Tag: President Bola Tinubu

Expectations and urgent security action for Tinubu as ECOWAS Chair

The election of Nigeria’s President Bola Tinubu as new Chairman of the Economic Community of West African States (ECOWAS), during the 63rd Ordinary Session of the Authority of Heads of State and Government of ECOWAS held in Guinea-Bissau, has led to high expectations on the potential implications it may have on regional dynamics.

Tinubu’s appointment carries even more weight as the country’s influence and role in the region hold significant importance. One key issue that will likely be in focus during Tinubu’s chairmanship is the matter of border control.

The ECOWAS Borderless Protocol and African Continental Free Trade Area (AfCFTA) are sub-regional and regional economic arrangements that aim to promote regional integration and development in Africa and there has been ongoing debate surrounding Nigeria’s border closure policy.

Former senator representing Kaduna Central, Shehu Sani, commenting on the appointment, noted the protocol of ECOWAS that demands open borders for the free movement of people and goods.

“We shall see what the Chairman will do with Nigeria’s closed land borders,” he said.

Sani further advocated for the adoption of a single currency in West Africa, citing the examples of Germany, Italy, Greece, and France, who sacrificed their strong currencies for the collective good of their continent.

He emphasized the importance of a common currency for the region’s economic prosperity, stating, “It’s time for West Africa to have a Single Currency. I still wonder why it’s so difficult to achieve this.”

The basic principle of both the ECOWAS and AFCFTA agreements is the removal of all barriers to trade within the region, thereby encouraging the unrestricted movement of persons and goods within the frontiers of state borders.

But while the free movement of people and goods is a core principle within ECOWAS, the enforcement of these arrangements brings with it the potential for unintended consequences, particularly in terms of cross-border security challenges.

The region faces numerous security threats, including the proliferation of small and light weapons, human trafficking, drug trafficking, terrorism, and the rise of transnational criminal syndicates that can be exacerbated by increased cross-border activities.

These criminal activities not only undermine the stability and security of individual member states but also pose a significant obstacle to the overall progress and integration of the region.

In his address to the issue, Tinubu emphasized the urgency of taking decisive actions to confront these challenges and their detrimental impact on the region’s progress and development.

“On peace and security, the threat has reached an alarming level, and needs urgent actions in addressing the challenges. Indeed, without a peaceful environment, progress and development in the region will continue to remain elusive.

“In this regard, we must remain committed to the utilisation of all regional frameworks at our disposal to address the menace of insecurity,” Tinubu said.

Chairman of the Nigerian Association of Small and Medium Enterprises (NASME) Abdulrashid Yerima, expressed optimism that President Tinubu’s emergence as ECOWAS Chairman will ensure policies that promote economic activities in West Africa.

“The focus on bolstering economic ties and creating an environment conducive to business growth will be crucial for the region’s overall development,” Yerima said.

There is hope that under his leadership, initiatives will be undertaken to harmonize trade policies, improve market access for MSMEs, and enhance the competitiveness of products and services within West Africa.

July 12, 2023
President Tinubu arrives Guinea-Bissau for ECOWAS summit

President Bola Ahmed Tinubu has arrived in Bissau, the capital of the Republic of Guinea-Bissau, to participate in the 63rd Ordinary Session of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS).

This summit, which commences today, marks President Tinubu’s first international engagement within Africa since assuming office on May 29, 2023.

In a statement issued by Dele Alake, the Special Adviser to the President on Special Duties, Communications, and Strategy, it was stated that the regional leaders, consisting of 16 heads of state, will address critical sub-regional issues during the summit.

These discussions will include the report of the 50th Ordinary Session of the Mediation and Security Council (MSC), which will focus on the security challenges faced by member countries.

Furthermore, the leaders will deliberate on the report of the 90th Ordinary Session of the ECOWAS Council of Ministers, which covers the financial situation of the organization and the progress made in implementing the African Continental Free Trade Area (AfCFTA).

The summit will also assess the current status of political transitions in the Republics of Mali, Burkina Faso, and Guinea. Additionally, the leaders will consider memoranda regarding the ECOWAS Single Currency Programme and the obstacles hindering the free movement of goods along the Abidjan-Lagos corridor.

President Tinubu’s arrival at the Bissau International Airport was met with a warm reception, and he subsequently visited Nigerian troops serving under the ECOWAS Stabilisation Force in Guinea-Bissau.

During his visit, the President expressed his appreciation and gratitude to the soldiers and their Commander, General Al-hassan Grema, for their dedication and service to Nigeria and their host country. He emphasized Nigeria’s steadfast commitment to supporting democracy not only in West Africa but also around the world.

The discussions and decisions made during the summit are expected to contribute to enhanced security, economic integration, and political stability within the ECOWAS community.

Prior to his visit to Guinea-Bissau, President Tinubu participated in the summit on “A New Global Financing Pact” held in Paris, France, on June 22 and 23, 2023, hosted by President Emmanuel Macron.

The Paris Summit brought together numerous heads of state, representatives from NGOs and international organizations, as well as partners from the private and philanthropic sectors, to discuss and advance global financing strategies.

President Tinubu’s active involvement in international engagements demonstrates Nigeria’s commitment to regional cooperation, economic development, and fostering positive relationships with other nations.

July 9, 2023
APC, Tinubu, worried as court admits controversial EU report

The Presidential Election Petition Court in Abuja, on Monday allowed the European Union (EU) Observation Mission’s final report to be used as evidence in the 2023 general election case.

Atiku Abubakar, a candidate from the Peoples Democratic Party (PDP), submitted the report, claiming that the election was manipulated to favor President Bola Tinubu and the ruling All Progressives Congress (APC).

They claimed the Independent National Electoral Commission (INEC) used a third-party device to intercept and allocate votes to Tinubu.

But the Independent National Electoral Commission (INEC) denied the allegations and defended the election’s integrity with documentary evidence.

During the court proceedings, Deputy Director of ICT at INEC Lawrence Bayode, presented documentary evidence, including a letter from the Vice President, Kashim Shettima, to INEC, stating his withdrawal as the APC candidate for the Borno Central Senatorial election.

Bayode emphasized that the election was conducted fairly and in compliance with the Electoral Act.

He, however, clarified that the results were not electronically collated, as announced by the Chairman of INEC, Mahmoud Yakubu, prior to the election.

In response to cross-examination, Bayode acknowledged a technical glitch on the day of the presidential poll but maintained that it did not affect the final scores of the candidates.

He also stated that not all the results were electronically transmitted, and some were manually uploaded on the IReV portal.

The court, however, accepted the EU report despite objections from President Tinubu and the APC.

INEC’s counsel confirmed the EU’s accreditation to monitor the elections but stated that they hadn’t seen the final report.

The report indicated that only 31 per cent of the uploaded results were mathematically correct. Some results were not electronically transmitted, leading to questions about the election’s transparency.

In addition to the EU report, Atiku and the PDP challenged Tinubu’s eligibility, raising concerns about inconsistencies in personal information and dual citizenship.

Tinubu and his running mate, Kashim Shettima, are set to present their defense as the case continues to shed light on the credibility of the 2023 presidential election.

July 4, 2023
Analysis: Economic and business implications of fuel and FX subsidy removal

The removal of fuel subsidies and adoption of a more flexible exchange rate system had been significant policy considerations in Nigeria for many years, with the goal of improving efficiency, reducing fiscal pressures, attracting investments, and promoting economic growth.

The Nigerian government in the past subsidized fuel to cushion the impact of fluctuating global oil prices and maintain social stability.

Similarly, Foreign Exchange (FX) subsidies were implemented to provide favorable exchange rates for specific sectors or to support the importation of essential goods and services.

These subsidies were aimed at maintaining price stability and supporting economic activities in key sectors, yet their sustainability and effectiveness remained subjects of debate and criticism.

Subsidies on fuel were associated with issues such as smuggling, market distortions, corruption, and significant fiscal burdens on the government. Foreign exchange subsidies have also faced challenges due to limited forex reserves and the need for more market-driven exchange rate mechanisms.

In a bold move, President Bola Tinubu swiftly announced the removal of fuel and FX subsidies after his inauguration on May 29^th, attracting both applauds and criticisms, almost in equal measures.

TheNewsGuru.com (TNG) reports that the removal of these subsidies is set to have far-reaching implications on Nigeria’s economy and business landscape, and highlights the following likely consequences that will shape the future:

Decrease in Air and Noise Pollution

Following the recent removal of subsidies on Premium Motor Spirit (PMS), the price per litre of this commodity has surged from N195 to N537. This significant increase in cost has brought about a notable shift in the usage of generators running on PMS.

As a result, it is anticipated that there will be a decrease in both air and noise pollution, presenting a positive outlook for the environment and public health, particularly in major cities such as Lagos and Abuja where generator reliance is prevalent.

Decongestion of roads

With the soaring cost of purchasing a litre of PMS, many individuals have found it financially burdensome to continue using private vehicles for their daily commute.

As a result, a significant number of workers are now compelled to prioritize cost over convenience and have made the conscious decision to abandon their personal vehicles and join the ranks of public transportation users.

This shift in behaviour has brought about a tangible reduction in the number of private vehicles on the roads, alleviating the congestion that has long plagued major cities like Lagos and Abuja during peak hours.

By embracing public transport as a more affordable alternative, commuters are not only able to mitigate the impact of the price hike on their budgets but also contribute to a more efficient and streamlined traffic flow, resulting in shorter travel times and improved road safety.

Increase in the price of commodities

The removal of fuel and FX subsidies accompanied by the subsequent increase in fuel prices, has a direct impact on the prices of commodities. The heightened importation and transportation costs, increased production expenses, and currency devaluation all play significant roles in driving inflationary pressures. As producers and suppliers adjust their pricing strategies to account for these added expenses, consumers ultimately bear the brunt of these adjustments through higher prices for goods and services.

High exchange rate volatility

Floating the naira may lead to high exchange rate volatility due to various factors such as market forces, speculation, external events, market sentiment, and limited central bank intervention. These factors contribute to frequent fluctuations in the value of the currency against other currencies, causing uncertainty and risks for businesses. Exchange rate volatility can impact import and export costs, investment decisions, and overall economic stability.

Increase in export competitiveness

When the currency is allowed to fluctuate based on market forces, it can result in a depreciation of the currency’s value. A weaker currency makes exports more affordable and competitive in foreign markets. This can potentially boost export volumes and revenues, benefiting businesses engaged in international trade. The increased competitiveness can help stimulate economic growth and improve the country’s balance of trade.

Increase in capital flows and foreign investment

By adopting a floating exchange rate system, Nigeria will be able to create a more flexible and market-driven exchange rate environment. This increased flexibility can attract foreign investors seeking opportunities.

The ability to freely convert currencies and potentially benefit from exchange rate fluctuations can make the country more appealing for foreign investment. This influx of capital can contribute to economic growth, job creation, and the development of various sectors, reflecting confidence in the country’s economic prospects and policies.

Speaking from Paris, France, President Bola Tinubu highlighted the importance of the removal of fuel subsidy and streamlining the exchange rate to attracting Foreign Direct Investment (FDI) to the country.

Tinubu extended an invitation to prospective investors, urging them to seize the abundance of opportunities that await them in the vibrant Nigerian market and underlined the government’s unyielding commitment to fostering a propitious business environment that caters to the needs and aspirations of both local entrepreneurs and global investors alike.

Increase in debt servicing

the devaluation of the naira increases the cost of servicing foreign currency debt, leading to higher repayment burdens, and affecting the financial stability and ability to meet debt obligations.

Decrease in wealth valuation

The devaluation of the naira can result in a decrease in wealth valuation, particularly for individuals and entities holding assets dominated in foreign currencies. As a result, individuals and entities may experience a reduction in their net worth and financial standing.

This decrease in wealth valuation can also have various implications, including potential changes in investment decisions, asset allocation strategies, and overall financial stability.

In summary, while some challenges may arise, the removal of fuel and FX subsidies is expected to improve fiscal stability and pave the way for a stronger and more resilient economy.

June 23, 2023
New Service Chiefs: Uniting for security through geopolitical spread

In a bold move to revitalize the nation’s security apparatus, President Bola Ahmed Tinubu authorised the immediate retirement of all Service Chiefs, the Inspector General of Police, and the Comptroller-General of Customs.

The sweeping changes paved the way for the appointment of new leaders, with a diverse geographical spread, who will bring fresh perspectives and expertise to address the country’s complex security challenges.

This deliberate geographical spread in the appointment of the service chiefs has been hailed as a strategic approach to ensure that the concerns and perspectives of Nigerians from different regions are adequately represented in the country’s security decision-making processes.

Mallam Nuhu Ribadu, hailing from the North-East, takes up the role of National Security Adviser, while Maj. Gen. C.G Musa, a representative of the North-West, assumes the position of Chief of Defence Staff.

Maj. Gen. T. A Lagbaja from the South-West is appointed as the Chief of Army Staff, Rear Admiral E. A Ogalla from the South-East becomes the Chief of Naval Staff, and Air-Vice Marshall H.B Abubakar from the North-West assumes the role of Chief of Air Staff.

In addition, Deputy Inspector General of Police Kayode Egbetokun, hailing from the South-West, steps in as the Acting Inspector-General of Police, and Maj. Gen. EPA Undiandeye, representing the South-South, assumes the position of Chief of Defense Intelligence.

These appointments, strategically spread across the geopolitical zones, underscore President Tinubu’s commitment to ensuring a unified and comprehensive approach to national security.

Political analysts say the strategic move sends a powerful message of inclusivity and fairness and holds the potential to enhance the support and cooperation of Nigerians.

“It demonstrates that the government is actively working towards ensuring that every Nigerian feels represented and included in the nation’s security agenda. This, in turn, can contribute to increased trust, collaboration, and collective efforts in addressing the security challenges faced by the country,” public commentator Chinedu Oguejiofor said.

Similarly, prominent political commentator Reno Omokri, lauded the appointment of Ribadu as the National Security Adviser, describing it as the most impactful among President Tinubu’s recent appointments.

Omokri expressed admiration for Ribadu’s unwavering patriotism and strong moral values, noting that he has rarely encountered such qualities in other leaders.

“I have met leaders at various levels, yet, it is hard to say that I have encountered anyone as patriotic and morally upright as Mallam Ribadu. His sense of purpose will help ground President Tinubu’s administration and increase Nigeria’s standing in the international community.

“Mallam Ribadu is not a Northern Nigerian. He is a Nigerian who happens to come from the North. He is blind to tribe, region and religion in performing his duties. What he sees is character,” Omokri said.

As Nigeria strives to navigate through complex security concerns, the strategic appointment of service chiefs with diverse geopolitical backgrounds serves as a strong foundation for building a united front against threats to national security.

June 20, 2023
Analysis: Timeline of ministerial list submissions to the Senate

In the wake of President Tinubu’s recent inauguration and appointments, Nigerians eagerly anticipate the announcement of his ministerial list.

As history shows, the timing of submitting ministerial lists to the Senate has varied among past administrations.

TheNewsGuru.com (TNG) takes a look at the historical timeline of when Nigerian presidents sent their ministerial lists to the Senate following their respective inaugurations and discovered that while some administrations acted swiftly, others took more time to finalize their ministerial nominations.

For example, former President Olusegun Obasanjo wasted no time, swiftly sending his ministerial list to the Senate on June 4, 1999, a mere six days after his inauguration.

During his second term, Obasanjo followed a similar pattern, submitting the list on June 23, 2003, taking 25 days.

The subsequent administration of President Umaru Musa Yar’Adua exhibited a longer delay, taking 59 days before forwarding his ministerial list to the Senate on July 27, 2007.

Under President Goodluck Jonathan, the trend returned to a relatively shorter duration. On June 28, 2011, Jonathan sent his ministerial list to the Senate, marking 30 days after his inauguration.

The tenure of President Muhammadu Buhari, however, witnessed a significant delay in the submission of the ministerial list.

It took a staggering 124 days for Buhari to present his list to the Senate, finally doing so on September 30, 2015.

Considering this historical context, Nigerians are now curious about President Tinubu’s approach.

In a significant development on Monday, President Tinubu took decisive steps to address the country’s security challenges by ordering the retirement of all military chiefs and making key appointments.

The President’s decision to appoint major generals as new service chiefs has garnered significant attention and raised discussions about his aim to introduce fresh leadership and strategies to combat the security threats facing the nation.

While the timeline for submitting his ministerial list to the Senate remains unknown, the red Chambers is currently adjourned until July 4.

June 20, 2023
Fact-Check: CBN floats Naira leading to devaluation despite denial

Contrary to the Central Bank of Nigeria’s (CBN) denial of devaluing the naira, the decision to float the currency has indeed resulted in a devaluation by approximately 40 per cent, TheNewsGuru.com (TNG) can report.

Reports emerged claiming that the CBN devalued the naira from N461.6 to N631.00 on the Importer and Exporter (I&E) market segment, following President Bola Tinubu’s announcement of plans to unify the exchange rates.

In response, the CBN’s Assistant Director of Corporate Communications, Isa AbdulMumin, issued a statement dismissing the reports as false and misleading.

However, the CBN’s denial contradicts the reality on the ground. Financial analyst Kalu Aja explained that when a currency is floated, it allows for depreciation or appreciation.

In this case, the floating of the naira has led to its depreciation, resulting in a devaluation of approximately 40 per cent. The exchange rate at the Investors’ & Exporters’ (I&E) window opened at N712 per $1 and closed at N663 per $1 on June 16, 2023, contradicting the CBN’s claim of stability.

Aja further emphasized the lack of clarity and communication from the government regarding its policies.

“The absence of clear directives and limited information has caused confusion among the public. The government’s objectives appear to be targeting foreign investors to attract capital inflow, reduce imports, increase export earnings, and encourage remittances.

“However, there is a need for transparency and comprehensive policy communication to address the ongoing uncertainties,” he said.

The CBN later announced new measures and an exchange rate model through a recent circular signed by the Director of Financial Market Angela Sere-Ejembi.

According to the circular, “the operational rate for all government-related transactions will be the weighted average rate of the preceding day’s executed transactions at the Importer and Exporter (I&E) Window, calculated to two decimal places”.

Furthermore, the circular announces the re-introduction of the “Willing Buyer, Willing Seller” model at the I&E Window. Eligible transactions will have access to foreign exchange at this window, guided by the existing circular issued on April 21, 2017, referenced as FMD/DIR/CIR/GEN/08/007.

The CBN also plans to discontinue the RT200 Rebate Scheme and the Naira4Dollar Scheme, effective from June 30, 2023.

Chief Economist and Head Research at KPMG NG and Former Statistician General/CEO of the National Bureau of Statistics, Yemi Kale, expressed his opinion on the matter.

He emphasized the importance of identifying the drawbacks of every policy, regardless of its desirability, in order to develop effective solutions to counter or mitigate the impacts.

Kale highlighted the significance of micro, small, and medium-sized businesses in Nigeria, which constitute over 90 per cent of Nigerian businesses, employ over 80 per cent of the workforce, contribute around 40 per cent to GDP, and heavily rely on PMS for their operations.

“While the subsidy definitely had to go, I’m not sure it’s a good idea to play down the impact,” Kale said.

The move away from a fixed foreign exchange policy toward a managed float indicates a loosening of control by the CBN.

Nigeria previously maintained a tightly controlled official exchange rate, but individuals and companies faced difficulties accessing foreign currency at those rates.

This marks the first major devaluation of the naira on the official market since 2016, prior to the introduction of the managed exchange rate in 2017.

The CBN’s new measures and exchange rate model aim to address the challenges posed by multiple exchange rates and foster transparency in Nigeria’s foreign exchange market.

Meanwhile, both the Manufacturers Association of Nigeria (MAN) and Association of Corporate Treasurers of Nigeria (ACTN) have expressed their support for the CBN’s decision to float the naira, believing that it will enhance market efficiency and restore investor confidence in the Nigerian economy.

June 19, 2023
Asari Dokubo Meets President Tinubu, Vows Support to End Oil Theft

In a meeting with President Bola Tinubu on Friday, the Leader of the Niger Delta Peoples Volunteer Force (NDPVF) Asari Dokubo, pledged his commitment to ensuring the success of the new administration, particularly in combating oil theft in the Niger Delta region.

Speaking with the media after the meeting at the presidential villa, Dokubo emphasized his determination to put an end to oil theft, stating, “I will stake everything to make ‘my father’ succeed. That is a promise I have given to myself and him. Oil theft would be stopped. There would be zero oil theft in the Niger-Delta.”

It would be recalled that last November, Dokubo revealed that the individuals funding this illicit activity in the Niger-Delta were not from the region.

He asserted that those complicit in the act from the region are being financially supported, in most cases, by outsiders and represent a negligible portion of the population.

The Niger-Delta leader further disclosed that a significant amount of stolen oil was being transported to neighbouring countries such as Togo and Ghana, with the aid of high government officials.

“The people who bring these tankers are not Niger Deltans. If they are Niger Deltans, they would be so few, maybe those who have access to government and government money,” he said.

Dokubo went on to describe the elaborate process involved in stealing and transporting the stolen oil, highlighting the complex network and substantial financial resources required running into billions of US dollars.

Meanwhile, stakeholders from the Niger Delta region have sent a message to President Tinubu in response to his recent directive to “crush” oil thieves, urging him to approach the issue with care.

The second National Vice President of the Ijaw National Congress (INC) Nengi James, expressed concern over the involvement of top military officers and political figures in sponsoring illegal oil refining and crude oil theft.

James pointed out that the organised crime extends beyond the activities of local refineries and involves the ownership of vessels and the collaboration of the military.

He raised questions about the military’s presence in the Niger Delta region and their involvement in illegal activities.

The stakeholders emphasized the need for a comprehensive approach to address the issue, urging the authorities to tackle the involvement of high-ranking military officials and political elites rather than solely focusing on surveillance and blaming local communities.

June 16, 2023
Tinubu has not reopened all land borders – Customs

The Nigeria Customs Service (NCS) has once again informed the general public that President Bola Tinubu is yet to reopen all the land borders hitherto closed by the previous administration of Muhammadu Buhari.

Former president Buhari, in 2019 closed all land borders to stop the illegal importation of some goods, including foreign parboiled rice, firearms , beverages and others edible items from neighbouring countries.

However, few years later, the Buhari administration reopened a few of the land borders and others have since remained shut despite the cries from Nigerians.

Recently, some individuals started sharing an old video on social media, wherein the Controller of the NCS, Ogun 1 Area Command, Bamidele Makinde, was seen opening the barricades at the Idiroko border with Benin Republic.

The video was being shared with the caption stating that Tinubu has reopened land borders.

Reacting, the NCS Controller said the Tinubu administration has not ordered the reopening of all land borders.

According to him, the Buhari administration in 2022 reopened the Idiroko border and a few others, saying other ones remain closed until further directives from the Federal Government.

Bamidele disclosed that except for the Idiroko entry, the remaining approved borders in Ogun State like Ijofin, Imeko, Ijoun and Ohunbe are still under lock and key.

“It is only Idiroko that is open now; the others are still under lock,” he said, asking the masses to disregard the viral video.

Makinde, while addressing newsmen in Abeokuta, maintained that customs officers are public servants, whose duty is to implement government policies.

“Now, we have a new administration. A new administration will come with its own policies. There should not be any misconceptions. We are just public servants, we implement policies. Whatever Abuja says, we do,” he added.

He emphasised that, “Idiroko border is open 24/7, but the others, if you do business in those borders, we will seize your goods.”

June 13, 2023
IPC Justice Calls Out President Tinubu for Alleged Authoritarian Actions

Following the dismissal and alleged arrest of the Central Bank Governor, Godwin Emefiele, on Friday, a non-governmental organisation IPC Justice, has raised concerns over President Bola Tinubu’s recent actions, which it views as authoritarian.

It listed these actions to include signing a bill from the 9th Assembly without reintroducing it to the 10th Assembly, dismissing the Central Bank Governor, and utilizing the Department of State Services (DSS) to arrest Emefiele.

These actions have sparked debate regarding their potential violation of the Constitution, the CBN Act, and the constitutional rights of the Central Bank Governor. Critics argue that these measures might be an attempt to stifle dissent and intimidate the public.

“If Tinubu continues to act in an authoritarian manner, it could have a negative impact on Nigeria. Authoritarianism can lead to human rights abuses, economic stagnation, and social and civil unrest,” IPC Justice said.

Furthermore, it stressed that the President does not have the authority to sign bills from a previous Assembly: “According to the Nigerian Constitution, the President can only sign bills that are passed by the current Assembly. The 2011 amendment to the Constitution, which extended the President’s signing window from 10 days to 30 days, solely applies to bills passed by the current Assembly, not those passed by a previous Assembly”.

Opinions on these developments vary among the public. While some individuals, like John Obafemi, express satisfaction with the dismissal and arrest of Godwin Emefiele, citing alleged mismanagement during his tenure, others, such as Michael Labinjo, argue for a leader who embodies both authoritarian and democratic qualities to drive progress in the country.

A prominent socio-political activist Deji Adeyanju, also voiced his criticism of President Tinubu over the appointment of Folashodun Adebisi Shonubi as the acting Governor of the CBN.

“While I commend President Bola Tinubu for suspending Emefiele, I am highly disappointed that he has appointed Shonubi, a mechanical engineer as Acting Governor of the Apex bank.,” Adeyanju said.

He added: While we have been advocating for the Federal Government to stop appointing bankers as CBN Governors due to their lack of expertise in fiscal policies and managing an economy, the new president goes ahead and appoints a mechanical engineer as the Acting CBN Governor. This is a clear example of why nations fail.”

In light of these concerns, IPC Justice says it is crucial for Nigerians to hold President Tinubu accountable for his actions, and urged citizens to speak out against any signs of authoritarianism, demanding a commitment to uphold the rule of law.

June 10, 2023