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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.
Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising his leadership style and the series of reforms that have shaped the country’s direction since he assumed office.
In a statement issued on Saturday, Araraume described the President as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that Tinubu’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long-term national development.
Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long-standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.
He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.
Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long-term vision for a more productive Nigeria.
The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programmes aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.
On the diplomatic front, Araraume praised Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.
“As we celebrate this milestone, it is important to recognise the resilience and determination with which President Tinubu has approached the task of nation-building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”
He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”
The All Progressives Congress has confirmed that it plans to adopt a consensus approach for selecting its national leadership during the party’s convention scheduled for March 27–28, 2026, in Abuja.
The Assistant Secretary for Media and Publicity for the APC National Convention 2026, Mary Ikoku, disclosed the plan during an interview on Channels Television’s Sunrise Daily on Wednesday.
On the issue of elective positions during primaries, Ikoku said the party had not yet decided how these would be handled, noting that decisions may vary depending on local political dynamics.
She explained, “APC, for this convention, I am aware and can say that the party is adopting consensus for this convention. As to whether they are adopting consensus for elective positions, I do not have an answer to that because politics is local.
“So, I believe that, at the end of the day, when it comes to the issue of elective positions, the persons who would emerge aren’t often what you would want to make consensus in every space.”
Ikoku also addressed the Electoral Act’s provisions, which require political parties to register members online within a specified timeframe and outline acceptable methods for candidate selection.
She said these requirements posed challenges for some parties but reflected preparedness—or the lack thereof.
“We have an electoral law that defines the models for these elections. Direct primaries and consensus have been allowed, while indirect primaries have been taken out.
“That is the current law of the nation, passed and assented to. Now, why do you think other political parties will have issues with that?” she asked.
“That would be to say there are levels of unpreparedness of these political parties. Any political party that is worth its salt should not wait till election season to start preparing for the run for office and all of these congresses.
“It is something they would have planned ahead of time. So, when you are not proactive as a party, these kinds of situations can challenge you deeply,” she added.
Ahead of the convention, the party began screening aspirants for key positions in its National Working Committee , including National Chairman aspirant Nentawe Yilwatda and National Secretary hopeful Ajibola Basiru.
Other NWC members seeking to retain their posts include National Youth Leader Dayo Israel, Deputy National Chairman (North) Ali Bukar Dalori, National Legal Adviser Abdulkarim Abubakar Kana, National Woman Leader Mary Alile Idele, and National Publicity Secretary Felix Morka, among others.
Security presence surged around the Federal High Court in Kaduna on Tuesday as operatives from multiple agencies were deployed ahead of the arraignment of former Kaduna State Governor, Nasir El-Rufai, over alleged corruption-related offences.
By about 7:00 a.m., heavily armed personnel of the Department of State Services, Nigeria Police Force, Mobile Police Force, and Nigeria Security and Civil Defence Corps had taken positions at strategic locations leading to the court complex situated within the old Nigerian Defence Academy area.
Access roads to the venue witnessed restrictions, forcing vehicles into a single lane from the Ungwan Sarki axis through Kawo and triggering early morning gridlock.
The heavy security followed a prior notice by the Independent Corrupt Practices and Other Related Offences Commission that it would arraign El-Rufai on Tuesday, March 24, 2026, before the Federal High Court sitting in Kaduna.
In a statement issued by its Head of Media and Public Communications, John Odey, the commission said the former governor would be docked alongside one Joel Adoga in suit number FHC/KD/73/2026.
The agency explained that the charges against the defendants include alleged conversion, unlawful possession of public property, and money laundering.
“The Independent Corrupt Practices and Other Related Offences Commission is set to arraign the former Governor of Kaduna State, Malam Nasir El-Rufa’i, and one Joel Adoga at the Federal High Court of Nigeria in the Kaduna Judicial Division on Tuesday, March 24, 2026. The charges range from conversion of and possession of public property to money laundering,” the statement read.
It further disclosed that another case, marked KDH/KAD/ICPC/01/26, had been instituted against El-Rufai and one Amadu Sule before a Kaduna State High Court.
According to the commission, the state charges border on abuse of office, fraud, intent to commit fraud, and conferring undue advantage.
“Similarly, another charge against Malam Nasir El-Rufa’i and one Amadu Sule has been filed before a Kaduna State High Court in the Kaduna Judicial Division. The charges range from abuse of office and fraud to intent to commit fraud and conferring undue advantage, among others,” the statement added.
The ICPC said both cases were filed on March 18, 2026, adding that a date for arraignment in the state court would be announced later.
It also insisted that El-Rufai had been properly served, stressing its adherence to due process and the rule of law.
The development came amid growing pressure from stakeholders, including the African Democratic Congress, which called for his immediate release or arraignment, describing his continued detention without formal charges as unconstitutional.
In the same vein, the Muslim Rights Concern criticised his prolonged detention, while members of his family also alleged a breach of his fundamental rights.
El-Rufai was first arrested by the Economic and Financial Crimes Commission on February 16, 2026, granted bail two days later, and subsequently re-arrested by the ICPC.
He has remained in the custody of the anti-graft agency since then, pending his arraignment.
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