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WHO IS AFRAID OF GODWIN EMEFIELE?

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4 years ago

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THEY DIDN'T SWAP YOUR CURRENCY, THEY GRABBED IT! 

 

WHO IS AFRAID OF GODWIN EMEFIELE?

HE’S NOT EVEN SNEEZING AND J

kTHEY ARE CATCHING THE COLD! J

 

STATEMENT BY FRIENDS
OF GOVERNOR EMEFIELE

 

 

 

 

 

 

In the past few weeks, there have been media reports on the purported interest of the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, in the 2023 presidential race, leading to stampede by interested parties and vested interests who are resorting to all sorts of blackmail, sponsored articles and choreographed comments on socialmedia targeted at tainting Godwin Emefiele’s image, impugning his character and legacy.

 

 

 

 

WHO IS AFRAID OF GODWIN EMEFIELE?

 

 

 

 

 

 

Clearly, the negative attacks are being sponsored by those who see Emefiele as a major threat to their political ambition. Truth is Godwin Emefiele has not confirmed to anyone he is running for President even as he is constitutionally qualified to do so; he has been under pressure in the past few weeks as different groups have been putting up unsolicited campaign for his candidacy. Only yesterday, as the speculation became widespread, a group of his friends under the aegis of FRIENDS OF GODWIN EMEFIELE met with him to clarify his position.

 

 

 

 

 

 

 

 

 

Here is what he told us –

  1. That he remains focused on his job and will continue supporting the Muhammadu Buhari-led federal government’s economic recovery drive;
  2. That in his career trajectory, right from his days as a young banker, he never asked, nor lobbied for a job- he was invited by the Board of Directors to be the Chief Executive Officer/Group Managing Director of ZenithBank as he was an integral part of the team, Led by founder Jim Ovia, that transformed Zenith Bank from a start-up to one of Africa’s largest banks with subsidiaries in Ghana, Sierra Leone, Gambia, South Africa, Dubai, China and the United Kingdom;
  3. In 2014, President Goodluck Jonathan tapped him to be the CBN Governor, a job he didn’t lobby for and in which his name was not among those being considered at that time. He was not even from the geo-political zone that most people thought the job would go to as the president then was from same geopolitical zone with him;
  4. Today he remains humbled by President Muhammadu Buhari’s decision to grant him an unprecedented second term as CBN Governor- again without lobbying. Thus he will continue to remain loyal to him and the Federal Republic of Nigeria.
  5. Emefiele told us that he believes it’s the prerogative of President Muhammadu Buhari to plan his succession in line with global best practices for good governance for the continuing peace and progress of the federal republic of Nigeria, as such he will play his part to stabilise the economy for an orderly transition.
  6. And given that it’s God that anoints leaders, he will leave his faith firmly in the hands of God.
  7. With these fundamental questions settled, it is imperative to address some of the lies and utter falsehood being pedaled by blackmailers and political jobbers. Who Godwin Emefiele as a threat to their ambition.

 

 

 

FROM BEGINNING AS CBN GOVERNOR

Indeed, when Emefiele assumed the position of the CBN Governor in June 2014, his task was huge, the challenges seemingly insurmountable. Today despite huge headwinds he has calmed the waters and put Nigeria back on the path of growth.

SHARP FALL IN CRUDE OIL PRICE

As you will recall there was a sharp fall in crude oil prices from 2015, which led to significant revenue shortfalls in Nigeria where crude oil represents about 95 per cent of Nigeria’s export revenue. This created major shock for the Nigerian economy, leading to a 13-month recession in 2016. In comparison to the previous years before Emefiele became the CBN governor, the average price of crude oil from 2010 to 2014 was over $100/barrel and this fell to some $30 / barrel with high production costs of some $25/barrel. Despite these challenges Emefiele’s monetary policies supported the Buhari administration and all 36 State governments, ensuring salaries were paid and much more was done, with much less, in infrastructure, steering Nigeria away from much worse outcomes while many oil producers like Kuwait, Russia, Angola and Brunei had longer lasting recessions between of 20 – 60 months.

COVID-19 INDUCED GLOBAL RECESSION

Critics must also understand that the second recession the country entered into in 2020 was as a result of the COVID-19 pandemic. Then, the global economy (Nigeria inclusive) was plunged into recession because of the pandemic which was unprecedented. It led to declines in economic activities and lockdown across the world Countries like the USA had GBP falling in 2020 by MINUS 31% in Q2, UK by MINUS 19.4% in Q2, EU by MINUS 14.1% in Q2 and Nigeria , with deft response of the CBN had MINUS 6.1% in Q2. As we all know the CBN supported fiscal authorities in the following areas.

N100 billion health sector credit facility for operators in the sector. Today, Nigeria boasts of two world-class cancer centres in Lagos and medical tourism has reduced.

  • A one-year extension of a moratorium on principal repayments for CBN intervention facilities;
  • The reduction of the interest rate on intervention loans from 9 percent to 5 percent;
  • Strengthening of the Loan to Deposit ratio policy (i.e. stepped up enforcement of directive to extend more credit to the private sector);
  • Creation of N400 billion target credit facility for affected households and small and medium enterprises; •Granting regulatory forbearance to banks to restructure terms of facilities in affected sectors;
  • Improving FX supply to the CBN by directing oil companies and oil servicing companies to sell FX to the CBN rather than the Nigerian National Petroleum Corporation;
  • Additional NGN100 billion intervention fund in healthcare loans to pharmaceutical companies and healthcare practitioners intending to expand/build capacity;
  • Identification of few key local pharmaceutical companies that will be granted funding facilities to support the procurement of raw materials and equipment required to boost local drug production.
  • N1 trillion in loans to boost local manufacturing and production across critical sectors;

DEVELOPMENTAL-ORIENTEDCENTRAL BANKER

But despite the challenges, the CBN under Emefiele has in the last seven years maintained a developmental- oriented approach in supporting the federal government to address challenges across various sectors of the economy and has initiated far-reaching reforms.

RICE PYRAMID

One issue the critics have continued to raise is the issue of the rice pyramid which was recently unveiled in Abuja. But these arm chair critics have failed to understand that through the Anchor Borrowers7 Programme (ABP), an initiative that was introduced by the Emefiele-led CBN, the lives of a lot of rural farmers have been transformed. The rice pyramid which had taken place previously in Minna, Kebbi, Gombe, Ekiti and Abuja, showed how Emefiele has used agriculture to support the federal governments wars on insecurity. The rice pyramids were build bag by bag in all the states the programme had been launched since December 2020, when it was first launched in Minna, Niger State. The programme held last month to unveil the world’s largest rice pyramid in Abuja was also an initiative of the Rice Farmers Association of Nigeria (RIFAN).

ANCHOR BORROWERS7 PROGRAMME

The ABP has been described as a major agricultural breakthrough and a source of pride to the country, as farmers, especially rice farmers, have continued to count gains under the scheme. The programme has increased banks7 finance to the agricultural sector and enhanced capacity utilisation of agricultural firms. From an average yield of 1.8 metric tonnes per hectare in the pre-ABP era, the initiative has increased the country’s average yield per hectare for rice paddy and maize to about five metric tonnes per hectare.

REDUCTION IN IMPORT BILL

Additionally, there has been a significant reduction in the country’s rice import bill, from a monstrous $1.05 billion prior to November 2015, to the current figure of $18.50 million, annually.

TAMING COVID-19

The disruption caused by the COVID-19, which also contributed to the significant drop in the price of crude oil exposed the economy’s weak underbelly. In Nigeria, the Emefiele-led CBN acted swiftly, almost when the first case broke out in the country, by unveiling a raft of policy initiatives aimed at reducing the adverse impacts of the COVID-19 pandemic on the economy.

CACOVID

Emefiele also spearheaded the creation of the Coalition Against COVID-19 (CACOVID), an initiative that brought all the private sector business leaders under an umbrella in the fight against the spread of the pandemic. This was why in its latest Article IV Consultation released in February 2022, the International Monetary Fund praised Nigeria’s effort in fighting the spread of the virus.

OTHERS

There are many other measures announced by the CBN Governor which will be detailed in due course like the support to Technology, Digital innovation, the Creative Industries and the 15 Trillion Infrastructure corporation recently launched.

  • CONCLUSION

Apparently, those behind the sponsored negative reports are afraid of Emefiele’s towering personality and service to Nigeria. But they must understand that he cannot be stampeded any way. He is focused on delivering the mandate of the Central Bank; he is rebuilding The economy of the country through import substitution policies and using agriculture to create a new rural middle class from ground up. . Those who continue to criticise the rice pyramid are too ashamed of giving glory to whom it is due. Emefiele is focused on his unfinished job and should not be distracted.

Signed

Friends of Godwin Emefiele

Related Topics:

Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Group Signs Investment Promotion Agreement in Ivory Coast as UNIPGC Deploys Funding for Capital Projects  

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23 hours ago

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May 14, 2026

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Group Signs Investment Promotion Agreement in Ivory Coast as UNIPGC Deploys Funding for Capital Projects

– Ivorycoast, Cot’devouir 

 

Noble & Gold Consulting Ltd has officially signed a partnership agreement with Gicobat Group of Company to facilitate funding for capital projects in Abidjan, Côte d’Ivoire, through the UNIPGC–Global Economic Development Council (GEDC), during a high-level Business and Investment Roundtable held in the country.

 

The meeting, which took place on May 12, 2026, at the World Trade Centre in Abidjan, brought together senior executives and stakeholders from both organizations, including His Excellency, Amb. Jonathan Ojadah GCOP, Global President of UNIPGC; Mr. Noble Eze, CEO of Noble & Gold Consulting Ltd; and the Chairman of Gicobat Group of Company, Côte d’Ivoire.

 

The roundtable focused on opportunities for capital project financing, investment promotion, and business development across strategic sectors of the economy. Following extensive deliberations, the parties finalized terms and signed an agreement aimed at advancing the projects discussed during the engagement.

 

Speaking at the event, the Chairman of the UNIPGC-GEDC, His Excellency Amb. Jonathan Ojadah, delivered a presentation titled *“How Reputable Brands Can Secure Funding for Capital Projects.”* He stated that the agreement represents a major milestone in supporting high-profile business initiatives that require structured financing and professional project management.

 

According to him, the partnership aligns with UNIPGC-GEDC’s mandate as a leading investment promotion, advisory, and business development institution operating across Africa and internationally.

 

> “Today, I am delighted to address this important topic on how leaders of established and reputable brands can secure the capital required for major expansion, technological advancement, or infrastructure development. The objective is not merely to find funding, but to attract the right funding at the most competitive cost of capital,” he stated.

 

He emphasized that brand reputation remains a critical asset in attracting investors and financial institutions.

 

> “In business, reputation is everything. In the world of capital-intensive projects, reputation is more than public perception; it is an asset class. A reputable brand represents stability, proven performance, and trustworthiness,” he added.

 

Amb. Ojadah further noted that successful funding processes begin long before formal investment pitches are made. According to him, investors seek organizations that demonstrate value stewardship, operational excellence, and financial discipline.

 

Drawing from his international experience in capital project engagements across Egypt, Kenya, the Democratic Republic of Congo, Zambia, and other countries, he highlighted several categories of major funding institutions involved in large-scale development financing. These include multilateral development banks, government agencies, private foundations, and impact investors focused on infrastructure, healthcare, real estate, energy, oil and gas, and sustainable development.

 

Among the institutions he referenced were the International Finance Corporation (IFC), the European Union (EU), the United Nations Capital Development Fund (UNCDF), the OPEC Fund for International Development, the Bill & Melinda Gates Foundation, the Mastercard Foundation, the Ford Foundation, the Rockefeller Foundation, and the UNIPGC Foundation.

 

He explained that through the UNIPGC Global Economic Development Council (GEDC), the organization facilitates funding opportunities for startups, private sector operators, and government projects through public-private partnerships (PPP), leveraging its network of international funding partners and financial institutions.

 

Amb. Ojadah identified three critical indicators commonly assessed by investors and lenders before financing projects:

 

1. **Transparency and Financial Performance** – Organizations must maintain audited financial records, quality assets, and sustainable growth patterns.

 

2. **Operational Excellence** – Investors prefer businesses with proven operational systems and stable cash flow generation, which reduce investment risks.

 

3. **A Strong Project Narrative** – Businesses must clearly demonstrate how proposed projects align with long-term strategic goals such as digital transformation, automation, infrastructure expansion, or increased market competitiveness.

 

He also outlined key strategies reputable brands can adopt in securing project financing, including bank financing, strategic partnerships, vendor financing arrangements, private equity investments, and asset-based lending structures.

 

> “Securing capital for projects as a reputable brand is ultimately about combining trust with strategic planning. Reputation is your strongest asset, and when paired with sound financial planning and a compelling vision, it becomes a powerful tool for building the future,” he concluded.

 

For Gicobat Group of Company, the partnership is expected to accelerate the execution of ongoing and proposed projects by leveraging UNIPGC-GEDC’s network of investors and financial partners. Officials of the company expressed confidence that the collaboration would significantly improve project implementation timelines and financing accessibility.

 

Organizers noted that the choice of the World Trade Centre, Abidjan, as the venue reflected the international scope and significance of the engagement, particularly for negotiations involving capital-intensive projects in infrastructure, trade, and industrial development.

 

UNIPGC-GEDC describes itself as a leading global investment promotion, advisory, and business development consultancy, working with governments, private enterprises, and institutional investors to structure, finance, and manage large-scale projects from inception to completion.

 

According to the organization, the Abidjan agreement adds to its expanding portfolio of strategic partnerships aimed at unlocking capital for projects with significant economic and social impact. It also confirmed that due diligence and project structuring processes had been completed prior to the signing to ensure project bankability and investor confidence.

 

Officials from both organizations further disclosed that implementation teams would be constituted immediately to oversee the next phase of the agreement. Although specific project details were not disclosed, both parties assured stakeholders that updates would be communicated as implementation milestones are achieved.

 

UNIPGC-GEDC also encouraged businesses, institutions, and investors with high-impact projects requiring financing or management support to engage with its team for collaboration opportunities. Further information on its services is available via UNIPGC-GEDC Official Website www.unipgc.org/gedc

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Dennis Ekamah Isn’t Building Houses—He’s Redefining What Home Means for Africans Through PropTech

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1 day ago

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May 14, 2026

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Dennis Ekamah Isn’t Building Houses—He’s Redefining What Home Means for Africans Through PropTech.

 

The founder of coHouse.ng is reimagining how millions of Africans access, experience, and share housing through technology.

 

In Africa’s rapidly evolving innovation landscape, the most transformative companies are no longer defined by the industries they enter, but by the systems they redesign.

 

For Dennis Ekamah, the opportunity was never about constructing buildings, it was about confronting a deeper question.

 

why is access to housing still so structurally difficult for millions of Africans in a digital age?

 

Rather than stepping into real estate as a developer. Dennis chose a different path, positioning coHouse.ng as a PropTech platform rethinking how housing is accessed, experienced, and shared. At the heart of this vision which is connecting potential home owners together via resource pooling for the purpose of either Living or Growth. Simply, *Connect. Live. Grow.*

 

*A Platform Not a Property Company*

 

coHouse.ng is not a real estate company. It is a technology-driven ecosystem connecting like-minded individuals into structured communities where they can live intentionally, invest collectively, and grow within a shared system.

 

From Insight to Recognition

 

In 2025, coHouse.ng was recognised among the Top 50 Tech Startups in Africa. Even ahead of its official launch, the platform attracted over 1,000 early waitlist users, individuals eager to be part of a new way of living and investing.

 

Solving for Access, Alignment, and Trust

 

Dennis Ekamah’s diagnosis goes deeper than supply shortfalls. The real barriers he argues are access, coordination, and trust. coHouse.ng tackles all three through identity verification powered by a third party verification system api. coHouse is not flying solo without the help and collaboration with government bodies across Nigeria and other African countries.

 

In his words;

“Imagine what you would achieve as an individual or group if you’re living with the right people or like-minded individuals around you.”

 

I’m not a developer, I’m not a professional realtor, I’m just someone who sees the need for this solution based on the problem we face as youth/young entrepreneurs in today’s housing deficiency across Africa.

— Dennis Ekamah

 

Join our waitlist by visiting www.cohouse.ng

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

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2 days ago

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May 13, 2026

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

 

The Federal High Court sitting in Uyo has dismissed a ₦50 billion lawsuit filed against ExxonMobil, sued as Mobil Producing Nigeria Unlimited, now Seplat Energy Producing, in a ruling analysts say could significantly reshape oil spill litigation and compensation claims in Nigeria’s petroleum sector.

Delivering judgment on April 29, 2026, Justice Onyetenu held that the suit instituted by the Ejige Ore Njenyisi Muma & Fishing Co-operative Society Ltd was incompetent and liable to dismissal for lack of jurisdiction.

The plaintiffs had sought ₦50 billion in damages over an alleged hydrocarbon spill said to have occurred on September 12, 2021.

However, counsel to the defendant, Chinonso Ekuma of KENNA LP, successfully argued that the claimants failed to disclose any legally recognisable violation attributable to the oil firm.

In its findings, the court held that the plaintiffs failed to establish any actionable wrongdoing against the defendant.

A key element in the court’s decision was the Joint Investigation Visit (JIV) Report tendered by the plaintiffs themselves, which showed that the alleged spill incident was confined within ExxonMobil’s operational facility and did not impact the members of the cooperative society or their sources of livelihood.

The court further ruled that claims arising from such incidents must be pursued strictly under the statutory compensation framework provided in Section 11(5) of the Oil Pipelines Act, rather than through common-law claims founded on negligence or nuisance.

Justice Onyetenu held that the plaintiffs’ attempt to circumvent the statutory regime by framing the suit as a tort action rendered the matter incompetent before the court, thereby depriving it of jurisdiction.

Legal analysts say the judgment reinforces the supremacy of the Oil Pipelines Act in determining compensation procedures relating to oil pipeline incidents and environmental claims in Nigeria.

The ruling is also seen as strengthening the evidential weight of Joint Investigation Visit Reports, particularly in cases where such reports indicate no direct impact on claimants or host communities.

Industry observers believe the judgment will have far-reaching implications for future oil spill litigation, especially regarding the procedural requirements for compensation claims against oil operators.

The court’s decision further provides clarity for operators within Nigeria’s energy sector by reaffirming that compliance with Section 11(5) of the Oil Pipelines Act is mandatory and cannot be sidestepped through alternative legal formulations.

While K.O. Uzuokwu appeared for the plaintiffs, the defence was led by Chinonso Ekuma of KENNA LP on behalf of ExxonMobil.

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