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Former CBN Director: Committee Of Governors Did Not Endorse Emefiele’s Naira Redesign Policy

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Former CBN Director: Committee Of Governors Did Not Endorse Emefiele’s Naira Redesign Policy....KINDLY READ THE FULL STORY HERE▶

Ahmed Umar, a former Director of Operations at the Central Bank of Nigeria (CBN), testified that the naira redesign initiative undertaken by former CBN Governor Godwin Emefiele lacked approval from the Committee of Governors. Umar’s testimony came during Emefiele’s ongoing trial, where he served as the first witness for the Economic and Financial Crimes Commission (EFCC)……CONTINUE READING

 

 

 

Umar revealed that in 2022, his department was tasked with drafting a proposal for the new naira design. Despite preparing the proposal with input from the Committee of Governors, the committee did not endorse it during their review on October 26, 2022.

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The witness emphasized that while the proposal included a request for a redesign in 2023, it did not receive approval from the Committee of Governors. The standard procedure mandates the Board of Directors to recommend the design to the President for approval before production can commence.

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The testimony, supported by evidence in the form of a Certified True Copy of the memorandum from the Operations Department, sheds light on the lack of official endorsement for Emefiele’s naira redesign policy.

Emefiele faces allegations of misappropriating funds amounting to N4.4 billion for printing “colored swapped N500 notes.” Despite the charges, Emefiele maintains his innocence, pleading not guilty.

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Don’t Burn Tyres On New Roads — FERMA Begs Abia Residents.

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The Federal Road Maintenance Agency (FERMA) has appealed to residents of Abia State and other road users along the Aba–Azumini highway to protect the newly completed road from activities that could damage it.....KINDLY READ THE FULL STORY HERE▶

FERMA’s South-East 2 Zonal Director, Suleiman Mohammed Omonowo, issued the warning during an inspection of the project, cautioning against the burning of tyres during celebrations, which he said could damage the road surface.

He noted that destructive practices by some youths and community members often contribute to the early failure of road projects across the country.

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“Our advice to road users, especially indigenes, is to protect the road from destruction. Let nobody come and destroy it or burn tyres in the name of celebration,” he said.

Omonowo said the Aba–Azumini highway was previously in a very bad condition before FERMA intervened, describing it as a death trap for commuters and residents.

He also expressed satisfaction with the quality of work done on the project, adding that drainage structures such as catch pits would help prevent flooding and extend the lifespan of the road.

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According to him, the highway serves as a major link between Aba, several Abia communities, and Cross River State, carrying heavy traffic daily.

He urged local construction firms to improve on quality delivery to compete effectively with foreign contractors.

Meanwhile, the Federal Roads Maintenance Engineer in Abia State, Festus Okafor, said FERMA workers have not faced harassment or violence from residents during operations in the state.

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Correctional Service Declares Escaped Yobe Inmate Wanted Nationwide.

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The Nigerian Correctional Service (NCS), Yobe State Command, has declared a 30-year-old inmate wanted after he escaped following a road accident involving a prison transport vehicle.....KINDLY READ THE FULL STORY HERE▶

The incident reportedly occurred on April 13, 2026, while inmates were being conveyed from the Medium Security Custodial Centre in Potiskum to Damaturu.

In a statement issued in Damaturu, the Command’s Public Relations Officer, DSC Abdullahi Adamu, said the vehicle conveying the inmates was involved in a crash during the journey.

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He said the accident happened while efforts were ongoing to rescue those affected.

The escaped inmate was identified as Dahiru Mohammed, with prison number J/1539/24, who was admitted into custody on November 29, 2024.

The Correctional Service described him as dangerous and warned members of the public not to have any form of contact with him.

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It urged residents to report any useful information that could lead to his re-arrest to the nearest security agency.

Authorities also cautioned that harbouring a fugitive is a criminal offence punishable under the law.

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Court Orders UI To Reinstate Students Suspended Over Fee Hike Protest.

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The Federal High Court sitting in Ibadan, Oyo State, has ordered the University of Ibadan (UI) to reinstate three students suspended over their participation in a protest against tuition fee hikes.....KINDLY READ THE FULL STORY HERE▶

Delivering judgment on Wednesday, Justice Nkeonye Maha set aside the decision of the university’s Central Student Disciplinary Committee, ruling that the students were denied fair hearing during the disciplinary process.

The court held that the failure to allow the students call witnesses and present evidence violated their constitutional right to fair hearing, rendering the sanctions against them invalid.

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The affected students — Aduwo Ayodele, Mide Gbadegesin, and Nice Linus — were suspended on July 14, 2025, after taking part in a protest against increased school fees approved by the university’s governing council.

Dissatisfied with the suspension, they approached the court, arguing that the disciplinary proceedings breached their fundamental rights and due process.

They asked the court to quash the suspension, reinstate their studentship, and award damages for alleged rights violations.

In her ruling, Justice Maha agreed with their arguments, stating that the university’s actions failed to meet the standards of natural justice.

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Following the judgment, rights group CAPPA hailed the decision, urging the university to comply fully, reinstate the students, and issue an apology.

The group said the ruling reinforces constitutional protections for freedom of expression and serves as a warning against the suppression of student protests in tertiary institutions.

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