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2023 : CBN Governor, Emefiele’s acquired party nomination forms and newly bought fleet of vehicles for his campaign, provokes questions from Nigerians

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Governor of the Central Bank of Nigeria, Godwin Emefiele, sent millions of tongues wagging with his decision to purchase the N100 million presidential nomination form of the All Progressives’ Congress (APC) in the build-up to the party’s primary election in June last year. It later emerged that the CBN governor had not only acquired the party’s nomination forms but had also bought a fleet of vehicles for his campaign.

As things turned out, however, Emefiele had to give up on the idea of contesting the presidential election due mainly to the public outrage against the idea. The fact remains, however, that the dust raised by that move is yet to settle with the deluge of questions that are left unanswered.

Where are the vehicles now? Who supplied them? How true is the claim that some of the vehicles are now with the campaign organization of a presidential candidate through a governor that is very close to the CBN governor? What does that suggest? A chummy relationship between the said presidential candidate and Emefiele? How neutral is the CBN governor

Since his foray into politics exemplified by his failed presidential bid, how much time does he have for monetary matters which constitute the core mandate of the CBN? How has he fared on this assignment? What was the rate of inflation before he assumed office and what is it now? What was the exchange rate before he assumed office and now? What was the country’s foreign reserve then and now? What has become of his rice pyramids?

Earlier in the week, he compounded failure with insensitivity, describing the millions of Nigerians on queues at ATM points around the country as miscreants who had no need for cash but were only there to sell their turns for some others in dire need of cash. Really?

There is an adage to the effect that when a leaf stays too long on a bar of soap, the leaf itself would turn into soap. That seemed to be the case with the relationship between President Muhammadu Buhari and the Central Bank Governor Godwin Emefiele. The latter appears to have rubbed mind so much with the former that he has caught the spirit of a soldier

Since the scarcity of notes and consequent agitation provoked by the naira redesigning policy, Emefiele, a finance man, has elected to speak like a soldier and issue threats on a daily basis rather than speak with facts and figures. Because he takes orders from a soldier, he now thinks and acts as one; no longer as a sober, shrewd, reflective and analytical financial expert.

Consequent on the foregoing, everything about naira redesigning, a poorly implemented policy that has shaken the nation to its foundation in recent weeks, has been opaque. In his broadcast to the nation on Thursday, Buhari had admitted that he approved the policy. But from every indication, it was a unilateral decision on the part of the President, and that much came to light when the Minister of Finance declared on national television that she had no knowledge of it.

Was the policy debated by the Federal Executive Council? No. So who did the President discuss the idea with apart from Emefiele? We may never know. Like President Buhari, Emefiele is keeping everything to himself. He would not disclose how much of the new notes have been printed or the breakdown of the total N2.1 trillion that has been returned to the banks. Buhari directed that the N200 notes already collected from the public should be re-circulated. But what is the value? Emefiele does not think we should know.

Kaduna State Governor Nasir el-Rufai, says the amount in question will not solve the problem of naira scarcity, noting that over N2 trillion was withdrawn while only N400 billion had been printed as at February. But rather than debunk the governor’s claims with facts and figures, Emefiele is asking security agents to go after POS operators. He forgot his elementary economics that this is what you get in times of scarcity.

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BREAKING: PDP Convention Crisis Deepens as Appeal Court Backs Order Against INEC Recognition

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…dismisses appeal, awards N2m cost against party

The Court of Appeal in Abuja has dismissed an appeal by the Peoples Democratic Party (PDP) against the October 31 judgment by Justice James Omotosho of the Federal High Court in Abuja restraining the Independent National Electoral Commission (INEC) from recognising the outcome of the national convention planned for Ibadan, Oyo State on November 15 and 16 by the PDP.

In a unanimous judgment on Monday, a three-member panel of the appellate court resolved the four issues for determination against the PDP.

It held that the appeal by the PDP was without merit and that the Federal High Court was right to have entered the October 31 judgment and granted all the reliefs sought by the plaintiffs.

The Court of Appeal faulted the PDP’s claim that the trial court lacked jurisdiction to have heard the case on the grounds that issues involved were solely internal affairs of the party.

The court also held that the plaintiffs had the locus standi to have institutes the suit to protect their democratic rights and that the PDP was not denied fair hearing as it claimed in its appeal.

The court awarded N2million cost against the PDP for filing a frivolous appeal.

The court is yet to render its decisions in the remaining eight appeals, which include judgment and rulings

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Opeifa Defends Rail Reforms, Unveils Nationwide Expansion Roadmap

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Opeifa maintained that derailments are not peculiar to Nigeria, noting that such incidents occur across advanced rail systems globally.

“Derailments are regular occurrences in the rail sector worldwide. In February alone, there were incidents in countries like Britain and others. Around the same time we experienced one, there were multiple derailments across the world,” he said.

He disclosed that in 2025, Nigeria recorded three major derailments:
• August 26 at Asham in Kaduna State
• November 1 at Abraka on the Warri–Itakpe line
• November 8 at Agbor on the same corridor

He said the NRC responded swiftly, restoring services within 24 hours in one case, while others were resolved within 21 and 28 days respectively.

Opeifa stressed that derailments can result from factors such as weather conditions, signal glitches, human error, speeding, or aging infrastructure, but noted that in Nigeria’s recent cases, there were no fatalities.

“These incidents are preventable and efforts are ongoing to minimize them. However, they should not be seen as major setbacks to the overall progress of the railway system,” he said.

On Allegations of Mismanagement

Addressing allegations of financial mismanagement within the corporation, Opeifa declined detailed comments, citing ongoing legal processes.

“When a matter is in court, it is sub judice. Allegations of corruption or mismanagement should be handled by the appropriate authorities,” he stated.

He reiterated that his priority is to reposition the NRC in line with global best practices and ensure efficient rail services for Nigerians.

Expansion, Upgrades and National Connectivity

The NRC boss said efforts are underway to restore damaged coaches and upgrade infrastructure using local engineers and technicians.

“We are bringing back the lines and retrofitting coaches. The Warri–Itakpe line is operational. The Abuja–Kaduna line is running, and we are increasing trips from two to three,” he said.

On long-term plans, Opeifa disclosed that the NRC roadmap envisions rail connectivity across major cities nationwide, subject to funding and phased execution.

He dismissed claims of abandoned projects, explaining that rail developments are capital-intensive and implemented in phases based on available resources.

He cited progress on the Lagos–Ibadan corridor—part of the larger Lagos–Kano project—as well as ongoing work on the Kano–Maradi line linking key northern cities.

Lagos–South-East, Port Connections in View

Opeifa also highlighted plans to expand connectivity between southern ports and inland cities. These include proposed links from Warri to Abuja and from Lekki Deep Sea Port to Kajola, Benin, Onitsha, and Aba, enabling both passenger and cargo movement.

Toward Modern Signaling and Faster Trains

On modernization, he said Nigeria is gradually upgrading from older narrow-gauge systems to standard-gauge infrastructure with improved signaling technology.

He noted that metro rail projects in Kaduna, Kano, and Lagos are being developed with higher signaling standards, positioning the country for faster and more efficient train services in the coming years.

“We are not yet at the highest global level, but we are moving steadily upward,” Opeifa said.

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Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa

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A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa

The renewed confidence in the rail line linking Lagos and  is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.

“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”

A Line Once Hindered by Middlemen

The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.

However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.

Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”

Enforcement and Digitisation

Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.

Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.

For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.

Changing Urban Dynamics

Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.

“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”

Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.

The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.

For now, passengers remain cautiously optimistic.

“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”

Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.

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