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N500b DBN Fund: Senate threatens to arrest Emefiele, others
• Godwin Emefiele, CBN Governor
Senate Adhoc Committee on disbursement of N500 billion development fund across the six geo-political zones by the Development Bank of Nigeria, (DBN) has threatened to issue a warrant of arrest on the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele and heads of affected financial institutions for failing to appear before the committee.
Aside from the CBN Governor, the Committee headed by Sani Musa, Senator representing (APC Niger East) also threatened to arrest the Managing Director of Bank of Industry, (BoI) Olukayode Pitan; Managing Director of Nigeria incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL), Aliyu Abdulhameed and the Director General of Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN) Olawale Fasanya.
Heads of the five agencies incurred the wrath of the Committee with their conspicuous absence at investigative hearing carried out on Wednesday on the alleged uneven disbursement of N500 billion development fund.
Irked by their absence at the session, the Chairman of the Committee, Musa said out of the eight relevant government agencies needed for the investigation, five were invited to appear before the committee at the Wednesday session.
“Out of these five, only two came while the remaining three which are the CBN, BOI and NIRSAL, were conspicuously absent without any letter from them explaining why.
“Assignment before this committee is a very important one, requiring cooperation and compliance from all those linked to issues at hand.
“MD of DBN and his counterpart from the Bank of Agriculture are here for required clarifications and explanations, making it mandatory for CBN Governor, MD of BoI and DG of NISRAL to appear unfailingly in subsequent sessions or risk being coerced through issuance of warrant of arrest,” he said.
He added that Ministers of Finance, Budget and National Planning, Zainab Ahmed; Trade and Investment, Adeniyi Adebayo, and Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, will appear before the Committee on Thursday this week for required submissions on roles played in the alleged uneven disbursement of funds.
But in his submission before the Committee, the Managing Director of DBN, Tony Okpanachi denied deliberate lopsidedness in the disbursement of the fund.
He said laid down criteria set by the Central Bank of Nigeria were used for fund disbursement.
“Our lending has criteria and they are the same with those set by the Central Bank of Nigeria,” he said.
He explained that for a business to qualify for the DBN loan, it must have less than 250 employees and must not have done a turnover of more than N1.1 billion.
“We do a risk assessment of the participating financial institutions (PFIs) before they begin to lend to businesses. We don’t want to give out money and the money fritters away. So we track the end users of the loans yearly,” he said.
He added that the location of the registered MSMEs in Nigeria also explained the reason for the loan’s disbursement.
Statistically, he explained to the Committee members that out of the registered MSMEs across Nigeria, Lagos alone has 25%, South West 23%, South South 18%, South East 10%, North Central 10%, North West 9%, FCT 4% and North East 2%.
He however informed the Committee that DBN has asked participating financial institutions to build the capacity of small-scale businesses, and train them on how to structure their businesses for them to be able to access the loans.
“For DBN, it’s a continuous process to get more businesses on board,” he stressed.
Business Day
Also joined as contemnor is the Medical Director, Federal Neuropsychiatric Hospital, Enugu, Dr Unaogu Ngozika.
The duo are said to have disobeyed an order of court which ordered the immediate reinstatement of Prof Monday Igwe as the Medical Director.
A judgement of the National Industrial Court, Abuja Division, had nullified the appointment of Dr. Unaogu as the Medical Director of the Hospital and ordered the reinstatement of Prof. Monday Igwe as the Medical Director following the declaration that the earlier termination of his appointment is null and void.
Recall that Justice E. D. Subilim of the National Industrial Court, Abuja, had on 11th December 2025, delivered a judgment in which he ordered the reinstatement of Prof. Monday Igwe to office as the Medical Director after he declared the earlier termination of his appointment as null and void and also nullified the later appointment of Dr. Unaogu Ngozi.
The court found that the termination of Prof. Monday Igwe’s appointment did not follow laid down disciplinary procedure.
It also held that the appointment of Dr. Unaogu Ngozi during the pendency of the suit in which she was a party rendered it a nullity.
However, several months after the judgement was served on the Defendants, they have refused to comply with the judgment orders.
Lawyer to the plaintiff, Mr. Michael O. Okorie, Esq, had told the court that Ngozi Unaogu “has continued to perform the functions of office, including awarding contracts, bank transactions, staff appointments and other official functions despite her appointment having been declared a nullity with the legal effect that contractors and bankers dealing with her are doing such at their own peril, especially as the said judgment has not been stayed by any order for stay of execution.”
Okorie has consequently filed and served Form 48-Notice of consequence of disobedience of court orders-against the Minister of state, Federal Ministry of Health and Social Welfare and Unaogu, the Medical Director.
According to the lawyer, “the Minister of State is the supervising minister who issues/conveys/signs appointment letters to the Medical Director of the Hospital on behalf of the President.
“It is time for the Minister of State to reassess his legal team at the Ministry so that they do not end up misleading him into running foul of the law which he has sworn to protect as public servant.”
Meanwhile, court documents obtained by our correspondent show that the contempt proceeding was initiated pursuant to Order IX, Rule 13(1-3) of the Judgment (Enforcement) Rules, Section 72 of the Sheriff and Civil Process Act, 2004, Order 63 of the National Industrial Court of Nigeria (Civil Procedure).
“TAKE NOTICE that unless you obey the directions contained the order of the National Industrial Court, Abuja Division delivered on the 11th December, 2025 which declared null and void the termination of appointment of the Applicant, Prof. Monday Igwe, nullified the appointment of DR. UNAOGU NGOZICHUKWU NNEKA as the MEDICAL DIRECTOR, FEDERAL NEUROPSYCHIATRIC HOSPITAL, ENUGU, ENUGU STATE, and ordered the re-instatement of Prof. Monday Igwe as the Medical Director of the FEDERAL NEUROPSYCHIATRIC HOSPITAL, ENUGU, ENUGU STATE, and also, ordered the payment of the arrears of salary to Prof. Monday Igwe, you will be guilty of contempt of Court and will be liable to be committed to prison. A copy of the said order of court earlier served on you is hereby annexed for your on-the-spot reference.
“This Court has been informed that as at today, Tuesday, 14th April, 2026 that DR. UNAOGU NGOZICHUKWU NNEKA has continued to perform functions of the office of the MEDICAL DIRECTOR, FEDERAL NEUROPSYCHIATRIC HOSPITAL, ENUGU, ENUGU STATE while Prof. Monday Igwe has not been reinstated to office in utter disregards to the subsisting orders of this Honourable Court which execution has not been stayed,” the court notice already served on the alleged contemnors read.
Dr Unaogu and her lawyers could not be reached by The Advocate at the weekend to ascertain why she has not vacated the office of the Medical Director as ordered by the Industrial court in Abuja.
which ordered her to vacate the Medical Director of the hospital has not been
By LUCY OSUIZIGBO-OKECHUKWU
Brig.-Gen. Uche Nnabuihe has raised concern over low enlistment from the South-East, revealing Anambra recorded only 117 applications out of 38,000 nationwide.
Nnabuihe led an Army delegation to sensitise youths in Awka, noting the figure was recorded on April 7, before a nationwide awareness campaign began.
He said the exercise aimed to encourage more youths from Anambra and the South-East to join the 91 Regular Recruits Intake before the May 27 deadline.
“We observed with concern that out of 38,000 applications received nationwide, only 117 came from Anambra as of April 7.
“This sensitisation is to correct that imbalance and encourage our youths to take advantage of opportunities in the Nigerian Army,” he said.
Nnabuihe urged eligible youths to apply, noting the Army offers a structured career path and opportunities for national service.
Lt.-Col. Ogbemudia Osawe said training infrastructure had expanded, with new institutions in Abakaliki and Osogbo to accommodate incoming recruits.
Osawe listed benefits, including career progression, regular pay, continuous military education, specialised training, and exposure to diverse cultures.
He added personnel enjoy welfare packages, free medical care for families, pensions, gratuities, and opportunities for international assignments.
Permanent Secretary, Anambra Ministry of Youths, Ifeatu Emodi, commended the initiative, describing military enlistment as crucial for South-East youths.
Emodi said declining interest among youths stemmed from misconceptions and misinformation about the Army.
Traditional ruler, Igwe Michael Okeke-Uche of Enugwu-Agidi, praised the Army’s welfare structure and urged youths to enlist for better regional representation.
The News Agency of Nigeria (NAN) reports the sensitisation held at the Ministry of Youths in Awka, attracting a cross-section of young people. (NAN)
By IHECHINYERE CHIGEMERI-UWOM
Gov. Alex Otti of Abia has expressed deep shock and sorrow over the death of a U.S.-based Nigerian physician, Dr Uzoma Nwaubani, who was in the state for a medical mission.
Otti, in a condolence message signed by him and issued on Friday in Umuahia, said that he received the news of her passing with shock, describing her as a dedicated and compassionate medical practitioner.
The News Agency of Nigeria (NAN) reports that the State Government in collaboration with the Association of Nigerian Physicians in the Americas (ANPA) organised a five-day free medical outreach that held from April 13 to April 17.
The governor noted that the late Nwaubani was a member of the association and had returned to Nigeria with her husband and daughter, a final-year medical student in the United States, to provide free medical services to residents of Abia.
He said that while participating in the ongoing medical outreach, she developed a medical emergency and was immediately taken to a hospital.
According to him, a team of ANPA and local medical experts worked together to provide urgent critical care in a bid to save her life.
“Despite the gallant efforts of the highly skilled medical team to resuscitate her, she could not make it,” Otti said.
The governor extended his condolences to the family of the deceased, her loved ones, and members of ANPA, adding that the state government was already in communication with her family and the leadership of the association.
He promised that the government would provide the necessary support to the bereaved family and ANPA during the period of mourning.
Otti also commended the family of the late doctor and ANPA for allowing the medical mission to continue in spite of the loss.
He reaffirmed his administration’s commitment to prioritising the health and well-being of residents and visitors to the state.
The governor prayed for the repose of the soul of the deceased and for strength for her family to bear the loss. (NAN)
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