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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 Arrest 22-Year-Old Over Alleged Rape of Minor in Oyo State

Published

5 hours ago

December 31, 2025

Trends Admin

Oyo State Police Public Relations Officer, DSP Ayanlade Olayinka

Police Arrest 22-Year-Old Over Alleged Rape of Minor in Oyo State

The Oyo State Police Command has confirmed the arrest of a 22-year-old man over the alleged rape of a 17-year-old girl, describing the action as part of its sustained efforts to protect residents and uphold the law.

In a press statement released on Tuesday, the Command disclosed that the case was reported on December 25 at about 7:00 p.m. at the Alakia Adelubi Police Division.

The statement, signed by the Police Public Relations Officer, DSP Ayanlade Olayinka, on behalf of the Commissioner of Police, said officers received a complaint involving an alleged sexual assault on a minor.

According to preliminary investigations, the suspect, identified as Daniel Ajibola, allegedly committed the act after administering an intoxicating drink to the victim. Police authorities stated that the suspect admitted to the offence during interrogation.

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“The victim was promptly taken to a hospital for medical examination, while the scene of the incident was visited, and the suspect was arrested and taken into custody,” the statement said.

Given the seriousness of the allegation, the Commissioner of Police, Oyo State Command, ordered that the case be transferred to the State Criminal Investigation Department (SCID) for discreet and thorough investigation.

The Commissioner warned that the Command would not tolerate violence against women or crimes against any member of society, adding that the suspect would be charged to court upon the conclusion of investigations.

He also expressed appreciation to the Inspector-General of Police for his leadership and continued support, which he said has strengthened the Command’s resolve to maintain law and order.

Reiterating its commitment to the protection of lives and property in Oyo State, the Police urged residents to provide credible information to aid crime prevention and detection. The Command also released emergency contact lines, including the Oyo State Call Response Center (615) and Control Room numbers 08081768614 and 07055495413.

Police Arrest 22-Year-Old Over Alleged Rape of Minor in Oyo State

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Army Rescues Over 1,000 Kidnap Victims, Destroys Bandit Camps Across North-West

Published

6 hours ago

December 31, 2025

Trends Admin

Nigerian military troop

Army Rescues Over 1,000 Kidnap Victims, Destroys Bandit Camps Across North-West

More than 1,000 Nigerians abducted by bandits across the North-West have regained their freedom as troops of the Nigerian Army’s 8 Division intensified a sustained military offensive that has dismantled criminal strongholds, killed notorious bandit leaders, and recovered large caches of arms.

The scale of the success was disclosed in Sokoto during the 2025 West African Social Activities (WASA), where the General Officer Commanding (GOC) 8 Division, Maj-Gen Ibikunle Ajose, said operations under Operation FASAN YAMMA have significantly weakened bandit networks operating in Sokoto, Zamfara, Katsina and Kebbi states.

According to the Army, from January 2025 to date, troops recovered 189 AK-47 rifles, over 4,300 rounds of ammunition, 305 motorcycles, and more than 4,000 rustled livestock, while 1,023 kidnapped victims were rescued from forests and hideouts previously considered inaccessible.

Maj-Gen Ajose said several feared bandit leaders were neutralised during aggressive operations, forcing criminal gangs to flee or abandon their camps.

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“Communities that were previously under siege are breathing again. Farmers are returning to their fields and traders are moving goods freely with a renewed sense of safety,” he said.

He attributed the success to the deployment of special forces units trained for rapid strike-and-destroy missions, which enabled troops to strike bandit enclaves with speed and precision.

The disclosure came during the annual WASA celebration at the 8 Division Headquarters, a tradition that allows troops to unwind after months of frontline operations. Beyond the cultural displays, the event highlighted the sacrifices made by soldiers and their families in the fight against banditry and insecurity.

Representing Sokoto State Governor, Dr Ahmed Aliyu, the Special Adviser on Security, Col Ahmed Abdul Usman (rtd), commended the Army for restoring relative peace across the region and pledged continued state support.

“The government stands firmly with the military to ensure our communities remain safe,” he said.

Maj-Gen Ajose also revealed that the Army is prioritising troop welfare, with renovated barracks, upgraded medical facilities, and additional health personnel deployed to support soldiers and their families.

While the Army insists the fight against banditry is not yet over, the destruction of camps, seizure of weapons, and mass rescue of abducted civilians have renewed hope among residents that the tide of insecurity in the North-West may finally be turning.

Army Rescues Over 1,000 Kidnap Victims, Destroys Bandit Camps Across North-West

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Bandits Attack Omi-Ara Community in Kogi, Abduct Several Residents

Published

6 hours ago

December 31, 2025

Trends Admin

Kogi State Police Public Relations Officer, CSP William Ovye Aya

Bandits Attack Omi-Ara Community in Kogi, Abduct Several Residents

Suspected bandits have reportedly abducted an undisclosed number of residents following a violent attack on Omi-Ara community in Yagba West Local Government Area of Kogi State.

The attack, which occurred in the early hours of Tuesday, threw the community into panic, as residents said the exact number and identities of those abducted were yet to be ascertained at the time of filing this report.

According to locals, security agencies have been alerted to the incident, but the Kogi State Police Command had not issued an official statement. Repeated attempts to reach the Police Public Relations Officer, CSP William Aya, were unsuccessful, as calls went unanswered and text messages were not responded to.

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The latest incident adds to growing concerns over insecurity in the Yagba axis, which has emerged as a kidnapping hotspot in recent months. Between August and November, armed attackers reportedly invaded two churches—a Cherubim and Seraphim Church and an ECWA Church—during which a pastor and his wife were abducted.

In another related incident, suspected bandits attacked Odo-Ere community, also in Yagba West LGA, on Sunday night, abducting at least four residents.

Residents have continued to call on the government and security agencies to step up efforts to curb the rising wave of banditry and kidnappings in the area.