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Court Grants Emefiele N20m Bail

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Godwin Emefiele arraigned in court

By Adedapo Adesanya

The Federal High Court sitting in Lagos has granted bail to the suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, in the sum of N20 million with one surety in like sum.

Justice Nicholas Oweibo granted bail to Mr Emefiele after listening to the submissions of his counsel, Mr Joseph Daudu (SAN).

Business Post had reported that the embattled Mr Emefiele was arraigned at the Ikoyi court on two counts of illegal possession of firearm and ammunition on Tuesday following a suit brought by the Department of State Services (DSS).

After more than one month in the net of the agency, the banker was arraigned before the vacation judge, Justice Nicholas Oweibo.

Former President of the Nigerian Bar Association (NBA), Mr Daudu, was the leader in Mr Emefiele’s defence.

The suspended apex bank chief had pleaded not guilty to the charges brought against him.

After the plea, his counsel told the court that his client had been in detention for weeks, informing Justice Oweibo that the application for bail had been filed and served on the prosecution.

This would mark his first appearance since he was seen in a viral video being marched onto a waiting aircraft in June.

Mr Emefiele’s travails had started after President Bola Tinubu criticised the CBN’s handling of the country’s monetary policies at his inauguration on May 29.

He later suspended Mr Emefiele as the apex bank chief on June 9, 2023. And the next day, the DSS confirmed that the embattled, suspended CBN chief was in its custody.

An Abuja High Court on July 13, 2023, subsequently ordered that the secret police charge Mr Emefiele to court within one week or release him.

Following the court order, the DSS said Mr Emefiele had been charged to court in compliance with the court order.

The federal government later filed two counts of illegal possession of firearms and ammunition against Emefiele before the Federal High Court in Lagos on two counts of illegal possession of firearms and ammunition.

The government maintained that the offence is contrary to Section 4 of the Firearms Act, Cap F28 Laws of the Federation 2004, and punishable under Section 27 (1b) of the same Act.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Senate Passes Electoral Act Amendment Bill, Blocks Electronic Transmission of Results

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Godswill akpabio Senate President

By Modupe Gbadeyanka

The Senate on Wednesday passed the bill to amend the Electoral Act of 2022 after delays, which almost pitched the institution against several Nigerians.

Last week, the upper chamber of the National Assembly headed by the Senate President, Mr Godswill Akpabio, set up a panel to look into the matter, with the directive to submit its report yesterday, Tuesday, February 3, 2026.

However, after the report was submitted yesterday, the red chamber of the parliament said it was going to take an action on it on Wednesday.

At the midweek plenary, the Senate eventually passed the Bill for an Act to Repeal the Electoral Act No. 13, 2022 and Enact the Electoral Act, 2025.

However, some critical clauses were rejected, including the proposed amendment to make is mandatory for the Independent National Electoral Commission (INEC) to transmission election results electronically from polling units to the INEC Result Viewing (IReV) portal.

The clause was to strengthen transparency and reduce electoral malpractice through technology-driven result management.

It also rejected a proposed amendment under Clause 47 that would have allowed voters to present electronically-generated voter identification, including a downloadable voter card with a unique QR code, as a valid means of accreditation.

The Senate voted to retain the existing 2022 provisions requiring voters to present their Permanent Voter’s Card (PVC) for accreditation at polling units, and upheld the provision mandating the use of the Bimodal Voter Accreditation System (BVAS) or any other technological device prescribed by the electoral umpire for voter verification and authentication, rather than allowing alternative digital identification methods as proposed in the new bill.

The Senate also reduced the notice of election from 360 days to 180 days, with the timeline for publishing list of candidates by INEC dropped from 150 days to 60 days.

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Amupitan Says 2027 Elections Timetable Ready Despite Electoral Act Delay

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Incorruptible INEC Chairman

By Adedapo Adesanya

The Independent National Electoral Commission (INEC) has completed its timetable and schedule of activities for the 2027 general election, despite pending amendments to the Electoral Act by the National Assembly.

INEC Chairman, Mr Joash Amupitan, disclosed this on Wednesday in Abuja during a consultative meeting with civil society organisations.

Mr Amupitan said the commission had already submitted its recommendations and proposed changes to lawmakers, noting that aspects of the election calendar might still be adjusted depending on when the amended Electoral Act is passed.

He, however, stressed that the electoral umpire must continue preparations using the existing legal framework pending the conclusion of the legislative process and presidential assent to the revised law.

According to him, the commission cannot delay critical preparatory activities given the scale and complexity involved in conducting nationwide elections.

The development highlights INEC’s commitment to early planning for the 2027 polls, even as stakeholders await legislative clarity that could shape parts of the electoral process.

Yesterday, the Senate again failed to conclude deliberations on the proposed amendment to the Electoral Act after several hours in a closed-door executive session. The closed session lasted about five hours.

Lawmakers dissolved into the executive session shortly after plenary commenced, to consider the report of an ad hoc committee set up to harmonise senators’ inputs on the Electoral Act Amendment Bill.

When plenary resumed, the Senate President, Mr Godswill Akpabio, did not disclose details of the discussions on the bill.

Despite repeated executive sessions, the upper chamber has yet to pass the bill, marking the third unsuccessful attempt in two weeks.

The Senate, however, said it will not rush the bill, citing the volume of post-election litigation after the 2023 polls and the need for careful legislative scrutiny.

Last week, the red chamber of the federal parliament constituted a seven-member ad hoc committee after an earlier three-hour executive session to further scrutinise the proposed amendments.

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REA Expects Further $1.1bn Investment for New Mini Power Grids

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Mini Power Grids

By Adedapo Adesanya

The Managing Director of the Rural Electrification Agency, (REA), Mr Abba Aliyu, is poised to attract an estimated $1.1 billion in additional private-sector investment to further achieve the agency’s targets.

He said that the organisation has received a $750 million funding in 2024 through the World Bank funded Distributed Access through Renewable Energy Scale-up (DARES) project.

He added that this capital is specifically intended to act as a springboard to attract an estimated $1.1 billion in additional private-sector investment, with the ultimate goal of providing electricity access to roughly 17.5 million Nigerians through 1,350 new mini grids.

Mr Aliyu also said that the Nigeria Electrification Project (NEP) has already led to the electrification of 1.1 million households across more than 200 mini grids and the delivery of hybrid power solutions to 15 federal institutions.

According to a statement, this followed Mr Aliyu’s high-level inspection of Vsolaris facilities in Lagos, adding that the visit also served as a platform for the REA to highlight its decentralized electrification strategy, which relies on partnering with firms capable of managing local assembly and highefficiency project execution.

The federal government, through the REA, underscored the critical role the partnership with the private sector plays in achieving Nigeria’s ambitious off-grid energy targets and ending energy poverty.

Mr Aliyu emphasized that while public funds serve as a catalyst, the long-term sustainability of Nigeria’s power sector rests on credible private developers who are willing to invest their own resources.

He noted that public funds are intentionally deployed as catalytic grants to ensure that the private sector maintains skin in the game which he believes is the only way to guarantee true accountability and the survival of these projects over time.

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