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Central Bank Urges Nigerians to Disregard Report on Banking Sector Crisis

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Nigeria’s banking industry is still robust, safe, and stable, the Central Bank of Nigeria (CBN) has reassured the public.
Hakama Sidi-Ali, the apex bank’s acting director of corporate communications, issued a statement in which it denied recent social media rumors regarding a regulated financial company.
Sidi-Ali emphasized that all banks subject to regulation, including the one listed in the reports, adhere to stringent guidelines that guarantee the security of depositor money.

She stated, “The CBN wants to firmly reassure the public, depositors, and stakeholders that the Nigerian banking industry is still strong, secure, and sound.”

The apex bank reiterated its dedication to ongoing supervision of financial institutions by implementing stringent procedures intended to identify warning indicators and efficiently manage risks.

Read Also: NiDCOM Saves Nigerian Actress’s Daughter From Human Trafficking to Mali

“To preserve the integrity of the financial system, these mechanisms guarantee that any new issues are promptly addressed,” she continued.

For updates on the financial sector, the CBN advised the public to only trust official sources and to disregard sensational or unconfirmed information.

Sidi-Ali emphasized the CBN’s commitment to upholding a safe banking environment in her closing remarks, giving depositors complete assurance that their money will be protected.

“To protect the financial interests of all Nigerians and stakeholders, the CBN will keep an eye on things and keep improving its strategies,” she stated.

NiDCOM Saves Nigerian Actress’s Daughter From Human Trafficking to Mali

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Four years ago, Adeola, the daughter of legendary Yoruba actress Jumoke George, was trafficked to Mali for prostitution. She was saved by the Nigerians in Diaspora Commission (NiDCOM).

Adeola, 41, was declared missing by her family after she left her home in Ibadan to Lagos without telling anybody, according to Commission Chairman Abike Dabiri-Erewa, who shared on X (previously Twitter) Monday that she and other victims had been successfully rescued.

Breaking! The well-known actress Jumoke George’s daughter, Adeola, has returned home from Mali, where she was trafficked, after having not heard from her for four years.

Together with Niyi Johnson and Biola Adebayo, who broke the story, I just got her. Details will be provided later.

Read Also: APC to Be Served in N10 Million Nomination Refund Case, Court Rules

The ill actress bemoaned her misfortunes in a video, including homelessness, terrible health, crippling debt, and the unexplained loss of her child. This paved the way for Adeola’s rescue.

Another Nollywood actress, Abiola Ayomide Adebayo, posted a video in which George begged Nigerians to pray for her, provide financial support, and help her find her daughter, who had gone missing.

“I don’t sleep. I’m hurting all the time. I have debt. You are able to view the transactions on my phone. I have a lot of debt, you see,” she had screamed.

APC to Be Served in N10 Million Nomination Refund Case, Court Rules

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A hearing notice has been legally sent to the All Progressives Congress (APC) by a High Court in Maitama, Abuja, after the party did to show up for court hearings pertaining to a refund claim filed by one of its former candidates.
Sunny Moniedafe, the plaintiff and former candidate for APC Deputy National Chairman (North), is requesting the reimbursement of ₦10 million that he spent for a nomination form before to the party’s national convention in 2022. The case is filed under the number FCT/HC/CV/2434/2024.
He bought the form in advance of the APC National Convention on March 26, 2022, Moniedafe recalled.

He did note, however, that the party leadership, under by then-President Muhammadu Buhari, demanded a unanimous choice that a candidate from Borno State, in the North-East region, be given the job.
With guarantees that those who agreed would receive reimbursement, he added, all other candidates were told to withdraw.

He claims that “despite my repeated demands, the defendant’s leadership blatantly refused, failed, and neglected to refund the said ₦10 million from March 2022 to the time of filing this case, thereby reneging on its promise.”

Both Moniedafe and his attorney, Okoi Obono-Obla, were present during the session on Monday. But no one, not even through legal representation, showed up on behalf of the APC.

The party’s absence raised concerns, according to Justice Yusuf Halilu, who is overseeing the case. “The accused is not present in court and is not being represented,” the judge said.

Despite a defense submission already in front of the court, he also pointed out that there was no proof of service. “There is no evidence of service here,” Justice Halilu stated, directing the registrar to act quickly by informing APC’s legal representative and making sure they receive any pertinent court records.

Read Also: Nigeria’s Democracy Flawed – Agbakoba Urges Move Away from Western Framework

“We are very diligent, my lord,” Obono-Obla replied. If we are served, we will react right away.

A motion submitted by the APC asking for additional time to reply was also taken into consideration by the judge. “The defendant’s application for a time extension is hereby moved and granted,” Justice Halilu declared.

In order to hear more evidence regarding whether the APC was properly served with the hearing notice, he subsequently postponed the case until July 15, 2025.

Nigeria’s Democracy Flawed – Agbakoba Urges Move Away from Western Framework

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Senior Advocate of Nigeria (SAN) Olisa Agbakoba has once again expressed doubts about the sustainability of Nigeria’s current democratic system and called for a comprehensive overhaul of the country’s political structure.

Agbakoba bemoaned the dissolution of opposition formations into the ruling All Progressives Congress (APC) in an interview with Channels Television’s Politics Today on Monday. He cautioned that such political realignments undermine democracy rather than bolster it.

Agbakoba reflected on Nigeria’s political trajectory after independence, stating that despite having exercised democracy for more than 20 years, the nation has repeatedly failed at administration.

“By now, I assumed things would have improved. “But something is still fundamentally wrong after all these years, from 1960 through military coups and 25 years of democracy,” he remarked.

Agbakoba questioned whether Nigeria’s sociopolitical environment was a good fit for the Western democratic paradigm. Since Nigerians are more focused on their quality of life than on the system of government, he claims that democracy as it has been introduced from Europe and America has not produced the anticipated benefits.

Read Also: NASS Inserted 11,122 Projects Worth N6.93 Trillion in 2025 Budget – BudgIt

He clarified that Nigerians aren’t very curious in the president’s identity. They want someone who would supply them with food, adequate houses, safe roads, good schools, and prompt salaries. The true problems are those.

Agbakoba compared nations like China, who have achieved great progress without embracing Western-style democracy, and asked both leaders and public to think about a governance model that puts outcomes ahead of political niceties.

He stressed that linguistic, religious, and ethnic differences that are deeply ingrained in Nigeria make the country’s problems worse. “We need to ask ourselves a challenging but important question: is this system really working for us?”

Agbakoba made these comments at a time when a number of opposition party politicians have switched to the APC. Fearing that this trend threatens democratic checks and balances, the previous president of the Nigerian Bar Association voiced his concerns.

“I’m here to let opposition parties know that defecting isn’t a strategic move if they think so. Ordinary Nigerians suffer, and the system is weakened. Standing in the gap, even when it isn’t politically advantageous, is the real test of a leader.

As a necessary component of any working democracy, he urged moral leaders to eschew the allure of power and instead work to create a strong, credible opposition that keeps the government responsible.

NASS Inserted 11,122 Projects Worth N6.93 Trillion in 2025 Budget – BudgIt

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BudgIT Nigeria, a non-governmental civic and transparency organization, claims that the 10th National Assembly (NASS) included 11,122 projects costing ₦6.93 trillion in its 2025 budget.
BudgIT found that 238 projects worth more than ₦5 billion each, totaling N2.29 trillion, were placed with no rationale.
BudgIT identified 984 projects worth ₦1.71 trillion and 1,119 projects ranging from ₦500 million to ₦1 billion, totaling ₦641.38 billion.

According to a report issued on Tuesday, 3,573 projects worth ₦653.19 billion were allotted to federal constituencies and 1,972 projects worth ₦444.04 billion to senatorial districts.
“Some of the most glaring anomalies include: 1,477 streetlight projects worth ₦393.29 billion, 538 boreholes totalling ₦114.53 billion, 2,122 ICT projects valued at ₦505.79 billion and ₦6.74 billion earmarked for ’empowerment of traditional rulers’,” the statement stated.

According to the study, 4,371 projects worth ₦1.72 trillion were squeezed into the Ministry of Agriculture’s budget, resulting in a capital allocation of ₦1.95 trillion from ₦242.5 billion.

The Ministries of Science and Technology and Budget and Economic Planning received inflated appropriations of ₦994.98 billion and ₦1.1 trillion, respectively, through insertions.

“Even more alarming is the purposeful use of entities such as the Nigerian Building and Road Research Institute (Lagos) and the Federal Cooperative College, Oji River, as dump sites for politically motivated projects.

“These agencies lack the technical capacity to carry out such projects, resulting in widespread underperformance and waste.”

“For example, the Federal Cooperative College, Oji River—a training institution—was saddled with: ₦3 billion for utility vehicles to support farmers and distribution agents, ₦1.5 billion for rural electrification in Rivers State, ₦1 billion for solar streetlights in Enugu,” the statement reads.

Read Also: Joe Igbokwe Labels Atiku’s Labour Party Pact an Act of Desperation

BudgIT urged President Bola Tinubu to strengthen executive leadership and restructure the budgeting process to ensure alignment with the Medium-Term National Development Plan (2021-2025) and other national priorities.

“We urge the Attorney General of the Federation and Minister of Justice to seek a constitutional interpretation from the Supreme Court regarding the extent of the National Assembly’s appropriation powers, particularly the authority to introduce new capital projects without Executive concurrence.”

“We hope that the anti-corruption agencies, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), will also take action to track these projects and ensure Nigeria receives value for money.”

“We also urge individuals, the media, civil society organisations, and the development community to speak up and demand reform. This is more than just financial malfeasance; it is about justice, equity, and Nigeria’s future of accountable governance,” it added.

Joe Igbokwe Labels Atiku’s Labour Party Pact an Act of Desperation

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Before the 2027 elections, Joe Igbokwe, a leader of the All Progressives Congress (APC), has denied rumors that former vice president Atiku Abubakar and former Labour Party presidential candidate Peter Obi are aligned.
According to earlier reports, Atiku offered Obi the position of vice presidential, and Obi accepted.
Igbokwe responded on Monday by stating on Facebook that the alignment will not work and that it will not be able to sell.

The deal, he derided, was primitive and childish. It was just an act of desperation, Igbokwe claimed.

“Alhaji Atiku Abubakar’s childish and primitive deal with the Labour Party is laughable and kindergarten,” he expressed.

Read Also: Peter Obi Declares Stand Against Bad Governance Ahead of 2027, Breaks Silence on Atiku Deal

That’s a desperate move. It can’t sell and it can’t fly.

Igbokwe has asserted that the increase in food commodity prices is the result of Nigerian traders.

In a Saturday Facebook post, Igbokwe asserted that traders are too avaricious to let prices fall.

According to the political analyst, food prices are statistically declining, but because of traders’ malice, this hasn’t been reflected in market prices.

Igbokwe bemoaned the fact that Nigerians are their own worst enemies.

He added, “Nigerians will not help Nigerians, even though food and commodity prices are declining.”

“Our avaricious tendencies, avarice, and depravity have no part two. The worst adversaries we have are ourselves. Nigerians steal things they don’t require.

Peter Obi Declares Stand Against Bad Governance Ahead of 2027, Breaks Silence on Atiku Deal

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Peter Obi, the Labour Party’s (LP) 2023 presidential candidate, has stated that his participation in the alliance in advance of the 2027 elections is centered on the battle against poverty, hunger, and poor governance.
Peter Obi stated this in response to a query about rumors that he had reached a one-term agreement with Atiku Abubakar, the Peoples Democratic Party’s (PDP) 2023 presidential nominee, to become his vice president in the 2027 elections.

Punch was informed by several sources that the proposition was presented at a meeting between Atiku and Obi in the UK earlier this year.
According to the insiders, Obi has accepted to be the former vice president’s running partner, and Atiku has pledged to serve a single four-year term.

According to a party chieftain, Atiku and Obi have reached a consensus and are currently consulting their supporters.

Read Also: Lagos Begins Implementation of Single-Use Plastics Ban July 1

Speaking on Monday at a gathering in Kubwa for a donation to an Anglican Church-organized school and hospital project, Peter Obi did not, however, confirm or deny making a pact with Atiku.

Peter Obi reaffirmed his dedication to the coalition’s goal.

“You can interpret the report however you like, but I am part of a coalition that fights poverty, hunger, and poor governance,” he stated.

Lagos Begins Implementation of Single-Use Plastics Ban July 1

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On July 1, the Lagos State administration will fully implement the ban on single-use plastics.

Tokunbo Wahab, the state’s environment commissioner, revealed this in a statement posted on X on Monday.

He claimed that throughout the previous 18 months, the state administration had enlisted the help of goods manufacturers and marketers.

Read Also: IPOB Rejects Alleged Link to Simon Ekpa, Responds to DSS Claims

In January 2024, the state government outlawed the use of single-use plastics and Styrofoam containers throughout the entire state.
During a courtesy visit by TETRA PAK West Africa Limited management, headed by Managing Director Haithem Debbiche, we reiterated our stance, Wahab stated.

This relates to environmental stewardship. Additionally, we have given ourselves plenty of time to conform to international best practices. In Lagos, what is undesirable elsewhere cannot become the norm. For the sake of the greater good, we must act morally and safeguard our future.

Read Also: IPOB Rejects Alleged Link to Simon Ekpa, Responds to DSS Claims

“Scoring points is not our purpose. We’re here to get the job done. We will insist on accountability and responsibility, just as we did with the effective implementation of the styrofoam ban. If we all do our part, we can create a cleaner, healthier Lagos.

IPOB Rejects Alleged Link to Simon Ekpa, Responds to DSS Claims

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On Monday, the Department of State Services (DSS) received a warning from the Indigenous People of Biafra (IPOB) to distance itself from Simon Ekpa, the self-declared prime minister of the Biafra Republic Government in Exile (BRGIE).

Ekpa is not a member of IPOB, the group said in a statement released by its Media and Publicity Secretary, Emma Powerful, because it has nothing to do with him and his rebellious organization, IPOB-Auto-Pilot.

According to Powerful, the DSS and the Nigerian government’s attempts to associate Ekpa with its leader, Nnamdi Kanu, are dishonest and pernicious.

It is important to note that Ekpa, who is being prosecuted for terrorism in Finland, does not represent Kanu or IPOB and should not be considered a member of either organization.

“IPOB, under the esteemed leadership of Mazi Nnamdi Kanu, hereby issues this urgent statement in response to the latest round of shameful and desperate media propaganda being pushed by the Nigerian Department of State Services (DSS) and their enablers in the compromised press,” the statement read.

Their plan this time revolves around the debunked and rehashed story of a Finnish content creator named Simon Ekpa, who has repeatedly declared in public that he is not an IPOB member.

The DSS is currently making an unsuccessful attempt to mislead the public and divert attention from the illegality and futility of their case against Mazi Nnamdi Kanu by seeking to falsely link him to IPOB and our leader.

“Let me state this clearly: Simon Ekpa is not an IPOB member. He is not an IPOB spokesperson, an IPOB representative, or an agent of our movement.

All attempts to associate him with Mazi Nnamdi Kanu or the IPOB family are spiteful, dishonest, and deceptive. This latest media gimmick is just the latest in a well-funded psychological manipulation campaign to preserve the DSS’s crumbling narrative.

Read Also: APC Criticizes Gov Lawal for Insecurity, Unfulfilled Commitments

Their kangaroo case against our leader is failing in court, and they have now turned to sensationalism and low-level media manipulation after failing to link IPOB to their unlawful and savage military actions in the South-East.

“We are also aware of the shameful poster campaign that is being used in Abuja to damage our leader’s reputation. The characteristics of a dictatorship that is avoiding the truth are these acts.

Additionally, they represent a last-ditch effort to divert attention from the incriminating evidence—some of which have been caught on camera—of the systematic mistreatment, illegal detentions, and abuses of human rights perpetrated by DSS agents against Mazi Nnamdi Kanu. These horrors will soon be made public in court.

“Make the world aware that IPOB is a well-organized, legal, and internationally acclaimed self-determination movement. Our objective is still based on international law and is peaceful. No amount of propaganda or recycled lies can alter this reality.

The illegal detention and extraordinary rendition of Mazi Nnamdi Kanu, as well as the Nigerian state’s ongoing disregard for both domestic and international court rulings, are the true issues, and we implore the Nigerian people and the international community to see through this deliberate disinformation campaign.

“The DSS has to put an end to these juvenile shenanigans and get ready to deal with the legal repercussions of their behavior. Powerful emphasized, “Justice will win, and history will document their shame.”

APC Criticizes Gov Lawal for Insecurity, Unfulfilled Commitments

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Zamfara State’s ongoing insecurity has drawn criticism from the All Progressives Congress (APC), Zamfara State branch.
According to Yusuf Idris, the party’s spokesperson, the state’s insecurity situation has gotten worse under Lawal’s leadership.
Their accusation was that the governor had not fulfilled his campaign pledge to put an end to banditry within three months of takeover.

As armed groups continued to target civilians, Idris contended that Lawal was failing to fulfill his responsibilities.

In anticipation of the 2023 elections, Governor Lawal must be getting ready to commemorate his second year anniversary by breaking a pledge he made during his campaigns for governor, according to Idris.

He chastised the governor for what he described as a careless demeanor, asserting that Lawal frequently left the state during times of emergency rather than exercising empathy and leadership.

Idris further disputed the governor’s assertions that state hospitals provide free medical care to banditry victims, stating that many don’t receive treatment because of financial constraints.

He claimed, “I went to Yariman Bakura Specialist Hospital in Gusau and saw firsthand how victims were turned away because they were unable to pay.”

The APC’s accusations were deemed “baseless and unfounded” by Mustafa Kaura, the Special Assistant to the Governor on Media and Communications, in response to the charges.

He backed the security strategy of Governor Lawal, stating that great strides had been made since the current administration took office.

Governor Dauda Lawal is fighting banditry with extraordinary success, as everyone knows.

Read Also: Fani-Kayode Reacts to Zamfara Crisis: 35 Killed, 223 Abducted

“Many communities were almost abandoned when Governor Matawalle was in office. Kaura stated, “People are going back to their communities today.”

As crucial components in lowering the scope of attacks, he cited recent measures including the hiring of civilian protection guards and more financing for security operations.

Additionally, Kaura reminded the APC that Bello Matawalle, the former state governor and current minister of defense, is a member of the APC and shares accountability for national security.

The opposition, Kaura said, was politicizing the state’s problems and should stop shifting the blame and back continuous peacekeeping operations.

“APC members should be ashamed of themselves for assigning all the blame to Governor Lawal, even though they are aware that he is not in charge of the security agencies,” he said.