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Lagos Guber: Emefiele Not Involved in Politics or Supporting Gbadebo—CBN

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Godwin Emefiele Exchange Rate

By Dipo Olowookere

The Central Bank of Nigeria (CBN) has reacted to a report by a national newspaper alleging that its Governor, Mr Godwin Emefiele, was plotting to get back at the president-elect, Mr Bola Tinubu, by ensuring that the candidate of the opposition Labour Party (LP) in Lagos State, Mr Gbadebo Rhodes-Vivour, fondly called GRV, defeats the candidate of the ruling All Progressives Congress (APC), Governor Babajide Sanwo-Olu, on Saturday, March 18, 2023.

Mr Tinubu is believed to be in control of Lagos State, which is the commercial capital of Nigeria, since 1999, when he was elected as the governor of the state.

Though his term ended in 2007, according to reports, he has been actively involved in who leads the state, from Mr Babatunde Fashola (the current Minister of Works and Housing) in 2007 to former Governor Akinwunmi Ambode in 2015 and the incumbent Mr Sanwo-Olu, who now seeks another four-year term in office.

In the February 25, 2023, presidential election, Mr Tinubu, for the first time, lost Lagos State to the candidate of LP in the contest, Mr Peter Obi. This unsettled his camp and has put Mr Sanwo-Olu under pressure over fears that another protest vote could chase him out from Alausa this weekend.

Last year, Mr Emefiele attempted to clinch the presidential ticket of the APC but was stopped by the court, which held that he could not remain as the CBN chief and be involved in politics.

This fuelled calls for his resignation and cast doubt on his Naira redesign and cashless policies, which some politicians, including allies of Mr Tinubu, said were targeted at the president-elect.

Today, a newspaper with ties to Mr Tinubu published a story alleging that the apex bank boss was plotting to ensure the president-elect loses control of Lagos State in the governorship election this Saturday.

According to the report, Mr Emefiele has provided funds to the candidate of the Labour Party to prosecute the election and unseat the ruling party.

However, the acting Director of Corporate Communications of the CBN, Mr Isa Abdulmumin, refuted these claims, stressing that his boss is not partisan.

“The attention of the CBN has been drawn to a story published in The Nation newspaper of Monday, March 13, 2023, edition, alleging that the Governor, Mr Godwin Emefiele, has launched a fresh plot against president-elect.

“The aforementioned story went further to allege that the Governor has made a certain amount of money available to a candidate ahead of the March 18, 2023, gubernatorial poll.

“We wish to inform members of the public that this story is completely false and malicious as the CBN Governor does not know and has never met or even spoken with Mr Gbadebo Rhodes-Vivour, either in person or through a proxy.

“We wish to reiterate that the CBN Governor does not take part in politics and, therefore, urge anyone with contrary information to prove the Governor wrong by providing any facts.

“As such, the Governor and his team at the CBN should be allowed to focus on their assigned job with a view to achieving the statutory mandate of the bank,” the statement said.

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TCN Confirms Destruction of Six Transmission Towers in Nasarawa

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Transmission Towers

By Adedapo Adesanya

The Transmission Company of Nigeria (TCN) has confirmed the destruction of six transmission towers along the Apir–Lafia 330kV line in Nasarawa State, causing significant disruption to electricity supply in parts of the country.

In a statement issued on Wednesday, TCN spokesperson, Mrs Ndidi Mbah, said the incident occurred on May 30 at about 1:15 a.m. during a heavy downpour.

She explained that the transmission line initially tripped, prompting operators to attempt a trial reclosure of Line II at about 2:08 a.m., but the effort failed.

A subsequent inspection of the transmission corridor, however, revealed extensive damage to key components of towers T125 to T130, confirming that the infrastructure had been vandalised.

“The tripping of the lines prompted a physical line trace to determine the fault, which revealed damage to critical components of towers T125 to T130, confirming vandalism on the affected sections of the transmission corridor,” Mbah said.

The incident has forced both Apir–Lafia 330kV Transmission Lines I and II out of service pending the reconstruction of the damaged towers.

TCN said its engineers have been deployed to the site to assess the extent of the damage and determine the materials required to restore normal transmission along the corridor.

As an interim measure, the Lafia 330kV Transmission Station is being supplied through an alternative line to minimise the impact on electricity consumers within the franchise areas of Abuja Electricity Distribution Company (AEDC) and Jos Electricity Distribution Company (JEDC).

The company condemned the persistent vandalism of power infrastructure, warning that such acts undermine investments in the electricity sector and threaten the stability of the national grid.

It also urged residents and host communities to remain vigilant and report suspicious activities around transmission installations to security agencies or the nearest TCN office.

TCN stressed that safeguarding critical national infrastructure requires collective responsibility to ensure a reliable and uninterrupted electricity supply nationwide.

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IFC, NGX Group, LCCI Unveil Nigeria Gender Country Programme

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Gender and Equal Opportunities Commission

By Aduragbemi Omiyale

A Nigeria Gender Country Programme (NGCP) to advance private sector action on gender equality and inclusive economic growth has been unveiled at a high-level virtual CEO Roundtable convened by the International Finance Corporation (IFC), Nigerian Exchange (NGX) Group Plc, and the Lagos Chamber of Commerce and Industry (LCCI).

The NGCP builds on the momentum of Nigeria2Equal and other initiatives that have advanced workplace inclusion, women’s leadership, entrepreneurship, and sustainable finance across Nigeria’s private sector.

Designed as a more integrated and collaborative platform, the programme seeks to scale impact through coordinated action among development institutions, business leaders, regulators, and the organised private sector.

Anchored on three strategic priorities, the programme aims to increase women’s representation in leadership, improve access to quality employment, and expand access to productive assets—including finance, technology, and markets—for women and women-led businesses.

The partners are expected to formally launch the Nigeria Gender Country Program at a physical event scheduled for July 9, 2026, where stakeholders will further advance implementation of the programme’s strategic priorities.

At the virtual event, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, said, “Gender inclusion is fundamentally an economic growth imperative. Closing gender gaps can unlock billions of dollars in value for Nigeria while strengthening business performance and national competitiveness. We must therefore move beyond viewing inclusion as a corporate social responsibility initiative or compliance exercise, and instead recognise it as a strategic driver of productivity, innovation, and sustainable economic growth.”

Commenting on the initiative, the chief executive of NGX Group, Mr Temi Popoola, said the initiative “presents a significant opportunity to deepen impact and accelerate progress across corporate Nigeria. By expanding women’s access to leadership opportunities, quality employment, finance, technology, and markets, we can unlock substantial economic value while building a more competitive, inclusive, and resilient private sector. At NGX Group, we believe the capital market has a critical role to play in advancing these outcomes through stronger governance, transparency, and stakeholder engagement.”

On his part, the IFC Head of Office in Lagos, Mr Christian Mulamula, said, “Closing the gender gap is one of the most significant opportunities to strengthen competitiveness and productivity. Across Africa, gender inequality is estimated to cost up to $2.5 trillion. Through the Nigeria Gender Country Program, IFC is working with the private sector to expand women’s leadership, improve access to better jobs, and increase opportunities for women-led businesses. Building on Nigeria2Equal, this initiative focuses on practical, measurable solutions that help businesses grow while advancing inclusive growth.”

In her remarks, the DG of LCCI, Ms Chinyere Almona, noted that the programme’s success would depend on leadership accountability and sustained commitment from business leaders, particularly in embedding gender inclusion into organisational strategy and execution.

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VDR, ECDIS Data Retrieved as NSIB Probes Maersk Vessel Collision at Bonny Anchorage

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Maersk Vessel Collision

By Adedapo Adesanya

The Nigerian Safety Investigation Bureau (NSIB) has commenced a forensic investigation into the collision between the container vessel MV Maersk Valparaiso and the oil tanker MT Lady Martina at Bonny Anchorage in Rivers State, following the download of Voyage Data Recorder (VDR) and Electronic Chart Display and Information System (ECDIS) data from the vessel for navigational analysis.

The bureau’s Director of Public Affairs and Family Assistance, Mrs Funke Adebayo Arowojobe, explained that in line with the International Maritime Organisation (IMO) Casualty Investigation Code and international obligations, NSIB had formally notified the Transport Safety Investigation Bureau (TSIB) of Singapore as a substantially interested State.

The incident, which occurred on May 20, 2026, has been classified by the bureau as a Very Serious Marine Casualty (VSMC).

She also said that NSIB activated its marine occurrence response protocols immediately after receiving notification of the incident, noting that the investigation Go-Team was deployed to Onne and Bonny on May 22 to commence evidence preservation and preliminary investigative activities.

The bureau disclosed that investigators boarded both vessels and conducted interviews with their masters and key crew members, while operational records and navigational data linked to the incident were secured.

Also, the director stressed that the bureau had commenced collaborative engagement with relevant local and international stakeholders as part of the investigation process, assuring the public and maritime stakeholders that the investigation would be conducted with professionalism, independence and thoroughness, stressing that the objective was to determine the causal and contributory factors of the occurrence and enhance maritime safety.

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