馃嚦馃嚞NigeriaWest Africa
House of Representatives establishes committee to investigate debts owed to Federal Government
via Punch Nigeria3 min read
The House of Representatives has formed an ad-hoc committee to investigate outstanding debts owed to the Federal Government by state actors, private entities, and Ministries, Departments and Agencies. Oluwole Oke, representing Obokun/Oriade Federal Constituency, will chair the committee. The committee's mandate includes identifying debtors, assessing current recovery efforts, and recommending strategies for fund recovery. This initiative follows a motion highlighting Nigeria's increasing debt burden, which reached N153.29tn by September 30, 2025, with debt servicing consuming 47.85% of government revenue in the first nine months of 2025. Lawmakers expressed concern that insufficient attention has been given to recovering funds owed to the government, exacerbating fiscal challenges. The investigation aims to address the revenue crisis and the unlawful retention of public funds, which negatively impacts the economy amid rising debt obligations and infrastructure deficits. The committee is expected to submit its report within four weeks.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Babatunde Fashola, a former Governor of Lagos State, has called on Nigerians to support refugees and prevent displacement, emphasizing the growing burden of internally displaced persons. Speaking at an event organized by the African Refugees Foundation for World Refugee Day, Fashola stressed the importance of preventing circumstances that lead to displacement. He highlighted patience and peaceful conflict resolution as critical in averting crises and noted that natural disasters also contribute to displacement, underscoring the need for environmental responsibility. Fashola shared a personal experience, stating that his perception of refugees changed after meeting displaced professionals, which made him realize the chain reactions of choosing conflict over peace. Olujimi Olusola, the Chief Executive Officer of the African Refugees Foundation, announced plans to distribute food to approximately 10,000 refugees, internally displaced persons, and vulnerable individuals in Lagos and other states. The initiative, which started in Surulere, also included free health checks and counseling. Olusola added that the foundation aims to provide economic skills to beneficiaries, subject to resource availability, and raise awareness about the plight of displaced persons. Lai Oriowo of Odu鈥檃 Investment Company, representing Chairman Bimbo Ashiru, stated that supporting refugees is a service to humanity and that preventing conflict is crucial for peaceful coexistence.
The Nigerian Communications Commission NCC and the Corporate Affairs Commission CAC have jointly announced new compliance requirements for telecommunications companies in Nigeria. The directive mandates that telecom companies obtain a Letter of No Objection from the NCC before transferring shares amounting to 10 percent or more of their total share capital. This requirement, based on the Nigerian Communications Act NCA 2003, takes immediate effect for NCC-licensed companies proposing changes in ownership or control, including multiple share transfers that collectively exceed the 10 percent threshold. Mrs. Nnenna Ukoha, NCC Director of Public Affairs, stated that the CAC will ensure evidence of NCC approval before registering shareholding changes. The policy aims to prevent anti-competitive practices, preserve a fair and competitive market structure, strengthen oversight of ownership changes, and improve transparency, investor confidence, and regulatory certainty, ultimately safeguarding the long-term stability of Nigeria鈥檚 communications sector. Both agencies are committed to promoting a transparent business environment and fair market practices to support the industry's sustainable growth.
Must ReadNigeria experienced 279 kidnappings and 842 deaths across 156 violent incidents in May 2026, according to new data from Nextier鈥檚 Nigeria Violent Conflicts Database. These figures represent a rise in insecurity compared to May 2025, with violent incidents increasing by 51.5 percent, casualties by 90.1 percent, and kidnap victims by 19.7 percent. Amid concerns that peacebuilding efforts are not yielding measurable results, development practitioner Jamilu Musa and Dr. Chukwuma Okoli, a Political Science lecturer at Nnamdi Azikiwe University, Awka, warned in a Nextier policy article that weak impact assessment frameworks undermine intervention effectiveness. They noted that measuring peacebuilding outcomes is challenging due to intangible indicators like trust and social cohesion, and shrinking international funding partly due to global crises and shifting economic priorities. Musa and Okoli proposed four key indicators for peacebuilding assessments: conflict dynamics, social cohesion, governance and inclusion, and resilience/conflict prevention. They identified challenges such as attribution bias, short donor funding cycles, and poor baseline data. To address these, they recommended modern evaluation tools, institutionalizing peace measurement frameworks, and stronger collaboration among stakeholders to ensure interventions make communities safer, more inclusive, and more resilient.