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WHAT BUHARI IS BRINGING TO THE TABLE AS MINISTER OF PETROLUEM – FEMI ADESHINA
Mr. Femi Adesina, Special Adviser to President Muhammadu Buhari on Media and Publicity, was guest on Kakaaki, a program of Africa Independent Television (AIT) on Thursday, October 1.
In this interview, he talked about the much anticipated ministerial list, Buhari as the minister of petroleum and what Nigerians should expect.
Here are excerpts from the interview:
Q: First of all, let’s look at the President’s October 1 broadcast. What do you make of it?
A: We must recognise that it is a National Day broadcast, and he started by reviewing the state of the polity, particularly our march towards nationhood 55 years after flag independence. Are we a nation yet? Are we just a conglomeration of ethnic nationalities? I think on a day like this, that is the most important thing, all the others are ancillary, though important. It was an efficient broadcast, it may be short but it touched a number of crucial issues.
Q: One issue that has been generating lots of reactions is the ministerial list. The President did promise sometime in July that he was going to name his ministers in September. But what we saw was a submission of ministerial list to the National Assembly.
A: We also need to mind the process and the procedure, Our federal lawmakers would be the first people to kick if the President just reeled out the names of the Ministers and their portfolios. That would not be in order. What he does is to nominate and send to the Senate and after clearance, the Ministers begin to work. At any given time, procedure must be followed.
Q: Part of the broadcast that a lot of people would have loved to hear more from the President is the issue of national unity and inclusiveness in running the affairs of state. It appears that the President did not dwell on that and a lot of people looking at Nigeria believe that national unity and inclusiveness appear to be quite elusive. One would have expected the President to reassure the country that Nigeria stays as one and this is what I am going to do so that everyone has a sense of belonging.
A: Well, let me read this paragraph if you will permit, the President says here, “We have all the attributes of a great nation, we are not there yet because the one commodity we have been unable to exploit to the fullness is the unity of purpose .This would have enabled us to achieve not only more orderly political evolution and integration , but also, continuity and economic progress. Countries far less endowed have made greater coherence and unity of purpose”. So, he touched on what you said.
Q: Yes, he touched on it, but what I mean is that he should have dwelled on it, talking about Nigeria at 55.
A: You should also realize that he is President, and he should not be dwelling on just challenges, rather he should be working to achieve solutions , which is quite better.
Q: There are some agitations that the President seems to favour some parts of the country, so the eagerness to see who and who will make the ministerial list…
A: He also said that order is better than speed. What Nigerians want in these appointments appears to be speed, so that they can calculate how many are from the North, South, East and West, and all that. But we will get there, that is what the President is saying.
Q: The President wants to manage the country’s resources and he didn’t make any statement about the economy or the real sector, why is this so?
A: I think we are forgetting that it is a National Day broadcast. It is about Nigeria, our people, the way we have lived together. What are the challenges and how are the challenges being surmounted? All those other things cannot necessarily come into a National Day broadcast, that is what I feel.
Q: How long shall Nigerians wait for the President to say something on the economic direction?
A: The economic direction is not an opinion of one man but an aggregation of what a team feels and what they have agreed upon. That team is unfolding, we have a list of proposed ministers, that list has not been unfolded and when they are approved with their portfolios , they are the ones that will articulate the economic direction. What if the President as one man has said ,this is the direction and the team comes and feels different?
Q: Not as one man, because he has said that he has been in consultation with the Vice President and some other individual concerning solutions to our problems . Based on that statement, Nigerians are expecting that …
A: That would still not amount to an economic direction.
Q: Let us talk about some things. It was reported that the President says that his relationship with the Senate president would depend on the outcome of the Code of Conduct trial. Could you confirm that ?
A: I was at a session in New York when the President was granting that interview to Sahara TV and he said the relationship between them is cordial. The interviewer asked if they communicate and he said , yes, many times. There were some appointments that he couldn’t have made without writing the senate president. He was further asked what would be the relationship in the light of the code of conduct tribunal trial that is going on, and he said, “Yes, I have to wait for that process to end and that would determine the relationship”, which I think is just right.
Q: Ok, I think that you need to break it down further, when he said that he needs to wait for the process before the relationship becomes cordial. Does it mean, it is not cordial right now?
A: There is separation of powers between the executive and legislature…
Q: The President and Senate president are from the same party and they need to have a very cordial working relationship for the President to succeed.
A: Is there an indication that the relationship is not cordial?
Q: From the statement of the President that he is awaiting the outcome of the trial, it has pitched him on a particular level… it seems the President is saying that the senate President should not come close to me pending when the trial is over, to know whether you are clean enough or not.
A: What the president meant was that he was not going to interfere in any way and the process must play out. He was emphatic about that and of course if the process finishes, whichever way it goes, it determines the relationship between the two individuals. For a government that pays high premium on transparency and accountability, it is very important that whoever is in a top decision must be seen to be accountable to the people.
Q: One would also ask if the President is conscious of the assumption of innocence until proven guilty.
A: In all he has said, there is nowhere that assumption has been breached, No way and nowhere that it has been breached. He says that the Senate president is innocent for now and when the process ends, they continue the relationship.
Q: Ok now, let’s look at the ministerial list that was sent (September 30). We understand from what is in the news that just a few names were sent to the Senate, can you confirm this? And when would the rest be sent?
A: The President himself was clear about that, he said the first batch but nobody knows how many is in the batch
Q: I am sure that you know…
A: laughs… No…No…, you know, you are a news person and you can’t depend on everything you hear. It has been addressed to the Senate president, the list is there, he will unfold it officially. Nobody can say precisely how many. You said a few, you can’t be sure because the Senate president has not unfolded it.
Q: How many people are in the batch?
A: Well, it depends on the President. There are certain prerogatives that the President has. Ministers are one of them. He has said that this is the first batch, I think that we should wait and see who are those in the first batch and after that we know how many remains, because the constitution already states that there must be a minister in each of the states. We have 36 states in the country, so when the list is unfolded, we know how many remains.
Q: You have just returned from the United Nations General Assembly in New York, we heard that a lot of things happened there, like missing meetings that the President was supposed to attend.
A: Now, let me talk about the supposedly missed meeting. The truth is that, you don’t miss meetings that you are not scheduled to attend, That is just the truth. If you are not scheduled for a meeting, can you miss it? No.
Q: Was Nigeria not scheduled for the meeting?
A: No, Nigeria was not scheduled to be at that meeting, that is the truth.
Q: O’Brien of the UN was reported as saying that he was quite disappointed that Nigeria was not at that meeting.
A: We have a Permanent representative at the UN, Prof Joy Ogwu. The invitations Nigeria received are seven pages in all. I have them. You won’t see that meeting in any of the invitations that we got. Nigeria was not invited to that meeting and not scheduled to be there. With the passion that our President has on the Boko Haram, do you think that he will receive an invitation to a meeting that will discuss that issue and he will not be there? The truth is that Nigeria was not invited. We have said it and even the President has said in an interview before leaving New York and I guess that should rest the matter. What is happening, as far as I am concerned is storm in a teacup. A lot of people just want to find faults unnecessarily. Nigeria was not invited to that meeting, if she had been invited , she would have been there.
*Secondly, it was a meeting on Boko Haram and insurgency, there were two high levels meetings within the General Assembly days and Nigeria was at those meetings. It simply shows that she was not invited to the earlier one. Let me make this statement: it’s like Nigerians have been lied to so much that they find it difficult to now believe the truth. And the truth is that Nigeria was not invited to that meeting.
Q: Even if the President was not invited , was the Nigerian delegation aware of that meeting?
A: How could the Nigerian delegation be aware, when it was not scheduled? I have told you that every meeting that Nigeria was scheduled to attend, I have the list here and that meeting was not there. Nigeria was not scheduled for the meeting.
Q: What would have informed the President’s desire to want to become the Minister of Petroleum, when he is talking about reforming the NNPC, making it transparent? Does he not trust anyone or believe that there are capable people who can be trusted to manage this ministry properly?
A: I think the question, we will ask ourselves is: What would the President be bringing to the table, if he is going to supervise the petroleum ministry? He has been Minister of Petroleum for 31/2 years , that is a lot of experience. Those were years that things were done fairly properly in this country.
Q: A lot of people will say that things have changed over the years and lots of structures have also changed and those days may have gone….
A: But there are things that never change in life. These include integrity, transparency, truth and responsibility. Those things never change and those are the things the President would bring to bear.
Q: In the newspaper review this morning, it was reported that 21 names made the ministerial list. Now, based on the constitution, a Minister must be selected from every state. So, if the President wants to supervise the ministry of petroleum resources, how will this work out eventually? Does this mean that a particular state will have 2 slots?
A: The constitutional requirement you quoted talks about the minimum , it states that there must be 36 number of ministers, at least one from each state. We have lived in this country where we had 46, 48 ministers and all that. That already shows you that 36 is the minimum requirement but this administration is one that wants to cut cost. We don’t expect that it would have a ballooned number of ministers.
Q: What would you say to Nigerians out there, who think that perhaps if some institutions are working, talking of EFCC, ICPC and some other regulatory and enforcement agencies, we won’t be talking about recycling of ministers or minister of petroleum in the person of President Muhammadu Buhari.
A: What is wrong with recycling if that person has something he is bringing to the table? Recycling would be wrong if that person is adding no value. But if he is adding value, what is wrong with recycling? I tell you that this is one appointment, if you can call it so, that will bring a lot of value to that ministry.
Q: You said earlier that the President is bringing in honour, integrity, truth all those virtues into the ministry’s package. And the President has taken over 3 months to appoint ministers. I wonder, has he not found a Nigerian with all these qualities to run that office? We have seen in this country, where a former president oversaw this sector and there was not much difference.
A: Don’t forget that the buck stops at the President’s table. At the end of his administration, it is going to be called the Buhari administration and not the name of any Minister. Therefore, it is very important that what the President feels would make a difference in the country is what he does. At the end of the day, that administration would be rated with his name and not any other name.
Q: The last words from you Mr. Adesina before you go
A: Well, I will just like to say that Nigerians trusted this President, they elected him into office, let them continue to maintain that trust, and at the end of the day, they will not be disappointed.
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FCMB Limits Exposure in Fraud Attempt
More than ₦3 billion was targeted, but about ₦677 million reached the culprits, with recovery and prosecutions underway, reflecting how banks are responding to more sophisticated fraud risks.
Nigeria’s expanding digital banking sector is facing increasingly sophisticated fraud attempts, as financial institutions adapt to faster transactions and broader online services.
A recent case involving First City Monument Bank (FCMB), linked to fraudulent activity detected in December 2025, has drawn attention to how banks are responding to such incidents, with a focus on limiting exposure, recovering funds and working with law enforcement.
According to findings referenced in proceedings before the Lagos State Special Offences Court, the incident involved unauthorised transactions tied to a digital product. Early reports erroneously suggested more than ₦3 billion was lost. Subsequent clarification shows that over ₦3 billion was targeted, ₦2.4 billion was blocked and recovered, while ₦677 million got into the possession of the culprits. This outcome reflects the bank’s cyber security and monitoring capabilities, as well as improved collaboration among regulated financial institutions and with law enforcement agencies. Several suspects and beneficiaries have been apprehended, while recovery and prosecution efforts are ongoing, led by the Economic and Financial Crimes Commission (EFCC).
Proceedings at the Lagos State Special Offences Court have resulted in convictions, including that of a repeat offender, with restitution orders issued. Related matters are also being handled at the Federal High Court in Lagos, where additional suspects are being tried in connection with the scheme. This process is aimed at ensuring that bad actors are identified and permanently blacklisted from the financial system.
Authorities say recovery efforts are continuing as additional funds are traced.
Analysts note that the pace of legal action reflects closer coordination between financial institutions and enforcement agencies in addressing cyber-related financial crime.
The case comes as banks contend with more complex fraud methods, including social engineering and automated exploitation of system processes.
As digital products and platforms expand, so too does the risk associated with cyber-crime and related fraud.
“The scale of digital banking means risks are evolving alongside the systems,” said a Lagos-based financial analyst. “Institutions are now judged by how they manage these events.”
Observers say the sector is moving toward a stronger focus on response and recovery, rather than prevention alone.
This includes improving monitoring capabilities, strengthening transaction controls and enhancing collaboration with regulators and law enforcement. The FCMB case, with limited exposure relative to the amount targeted and ongoing recovery, reflects that shift.
For customers, the primary concern is the safety of their funds. In this case, there has been no indication of losses affecting customer deposits. Maintaining that level of protection remains central to sustaining trust in the financial system.
Nigeria’s financial sector continues to grow, supported by digital innovation and expanding access to banking services.
However, analysts say fraud attempts are likely to persist as systems become more complex and interconnected.
They say institutions will increasingly be judged not only on their ability to prevent incidents, but on how effectively they respond and recover when they occur.
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Ex-APC Deputy Guber flag bearer, Joshua MacIver backs Tinubu, express fears over implosion in Bayelsa APC
….congratulates new State Party Chairman, Warman Ogoriba
APC Deputy Governorship Candidate in the 2023 general elections in Bayelsa State, Great Joshua MacIver has declared his total commitment to the re-election of President Bola Tinubu come 2027, declaring that the Tinubu re-election project is non-negotiable.
Great Joshua MacIver, in his statement titled ” BAYELSA APC CONGRESSES: GOING FORWARD, A CALL TO LOOK INWARDS” and made available to newsmen in Yenagoa, warned APC leaders in the state to look Inward and take note of certain factors which may hinder or cut short our victory.
According to Great Joshua MacIver, such noticeable pitfalls include the imbalance in the united front being put up by the State Governor,Senator Douye Diri among various political blocs in the state.
In the statement issued at the weekend. Great Joshua MacIver stated that “First, before His Excellency, Senator Douye Diri, joined the APC in the state, there were clearly two political blocs that made up the party, with the approximate population ratios of the blocs standing at 95% to 5%.”
“After the entrance of His Excellency, Senator Douye Diri, ONLY THE SMALLER BLOC IS BEING CARRIED ALONG IN THE AFFAIRS OF THE PARTY, leaving the greater percentage to their fate, and this situation has the potential to build anger and dissatisfaction in our dear party.”
” The consequence of this has been the high level defection we have witnessed in the party recently and we believe more may likely follow, if we do not put our house in order.”
” If we do not pull together as a party, we may witness a situation where we will lose key stakeholders, especially after the State and National Assembly Primaries as well the Gubernatorial Primaries.”
“Finally, while it is very clear that we are the party to beat in the 2027 elections and that our loyalty to Mr. President IS NON-NEGOTIABLE, we must make haste to say that we cannot afford to create situations or loopholes in our unity which will be exploited by other political interests in the state. We cannot afford to under-rate anyone.”
“Our core interest remains the re-election of Mr. President, a project to which we have committed our all. We also pledge our total loyalty to the party as we have no alternative to the APC. However, our concern is that we must, as a party, look inwards and ensure that we do not create loopholes that can impede our common goal.”
Great Joshua MacIver, however congratulated the newly elected State Executives of the APC in Bayelsà State led by Hon. Warman Ogoriba, saying their emergence is welcomed at this critical time in our national history.
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