UPDATE : KIDNAPPED GROOM-TO-BE REGAINS FREEDOM IN BENUE . (PHOTO).

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 KIDNAPPED GROOM-TO-BE REGAINS FREEDOM IN BENUE  Tartenger Terdue James, who was abducted days before his traditional marriage, has regained his freedom after his family paid a ransom to his captors in Benue State. James was kidnapped last Tuesday evening while travelling to Cross River State to purchase palm oil for his traditional wedding scheduled for Saturday, December 13, 2025. What was meant to be a joyful pre-wedding trip quickly plunged his family into fear, sleepless nights, and desperate prayers. Relief came in the early hours of Tuesday, December 17, when James reunited with his family at about 4:00 a.m. He reportedly told relatives that his abductors released him around 2:00 a.m. Family sources confirmed that the kidnappers initially demanded ₦3 million but released him after receiving about ₦1.5 million. “We tried our best and sent part of the money they asked for. It was not complete, but they released him,” a family member said. James was dropped off at Kone, Ts...
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STATES FACE ALLOCATION CUTS AS AGENCY DEMANDS N100BN MONTHLY. (PHOTO).

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 States face allocation cuts as agency demands N100bn monthly


 The monthly statutory allocations to state governments from the federation account may decline in the coming months following an official request by the Nigeria Sovereign Investment Authority to boost the nation’s residual funds with the support of N100bn monthly.


The request, which was presented by the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, is aimed at unlocking large-scale investments to drive Nigeria’s economic growth.


He made the request at the March revenue-sharing meeting of the Federation Account Allocation Committee held between April 14 and 15, 2025. Our correspondent obtained a copy of his presentation during the meeting on Friday.


Umar-Sadiq appealed to the committee, which includes state commissioners of finance, to consider and approve the request, with funding proposed to commence from the March FAAC allocation.


The presentation was titled, “Activating Residual Funding for the Nigeria Sovereign Investment Authority – Unlocking Opportunities for Large-Scale Investments to Drive Nigeria’s Economic Growth.”


According to the document, the NSIA is requesting a structured monthly disbursement of N100bn from Residual Funds—revenues in the Federation Account beyond projected hydrocarbon income—to establish a Naira-based investible capital pool.


The move, the authority says, will enhance its capacity to finance critical domestic infrastructure projects.


The MD said, “The funding would position the authority as a leading sovereign wealth fund globally, promoting responsible and strategic investments for Nigeria’s economic development and enhancing its threefold mandate to build a savings base for the country, enhance the development of infrastructure, and provide stabilisation support.”


He explained that residual funds are a legitimate source of funds transferred to the authority, provided that the derivation portion of the revenue allocation formula shall not be included as part of this funding.

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