General News
Presidency Wades into CBN, NNPC Feud over Missing N8Tr

President Goodluck Jonathan on Wednesday waded into the bickering between the Nigerian National Petroleum Corporation (NNPC) and the Central Bank of Nigeria over the missing $49.8 billion oil revenue.
The CBN had accused the NNPC of shortchanging the nation’s treasury by as much as 76 per cent of total crude oil revenues between January 2012 and July 2013.
A Presidency source told Daily Independent that heads of the two agencies have been warned to henceforth compare notes before going public on issues.
“The Group Managing Director of the NNPC has been queried by the Presidency, through the minister of Petroleum resources, to explain how the alleged money got missing while the CBN governor was also cautioned to first compare notes with the NNPC before coming up with such a letter.
“Both the CBN and NNPC are agencies of the government and you continue to wonder if this bickering, which is unnecessary in the first place, is not intended to discredit this administration,” the source said.
“Owing to what this issue has created, they have been ordered to henceforth compare notes before going into the public with such information,” he added.
Sanusi said in a letter dated September 25 to President Goodluck Jonathan that the NNPC earned $65.3 billion from crude oil sales between January 2012 and July 2013 but only remitted 24 percent of this to the federation account and $49.8 billion was still outstanding.
“I am constrained to formally write your Excellency, documenting serious concerns of the CBN on the continued failure of the NNPC to repatriate significant proportions of the proceeds of crude oil shipments it made in gross violation of the law,” the letter read.
General Manager, Media Relations Department of the NNPC, Dr. Omar Farouk Ibrahim who refuted the claims however maintained that the figure given by the CBN governor “does not represent the correct picture of crude oil lifting for the period.”
Ibrahim said in a statement that the corporation found it necessary to clarified based on the CBN’s misunderstanding of the workings of the oil and gas industry and the modality for remitting crude oil sales revenue into the Federation Account.
“For the avoidance of doubt, it needs to be stated that the figure of 594.024 million barrels of crude oil given by the CBN as the total crude oil lifting for the period of January 2012 to July 2013 does not represent the correct picture of crude oil lifting for the period.
“From our records, the correct figure is 618.55 million barrels. This shows that the CBN understated the actual crude lifting by 4.13 per cent,” Dr. Ibrahim stated.
He explained that revenue from crude oil liftings are in various categories, namely Equity Crude; Petroleum Profit Tax, Royalty, Third Party Financing and the Nigerian Petroleum Development Company, NPDC. Revenues from each of these categories are statutorily collected by different agencies of the government.
General News
Kuda Unlocks Instant Online Accounts for NGOs and Religious Bodies

Kuda has updated its business banking services to allow NGOs and incorporated trustees to open and manage business accounts entirely online. The move means religious organisations, charities, and other registered organisations no longer have to navigate the long wait and paperwork traditionally associated with setting up a business account.

Nosa Oyegun,
On the Kuda Business app, organisations registered with Nigeria’s Corporate Affairs Commission (CAC) can choose the NGO option during signup, submit their CAC documents, and provide trustee details. Once verified, accounts are activated within minutes, a significant reduction from the days or weeks it can take under traditional business banking processes.
For many NGOs and religious institutions, handling donations, grants, and operational expenses has long been slowed by manual systems and branch-based requirements.
The Kuda Business update is expected to make financial management faster and more transparent, allowing organisations to focus on their mission instead of battling administrative bottlenecks.
Nigeria is home to thousands of registered NGOs and religious organisations, with Lagos State alone accounting for over 10,000 churches and mosques as of the last count in 2021. Across the country, incorporated trustees play a critical role in education, healthcare, humanitarian response and community development. Despite their scale and economic relevance, access to modern digital banking tools has remained limited for many of these institutions.
Nosa Oyegun, SVP Business Banking at Kuda, said the update is proof of Kuda’s focus on removing structural barriers that slow Nigerian organisations down. “NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” he said.
“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work.”
With Kuda Business, NGOs and religious organisations can manage incoming donations and grants, make payments, track transactions in real time, generate professional account statements for audits and reporting, and grant controlled access to trustees, treasurers and administrators, all on a single app.
Kuda designed the account signup process to meet regulatory requirements while significantly reducing manual reviews and customer support workload. Automations shorten notoriously long business signup timelines while improving information accuracy and user experience.
As reforms promoting cashless payments and digital financial services take hold in Nigeria, NGOs and religious organisations are under increasing pressure from donors, partners and regulators to operate with greater financial transparency and efficiency.
The new Kuda Business update is therefore timely, offering a dedicated digital account specifically designed for this segment, unlike many traditional banks and fintech platforms that treat incorporated trustees as special cases requiring comparatively slower manual intervention.
General News
Catholic Bishops Urge FG to Give Tax Laws Human Face

Catholic Bishops of the Ibadan Ecclesiastical Province has called on the Federal Government to implement the ongoing tax reforms with equity, openness and empathy, cautioning that policies devoid of human consideration could further compound the suffering of millions of Nigerians.

The appeal was contained in a communiqué released after the bishops’ first provincial meeting for 2026, which took place at the Jubilee Conference Centre in Ibadan, Oyo State.
The document was jointly signed by Most Rev. Gabriel Abegunrin, chairman of the Ibadan Ecclesiastical Province, and Most Rev. John Oyejola, secretary.
Recall that the tax reforms were introduced by the administration of President Bola Tinubu and assented to on June 26, 2025.
They officially came into effect on January 1, 2026, and have continued to attract diverse reactions across the country.
In the communiqué, titled “Sustaining Hope and Strengthening Our Good Efforts,” the bishops acknowledged the government’s desire to overhaul Nigeria’s tax system but expressed concern that its implementation had sparked widespread unease and debate, especially among the poor and vulnerable.
“The reforms should be anchored on fairness, transparency and accountability, urging the government to apply them with compassion.
“The bishops also advised that vulnerable citizens should be given sufficient time to adapt to the new tax regime before strict enforcement measures are introduced.”
The clerics warned that economic policies pursued without sensitivity could widen inequality and heighten social unrest, noting that taxation should not become an added burden for Nigerians already grappling with inflation, unemployment, and rising costs of living.
The bishops encouraged Nigerians to remain hopeful while backing prayers with responsible citizenship, diligence and respect for justice and the rule of law.
“As shepherds of God’s people, we urge Nigerians to reject cynicism and despair. Prayer must be accompanied by good works. This is the only country we have,” the communiqué concluded.
General News
Taraba Adopts Electronic Case Management System
Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.
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The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.
Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.
Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.
He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.
Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.
He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.
Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.
He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.
The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.
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