Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Reps Begin Probe As CBN Confirms Approval By Accountant-General For ‘Fake Agency’ Account Opening
    • Niger, FCT, 19 Other States Record Above 30% Inflation Despite NBS’s June Decline Report
    • Court Gives Two Ansaru Commanders Life Sentences, DSS Appeals, Seeks Death Penalty
    • FG Denies Tinubu Borrowed ₦80tn In Three Years, Blames Debt Surge On Naira Depreciation
    • Obi Signed Agreement To Serve One Term If Elected President, Kwankwaso Insists
    • Spain Reclaim FIFA’s Top Spot After World Cup Triumph As Nigeria Slip To Fourth In Africa
    • ‘The Pain Is Immense’, Messi Breaks Silence After Argentina’s World Cup Final Defeat To Spain
    • Legendary Former Liverpool, England Star Kevin Keegan Dies At 75
    Facebook X (Twitter) Instagram
    NEWS POINT NIGERIANEWS POINT NIGERIA
    • HOME
    • NEWS

      Reps Begin Probe As CBN Confirms Approval By Accountant-General For ‘Fake Agency’ Account Opening

      July 21, 2026

      Niger, FCT, 19 Other States Record Above 30% Inflation Despite NBS’s June Decline Report

      July 21, 2026

      Court Gives Two Ansaru Commanders Life Sentences, DSS Appeals, Seeks Death Penalty

      July 21, 2026

      FG Denies Tinubu Borrowed ₦80tn In Three Years, Blames Debt Surge On Naira Depreciation

      July 21, 2026

      Obi Signed Agreement To Serve One Term If Elected President, Kwankwaso Insists

      July 21, 2026
    • COLUMN

      Of Banditry And A Shared Sovereignty (3) – By Dr Hassan Gimba

      July 20, 2026

      The Nigerian Elite’s Insatiable Greed – By Kazeem Akintunde

      July 20, 2026

      Between Bola Tinubu And Lionel Messi – By Martins Oloja

      July 20, 2026

      Can Data Replace Dinner On The Nigerian Table? – By Hafsat Salisu Kabara

      July 20, 2026

      Rescued Children, Fallen Heroes And A Salute To Our Troops – By Jonathan Nda-Isaiah

      July 18, 2026
    • EDUCATION

      FG Names Prof. Adamu Acting Vice-Chancellor To Steer UniAbuja For Three Months

      August 9, 2025

      13 Countries Offering Free Or Low-Cost PhD Programmes For Non-Citizens

      January 25, 2025

      NECO: Abia, Imo Top Performing States In Two Years, Katsina, Zamfara Come Last

      October 3, 2024

      NBTE Accredits 17 Programmes At Federal Polytechnic Kabo

      August 20, 2024

      15 Most Expensive Universities In Nigeria

      May 19, 2024
    • INTERNATIONAL

      US Bombs Iran For 10th Straight Night As Tehran Retaliates, Houthis Impose Saudi Blockade

      July 21, 2026

      New UK Prime Minister Burnham Stamps Authority With Cabinet Shakeup

      July 21, 2026

      Iran Attacks Bahrain, Kuwait, Jordan After US Hits Iranian Nuclear Site

      July 20, 2026

      Russia Pounds Kyiv With Ballistic Missiles In Escalating Air War

      July 20, 2026

      US Hits Iran For Eighth Consecutive Night, Iran Returns Fire On Gulf Bases

      July 19, 2026
    • JUDICIARY

      FULL LIST: Judicial Council Recommends Appointment Of 11 Supreme Court Justices

      December 6, 2023

      Supreme Court: Judicial Council Screens 22 Nominees, Candidates Face DSS, Others

      November 29, 2023

      FULL LIST: Judicial Commission Nominates 22 Justices For Elevation To Supreme Court

      November 16, 2023

      Seven Key Issues Resolved By Seven Supreme Court Judges

      October 26, 2023

      FULL LIST: CJN To Swear In Falana’s Wife, 57 Others As SANs November 27

      October 12, 2023
    • POLITICS

      Tuggar Vs Pate: Two Ministers, One Seat, And A Defining Political Test For Bauchi 2027

      March 22, 2026

      ADC Leadership Crisis Deepens As Bala Writes INEC To Sack David Mark, Aregbesola

      March 22, 2026

      What Peter Obi May Lose If He Joins Coalition As VP Candidate

      May 25, 2025

      Atiku Moves To Unseat Wike’s Damagum As PDP Chairman, Backs Suswam As Replacement

      April 15, 2024

      Edo’s Senator Matthew Uroghide, Others Defect To APC

      April 13, 2024
    • SPORTS

      Spain Reclaim FIFA’s Top Spot After World Cup Triumph As Nigeria Slip To Fourth In Africa

      July 21, 2026

      Legendary Former Liverpool, England Star Kevin Keegan Dies At 75

      July 21, 2026

      Chelsea Agree Record £117m Deal For Villa’s Morgan Rogers

      July 19, 2026

      ‘He Made Harry Kane A defensive Player’, Trump Slams England Coach Tuchel Over Semi-Final Loss

      July 18, 2026

      Bago Appoints New Management Committee For Niger Tornadoes Football Club

      July 17, 2026
    • MORE
      • AFRICA
      • ANALYSIS
      • BUSINESS
      • ENTERTAINMENT
      • FEATURED
      • LENS SPEAK
      • INFO – TECH
      • INTERVIEW
      • NIGERIA DECIDES
      • OPINION
      • Personality Profile
      • Picture of the month
      • Science
      • Special Project
      • Videos
      • Weekend Sports
    NEWS POINT NIGERIANEWS POINT NIGERIA
    Home - President Tinubu, CBN, And The Economy

    President Tinubu, CBN, And The Economy

    By News Point NigeriaJuly 27, 2023
    IMG 0301

    By Chisom Adindu

    NEW UBA

    THE resurgence of Gestapo era last witnessed during General Sani Abacha’s jackboot regime is gradually staging a comeback in our democratic dispensation. Nigeria witnessed the abrasive invasion of the National Assembly by the Nigerian secret police, the Department of State Security Service (DSS), under former President Muhammadu Buhari.

    NNAMDI

    The President though was not in the saddle at the time, was away on medical treatment abroad. His Vice President, who acted as the President, Professor Yemi Osinbajo held sway. The Vice President didn’t blink an eyelid sacking the Director General of the agency, Lawal Daura, for the assault, and desecration of the symbol of democracy. The vice president considered the incident a misnomer that should not be allowed to fester. The northern political elite never forgave Osinbajo for that singular action.

    Ad 19
    Ad 20

    Their oligarchical chauvinism made sure Osinbajo never acted in presidential capacity till the regime timed out. Power was no longer transmitted to him even when the president was on official or medical trips.

    July 25, 2023, reenacted the ugly DNA of the DSS. The agency had arraigned Godwin Emefiele, the suspended governor of the Central Bank of Nigeria, in a high court in Lagos, accused of illegal possession of firearms and ammunition by the Federal Government. Recall that the DSS in November/December 2022 had declared Godwin Emefiele wanted for terrorism sponsorship.

    The hide and seek game came to a temporary halt after the DSS withdrew their operatives from the security details of the governor, making him vulnerable, but the former Chief of Defence Staff, General Luck Irabor, provided him a succour, replacing his security details with military personnel. We all know it was just a temporary reprieve as those who wanted their pounds of flesh of Emefiele were waiting.

    About a week ago, a court of competent jurisdiction ruled and ordered the DSS to either arraign Emefiele or release him from their detention. Emefiele until his arraignment has been incarcerated for 36 days. The agency, few hours after the court order announced that Godwin Emefiele has been charged to court. However, on the day of arraignment, the DSS threw decency to the to the winds, engaging a sister agency in supremacy fist cuff. It was not only deplorable, but condemnable.

    The judge had ruled and committed Godwin Emefiele to bail of N20m and one surety with landed property within the jurisdiction of the court. The judge also ordered that Emefiele be kept in the custody of the Correctional Service pending when the accused will perfect his bail. The DSS opposed to that, claimed to have been directed by ‘orders from the above’ to take Emefiele back into custody.

    Correctional Service personnel were disallowed from carrying out the court order, as the squadron leader of the Correctional operatives was forcefully rough-handled. It took the directive of the Comptroller General of the Service who ordered his operatives to standdown and leave the court premises to bring a semblance of sanity after securing Emefiele.

    Nigerian TAX Reform - Federal Goverment

    The charges against Emefiele are purely civil which does not warrant the show of force and shame exhibited by the DSS. Many non-state actors have been seen brazenly brandishing sophisticated weapons, but none has been seen treated as Emefiele. This is not defending Godwin Emefiele for whatever allegation brought against him, but the treatment meted out to a public officer of his stature, who has meritoriously served his country is unbefitting.

    Is Godwin Emefiele sins more than a pistol and 123 rounds of ammunition found in his house? Are these exhibits enough to make him a terrorist or sponsor of terrorism? Godwin Emefiele may have erred while doing his tenure at the CBN, but treatment being meted out to him does not justify the weight of the allegation. It is also obvious that some politicians have sworn not to forgive Emefiele and are bent on destroying him.

    From the bestial behaviour of the DSS operatives, it was obvious that Emefiele had been marked for destruction for daring to redesign the Naira at the onset of 2022/23 political campaigns. President Bola Tinubu while campaigning had cried foul, accusing the suspended CBN governor of targeting him for failure with the redesign. He never hid his disdain for Emefiele’s actions.

    National Orientation Agency Page UP
    National Orientation Agency - Down

    Peradventure Godwin Emefiele had not dabbled into politics, would President Tinubu have felt that way? But the President on every occasion labelled the CBN as a mess under the suspended governor. He alleged Emefiele to have perpetrated arbitrage and rent seeking. It was therefore obvious; he would not work with Emefiele.

    Godwin Emefiele too may have probably resigned, knowing that the political class, particularly President Tinubu, viewed his Naira redesign policy as a vendetta against his frustrated political ambition, thus it is now their time to take their pound of flesh. He should have resigned immediately President Tinubu won the election. Whether his resignation would be honoured or not is another debate altogether.

    The political class should have exercised restrain considering the economic implication of what Emefiele symbolises, the CBN. How would the international investing community see us – disobedient to court rules? A CBN governor humiliated because of petty political miscalculation or skirmish? Yet, we are a nation hungrily looking for investors. The economy is on its knees, the Naira is battered, and insecurity is devouring us.

    Emefiele’s intransigence is inconsequential to the barrage of challenges facing the nation. President Tinubu who is acclaimed to possess a large political heart of forgiveness should thread softly about Godwin Emefiele. He promised renewed hope, and to rule Nigeria with the rule of law. Incidence at the Lagos High court was barbaric, anti-rule of law, and despotic.

    President Tinubu’s golden silence while the drama lasted is suspect, belying his promise. His silence affirms the saying going around now: ‘Baba so pe’, meaning Baba said so. The economy is troubled, citizens are agonised by his economic reforms. Assuaging and giving Nigerians comfort should be his paramount desire, not missteps of an individual.

    The show of shame by the DSS operatives, witnessed globally, cast a big question mark on what President Tinubu promised and what he is doing. Are we back to the era of vendetta – Col. Sambo Dasuki, a former National Security Adviser? Squaring political squabbles?

    Nigerians went through hell on earth during the 8 years of President Buhari who whipped us with horsewhip, Tinubu should not whip us with scorpion. He should distance himself from political detractors and hyenas who do not mean well for him. Emefiele as a human being did his best but may have faltered on the job to the detriment of our socio-economic wellbeing.

    Throwing the baby away with the bathwater would be antithetical to the so-called political large heartedness of the President Tinubu. There is also the case of the suspended Economic and Financial Crimes Commission chairman, Abdulrasheed Bawa. He also has been in the confines of the DSS without prosecution for over a month. President Tinubu’s loud silence is discomforting. Or is Godwin Emefiele receiving the same treatment as Col. Sambo Dasuki? If Godwin Emefiele is to pay for his sins, the federal government should make it decent and comforting for him, not this cruelty. It casts a bad image on us as a nation.

    I ask: will the government punish those hooded DSS operatives for desecrating the temple of justice and brutalizing a sister agency? Or is this the demonstration of synergy between security agencies promised by the President?

    If this trend is not urgently arrested, I bet, it is a good pill for anarchy. A stich in time, they say, saves nine.

    Adindu writes from Lagos.

     

    Economy Emefiele Opinion Tinubu
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email

    Related Posts

    FG Denies Tinubu Borrowed ₦80tn In Three Years, Blames Debt Surge On Naira Depreciation

    July 21, 2026

    Tinubu Rejigs Federal Agencies, Appoints Fayose, Bindawa, Adeyanju, 23 Others

    July 20, 2026

    South Africa Xenophobia: This Level Of Intolerance Is Totally Unacceptable – Tinubu

    July 20, 2026

    Between Bola Tinubu And Lionel Messi – By Martins Oloja

    July 20, 2026
    Add A Comment
    Leave A Reply Cancel Reply

    Latest Posts

    Reps Begin Probe As CBN Confirms Approval By Accountant-General For ‘Fake Agency’ Account Opening

    July 21, 2026

    Niger, FCT, 19 Other States Record Above 30% Inflation Despite NBS’s June Decline Report

    July 21, 2026

    Court Gives Two Ansaru Commanders Life Sentences, DSS Appeals, Seeks Death Penalty

    July 21, 2026

    FG Denies Tinubu Borrowed ₦80tn In Three Years, Blames Debt Surge On Naira Depreciation

    July 21, 2026

    Obi Signed Agreement To Serve One Term If Elected President, Kwankwaso Insists

    July 21, 2026
    Advertisement
    News Point NG
    © 2026 NEWS POINT NIGERIA Developed by ENGRMKS & CO.
    • Home
    • About us
    • Disclaimer
    • Our Advert Rates
    • Privacy Policy
    • Terms of Use

    Type above and press Enter to search. Press Esc to cancel.

    Join Us On WhatsApp