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Forex Crisis: Arrest 5 Bank MDs Like Sanusi, APC Chieftain Urges Cardoso
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A Chieftain of the All Progressives Congress, Ayo Oyalowo, has advised the central Bank governor, Olayemi Cardoso to be bold enough to arrest five prominent commercial bank managing directors and made them to face the full wrath of the law if he is ready to stop the free fall of the naira against the dollars, pound sterling, euros and Canadian dollars.
Oyalowo, who was on channels television current affairs programme, Politics Today, monitored in Lagos on Tuesday, said the CBN governor can not do ‘paddy paddy’ with the bank managing directors who are desirious to destroy the economy.
He said Cardoso must have the ‘balls’ to arrest at least five managing directors of the commercial banks involving in the round tripping like former CBN governor, Sanusi Lamido Sanudi did during his tenure to stem the tide.
“It’s because the bank has abdicated its responsibilities, which is why you have to go under the tree to do forex transactions.
“The under the tree Mallams are not the problem. The CBN must be ready to take on the bank executives to solve the free fall of the naira.
“What we have now is that we don’t have any board superintending the bank MDs.
“The MDs are very powerful, and the board can not control them.If the CBN is ready to take on the bank MD, they should talk to me privately. I’ll give them at least five names to arrest and prosecute,the problem will be solved.
“For instance, what economic activity is driving the value of the naira?”
“What are the banks doing now and declaring humongous profits?” He asked.
It will be recalled that a former chairman of the Peoples Democratic Party, Chief Olabode George, has also questioned the rationale behind the huge profits and stupendous wealth of some bank chief executive officers.
The PDP Chieftain said he is not convinced that the bank CEOs are doing normal commercial transactions.
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‘Not same Abu-Bilal Al-Minuki killed in 2024’ – DHQ clarifies identity of dead ISWAP commander
The Defence Headquarters has clarified the recent public discussions surrounding the neutralisation of a prominent terrorist commander, Abu-Bilal Al-Minuki.
A collaborative operation with the United States Africa Command on May 16, 2026, led to the killing of Bilal Al-Minuki.
Following the development, certain media outlets referenced a similar operation from 2024, which involved the elimination of a terrorist commander with the same name.
This has understandably raised questions regarding the identity of the individual who was recently neutralised.
In a statement signed by Somalia Uba, Director of Defence Information, the DHQ said: “It is crucial to note that in the North East region and throughout the Lake Chad Basin, the use of similar or identical names, aliases and nom de guerres is prevalent among ISWAP and Boko Haram terrorists.
“This practice is a deliberate part of their indoctrination strategy, aimed at obscuring identities. This fact has been corroborated over the years during counter-terrorism operations in Northeast Nigeria.
“The Abu-Bilal Al-Minuki who was eliminated on May 16, 2026, has been positively identified through human intelligence and technical surveillance as a senior global operative within the Islamic State network, possessing direct connections to international terrorist coordination, funding and operations across the Sahel. Thus, there is no ambiguity regarding his identity.”
The statement added that the strike represents a significant achievement in the country’s counter-terrorism initiatives.
It said the Armed Forces of Nigeria, in collaboration with the United States, remain dedicated to dismantling terrorist networks and will continue to disseminate verified information through official channels.
It called on the general public and the media to rely solely on authorised sources to prevent confusion arising from coincidental name similarities.
News
Aiyedatiwa’s preferred aspirants disqualified from APC Reps primaries in Ondo
Three aspirants of the All Progressives Congress, APC, who were anointed as consensus candidates by Governor Lucky Aiyedatiwa of Ondo State for House of Representatives seats have been disqualified by the party.
The three aspirants endorsed by Aiyedatiwa, who have been screened out, were identified as Tajudeen Adefisoye (Idanre/Ifedore federal constituency), Victor Ategbole (Akoko South-East/South-West federal constituency) and Samuel Arowele (Owo/Ose federal constituency).
Others not cleared along with the governor’s preferred aspirants are Seun Ajongbolo (Akoko South-East/South-West federal constituency), Morufu Ibrahim, Oyeniyi Oseni ((Akoko North-East/North-West) and Olaleye Adedipe (Akoko North-East/North-West).
With the reasons for the disqualification of the aspirants not revealed in a statement issued on Saturday by the National Publicity Secretary of the party, Felix Morka, some aspirants in the state have kicked and condemned the endorsement of the anointed aspirants.
Meanwhile, there was large turnout of APC members on Saturday during the direct primaries conducted across the 203 wards of the state.
In Akur metropolis, party members arrived at the designated wards in their numbers around 8:00 am with the officials of the party doing a headcount of everyone.
At Wards 4, 5, and 8, members of the party were seen queuing behind the poster of the aspirants they are supporting.
Meanwhile, there was an uproar in some of the wards as party faithful lamented that electoral officials were not on the ground to take record of the exercise.
News
Six suspected ISWAP bomb makers killed in premature IED explosion in Borno
Six suspected Islamic State West Africa Province members, including a bomb expert, were killed early Friday when an improvised explosive device detonated prematurely in Marte Local Government Area.
Security sources told Zagazola Makama that the blast occurred around 7:00 a.m. on May 16, 2026, at Jubilaram while the group was assembling the device. The team was led by Abu Umar, identified as a bomb expert, who died in the explosion along with five other militants. Three others were reportedly injured.
Intelligence assessments say the deceased were part of ISWAP’s IED cell operating along the Marte–Kerenoa–Wulgo axis in the Lake Chad Basin. The explosion destroyed the site, located between Arinna Maimasallaci and Arinna Ciki, and is expected to temporarily disrupt the group’s bomb-making operations in the area.
Military sources said the incident could weaken ISWAP’s capability along key routes in the Marte axis. Authorities are considering follow-up air and ground operations to exploit the disruption.
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