EMEFIELE: FINANCE MINISTRY UNAWARE OF N124.86BN CBN WITHDRAWAL, WITNESS TELLS COURT. (PHOTO). #PRESS RELEASE

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 Emefiele:  Finance Ministry Unaware of N124.86bn CBN Withdrawal,   Witness Tells Court   A Director in the Federal Ministry of Finance, Ali Mohammed, on Tuesday, October 6, 2026, told the Federal Capital Territory, FCT High Court sitting in Maitama, Abuja, that the Ministry was not aware of the withdrawal of N124.86 billion from the Central Bank of Nigeria, CBN.   Mohammed, who testified as the prosecution witness 10, PW10, in the ongoing trial of the former CBN Governor, Godwin Emefiele, disclosed this while being led in evidence by the prosecution counsel, Abbas Mohammed.   The witness said he appeared before the court because his Ministry received a letter from the investigation team concerning N154 billion said to have been withdrawn by the CBN.   Explaining his position and responsibilities in the Ministry, Mohammed said, “My Lord, the Department of Home Finance is made up of three functions based in three divisions, that is State and Public...
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THE ARBITRARY BILLS MUST BE BROUGHT TO AN END-SAM AMADI.

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            According to sources,Chairman ofNigerian Electricity Regulatory Commission {NERC},Chief Sam Amadi,after the monthly meeting with Distribution and transmission companies said ''The arbitrary bills must be brought to an end.NERC has underlined the importance of following the methology of estimated billing.We have made it very clear that it is the responsibilities of the DISCOs to meter the customers,even though we have time gap to bridge the metering deficit but we want to see real action on that.We have also insisted that in the interim,before everybody is metered,the reckless estimation must stop immediately,and that means three things,one for customers,who have meters but not post paid meters,they have to go and read those meters,and for those who do not have any type of meter at all,NERC,has provided a methology that requires you to look at the amount of power you put on the feeder and that should be bench marked with those who have meters and you see how you do your estimation.What is going on now really in some places is not estimation,it is arbitral because estimation is based on some formula''.

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