Connect with us

news

House of Fraud : Buhari’s Supporters To Stage 7-day Protest Against Central Bank Governor, Emefiele Over E-Naira, Bad Economy and N500Billion Scandal

Published

on

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

news

AFAN Calls on FG to Revive MAGS-AP, Seeks Affordable Farm Inputs for Nigerian Farmers

Published

on

The All Farmers Association of Nigeria (AFAN) has called on the Federal Government to urgently restore the National Agricultural Growth Scheme and Agro-Pocket (NAGS-AP) programme to improve farmers’ access to affordable agricultural inputs and strengthen food production across the country.

The association said the revival of the programme would provide farmers with better access to essential agricultural inputs, including fertilisers, improved seeds and other farm support services required to boost productivity and ensure food security.

AFAN noted that the rising cost of agricultural inputs has continued to place enormous pressure on farmers, particularly smallholder farmers, who play a critical role in Nigeria’s agricultural value chain.

According to the association, restoring the programme would help reduce the financial burden on farmers, encourage increased participation in agricultural production and support the Federal Government’s efforts to achieve food security under its agricultural transformation agenda.

The association further stressed that affordable and timely access to farm inputs remains essential to improving crop yields, expanding agricultural activities and making farming more attractive to young Nigerians.

AFAN also urged the Federal Government to strengthen collaboration with relevant agricultural institutions, state governments, financial institutions and private-sector stakeholders to ensure that farmers benefit directly from government intervention programmes.

It maintained that a sustainable agricultural sector requires consistent policies, adequate funding and effective implementation of programmes designed to support farmers at every stage of production.

The association expressed optimism that restoring NAGS-AP would contribute significantly to increased food production, job creation, rural economic development and the stabilisation of food prices across the country.

AFAN therefore appealed to the Federal Government to give the programme urgent attention as part of broader efforts to strengthen Nigeria’s agricultural sector and achieve sustainable food security.

Continue Reading

news

Zamfara Signs MoU with REA, Stakeholders to Boost Renewable Energy

Published

on

…….Tegbe, REA MD Commend Lawal as Zamfara Unveils Electricity Policy today

The Minister of Power, Chief Joseph Olasunkanmi Tegbe, and the Managing Director/Chief Executive Officer of the Rural Electrification Agency (REA), Dr. Abba Abubakar Aliyu, have joined the Zamfara State Governor, Dauda Lawal, to launch the state’s Electricity Policy and inaugurate renewable energy projects aimed at enhancing electricity supply across the state.

The event, held on Wednesday, November 4, 2026, in Zamfara State, was themed “Enhancing Power Supply” and attracted key stakeholders in the electricity and renewable energy sectors.

A major highlight of the occasion was the signing of a Memorandum of Understanding (MoU) between the Zamfara State Government, the Rural Electrification Agency and other stakeholders, in the presence of the Minister of Power, to strengthen collaboration and accelerate the development of renewable energy infrastructure in the state.

Speaking at the event, Tegbe and the REA Managing Director emphasised the importance of renewable energy, particularly solar power generation, as a sustainable solution to the country’s electricity challenges.

They highlighted the need to harness Zamfara State’s abundant solar energy potential to expand electricity access, strengthen power generation capacity and provide reliable and affordable electricity to residents, businesses and industries.

The officials also commended Governor Dauda Lawal for his commitment and initiative towards developing solar-powered electricity infrastructure, describing the state’s efforts as a significant step towards achieving sustainable energy development and improving the living conditions of the people.

They further highlighted the ambition to upgrade solar power generation capacity to 200 megawatts (MW), noting that increased investment in renewable energy would contribute significantly to the state’s economic growth and development.

The Minister and the REA Managing Director also stressed the importance of collaboration between federal and state governments, development partners and private-sector investors in achieving sustainable electricity supply.

The launch of the Zamfara State Electricity Policy, alongside the inauguration of renewable energy projects and the signing of the MoU, represents a significant step in the state’s efforts to strengthen its electricity sector and embrace cleaner and more sustainable energy sources.

The initiative is expected to improve electricity access, stimulate commercial and industrial activities, attract investment, create employment opportunities and support socio-economic development across Zamfara State.

The development also aligns with the Federal Government’s commitment to expanding electricity access and accelerating Nigeria’s transition towards sustainable and renewable energy.

Continue Reading

news

Nigeria Moves Closer to State Police as National Assembly Prepares Bill for Tinubu

Published

on

The National Assembly has commenced “administrative processes” to transmit the proposed State Police Bill to President Bola Ahmed Tinubu for assent.

This followed the National Assembly’s receipt of reports of the Bill’s approval by 28 State Houses of Assembly across the country.

The Clerk to the National Assembly, Kamoru Ogunlana, disclosed this in a statement on Tuesday in Abuja.

Ogunlana said the number of state legislatures that had approved the constitutional amendment exceeded the constitutionally prescribed threshold of 24 states.

On the next stage of the process, the Clerk said the necessary administrative arrangements were being made to facilitate the transmission of the bill to President Tinubu for assent in accordance with the Acts Authentication Act.

“In view of the approvals secured from the required number of State Houses of Assembly, the necessary administrative processes are being undertaken to facilitate the transmission of the Bill to His Excellency, the President of the Federal Republic of Nigeria, for assent,” the statement added. NigerianNews Updates

The bill, which seeks to amend the 1999 Constitution to provide for the establishment of State Police Services and related matters, was transmitted to the 36 State Houses of Assembly on September 16, 2026, for consideration and approval.

Ogunlana said the 28 state approvals represented more than the two-thirds majority required under Section 9 of the Constitution for a constitutional alteration.

The statement explained that the state legislatures were initially requested to communicate their decisions to the National Assembly within 30 days, with the deadline expiring on October 15, 2026.

However, the Clerk clarified that his office would continue to receive reports from state assemblies beyond the deadline until the bill was transmitted for presidential assent.

“The stipulated period elapsed on 15 October 2026, but my Office shall continue to accept reports from the State Houses of Assembly until the bill is transmitted for assent,” Ogunlana stated.

He said the Office of the Clerk had received and verified reports from 28 state legislatures, confirming that they had approved the proposed constitutional amendment.

According to him, the number exceeded the constitutionally required minimum of 24 state assemblies, representing two-thirds of the 36 states of the federation.

The statement further disclosed that the Office of the Clerk had conducted administrative verification of the reports and accompanying Votes and Proceedings to establish their authenticity and ensure that they accurately reflected the decisions of the respective state legislatures.

“The Office has also undertaken the necessary administrative verification of the reports and accompanying Votes and Proceedings to establish their authenticity and ensure that the records accurately reflect the decisions taken by the respective State Houses of Assembly,” he said.

Ogunlana also clarified the legislative procedure for constitutional alteration bills, noting that Section 9 of the Constitution does not expressly require a Third Reading, unlike the procedure applicable to ordinary bills.

“It is pertinent to clarify that Section 9 of the Constitution does not expressly prescribe a Third Reading for a Constitution Alteration Bill, unlike the procedure applicable to ordinary Bills,” he stated.

The proposed amendment is expected to provide the constitutional framework for the establishment of state police services, allowing individual states to operate police formations within their jurisdictions under the provisions of the amended Constitution.

The proposal has featured prominently in national discussions on security sector reforms, particularly amid concerns over insecurity, including kidnapping, banditry, terrorism and other criminal activities across different parts of the country.

The National Assembly said the approval process reflected the cooperation of the state legislatures in considering the constitutional amendment.

“The National Assembly appreciates the cooperation and timely response of the State Houses of Assembly in the consideration of this important constitutional amendment, which represents a significant step in the ongoing efforts to strengthen Nigeria’s security architecture and deepen the country’s federal system,” Ogunlana said.

He assured Nigerians that the Office of the Clerk would continue to provide timely and accurate information on developments relating to the constitutional amendment process.

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved