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Financial system rotten under Emefiele – Tinubu

Published

3 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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Police, Army Disagree Over IED Materials Recovered From Suspect in Borno

Published

29 minutes ago

December 31, 2025

Trends Admin

Police Public Relations Officer in Borno, ASP Kenneth Daso

Police, Army Disagree Over IED Materials Recovered From Suspect in Borno

The Nigeria Police Force and the Nigerian Army have issued conflicting accounts over items allegedly recovered from a suspect arrested in Banki town, Bama Local Government Area of Borno State, raising public concern over the true nature of the incident.

Both security agencies confirmed the arrest of the suspect, identified as Abubakar, and said preliminary investigations were carried out. However, while the Nigerian Army described the suspect as a would-be suicide bomber in possession of Improvised Explosive Device (IED) materials, the Borno State Police Command dismissed the claim and cautioned against misinformation.

In a statement dated December 30, 2025, the spokesman of the Joint Task Force (North East), Operation HADIN KAI, Lt-Col. Sani Uba, said troops had apprehended a suspected suicide bomber and intercepted primed IED components.

According to the statement, the arrest followed sustained joint security operations and intelligence-led efforts to secure Banki town by troops of the 152 Task Force Battalion, working alongside other security agencies.

Lt-Col. Uba said the suspect, identified as Abubakar Mustapha, was arrested at about 5:40 p.m. on Monday, December 29, 2025, near the Banki Central Mosque, and was allegedly found in possession of materials indicating an imminent terrorist attack.

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“Preliminary investigations revealed that the suspect hails from Bama Local Government Area and was further discovered to be in possession of additional incriminating materials linked to terrorist activities,” the statement said, adding that the suspect was undergoing further interrogation to uncover possible terrorist links and sponsors.

However, hours later, the Borno State Police Command released a counter-statement through its spokesman, ASP Nahum Kenneth Daso, titled ‘Borno Police Command clarifies arrest of suspect over alleged IED materials in Banki LGA, cautions against misinformation’.

The police said it had observed the circulation of social media videos alleging the recovery of IED components and sought to clarify the situation.

According to the police, operatives on surveillance duty around a mosque in Banki LGA at about 6:10 p.m. on December 29, 2025, arrested Abubakar with a bag containing electrical wires, old mobile phone batteries, assorted gadget scrap materials, and pairs of shoes.

The Command stressed that preliminary findings showed no evidence of active IED fabrication or priming, contrary to claims circulating online.

The police added that the case had been transferred to the State Criminal Investigation Department for a comprehensive investigation, while the suspect remains in custody.

The Command warned the public against spreading unverified information capable of causing panic, urging residents to rely on official and credible sources for accurate updates, and reaffirmed its commitment to protecting lives and property in the state.

Police, Army Disagree Over IED Materials Recovered From Suspect in Borno

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Driver in Anthony Joshua Crash Faces Possible Reckless Driving Charges

Published

42 minutes ago

December 31, 2025

Trends Admin

Driver in Anthony Joshua Crash Faces Possible Reckless Driving Charges

Emerging investigations into the fatal road crash involving former world heavyweight boxing champion Anthony Joshua indicate that the driver of the vehicle may soon face criminal prosecution for reckless driving, according to a source familiar with the probe.

The highly placed source disclosed that findings by the Federal Road Safety Corps (FRSC) revealed that the vehicle was travelling at excessive speed and engaged in wrongful overtaking, both classified as serious violations of Nigeria’s traffic regulations. Such offences, the source noted, attract criminal liability when they result in loss of life.

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Investigators are said to be concluding documentation to be forwarded to the Nigeria Police Motor Traffic Division, which is currently working with prosecutors to determine the appropriate charges. Prosecution for dangerous or reckless driving causing death is reportedly under consideration.

The source further confirmed that Anthony Joshua sustained a leg fracture in the accident and is receiving medical care.

Although no official statement has yet been issued by authorities, the incident has reignited public discourse on road safety, speed violations, and driver accountability on Nigerian highways.

The tragic accident occurred on Monday, December 29, 2025, along the Lagos-Ibadan Expressway, claiming the lives of two of Joshua’s close friends and team members, Sina Ghami and Latif Ayodele.

Driver in Anthony Joshua Crash Faces Possible Reckless Driving Charges

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One Feared Dead, Five Trapped as Rice Mill Collapses in Kebbi Capital

Published

1 hour ago

December 31, 2025

Trends Admin

One Feared Dead, Five Trapped as Rice Mill Collapses in Kebbi Capital

A partial collapse of a private rice mill in Birnin Kebbi, the Kebbi State capital, has claimed the life of one worker while five others remain trapped beneath twisted metal wreckage.

The incident occurred on Tuesday at a section of the NIA-AGRI rice mill facility, prompting swift intervention by the Kebbi State Government. Upon receiving distress reports, Deputy Governor Senator Umar Abubakar Tafida led a high-level government delegation to the scene to assess the situation and oversee ongoing rescue operations.

During the on-the-spot assessment, the Deputy Governor expressed the government’s condolences to the management and staff of NIA-AGRI over the tragic incident. He explained that the visit was aimed at evaluating the extent of damage and ensuring that emergency responders were adequately supported.

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The project engineer at the site confirmed to the delegation that one employee died as a result of the collapse, while five others were still buried under the rubble at the time of the visit.

Rescue efforts are being coordinated by the Kebbi State Fire Service in collaboration with Government Emergency Response agencies, who have been working tirelessly to locate and free the trapped workers.

The cause of the rice mill collapse has not yet been established. Senator Tafida stated that a full investigation would be launched once rescue operations are concluded.

The Kebbi State Government reaffirmed its commitment to sustaining the rescue mission until all affected individuals are accounted for. As of the time of filing this report, the fate of the five trapped workers remains unknown.