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Just in: Nigeria is still owing us N190bn- IMF insists
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The International Monetary Fund (IMF) announced that Nigeria has completely settled the $3.4 billion in COVID-19 financial assistance received through the Rapid Financing Instrument (RFI).
However, the government still owes approximately $30 million to the multilateral organisation for Special Drawing Rights (SDR) charges.
This $30 million, equivalent to ₦48.2 billion, will be paid annually over four years as fees associated with the loan, totalling over ₦190 billion.
we work towards reducing the totality of our debt exposure especially external debt because from all indications, external debts are much more difficult to manage and service than domestic debts.”
According to him, the focus must be on doubling down on both domestic and external debt.
“So the payment of these components of debt is a welcome development, it will in some sense reduce the burden of outstanding debts and we need to do a lot more of that and going forward, as much as possible, we should reduce our exposures, especially to foreign debts,” Yusuf stressed.
“And utilisation of debts is also essential, debts must be committed to projects that would enhance the productivity in the economy and that should be our priority, and that is speaking largely to our infrastructure stock.
“We should prioritise infrastructure investment in our debt exposure, which is extremely important. I am also hoping that our fiscal consolidation objectives will be improved and better achieved with the current tax reform.
“We expect that the revenue administration would be much more efficient without necessarily putting additional burden on the citizens or businesses. If we are able to do that, then the pressure to incur more debt would reduce. We need to ensure that the cost of domestic debts is as low as it can be as well,” he concluded.
Troops of Operation ENDURING PEACE, OPEP, in collaboration with the Civilian Joint Task Force, CJTF, have arrested a suspected kidnapper linked to the abduction of a resident in Kauru Local Government Area of Kaduna State.
This was contained in a statement posted on X by the Nigerian Army.
The post identified the suspect as Buba Ali, 30, adding that he was arrested at about 12:45 pm on Sunday, August 9, at Binawa village in Kauru Local Government Area.
According to post, the suspect was arrested during a joint operation conducted by troops of Sector 7 OPEP and members of the CJTF.
It said the suspect was reportedly linked to the kidnapping of Alhaji Tasi, who was abducted in the village.
“Following his arrest, Ali was taken into custody and is currently being interrogated by security personnel.
“The ongoing investigation is focused on obtaining information that could lead to the identification and arrest of other members of the suspected kidnapping gang,” the Army said.
Nigerian ambassador to South Africa, Femi Fani-Kayode, has rejected claims by an Islamic scholar, Sheikh Yahaya Jingir, that Nigeria is a Muslim country.
In a viral video, Sheikh Jingir, who was preaching to Muslims at an event, said “if you don’t want to accept a Muslim-Muslim ticket, you should leave Nigeria because it belongs to us”.
The comment has continued to generate backlash online as Christians rejected the claim.
Reacting, Fani-kayode in a statement posted on his official X handle on Sunday night, said the cleric’s remark is unhelpful and untrue.
“Worse of all is the fact that it is highly provocative,” the former aviation minister said.
“Kindly take note that it is a very slippery and dangerous slope to take and is best avoided. Nigeria is NOT a Muslim country and neither is she a Christian country.
“She is a SECULAR and MULTI-RELIGIOUS state comprising BOTH Christians and Muslims in equal numbers and that is our strength,” FFK added.
He further stated that President Bola Tinubu’s Muslim/Muslim ticket for 2027 is gaining acceptance “only because of the calibre, ability, sincerity of purpose, character, utility and electoral strength of our Presidential and Vice Presidential candidates and their ability to deliver and not because they are Muslims”.
“One day we may have a Christian/Christian ticket too because with God all things are possible,” he added.
The Osun State Police Command has confirmed the release of the state Commissioner for Environment and Sanitation, Moyowa Adejoorin, who was arrested in connection with a shooting incident at an All Progressives Congress, APC, rally in Ilesa.
The incident occurred on Saturday and reportedly left four people injured, including a teenager identified as Tobi Ilesanmi.
The command’s spokesperson, DSP Abiodun Ojelabi, said Adejoorin was taken into custody after police officers arrived at the scene, secured the area and began collecting evidence.
According to Ojelabi, the commissioner’s vehicle was stopped at the location, where an Amotekun operative allegedly linked to the shooting was also found.
“Immediately the incident was reported, our personnel moved to the scene and cordoned off the area before some exhibits were recovered, which included expended cartridges and Amotekun personnel caps.
“Also, Mr Adejoorin was arrested at the scene and taken to the command for questioning as part of the investigation process,” Ojelabi said.
The development came amid heightened attention to the incident after a video circulated on social media on Sunday showing Adejoorin leaving the police command.
Confirming the development, Ojelabi told Vanguard that the commissioner had been released on bail but said he was still awaiting clarification on the status of the Amotekun operative who was arrested alongside him.
“It is true that the commissioner has been released on bail today, but I am yet to clear the situation with the Amotekun personnel arrested with him,” he said.
Police investigations into the circumstances surrounding the shooting are ongoing.
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