
News
Emefiele’s manner of removal smark of political revenge – Report
The manner in which Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), was removed from office was more of a political revenge than a reform agenda, says the Financial Times (FI) of London.
President Bola Tinubu had on June 9, suspended Emefiele as Governor of Nigeria’s apex bank. He was subsequently arrested by the Department of State Services and charged with illegal, unlawful possession of firearms, a charge that was later dropped.
Writing in an October 3rd editorial, FI noted that while the removal of the former apex bank Governor was overdue, but the process where he was initially charge with unlawful firearms’ possession, was odd and smark of political revenge.
Emefiele had in his deposition before a High Court in Lagos State, argued then that his suspension was a political vendetta.
According to the former apex bank Governor, his ordeal was not unconnected to the Naira redesign policy, which according to former President, Muhammadu Buhari, was intended to halt vote buying and restore sanity in the electoral process.
The editorial, also pointed out that four months into Tinubu’s administration, Nigerian economic reforms needed to regain momentum as there are signs of things going awry.

It reads: “Bola Tinubu, Nigeria’s new president, started off with a bang. In removing a costly fuel subsidy andin shifting towards a market-driven exchange rate,which has sharply weakened a previously overvalued currency, he has gone some way towards persuading investors he is serious about reform. But four months into his presidency, there are signs of things going awry.
“The new president moved quickly to raise expectations. In his inauguration speech in May, he used five words — “the fuel subsidy is gone” — to scrap a policy that had cost the Treasury $10bn in 2022. Previous administrations had tried, and failed, to remove it.
“His instincts were right. Because Nigeria imports most of its refined petroleum products, the subsidy had become a licence for middlemen and crooks to profit from arbitrage. Middle class car owners were the biggest beneficiaries. Perversely, the higher the oil price, the higher the subsidy — and thus the greater the drain on the Treasury.
“Now that the government is $10bn better off, it needs to explain how it is going to use the money to improve people’s lives. It could make direct payments to the most vulnerable or set out plans to bolster public services such as health and education. So far, it has been silent.
“Tinubu has not done nearly enough to explain the rationale of apolicy that, to many Nigerians, seems like the withdrawal of the only thing the state had ever done for them. As petrol prices rise, millions of people — already under pressure from rising food prices — are having to walk miles to work.
“Changes at the central bank are similarly half-cooked. The removal of Godwin Emefiele, the previous governor, was overdue. But its manner, initially via a charge of firearms’ possession, was odd and smacked of political revenge.
“More substantively, the new exchange rate regime has yet to be properly explained. After a signal was given in June that banks could bid freely for foreign currency, the naira fell nearly 30 percent, pushing inflation up still further to an 18-year high of nearly 26 percent. Still, the move to a more realistic exchange rate was a vital step in persuading investors that they could obtain dollars, either to invest in manufacturing inputs or to repatriate as profits.
“But dollar liquidity has since tightened as investors seek to clear a backlog of $7bn in previously unsatisfied demand. After a convergence of the official and black market rate, a gulf has reopened: the parallel rate has fallen to N1,000 versus an official rate of N785. Opacity about the true level of net foreign reserves — by one estimate as low as $4bn — has exacerbated the problem. So has Nigeria’s inability to sell its full Opec quota because of chronic oil theft. Curbing the looting of Nigeria’s patrimony is one of Tinubu’s most urgent tasks.
“The Senate confirmation last week of Olayemi Cardoso as central bank governor may steady the ship at that institution. Markets consider Cardoso, a former Citibank Nigeria chair, to be a sound appointment. (The same cannot be said of all of Tinubu’s picks.) The incoming governor will probably need to raise rates at the next policy meeting to establish his inflation-busting credentials. It is vital that Tinubu restores institutional independence by leaving the bank to get on with its job.
“In other areas the president needs to be more active — and more articulate. He should spell out his policies to a sceptical public. He should also refrain from announcing plans — including the restoration of democracy in Niger — without any real idea of how to implement them. Execution is key. Only four months into his presidency, what started out with a bang risks becoming a whimper. Tinubu needs to regain the momentum.”
News
Obi donates N10 million to burnt hospital in Enugu
Presidential candidate of the Nigeria Democratic Congress (NDC) in the forthcoming 2027 general election, Mr. Peter Obi, has donated N10 million to assist in the renovation of the burnt Mother of Christ Specialist Hospital, Enugu State.
The former Anambra State governor handed over the cheque for the donation to the hospital management team when he visited the hospital yesterday.
The hospital belongs to the Reverend Sisters of the Immaculate Heart of the Catholic Church.

Mr Peter Obi inspecting the burnt hospital
Addressing the hospital management team after inspecting parts of the burnt hospital, the NDC presidential candidate commended them for their efforts in contributing to healthcare delivery services.
Telling them that even though they might feel that they were not being appreciated for what they were doing, Obi, however, described healthcare delivery services and education as among the “most critical needs of society” and urged them not to relent in what they were doing.

Accompanied during the visit by his Chief of Staff, Commissioner for Housing, as well as Special Adviser on Media when he was Anambra State governor, Prof. Stella Okunna, Prof. Patrick Obi, and Dr. Valentine Obienyem respectively, Obi assured the hospital management team that he would continue to support them.
Part of the hospital gutted by the inferno and inspected by Obi was the Children’s Ward.
Expressing gratitude on behalf of the hospital management, the Chief Medical Director of Immaculate Heart Hospital, Nkpor, Anambra State, Rev. Sister Dr. Maria Nkiruka Okafor, eulogised Obi for his sacrifices and selfless contributions to humanity.
Disclosing that Obi had already credited the hospital’s accountant with the N10 million donation and that he was even the person who called her to inform her that he had received the sad news of the inferno and promised to donate towards the renovation, Rev. Sister Okafor described him as a rare politician.
She prayed that God would grant him his ambition to become President of the country and enable him to achieve his desire to transform it.
News
FG, Enugu State target direct China-Enugu Cargo flights by December – Keyamo
The Federal Government and Enugu State Government are in talks to ensure the commencement of direct cargo flight operations between Enugu and Guangzhou, China, before the end of the year.
The Minister of Aviation and Aerospace Development, Barr Festus Keyamo, disclosed this in Lagos during the launch of the United Air’s newly acquired airplanes on Thursday.
The Minister added said the FG had affected a structural management overhaul at the Akanu Ibiam International Airport, also bringing the airport under a privately run operational framework.

Enugu Airline
“One of our prides in the South is the Enugu International Airport. The Enugu governor approached Mr. President, noting that the airport was not maximising its economic potential under standard bureaucratic structures, and requested to bring in private investors to run it. Mr. President gave the green light.
“As I speak with you, Enugu is now fully privately owned and fully supported by state government, with the clear objective of also turning it into a dedicated cargo hub for the entire Southeast.”

To this effect, therefore, Keyamo said that a high-level bilateral trade negotiations were ongoing with a view to securing direct logistics flights between China and the Southeast by the end of 2026.
“Just two days ago, the Enugu governor and I were actively negotiating the first direct cargo flight from Guangzhou, China, straight into Enugu.
“We are targeting December for the maiden flight. This will allow our Southeast merchants and traders in China to consolidate their goods into unified cargo accounts twice a week, flying straight into Enugu for seamless delivery to hubs like Onitsha and Aba,” he concluded.
It is recalled that Governor Mbah had in July 2025 launched Enugu Air, a state-owned airline, as part of the administration’s integrated blueprint for a modern, multimodal transport ecosystem and the vision to make Enugu a major aviation and logistics hub.
Since then, Enugu Air has grown its fleet from three at inception to six planes with plans to further increase it as it prepares to commence operations to regional destinations like Accra, Libreville, Abidjan in next few months and long haul flight operations to various destinations around the world by the end of the year.
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