News
Dispute stalls Federal Govt, Emefiele plea bargain talks

The suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele and other top officials of the bank held by the Department of State Service (DSS), may face trial, this is according to the Nation newspaper.
This follows the stalling of the plea bargain move between the Federal Government and the embattled apex bank boss.
The Nation newspaper reported that Emefiele and the affected officials of the apex bank have “not made substantial concessions on some refunds expected from them, while sources said trillions of Naira were being tracked by a federal agency but only a few billions of naira was offered as refundable by some of those linked to the suspicious transactions.
It was gathered that some interceding forces and Emefiele have not made progress on the plea bargain terms.
Despite Emefiele’s offer to step aside in August, the other aspects of plea bargain process were “not substantially met.”
It has also been confirmed that the four deputy governors were dropped because of their alleged complacency when Emefiele was in the saddle at the apex bank.
It was learnt that the Presidency was shocked by the “massive scale of fraud and flagrant violations of the CBN Act,”.
It was also learnt that following interventions, the government’s investigation, initially coordinated by a security agency, had recommended plea bargain option with Emefiele, who wanted it.
Apart from Emefiele offering to step aside, other terms were the withdrawal of court cases against the government and the refund of substantial cash allegedly linked to him and others.
But there were strong indications that the plea bargain option may have suffered a setback.
“The engagement of the Special Investigator has also uncovered more mismanagement of resources and questionable expenditures in CBN than what some security agencies dug up.
A source within the Presidency, said the CBN was stinking. He declined to volunteer information on the plea bargain dimension.
The source said the government might prosecute anyone indicted.
He said: “I don’t know whether plea bargain has collapsed or not. I don’t even know if that is on the table to start with. But I know the CBN Governor and the Deputies have been removed.
“The investigations across board are going on and Iam sure the govt will prosecute anyone who has compromised the country.”
Investigation confirmed that the four deputy governors were replaced because of their alleged complacency.
The Presidency source said none of the deputy governors complained when Emefiele was allegedly mismanaging the CBN.
“Most of the DGs “actively collaborated with Emefiele on policies and decisions not in line with the CBN’s mandate,” he said.
Those affected were Folashodun Adebisi Shonubi (Deputy Gov Operations and Acting Governor); Aisha Ahmad (Deputy Governor, Financial System Stability): Adamu Lamtek (Deputy Gov Corporate Services) and Kingsley Obiora (Deputy Governor, Economic Policy).
The source added: “Investigation is still ongoing. The special investigator sure uncovered a lot of rots which implicated the Deputy Governors.
“There is no way the Deputy Governors would have remained with the scale of corruption, poor corporate governance and complacency that happened under Emefiele.
“Allowing them to remain will mean the government has condoned all that went down under their watch.”
Source: The Nation Newspaper
News
BREAKING: Senate confirms Olayemi Cardoso as CBN Governor and other Deputies

The Senate has confirmed Olayemi Cardoso, as the Governor of the Central Bank of Nigeria (CBN), and four others deputy governors during the screening exercise, in replacement of the then-acting CBN governor Folashodun Shonubi.
Cardoso assumed office last Friday while awaiting confirmation by the Senate.
The confirmed deputy governors include Mrs Emem Nnana Usoro, Mr Muhammad Sani Abdullahi Dattijo, Mr Philip Ikeazor, and Dr Bala M. Bello.
Details later…….
News
BREAKING: TUC, NLC, to ground activities nationwide from Oct 3

The Nigeria Labour Congress and the Trade Union Congress have resolved to ground activities nationwide from October 3, 2023, following what the Labour Unions tagged as the “failure” of government to successfully implement policies to alleviate the sufferings of Nigerians following the removal of the subsidy on Premium Motor Spirit.
NLC national president, Joe Ajaero, during a virtual National Executive Council meeting which was held on Zoom, Tuesday told members of NEC that a meeting was held with the officials of the TUC to deliberate on ways forward. Ajaero noted that it was resolved that the two centres work together to make their stance known to the government.
A source who was present at the meeting noted that some members of the NLC initially objected to the development of the NLC working together with the TUC.
“Initially some members did not want us to work with the TUC but as of now, we don’t have a choice. The government has not been proactive. So it is going to be a definite action this time around.”
The 21-day ultimatum given by the NLC ended last week. The national president of the NLC, Joe Ajaero had complained that “none of the demands put before the Federal Government had been addressed.”
The union first observed a two-day nationwide warning strike on September 5 and 6 to show its readiness for the indefinite strike later in the month.
Among other things, the NLC and the TUC are asking for wage awards, implementation of palliatives, tax exemptions and allowances to public sector workers and a review of the minimum wage.
President Bola Tinubu had on June 19 set up the Presidential Steering Committee and various sub-committees to discuss the framework to be adopted on the palliatives.
Though the FG made a commitment to restructure the framework for engagement with organised Labour on palliatives, the eight-week time-frame set for the conclusion of the process expired in August with no action taken.
The committees were given eight weeks to conclude their assignment and hasten the implementation of the framework in cushioning the effect of petrol subsidy removal on Nigerians but weeks after the timeframe expired, the sub-committees had yet to meet or actualise their mandates, leaving the NLC and TUC leadership frustrated.
Details later…
International
JUST IN: Nelson Mandela’s granddaughter, Zoleka, dies of cancer at 43

South African anti-apartheid struggle hero, Nelson Mandela’s granddaughter, Zoleka Mandela, has died of cancer aged 43, her family said on Tuesday.
Known for having detailed her long battle against the disease, the author was admitted into hospital on Monday as part of her ongoing treatment, a family spokesman said.
“Zoleka passed away… surrounded by friends and family,” said Zwelabo Mandela.
She was the child of Mandela’s youngest daughter, Zindzi Mandela, and her first husband, Zwelibanzi Hlongwane.
The family said recent scans revealed “significant” progress in the cancer that affected her hip, liver, lung, pelvis, brain and spinal cord.
“We mourn the loss of a beloved grandchild of Mum Winnie and Madiba,” the Nelson Mandela Foundation wrote on social media, using the name by which the Nobel Peace Prize laureate was fondly known.
“Her work in raising awareness about cancer prevention and her unwavering commitment to breaking down the stigma surrounding the disease will continue to inspire us all.”
AFP
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