News
JUST IN: Senate Refutes Alleged Padding Of Supplementary Budget
The Senate has said that it is not ready to join issues with some misguided and mischief makers on the recently appropriated N70bn for the National Assembly which they have mischeavously decribed as a “gift” from the Executive arm of government.
The Senate also said that the passage of the Supplementary Appropriation Act was part of the constitutional duties of the Senate to accommodate funding for the Federal Government’s Palliative for the Nigerian public among other National demands.
The reaction of the Senate to the alleged padding of the Supplementary Budget as reported in some sections of the media was contained a statement issued by the Chairman,, Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu and made available to newsmen in Abuja.
According to the statement, “after the passage of the Supplementary Budget to accommodate funding for Federal Government’ Palliative for the Nigerian public, among other urgent national demands, the socio-political space has been inundated with spurious, inaccurate and irreverent misinterpretations.
“Suffice to say that the passage is part of the absolute constitutional duty of the Senate. We would therefore, not wish to join issues with the mischief and misrepresentation that a portion of the just passed Amendment Act that appropriated 70b Naira was a ‘gift’ to the Legislators,” the statement noted.
Senator Adaramodu stressed that “a visit to the Suites, offices and the general structures of the National Assembly complex would reveal a yawning and the need for exigent attention. Many Senators had to bring their chairs, tables and electronics and in many cases, do sundry repairs.
“The so much debated allocation will not be paid to any Legislator. This will be managed by the National Assembly Bureaucracy. It’s pertinent to also note that the National Assembly complex does not house only the Legislators. There are thousands of workers and service providers, whose working environment need a face-lift, and/with necessary tools.
” Since the Assembly Complex is not owned by Legislators who are merely political birds of passage, such allocation cannot be termed by anyone as a palliative to the Legislators.
“The alleged padding of the palliatve Budget by the National Assembly only exists in the minds of those who are all out to discredit the 10th Assembly. There is nothing like padding as being alleged in some misinformed media outfits.
“We wish to urge fellow compatriots to see the National Assembly as partners in the progress of Nigeria.The National Assembly is the soul of democracy and the 10th Senate shall join hands with other arms of government and our forward looking Nigerians to sing new songs of progress, development, safety and all round economic recovery and growth.
News
Boko Haram Denies Ceasefire with FG, Vows Continued Attacks
Boko Haram has strongly denied reports of a ceasefire agreement with the Federal Government and insisted that it will continue its campaign of attacks.
In a statement released by the group, the militants dismissed claims of any truce or negotiated pause in hostilities, describing such reports as false and misleading.
The group reaffirmed its commitment to ongoing operations against government forces and other targets, vowing that its attacks will persist without interruption.
The denial comes against the backdrop of persistent insecurity in the northeast and other affected regions, where the group has maintained a long-standing insurgency.
Security sources note that the latest statement appears aimed at clarifying the group’s position and rejecting any suggestion of dialogue or de-escalation with the authorities.
Military and government officials have not issued an immediate detailed response to the claim, though security operations against the militants remain active. Authorities continue to urge vigilance as the group signals its intention to sustain violence.
News
Police Raise Alarm Over Terrorists and Informants Spying on Schools, Other Targets
Police authorities have raised a serious alarm over intelligence indicating that terrorists and their informants are actively spying on schools and other sensitive targets across the country.
According to security sources, the surveillance activities form part of a broader effort by extremist groups to gather information on soft targets, with educational institutions identified as particularly vulnerable. Officials warn that such reconnaissance could be a precursor to planned attacks and have called for immediate heightened vigilance by school administrators, security personnel, and the general public.
The police statement urges institutions to strengthen access controls, report suspicious individuals or activities promptly, and cooperate fully with security agencies. “We are treating these reports with the utmost seriousness,” a senior police official said, noting that the involvement of local informants makes the threat more difficult to detect.
The military has responded by confirming that it is closely monitoring the situation. In a brief statement, military authorities said relevant formations have been placed on alert and are working in coordination with the police and other security agencies to track and disrupt any potential threats.
Security experts note that schools and public gathering places have increasingly featured in the operational planning of terrorist groups in recent years, making continuous intelligence sharing and community awareness critical to prevention. Authorities continue to appeal for calm while stressing that proactive measures are already underway.
News
Dangote Refinery IPO: SEC Warns Investors, ‘Don’t Pay Into Wrong Hands’
The warning effectively places investors on notice that interest in the IPO should not override basic due diligence, particularly in verifying where subscription applications are submitted and where payments are made.
• Aliko Dangote , flanks by her daughters and capital market regulators, during the gong opening ceremony on the NGX, Monday September 14,2026
The Securities and Exchange Commission (SEC) has warned prospective investors in the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO) against fraudsters and unauthorised platforms seeking to divert subscription funds.
The warning came as the refinery’s was quoted on the Nigerian Exchange Limited (NGX) on Monday, September 14, 2026, marking a major milestone in the company’s planned public offer.
With strong public interest expected around one of Nigeria’s largest capital-market offerings, the SEC urged investors to deal only with officially designated and approved receiving agents, subscription channels and platforms.
“The public is hereby advised to exercise caution and ensure that all applications and payments relating to the IPO are made only through the officially designated and approved receiving agents/subscription channels and platforms,” the Commission said.
The regulator’s alert highlights growing concerns over the possibility of fake investment websites, cloned platforms, fraudulent payment channels and individuals posing as authorised agents to exploit the huge interest generated by the Dangote Refinery offer.
The SEC therefore advised prospective investors to obtain information about the IPO only through the Commission’s official channels, the issuer’s official channels and other channels specifically established and approved for the offer.
The warning effectively places investors on notice that interest in the IPO should not override basic due diligence, particularly in verifying where subscription applications are submitted and where payments are made.
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