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CBN Gov: Presidency At Labyrinth Over Emefiele

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  • 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.

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BREAKING: Senate to Engage US Lawmakers Over Alleged Christian Genocide in Nigeria

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By: Fabian Apechihin

The Nigerian Senate is set to engage with US lawmakers following renewed debate on alleged targeted attacks against Christians in the country.

The controversy intensified after American TV host Bill Maher, on his HBO program, described the situation as a “silent genocide,” accusing Western media of downplaying mass killings by Boko Haram, ISIS-West Africa, and Fulani militias. He cited claims that over 100,000 Christians have been killed since 2009 and thousands of churches destroyed.

Maher’s remarks were echoed by Republican Congresswoman Nancy Mace, who argued that the crisis had not received the international media attention it deserves.

Government Rejects Genocide Narrative
In response, Nigeria’s Minister of Information and National Orientation, Mohammed Idris, dismissed the claims as misleading and divisive. He emphasized that terrorist groups do not target Christians alone, insisting that Nigerians of all faiths—including Muslims and non-religious citizens—have suffered at the hands of violent extremists.

“Portraying Nigeria’s security challenges as a religious war is a gross misrepresentation of reality,” Idris said.

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Nigeria @ 65: The Worst Is Over, We’ve Turned a New Corner — Tinubu

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By: Fabian Apechihin

President Bola Ahmed Tinubu, in his Independence Day broadcast marking Nigeria’s 65th anniversary, assured citizens that the country has overcome its toughest challenges and is on the path to recovery.

Honouring the Founding Fathers

Tinubu paid tribute to the sacrifices of Nigeria’s independence leaders, including Herbert Macaulay, Nnamdi Azikiwe, Tafawa Balewa, Obafemi Awolowo, Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Michael Okpara, Aminu Kano, and Funmilayo Ransome-Kuti.
“They believed it was Nigeria’s manifest destiny to lead the black race as the largest black nation on earth,” he said.

Journey So Far

Reflecting on six decades of nationhood, the President noted that Nigeria had endured a civil war, military dictatorships, and political crises but survived with “courage and grit.”
“At Independence, Nigeria had only 120 secondary schools and two tertiary institutions. Today, we have over 23,000 secondary schools, 274 universities, 183 polytechnics, and 236 colleges of education,” he said, adding that the country had made “remarkable progress” in healthcare, telecommunications, aviation, and infrastructure.

Tough Reforms, Signs of Recovery

Tinubu said he inherited a fragile economy distorted by decades of poor policies but chose reform over inaction.
“Our administration ended the corrupt fuel subsidy regime and abolished multiple foreign exchange rates that enriched a few while impoverishing the majority,” he stated.
According to him, the measures are yielding results:

  • GDP grew by 4.23% in Q2 2025, the fastest in four years.
  • Inflation fell to 20.12% in August, the lowest in three years.
  • ₦20 trillion was realised from non-oil revenue by August.
  • Debt service-to-revenue ratio dropped from 97% to below 50%.
  • Foreign reserves climbed to $42.03 billion, the highest since 2019.
  • Oil output rebounded to 1.68 million barrels per day, while Nigeria refined petrol domestically for the first time in four decades.
  • The stock market surged from 55,000 points in May 2023 to 142,000 points by September 2025.

“The worst is over. Yesterday’s pains are giving way to today’s relief,” the President declared.

Tackling Insecurity

Tinubu said security agencies were making gains against insurgency, separatism, and banditry.
“Hundreds of communities have been liberated, with thousands of displaced persons returning home. We salute the gallantry of our armed forces,” he said.

Investing in Youth

Describing young people as Nigeria’s “greatest asset,” Tinubu highlighted ongoing programmes:

  • NELFUND Student Loans: ₦99.5bn disbursed to 510,000 students.
  • Credicorp Loans: ₦30bn given to 153,000 Nigerians for solar, housing, transport, and digital devices.
  • YouthCred: Credit support extended to NYSC members.
  • iDICE Programme: Partnership with AfDB, AFD, and IsDB to boost innovation in digital and creative sectors.

Call for Collective Effort

Acknowledging that reforms have caused temporary hardship, Tinubu urged Nigerians to remain steadfast.
“Our progress must not be measured by statistics alone, but by food on our tables, quality of education, electricity in our homes, and safety in our communities,” he said.

He called on citizens to embrace productivity, pay taxes, support local industries, and contribute to nation-building.
“The dawn of a new Nigeria is here — self-reliant, prosperous, and united. With God on our side, we will overcome. Let all hands be on deck,” he concluded.


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Bandit Kingpin Releases 28 Captives in Katsina Following Peace Deal

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A total of 28 persons abducted by suspected bandits in Faskari Local Government Area of Katsina State have been released without ransom following a peace arrangement with bandit kingpin.

The bandits, led by their commander identified as Isya Akwashi Garwa, handed over the captives to officials of the council on Wednesday.

Zagazola  reports that those released were largely residents of Mairua, Kanen-haki and Yar Dabaru communities.

Local authorities confirmed that the release was the outcome of a reconciliation effort initiated in the area to restore peace and reduce violent attacks.

Community leaders in Faskari described the development as a positive signal and urged both sides to sustain the peace process. They also urged the bandit to force other bandits still attacking in the area to stop.   

A council official, who spoke on condition of anonymity, said: “The captives were released this afternoon without any ransom being paid. The bandit leader fulfilled his promise under the peace talks,”he said.

Meanwhile, residents expressed relief at the safe return of the abductees, with some calling for stronger security guarantees to consolidate the gesture.

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