Senate Renews War with Executive Over Magu, Suspends Confirmation of CBN D/Gov Recommends scrapping of overlapping agencies Threatens to publish MDAs withholding audited account Damilola Oyedele in Abuja The lingering dispute between the Senate and the Executive arm over the retention of Mr. Ibrahim Magu as the acting chairman of the Economic and Financial Crimes Commission (EFCC), made a rude re-entry into the front burner of public
discourse yesterday as the Red Chamber threatened to filibuster the confirmation of the nomination of Ms. Aisha Ahmad as a deputy governor of the Central Bank of Nigeria (CBN).
President Muhammadu Buhari had forwarded Ahmad’s nomination to the Senate for confirmation as a replacement for Mrs. Sarah Alade whose tenure expired in February.
But the Senate said yesterday that it would not consider the nomination in line with its July 4, 2017 resolution to suspend all executive confirmation requests until Magu is removed.
Besides, it said, the hostility would persist until the Senate’s power of confirmation of nominees to the boards of commissions established by enabling laws but not listed in the 1999 Constitution as
Crude Oil Price Rises Towards $59 Per Barrel...
amended, is clarified. The Senate made the resolution, following a pronouncement by Vice President Yemi Osinbajo that the Executive did not require the confirmation of the Senate for the appointment Continued on page 8
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Presidency: PDP Behind Maina’s Secret Return… Page 10
Adeosun: FG Not Borrowing but Refinancing Existing Debts Reiterates debt-to-GDP within approved limit Ndubuisi Francis and Udora Orizu in Abuja The Minister of Finance, Mrs. Kemi Adeosun, has explained that the federal government is not desirous of borrowing fresh loans, but seeking to refinance what is known as legacy or inherited debts. Her explanation was sequel to reactions trailing the request by the executive arm of
government to the National Assembly seeking approval of the sum of $5.5 billion to help finance the 2017 Budget. The minister, who featured on an Arise TV programme, the broadcast arm of THISDAY Newspapers, said the APC-led government would channel $3 billion of the $5.5 billion into refinancing inherited Continued on page 8
Buhari Presents 2018 Budget Tuesday as FEC Approves Estimates Today Iyobosa Uwugiaren and Omololu Ogunmade in Abuja President Muhammadu Buhari will present the 2018 Appropriation Bill to the National Assembly on Tuesday, an authoritative presidency source told THISDAY yesterday. The bill, which is expected to be approved today by the
Federal Executive Council (FEC), according to the source, is heading to the legislature early to give legislators ample time to deliberate on and pass in good time for its implementation to begin on January 1, 2018. “Arrangements have been made for President Continued on page 10
APC to Postpone NEC Meeting Again... Page 46
CENTENARY CELEBRATIONS... L-R: MD/CEO, Union Bank of Nigeria Plc, Mr. Emeka Omuwa; Emir of Kano, Alhaji Muhammadu Sanusi II; and Chairman of UBN, Mr. Cyril Odu; during the bank’s centenary anniversary in Lagos…yesterday abiodun ajala