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CBN leads financial dialogue with JP Morgan, NGX, others, in pre-spring meetings Forum

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By Dr. Ibrahim Modibbo

In anticipation of the International Monetary Fund (IMF) and World Bank Group (WBG) Spring meetings which commenced on Monday, April 21, 2025, the Central Bank of Nigeria (CBN) partnered with J.P. Morgan, the Nigerian Exchange Group (NGX) and Africa Private Capital Association (AVCA) to host a high-profile global forum at Nasdaq MarketSite in New York on Thursday, April 17, 2025, according to press statement by Dr Ibrahim Moddibo.

The forum, titled “The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships,” convened global investors, diaspora leaders, and senior financial stakeholders to examine Nigeria’s macroeconomic prospects and ongoing reform progress.During his commanding address, Governor Olayemi Cardoso outlined his comprehensive reform strategy encompassing monetary tightening, foreign exchange market transparency, and enhanced financial governance.

He emphasized that these initiatives are establishing the foundation for sustainable macroeconomic stability and heralding a new era of transparency and confidence.Governor Cardoso reaffirmed the CBN’s unwavering commitment to rebuilding credibility through orthodox monetary policy, transparency, and consistency.

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“We inherited a crisis of confidence but chose a different path. We’re not turning back,” he stated decisively.In a powerful fireside chat between the Governor and Nobel Prize-winning economist Dr. James Robinson, Reverend Richard L. Pearson Professor at the University of Chicago, Governor Cardoso elaborated on his vision to reestablish the CBN as a credible, trusted institution – rooted in domestic excellence and respected internationally.Mr. Muhammad Sani Abdullahi, Deputy Governor for Economic Policy at the CBN, delivered a macroeconomic update highlighting sharp increases in foreign exchange turnover, emerging signs of disinflation, and strengthening external reserves. “With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is gradually being restored in Nigeria’s economy,” he noted.

Welcoming participants to the forum, Dr. Nkiru Balonwu, Adviser to the CBN Governor on Stakeholder Engagement and Strategic Communication, framed the forum as a key moment in the Bank’s broader engagement strategy. “Today is more than a conversation,” she noted.

It’s about opening the books on the CBN’s transformation story under Governor Cardoso – sharing the facts, interrogating the progress, and looking ahead together at what more can be done to build sustainable partnerships and unlock long-term capital,” she explained.

Another key highlight of the event was the panel discussion entitled “Repricing Nigeria: Assessing the Scope for Sustained Change.” Moderated by Gavin Serkin, Founder of New Markets Media & Intelligence, the panel featured global financial luminaries: Joyce Chang, Chair of Global Research at JPMorgan Chase; Jason Rekate, Global Co-Head of Corporate Banking at Citi; Razia Khan, Chief Economist for Africa & Middle East at Standard Chartered; and Ahmad Zuaiter, Co-Founder & CIO of Jadara Capital Partners. Each panelist provided expert perspectives on Nigeria’s investment landscape, noting renewed international interest driven by improved fundamentals, strengthened governance, and clearer policy direction.

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The CBN Board and Monetary Policy Committee were represented by US-based diaspora members Mr. Robert Agbede, Prof. Melvin Ayogu, and Dr. Aloysius Ordu, underscoring the Bank’s global engagement and commitment to leveraging Nigerian talent worldwide. Temi Popoola, Group CEO of NGX, moderated the Q&A session, while Dr. Olubukola Akinniyi Akinwunmi, Director of Banking Supervision at CBN, delivered the closing remarks.The forum focused on substantive discussions and future prospects: engaging critical voices, evaluating progress, and identifying requirements for building lasting partnerships and attracting long-term capital. Central to this endeavor is a clear objective: reestablishing the CBN as a credible, trusted institution respected globally and dedicated to excellence at home.

Dr. Ibrahim Modibbo, a public affairs analyst writes from Abuja.

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Bandits dislocate over 100 communities, residents forced into ‘peace deals’

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More than 100 communities in Southern Kaduna have reportedly been deserted by residents following repeated attacks by armed groups, with some affected settlements allegedly resorting to negotiations with the assailants to survive.

The affected communities are spread across parts of Kachia, Kajuru, Kagarko, Chikun and Birnin Gwari local government areas of Kaduna State, according to findings by Saturday PUNCH.

The National President of the Southern Kaduna Peoples’ Union, Tabara Kato, said over 100 communities had been displaced, while the former spokesman of the group, Luka Binniyat, claimed that the figure was as high as 245.

Kato also said about 35,402 people had been displaced across the state, adding that many of the affected residents were now living in Internally Displaced Persons camps under difficult conditions.

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The latest major attack cited by the community leaders occurred on July 26 in Naridon, Kamaru Ward, Kauru Local Government Area, where at least 30 residents, including eight children, were reportedly killed during an attack that lasted about three hours.

Kato attributed the persistent attacks largely to alleged land grabbing and the quest for control of natural resources, claiming that some communities had been taken over after their residents were forced to flee.

He said, “So far, more than 100 communities have been displaced. Some of the victims are now living in IDP camps. They are living from hand to mouth and at the mercy of the weather, and human and natural hazards.”

Kato called on the Federal Government and security agencies to investigate the alleged financiers of the attacks, arguing that arresting perpetrators without identifying their sponsors would not bring lasting peace.

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Binniyat, who is also the spokesman of the Middle Belt Forum, gave a higher estimate, alleging that about 245 communities had been sacked across Southern Kaduna as of June 2026.

He said the prolonged displacement had created what he described as “a dangerous security vacuum,” which he alleged was being exploited by kidnappers and armed groups.

According to Binniyat, communities in Kachia, Kajuru, Kagarko and Chikun, as well as some Gbagyi settlements in Birnin Gwari, were among those most affected.

He urged the Federal Government to undertake a coordinated security operation to reclaim occupied communities, dismantle armed camps and create conditions for displaced residents to return safely.

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Meanwhile, residents told Saturday PUNCH that insecurity had forced some communities in Kachia to enter into informal agreements with armed groups in an attempt to reduce attacks.

The residents alleged that the arrangements had, in some cases, evolved into systems of control, with demands reportedly including money, restrictions on movement, compulsory farm work and other forms of coercion.

A resident of Mai-Ido Kufai, Jessy Francis, said some community leaders entered into negotiations with the armed groups because they hoped it would enable residents to return home and live without fear.

“We believed that if we reached an understanding with them, we would be able to return to our homes and continue our lives peacefully,” Francis said.

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He, however, alleged that the arrangement failed to provide lasting peace, claiming that residents in some areas continued to face violence and other forms of intimidation.

Another displaced resident, Danjuma Sunday, said he fled Mai-Goro in 2021 after surviving repeated attacks. He said he now lives in Kachia with his family but occasionally returns to his farm despite the security risks.

Sunday alleged that security personnel sometimes visited affected communities, but the armed groups reportedly returned after the troops withdrew.

However, the Village Head of Ariko, Jashua Doka, said his community had rejected pressure to negotiate with the armed groups.

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“People kept telling us to negotiate with them, but I refused. If I negotiate with criminals and God calls me tomorrow, what explanation will I give? I fear God,” Doka said.

The state Commissioner for Internal Security and Home Affairs, Dr Suleiman Shuaibu, said he was unaware of the alleged arrangements when contacted.

“I am just hearing this from you. Can you allow me some time to verify the claims and get back to you?” he said.

Efforts to obtain the reaction of the Kaduna State Police Command were unsuccessful, as its spokesman, Mansir Hassan, did not respond to calls or a text message sent to him before the report was filed.

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Binniyat urged the Federal and Kaduna State governments to prioritise the reconstruction of affected communities and the rehabilitation of displaced residents, warning that continued occupation of the areas could further worsen insecurity in the region.

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‘My wife drove me with knife, vowed to stab me’, husband says as 15-year marriage crumbles

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A 15-year marriage between a Lusaka couple has ended in divorce after the husband accused his wife of violent behaviour, alcohol abuse, substance use and infidelity before a Local Court.

Edward Kumwenda, who petitioned for the dissolution of his marriage to 40-year-old Florence Wazi of Garden House, told the court that the relationship had broken down beyond repair.

Kumwenda alleged that he only discovered after their marriage that his wife drank heavily and sniffed snuff tobacco. ChoosingStargazing Telescopes

He further claimed that Florence became violent whenever they disagreed, alleging that she had on several occasions pursued him with a knife and threatened to stab him.

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The husband told Magistrate Moses Lubuwa that he had previously sought a divorce but withdrew the case after his wife appealed to him to give their marriage another chance.

However, Florence rejected her husband’s allegations and blamed the marital crisis on his conduct.

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She told the court that she discovered that Kumwenda had fathered four children with four different women, which she said contributed to the breakdown of their relationship.

The woman also accused her husband of disrespecting her parents and alleged that he once threatened to burn her with a pot of hot spaghetti.

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After listening to both parties, the magistrate dissolved the marriage without granting compensation to either side.

The court awarded Florence custody of the couple’s three children and granted Kumwenda unrestricted access to them.

Kumwenda was also ordered to pay K1,500 monthly towards the children’s upkeep, beginning from the end of August, with the amount to be reviewed annually.

The court further directed the former couple to divide equally the household property acquired during their 15-year marriage.

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Governor Uzodimma Boasts, says Over 30 APC Govs Will Deliver States For Tinubu

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The Chairman of the Progressive Governors’ Forum (PGF) and Governor of Imo State, Hope Uzodimma, has boasted that all governors elected on the platform of the All Progressives Congress (APC) are united in their commitment to ensure President Bola Tinubu wins re-election.

Speaking during a media briefing with journalists following a high-level party meeting, a video clip of the address seen by SaharaReporters, Uzodimma revealed that state executives are expected to deliver their respective states to guarantee the party’s electoral success.

According to the Imo governor, the ruling party’s leadership and state executives are aligned on both national governance priorities and political strategies ahead of the 2027 general elections.

Uzodimma emphasized that the administration’s primary focus remains mitigating economic hardship and ensuring that federal reforms yield tangible benefits for everyday citizens across the country.

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“The immediate priority is to reduce the cost of living in Nigeria, ease the cost of transportation, bolster food security through agriculture, bring prosperity to the people, and ensure that the dividends of the various reforms implemented over the years trickle down to the grassroots,” Uzodimma stated.

Addressing political developments within the ruling party, the PGF chairman confirmed that President Tinubu officially briefed the governors on the inauguration of the APC Presidential Campaign Council.

Uzodimma affirmed that the state chief executives expressed total agreement with the President’s roadmap and pledged unalloyed loyalty to his re-election bid.

“Second to governance is the politics — the upcoming election and the constitution of the presidential campaign council, which Mr. President officially informed us about, and we are in total agreement,” he said.

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He added, “What we have agreed with Mr. President is that he will be delivered. All APC governors are solidly behind Mr. President. To that extent, governors are expected to deliver their states. Every single one of us is in total agreement, and we are united in supporting Mr. President’s re-election and ensuring the success of the poll.”

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