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CBN Attacks Sanusi Over Comment On FG’s Loan Request

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Central Bank of Nigeria, CBN, yesterday, accused Sanusi Lamido Sanusi, the Emir of Kano, of playing to the gallery over his statement that there are five exchange rates in the country. The apex bank said it does not allocate dollars to end users, saying request for foreign exchange are made through their banks.

It explained that there is no where in the world where the apex bank allows vicious currency speculators to distort its currency endlessly. Sanusi, also a former governor of CBN, had, on Friday, alleged that the apex bank was lending to government above the limits stipulated by the CBN Act of 2007 and that no one was willing to lend to the Nigerian government.

“If Senate approved, I want to see who will lend you $30billion when you have five exchange rates”, the monarch said at a policy monitoring dialogue hosted in Abuja by Savannah Centre for Diplomacy, Democracy and Development.

Sanusi Lamido Sanusi, the Emir of Kano Faulting the emir’s position in a statement, yesterday, the CBN acting Director, Corporate Communication, Mr. Isaac Okorafor, said the apex bank had set up an inter-bank foreign exchange market where anyone who wished to buy foreign exchange could bid for and buy through their banks. “ It is not true that CBN allocates dollars.

There is no where in the world that the Central bank sits by and allows vicious speculators to solely distort the value of its currency endlessly. All central banks intervene to buy or sell in the market to ensure that the local currency is protected from dubious attacks”, Okoroafor stated.

“The channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians are open. It is rather unfortunate that some people have chosen to play to the gallery and to make statements to disparage those in leadership at this time in total insensitivity to the larger interests of the Nigerian economy.

“We should not forget that the seed of our current economic crisis was planted by the failure of those who occupied public office in the past but failed to act in the long term interest of the Nigerian economy. It is easy to criticize from outside.

“ It is always easier and the grass greener when people are out of office. The challenge we face today is a choice between pandering to the established interest in Nigeria’s speculative economy and the protection of the wages of the real stakeholders who work hard on fixed incomes.

For they are the core victims of Naira depreciation. “At this critical time in the life of our country the CBN will continue to explore avenues with the Federal Government in order to find solutions to the current economic situation. Already Nigerians are waking up to the call to be more productive and to look inwards and to be less dependent on the importation of foreign goods and services.”

Sanusi, in his Friday speech, said the apex bank was illegally lending to the Federal Government. “The problem of the current government is not having the right policies to fix the current economic woes”, he stated. The emir’s presentation showed that CBN’s lending to the government since Buhari came in had spiked from about N1.5 trillion to over N4.5 trillion.

“The CBN-FGN relationship is no longer independent. In fact, one could argue their relationship has become unhealthy. CBN claims on the FGN now tops N4.7 trillion —equal to almost 50% of the FGN’s total domestic debt.

This is a clear violation of the Central Bank Act of 2007 (Section 38.2) which caps advances to the FGN at 5% of last year’s revenues. Has CBN become the government’s lender of last or first resort?” Sanusi said at the dialogue that no one was willing to lend to the Nigerian government.

“If Senate approved, I want to see who will lend you $30billion when you have five exchange rates”. According to the former CBN governor, the country is enmeshed in heavy debts. Out of every N1 Nigeria makes, the emir explained, 40 kobo goes to debt and 60 kobo is left for salaries, health, education, power, infrastructure. He said oil is merely a working capital that cannot make the country rich. Nigeria produces one barrel for 80 Nigerians; Saudi Arabia produces one for 3 Saudis, Sanusi said.

The former CBN boss noted that in every economy, growth is driven by “consumption, investment and net export”, adding that “our exports cannot grow, without regulatory certainty or an increase in the price of oil”. He lamented that the country was spending money on repaying debts and also on recurrent expenditure, as against education, healthcare, power, and other infrastructure.

The emir also stated that Nigeria is the lowest per capita spender on development in Africa. On speaking truth to power, he said: “I can’t apologise for being who I am. The government I served, I did not keep quiet. When I am not serving the government, I cannot keep quiet.”

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RHI: First Lady Gives N50m Business Grants To Rivers PWDS, Disabled Veterans  …As RGS Unveils Free Medical Services For Vulnerable Persons

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Nigeria’s First Lady, Senator Oluremi Tinubu, has extended a major financial lifeline to Persons with Disabilities (PWDs) and disabled veterans in Rivers State.

The support comes under the Renewed Hope Initiative (RHI) Social Investment Programme, a nationwide economic empowerment effort.

The event, held on Wednesday at the Banquet Hall of the Government House, Port Harcourt, coincided with the 2025 International Day of Persons with Disabilities, with the theme: “Fostering disability inclusive societies for advancing social progress”.

Wife of the Rivers State Governor, Lady Valerie Siminalayi Fubara, who represented the First Lady of Nigeria, presented the small business grants to the beneficiaries.

The RHI empowerment effort covers all 36 states, the Federal Capital Territory (FCT), and the Defence and Police Officers’ Wives Associations (DEPOWA).

Each jurisdiction will have 250 PWDs receive a N200,000 Business Recapitalisation Grant per beneficiary, amounting to N50million. In total, with N1.9 billion being disbursed to 9,500 PWDs across Nigeria.

Expressing delight at unveiling the programme under the RHI Social Investment Framework, Senator Tinubu noted that the launch was intentionally scheduled for the International Day of Persons with Disabilities.

She emphasised the administration’s commitment to inclusive growth, stating that the nation becomes stronger when all citizens are empowered to contribute.

According to the First Lady, “Our commitment to improving lives has also been demonstrated through various interventions in

Agriculture, Economic Empowerment, Education, Health, and Social Welfare, aimed at improving the well-being of families across our country. To all our beneficiaries, I encourage you to make good use of this opportunity.”

Mrs Tinubu said that the programme aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which seeks to promote inclusive growth and shared prosperity by ensuring that no Nigerian is left behind, especially those whose needs are often overlooked.

She announced that the RHI Governing Board has approved making the Economic Empowerment Programme for PWDs an annual event every December 3.

She thanked the Governor of Rivers State, Sir Siminalayi Fubara; and his wife, Lady Valerie Fubara, for their support, and encouraged the beneficiaries to make good use of the opportunity.

In her speech, Wife of Rivers State Governor, Lady Valerie Siminalayi Fubara, assured that the Renewed Hope Initiative in the State will collaborate with the National Commission on Persons with Disabilities to promote an inclusive society where the rights and privileges of persons with disabilities are guaranteed.

She said that the celebration of the 2025 World Disability Day, reaffirms the government’s commitment to create a more just, inclusive, equitable and sustainable State, where no one is left behind.

Lady Fubara also delivered a strong message of empowerment to the beneficiaries, saying “You are not defined by limitations. You are defined by your strength, your creativity, your persistence, your brilliance, and your unique contribution to this State.”

She urged society to champion inclusion, noting that disability is not a tragedy but that discrimination, silence, and exclusion are.

The governor’s wife confirmed that 250 beneficiaries in Rivers State received the N200,000 grant, and urged all the beneficiaries to utilise the funds wisely.

“Let it be a seed that grows into something greater; a business that sustains you and your family,” she said.

Also speaking, Executive Secretary, Rivers State Contributory Health Protection Programme, Dr Vetty Agala, announced the enrollment of the 250 persons with disabilities into the state’s contributory health protection programme, adding that the beneficiaries will now enjoy free medical care and services at primary, secondary and tertiary levels in the State.

“You’re going to not only access primary care, but anytime you require secondary or tertiary services, you will be referred to those levels of care at no extra cost,” in line with the government’s “Health For All Rivers Initiative,” she said.

In her own remarks, Permanent Secretary of the Rivers State Ministry of Social Welfare and Rehabilitation, Mrs. Lorenta Davis-Dimkpa, stated that efforts are underway to establish a South-South office for the Disability Commission.

She also confirmed that there was an ongoing work to domesticate the 2018 Disability Act.

In her goodwill message, former Justice of the Supreme Court, Justice Mary Odili (rtd), commended both the Federal and Rivers State governments for taking bold steps to ensure persons with disabilities are included in governance.

Earlier in her speech, the State Coordinator of the Renewed Hope Initiative, Hon Tonye Briggs Oniyide, had said that the programme was carefully designed to address the needs of persons with disabilities and disabled veterans, helping them upscale their businesses across the State.

Speaking on behalf of the beneficiaries, Kie Obamanu, called for the full implementation of disability laws to eliminate discrimination.

He expressed gratitude to Nigeria’s First Lady and the wife of the Rivers State Governor for their support.

Highlight of the event was the presentation of the Universal Health Coverage Ambassador Award to Lady Valerie Fubara by the Rivers State Ministry of Health, in recognition of her contributions to improving access to healthcare services in the State.

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Fubara Assures Greater Collaboration With Navy 

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Rivers State Governor, Sir Siminalayi Fubara, has assured greater collaboration with Navy and other security agencies in combatting crimes and criminality in the State.

 

The governor also hailed the appointment of Vice Admiral Idi Abbas as the Chief of Naval Staff, saying he will deliver on his mandate based on his track record of excellence and meritorious service.

 

Fubara gave this assurance when Abbas and his team paid the governor a courtesy call at the Government House, Port Harcourt, yesterday.

 

The governor also commended the efforts of the Nigeria Navy in tackling criminality on Rivers waterways and protecting critical national assets.

 

He emphasized the need for more security surveillance on Rivers State coastal environments to safeguard lives and properties.

 

According to him, the Navy’s superior technology, manpower, and tactical competence are vital to protecting the state’s vast waterways.

 

“We need to work together for us to succeed,” he said, stressing that collaboration remains the most effective way to keep residents, assets, and the environment safe.

 

Pointing out the strategic significance of Rivers State as the hub of Nigeria’s crude oil and coastal infrastructure, Fubara commended the Navy for its continuous efforts in preventing losses to lives, livelihoods, and the ecosystem, and assured the service of the government’s sustained cooperation and support.

 

On his part, Abbas said his visit was part of a nationwide tour aimed at assessing operational readiness across naval formations since assuming command on October 30, 2025,

 

The new Naval Chief noted that Rivers State hosts several critical energy installations that fall under the Navy’s mandate to protect, adding that the state also remains central to the Navy’s training operations, with several key units located within its territory.

 

Abbas commended Governor Fubara for the State’s consistent support, citing the provision of six gunboats and the donation of a school building as significant contributions that have boosted the Navy’s operational efficiency.

 

He appealed for continued collaboration as the Navy intensifies efforts to secure the maritime domain.

 

Taneh Beemene

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Fubara Tasks Traditional Rulers On Peace, Security …Says Education, Job Creation ‘ll Receive Boost In 2026 Budget

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Rivers State Governor Sir Siminalayi Fubara has declared that amidst glaring challenges, his administration has remained determined and focused to dispense good governance and put in place the needed development in the State.

 

The governor disclosed this while addressing the 123rd and 124th combined quarterly general meeting of the Rivers State Council of Traditional Rulers at the Council Secretariat on Monday.

 

Fubara who commended the traditional rulers for their supports and efforts in promoting peace and development in the State, urged them to live up to their roles as custodians of peace by becoming alert and more vigilant in their domains to tackle the menace of insecurity especially in boundary communities.

 

He advised the traditional rulers to work with local government chairmen and security agencies to safeguard lives and properties in their domains.

 

“Let me thank everyone of you from the bottom of my heart, I met you in Government House to say a big thank you, because the royal fathers stood as fathers in our most trying moments.

 

“I say thank you again for your support, for understanding that your role is fatherly role, and one of the reasons you were elected or selected to be head is to bridge the gap in terms of crisis, and to play fatherly role when called upon. Thank you for ensuring that peace reigns in Rivers State,” he said.

 

The governor reaffirmed his commitment towards the protection of lives and property in the State.

 

“Our vision is to ensure that Rivers State is safe, our vision includes the provision of good health care services, which we are doing, the records are there, people from the south east are witnessing what is happening in the Zonal Hospital in Bori, presently. I’m sure that before the end of this year, the Omoku and Ahoada Zonal Hospitals will be commissioned while Degema is 80% completed, we’re not just talking, we’re doing it,” he said.

 

Fubara, however, dismissed speculations making the rounds on the issue of 10,000 jobs, urging the public to discountenance the false information.

 

He assured that employment will be carried out in the state based on needs, and not on political considerations.

 

He disclosed that the 2026 budget will make provision for job creation and the refurbishment of schools in the State which, he noted, are currently in deplorable conditions, having given due consideration to roads and the health sector.

 

“Let me use this medium to address an issue, I saw some people sending messages to my WhatsApp, they want to protest against 10,000 jobs, they claim was included in the budget, which budget? We are going to employ based on the needs of the state, I’m not going to employ politically to please anybody,” he assured.

 

The governor promised to address the requests of the traditional rulers, and charged them to ensure that their meeting brings out a strong position that will make the State stronger.

 

Earlier in his welcome address, the Chairman of the Rivers State Council of Traditional Rulers, and Eze Oha Apara 1V, of Apara Kingdom, HRM Eze Chike Amadi Worlu-Wodo, thanked the governor for personally attending the meeting.

 

The royal father restated the support of the traditional rulers to the State Government, and presented some requests of the Council to the governor.

 

“Your Excellency, the news that we have received all over the State is quite cheering and symbolic of the peaceful life and developments that Rivers people yearn for in the State. You have brought back those glorious old days of harmonious living and peaceful coexistence the way it was. May the Almighty  God bless you and help you to sustain this laudable feat,” the royal father prayed.

 

In his remarks, the State Commissioner for Chieftaincy Affairs , Egnr.Charles Amadi, expressed gratitude to the governor for his developmental strides in the State, and also commended the traditional rulers for their unwavering commitment towards promoting peace in the State.

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