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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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ADC: Momodu Questions INEC’s Neutrality, Warns Against Selective Justice

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A chieftain of the African Democratic Congress (ADC), Basorun Dele Momodu, has raised fresh concerns over the neutrality of the Independent National Electoral Commission (INEC), warning that its handling of internal party disputes could undermine public confidence in Nigeria’s democracy.

He made the remarks on Thursday, during an exclusive interview on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese-Ijebu, Ogun State.

The discussion centred on the recently concluded ADC convention and INEC’s position on factional leadership within the party. Momodu argued that electoral institutions must be careful not to be seen as politically biased.

The Media mogul maintained that the ADC’s decision to proceed with its convention was not an act of defiance but of constitutional and organisational survival.

According to him, political parties have the right to manage their internal affairs without undue interference.

He stressed that INEC’s primary responsibility is to act as an impartial referee in elections rather than become involved in internal party conflicts. He warned that any perception of bias could weaken trust in democratic institutions.

“Well, it is not really the business of INEC to intervene and interfere in the affairs of a party. Their role is to be the unbiased umpire, conduct elections and make sure that the elections are fair and square.

“But this INEC, this particular INEC, has started very early to show signs that we may not be able to trust them”

Momodu expressed concern that opposition parties are often subjected to faster and stricter scrutiny compared to ruling parties.

He suggested that this perceived imbalance could deepen political tension in the country. He also cautioned that democratic institutions must not only act fairly but must also be seen to act fairly. For him, perception is as important as legality in sustaining public confidence.

“Because of the hurry with which they deal a blow to opposition parties, I don’t see them doing that to APC. The speed at which they aligned quickly with the weaker faction of, you know, PDP was clear to me that we will be heading for the rocks again, as we have done in the past.

“I remember Amupitan when he was appointed; he pledged to be one of the best. But from what I’m seeing, his name is already being rubbished in the mud, which is unfortunate for a man at that commanding height of his life.

Culled from Daily Telegraph

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Man Rescued Amid Attempt to Jump into Lagos Lagoon

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A man whose identity had not been established at the time of filing this report was rescued after reportedly attempting to jump into the Lagos Lagoon from a bridge.

Eyewitnesses said the individual parked his vehicle on the bridge before entering the water, prompting alarm among passersby.

The situation was, however, swiftly brought under control as local fishermen in the area intervened and pulled him out of the lagoon, preventing what could have resulted in a fatal outcome.

A video capturing the rescue surfaced on social media on Wednesday, shared by Isaac Fayose, who expressed concern over the incident and called on Nigerians to pay closer attention to the well-being of those around them.

“Please, check on your family and friends. This just happened today. Who knows what went wrong,” he wrote.

As of the time of this report, the circumstances leading to the incident remain unclear, while authorities have yet to provide an official account.

The Lagos State Police Command had also not issued any confirmation of the incident.

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Dele Momodu Proposes Atiku/Obi Ticket As ‘Best Bet’ to Unseat Tinubu in 2027

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Veteran journalist and chieftain of the African Democratic Congress (ADC), Chief Dele Momodu, has declared that a joint presidential ticket between Atiku Abubakar and Peter Obi represents the strongest strategy for the opposition to defeat the ruling All Progressives Congress in the 2027 general elections.

Speaking on Politics Today on Channels Television, Momodu said the emerging ADC coalition is gaining momentum as a credible alternative to President Bola Tinubu’s administration, which he accused of promoting “one-man rule” and weakening democratic institutions.

Momodu argued that an Atiku–Obi ticket offers both experience and electoral appeal, noting that both politicians already command significant national followings from previous elections. He recalled their collaboration in 2019, adding that Obi’s performance in the 2023 presidential election provides a ready base of supporters that can be consolidated.

According to him, the coalition is further strengthened by the involvement of political heavyweights such as Rabiu Kwankwaso and Rotimi Amaechi, making it a formidable opposition alliance.

“The candidates who placed second, third, and even fourth are aligning. That naturally builds a strong challenge,” Momodu said, suggesting that this development could unsettle the APC ahead of 2027.

He also accused the Tinubu administration of centralising power and undermining democratic processes, claiming that key institutions—including the legislature and electoral system—are increasingly influenced by the executive arm of government. He warned that such a trend poses risks to Nigeria’s democracy.

Momodu further alleged that opposition parties face systemic obstacles, including difficulties in accessing venues, legal pressures, and institutional interference. He argued that these challenges have made opposition unity not just strategic, but necessary.

Dismissing concerns about possible cracks within the ADC coalition, Momodu described such fears as speculative, insisting that current political realities have effectively forced major opposition figures to work together.

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