The central bank of any country is a uniquely influential institution. Due to its mandate of maintaining monetary and financial stability in line with the economic vision of the government, everything it does can impact everyone. That is why PhD. economists and experienced bankers are the top picks for heading the banks.

This is why appointments at the central banks are always of interest to institutions, groups, and individuals. In Nigeria of today, the Central Bank of Nigeria is an institution of utmost public interest due to the state of the economy and the ongoing economic and financial reforms of the President Bola Tinubu administration.

But sadly, in Nigeria, appointments into the CBN are not seen as part of the building block for the country’s economic rejuvenation. The CBN is seen only as a juicy institution where the elites scramble for a seat at the table and where politicians invoke Federal Character provisions of the Nigerian Constitution to put their cronies in positions to access the wealth of the nation.

Whereas, in other times, where economic engineering is taken seriously, only the most talented look forward to a career in the institution. A statement about recruitment into the Bank of England (similar to that of the US Federal Reserve) describes the bank as an “intellectually stimulating” environment that is “highly professional.”

It further states that “While organisations in the private sector are focused primarily on profits, the ultimate objectives for us are always the quality of our thinking, the rigour of our analysis and the overall deliverables in line with our vision of promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.”

Emphasising the importance of competence and professionalism for the bank, it says, “The issues we deal with on a daily basis have implications for everyone in the country.” This statement is as true for the United Kingdom as it is true for Nigeria today.

This is why the Central Bank of Nigeria under Governor Yemi Cardoso has broken with past tradition. Cardoso, like his counterpart at the US Federal Reserve, Jerome H. Powell is confronted by an economic reform that has brought financial hardship to the majority of citizens due to rising inflation.

But Cardoso’s reforms at the CBN portray a governor who takes his job seriously and is determined to deliver for the good of the country.

Aside from the monetary policy reforms of the CBN, many will welcome the thrilling news that the CBN recently recruited 16 new directors through a highly competitive process and not through arbitrary promotion. These appointments, which was more of internal promotion exercise, took effect from March 3, and it affects critical departments of the apex bank such as Monetary Policy; Trade and Exchange; Banking Supervision; Payment Systems and Consumer Protection among others.

The CBN reportedly engaged the global consultancy firm PricewaterhouseCoopers (PwC) to conduct the selection process for the directors from among top officials of the bank  who applied, following an internal advertisement, to ensure only the most competent are elevated. It is highly commendable and in line with global best practices for central banks. It is certainly the type of promotion process needed by the CBN at this time. 

Reports indicate that the PwC conducted a two-phase appointment process designed to eliminate bias in the recruitment and ensure the process is transparent. Many would wish that all critical national institutions in the country can also conduct their recruitments in this manner to ensure the right persons, no matter their ethnicity or religion, are put in charge.

Usually, for central banks, the recruitment process will include competency-based interviews, ability testing, occupational or motivational questionnaires, written assessments, case studies, and/or presentations. Anyone who scales through all these is an asset to the institution and must not be denied the chance to help the country because of their religion or where they come from as long as they’re Nigerians.

No one will be surprised by reports that staff of the bank commended the selection process as objective, transparent, and merit based. It is a far cry from past tradition where directors are arbitrarily selected because of their connections with VIPs or they’re favored by the CBN governor.

This break with tradition is widely seen in economic and financial circles as a step towards strengthening governance and operational efficiency of the apex bank. It signals a significant internal restructuring aimed at enhancing the bank’s operational efficiency and regulatory oversight. An internal memo quoted by Premium Times said the appointments were aimed at “achieving the Bank’s vision and mission for long-term success.”

A look at some of the new appointees also shows that diversity was one of the selection criteria – a point that can never be over-emphasise in a diverse country as Nigeria. While economic policy should be driven by capacity rather than regional or ethnic consideration, inclusivity is essential in a multi-ethnic and multi-religious country like Nigeria,

Mallam Abdullahi Hamisu, the newly appointed director of Banking Services, is from the north of the country. Before his appointment, he served as coordinator, banking services under the Operations Directorate. He now occupies a position that is pivotal to ensuring smooth banking operations across the nation.

Sike Rita Ijeoma, one of the appointees from the South East, is the director of the Financial Policy and Regulation Department. She was formerly the director of the Banking Supervision of CBN. Her expertise and leadership earned her the new position where she is expected to significantly push the CBN’s mission of maintaining a stable and efficient financial system in Nigeria.

Akinwunmi Olubukola Akinniyi, from the southwest, is the director, Banking Supervision Department. He was an assistant director in the Payments System Management Department of the CBN before his new appointment. He is credited with leading the team responsible for formulation of payment system policies and facilitating stakeholder consensus on payments system development strategy in Nigeria. He also participated in major reforms in the Nigerian Payments System, including the implementation of the Nigeria Central Switch, Cash-less Policy, and the Payments System Vision 2020.

Oboh Victor Ugbem, a senior development economist, is the new director, Monetary Policy Department. Victor, who is from the South-south of the country, has over 20 years experience in the areas of monetary, financial, and agricultural policies as well as private sector development.

He was formerly an assistant director in the CBN, providing technical support to the design and implementation of the Bank’s policies.

In what appears a reflection of the prominent role women now play in the board rooms of commercial banks in the country, the CBN has promoted six women to the position of directors in charge of crucial departments. They are:  Yusuf Rakiya Opeyemi – Director, Payment System Supervision: Mrs. Jide-Samuel Omoyemen Avbasowamen – Director, Information Technology: Aisha Isa-Olatinwo – Director, Consumer Protection: Mrs. Sike Rita Ijeoma – Director, Financial Policy and Regulation: Mrs. Monsurat Vincent (Strategy Management and Innovation and Dr. Adenike Olubunmi Ojumu (Medical Services).

Other directors named in the appointment are Dr. Usman Moses Okpanachi (Statistics), Mr. Farouk Mujtaba Muhammad (Reserve Management), Dr. Adetona Sikiru Adedeji, (Currency Operation and Branch Management Department), Mr. Mohammed-Jamiu Olayemi Solaja,(Other Financial Institutions Supervision Department) and Mr. Musa Nakorji  (Trade and Exchange Department).

Analysts of the CBN reforms have commended the inclusivity of the appointments despite being merit based as proof of its objectivity and transparency. It kudos to the CBN Governor for navigating the vexing challenge of federal character while searching for the brightest minds within the system.

 It is only when we put people in position where their skills and qualifications are best suited that we can get positive results. This is what the US Federal Reserve, the Bank of England, and other central banks do to be at the top of their game.

It is hoped that the processes leading to the appointments of these 16 directors would become a tradition to ensure that only bright minds are put in charge of executing the mandates of the apex bank. For the sake of Nigeria and Nigerians.

Cardoso has raised the bar and blazed the trail. He would be judged by the success or failure of his reforms and innovations. On the economic horizon, the weather is getting brighter, and there are reasons to be optimistic.

Nigeria’s economy is recovering faster than anticipated. Inflation eased to 24.5% in January, while Foreign Direct Investment (FDI) inflows are rising, and the Gross Domestic Product (GDP) is expanding.

The BusinessDay reported over the weekend that the Central Bank of Nigeria (CBN)-led Monetary Policy Committee’s decision to maintain interest rates at its last meeting has fuelled a rally in Nigeria’s Eurobond market, reinforcing foreign investors’ confidence in the domestic economy.

The paper wrote that the investment report shows that Nigeria’s Eurobond market closed the month of February in positive territory, signaling sustained foreign investor confidence. Quoting data from the Debt Management Office (DMO), it said the average yield on Nigeria’s Eurobonds closed at 8.80 per cent, 41 basis points down from 9.21 per cent at the beginning of February, signalling “strong investor appetite.”

The CBN is proving doubters of its reforms wrong. Cardoso and his team of brilliant deputy governors are doing a good job of brainstorming for the public good. They are showing that the central bank is a laboratory of ideas and not a casino for sleazy men in suit. They deserve the support of all Nigerians to rescue the country from economic abyss that years of thoughtless leadership have plunged it.

But no doubt critics would continue to analyse every action of the CBN because of what the organisation represents. So, just as several economic analysts have done, this purpose of this write-up is to urge the team not to rest on its oars.                

The Nigerian Meteorological Agency (NiMet) has said 19 states in the North Central zone, Southeast, and coastal areas are at risk of impending heat stress.

The states that would be mostly affected are Kebbi, Niger, Kwara, Oyo, Kogi, Nasarawa, Benue, Enugu, Anambra, Abia, Ebonyi, Cross River, and FCT.

Other vulnerable regions are the southwest and northern states including Taraba, Adamawa, Plateau, Kaduna, Zamfara, and Sokoto.

The NiMet alert issued yesterday shows rising temperatures and high humidity over the next three to four days, which may cause thermal discomfort across several regions.

According to the agency, the potential health risks include fatigue and irritability, reduced focus and motor skills, and lower productivity.

NiMet, however, advised residents of the affected areas to

“Stay cool by using fans, air conditioning, or shaded spaces and dress light by wearing breathable clothing.

“Drink plenty of water, avoid peak sun hours (12 PM – 3 PM). Use sun protection like hats, sunglasses, and sunscreen.”

 [Leadership]

The House of Representatives Committee on Finance has proposed major changes in the tax reform bills sent to the National Assembly by President Bola Ahmed Tinubu.

Daily Trust reports that the committee modified a number of the clauses, expunged some, retained many and introduced some new clauses in the bills.

The chairman of the House Committee on Finance, Rep James Abiodun Faleke, yesterday presented the reports on the consolidated tax reform bills to the House at the resumption of plenary.

President Bola Ahmed Tinubu had in October 2024 transmitted the four tax reform bills to the National Assembly for consideration and passage.

The presentation of the reports followed the conclusion of a three-day public hearing on the bills and the subsequent review of the memoranda presented to the committee as well as inputs made by various stakeholders during the hearing.

The reports presented to the House include that on a “Bill for an Act to Provide for the Assessment, Collection of, and Accounting for Revenue Accruing to the Federation, Federal, States and Local Governments; Prescribe the Powers and Functions of Tax Authorities, and for Related Matters (HB.1756) ” (Referred: 12/2/2025).

“A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007 and Enact the Nigeria Revenue Service (Establishment)  Bill to Establish Nigeria Revenue Service, charged with Powers of Assessment, Collection of, and Accounting for Revenue Accruable to the Government of the Federation and for Related Matters (HB.1757)” (Referred: 12/2/2025).

“A Bill for an Act to Establish Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombud, for the Harmonisation, Coordination and Settlement of Disputes arising from Revenue Administration in Nigeria and for Related Matters (HB.1758) and a “Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to Provide For Taxation of Income, Transactions and Instruments, and for Related Matters (HB.1759).”

Daily Trust reports that barring any last minute change, the House of Representatives will begin the clause-to-clause consideration of the bills on Thursday.

Drops VAT increase, modifies inheritance tax

Meanwhile, the committee has recommended a number of changes to the proposed bills and recommended to the House for clause-by-clause consideration and passage.

The changes made to the bills addressed some of the contentious clauses such as increase in VAT rate, scrapping of TETFUND, NITDA and NASENI, modification of inheritance tax; VAT derivation and distribution formula, among others.

While it was proposed in section 146 that VAT should be increased from the current 7.5% to 10% by 31st December, 2025; 12.5% from January 2026 to December 31st 2029 and to 15% from January 2030 upwards, the committee recommended that the current 7.5% VAT rate be retained.

The committee also modified the contentious clause on inheritance tax. While it was proposed that an estate left by a deceased would be taxed, it has been modified to say that whoever inherits such estate or part of it as an heir and invests it in business yielding returns will now be taxed.

TETFUND, NITDA, NASENI to remain

The Section 59 of the Nigerian Tax Bill which proposed to stop the funding of TETFUND, NITDA and NASENI by 2030 has been modified by the committee, which proposed that the funding should continue, while recommending additional agencies to benefit from the 4 % development levy fund.

The committee recommends that the fund accruing from the 4% development levies imposed on the assessable profits of all companies shall be distributed as follows — (a) Tertiary Education Trust Fund — 50%; (b) Nigerian Education Loan — 3%; (c)National Information Technology Development Fund — 5%; (d) National Agency for Science and Engineering Infrastructure — 10%;

Others include Social Security Fund – 10;  Defence Infrastructure Fund, 10%; Nigeria Police Trust Fund – 5%; National Sports Development Fund– 3%; National Board for Technological Incubation – 3% and National Cybersecurity Fund – 1%.

The committee further recommended that for the purpose of this section, every beneficiary Agency and Fund in subsection (3) shall be required to prepare and submit their income and expenditure to the National Assembly for appropriation

While Section 22 of the bill proposed that “a taxable person shall, in respect of Value Added Tax (VAT), with or without a notice and whether or not an economic activity has taken place, submit a return to the Service in the prescribed form, by the date specified in subsection of this section or in a regulation issued by the Service for that purpose, the committee recommended that a taxable person shall, in respect of Value Added Tax (VAT), with or without a notice and whether or not an economic activity has taken place, submit a return to the Service in the prescribed form, on or before the 21st day of the following month.

Attribution irrespective of location

While the Section 22 (12) proposed that “For the purpose of attribution, any return under this section shall provide details of derivation of taxable supplies by location in a manner prescribed by the Service”, the committee recommended “For the purpose of attribution, any return under this section shall provide details of consumption of taxable supplies, irrespective of where the return is filed.”

Section 7(2) of the Nigerian Tax Administration Bill proposed that “Where a relevant tax authority refuses to register or issue a Tax ID upon request under subsection (1) of this section, the relevant tax authority shall, within two working days of the decision, notify that person of the refusal. However, the committee recommended that “Where a relevant tax authority refuses to register or issue a Tax ID upon request under subsection (1) of this section, the relevant tax authority shall, within five working days of the decision, notify that person of the refusal with reasons.

On fiscalisation

Section 23 of the bill proposed that where the Service deploys an Electronic Fiscal System (EFS) any person making a taxable supply shall use the EFS for recording and reporting all supplies. It also proposed that the Service may prescribe technical specifications and security standards for using the EFS to record and report supplies. It further added that taxable persons shall be responsible for maintaining accurate records of all transactions passing through the EFS.

However, the committee recommended that, “The Service shall specify the fiscalisation system to be adopted and a transition arrangement for its implementation.”

It also recommended that (1) “Where the Service deploys an Electronic Fiscal System (EFS), any person making a taxable supply shall use the EFS for recording and reporting.”

The committee further added that “Taxable persons shall be responsible for maintaining accurate records of all transactions passing through the EFS and that the Service shall specify the fiscalisation system to be adopted and a transition arrangement for its implementation.”

Section 27 proposed that, “Every person who has an obligation to deduct and remit tax under this Act or any other tax legislation shall render monthly returns as specified in the regulation issued for that purpose.

“Every person who has an obligation to deduct and remit tax under this Act or any other tax legislation shall render monthly returns to the appropriate tax authority, as specified in the regulation issued for that purpose.

Company tax rates

Section 56 of the Nigerian Tax Bill proposed that  “Companies shall be levied, for each year of assessment in respect of total profits of every company, in the case of— (a) a small company, at zero per cent; and (b) any other company, at the rate of– (i) 27.5% in 2025 year of assessment, and (ii) 25% from 2026 year of assessment.”

However, the committee recommended that tax shall be levied, for each year of assessment in respect of total profits of every company, in the case of— (a) a small company, at zero percent; and (b) any other company, save for companies in subsection (2) of this section, at the rate of 30 per cent. It further recommended that companies operating in priority sectors as contained in the Eleventh Schedule of this Act shall be subject to income tax at the rate of 25 per cent, during the priority period.

90% of contentious areas addressed – Lawmaker

Speaking to our reporter yesterday, Rep. Bappah Aliyu Misau (PDP, Bauchi) said he had gone through the contentious issues and noticed that over 90 per cent of the concerns raised had been addressed.

He said: “I had the privilege to be at the public hearing in order to feel the pulse of the nation as regards the bills. So, what I read first when I saw the report were the contentious and controversial issues. That was the first thing I did to see how the diverse opinions and suggestions by Nigerians as groups and individuals have been considered.

“The issue of VAT increase has been addressed; the issue of TETFUND, NITDA and NASENI scrapping has been removed. The proposed VAT increase from 7.5 per cent to 10 per cent and subsequently to a higher percentage has been removed.

“Inheritance Tax was the most critical aspect in the Tax reform bills which affects all Muslims. The issue has been addressed squarely. Initially, it was proposed that the estate left by a deceased would be taxed. That aspect has been removed. What is now contained in bill is that whoever inherits the estate or part of it as an heir and invests it in business, the business or the property yielding returns to him will be taxed.

“The other issue we raised about the Southern part getting more share of the VAT has also been addressed. Now we have 30 per cent derivation rather than 60 per cent. The derivation is also not as it was before; it will be based on consumption, not based on where a company or entity is headquartered.

“So, it is 30 per cent on consumption. And again, we said, this 30 per cent because of fiscalisation. What needs to be done now is to provide the technology that can track the consumption and provide the needed data for computation.

“The other issue addressed is the composition of the board of the proposed Joint Tax Board. After the chairman, it was now agreed in the bill that persons will be appointed to the board from all the 36 states and six executive directors will be appointed with one each representing each of the political zones.

“So, the executive directors will serve as heads of operations. Before, the provision was to have only non-executive directors who almost have no power, but will act on what the chairman directs them to do. What is in the bill now is that the zones will bring one person each and the president will be the one to appoint the executive directors for a tenure of four years, renewable. So, all the grey areas have been taken care of.

“The excessive powers given in the initial bill have been toned down with the proposed appointment of one person from the 36 states as members and the appointment of the executive directors from the zones.

“So, the fear of the chairman wielding excessive powers has been allayed and addressed,” he said.

Fear in the North

Daily Trust reports that before the public hearing was held, there was a lot of push back on the bills especially from the North.

Governors and members of the National Assembly from the region had noted serious concerns on some provisions in the presidential bills.

However, after serious debates and interventions, a consensus was reached between the governors and tax reform team, a development that paved the way for public hearing at the two chambers of the national assembly.

Some legislators told the Daily Trust after the public hearing, senators and members of the House of Representatives from the North had commissioned the services of some consultants who helped in bringing out serious defence on why some provisions in the original bills must be expunged.

“We succeeded in proving our fears and gladly, Rep Faleke, who is the chairman of the finance committee agreed,” one of the sources said.

But another Rep member said they are still entertaining some fears.

“Of course, most of the issues we corrected at the House committee have been relayed to the Senate Committee on Finance led by Senator Sani Musa from Niger State. We are hopeful that during the clause by clause consideration, the issues would be taken seriously.

“We want to believe that some of our colleagues both in the Senate and the House of Representatives would not be compromised,” the source said.

Red flags

Our correspondents report that outside the National Assembly, still there are concerns that several contentious and “potentially dangerous” provisions in the Bills have not been dealt with despite the recent public hearing on the Bills.

A new research conducted by the Centre for Democratic Development Research and Training (CEDDERT) highlighted these provisions, saying key issues that directly impact citizens were neglected.

The publication, authored by Abubakar Siddique Mohammed and Aliyu Rafindadi Sanusi was the second to be released by the group of intellectuals since the debate on the tax reform bills began.

In the earlier publication released in December, the group had highlighted how some of the provisions could threaten the Nigeria’s federal system

And in the latest document released in February, CEDDERT highlighted “potentially dangerous” provisions which can be abused.

The scholars explained that the consensus emerging from the several political bargains by the elites over the bills “would have serious economic and social consequences because it has neglected the many aspects of these bills that are important for the people’s welfare.”

According to CEDDERT, President Bola Ahmed Tinubu was able to “snatch” some compromises from the governors “using all forms of subterranean means.”

For instance, Section 75(1) of the proposed Tax Administration Bill grants the President unrestricted authority to exempt any company or group of companies and any of their profits, regardless of the source, from income tax on any grounds deemed adequate.

It also pointed out that under Section 75(2), the President is empowered “to amend, add, or repeal any tax exemption by issuing an executive order.”

The group stated that “there is no democratic country in the world where a president has such powers! Not in the US, the UK or even Russia.”

According to the researchers, this section of the bill, which gives significant power to the President, if passed “will deepen centralisation of authority, increase unproductive lobbies, reduce revenue and increase corruption in ways similar to import duty waivers given in the past.”

The report also highlighted Section 60 of the NTAB which empowers the authority to seize assets of a person whose assessment is finalised and conclusive.

“They do not need further approval of the court (section 60(b)(3)) to distrain any property. They can use police with reasonable force to break and enter the property (Section 61). The authority may sell the seized property after 14 days (section 60 (b)(4)) with court approval.”

According to the report, this practice is now restricted to require court approval or abolished in many jurisdictions because of abuse.

“This section is all the more dangerous due to weak state institutions. With this provision, citizens can be targeted and crippled financially. Indeed, it is in violation of the constitution and of the law of natural justice,” the scholars stated.

According to the group, in line with the global best practice, and the provision of the Joint Revenue Board that establishes the Tax Appeal Tribunal, all tax disputes should be settled in courts.

It also queried the introduction of special purpose tax officers, saying it would only add to the retinue of law enforcement officers “who have continued to complicate law enforcement itself” as the officers were given the powers of police officers.

The publication also examined Section 63 which empowers the authority to investigate or cause an investigation to be conducted on any person, whether or not it is reported, based on suspicion arising from lifestyle (Section 60 (3)). The authority can use any law enforcement agency for the purpose (Section 63(2)).

It opined that this can be used to hound political opponents given “the dictatorial tendency of our leaders.”

“These complex and excessive powers are not only dangerous to the citizens, but also to the politicians themselves. The danger of these provisions reminds us of the attempt to use tax laws to prevent Dr. Nnamdi Azikiwe and Mallam Aminu Kano from contesting election,” it added.

Technical director of the Nigeria Football Federation, NFF, Augustine Eguavoen has debunked reports of interference in Super Eagles head coach, Eric Chelle squad selection for the upcoming fixtures against Rwanda and Zimbabwe.

Eric pruned his large provisional squad for both games to 23 on Tuesday.

Notable omissions include Ahmed Musa, Frank Onyeka, Kelechi Iheanacho and Zaidu Sanusi.

Eguavoen said that Chelle is in total control of the team and have the responsibility of picking his players.

The former defender further declared that the Malian took his time before coming up with the list.

“I want Nigerians to get clarity on something, I’ve been technical director for a few years and I have attended FIFA workshops where I ask questions a lot and they made it clear to me that a senior national team coach anywhere in the world has a final say on who he wants on his list.

“We can interact, we cannot interfere. If he says no, it’s no. That is why they can fire a senior national team coach at any time. So I will say Eric Chelle took his time to prepare this list and he has the final say,” Eguavoen told SuperSport.

The Super Eagles will open camp for the 2026 FIFA World Cup qualifier against the Amavubi of Rwanda on Sunday.

The three-time African champions will face Adel Amrouche’s side at the Amahoro Stadium, Kigali next week Friday.

They will host Zimbabwe at the Godswill Akpabio International Stadium, Uyo on Tuesday, March 25.

[DailyPost]

Mallam Nasir El-Rufai, ‘accidental’ civil servant, vocal politician and former governor of Kaduna State, has carried out his threat to defect from the All Progressives Congress (APC) to the Social Democratic Party (SDP).

The defector is not an ideologue, and his defection was not based on ideological consideration. He is rich, but his wealth cannot match the quantum of human and material resources available to his former party. He left a big party for a smaller and struggling platform with limited prospects.

His departure from the ruling party was not beyond expectation. He had complained about some policies of the party on the pages of newspapers. “APC has left me,” he declared a month ago, hinting about his next move.” Apart from arrogating an exclusive numerical voting power and strength to the North during elections, he also tried to pose as the leader of an impending northern onslaught, warning that in two years time, the North will not vote for President Bola Ahmed Tinubu for a second term.

But, other nothern leading lights from the region disagreed, saying that he only expressed a personal opinion. APC National Chairman Dr. Abdullahi Ganduje rejected El-Rufai’s allegation that the North was neglected, describing it as a figment of imagination. He said the president, through his inclusive policies, have given northerners a sense of belonging.

Having been left in the cold during the inauguration of the Federal Executive Council (FEC) by President  Tinubu, the former Federal Capital Territory (FCT) minister has not adjusted to life outside power.

As a founding member of APC, the turn of events is worrisome to some of his supporters, who are not likely to jump ship like him. El-Rufai had blamed his exclusion, more from the government, but less from the party, to the alleged plot hatched by the National Security Adviser, Mallam Nuhu Ribadu, his Fulani kinsman from Adamawa State, who arguably became more influential than him after the 2023 polls.

When it was evident that he had lost the nomination for a ministerial slot in the administration,  he was worried. His ego was deflated. He attracted public sympathy. The feeling was that after he had said that he was not interested in serving as a minister, he was persuaded to accept nomination by the party leader and he actually showed up for screening at the Senate. Many thought the Power portfolio was for him.

However, 24 days is a long time in politics. The table turned against him on the slippery political field. Sources said El-Rufai was consequently asked to nominate another person for the slot. Yet, in his diminishing camp of supporters in Kaduna and other places, the missed opportunity was a big blow and a sort of dashed hope for cronies who had wished to make an in-road into the administration.

Mixed reactions have trailed his defection to the SDP, a party that came fourth in the last presidential election. It could not be ascertained whether he discussed his move with his former leader, Gen. Muhammadu Buhari, and colleagues in the defunct Congress for Progressive Change (CPC). Analysts have pointed out that he left APC to galvanise the opposition and align interest with previous political foes who are united by the motive to work against President Tinubu in 2027.

El-Rufai has been described as a clever and controversial actor, whose political life had reflected a focus and resolve to succeed as an exponent of conditional loyalty and symbol of ethnic bullying.

To the SDP, El-Rufai is a big catch. He is a household name in political circles associated with some past political battles. But his new party is not a formidable platform, although it has two senators who borrowed it during the 2023 polls.

 SDP presidential candidate in the last general election, Adebayo Adewole, who once castigated him as a symbol of ethnic and religious bigotry in a plural country thirsty for unity in diversity, acknowledged his strengths and weaknesses. He said El-Rufai would need to work on those weaknesses.

Adewole, a lawyer and businessman, described the former governor as a competent and hardworking public servant, whose skills, experience and energy are needed for effective governance. He said the defection has met the expectation of the SDP, whose strategy is to woo popular politicians into the fold as it prepares to tackle Tinubu in the next election. To him, El-Rufai is an asset to the opposition.

Some politicians and commentators do not share these views. Sheu Sani, a human rights activist and a senator from Kaduna in the first term of El-Rufai as governor, described the defection as a good radiance to a bad rubbish. He described the venerable defector as a civilian dictator, who is guilty of his allegations against the APC.

Sani said El-Rufai has no respect for internal democracy, recalling that when he was governor, the party chairman, secretary, elected local government chairmen and most of the elected public officials were handpicked by him.

“I left APC because of him. If he returns to the APC, I will leave again,” he added.

Sani predicted that El-Rufai will become a divisive factor in his new abode because of his domineering nature.

Kaduna APC welcomed the defection with a sense of relief. Its Secretary, Yahaya Pate, said: “We are unperturbed by former governor Nasir El-Rufai’s defection to another party. Our focus in Kaduna is on how to deliver the state to both President Bola Ahmed Tinubu and Governor Uba Sani come 2027.”

A political scientist, Prof. Jideofor Adibe of Nasarawa State University, Nasarawa, said El-Rufai has achieved a motive, adding that his goal is relevance, which he believes SDP can guarantee. But he pointed out that many percieved him as a polarising force in the polity.

Critics also doubted if his defection would have much negative impact on the APC, which is waxing strong. He condemned transactional ambition. The Professor contented that instead of solo efforts, mergers are better.

To many observers, El-Rufai is a complex personality; in a breath very principled, and in another dimension politically unstable. He is an arrogant, clever and an aggressive operator, blessed with persuasive talents and organisational ability crucial for mobilisation under a virile leadership.

Eminent scholar, the late Prof. Oladipo Akinkugbe,  who sighted El-Rufai at a function in Lagos, said he suspected that the first class graduate of Quantity Surveying from Ahmadu Bello University, Zaria, was one of his troublesome students on rampange when he was ‘stoned’ as vice chancellor with pure water. He insisted that El-Rufai was at the forefront. The claim could not be ascertained. At the event, El-Rufai just smiled.

Outside school, El-Rufai has not been dumb. In public life, he has really excelled.

El-Rufai first tasted power when former military Head of State, Gen. Abdulsalami Abubakar appointed him as as an economic advisor in 1998.

His successor, President Olusegun Obasanjo later appointed El-Rufai as the inaugural director of the Bureau of Public Enterprises and Secretary of the National Council of Privatisation where he spearheaded the privatisation of  government owned corporations under the supervision of former Vice President Atiku Abubakar.

In July 2003, he was appointed the FCT Minister. He insisted on the implementation of the original masterplan. With the establishment of the Abuja Geographic Information System, the federal capital became the first municipality in Nigeria with a computerised land register and information system.

After El-Rufai’s appointment was approved by the Senate, he alleged that former Deputy Senate President Ibrahim Mantu and Senator Jonathan Zwingina asked for $414,000 bribe before his nomination as a minister was approved. Both senators denied the accusation.

The Senate Public Accounts Committee accused him of paying exorbitant salaries to staff without proper approval. El-Rufai retorted: “Silence is the best answer to a fool.” The Senate was enraged. Obasanjo apologised on his behalf. When it was rejected, he had to go to the Senate to tender a personal apology.

As FCT Minister, El-Rufai demolished 945 buildings and settlements in a bid to sanitise the territory. The residence of the Peoples Democratic Party (PDP)National Chairman, Senator Ahmadu Ali, in Asokoro, built over a water trunk line, was not spared.

At the twilight of the administration  El-Rufai presided over a ministerial/administrative panel which indicted his former boss, Atiku.

In 2008, he travelled abroad. When he came back, he enlisted in the CPC, serving as its secretary. When CPC fused with other parties to form APC, he became a legacy member. In 2015, he became governor, defeating former Governor Mukhtar Ramalan Yero of the PDP. He was reelected in 2019.

As governor, he embarked on the reforms of the civil service, reduced the number of ministries and departments, implemented free education at primary and secondary school levels, and blocked financial leakages. His decision to confuct test for teachers sparked a row between him and the teachers’ union.

El-Rufai rendered a vital service to APC and Nigeria when the committee he chaired recommended the restructuring of the polity. The report was dumped into the dustbin.

As governor, he often stormed Lagos to fire salvos at the APC National Leader, who he accused of domineering influence. He decried what he described as monopolisation of power and lack of internal democracy. Party loyalists and other Lagosians ignored the partisan incitement.

Those who decribed him as a Fulani irredentist loathed his statement in defence of tribal interest, when he warned soldiers in the line of duty to know their limitations.

“We will write this for all to read. Anyone, soldier or not that kills the Fulani takes a loan payable one day no matter how long it takes,” he tweeted.

His remarks on religion were also labelled by christian bodies as a “divisive, bigoted, hateful and completely unstatesmanlike declaration of Islamic political supremacism in Kaduna State and Nigeria.”

Around 2017, El-Rufai, accompanied by Rotimi Amaechi, former Transportation minister, held a parley with reporters at Eko Hotels, Victoria Island, to collate facts on Buhari’s popularity in the Southwest. To their surprise, they found out that the key and gate to the Southwest remained Asiwaju Tinubu. In fact, a reporter retorted: “Why are you coming to us to ask questions about the strength of Buhari in the Southwest,or whether the people of the zone will vote for him in 2019? In 2014/15, you people went to Bourdillion to see Asiwaju. Why are you coming to us instead of going to meet your National Leader?” Amaechi kicked at the comment. But, El-Rufai was jotting down the observations. During the Tinubu birthday that followed in 2018, Buhari stormed Lagos, proclaiming Tinubu as master strategist.

There was no evidence to suggest that El-Rufai was rooting for Tinubu ahead of the presidential primary. But, when certain elements in the party claimed that Buhari had anointed Senator Ahmed Lawan, El-Rufai led some governors to the former president to affirm support for zoning.

A predecessor-successor crisis broke out in Kaduna, shortly after El-Rufai left office. Today, he and his sucessor do not see eye to eye.

What difference can he now make in SDP, having left APC, his natural habitat, which he would be attacking as the polity warms up for 2027?

SDP is a small party, and it is wrong to describe the current SDP as the  incarnate of the Moshood Abiola’s SDP of the Third Republic.

The party has limited tentacles, being majorly a borrowed platform, like the Labour Party (LP), and place of temporary refuge for aggrieved chieftains from the APC and PDP. In the National Assembly and across the states, SDP is a minority of minorities.

What is El-Rufai’s future ambition? President or Vice president?

Actress Mary Njoku has raised concerns about the benefits of joining Nollywood guilds and associations, questioning their impact on members.

In a post on her Instagram story, Njoku revealed that she struggled to provide a clear answer when an up-and-coming filmmaker asked about the advantages of guild membership.

She urged the Actors Guild of Nigeria (AGN) and other Nollywood associations to clarify and present evidence of the tangible benefits they offer to their members.

She wrote: “A budding filmmaker asked me ‘what are the benefits of being part of Nollywood guilds and associations?’ and I am struggling to give a clear answer. Can someone help outline the benefits with supporting evidence?”

According to the National Film and Video Censors Board (NFVCB), there are 22 approved Nollywood guilds and associations, including the AGN and Theatre Arts and Motion Picture Practitioners Association of Nigeria (TAMPAN). 

[TheNation]

Controversy has trailed the purchase of N5BN vehicles for 40 lawmakers at the Lagos State House of Assembly, deepening the feud between Speaker Mudashiru Obasa and erstwhile Speaker Mojisola Meranda.

The PUNCH learnt that Meranda purportedly led the purchase of about 39 vehicles for the lawmakers during the period Obasa was removed as Speaker.

However, it was further gathered that Obasa had in December 2024 approved N7bn for the same purpose with plans in motion before he was ousted on January 13, 2025, by about 35 of the 40 lawmakers at the House over allegations of highhandedness, and financial misappropriation among others.

Meranda, who was then made the Speaker by the lawmakers, presided over a boiling House for 49 days until March 3 when she tendered her resignation following the intervention of the leaders of the All Progressives Congress.

Obasa was reelected as Speaker and Meranda returned to her initial position of Deputy Speaker.

However, the crisis does not seem to go away as Meranda and the Assembly still face legal battles from Obasa in the state High Court as the Speaker challenges the basis for his removal.

His contention in court is still ongoing despite the political intervention of party stakeholders who resolved the leadership crisis.

Amid the legal battle is also the contention between the duo over the purchase of the vehicles with money withdrawn from the Assembly’s account while Obasa was away.

Sources privy to the development said Obasa is contending the purchase of the vehicles without his authorisation, as the Speaker had his plan of purchasing the vehicles from Dubai from his bidder of interest.

“He had approved the money before his removal. But Meranda proceeded with buying them, a move that infuriated Obasa,” an aide to Obasa, who asked not to be named for not being authorised to comment yet, said on Tuesday.

“In December, Obasa approved the purchase of those vehicles. But for him, the vehicles were to be bought from Dubai but when Meranda took over, she made it an open bidding. They weren’t bought in Dubai anymore. That is just the difference. So it’s not as if they stole money as it’s been propagated,” another source in the Assembly told The PUNCH on condition of anonymity on Tuesday.

“The purchase or execution was only done (under Meranda). Obasa already approved it. There is a difference between between approval and execution,” the source added.

When contacted on Tuesday, Meranda’s spokesperson, Victor Ganzallo, said an official statement would be issued.

“We will put out an official statement,” he said.

The PUNCH is yet to obtain the statement as of press time.

However, a source close to Meranda who noted that he had not got official authorisation to speak, stated that the first female Speaker only saved N2bn by purchasing 32 units of 2025 Toyota Prado SUV and seven units of Toyota Landcruiser 2025 at the sum of N5b, rather than the N7bn budgeted by Obasa.

“Let it be known that Rt. Hon. Mojisola Meranda never made any withdrawal from the account of LAHA; rather, she only made a downward review of an existing procurement approval by Rt. Hon. Mudashiru Obasa. In doing that, she saved the assembly the sum of N2 billion,” he stated.

He said Obasa had done an approval for the purchase of 35 units of Toyota Fortuner SUV and 10 units of Toyota Prado from Dubai at N7bn.

“As a matter of fact, he made the approval on December 23, 2024. Upon his removal, Rt.Hon. Mojisola Meranda reviewed the approval and called for a bidding locally and approved the sum of N5b for 32 units of 2025 Toyota Prado SUV and seven units of Toyota Landcruiser 2025 at the sum of N5b, saving N2b for the House.

“Unlike Obasa who had planned to import the vehicles from Dubai, all the cars were locally supplied. It is imperative to note that no money was withdrawn by Rt.Hon. Meranda, she only reviewed an existing approval.

“Interestingly, Hon. Meranda spent far less money to acquire better quality cars and didn’t even approve a single one for the office of the Speaker that she occupied,” he added.

Meanwhile, Obasa’s lawyer, Chief Fashanu Afolabi (SAN), has spoken on why Obasa is still in a legal battle against Meranda and the Assembly despite his client’s reelection as Speaker.

He said the allegations Obasa by the lawmakers were heavy and needed to be trashed.

“Because there are some issues that are still pending within the context of notice of allegation. The case of allegation contains reasons for the impeachment which include highhandedness, fraudulent malpractices and the rest and we feel that those issues must be trashed out,” he told The PUNCH in a telephone interview on Tuesday.

Justice Yetunde Pinheiro of the Lagos State High Court in Ikeja had on Monday adjourned the hearing of a suit filed by Obasa to March 17, 2025.

The court had previously scheduled the hearing for March 10, 2025, but at Monday’s proceedings, counsel for the House of Assembly, Femi Falana (SAN), informed the court that Obasa’s legal team, led by Afolabi Fashanu (SAN), had served further affidavits on the same day.

[Punch]