News
Boko Haram: Reps probe $1bn arms procured by Buhari govt, demand names of dead soldiers
The House of Representatives, on Tuesday, began investigation into the 1 billion dollar appropriated for procurement of arms and equipment in the fight against Boko Haram in the North East Nigeria.
The lawmakers also demanded that the Nigerian Army should, after due consultations with families of soldiers killed in the Nov. 18, insurgents’ attack in Metele village in Borno, release all their names.
The resolution was sequel to a motion by Rep Chukwuka Onyema (PDP-Anambra) at the plenary presided over by Speaker Yakubu Dogara in Abuja, NAN reports.
Moving the motion, Onyema, who is the Deputy Minority Leader, noted that many Nigerian soldiers of the 157 battalion were massacred by Boko Haram insurgents, who now called themselves Islamic State West Africa, in Metele in Borno State.
According to him, the initial figures of the casualty put the death toll at 44 but as more details emerged, it is now confirmed that many more soldiers and officers were killed together with their commanding officer, Lt. Col. Ibrahim Sakaba, while others are still missing.
“The House notes that according to reports, the insurgents carted away large consignment of weapons from the Melete army base which security experts say would embolden them and pose great danger.
“The House observed that while the news of the attack and death toll continued to increase, neither the President nor the Minister of Defense or the army authorities said anything about the report as there was silence for more than five days.
“The House notes that the President and C-In-C finally broke his silence six days after the attack in a statement issued on his behalf,” he said.
The lawmaker said it was unfortunate that in the last one year, no fewer than 600 Nigerian soldiers were killed by insurgents, mostly in Borno State around the fringes of the Lake Chad.
He enumerated instances of attacks launched by Boko Haram against Nigerian soldiers within the year under review.
Onyema, who expressed regret that while the executive continued to insist that the insurgents had been technically defeated, he said they seemed to be waxing stronger on a daily basis.
“The House recalls that twice in three years, the Commander-In-Chief gave directives to service chiefs to permanently relocate to the Theatre Command Centre in Maiduguri until Boko Haram is defeated,” he said.
He said it was disheartening that with the recent happenings in the North, all the successes and gains made against the insurgents had been reversed.
Contributing, Rep Nnenna Ukeje (PDP-Abia) said it was high time Nigeria began to change tactics in order to checkmate the audacity of the insurgents.
She urged the Federal Government to take a cue from Pakistan and review the curriculum of its military.
Rep Aminu Shagari (PDP-Sokoto), who queried how the recently appropriated money was used, described the attack as sad.
Rep Beni Lar (PDP-Plateau) called for the sack of the service chiefs.
On his part, Rep Idris Ease (APC-Plateau) called on the House to treat the matter dispassionately and not to be affected by political sentiment.
Rep Rimande Shawulu (PDP-Taraba) recalled that last year, there were reports that about 6, 000 members of the Islamic State in Syria (ISIS) found their ways to the sub-Saharan Africa.
The Speaker, Mr Dogara, after over an hour deliberation on the motion, described the development as an eye-opener.
He said it was time the leadership in the country began to take responsibility and not to apportion blame.
When the motion was out on a voice vote by the speaker, the lawmakers unanimously adopted it.
An ad hoc committee to investigate all funds appropriated for utilisation by the Armed Forces for the fight against insurgency was set up by the House.
The committee was also charged to look into the operational lapses that led to the killings of the soldiers.
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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