Category: News

Enugu State Governor, Dr. Peter Mbah, has stated that his administration will strengthen the people’s faith in democracy by rewarding their votes with impactful and life-changing projects as outlined in his manifesto and social contract with them.

The Governor, while wishing the people of the state happy Democracy Day, noted that the state government would not rest until it achieves the promises of growing the economy exponentially, creating jobs, addressing insecurity as well as infrastructural deficits, and lifting people out of poverty, among others.

In a statement made available by his media office, Mbah said the state had made appreciable progress since the return of democracy in 1999, adding that his administration would double up efforts to fix the state and attend to the welfare of the people.

“Although, the history of our democratic sojourn has been chequered with challenges, yet the state is moving at an encouraging pace.

“Let me equally seize this opportunity to salute the people of Enugu State for their heroic feats and for keeping faith with us. It is through your overwhelming support that we are here today as your representatives. We will not let you down in the coming days and years.

“We are not unaware that you voted for us because of our promises to transform the state and give you those benefits of life as contained in our manifesto. We know you are already counting on the numbers of days remaining for water to run in the state. We want to reassure you that we are mindful of that. Water is definitely going to run within the stated time.

“Think of those dividends of democracy you could imagine. We are deliberate in our efforts to bring them to your doorsteps. Rest assured that your welfare is our utmost priority.

“We want to urge you to keep your support coming in this major partnership as we consolidate and count the gains of democracy in our clime. Be assured of our dedication and commitment to serve you by doing things differently,” parts of the statement read.

The leadership of the Labour Party has faulted the suspension of the Central Bank Governor, Godwin Emeifele, by President Bola Tinubu.

The opposition party described the President’s action as vindictive and unconstitutional.

Acting National Publicity Secretary of the party, Obiora Ifoh, said this in Abuja, on Saturday.

He said the Labour Party “Is disturbed by the decision of President Bola Ahmed Tinubu to suspend/sack the Governor of the Central Bank, Godwin Emefiele, albeit unconstitutionally without seeking the permission of the national assembly and we insist that the action was not in good taste and sounds punitive.

“Mr President has the right to ask the CBN governor to resign, same way, Nigerians have the right to ask him or anyone to resign.

“However, he does not have the powers to do so. Having a right is one thing, having the power is another. Many have asked Mr President to resign but lack the powers to compel him to do so,” Femi Gbajabiamila, The (then) minority leader of the House of Representatives, January 13, 2014

“Drawing inspiration from what Femi Gbajabiamila, then Minority Leader, had said years ago (as quoted above) over a similar situation when President Goodluck Jonathan sacked former CBN Governor, Sanusi Lamido Sanusi, wherein he questioned the powers of the President in sacking the CBN Governor.

“The opposition leader made it clear that the President lacks powers under the laws of the land to sack the CBN boss. One wonders what has changed between that time and now.

“Femi Gbajabiamila is the current Speaker of the House of Representatives and also holds the enviable portfolio as the Chief of Staff to President Tinubu.

“He had then argued that the law requires the President to seek the approval of two third of the Senate to be able to sack the CBN Governor.

“Reasons being essentially to enforce the doctrine of Checks and Balances and to avoid the abuse of powers of a capricious and arbitrary President, while at the same time guaranteeing the autonomy of the CBN.

“But under Gbajabiamila’s watch, Emefiele was fired in a most unconstitutional and vindictive manner.

“It is only in Nigeria that we find people that approbate and reprobate at the same time. People say one thing from one side of their mouth and another from the other side, especially when it favours them politically and otherwise.

“That explains why the country is in shamble: no rule of law, no equity, no justice, and no fair play. People don’t follow standard rules and procedures.

“That is why every aspect of our lives, be it our economic, political and social live, is challenged.

Because he was in the opposition at that time, Gbajabiamila saw everything wrong with President Jonathan sacking Sanusi, today, he is on the other side of the divide, he doesn’t see anything wrong with it.

“This is what Nigerians will face in the APC government, where perceived enemies are dealt with, perceive opposition parties and their members are dealt with, even when they are protected by the law.”

The LP Spokesman further said, “Most Nigerians will not forget in a hurry the famous Naira redesign policy initiated by Emefiele primarily to check vote buying in the last general election.

“A noble policy which a particular candidate then, unfortunately, believed was targeted at him. To him, it was a mortal sin which cannot be forgiven and must be punished. Labour Party believes that Emefiele, a fall guy, is paying for his “sin”.

“The government said the suspension of Emefiele is “sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”

Ifoh equally said, “It is laughable to read that statement as most Nigerians are already aware of the intention of the government.

“If indeed, there is any government agency that should be investigated with this utmost urgency, should it not be the Independent National Electoral Commission, INEC and its Chairman, Prof. Mahmood Yakubu?

“This is the institution that is responsible for the mockery of our democracy. This is an institution which asked and received N355 billion in taxpayers money to conduct, the worst-ever election in the history of Nigeria and in Sub-Saharan Africa.

“This is an election umpire that has shamelessly chosen to be partisan during and after the election, even at the tribunal.

“We urge the APC-led government to carry out a thorough investigation of the CBN and particularly, the last APC government’s interference in the operation of the apex bank.

“Nigerians will not tolerate political and peripheral investigation. We suggest a forensic auditing by an independent firm and by so doing, maybe the real culprits, not just Emefiele will be unearthed.”

Vanguard

…Stakeholders commend Mbah on call for Nnamdi Kanu’s release

…Enugu loses N10b every sit-at-home – Mbah

…SE has lost N5.375 trillion to sit-at-home – CP

Stakeholders and representatives of various bodies, institutions, organisations, associations, professional bodies, government officials, and heads of security and intelligence agencies who rose from a town-hall meeting in Enugu have endorsed the ban on Monday sit-at-home by the Enugu State Government, saying it was detrimental to productivity, investment flow, and the Igbo spirit of creativity, entrepreneurship and commerce.

The town-hall enjoined members of the public to resume work and go about their normal daily businesses as various security and intelligence agencies have, in their joint and collaborative efforts, given assurances of citizens’ safety.

The town-hall equally backed and commended Governor Mbah “for the laudable steps taken so far to ensure peace is returned to the state, which include his recent visit to the President, Bola Ahmed Tinubu, for the release of the leader of the Indigenous Peoples of Biafra (IPOB), Mazi Nnamdi Kanu”, which the stakeholders said would “expedite the process of national healing, national integration, and national reconciliation”.

This was even as Governor Peter Mbah described the syndrome as a setback to the delivery of the campaign promises of his administration, noting that the state had lost N10 billion on each Monday.

On his part, the Commissioner of Police, Enugu State Command, Mr. Ahmed Ammani, who spoke on behalf of the heads of security agencies in the state, said that the South East region had lost well over N5.375 trillion to illegal sit-at-home, urging the people to go about their lawful businesses as the heads of the security agencies had “galvanized the personnel, operational and intelligence resources of the agencies, and deployed them towards ensuring adequate security and safety of the people.

The stakeholders made their stand known in the communiqué adopted at a town-hall meeting organised by the Enugu State Government at the Old Government Lodge, Enugu, on Saturday.

The stakeholders, after extensive and exhaustive deliberations at the town-hall, which also had Governor Mbah; the Deputy Governor, Barr. Peter Ossai; Commissioner of Police, Ahmed Ammani, clergies, town union Presidents-General, traditional rulers, labour and market unions, students and youths, among others, in attendamnce, equally gave their total supports to “any security measure or measures and other steps the State Government deems necessary in order to end the Monday sit-at-home and get people back to work in the overall interest of the state and its residents”.

While urging the security agencies to continue to work round the clock in order to reassure citizens and residents of their safety every day of the week, the town-hall equally called on the Enugu State government to “resuscitate, overhaul, rejig and strengthen internal security mechanisms, such as the Community Policing, Neighbourhood Watch, Forest Guards, amongst others, in the state”.

They called on members of the public to support the crime fighting efforts of the government and security agencies by sharing information on suspicious movements and gatherings by strange persons or groups of persons in any part or borders of the state.

While emphasising more public enlightenment on the adverse impacts of sit-at-home on Enugu State, it urged persons and groups with genuine grievances to take the opportunity of dialogue offered by the Government of Enugu State to engage the government on their grievances to ensure lasting peace and security in the state.

How Enugu loses N10b every Monday – Mbah

Meanwhile, in his opening remarks, Governor Peter Mbah, who praised the people of Enugu State and security agencies for the relative success of the first Monday after the abolition of the sit-at-home, put the cost of each sit-at-home at N10 billion, saying the state could not hit the $30 billion gross domestic product (GDP) target set by his administration at that rate.

“If we take the impact the Monday sit-at-home has on our GDP, you will then begin to see why it is almost impossible for all of us.

“We have proposed to grow our GDP from the current level of $4.4 billion to $30 billion. That growth is going to come from the private sector. And the private sector will not come to Enugu to reside their business if they know that we do not have five workdays, which is obtainable elsewhere”, he said.

Mbah, who further lamented the grave consequences of sit-at-home on the future Enugu children and psyche of the people, added that the deliverables by his administration were equally hinged on the ability of the state to work on Mondays.

“We have a bargain that water will flow in your homes in Enugu city in 180 days and I am sure that you won’t take any excuses. But if you look at the number of Mondays that we will lose if we continue with this practice of sit-at-home, we will be denied about 20 Mondays. But what we want to do is to make sure that water is flowing in your homes in 180 days.

“So, I am calling on us to rise to the occasion, to understand that this is about us, this is about our children, and our children’s future and we can’t not afford to fail them”, he concluded.

The 21 signatories to the communiqué, who were equally among the speakers at the town-hall, included the Commissioner of Police in Enugu State, Ahmed Ammani; Anglican Archbishop of Enugu Ecclesiastical Province, Most Revd Emmanuel Chukwuma; Chairman, Christian Association of Nigeria, Enugu State, Rev. Emmanuel Edeh; Coordinating Chairman, Nigerian Bar Association, Enugu State, Barr. Ugo Ferdinand Ukwueze; Coordinator, Financial Institutions in Enugu State, Prince Chiwetalu Nwatu; HRH Igwe Lawrence Agubuzu for the Enugu State Traditional Rulers Council; and Chairman of the Association of Local Governments of Nigeria, Hon. Solomon Onah;

Others included the Chairman, National Union of Road Transport Workers, Enugu State, Chief Martins Asogwa; Sammy Ajufor for the media community; President of Enugu State Amalgamated Traders Association, Comrade Stephen Aniagu; Chairman, Nigeria Labour Congress, Enugu State, Barr. Fabian Nwigbo; Chairman of the Enugu State chapter of the Trade Union Congress, Comrade Ben Asogwa; Chairman of the Nigeria Union of Teachers in Enugu State, Comrade Nweke Odoh; Chairman of the Enugu State chapter of the National Youth Council of Nigeria, Comrade Ebuka Okoh, Chairman of the Association of
Presidents-General of Enugu State Town Unions, Barr. Paully Eze; and Chairman, Tricycle Riders Association, Comrade Monday Onwuka.

The Chairman, Inter-Party Advisory Council, Enugu State, Comrade Edwin Ikechukwu; Chairperson of Nsukka Traders Association, Hon. Ngozi Ozioko; leader of the National Association of Nigerian Students, Enugu State, Comrade Ugochukwu Anichukwu, were equally among the signatories.

… Emefiele flown to Abuja for interrogation 

The Department of State Services (DSS) has said that the suspended Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has finally been brought in for questioning.

LEADERSHIP gathered that Emefiele was arrested in Lagos and flown to Abuja on Saturday.

This is coming after initial denial by the DSS spokesperson, Dr Peter Afunanya, that Emefiele was not in DSS custody earlier on Saturday.

Meanwhile, in a statement at about 2:18pm on Saturday afternoon, the DSS spokesperson confirmed that the suspended CBN governor was now in their custody in Abuja for some investigative reasons.

Part of the DSS statement reads, “the Department of State Services (DSS), hereby confirms that Mr Godwin Emefiele, the suspended governor of the Central Bank of Nigeria is now in its custody for some investigative reasons.

“The public, particularly the media, is enjoined to apply utmost caution in the reportage and narratives concerning this.”

Leadership

Gov. Francis Nwifuru of Ebonyi has appointed Prof. Grace Umezurike as the Secretary to the State Government (SSG) making her the first female to occupy the position in the state’s history.

The appointment was contained in a statement signed by the governor’s Chief Press Secretary, Dr Monday Uzor and made available to newsmen on Friday night.

According to Uzor, the appointment is with immediate effect.

“She will be sworn-in on Tuesday, June 13, 2023 at the executive council chambers of the government house, Abakaliki, Ebonyi State” the statement read.

Vanguard

The Department of State Services (DSS), has said that the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is not in their custody.

Reacting to the news reports that the DSS had arrested Emefiele on Friday night shortly after he was suspended from office as the CBN governor, DSS spokesperson, Dr Peter Afunanya, said “currently, Emefiele is not with the DSS.”

Earlier on Friday while making enquiries about the embattled CBN governor from DSS, Afunanya had told LEADERSHIP that he was already “Inundated” and he “may not be able to make any confirmations NOW, please.”

Aside his suspension from office for investigations into some allegations as stated by President Bola Tinubu, the DSS earlier in the year, accused Emefiele of torrorism financing.

The DSS said the suspended CBN governor was involved in the financing of terrorism and must answer for the alleged crime.

It said preliminary investigation revealed various acts of terrorism financing, fraudulent activities perpetrated by Emefiele and his involvement in economic crimes of national security dimension.

In the heat of the case, the DSS had tried to arrest Emefiele but a Federal High Court in Maitama, Federal Capital Territory (FCT), Abuja issued an order restraining the secret Police from arresting Emefiele.

This ruling, delivered by Justice M.A. Hassan also applies to the Inspector-General of Police (IGP), the Attorney-General of the Federation (AGF), the Economic and Financial Crimes Commission (EFCC), and the CBN, who are listed as defendants.

Earlier, a Federal High Court sitting in Abuja declined an application filed by the DSS to arrest and detain Emefiele over the grave allegations against him.

In declining the motion ex parte filed by the secret police, Justice J. T. Tsoho, the Chief Judge, said the DSS did not provide any concrete evidence to substantiate its claims that Emefiele was involved in terrorism financing and economic crimes.

When Emefiele returned to Nigeria after spending several weeks away, military personnel and intelligence officers were deployed to ensure that he was not arrested by the DSS.

The then CBN governor headed to his office after his return with massive security, specifically military protection. Leadership

President Bola Tinubu has assented to the electricity bill, which authorizes states, companies and individuals to generate, transmit and distribute electricity.

The new electricity law repeals the Electric Power Sector Reform Act (EPSRA) which was signed by President Olusegun Obasanjo in 2005.

The EPSRA (2005) provided the legal, regulatory and governance frameworks underpinning the Nigerian Electricity Supply Industry (NESI).

The new Act signed by Mr Tinubu consolidates all legislations dealing with the electricity supply industry to provide an omnibus and ideal institutional framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry and encourage private sector investments in the industry.

It also provides a framework for the improvement of access to electricity in rural, unserved, underserved, peri-urban and urban areas through the use of conventional sources and renewable energy off-grid and mini-grid solutions.

With the new law, states would be able to issue licenses to private investors who have the ability to operate mini-grids and power plants but such state licenses are not to extend to inter-state or transnational distribution of electricity.

Speaking on the enactment of the new act, President Bola Tinubu, during an interactive session with traditional rulers on Friday, said the constitutional amendment permits Nigeria’s 36 states to generate electricity.

‘‘That’s devolution of power and that should be our contribution to the developmental projects you are looking for and we will continue in ways that will help our people,’’ Mr Tinubu was quoted as saying.

Under the Nigeria Electricity Act, electricity generation licensees are obligated to meet renewable generation obligations as may be prescribed by NERC.

To create a market for renewable energy and stimulate investments in the sector, electricity generating companies will be mandated to either generate power from renewable energy sources, purchase power generated from renewable energy or procure any instrument representing renewable energy generation.

The Electricity Act also mandates the imposition of renewable purchase obligations on distribution or supply licensees.

Meanwhile, until a state has passed its electricity market laws, the Nigerian Electricity Regulatory Commission (NERC) will continue to regulate electricity business exclusively carried out in those states.

The Electricity Reform Act, 2005, also empowers the NERC to oversee the electricity industry activities, including licencing and regulating persons engaged in the generation, transmission, and system operation. NERC would continue performing this function under the new law.

About two weeks earlier, former President Muhammadu Buhari had signed 16 constitutional amendment bills, one of which pertains to the devolution of powers as it relates to the national grid system. It also provided clarity on the powers of the federal government and states to generate, transmit, and distribute electricity.

Premium Times

President Bola Ahmed Tinubu has suspended the Central Bank Governor, Godwin Emefiele, CFR, from office with immediate effect.

The suspension was announced late on Friday night and was quickly followed by reports that the suspended governor has been arrested by the Department of State Services (DSS).

The secret police has however refused to either deny or confirm Emefiele’s arrest.

According to a statement from the office of the secretary to the government of the federation, this is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

The statement however did not specify the nature of the investigation or when it was launched.

The DSS had in February 2023, accused suspended CBN governor, Godwin Emefiele of terrorists financing.

However, DSS spokesperson, Dr Peter Afunanya, asked to confirm the arrest, only said “Inundated. I may not be able to make any confirmations NOW, please.”

LEADERSHIP Sunday reports that Emefiele had been accused by the DSS of fraternizing with a well-known terror financier, whose name was not disclosed.

The DSS said the CBN governor was involved in the financing of terrorism and must answer for the alleged crime.

Back in February, it said preliminary investigation revealed various acts of terrorism financing, fraudulent activities perpetrated by Emefiele and his involvement in economic crimes of national security dimension.

In the heat of the case, the DSS had tried to arrest Emefiele but a  Federal High Court in Maitama, Federal Capital Territory (FCT), Abuja issued an order restraining it from arresting Emefiele.

This ruling, delivered by Justice M.A. Hassan also applied to the Inspector-General of Police (IGP), the Attorney-General of the Federation (AGF), the Economic and Financial Crimes Commission (EFCC) who were listed as defendants.

Earlier, a Federal High Court sitting in Abuja declined an application filed by the DSS to arrest and detain Emefiele over the grave allegations against him.

In declining the motion ex parte filed by the secret police, Justice J. T. Tsoho, the Chief Judge, said the DSS did not provide any concrete evidence to substantiate its claims that Emefiele was involved in terrorism financing and economic crimes.

When Emefiele returned to Nigeria after spending several weeks away, military personnel and intelligence officers were deployed to ensure that he was not arrested by the DSS.

The then CBN governor headed to his office after his return with massive security, specifically military protection.

Recall that Emefiele had nursed presidential ambition and attempted to vie for the office on the platform of the ruling All Progressives Congress.

After facing opposition from some quarters including within the CBN, Emefiele approached the Delta State High Court sitting in Kwale, Ndokwa West local government area, Delta State, to get an order restraining the apex bank and the Independent National Electoral Commission (INEC), from stopping him from contesting the 2023 presidential election.

He eventually backed down after it was clear that he would have to resign from office to contest the presidential primary election of the ruling party.

While in office, he also introduced a redesigned Naira currency weeks before the presidential election with political pundits insinuating the policy was targeted at the presidential campaign of Bola Tinubu, now president.

Emefiele in the statement from the office of the SGF was directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.

Folashodun is the deputy governor, Operations of the Central Bank of Nigeria (CBN)

He began his working experience as a Consultant Engineer at Mek-ind Associates and worked from 1984 to 1989. From 1989 to 1990, he was a Marketing Executive at Inlaks Computers Limited.

He moved to Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993. He joined Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology from 1999. In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002.

In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology and in 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited. He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, September 2009 to April 2012.

He became the managing director irector/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018. October 2018 to date, Mr. Folashodun is the Deputy Governor, Operations of the Central Bank of Nigeria (CBN) representing the Governor of the Central Bank of Nigeria on the Board of FIRS since the 9th of December, 2019. He is married with children.

On June 9, 2023, he became the Acting Governor of the Central Bank of Nigeria (CBN)

Mr. Folashodun Adebisi was born on the 7th of March, 1962. He attended the University of Lagos from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering.

He further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same University. From 1988-1989 he shifted grounds to Finance and obtained a Masters’ in Business Administration specialising in Finance.

Meanwhile, the CEO of Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, said that the suspension of the CBN Governor did not come as a surprise, saying that President Bola Tinubu has made it known that there was need for a thorough house cleaning at the CBN and the general monetary policy environment.

According to Yusuf, Tinubu did not hide his feelings about the need to reform the CBN and to do house cleaning in CBN. He was also very clear about not being in support of some major policies of CBN, which is in the area of the foreign exchange policy and naira redesign.

“He did not hide his displeasure. With this, it shows that the continue is not consistency with some of his policy position. The result is what we are seeing. They are not on the same page as far as fundamental policies are concern.”

Leadership

Less than two weeks after assuming office as President and Commander-in-Chief of the Armed Forces, President Bola Ahmed Tinubu has suspended the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, from office with immediate effect.

The suspension, according to a statement issued and signed by the Director of Information in the Office of Secretary to the Government of the Federation (OSGF), Willie Bassey, on Friday night, said the suspension came into effect as part of investigation of his office and the planned reforms in the financial sector of the economy.

The statement noted that Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.

“President Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect. This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms,” he stated.

Leadership