society
Emefiele-Led CBN policies killing Nigeria’s Economy, Sack Him Now – Youth Council Tells Buhari
Emefiele-Led CBN policies killing Nigeria’s Economy, Sack Him Now – Youth Council Tells Buhari
Sahara Weekly Reports That Youth Council To #Buhari: #Emefiele-Led CBN Policies Killing Nigeria’s Economy, Sack Him Now – —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 within the week depreciated to an all-time low of N730 to a U.S dollar at the parallel market.
President of the NYCN, Comrade Solomon Adodo, stressed that statements credited to the CBN Governor alleging 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, reduction in foreign direct investments and growing dependence on importation across many sectors of the economy as disingenuous and unpatriotic.
The group flayed Emefiele for completely failing to concentrate on his core mandate of price stability as the apex bank’s governor, pointing 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 as he continues to work at cross-purposes at 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 official 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 official exchange rate creating a huge incentive for round-tripping, price gouging, sharp market practices, and inflation.
“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’ confidence to restore production and reap the benefits 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. Emefiele.
“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 significant crude oil output losses of over 600, 000 barrels per day.
“We find 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 affecting the economy. These affect 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 profile is significantly influenced by CBN foreign exchange management.
“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 profile is significantly influenced by CBN foreign exchange management.
“It is however worth noting that the NNPC has recorded significant gains on production ramp-up including attaining ‘first oil’ production from the Anyala – Madu Fields and most recently Ikike fields which cumulatively boost national oil production by almost 80, 000 barrels per day.
“Furthermore, NNPC’s efforts towards attaining additional combined production of over 100, 000 barrels from fields like Obodo, Utapate etc has never abated despite the global setback recorded as a result of the effects of COVID-19 pandemic.
“History shows that Mr. Emefiele 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 financing as well as politicians.
“Furthermore, Nigerians are bearing the brunt of the inaction of the CBN Governor as the Emirates Airlines, the flag carrier of the United Arab Emirates (UAE), has reduced its flight operations to Nigeria over the inability of the CBN to repatriate about $85 million in revenue.
“Was the failure to repatriate Emirates funds also caused by the NNPC?
“The International Air Transport Association (IATA) had said Nigeria was withholding revenue worth about $450 million earned by foreign airlines operating in the country. Emirates said the planned reductions in its operations in Nigeria would take effect from August 15, 2022.
“And in a manner that fits his erratic policy, he has at present shifted all blames to the NNPC. This is clearly a case of a bad workman who blames every other person for his inability to deliver. To us at the NYCN, Emefiele is tired and should be sacked by President Buhari.
“From all indications since his failed presidential bid as well as his rejection by the All Progressives Congress, a partisan Emefiele 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. Eemefiele 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-defined periodic forex auctions, and signaling a renewed commitment to price stability as a primary goal of the apex bank.
“The NYCN further expresses the 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.
“We also hope that the NNPC Ltd would compete favourably with its peers globally and this in turn would translate to more foreign exchange for the country as well as improved national energy security
Banwo Questions Bwala’s Credibility After Al Jazeera Interview
Public commentator, Dr. Ope Banwo, has criticised Daniel Bwala, the Presidential Spokesperson on Policy Communication for President Bola Ahmed Tinubu, following a contentious interview on Al Jazeera, describing the appearance as damaging to the credibility of Nigeria’s public communication.
Bwala had appeared on a programme hosted by journalist Mehdi Hasan, where he faced a series of questions about past statements attributed to him. During the exchange, Hasan presented video clips of previous remarks by the government spokesman and asked him to reconcile them with his responses during the interview.
The exchange, which has since circulated widely online, drew attention after Bwala appeared to dispute statements that were subsequently played back during the programme.
Reacting to the development, Banwo said the episode reflected poorly on Nigeria’s representation on international media platforms.
According to him, the availability of digital records and online archives means public officials must be prepared to defend their past statements whenever they appear on global television.
“In the era of instant fact-checking, any public figure going on international television must assume that every previous statement can be easily retrieved,” Banwo said.
He added that the controversy surrounding the interview was particularly troubling because the contradictions presented during the programme were supported with video evidence.
Banwo noted that while political interviews can be confrontational, government representatives should expect tough questioning when appearing before international audiences.
The founder of Naija Lives Matters also expressed concern over Bwala’s reaction during the interview, especially his claim that he was not informed he would be required to defend his personal record.
“A government spokesman should never be surprised by questions about his own public statements,” Banwo said.
During the programme, Bwala also responded to criticism of Nigeria’s governance challenges by arguing that similar problems exist in other parts of the world.
However, Banwo argued that such comparisons do not address the specific issues raised about Nigeria.
According to him, the episode should serve as a reminder of the importance of preparation and credibility when Nigerian officials appear before international media platforms.
The interview has continued to generate reactions across social media and political commentary circles, with observers debating both the conduct of the interview and the implications for Nigeria’s global image.
society
THE IMPERIAL GOLD COIN OF THE UNITED KINGDOM OF ATLANTIS UNVEILED AS SYMBOL OF SOVEREIGNTY AND HERITAGE
THE IMPERIAL GOLD COIN OF THE UNITED KINGDOM OF ATLANTIS UNVEILED AS SYMBOL OF SOVEREIGNTY AND HERITAGE
_[Atlantis City, United Kingdom of Atlantis – March 2026]_ – The United Kingdom of Atlantis proudly announces the introduction of its *Imperial Gold Coin*, a magnificent emblem of sovereignty, authority, and imperial heritage. The exquisite gold coin has been crafted to represent the nation’s regal tradition, economic strength, and the visionary leadership of its monarch.
The centerpiece of the coin features the dignified portrait of *His Imperial Majesty, Professor Solomon Wining*, depicted in full royal regalia. Crowned with a majestic golden crown and adorned with intricately crafted ornaments, the portrait embodies honor, wisdom, and noble leadership befitting a sovereign ruler. The depiction celebrates the monarch’s reign, which is associated with wisdom, development, and the pursuit of justice.
The golden coin itself signifies *prosperity, stability, and the enduring legacy* of the Atlantis Kingdom. Gold, historically a universal symbol of power, wealth, and permanence, reflects the strength and vision of the kingdom’s leadership and its aspirations for lasting greatness.
Encircling the royal portrait is the carefully engraved inscription *“United Kingdom of Atlantis”*, reinforcing the state’s identity any the authority of its sovereign ruler. The lower rim of the coin prominently displays the name *Solomon Wining*, commemorating the monarch whose leadership is linked to noble governance and national advancement.
The phrase *“Gold Coin”* highlights not only the currency’s intrinsic value but also its symbolic significance as a representation of the kingdom’s economic structure and royal treasury. Beyond its aesthetic elegance, the coin serves as a *mark of sovereignty*, a seal of authority, and a reminder of the royal institution governing the United Kingdom of Atlantis.
The Imperial Gold Coin represents:
– *Unity* among citizens,
– *Loyalty* to the crown,
– A vision of a kingdom built upon *justice, prosperity, and noble leadership*.
Every detail—from the engraved crown to the polished golden surface—makes the coin a timeless emblem of imperial prestige and national pride. It stands as both a symbol of wealth and a monument to the legacy of royal leadership, reminding all who behold it of the enduring power and majesty of the United Kingdom of Atlantis.
The United Kingdom of Atlantis is a sovereign nation dedicated to upholding traditions of regal governance, cultural heritage, and economic prosperity, guided by the wisdom of its imperial leadership.
_Notes to Editors_:
The Imperial Gold Coin is intended for commemorative and symbolic purposes, representing the nation’s imperial heritage and royal authority.
Ajadi Visits Ibadan Chief Imam, Receives Blessings
The leading gubernatorial aspirant in Oyo State on the platform of the Peoples Democratic Party (PDP), Ambassador Olufemi Ajadi Oguntoyinbo, on Wednesday paid a courtesy visit to the Grand Chief Imam of Ibadanland, Sheikh Imam Abdul Ganiy Abubakir Agbotomokekere, at his Oja’ba residence in Ibadan, where discussions centred on leadership, integrity, and the role of prayers in governance.
Ajadi, who described the revered Islamic cleric as a spiritual pillar in Oyo State, said his visit was to seek prayers and wise counsel as he continues consultations ahead of the 2027 governorship race.
While addressing the Chief Imam, Ajadi commended his consistent prayers for Ibadanland, Oyo State and Nigeria, noting that religious leaders remain critical stakeholders in nation building.
“I have come to seek your prayers and spiritual blessings because of your important role in promoting peace, unity and moral guidance in our society,” Ajadi said.
“I also want to appreciate your continuous prayers for the progress of Ibadanland, Oyo State and Nigeria as a whole. My prayer is that Almighty Allah will continue to grant you sound health and long life to witness many more Ramadan seasons on earth.”
Speaking further, the PDP gubernatorial aspirant emphasised the need for leadership driven by compassion, fairness and accountability, stressing that his political aspiration is rooted in service to the people.
“My ambition is not just about occupying an office but about serving the people with sincerity and fear of God. We must continue to encourage politics that will bring development and improve the welfare of our people,” he added.
While speaking with journalists after the visit, Ajadi also assured the people of Oyo State and Nigerians at large that the internal crisis and political tensions within the Peoples Democratic Party (PDP) have been brought under control by the grace of God. He expressed optimism that the party would emerge victorious in all elective positions in the 2027 general elections.
In his response, Sheikh Agbotomokekere advised the governorship hopeful to remain focused on the principles of good governance, warning against corrupt practices often associated with politics.
The respected Islamic scholar noted that while politics is practised differently by individuals, only leaders with integrity and fear of God can truly deliver the dividends of democracy.
“Politics is practised by different kinds of people. Some play politics in a corrupt way, while others practise it with sincerity. My prayer is that you will be among those who will practise democracy in the right way if you become governor,” the Chief Imam said.
He reminded the aspirant that human ambition can only be fulfilled by divine approval, stressing that ultimate power belongs to God.
“Whoever is seeking a position should know that only Allah can make such an ambition come true. Whether a person becomes famous or remains unknown is also by the will of Allah,” he said.
Offering prayers for the politician, the cleric added: “Many people may be struggling for a position meant for one person, and it is only God who knows the rightful person. I pray that Almighty Allah will make you the chosen one among all the contenders.”
Using a football analogy to further illustrate his point, the cleric advised Ajadi to be wary of political distractions and misleading influences.
“On the football field, sometimes spectators believe they understand the game more than the players themselves. I pray that you will not be misled by so-called political gurus and that God will guide your steps aright,” he said.
Sheikh Agbotomokekere, the 18th Chief Imam of Ibadanland, is widely respected across South-Western Nigeria for his scholarship, spiritual leadership and advocacy for peaceful coexistence among religious and political groups.
Observers say the visit forms part of Ajadi’s ongoing consultations with key stakeholders, traditional rulers and religious leaders as political activities gradually gather momentum ahead of the next electoral cycle in Oyo State.
The cleric offered special prayers for peace in Oyo State, successful leadership, and continued unity among the people despite political and religious differences.
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