News
CBN Attacks Sanusi Over Comment On FG’s Loan Request
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.”
News
Hausa Community Debunks Saidu’s Appointment Report

The Hausa Community in Rivers State has dissociated itself from media reports credited to one MaiwadaAdamu that the Arewa Community in Rivers State has appointed Alhaji Musa Saidu as the acting SarkinHausawa, PortHarcourt, following the inability of the former SarkinHausawa, Alhaji Isa Madaki to carry out his functions.
MaidawaAdamu, who is also the spokesman of the Arewa Initiative for Peaceful Co-existence, had briefed journalists on the change, but in a swift reaction, the Office of Alhaji Isa Madaki, has come out to say that the only recognised body which has the powers to appoint the SarkinHausawa, PortHarcourt is the Council of SarkinHausawa in PortHarcourt headed by Alhaji Isa Madaki.
The statement also said Alhaji Hussani Isa Madaki is the only recognisedSarkinHausawa, Port Harcourt, adding that his appointment follows the proclamation and endorsement by the council members of SarkinHausawa, Port Harcourt, Rivers State.
The statement further called on the general public and all authorities concerned to give Alhaji Hussani Isa Madaki maximum co-operation and support,as he discharges his duties as SarkinHausawa, Port Harcourt.
News
Suspended Commissioner Denies Disruption Of Empowerment Programme

The Suspended Rivers State Commissioner for health, Dr Adaeze Chidinma Oreh, has described as baseless allegations in some quarters that she was responsible for the purported disruption of the Nigerian First Lady’s empowerment program in Port Harcourt.
Dr Oreh, who said this in a statement personally signed by her and a copy made available to newsmen in Port Harcourt also described the allegation as a product of the sick imagination of rumour mongers
According to Dr Oreh, “they are nothing more than a feeble and mischievous attempt to tarnish my reputation and sow discord”
In her words,”the allegations levelled against me, Dr. Adaeze Oreh, regarding the supposed disruption of the First Lady’s empowerment programme on Friday 2nd May, 2025, are entirely unfounded, completely false, and a product of the sick imagination of rumour mongers and conflict entrepreneurs.
“They are nothing more than a feeble and mischievous attempt to tarnish my reputation and sow discord.”
The suspended commissioner challenged those behind the allegation, especially the Concerned Rivers Youth Organisation to show proof of its assertion adding “It is essential to base criticisms on facts rather than speculation or puerile political agendas.
“I challenge the “Concerned Rivers Youth Organisation” (assuming such a body really exists) to provide tangible proof to support their assertions.
“It is essential to base criticisms on facts rather than speculation or puerile political agendas.
“I have neither sponsored nor will sponsor any activities aimed at embarrassing or disrupting the activities of the administration appointed by His Excellency President Bola Ahmed Tinubu GCFR to oversee the affairs of Rivers State following his declaration of a state of emergency on Tuesday, 18th March, 2025, and have rather spent the time of my suspension from office focused on other endeavours and my doctoral studies.
“I reaffirm my commitment to working tirelessly for the progress and development of Rivers State.
“Furthermore, I believe that it is crucial for all stakeholders to promote a culture of truth, integrity, and respect in public discourse.
“Unsubstantiated wild claims undermine trust and hinder constructive engagement, and this is not what the state needs at this difficult and delicate time.
“I urge everyone to focus on issues that unite us and foster a positive, solution-driven dialogue for the betterment of our State, and urge everyone to work together to build a brighter future for Rivers State, grounded in truth, transparency, and collective effort,”she said.
By: John Bibor
News
HYPREP Solicits Regulators, Asset Owners’ Support

The Hydrocarbon Pollution Remediation Project (HYPREP) has called on key regulators, asset owners and other stakeholders to continue to support the agency toward the goal of remediating the Ogoni environment and restoring the livelihoods of the people and building structures for peace.
The Project Coordinator of HYPREP, Prof Nenibarini Zabbey, who made the call during the Project’s first quarter meeting with regulators, asset owners and stakeholders in Port Harcourt, urged the stakeholders to remain resolute in supporting HYPREP’s work.
“We particularly expect each regulatory agency and asset owner to deepen their involvement and continue to provide strategic support to the project”, he said, stressing that the quarterly meeting platform remains instrumental in providing a structural avenue for regulators, asset owners, and implementation partners to offer feedback to HYPREP on project performance and deliberate on ideas that move the project forward, as well as strengthen collaboration, deepen synergy and reinforce collective responsibility.
Zabbey disclosed that the socio-economic study of Ogoni has started, as HYPREP has contacted the International Agency for Research on Cancer of the World Health Organisation(WHO) to commence in the next quarter a three-year human health biomonitoring in Ogoniland.
He noted that work on several fronts of the cleanup project is progressing steadily, adding that as key project partners, the insights and shared experience of the regulators and asset owners have always enriched HYPREP’s operations.
He said the policy thrust of HYPREP for 2025 is clear, as the Project is intensifying efforts to complete within stated timelines, the various ongoing projects, including remediation works and mangrove restoration, potable water facilities, the Centre of Excellence for Environmental Restoration, the Ogoni Power Project, Ogoni Specialist Hospital, and Buan Cottage Hospital, among others.
Zabbey, however, announced that HYPREP would commence new set of shoreline cleanup, mangrove restoration and livelihood projects, to sustain the momentum of implementing the Ogoni cleanup, adding that the agency would also conduct detailed site characterisation of the high-risk complex sites, leading to remediation works at the sites.
He noted that HYPREP’s collaboration with Rivers State Ministries of Health, Power and Environment, and civil society organisations remains vital, stressing that the technical and administrative support of all relevant government agencies and funding partners is indispensable in helping HYPREP overcome operational bottlenecks, especially those encountered in interfacing with host communities.
He further indicated that “the people of Ogoni and the nation are looking to us with hope and expectation, and expect tangible results from the remediation initiative”, assuring the participants that the Project Coordination Office is committed to delivering positive results.
“We must, therefore, continue to work with diligence, transparency, and a renewed sense of purpose”, he declared, saying, “ the completion and commissioning of projects this year must reflect not only our technical ability but also our collective commitment to environmental sustainability and sustainable development in Ogoni.”
During the interactive session, the Project Coordinator briefed the participants on the progress made so far by HYPREP to conclude the distribution of starter packs to the 5,000 Ogoni trainees, and called on contractors who had already collected huge chunk of money for the project, to deliver without further delay.
In all, the regulators, asset owners and stakeholders commended HYPREP for the good works it is doing, and urged it to do more.
The National Oil Spill Detection and Response Agency(NOSDRA) was represented at the event by Deputy Director, Oil Field Assessment, Dr Abam Komommo Omini, while Dr Vincent Nwachukwu, Director of Medical Services, represented the Rivers State Ministry of Health.
The Rivers State Ministries of Water Resources, Power and Environment were represented by Dr Bealo Brownson; Engr K. J. Osele; and Mr James Ordu respectively, while the Society for Women and Youth Affairs (SWAYA); and the Stakeholder Democracy Network(SDN); among other civil society organisations were also at the event.
By: Donatus Ebi
-
News14 hours ago
Troops Eliminate Boko Haram Fighters, Capture Weapons In Sambisa Offensive
-
Rivers13 hours ago
Expert Demands Full Implementation Of PIA In N’Delta Oil Communities
-
News20 hours ago
Falana Demands Probe Of Alleged Diversion Of $3.4bn IMF Loan
-
Politics14 hours ago
Youth Group Warns Against Politicising Governance In Zamfara
-
Sports20 hours ago
“Remo Ladies will win every NWFL Super Six match”
-
Business13 hours ago
NCDMB, Partners Sweetcrude On Inaugural Nigerian Content Awards
-
News14 hours ago
Eleme Indigenes Hail Council Boss Over Evacuation Of Refuse
-
News20 hours ago
Over 80 Army captains to sit for 2025 promotion exam in Benin