FEATURES

FEATURES

Senator Natasha Akpoti-Uduaghan, representing Kogi Central, has called on Mrs. Unoma Akpabio, wife of Senate President Godswill Akpabio, to refrain from involving herself in the ongoing sexual harassment and intimidation allegations against her husband.

The dispute between the two parties has escalated in recent days, drawing national attention.

The conflict began when Senator Akpoti-Uduaghan refused to sit in a designated seat during a Senate session, citing Order 10 of the Senate Standing Rules.

Tensions heightened after she appeared on Arise News last Friday, accusing Senate President Akpabio of blocking her motions, maligning her character, and intimidating her following her alleged rejection of his sexual advances.

In response, Mrs. Akpabio held a press conference in Abuja, dismissing the allegations as baseless. She emphasized the long-standing cordial relationship between their families, which predated Senator Akpoti-Uduaghan’s marriage.

However, in a letter dated March 1, 2025, addressed to Mrs. Akpabio through her lawyer, Victor Giwa, Senator Akpoti-Uduaghan urged her to stay out of the matter.

The letter, titled ‘Stay Away from Sen. Natasha Akpoti-Uduaghan’s Sexual Harassment and Intimidation Allegation Against Sen. President Godswill Akpabio; To Safeguard Your Sanity and That of Your Family,’ stressed that the allegations were personal to the Senate President and that he should be left to defend himself.

Akpoti-Uduaghan stated that she had endured harassment from Akpabio but was now compelled to speak out.

The letter read in part, “Our Client is not desirous of calling you out into the unfortunate saga concerning her allegations against the Senate President, and wishes that you restrain yourself from delving into the obscene circumstances. While she has tolerated all the harassment from the Senate President, she was constrained to reveal the unfortunate torture and victimization which she has been going through in the red chambers under the hand of the Senate President.”

The Senator further asserted that she had concrete evidence to substantiate her claims and urged Mrs. Akpabio to allow her husband to address the allegations independently.

“Our client has concrete evidence to substantiate her allegations. We will suggest that you leave the defense of the allegations for the Senate President to maintain your sanity and that of your family,” the letter added.

Akpoti-Uduaghan reaffirmed her commitment to defending Nigerian women and upholding family values,

“Our client remains resolute in the defense of Nigerian women and as a family woman, she will continue to maintain our common heritage and family values,” she stated.

[Vanguard]

Bukola Saraki, former senate president, has called for a transparent investigation into allegations at the heart of the clash between Godswill Akpabio and Natasha Akpoti-Uduaghan. 

The fray between Akpabio, the senate president, and Akpoti-Uduaghan, senator representing Kogi central, started over a recent seat re-arrangement in the red chamber.

Akpoti-Uduaghan fought fiercely against her new seat position following the re-arrangement, alleging that the move was an attempt to silence her.

The clash reached a crescendo on Friday after Akpoti-Uduaghan accused the senate president of making sexual advances towards her in his office and residence in Akwa Ibom.

 

“Mine is the case of a student being punished by a lecturer for refusing to sleep with him,” she said.

The allegation spurred reactions from notable Nigerians, including a lawsuit against Akpoti-Uduaghan by Ekaette Akpabio, the senate president’s wife.
 
Others have called for an investigation into the claims made by the Kogi senator.
 
Adding his voice to the debate, Saraki, in a post on social media, said the senate committee on ethics, privileges, and public petitions must probe the allegation tabled by Akpoti-Uduaghan.
 
He added that “both parties must submit to the investigation, fully cooperate with the committee, and stake their claims before it”.
 
‘This is not the first time a Senate President would appear before the Committee to aid it in the conduct of a transparent and open investigation,” the post reads.
 
“I remember during the 8th Senate when a Senator claimed that I imported an official car for my use as Senate President and that customs duty was not paid on the vehicle. Since I knew the claim was false, the matter was referred to the Ethics Committee and I appeared before the committee to testify, in the full glare of the media.
 
“From my testimony, it was clear the Senator who made the allegation got his facts wrong and was only being mischievous.
 
“Also, on the day the committee submitted its report for debate on the floor, I stepped down and allowed my deputy to preside. The transparent manner in which the investigation and the debate on the report were handled assured everybody that there was no case. This is a precedent that the leadership of the 10th Senate should follow.”
 
“The due process should be followed in this case, such that where anybody is found to have committed any wrong, the wrong should be pointed out and corrected. Also, the right remedy should be made.”
[TheCable]

Despite Bitcoin's current market slump, some industry leaders express optimism that the world's top cryptocurrency might rebound and eventually hit $2 million in a short timespan, driven by institutional adoption, regulatory shifts, and inflationary pressures.

"Bitcoin’s trajectory has consistently defied expectations, and while a $2 million price by 2030 is an aggressive target, it’s not outside the realm of possibility," Dr. Arman Meguerian, CEO of Bitcoin investment platform Timestamp, told TheStreet Crypto.

Proponents argue that increasing regulatory clarity in the U.S. and Bitcoin’s role as a global store of value make the price jump increasingly likely.

Jagdeep Sidhu, president of the Syscoin Foundation, envisions Bitcoin becoming the backbone of global finance: “It would absorb trillions in value as weaker assets disappear,” Sidhu tells TheStreet Crypto.

The Institutional Bet on Bitcoin

"Bitcoin’s potential path to $2 million by 2030 is fueled by positive regulatory changes, institutional adoption, and its track record as one of the best-performing assets of the past decade," CoinFlip CEO Ben Weiss tells TheStreet Crypto. "With spot ETFs [exchange-traded funds] unlocking new capital and governments shifting toward regulation over restriction, Bitcoin is on the way to becoming a mainstream investment."

Major financial institutions have steadily widened their exposure to Bitcoin in the past year. The approval of spot Bitcoin ETFs last year has also mobilized new capital into the market, with firms like BlackRock and Fidelity leading the way.

"As inflation erodes the dollar’s value over time, price levels that seem unfathomable today may one day be inevitable," says Justin Barlow, Head of Business Development and Investments at Sei Foundation.

If Bitcoin captures even a fraction of gold's market cap, seven-figure prices are a strong possibility in the future, some industry observers say.

"Bitcoin, as digital gold, could potentially reach gold’s market capitalization within the next decade,” Youwei Yang, Chief Economist at BIT Mining, tells TheStreet Crypto. “With gold valued at approximately $20 trillion and Bitcoin currently around $2 trillion, this suggests a possible 10x increase in Bitcoin’s value, bringing it to around $1 million per coin.”

“Bitcoin at its core is all about scarcity,” Chris Kline, co-founder of BitcoinIRA, tells TheStreet Crypto. “Only 21 million [Bitcoin] will ever exist, and 19.5 million are already accounted for. Given its extreme relative scarcity against fiat money and the challenges ahead for nation-states struggling with monetary expansion, a $2 million Bitcoin isn't outlandish.”

However, Kline says the path will be "neither smooth nor direct."

“With each new price level tested, there will be significant volatility as market participants take profits, new entrants establish positions, and institutional capital adjusts its exposure,” Kline says.

"Bitcoin could hit $2 million if it disrupts the U.S. dollar’s petrodollar dominance, driven by its fixed supply and growing institutional interest,” Alan Orwick, co-founder of Quai Network, tells TheStreet Crypto.

“While Bitcoin faces hurdles, especially with the U.S. dollar being so dominant, stablecoins might help Bitcoin eventually take off, and a $1 million Bitcoin price by 2035 isn’t out of the question,” Orwick adds.

Skepticism persists

However, others caution that Bitcoin's potential to reach $2 million is "extremely low," citing factors such as market volatility and structural economic constraints: "Trillion-dollar, volatile, risk-on assets simply do not experience hyper-growth," Ryze Labs founder Matthew Graham tells TheStreet Crypto.

"Even with sovereign wealth funds and corporate treasuries investing, and rampant hyper-inflation in major economies, this target remains highly improbable — and such inflation would also render the nominal price meaningless."

 [TheStreet]

The U.S. Securities and Exchange Commission has been busy over the past few weeks, hinting at a brighter future for crypto companies.

PS: I'll be in San Francisco next week for the American Banker Payment Forum. Say hello.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

New era

The narrative

The crypto industry racked up a number of early wins in the first month (and week) of Donald Trump's second term as U.S. president. The U.S. Securities and Exchange Commission announced it would drop or close half a dozen open investigations and ongoing cases, and asked courts to pause two more.

Why it matters

The crypto industry clearly won big during the 2024 election, and it's only just beginning to see what that means. Questions of how it actually should or shouldn't be regulated are now up in the air.

Breaking it down

Over the last week and change, the SEC filed to withdraw its case against crypto exchange Coinbase, pause its cases against Binance and Tron and informed ConsenSys, OpenSea, Robinhood, Uniswap and Gemini it would close its cases or investigations into those platforms.

These announcements come on the heels of SEC Commissioner Hester Peirce announcing she would head up a new crypto task force at the regulatory agency and publishing a number of open questions to the general public about how securities law might apply to different types of cryptocurrencies and defining how the SEC would oversee this industry. The SEC also withdrew staff accounting bulletin 121, an accounting standard much of the industry hated.

While there are a number of investigations or cases still outstanding, it's clear the SEC has taken a sharply diverging tack under Acting Chair Mark Uyeda from when former Chair Gary Gensler helmed the agency.

Commissioner Hester Peirce said the SEC was now working to develop more policy that would guide the Division of Enforcement's future actions, rather than have these enforcement actions "write regulatory policy."

"We're really trying to get back to using our enforcement division for its intended purpose, and letting the regulatory divisions do the hard work of figuring out how to craft rules, guidance [and] interpretations," she told CoinDesk in an interview. "And then enforcement has a role after that, of course, to enforce the rules that are on the books. But this has just been an area where we've kind of gone about it backwards, and we're trying to right the ship here."

The industry has been taking a victory lap with the withdrawals and dropped cases (and to be clear, it's not just the SEC withdrawing enforcement actions and investigations).

Amanda Tuminelli, the chief legal officer at DeFi Education Fund, a decentralized finance-focused lobbying group, said any groups in the crypto sector should be more confident they would not be sued "for a mere registration violation."

"I don't think that we've won. I won't think that we have won until there are clear final rules on the books that make it clear, that are durable wins that make it clear that the industry is going to be able to innovate and exist for years in the future," she said in an interview.

On the other side of this argument, the SEC — and Congress — are "actively welcoming" chaos from the crypto sector to the broader financial system, said Corey Frayer, the director of Investor Protection for the Consumer Federation of America and a former SEC senior adviser to Gensler.

"The SEC is not just abandoning enforcement actions, it's actively building an unregulated market for crypto assets," he said in an interview.

This could create risk for contagion, he said, referencing FTX and Silicon Valley Bank's collapses. FTX had an issue with leverage (and the various FTX-affiliated tokens, which were used as collateral but lost their value following the exchange's collapse).

"As we’ve learned from prior financial crises, ramping up leverage risks that any single bad bet or any significant move in the value of one asset or intermediary will crash the entire crypto sector," Frayer said.

Congress's efforts may take some time. Earlier this week, lawmakers with the Senate Banking Committee's new digital assets subcommittee convened its first hearing focused on future legislation.

Lewis Cohen, an attorney who's long been active in the crypto sector and a witness at the hearing, said developers had "raced ahead of the legal and policy frameworks designed decades ago."

"Perhaps most critically, this uncertain regulatory environment has left consumers and users of digital assets at risk," he said. "A clear, practical and flexible federal statutory regime is urgently needed to address activity involving digital assets in both the primary and the secondary markets."

Former Commodity Futures Trading Commission Chair Timothy Massad suggested Congress should focus on stablecoins and hold off on any kind of market structure legislation, at least until his former agency and the SEC have had a chance to work on rulemakings and guidance first.

Tuminelli said she was worried that some builders might take these recent signs to mean "it's just open season," even though she expects law enforcement agencies to continue cracking down on outright criminal activity. Other recent incidents, like Bybit's $1.5 billion hack, are also poor signs for the industry.

"We have things like Bybit to worry about, and we do have to worry about national security concerns and things like that," she said. "So there are still going to be compliance issues that people need to pay attention to, even as there is a much greater runway in front of us."

[CoinDesk]

Crypto bettors on Polymarket, the world’s largest prediction market platform, have wagered over $400,000 on the prediction that Ukrainian President Volodymyr Zelenskyy will leave office before July.

At the time of writing, Polymarket bettors forecast there was a 26% chance of Zelenskyy’s early departure.

On Friday, Zelenskyy visited the White House for talks with President Donald Trump and Vice President JD Vance about the ongoing war in Ukraine. However, the meeting ended without an agreement, as Trump accused Zelenskyy of being an uncooperative ally showing little gratitude to the United States.

“You see the hatred he’s got for Putin,” Trump said. “That’s very tough for me to make a deal with that kind of hate.”

Meanwhile, more than $21 million in crypto wagers have been spent on the question of whether Trump will end the war in Ukraine during his first three months in office.

According to crypto bettors on the Polymarket platform, the likelihood stands at a paltry 23%. Following Friday’s meetings at the Oval Office, one Polymarket user wrote: “[Zelenskyy] should've thanked the American people, how hard can it be to show some gratitude?”

Previously, the platform hosted similar bets on former President Joe Biden dropping out of the 2024 presidential contest. While the crypto prediction platform has faced criticism, it accurately predicted Biden’s unexpected exit.

“Prediction markets give people a financial motivation for conducting thorough research and making rational analysis before placing their bets, and they provide a much higher level of accuracy versus traditional polling because of this financial motivation,” said Brian Trunzo, the former Vice President and Global Head of Business Development at Polygon Labs.

Without the promise of additional U.S. military support, Ukraine is currently mulling levying a crypto tax of up to 10% to help prop up Ukraine’s economy amid the ongoing war with Russia.

[TheStreet]

President Donald Trump will preside over the White House’s first cryptocurrency summit next Friday, further establishing his embrace of the industry.

 

Trump will deliver remarks at the gathering that “will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the president’s Working Group on Digital Assets,” the White House said in a statement on Friday night.

The summit will be led by venture capitalist and White House crypto czar David Sacks, and will be administered by working group executive director Bo Hines, according to the statement.

Earlier: Ex-Yale Football Player Ascends to Key Crypto Job at White House

Shortly after taking office, the president signed an executive order to create the working group from key agencies that would advise the White House on digital asset policy and evaluate the creation of a stockpile.

The working group includes the Treasury and justice departments as well as the Securities & Exchange Commission and the Commodity Futures Trading Commission.

During the 2024 campaign, Trump, who had once derided crypto as a “scam,” promised to streamline regulations, choose friendly figures to oversee the sector, support a stablecoin framework and establish a Bitcoin stockpile. After his election, the industry donated millions of dollars to his inaugural committee.

Earlier: Trump Signs Executive Actions Related to Cryptocurrency, AI

While he has not fulfilled all of those pledges, his administration’s policies and the summit itself mark a sharp departure from the Biden administration’s tough regulatory approach after the failure of FTX digital-asset exchange and other scandals. Trump has even gotten into the cryptocurrency business himself, introducing a memecoin shortly before he returned to office and supporting a project involving his sons called World Liberty Financial.

“The administration is committed to providing a clear regulatory framework, enabling innovation, and protecting economic liberty,” the White House added in the statement.

[Bloomberg]

Moniepoint Inc has announced a strategic partnership with Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), to distribute five million AfriGO cards to Nigerians.

The partnership, which aims to further enhance the government’s digital payment agenda, is also set to accelerate the adoption of AfriGO Card, Nigeria’s National Domestic Card Scheme, nationwide.

According to a statement from the two organizations, the collaboration will also leverage Moniepoint’s reach and infrastructure to tap-and-pay solution, which allows users to make payments by tapping or hovering their contactless card or Near Field Communication (NFC) enabled device over a payment terminal or directly on compatible mobile phone devices.

 

Transforming financial services delivery 

Speaking on the collaboration, the Managing Director and CEO of Afrigopay Mrs. Ebehijie Momoh, said the partnership is set to transform financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions.

  • She added that with AfriGO Cards, merchants and agents will experience seamless transaction finalization and instant settlement, leading to improved efficiency, better cash flow management, and reduced risk.
  • According to her, by reducing the country’s dependency on foreign exchange (FX) for payment transactions and ensuring data sovereignty, AfriGO Card strengthens and empowers local businesses, creating new opportunities within the growing card business ecosystem in Nigeria.
  • Also commenting on the partnership, the CEO of Moniepoint Inc., Tosin Eniolorunda, said the partnership would further drive financial inclusion across the country.

“The benefits of contactless payments are far reaching and will be great for our ecosystem.  

“There are mutual synergies in unlocking potentials by creating a better life through our services for all Nigerians and we can reshape the digital economy so everyone — individuals, financial institutions, governments and businesses — can realize their ambitions,” he said.

What you should know 

The AfriGO card initiative was launched in January 2023 by the Central Bank of Nigeria (CBN) and the NIBSS to boost financial inclusion in the country and reduce dependence on foreign cards.

  • The immediate past Governor of the CBN, Godwin Emefiele, who presided over the launch said the card was designed to cater to local peculiarities that the existing card products have failed to cater to.
  • According to him, with the AfriGo card, Nigeria joined countries like China, Russia, Turkey, and India which have their local cards. He noted that the operation of the local cards will not prevent the use of the existing international cards but will provide more options for Nigerians.
  • Meanwhile, Afrigopay Financial Services Limited is also partnering with the National Identity Management Commission (NIMC) to deliver the country’s general multipurpose card, which infuses payment into national identity.

[Nairametrics]

A Lagos West aspirant, has suggested that President Bola Tinubu is directly involved in the Lagos State House of Assembly crisis, despite maintaining an appearance of neutrality.

Speaking with Saturday Punch on the condition of anonymity, the aspirant noted that Tinubu’s influence in the ongoing power tussle was unmistakable.

 

“Tinubu’s handwriting on the Lagos Assembly crisis is clear on the wall,” he said.

The politician compared the President’s role in the Lagos crisis to his swift intervention in Rivers State, where he stepped in to mediate between Governor Siminalayi Fubara and Nyesom Wike.

He said, “Mr President intervened in the crisis between Nyesom Wike and Governor Siminalayi Fubara of Rivers State, but he wants us to believe that he closed his eyes to what is happening in the Lagos State House of Assembly.

“We know Obasa has the President’s backing, and that is why he is acting the way he is.”

The aspirant further challenged Tinubu to publicly clarify his position on the Lagos Assembly crisis, rather than allowing speculation to fester.

“If Mr President wants us to believe he is neutral in this crisis, he should come out openly and give a direction on the matter,” he added.

[NaijaNews]

In 2010, the World Bank praised the Federal Road Safety Corps (FRSC) and described it as a model in sub-Saharan Africa. It acknowledged the Corps’ post-crash response facility among other novelties since its birth in 1988. The United Nations (UN) equally acknowledged the FRSC’s Lead Agency role as well as its creative interventions to tackle avoidable road traffic crashes.

When the Corps celebrated its 25th anniversary under the leadership of Osita Chidoka, the glasses clinked, the drums rolled, celebrating the lead traffic management agency in Nigeria. Leading the toast was the man who midwifed the Corps, former Military President, Gen. Ibrahim Badamasi Babangida.

 

He was strongly supported by the then Commander-in-Chief (C-in-C), President Goodluck Jonathan, with Professor Wole Soyinka, pioneer chairman of the FRSC governing council, beating the African bata drum in praise of the feat of the Corps

From across the globe, renowned specialists in traffic management were there to celebrate an agency that the World Bank says is a model for Africa. Some felt and still feel that the Corps can do better in addressing avoidable and irresponsible driving in our country. Both the World Bank and United Nations identified such a lacuna equally.

For the past 37 years of its existence, I have been, not just a keen observer of the tides and waves of this giant organisation, but also an insider, a paid worker, or what is generally known as a Regular Marshal, although now retired. I have been privy to the intricacies, challenges, constraints, hiccups and triumphs of staying relevant in a constantly changing environment.

When we clocked 32 years under the leadership of Boboye Oyeyemi in 2020, it was funfare galore. However, when we clocked 36 years in 2024 under the leadership of Dauda Biu, the red carpets were not rolled while glasses did not click. Neither did the drum beat. There was no toast, only sober and low key events in honour of the FRSC numerous strides despite hiccups.

I recall with nostalgia, the event celebrating the Corps 25th anniversary where, speaker after speaker, described the Corps as a pride. Jonathan as well as Babangida, and other dignitaries eulogised the Corps for helping to shape the face of Nigerian roads from what it was in 1988 when the annual statistics on road traffic crashes was 25,792

According to the Corps Marshal, Shehu Mohammed, that data has significantly been reduced over the years. During a media parley to mark 37 years of service, he expressed his elation on the Corps’ stride and recounted the significant expansion from 16 sector commands to 37.

He also recalled the expansion from five Zonal Commands to 12, the movement from its 1st national headquarters in Ibadan to Gbagada in Lagos and the final movement to Abuja in 1992. At 37, we have not just expanded but today, boast of 1,102 operational vehicles.

They comprise 157 administrative vehicles, 754 patrol vehicles, 143 ambulances, and 48 tow trucks, as well as 59 Emergency Ambulance (Zebra) Points. There are also Road Side Clinics (RTC) and National Traffic Radio 107.1 FM .Just recently, the FRSC Mobile Application for real-time reporting and update on traffic situations was recently birthed by the current Corps Marshal. Our social media handles and the 122 toll free number are vital instruments in driving robust engagement with the public.

According to the FRSC helmsman, this growth is a testament to the Corps commitment to its mission. Under his watch, he reeled out the establishment of electronic documents which has improved operational and administrative efficiency, the FRSC sponsored bill on the need for FRSC Armed Squad as well as other innovations to drive down deaths and injuries. Yet, he acknowledged that there is still work to be done.

As we reflect on 37 years of policing our roads, I am elated to have been part of a crop of Nigerians described by Punch Newspaper in one of its editorials as “an assemblage of the best road safety experts in sub-Saharan Africa.” As I reflect on my years in the Corps since porting from the defunct Concord Press Limited over 28 years ago to join the services of the Corps, and God’s divine mercy upon us in striving to meet this mandate, I also reflect on an editorial by ThisDay celebrating the Corps when we clocked 25 years which like the Punch editorial, aptly captures our place in history.

At 25, the FRSC has made more than passing impact on Nigerian road users. The commission’s campaigns have helped in reducing the carnage on our roads and have made travelling by road, especially during festive periods such as Sallah and Christmas, less of a nightmare. So, all factors considered, the investment has been worth it and the creation of the FRSC by the General Ibrahim Babangida regime can now easily be justified.

The FRSC institutional vision aimed at eradicating road traffic crashes and creating a safe motoring environment received great fillip under a former Corps Marshal, Mr Osita Chidoka. He has gone beyond routine administration to focus on the international profile of the agency, institutional capacity-building and operational effectiveness.

 [Leadership]

What started like an internal crisis on January 13, 2025, when 36 lawmakers impeached Rt. Hon. Mudashiru Obasa as Speaker of the Lagos State House of Assembly has now degenerated into a major political crisis unsettling the home base of President Bola Ahmed Tinubu.

Even though he is yet to formally declare his interest in the race, sources say that the development in Lagos could pose some threats to the 2027 second term bid of President Tinubu, who needs all the home support he can get to actualise his ppresidential dream.

It would be recalled that Tinubu did not win Lagos State in the 2023 presidential election, but the dynamics of voting might change significantly in 2027, according to political pundits.

About two years ahead of the 2027 election, alignment and realignment of forces have started even as old foes and friends are reuniting, positioning strategically for the poll.

Politicians across all divides also have their eyes on the race, forming strategic alliances to make their dreams come true.

The are some indications that the northern part of Nigeria,  where President Tinubu made great inroad in 2023, is unhappy with the current administration at the Centre over a number of factors. 

This hint was voiced out by some notable personalities in the region, including former governor of Kaduna State, Malam Nasir El-Rufai.

In an interview with ThisDay, a former National Secretary of the defunct Action Congress (AC), Dr Usman Bugaje, described the current All Progressives Congress (APC)-led government as a disaster.

“If you cannot perform, you leave. What is the performance of the budget of 2024 for this particular president? My figure is that the budget performance was only 22 per cent. Do you think these kind of people should be allowed to continue? Now, forget that he’s from the south or the north or from anywhere. For me, wherever he comes from, if he cannot perform, he should leave; simple!” Bugaje made these remarks when referred to El-Rufai’s statement that Tinubu might get the former President Goodluck Jonathan’s treatment in the next round of election.

And it is from this perspective that the crisis in the Lagos State House of Assembly may further worsen Tinubu’s stand in the 2027 presidential race as analysts say this could unsettle the machinery which he had deployed for over two decades to help in winning various elections in Lagos State. 

This is despite the vote of confidence recently passed on him by the APC National Executive Committee (NEC) citing his performance in the last two years. But analysts say he needs more than the confidence vote to prosecute his 2027 agenda.

The crisis in the Lagos House of Assembly has also been linked to the jockeying for the 2027 election in the state with several politicians who are members of Tinubu’s political dynasty eyeing the coveted governorship seat with the hope of succeeding Governor Babajide Sanwo-Olu.

The impeachment of Obasa on January 13th was considered a move to “clip” the wing of the Speaker who was perceived to be wielding enormous influence in the state’s political firmament, which might work for him in securing the APC’s ticket for the Government House in Alausa.

Obasa was away on vacation in the United States when the lawmakers impeached him and immediately elected his Deputy, Mojisola Meranda as the Speaker.  

Some of the allegations aagainst Obasa were gross misconduct and poor leadership, highhandedness and lack of regard for members, intimidation and suppression of members, including inciting members against one another, misappropriation of funds and lack of transparency, gross abuse of office and privilege; the allegations which he has debunked.

When many people thought his impeachment was a foregone conclusion, Obasa arrived in the country on January 24, 2025, to describe his removal as null and void, saying it did not follow due process.

Amidst the disquiet and anxiety surrounding the impeachment and the leadership turmoil in the House of Assembly, President Tinubu was said to have expressed displeasure over Obasa’s impeachment. Unconfirmed reports said the president even directed that Obasa be reinstated. 

Many keen observers fear that if this impasse lingers, the monolithic force that has always been a force behind the president within the ranks of his associates could be shattered completely. And given that he was unable to win Lagos State in the 2023 presidential election, this development may end up worsening his performance in the 2027 presidential poll.

Added to the fears is the indication of an expected big battle over the 2027 governorship bid in the state even within the APC, with the president’s son, Seyi said to be eyeing the No. 1 Seat.

According to some observers, the president’s inability to keep his home base intact ahead of the 2027 elections may give a wrong signal to his other associates within and outside the South West geopolitical zone.

GAC’s role in crisis

Tinubu was said to have been in the dark over the development and drafted the “GAC” to intervene. The Governance Advisory Council (GAC), the highest decision making organ of the APC in Lagos State, is revered by all party members. The members comprising former governors, serving and former 

senators, former deputy governors and other APC leaders, across the 20 local governments and 37 local council development areas in the state, decide who gets what at every election.

Political observers cannot forget in a hurry how the GAC decided the fate of former Governor Akinwunmi Ambode and he lost his second term bid in 2019.

The GAC was, however, drafted to intercede in the ongoing impasse in the Lagos Assembly. Part of the group’s tasks, according to feelers, was to see to the reinstatement of Obasa.

But the 36 lawmakers backing Meranda rejected the decision, in what analysts describe as a direct challenge on the authority of the president who is invariably the leader of the party in the state.

Weekend Trust gathered that for the first time, the GAC  failed to resolve a major political crisis because members of the council have taken sides in the matter, and are therefore divided. The GAC has been turned along pro and anti-Obasa lines, it was gathered.

Two GAC members, Chief Muraina Taiwo and Senator Anthony Adefuye had sided with Obasa. They openly spoke against the process of his removal. Inside sources also said several others were backing him.

One of the GAC members who spoke with our correspondent, on the condition of anonymity, however, backed Meranda, reflecting the deep-seated division among leaders of the party.

The GAC member who was asked to comment on the crisis said: “Obasa is just one out of the 40-member House and if your colleagues say they don’t want you, why are you creating problems for us. To me, I think Obasa should just allow peace to reign and stop causing crisis.”

Bisi Akande drafted to resolve crisis

Weekend Trust learnt that when the GAC appear to have failed to resolve the crisis, former national chairman of the APC, Chief Bisi Akande and former Ogun State governor, Chief Segun Osoba, both confidants of Tinubu, were drafted to resolve the crisis. They were joined by other leaders, including Rep. James Faleke (Ikeja Federal Constituency), former Commissioner for Justice, Dr. Muiz Banire, among others.

Several meetings held last weekend pointed to the direction of Obasa resuming with the condition that he would resign afterwards to give him a “soft landing.” This, it was gathered from sources, was why his security details were restored by the police to pave way for his return to the House.

Weekend Trust  learnt further that the restoration of Obasa’s details early this week was a pointer to the gentlemen’s agreement which enabled him (Obasa) to storm the House of Assembly on Thursday with his supporters and loyalists. But the Akande-led committee was said to be unable to get the buy-in of other lawmakers to do the president’s rumoured bidding.

Is Tinubu behind Obasa?

Analysts believe the decision of Obasa to storm the assembly in a triumphant move on Thursday was a reflection of the support and green light he got from the top, however, “unpopular” the action might be.

Many lawmakers loyal to Meranda were within the premises of the House when Obasa arrived.

They watched in awe as the drama unfolded, but rejected his return and insisted Meranda remains their Speaker. They said they had decided to move on and there was no going back.

Sources said the decision by the lawmakers not to accept Obasa back was considered an affront to the president, who is widely reported to be in favour of Obasa’s return. “The president wanted a soft landing for Obasa and he doesn’t want him to be rubbished like nobody,” a source said.

The source said in backing Obasa, the president and those in alignment with him consider his popularity as a grassroots politician. In Agege, where he hails from, he is like a tin-god. The Arewa Community adores him and he remains one of the strongest APC leaders in the state, whose popularity the party cannot dispense with.

A chieftain of the party who spoke with our correspondent yesterday said: “The lawmakers insisting Obasa cannot return are actually daring the president. They cannot do such if the president were to be in the state.

“The president is now the father of the nation and that is why he has not spoken openly on the matter. But can these lawmakers confront him if he is in the state? The president said he doesn’t want something and you are saying otherwise. They are actually stepping beyond their boundaries. No doubt the House has its extant rules and regulations guiding its conducts, but the party is supreme and the leadership of the party cannot be challenged for anything”, he said.

Political scientist, Gbade Ojo, said the coup against Obasa was very “ridiculous,” saying he was impeached when he was not available to defend himself.

However, he stated that Obasa’s removal as Speaker might not affect the president’s second term ambition, adding: “The fact that the president is supporting him is still a rumour. The president needs everybody and the election has nothing to do with Obasa”.

Sanwo-Olu’s connection

In all of these, the state governor, Babajide Sanwo-Olu, who is the number one political office holder in the state, has been mum as the crisis rages. But he has been fingered as the brain behind the removal of Obasa who, sources claim, has been “disrespectful” to the governor. There were speculations that the governor “mobilised” the lawmakers to carry out the impeachment and the new leadership of the house under Meranda has been paying obeisance to him.

While he has kept mute over the development, it was learnt that his position over the crisis has pitched him against the president to the extent that he has been denied “access” to Tinubu.

Public Affairs commentator, Jide Ojo, believes Obasa’s removal was masterminded by the governor in cahoots with some members of the GAC.

“There is no smoke without fire, and obviously GAC in cahoots with the governor masterminded the removal of Obasa”, he said.

Meranda’s family background, support from colleagues threaten Obasa’s return

The crisis has thrown up the indigene-settlers’ crisis given the background of Meranda as a Princess of Iru land and a sister to the present traditional ruler of Oniru, a first class monarch in the state.

Following the withdrawal of Meranda’s security details, there were reports that those of the Oniru, Oba Abdulwasiu Omogbolahan Lawal, were also withdrawn, allegedly in connection with the Lagos Assembly crisis.

The monarch openly celebrated the election of his sister as the first female Speaker of the House of Assembly.

Following Meranda’s election, Oba Lawal wrote on his social media page thus: “I’ve just received the heart-warming news that my sister, Hon. Mojisola Meranda has been sworn-in as the first female speaker of the Lagos State House of Assembly.

“I am thrilled & excited that providence has provided her a bigger platform to serve the good people of Lagos State. I pray to Almighty Allah, to give her wisdom, strength and courage to discharge her duties without fear or favour”, he wrote.

Already, the crisis has fuelled an indigene-settler debate with some people claiming that Obasa is originally from Ogun State while the indigenes are siding Meranda, asking her not to resign despite the pressure.

Findings by our correspondent revealed that Meranda’s background has been a pillar for her in the current battle of the speaker position.

“She is not just a princess, she is an indigene of Lagos and she is a woman. Unlike when the governor would be a man and deputy, a woman, today, we have men as governor and deputy governor and the women are happy that her emergence has given the women their place in the top echelon of leadership in the state,” Jide Ojo, an associate professor added.

He, however, advised that the president needs to do a serious fence-mending in order not to truncate his 2027 ambition. He stated that the lawmakers who are against returning Obasa were concerned about their fate in 2027 as well, which explains why the house spokesperson was beckoning on their leaders to meet them directly.

“If they have a promise of a return ticket, they don’t mind throwing Meranda under the bus. They are doing this because they want assurances from their leaders,” he added.

Meranda talks tough

Speaking yesterday, Meranda, described as a show of shame, the plenary conducted on Thursday by the ousted speaker, Obasa, with four members in attendance.

Yesterday, the Lagos High Court sitting in Ikeja, ordered that all members of the Lagos House of Assembly be joined as parties in the suit filed by the ousted speaker.

Justice Yetunde Pinheiro also adjourned till March 7, to hear all pending applications in the matter.

The 35 lawmakers backing Meranda as the speaker were at the court for the hearing of a matter brought by Obasa.

[DailyTrust]