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Reps Approve Tinubu’s $2.34bn Loan Request, Back EFCC Power to Seize Assets Without Conviction
By: Fabian Apechihin
The House of Representatives on Wednesday approved President Bola Tinubu’s request to secure $2.347 billion from the international capital market to part-finance the 2025 budget deficit and refinance maturing Eurobonds.
The decision followed the adoption of a report presented by Abubakar Hassan Nalaraba, chairman of the House Committee on Aids, Loans, and Debt Management, during plenary presided over by Speaker Tajudeen Abbas.
According to the committee’s report, the borrowing plan includes $1.23 billion to help fund the 2025 budget deficit and $1.12 billion to refinance Nigeria’s Eurobond maturing in November 2025. The approval authorises the Federal Government to implement the borrowing component of the 2025 Appropriation Act—equivalent to ₦1.84 trillion at the budget exchange rate of ₦1,500 to a dollar.
Lawmakers also granted permission for the government to access the funds through Eurobond issuance, loan syndication, bridge financing, or direct borrowing from international financial institutions.
In addition, the House endorsed Tinubu’s plan to issue Nigeria’s first-ever Sovereign Sukuk—up to $500 million—in the international capital market, with or without a credit guarantee.
EFCC Gets Boost to Seize Assets Without Conviction
The House also passed for second reading a bill seeking to amend the Money Laundering (Prevention and Prohibition) Act, 2022, to empower the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to confiscate assets linked to unexplained wealth even without criminal conviction.
The proposed legislation, sponsored by Yusuf Adamu Gagdi, aims to strengthen Nigeria’s anti-corruption framework through civil forfeiture, allowing the recovery of assets whose lawful sources cannot be proven.
Leading debate on the bill, Gagdi described corruption and illicit financial flows as one of Nigeria’s “most defining governance challenges.”
He lamented that, under the current law, anti-graft agencies face high evidential hurdles that often delay the recovery of stolen assets.
“This bill introduces a civil recovery mechanism that allows non-conviction-based forfeiture of unexplained wealth,” Gagdi explained.
“The current Act requires criminal prosecution before assets can be seized, which makes recovery slow and ineffective.”
If passed into law, the bill will mark a major shift in Nigeria’s anti-corruption strategy, giving agencies like the EFCC greater powers to trace and recover illicit assets without waiting for lengthy court convictions.
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National Trail Mourns Pioneer Editor, Abdulazeez Suleiman
Inna Lillahi wa Inna Ilaihir-Raji’un.
The Chairman and Editor-in-Chief of , Hon. Inuwa Bwala, on behalf of the management and staff, has expressed deep sorrow over the death of veteran journalist and pioneer editor of the newspaper, Abdulazeez Suleiman.
Bwala also extended condolences to Suleiman’s family, associates and the Nigerian media industry, describing his passing as a monumental loss at a time his experience, courage and service to the nation were still greatly needed.
Suleiman reportedly died shortly before a scheduled surgery.
A pioneer editor of National Trail Newspaper, Abdulazeez Suleiman was regarded as a thoroughbred journalist with a remarkable talent for breaking exclusive stories and shaping public discourse through responsible journalism.
Throughout his distinguished career, he worked with notable media organisations, including National Trail Newspaper, Daily Trust, Summit and The Road. He earned widespread admiration for fearless reporting, ethical conduct and unwavering commitment to professionalism.
His writings and public interventions consistently reflected deep concern for justice, peace, accountability and national unity.
Beyond journalism, Suleiman was widely respected as a bridge-builder who strongly believed in dialogue, mutual understanding and peaceful coexistence among Nigeria’s diverse peoples. He remained steadfast in his conviction that truth and justice are essential pillars for national progress.
Though his voice has now gone silent, the values and ideals he stood for will continue to inspire generations. His legacy as a principled journalist, advocate and patriot will endure in the hearts of many whose lives he touched through his work and humanity.
The management and staff of National Trail Newspaper prayed Almighty Allah to forgive his shortcomings, grant him Aljannatul Firdaus and comfort his family, friends, colleagues and members of the in this moment of grief.
Rest in peace, Abdulazeez Suleiman. Your service and legacy will not be forgotten.
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JUST IN: After Primary Election Victory, Shehu Sani Visits Parents’ Graves to Offer Prayers and Express Gratitude to God
Following his victory in the party primary election, Senator Shehu Sani visited the graves of his parents to pray and give thanks to Almighty God.
The former senator described the visit as very important to him, noting that his parents played a significant role in his upbringing and in shaping his political life.
Shehu Sani prayed for Allah to forgive his parents and all deceased Muslims, while also reaffirming his commitment to continue serving the people with honesty and integrity after securing victory in the primaries.
The gesture has attracted attention from his supporters and social media users, many of whom praised his act of remembering his parents after a political success.
Uncategorized
National Trail Mourns Pioneer Editor, Abdulazeez Suleiman
Inna Lillahi wa Inna Ilaihir-Raji’un.
The Chairman and Editor-in-Chief of , Hon. Inuwa Bwala, on behalf of the management and staff, has expressed deep sorrow over the death of veteran journalist and pioneer editor of the newspaper, Abdulazeez Suleiman.
Bwala also extended condolences to Suleiman’s family, associates and the Nigerian media industry, describing his passing as a monumental loss at a time his experience, courage and service to the nation were still greatly needed.
Suleiman reportedly died shortly before a scheduled surgery.
A pioneer editor of National Trail Newspaper, Abdulazeez Suleiman was regarded as a thoroughbred journalist with a remarkable talent for breaking exclusive stories and shaping public discourse through responsible journalism.
Throughout his distinguished career, he worked with notable media organisations, including National Trail Newspaper, Daily Trust, Summit and The Road. He earned widespread admiration for fearless reporting, ethical conduct and unwavering commitment to professionalism.
His writings and public interventions consistently reflected deep concern for justice, peace, accountability and national unity.
Beyond journalism, Suleiman was widely respected as a bridge-builder who strongly believed in dialogue, mutual understanding and peaceful coexistence among Nigeria’s diverse peoples. He remained steadfast in his conviction that truth and justice are essential pillars for national progress.
Though his voice has now gone silent, the values and ideals he stood for will continue to inspire generations. His legacy as a principled journalist, advocate and patriot will endure in the hearts of many whose lives he touched through his work and humanity.
The management and staff of National Trail Newspaper prayed Almighty Allah to forgive his shortcomings, grant him Aljannatul Firdaus and comfort his family, friends, colleagues and members of the in this moment of grief.
Rest in peace, Abdulazeez Suleiman. Your service and legacy will not be forgotten.
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