The embattled former Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for his arraigned over alleged abuse of office and allocation of billions of dollars. Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning. In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos. The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.” Details later…

  Monday 08 April 2024 Forced friendship: Wike, Fubara square up again as Villa’s peace deal crumbles BDC operators ask CBN to lower exchange rate Comedian AY, wife separate after 20 years Testing begins on 700MW Zungeru hydroelectric power plant – FG FG declares Tue, Wed Sallah holidays, Tinubu arrives Lagos LP kicks as NLC meets on Abure’s fate today Electricity Subsidy Non-Existent, FG Raising Funds For Cash-Strapped DisCos — Falana Suspected Insurgents Kill Army Lieutenant Along Borno, Yobe Border Ukraine To Lose War If US Congress Withholds Aid — Zelensky I’m Not Leaving Labour Party, Says Obi NSCDC Repels Bandit Attack On FG’s Silo In Katsina India-Bound Passenger Vomits, Excretes 80 Wraps Of Cocaine At Lagos Airport Abductors Of Two Varsity Students In Taraba Demand N50m Ransom Alleged Budget Padding: SERAP Sues Akpabio Over Failure To Recall Ningi Petrol: Oil marketers propose N550/litre price to Dangote PDP sweeps Bayelsa council polls OKUAMA KILLINGS: Residents can’t sleep with eyes closed, Urhobo communities complain to monarchs NSCDC official, 9 others killed in Sokoto palliative stampede Atiku Tackles Tinubu Over Lagos-Calabar Highway Project Nigerians In UAE Stranded Over Work Permit, Visa Ban Man Assaults Doctor Over Wife’s Death In Edo Niger Secures $114m Loan From ECOWAS Bank CBN Sacks Another 40 Staff Ganduje Brought Shame To Kano People, I Must Probe Him – Gov Yusuf ‘Kidnap Kingpin’ Wadume Receives Heroic Welcome In Taraba After Jail Term Sultan asks Muslims to look out for Shawwal moon, Monday Battle for party leadership: Ayu keeps PDP in suspense Forex inflows rise to $3.7b Visit a newspaper stand this morning, buy and read a copy for yourself…

  Authorities of the Nigeria Correctional Service (NCoS) last night confirmed the release of kidnap kingpin , Hamisu Bala (aka Wadume) from its Correctional Centre in Kuje on Friday. According to officials of the NCoS, Bala was set free because he had completed his seven-year prison term. “We didn’t not issue a press statement on his release,” said James Okoh, deputy spokesman of the NCoS. Wadume was reportedly welcomed to his hometown, Ibbi in Taraba State on Sunday by a large crowd. He also visited the traditional ruler of his village to thank him for standing by him throughout his trials. Wadume was arrested by operatives of the Intelligence Response Team of Inspector-General of Police in 2019 but he escaped in a controversial circumstance after exchange of guns between policemen and soldiers attached to 93 Battalion Ibbi/Takum Road in Taraba State. The IRT team was taking him to Abuja when the soldiers attacked them. Three of the team members were killed in the process. Wadume was later arrested in Kano by police detectives and put on trial.

  The US Citizenship and Immigration Services (USCIS) has announced significant changes to the duration of work permits for non-citizens, including Nigerians, through a temporary and final rule (TFR). Under this new rule, the automatic extension period for some Employment Authorisation Documents (EADs) has been extended from 180 days to a maximum of 540 days. This move aims to streamline access to work permits for eligible non-citizens and reduce disruptions in employment authorisation while awaiting renewal application decisions.   Director of USCIS, Ur M. Jaddon, stressed the importance of this step in avoiding lapses in employment authorisations and supporting long-term solutions. The extension to 540 days will provide stability for individuals and employers alike, ensuring continuity in the workforce. This initiative complements USCIS’s ongoing efforts to improve access to employment for authorised individuals.   The extended duration applies to eligible applicants with pending EAD renewal applications filed timely or after October 7, 2023. It aims to protect around 800,000 EAD renewal applicants, including asylum seekers and Temporary Protected Status holders, along with their employers, potentially benefiting up to 800,000 employers.

  The Niger State Government has signed a Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development, securing a $114 million loan for several development projects. The agreement includes the construction of the Madalla Green Economy Market, valued at $11mn, and other significant initiatives. The MoU was formalised during the ECOWAS Investment Forum (EIF) held in Togo’s capital, Lome. Among the projects earmarked for funding is the construction of the Madalla-Suleja-Maje dual carriage road budgeted at $30m. Additionally, there are plans for the transformation of the former secretariat into the School of Medical and Health Sciences, with an allocated budget of $40m and the construction of eight international trailer parks across locations in the state, totalling $43m. The Commissioner for Finance, Lawal Adamu Maikano, who led the Niger State team during the signing, highlighted the strategic goals behind the initiatives. He said the aim was to bolster Niger’s ongoing transformation by creating new investment opportunities, accelerating infrastructure development to generate employment, enhancing the healthcare sector and advancing Governor Mohammed Umaru Bago’s vision for a “New Niger”.

  The Central Bank of Nigeria (CBN) has continued with the disengagement of staff in furtherance of its ongoing restructuring as it sacked a fresh batch of 40 staff mostly from the development finance department (DFD), Daily Trust authoritatively reports. According to DailyTrust, the sack letters were released late Friday, details of those affected are sketchy but it was learnt that Musa Zgabawa Bulus, an Assistant Director of the CBN, heading the National Collateral Registry (NCR) was affected. NCR is an initiative of CBN aimed at improving access to finance particularly for Nano Micro Small and Medium Enterprises (MSMEs) leveraging movable assets. Daily Trust gathered that deputy directors and assistant directors were mostly affected with 22 from the DFD and the remaining 18 from Medicals and Procurement Services Department. Recall that not less than 27 members of staff, most of them directors at the Central Bank of Nigeria, were affected by the first batch of dismissals, even as more are set to be axed in the coming days. Amongst those affected were eight directors, 10 deputy directors, five assistant directors, two principal managers and two senior managers. With the latest number of affected staff, the total has now reached 67, in what appears to be a series by the Olayemi Cardoso-led Board of Governors. Why DFD staff were affected   Daily Trust learnt that the move may not be unconnected with the refocusing of the CBN away from development finance interventions. The CBN governor had on several occasions voiced his concern about the development finance intervention of the apex bank. On October 12, 2023, the CBN governor said the apex bank would pull back from direct development interventions, stressing the need for the apex bank to return to its core function of monetary policies and advisory roles to support economic growth. Briefing after the last Monetary Policy Committee meeting, Cardoso said: “The intervention has two dysfunctions. One, it takes a lot of time for something you do not have an expertise to do, and two, if not carefully handled, creates a lot of distortions in your economy through inflow of money supply. “The interventions that took place in the recent past were estimated in excess of N10 trillion. I’m not talking about ways or means. What was the budget of the federal government of Nigeria? What was the budget of the largest states in Nigeria? Do the maths and it would tell you the extent of damage too much of what may appear to be good things can do to an economy.” Ag. Director signing currency an irregularity- Staff members Senior Management members of the CBN who spoke to our reporter on the condition of anonymity also raised concern about the perpetration of illegality which has seen the current Coordinator of the Currency Operations Department, Olayemi J. Solaja, append his signature on the Naira note. Daily Trust findings suggest that Mr Solaja has not yet gone through the process of being confirmed a full-fledged Director and his letter of appointment indicates that he is to Coordinate the affairs of the department. According to the source: “The process has not been followed by the CBN Governor who talks about institutional discipline. How can someone sign the national currency as Director currency when not confirmed or appointed? “From the history of currency to when naira and kobo were printed and minted, there is a CBN policy on modalities to sign Banknotes.” When Daily Trust sought to know who signs the currency in the absence of a substantive director, the source said: “They continue printing using the former director’s signature. Throughout the period of the acting appointment of the previous occupant, she did not sign the currency until she was given an appointment letter as a director.” Daily Trust gathered that when the Managing Director of the Nigerian Security Printing and Minting (NSPM) drew the attention of the CBN to the irregularity, The Deputy Governor, Operations, Mrs. Emem Nnan Usoro allegedly overruled, insisting that the coordinators’ name be imprinted on the currency. The CBN rule book( a compendium of policies and Regulations) stipulates the process of appointment in the Bank for appointment as Director is as follows: (a) Advertisement of the vacancy, indicating the requirements for a prospective candidate. (b) Screening of candidates/documentation (c) Conducting interviews for qualified candidates (d) Final results/ communications of appointment. Efforts to get the reaction of the Ag director of Corporate Communication, Hakama Sidi Ali was not successful as she did not pick her call or return the text messages to her line.

  No fewer than ten persons, including a volunteer with the Nigeria Security and Civil Defence Corps, lost their lives in their bid to collect some food items in Sokoto. The unfortunate incident is said to have aimed the life of one Fatima Bala, a volunteer operative with the Nigeria Security and Civil Defence Corps, and nine other persons during a stampede in the house of a former governor of the state, now a senator. The stampede allegedly occured at the Gawon Nama residence of Senator Aliyu Magatakarda Wamakko during a sallah palliative distribution. Although the sad incident occurred on Thursday night, neither the Nigeria Police Force nor the NSDSC has agreed to confirm or deny it as at the time of going to the press. However angered by the defeaning silence over the incident, the Peoples Democratic Party has called for an investigation into the sad incident without further delay. A statement signed by the publicity secretary of the PDP in Sokoto State, Hassan Sahabi Sanyinnawal, said the party was alarmed by the incident. The statement said, “We wish to express deep sadness over the incident and extend our heartfelt sympathies to the families of the no fewer than 10 people, who passed away, while praying for the recovery of victims, who sustained injuries at the scene of the regrettable occurrence. “The PDP however, wishes to call on security agencies to launch a thorough investigation into the matter, with a view to forestalling the ugly incident in the future.