Uncategorized
Emefiele told us politics influenced naira redesign – Ex-CBN acting gov

Emefiele told us politics influenced naira redesign – Ex-CBN acting gov
Former Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, has said he learnt that there was politics in the naira redesign carried out in 2022 by the then Governor of the apex bank, Godwin Emefiele.
Shonubi, who was Deputy Governor (Operations) before his appointment as acting CBN governor, said Emefiele told him and others about the intrigues and politics in the exercise.
He made this claim as the prosecution third witness in his response to a question from Emefiele’s lawyer, Olalekan Ojo, at the resumed hearing on Thursday during the trial of the ex-governor of the CBN.
Emefiele is being prosecuted by the Economic and Financial Crimes Commission (EFCC) before the High Court of the Federal Capital Territory FCT (FCT) on four counts bordering on disobedience to the direction of law and illegal act causing injury to the public about the naira redesign.
Ojo had asked Shonubi if he was aware of the intrigues and politics in the naira redesign exercise.
The witness said he learnt from Emefiele, during one of their meetings, that there were indeed intrigues and politics in the exercise.
When asked if indeed there was presidential approval for the naira redesign, the witness said the defendant presented a document during one of the meetings of the CBN’s Committee of Governors (COG) containing the signature of the President.
Shonubi, however, said what the CBN under Emefiele produced after the naira redesign was different from what President Muhammadu Buhari approved.
He said the redesigned naira notes were launched by President Buhari, adding that he was not aware of a letter from the President complaining about the naira redesign.
Shonubi confirmed that he was invited once by the EFCC about the case and that he made statements.
He however said the EFCC did not have a physical confrontation between him and the defendant in respect of what was contained in his statements that related to him (the defendant).
While being led in evidence by prosecuting lawyer, Rotimi Oyedepo, earlier, the witness said what was produced by the CBN under Emefiele as the redesigned naira notes were not the same as approved by the President.
He said the memo presented to the President for the naira redesign was solely prepared by Emefiele and sent to the President.
He said the CBN, under Emefiele, did not follow its laid down procedures for currency redesign.
Shonubi, a member of the COG and CBN board, told the court that Emefiele killed the recommendation for a redesign as made by the currency management department in early 2021.
He said, “The CBN did not follow the procedures (for redesigning the currency). I was a member of the CBN board as deputy governor.
“The chairman of both the COG and board was the governor. In early 2021, the currency department recommended the redesign of the currency notes.
“A paper was presented to me, and on the instruction of the governor (Emefiele), it was stepped down.
“In 2022, we again represented the paper and were asked to hold on.
“In mid-October 2022, the deputy governors were invited to a meeting in the office of the governor where he (Emefiele) informed us that he had presidential approval for the currency redesign.
“He showed us the memo, Mr president’s signature and instruction on the last page.”
Politics
Updated: Atiku, Obi, El-rufai, others form coalition to unseat Tinubu

Updated: Tinubu reacts as Atiku, Obi, El-Rufai, others form coalition
Former Vice President Atiku Abubakar says he has formed a coalition with some prominent opposition leaders aimed at unseating President Bola Ahmed Tinubu in 2027.
Atiku made the declaration during a press conference in Abuja on Thursday, attended by several opposition politicians, including former key members of the All Progressives Congress who have since defected.
But the Tinubu-led administration has reacted saying the coalition was driven by hate and not genuine.
The event was convened to address President Bola Ahmed Tinubu’s declaration of a state of emergency in Rivers State.
Among those present at the event were the 2023 Labour Party’s presidential candidate, Peter Obi, who was represented by Dr Yunusa Tanko; former Secretary to the Government of the Federation (SGF), Babachir Lawal; and former Governor of Kaduna State, Nasir El-Rufai.
Others are a former governorship aspirant in Ogun State, Segun Sowunmi; former Director General of Progressive Governors Forum (PGF), Dr Salihu Lukman; Alhaji Adamu Maina Waziri, Chief Peter Ameh and Soni Monidafe, among others.
When asked whether the emerging coalition would serve as the main opposition against the APC in the 2027 elections, Atiku said, “Yes, this is the birth of the coalition of opposition ahead of 2027.”
Many are wondering how leaders with differing ideologies, ambitions, and party affiliations can work together.
In his reaction, spokesperson for the Tinubu-led government, Bayo Onanuga, in a statement referred to the Abubakar-led coalition as “the coalition of Tinubu haters.”
“They are not politicians after the public good. It’s all about their self-interest. They are disgruntled. They are a frustrated lot. The leaders are sore losers. The coalition is an amalgam of Tinubu haters. Their agenda is to stop Tinubu,” Onanuga said.
The presidential spokesperson added that Tinubu remained focused on governance and would not be distracted by a coalition of politicians driven by selfish interests.
Politics
Senate, Reps okay President Tinubu’s emergency rule in Rivers State

Senate, Reps okay President Tinubu’s emergency rule in Rivers State
The Senate and the House of Representatives on Thursday separately approved President Bola Tinubu’s proclamation of the state of emergency in Rivers State.
They however mandated a review of the situation at any time, but not later than six months.
The National Assembly also imposed a joint committee of both chambers to oversee the administration of affairs in Rivers State during the emergency period.
The Senate resolved to establish a mediation committee consisting of eminent Nigerians to help resolve the state’s political crisis.
The House of Representatives was the first to approve the declaration of a state of emergency in Rivers.
In a voice vote, the lawmakers backed Tinubu’s decision, two days after the President made the move.
A total of 240 House of Representative members attended the preliminary which was presided over by Speaker Tajudeen Abbas.
While deliberating on the decision, the House made some amendments including that a committee of eminent Nigerians would be set up to mediate on the matter.
They also noted that the National Assembly is empowered to make law for a state where its house of assembly is unable to perform its functions.
This contradicts the Federal Government’s plan for the Federal Executive Council to take up that duty.
On Tuesday, President Tinubu wielded the big stick in Rivers, declaring a state of emergency in the state.
He also suspended Rivers State Governor, Siminalayi Fubara; his deputy, Ngozi Odu, and members of the Rivers State House of Assembly for six months and appointed a sole administrator to take charge of the state.
Legal experts, governors, and prominent Nigerians including Atiku Abubakar, Peter Obi to have condemned the proclamation, demanding a reversal.
However, the Federal Government has doubled down on Tinubu’s decision and argued that it was needed to bring peace to the oil-rich state.
metro
Natasha: Protesters at UN House demands evidence of allegation

Natasha: Protesters at UN House demands evidence of allegation
A civil society organisation, Women for Change Vanguard, yesterday held a peaceful protest at the United Nations House, in Abuja, urging Senator Natasha Akpoti-Uduaghan to provide concrete evidence to prove her sexual harassment allegation against Senate President Godswill Akpabio.
The group, led by Mrs Irene Imoh, expressed concern over the damage that has been caused by ‘unsubstantiated allegations’ against public figures in the country.
Imoh stated that while accountability was critical in cases of sexual harassment, allegations must be thoroughly scrutinised to prevent misuse of such claims.
“We gather here today at the esteemed UN House to express our support for His Excellency, the President of the 10th Senate, Senator Godswill Akpabio. Over the past few weeks, he has faced significant reputational damage due to unsubstantiated allegations of sexual harassment made by his colleague, Senator Natasha Akpoti-Uduaghan.”
She emphasised the importance of providing evidence when making such weighty allegations of sexual harassment, noting that the burden of proof lies with the accuser.
READ ALSO:
- Plot to impeach Fubara thickens
- Shell wraps up Nigeria onshore business sale, to focus on deepwater
- BREAKING: Appeal Court stops Sanusi’s reinstatement as Kano emir
“It is important to remember that in any allegation of misconduct, the burden of proof lies with the accuser. If Senator Natasha claims to have been a victim of sexual harassment, we urge her to come forth with credible evidence to support her accusations. The gravity of such claims demands accountability.”
The group also warned against the potential misuse of sexual harassment allegations, expressing concerns about the #BelieveAllWomen movement being applied without due process.
“We are particularly troubled by the growing trend of misusing the #BelieveAllWomen mantra, which can inadvertently shield unfounded accusations against men. This is not the first time Senator Natasha has made serious allegations against a prominent figure. Such actions risk becoming a weapon she wields against men in power, undermining the core principles of our fight against sexual violence.”
The Women for Change Vanguard stressed that false or unverified accusations not only harm the accused but also weaken the credibility of real victims of sexual abuse.
The group further stated that their protest was not just about supporting Akpabio but about ensuring that both parties are held accountable.
“Our peaceful protest today is not merely about demanding justice, it is also about holding both parties accountable. Senator Akpabio must have the opportunity to clear his name, while Senator Akpoti-Uduaghan must show evidence that she was sexually abused.”
Chanting solidarity songs, the protesters carried placards with inscriptions, such as, “We believe in actual victims of sexual harassment not people who weaponise it” and “The burden of proof lies with the accuser”, among others.
The protesters, who submitted a petition to the UN were received by the UN Senior Human Rights Advisor, Adwoa Kufuor, who promised to channel their grievances to senior UN officials.
Natasha: Protesters at UN House demands evidence of allegation
-
International2 days ago
UK announces new passport application fees starting April 2025
-
Auto2 days ago
Lanre Shittu Motors offers support for EV bus design competition in universities
-
metro3 days ago
Ibas: 18 things to know about Rivers administrator
-
metro3 days ago
Soldiers take over Rivers Government House after state of emergency declaration
-
metro3 days ago
Pipeline explosion hits Bayelsa amid Rivers state emergency declaration
-
metro2 days ago
Court lifts order stopping Senate probe on Natasha Akpoti
-
metro2 days ago
Tanker explodes on Abuja bridge, many feared dead, 30 vehicles burnt
-
metro2 days ago
Mohbad’s brother, Adura, arrested by police in Lagos