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House of Fraud : Buhari’s Supporters To Stage 7-day Protest Against Central Bank Governor, Emefiele Over E-Naira, Bad Economy and N500Billion Scandal
A pro-Muhammadu Buhari group, Nigeria First Movement has called for the resignation or sacking of the governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele.
According to the supporters of the President, doing so will save the nation from further economic meltdown.
Group Coordinator, Augustine Richard in a statement said the latest introduction and subsequent launch of the digital currency, eNaira by Emefiele is the “final nail in the country’s already doomed economy.”
Since the release of the eNaira, the app has received negative reviews from Nigerians, who were disappointed with the tedious registration processes as part of the requirements.
The group also urged the CBN Governor to resign over his alleged inability to stabilise the country’s bleeding economy.
It threatened to mobilise over 200 other pro-Buhari groups across the globe for a ‘mother of all protests’ that would hold simultaneously in Abuja, Lagos and London, UK against Nigeria’s poor economic posture if Emefiele failed to resign or get sacked.
“Emefiele may have made history as the only governor to be re-appointed for a second term in office since the nation’s return to a democratic rule, however, he is best known for surrendering much of the bank’s independence, running a monetary policy that had record negative impact on the economy,” Richard said.
“The introduction and subsequent launch of the digital currency, eNaira, is perceived as the final nail in the country’s already doomed economy.
“We are ready to champion the call for Emefiele’s removal by staging a one-week protest that could potentially cripple economic activities in Abuja. We’re also ready to mobilise over 200 other pro-Buhari groups across the globe in the ‘mother of all protests’ that would hold simultaneously in Abuja, Lagos and London against the nation’s poor economic posture.
“Emiefele played a pivotal role in the collapse of the economy since his appointment as the CBN chief and before his arrival, the economy was said to be one of the fastest growing in the world. Shortly after his reappointment in 2019, Emefiele announced a five-year plan that targets double-digit growth in one of Africa’s largest economies.
“His approach to policy implementation, however, has left many in doubt, raising questions on how his key policy move, especially in the context of management of the exchange rate, benefits the economy, and the naira he sought to protect.
“On July 24, 2020, the CBN launched a series of non-intrant loan schemes under the AGSMEIS, MSMEDF, AADF and other loan schemes. The program attracted a lot of Nigerians, with millions of them seeking to join the program through all due process. For more than a year now, nothing has been done. The CBN under Emefile has shirked its primary responsibility of ensuring price stability and has embraced a more developmental role, in the hopes of naira stability.
“As confirmed by the Chairman of the House of Representatives Committee on Finance, Rt. Hon. James Faleke, the CBN has failed to submit its Audited Account to the Office of the Auditor General (OAGF) for review, from 2010 to date.
“According to Kalu Ajah, chief executive officer at AfriSwiss Capital Assets Management Limited in Abuja, the CBN has pursued a strong naira policy and had sought to dampen imports. Well, imports have not declined and the naira is far from strong. One wonders if the import restrictions on items and capital controls were necessary or if the CBN should have devalued the naira earlier. I will say Nigeria did not benefit from the capital controls regime.
“The regulatory bank’s aggressive lending policy has been called into question as well, causing some concerns over the bank chief’s stewardship of the banking sector. The CBN is forcing banks to lend, and penalising non-lenders. These are shareholders funds being deployed via fiat.
“In October last year, the Central Bank fined 12 banks, including Citibank, First Bank of Nigeria, Guaranty Trust Bank, and Standard Chartered Bank N499 billion for failing to meet lending targets. It is another move that attracted criticism across the board.”
Richard added that the N500 billion which was stolen in a private Dubai investment towards the end of 2018 should be investigated by the President as well as other funds that went missing during Emefiele’s administration.
Our correspondent had in May 2019 made public a phone conversation of Emefiele; his deputy, Edward Lametek Adamu; Director for Finance, Dayo M. Arowosegbe and one of the Special Advisers to the CBN Governor, Emmanuel Ukeje discussing how to cover up the loss of over N500 billion stolen from the CBN in a private investment that collapsed.
CAUGHT ON TAPE some years back: CBN Gov Emefiele And Top Officials Discuss How To Cover-Up N500bn They Stole -Part1
CAUGHT ON TAPE: How Central Bank Governor Emefiele, Deputy Adamu And Top Officials Discussed How To Cover-Up N500bn Which They Stole From The CBN.
Two audio files, exclusively obtained by our correspondent revealed how the governor and top officials of the apex bank discussed plots to conceal the loss of huge sums of money in a Dubai investment.
The CBN claimed the audio conversation was genuine but no money was missing from the bank.
Isaac Okoroafor, the then Director of Corporate Communications had said: “The selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolve it. Obviously, it soon became clear that a state government’s loan cannot be classified as ‘bad’ or ‘irrecoverable’ when the state still exists and getting FAAC allocations.”
However, in a petition written by Emefiele to the Inspector General of Police, he confirmed that the audio was authentic and this time raised the alarm that his phone had been bugged and that there was a breach of security at the apex bank.
He also asked the Inspector General of Police to investigate the audio lea.
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No More Delays’ — Senate Leader Confirms State Police Bill Passage This Week
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The National Assembly is set to pass the constitutional amendment bill establishing state police this week, Senate Leader Opeyemi Bamidele has disclosed, describing the reform as long overdue in view of Nigeria’s worsening security challenges.
Speaking in an interview with journalists, the lawmaker representing Ekiti Central Senatorial District said the National Assembly had concluded consultations with key stakeholders and was ready to fast-track the amendment process.
According to him, the amendment would be separated from the broader constitutional review exercise to ensure speedy passage and transmission to the 36 state Houses of Assembly for ratification.
“A cross-section of Nigerians has made it abundantly clear that there cannot be a better time to establish state police than now. We have reached a firm conclusion that we will pass the constitutional amendment to make provision for state police, and this will come to fruition this week,” Bamidele said.
He disclosed that consultations had involved the National Assembly leadership, the Attorney-General of the Federation, the Chief of Staff to the President, the Inspector-General of Police and other critical stakeholders.
The Senate Leader also revealed that President Bola Tinubu and a majority of state governors support the proposal, expressing confidence that the required approval from two-thirds of state assemblies would be secured.
On the controversy surrounding calls for a probe into military spending amid rising insecurity, Bamidele defended the Senate’s decision to reject the motion, insisting that placing the armed forces under public scrutiny while they are actively engaged in counter-terrorism operations would be counterproductive.
He said the military was confronting an unconventional enemy and had continued to make sacrifices in the fight against terrorism despite difficult circumstances.
“We cannot put our military on trial in the middle of a war. Accountability mechanisms already exist through the Senate Committees on Defence, Army, Navy and Air Force, which carry out oversight responsibilities,” he stated.
Bamidele argued that significant progress was being made against insurgents, adding that recent attacks by terrorists reflected desperation arising from heavy losses suffered during military operations.
The Senate Leader also dismissed claims that the 10th National Assembly had become a “rubber stamp” of the Executive, saying lawmakers had consistently engaged the Presidency behind closed doors to resolve disagreements before bills reached the floor.
According to him, constructive collaboration between the legislature and the executive should not be mistaken for weakness.
“We are not a rubber stamp Senate. We simply chose to resolve disagreements privately rather than perform them publicly,” he said.
On electoral reforms, Bamidele maintained that the Electoral Act should not be amended in the heat of political contests, stressing that any review should take place after elections and without retroactive effect.
He also reaffirmed his support for the publication of legislators’ salaries and allowances, saying greater transparency would help dispel public misconceptions about lawmakers’ earnings and benefits.
Regarding anti-kidnapping legislation, Bamidele disclosed that the proposed Anti-Terrorism Bill and measures prescribing the death penalty for convicted kidnappers remain on course and would be concluded alongside related constitutional amendments.
Reflecting on the performance of the 10th Senate, he identified the controversy surrounding the suspension of a senator and allegations of gender insensitivity as one of the institution’s lowest moments.
However, he highlighted several legislative achievements, including tax reforms, the student loan scheme, and the establishment of new federal tertiary institutions across the country.
Bamidele expressed optimism that the Senate’s reforms, particularly the state police initiative and tax legislation, would strengthen national security, deepen democratic governance and provide long-term economic benefits for Nigerians.
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FG Accelerates Contractor Payments, Clears Over 1,240 Claims Below N100 Million
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The Federal Ministry of Finance says it has approved the payment of more than 1,240 contractors across ministries, departments and agencies (MDAs) following a verification and reconciliation exercise on outstanding obligations.
In a statement on Monday, Mary-Ann Duke, Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, said the exercise was carried out to confirm valid claims and streamline payments.
According to her, contractors with verified claims of N100 million and below were given priority in the latest disbursement.
“The Federal Ministry of Finance has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations,” the statement reads.
The ministry said the payments are aimed at easing financial pressure on indigenous firms, particularly small and medium-scale enterprises (SMEs), enabling them to return to project sites, settle workers’ wages, and pay suppliers.
“Contractors prioritised for payment in the most recent batch are those with verified claims in the region of N100 million or less,” Duke said.
It added that more than N700 billion in verified obligations owed to local contractors has been processed in recent months.
The statement noted that about N436.6 billion was processed in May alone, describing it as a sharp increase in payment activity designed to improve liquidity and support economic recovery.
The ministry said prioritising smaller contractors was intended to widen the reach of payments across sectors and regions while sustaining jobs and ensuring the completion of ongoing projects.
It also said the latest disbursement would strengthen confidence among contractors, suppliers, and service providers working with the government.
In January, aggrieved contractors blocked access to the Ministry of Finance, preventing former Minister of State for Finance, Doris Uzoka-Anite, from entering the premises.
Six months later, the Senate set up a committee to engage the ministry over outstanding contractor debts.
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Shettima, Akume Set for Landmark Nigeria–Poland Football Watch Party; Polish Ambassador Praises Preparations — Adeboye
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Preparations have reached an advanced stage for the historic Nigeria–Poland Football Watch Party in Abuja, with the Ambassador of Poland to Nigeria, His Excellency Michal Cygan, inspecting the venue ahead of the event, while Vice President Senator Kashim Shettima, GCON, and Secretary to the Government of the Federation (SGF), Senator George Akume, CON, have officially confirmed their participation.
The landmark event, scheduled for Wednesday, June 3, 2026, at the VIP Lounge of the Moshood Abiola National Stadium, Abuja, is being organized by the Office of the Senior Special Assistant to the President on Grassroots Sports Development, Hon. Adeyinka Anthony Adeboye, in collaboration with the Polish Embassy in Abuja.
During an inspection visit to the venue, Ambassador Cygan met with Hon. Adeboye and members of the organizing committee to assess preparations and inspect facilities ahead of the highly anticipated football viewing experience, which is expected to attract diplomats, government officials, sports stakeholders, youth leaders, football enthusiasts, captains of industry, and members of the international community.
Expressing satisfaction with the level of preparation, the Polish envoy described the venue as a fitting location for an event designed to strengthen friendship and cooperation between Nigeria and Poland.
“I am very happy with the preparation and I truly love the venue. Everything looks ready for a wonderful event,” Ambassador Cygan said.
He noted that the watch party represents more than football, describing it as an opportunity to deepen friendship, cultural exchange, and cooperation between both nations.
“Tomorrow will be about friendship and unity. We are bringing together friends of Poland, members of the diplomatic community, sports stakeholders, and football lovers to celebrate the beautiful game and our growing relationship with Nigeria,” he added.
The ambassador further disclosed that several friends and partners of the Polish Embassy would attend the event, emphasizing the role of sports diplomacy in strengthening international relations and promoting youth engagement.
Adding further significance to the occasion, Vice President Kashim Shettima will attend as Chairman of the Day, while SGF Senator George Akume will serve as the Special Guest of Honour.
Speaking ahead of the event, Hon. Adeboye described their participation as a strong indication of the Federal Government’s commitment to sports development, youth empowerment, national unity, and international partnerships under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“The confirmation of the Vice President and the SGF clearly demonstrates the importance this administration places on sports—not merely as entertainment, but as a powerful tool for youth empowerment, diplomacy, peace-building, economic opportunities, and national development,” Adeboye said.
According to him, President Tinubu’s vision continues to prioritize young people through initiatives aimed at creating opportunities, promoting inclusion, and strengthening grassroots engagement across the country.
“Mr. President believes strongly in the potential of Nigerian youths and understands the transformative role sports can play in creating jobs, promoting unity, and projecting Nigeria positively on the global stage,” he added.
Adeboye also commended Vice President Shettima for his commitment to youth inclusion and national cohesion, noting that his presence would further inspire young Nigerians and stakeholders within the sports ecosystem.
He similarly praised Senator Akume for his continued support for developmental programmes that positively impact youths and strengthen national integration.
Describing the initiative as more than a football gathering, the SSA said the watch party is designed to serve as a strategic platform for friendship, cultural exchange, youth engagement, and bilateral cooperation.
“Football remains a universal language capable of bringing people together beyond borders, religion, and ethnicity. Through this event, we are strengthening relationships and creating a platform for unity, friendship, and international cooperation,” he said.
The initiative follows recent engagements between the SSA’s office and the Polish Embassy focused on grassroots sports development, youth empowerment, sports exchange programmes, and broader bilateral partnerships between Nigeria and Poland.
Guests are expected to begin arriving at 6:45 p.m., while kickoff for the Nigeria–Poland international friendly match is scheduled for 7:45 p.m.
With the attendance of Vice President Shettima, SGF Akume, senior government officials, diplomats, and key stakeholders now confirmed, anticipation continues to build for what many observers are describing as one of Abuja’s most significant sports diplomacy events of the year.
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