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Financial system rotten under Emefiele – Tinubu

Published

2 years ago

June 24, 2023

President Bola Ahmed Tinubu and Godwin Emefiele

Financial system rotten under Emefiele – Tinubu

President Bola Tinubu, on Friday in Paris, France, described Nigeria’s financial system under the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele, as “rotten.”

He cited the difficulty in the flow of forex in and out of the country, saying it enriched a few people while impoverishing the vast majority of Nigerians.

“The financial system was rotten. Few people were making away with our money…that is gone now; the man (Emefiele) is in the hands of the authorities,” Tinubu said at his first Diaspora engagement with Nigerians living in France.

Tinubu’s comments come exactly two weeks after the suspended the former CBN chief to pave the way for the investigation of his office and the planned reforms in the financial sector, a statement from the office of the Secretary to the Government of the Federation explained.

Emefiele was later arrested and is currently being detained by the Department of State Services as operatives combed his Lagos residence, where they reportedly recovered some vital documents.

The embattled Emefiele has since approached the Federal Capital Territory High Court in Abuja to challenge his detention by the DSS.

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Speaking further in France on Friday, Tinubu said his administration would implement further financial reforms in the coming weeks.

He said while addressing Nigerians residents in France, “Then, the financial system was rotten. Few people were making away with our money and then you yourselves, stopped sending money home to our poor parents.

“That is gone now. The man (Emefiele) is in the hands of authorities; something is being done about that; they will sort themselves out.

“We have security challenges in the country. Maybe that is how they are fuelling insecurity; we have to look at everything. We will change the financial system; it will work for you.”

The President said he and his Special Adviser on Monetary Policy, Mr Wale Edun, turned the fortunes of Lagos State around between 1999 and 2003 moving the internally generated revenue from N600m annually to N50bn monthly.

“Now, Lagos is on auto pilot. Anybody intelligent enough can navigate it,” he added.

Tinubu also promised to work for those who did not vote for him during the February 25 election in which he was declared the winner.

“Whether you voted for me or you didn’t vote for me, I am your president. By the grace of God, I have to work on your behalf,” he explained.

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The President who described Nigeria’s challenges as “enormous,” said he was prepared for the job ahead of him.

Tinubu stated, “So, your President is here. I danced for it and I have to continue to be prepared for it.

“The challenges are enormous. But do we have hope? Yes. With perseverance, determination and persistence, we can achieve whatever we desire.”

He also noted that he, like some in the audience, had experienced the rough side of Diaspora life, saying “I know the road and I’ve been through what many of you have been through outside the country. I’ve been in America and in the UK; I had been a night guard, security man and a door man in America. But I have achieved my aim.”

Meanwhile, Tinubu on Friday in Paris said Nigeria was ready to work with the Republic of Benin towards economic prosperity as both countries needed each other, especially on issues of trade, security and border controls.

“We must recognise the fact that we need each other. We are in a loop and no one should separate us,” Tinubu said when he received the President of Benin Republic, Patrice Talon, after the summit on New Global Financing Pact.

The President’s Special Adviser on Special Duties, Communication and Strategy, Dele Alake, in a statement, described Nigeria’s relations with Benin as that of Siamese twins. Tinubu assured Talon that his administration would always be open and accessible to all neighbouring countries.

Responding, Talon said he was inspired with renewed hope for the sub-region and Africa at the inauguration of President Tinubu in Abuja, pledging to provide support on trade and security policy, especially at the borders.

Punch

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Mother, daughter who stole ponmo, stock fish in Ogun jailed six months

Published

7 hours ago

March 29, 2025

Trends Admin

Mother, daughter who stole ponmo, stock fish in Ogun jailed six months

A Magistrates’ Court in Abeokuta, Ogun State yesterday sentenced a mother, Falilatu Amidu, and her daughter, Ayisatu, to six months imprisonment each for stealing dry ponmo, stock fish and dried meat valued N1 million

The defendants, who reside at No 21 Ago-Oko area of Abeokuta, were convicted on a two-count charge of conspiracy and stealing.

The Magistrate, Mrs O.O. Odumosu, held that the evidence presented by the prosecution had proven beyond reasonable doubt that the convicts were guilty of the offence as charged.

Odumosu sentenced both mother and daughter to six months in prison each with an option of N5,000 fine.

She ordered that the convicts should refund N100,000 each to the complainant as restitution before accessing the N5,000 fine option.

Earlier, the prosecutor, Insp. Kehinde Fawunmi, had told the court that the defendants committed the offence at Lafenwa market sometime in August 2024.

Fawunmi explained that Falilatu conspired with her daughter, Ayisatu, to steal a big sack containing stock fish, dried ponmo and dried cow meat valued N1million, belonging to one Mrs kafayat Alao.

According to him, one of the defendants, Falilatu, used to help the complainant to carry load from her store in Lafenwa to where the complainant sells her items.

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“The complainant asked her to help her pick some goods from the store. She waited for over an hour and did not see the defendant, which made her to go to the store to check on her.

“On getting to the store, she did not find Falilatu, and she noticed a big bag containing dried meat, ponmo and stock fish was missing while the defendant was nowhere to be found,” he said.

Fawunmi further explained that Falilatu stole the goods and gave it to her daughter (Ayisatu) to sell. He said Ayisatu received the goods from her mother, knowing that they were stolen.

The prosecutor noted that the offence committed contravened sections 516, 390(9) and 127 of the Criminal Code Laws of Ogun 2006.

Mother, daughter who stole ponmo, stock fish in Ogun jailed six months

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Ex-Rivers HoS wife cries for help over husband’s safety

Published

7 hours ago

March 29, 2025

Trends Admin

Florence Nwaeke and her husband, George Nwaeke

Ex-Rivers HoS wife cries for help over husband’s safety

The wife of the immediate past Rivers State Head of Service, George Nwaeke, has voiced concerns over his whereabouts and well-being following his resignation, saying she has been unable to reach him.

Speaking to journalists on Friday, Florence Nwaeke said she became alarmed after seeing an online interview attributed to her husband, which she found suspicious.

“When he got to Abuja, he called that he had landed. I said, ‘Thank God,’” she recalled.

However, after coming across the interview, she began to fear something was amiss.

“I said, ‘That is not my husband. That is not my husband.’

“So I sent him a message. I said, ‘Are you under duress?’ I sent him a message. I said, ‘Have they kidnapped you? Talk to me now. Why are you not talking to me?’ This is the message I sent to him when I saw his interview online,” she said.

Overcome with worry, she made an emotional appeal for help.

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“Oh, Jesus, help me. Nigerians, help me. My husband is in trouble. My husband is in trouble. My husband is in trouble. My husband is in trouble. Look at the message I sent to him. See the message I sent to him. I said, ‘Daddy, why? Were you in hostage?’ I said, ‘Why didn’t you talk to me?’ These are the messages I sent to him, but he didn’t reply to me. His numbers are not going through. Nigerians, help me! Nigerians, help me!” she pleaded.

Her concerns follow allegations made by George Nwaeke against suspended Rivers State Governor Siminalayi Fubara. Nwaeke had accused the governor of plotting to back Bauchi State Governor Bala Mohammed for the 2027 presidency and of using militants to attack oil facilities. He also alleged that Fubara ordered the bombing of the State House of Assembly in 2023 to prevent his impeachment.

Florence Nwaeke, beyond raising alarm in the media, also directed a personal plea to the governor.

“Governor, help me. My husband is in trouble. He is in trouble,” she implored, claiming that her husband resigned under pressure.

However, Fubara dismissed the claims, insisting that Nwaeke had been influenced by external forces.

“The truth is that Dr. Nwaeke has been compromised, and whatever he is saying is only aimed at fulfilling his promise to those who may have paid or coerced him to lie against me,” the governor stated late Friday.

Fubara also released screenshots purportedly showing chats between Nwaeke and his Chief of Staff, Edison Ehie, where Nwaeke allegedly requested financial assistance.

Ex-Rivers HoS wife cries for help over husband’s safety

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Fubara reacts as Ex-HOS, Nwaeke accuses him of bombing oil pipelines, Rivers Assembly

Published

7 hours ago

March 29, 2025

Trends Admin

Siminalayi Fubara

Fubara reacts as Ex-HOS, Nwaeke accuses him of bombing oil pipelines, Rivers Assembly

Suspended Governor of Rivers State, Siminalayi Fubara has denied accusations from his former Head of Service, George Nwaeke, disclosing that he never ordered the bombing of the Rivers State House of Assembly or any Oil Pipeline.

Fubara, in a statement made available to newsmen, stated that no such thing occurred during his administration. The statement read;

“My attention has been drawn to a press briefing by the former Head of Service, Dr. George Nwaeke aired on Channels Television on Friday the 28th of March 2025. Ordinarily, I would not have responded to his claims, but to correct the erroneous impression such allegations may create in the minds of the people, and the disaffection it is bound to cause in the state and the country.”

“First, on the claim that he was aware of my discussions and plans to support Bala Mohammed’s alleged 2027 presidential bid, it is laughable that Dr. Nwaeke would be part of any high level political meeting as Head of Service, much more sitting in my alleged night meetings with Bala Mohammed and militants like he claimed. Howbeit, none of such meetings ever held.”

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“The truth is that the whole world knew when the Bauchi State Governor, as Chairman of Peoples Democratic Party Governors Forum visited the State, and there was nothing secret about the visits.”

“It is also ludicrous for Dr. Nwaeke to claim that he was aware of my meetings to encourage attacks on oil pipelines and other National assets in the State, as there was no time I held any meeting with militants or any criminal group to destabilise the State. It is on record that I have been at the forefront preaching peace in the State even in the face of obvious provocations.”

“The truth is that Dr. Nwaeke has been compromised, and whatever he is saying is only aimed at fulfilling his promise to those who may have paid or coerced him to lie against me.”

“I call on all well meaning Nigerians and the good people of Rivers State to disregard everything said by Dr. Nwaeke as they are mere desperate attempts to discredit me and my administration, and undermine the peace process by Mr. President”.