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Former CBN Governor Emefiele Pleads Not Guilty To Fresh Charges

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Former CBN Governor Emefiele Pleads Not Guilty To Fresh Charges
Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has pleaded not guilty to new charges filed against him by the Economic and Financial Crimes Commission (EFCC). Emefiele appeared before Justice Maryann Anenih of the FCT High Court, Abuja, to answer to a four-count charge.....KINDLY READ THE FULL STORY HERE▶

The charges against Emefiele relate to his alleged involvement in approving the printing of ₦684.5 million at the rate of ₦18.96 billion, contrary to the direction of the law and with the intent to cause injury to the public during the implementation of the naira swap policy of the administration of former President Muhammadu Buhari. Additionally, he is accused of unlawfully approving the withdrawal of ₦124.8 billion from the Consolidated Revenue Fund of the Federation.

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This latest arraignment adds to the legal troubles facing Emefiele. In November 2023, he was arraigned before Justice Hamza Muazu on a six-count charge of procurement fraud, to which he pleaded not guilty. He was also accused of abusing his office by approving contracts for the acquisition of vehicles totaling ₦1.2 billion from 2018 to 2020.

Furthermore, on April 8, 2024, Emefiele was arraigned alongside Henry Omoile before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, for an alleged $4.5 billion and ₦2.8 billion fraud, to which he also pleaded not guilty.

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The new charges against Emefiele were filed by the EFCC prosecutor Rotimi Oyedepo (SAN) on behalf of the Attorney General of the Federation. The charges include allegations of knowingly disobeying the direction of the law regarding the printing of currency notes without proper approval and the unauthorized withdrawal of funds from the Consolidated Revenue Fund.

Emefiele’s plea of not guilty signals his intention to contest the charges brought against him in court. The legal proceedings will continue as the case unfolds, adding another chapter to the ongoing legal saga involving the former CBN governor.

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2027: Tinubu Will Lose If ADC Is On Ballot – Amaechi.

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Former Minister of Transportation, Rotimi Amaechi, has stated that President Bola Tinubu would lose the 2027 presidential election if the African Democratic Congress (ADC) is allowed to participate fully.....KINDLY READ THE FULL STORY HERE▶

News reports that Amaechi made the claim during an appearance on Channels Television’s breakfast programme on Friday.

He criticised the Tinubu administration and the All Progressives Congress (APC), accusing them of interfering in opposition parties and attempting to weaken potential challengers ahead of the election.

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Amaechi argued that regardless of whether the election is free or flawed, Tinubu would be defeated if credible opposition candidates are on the ballot.

He also dismissed interpretations of a Court of Appeal ruling suggesting the opposition was leaderless, insisting that such claims misrepresent the law.

According to him, the government is working to prevent strong opponents from emerging by using institutions, including the judiciary, to influence party structures.

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Amaechi called on authorities to allow political institutions to function independently and ensure that all parties can field candidates without interference.

He maintained that Nigerians would ultimately decide at the polls, questioning the administration’s chances amid economic challenges and ongoing insecurity.

“How can he win with the current state of the economy and security situation?” he asked.

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Airtel Suspends Airtime And Data Credit Services In Nigeria.

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Airtel Nigeria has announced the temporary suspension of its airtime and data credit services, which previously allowed eligible prepaid customers to borrow airtime or data and repay on their next recharge.....KINDLY READ THE FULL STORY HERE▶

reports that the telecom operator said the decision is part of ongoing operational adjustments driven by evolving regulatory requirements in Nigeria’s telecommunications sector.

In a statement on Friday, the Director of Corporate Communications and CSR, Femi Adeniran, explained that the move was necessary to ensure compliance with current industry standards.

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He added that the suspension aligns with broader efforts to meet regulatory and operational guidelines governing telecom services in the country.

Despite the suspension, Airtel assured customers that normal services remain unaffected, noting that subscribers can still purchase airtime and data through regular channels.

The company further stated that the temporary pause will not impact network performance or overall service delivery nationwide.

Reacting to the development, Airtel Nigeria’s Director of Marketing, Ismail Adeshina, described the decision as necessary and responsible.

He said: “This is a necessary and responsible step as we align our operations with evolving requirements. Airtel Nigeria remains committed to the highest standards of compliance, transparency, and consumer protection, while continuing to innovate responsibly within Nigeria’s digital ecosystem.”

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Airtel added that further updates on the suspended service will be communicated in due course.

The development comes amid growing regulatory scrutiny of digital lending and credit-based telecom services in Nigeria.

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Tinubu Signs 2026 Budget, Expands 2025 Appropriation Bill Into Law.

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President Bola Ahmed Tinubu has signed the ₦68.32 trillion 2026 Appropriation Bill into law.....KINDLY READ THE FULL STORY HERE▶

reports that the development was announced on Friday in a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.

The 2026 budget provides a total expenditure of ₦68.32 trillion. Tinubu also approved the extension of the 2025 budget implementation period from March 31, 2026, to June 30, 2026.

Of the total budget, ₦4.799 trillion is allocated to statutory transfers, ₦15.8 trillion to debt servicing, ₦15.4 trillion to recurrent expenditure, and ₦32.2 trillion to capital projects under the Development Fund.

With capital spending accounting for about 50 percent, the budget reflects the administration’s focus on economic stability, security, infrastructure development, and inclusive growth.

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The allocation structure is designed to balance statutory commitments, debt obligations, recurrent costs, and capital investments aimed at boosting productivity and improving living standards.

The President also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the implementation of the 2025 capital budget to June 30, 2026.

The extension is expected to ensure full utilisation of funds for ongoing infrastructure and development projects across the country.

It will also allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects, improve execution rates, and maximise public spending value.

With the 2026 Appropriation Act taking effect from April 1, the Federal Government is set to begin full implementation in line with the Renewed Hope Agenda.

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Tinubu directed MDAs to ensure transparency, discipline, and efficiency in the use of allocated resources, stressing value for money and timely project delivery.

He commended the National Assembly for its swift consideration and passage of the budget, and reiterated the importance of cooperation between the Executive and Legislature in driving national development.

The President also reaffirmed his administration’s commitment to fiscal reforms, stronger revenue generation, job creation, and expanded social protection programmes.

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