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CBN’s Investigator’s Report False, Says Emefiele

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Embattled former Governor of the Central Bank of Nigeria has denied a report by Central Bank of Nigeria’s private investigator, Jim Obazee, that he lodged £543, 482,213 in fixed deposits in UK banks alone without authorisation among other allegations.

Emefiele made this known Sunday night in a signed statement entitled, “Re: Emefiele, others stole billions, illegally kept Nigeria’s funds in foreign banks” which was made available to our correspondent.

The Punch had exclusively reported that Obazee revealed that the former CBN governor illegally lodged billions of naira in foreign currencies in no fewer than 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.

However, Emefiele on Sunday said the report was misleading and a calculated attempt to disparage his person, injure his character and serve the selfish interest of the private investigator.

He said, “I have gone through the publications, and I say boldly that the contents of the said publications are false, misleading and calculated to disparage my person, injure my character and serve the selfish interest of the private investigator.

“Because of my present situation, I have been advised by my lawyers not to say anything in respect of the matters which have been submitted to the court for adjudication. However, I need to address some of the issues raised in the publication which are barefaced lies told by the investigator in order to achieve his satanic agenda

“First, it was reported that contrary to the provision of the CBN Act 2007, there was no presidential approval for the Naira redesign. I wish to state unequivocally that there was indeed a presidential approval, and the said approval was handed over to the same Jim Obazee during the process of his investigation in the presence of senior CBN officials and his own investigative team.

“Moreover, the former President Muhammadu Buhari GCFR has stated on a number of occasions that he authorised and approved the Naira redesign. I am therefore at a loss as to why Mr. Jim Obazee will mislead Nigerians that there was no presidential approval.

“The report also claimed that the sum of 6.23 million dollars was withdrawn from the CBN vault based on a false presidential directive bearing the signature of the former president Muhammadu Buhari GCFR and that of the former secretary to the government of the federation (SGF), Mr. Boss Mustapha.

“About two weeks ago, Jim Obazee in the company of a certain Deputy Commissioner of Police from Force CID came to Kuje to ask me questions in respect of the said document in the presence of my lawyers. I stated verbally and in writing that I have no knowledge of such a directive from the former president and the former SGF. In fact, I told them that that was the first time I would be seeing the documents. “On this, I challenge Jim Obazee to publish the said documents and also the statements that I made to them.

“The final issue that I would like to respond to is the issue of the 593 accounts which were purportedly opened in different parts of the world. I state categorically that I am not involved in the opening of these accounts and I do not have knowledge of their openings. The fixed deposits in those foreign accounts are definitely outside my knowledge.

“However, let me state clearly, that the relevant departments of the CBN have the authority to carry out such activities in line with their lawful mandate within the CBN.

“I, therefore, join well-meaning Nigerians who have spoken on this matter and have demanded a thorough and transparent investigation of all these alleged frauds.

“Meanwhile, I have instructed my lawyers to immediately commence the legal process to clear my name from the defamatory statements contained in the report and by extension the publications.”

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Tinubu Forced Obi, Kwankwaso to Work Together – Dele Momodu

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A chieftain of the African Democratic Congress, Dele Momodu, has claimed that President Bola Tinubu is the one who forced opposition leaders such as Peter Obi and Rabiu Kwankwaso into working together ahead of the 2027 elections.

In an interview on Channels Television on Wednesday, Momodu argued that the current unity among some opposition figures is not born out of genuine long-term commitment but is a reaction to pressure from the ruling government.

“Tinubu forced all of them together. And that is why they all moved in one direction. Which would have been beautiful, because it would have been like a two-party race,” Momodu said.

The publisher of Ovation International made the comment while reacting to the defection of Obi and Kwankwaso to the Nigeria Democratic Congress.

Obi, the 2023 Labour Party presidential candidate, dumped the ADC on Sunday alongside former New Nigeria People’s Party presidential candidate, Kwankwaso, citing legal disputes within the coalition and a toxic political climate.

The move sparked debate about a possible joint presidential ticket between the two opposition figures in the 2027 election.

Momodu, however, warned that the political situation has changed significantly since the 2023 election and cautioned against assumptions of automatic voter retention for major candidates.

“Are you saying that Tinubu will retain all the 8 million plus people that voted for him last time? How are you sure… What is the guarantee that Obi and Kwankwaso are the only people who will retain all those who voted for them last time? The situation has changed,” he queried.

Momodu added that if Tinubu allows a free and fair election, “he might not even get 3 million votes.”

He cited the poor performance of some G5 governors who could not secure senatorial seats in their states, including Enugu, Abia, and Benue, as evidence of shifting voter loyalty.

On coalition talks, the ADC chieftain said his party remains focused and steadfast.

He welcomed those willing to join but rejected any form of blackmail or the idea that victory depends on a single individual.

“Those who want to join should join. Those who do not want to join, you cannot succumb to blackmail. That only one man can make us win,” he declared.

He noted that the 2019 alliance between Atiku Abubakar and Obi did not produce victory, while their separate contests in 2023 also failed to unseat the ruling party.

He advised political actors to remain calm, quoting his late unlettered mother: “Stop running from whatever is chasing you, because you might run into what is chasing you.”

He wished the former Anambra governor well in testing his popularity elsewhere and stressed that no one should be forced out of the race based on one person’s claims.

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Nigerians Won’t Eat Your Bogus GDP Figures, ADC Tells FG

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The African Democratic Congress (ADC), on Wednesday, faulted the Federal government’s celebration of Nigeria’s reported GDP growth, saying the figures do not reflect the economic strain facing ordinary citizens.

The party’s position speaks to a growing gap between official claims of progress and the daily reality of rising food prices, shrinking incomes, job losses and mounting business costs across the country.

In a statement by its National Publicity Secretary, Bolaji Abdullahi, the ADC said economic growth is meaningless if it does not improve how people actually live.

“People do not eat GDP,” Abdullahi said.

The party said millions of Nigerians remain trapped in hunger, inflation, unemployment and weakening purchasing power despite government claims of recovery.

Rejecting the government’s narrative, the ADC said, “The African Democratic Congress (ADC) rejects the Federal Government’s attempt to use headline GDP figures to whitewash the deep economic suffering Nigerians are currently enduring across the country.

“No government should be celebrating economic statistics while millions of its citizens are battling hunger, poverty, collapsing purchasing power, and rising hopelessness.

“The reality of the Nigerian economy is not what is written in government presentations. The reality is what Nigerians confront every day in markets, on farms, in factories, in shops, and in their homes.”

The party pointed to intensifying pressure on households and businesses nationwide.

Abdullahi said: “Food prices are unbearable. Transportation costs have become punitive. Small businesses are shutting down daily under the crushing weight of inflation, energy costs, and weak consumer demand. Salaries have lost value. Families who once lived modestly are now struggling to survive.

“Economic growth that does not reduce suffering, create jobs, improve incomes, or restore dignity to citizens is empty growth. Growth that only exists in official reports while citizens descend deeper into hardship is not meaningful progress.”

The ADC also questioned what Nigerians are being asked to celebrate under current conditions.

The party said, “The purpose of governance is not to manage public relations for economic statistics. The purpose of governance is to improve the living conditions of the people.

“What exactly should Nigerians celebrate? The fact that food inflation continues to devastate households? That millions of young Nigerians remain unemployed or underemployed? That businesses are collapsing faster than new ones are emerging? That more citizens are slipping into poverty despite working harder than ever?”

Calling for a shift in approach, the party urged the government to prioritise measurable improvements in citizens’ welfare over headline figures.

The ADC said: “A government that is serious about economic recovery would show humility, acknowledge the pain Nigerians are experiencing, and focus on delivering measurable improvements in living conditions instead of celebrating figures that have no meaning to hungry citizens.

“The ADC believes that the true test of economic policy is simple: Can Nigerians live better today than they did yesterday? For millions of Nigerians, the answer is no.

“Nigeria needs an economy that works for ordinary people, not an economy that only looks impressive in presentations to investors and international institutions.

“Until growth is felt in the homes of ordinary citizens, through affordable food, stable electricity, decent jobs, lower business costs, and improved purchasing power, this government has no moral basis to declare economic success.”

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I’m Not Leaving ADC, Rhodes-Vivour Vows

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The 2023 governorship candidate of the Labour Party (LP), in Lagos State, Gbadebo Rhodes-Vivour, has opted out of the Obidient Movement, saying he is not leaving the African Democratic Congress, ADC.

Rhodes-Vivour is a staunch supporter of Peter Obi, who moved from the ADC to the Nigerian Democratic Congress, NDC, on Sunday.

Since Obi and his prospective 2027 running mate, Rabiu Kwankwaso, joined NDC, there has been a gale of defections from the ADC to NDC.

However, in a statement on Tuesday, Rhodes-Vivour said himself and his team would remain in ADC to fight for a better Nigeria.

“To those who have made the difficult decision to move on to a new platform, I offer my genuine respect and best wishes.

“These are hard choices, We are all fighting for a better Nigeria, even when our roads diverge. I want to make it clear that I am staying in the ADC,” he said.

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