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JUST IN: SSS Arrests CBN Deputy Governor, Kingsley Obiora

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Kingsley Obiora, the Deputy Governor of the Central Bank of Nigeria overseeing economic policy, has been apprehended by the State Security Service.

 

He has been held in custody for four nights while undergoing questioning as part of an investigation into financial mismanagement allegations during the tenure of the former Governor, Godwin Emefiele.

 

Mr. Emefiele, who assumed the role of CBN governor in June 2014, has been in SSS custody since June 10, 2023, following his contentious removal from office by President Bola Tinubu.

 

Despite two federal judges ordering Mr. Emefiele’s release, the State Security Service (SSS) has persisted in detaining him by introducing new charges that supersede earlier ones.

 

This legal maneuvering has kept the former top banker in custody.

 

A source familiar with Mr. Obiora’s arrest has suggested that he might be targeted as a principal witness against his former boss, although additional sources have been contacted by The Gazette to verify this claim.

 

Furthermore, another high-ranking official at the Central Bank of Nigeria, Abbas Masanawa, was recently arrested and remains in custody as authorities continue their investigations into allegations of corruption involving Mr. Emefiele.

 

The Gazette’s attempts to obtain information from the State Security Service (SSS) and the Central Bank of Nigeria (CBN) regarding Mr. Obiora’s detention were met with delays, which officials suggest may not be entirely unexpected due to his in-depth knowledge of CBN’s policy decisions.

 

Born on March 6, 1976, Mr. Obiora previously held the position of policy chief at the International Monetary Fund and served as an advisor to former Finance Minister Ngozi Okonjo-Iweala.

 

He also acted as an advisor to Mr. Emefiele until March 2, 2020, when he assumed his current role as one of CBN’s four deputy governors.

 

 

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‘Where Is the President?’ — Peter Obi Questions Tinubu’s Prolonged Absence

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Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has questioned President Bola Tinubu’s prolonged absence from Nigeria, saying Nigerians deserve to know the President’s whereabouts amid the country’s security challenges.

Obi made the remarks on Arise TV on Thursday while discussing the President’s absence from the country and the situation surrounding other senior government officials.

According to Obi, the issue was not simply that Tinubu was outside Nigeria, but that he had remained abroad beyond the period initially announced for his trip.

ALSO READ: ‘Borrowed Funds Not Spent Cannot Be Counted as Debt Left Behind’ -Peter Obi

“It’s not just that he’s out of the country. He’s out of the country beyond the days he was supposed to be. Beyond the days they even said he was going for,” Obi said.

He also noted that Vice-President Kashim Shettima was outside the country, while Senate President Godswill Akpabio was also reportedly abroad and the Senate was not in session.

“The Vice President is not in the country. And I understand the Senate President is out of the country, the Senate is not in session,” he said.

Obi expressed concern about the situation against the backdrop of insecurity and recent incidents involving the deaths of suspected illegal miners in Niger State.

“We don’t need this level of rascality at this moment in time, when Nigerians are being kidnapped, being killed, things are… we need a country where we have somebody, where we have competence, capacity, and compassion,” he said.

Referring to the deaths recorded in Niger State, Obi said the presence of the country’s chief executive was particularly important during a crisis.

“Look at Niger State now, where 10 people… where some young people have died for nothing,” he said.

The former Anambra State governor argued that while there is a chain of command within government, delegation should not replace the physical presence of the country’s leader during critical situations.

“It is… the CEO being present is critical at a time of crisis. Not delegation. Yes, you have a chain of command,” Obi said.

He subsequently asked where the President was and insisted that Nigerians should be informed.

“Where is the President? Nigerians ought to know,” he said.

Obi also said that, if elected president in 2027, he would make his whereabouts publicly known whenever he travelled.

“If I travel today, I tell people where I am. When I become President, Charles, people will know where I am 24 hours,” he said

“That is public space, public office,” Obi added.

The comments come amid continuing public debate over the absence of the President and Vice-President from Nigeria.

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‘Borrowed Funds Not Spent Cannot Be Counted as Debt Left Behind’ – Peter Obi

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The presidential candidate of the Nigeria Democratic Congress (NDC) for the 2027 election, Peter Obi, has challenged the way government borrowing is accounted for, arguing that funds borrowed but not actually drawn down should not be treated as debt left behind by an administration.

Obi made the remarks during an interview on Arise TV on Thursday while explaining his position on borrowing during his tenure as governor of Anambra State.

“That is a wrong public accounting. Even if I had gone to bank and borrowed money, but I did not spend the money, you cannot call it debt I left,” Obi said.

RELATED NEWS: 2027: Obi Wants to Transform Nigeria After 8 Years of Failure in Anambra — Onanuga

He illustrated his argument with a hypothetical ₦10 billion loan facility, saying that where only ₦500 million was actually drawn, it would be inaccurate to describe the entire ₦10 billion as money owed.

“They gave me a loan of 10 billion Naira, and Charles, I only drew down 500 million. You cannot say I’m owing 10 billion, because you know the amount,” he said.

The NDC candidate said such a practice would amount to improper public-sector accounting.

“That’s why I said it is not proper public sector accounting,” Obi said.

He also cited the former Director-General of the Debt Management Office, Abraham Nwankwo, whom he said served for 10 years, in support of his claim about his borrowing record as Anambra governor.

Obi recalled that Nwankwo invited him to his send-off ceremony and publicly explained why he had selected Obi as chairman of the event.

“He announced it to everybody in that party that the reason why he made me chairman is because I was the only governor in Nigeria who never came to his office for approval to borrow money,” Obi said.

Anambra Debt Controversy

Obi’s comments come against the backdrop of continuing debate over the debt profile he left behind after serving as Anambra State governor from 2006 to 2013.

The former governor has consistently defended his administration’s financial record, while figures and claims about Anambra’s debt during and after his tenure have generated public debate.

 

 

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Kainji–Birnin Kebbi Power Line: TCN Begins Final Phase of Restoration

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The Transmission Company of Nigeria (TCN) has commenced the final phase of restoration works on the 330kV Kainji–Birnin Kebbi Transmission Line following the recent collapse of Tower T367 along the line corridor.

TCN, in an update issued on Wednesday, said significant progress had been recorded at the affected location in Yauri, where restoration activities are ongoing.

ALSO READ: TCN Restores 330kV Shiroro–Mando Line, Strengthens Power Supply to Kaduna

According to the company, the collapsed transmission tower has now been completely dismantled and decommissioned, while the conductors and skywire have been properly aligned and prepared for the next stage of the restoration process.

TCN also disclosed that an Emergency Restoration System (ERS) tower has been moved to the site and is ready for installation.

The company said the installation would be followed by cable stringing and other associated works towards the restoration of the affected transmission line.

“Our engineers and technical personnel remain actively engaged at the site and are working hard to ensure a quick completion and restoration of the line.”

TCN said it remained committed to restoring normal bulk transmission as soon as possible and appealed to electricity consumers and other stakeholders affected by the incident for patience and understanding.

“TCN appreciates the patience and understanding of electricity consumers and other stakeholders affected by the incident and assures the public that every effort is being made to restore the line and consequently, normal bulk transmission as soon as possible.”

 

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