• Party organs with PDP governors
• Anyanwu kicks

Oyo State Governor Seyi Makinde yesterday shed light on the rejection of coalition, alliance and merger proposed by former Vice President Atiku Abubakar.

He said the merger or coalition talks are unknown to the main opposition party.

The Oyo State governor said: “We didn’t just wake up and say me as xyz in the party just draw the party into any arrangements when the party organs do not have clue on what you are doing.

“They have no clue of what is in this coalition. They also have no clue whether this is personal or whether you are doing this in best interest of the party and the people of Nigeria. Those are critical.”

The former vice president on March 20 at the Yar’Adua Centre in Abuja, along with some others, including Malam Nasir EL-Rufai, declared the formation of a coalition against the ruling All Progressives Congress (APC) ahead of the 2027 election.

The governor reiterated the resolution of the PDP Governors’ Forum, which distanced itself from the coalition.

Defending the communique of the meeting, Makinde said the resolutions reflected the wide consultations with party stakeholders.

Emphasising that the Ibadan meeting was validated by the leadership of his party, he pointed out that the governors did not only meet as PDP Governors’ Forum, but they also invited the managers of the party.

He added: “The acting National Chairman, National Legal Adviser and the National Organizing Secretary were there with us. Other members of the NWC were waiting around the venue of the meeting, just in case there would be any need for them.

“We decided to tackle headlong the challenges within our party, and I’m quite glad we were able to make those decisions.”

Makinde added: “There must be a process. If the managers of the party, the organs of the party are going into a merger or coalition, there’s need for the managers of the party to know.

“But, if you have individuals, it is still within their right to associate with whoever they want to associate with. However, as a party, we haven’t gotten there. Our first assignment is to put the party on a sound pedestal.

“Politics is a game of interest. You must be interested, you must have alignment with the wider organs of your party before you go out to meet other people.”

The governors also rejected the claims by Senator Samuel Anyanwu and Monday Ude-Okoye to the position of the National Secretary. 

But rejecting the Forum’s directive that the Deputy National Secretary, Setonji Koshoedo, should act as secretary in the interim, Anyanwu said it contradicted the judgment of the Supreme Court on the party’s leadership crisis.

I remain PDP national secretary, says Anyanwu

Anyanwu said the position of the National Secretary is not vacant, adding that he cannot be supplanted.

He said: “I remain the National Secretary of the PDP; this is not the first time that some people are trying a shortcut that falls short of the PDP constitution and contradicts the orders of the court.”

Anyanwu said those influencing the governors to remove him from office are not helping the party.

He said the Supreme Court judgment of March explicitly invalidated two previous judgments that those involved in the proxy war against him had relied upon.

He also pointed out that a subsisting Federal High Court order of January clearly restrains the PDP, its leaders, Deputy National Secretary, Koshoedo, or any other person from acting as the National Secretary.

Anyanwu said he would resume fully at the PDP National Secretariat in Abuja, insisting that there is no vacancy.

He added: “It seems that they deliberately want to kill the PDP today and tomorrow and blame Wike for it. 

At the governors’ meeting, the party’s National Legal Adviser  told them that such decision on the position of PDP National Secretary is wrong, that the Supreme Court had spoken on the matter.”

Anyanwu said the copy of the Supreme Court judgment affirming his position as National Secretary has been submitted to the Independent National Electoral Commission (INEC) by his lawyer.

Group to governors: leave Anyanwu alone 

A group, ‘PDP Youth Group in the Southsouth,’ warned the governors against troubling Anyanwu, saying that they are creating tension in the party.

It accused the governors of hypocrisy, adding that five of them are supporting President Tinubu for a second term.

The group said in a statement: “Senator Samuel Anyanwu’s reinstatement by the Supreme Court in March 2025 confirms his position as the authentic National Secretary of the party, but some governors who are reportedly upset over his ties or friendship with the FCT Minister, Nyesom Wike, are pushing for his ouster, even in ways contrary to the party’s constitution.”

I won’t be distracted, says Makinde

Speaking further on the programme, Makinde said he would not be distracted by the clamour in some quarters for him to run for President in 2027.

The governor said he would not allow anyone to set an agenda for him, adding that as of now, he remained committed to delivering infrastructure, policies and programmes that will make lives more meaningful for the people, which is the mandate given to him. 

He maintained that though he has the capacity to occupy the highest position in the land, he would put into consideration what the Nigerian people want, what his political party wants and what would be in the best interest of the people.

He added that if his political journey ends with being governor of Oyo State, he would cherish the opportunity given to him by the people.

The governor maintained that his administration has been able to build road infrastructure and put in place adequate security across the state, noting that these are the enablers for the agribusiness success and economic expansion being witnessed. 

He made a reference to his recent trip to France, saying that it was to finalise the deal to have a Food Wholesale Market established in Ijaiye by the Rungis International. He described the project and the Special Agro-Processing Zones springing up in Eruwa and Ijaiye as some of the gains of the agribusiness policy of the administration.

Several top lawmakers of the New Nigeria People’s Party (NNPP) in Kano State have entered into closed-door discussions with the National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje, signaling their likely return to the ruling party.

According to sources, the strategic meeting—held discreetly in Abuja—was attended by key NNPP lawmakers including Senator Sulaiman Kawu Sumaila (Kano South Senatorial District), Kabiru Alhassan Rurum (Rano/Kibiya/Bunkure Federal Constituency), Ali Madaki (Dala Federal Constituency), and Hon. Badamasi Ayuba, a former federal lawmaker for Danbatta/Makoda.

Insiders describe the meeting as part of a defection strategy amid growing discontent within the NNPP over what some lawmakers have labeled “injustice, favoritism, and lack of internal democracy” under the leadership of party founder, Rabi’u Musa Kwankwaso.

Although Senator Sumaila’s media aide, Abbas Adam Abbas, confirmed the meeting with Ganduje, he denied that it amounted to a defection.

Speaking in Hausa on Nasara Radio Nigeria, Abbas insisted that while overtures were made, Sumaila had not officially accepted any offer from the APC.

Nonetheless, political observers suggest the lawmakers’ move could reshape Kano’s political dynamics ahead of the 2027 general elections.

The Senate President, Godswill Akpabio, recently expressed confidence that the APC would reclaim Kano in 2027, citing the combined influence of Deputy Senate President, Senator Barau Jibrin, Senator Basheer Lado, and Ganduje.

“Ahead of 2027, we are confident that with Senator Barau, Dr. Ganduje, and your strategic self, Kano is already in the kitty of APC,” Akpabio said.

Reacting to the developments, NNPP Chairman in Kano State, Hashim Dungurawa, dismissed the lawmakers as insignificant and described them as “traitors” who had already been suspended from the party.

“They are not important to us. They betrayed the NNPP long ago, and we had taken disciplinary action before now,” Dungurawa said.

“We’ve long suspected their intentions. This only proves that they were sent to create division. But we thank God we discovered their mission early enough,” he added.

Dungurawa stated that suspending senior party members was never easy, but reiterated that the party would not tolerate betrayal.

“Yes, politics needs people—but not traitors. We don’t need them,” he said.

Inflationary pressure has reappeared as Nigerians grapple with increases in average costs of basic food items and energy.

For the first time after the rebasing of the Consumer Price Index (CPI), headline inflation spiked in March to 24.23 per cent –  105 basis points above the 23.18 per cent recorded in the previous month.

The National Bureau of Statistics (NBS) yesterday indicated that the rate of increase in the average price level was higher in March than the level in February.

In January, the NBS updated the weight and price reference periods in calculation of the CPI to make the inflationary gauge more reflective of changes in consumption patterns and the economy generally.

The rebasing did not only brought the base year closer to the current period from 2009 to 2024, it also introduced some critical methodology changes to improve the computation processes.

After the rebasing, inflation dropped from 34.80 per cent in the pre-rebased period of December 2024 to 24.48 per cent in January 2025. It dropped further to 23.18 per cent in February.

In its latest report, NBS recorded 186 basis points changes between the monthly inflation rate, with the month-on-month rate rising from 2.04 per cent in February to 3.90 per cent in March.

The NBS attributed the spike to the rise in costs of food and alcoholic beverages, fuels and electricity, among other items.

Analysts at CardinalStone said the resurgence was due to renewed foreign exchange (forex) pressures amid heightened global risk-off sentiment.

They pointed at foreign portfolio investments (FPIs) outflows and increased dollar demand, which saw naira dropping by 2.4 per cent in March.

Experts also cited increase in price of Premium Motor Spirit (PMS) or petrol, following the temporary suspension of the naira-for-crude swap arrangement.

Food inflation rate stood at 21.79 per cent in March 2025. The composite food index decreased to 21.79 per cent from 23.51 per cent.

Core inflation, which excludes volatile agricultural produce prices and energy, rose to 24.43 per cent from 23.01 per cent.

Specifically, the month-on-month food inflation rose by 50 basis points from 1.67 per cent in February to 2.18 per cent in March.

The NBS attributed the increase in food inflation to increases in the average prices of basic food items including ginger, garri, broken rice, honey, crabs, potatoes, plantain flour, periwinkle and pepper amongst others.

On a state-by-state basis, food inflation was higher in Oyo with 34.41 per cent; Kaduna (31.14 per cent) and Kebbi (30.85 per cent).

On the other side, the 9.61 per cent recorded by Bayelsa; Adamawa (12.41 per cent) and Akwa Ibom (12.60 per cent), were the lowest inflation rates.

Analysts expressed concerns that the resurgent inflationary pressure might lead to renewed tightening stance by the Central Bank of Nigeria (CBN).

CBN Governor Dr. Olayemi Cardoso, had at the end of the first Monetary Policy Committee (MPC) meeting in 2025, reiterated the apex bank’s commitment to orthodox monetary policies, noting that the apex bank’s stance will be reflective of the inflationary trend.

With inflation rate dropping in February, the MPC had decided to maintain all key monetary policy parameters, including the Monetary Policy Rate (MPR) at 27.50 per cent, the asymmetric corridor around the MPR at +500/-100 basis points, the Cash Reserve Ratio (CRR) at 50.00 per cent for Deposit Money Banks and 16.00 per cent for Merchant Banks, and the Liquidity Ratio at 30.00 per cent.

Clarifying the impact of the rebased CPI, Cardoso had explained that the lower inflation figure should not be misinterpreted.

He underlined the need to analyse more data before drawing comparisons, noting that the CBN is currently assessing the figures and will provide further guidance in due course.

The CBN boss stressed the critical importance of collaboration between monetary and fiscal authorities in sustaining recent economic improvements.

Addressing concerns about the impact of elevated borrowing costs on economic growth, the CBN governor assured that the apex bank’s primary objective is to stabilize the foreign exchange and financial markets.

He expressed confidence that such stability would attract increased foreign investments, stimulating the much-needed economic growth.

Cardoso also highlighted the competitiveness of the Nigerian currency, which has spurred growing interest from international investors.

Rivers State Government yesterday insisted that the Nigerian Bar Association (NBA) must refund the N300 million it received or face a lawsuit.

It countered the NBA’s claims that the money was “an unconditional gift” and not tied to the hosting of its Annual General Conference (AGC) in the state.

The AGC, to be held from August 22 to 28, was originally billed for Port Harcourt, the Rivers capital. 

The association later chose Enugu as the host city in protest against the declaration of emergency in the oil-rich state.

The state government vowed to deploy all legal processes to retrieve the state’s resources if the NBA failed to willingly refund the money.

A statement by the Senior Special Assistant on Media to the Sole Administrator, Hector Igbikiowubo, insisted that the records of the government showed that the N300 million was tied to the hosting of the AGC in the state. 

The statement said: “The government rejects the NBA’s allegation that the N300million payment made by the state was a ‘gift’ unrelated to hosting rights for the NBA AGC 2025.

“For clarity, the Rivers State Government’s records show that the payment of N300 million to the NBA was made with the mutual understanding that Rivers State would host the 2025 edition of the NBA AGC.

“The Rivers State Government entered into this arrangement with the NBA in good faith, with the understanding that hosting the conference in the state would attract significant economic benefits to our state, positively and directly impact the businesses of our people. 

“The NBA’s unilateral decision to relocate the AGC 2025 against our mutual understanding and subsequent decision to withhold the N300 million paid for the purpose of hosting the NBA AGC 2025 in Rivers State is unethical and amounts to a breach of trust.

“Failure of the NBA to immediately refund the N300 million to the Rivers State Government will compel the implementation of all legal means to recover the property of the good people of Rivers State.

“We reaffirm our willingness to engage in partnerships with all professional bodies, including the NBA, but we will not accommodate exploitation of our people and the Rivers State Government.”

Also, stakeholders faulted the NBA for relocating its annual conference from Port Harcourt after collecting N300m from the state government.

They called on the leadership of the legal body to immediately redeem the association’s image by refunding the money.

The commentators described the position of the NBA that the money was an unconditional gift as odious and irresponsible, insisting that the government paid the money to attract some economic and social benefits to Rivers people. 

A former President of the Ijaw Youths Council (IYC) Worldwide, Udengs Eradiri, said the NBA missed the point and squandered a platform it would have used to speak to power on its position concerning Rivers.

Eradiri advised the body to return the money to Rivers warning that failure to do so would bring an integrity crisis to the association.

He said: “The NBA should return the money since they have relocated the conference. 

“I don’t think the management of the NBA was right to have moved that conference.

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“It would have been a landmark opportunity to express their grievances over it. But the NBA seems to be blowing hot and cold.

“The honourable thing is to return the money. This money is not (suspended Governor Siminalayi) Fubara’s money, it is Rivers State money. 

“If you collected money for a purpose and you are no longer going to carry out that purpose, you should honourably return the money. The NBA is losing its integrity.”

A former Chairman of Emohua Local Government Area, Dr. Chidi Lloyd, a lawyer, called for the immediate resignation of the NBA President, Afam Osigwe (SAN).

He was of the opinion that Osigwe had brought the legal profession to disrepute. 

He insisted that the money should be refunded because it was not even budgeted for by virtue of the Supreme Court’s judgment.

He said: “How many other states contributed to the hosting of an NBA conference? Where was the NBA when a governor of a state recklessly demolished an arm of government?

“Afam Osigwe didn’t make any statement. Where was the NBA when a governor of a state presented a budget to three members of a state Assembly? The NBA didn’t say anything. 

“More worrisome is that the N300 million they gave to the NBA was not appropriated. And as lawyers, we ought to know that.

“The best thing for Afam to do is to refund that money. Let’s assume the Sole Administrator hired him as a lawyer to get this money from the NBA, what will be his defence?

“I am asking him to step down. He has made the NBA a beggarly organisation. But we are not. Lawyers are aristocrats. Let them refund the money to Rivers government because it was not appropriated and he should resign. 

“Agreement is agreement. How many millions did the Enugu State Government give to them to take the conference to Enugu?

“I am a member of the NBA and I pay my dues and this is how lawyers all over the federation pay their dues. We also pay conference dues. So, Afam has no reason to be going around to be begging for money.”

The President of the Movement for Izon Ethnic Nationalities in the Niger Delta (MOSIEND), Amb. Kennedy Tonjo-West said the defence of the NBA did not hold any water. 

“The claim that a whole N300 million is an unconditional gift doesn’t hold any water. If they felt that democratic governance is lacking in Rivers, the best is to still hold the programme. If you feel you want to relocate it, you must let go of the cash.”

A former Publicity Secretary, Ijaw Youths Council (IYC) Worldwide, Ebilade Ekerefe, said the primary reason the money was given to NBA was to enable Rivers to host the conference.

He said: “If for whatever reason they are relocating the conference to Enugu, the honourable thing is to refund the money. There is no better way to put it. 

“It is Rivers State money and the reason it was given to them was for the NBA to invest the money in Rivers so that Rivers people can benefit.

“If they are moving the programme to Enugu and you are taking the money along, it is capital flight. NBA is an honourable organisation and has a reputation it built over the years. The society is watching.

“If you collect that money without organising the programme in Rivers it will look like the Rivers government is being swindled. It is not Sim Fubara’s money. The money belongs to Rivers. 

“It is not the first time Rivers has hosted the conference. They had done it before and we saw the impact.

“Nobody is saying that you should not pull out of Rivers. If you are doing so, return the money because the money belongs to Rivers people. It doesn’t belong to the sole Administrator or to Fubara.”

NBA’s position

NBA declined comments yesterday on Rivers government’s threat to sue.

In a statement by its AGC 2025 Planning Committee Chair Emeka Obegolu (SAN) on Monday, it clarified the decision to host the 2025 AGC in Port Harcourt was taken in August 2024 and was not subject to any bidding process or payment of any hosting rights.

NBA said: “The host city has no hosting right and there is no representation by the NBA that the Conference must be held in a chosen city. 

“Traditionally, because of the enormous cost involved in hosting the AGC, NBA Conference Planning Committee approaches organisations, agencies of government and state governments for support and the support requested is unconditional and not tied to hosting rights or any rights whatsoever.

“Recent NBA conferences have been supported by different state governments, corporate organisations, ministries, departments and agencies whose budgets accommodate corporate social responsibilities and share the same vision with NBA.

“Such financial support is in the form of gifts, partnerships or sponsorships. The money from Rivers State was a gift and was not tied to any purported hosting right for the NBA AGC. 

“We are committed to delivering a world-class conference to members of the Bar and will not be drawn into any unnecessary controversy over this issue.”

The CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, says the ongoing instability in global oil markets is negatively impacting Nigeria’s economy.

He said while falling petroleum product prices may benefit consumers, the broader economic consequences are severe for Nigeria, which heavily relies on oil exports.

“As consumers, we are happy that the price is coming down, but…as a nation, it’s not good for our economy because our revenue inflow is also impacted,” Ahmed told State House Correspondents at the Meet-the-Press briefing series organised by the Presidential Communications Team at the Aso Rock Villa, Abuja, on Tuesday.

“Most importantly, what is even destabilising the market is inconsistencies in the way the USA President Donald Trump also sends his policies. He moves today. Tomorrow, he reverses. So, it’s been challenging to predict the next level,” Ahmed explained.

He cited a recent sharp drop in prices—from $73 to $60 per barrel in a single day—as an example of how revenue inflows are being disrupted.

Further compounding the crisis are domestic challenges, including pipeline vandalism and reduced production, he argued.

His comments follow recent OPEC reports indicating that Nigeria’s oil output has fallen to approximately 1.4 million barrels per day.

In recent weeks, Trump’s aggressive trade policies—including sweeping tariffs on goods from several nations, especially China, and threats of levies on other countries—have injected uncertainty into global markets.

These measures, often abruptly announced or reversed, have disrupted supply chains and investor confidence, contributing to fluctuations in commodity prices, including crude oil.

The oil market, already sensitive to geopolitical tensions and demand shifts, has seen added volatility as Trump’s tariffs and waivers sway economic forecasts.

For instance, when tariffs were imposed, oil prices often dipped on fears of slowed global growth, while exemptions or rollbacks triggered temporary rebounds.

Pundits say such instability complicates long-term planning for oil-dependent economies like Nigeria, where revenue hinges on steady crude prices.

The NMDPRA Chief told journalists: “Recently, as we all know, the global oil market – not only the oil market but the global economy – has been a bit volatile in the sense of the new American government’s policy of tariffs, not only targeted at China but at the whole world.

“Investors and traders not only in the oil and gas industry but also in the general economies of the world are moving left and right to the extent that some are doing day trading. That means you do your trading today. You close by the end of today because you never know what tomorrow’s policy will drive the market into.

“So the crude oil and petrol products market continues to have a downward trajectory because of these inconsistencies and policies of the government of the United States, and the key aspect of it is the aspiration of the American president to ensure that the crude oil pricing, or the crude oil price, comes down to maybe below $50 a barrel; that’s why he encourages more exploration in his country.”

Turning to the local implications, Ahmed acknowledged that while lower product prices benefit Nigerian consumers, the overall impact on the economy is negative.

He said, “So how does it relate to our own local industry regarding crude oil pricing, product pricing, demand and supply? We see a downward trajectory in terms of product pricing and crude oil pricing.

“So, we are happy as consumers of the derivatives of product pricing that the price is coming down, but when you look at it globally as a nation, it’s not good for our economy because our revenue inflow is also impacted.

“If the crude oil price, like what happened some Fridays ago, where it dropped in one day from about $73 a barrel to $60, you can see that in terms of our crude oil production, our revenue is impacted severely.”

The NMDPRA chief urged stakeholders to prepare for prolonged uncertainty in the oil sector.

He added, “This volatility will continue because as recently as yesterday, when President Trump again exempted some sectors from tariffs, particularly to China, like in terms of vehicular tariffs, you saw the market again start to go up.

“So, this is how it will continue to show, just to give you a general perspective of the oil industry.

“We recently had a report from OPEC that Nigeria’s production has come down to about 1.4 million barrels a day. If we lose the price by $10, you can see the negative impact on our economy, national reserves, and the strength of our naira. Again, when you look at the product market, we are happy to say, oh, the price is coming down.”

In a similar vein, Ahmed revealed that imports of premium motor spirit (petrol) have plunged from 44.6 million litres a day in August 2024 to 14.7 million by 13 April 2025—a fall of roughly 30 million, or 67 per cent, according to the latest Nigerian Midstream and Downstream Petroleum Regulatory Authority supply tracker.

This was as local supply rose 670 per cent within that period.

Ahmed said after contributing virtually nothing in August, local plants delivered 26.2 ML/day in early April, a jump from the 3.4 ML recorded in September, the first month with measurable output.

He hinged the surge on the phased restart of the Port Harcourt Refining Company in late November and incremental volumes from modular refineries.

Despite the progress, combined supply crossed the government’s 50 ML/day consumption benchmark only twice in the eight-month window—November (56 ML) and February (52.3 ML).

In March it slipped just below target at 51.5 ML, and in the first half of April, it remained short at 40.9 ML.

Figures from the NMDPRA also showed the balance among the three sources of PMS —Oil Marketing Companies, Dangote refinery and the Nigerian National Petroleum Company Limited — fared since last October.

OMCs raised average daily imports from about 22 million litres in October 2024 to roughly 30 million litres in December, settling in the mid 20s. They now account for 55 60 per cent of all petrol on most days.

Meanwhile, deliveries from the Dangote Petroleum Refinery and Petrochemicals rose steadily from 10 ML/day in October to around 22 ML in January and February before easing to 18 ML by mid April 2025. The plant now meets about two fifth of national demand.

From 24 ML/day in October, the NNPCL volumes fell monthly, slipping to 1 ML in January and zero recorded supply after February, Ahmed revealed in his slide presentation.

The NMDPRA Chief argued that the authority only grants import licences relative to the country’s supply requirements.

On refining operations, he explained that six licensed private and four public refineries currently produce 1.12 million barrels per day.

Six licensed private plants account for 679,500 bpd of the total. The Dangote single train complex refines 650,000 bpd.

Other modular sites include Aradel (11,000 bpd), OPAC (10,000 bpd), Waltersmith (5,000 bpd), Duport Midstream Limited (2,500 bpd) and Edo Refining and Petrochemicals Company Limited (1,000 bpd).

State owned facilities add 445,000 bpd. The refurbished Port Harcourt complex (150,000 bpd), Warri (125,000 bpd), Kaduna (110,000 bpd) and the old Port Harcourt unit (60,000 bpd) make up the Nigerian National Petroleum Company Limited’s share.

The NMDPRA said it has issued 47 licences to establish covering 1.75 million bpd and 30 licences to construct for 1.23 million bpd. Only four plants currently hold licences to operate, and these together have a 27,000-bpd steady output.

Ahmed said five LTC projects with a combined capacity of 689,500 bpd are at the commissioning or construction stage, including Dangote with 650,000 bpd. Smaller builds include AIPCC Energy’s 30,000 bpd plant and Waltersmith’s 5,000 bpd second train.

The Minister of the Federal Capital Territory, Nyesom Wike, says the suspended Governor of Rivers State, Siminalayi Fubara, has not apologised to him to consider forgiving him.

According to him, for there to be forgiveness, the person who did wrong must first acknowledge it and seek forgiveness.

The minister, speaking through his media aide, Lere Olayinka, was reacting to the call by Niger Delta ex-militant leader, High Chief Government Ekpemupolo, alias Tompolo, who called on him to forgive Fubara, his estranged political godson.

Tompolo, while speaking on the Rivers State crisis in a statement recently, emphasised the need for restraint and unity and urged Wike to set aside his anger for the greater good.

 “And just like I will not accept rebellion from my son, I will also not cause more problems. Wike is angry, but he has to bring his temper down for the good of all. We will have a dialogue and resolve all lingering issues, and again Fubara will return to his seat,” Tompolo said.

Asked for his response to the call by Tompolo, Wike, through his aide, “There is no offence. It is when somebody has offended you personally that you are talking about the person seeking forgiveness or whatever. As Christians, let’s now assume that Fubara has offended the minister, do you forgive someone who has not come to you to seek forgiveness?”

Olayinka, emphasising the process of reconciliation, added, “The person who has wronged you must first agree that in his mind he has wronged you. Let’s assume that Fubara has offended the minister, has he come to seek forgiveness? I’m not saying there is an offence and there should be forgiveness but he has not even come for forgiveness.”

According to Olayinka, Wike has not accused Fubara of personal wrongdoing but has merely called for adherence to governance principles.

“The minister has never said that Fubara offended him personally. He only said that Fubara should govern in accordance with the rule of law and that Fubara should not throw away those who risked their lives and resources and that is not too much to ask. He said, ‘Those who worked to make you governor, don’t throw them away like that’. So, that is not about forgiveness. If there is one person Fubara would say he has offended, it should be the President.”

He further questioned the governor’s change in posture towards Wike, noting that Fubara once worked closely with him.

“He is the one to go for soul-searching because throughout the time he was working with this same Wike, throughout the time Wike was facing the bullet for him, Wike was not a bad person then. So, at what point did Wike become a bad person to him? He should ask himself. When did Wike become somebody that Fubara would be so bold, telling him that he would deal with him? At what point? He should ask himself questions like this.”

Waxing proverbial, Olayinka added, “You are begging a doctor to provide medicine for someone that is sick, but you are not begging the person that is sick to take the medicine. What happens?”

me Nigerians have taken to social media to express frustration over the recent crash of a high-yield investment platform, CBEX, which netizens have widely described as “MMM Pro Max.”

LEADERSHIP reports that a group of angry individuals stormed the CBEX office in the Oke-Ado area of Ibadan, Oyo State, on Monday evening, looting furniture and other items after the digital trading platform reportedly crashed.

A Nigerian woman identified as Bolarinwa has also trended online after revealing to reporters that she invested her entire life savings, along with funds borrowed from friends, into the scheme after hustling in Libya.

Speaking in pidgin English, she said, “I invested 200 dollars, which I collected from all my friends; all the money was 1,200.

“I go to Libya to work, no work, fighting… see my hands. I came back, and my neighbour told me that the programme on the ground now (CBEX) would help me; I should go and find the money. The small money I bring from Libya I join am.”

Bolariwa explained that despite initial hesitation, peer pressure and desperation pushed her into the investment.
“I did not want to do it. She (my neighbor) collect the money, I saw the money she collected. She said I should join it, that it will make the money times two. So I do it,” she added.

CBEX promised users a 100% return on their investments within one month, exclusively dealing in U.S. dollars. But like many Ponzi schemes before it, the platform crashed without warning.

Multiple users found the platform inaccessible, and withdrawal attempts failed. Within hours, investors logged in only to find their account balances wiped to zero.

The sudden collapse of CBEX has now reignited discussions about financial literacy, regulation, and online investment scams in Nigeria.

The Securities and Exchange Commission (SEC) has issued a public statement, invoking the newly signed Investments and Securities Act, 2025 (ISA 2025).

The commission declared that operating an online foreign exchange or digital asset investment platform in Nigeria without formal registration is illegal.

“By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services,” the SEC said in its Sunday statement.
The Act empowers the SEC to regulate virtual and digital asset exchanges, commodity exchanges, and other investment platforms under Section 3(3)(b), expanding its scope to prevent such schemes from operating unchecked.

SEC’s Director General, Dr. Emomotimi Agama, described ISA 2025 as a “landmark step” toward a safer, more transparent investment environment.

“The ISA 2025 has given the commission the legal backing to provide clarity, ensure investor protection, and enhance market confidence.

“We welcome innovation, but it must occur within a regulated environment that protects investors and maintains the integrity of our market.”

The commission also reminded the public that operating a Ponzi scheme now carries a minimum penalty of N20 million, with 10 years or more jail terms under the new law.

“N20 million is not the entire penalty. It is just part of the sanctions to be meted out. Promoters of these schemes will face the full weight of the law,” Agama stressed.

Apparently not interested in his party regaining power at the centre in 2027, Akwa Ibom State governor, Pastor Umo Eno, has said that President Bola Tinubu of the All Progressives Congress (APC) will be in office for two terms of eight years.

Eno, a governor elected on the platform of the opposition Peoples Democratic Party (PDP) in 2023, disclosed this at the flag-off of the Akwa Ibom section of the Lagos-Calabar coastal highway project on Tuesday afternoon.

Details Later…

As communities in Bassa Local Government Area (LGA) bury their loved ones killed by marauding gunmen, Governor Caleb Mutfwang of Plateau State has apologised to victims’ families over the failure of government and security agencies to protect them and their properties.

In the Zikke community of the LGA, over 50 people were gunned down in the early hours of Monday, April 14, with houses razed.

Two weeks earlier, scores of people were gruesomely killed in the Bokkos Local Government Area of the state.

During his visit to the Zikke community to commiserate with the people, Mutfwang, speaking at the palace of the Paramount Ruler of the Miango community on Tuesday, admitted that the government has failed to protect them.

He begged the people of the state to forgive him, saying he’d been crying since the latest killings happened.

“I will tell you the truth: I have been crying since yesterday because I had trusted God that all the arrangements were put in place, that this will not happen again. We have made investments in security.

“But like all human arrangements, sometimes they fail. I want to admit that on Sunday night into Monday morning, we failed you. Please, forgive me,” Mutfwang begged.

The governor also urged the people not to relent in their efforts to secure their communities, provide vital information for intelligence gathering, and expose criminals’ antics.

The governor and the entourage also visited some of the families who lost their loved ones in the attack.

In his reaction, Ronku Aka, the Paramount Ruler of Irigwe land and the Brangwe of Irigwe, urged the government to help the communities by providing social amenities in the area.

Former Nigerian vice president, Atiku Abubakar has accused President Bola Tinubu of failing Nigerians in his responsibility as the Commander-in-Chief.

Reacting to the recent killing of over 50 people in Zike community in the Kimakpa area of Kwali district, Bassa Local Government Area of Plateau State, Atiku said such tragedy is a grim reminder of the worsening state of security in Nigeria.

He said that the incident is regrettable and unacceptable and several Nigerians are losing their lives due to the “incompetence of the Tinubu-led administration”

“The protection of lives and property is the primary responsibility of any government. Unfortunately, President Tinubu has failed these citizens and continues to fail the,” Atiku said. 

The former vice president while condemning the incessant attack by Boko Haram terrorists in Borno State, said the disturbing developments underscore the total collapse of the current administration’s security policy and architecture.

Calling on the Attorney General of the Federation and the Minister of Justice, to prioritize the prosecution of the criminals, Atiku also said that special courts should be established to fast-track their trials.

“Our justice system must not give the impression that terrorism pays. I am also alarmed by reports of armed criminal groups crossing our borders to carry out attacks. This is a national disgrace and further proof of a failed security framework. Condemnation after the fact is not enough,” he wrote on his X page.

According to Atiku, as long as the criminal continue to move about and go around without any form of punishment they will continue to return to inflict more pain on innocent Nigerians.

In addition, Atiku urged the National Assembly to as a matter of urgency pass legislation that allows state governments to properly arm and equip their security outfits with modern weapons.

He said this action will strengthen Nigeria’s overall security architecture and help relieve the overstretched federal security agencies working overtime to stem these challenges of insecurity.

For community leaders across the country, Atiku said it is important that any form of collaboration with armed groups are rejected. He called for total support Nigeria’s security forces and personnel who has continued to sacrifice their all for the safety and peace of the nation.