News

Youth Council Blames Emefiele For Naira Fall

Published

3 years ago

August 1, 2022

The National Youth Council of Nigeria (NYCN) has blamed the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele’s poor economic management policies for the recent free-fall of the Naira.
The Naira had within last week depreciated to an all-time low of N730 to a U.S dollar at the parallel market.
Emefiele had alleged that the current free-fall of the Naira against other major currencies was as a result of the non-remittances of dollars to the foreign reserve by the NNPC Ltd, without highlighting the reality of the causative oil and non-oil related factors, including a drop in Nigeria’s crude oil production, growing petrol subsidy, an unsustainable dual exchange rate system, and reduction in foreign direct investments.
Reacting, President of the NYCN, Comrade Solomon Adodo, said that the CBN Governor’s explanation for the free-fall of the Naira was disingenuous and unpatriotic.
The group accused Eme?ele of completely failing to concentrate on his core mandate of price stability as the apex bank’s governor.
It pointed out that with inflation at about 19 percent and the exchange rate nearing N800 to a dollar, the CBN Governor should be held responsible for deepening poverty in the country, accusing him of working at cross-purposes with President Muhammadu Buhari’s objective of reducing poverty and growing the economy.
The statement reads: “We are all witness to the fact that from August 2020 to July 2022, the o?cial exchange rate has moved from N381 to N415/$, representing only a nine percent increase. However, the parallel market has moved from N470 to N710 within the same period representing a 51 percent increase and a record 71 percent arbitrage with the o?cial exchange rate creating a huge incentive for round-tripping, price gouging, sharp market practices, and in?ation.
“The NYCN is therefore shocked by the comment of the Governor associating the free-fall of the parallel market rates to NNPC, even though it is purely a monetary policy issue and outside the purview of the NNPC.
“As a youth group, we have noted that the inability of the CBN to promptly release Joint Venture (JV) cash call funding from the Treasury Single Account (TSA) even when the Nigeria National Petroleum Company (NNPC) Ltd had adequate cash cover, leading to the loss of JV Partners’ con?dence to restore production and reap the bene?ts of today’s improved oil prices.
“We are in the know that for over three months now, dollar-denominated cash call payments amounting to over $400 million, properly processed, are yet to be paid by the CBN under Mr. Eme?ele.
“The combined impact of CBN’s inability to promptly release JV cash call to restore production, the increasing losses due to crude oil theft, and production deferments has culminated in signi?cant crude oil output losses of over 600, 000 barrels per day.
“We ?nd it curious that the apex governor seems to be unaware of the insecurity and huge oil theft in the Niger Delta which have continued to challenge the country’s oil production and the oil industry and gas industry in general. At present, there are massive losses and declaration of force majeure across the country’s major onshore production export facilities of Bonny, Brass, and Forcados.
“At the current year-to-date average crude oil price of $107 per barrel, Nigeria is counting opportunity losses translating to over $64 million per day, and a monumental impact of about $2 billion per month.
“We are taken aback that Mr. Governor is feigning ignorance that the country’s rising petrol subsidy cost, as well as the rising cost of external debt servicing, are all obligations a?ecting the economy. These a?ect the NNPC’s remittances to the Federation Account.
“From January to June 2022, the cost of PMS subsidy has reached N2.2 trillion and it is estimated that the full-year subsidy bill may hit N5 trillion and N6 trillion in 2023.
“Apart from government decision to defer the implementation of PMS deregulation, the subsidy pro?le is signi?cantly in?uenced by CBN foreign exchange management.
“It is, however, worth noting that the NNPC has recorded signi?cant gains on production ramp-up including attaining ‘?rst oil’ production from the Anyala – Madu Fields and most recently Ikike ?elds which cumulatively boost national oil production by almost 80, 000 barrels per day.
“Furthermore, NNPC’s e?orts towards attaining additional combined production of over 100, 000 barrels from ?elds like Obodo, Utapate etc has never abated despite the global setback recorded as a result of the e?ects of COVID-19 pandemic.
“History shows that Mr. Eme?ele is at sea on addressing monetary policy issues. We recall that in 2021, the CBN governor blamed Aboki FX for the depreciation of the Naira. He would later blame members of the Association Bureau De Change, which led to the stoppage of dollar sales to the group. At another time, he blamed the Naira’s depreciation on activities of money laundering, terrorism ?nancing as well as politicians.
“Furthermore, Nigerians are bearing the brunt of the inaction of the CBN Governor as the Emirates Airlines, the ?ag carrier of the United Arab Emirates (UAE), has reduced its ?ight operations to Nigeria over the inability of the CBN to repatriate about $85 million in revenue”.
Calling for the CBN Governor’s sack, the group added that Emefiele is clearly a bad workman who blames every other person for his inability to deliver.
“From all indications since his failed presidential bid as well as his rejection by the All Progressives Congress, a partisan Eme?ele has been doing all to rubbish the achievements of President Muhammadu Buhari and this should no longer be permitted.
“As Nigerians concerned about the future of this country and before Mr. President heeds our clarion call to send Mr. Eeme?ele packing from the CBN, we advise that the CBN considers among other options the World Bank’s recommendation of adopting a single market-responsive sustainable exchange rate, improving access to forex through well-de?ned periodic forex auctions, and signaling a renewed commitment to price stability as a primary goal of the apex bank,” it said.
NYCN further expressed optimism that the NNPC’s transitioning into a limited liability entity, in line with the provisions of the Petroleum Industry Act (PIA), and its regulation now in line with the provisions of the Companies and Allied Matters Act (CAMA) would help resolve cash call payments delays, as the company is now exempted from TSA, among others.

News

NCSU Lauds Fubara Over Comprehensive Renovation Of Rivers State Secretariat Complex

Published

19 minutes ago

January 19, 2026

The Tide

The Nigeria Civil Service Union (NCSU), Rivers State Council, has showered encomiums on the Governor of Rivers State, Sir Siminalayi Fubara for his decisive and people-centered initiative to renovate the Rivers State Secretariat Complex in Port Harcourt.

According to the union, the ongoing renovation represents a major turning point in the history of the state’s public service, particularly in addressing long-standing infrastructural decay that had plagued the Secretariat Complex for several years.

In a statement issued by the Rivers State Council of the NCSU, the union noted that the Secretariat Complex, which serves as the administrative nerve centre of the state, had over time fallen into a state of serious disrepair. Offices, corridors, and essential facilities were described as moribund, dilapidated, and unbefitting of a modern civil service. The situation, the union said, not only affected productivity but also dampened the morale of civil servants.

The union, however, expressed delight that under the purposeful leadership of Governor Fubara, the complex is currently undergoing a comprehensive facelift. It stated that the renovation signifies renewed hope, improved working conditions, and a clear demonstration of the administration’s commitment to repositioning the Rivers State Civil Service for efficiency, professionalism, and service delivery.

As part of efforts to assess the level of work done, the Rivers State Council of the NCSU recently embarked on a monitoring visit to the renovation site. The inspection tour was personally led by the State Chairman of the union, Comrade Chukwuka Richman Osumah. Pictorial evidence from the visit showed significant progress on the project, with ongoing structural, electrical, and environmental improvements across the complex.

Speaking during the visit, Comrade Osumah commended the Governor for prioritizing the welfare of civil servants and providing an enabling environment for effective service delivery. He described the renovation as timely and responsive to the long-standing yearnings of workers in the state.

The NCSU further noted that the project aligns with Governor Fubara’s broader vision of institutional strengthening, accountability, and sustainable development. The union emphasized that a conducive work environment remains a critical factor in boosting productivity and enhancing the quality of public service delivery to the people of Rivers State.

The union assured the Governor of its unwavering support and cooperation in the implementation of policies and programmes aimed at improving the welfare of workers and advancing the socio-economic development of the state. It also urged contractors handling the project to adhere strictly to specifications, maintain high quality standards, and ensure timely completion.

In conclusion, the NCSU described the renovation of the State Secretariat Complex as a landmark achievement of the present administration and a clear indication of Governor Fubara’s commitment to responsive governance and the well-being of the Rivers State workforce.

The union also appealed to Governor Fubara not to be distracted by the actions of some members of the Rivers State House of Assembly, whom it described as enemies of the progress and development of the State, saying, his administration owes well meaning Rivers people a sacred duty to remain focused in providing the dividends of democracy to them.

News

Akpabio Celebrates S’Eagles Bronze Medal

Published

2 hours ago

January 19, 2026

The Tide

The President of the Senate, Senator Godswill Akpabio, has congratulated the Super Eagles of Nigeria for clinching the bronze medal at the 2025 Africa Cup of Nations in Morocco, describing the feat as a source of inspiration to millions of Nigerians.

The Super Eagles secured third place in the continental tournament after defeating the Pharaohs of Egypt 4–2 on a penalty shootout.

Akpabio conveyed his message in a statement released yesterday, and signed by his Special Adviser on Media and Publicity, Eseme Eyiboh.

He said, “The match against the Pharaohs of Egypt was a testament to your skills and determination, and I commend you for your exceptional performance. Your victory is a testament to the talent and resilience that Nigeria is renowned for, and we are proud to have you represent our country on the international stage.

“I urge you to celebrate this achievement with pride and use it as a motivation to strive for even greater heights in your future endeavours. Your achievement is a source of inspiration to millions of Nigerians, and we look forward to seeing your continued success.

“Once again, congratulations to the Super Eagles on this remarkable achievement. May your bronze medal serve as a reminder of your capabilities and the heights you can reach with hard work and determination.”

The Senate President’s commendation comes amid widespread praise for the national team’s resilience and character following a challenging AFCON campaign that saw Nigeria narrowly miss out on a place in the final.

Nigeria secured a record-extending ninth Africa Cup of Nations bronze medal after defeating Egypt 4–2 on penalties following a tense, goalless third-place play-off at the Stade Mohammed V in Casablanca on Saturday.

The Super Eagles and the Pharaohs, two of Africa’s most decorated football nations, were inseparable after 90 minutes of attritional football, with both sides failing to find a breakthrough in regulation time before the contest was decided from the spot.

The victory preserved Nigeria’s flawless record in AFCON third-place play-offs, as the Super Eagles have now won all eight such matches they have contested.

Nigeria entered the match seeking consolation after their dramatic semi-final defeat to the host team, Morocco, where they lost 4–2 on penalties following another goalless draw.

Egypt, on the other hand, were aiming to bounce back from a narrow 1–0 semi-final loss to Senegal, which brought an end to their long-standing dominance at that stage of the competition.

News

NDLEA Nabs Wanted Drug Kingpin 12 Years After Killing Three Officers

Published

2 hours ago

January 19, 2026

The Tide

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a long-wanted drug kingpin, Lekan Jimoh, also known as “Kanmo-Kanmo,” 12 years after his alleged involvement in the killing of three NDLEA officers.

Jimoh was arrested last Friday, January 16, 2026, in Owode town, Ogun State, following intelligence-led operations by tactical teams of the agency.

A search of his hideout led to the recovery of 69 kilograms of skunk, a strain of cannabis.

A statement released yesterday by the agency’s spokesperson, Femi Babafemi, said the suspect has been on the NDLEA wanted list since June 15, 2014, when he allegedly mobilised armed thugs to attack NDLEA officers who attempted to arrest him at his enclave.

He said, “Following his involvement in the brutal killing of three NDLEA officers, Kanmo-Kanmo, who is notorious for drug trafficking, evading arrest and mobilising armed thugs against security agents, was on Friday, 16th January 202,6 tracked to his hideout in Owode town, Ogun State by tactical teams of the agency following credible intelligence. During the clinical operation, the suspect was found in possession of 69 kilograms of skunk, a strain of cannabis.

“The arrest marks a significant breakthrough in the agency’s commitment to ensuring that no fugitive, regardless of how long they evade justice, remains beyond the reach of the law.

“?Lekan Jimoh’s criminal history is marked by extreme violence and lawlessness. As a result, he had on 15th June 2014 orchestrated a barbaric mob action against a team of NDLEA officers who had attempted to arrest him at his enclave. The attack resulted in the cold-blooded murder of three NDLEA officers, including Rabiu Usman Kazaure and two others, who were killed by armed thugs mobilised by Jimoh. While the suspect managed to escape the scene that day, the agency remained resolute in its pursuit of justice for the fallen heroes.”

In a related operation on August 12, 2023, NDLEA operatives raided Jimoh’s residence in Ado-Odo, Ogun State, where 139 sacks of skunk weighing 1,922 kilograms were recovered.

The suspect again evaded arrest at the time. The property, which was used as a drug warehouse, was later forfeited to the Federal Government following court proceedings.

In a separate operation, Babafemi said NDLEA operatives in Edo State on Tuesday, January 13, raided Arokpa forest in Uzebba town, Owan West Local Government Area, arresting a 53-year-old suspect, Isihor Edika, and seizing 320 kilograms of skunk and cannabis seeds.

In Abuja, Babafemi said a 44-year-old woman, Yinka Agboola, at Kaura District, over the alleged online sale of illicit drugs was arrested.

He said items recovered from her residence included 2.2 kilograms of skunk and quantities of cannabis oil.

Babafemi said, “In the Federal Capital Territory, Abuja, operatives on Friday, 16th January, tracked and arrested a 44-year-old lady, Yinka Agboola, following intelligence on her online sale of illicit substances.

“At the time of her arrest, 2.2kg of skunk and litres of cannabis oil, which she produces in her kitchen and sells through online advertisement, were recovered from her home at the Kaura district, Abuja. Another suspect, Tordue Pius Richard, 30, was on Tuesday, 13th January arrested with 148.3 grams of cocaine and skunk at his 12 Biskira Street, Abacha Estate, Abuja home.”

In Lagos, he said NDLEA officers seized 118.1 kilograms of skunk from Dauda Kareem and Saheed Obisesan at Fadeyi, Mushin, last Friday, January 16.

On the same day, 116 kilograms of skunk were recovered from a warehouse at New Market area of Enugu, Enugu State.

Meanwhile, along the Onitsha–Asaba Expressway in Delta State, Babafemi said two suspects, Zaharadeen Yahaya, 25, and Sanusi Maman, 23, were arrested on Thursday, January 15, while transporting 410,800 pills of tramadol, 84.2 litres of codeine syrup, 82,250 tablets of diazepam, 900 tablets of swinol and 65 pills of Molly.

“In Oyo State, Adetunji Ahmed Abayomi, 33, was nabbed on Thursday, 15th January at Moniya, Ibadan, with 321 litres of skuchies, and 2.5kg Colorado, a synthetic strain of cannabis, while Rasheed Ajao, 28, was caught same day at Odo-Ona, Ibadan, in possession of 5.4kg Scottish Loud; 1.696kg skunk and 2.5kg Colorado, bringing the total weight to 9.696 kilograms.

In another raid at Agbeni area of the state capital, 52,430 pills of tramadol and bromazepam were recovered from the store of Orji Edwin, currently at large, on Saturday, 17th January, ” the statement added.

In Kwara State, NDLEA officers on Tuesday, January 13, raided a residence at the Gamo area of Ilorin, where 42 bags of skunk weighing 387.40 kilograms were seized.

In Jigawa State, Babafemi said an ex-convict, Gaddafi Ammani, 26, and his accomplice, Ahmed Sani, 32, were arrested on Saturday, January 17, at Nassarawa GRA, Ringim Local Government Area, with quantities of skunk and exol-5 pills.

He added that Ammani attempted to escape during the operation and injured an officer.

The Chairman and Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (retd.), commended officers across Ogun, Lagos, Apapa, Edo, Delta, Oyo, the FCT, Enugu and Kwara states for the arrests and seizures, and urged them to sustain ongoing drug control efforts.

He described the arrest of Kanmo-kanmo as a triumph of justice and a testament to the Agency’s long memory, adding that the arrest sends a clear and unambiguous message to all drug barons and fugitives.

“You may run, and you may hide for a season, but the long arm of the law will eventually find you.

?“The arrest of Lekan Jimoh is particularly significant because it closes a painful chapter that began on June 15, 2014. For twelve years, this individual lived with the blood of our gallant officers—Rabiu Usman Kazaure and two others—on his hands. He mistakenly thought that time had erased his crimes,” he added.

Jimoh had been on the agency’s wanted list since 2014 following the killing of three NDLEA officers during an attempted arrest in Ogun State.

His arrest comes amid a series of coordinated raids across several states, reflecting the agency’s renewed push to tackle illicit drug production, distribution and trafficking, and to bring fugitives linked to past attacks on law enforcement to justice.