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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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2027: THE MANY WARS IN PARTIES

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☆ ADC, PDP, NDC, LP Tacle APC Amidst Internal Wranglings.
☆ Party primaries trigger godfather vs godson clashes.
By: Our Special Correspondent.

Election periods always make Nigeria a political melting pot. Tensions, intrigues, violence, manipulations and grandstanding have been the order.
2027 may not be an exception, as already, the polity is heating up and political players are up in arms.
Between political parties, battle lines are being drawn.
It is no longer news that, President Bola Ahmed Tinubu of the APC, former Vice President Atiku Abubakar of the ADC and former Anambra state governor, Peter Obi of the NDC have secured the presidential tickets for their various political parties, ahead of the 2027 elections.
While Nigerians await the outcome of the presidential primaries for the other parties, it is apparent that the leading dramatis personae of the 2023 presidential election debacle, are set to square it out again in 2027.
But, while most, if not all the opposition political parties are emershed in multi-dimenssional crisis, the stage seems set for dirtier political schemings, in the quest to wrestle power from the ruling APC.
With the apparent collapse of the much talked about coalition, frontline candidates may again go into the election as a divided house, as the parties are further polarized by the attendant crisis arising from the just concluded primaries.
The ruling APC, also faced with similar crisis following the primaries. The primaries of all the parties seem to have sparked internal wranglings
across Edo, Delta, Lagos, Oyo, Kano, Rivers and other states. In most states, the primaries for governorship, Senate and House of Representatives seats have triggered deepening crises between governors, former governors, senators and entrenched party blocs.
While one may regard such disagrerments as normal and could be resolved before the main election, the disagreement between President Tinubu and the opposition may linger.

The President is fighting hard to ward of attacks over his failed promises which were made in 2023, as campaign issues.
Similarlly, the issue of insecurity, fuel subsidy, pol8cy summersault, and general cost of living have been brought to the front burner, in political discourse.
Tinubu told Nigerians on Friday that subsidy removal and forex reforms have revived investor confidence, lifted market cap to 250,000 points, and drawn new oil and gas investment. He also said security operations have “intensified” against bandits, separatists and insurgents.
But critics insist that Tinubu’s camp is working to cripple opposition parties reminescent of the Abacha-era dark days.
In apparent move to realign forces and reshape 2027, NDC’s Peter Obi has announced Rabiu Musa Kwankwaso as his running mate.
Obi told a gathering brfore naming Kwankwaso as his running mate, that, the Vice President office under him, will be “an active partner, not ceremonial”. The NDC held a special convention Saturday to affirm Obi as flagbearer where he promised 10,000MW electricity generation. Labour Party has also presented Dr. Chibuzo Okereke as its presidential candidate, a lowly rated personality.
At the sub-national level, political players are pulling the strings from different end. Most governors are being accused of imposing their cronies as governorship, senate, House of Representatives and House of Assembly candidates.
The national leadership of the APC has been struggling hard to adress the widespread crisis occassioned by the primaries. The APC, in Lagos amidst the internal wars, has picked Princess Damilola Sonayon-James as running mate to Lagos governorship candidate Dr. Obafemi Hamzat. Both are seen as stooges of the governor and by extenssion the President.
In Rivers, FCT Minister Nyesom Wike has vowed that, the APC “Rainbow Coalition” will agree on one governorship candidate and that ADC’s Atiku won’t get 10% of Rivers votes. Though the candidate has not yet been named.
Wike also declared “Rivers has no option but to back Tinubu”.
In several states, there have been massive decampments from the APC in particular, because of unfavourable outcomes of the primaries.
All these point to a turbulent outing for the APC, even as the ruling party.
As for the opposition parties, they all have been emasculated, and may not be able to pose much threat to the ruling APC.
While the political wranglings were going on the most serious threat to the APC remains the rising concern over insecurity. The issue seem to have ignited anger across the country, with Federal Workers Forum threatening an indefinite nationwide strike over rising insecurity and unresolved wages. SERAP, has meanwhile urged the UN Secretary-General to invoke Article 99 over Nigeria’s “escalating insecurity—mass abductions, killings, displacements”.

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

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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.

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FG Dismisses Coup Rumour, Reaffirms Confidence in Nigerian Military

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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.”

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