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Finance Ministry to Take Over CBN’s Finance Development Function

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By Yusuf Danjuma Yunusa

In a significant policy shift, the Federal Ministry of Finance will now assume responsibility for national development finance activities, a role previously managed by the Central Bank of Nigeria (CBN). This move aims to establish a clearer, more sustainable framework for mobilizing long-term investment into the country’s priority sectors.

The transition fills a strategic gap left nearly two years ago when the CBN halted its direct funding of development programs, which had constrained financing for critical areas like infrastructure, energy, and agriculture.

Unveiling the new strategy, the Minister of State for Finance, Doris Uzoka-Anite, announced that the ministry will issue comprehensive guidelines for a forward-looking development finance model. She positioned Domestic Development Finance Institutions (DFIs)—such as the Bank of Industry and the Nigerian Export-Import Bank—as central pillars in achieving Nigeria’s growth and investment ambitions.

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“Given the scale of Nigeria’s growth targets and the need to mobilize an estimated N246 trillion in patient capital by 2036, the government recognizes DFIs as essential partners,” Uzoka-Anite stated. “They will de-risk priority sectors, bolster investor confidence, and catalyze large-scale private capital.”

DFIs will provide long-term financing, concessional instruments, technical expertise, and risk-sharing to sectors where private investment has lagged despite strong potential. Key focus areas include infrastructure, energy transition, agribusiness, healthcare, climate-resilient industries, and digital public infrastructure.

The minister outlined a dedicated strategy to enhance the capacity and impact of domestic DFIs, among which are: enhanced capitalization, governance reforms, risk-sharing mechanisms, and treasury & policy alignment.

The ministry plans to leverage both domestic and international partnerships to accelerate capital mobilization and project delivery. Uzoka-Anite emphasized aligning all financing with climate resilience, financial inclusion, and sustainability goals in line with global standards.

“Nigeria’s reform momentum, policy clarity, and execution discipline create a credible platform for DFIs to deploy capital at scale with measurable impact,” she added.

This reassignment of responsibility follows the CBN’s strategic withdrawal from direct intervention financing. Shortly after his appointment, Governor Olayemi Cardoso announced the bank would cease funding development programs, refocusing on its core monetary mandates. In December 2023, the CBN formally suspended new loans under all existing intervention schemes while continuing to recover previously disbursed funds.

The Federal Government has affirmed its commitment to maintaining policy consistency and institutional coordination to ensure the success of this new DFI-led approach.

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Yusuf Muhammad Kawu Emerges as APM Candidate for Nassarawa Constituency

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Ambassador Yusuf Muhammad Kawu has officially secured the ticket of the Allied Peoples Movement (APM) to contest for the House of Representatives seat representing Nassarawa Federal Constituency in Kano State.

In a statement released to his supporters and the general public, Kawu expressed gratitude and optimism, describing his emergence as a reflection of his commitment to serve with dedication, integrity, and a clear vision for progress.

“This victory is a testament to my commitment to serve our people with dedication, integrity, and a clear vision for progress,” he said. He further appealed to constituents for their support and votes in the forthcoming election, pledging that their mandate would be his responsibility and their pride.

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Kawu emphasized that his candidacy is driven by a desire to build a stronger and more prosperous Nassarawa Constituency, promising inclusive representation and development-focused leadership.

The Allied Peoples Movement, though relatively smaller compared to Nigeria’s dominant political parties, has been steadily gaining ground in various constituencies, positioning itself as an alternative platform for candidates seeking to challenge the status quo.

As campaigns intensify ahead of the general elections, Kawu’s emergence sets the stage for what could be a competitive race in Nassarawa Constituency.

 

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Veteran Broadcaster And Ex-MD ARTV, Radio Kano Adamu Getso Dies At 75

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Former Managing Director of Abubakar Rimi Television (ARTV) and the Kano State Radio Corporation, Alhaji Adamu Ibrahim Getso, is dead.

The veteran broadcaster reportedly passed away on Saturday at the age of 75 after a prolonged illness.

A native of Getso town in Gwarzo Local Government Area of Kano State, the late media administrator was widely respected for his significant contributions to broadcasting, public communication, and information dissemination in Kano State.

During his distinguished career, Getso served as Managing Director of Abubakar Rimi Television during the first tenure of former Kano State Governor, Senator Rabiu Musa Kwankwaso between 1999 and 2003. He later headed the Kano State Radio Corporation during Kwankwaso’s second tenure as governor.

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The late broadcaster earned widespread recognition through his role in anchoring popular Hausa-language programmes, including Hukuma da Jama’a (Government and the People) and Aiki Sai Mai Shi, which focused on government policies, public affairs, and development programmes.

Colleagues and admirers described him as a dedicated professional who used the media as a platform for public enlightenment and civic engagement.

His contributions to the growth of public broadcasting in Kano and his commitment to promoting government-citizen communication earned him respect across the media industry and beyond.

Alhaji Adamu Ibrahim Getso is survived by his wives, children, grandchildren, and other relatives.

Funeral arrangements are expected to be announced by the family.

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Kidnappers of Ex-army General Release Video, Demand Livestock, Members’ Release

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By Yusuf Danjuma Yunusa

The abductors of retired Major General Rabe Abubakar, former Director of Defence Information, and his wife released a video on Saturday showing the couple in captivity.

The couple were abducted along the Marabar Musawa–Kafinsoli road in Matazu Local Government Area of Katsina State, near Zakin Baure village.

In the four-minute video circulated on social media, the wife of the retired general was seen conveying the abductors’ demands, Daily Trust reports.

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The demands included the release of three of their members identified as Sani, Aminu and Nasiru, as well as the return of livestock allegedly seized from them.

According to her account, two of the detained individuals were arrested in Jikamshi while the third was arrested in Kano.

She also appealed to the Katsina State Government and leaders of five local government areas to facilitate compliance with the demands to secure their release.

The retired general, who spoke briefly in the video, called for efforts to ensure peace, adding that the abductors had expressed interest in dialogue and peaceful coexistence.

Daily Trust also reports that notorious bandit leader Kachallah Muhammad, who operates in parts of Katsina State, had reportedly established communication with the family of the retired general.

As of the time of filing this report, neither the Katsina State Government nor security agencies had issued an official statement on the video.

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