CBN building economy for everyone to thrive – Cardoso begs for patience - Newstrends
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CBN building economy for everyone to thrive – Cardoso begs for patience

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CBN Governor, Olayemi Cardoso

CBN building economy for everyone to thrive – Cardoso begs for patience

Governor, Central Bank of Nigeria, Mr. Olayemi Cardoso has advised Nigerians against leaving the country (Japa). He assured that the apex bank is building an economy where everybody and business can thrive.

Cardoso gave this advice in a keynote address at the 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos.

He said: “It is not a good idea to japa at this stage.

“Two reasons. One, those who may decide they are going to do that, they will sell and get rid of their assets.

“You’ll be doing it for cheap. Predators, who are outside looking for bargains, will come and take it and pocket it, put it in their pocket and wait for the turnaround and sell it away.

“Number two, you want to be part of the solution. You want to be part of the solution, and this is time that we need all hands on them.

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“There are opportunities in the market today, which I must say, from my experience over the past year and also for the past six months, a lot of interest from the outside in what is going on in Nigeria

“In taking positions in certain assets, so they see the opportunity, and we, who are here, should be part of the solution for the better things which will come.”

While acknowledging the severe impact of the reforms on Nigerians, Cardoso said the reforms are focused on tackling challenges of today and  on securing the opportunities of tomorrow with the aim of building an economy where everybody thrives.

CBN building economy for everyone to thrive – Cardoso begs for patience

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Alleged fake agency DG says he borrowed ₦400m to secure appointment

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Alleged fake agency DG says he borrowed ₦400m to secure appointment
Prince Adeniyi Adeyemi Matthew

Alleged fake agency DG says he borrowed ₦400m to secure appointment

The controversy surrounding the disowned Presidential Foreign Investment Promotion Council (PFIPC) took a fresh twist on Monday as Prince Adeniyi Adeyemi Matthew, who claims to be the agency’s Director-General, alleged that he borrowed ₦400 million to secure his appointment and that his creditors have now petitioned the Economic and Financial Crimes Commission (EFCC) to recover the money.

Adeyemi made the claim during an interview on Channels Television’s Politics Today, insisting that the funds used to obtain the appointment were sourced through loans rather than from his personal finances.

According to him, those who provided the money have become impatient over the prolonged controversy surrounding the agency and have formally reported the matter to the EFCC in a bid to recover their funds.

“I borrowed this money. In fact, those that I borrowed this money from have reported to the EFCC. I borrowed this money to pay for this appointment. They have written to the EFCC, asking me to refund their money. So, I’m not even here to pay the money back. I borrowed this money,” he said.

The latest disclosure comes weeks after Adeyemi accused Chief of Staff to the President, Femi Gbajabiamila, of allegedly receiving ₦400 million through an intermediary to facilitate his appointment as Director-General of the PFIPC.

He had also alleged that an additional ₦200 million was later demanded from him and claimed that influential individuals sought a substantial share of the agency’s proposed take-off funds.

Gbajabiamila has strongly denied the allegations through his lawyers, describing them as false, malicious and defamatory.

His legal team has demanded an immediate retraction and public apology from Adeyemi, warning that failure to comply could result in a ₦10 billion defamation lawsuit.

During the interview, Adeyemi maintained that he was being unfairly portrayed as the architect of an elaborate fraud despite operating openly for several years.

“Imagine the government claiming I manoeuvred the whole system. It’s unfortunate,” he said.

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He also dismissed reports suggesting that he was seeking political asylum abroad or planning to flee Nigeria to evade investigation.

According to Adeyemi, he only became aware of reports linking him to a United States lobbying firm through media publications and insisted he has no intention of leaving the country.

“I read it the way you read it. Some people called me saying they were looking for me,” he said.

He further alleged that coordinated efforts had been made to shut down his social media accounts, limiting his ability to respond to allegations made against him.

“They pulled my social media handle down, and they still reported that I was about to run away out of Nigeria. I’m still in Nigeria. I’m not going anywhere,” he stated.

The PFIPC controversy began after the Presidency, in a statement issued on June 11, categorically disowned the council, declaring that no such agency exists under the administration of President Bola Ahmed Tinubu.

The Presidency subsequently described Adeyemi as an impostor and alleged that he forged presidential appointment documents purportedly signed by the Chief of Staff.

Investigators also alleged that he operated a fictitious government agency using forged official documents and insignia.

According to security agencies, preliminary investigations revealed that Adeyemi allegedly maintained 34 bank accounts, including nine reportedly opened in the names of non-existent government agencies, raising concerns over possible financial crimes, impersonation and forgery.

Despite the government’s position, Adeyemi has continued to insist that his appointment was legitimate.

He argued that he operated publicly for nearly three years without objection, held meetings with senior officials of several Ministries, Departments and Agencies (MDAs), engaged foreign investors and interacted with officials of institutions such as the Ministry of Foreign Affairs and the EFCC.

Adeyemi said these engagements reinforced his belief that the council was a legitimate government institution.

The controversy deepened after reports indicated that the PFIPC appeared in the 2026 Appropriation Act with a budgetary allocation despite the Presidency’s insistence that the agency had never been legally established.

The development prompted President Bola Ahmed Tinubu to direct the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate how the agency was included in the federal budget and identify those responsible for the alleged irregularities.

While the ICPC investigates the budgetary aspect of the matter, the Nigeria Police Force continues its probe into allegations of forgery, impersonation and related offences involving the purported agency.

The EFCC is also expected to examine Adeyemi’s latest claims after he disclosed that his lenders had formally petitioned the anti-graft agency over the alleged ₦400 million loan.

Legal analysts say the multiple investigations could determine whether criminal offences were committed and expose any weaknesses in government appointment verification and budgetary processes.

Meanwhile, the Presidency has reiterated that only agencies created through lawful procedures and officially recognised by the Federal Government are authorised to operate, urging Nigerians to verify the authenticity of government institutions before engaging with them.

Alleged fake agency DG says he borrowed ₦400m to secure appointment

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Publisher arraigned over alleged false reports claiming Gov Soludo disowned son

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Publisher arraigned over alleged false reports claiming Gov Soludo disowned son

Publisher arraigned over alleged false reports claiming Gov Soludo disowned son

The Anambra State Police Command has arraigned Ejike Ofoegbu, the alleged owner and publisher of Igbo Times Magazine and iNews, before a competent court over allegations of publishing false and defamatory reports targeting Anambra State Governor Chukwuma Soludo and his family.

The suspect was arraigned on Monday, July 13, after the police concluded investigations into a petition accusing him of disseminating fabricated information capable of damaging the governor’s reputation and inciting public disaffection.

According to the Police Public Relations Officer (PPRO), SP Tochukwu Ikenga, the suspect was handed over to the police by the Department of State Services (DSS) in Awka after preliminary investigations before the matter was transferred to the police for further action.

The police said the case centred on a series of viral social media posts allegedly published by Ofoegbu, which falsely claimed that Governor Soludo had publicly disowned his son, Ozonna (Ozo) Soludo, while also attributing several fabricated statements to both father and son.

Among the posts cited by investigators was one that falsely quoted Governor Soludo as saying, “I will arrest anyone who calls Ozo my son. He is not my son. I disowned him years ago, and he is no longer a member of the Soludo family.”

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Another publication falsely alleged that Ozonna described his father as “a drunkard” who abused his mother during his childhood, while a separate post claimed the governor jokingly said his son was “ordered from Temu” and was “Chinese-made” rather than his biological child.

Investigators also referenced another publication that falsely attributed a statement to Ozonna claiming his father could defeat the Minister of the Federal Capital Territory, Nyesom Wike, in a drinking competition because of his alleged drinking capacity.

The Anambra State Police Command described the publications as fabricated, malicious and capable of misleading members of the public while causing reputational damage to the governor and his family.

During police investigations, the suspect reportedly admitted responsibility for the publications, retracted the statements and issued a public apology to Governor Soludo.

Despite the apology, the police said the alleged offences had already been committed, making prosecution necessary in line with existing laws governing false publications, cyber-related offences and defamation.

SP Ikenga disclosed that the court subsequently ordered that the defendant be remanded in a correctional centre pending the next hearing in the case.

The police reiterated their commitment to combating fake news, cybercrime and other offences involving the deliberate spread of false information capable of undermining public peace, damaging reputations or inciting unrest.

The command also advised journalists, bloggers, digital publishers and social media users to verify information before publication, stressing that freedom of expression must be exercised responsibly and within the limits of the law.

The case highlights growing efforts by law enforcement agencies to curb online misinformation and hold individuals accountable for the publication of false and defamatory content on digital platforms.

Publisher arraigned over alleged false reports claiming Gov Soludo disowned son

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Dalung visits family of lynched Kaduna Islamic teacher, demands justice beyond sympathy

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Dalung visits family of lynched Kaduna Islamic teacher, demands justice beyond sympathy
Former Minister of Youth and Sports Development, Solomon Dalung

Dalung visits family of lynched Kaduna Islamic teacher, demands justice beyond sympathy

Former Minister of Youth and Sports Development, Solomon Dalung, has called for swift justice over the killing of Malama Ummulkhairi Usman Aliyu, the Islamic teacher who was lynched by a mob in Mararaban Jos, Igabi Local Government Area of Kaduna State, insisting that justice for the deceased must extend beyond condolences and government promises.

Dalung made the call after paying a condolence visit to the bereaved family, where he met with the deceased’s husband, Mallam Aliyu Muhammed, and their four children.

In a statement shared on his Facebook page on Monday, the former minister described the incident as a heartbreaking tragedy that has left a family devastated and raised serious concerns about the growing menace of mob justice in Nigeria.

“I paid a condolence visit to the family of the late Malama Ummulkhairi Usman Aliyu, the innocent Islamic teacher whose life was brutally cut short by a mob in Mararaban Jos, Kaduna State,” Dalung said.

He added that he spent time listening to the deceased’s husband recount the painful events surrounding the incident and also interacted with their children, who are now left to cope with the loss of their mother.

Malama Ummulkhairi was reportedly attacked and killed on June 21, 2026, after she was falsely accused of attempting to kidnap children while asking for directions to an Islamic lesson in Mararaban Jos.

Eyewitness accounts indicated that despite repeatedly explaining her mission and pleading for mercy, an angry mob allegedly beat her, stoned her and eventually set her ablaze before security operatives could intervene.

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The killing sparked nationwide outrage, with religious organisations, human rights advocates and civil society groups condemning the attack as a grave violation of the rule of law and calling for justice for the deceased.

Among those that condemned the incident was Jama’atu Nasril Islam (JNI), which described the killing as one of the darkest examples of lawlessness and urged authorities to ensure that those responsible are prosecuted.

Following investigations by security agencies, Kaduna State Governor Uba Sani disclosed that 71 suspects have been arraigned in connection with the killing.

According to the governor, 41 suspects are facing charges of culpable homicide, while another 30 suspects have been charged with unlawful assembly over their alleged involvement in the mob attack.

Governor Sani also announced that the Kaduna State Government would provide welfare support for the deceased’s husband and sponsor the education of her four children, describing the killing as barbaric and unacceptable.

He reaffirmed his administration’s commitment to ensuring that everyone found culpable is brought to justice.

While acknowledging the Kaduna State Government’s support for the bereaved family, Dalung maintained that sympathy alone cannot substitute for justice.

“While I acknowledge the steps already taken by the Kaduna State Government, including its commitment to support the welfare and education of the children, justice cannot stop at sympathy alone.

“The prosecution of those responsible must be pursued diligently until its logical conclusion. Anything less would diminish the value of human life and embolden those who believe they can act with impunity,” he said.

He urged prosecutors and the judiciary to ensure that the criminal trial proceeds without unnecessary delays, stressing that accountability would serve as a deterrent against future acts of mob violence.

The former minister also appealed to the Kaduna State Government to explore all lawful avenues available to provide justice and relief to the deceased’s family, including the consideration of diyya (blood compensation) where applicable under Nigerian law and recognised Islamic principles.

According to him, while financial compensation cannot replace a wife or mother, it could provide some support for the family left behind.

“No amount of compensation can replace a wife or restore a mother to her children, but acknowledging this responsibility would provide some measure of justice and relief to a family whose loss can never truly be quantified,” he said.

Dalung warned that the increasing cases of mob justice across Nigeria pose a serious threat to human rights, public safety and confidence in the country’s justice system.

He stressed that every Nigerian, irrespective of religion, ethnicity or social status, is entitled to a fair hearing under the Constitution.

“The moment we permit the mob to become judge, jury and executioner, we place every innocent citizen at risk,” he stated.

He called on governments, traditional rulers, religious leaders and community groups to intensify public enlightenment campaigns against jungle justice while strengthening public confidence in lawful dispute resolution mechanisms.

Dalung prayed for Allah to forgive the late Malama Ummulkhairi, grant her Aljannatul Firdaus, and comfort her husband, children and other family members.

He concluded by reiterating that “justice delayed must not become justice denied.”

Dalung visits family of lynched Kaduna Islamic teacher, demands justice beyond sympathy

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