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SEE Full List Of CBN Directors Just Sacked

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By Kayode Sanni-Arewa

A significant number of directors who survived the ongoing restructuring at the Central Bank of Nigeria (CBN) have been dismissed.

The incumbent Governor of the CBN, Yemi Cardoso, has implemented substantial reforms, including downsizing the workforce, since assuming leadership of the apex bank.

Previously, it was reported that certain senior staff members who served during Godwin Emefiele’s tenure were spared during the initial wave of layoffs that began in March.

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However, these individuals have now also been let go.

Reports indicate that close to 600 employees are affected, and virtually all staff members in the Governor’s Directorate have been terminated.

In the latest shakesup at the CBN, around 200 individuals have already had their engagement letters signed and will receive them in the upcoming days.

Below is a list of affected directors in the latest shakeup at the CBN quarters.

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1. Clement Oluranti Buari, Director, Strategy Management

2. Dr Blaise Ijebor, Director, Risk Management

3. Lydia Ifeanyichukwu Alfa, Director, Internal Audit

4. Jimoh Musa Itopa, Director, Capacity Development

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5. Muhammad Abba, Director, Human Resources

6. Rabiu Musa, Director, Finance

7. Dr Mahmud Hassan, Director, Trade & Exchange

8. Dr Ozoemena S. Nnaji, Director, Statistics

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9. Dr Omolara Duke, Director, Financial Markets

10. Chibuike D. Nwaegerue, Director, Other Financial Institutions Supervision

11. Chibuzo A. Efobi, Director, Payments System Management

12. Haruna Bala Mustafa, Director, Financial Policy and Regulation

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13. Rakiya Shuaibu Mohammed, Director, Information Technology

14. Benjamin Nnadi, Director, Reserve Management

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Tinubu to meet Gencos over N4tn electricity debt

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By Francesca Hangeior

President Bola Tinubu is expected to meet with the leadership of Nigeria’s power-generating companies as part of an emergency effort to address the N4tn debt threatening to cripple the country’s electricity supply chain.

The move follows a high-level meeting on Tuesday between the Minister of Power, Adebayo Adelabu, and chairmen of Gencos in Abuja, amid mounting fears of a possible collapse of the national grid due to liquidity constraints in the sector, according to a statement from the power ministry on Sunday.

The government pledged immediate action to reduce the N4tn debt owed to power generation companies.

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Earlier, Gencos had issued a warning to the Federal Government over the continued accumulation of debts now totaling over N4tn.

The companies said they were currently owed N2tn for power supplied in 2024 and N1.9tn in legacy debts.

The statement by the minister’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, stated that the Federal Government had resolved to settle a substantial portion of the debt immediately, while the remainder would be cleared through financial instruments such as promissory notes within the next six months.

He said this would be proposed in a meeting being planned between President Bola Tinubu and the Gencos’ leadership.

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“There is a need to pay a substantial amount of the debt in cash. At the minimum, let us pay a substantial amount, then ask for debt instruments in promissory notes to pay the rest,” Adelabu said.

He emphasised the Federal Government’s determination to prevent a collapse of the power sector, describing the situation as a national emergency.

“We recognise the urgency of this matter. The government is committed to resolving this debt to stabilise the sector and prevent further crisis,” he said.

When questioned on a likely date for the meeting, the media aide said, “I can’t say yet,” explaining that discussions were still ongoing among relevant parties.

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The Gencos were led by the Chairman of Mainstream Energy Solutions and head of the Association of Power Generating Companies, Col. Sani Bello (retd), who warned that the sector faced a looming collapse due to the mounting debt and persistent liquidity challenges.

Bello noted that the debt burden had crippled operations and limited access to funding for maintenance and infrastructure upgrades. “Without urgent intervention, the entire power ecosystem could collapse,” he said.

Echoing his concerns, the Chairman of Egbin Power and First Independent Power Limited, Kola Adesina, said, “This is a national emergency. Everything hinges on power—industries, homes, hospitals. We cannot afford to let the sector fail.”

Adelabu acknowledged the role of systemic failures and policy inconsistencies in the sector’s woes, adding that the government was not only focused on debt repayment but also committed to pushing reforms that would ease operational challenges.

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He advocated for a full liberalisation of the electricity market and called on Nigerians to embrace cost-reflective tariffs, stressing that subsidies were no longer sustainable in the long term. “Citizens must pay the appropriate price for the energy consumed. The Federal Government will continue to provide targeted subsidy for economically disadvantaged Nigerians,” he stated.

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2027: I’ll still vote Peter Obi, says Farotimi

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By Francesca Hangeior

Human rights lawyer Dele Farotimi has reaffirmed his support for Peter Obi, stating that he will back the former Anambra State governor if he runs in the 2027 presidential election.

Farotimi, who made this known during an appearance on Channels Television’s Sunday Politics, stated that talks about the 2027 elections at this time are distracting.

He said, “If elections where our votes will count will hold today, I will vote for Peter Gregory Obi, unless somebody else comes into the race that I think can do better. If it’s still the same lineup as the last time, it’s definitely Peter Obi I’m voting for.

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“I hope he will be a little bolder with his policy platforms, but frankly speaking, in terms of capacity and integrity, there’s nobody I will be supporting.

“Something drastic has to happen for me to decide I’m not supporting Peter Obi. He might be that he teamed up with some objectionable persons that I cannot stomach, and that’s a real possibility. However, outside of that, there’s nobody else.

“I actually think our discussions of elections today are a disservice to ourselves because we really cannot speak in terms of an election in our current circumstances.”

Farotimi, who served as spokesperson for the Labour Party Presidential Campaign Council and a staunch supporter of Peter Obi during the 2023 presidential election, said his continued support stems from a desire to see a better Nigeria.

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Police order investigation into death of five children in Nasarawa

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By Francesca Hangeior

The Commissioner of Police in Nasarawa, Shetima Jauro-Mohammed, has ordered an investigation into the death of five children in the Agyaragu community of Obi Local Government Area (LGA) of the state.

This is contained in a statement signed by SP Ramhan Nansel, the Police Public Relations Officer (PPRO), on Monday in Lafia.

The PPRO said that the lifeless bodies of the children were found inside an abandoned, unserviceable vehicle parked at the residence of one Mr Abu Agyeme.

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The commissioner has ordered a thorough investigation to determine the circumstances surrounding the incident.

”He expressed deep sorrow over the loss and extended the command’s heartfelt condolences to the bereaved families.

”He also cautioned parents, guardians, and vehicle owners to be vigilant and ensure that children do not gain access to parked or abandoned vehicles without supervision,” he said.

On Sunday, at about 5:30 pm, he said a resident of the area reported to the police that the children were discovered unresponsive inside a disused vehicle parked in a compound.

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He said that Mr Ozimna Ogbor, who reported the matter, said the children were aged between six and 10 years.

“Upon arrival, the officers found the victims locked inside the abandoned vehicle.

“They were promptly evacuated to Aro Hospital, Agyaragu, where a medical doctor regrettably confirmed all of them dead due to suspected suffocation.

“This heartbreaking incident is a painful reminder of a similar tragedy that occurred in August 2019,” Nansel added.

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“Due to severe heat burns on the deceased bodies, the remains were released to their parents based on a request for burial,” he said.

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