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Making the right choice for a CBN Governor

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By Bernard Okeke

The economic policy direction of the government of President Muhamamdu Buhari has been clearly outlined. The struggle of the government to rescue the economy from recession and reboot it for the desired results have seen the constitution of the National Economic Council (NEC) led by the Vice President, Professor Yemi Osinbajo and the launch of the Economic Recovery and Growth Plan (ERGP).

These measures demonstrate the eagerness of government to vigorously pursue a robust economy for the benefit of the country. It’s clear, these expectations have not been fully met in the last three- four years of the Buhari administration. There were understandable hiccups such as the drastic drop in the prices of oil revenues, government’s major source of public finance and funding.

However, with the gradual improvements in revenues, the management of the Central Bank of Nigeria (CBN) which is responsible for fiscal policies and management in consonance with the economic focus of the government has performed below expectations. For instance, the priority of the Buhari Presidency in fully diversifying the Nigerian economy through agriculture, to severe it from over-dependence on oil revenues has not been fully explored these years.

In the agricultural value chain, only rice production was minimally supported; while the vast majority of other foreign exchange earning cash crops in the country were untapped. The CBN Governor, Mr. Godwin Emefiele and his management team did not fully grasp that the Federal Government of Nigeria (FGN) under President Buhari angled for a situation where every Naira which comes into the treasury is used for the good of the people, especially, the ordinary Nigerians.

Based on the foregoing, its safe to conclude that it is evident that stifling policies have held back the manufacturing sector and Micro, Small and Medium Enterprises (MAMEs) have not fared better in the last three years either.

But in launching the ERGP in April 2017, President Buhari rolled out a medium-term plan starting from 2017-2020 designed to revive the Nigerian economy from recession and stimulate inclusive and sustainable growth. Its obvious bulk of the plans contained in this framework has spilled over to the years ahead.

The ERGP targeted the restoration of growth through macro-economic stability and economicdiversification with more focus on agriculture, energy and MSMEs- led growth in industry, manufacturing and other key services by leveraging science and technology. The ERGP also focused on investing in the Nigerian people by increasing social inclusion for the poor and vulnerable citizens, reducing unemployment and underemployment with greater focus on youth as well as investing in the health and education.

And finally, the ERGP has a mandate tobuild a globally competitive economyby increasing investment in infrastructure and stimulating favorable business environment to attract investors. But these aspirations have not been fully met or have remained a mirage in most of the areas because the CBN which has the statutory responsibility is to exalt control and supervision of the banking sector, to monitor the balance of payments in accordance with the demands of the FGN, evolve and direct a monetary policy along the demands of the federal budget has slacked.

President Buhari would soon start his second term of four years. And like he re-emphasized in his post-election victory acceptance speech; “The new Administration will intensify its efforts in Security, Restructuring the Economy and Fighting Corruption.” Again, Mr. President has re-emphasized a direction of his government in the next four years.

Therefore, Nigeria needs a CBN Governor and management team that is alive and very active to speedily drive the economic vision of the government and the country. As the tenure of the current CBN Governor, Mr. Godwin Emefiele draws to an end, his replacement should be a tested, trusted and hard working technocrat who would neither bow to external influences against the country nor de-prioritise government policies, but pursue them with vigour.

It is germane for President Buhari to search in-house for someone within the establishment, who knows the job and with vast knowledge and experience of the various policies of the FGN and full understanding of the Nigerian economy and how it can be restructured as the government intends.

The experience in appointing CBN Governors since 1993 to date with the exception of Prof. Charles Soludo indicates that each Nigerian leader picks his candidate from the Chief Executive Officers (CEOs) of commercial banks in the country. Godwin Emefiele moved to CBN as Governor from the position of Zenith Bank’s CEO. There is need to attempt another formula by picking from the retinue of top performing senior civil servant/technocrat, as against government’s consistent posture of appointing a banker from commercial banks to lead the CBN.

Most of them sometimes prove to be counter- productive; devote too much years to study and understand government policies, plans and programs before finally settling down to do the job. Also, engaging commercial banks CEOs in the past has shown that some of them are stifled by the affinity and favoritism issues to certain banks, especially their mother banks and thereby ruining confidence of foreign investors in investing in the country.

In essence, President Buhari should search for the next CBN Governor from the rich reservoir of core civil servants to find a competent technocrat to take over the job. The experts can be identified by Mr. President’s own assessment from the ranks of those he deems have performed creditably his economic and financial reforms.

Okeke PhD wrote this piece from University of Nigeria, Nsukka.

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Opinion

OF GOVERNANCE AND THE ZULUMFICATION OF GOVERNANCE IN BORNO: RANDOM MUSSINGS ON GOV. ZULUM’S 3RD YEAR 2ND STANZA.

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By: Inuwa Bwala. inuwabwala3@gmail.com

By the time I put down my pen, the media space would have been awash with narratives about the achievements of Mr President and governors, as a mark of celeberation of their third year in office.
I will not bother chronicling what will be told of their achievements, rather I want to look into the curious magic wand that made my own governor to stand differently tall.
One will not find the definition of title coinage for this piece in any conventional English lexicon, but no Nigerian will claim ignorance of what it signifies in our present governance discourse.
Many words have today been personified after certain people, who popularize an idiosyncritic mannerism.
And so, in Borno’s 15-year war against insurgency, Governor Babagana Umara Zulum seem to have chosen an unconventional playbook: governance style, reminisceint of an emergency doctor, not a distant administrator, which led to above coinage.
Three idiosyncrasies define his second term in particular, and the gains are showing on the ground to the effect that, these idiosyncracies gave rise to the coinage: Zulumfication.

Zulum’s trademark has been his unannounced visits; 2am checks on General Hospitals, surprise trips to IDP camps in Monguno, Baga, Damboa and others. Sudden stops on bad roads in Gwoza and unsheduled night overs in dangerous localities, as his routine.
He inspects projects with torchlight and asks hard questions: sometimes sacking absentee staff on the spot.
And the gains have added speed and discipline to government Contracts and civil servants.
They promptly deliver, knowing Zulum could appear any day any time.
This obviously explains how, 238 projects got completed in year one of his second term and 1,195 projects in five years. That urgency earned Governor Babagana Umara Zulum the Nigeria Union of Journalist’s Good Governance Award on Education in 2023.
And while Borno spent about N100bn on security in 2025, Zulum kept prioritizing people, with N727m going to 28,801 tertiary students. N1.5bn covered nursing students’ fees, besides the cash support reacheming 343,293 women.
His logic, has been that, “Education is the real antidote for insurgency. The payoff is human recovery.
Records indicate that, over 1,000 teachers were recruited, 150+ schools rebuilt, and the 104 Mega School Initiative launched. And so, when President Tinubu commissioned three mega schools in Maiduguri in 2026, he called them “tangible evidence of effective governance.” Kids who once hawked on Maiduguri streets are back in class because opportunity replaced despair.

Again, Zulum is known to have zero tolerance for waste. He has queried commissioners live on TV, sacked ghost workers, and confronted contractors who abandoned sites. It nay be uncomfortable in politics, but it works. Borno scored 89.7/100 on the 2025 Governance Accountability & Transparency Index, up from 86.3 in 2024, ranking among Nigeria’s top 10. Ministries now expect scrutiny, and leakages have shrunk.

Zulum blends this with reconstruction plus reconciliation. While 20,000+ resettlement homes house over 1 million returned IDPs, his “Borno Model” has convinced 200,000+ fighters and families to surrender and got reintegrated. Markets in Bama, Dikwa and Gwoza are reopening. Roads are being rebuilt, though insecurity still stalls some projects in southern Borno.

He remains low-profiled but with very high-output, avoiding political noise and letting the work speak. The Muslim News Nigeria honored him with its 2025 Transformational Leadership Award for “courage, accountability, compassion.”

Perfection is not claimed. Pockets of violence persist, and security costs strain finances, but Zulum’s style proves a point
In a crisis situation, presence builds trust, empathy rebuilds people, and accountability restores institutions. Borno is moving from “state of emergency” to “state of reconstruction” — one unannounced visit produces uncommon results.
Thiese in my opinion are amingst the exceptional things governor Babagana Umara has done, which have given rise to his national acclaim as an outstanding performer.

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Opinion

Aondoakaa, a Leader Who Opens Doors: My Personal Story of Chief Michael Kaase Aondoakaa, SAN

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By Iorwuese Tyopev, PhD

Chief Michael Kaase Aondoakaa, SAN, is, in my experience, a transformational leader, and I can personally testify to this from years of direct engagement with him.

Although I initially knew him only casually as an elder brother from Ushongo, our relationship deepened when I approached him to patronise the business I managed as a hotel manager in Abuja. From that point, Siman Suites in Garki became his preferred accommodation whenever he was in the Federal Capital Territory.

Each time he was travelling to Abuja, his usual call would come: “Tyopev, my brother, please keep a room for me, I’m on my way.”

A defining moment in 2006

One of the most memorable moments in our relationship came in 2006 when he was conferred with the rank of Senior Advocate of Nigeria (SAN). For his swearing-in ceremony at the Supreme Court, he booked almost the entire hotel for family, friends, and well-wishers who travelled from far and near to celebrate with him.

Beyond the business value, his consistent patronage strengthened my professional standing at the time and positively influenced my performance evaluation at work.

Continued relationship in public service

Our relationship continued after his appointment as Attorney General of the Federation and Minister of Justice in July 2007 under the administration of President Umaru Musa Yar’Adua.

Coincidentally, around the same period, my late boss, Senator J.I. Akaagerger, was elected into office and invited me to serve as his Senior Legislative Aide at the National Assembly. Chief Aondoakaa also expressed interest in bringing me into the Ministry of Justice as an aide. Although I chose to remain with my principal at the National Assembly, he respected my decision and maintained a cordial, brotherly relationship with me.

Prison decongestion intervention

Shortly after assuming office as Minister, he launched a prison decongestion initiative. In September 2007, I submitted an application requesting allocation of prison decongestion cases. He immediately asked whether I had legal representation, and upon confirmation, he promptly assigned several cases to me.

That support continued throughout his tenure until 2010.

Career support and mentorship

By mid-2008, I expressed dissatisfaction with my role at the National Assembly. He advised patience and assured me of better opportunities.

True to his word, in January 2009, he informed me of an opportunity with Dr Paul Orhii, then Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), who agreed to engage me as Special Assistant.

Although I resumed duty, I was later informed—within 30 days—that my services were no longer required due to a change in preference. Chief Aondoakaa was abroad at the time, but upon his return, he reassured me, saying: “Don’t worry, another opportunity will come.”

New opportunity at NAPTIP

Shortly after, I was invited to his residence in Apo, where I met Barr. Simon Chuzi Egede, MON, who had just been appointed Executive Secretary of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP).

There, I was informed that I would serve as Special Assistant to the new Executive Secretary.

In a remarkable turn of events, I received my appointment letter the next day as Special Assistant at Grade Level 16 Step 5, along with an official vehicle and chauffeur. I was also integrated into top management committees and exposed to both national and international engagements.

End of an era and lasting gratitude

Following the death of President Yar’Adua in 2010 and subsequent political changes, Chief Aondoakaa left office as Minister, which also affected my position at NAPTIP due to its political nature.

Looking back, I remain deeply grateful to Chief Michael Kaase Aondoakaa, SAN, for his loyalty, mentorship, and willingness to uplift others.

Some leaders inspire with words; others transform lives through action. Chief Aondoakaa, in my experience, belongs firmly to the latter category.

NB: This is Part 1 of a series of reflections on my personal experience with MKA, highlighting his mentorship and support to those around him, shared in anticipation of his birthday on June 12.

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Opinion

Odua People’s Assembly defends NSA Ribadu, criticizes Ishola Williams’ call for removal

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The Odua People’s Assembly (OPA) has come out in defense of National Security Adviser (NSA) Nuhu Ribadu, condemning recent remarks by retired Nigerian Army General Ishola Williams calling for Ribadu’s removal.

In a statement issued by OPA Chairman Richard Olatunji Kayode, the group described Williams’ comments, made during a Channels Television interview on March 15, 2026, as “irresponsible and counterproductive,” arguing that they lacked factual basis and risked undermining efforts to address Nigeria’s security challenges.

“His assertions lack factual support and are driven more by emotional manipulation than by evidence-based reasoning,” Kayode said. “Such rhetoric contributes to a culture of ‘permanent pessimism’ that undermines the morale of our security forces and the integrity of our national institutions.”

Kayode emphasized that irresponsible criticism, unlike constructive feedback, damages reputations, fosters mistrust, and distracts from meaningful solutions.

He urged that public discourse focus on actionable measures rather than unsubstantiated accusations.

The OPA highlighted Ribadu’s proactive initiatives, including the National Forest Guard programme, as well as his record as former Chairman of the Economic and Financial Crimes Commission (EFCC), where he gained recognition for anti-corruption efforts.

“Under the leadership of President Bola Ahmed Tinubu, Ribadu has been recognized for his effectiveness in combating banditry and terrorism. His ability to coordinate security forces and solve criminal cases demonstrates his competence and dedication to public safety,” Kayode said.

The group called on influential Nigerians to engage in responsible and constructive dialogue on national security issues, urging Williams to reconsider his position and contribute to solutions rather than criticism.

“Our collective responsibility is to foster an environment of trust, collaboration, and constructive criticism, ensuring that our security forces are equipped and supported to protect our great nation,” Kayode concluded.

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