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CBN Governor Finally Appears Before Reps Over New Naira

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Nigeria’s Central Bank Governor, Godwin Emefiele, has appeared before the House of Representatives after being summoned to address the issue with the recent naira note redesign and exchange.

Emefiele is meeting with the ad hoc committee established by the House, led by Majority Leader Alhassan Ado-Doguwa, to investigate the crisis.

Speaker of the House, Femi Gbajabiamila, had threatened to arrest Emefiele for failing to attend 4 previous summons. The House postponed its break for the presidential and National Assembly elections, set to start Thursday, due to Emefiele’s failure to appear before the committee.

Speaker Gbajabiamila threatened to instruct the Inspector-General of Police, Usman Baba, to arrest Emefiele and bring him before the panel. Gbajabiamila maintained that Emefiele’s missed deadline violated Section 20(3) of the CBN Act.

The Speaker partly said, “I have no choice now. On Tuesday when we resume, we will invoke the provisions of Section 89 of the Constitution .The President has been very clear. The President gave the approval based on what he knows and what he has been told.

“We also know the President to be a man of the people. He gave his approval based on what he had been told. But we are saying – what the motion is saying – is that after the President gave his approval, how does the money get to the people? The money is not getting to the people. That is what we sought to clarify and that is exactly what we are going to do.

“So, on Tuesday, this House will follow its procedure – the normal procedure – and invoke the provisions of Section 89 to compel the governor of the CBN and the directors.”

Deputy Speaker Ahmed Wase called on the House to allow its leadership to meet with President Buhari and discuss the controversial implementation of the policy. Speaker Gbajabiamila agreed to this request.

Despite the CBN extending the deadline for exchanging old N1,000, N500, and N200 notes by 10 days to Feb 10 and giving commercial banks an additional 7 days to accept the notes, the House still insisted on Emefiele’s appearance.

In a statement, Ado-Doguwa, titled “Old Naira Notes: House Committee Rejects CBN Extension, Says Position of Law sacrosanct, Must be Respected,” insisted that the Central Bank must abide by Sections 20(3), (4), and (5) of the CBN Act.

“Nigeria, as a developing economy and a nascent democracy, must respect the principles of the rule of law. And the House would go ahead to sign the arrest warrant to compel the CBN governor to appear before the ad hoc committee,” the Majority Leader stated.

Despite previously failing to answer summons 4 times in 2 months, Emefiele led the CBN leadership to appear before the lawmakers on Tuesday.

 

 

 

 

 

 

 

 

 

 

 

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‘I Dress To Inspire Young People’ – Pastor Adegboyega Defends Lavish Lifestyle

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Embattled Nigerian pastor and founder of SPAC Nation, Tobi Adegboyega, has defended his opulent lifestyle, claiming it serves to inspire young people rather than flaunt wealth.

This statement comes amid a UK Immigration Upper Tribunal ruling ordering his deportation over visa violations.

Adegboyega, 44, faced accusations of overstaying his visitor visa, which expired after he arrived in the UK in 2005.

Related News: Nigerian Pastor, Adegboyega Faces Deportation From UK Over £1.87m Fraud Allegations

He had applied to remain in the country on human rights grounds. The tribunal, however, ruled against him, citing his failure to regularize his status.

The pastor’s luxurious lifestyle, including designer clothing and expensive cars, was a focal point of the case.

Addressing the tribunal, Adegboyega stated that his lifestyle is fully funded by his wife, Mary Olubukola Alade, who earns £100,000 annually at AON.

He said, “I live with my partner, Mary Olubukola Alade, who earns £100,000 per year working for AON. I spend my time working for the church, for which I am unpaid. I am entirely supported by Mary. I have a first-class law degree from Nigeria, but I have ‘sacrificed’ my legal career to help those who cannot help themselves.”

Defending his appearance, Adegboyega emphasized the importance of projecting success to his young congregation.

The court noted, “For instance, people have pointed to the fact that he wears designer clothing and drives expensive cars. He was adamant that all of his personal possessions had been paid for by Mary.

“He believes it is important for him to dress the way that he does because he needs to inspire these young people – they need to understand that there are legitimate ways of making money, for instance through entrepreneurship.”

Despite the ruling, Adegboyega dismissed the deportation concerns as insignificant.

“I’m right here at home, no cause for alarm. Naturally, I will dismiss things that have to do with retrogression; every Nigerian should be proud of me. Living in the UK, a city that is well known for pulling people down, I have survived all sorts, so the matter that they are propagating is the smallest matter,” he said.

He further expressed confidence in his resilience. “No panic, I love London city, it is my city, and nobody can do anything. Of all the people of colour you know here – pastors and leaders – I have survived everything. I’m here, I am at home, nobody should panic for me.

“I succeeded well in this country despite all challenges, and I’m in the league of people you look up to. I have survived that well; nothing has changed, nothing will change,” he added.

 

 

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Afe Babalola Breaks Silence On Farotimi’s Arrest

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Amid the growing controversy surrounding the detention of human rights lawyer Dele Farotimi, renowned Senior Advocate of Nigeria (SAN) Aare Afe Babalola has publicly addressed the defamation allegations leveled against Farotimi.

The legal action stems from claims made in Farotimi’s book, Nigeria and Its Criminal Justice System, which Babalola asserts contains false and defamatory statements about him and his law firm, Afe Babalola & Co.

READ MORE: FCT Workers Reject January 2025 Minimum Wage Implementation Proposal

In a petition dated November 19 and submitted to the Ekiti State Commissioner of Police, Adeniran Akinwale, Babalola accused Farotimi of making “criminally defamatory” statements about him, his law firm, and two senior lawyers at his firm, Olu Daramola SAN and Ola Faro.

The defamatory remarks are tied to the Supreme Court case Major Muritala Gbadamosi Eletu & Ors v. H.R.H. Oba Tijani Akinloye & Ors.

Babalola revealed that the allegations came to light when one of his lawyers purchased Farotimi’s book while traveling through Murtala Muhammed Airport.

After reading the book, the lawyer immediately brought its contents to Babalola’s attention.

Other members of his firm reportedly did the same, prompting the senior lawyer to take legal action.

In his petition, Babalola pointed to specific passages in Farotimi’s book that accused him of corruption and unethical conduct. The petition reads:

“I write to report the criminal defamation of myself, my law firm Afe Babalola & Co., and my lawyers, Olu Daramola SAN and Ola Faro, by one Dele Farotimi in his book titled ‘Nigeria and Its Criminal Justice System’, published by Dele Farotimi Publishers, in respect of Suit No. SC/146/2005: Major Muritala Gbadamosi Eletu & Ors v. H.R.H. Oba Tijani Akinloye & Ors.

“Sometime on 2/11/2024, one of our lawyers, while traveling through Murtala Muhammed Airport, bought a book by Dele Farotimi titled ‘Nigeria and Its Criminal Justice System’. He read the book and immediately brought it to my attention. Many of my lawyers also bought the book and read it.”

“The defamatory statements are as follows:

  • That Aare Afe Babalola corrupted the Supreme Court to procure a fraudulent judgment in the service of his client.
  • That Aare Afe Babalola, Olu Daramola, Olu Faro, and the law offices of Afe Babalola & Co. (Emmanuel Chambers) compromised the Supreme Court and the remaining semblance of integrity it might have had, when they went back to the Supreme Court and got the Court to swim in the sewer of corruption and shameful self-abnegation.”

Babalola strongly denies the allegations, claiming that they are false and damaging to both his personal reputation and the integrity of the Nigerian judiciary.

 

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Dele Farotimi’s Book Becomes Amazon Bestseller Amid Defamation Saga

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Nigerian author and activist Dele Farotimi’s book, Nigeria and Its Criminal Justice System, has surged to bestseller status on Amazon amid a legal battle with prominent lawyer and businessman, Afe Babalola.

The controversy surrounding the book has captivated public attention, driving both online and offline demand.

The book, which critiques systemic corruption in Nigeria’s judiciary and highlights alleged misconduct by key legal figures, saw modest sales following its release in July 2024.

Related News: NBA Demands Release Of Dele Farotimi, Condemns Police Actions

However, Farotimi’s arrest on Tuesday, following a petition filed by the 93-year-old Babalola, triggered a wave of public curiosity.

By Thursday evening, it had climbed to the top of Amazon’s bestseller rankings, according to checks by Vanguard. Bookstores across Nigeria also reported a significant uptick in demand.

Biztellers reports that Farotimi was detained in Lagos by armed police officers and transported to Ado Ekiti, about 300 kilometers northeast of the city, where Babalola is based.

The senior lawyer alleged that the book accused him of compromising Nigeria’s judiciary—a claim that has sparked heated debates about freedom of speech and accountability in the legal profession.

On Wednesday, Farotimi was arraigned in an Ekiti court, where the judge ordered his remand pending a bail hearing scheduled for December 10.

Farotimi’s legal team has vowed to contest the charges, framing the case as an attack on intellectual freedom.

 

 

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