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The Imperative of Emefiele’s International Recognition on Nigeria’s Economy

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By Solomon Semaka

In the Christian Holy Book, Jesus is quoted to have said to the people of his hometown of Nazareth after they failed to recognise his messianic message of the sonship of God that a prophet is not without honour, except in his hometown and among his relatives and in his household.’ (cf Mark 6: 4, English Standard Version). The people of this little town could not believe that the little boy that grew up with them, whose parents they also knew very well could become so powerful, wise and knowledgeable about the law and scriptures like Jesus did. The elders felt they should be the ones teaching him and not the other way around. Even in our homes and offices, we trivialize people’s talents and skills because they come from certain places or are of a certain age or religion. It is also common for people to refuse to accept even the most seasoned technocrat’s leadership because of political party affiliation, tribe and even religious or gender consideration. This analogy can be likened to the case of a great financial wizard and technocrat of the Nigerian banking system in the person of Chief Godwin Emefiele, the indefatigable Governor of the Central Bank of Nigeria.

The global Banking and Financial Community over the years has been keenly observing and documenting his numerous pioneering achievements and technological innovations in the Nigerian banking system and the Central Bank of Nigeria. Little wonder, on Thursday, 13th October 2022 at the Willard Intercontinental Hotel, Washington DC, the Foreign Investment Network (FIN), organizers of the *Euroknowledge* Award For Digital Transformation conferred on the astute financial Wizard, the
‘Euroknowledge Africa Most Innovative Digital Transformation Governor of the Year Award for 2022. This more than ever before calls for genuine celebration and indeed Nigerians who are conversant with the modest yet transformational works Chief Emefiele was doing for the Nigerian economy are in great jubilation and rolling out the red carpet for him.

Chief Godwin Emefiele is no doubt a giant in the area of banking innovations. He is a pioneer not just in Nigerian banking but in Africa and indeed the world at large. The CBN under Emefiele has emerged as a pace-setter in the payments system with pioneering efforts in Central Bank Digital Currency (CBDC). This is the first of its kind and a marvel even to the International Monetary Fund (IMF) and the World Bank who have shown interest and are eager to key into the innovative policy, a brain child of the Central Bank of Nigeria under Godwin Emiefele. This digital currency popularly called e-Naira has clocked one year since its launch with many financial benefits to justify it’s sustainability.

Before the emergence of Emefiele, many Nigerians were ‘unbanked’ and had no access to financial and banking services, especially in rural areas. The CBN under Chief Emefiele changed that narrative and also deepened options for digital payments by licensing many Micro-Financial companies to deliver services to the grassroots. The CBN also licensed Mobile Money Agents that made it possible for Nigerians everywhere to seamlessly operate wallets on their phones, and receive and send money without any hassles. The multiplier effect of this on the economy is unquantifiable.

The CBN had, in the wake of the COVID-19 pandemic saved Nigeria from going into a terrible recession even when almost the whole world was on its knees and barely struggling to keep their economies afloat. The innovative financial management techniques and approaches used by the CBN through the AGMESIS loan scheme for SMEs and Households which stimulated local production helped save the economy. Not just that, the CBN through the able and visionary leadership of Chief Emefiele extended more stimulus packages to youths through the NYSC scheme, manufacturers and other stakeholders, the Nigerian economy did not succumb to the global recession that visited other countries. Nigerians of goodwill across all divides are grateful for this financial mastery of a Nigerian son and patriot who is now receiving international awards with reckless abandon.

Through the financial foresight and determination of the CBN Governor and keeping to the cashless policy of the CBN, Point of Sale Terminals (POS) is spread across the length and breadth of the country. Before now, only in banks could one find POS. With a secured payment system and a robust system for lodging complaints in various financial institutions and other licensed payment agents, POS operators are smiling daily to the bank with their patrons saving many man-hours that were previously wasted queuing in banking halls and bank ATM machines. Apart from the hundreds of thousands of people employed as POS vendors, the deployment of POS and their seeming availability in all shops, schools, churches, fueling stations, motor parks and even in the remotest villages has eased payments and facilitated trade all over the country.

Nigeria has become a hub for direct foreign investments in Nigeria because of the ease of doing business facilitated by the legendary financial wizard. The number of investors indicating interest in the Nigerian business environment especially the financial sector and those already doing business in Nigeria is a confirmation of the fact that Nigeria under Emefiele is a fertile ground for secured and profitable investments. With a secured payment system and a friendly forex regime, investors have nothing to fear as can be seen from the number of new investors choosing the Nigerian destination from all over the world. Nigeria’s economy is indeed growing and history will forever be kind to Chief Emefiele for his innovative financial management skills and prowess.

The CBN in conjunction with the Nigerian InterBank Settlement System (NIBSS) and the Bankers Committee set to float a National Card Scheme to improve the payment system in Nigeria. The project which has already received approval and the nod of all stakeholders is the brainchild of the CBN under Chief Godwin Emefiele. The National Domestic Card scheme is created to help drive acceptance and efficiency and reduce the operating cost of cards in the country. It is configured to address the unique ecosystem that we have to help improve payment across the nation with lower charges. This local content is at its peak with features that support micro-payment and credit, e-government, identity management, transportation, the health sector and agriculture in terms of payment. This and many other innovative solutions are the things the ‘little boy of Nazareth’ is doing that many people do not want to recognize.

As the global world recognizes and honours Chief Godwin Emefiele, it is high time we rally around him and give him our utmost support. It is noteworthy to commend Mr. President for the confidence he has reposed in the financial technocrat in driving the economy. With the ideas and international experience of Chief Emefiele, Nigeria’s banking and financial sector will soon become a rallying point globally.

Rev Solomon Semaka is the Convener Save Nigeria Movement

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Tinubu Hails APC Leader Hamma-Adama Ali Kumo at 55

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President Bola Ahmed Tinubu, GCFR, has extended warm felicitations to Honourable Hamma-Adama Ali Kumo, popularly known as Dattuwa, as he celebrates his 55th birthday.

In a statement from the State House, President Tinubu described Hon. Kumo as a patriotic leader, a loyal party stalwart, and a dedicated public servant whose contributions have strengthened the All Progressives Congress (APC) and advanced Nigeria’s democratic journey. The President praised Kumo’s commitment to grassroots mobilization, his advocacy for education and youth empowerment, and his role in fostering unity within the APC, particularly in Gombe State.

Hon. Kumo currently serves as Chairman of the Governing Board of the Industrial Training Fund (ITF), where he has championed initiatives to boost skills acquisition and workforce development across the country. He also holds the position of Deputy National Financial Secretary of the APC, a role in which he has been instrumental in promoting transparency and accountability in party administration.

President Tinubu noted that Kumo’s political career reflects resilience, vision, and a deep commitment to service. “Honourable Hamma-Adama Ali Kumo has consistently demonstrated integrity and patriotism in his service to our nation. His leadership continues to inspire progress in Gombe State and across Nigeria,” the President said.

Tributes have poured in from colleagues and supporters who describe Kumo as a bridge-builder, mentor, and advocate for the welfare of his people. His 55th birthday celebration has become a moment to reflect on his enduring impact on Nigerian politics and governance.

As he turns 55, President Tinubu prayed for Hon. Kumo’s continued good health, renewed strength, and greater accomplishments in the years ahead, emphasizing that leaders like him embody the values of patriotism and service that Nigeria needs to thrive..

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ICPC’s War Against Corruption: How Musa Aliyu Is Reclaiming Nigeria’s Stolen Wealth

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Barely a week ago, the Independent Corrupt Practices and Other Related Offences Commission once again proved that Nigeria’s anti-graft war is far from a toothless bulldog. Chairman Dr Musa Adamu Aliyu, SAN, disclosed to State House correspondents in Abuja that his commission had unearthed yet another fake government agency, this time operating brazenly within the Office of the Secretary to the Government of the Federation. The phantom outfit, calling itself the National Brands Development and Made in Nigeria Special Project Office, had somehow managed to secure office accommodation, gain access to public servants, open bank accounts and even wriggle its way into the 2026 national budget, all without any legitimate presidential authorisation.
The discovery was not accidental. It emerged from the ICPC’s dogged investigation into the earlier scandal involving the fake Presidential Foreign Intervention Promotion Council, an outfit promoted by one Adeniyi Adeyemi Matthew that had similarly infiltrated government structures before Aliyu’s team blew the lid off it. Following his Friday briefing to President Bola Ahmed Tinubu, the President ordered the immediate arrest of George Buchi Nwabueze, identified as the man behind the new fake agency, and directed the suspension of three permanent secretaries in the OSGF: M.S. Danjuma, Nandungu Gagare and Richard Pheelangwah, over the circumstances that allowed the fraudulent office to thrive under their watch. Investigators further found that the outfit had built an elaborate structure complete with an executive director, zonal directors, state coordinators and even foreign representatives, a level of sophistication that speaks to how deeply corruption can burrow into government machinery when vigilance slips.
The ICPC did not stop at exposing the fraud. It went further to indict the Budget Office of the Federation for negligence, establishing that officials had processed and onboarded the phantom council into the 2026 Appropriation Act despite glaring gaps in its documentation, relying instead on informal engagements and unverified scanned approvals rather than due diligence. It was a sobering reminder that corruption does not always announce itself with the theft of physical cash; sometimes it hides in the quiet failures of institutional process, waiting for a vigilant commission to catch what ordinary oversight missed.
This latest exposure is only the newest chapter in what has been a remarkably consistent record for Aliyu since he took the reins as the Commission’s fifth substantive chairman. In his first year alone, he reported cash recoveries of nearly ₦30 billion domiciled in ICPC recovery accounts, alongside almost ₦11 billion recovered as Value Added Tax and remitted to the Federal Inland Revenue Service, and ₦10 billion clawed back from the COVID-19 vaccine fund and returned to the treasury. Forfeited assets in that period alone were valued at ₦2.5 billion plus close to a million dollars in foreign currency.
The momentum has not slackened. By 2024, the Commission had recovered more than ₦20 billion in cash and properties from corrupt individuals. The following year proved even more fruitful: 2025 closed with the ICPC announcing recoveries of ₦37.44 billion and over $2.35 million through asset seizures and forfeitures, one of its most significant annual hauls since the Commission’s founding. That year also saw the agency investigate 263 cases against a target of 250, file 61 cases in court, and secure a conviction rate of 55.74 percent, including the notable jailing of a University of Calabar professor for abuse of office.
Beyond the courtroom victories and cash recoveries, Aliyu has placed heavy emphasis on tracking public infrastructure spending through the Commission’s Constituency and Executive Projects Tracking Initiative. As of the middle of this year, that initiative had tracked over four thousand five hundred public projects worth more than ₦22.5 trillion nationwide between 2023 and June 2026, recovering stalled projects valued at over ₦507 billion and generating an estimated ₦385.6 billion in savings for government coffers. Separately, the Commission has pointed to recoveries exceeding ₦130 billion drawn from public projects worth more than ₦35 trillion, alongside court-ordered forfeitures including properties worth over ₦5 billion tied to the Federal Mortgage Bank of Nigeria and nearly ₦942 million recovered from a 2024 payroll fraud scheme.
Taken together, the figures tell a story of an anti-corruption agency that, under Aliyu’s watch, has shifted from mere rhetoric to measurable results, running into hundreds of billions of naira reclaimed, saved or redirected back into the Nigerian treasury. Yet the chairman himself has been candid that the fight is far from over. He has repeatedly appealed to the National Assembly for improved funding, warning that inadequate resources continue to hamper the Commission’s manpower, logistics and operational capacity, even as staff morale suffers under the weight of high-risk investigative work. He has also pushed back firmly against suggestions that the Commission is being weaponised for political witch-hunting, insisting that its work is driven strictly by evidence and due process rather than political considerations.
If the recent unmasking of yet another ghost agency within the corridors of government is any indication, Nigerians can expect the ICPC under Musa Aliyu to keep peeling back the layers of institutional rot, one budget line, one phantom office, and one recovered billion at a time.

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Zulum @57: Tribute to a Trailblazing Teacher.

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By: Inuwa Bwala.
I have read a lot of tributes to Borno state Governor, Professor Babagana Umara Zulum on his 57th birthday anniversary.
In most, Nigerians celebrate many things about Professor Babagana Umara Zulum.
To many, his unique leadership style, to others, his developmental strides and yet to others his many ventures into danger zones, the rebuilding of schools, his sleepless nights on duty and many other things.
I want to celebrate something quieter, and maybe more rare: seeing him as the teacher that he is, using
Borno as a big lecture hall, in which he deploys his teaching technique.
I dare say that, Governor Zulum goes to schools unannounced, not for photo shots, but to check attendance, to ask pupils questions, to see if the teacher is teaching. That is a lecturer’s habit.
He commissions hospitals and ask about drug inventory and rosters. That is a supervisor’s habit.
He stands in the rain with displaced families, not to make a speech, but to take notes. That is a researcher’s habit.
Most politicians campaign on promises, but he he is not seeking any position and does not need to campaign. He does things out of passion for true development.
At 57, Zulum reminds me that leadership is not about sitting in the office of power. It’s about sitting on the floor with students, under a tree with farmers, and in the dust with people who have lost everything, and then going back to “prepare the next lesson plan” for Borno redemption.
People often say a leader must choose between the office and the field, the book and the gun, and between the seminar and the street. Governor Zulum seems to have broken that rule by chosing both. And ir is working for Borno.
For me, today, I do not just celebrate a governor turning 57, I celebrate a teacher who took his entire state as his assignment, and refused to submit it half-done.
As the only Governor in Nigeria, who foes not aspire for any other political office after this, he may be retiring into a future only God know about, but one must not fail to state, that, Governor Zulum’s strength lies, not in the paraphenilia of governance but in the dedication of a leader who work, teach to graduate Borno into peace, dignity, and pride.
Happy 57th Birthday, Proffessor Babagana Umara Zulum.

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