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Senate Queries CBN, Accountant-General over Failure to Account for ₦596bn Ecological Fund
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The Central Bank of Nigeria (CBN) and the Accountant General of the Federation on Thursday when they appeared before the Senate Committee on Public Accounts could not explain how ₦596 billion ecological fund was spent from 1999 to 2015.
While the accountant-general said the fund was domiciled in the apex bank, and that the money has been invested, the CBN pleaded for more time to submit records of the funds.
By asking for the records, the committee had acted upon the report by the Auditor-General of Federation (AuGF), Anthony Ayine, that between 1999 and 2015, a total of ₦596 billion was transferred from the treasury into the ecological fund account without proper accounting.
Mr Ayine had said, contrary to the provision of Section 5(4) of the Revenue Allocation Act which requires that an agency be established to manage the ecological fund, no agency had been established to manage it.
Rather, he added, the National Committee on Ecological Problems (NCEP) is the body responsible for handling ecological problems in the country.
NCEP is domiciled under the Office of the Secretary to the Government of the Federation (SGF) and has its Chairman as the Minister for Environment, Housing and Urban Development.
Thereafter, the Senate committee chairman, Matthew Urhoghide, summoned the Secretary General of the Federation (SGF), Boss Mustapha, while also asking the CBN to submit the statement of ecological fund account to the committee.
“The Central Bank should come and furnish us with the statement of account of the Ecological Fund. The SGF should come and brief us on the statement of account of the Ecological Fund,” Mr Urhoghide said.
Other queries
Meanwhile, the Custom Service and the Federal Inland Revenue Service (FIRS) were also indicted for contravening Pension Reform Act, 2014, which requires them to remit 5 per cent of their contributory pension to the National Pension Commission (PenCom).
The accountant-general, Ahmed Idris, in response, said: “The noncompliance of the remittance of 5 per cent of the contributory pension (by the custom service, for instance) was as a result of insufficient funds. Also, I wish to state, as funding improves, the service will comply accordingly.”
“We always engage the agencies themselves on the basis of issues raised by the auditor-general of the federation. This is the response from the Custom service as documented. We don’t want to start changing their responses.
“It’s like we are answering their own questions. Nigeria Customs, with due respect, stands to explain their responses. We are here on their behalf and we are reading their responses. Their response is a very dishonest one. If you are capable of paying salaries, why should it be difficult for you to pay 5 per cent.”
Displeased about the response of the Customs Service, Chairman Urhoghide said the committee would not take noncompliance to an act of parliament by agencies. However, due to the absence of representatives from the Custom Service, the matter was stood down.
“It’s unfortunate that the Nigerian Customs would tell us this. This is a contributory pension for their own retirees and they say they don’t have the money to contribute,” a dissatisfied Mr Urhoghide said.
“In fact the two of them — Custom Service and FIRS — get 7 per cent and 4 per cent for their own operations and they say they don’t have the money.
“Pay 5 per cent so that you can secure the future of your entire workers and you say you don’t have the money? It’s totally untrue. When other little organizations are making their contributions, you are the ones saying you don’t have the money.”
Premium Times
Nigeria’s under-17 women’s national team, the Flamingos, etched their names into football history Saturday, defeating former champions Japan 2–1 at the Mohammed VI Football Complex to lift the 2026 FIFA U17 Women’s World Cup.
With the victory, Nigeria becomes the first African nation to win the tournament since its inception in 2008.
Led by head coach Akeem Busari, the Flamingos entered the showpiece having already broken ground as the first African side to reach the final, surpassing their previous best finish of a bronze medal in 2022.
After a fiercely contested opening half-hour against a disciplined Japanese side making their fourth final appearance, Nigeria broke the deadlock in the 39th minute.
Midfielder Awawu Bashiru—who had starred with a brace in the semi-final against Brazil—unleashed a long-range strike that slipped past Japanese goalkeeper Kou Kadowaki to give the Flamingos a 1–0 lead at the break.
Nigeria wasted no time doubling their advantage after the restart. Just two minutes into the second half, forward Oluebube Umejiaku latched onto a through ball and lifted a composed finish over the onrushing Kadowaki in the 47th minute to make it 2–0.
Desperate to reclaim a title they last won in 2014, Japan responded with a triple substitution and mounted heavy late pressure.
The Young Nadeshiko eventually pulled a goal back in the 80th minute through setting up a tense finish in front of a crowd that included FIFA President Gianni Infantino and CAF President Patrice Motsepe.
Despite Japan’s late surge, Nigeria’s backline—marshalled by goalkeeper Sylvia Ijirigho and defender Omowunmi Sunday—held firm through stoppage time to seal an unforgettable triumph for Nigerian and African women’s football.
ThisDay
The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has pledged to restore fuel subsidy, improve security and create employment if elected president in 2027.
Atiku made the pledge on Thursday during a campaign rally in Kebbi State, where he called on voters to support the ADC, describing it as the only party committed to addressing the three issues.
“The people of Kebbi State, let me ask you a few questions. Do you want the return of subsidy? Do you want security? Do you want employment? Therefore you have no option other than the ADC. ADC is the only political party that is committed to these three objectives and more to bring about prosperity, unity and peace to the people of our country,” he said.
The former Vice President and his running mate also criticised some projects being presented as achievements of the President Bola Tinubu administration, describing them as legacies of the late President Muhammadu Buhari.
Supporters of the ADC gathered at the party’s secretariat in Birnin Kebbi to welcome Atiku and other party chieftains ahead of the rally.
Speaking at the event, the Director-General of the ADC Presidential Campaign Council, Senator Austin Akobundu, commended party faithful for what he described as their resistance to intimidation by the state government.
Akobundu said the 2027 general elections would be a referendum between suffering Nigerians and the Federal Government under President Tinubu.
The ADC National Chairman, in his remarks, described the party as a moving train that no amount of intimidation could stop.
He called on the people of Kebbi State to vote for Atiku as president, Abubakar Malami as governor and other ADC candidates in the 2027 general elections.
The rally ended with the ADC National Chairman formally presenting the party’s flag to Malami as the party’s governorship candidate for the 2027 election.
The campaign in Kebbi came hours after a Federal High Court in Abuja nullified the leadership of the Senator David Mark-led ADC and voided the actions taken by the party’s executives, including the process that produced Atiku as its presidential candidate.
Justice Peter Lifu delivered the judgment in a suit filed by Nafiu Bala Gombe, a former National Deputy Chairman of the party, who challenged the emergence of the Mark-led leadership.
Atiku rejected the ruling, describing it as an attempt to weaken his political support and frustrate his campaign. He said he would challenge the judgment at the Court of Appeal.
The ADC also rejected the decision, accusing the ruling All Progressives Congress (APC) of attempting to cripple the opposition and vowing to challenge the judgment through all available judicial processes.
The Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has condemned Thursday’s court judgment purporting to remove Senator David Mark’s leadership of the party, describing it as a calculated attempt to weaken the ADC and frustrate his candidacy.
In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku said the timing of the judgment was telling. It came barely a day after a mammoth crowd turned out in Sokoto to welcome him and attend the launch of the ADC campaign.
“The people of Sokoto came out in their thousands because they are hungry for change and believe in our promise to make life affordable again. What we witnessed in Sokoto is only the beginning. The people of Kebbi will have their say, and so will Nigerians across the country as our campaign moves forward.
“My roots are in Northern Nigeria, but my candidacy belongs to all Nigerians. There is a difference between being from the North and being a candidate only for the North. Hunger and hardship do not respect regional boundaries. Nigerians across the country are suffering under this government, and they deserve a leader with a credible plan to make life affordable again.
“The timing of this judgment is no coincidence. It is part of a strategy to weaken my support in the North and frustrate a campaign whose message is resonating across the country. But the ruling party’s greatest miscalculation is to assume that my support ends in the North. What we saw in Sokoto, what we will see in Kebbi and across the country, is the strength of a national movement.”
Atiku said the judgment also raises serious legal concerns.
“Justice Musa Liman of the same Federal High Court had already dismissed the challenge to the David Mark-led leadership in Suit No. FHC/ABJ/CS/1637/2025. The court upheld the defendants’ objections on jurisdiction, standing and the failure to exhaust internal party remedies, and resolved the substantive issues in their favour. Why, after that judgment, was another case filed to reopen the same dispute? This is a calculated attempt to circumvent a subsisting judgment. We will challenge this judicial manoeuvre at the Court of Appeal.”
Atiku urged ADC supporters to remain calm and law-abiding and not to let the judgment weaken the momentum generated in Sokoto. The campaign train is already in Kebbi and will continue across the country.
“Our journey to rescue Nigeria from the hardship imposed by the APC government is a long one. Our Affordable Life campaign will continue because Nigerians deserve relief from this crushing cost-of-living crisis. We urge our supporters to remain resolute, take our message from house to house and door to door, and stay peaceful and focused. There is no shaking.”
