Headlines

CBN Gov: Presidency At Labyrinth Over Emefiele

Published

10 years ago

January 18, 2016

May proceed on leave, As Buhari Seeks Replacement
Forces Battle To Save Him, NASS Guns For His Jugular

It seems only a matter of time before President Muhammadu Buhari, announces the sack of Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, as he is said to be at his wits end having come under serious pressures to fast track the revival of Nigeria’s economy, with the Governor seemingly ‘lacking the clue’ on how best to go about.
nationalTRAIL reports that, the President has been inundated with complains of lack of performance by the CBN helmsman, aside accusations of alleged sundry corrupt acts, which saw to the massive looting of the nation’s treasury under his watch by officers of the immediate past administration of Goodluck Ebele Jonathan.
Only last week Monday, a brief news flash on TVC News to the effect that Central Bank Governor had been removed sparked off confusion, putting some staffers of the bank on a razor edge tension, with yet others jubilating, only for Godwin Emefele to appear on Television a few hours after the breaking news flash, addressing a press conference and announcing major policy decisions by the apex bank, Including the lifting of restrictions on forex transactions.
While some regarded the news as a deliberate mischief, given the fact that instead of clearing his desk as expected, the CBN Governor appears to be waxing stronger, nationalTRAIL can authoritatively reveal that there was actually a move in the Presidency to announce Emefiele’s removal, but was shelved at the last minute for reasons yet unknown.
Sources within the presidency told our correspondent that a legal team constituted by the presidency is studying the Central Bank of Nigeria Act, before making any pronouncement on Godwin Emefiele and that,” It is a matter of time, again we have to look carefully into his letter of appointment before any major decision, because there are certain constitutional provisions that might conflict with whatever good intention that has to do with his removal” .
Another source at the office of the Economic and Crimes Commission (EFCC) confirmed this much “we are waiting for him to clear his table, because he is the only person who can give detailed account of how controversial funds were disbursed from the CBN”.
This is even a investigations into and prosecutions over the massive withdrawal from the CBN by the former National Security Adviser, Sambo Dasuki, and other former Government officials gets under way, fear of imminent purge has gripped the top echelon of the Central Bank of Nigeria, beginning with its Governor.
The Economic and Financial Crimes Commission (EFCC), nationalTRAIL gathered is closing in on collaborators within the apex bank, and their various roles in facilitating the fraud, especially on the modalities for releasing the funds. Also how billions of Naira was contributed to the presidential campaign of former President Goodluck Jonathan, and other political activities.
The EFCC which got the Presidents further orders to investigate certain individuals and organizations, found it difficult to extricate the CBN which got directives to honour payment mandates from embattled former National security Adviser, to the effect that some of those indicted in the probe accessed money directly from the Bank, contrary to its operational policies.
Our correspondent reports that, Godwin Emefiele, as CBN Governor may have presided over the disbursement of Funds for Peoples Democratic Party’s campaign, even as he was said to have been brought into the system, with a script by the powers that appointed him.
According to an insider at the apex bank, “some management staff may be invited this week by the anti- graft agency, a development that has been causing some of the staff sleepless nights.
Both the Presidency and the Central Bank of Nigeria have kept sealed lips over the development, but sources confirmed to us that, President Muhammad Buhari, has been at a labyrinth over whether to replace the embattled CBN Governor, as being canvassed by some forces, or to let him be as some other forces are demanding.
Both Mallam Garba Shehu, Senior Special Assistant to the President on Media and Alhaji Bello Muazu, Director of Communications at the CBN were not forthcoming with any comments on the issue, but our correspondent reports that there is uneasy calm at both ends, since it became public knowledge that there is an ongoing battle amongst contending forces over Godwin Emefiele.
The Nigerian senate, apparently getting impatient with Emefiele’s too numerous and contradictory policies, may have initiated moves for the man’s ouster, as he has already been summoned to explain why the nation’s currency seems to be dangerously sliding without any apparent moves being initiated to save the situation by the CBN.
Sources at the senate confirmed to our correspondent that Senators were not impressed with Emefele’s recent grandstanding to the effect that the Nigerian economy was on course, and the nation’s currency healthy, as the depreciating value of the Naira, as well as certain economic indicators suggest that the Nigerian economy may be heading for a collapse, which they intend to take the CBN Governor over when he faces the distinguished senators.
Our investigations further reveal that the EFCC has concluded prelimnary investigations of some illegal withdrawals from the CBN with the alleged active connivance of the governor, including the celebrated arms deal scam, and President Buhari’s hammer is waiting to land in the bank, which may see to the exit of other top management staff of the bank.

Headlines

“Nigeria Is in a Hurry to Celebrate Victory Over Enemies of the State,” Says Tinubu as He Decorates New Service Chiefs

Published

1 month ago

October 30, 2025

Our Reporter

By: Fabian Apechihin

President Bola Ahmed Tinubu has urged the newly appointed service chiefs to discharge their duties with utmost dedication and renewed commitment, declaring that “Nigeria is in a hurry to celebrate victory over enemies of the state.”

The President made this statement on Thursday during the decoration ceremony of the new service chiefs with their ranks at the Aso Rock Presidential Villa in Abuja.

Those decorated were General Olufemi Oluyede as Chief of Defence Staff, Lieutenant-General Wahidi Shaibu as Chief of Army Staff, Air Marshal Kennedy Aneke as Chief of Air Staff, and Vice Admiral Idi Abbas as Chief of Naval Staff.

The ceremony was attended by Vice President Kashim Shettima and the spouses of the newly promoted officers, who joined the President in performing the decorations.

In his address, Tinubu underscored the central role of security in fostering national development and reaffirmed his administration’s commitment to protecting the lives and property of all Nigerians.

“Security is an essential element without which everything else becomes meaningless,” the President stated. “There can be no sustainable development if this fundamental need is not met. Our people and our nation must remain secure to enjoy the dividends of governance.”

The elevation and decoration of the new military chiefs followed their confirmation by the National Assembly on Wednesday, after a closed-door screening session with lawmakers.

It will be recalled that, in a recent overhaul of the nation’s military hierarchy, President Tinubu appointed:

Lieutenant General Olufemi Olatubosun Oluyede as Chief of Defence Staff,
Major General Waidi Shaibu as Chief of Army Staff,
Rear Admiral Idi Abbas as Chief of Naval Staff,
Air Vice Marshal Sunday Aneke as Chief of Air Staff, and
Major General Emmanuel Undiandeye retained as Chief of Defence Intelligence.

The new appointments mark a strategic restructuring of Nigeria’s security leadership aimed at strengthening the fight against insurgency, banditry, and other threats to national stability.

Headlines

FG Dismisses Coup Rumour, Reaffirms Confidence in Nigerian Military

Published

1 month ago

October 20, 2025

Our Reporter

By: Fabian Apechihin

The Federal Government has dismissed widespread rumours of an alleged military coup plot against President Bola Tinubu, declaring its full confidence in the loyalty and professionalism of the Nigerian Armed Forces.

Minister of Information and National Orientation, Mohammed Idris, made this known in an interview with The Punch on Sunday, insisting that the administration has “no reason whatsoever” to doubt the assurances given by the Defence Headquarters, which had earlier denied reports linking the detention of 16 military officers to a coup attempt.

“The Federal Government has no reason to doubt the military on what it has said,” Idris stated.
“We believe the Armed Forces of Nigeria remain committed to protecting the nation’s territorial integrity and strengthening the fight against insecurity. The government commends their sacrifice and will continue to support them in safeguarding the country.”

The minister’s remarks came a day after the Director of Defence Information, Brigadier General Tukur Gusau, firmly debunked a report by Sahara Reporters alleging that the detention of 16 officers was connected to a failed coup plot and the cancellation of the 65th Independence Day parade.

Gusau described the publication as “false, mischievous, and deliberately aimed at creating unnecessary tension and public distrust.”

He clarified that the cancellation of the October 1 Independence Day parade was a purely administrative decision — taken to allow President Tinubu attend a key bilateral meeting abroad and to enable military units sustain ongoing counterinsurgency operations nationwide.

On the issue of the detained officers, Gusau said their case was “an internal disciplinary process” and not related to any political matter.

“The investigation involving the 16 officers is routine, aimed at upholding discipline and professionalism within the ranks,” he explained. “An investigative panel has been constituted, and its findings will be made public in due course.”

Reaffirming the military’s constitutional role and unwavering commitment to civilian rule, Gusau stressed emphatically:

“Democracy is forever.”

Headlines

FG Moves to Reform Civil Service Disciplinary System for Greater Efficiency

Published

2 months ago

October 14, 2025

Our Reporter

By: Fabian Apechihin

The Federal Government is set to overhaul the disciplinary control system in the civil service to promote efficiency, accountability, and timely resolution of cases.

The Chairman of the Federal Civil Service Commission (FCSC), Prof. Tunji Olaopa, made this known during a one-day joint retreat between the FCSC and the Office of the Head of the Civil Service of the Federation (OHCSF).

In a statement issued on Tuesday by the Commission’s Head of Press and Public Relations, Taiwo Hassan, Olaopa emphasized that the review would drive culture change, value reorientation, and improve the overall disciplinary framework in the public sector.

He likened the relationship between the FCSC and OHCSF to that of “Siamese twins,” noting that both bodies share crucial responsibilities in policy implementation, regulatory enforcement, and leadership across the service.

Olaopa also underscored the need for stronger collaboration and communication between the two institutions to avoid misunderstandings, build trust, and enhance service delivery.

The FCSC chairman further advocated for an integrated system that links merit-based recruitment, competency-driven human resource management, and performance evaluation with the civil service wage structure, saying such reforms would help reposition government as an “employer of choice.”

Speaking on behalf of the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, Esther Walson-Jack praised Olaopa’s reform initiatives, describing the retreat as a renewed commitment to strengthening collaboration and efficiency within the civil service.

The renewed push for reform follows rising concerns about bureaucratic bottlenecks, delayed disciplinary actions, and weak accountability mechanisms in Nigeria’s public administration.