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SDP Presidential Candidate, Adebayo Faults CBN Policy On Naira Redesign

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The presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has faulted the currency redesign policy of the Central Bank of Nigeria (CBN).

Prince Adebayo who said this on Channels Television during an interview, noted that there were no policy or project management parameters behind the currency redesign initiative.

He said the process of currency swap should not be “chaotic”, noting that the currency is central to the economy.

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There is no policy behind it. There was no planning, definition of stakeholders, or project management parameters. No timeline and simulation done,” he said.

“The process is not supposed to be chaotic. The economy is a sensitive thing. Currency is so central to the economy because it is the means of exchange.”

Adebayo criticised the CBN governor for seeking the approval of the president for a one-week extension, adding that the apex bank should not be “subject to political interpretation”.

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The SDP presidential candidate said Emefiele should have consulted with the board of the apex bank on the currency redesign rather than the president, who he said is a “political leader”.

“The CBN is not supposed to be allowing itself to be subject to political interpretation,” he said.

“Even this idea of going to the president to take permission for a one-week extension, none of that is …there is a board of governors for the CBN that is supposed to deal with the internal business of the CBN.

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READ ALSO: SDP Presidential Candidate Pays Courtesy Visit To Ogunsua Of Modakeke, Reintrates Commitment To Poverty Alleviation

“With all due respect, for every ailment of this election, there is INEC, DSS, and police. You don’t want to give the CBN a role to play in the management of the election.

“To say, I have gone to take instruction and permission from the president to add more 10 days, that is not how to run the CBN with all due respect.

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“The idea is not something that the changing of currency is emanating from a political person, which is the president.

“The idea is that the CBN belongs to all of us whether there is a change of government, party, or person.

“It looks like the governor of the CBN should rather be working in the presidency as a special adviser or something.

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“I don’t want the CBN to look like an extension of the politics of Nigeria.”

 

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Why I Refused To Challenge Emergency Rule – Fubara

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Rivers State Governor, Siminalayi Fubara, has explained why he resisted the pressure from his supporters to challenge the emergency rule declared in the state by President Bola Tinubu, saying his decision was guided by a desire to secure peace, stability, and progress for the people.

Fubara stated this on Friday during a statewide broadcast after his return to the state following the expiration of the emergency rule.

The governor and his deputy, Prof. Ngozi Odu, and the Chief of Staff, Rivers State Government House, Edison Ehie, arrived at the Port Harcourt International Airport, Omagwa, two days after President Bola Tinubu lifted the state of emergency imposed on the state and ordered his reinstatement.

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Their aircraft with number 5N-BTX touched down at 12:15 pm and they were received to a heroic welcome.

On the ground to receive Governor Fubara were several of his supporters, including a former Commissioner for Information and Communications, Emma Okah; former Commissioner for Health, Dr Adaeze Oreh; former Nigerian Ambassador to the Netherlands, Orji Ngofa; former Commissioner for Environment, Sydney Gbara; and former factional Speaker of the State House of Assembly, Victor Oko-Jumbo.

Others present were former Commissioner for Youths, Chisom Gbali; former Commissioner for Physical Planning and Urban Development, Evans Bipi; former President of NUPENG, Igwe Achese; former Commissioner for Education, Dr. Tamunosisi Gogo-Jaja; as well as former council chairmen of Port Harcourt City, Ezebunwo Ichemati, among others.

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President Tinubu, on Wednesday, announced an end to the emergency rule, which ended the six-month tenure of ex-naval chief, Vice-Admiral Ibok-Ete Ibas (retd.), as Rivers State sole administrator.

Rivers State has faced one of Nigeria’s fiercest political crises, pitting Fubara against his predecessor and FCT minister, Nyesom Wike.

Once allies, their fallout over control of state structures and resources split the House of Assembly, sparking impeachment moves, protests, and violence, including the burning of the Assembly complex.

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READ ALSO:4-yr-old Killed As Flood Submerges More Communities In Delta

President Tinubu intervened with a peace deal, which failed to calm frayed nerves, before the declaration of emergency rule.

In a statement on the cessation of the emergency rule on Wednesday, made available by the Presidency, the President said, “The Governor, His Excellency Siminalayi Fubara, the Deputy Governor, Her Excellency Ngozi Odu, and members of the Rivers State House of Assembly and the speaker, Martins Amaewhule, will resume work in their offices from September 18, 2025.

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“It, therefore, gives me great pleasure to declare that the emergency in Rivers State of Nigeria shall end with effect from midnight today (Wednesday).”

Fubara was expected to resume on Thursday as many of his supporters thronged the gate of the Government House along Azikiwe Street, Port Harcourt, as early as 6am on Thursday, but the governor failed to resume.

On Thursday, at its first plenary after six months, the state House of Assembly called on the governor to immediately forward the list of commissioner-nominees to it for screening and confirmation.

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The plenary was presided over by Speaker Martin Amaewhule at the Conference Hall of the Legislative Quarters in Port Harcourt on Thursday.

READ ALSO:Full Text Of Governor Siminalayi Fubara’s Statewide Broadcast

The Assembly also called on the governor to submit the Rivers State Appropriation Bill, while noting that members would review how funds were spent during the six months of emergency rule.

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In a statement issued by the Special Assistant on Media to the Speaker, Martins Wachukwu, the Assembly gave details of the resolution.

The statement read, “Returning from a six-month emergency rule induced by the political impasse in the state in the recent past, the Rivers State House of Assembly, on Thursday, at its first legislative sitting, through a motion, set the legislative agenda for the remaining part of the third season of the 10th Assembly.”

The statement indicated that the House Leader, Major Jack, on behalf of eight co-sponsors, in a motion, averred that the House considered it imperative to set the agenda to reflect current realities, while House members, in their contributions to the debate on the motion, applauded the motion and expressed support for all the prayers therein.

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Addressing the state, Fubara described the emergency rule period as “enormously challenging” but said he willingly abided by the declaration to allow room for peace to be restored.

READ ALSO:BREAKING: 24hrs After, Fubara Finally Arrives Port Harcourt

“As your governor, I accepted to abide by the state of emergency declaration and chose to cooperate with Mr President and the National Assembly, guided by my conviction that the sacrifice was not too great to secure peace, stability, and progress of Rivers State.

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“This was why I also resisted the pressure to challenge the constitutionality of the declaration of the state of emergency, the suspension of democratic institutions and all other actions that we endured during the difficult period,” he said.

The governor commended President Tinubu for brokering a peace deal between all parties involved in the crisis, noting that the intervention helped reconcile him, Federal Capital Territory Minister, Nyesom Wike, and members of the Rivers State House of Assembly.

Our leader, Nyesom Wike, all members of Rivers State House of Assembly, and I as your governor have all accepted to bury the hatchet and embrace peace and reconciliation in the best interest of our dear state,” Fubara said.

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Expressing gratitude to Tinubu, the governor reaffirmed his loyalty to the president, promising never to take his intervention for granted. He also appealed to residents who remain sceptical about the peace process.

“To those who have expressed genuine fear, frustration and uncertainty over the nature of the peace process, I assure you that your concerns are valid and understood.

READ ALSO:PHOTO: Rivers Residents Throng Govt House To Welcome Fubara

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“However, nothing has been irretrievably lost. There remain ample opportunities for necessary adjustments, continued reconciliation, and inclusiveness,” Fubara assured.

Fubara, however, charged political leaders, stakeholders, and institutions in the state to ensure that the peace achieved endures.

Fubara noted that with peace restored, his administration’s focus would now return fully to governance and service delivery.

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‘Bond with Rivers continues’

Speaking shortly after he arrived at the Government House, Port Harcourt, the governor assured the people of the state that his government would continue to work in their best interest.

He expressed his gratitude to the people and residents of the state for the warm reception he received earlier at the Port Harcourt International Airport, Omagwa in IKwerre local government area of the state.

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However, no prominent politician loyal to the Minister of the Federal Capital Territory, Nyesom Wike or any of his known supporters were present at the airport to welcome the governor.

Meanwhile, at the Government House, Port Harcourt, thousands were already jubilating when the news of the governor’s arrival at the airport became public knowledge.

The celebration changed into singing and dancing as musical bands supplied appropriate tunes to sustain the tempo as the governor’s convoy drove into the abode where he had been absent for the last six months.

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Right inside the Government House, the atmosphere was also electric as workers also celebrated the governor’s return.

Fubara immediately inspected some offices and facilities in the seat of power before answering questions from the Government House press crew, where he expressed happiness with the show of love by the people and residents of the state.
(PUNCH)

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Nigeria Sliding Into One-party State – Catholic Bishops Warn

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Catholic Bishops in Nigeria have raised the alarm over what they described as the suppression of opposition voices, warning that Nigeria is gradually sliding into a one-party state.

The bishops expressed this concern in a communiqué issued at the end of the plenary meeting of the Catholic Bishops Conference of Nigeria held in Akwa Ibom State, which ended on Friday.

The communiqué was signed by the Archbishop of Owerri and President, CBCN, Lucius Ugorji; and Bishop of Uromi and Secretary, CBCN, Donatus Ogun.

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The bishops cautioned politicians against pushing the nation towards a one-party state which they argued is unhealthy for democracy.

READ ALSO:Young Catholics Converge On Rome For Pope Leo’s Vigil

The bishops expressed dismay at the growing preoccupation of politicians with securing and retaining power ahead of the 2027 general elections, rather than delivering good governance.

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They noted that this obsession with political dominance had fuelled corruption, inefficiency, and the neglect of citizens’ welfare.

The bishops further criticised political defections, alignments and realignments, describing them as self-serving moves by politicians with little intention to serve the people.

The communiqué read, “In the face of many live threats, politicians are more preoccupied with securing and retaining power and less concerned with good governance for the common good of the electorate.

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READ ALSO:Why I kidnapped Catholic Priest – Suspect

“Abandoning their duties, they seem more concerned with the pursuit of their personal political agenda and perfecting strategies to grasp power in 2027.

“In fact, there seems to be suppression of opposition as Nigeria appears to be tilting to a one-party state, the development of which is not a good omen for democracy.

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“We observe that many politicians are merely strategising, aligning and realigning, defecting from one party to another; and posturing for future political offices with little or no intention to contribute to the common good and make better the lives of the citizens.”

Ahead of the 2027 elections, the bishops demanded electoral reforms that should not only ensure electronic transmission of results from the polling units, but also their electronic collation in real time.

They also urged the judiciary to remain impartial in electoral matters, stressing that judicial credibility was vital to national stability.

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Edo PDP Urges Police To Steer Clear From LG By-election

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The Edo State chapter of the Peoples Democratic Party on Friday called on the state police command
not to lend any form of support, deployment, cover, or legitimacy to Saturday’s bye election.

On Tuesday, an Edo State High Court sitting in Benin restrained the Edo State Independent Electoral Commission and the state government from going ahead with planned local government by-elections across 59 wards in the state.

In the court papers made available to journalists on Thursday in Benin, the Edo State Attorney General and Commissioner for Justice was also a party to the suit.

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Justice Mary Itsueli, sitting as a vacation judge, granted the order on Tuesday following an ex-parte motion brought by the Peoples Democratic Party.

The PDP, through its counsels, Oluwole Osaze Uzzi, Michael Ekwemuka and P. W. Akwuen, in the suit, B/247M/2025, had prayed the court for leave to apply for judicial review of EDSIEC’s decision to conduct by-elections to fill councillorship positions in the affected wards.

READ ALSO:Court Restrains EDSIEC, Edo Govt From Conducting LG By-elections

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The party argued that the councillors’ tenures remain valid until September 2026, making any attempt to declare their seats vacant unlawful.

Justice Itsueli, who held that the applicants had shown sufficient grounds for the court to intervene, also referred the matter to the Chief Judge of Edo State for reassignment to a regular court, fixing September 30, 2025, for the return date.

In a letter by the PDP chairman, Tony Aziegbemi to the state Commissioner of Police, Monday Agbonika on Friday , he described the election as an illegal exercise.

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The statement reads, “I write on behalf of the Peoples Democratic Party, Edo State Chapter, to bring to your attention and emphasize the subsisting order of the High Court of Edo State restraining the Edo State Independent Electoral Commission and the Edo State Government from conducting any purported Local Government by-elections in 59 wards across the state.

READ ALSO:SUBEB Urges LG Chairmen To Sack Absentee Teachers In Bauchi

“On Tuesday, September 16, 2025, Justice Mary E. Itsueli, sitting as a vacation judge of the Edo State High Court, granted an order in Suit No. B/247M/2025, restraining EDSIEC and the State Government from going ahead with the planned by-elections.

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“The Honourable Court further held that the tenures of the duly elected councilors in the affected wards subsist until September 2026, and therefore, any attempt to declare their seats vacant or to conduct fresh elections would be unlawful and unconstitutional.

“The Court categorically ordered that the Respondents “are to stay further actions and are restrained from conducting the election or taking any further steps in connection with the planned Local Government by-election across 59 wards in the Local Government Areas of Edo State, pending the hearing and determination of the substantive matter.”

READ ALSO:FULL LIST: APC Sweeps Rivers Elections, Wins 20 Of 23 LGAs

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The substantive matter has since been referred to the Honourable Chief Judge for assignment to a regular court, with a return date fixed for September 30, 2025.

“In the light of the foregoing, we respectfully call on your esteemed office to refrain from lending any form of support, deployment, cover, or legitimacy to this illegal exercise. Any participation by security agencies in the purported elections would amount to aiding and abetting contempt of court and undermining the rule of law.

“We trust that, as neutral institutions of state committed to upholding law and order, you will ensure that your men and officers do not participate in or provide security for this unlawful process. The integrity of our democracy, the sanctity of judicial pronouncements, and the credibility of security institutions must be preserved.

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“Copies of the court order are attached here in,” he added.

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