馃嚦馃嚞NigeriaWest Africa
President Tinubu seeks Senate confirmation for AMCON board chairman
via Punch Nigeria1 min read
President Bola Tinubu has requested the Senate to confirm Lamido Yuguda Abubakar as the Chairman of the Board of the Asset Management Corporation of Nigeria AMCON. Senate President Godswill Akpabio read Tinubu's letter during a plenary session on Wednesday. The President stated that the nomination aligns with Section 101a of the AMCON Establishment Act, 2019, as amended, and is necessary due to the departure of the previous chairman. Tinubu expressed hope for an expeditious confirmation. Following the presentation, Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions, tasking them to screen Abubakar and submit their report within two weeks. AMCON was established in 2010 by the Federal Government to stabilize Nigeria's financial system by acquiring non-performing loans and recovering debts, with board appointments requiring Senate confirmation.
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This summary was AI-generated from a story originally published by Punch Nigeria.
The Federal Government has cautioned that drug abuse and illicit trafficking pose a direct threat to Nigeria's national development, emphasizing that combating this issue is a shared responsibility. George Akume, Secretary to the Government of the Federation, represented by Ibrahim Kana, Permanent Secretary, General Services Office, delivered this warning at the National Drug Use Summit in Abuja. The summit, themed "Addressing Illicit Drug Use and Trafficking: A Call to National Action," highlighted that drug use and trafficking have become significant global threats to public health, national security, social cohesion, and economic development, with Nigeria experiencing rising cases of mental illness, broken families, interrupted education, unemployment, and crime. Akume identified young Nigerians as particularly vulnerable, stating that their exposure to addiction directly threatens the country's future. He also noted the growing links between drug trafficking and other organized crimes like violent extremism, banditry, kidnapping, and money laundering. Akume stressed that substance use disorders are complex health and social challenges requiring a "whole-of-government approach, a whole-of-society approach," involving families, communities, schools, healthcare providers, security agencies, the private sector, faith-based organizations, and civil society. He called for enhanced intelligence sharing, inter-agency collaboration, improved research, and resilient communities. Br
Must ReadThe House of Representatives on Wednesday rejected a proposal to invite President Bola Tinubu to explain the alleged suspension of funding for zonal intervention, or constituency projects. This occurred during a plenary session marked by debate over delays in the implementation of the 2026 budget. The proposal was made by Benedict Etanabene, who cited a circular from the Office of the Accountant-General of the Federation announcing the suspension of funding for these projects pending new verification requirements. Etanabene urged the House to use its oversight powers to summon President Tinubu and his economic team to provide explanations. The suggestion led to heated exchanges among lawmakers. Alex Ikwechegh, who sponsored the main motion, argued that the credibility of the appropriation process relies on the timely release and utilization of budgeted funds. He noted that many agencies received little or no capital releases in the 2025 fiscal year and criticized a June 29, 2026 Treasury circular that introduced new bureaucratic hurdles for constituency project payments. Speaker Tajudeen Abbas ruled the proposal to invite the President out of order, stating it was not part of the substantive motion and inconsistent with parliamentary procedure. The House subsequently adopted resolutions urging the Federal Ministry of Finance, Budget Office of the Federation, Office of the Accountant-General of the Federation, and the Central Bank of Nigeria to prioritize timely fund releases
The Deputy Speaker of the House of Representatives, Benjamin Kalu, disclosed how he was deceived into meeting with Adeniyi Adeyemi, the self-proclaimed Director-General of the fictitious Presidential Foreign Intervention Promotion Council PFIPC. Kalu stated that his office received a letter on May 2, 2025, bearing the Presidency's insignia and an address at the Federal Secretariat Complex, along with a government website, pfipc.gov.ng. Despite some initial doubts, his team verified the address, leading him to approve a meeting. The visitors, who claimed they wanted to discuss constitutional amendments and foreign investment, instead focused on taking photos. Kalu emphasized that this incident highlights the need for stricter verification of organizations claiming government affiliation and urged lawmakers to support a thorough investigation into the alleged council's operations. The PFIPC has caused nationwide controversy after being included in the 2026 Appropriation Act, despite the Presidency disowning its existence and President Bola Tinubu ordering an investigation into its insertion into the budget.