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CBN: Cardoso Fires Directors Believed to Be Loyal to Emefiele

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There is anxiety among the management staff of the Central Bank of Nigeria (CBN) as 19 directors have reportedly been issued termination letters.

Reports claim that, while two of the affected directors have accepted their fate, five others are planning to institute a law suit against the apex bank for what they consider to be an unlawful termination of their appointments.

Although the apex bank has not given any explanation over the development, reliable sources within the bank confirmed the development.

There are no precise details of the reason for the reported sack of the directors.

However, the two directors who quietly accepted their termination also faced a case with the Economic and Financial Crimes Commission (EFCC) after the Jim Obazee repots allegedly indicted them.

The termination letters sent to the seven directors cited “reorganizational and human capital restructuring” as the reason for their dismissal, which is in line with the bank’s new strategic direction.

The letters reportedly stated that their services would no longer be required as of Friday, March 15, 2024, and they were instructed to immediately hand over all the bank’s properties to their department’s administrator.

Meanwhile, a source within the CBN expressed concern over the lack of an exit package for the terminated directors, especially considering their years of service and the absence of any charges or accusations against them.

The source also highlighted the loss of years of institutional knowledge and expertise that would result from the dismissal of these experienced directors.

It has been revealed that the remaining 12 directors who have not received their termination letters are aware of their impending dismissal.

Some staff members have appealed to the management on behalf of the affected directors, requested that the sack be reconsidered and converted to retirement to allow the directors receive their allowances.

The situation at the apex bank has sparked discussions and concerns about the impact of the dismissals on the bank’s operations and the fate of the directors.

The apex bank, on November 24, 2023, reassigned directors to a division under the Governor’s Directorate, FSS 2020, in Maitama, Abuja.

Samuel Chukwuyem Okojere, Abdulmumin Abdulsalam Isa, Dr Elizabeth Amos Kwaghe, Dr Maureen Omolola Chukwurah, and Arinze Stanley were among the directors transferred to the FSS 2020 division.

The development comes after the banks’ controversial relocation of at least 150 employees from the Banking Supervision Department, BSD, one of its 29 departments, to Lagos State.

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Boko Haram Among Terror Groups Funded by USAID, Says US Congressman, Perry

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US Congressman, Scott Perry, has said that US aid agency, United States Agency for International Development, funded terrorist organisations, including Boko Haram.

Perry, a Republican representing Pennsylvania, made the claim during the inaugural hearing of the Subcommittee on Delivering on Government Efficiency on Thursday.

The session, titled “The War on Waste: Stamping Out the Scourge of Improper Payments and Fraud,” focused on alleged misappropriations of taxpayer funds.

“Who gets some of that money? Does that name ring a bell to anybody in the room? Because your money, your money, $697 million annually, plus the shipments of cash funds in Madrasas, ISIS, Al-Qaeda, Boko Haram, ISIS Khorasan, terrorist training camps. That’s what it’s funding,” Perry said.

According to the subcommittee’s website, it will “actively work with President Trump’s Department of Government Efficiency to root out waste, shore up vulnerable payment systems, and fully investigate schemes to defraud taxpayers.”

Perry further cited USAID’s reported funding of $136 million for building 120 schools in Pakistan, alleging that there was “zero evidence” of the schools’ construction.

Perry added, ” If you think that the programme under Operation Enduring Sentinel entitled Women’s Scholarship Endowment, which receives $60 million annually, or the Young Women Lead, which gets about $5 million annually, is going to women who, by the way, if you read the Inspector General’s report, is telling you that the Taliban does not
allow women to speak in public, yet somehow you’re believing, and American people are supposed to believe, that this money is going for the betterment of the women in Afghanistan. It is not.

“You are funding terrorism, and it’s coming through USAID. And it’s not just Afghanistan, because Pakistan’s right next door.

“USAID spent $840 million in the last year, the last 20 years, on Pakistan’s education-related programme. It includes $136 million to build 120 schools, of which there is zero evidence that any of them were built. Why would there be any evidence? The Inspector General can’t get in to see them.

“But you know what? We doubled down and spent $20 million from USAID to create educational television programs for children unable to attend the physical school. Yeah, they can’t attend it, because it doesn’t exist. You paid for it.

“Somebody else got the money. You are paying for terrorism. This has got to end.”

US President Donald Trump has previously called for the closure of USAID, accusing the agency of corruption in a post on his Truth Social platform.

The move is part of Trump’s–and his billionaire ally Elon Musk’s–drive to shrink the US government.

Musk, whom Trump appointed to lead the Department of Government Efficiency, has also criticised USAID, alleging that it engages in rogue operations.

Musk has called USAID “a viper’s nest of radical-left Marxists who hate America” and has vowed to shut it down.

Among other criticisms, which Musk has claimed that USAID does “rogue CIA work” and even “funded bioweapon research, including COVID-19, that killed millions of people.”

Trump said DOGE would “dismantle government bureaucracy, slash excessive regulations, cut wasteful expenditures, and restructure federal agencies — essential to the ‘Save America’ movement. This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people!”

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CDS Visa Denial: No Comments, Canadian Embassy Declares

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The Canadian High Commission in Nigeria has refused to make further comments on circumstances surrounding the denial of visas to some senior Nigerian military officials, including the Chief of Defence Staff, General Christopher Musa, citing privacy policies.

The Authorities however, acknowledged social media reports of the situation.

Musa and some military officials were denied visas to attend an event in Canada honouring war veterans, a situation the CDS revealed during an event in Abuja on Thursday.

Responding on Friday, via its social media handle, the Canadian High Commission stated, “The High Commission of Canada in Nigeria is aware of media reports related to planned travel by senior officials. However, for privacy reasons, we are unable to comment on the status of visa applications of specific individuals.”

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Afenifere Leader, Pa Ayo Adebanjo Dies at 96

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Pa Ayo Adebanjo, the Afenifere leader, is dead.

He died on Friday morning at his Lekki residence in Lagos, according to a family statement. He was aged 96.

It reads: “With a heart full of gratitude for a selfless life spent in the service of God, the nation and humanity, we announce the passing on of our beloved patriarch, Chief Samuel Ayodele Adebanjo.

“He died peacefully this morning, Friday, February 14, 2025 at his Lekki, Lagos Nigeria home at the age of 96.

“The foremost nationalist, elder statesman, distinguished lawyer, very distinct politician, apostle of true federalism, former organising secretary of Action Group and the national leader of Afenifere is survived by his 94 year-old wife, Chief Christy Ayo-Adebanjo, children, grandchildren and great grandchildren.

“We will forever cherish his commitment to fighting for truth, equity and justice. His belief and struggle for a truly independent and progressive Nigeria was total and this he fought for until he breathed his last breath.

“The family is consulting with Papa’s friends, associates, numerous interest groups across the length and breadth of Nigeria and beyond, to fine tune plans for a befitting funeral details which will be communicated in due course.

“A condolence register is open at his residence in Lagos (8, Ayo Adebanjo Close, Lekki Phase 1, Lagos) and  his country home in Isanya Ogbo, near Ijebu Ode Ogun State.”

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