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Atiku’s FX solution will return Nigeria to Emefiele era – Onanuga

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Presidency Attacks Peter Obi Over ‘One-Term’ Promise, Questions His Political Loyalty
Bayo Onanuga, Special adviser on Information & Strategy

Atiku’s FX solution will return Nigeria to Emefiele era – Onanuga

The Presidency has countered Atiku Abubakar’s Foreign Exchange Solution, stating that a controlled floating of the currency to prevent further devaluation will merely return Nigeria to the economic regime of Godwin Emefiele, the beleaguered former Governor of the Central Bank of Nigeria.

It said that the programme, which saw approximately $1.5 billion paid monthly to prop up the naira, encouraged financial malpractices such as arbitrage, which harmed the economy.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, made this claim in a statement released on Sunday titled ‘Once again, former Vice President Atiku Abubakar got it wrong.’

Onanuga was responding to Atiku Abubakar, a former Vice President and presidential candidate for the Peoples Democratic Party in the 2023 elections, who claimed that Tinubu’s economic policies, particularly the unification of the exchange rate, were implemented hastily and without adequate planning or consultations with stakeholders.

Tinubu’s economic changes during the last nine months have caused collateral instability in the value of the naira, causing misery for Nigerians as food prices continue to rise.

Atiku criticised the government, saying, “The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy, and the rest of us cannot keep quiet when the government has demonstrated sufficient poverty of ideas to redeem the situation.”

He argued that “given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed floating system would have been a preferred option.”

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Atiku remarked that the naira would fluctuate daily in such a system, but the CBN would intervene to control and stabilise its value.

“Such control will be exercised judiciously and responsibly, especially to curb speculative activities,” he noted.

However, the Presidency disagreed, saying, “Atiku’s alternative of a controlled floatation of the naira is similar to the policy of Godwin Emefiele, when an estimated $1.5 billion was spent monthly to shore up the naira while arbitrage or round-tripping went on unhindered. Sadly, it was perpetrated by people close to the corridors of power.”

According to Onanuga, the President, his VP, and state governors met last Thursday to discuss food supply and how to dramatically reduce food price fluctuations, not currency fluctuations, as Atiku stated.

Citing Tinubu’s appeal to governors to allow the CBN to function and his refusal to establish a commodity board, he added, “We expected Alhaji Atiku to praise President Tinubu for maintaining this stance and for not interfering with the business of Central Bank.

“It is false and preposterous for Atiku to claim that CBN’s FX management policy was hurriedly put together without proper plans and consultations with stakeholders and that the apex bank is hamstrung by Tinubu’s government in implementing a sound FX management policy’ that would have dealt with such issues as increasing liquidity, curtailing or regulating demand, dealing with FX backlogs, and rate convergence.’

“Contrary to former VP Atiku’s claim, Cardoso’s CBN is implementing a raft of policies to stabilise the naira and end volatility in the market, and this is already yielding some positive results,” he added.

The Presidency also highlighted numbers from the National Bureau of Statistics for Q4 2023, which claimed that Nigeria had a 66.27 percent rise in capital inflows compared to Q3 before Cardoso started at the CBN—in Q3, capital inflows were $654.65 million and increased to $1.09 billion in Q4.

“Atiku will agree that the rise in capital inflow suggests massive investors’ confidence in Nigeria and the policy direction of the Tinubu administration,” it argued.

As a result, it stated that, when compared to the policy alternatives being implemented by the CBN, Atiku’s alternative of restricted Naira flotation is similar to Godwin Emefiele’s strategy.

In response to Atiku, the APC’s National Publicity Director, Ibrahim, claimed Emefiele was a product of the PDP government.

He said, “Whatever crisis the financial institutions in Nigeria are facing or whatever the country is facing with regards to forex, it is the offshoot of the PDP policy that is manifesting in Nigeria today. Whatever blame is apportioned for the forex challenges we are having, the larger part of it should go to the PDP for producing Godwin Emefiele as governor of the Central Bank of Nigeria.”

Atiku’s FX solution will return Nigeria to Emefiele era – Onanuga

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Jubilation in Ogun Camp as 3,050 NYSC Members Receive ₦50,000 Palliative, 500 Mattresses

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Jubilation in Ogun Camp as 3,050 NYSC Members Receive ₦50,000 Palliative, 500 Mattresses

 

Abeokuta, Ogun State — There was widespread jubilation at the NYSC Orientation Camp in Ogun State on Wednesday following the announcement that 3,050 serving corps members will receive a one-off cash palliative of ₦50,000 to cushion the effects of the current economic hardship in the country.

 

The announcement, which was met with wild cheers and celebrations, comes as part of the state government’s efforts to support youths undergoing their mandatory one-year national service.

 

In addition to the cash disbursement, the Ogun State Government has also approved the immediate delivery of 500 mattresses to the camp to improve the living conditions of the corps members.

 

The news broke via a report by Pulse, detailing that the palliative is aimed at easing the financial burden on the young graduates, particularly in light of the rising cost of living and transportation across the nation.

 

Visuals from the camp showed corps members in their traditional white and green kits, raising their caps in excitement, a clear indication of the relief the financial support brings.

 

Speaking on the development, a camp official noted that the cash injection will go a long way in helping the corps members manage their daily expenses, including transportation to their Places of Primary Assignment (PPA) and personal upkeep.

 

The distribution of the ₦50,000 cash palliative and the provision of the 500 mattresses are expected to be rolled out in the coming days. The move has been widely commended by stakeholders who view it as a proactive step by the Ogun State Government to prioritize the welfare of youths serving in the state.

 

Jubilation in Ogun Camp as 3,050 NYSC Members Receive ₦50,000 Palliative, 500 Mattresses

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UNILORIN VC to graduates: Let this investment count

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UNILORIN VC to graduates: Let this investment count

 

ILORIN — The Vice-Chancellor of the University of Ilorin (UNILORIN), Professor Wahab Olasupo Egbewole, SAN, has urged graduating students to justify the sacrifices made by their parents, guardians and other stakeholders by using their education, knowledge and skills to solve societal problems and contribute meaningfully to national development.

 

Egbewole gave the charge in his address titled “Let This Investment Count!” at the university’s 41st Convocation Ceremony, where he congratulated the graduands and challenged them to translate the opportunities provided by university education into tangible benefits for themselves and society.

 

The Vice-Chancellor’s message placed emphasis on the responsibilities that come with obtaining a university degree, particularly the need for graduates to demonstrate that the time, money, energy and other resources invested in their education have produced meaningful results.

 

He called on the graduands to appreciate the contributions of their parents and guardians, whose sacrifices had helped them reach the milestone, while also recognising the efforts of the university’s academic and non-academic staff and other stakeholders in their educational journey.

 

According to the message of the address, the significance of graduation goes beyond receiving certificates and celebrating academic achievements. It also marks the beginning of a new phase in which graduates are expected to apply their learning, demonstrate discipline and integrity, and contribute to the development of their communities.

 

The charge comes at a time when Nigerian graduates face concerns over unemployment, changing workplace requirements and the need to acquire practical competencies that complement conventional academic qualifications.

 

Egbewole’s appeal therefore highlights the importance of ensuring that university education produces individuals capable of creating opportunities, addressing real-life challenges and adding value to their workplaces and communities.

 

16,152 students to graduate

 

The 41st Convocation Ceremony is expected to see the university graduate a total of 16,152 students for the 2025/2026 academic session.

 

The figure comprises 11,213 students receiving first degrees and 4,939 candidates earning higher degrees and diplomas.

 

Among the undergraduate graduands, 365 earned First-Class honours, while 4,367 obtained Second-Class Upper Division degrees. Another 5,102 graduated with Second-Class Lower Division degrees, 1,006 earned Third-Class degrees and 30 obtained Pass degrees.

 

The graduating class also includes students from several professional programmes, including Medicine and Surgery, Nursing, Pharmacy, Optometry, Physiotherapy and Veterinary Medicine.

 

The scale of the graduating class underscores the responsibility confronting the university and other stakeholders in ensuring that graduates are adequately prepared for the demands of employment, entrepreneurship, professional practice and further learning.

 

For the graduands, the Vice-Chancellor’s message serves as a reminder that the value of their qualifications will increasingly be demonstrated through their conduct, competence, creativity and contributions beyond the university environment.

 

Beyond certificates, emphasis on practical skills

 

The university has also placed increasing emphasis on equipping students with practical skills to complement their academic qualifications.

 

One of the initiatives highlighted ahead of the convocation is the University of Ilorin’s U-INSPIRE programme, through which 8,320 participants successfully completed training designed to strengthen their employability, entrepreneurial capacity and readiness for the demands of the modern workplace.

 

The programme was developed in collaboration with industry partners to help students acquire relevant competencies beyond classroom instruction.

 

At the graduation ceremony for the programme’s second cohort, Egbewole urged participants to move beyond academic certificates, develop practical capabilities and turn innovative ideas into sustainable businesses.

 

The initiative reflects a broader recognition that graduates need more than theoretical knowledge to thrive in an increasingly competitive economy.

 

Practical experience, problem-solving ability, creativity and the capacity to identify and respond to emerging opportunities are becoming important complements to formal qualifications.

 

The university’s efforts in this area provide additional context for the Vice-Chancellor’s appeal to graduands to make their educational investment count.

 

Parents, guardians and stakeholders share in the investment

 

The address also draws attention to the role played by parents, guardians and other supporters in the education of university students.

 

For many Nigerian families, sponsoring a child through university involves considerable financial and personal sacrifices, including the payment of tuition-related charges, accommodation, feeding, learning materials, transportation and other expenses.

 

Beyond financial contributions, families often provide emotional support, encouragement and guidance throughout their children’s academic journeys.

 

The successful completion of a degree is therefore not only a personal achievement for the graduand but also a milestone for the families and communities that supported the process.

 

The Vice-Chancellor’s call places a responsibility on graduates to honour those sacrifices by making responsible decisions, upholding ethical standards and applying their knowledge in ways that benefit others.

 

It also reinforces the need for graduates to recognise education as an opportunity to develop their potential and contribute to society, rather than merely as a means of obtaining certificates.

 

UNILORIN highlights institutional progress

 

The convocation also provides an opportunity for the university to showcase its academic and institutional achievements during the 2025/2026 session.

 

Ahead of the ceremony, Egbewole highlighted several developments, including the accreditation of 11 academic programmes, the expansion of campus transportation and the strengthening of research, innovation and institutional partnerships.

 

The university also disclosed that it received a ₦25 million award from the Joint Admissions and Matriculation Board in recognition of its compliance with admission regulations.

 

In addition, the institution announced the introduction of 12 compressed natural gas-powered buses and 20 electric tricycles to improve transportation within the campus.

 

The university has continued to pursue its Vision 1:10:500 aspiration, which seeks to make it Nigeria’s leading university, place it among Africa’s top 10 institutions and secure a position among the world’s top 500 universities.

 

The vision reflects the institution’s stated ambition to strengthen academic standards, research output, innovation, partnerships and its international standing.

 

Egbewole has also stressed the importance of continuity, responsible management of resources and collective commitment to sustaining institutional progress.

 

A new responsibility for graduands

 

As the graduands prepare to leave the university, the message of “Let This Investment Count!” places their future contributions at the centre of the convocation celebration.

 

Their degrees represent years of learning and assessment, but they also carry expectations from families, employers, communities and the wider society.

 

For those entering the labour market, the challenge will be to demonstrate the knowledge and skills acquired through their studies. For aspiring entrepreneurs, it will be to identify opportunities, develop viable ideas and create value. Others will pursue postgraduate education, professional development or careers in public service.

 

Whatever paths they choose, the central challenge is to make their education relevant to the needs of society.

 

The university’s 41st Convocation Ceremony, which runs from October 16 to 25, 2026, celebrates the achievements of its graduating students while providing an opportunity to reflect on the responsibilities that accompany higher education.

 

For the graduands, the message is clear: the completion of a degree is not the end of their journey but the beginning of a new responsibility to themselves, their families and society.

 

The ultimate measure of the investment in their education will be what they do with the knowledge, discipline and opportunities they have acquired.

 

 

UNILORIN VC to graduates: Let this investment count

 

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Mexico Clears Reno Omokri as Nigeria’s Ambassador After Eight-Month Wait

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Tinubu’s FBI records: Reno Omokri explains why President opposes release

Mexico Clears Reno Omokri as Nigeria’s Ambassador After Eight-Month Wait

 

The Mexican government has granted diplomatic approval for Reno Omokri’s appointment as Nigeria’s ambassador to Mexico, ending an eight-month wait for the confirmation of his posting by the host country.

Omokri disclosed this in a post on his X account on Tuesday, saying José Manuel Briseño Flores, chargé d’affaires of the Embassy of Mexico in Abuja, had delivered the diplomatic approval, known as agrément, to Babagana Wakil, Director of Protocol at Nigeria’s Ministry of Foreign Affairs.

The approval covers Omokri’s appointment as Ambassador Extraordinary and Plenipotentiary to Mexico, with concurrent accreditation to Guatemala, Honduras and Nicaragua.

“ To God be the glory, the Chargé d’affaires of the Embassy of the United Mexican States in Abuja, Mr José Manuel Briseño Flores, today in Abuja delivered the agrément from the Government of the United Mexican States accepting me,” Omokri said.

 

The development clears a major hurdle in the process of deploying the former presidential aide and political commentator to his diplomatic assignment, following months of uncertainty over the status of his appointment.

 

President Bola Tinubu had in March approved the posting of 65 ambassador-designates and high commissioners to various countries as part of efforts to strengthen Nigeria’s diplomatic representation abroad.

 

Omokri was among those named for ambassadorial postings, with Mexico designated as his principal country of assignment.

 

However, his deployment could not be concluded immediately because Mexico had yet to formally accept his nomination, a necessary step in the diplomatic appointment process.

 

Under established diplomatic practice, a government seeking to appoint an ambassador must obtain the receiving country’s agrément before the nominee can be formally deployed. The procedure allows the host country to indicate its acceptance of the proposed envoy.

 

In August, the Ministry of Foreign Affairs disclosed that Mexico and Japan were among the countries that had yet to communicate formal acceptance of two outstanding ambassadorial appointments.

 

The ministry said it was engaging the relevant authorities in the affected countries and expressed confidence that the outstanding approvals would be secured in due course.

 

Mexico’s decision now resolves the uncertainty surrounding Omokri’s posting, although the completion of any remaining formalities and the commencement of his diplomatic duties may still depend on the applicable procedures.

 

Omokri, a former aide to ex-President Goodluck Jonathan, is known for his political commentary and frequent interventions in Nigeria’s public discourse. His appointment forms part of the Tinubu administration’s wider effort to fill key diplomatic positions and strengthen the country’s engagement with foreign governments.

With the approval secured, attention will now turn to the completion of the remaining diplomatic formalities and his eventual assumption of duty in Mexico.

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