News

Mutfwang’s N15 Billion Loan: Plateau APC Raises Alarm

Published

3 years ago

June 24, 2023

vicky

The Plateau State chapter of the All Progressives Congress (APC) has raised serious objections to the recent approval of a N15 billion loan by the Plateau State House of Assembly. The loan request, made by Governor Caleb Mutfwang, was granted in less than three weeks since the start of the People’s Democratic Party (PDP) administration in the state.

As a critical stakeholder in the Plateau project, the APC believes that this loan acquisition reflects the desperate and hasty nature of the PDP administration, which has shown little regard for due process and accountability.

The APC emphasizes that the two-thirds majority enjoyed by the Plateau State House of Assembly should not be seen as a license for recklessness and arbitrariness. If left unchecked, the state could face even more turbulent days ahead.

The reasons given for the loan are deemed unconvincing and untenable by the APC. Reports suggest that the funds will be allocated for recurrent purposes, such as salary payments and the purchase of fertilizer. The government claims that this loan is intended to demonstrate its concern for the welfare of striking workers and the farming community in the state.

However, the APC sees this as a mere facade and an attempt to deceive the people. The party argues that instead of installing Interim Administrators in the local governments to serve as conduits, the government has opted for the N15 billion loan to fulfill its extra-budgetary commitments.

According to the APC, government is a continuum, and the previous administration had already made adequate budgetary provisions for essential expenditures like workers’ salaries and fertilizers, considering the agrarian nature of Plateau State.

The approval of this N15 billion loan is particularly alarming because it violates the clearly outlined steps for loan acquisition as specified in the Plateau State Debt Management Law, which has not been repealed. These steps include the State Debt Management Advisory Committee’s discussion on the purpose and necessity of the loan for the state.

The APC highlights the importance of following due process and not operating as if under a military junta where decisions are made arbitrarily. For a loan of such magnitude, it is mandatory for the State Executive Council to approve it before submitting it to the House of Assembly for deliberation.

Furthermore, the approvals from the State Executive Council and the House of Assembly should be forwarded to the Ministry of Finance and the Debt Management Department for further processing, including seeking approval from the Debt Management Office and the Minister of Finance through the raising of an Irrevocable Standing Payment Order (ISPO).

The APC raises several important questions, including whether a State Executive Council is presently constituted in the state and if the Debt Management Advisory Committee has been established to discuss the loan based on the law. Additionally, concerns are raised about the state’s debt position in the future, considering the rapid acquisition of N15 billion within just three weeks, potentially leading to a debt of N720 billion in four years.

The APC questions why the same government that complains about a debt profile of N200 billion, which they misleadingly attribute to the immediate past administration, is eager to accumulate another substantial loan.

The APC concludes by urging the governor to exercise caution and be wary of certain advisers appointed to oversee critical institutions, such as the House of Assembly. The party suggests that immediate attention should be given to addressing pressing issues, particularly security, as the people of the state are continuously being killed and displaced by heartless murderers

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Business

Mutual Benefits Settles Over ₦5.5bn Claims, Reinforces Customer Trust

Published

2 hours ago

May 13, 2026

Preport

NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has paid over ₦5.5 billion in claims to policyholders as at April 2026, reaffirming its long-standing reputation as one of Nigeria’s most dependable and customer-focused insurance brands.

The claims payout, according to the company cuts across both General and Life businesses, underscores the company’s unwavering commitment to fulfilling its promises to customers promptly and consistently, even as Nigeria’s insurance industry continues to evolve amid recapitalisation and increased market scrutiny.

A breakdown of the claims settlement shows that the sum of ₦3,668,742,117.69 was paid under the General Business portfolio, while ₦1,914,029,614.93 was disbursed under the Life Business portfolio, covering Group Life and Retail Life policies.

The payouts covered a broad spectrum of claims including motor, engineering, marine, life protection, death benefits and other insured risks.

Equally important, Mutual Benefits has consistently earned commendation from policyholders for its responsiveness during difficult moments.

A retail customer whose motor insurance claim was recently settled by the company described the experience as reassuring:“You never truly know the value of insurance until something goes wrong. What stood out for me was how quickly Mutual Benefits responded and resolved my claim without unnecessary stress.”

Another Group Life beneficiary noted: “At a very difficult time for our family, Mutual Benefits came through professionally and compassionately. The support made a real difference.”

Speaking on the development, Managing Director, Mutual Benefits Assurance Plc., Olufemi Asenuga described the payout as more than a financial transaction.

“Insurance is ultimately about trust. At Mutual Benefits, we understand that our relevance is not measured merely by policies sold, but by our ability to stand by customers when they need us most.”

He noted further that the consistent settlement of genuine claims reflects the company’s strong operational structure, disciplined underwriting approach and enduring commitment to policyholders across Nigeria.

Industry analysts have continued to emphasise the importance of prompt claims settlement in deepening insurance penetration and restoring public confidence in the sector.

A Lagos-based insurance and financial services analyst, Chinedu Okafor, stated that: “In a market where customers are increasingly demanding accountability and proof of value, insurers that consistently pay claims promptly will continue to earn long-term trust and market relevance.

Claims payment is the strongest form of marketing any insurance company can undertake.”

The latest payout comes at a critical period for Nigeria’s insurance industry, as operators continue to position for stronger financial capacity, operational efficiency and increased consumer confidence in line with ongoing recapitalisation conversations across the sector.

Mutual Benefits noted that while financial strength remains important, long-term sustainability in insurance is ultimately built on trust, service delivery and the ability to honour obligations consistently.

The company reaffirmed its commitment to improving customer experience, accelerating digital transformation, deepening insurance awareness and delivering innovative products tailored to the realities of individuals and businesses.

With over three decades of operations and a growing footprint across Nigeria, Mutual Benefits continues to position itself as a reliable partner for protection, wealth creation and peace of mind.

The post Mutual Benefits Settles Over ₦5.5bn Claims, Reinforces Customer Trust appeared first on Business Today NG.

News

Plateau Govt Declares War on Terrorists, Tightens Security Measures

Published

3 hours ago

May 13, 2026

Preport

The Plateau State Government has declared that the state is “at war with terrorists and enemies of the state” as it vowed to intensify efforts to tackle the wave of coordinated attacks recorded across the state over the past four months.

The declaration was made after an emergency meeting of the State Security Council convened by Governor Caleb Mutfwang on Tuesday at the Rayfield Government House in Jos.

Addressing journalists after the meeting, the Secretary to the State Government, Samuel Jatau, said the council reviewed the worsening security situation and adopted fresh measures aimed at protecting lives and property.

Jatau said the emergency session brought together members of the State Security Council, chairmen of the 17 local government areas and the Chairman of the Plateau State Joint Traditional Council, the Gbong Gwom Jos, Da Jacob Gyang Buba.

According to him, the council concluded that Plateau had come under sustained attacks in recent months, with clear signs of coordinated assaults across communities.

“The council identified and unanimously agreed that the state has been under siege in the last four months with evidence of coordinated attacks unleashed on the state,” he said.

To curb the insecurity, the council resolved to intensify enforcement of the ban on motorcycles, night grazing and illegal mining activities, which it described as factors fuelling insecurity.

The government also directed security agencies to reclaim all ungoverned areas and public spaces across the state.

Jatau disclosed that the government would immediately boost logistics support for security agencies through the provision of additional motorcycles and operational vehicles to strengthen security operations.

The council further stressed the need for stronger collaboration between local government security structures and host communities, noting that intelligence sharing and synergy must be improved.

On public order, the government warned that any group found blocking highways would henceforth be treated as engaging in criminal activity and would face the full weight of the law.

The council also pledged to ensure the protection of farmlands ahead of the farming season to guarantee the safety of farmers and agricultural activities.

Traditional institutions were equally urged to tighten control over cultural groups and associations operating under their supervision.

Highlighting the seriousness of the situation, Jatau declared, “Plateau State is in a state of war with terrorists and enemies of the state.”

He added that the government remained fully committed to protecting lives, property and communities across the state.

As part of broader security measures, the council also resolved to launch a crackdown on drug dealers, traffickers and substance abusers operating within Plateau State.