News
DSS quizzes Embattled CBN gov, Emefiele, 10 board members, others over forex
The embattled Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, the other 10 members of the apex bank’s Board of Directors, including the four deputy governors and six non-Executive Directors as well as Chief Executive Officers/Managing Directors of 27 commercial banks in the country, were at the weekend summoned by the Department of State Services.
They are all expected to appear before the DSS today (Monday) to answer further questions on forex allocations from 2017 to date.
Emefiele, as the Chairman of the apex bank’s Board of Directors, is to lead other members of the Board to the DSS headquarters in Abuja today.
The CBN Board of Directors is statutorily empowered to deliberate and approve forex allocations based on requests, before disbursement.
However, DSS’ investigated of the forex allocations, it was gathered was necessitated by the shocking discovery that forex allocations meant for particularly people in business and investments were not getting to those who really needed and applied for it, rather it had been ending up in the pockets of few privileged, influential and highly placed individuals, including Presidency officials and their acolytes.
It was gathered that preliminary report on forex allocations in the past six years under Emefiele as CBN Gov “is very shocking,” and according to a reliable source, “Nigerians as well as the international community will be surprised at what has been discovered.”
However, it was gathered that the CBN Gov may not honour the DSS invitation and may not visit the secret police headquarters along with the other directors of the apex bank and the commercial bank CEOs today.
Recall that last Wednesday, Emefiele, through a Civil Society Organisation, Forum for Accountability and Good Leadership, obtained a nocturnal fresh court injunction from a Federal Capital Territory High Court restraining the DSS from questioning and obtaining any information from CBN officials and the CEOs of the 27 commercial banks regarding Foreign Exchange allocations from 2017 to date. First News obtained a copy of the court order granted by the Presiding Judge, Justice SB Belgore, who adjourned hearing of the motion on notice on the matter till January 25.
The embattled CBN Gov’s major reason for rushing to court at night last Wednesday, First News learnt, was to stop the commercial banks from releasing the details about forex allocations to the DSS.
But unknown to him, the DSS had, before the court granted the order, questioned and obtained documentary evidence from his deputies at CBN as well as from the 27 bank CEOs on forex allocations in the past six years, as several of the banks had also fully complied with the DSS’ request before the Wednesday night injunction was granted by Justice Belgore.
Following his discovery that most of the commercial banks had complied with the DSS’ request on information concerning the matter, apprehensive Emefiele summoned the banks’ MDs to Abuja for a “crucial meeting” last Saturday, where he “strategised” with them on how to deal with today’s invitation by the secret police.
At the Abuja meeting, First News reliably learnt, it was resolved that the remaining commercial banks that had yet to comply with the DSS’ request for information on forex allocations should “doctor their reports.”
It was further learnt from reliable sources that at today’s meeting with the DSS, the CBN officials and bank CEOs are to shed more light on the approvals of forex allocations to beneficiaries from 2017 to date.
They are also to submit the list of individuals and corporate organisations that have benefitted from the forex allocations so far.
The bank CEOs, it was further gathered, are also to supply the DSS a schedule of the investors and export window foreign exchange allocated to their individual banks from 2017 to date.
The commercial banks are to break the schedule into the amount of forex allocations given to them, list the name of the individual customer/or beneficiary and their purpose/criteria for getting the allocation.
They are also to supply the DSS the name of the authorised persons who allocated the forex and confirm whether it’s the CBN or the commercial banks themselves.
The commercial banks are also to give the secret police summary of the top 50 customers allocated the highest amount of forex and their order of importance.
Recall that the DSS had recently accused Emefiele of allegedly aiding and abetting terrorism, insisting that the CBN Gov must be prosecuted for the alleged crimes.
According to the secret police, preliminary investigations revealed Emefiele’s involvement in various acts of terrorism financing, fraudulent activities and economic crimes of national security dimension.
But the embattled CBN boss has continued to employ all means to escape arrest and interrogation by the DSS.
He recently delayed his return to Nigeria after a trip abroad. He was also said to have engaged some close associates of President Buhari to help him prevail on the DSS to let him off the hook.
The CBN governor is also alleged to have been employing propaganda through organised public protests and demonstrations by CSOs, all in a bid to stop his investigations by the DSS.
News
Lagos Assembly Power Struggle: GAC Poised to Unseat Speaker Meranda
The political turbulence in the Lagos State House of Assembly has taken a new turn as the Governance Advisory Council (GAC) moves to replace Speaker Hon. Mojisola Meranda, barely weeks after she assumed office.
This development follows the dramatic ousting of former Speaker Hon. Mudashiru Obasa on January 13, when 32 out of 40 Assembly members voted him out over allegations of fraud and abuse of power. While Meranda was quickly installed to restore stability, insiders suggest her leadership may be short-lived, as the ruling All Progressives Congress (APC) seeks a more politically strategic replacement.
A senior APC official revealed that Meranda was a stopgap choice, and the party leadership is now keen on restoring the Speaker’s position to Lagos West, where Obasa hails from.
To that effect, the GAC has drawn up a shortlist of eight lawmakers from Lagos West, out of which three will be nominated for the final selection: Hon. Setonji David (Badagry 2), Hon. Temitope Adewale (Ifako-Ijaye 1), Hon. Kehinde Joseph (Alimosho 1), Hon. Richard Kasunmu (Ikeja 2), Hon. Lukmon Olumoh (Ajeromi-Ifelodun 1), Hon. Age Sulaimon (Amuwo-Odofin 2), Hon. Surajudeen Tijani (Ojo 2) and Hon. Nureni Akinsanya (Mushin 2)
An anonymous lawmaker hinted at deeper political calculations at play.
“This isn’t just about Obasa’s removal; it’s about who controls the House and, by extension, Lagos politics. The APC leadership wants someone they can fully trust moving forward,” the lawmaker disclosed.
With GAC’s decision looming, tension remains high in the Assembly, as stakeholders brace for another potential shake-up in the state’s legislative leadership.
All eyes are now on the APC’s next move as the battle for control over Lagos’ most powerful legislative seat intensifies.
News
NLC Halts Planned Protest Over Telecom Tariff Hike, Sets Two-Week Deadline for Talks
The Nigeria Labour Congress (NLC) has put on hold its planned nationwide protest against the recent 50% increase in telecom tariffs approved by the Nigerian Communications Commission (NCC).
NLC President Joe Ajaero, speaking to journalists in Abuja, said the decision follows a meeting with federal government representatives at the Office of the Secretary to the Government of the Federation. He stated that the suspension allows for negotiations and the formation of a broader committee to review the entire tariff structure.
“We emphasized that the NLC is the largest organization in Africa, and no stakeholder consultation can exclude us and still stand. On that basis, they agreed to form a broader committee to ensure a fair and inclusive agreement,” Ajaero said.
The committee, comprising five representatives from both the government and the NLC, has been given two weeks to deliver its findings. The outcome will determine the next course of action, including the possibility of protests, boycotts, or service withdrawals.
With the NLC watching closely, all eyes are now on the committee’s deliberations to see if they will lead to a fair resolution—or if the labor movement will return to the streets.
News
Southeast Lockdown: Mass Sit-at-Home Signals Growing Secessionist Sentiment – USB’s Dr. Orabueze
A fresh wave of pro-Biafra agitation has taken center stage as the Deputy Prime Minister of the United States of Biafra (USB), Dr. Ngozi Orabueze, claims that widespread compliance with the Monday sit-at-home order across the Southeast and South-South regions is a sign that Biafrans have “rejected” the Nigerian government.
In a statement released on her official X account on Monday, Orabueze stated that 98 percent of the region’s residents voluntarily observed the stay-at-home directive, which has now run for over three years.
She described the ongoing protest as an “unofficial referendum” showcasing the people’s desire for self-determination.
“The voluntary Monday sit-at-home, agreed upon by almost 98 percent of citizens of the United States of Biafra today, February 3rd, 2025, recorded a massive success across the new state,” she said.
According to Orabueze, the continued protest strengthens the legitimacy of the USB under Simon Ekpa’s leadership while sending a strong message of discontent against the Nigerian state.
She vowed that the lockdown would persist until the release of IPOB leader Nnamdi Kanu and USB Prime Minister Simon Ekpa.
She further accused the Nigerian government of committing atrocities in the region, alleging that the military—under the directive of Defense Chief Christopher Musa and President Bola Tinubu—has been involved in extrajudicial killings.
“The Nigerian terrorist state continues to unleash violence on our people, but we are determined to defend Biafrans and ensure our freedom,” she added.
The sit-at-home protests, which began as a demand for Kanu’s release, have severely impacted economic activities in the Southeast, with businesses, transport systems, and markets shutting down every Monday.
While supporters hail it as a powerful act of resistance, critics warn that the continuous shutdown is crippling the region’s economy.
With rising tensions and no resolution in sight, the Biafra agitation remains a major challenge for the Nigerian government, which insists that the country’s unity is non-negotiable.
Meanwhile, Ekpa remains under scrutiny following his arrest in Finland last year, while Kanu remains in Nigerian custody since his controversial extradition from Kenya in 2021.
(Ends)
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