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BREAKING: CBN Governor, Emefiele Suspended by Tinubu

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President Bola Tinubu has suspended Godwin Emefiele as the Central Bank of Nigeria (CBN) governor.

“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect,” the Director of Information, Office of the Secretary to the Government of the Federation Willie Bassey said in a Friday statement.

“This is a sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate) [Folashodun Adebisi Shonubi], who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.”

The development is coming less than two weeks after President Tinubu assumed office and months after the CBN’s heavily-criticized naira swap.

Former President Muhammadu Buhari’s government introduced new bank notes late last year, arguing it would help tackle vote-buying, insecurity and fight inflation among others.

But weeks before the polls, the country was hit with a cash crunch as the CBN withdrew the old notes. The development drew criticisms from top personalities.

Some state governors even took the matter to court with Tinubu faulting the implementation of the policy.

As the then-presidential candidate of the ruling All Progressives Congress (APC), Tinubu asked the CBN to allow both old and new notes to coexist.

Tinubu said, he was “only concerned about its disruptive implementation and the hardship it has brought on the generality of our people who currently can’t access their hard-earned money to meet obligations and the attendant consequences on the informal sector, where the majority operate”.

In the lead-up to the presidential election, his campaign team claimed the move was targeted at Tinubu.

During his inauguration, President Tinubu did not mince words about the naira swap policy and promised to review it.

He maintained that it “was too harshly applied by the CBN given the number of unbanked Nigerians.

“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender”.

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Reps move to reform military laws

Abbas urged stakeholders, including serving and retired military officers, civil society organisations, gender advocates, legal practitioners and members of the public, to actively participate in the legislative process.

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The House of Representatives has commenced move to reform military laws.

Speaking at a two-day public hearing organised by the House Committee on Defence in Abuja on Monday, Speaker of the House, Abbas Tajudeen, said that the proposed legislations were designed to address the country’s evolving security challenges and build a more resilient and effective military institution.

He said that the bills were in line with the legislative agenda of the 10th House of Representatives and reflected lawmakers’ commitment to reforming the nation’s defence sector.

He added that emerging threats such as maritime piracy in the Gulf of Guinea, cyber warfare and the growing nexus between organised crime and terrorism had further underscored the need for comprehensive reforms.

The Speaker said among the key bills under consideration are the Armed Forces Farms and Ranches Scheme Bill, which seeks to link food security initiatives with military operations, particularly in conflict-prone agricultural communities.

Others include the Gender Representation in the Armed Forces Bill, aimed at promoting inclusiveness in military recruitment and service; the Nigerian Military Force Bill, which seeks to repeal and replace the Armed Forces Act to align military administration with contemporary realities; and the Veterans’ Federation of Nigeria Bill, intended to improve the welfare of retired military personnel.

Abbas urged stakeholders, including serving and retired military officers, civil society organisations, gender advocates, legal practitioners and members of the public, to actively participate in the legislative process.

Earlier, Chairman of the House Committee on Defence, Hon. Babajimi Benson, described the hearing as a critical platform for citizens and stakeholders to contribute to shaping laws that would strengthen Nigeria’s defence and security framework.

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FG to launch digital address system to boost national security

Tijani disclosed this at the National Digital Alphanumeric Postcode System Workshop in Abuja, yesterday.

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The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, has said that a nationwide digital postcode system will be launched by the Federal Government in October, with several states expected to be covered before the end of the year.

Tijani disclosed this at the National Digital Alphanumeric Postcode System Workshop in Abuja, yesterday.

He explained that the initiative would assign a unique digital address to every building in Nigeria, including those in rural communities, enabling security agencies, businesses and public institutions to accurately identify and locate people and properties.

The minister said the project is a critical national infrastructure designed to address Nigeria’s long-standing challenge of lacking a reliable and standardised addressing system.

He noted that the absence of accurate addresses has hampered crime investigations, emergency response services and identity verification processes, while creating opportunities for fraud.

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FG to roll out 10,000 electric tricycles in August –Shettima

The President has approved the replication of the initiative in other parts of the country by the various regional development commissions.

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A visit by Transporters For Tinubu/Shettima 2027 at the State House

Vice President Kashim Shettima said has that the Federal Government would roll out 10,000 electric tricycles in August 2026 as part of a broader plan to ease public transportation and strengthen Nigeria’s logistics chain.

Shettima disclosed this during a visit by Transporters For Tinubu/Shettima 2027 at the State House, saying the tricycles would be distributed by the North East Development Commission (NEDC) for use across the North East and beyond.

He added that President Bola Tinubu had approved replicating the initiative through other regional development commissions nationwide.

The President has approved the replication of the initiative in other parts of the country by the various regional development commissions.

“This administration is determined to build a transport economy that lowers the cost of movement, reduces delays at ports, connects farms to markets, strengthens national productivity and gives transporters a more dignified place in the country’s development process,” he said.

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