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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

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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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Ekiti APC: Controversy Trail Cyril Fasuyi’s Second-Term Ticket as Fayemi, Oyebanji Alliance Sparks Debate

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There are growing political discussions within the Ekiti State chapter of the All Progressives Congress (APC) following allegations surrounding the emergence of Senator Cyril Fasuyi for a second term ticket.

Some party members and political observers in the state have alleged that Governor Biodun Oyebanji and former Governor Dr. John Kayode Fayemi remain politically aligned despite public perceptions suggesting otherwise. According to the claims, the relationship between Governor Oyebanji and Fayemi remains cordial and influential in the state’s political structure.

Critics further alleged that Senator Cyril Fasuyi was advised to reconcile with Fayemi in order to secure support for his return bid, a move they claim eventually strengthened his chances of getting the ticket.

The development has reportedly generated concerns among some APC stakeholders, who believe certain political interests are working behind the scenes to shape the future direction of Ekiti politics ahead of upcoming political contests.

The allegations also claim that internal power struggles within the party may affect relationships with key figures at the national level, particularly supporters loyal to President Bola Ahmed Tinubu.

However, no official statement has been issued by Governor Oyebanji, Dr. Fayemi, or Senator Fasuyi regarding the allegations.

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Drama in Rivers APC as Fubara and Tonye Cole Step Down from Governorship Primary

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Rivers State Governor, Siminalayi Fubara, has announced his withdrawal from the All Progressives Congress governorship primary election in the state.

Fubara made this known in a statement personally signed on Wednesday, saying he would support whoever emerges as the party’s candidate, The Nations reported.

The governor said his decision followed extensive consultations with his family, friends, and political associates.

“After deep reflection and extensive consultations with my family, friends, and associates, I have taken the difficult but necessary decision to withdraw from the APC governorship primaries. I do so with a full heart and with a firm commitment to support whoever emerges as the candidate of our great party,” Fubara said.

The development comes amid ongoing political realignments ahead of the 2027 general elections in Rivers State.

Fubara said although the decision was difficult, he remained committed to supporting whoever would emerge as the APC governorship candidate.

According to him, leadership demands sacrifice and personal ambition must sometimes give way to the collective interest of the people.

“Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest,” he said.

Meanwhile, the embattled governor expressed appreciation to his supporters for their loyalty, prayers and sacrifices throughout the political process, acknowledging that many would feel disappointed by his withdrawal.

He said his silence in recent weeks was “deliberate and strategic,” adding that it was guided by the higher interest of the state.

Newsthumb had earlier reported that APC chieftain and 2027 governorship aspirant in Rivers State, Tonye Cole, also announced his withdrawal from the race, saying his decision was, among other reasons, in the interest of the party’s unity.

Fubara thanks Tinubu, dismisses cowardice
The governor hinted at undisclosed pressures surrounding the political process, saying: “As our elders say, not everything a hunter sees in the forest is spoken of in the marketplace.”

He added that some truths were best kept quietly “not out of fear, but out of wisdom and restraint for the sake of peace and a greater purpose.”

Fubara thanked the APC leadership for the opportunity given to him during the process and also expressed gratitude to President Bola Tinubu for his support and encouragement.

He urged party faithful to remain united and committed to the APC, describing the party as their “collective home.”

The governor, however, insisted that his withdrawal should not be interpreted as an act of weakness or surrender.

“I stepped aside not out of weakness, fear, or surrender, but out of conviction and sacrifice so that Rivers State may move forward in peace and unity,” he said.

Fubara also pledged to continue serving the people of Rivers State until the end of his tenure.

He further stated, “Leadership is ultimately about sacrifice. There comes a time when personal ambition must yield to the greater good of the people. Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest.

“To my supporters who stood firmly with me throughout this journey who gave their time, resources, prayers, and unwavering hope, I offer my deepest gratitude. I understand the disappointment, the anger, and the pain many of you may feel.

“Much has indeed been invested and much sacrificed along the way. But please know that your loyalty and trust were never in vain. My silence over this period was deliberate and strategic, guided always by the higher interest of our state and our people.”

Our correspondence earlier reported that Fubara rose politically under the administration of his predecessor and political godfather, Nyesom Wike, serving as Accountant-General of Rivers State before emerging as the PDP governorship candidate and winning the 2023 election with Wike’s backing.

Shortly after assuming office, however, the relationship between both men collapsed over control of the state’s political structure, appointments and finances, leading to a bitter power struggle involving the Rivers State House of Assembly led by Speaker Martin Amaewhule, who remained loyal to Wike.

The crisis escalated when 27 lawmakers attempted moves seen as targeting Fubara, while the governor’s camp questioned their legitimacy after alleged defections.

The Assembly complex was later demolished and governance became paralysed as both camps traded court actions and political attacks.

In March 2025, President Bola Tinubu declared a state of emergency in Rivers State, suspending Fubara, his deputy and all lawmakers for six months, citing political instability and threats to governance and oil infrastructure.

During the suspension, retired naval chief Ibok-Ete Ibas was appointed sole administrator.

Fubara was later reinstated after political negotiations reportedly brokered by Tinubu, with conditions said to include working with the Amaewhule-led Assembly, maintaining peace with Wike’s camp and shelving immediate political confrontation ahead of 2027, although some reported terms — including speculation about reelection concessions — remained unofficial.

The House of Assembly saga remained central to the crisis, with repeated disputes over budget presentation, impeachment threats and Supreme Court rulings affirming the Amaewhule faction as the recognised Assembly leadership.

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APC Primary Crisis Deepens in Osun as Aspirants Accuse Party Leadership of Imposition, Manipulation, and Delegate Exclusion

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The All Progressives Congress (APC) primary election held on Saturday, May 16, 2026, in Ife Federal Constituency has sparked widespread controversy, with aggrieved aspirants and party stakeholders alleging massive irregularities and manipulation during the exercise.

The aspirants accused certain party leaders of compromising the credibility of the primary process, alleging that the exercise was hijacked by desperate political actors allegedly working under the influence of the Osun State APC Chairman, Hon. Tajudeen Lawal, popularly known as “Sooko.”

According to reports gathered from several wards and local government areas within the constituency, many party members and stakeholders were allegedly denied the opportunity to participate in what was expected to be a transparent, free, and fair election. The aggrieved members described the exercise as a deliberate attempt to impose a preferred candidate against the collective will of delegates and party faithful.

Several stakeholders further alleged widespread intimidation, manipulation, and exclusion of recognized party members during the exercise, a development they said has generated tension and dissatisfaction within the party.

The aggrieved aspirants reportedly described the primary as a “scam,” alleging that results and figures were arbitrarily allocated to candidates by the party leadership.

They also alleged that incidents of violence and thuggery characterized parts of the exercise across Ife Federal Constituency, claiming that such developments have raised concerns over fairness, transparency, and internal democracy within the Osun APC.

Some party members further recalled a similar controversy during the May 27, 2022, APC primary election in the constituency, alleging that the same pattern of irregularities occurred during that exercise.

Meanwhile, the aspirants maintained that the outcome of the disputed primary election has yet to receive official recognition from the National Secretariat of the APC, as several petitions and complaints have reportedly been submitted over the conduct of the exercise.

They also noted that the Independent National Electoral Commission (INEC) has not officially validated the disputed process, thereby raising further questions regarding the legitimacy and credibility of the primary election.

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