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Senate Expresses Worries Over $7.9Bn Foreign Loans

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David Mark, Senate President
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The Senate has warned state governments against reckless borrowing, saying it would not accede to every request.

Senator Ehigie Uzamere, chairman, Senate Committee on Local and Foreign Loans who gave the warning at the continuation of the defence of a loan of $7.9 billion by the Federal and state governments, said states which were expecting blanket approval of requests for loans should forget it, because his committee would not grant their requests.

Uzamere, stated that approved loans must not be seen by benefiting states as free money that should end up in private pockets.

“It is sad the way we are going in this country,” he said, adding that states must take loans seriously.

He noted that the committee would monitor the use of the loans through oversight to ensure that they are not diverted.

Uzamere, urged the states that have not submitted their template for loans to do so because the Federal Government was awaiting approval of the loans.

He insisted that requests by states that fail to submit their template would not be considered.

Senator Gbenga Obadara, a member of the committee, also warned that there was no reason for any state to “over borrow.”

He said: “These loans, you are not the ones to repay it. This is how our nation became a debtor nation and we battled to free the nation from huge foreign debts.

“From what I see, the debt profile will continue to pile up. I don’t want my children to become slave of any nation because of loans. We know the consequences of these loans. You may mean well, but you must be careful how you borrow.

“Some states have asked for $50 million loan, others asked for more. You begin to wonder how much is the GDP to warrant the huge loans.”

Mr Bernard Okumagba, Delta State Commissioner for Finance, who defended his state’s request, noted that there was a huge funding gap in the state’s drive to successfully implement some projects.

Okumagba said the terms for the credit are maturity spanning 40 years, a grace period of 10 years, service charge of 0.7 per cent and commitment charge of 0.5 per cent.

He said the projects for which the loan are sought included youth empowerment and access to socio-economic services, public financial management reforms and project coordination and implementation support.


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Court Declares Keystone Bank Staff Wanted over Alleged N35m Fraud

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A Federal High Court, Lagos has declared Mrs. Ebele Okpala, a female banker with Keystone Bank, wanted over alleged N35 million fraud.

Court Declares Keystone Bank Staff Wanted over Alleged N35m Fraud

Apart from declaring the banker who is said to be outside the country wanted, Justice deinde Dipeolu, trial judge in the matter, also directed the Department of State Security (DSS), Nigerian Immigration Service (NIS), and Nigeria Customs Service (NCS), to arrest her upon arriving the country.

Justice Dipeolu made the above order while granting a motion ex-parte marked FHC/L/530C/2024, filed and moved by M. Bello, on behalf of the Nigeria Police.

In the motion, Ebele Okpala and one Perpetual Onyeto, also a banker were listed as first and second defendants/respondents in the suit, while DSS, NIS and NCS were listed as cited parties/respondents.

In urging the court to make the above orders, Bello, informed the court that the application was pursuant to several sections of the Administration of Criminal Justice Act (ACJA) 2015, and under the court’s inherent jurisdiction. Adding that the application was supported by an affidavit deposed to by Inspector Tope Akerele of the Force Criminal Investigation Department (FCID), Special Fraud Unit (SFU), Ikoyi, Lagos.

In granting the application, Justice Dipeolu held, “After considering the application and the supporting affidavit, the request had merit and granted all the reliefs sought by the prosecution.

“That an order is hereby made that the 1st defendant/despondent be declared wanted and placed on the wanted list of the Nigeria Police Special Fraud Unit, 13, Milverton Road, Ikoyi, Lagos until she is arrested.

“That an order is hereby made compelling cited parties/respondents to assist in apprehending 1st defendant/Respondent once he enters into the country.

“That an order is hereby made permitting the Publication of the name of the 1st defendant/despondent in the National Daily Newspapers and Social Media handles by the Nigeria Police Special Fraud Unity Ikoyi, Lagos for the purpose of fulfilling the requirement of the Order 1 above.”

Recall that both the wanted banker and the second defendant/respondent were previously arraigned before the court by the operatives of the police Special Fraud Unit, PSFU.

Specifically, the two bankers were arraigned before the court sometimes in September 2024, on alleged conspir­acy, theft, money laundering, fraudulent lift of lien placed on bank’s customer’s account and obtaining the sum of N35 million by false presence.

 


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UK Deepens Digital Partnership with Nigeria to Drive Inclusive Growth

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The United Kingdom has announced expanded collaboration with Nigeria to accelerate the country’s digital economy through a package of initiatives delivered under the UK’s Digital Access Programme.

At the heart of this partnership is the State-level Policy, Regulatory and Institutional Reforms Enabling Digital Transformation (SPRIRET) initiative which was announced during the June visit of the UK Minister for Africa and International Development, Baroness Chapman MP.

The SPRIRET Project is designed to support reforms across five states: Abia, Edo, Ekiti, Enugu and Niger, and to reduce regulatory barriers and unlock greater investment and innovation in broadband, digital services, and emerging technologies. The UK will look to support more states in future iterations of the project.

SPRIRET will work with Initiative for Digital Inclusion to strengthen state-level policies, governance systems, digital infrastructure and human capacity to improve service delivery, increase transparency, and expand citizen access and participation in the digital economy.

The project is designed as a scalable model for nationwide replication, enabling states to generate new economic opportunities and support inclusive digital transformation at scale.

British Deputy High Commissioner, Mr. Jonny Baxter said: “The UK is proud to partner with Nigeria to drive an inclusive and innovative digital economy. Through initiatives like SPRIRET, we are supporting practical reforms that will unlock investment, strengthen institutions, and expand digital access, creating opportunities for businesses and citizens alike. This partnership reflects our shared ambition to harness technology for sustainable growth.”

Prof. Chidiebere Onyia, Secretary to the State Government, Enugu State said: “We wish to express our sincere appreciation to the British Deputy High Commission and the Foreign, Commonwealth and Development Office (FCDO) for the sustained interest in Enugu State’s development agenda and for the initiative in co-designing the SPRIRET project in response to the State’s priorities.

“We are satisfied that the SPRIRET project addresses a critical gap at the level of policy, regulatory, and institutional reform – areas that are foundational to giving lasting direction and effectiveness to all current and future digital investments in the State. We look forward to a productive and impactful partnership that will significantly advance Enugu State’s vision of an inclusive digital economy.”

Alongside SPRIRET, the UK is supporting targeted interventions to strengthen Nigeria’s wider digital ecosystem. A Technical Assistance Facility will enhance the performance of the Universal Service Provision Fund, improving its systems, institutional capacity and delivery to ensure more inclusive and sustainable digital access outcomes.

In parallel, the Safeguarding Trust, Digital Rights, Inclusion and Data Ethics (STRIDE Nigeria) Project will promote responsible data governance by raising awareness of rights under the Nigeria Data Protection Act, strengthening institutional compliance, and building a pipeline of skilled professionals.

Through a nationwide “Own Your Data” campaign and targeted fellowships, the initiative will equip citizens and businesses with the knowledge and tools to participate safely and confidently in the digital economy.

Together, these initiatives demonstrate the UK’s continued commitment to supporting Nigeria in building a more inclusive, secure and dynamic digital economy – unlocking growth, strengthening institutions, and empowering citizens.


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Army Says Terrorists Now Recruiting, Raising Funds Online

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Nigerian Army has warned that terrorist and criminal groups were increasingly exploiting cyberspace to recruit members, raise funds, coordinate attacks and spread propaganda, describing the trend as a growing threat to Nigeria’s national security.

Army Says Terrorists Now Recruiting, Raising Funds Online

Lt.-Gen. Waidi Shaibu, chief of Army Staff (COAS), raised the alarm on Tuesday at the 2026 Nigerian Army Cyber Warfare School Seminar in Abuja.

Represented by Maj.-Gen. Jeremiah Manjang, deputy chief of Special Services and Programmes, the Army Chief said cyberspace has evolved into a strategic battlefield where both state and non-state actors operate with unprecedented speed, making security threats more complex and difficult to counter.

He noted that hostile actors no longer require physical presence to disrupt critical infrastructure, compromise sensitive information, manipulate public opinion or undermine national security through anonymous cyber attacks.

According to him, terrorism, insurgency, banditry, kidnapping, separatist agitations, organised crime, misinformation and disinformation are increasingly being enabled, coordinated and amplified through digital platforms and cyber networks.

“The reality is that terrorist and criminal groups now exploit cyberspace for recruitment, propaganda, fundraising, intelligence gathering, attack coordination and concealment of illicit financial transactions. This demands a proactive and coordinated national response,” he said.

Shaibu said the changing nature of security threats had compelled the Nigerian Army to strengthen its cyber capabilities to effectively address complex, asymmetric and technology-driven challenges.

He called for stronger cyber intelligence capabilities driven by artificial intelligence (AI), machine learning and advanced data analytics to improve early warning systems, threat detection and predictive security analysis.

The COAS also advocated deeper collaboration among government institutions, the military, law enforcement agencies, academia and the private sector, stressing that cybersecurity can no longer be handled by a single institution.

He emphasised the need for sustained investment in indigenous cyber capabilities, research, technological innovation and human capacity development to protect Nigeria’s digital sovereignty and enhance national resilience against emerging threats.

Shaibu further stated that integrating cyber capabilities into conventional military operations would strengthen surveillance, intelligence gathering, geospatial analysis, command-and-control systems, situational awareness and overall operational effectiveness.

Earlier, Brig.-Gen. Jacob Bawa, commandant of the Nigerian Army Cyber Warfare School, said the seminar was organised to deepen cybersecurity awareness, strengthen cyber resilience and promote collaboration among security stakeholders.

Bawa noted that Nigeria’s increasing reliance on digital technologies has exposed critical infrastructure, including telecommunications, power systems, financial institutions and government databases, to cybercriminals, terrorists and hostile state actors.

He said the Cyber Warfare School was established as a centre of excellence for cyber warfare training, education and research.

According to him, participants at the seminar would examine cyber resilience, threat intelligence, incident response, cyber warfare and emerging technologies with a view to developing practical recommendations for strengthening Nigeria’s cybersecurity architecture.

Also speaking, Abdulhakeem Ajijola, cybersecurity expert, warned that national security now depends significantly on the protection of digital systems, noting that artificial intelligence is transforming military operations, command structures and the protection of critical infrastructure.

Ajijola urged Nigeria to develop sovereign cyber capabilities, warning that excessive dependence on foreign-controlled software, platforms and artificial intelligence systems could undermine national resilience, operational continuity and independent decision-making during periods of crisis.

He stressed that while technology should be deployed to strengthen national sovereignty, responsibility for operational decisions must remain with human commanders.


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