawal caps.

    The CBN added that the policies would be reviewed periodically in line with economic developments.

    It stated that financial institutions are not permitted to vary the prescribed limits at their discretion.
    However, in the event of temporary cash shortages, banks may reduce the limits and report such decisions to the Director, Currency Operations and Branch Management Department, with a copy to the supervisory department in the CBN.

  • PDP Crisis: Turaki-led NWC To Meet State Chairmen, Lawmakers Wednesday

    The leadership crisis within the Peoples Democratic Party (PDP) is expected to dominate discussions this week as the Tanimu Turaki-led National Working Committee (NWC) begins a fresh round of engagements with key stakeholders across the country.

    A member of the NWC, who spoke on condition of anonymity because he was not authorised to comment publicly, told the News Agency of Nigeria (NAN) on Monday that the meetings were part of efforts to stabilise the opposition party and address rising internal tensions.

    Confirming the development in a statement, the National Organising Secretary, Mr Theophilus Shan, said the NWC had scheduled a series of consultations with state chairmen, former governors, ex-ministers, federal lawmakers and national ex-officio members.

    We recalls that PDP governors had earlier endorsed the Nov. 16 Ibadan convention, which produced Turaki and other members of the NWC for a four-year term.

    However, the party has remained divided as the Minister of the Federal Capital Territory, Mr Nyesom Wike, alongside Mr Mohammed Abdulrahman and Sen. Samuel Anyanwu, continues to insist on serving as acting National Chairman and National Secretary respectively.

    Although the governors facilitated a handover from former National Chairman, Umar Damagum, to Turaki ahead of the expiration of Damagum’s tenure on Dec. 9, the Wike-led bloc announced a 60-day caretaker committee on Sunday, naming Abdulrahman, Anyanwu and others as members.

    Amid the developments, the Turaki-led NWC is expected to meet this week in Abuja with state chairmen, PDP caucuses in the National Assembly, national ex-officio members, and forums of former governors, ex-ministers and past NWC members.

    According to Shan’s meeting schedule, the NWC will on Wednesday, Dec. 10, meet with state chairmen, members of the House of Representatives and national ex-officio members. The committee will also present a Certificate of Return to Dr Oluwole Oluyede, the party’s candidate for the June 20, 2026 Ekiti governorship election.

    Consultations with former PDP governors, ex-ministers and past NWC members are slated for Tuesday, Dec. 16, while senators are expected to meet with the NWC on Wednesday, Dec. 17.

    Shan said the engagements were part of efforts by the newly elected NWC to rebuild the party after the contentious 2025 national convention in Ibadan.

    Another NWC source told NAN that Turaki intended to use the meetings to reassure stakeholders, discourage defections and outline plans to reposition the party.

    “It is a series of meetings with leaders at all levels. We want to highlight the progress made so far, share our plans and appeal to everyone to remain in the PDP. The leadership will also address actions taken against those undermining the party,” the source said.

    Meanwhile, the NWC has set up the Osun State Governorship Appeal Panel to review complaints arising from the party’s primary ahead of the 2026 election. The panel, chaired by Turaki, is expected to sit on Thursday, Dec. 11.

    In a related development, the Minority Leader of the House of Representatives, Mr Kingsley Chinda, and the South-East PDP caucus leader, Mr Idu Igariwey, said they would not be attending Wednesday’s meeting.

    Although Turaki issued the invitation through Shan, Chinda, a loyalist of Wike, told NAN that he had not received any formal notice.

    “I saw no invitation,” he said.

    Igariwey also said he had not received an invitation as of Monday.

    However, the PDP caucus leader in the House of Representatives, Mr Fred Agbedi, confirmed his attendance. Agbedi, who remained in the party despite the recent defection of Bayelsa State Governor Douye Diri to the APC, said members were already preparing for the meeting.

    Also confirming his participation, Mr Mansur Soro (PDP–Darazo/Ganjuwa), said the invitation was “open to all members”.

    The party remains polarised, with Bauchi State Governor, Sen. Bala Mohammed, leading one faction, while Wike heads the other. The crisis escalated following the controversial Ibadan convention, which was upheld by an order of an Oyo State High Court but stalled twice by the Federal High Court, Abuja, over alleged violations of the PDP constitution.

    As both camps continue to claim leadership, the PDP national secretariat remains sealed by the police to prevent a breakdown of law and order.

    Efforts by to get comments from the Deputy National Secretary, Mr Richard Ihediwa, and the National Organising Secretary, Mr Theophilus Shan, were unsuccessful as both officials were unavailable at press time.

  • NUPRC Denies Withholding N283.3bn Exploration Funds From NNPC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has released a total of 185.12 million dollars (about N268.4 billion) and N14.9 billion to the Nigerian National Petroleum Company Limited (NNPC Ltd) from the Frontier Exploration Fund.

    The Head of Media and Strategic Communication of the Commission, Mr Eniola Akinkuotu, disclosed this in a statement on Monday while reacting to reports suggesting that the Commission had withheld the statutory fund from NNPC Ltd.

    Akinkuotu said the clarification became necessary to counter recent publications alleging that NUPRC was blocking payments under the Frontier Exploration Fund. He explained that the disbursements had been made as approved and in line with regulatory procedures.

    He noted that the Frontier Exploration Fund was created under the Petroleum Industry Act (PIA), which mandates that 30 per cent of NNPC Ltd’s profit oil and gas be allocated to the exploration of frontier basins across the country. The fund has been the focus of public scrutiny due to concerns about transparency and utilisation.

    According to Akinkuotu, the Fund is not domiciled with the Commission but held in an account managed by the Central Bank of Nigeria (CBN). He said NUPRC’s role is limited to assessing the work programme submitted by NNPC Ltd and approving releases based on certified activities and awarded contracts.

    “The Nigerian Upstream Petroleum Regulatory Commission has dismissed reports that it is withholding the Frontier Exploration Fund from the Nigerian National Petroleum Company. 185,123,333 dollars had been approved along with N14.9 billion,” the statement read.

    He said payments could not be approved where contracts had not been awarded or where activities had not been certified, noting that the Commission adheres strictly to due process in handling the fund.

    Akinkuotu also said the Commission contracted PwC to evaluate NNPC Ltd’s claims as part of efforts to ensure transparency before granting final approvals for disbursement.

    “So far, there is no outstanding sum. The NUPRC approved the final release on Nov. 27, 2025, amounting to 140 million dollars. Earlier, N14.9 billion and 45 million dollars were released,” he stated.

    He advised stakeholders and members of the public to seek clarification from NNPC Ltd rather than rely on unverified claims from persons he described as intent on tarnishing the image of the Commission.

    The Commission further clarified that the Frontier Exploration Fund is strictly for the use of NNPC Ltd, adding that it would be inappropriate for any operator or individual to make unfounded statements suggesting otherwise.

    Akinkuotu also recalled that the Minister of State for Petroleum, Sen. Heineken Lokpobiri, had earlier refuted reports alleging that the Ministry was investigating NUPRC over the handling of the fund.

    “The minister had issued a rebuttal on the so-called investigation on Nov. 17, 2025. It amounts to mischief for anyone to reference a statement which has been denied by the purported author,” the statement added.

  • NNPC Ltd Received $185m, N14.9bn From Frontier Exploration Fund – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has released a total of $185 million and N14.9 billion to the Nigerian National Petroleum Company Limited (NNPC Ltd) from the Frontier Exploration Fund.

    The Head of Media and Strategic Communication at the Commission, Mr Eniola Akinkuotu, disclosed this in a statement on Monday while reacting to reports alleging that the regulator had withheld disbursements meant for NNPC Ltd.

    Akinkuotu said the clarification became necessary to counter claims suggesting that the Commission was refusing to release statutory allocations under the Frontier Exploration Fund. According to him, all approved funds have been duly disbursed to NNPC Ltd in line with established procedures.

    He explained that the Frontier Exploration Fund, created under the Petroleum Industry Act (PIA), is designed to support oil and gas exploration in frontier basins across the country. The fund is financed through 30 per cent of NNPC Ltd’s profit oil and gas.

    Akinkuotu added that contrary to reports, the fund is not domiciled with the Commission but managed in an account controlled by the Central Bank of Nigeria (CBN). He said NUPRC’s role is limited to evaluating the work programme submitted by NNPC Ltd and approving releases based on verified activities.

    “The Nigerian Upstream Petroleum Regulatory Commission has dismissed reports that it is withholding the Frontier Exploration Fund from the Nigerian National Petroleum Company. A total of $185,123,333 and N14.9 billion had been approved,” the statement read.

    He said the Commission only approves funds for certified activities and contracts awarded, noting that payments cannot be made in the absence of verifiable contractual obligations.

    Akinkuotu further stated that, in line with its transparency policy, the Commission engaged PricewaterhouseCoopers (PwC) to evaluate NNPC Ltd’s submissions prior to the final release of funds.

    “So far, there is no outstanding sum. The NUPRC approved the final release on Nov. 27, 2025, amounting to $140 million. Earlier, N14.9 billion and $45 million were released,” he said.

    He advised individuals seeking further clarification to contact NNPC Ltd rather than rely on unverified information aimed at maligning the Commission.

    Akinkuotu emphasised that the Frontier Exploration Fund is strictly for NNPC Ltd and said it would be improper for any operator to make unfounded claims regarding its disbursement.

    He also recalled that the Minister of State for Petroleum, Sen. Heineken Lokpobiri, had earlier dismissed reports alleging an investigation into the Commission’s handling of the fund.

    “The honourable minister had issued a rebuttal on the so-called investigation on Nov. 17, 2025. It amounts to mischief for anyone to reference a statement already denied by the purported author,” he said.

  • NAFDAC Warns Against Importation, Sale Of Prohibited Food Items

    The National Agency for Food and Drug Administration and Control (NAFDAC) has warned against the importation, sale and distribution of certain regulated food items that have been placed on the Federal Government’s Customs Prohibition List for safety and other considerations.

    The warning is contained in a statement issued on Tuesday in Abuja by the Director-General of the Agency, Prof. Mojisola Adeyeye.

    NAFDAC listed the affected products as pasta, noodles, sugar and tomato paste, noting that they are not permitted for importation into the country.

    It said the agency had observed an increasing trend of smuggling, sale and distribution of these prohibited items in markets nationwide.

    According to the statement, “the affected products are expressly listed on the Federal Government’s Customs Prohibition List and are therefore not allowed into the country.”

    It added that the circulation of such items contravenes national trade regulations, undermines the integrity of the country’s food control system and poses significant risks to public health, as they have not undergone NAFDAC’s mandatory safety evaluation and quality assurance checks.

    The agency directed all importers, supermarket operators, open market traders and other stakeholders in the food supply chain to immediately cease the importation, sale and distribution of products listed on the Customs Prohibition List.

    It also advised stakeholders to ensure full compliance with NAFDAC regulations and to immediately notify their supply chain partners to discontinue all transactions involving the prohibited items.

    “Failure to comply will attract strict enforcement actions, including seizure and destruction of prohibited goods, suspension or revocation of operational licences and prosecution in accordance with relevant laws,” the statement warned.

    To strengthen enforcement, NAFDAC called for collaboration with other federal agencies including the Nigeria Customs Service, Nigeria Immigration Service, Nigeria Shippers Council, Standards Organisation of Nigeria, Nigerian Maritime Administration and Safety Agency, Nigerian Ports Authority and the Nigeria Agricultural Quarantine Service.

    The agency reiterated its commitment to safeguarding public health and ensuring strict adherence to food safety and regulatory standards.

    It urged stakeholders to cooperate fully with its enforcement efforts and directed the public to contact its Post-Marketing Surveillance Division through the official communication channels for further enquiries.

  • Nigeria Will Be Lending To Nations By 2026 – Remi Tinubu

    The First Lady, Senator Oluremi Tinubu, on Sunday predicted that Nigeria would attain a level of economic prosperity that would enable it to lend to other countries by 2026.
    Tinubu made the remark in Ile-Ife, Osun State, shortly after she was conferred with the chieftaincy title of Yeye Asiwaju Gbogbo Ile Oodua during an event marking the 10th coronation anniversary of the Ooni of Ife, Oba Adeyeye Ogunwusi.
    The ceremony drew a wide range of dignitaries, including former President Olusegun Obasanjo; wife of the Vice President, Nana Shettima; former First Lady, Patience Jonathan; and the governors of Osun, Lagos and Ogun States – Ademola Adeleke, Babajide Sanwo-Olu and Dapo Abiodun, respectively.
    Others present included a former Speaker of the House of Representatives, Dimeji Bankole; former Ogun State Governor, Ibikunle Amosun; Lagos State Deputy Governor, Dr Obafemi Hamzat; Speaker of the Lagos State House of Assembly, Mudashiru Obasa; Osun State Deputy Governor, Kola Adewusi; and former Osun First Lady, Kafayat Oyetola.
    Prominent traditional rulers also attended, among them the Sultan of Sokoto, Alhaji Sa’ad Abubakar; the Olu of Warri, Ogiame Atuwatse III; the Orangun of Ila, Oba Abdulwahab Oyedotun; and the Soun of Ogbomoso, Oba Ghandi Olaoye.
    Tinubu expressed gratitude to the Ooni for the honour bestowed on her, saying the country was entering a period of renewed hope.
    “Nigeria’s joy has come. Those wondering how we want to do it, we will show them how things are being done,” she said.
    “By 2026, Nigeria will be in prosperity; we will be lending to other nations.”
    She said the administration of President Bola Tinubu would deliver results that would surprise many, adding that the declaration was significant because it was made “at the source of the Yoruba race.”
    Earlier, the Ooni of Ife praised the First Lady for what he described as consistent support for the throne since his ascension. He also acknowledged the longstanding contributions of former President Obasanjo to the palace.
    In his goodwill message, the Sultan of Sokoto prayed for a long and prosperous reign for the Ooni and sought divine guidance for Nigeria’s leaders.
    Governor Adeleke, in his address, commended the Ooni for transforming the image of traditional leadership and repositioning Ile-Ife as a major cultural hub.
    He noted that the Osun government had embarked on infrastructure upgrades in the ancient city, including the completion of 14 roads and the near completion of the first flyover in Ile-Ife.
    Adeleke said the state would continue to collaborate with the Ooni in actualising the vision of building Ile-Ife as a global cultural capital for the Yoruba people.

  • Boko Haram Insurgency Lasting longer Than Civil War Troubling — Obasanjo

    Former President Olusegun Obasanjo has expressed concern that the Boko Haram insurgency has persisted for nearly 15 years, far exceeding the duration of Nigeria’s 30-month civil war.
    Obasanjo made the observation on Sunday while speaking virtually as a guest on the Toyin Falola Interviews, which featured Bishop Matthew Hassan Kukah and former Deputy Governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu.
    He said the protracted nature of the insurgency should worry Nigerians, adding that the country’s security forces remain largely trained for conventional combat rather than the asymmetric warfare posed by insurgents, bandits and criminal networks.
    “Civil war lasted 30 months. This fight against insurgency and criminals has lasted almost 15 years. That should worry anybody,” he said.
    Obasanjo recalled visiting Maiduguri in 2011 to assess the origins of Boko Haram, noting that early leaders of the group expressed readiness for dialogue. He said the government failed to take advantage of the window.
    “I reported back that they were ready to talk, that they agreed to a 21-day ceasefire for the government to reach out. Government never reached out,” he said.
    The former president said Nigeria must urgently improve its intelligence capacity, provide modern technology to security agencies and expose military personnel to specialised foreign training.
    He cited Colombia as an example of a country that addressed insurgency through specialised training and international collaboration.
    “There is no shame in that. It is a specialised kind of training. What the military is trained for is conventional war, but the people we are dealing with now are fleeting targets or live among the people,” he said.
    Obasanjo also faulted an alleged dependence on financial allocations as a solution to security and development challenges. He stated that many crises have deeper roots that require coordinated political and socio-economic interventions.
    He narrated how a Niger Delta militant once told him he embraced militancy after graduating with a chemical engineering degree but failing to secure employment.
    “That was what led me to start quarterly stakeholder meetings. But instead of sustaining that, they started sharing money. That does not solve any problem,” he said.
    Commenting on security intelligence, Obasanjo expressed concern about internal sabotage and trust deficits with international partners.
    He recalled that during his administration, movements of military helicopters in the Niger Delta were sometimes leaked by moles within the security system.
    The former president said that although Nigeria can seek international support, the government must treat security strictly as a national priority.
    “The government should see security as a national issue. And if we are incapable, let us ask the global community. The global community has an interest in our peaceful existence,” he said.
    Obasanjo also addressed political coordination, noting that it remains the prerogative of the incumbent president to summon the Council of State or consult past leaders.
    He further discussed the decades-long crisis in the Democratic Republic of Congo (DRC), saying the conflict is rooted largely in internal issues dating back to pre-independence years.
    Obasanjo, who served in the UN peacekeeping mission in Congo in 1960 and later as UN Special Envoy to Eastern Congo and the Great Lakes Region, said many of the issues he encountered as a young officer remained unresolved decades later.
    He cited citizenship disputes involving Rwandans living in Congo for generations, post-genocide tensions, and weaknesses in Congo’s military structure as major contributors to instability.
    “Congo has no military organisation that can defend its territorial integrity and protect its people. Leaders before the current one built presidential guards, not a national military,” he said.
    According to him, Congo’s strategic minerals have drawn heavy geopolitical interest from major powers, including the United States, China, France and the United Arab Emirates.
    He warned that while foreign interests may influence the crisis, only Congolese leaders can provide a lasting solution.
    “It is up to the government of Congo to know that the world is interested in what it has and how it would manage it,” he added.
    Obasanjo said he had, at various times, urged leaders of Rwanda and Congo to take ownership of the peace process, noting that both countries acknowledged the role of African mediators.
    He concluded that Congo’s vast size, resource wealth and internal divisions require a more decentralised governance model and realistic reforms.

  • Nigeria’s World Bank Debt To Hit $9.65bn

    Nigeria’s total loans from the World Bank between 2023 and 2025 are projected to reach 9.65 billion dollars by the end of 2025, according to data analysed from the Bank’s website.
    The amount covers lending from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). When grants are included, total support rises to about 9.77 billion dollars.
    The loans reflect a steady buildup of commitments across digital infrastructure, social protection, power, education and health programmes.
    The reports that the Federal Government is expected to secure an additional 500 million dollars on Dec. 19 under the Fostering Inclusive Finance for MSMEs project, to be implemented through the Development Bank of Nigeria.
    In 2023, the administration of President Bola Tinubu obtained 2.7 billion dollars in World Bank financing across four major projects, including renewable energy access, girls’ education, women’s economic empowerment and power sector recovery.
    Loan approvals increased sharply in 2024, rising to 4.25 billion dollars, driven by two policy-based operations and three separate 500 million-dollar IDA investment packages. Total support, including a 70 million-dollar grant for primary healthcare, amounted to 4.32 billion dollars.
    For 2025, World Bank data shows 2.695 billion dollars in loans under processing, alongside 52.18 million dollars in grants. Major allocations include 500 million dollars each for broadband expansion, basic education and livelihood support for vulnerable households.
    Other proposed financing targets health security, nutrition, internally displaced persons, and procurement capacity. A 400 million-dollar IBRD component is planned for the MSME finance programme, with an additional 100 million dollars from IDA.
    Across the three years, IDA loans total about 7.30 billion dollars, while IBRD accounts for approximately 2.35 billion dollars. Grants rise from zero in 2023 to 70.01 million dollars in 2024 and 52.18 million dollars in 2025.
    We recalls that Nigeria’s IDA debt stock rose to 18.5 billion dollars in the third quarter of 2025, making the country Africa’s largest IDA borrower and the third largest globally.

    Economists who spoke with expressed mixed views on the rising loan portfolio.
    While some experts said concessional loans can support long-term growth if well utilised, others warned that increased borrowing amid reported revenue gains could worsen fiscal pressures.
    They noted that high debt servicing costs were reducing funds available for public services and investment, while exchange rate risks made foreign borrowing more challenging.
    Meanwhile, data from the Debt Management Office indicates that Nigeria’s external debt stood at 46.98 billion dollars as of June 30, 2025. Of this, the World Bank accounted for 19.39 billion dollars, representing 41.3 per cent of total external debt.
    The Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, recently urged the World Bank to support the Renewed Hope Ward Development Programme, describing the partnership as central to the government’s efforts to build a 1-trillion-dollar economy by 2030.
    The World Bank Country Director, Mr Matthew Verghis, said Nigeria had taken bold reforms capable of resetting its development trajectory, and pledged continued support.
    The Bank explained that loan disbursements are released in instalments based on project milestones, noting that new projects must meet agreed conditions before funds are accessed.

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