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Coup Threatens $180m Nigeria, Niger Republic Cross-border Trade
Export and transit cargoes between Nigeria and its West African neighbour, Republic of Niger, worth $180million are lurching towards a decline due to the sanctions placed on Niger by the Economic Community of West African States (ECOWAS), LEADERSHIP Sunday findings have revealed.
ECOWAS had sanctioned Niger Republic after its presidential guards toppled the government of President Mohamed Bazoum and announced Abdrahmane Tchiani as the new president.
Part of the sanctions slammed on that country by the regional body include border closure against Niger Republic and the Nigeria Customs Service (NCS), with security forces already ensuring strict enforcement of the directive by shutting the Nigerian-Niger Republic borders at the seven Nigeria’s northern states of Kebbi, Sokoto, Zamfara, Katsina Jigawa, Yobe and Borno.
Following the closure of the borders, cargoes bound for Niger Republic as well as those bound for Nigeria are currently trapped at the borders of the two countries.
The acting comptroller general of Customs, Bashir Adewale Adeniyi, also ordered officers of the Service to stop all transit cargoes heading to Niger Republic through all land borders and seaports across the country.
According to him, following the closure of the Nigerian- Nigerien borders, transit cargoes may be smuggled through other Land border posts in the country.
According to him, all transit cargoes headed for Niger Republic through the other land borders, including Idiroko, must be stopped.
He said, “We are monitoring what is happening in Niger Republic and I can assure you that implementation of that directive given by the ECOWAS head of states is 100 per cent and when that is happening smugglers will want to explore openings in other borders, and may want to use other routes. All transit goods heading for Niger Republic should be stopped.”
LEADERSHIP Sunday investigation has shown that transit cargoes headed for Niger Republic no longer come into Nigerian seaports.
Checks by our correspondent from container terminals during the week showed that Nigeria has no record of handling transit cargoes for the landlocked West Africa country.
Maritime experts, however, argued that Nigeria has been removed from the transit nations by Niger Republic.
But at the leading terminal operator, APM Terminals, Apapa, there is no cargo destined for Niger Republic brought into the terminal.
A source who craved anonymity said cargoes destined for Niger Republic are not in the terminal but it is possible they come and offload the cargoes on trucks at various warehouses and take them to the West African country by road.
Also, Port & Cargo terminal, Tin Can Island, said they have never received Niger Republic-bound cargoes.
The newly commissioned Lekki port also stated that Niger Republic-bound cargoes are not part of transit cargoes received in the port in July.
According to the https://oec.world/en, in 2021, Nigeria exported $180 million to Niger Republic. The main products exported from Nigeria to Niger were Electricity ($54.2 million), Rolled Tobacco ($45.1 million) and Cement ($38.3 mliion).
During the last 26 years Nigeria’s exports to Niger have increased at an annualised rate of 6.05 per cent, from $39 million in 1995 to $180 million in 2021.
Also, Nigeria’s trade through Niger in 2020 was $1.3 billion, while trucks from Nigeria account for 40 per cent of the total daily traffic of 104,179 trucks per day along the trans-Saharan road corridor, data compiled by United Nations Conference on Trade and Development showed.
The trans-Saharan road corridor borders seven northern Nigerian states – Sokoto, Kebbi, Katsina, Zamfara, Jigawa, Yobe, and Borno. This is a vital trade route for Nigeria, connecting the country to its landlocked neighbours in the Sahel region.
However, the Zamfara/Sokoto command of the Nigeria Customs Service (NCS) said over 2.5million metric tonnes of export cargoes have passed through the Illela border, Sokoto State, into Niger Republic in the last six months.
According to data obtained by LEADERSHIP, commodities that are mostly transited through the corridor are Cement, Tobacco and Coal, with each truck usually carrying 1000 tonnes.
Speaking exclusively with LEADERSHIP Sunday, former executive secretary, Nigerian Shippers’ Council (NSC), Barr Hassan Bello, said 30 percent of Nigerien transit cargoes pass through Nigeria borders to Niger Republic.
According to him, the leadership crisis in the landlocked country will bring a setback to gains recorded by Nigerians to make use of its ports and trade corridors to deliver their cargoes.
Bello further noted that Nigeria is closer to Niger Republic than other African countries, saying Nigerien Shippers’ do incur additional cost by routing their cargoes through other neighbouring country than Nigeria.
He said, “It’s been our hope to have bulk of Niger Republic cargoes and the Nigerien Shippers’ have started believing in Nigeria’s ability to make the process seamless. Niger has its cargoes ship to Cote D’Ivoire, Benin Republic and some other neighbouring ports, and it doesn’t make economic sense because of the proximity and the affinity between Niger Republic and Nigeria.
“As a matter of fact, the Kano-Maradi rail line and the Dala inland dry port were all efforts by Nigeria to capture that transit cargoes, and the Customs are our partners as they have made some trade facilitation concession so that Niger Republic will transport cargoes. But the unfortunate incident may temporarily disrupt that plan. I think in the long run, there will be peace and there will be normal relationship. That is why war is destructive of international trade.”
Speaking on the tonnage, he said, “I know the tonnage is substantial and we ought to have captured all of it but maybe about 30 percent of transit cargoes move from Nigeria to Niger Republic currently”.
Also speaking, president of National Council of Managing Directors of Licenced Customs Agents (NCMDLCA), Lucky Amiwero, said that the closure of the border has security implications, which he cannot comment on.
“For some time, Nigeria has been removed from the transit nations. We don’t even know if that transit has started. Negotiating transit is not an easy thing because we still have encumbrances when it comes to factors that limit our countries to these landlocked countries. I don’t know if those areas have been rectified,” he added.
He said it is an economic issue because Nigeria has been delisted from the list of transit nations, adding that negotiating for transit status would be an economic avenue to pursue.
“In a real sense of it, if it is done, it is going to affect Nigeria’s place in the transit nation. Transit module is not in persistence yet in the country. Ghana has its transit that is satellite driven while Nigeria’s own is still manual. Ghana and Côte d’Ivoire have an edge over Nigeria. Becoming a transit hub is more than making noise about it,” he said.
[Leadership]
Nigeria to experience three days rainfall - NiMet predicts
The Nigerian Meteorological Agency (NiMet) has forecasted three days of cloudiness, rainfall and thunderstorms across the country from Saturday to Monday.
NiMet said there would be cloudy skies on Saturday, August 12, with intervals of sunshine over the northern region and chances of early morning thunderstorms in states such as Kebbi, Adamawa and Taraba.
Isolated thunderstorms are expected over parts of Borno, Adamawa, Taraba, Bauchi and Gombe later on Saturday.
The agency predicted a cloudy atmosphere over the north-central region with prospects of rains and thunderstorms over parts of the Federal Capital Territory (FCT), Nasarawa, Niger and Kwara in the morning hours.
Cloudy atmosphere is expected over the inland states of the South and its coastal states in the morning with chances of intermittent rains over parts of Ogun, Oyo, Lagos, Enugu, Imo, Anambra, Abia, Cross River, Akwa Ibom, Bayelsa, Rivers and Ebonyi states.
Nimet also said there will be intermittent rains over parts of Lagos, Ekiti, Edo, Ondo, Oyo, Ogun, and Delta and sunshine over the northern region with prospects of morning thunderstorms in parts of Kebbi, Sokoto and Zamfara. Thunderstorms are anticipated in parts of Bauchi, Borno, Gombe, Borno, Taraba, and Adamawa.
While airline operators have been urged to avail themselves of weather reports and periodic alerts from NiMet for effective planning of their operations, Nigerians have been advised to look out for moderate to heavy rainfall that could lead to flash floods.
Risk and disaster managers, agencies, and individuals have been asked to be proactive in averting the loss of lives and properties during the rainy season.
Niger Crisis: Border Communities Decry Rising Food Prices, Troops Lament Hunger
Prices of food items have gone up in some Nigerian border communities owing to the border closure enforced against Niger Republic following the country’s junta’s refusal to restore ousted President Muhammed Bazoum to office.
The Economic Community of West African States (ECOWAS) had slammed sanctions on Niger and lately ordered its standby force to restore constitutional order in the West African nation; a move that had been widely rejected, especially in Nigeria.
As the impasse lingers, residents of border communities in some states in northern Nigeria told Daily Trust on Sunday that the situation had resulted in high cost of food items.
A resident of Illela Local Government Area of Sokoto State, which shares border with Konni Local Government Area in Taohoua State of Niger Republic, said most of the food items there were from Niger.
“There’s scarcity of perishable items in our community because of the border closure,” he said.
According to him, the price of a bag of foreign rice has risen from N30,000 to N50,000.
“Prices of other food items also skyrocketed. For instance, a bag of millet is over N60,000,” he added.
Residents of Jibia in Katsina State, under the aegis of the Jibia Peoples Forum, had written a letter of complaint to the Comptroller-General of the Nigeria Customs Service, accusing security officers of charging exorbitant amounts on truck conveying food items.
In the letter signed by its secretary, Bashir Lawal Jibia, the forum stated, “On behalf of the people, traders, merchants and neighbours, we hereby forward our grievance against Nigeria Customs and other security agencies operating along the Katsina-Jibia highway concerning their attitude towards free-flow of essential commodities into Jibia Local Government.
“The items include floor, cement, agricultural products, both perishable and non-perishable, house furniture, building materials, all made in Nigeria, are not allowed to pass freely into Jibia market without clearance from the Nigeria Customs house upon payment of exorbitant charges, ranging from N70,000 to N 120,000 per truck without official receipt.”
A resident of Jibia, Nasiru Abdulkadir, expressed fear that should war break out between Nigeria and Niger, farmers in the area would not be able to access their farms anymore.
A resident of Kwangwalam, Hamza Muhammad said, “After the coup in Niger, only Civil Defence officers were deployed to Kwangwalam border, but the situation is very tough now as people can hardly afford food items due to their high cost.”
Nigerian soldiers and civilian JTF stationed at Malamfatori, a neighbouring town to Niger, complained of acute shortage of food and other essential items.
One of the soldiers told our correspondent that: “There hasn’t been any food supply to us since the last one we received from Maiduguri over a week ago. Now, Nigeriens soldiers have completely prevented us from crossing to buy food in Bosso.
“Before the last ECOWAS meeting, we had an understanding that two soldiers or CJTF would drop their guns, wear mufti and cross to Bosso to buy food items. But now, it is a total shutdown.”
He said people in border communities lived in fear as business activities had stopped.
“Even the man who was supplying food to us before this coup said they couldn’t get supply through the Cotonou border despite high demand and shortage of the food items in the country,” he added.
Also, residents at the border communities of Dikorari, Jaramidi, Kaska, Tulo-tulowa Dumar, Gidigir, Mallawa, Ngamdu and Funai decried shortage of food and high cost of items.
Mallam Sile Mella, a resident of Dikorari said, “Most of us combining business with farming have lost hope this season. We sold our livestock and reinvested in our farms. Now, we lost everything and we don’t have food to eat.”
A resident of Jarimidi village, a border town in Yunusari Local Government Area of Yobe State, Audu Mai Aazara, lamented, “We are in serious food shortage, and our morale to farm was dampened by the dry spell we are witnessing.
“Now, many of us that have farmlands in Niger had to abandon them because Nigerien soldiers don’t allow us into their country,” he said.
Doping: World Athletics clears Tobi Amusan
Nigerian track and field athlete, Tobi Amusan, has been cleared by the World Athletics to compete in the World Championship starting this weekend in Budapest, Hungary.
Amusan’s chances of participating at the Budapest 2023 World Championships had been hung in the balance as she was undergoing the doping investigation.
The Athletics Federation of Nigeria (AFN) did not include her name in the upcoming competition as the world’s athletics body had not confirmed her.
The Athletics Integrity Unit (AIU) initially suspended the 26-year-old for missing three consecutive tests but has now given her the nod to represent Nigeria at the World Championship.
She appeared before the jury Thursday and got a favourable verdict.
Amusan ran the fastest time ever in the hurdles at 12.12 seconds in the semi-final of the women’s 100m hurdles and in the final she recorded 12.06, it was adjudged to the wind aided. The stunning delivery left the world spellbound.
And ahead of the Budapest 2023 contest she is the woman to beat, but her suspension in July cast a shadow on her quest to retain the title. She had posted a 12.34 seconds after a slow start to the season.
Nia Ali leads the world ahead of Budapest athletics showpiece with 12.30 seconds. Jasmine Camacho-Quinn and Kendra Harrison have 12.31 season best.
Ministerial appointment: Don’t discard El-Rufai – Okechukwu appeals to President Tinubu
A foundation member of the All Progressives Congress, APC, Mr Osita Okechukwu has appealed to President Bola Ahmed Tinubu not to eject Mallam Nasir El-Rufai as a member of his cabinet.
The appointment of the former Kaduna governor has been a subject of controversy after his confirmation was put on hold by the Senate allegedly by security report.
There has also been a report that El-Rufai following the mix up has opted to reject the ministerial slot.
However, Mr Okechukwu, while answering questions from journalists in Abuja on Sunday, counselled that El-Rufai’s expected quality contributions to the nation as minister of power should be put into consideration.
Okechukwu, who is also the Director General of Voice of Nigeria, appealed to President Tinubu, to as a matter of urgent national importance, to halt his ejection of El-Rufai from the Federal Executive Council. Especially when Mr President earlier publicly invited Malam to make his Cabinet.
He recalled making a similar appeal in 2015 that El-Rufai should be made Chief of Staff but former President Muhammadu Buhari preferred him as governor of Kaduna State.
According to him, “The extraordinary El-Rufai tonic was lost by Buhari and one will not like neither our dear nation nor President Tinubu to miss this rare gem. In addition, our great party the APC, will benefit immensely from plethora of performing ministers as we approach 2027 general elections.”
While harping on the ideas El-Rufai would bring on the table towards revamping the nation’s power sector, Okechukwu said: “El-Rufai’s ejection from the system will regrettably lead to the ejection of more Nigerians from the National Electricity Grid.
“A lot of rich Nigerians are already ejected from our public electricity supply chain by epileptic power supply and many poor Nigerians by high tariffs. We need a unique one like El-Rufai to fix it.”
Accused of bootlicking, Okechukwu quipped, “I am neither a cheerleader of Malam Nasir El-Rufai nor am I saying that he is indispensable; however, as Mr Project, he is equipped more than some of us to not only transform our electricity chain, but sanitise the toxic energy industry.”
Okechukwu went further to state unequivocally that “Nigeria cannot develop until we fix our electricity supply chain, as small, medium and larger scale industries cannot thrive successfully under less than 4,000 megawatts.
“President Tinubu should not eject El-Rufai because of his minuses, for his plus track records in BPE, FCT, and Kaduna State confirmed his exceptional competence and capacity to overhaul our electricity chain.”
“One understands that after Mr President’s invitation he had assembled a team for this onerous assignment. Let him be Mr President,” Okechukwu appealed.
Asked if he is not aware of El-Rufai’s alleged transgressions which may be the reason behind the security report against him, Okechukwu answered that, “One wholly condemns injustice of any hue from anyone, let alone the reckless killings which took place in Kaduna under his watch.
“Injustice anywhere is injustice to all; however, saving thousands of lives that die in Nigeria daily by omission or commission over the years as result of epileptic power supply may be an atonement for Malam El-Rufai. Otherwise, it is only in heaven that multiple angels abound.”
[DailyPost]
Niger Coup: Priority Must Be Given To Dialogue And Diplomacy – Peter Obi
The presidential candidate of the Labour Party in the 2023 elections, Peter Obi has urged leaders of the Economic Community of West African States (ECOWAS) to prioritize dialogue and diplomacy in its effort to restore democracy in Niger Republic.
The West African bloc has been grappling with restoring political order in Niger following the toppling and detention of President Mohamed Bazoum by the military on July 26.
In its latest extraordinary summit on Niger in Abuja, Nigeria on Thursday, ECOWAS ordered the deployment of its standby force to restore democracy in the West African nation.
But reacting in a post on his Twitter handle on Sunday, Obi said “diplomacy must remain the overarching imperative in resolving the present crisis.”
The former Anambra State governor said that it is important that the people of Niger are allowed the opportunity to revert quickly to a representative democratic government via their national institutions.
While he admitted that ECOWAS must seek to discourage the spread of military dictatorships in West Africa, Obi maintained that the recourse to armed deterrence must be retrained by multilateral diplomatic mechanisms.
The post read, “Recent developments in the neighbouring Niger Republic have become the subject of international attention. For Nigeria, this development is a matter of dire and urgent national interest and security.
“Inevitably, Niger is a hot-button issue for ECOWAS, as well as various international interlocutors. Regardless of the positions taken by various parties that have direct or tangential interests in Niger, primacy must be given to dialogue and diplomacy towards a resolution with minimal disruptive impact on Nigeria and the West African sub-region.
“A total diplomatic resolution must take into consideration the realpolitik of the West African sub-region.
“I applaud the respective mediatory efforts by Gen. Abdulsalami Abubakar, His Eminence Muhammadu Sa’ad Abubakar, the Sultan of Sokoto and His Royal Highness Sanusi Lamido Sanusi. Whereas ECOWAS authorities have indicated that they remain open to various conflict resolution options, diplomacy must remain the overarching imperative in resolving the present crisis.
“I join the many well-meaning Nigerians who have advocated that any intervention in the crisis, should be pre-eminently through diplomatic dialogue among all strategic interests in the crisis.
“It is therefore important that the people of Niger are allowed via their national institutions, the opportunity to revert quickly to a representative democratic government. All national, regional and international assistance should be extended to the people of Niger to return their country to normalcy.
“While ECOWAS must seek to discourage the spread of military dictatorships in West Africa, the recourse to armed deterrence must be retrained by multilateral diplomatic mechanisms.
“What the situation in Niger urgently calls for is a concerted multilateral coalition of Nigeria, ECOWAS, the AU and the UN towards a programmed return to a democratic constitutional order. In this process, Nigeria’s leadership role must not be in any doubt.”
[Channels TV]
Niger Coup: DHQ Directs Service Chiefs To Compile War Items
The Defence Headquarters has reportedly commenced preparations for the possible mobilisation of troops and equipment for a possible confrontation with coup leaders in the Niger Republic.
This is coming amidst directives by the Economic Community of West African States (ECOWAS) for troops to be on standby.
The decision was taken at an extraordinary summit of the ECOWAS Authority of Heads of States and Government hosted by President Bola Tinubu in Abuja.
The summit was attended by top diplomats from the United Nations, African Union and the regional bloc.
Recall that the junta on the 26th of July had forced the elected President, Mohamed Bazoum out of office.
According to Punch, the Nigerian military high command had directed the service chiefs to compile and submit-war requirements such as the number of personnel, equipment, logistics and financial costs to the Chief of Defence Staff.
The platform noted that it is the preliminary stage in the planning process of amassing human and material resources required for the planned military intervention in Niger.
A leaked memo indicated that about two battalions would be required to prosecute the war against the junta in the Niger Republic.
A battalion is a military unit typically consisting of 300 to 1,000 soldiers commanded by a lieutenant colonel and subdivided into a number of companies (usually each commanded by a major or a captain).
A military source who spoke with Punch said the total number of troops should be at least “10 times more than that of the enemy.”
Apart from Nigeria, Senegal, Benin and Ivory Coast, other ECOWAS member states are expected to commit troops to the standby force.
However, giving an update on the ECOWAS resolution on Friday, reliable military sources that spoke with Punch said the Nigerian military authorities had started activating the necessary levers to give full expression to the resolutions of the West African leaders.
A source noted that the Defence Headquarters would coordinate the deployment of troops and equipment for the operation.
The source said, “No deployment has been made for now, but the build-up is ongoing. Services are to forward requirements such as the required number of men, equipment as well as funds that would be needed to mobilise troops to Niger. The DHQ will coordinate the deployment of troops for the operation in Niger.”
When asked about the total number of troops that would be deployed, another source stated, “Military deployments are shrouded in secrecy, but it depends on how many men would be contributed by all members of ECOWAS. The total force should be at least 10 times more than that of the enemy.”
However, the Director of Defence Information, Brig. Gen. Tukur Gusau assured Nigerians that the participation of the country in the military operation in Niger would not affect the ongoing war against insecurity in the country.
His reaction followed concerns by security experts that military involvement in Niger might impact the ongoing operations against criminal elements across the country.
Asked if the ongoing operation against members of the Indigenous People of Biafra and the Eastern Security Network, Boko Haram terrorists and bandits would not suffer setbacks with the planned deployment of troops to Niger, Gusau said, “I want to assure you that it will not in any way.”
The DHQ spokesman declined to speak on the preparations for the planned military intervention in Niger.
Full List: Ogbono Beans, Egusi, Other Nigerian Foods Rejected Abroad
No fewer than ten Nigerian foods and goods are currently rejected abroad, the National Agency for Food and Drug Administration and Control (NAFDAC) revealed.
While delivering a speech at the 3rd CHINET Aviacargo conference during the weekend in Lagos, the Deputy Director, Export Division, Ports Inspection Directorate, NAFDAC, Sanwo-Olu O.A., revealed some of the commonly rejected export food commodities from Nigeria from 2018 till date and in the top 10 include sesame, beans, melon seeds, peanut and smoked fish/fish meal, ginger, spices paper, hibiscus flower, palm oil and ogbono.
According to her, the goods are rejected abroad due to non-adherence to standardised clearance procedures by stakeholders.
In the speech titled “Unlocking the Logistics Barrier to Improving Agro Exports Products,” Sanwo-Olu blamed the rejection on non-adherence to set standards by freight forwarders, cargo handlers, airlines/carriers, and regulatory agencies, as well as poor inter-agency collaboration amongst others.
The NAFDAC official, hence, called for collaboration among stakeholders to ensure that export trade meets the requirements of the country’s trading partner in terms of quality, standards and quantity as trade increases.
Imo Election: Uzodinma Dumps Deputy, Unveils Female Running Mate
Ahead of the November 11 gubernatorial election in Imo State, the incumbent governor of the state, Hope Uzodinma has unveiled his running mate, Lady Chinyere Ihuoma Ekomaru at Land Mark event center, new Owerri, Imo State on Saturday
Governor Uzodinma unveiled his running mate at an expanded stakeholders meeting of the All Progressive Congress (APC) party in Imo State.
Ekomaru hails from Mbaitoli local government area of Imo state and is married to a Senior Advocate of Nigeria, Chief Chukwuma Ekomaro who was a former commissioner for youths and sports and formerly of the People Democratic Party (PDP) and was once a governorship candidate under PDP.
She is a senior Lecturer at Alvan Ikoku Federal College of Education since 2003 till date and is blessed with three sons.
CBN Debt: FG, National Assembly indicted as Nigerians react to $13.8bn owed to foreign banks’
The Central Bank of Nigeria has drawn the ire of Nigerians on social media, as they revealed a $ 13.8 billion debt owed to foreign banks (JP Morgan and Goldman Sachs).
Nairametrics reported that the apex bank owes JP Morgan and Goldman Sachs a combined sum of $7.5 billion as of the financial year ended December 2022.
Also included as part of its liabilities is another $6.3 billion owed in foreign currency forwards.
This was contained in the audited financial statement of the apex bank, published on its website.
Nigerians have taken to social media to express their concern about the debt as many questioned why the CBN was using the country’s foreign reserve as collateral for loans while others blamed the lack of oversight from the National Assembly.
Reactions on social media
Kalu Aja questioned why National Assembly failed to provide oversight functions that would have stopped Buhari and Emefiele from taking the loan.
“Who owns fx reserves? CBN Who spent fx reserves? CBN Spent on what?
Defending the Naira Why did the Naira need defending? Because it was weak I.e., $1: N469 Why was the Naira weak? Many reasons but a big reason was the CBN printed N23t for Buhari to spend at will without oversight Who should have provided oversight on the printing of N23t? ‘
Well National Assembly and Debt Management Office So the CBN printed N23t, whichownsFx made the Naira lose value, then same CBN used foreign reserves to prop up the Naira they were weakening? Yes. Will anyone go to jail? Depends.”
Seun Onigbinde also questioned the lack of checks and balances in the National Assembly.
“That second term with no guardrails from the National Assembly wrecked the economy. I hope you realize why institutions matter and why independent entities must function so.”
Tola expressed his disappointment towards the debt and sees the lack of oversight as economic sabotage.
“Reading the CBN financials and this is so unfair. This is wickedness. How does a CBN governor (Emefiele) mismanage any entire economy like this, with no oversight and no care for the 200 million people who will pay the price for such mismanagement. This is purely economic? sabotage”
MalachyOdo is of the opinion that aside CBN’s debt NNPC’s financial statement also should be looked into.
People have only had a sneak peek into the affairs of CBN under Emefiele/Buhari and tears are flowing. By the time NNPC books are opened up, blood will flow. The thievery that went on between 2015-2023 is unprecedented.”
Ridwan Oke believes Buhari should also be blamed for CBN’s debt due to the fact that he renewed Emefiele’s tenure.
“You can’t put the whole CBN issue on Emefiele. Whilst Emefiele is naturally an unfortunate person, Buhari didn’t just renew his tenure, he supervised his atrocities personally.
Each of Buhari’s appointees knew from the date of their appointment that no matter how bad they were, they had job security. At no point did he fire any of his appointees for underperforming.
The few he had to let go, he was literally forced to take action or they had to resign due to pressure from the public. He appointed them and left them to continue misbehaving. And these economic woes?
He supervised them personally and he is responsible for all of them. That is Buhari’s legacy!”
Emeodi Mba thinks Emefiele won’t be indicted for the situation surrounding the CBN debt as he believes other political/government leaders are involved too.
“The main reason they couldn’t indict Emefiele is bcos he’s not alone, many names must’ve popped up such as, Buhari & his inner circle, Minister of Finance, Leaders of 9th Assembly & others.
The web likely must’ve touched Jagaban’Jagaban’s inner circle too, na why everybody run? No case!”
Bolu believes the CBN debt would hurt the naira/dollar exchange rate.
“The summary of the released CBN financial statements is that the Naira will probably sink to 1,500 to USD within the next six (6) months.”
Aisha Yesufu wants Buhari and Osibanjo to stand trial for the state of CBN debt.
“Emefiele Osinbajo Buhari All should be on trial. There is no longer immunity for the last two”