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How Emefiele Spent N1.7bn Defending Naira Redesign In Court – CBN Investigator

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An independent report has indicted the embattled former Central Bank of Nigeria Governor, Godwin Emefiele, of spending over N1.7 billion on legal fees for suits instituted against the naira redesign policy introduced during former President Muhammadu Buhari’s administration.

According to the report by The PUNCH on Friday, Emefiele spent questionable legal fees for 19 cases instituted against the policy.

The report quoted Emefiele as also using N1.325 billion, for what was described as “stolen pre-incorporation,” adding that the money was funneled to four companies, including a legal firm that got N300 million.

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Between 2015 and 2021, an investment company was said to have collected unlawfully a total of N4.89bn.

READ ALSO: Police Arrest Three Men With Two Human Hearts

A breakdown indicated that the firm received N262mn in 2015, N464mn in 2016, N550mn in 2017, N726mn in 2018, N762 in 2019, N684 in 2020, and N1.44bn in 2021, totaling N4.89bn.

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Continuing, the reports further indicted Emefiele of also allegedly paying N17.2bn to 14 deposit money banks participating in the Nigerian Electricity Market Stabilisation Facility.

Among the people who instituted an action against Emefiele on the policy were eight states, including Kaduna, Kogi, Zamfara, Ekiti, Kano, and Ondo, while disagreeing with the deadlines for the use of old Naira notes in the country.

The suit came as a result of the difficulties caused by the policy in the lives of citizens, the practicality of the deadline, and the constitutionality of the policy.

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READ ALSO: Military Destroys 68 Illegal Refining Sites In Niger Delta

Aside from the states, another litigant was a Lagos-based lawyer, Tope Alabi, who approached the Federal High Court sitting in Lagos for leave to initiate contempt proceedings against the ex-CBN governor for alleged disobedience of the Supreme Court orders on its naira redesign policy.

Alabi made the application via a March 27 ex parte motion in the suit, with Emefiele listed as the sole respondent.

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Describing the naira swap as a “cash confiscation policy,” he said it had affected the day-to-day running of his office as his staff could not make it to work daily due to the non-availability of physical cash, adding that commercial drivers “do not have a point of sale device/machine to collect fares.”

The lawyer filed a 28-page affidavit in support of his application wherein he claimed that the Supreme Court on March 10, in Suit No. SC. 162/2023, “directed Emefiele to make available and allow the old naira notes of N200, N500, and N1000 to co-exist as legal tender with the new N200, N500, and N1000 notes till December 2023.”

READ ALSO: FG Resumes Payment Of Arrears To N-Power Beneficiaries

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“The respondent who had withdrawn N200, N500 and 1000 old notes from circulation on 10 February 2023 has refused to comply with the Order of the Supreme Court made on 10 March 2023 till date by releasing the old notes to circulation.”

The document also stated, “The CBN also went further by authorising the issuance of debenture for the NESI SPV, starting with N64.8bn in 2015. By 2021, N952bn debenture had been issued. The investigator said the money was diverted from public funds.’’

It was further gathered that Emefiele could be tried for alleged manipulation of the naira exchange rate, fraudulent implementation of the e-naira project, and exemption of three foreign firms from paying income tax.
PUNCH

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NiMet Warns Of Flash Flooding In 19 States

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The Nigerian Meteorological Agency (NiMet) has warned that 19 states across the country may experience flash flooding.

In an advisory issued yesterday, NiMet said increased surface runoff and flash flooding could occur during heavy early rains due to dry and hardened soils that prevent water from properly soaking into the ground.

The agency listed the states likely to be affected as Zamfara, Nasarawa, Kwara, Oyo, Lagos, Ogun, Ekiti, Delta, Imo, Anambra, Enugu, Ebonyi, Akwa Ibom, Cross River, Rivers, Edo, Ondo, and Bayelsa.

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NiMet said the possible impacts include flooded roads, traffic disruption, damage to homes, farmlands, and infrastructure, blocked drainage systems, power outages, telecommunication disruptions, and increased risks of injuries and water-borne diseases.

READ ALSO:Meningitis: NiMet Lists High-risk States

The agency advised residents to clear blocked drainage and stay updated with weather and flood alerts.

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NiMet also cautioned motorists and pedestrians against driving or walking through flooded areas.

The agency asked relevant authorities and stakeholders to strengthen coordination, preparedness, and emergency response measures to reduce flood-related risks.

An informed community is a prepared community. Know the risks and act early,” the advisory read.

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READ ALSO:NiMet Predicts Three-day Rain, Thunderstorms From Monday

The Federal Government had warned that 14,118 communities in 33 states and the Federal Capital Territory (FCT) are at risk of severe flooding in 2026.

The states include Abia, Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Kaduna, and Kano.

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Others are Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, and Zamfara, and the FCT.

READ ALSO:NiMet Predicts 3-day Thunderstorms, Rains

Meanwhile, Nimet and the National Emergency Management Agency (NEMA) have intensified efforts to improve disaster management in the country with plans to develop a national early warning system roadmap.

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The move was announced yesterday during a courtesy visit by the Director General of NEMA, Zubaida Umar, to the Director General of NiMet, Charles Anosike, at the NiMet headquarters in Abuja.

Mrs Umar applauded NiMet for the timely release of the 2026 Seasonal Climate Prediction and its consistent weather forecasts, noting that the agency had recorded significant improvements under Prof. Anosike’s leadership.

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‘Nothing New’ – Wike Defends Houses For Judges, Dismisses NBA Criticism

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Federal Capital Territory, FCT, Minister, Nyesom Wike, on Friday defended the construction of houses for judges and justices in Abuja, dismissing concerns that the projects could compromise the independence of the judiciary.

Wike spoke after inspecting ongoing judicial infrastructure projects, including judges’ residences, the Court of Appeal Abuja Division and proposed residential projects for judges of the Industrial Court and the Code of Conduct Tribunal.

The minister’s remarks followed criticisms reportedly raised by the Nigerian Bar Association (NBA) over executive involvement in the provision of infrastructure for the judiciary.

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Rejecting the concerns, Wike argued that government provision of facilities for judicial officers was neither new nor a threat to judicial autonomy.

He said: “The mere fact that the executive constructs buildings does not mean it will interfere with the judiciary.

READ ALSO:2027: Wike Opens Up On Preferred Rivers Guber Candidate

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“We have built public houses for the National Assembly and for the judiciary before. The Supreme Court was built by government. So there is nothing new in this.”

Wike accused the NBA leadership of inconsistency, alleging that the association frequently sought financial support from state governments for its conferences and activities while criticising government interventions in the judiciary.

“All they are interested in is when state governments will sponsor NBA activities. If governments fund their conferences, does that mean they are no longer independent?” he queried.

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He maintained that the FCT Administration would not be distracted from implementing projects designed to improve the welfare and working conditions of judges and justices.

“This is a voluntary act by government to make judicial officers comfortable and focused on their work. It is not done to erode judicial independence,” the minister added.

READ ALSO:Open Bank Account In PDP Name, See What Will Happen – Wike Dares Turaki Faction

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Wike said the projects formed part of activities lined up to mark President Bola Tinubu’s third anniversary in office.

He expressed satisfaction with the completion level of the judges’ quarters, describing the project as well executed and nearly ready for inauguration.

We’ve seen the judges’ quarters beautiful. I’m very elated that the job was done well. The houses are well furnished and almost 99 per cent ready,” he stated.

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The minister also disclosed that preparations had begun for the groundbreaking ceremony of residences for judges of the Industrial Court and the Code of Conduct Tribunal.

However, he expressed dissatisfaction with aspects of the finishing at the Court of Appeal Abuja Division project, despite its advanced stage of completion.

READ ALSO:Trump Tired Of War In Iran – Shehu Sani

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Almost 90 per cent complete, but I must say it’s not the quality I expected. I have told the contractor that several errors must be corrected before inauguration,” he said.

Wike assured that the administration would continue monitoring contractors to ensure all projects are delivered according to specification and within schedule.

All the promises that have been made, we are going to fulfil them. That is why we are going around to inspect and ensure contractors are ready,” he added.

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LASG Fixes Dates For Public Service Exams, Releases CBT Guidelines

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The Lagos State Government, through the Ministry of Basic and Secondary Education and the Lagos State Examinations Board, has released the timetable and guidelines for the 2026 Public Service Examinations.

In a statement by the Lagos State Government, the announcement, which aligns with a prior circular from the Head of Service with Ref No: CIR/HOS/’26/005 dated January 21, 2026, sets out key instructions for candidates preparing for the exercise.

The examinations will hold between Tuesday, May 12 and Tuesday, May 19, 2026, at the Lagos State Public Service Staff Development Centre (PSSDC), Magodo, Lagos.

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They include the Compulsory Examination for all cadres in the State Public Service, the Combined Confirmation/Promotion Examination for Clerical Officers II (CO II) and Clerical Assistants (CA), as well as the External Secretarial Examination.

READ ALSO:Lagos Begins 2026 Civil Service Promotions

According to the board, candidates are expected to begin printing their examination slips from Tuesday, May 5, 2026, through the official portal using their registration login details.

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The slip will contain key information such as each candidate’s exam date and time.

“All candidates are required to present valid identification at the examination centre. Acceptable forms of identification include Staff Identity Cards, National Identification Number (NIN) slips, and Lagos State Residents Registration Agency (LASRRA) cards,” the statement said.

Candidates are also required to bring printed copies of their examination slips to the venue and must strictly follow the date and time allocated to them.

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READ ALSO:Why Tinubu Didn’t Attend Project Commissioning In Lagos —Presidency

The board further advised candidates to acquaint themselves with basic computer skills ahead of the exercise, as the examinations will be conducted using a Computer-Based Test, CBT, format.

It also warned that dressing must be formal, adding that inappropriate dressing will not be allowed at the examination centre.

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Candidates were urged to comply fully with all instructions to ensure a smooth and orderly process.

“The Lagos State Examinations Board urges all candidates to comply fully with these guidelines to ensure a smooth and orderly examination process,” the statement added.

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