Gist
4 Things Emefiele Did to Offend Tinubu, Nigerians, Prominent Govs
President Bola Ahmed Tinubu, on Friday, June 9, ordered the immediate suspension of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).
In a statement, the CBN Governor was suspended following investigation into the affairs of the apex bank. President Bola Tinubu, CBN, Central Bank of Nigeria, Godwin Emefiele
The CBN Governor’s suspension is a sequel to the ongoing investigation of his office and the planned reforms in the economy’s financial sector, the statement said.
Since Emefiele’s tenure as CBN governor ends in June, it is a surprising move that will now raise legal questions. In view of the above development, Fedpolygist dive into some of the major reasons why Emefiele’s office was threatened in the wake of the new administration headed by Tinubu;
1. Economic downfall
Emefiele’s policy reforms and operations of the apex bank did not sit well with Nigerians which includes some prominent governors and elites in the country. The suspended CBN governor assumed office in 2014 after succeeding Lamido Sanusi, who was equally suspended from office under controversial circumstances by President Goodluck Jonathan few months before the expiration of his tenure. Before his appointment, Mr Emefiele was the Group Managing Director of Zenith Bank Plc. Since assuming office in 2014, the suspended CBN chief has faced criticisms among Nigerians due to his management of the economy, his politics, and the apex bank’s controversial policies. During his tenure, the Nigerian currency, the naira, has experienced a significant decline, currently trading at over N750 per dollar in the parallel market and N469.50 per dollar at the spot market as of Thursday, the lowest it has ever traded on the Investors and Exporters (I&E) window.
2. Naira redesign policy (Changing of notes)
In the last quarter of 2022, the CBN also introduced a naira redesign policy that was widely criticised for the uncertainty and widespread chaos it triggered across Nigeria. The policy caused widespread chaos nationwide as frustrated Nigerians staged protests amid poor banking operations. In the heat of the electioneering, Tinubu, then candidate of the ruling All Progresives Congress (APC), claimed that the policies implemented by the CBN, such as the restriction on cash withdrawals to N20,000 per day and N100,000 per week, were deliberately designed to hinder his chances of winning the presidential election. The implementation of CBN’s naira redesign policy was suspended on March 13 as Nigeria’s economy slowed in the first quarter of the year on cash scarcity induced by the CBN naira redesign policy.
3. Naira scarcity
The limited circulation of new Naira notes in the country, days before the January 31 deadline set by the bank to stop the use of old notes was a pain Nigerians are still yet to heal from.
The affected denominations are N1000, N500 and N200, which the apex bank recently re-designed. The new notes was scarce and followed with deadline for the old note to be deposited at the bank which then led to the scarcity of both the old note and new note; this triggered the anger of Nigerians and some governors in the country. The the APC presidential candidate in the February 25 election, Bola Tinubu advised the apex bank to allow the old and new Naira notes to co-exist for 12 months.
“We advise the immediate suspension of associated charges on online transactions and bank transfers and payments via POS until the current crisis is fully resolved,” Tinubu stated.
Amid the melee, prominent Nigerians and leading figures in the civil society called for Mr Emefiele’s arrest and prosecution. In March, Nigeria’s leading investigative medium, PREMIUM TIMES, also called for the arrest and prosecution of the central bank governor.
In an editorial, the news outlet reiterated its stand, frowning at the anti-people cash policies imposed by the Central Bank of Nigeria (CBN) under the watch of Mr Emefiele. The editorial also criticised the CBN for failing to adhere to the ruling of the Supreme Court on the old naira notes. It noted that the cash withdrawal limit imposed by the central bank is an infringement on the rights of the people.
4. Emefiele contested for president
Emefiele also faced a barrage of criticism due to his controversial foray into partisan politics, which saw him contest for the presidential ticket of the ruling All Progressive Congress. Although the governor tried to deny his involvement in partisan politics, support groups were calling for his emergence as flagbearer of the ruling party.
The governor’s unprecedented involvement in partisan politics attracted widespread condemnation, with experts expressing worries about the governor’s impartiality and the autonomy of the CBN.
“It’s political vendetta”: Public affairs analysts speak on Tinubu’s suspension of Emefiele
Following the suspension of Godwin Emefiele as the governor of the Central Bank of Nigeria (CBN) on Friday, June 9, public affairs analysts have shared their views on the matter. Emefiele’s suspension comes after a meeting with Tinubu last week. Fedpolygist spoke with some analysts, who shared their perceptions on the trending matter. Kogi-based analyst Kole Shittu revealed on Saturday, June 10, that the president’s decision was driven by politics, although he praised the president for keeping to his words. President Tinubu suspends CBN Governor, Godwin Emefiele, orders probe President Bola Tinubu has suspended Godwin Emefiele as the governor of the Central Bank of Nigeria (CBN). The office of the secretary to the government of the federation announced his suspension. Willie Bassey, director of information, SGF office, in a statement issued on Friday, June 9 noted that the suspension is with immediate effect.
Nigerian singer, Skiibii, has opened up on the reason behind his strained relationship with Kizz Daniel for a while now.
Skiibii recently had an interview with Afrobeat podcaster Adesope where he revealed his currently not talking to Kizz Daniel.
Skiibii disclosed that he is very close to Kizz Daniel and understands how he thinks.
However, the singer also revealed that they constantly have a lot of fights, describing Kizz Daniel as a “Werey.”
According to Kizz, they are currently not on talking terms after he sent him a voice note which didn’t go well with him.
“This last time we fought, I sent him a voice note, and he just hissed at me. Since that time, we no dey talk. We don fight. But you see as we dey fight, I still get many good things to talk about him. He’s a lovely guy.”
@Blackboysho reacted: “Real life is different from social media… love Skibbiiiiii.”
@oluwashiizey commented: “Skiibii get D’banj DNA for him blood . He’s so entertaining to watch.”
@ishoola706 reacted: “Best interview ever now I love Skiibi.”
@ParksWay8 said: “This episode sweeeeeeet! Egbon dy turn this podcast to another thing oh.”
@ParksWay8 commented: “Too real!!! See interview!! Man was himself.”
@Pocho184 said: “For acknowledging KC as your oga despite your level now, God bless you Skiibii.”
@abeebgbadamosi562 reacted: “Since when I watch skiibii for tiwantiwa nahin I don love ham, e dey talk ham as e be, no dey fake.”
@MuhammadIbrahim-gt8fr said: “You faked buying a GLS600 maybach tho.”
Gist
Nigerians fume as young boy who was promised heaven and earth during presidential election is neglected
In what appears to be a disheartening turn of events, Nigerians are expressing their disappointment as the young election hero, whose viral video of chasing Peter Obi’s convoy captivated the nation, has allegedly been left empty-handed despite grand promises made during the presidential election campaign.
The incident has reignited debates over the credibility of campaign pledges and the treatment of citizens who actively participate in political processes.
During the presidential elections campaign, the young boy was promised a myriad of rewards ranging from scholarships abroad to substantial financial compensation.
These assurances were intended to recognize and appreciate his bold act of running after the convoy of Peter Obi, the former vice-presidential candidate, in a fervent display of support.
However, five months have elapsed since the general elections took place, and the promised rewards have failed to materialize, leaving the young election hero disillusioned and causing Nigerians to voice their grievances.
Social media platforms have been inundated with expressions of frustration, highlighting the broken trust between politicians and the electorate.
@mandemluvme said; “U go dey trust politicians?😂😂😂”
@mali.k_3 wrote; “Obi😂😂😂”
@jah_rock_ said; “I did not trust this man right from day one… fake man”
@thisleksam said; ‘That’s politics for you”
@bvenza wrote; “Just da play you da hear da play.”
@b_o_w_a_d said; “Peter obi talk say he won give him one post then ?
@kuwait_official wrote; “Internet is very bad what’s this again”
See below;
A fresh Senior Secondary graduate has sent out a stern warning to ladies as she tells them to hold their boyfriends well.
The young graduate has shared a video on her social media page advising the older ladies to hold their boyfriends well because she is done with school and in the market.
According to her, she is now in the dating market and has also learned the skills of snatching boyfriends and husbands from their ladies.
The video shared by the young graduate has attracted a lot of reactions from social media users.
Seun wrote; “They learn this rubbish from social media. It’s now cool for kids in secondary school to say stuff like this. It’s a short distance from saying to doing.”
Blossom wrote; “Boyfriend wey pesin suppose hide from secondary school pikin no be boyfriend”
Fatima wrote; “I hope this video gets to her parents so that they can beat her very well.
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