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Emefiele Now In DSS Custody For Investigation

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The Department of State Services (DSS) has confirmed the arrest of suspended CBN Governor, Godwin Emefiele saying that he will be facing investigation.

The Public Relations Officer (PRO), Peter Afunanya, on Saturday confirmed the development saying:

“The Department of State Services (DSS) hereby confirms that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons,” it said.

“The public, particularly the Media, is enjoined to apply utmost caution in the reportage and narratives concerning this.”

The revelation comes hours after the DSS refuted reports that Emefiele was in its custody.

Amid reports of the arrest widely shared online, Afunanya said in a terse statement on Saturday morning, “Currently, Emefiele is not with the DSS.”

Acting CBN Governor Appointed
The Director of Information, Office of the Secretary to the Government of the Federation Willie Bassey in a statement on Friday, announced Emefiele’s suspension.

“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect. This is a sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy,” the statement said.

“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.”

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Sanwo-Olu hails Kolade-Otitoju on TVC’s appointment as News Director,

Kolade-Otitoju, … an award-winning journalist and seasoned media professional with over 30 years of experience in the sector, has what it takes to deliver effectively in his new assignment.

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The Governor of Lagos State, Babajide Sanwo-Olu, has congratulated renowned and award-winning journalist Babajide Kolade-Otitoju on his appointment as the Director of News at Television Continental (TVC).

He described it as deserving considering his experience, commitment, and long years of service in the media, particularly at TVC.

Governor Sanwo-Olu, in a statement issued on Friday by his Special Adviser on Media and Publicity, Gboyega Akosile, said Kolade-Otitoju, as an award-winning journalist and seasoned media professional with over 30 years of experience in the sector, has what it takes to deliver effectively in his new assignment.

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US stops Nigerians, others from applying for green card, citizenship

CBS News reported on Thursday that the directive was because of national security concerns and an ongoing review of immigration vetting processes.

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The Donald Trump’s administration has directed the US Citizenship and Immigration Services (USCIS) to suspend green card and citizenship applications filed by Nigerians and nationals of other countries newly added to the expanded US “travel ban.”

CBS News reported on Thursday that the directive was because of national security concerns and an ongoing review of immigration vetting processes.

This follows a proclamation signed by President Donald Trump on Tuesday, further restricting entry into the United States for nationals from countries deemed high-risk due to what it described as “demonstrated, persistent, and severe deficiencies in screening, vetting, and information-sharing” that threaten US national security and public safety.

Among the 15 additional countries newly subjected to partial restrictions is Nigeria.

Trump had earlier, on October 31, declared Nigeria a “country of particular concern” following allegations of a Christian genocide in the country.

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Tinubu’s 2026 Budget: Discipline as Doctrine, Bold Security Stance, Defense as Top Priority

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By SUNDAY DARE

In a landmark address to a joint session of the National Assembly on December 19, President Bola Ahmed Tinubu presented the 2026 Appropriation Bill, titled the “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”

The ₦58.18 trillion proposal marks a pivotal shift in Nigeria’s fiscal strategy, emphasizing strict fiscal discipline, decisive action against insecurity, and a clear prioritization of national defense amid ongoing economic reforms.

Analysts describe the speech as a doctrinal reset for governance, where discipline emerges as the core doctrine, boldness serves as a political and policy signal, and security stands as the unchallenged foundation of the administration’s agenda.

Discipline As Doctrine: A Commitment to Fiscal RigorPresident Tinubu underscored that “the greatest budget is not the one we announce—it is the one we deliver.”

He pledged 2026 as a year of “stronger discipline in budget execution,” directing ministries, departments, and agencies (MDAs) to eliminate leakages through full digitization of revenue processes and strict adherence to timelines.

This doctrine extends to Government-Owned Enterprises (GOEs), with warnings against underperformance and inefficiencies. Revenue mobilization will prioritize transparency and compliance, particularly in the oil and gas sector.

The budget’s realistic parameters—crude oil benchmark at $64.85 per barrel, production at 1.84 million barrels per day, and exchange rate at ₦1,400 to the dollar—reflect prudence amid global uncertainties.

With a projected deficit of ₦23.85 trillion (4.28% of GDP), recurrent non-debt expenditure at ₦15.25 trillion, and capital expenditure at ₦26.08 trillion, the administration signals an end to wasteful spending.

As Tinubu stated, “We will spend with purpose, manage debt with discipline.”

Boldness As Signal: Tough Stance on Security and AccountabilityThe speech’s boldest element was a new security doctrine: any armed group operating outside state authority—bandits, kidnappers, militias, or violent cults—will be designated as terrorists, along with their sponsors, including politicians, traditional rulers, or community leaders who facilitate violence.

This declaration removes ambiguity and ethnic cover from non-state actors, signaling zero tolerance for insecurity that has hampered investment and agriculture. It sends a clear message of accountability, narrowing discretion for security forces while widening consequences for enablers.

Boldness also shines in fiscal demands on GOEs and MDAs, with threats of consequences for revenue shortfalls.

Tinubu’s assurance that reforms are yielding results—GDP growth at 3.98% in Q3 2025, inflation down to 14.45% in November, and external reserves at a 7-year high of $47 billion—bolsters confidence in these tough measures.

Security As Core: Highest Allocation Reflects PrioritySecurity received the largest sectoral allocation at ₦5.41 trillion, underscoring its role as the bedrock of development. Tinubu described it as “the foundation of development,” linking it to infrastructure (₦3.56 trillion), education (₦3.52 trillion), and health (₦2.48 trillion).

The budget strengthens military and paramilitary capabilities, peacebuilding, and a “holistic reset” of the security architecture. Without security, the President argued, investment, productivity, and human capital development cannot thrive.Other priorities include human capital (expanding student loans and healthcare access) and agriculture (mechanization, irrigation, and value chains to reduce post-harvest losses).

As the National Assembly begins scrutiny of the bill, President Tinubu’s speech positions the 2026 budget not merely as a fiscal document, but as a governance blueprint for a more accountable, secure, and prosperous Nigeria.

The emphasis on delivery over announcement sets a high bar for implementation in the year ahead.

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