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The African Democratic Congress (ADC) has dismissed the reported suspension of former Vice President, Atiku Abubakar and former Secretary to the Government of the Federation, Babachir Lawal, by a faction of the party in Adamawa State.

The party described the move as invalid, insisting that those behind it lack the authority to take such action.

The National Publicity Secretary of the party, Bolaji Abdullahi, said the announcement carries no weight within the party.

According to Abdullahi, “No, no, no. There’s nothing to it. It doesn’t make sense.

“Those saying it (they suspended Atiku and Babachir Lawal), don’t have the power to do that. No, they don’t have the power to do that. They are just jesters.”

The development followed a press conference by a factional chairman in Adamawa State, Raji Zumo, who announced the suspension of Atiku, Lawal and the party’s transition committee chairman, Sadiq Ibrahim.

Abdullahi said, “Let it be clearly stated, no individual, regardless of his status or influence, is above the law or the constitution of the African Democratic Congress, as long as he is a card-carrying member of the party.

“Those individuals are suspended for their roles in fostering disunity, creating parallel structures, undermining lawful authority, and disregarding a subsisting court order.”

The ADC has been grappling with internal disputes over its leadership structure.

Separate factions led by Nafiu Bala Gombe and Kingsley Ogga, both reportedly expelled during the party’s national convention, are laying claim to the position of national chairman.

The Independent National Electoral Commission (INEC) had earlier withdrawn recognition of the party’s leadership structures amid the ongoing crisis.

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By Gloria Ikibah

The House of Representatives has intensified its investigation into the troubled Anchor Borrowers Programme, turning its spotlight on insurance providers linked to the scheme amid concerns over weak coverage and alleged fund mismanagement.

At a hearing convened by the House Committee on Nutrition and Food Security, lawmakers began scrutinising the role of the Nigerian Agricultural Insurance Corporation alongside private insurers in a programme valued at over N1.12 trillion.

The session forms part of a broader inquiry into how funds earmarked for agricultural support were handled, including allegations of diversion by government agencies and questions surrounding disbursement by participating financial institutions.

Representing the Managing Director of the Nigerian Agricultural Insurance Corporation, Dayo Babaronti told the committee that the agency insured just over 200,000 farmers, covering about N109 billion under the scheme.

He revealed that the Central Bank deviated from the original framework, which designated the corporation as the sole insurer, by bringing in additional firms, including Veritas Kapital Insurance and Leadway Insurance. Neither company was present at the hearing.

According to him, the corporation’s involvement amounted to only a small fraction of the overall programme, leaving significant gaps in coverage.

He also outlined the corporation’s limited role in other agricultural financing initiatives, including support for smallholder farmers and specific crop programmes, where insurance backing fell far short of funding allocations. In some cases, he noted, the corporation was excluded entirely despite policy provisions.

Tge Committee Chairman, Rep. Chike Okafor, signalled that further hearings would follow, noting that the panel had received numerous complaints from farmers and industry groups regarding inadequate insurance protection.

He explained that the committee will recall the agency for additional questioning, particularly as its submission arrived late, leaving little time for proper review.

Rep. Okafor maintained that the investigation is aimed at uncovering the root causes behind the programme’s shortcomings and ensuring accountability across all institutions involved.

He pointed to early findings suggesting that key stakeholders, especially farmers and commodity associations, were largely excluded from the design and implementation of the intervention, a factor believed to have contributed to its underperformance.

He stressed the committee’s determination to get to the bottom of the issues, stating, “The reason why we are here is because the programmes did not succeed 100%. If they had succeeded 100%, we will not be here.”

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By Gloria Ikibah

The House of Representatives Public Accounts Committee has approved sweeping financial reliefs and a long-term debt restructuring plan for three electricity distribution companies, in a move aimed at stabilising Nigeria’s troubled power sector.

The decision grants Kano, Jos and Ikeja DisCos a 10-year window to restructure liabilities running into hundreds of billions of naira, following mounting concerns over the sector’s financial sustainability.

At the heart of the intervention is a combined debt burden of over N248 billion, made up of more than N120 billion in historical obligations and about N128 billion in accumulated interest spanning a decade.

The resolution followed the adoption of a technical subcommittee report linked to findings from the Auditor-General, which highlighted rising debts across eleven distribution companies and growing pressure on the electricity market.

Chairman of the Technical subcommittee, Rep, Mark Chidi Obetta, said the move is part of broader legislative efforts to restore stability and address legacy financial challenges within the industry. He noted that the liabilities of the affected companies form a significant portion of the sector’s overall debt profile.

According to the report, total indebtedness across the eleven DisCos climbed from roughly N1 trillion at the end of 2024 to about N1.3 trillion by September 2025, driven largely by accumulating interest and unpaid obligations.

The committee said its investigation sought to verify these figures, establish the true extent of the debts and understand why the companies have struggled to meet payment commitments.

It confirmed that the liabilities had surged due to continued accruals, while also identifying disputes over interest charges as a major sticking point, particularly among the affected DisCos.

In response, the Nigerian Electricity Regulatory Commission NERC,, directed that interest should not be applied to outstanding invoices between 2015 and 2020, while allowing such charges from 2021 onwards. It also instructed that interest linked to delays involving a financial intermediary be excluded.

As part of the restructuring framework, the report stated, “Based on appearance, submissions and request, the Committee established that Jos and Kano Electricity Distribution Companies remain significantly indebted to NBET. The interest component and accrued debt during government receivership period form a substantial part of Kano Disco’s liabilities.”

It further recommended that, “NBET and NERC should allow Kano Electricity Distribution company (KEDCO), Jos Electricity Distribution Company and Ikeja Electricity Distribution company, with significant legacy obligations to restructure and repay their historical debts totaling N120,061,898,737… over an extended period of not more than 10 years.”

The report also proposed that certain liabilities incurred during periods of government intervention be transferred to a designated liability management body, while calling for a waiver of all accrued interest within the specified period.

Explaining the rationale, it added that the current market structure limits the ability of DisCos to recover costs, noting that revenue collection arrangements prioritise settlement of market obligations before operational expenses are released.

The committee stressed the need for discipline going forward, stating that, “All DisCos should ensure strict compliance with their current market obligations going forward to prevent further accumulation of liabilities.”

Chairman of the committee, Bamidele Salam, cautioned that without decisive restructuring and stronger regulatory oversight, the long-term viability of Nigeria’s electricity distribution system could remain under serious threat.