If there was any government official that has kept millions of Nigerians on their knees for the past nine years or thereabouts, it definitely has to be the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
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10 unforgivable sins committed by Emefiele
10 unforgivable sins committed by Emefiele
Emefiele has been suspended by President Tinubu with immediate effect and the possibility of him returning to the CBN is almost non-existent.
Emefiele finally met what might appear to be his waterloo on Friday, June 10, 2023, when the presidential hammer landed on his ever-shining, but delicate head.
In a not-so-shocking development, President Bola Tinubu dropped the axe on Emefiele who had caught the figure of a pariah in some sort, largely due to the excruciating effects of his many ill-thought-out, poorly-executed fiscal and monetary policies on Nigerians.
The reactions that have trailed the controversial CBN governor’s suspension so far suggested that President Tinubu may jolly well have ended the reign of economic terror and wanton financial servitude most Nigerians were subjected to in the last decade.
When the news broke on Friday night, you could hear a national sigh of relief, so silent, but still audible enough to reverberate across the country. It was one of such very rare occasions when Nigerians collectively agreed on a course of action.
Such was the kind of impact Emefiele had on the nation. He was not only one of the longest-serving government appointees but also held a position that was crucial to the economic prosperity and survival of Africa’s most populous country and its citizens.
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But, his stint will be etched in the annals of history as the one that ushered Africa’s biggest economy into the worst economic phase in its over 60 years of nationhood.
Having been privileged to serve under three different presidents, one would imagine that Emefiele will exit office amid pumps and pageantry, but the reverse is clearly the case.
Below are 10 reasons Nigerians may never forgive Emefiele
1 Naira plunged to an all-time low: Under Emefiele’s watch, the nation’s currency suffered a great deal. The naira, which was exchanging for ₦190 to one United States dollar before he assumed office in 2014, sank to an all-time low, trading at over ₦750 at the parallel market as of Friday.
2 Encouraged forex arbitrage and round-tripping: Against advice by experts, including the International Monetary Fund (IMF) and the World Bank, that the naira should be allowed to find its true value, the suspended CBN governor spent trillions of naira trying to defend the currency but to no success.
He also created a window for Importers and Exporters to access dollars at subsidised rates in a bid to keep inflation at bay. While the answer to whether the intervention was successful or otherwise is still blowing in the wind, what is in no doubt is the price discrepancy it created in the market.
As a result of this, some unscrupulous elements who are opportune to access forex in the I&E window smiled to the banks at the expense of the Nigerian masses by profiting heavily from currency arbitrage and round-tripping.
3 Banned Crypto trading: Arguably, the biggest blow Emefiele dealt the young population was his decision to prohibit banks from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges in Nigeria in 2021.
Justifying his decision to ban cryptocurrency-related transactions in the country, he claimed that digital currency was being used for money laundering and terrorism, adding that the use of cryptocurrencies in Nigeria is a direct contravention of existing law.
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Though the apex bank promised to bring up a regulatory policy framework for the implementation of cryptocurrencies in the country, not much has been heard about that since.
4 Accused a website of causing naira devaluation: Perhaps the most ridiculous act from an apex bank governor anywhere in the world. Frustrated by his failure to rescue the falling naira, in September 2021, Emefiele accused AbokiFX of economic sabotage.
The online platform is famous for publishing daily foreign exchange rates in the parallel market and is a popular reference point for traders. But, the suspended CBN governor said, by publishing speculative black market rates, the platform and its founder, Oniwinde Adedotun, were influencing the naira value.
5 Dabbled into politics: If his sins were to be ranked, this particular one will take the top spot. In a very surprising move and against the rules of his office, Emefiele decided in his wisdom that he wanted to succeed President Muhammadu Buhari as Nigeria’s president.
Even though he never came out to declare this ambition, pictures emerged online of campaign vehicles painted with his image on them. Also, a group of All Progressives Congress (APC) supporters purchased the party’s presidential expression of interest and nomination forms in his name.
As criticisms grew about his inordinate ambition, Emefiele approached the court to seek clarification on whether he is eligible to contest for president without resigning his position as the CBN governor. The court ruled against him.
6 Introduced Naria re-colouration and cashless policy: Reeling from his failed presidential bid, Emefiele decided to get back at the politicians who he believed thwarted his dream and sold the dummy of naira redesign and cashless policy to the former President.
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Against the expectations of many Nigerians, the purported naira redesign later turned out to be a mere recolouration as the affected notes still retained their old designs with just a little colour variation.
However, his intention became clearer as we approached the last general elections. What was meant to be a cash swap later turned to cash confiscation as Nigerians were denied access to their money, leading to protests and chaos in several states across the country.
7 Alleged Terrorism financing: While this still remains in the realm of speculation, several reports have alleged that the Department of State Services (DSS) has established a link between the embattled banker and terror financing in the country. He was accused of funding the activities of the proscribed pro-Biafra group, IPOB and other such groups in the country.
8 Refused to pay Paris Club refund: Emefiele has a pending case before Justice Inyang Ekwo of the Abuja Federal High Court over his refusal to effect payment of $53 million judgement debt arising from the Paris Club refunds.
The suspended CBN governor was initially invited to appear before the court on January 18, 2023, to explain his refusal to obey a valid order for payment of a $70m debt.
Emefiele has only released $17 million, leaving $53 million in unpaid debt.
9 Failed to tame raging inflation: Despite spending trillions of naira in form of interventions to bring down inflation, Emefiele successfully failed in this singular task as inflation surged to an 18-year high from 9% in 2014 to 22% in 2023.
10 Illegally printing money: Emefiele was also accused of printing money for the federal government to the tune of ₦22 trillion, an action considered to be illegal for an apex bank.
10 unforgivable sins committed by Emefiele
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Fubara Chooses Peace, Dedicates “Man of the Year” Award to Wike
Fubara Chooses Peace, Dedicates “Man of the Year” Award to Wike
Rivers State Governor Siminalayi Fubara has made a bold statement of political reconciliation by dedicating his “Man of the Year” award to the Minister of the Federal Capital Territory, Nyesom Wike. The gesture comes as the governor continues efforts to heal political rifts that have plagued Rivers State since his inauguration in May 2023.
At the New Telegraph Honor/Dinner Night in Lagos on Friday, Fubara reflected on leadership, political pressure, and the value of peace, describing what critics often call “weakness” as a deliberate choice for stability.
“Some of these pains, some persons describe them as weakness, while others say it is being strong, but I choose for a lot of reasons to be weak. Weak, because I want peace. Weak, because we need to survive. Weak, because I need to also protect those things that are dear, not just to me, but to our dear nation,” Fubara said.
The governor emphasised that weakness is a virtue, adding that it “pays at the right time,” highlighting his focus on peaceful governance and unity. He also thanked the people of Rivers State for their patience and maturity during months of political tension.
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In a notable gesture, Fubara dedicated the award to Wike, describing him as the mentor who “discovered” his potential and paved the way for his political rise. “Without him, I wouldn’t be standing here as governor … it is the discovery that gave me this loudness,” he said, framing the award as a symbol of respect and reconciliation.
Reconciliation Amid Political Tensions
The dedication signals a thaw in the previously tense relationship between Fubara and Wike, which had seen governance instability, impeachment threats, and legislative conflicts. Recent interventions by President Bola Ahmed Tinubu reportedly helped ease the tension, prompting both leaders to take steps toward collaboration and stability.
Observers note that Fubara’s public acknowledgment of Wike’s role in initiatives such as the Port Harcourt Ring Road project reinforces the governor’s commitment to unity and development-focused leadership. Fubara has also moved to stabilize governance, including submitting a new list of commissioner nominees to the Rivers State House of Assembly.
Political Implications
Analysts describe Fubara’s award dedication as a strategic political peacebuilding move, enhancing stability in Rivers State and setting a tone for future cooperation. The gesture underscores the importance of mentorship, respect, and reconciliation in Nigerian politics, particularly in states where rivalries have historically disrupted governance.
The award ceremony drew dignitaries across political, traditional, and civil society circles, highlighting the symbolic significance of Fubara’s message of unity and inclusive leadership.
Fubara Chooses Peace, Dedicates “Man of the Year” Award to Wike
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Kwara Communities Abandon Homes as Terrorists Circulate Threat Letters
Kwara Communities Abandon Homes as Terrorists Circulate Threat Letters
Residents of Ira, Inaja, and Aho communities in Oyun Local Government Area, Kwara State, have fled their homes following threats from suspected terrorist groups, raising alarm over security in northern Nigeria. The threats come in the form of letters warning of imminent attacks, fueling fear and prompting mass displacement.
Over the past week, hoodlums linked to extremist elements reportedly delivered threat letters to four communities. One of the letters, left near the central mosque in Ira, was signed by the “Nigeria Terrorist Association (NTA)”. The message warned villagers to “be ready for us at any time, any date,” claiming the group had moved from Kaiama LGA and intended to target surrounding towns.
The warnings follow a deadly attack on Woro town in Kaiama LGA, where over 176 residents were killed and 38 others abducted earlier this month. Residents fear a repeat of the massacre, causing widespread panic and displacement.
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Community Reactions
Traditional leaders reported that the letter was delivered by two men on a motorcycle at a busy Okada riders’ park. Once discovered, the letter was immediately taken to local chiefs and security agencies. Despite the presence of DSS, police, NSCDC, and military personnel, many families chose to leave, while others remained indoors, closing shops and suspending farming and school activities.
Oba Wahab Oyetoro, the Oninaja of Inaja, confirmed that the threat heightened tensions, forcing some residents to seek refuge in neighboring towns such as Offa. Community members described nights of fear and warned children to avoid moving outside after dark.
Yekini Olarewaju, National Secretary of the Ira Descendants Union, emphasized the disruption to daily life, noting that people could not tend to farms, operate businesses, or attend schools. He added that locals have sought urgent government and security intervention.
Security Response
The Kwara State Police Command confirmed receiving the threat letters, stating that investigations are ongoing to verify the source. Police have intensified patrols in collaboration with local vigilantes and urged residents to report suspicious activity.
A senior officer from the Department of State Services (DSS) and the Nigerian Army’s Forward Operating Base in Ilemona confirmed increased security measures and operational alertness. Oyun LGA Chairman Akanbi Olarewaju convened an emergency meeting with traditional rulers and security agencies to map out preventive strategies and reinforce community policing efforts.
Authorities stressed the importance of timely information-sharing to avert potential attacks and reassure residents. Despite these measures, fear continues to grip communities, leaving many families displaced and anxious about the coming days.
The incident underscores ongoing challenges in combating terrorism and insecurity in Kwara State and northern Nigeria, particularly in vulnerable rural corridors near forest belts.
Kwara Communities Abandon Homes as Terrorists Circulate Threat Letters
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DPO Killed in Katsina Gun Duel With Bandits
DPO Killed in Katsina Gun Duel With Bandits
The Nigeria Police Force has confirmed that a Divisional Police Officer (DPO) was fatally shot by suspected bandits during a gunfight in Katsina State as security personnel responded to a distress call about cattle rustling and armed attacks. The incident marks another deadly encounter in the ongoing fight against banditry in northern Nigeria.
According to the Katsina State Police Command, the attack unfolded on Friday afternoon, February 13, 2026, at about 2 p.m. in Magaje Village, Rimi Local Government Area. Security operatives received reports that suspected bandits armed with dangerous weapons had launched an attack in the community, rustling livestock and firing shots sporadically.
In response to the distress call, the DPO of Rimi, CSP Muhammad Sani‑Kabir, mobilised officers from neighbouring divisions and worked with military personnel to track the suspects and recover the rustled animals. When the team caught up with the armed bandits at the outskirts of the village, a gun duel ensued.
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While the joint operation successfully neutralised three suspected bandits and recovered the stolen livestock, CSP Sani‑Kabir was tragically shot and killed during the exchange of fire. One other police officer sustained a gunshot wound and was taken to a nearby hospital, where he is reportedly responding to treatment.
The Katsina State Commissioner of Police, Bello Shehu, mourned the slain officer, describing him as a professional and dedicated police leader whose actions demonstrated bravery and a strong commitment to public safety. Shehu also expressed condolences to the DPO’s family, friends, and colleagues.
Authorities have launched a manhunt for any remaining attackers, and additional security reinforcement has been deployed to bolster efforts to protect residents and stabilise affected communities.
The incident underscores the persistent challenge of banditry and cattle rustling in Katsina State and the Northwest region, where armed criminal groups frequently ambush security forces, abduct civilians, and raid villages. Recent attacks across the state, including ambushes that killed other police officers, have heightened concerns about the safety of rural patrols and response teams.
Local leaders and security experts have called for enhanced intelligence, better equipment, and stronger collaboration between security agencies and communities to prevent such deadly confrontations and improve protection for both officers and civilians.
DPO Killed in Katsina Gun Duel With Bandits
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