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How CBN enhanced transparency in FX market

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Following recent policy actions taken by the Central Bank of Nigeria (CBN), the Nigerian foreign currency market has undergone a dramatic transition marked by more stability and transparency.

A major turning point in the nation’s economic reforms, these actions—which include the implementation of the Electronic Foreign Exchange Matching System (EFEMS)—have not only helped to rebuild investor confidence but have also strengthened the value of the naira relative to the US dollar.

With the official launch of the EFEMS project on October 3, 2024, the CBN took a daring step to address persistent problems with speculation and opaqueness in the foreign currency market. In order to establish a more organized and responsible trading environment, this system was created especially for use by authorized dealers in the Nigerian Foreign Exchange Market (NFEM). EFEMS went into full operation on December 2, 2024, following a successful two-week test run in November. The effects have been noticeable and immediate.

Data from the CBN indicates that within a month after EFEMS’ introduction, the value of the naira increased by N125 compared to the US dollar, from N1,660/$ on December 2, 2024, to N1,535/$ on January 3, 2025.

The CBN’s governor, Olayemi Cardoso, has been an outspoken supporter of these measures, emphasizing their value in promoting economic stability. “To unify Nigeria’s exchange rate, we have implemented crucial reforms over the past year, removing distortions and reestablishing transparency,” Cardoso stated. He emphasized that the CBN has been able to settle its outstanding foreign exchange obligations as a result of this unification, giving companies in a variety of industries, such as manufacturers and airlines, the assurance they need to make future plans and investments. Cardoso also emphasized EFEMS’s contribution to improving the foreign exchange market’s operation, pointing out that comparable systems have worked well in other markets.

Notwithstanding these developments, the CBN’s work is not independent. Nigerian banks have been consistently urged by Governor Cardoso to take on more responsibility in their capacities as market makers and intermediaries. He maintained that a dynamic economy like Nigeria’s cannot be adequately served by a foreign exchange market that is only defined by the CBN’s purchases and sales of dollars. “Banks need to take on their intermediation and market-making duties now in order to give their clients the best solutions for managing risks and operating their businesses,” Cardoso said.

On November 26, 2024, the CBN released a guideline requiring all banks involved in the interbank foreign exchange market to use the Bloomberg BMatch system for trading in accordance with this direction. The goal of this platform, which went live on December 2, 2024, is to improve the foreign exchange market’s operational efficiency and transparency.

The CBN has put in place thorough rules to guarantee the smooth running of EFEMS. To encourage efficiency and transparency, a minimum tradable quantity of $100,000 has been established, with increasing clip sizes of $50,000. In a circular sent to all banks, Omolara Duke, director of the CBN’s financial markets division, described these rules. “The EFEMS initiative is designed to ensure transparent, fair, and efficient FX trading, minimise counterparty risks, and enforce compliance with CBN regulations,” Duke stated. Serious consequences, such as suspension or revocation of access to the EFEMS platform, could follow violations of these rules.

Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), acknowledged the progress made by the CBN but also highlighted the challenges posed by the unregulated black market. According to Yusuf, while the measures taken by the CBN are yielding positive results, achieving exchange rate convergence remains a complex task.

“Speculators and manipulators in the market are constantly devising new tricks, so this must be a continuous effort,” Yusuf noted. He pointed out that the black market’s lack of regulation has compounded these challenges, accommodating illicit activities such as money laundering. “A wide range of activities, including illicit ones, are supported by the black market. These are transactions that cannot go through the official window, and this drives its operations,” Yusuf explained.

Yusuf also highlighted systemic challenges within the FX market, including legacy issues and manipulative practices. “In most economies, you cannot play around with foreign currency as you do here. Regulatory frameworks and enforcement are much stricter elsewhere,” he observed. The interplay between the official and black markets exacerbates these challenges, with some individuals exploiting the system for personal gain. “Unfortunately, there are instances where players in the official market have linkages with black market operators. These connections perpetuate volatility,” Yusuf stated. However, he remains optimistic about the progress being made, emphasising that the black market needs to be sanitised to ensure a more stable and transparent FX system.

In addition to EFEMS, other reforms have bolstered the naira’s stability. Governor Cardoso revealed that the average daily turnover in the Nigerian Autonomous Foreign Exchange Market increased by 226 percent in the first half of 2024 compared to the same period in 2023. Foreign portfolio inflows have risen by over 72 percent during this time, while foreign exchange reserves climbed from $32 billion in May 2023 to over $40 billion—the highest reserve level in nearly three years. These reserves now represent eight months’ import cover, a critical indicator of economic resilience.

Looking ahead, the naira-dollar exchange rate, which stabilised in the official FX market between July and December 2024, is projected to maintain its stability through 2025. Yusuf attributed this optimism to several factors, including increased foreign reserves, robust diaspora remittances, and inflows from International Money Transfer Operators (IMTOs). Additional measures, such as the $2 billion Eurobond proceeds, a $500 million domestic dollar bond, and the clearance of $7 billion in legacy forex obligations by the CBN, have further strengthened the apex bank’s capacity for market interventions.

Read Also: Breaking: Lagos governor approves N3.366 trn budget for 2025

Another significant development is the operationalisation of the Dangote and Port Harcourt refineries. These facilities are expected to ease demand pressure on forex for fuel imports, reducing dependency on external currency flows and bolstering the naira. Yusuf also noted a gradual recovery in the non-oil export sector, which is anticipated to contribute positively to forex inflows.

The EFEMS guidelines outline the roles and responsibilities of participants, which include all authorised dealer banks licensed by the CBN and other approved entities. The system is currently limited to transactions involving the naira and the US dollar, although other currency pairs may be introduced as directed by the CBN. The apex bank reserves the right to monitor all transactions, publish trade data, and impose penalties for non-compliance. Dispute resolution mechanisms are also in place, ensuring that disagreements are first addressed bilaterally and, if necessary, escalated to higher authorities.

Breaking: Lagos governor approves N3.366 trn budget for 2025

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coic
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Babajide Sanwo-Olu, the governor of Lagos State, signed the 2025 appropriations bill into law on Thursday.

Gboyega Akosile, the Governor’s Special Adviser on Media and Publicity, said this in a post on his X handle.

Read Also: NUJ Decries Assault on Journalist at PDP Secretariat in Abuja

According to him, the N3.366 trillion budget is intended to support the Sanwo-Olu administration’s outstanding achievements.

There will be more.

NUJ Decries Assault on Journalist at PDP Secretariat in Abuja

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coic
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The attack on Mr. Ndubuisi Orji, a council member, at the People’s Democratic Party (PDP) Secretariat in Abuja has been denounced by the Nigeria Union of Journalists, or NUJ, FCT Council Council.

A PDP employee named Emmanuel Okoronkwo is accused of assaulting Orji, a correspondent with The Sun Newspaper.

On Monday, January 5, 2025, the assault allegedly happened inside the PDP National Secretariat Wadata Plaza Wuse Zone 5 Abuja as the attacked journalist was ready to enter the press center within the secretariat to perform his legal duties.

The union promised to bring the issue up with the appropriate security authorities and sought an unconditional apology from the party within 48 hours, according to a statement issued by the secretary of council, Jide Oyekunle.

The incident happened on Monday, January 5, 2025, at the PDP National Secretariat Wadata Plaza Wuse Zone 5, while the journalist was preparing to enter the press center within the secretariat, according to the statement.

Read Also: Dangote refinery expected to boost manufacturing growth in 2025

The attack is deemed reckless, uncivilized, unjustified, and an affront to journalistic freedom by the NUJ.

Speaking about his experience, Ndubuisi claimed that Okoronkwo violently barricaded him from entering the secretariat and attacked him as he was making his way to the press center. Okoronkwo insisted that the National Secretary, Senator Samuel Anyanwu, had given the order that no journalists should be permitted inside the secretariat.

I was on my way to my car when Okoronkwo attacked me and slapped me again till those private security officers came to my aid.

He even broke my cell phone. Ndubuisi added, “He threatened to deal with me as well.”

Senator Samuel Anyanwu denied issuing such orders, stating that the party was on vacation and that he had attempted, but failed, to invite the impacted journalist.

“They reported the matter to the police,” he said. However, I have instructed the journalist to visit at his convenience so that I can learn more about the situation.

I wasn’t present when he arrived because the party was on vacation. You claim he said I gave the command, but I wasn’t involved. What kind of order? Was it me who ordered him to hit him? Anyanwu said.

But according to the NUJ FCT Council, Mr. Okoronkwo’s attack on Ndubuisi was irresponsible, ignoble, and repulsive. It was also deemed foolish, ridiculous, and undesirable, and it could not be allowed in a democratic society.

“Any attack on a journalist is a violation of the core values of press freedom and citizens’ ability to obtain truthful, objective information.

“The press must continue to be unrestricted, empowered, and free to carry out its essential social function. Unfortunately, the opposition party charged with speaking out against the government’s abuses and defending democratic values would turn to extreme force and intimidation against journalists.

The safety of all journalists who work to inform the public is under danger, and such acts not only compromise the integrity of the media but also the democratic ideals upon which our society is based.

Therefore, we urge the appropriate authorities to act right away in order to fully investigate this occurrence and bring the offenders to justice.

“Journalists must be protected and allowed to carry out their jobs without worrying about reprisals.”

In support of our colleague, we vehemently urge the Peoples Democratic Party (PDP) and the political thugs who work there to issue a quick public apology, which must be reported in two national dailies within 48 hours.

According to the statement, “We also demand that his mobile phone be replaced, as it was damaged during the process. Failure to comply with these conditions will compel the union to seek redress to get justice for our member.”

 

Dangote refinery expected to boost manufacturing growth in 2025

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coic
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According to a CardinalStone assessment, the multibillion dollar Dangote refinery would contribute to the material expansion of the manufacturing sector, which has been beset by numerous macroeconomic challenges.

According to the Lagos-based research and investment firm’s 2025 prediction, the 650,000 barrels per day facility is anticipated to increase exchange rate stability and trigger a central bank easing cycle, which will benefit the manufacturing sector this year.

“With the help of the Dangote Refinery, which increased effective refining capacity from almost zero to 650,000 barrels of crude oil per day prior to the old Port Harcourt Refinery’s rejig in November 2024), the relative stability of the foreign exchange market, and a potential rate cut by the CBN, we anticipate the sector to experience material growth in 2025,” the report said.

Recent reform-induced FX and interest rate pressures, notably inflationary pressures that reduce consumer spending and accumulate unsold inventories, exposed Nigeria’s manufacturing sector’s continued vulnerability to macroeconomic headwinds.

The Manufacturers Association of Nigeria (MAN) reports that during the first half of 2024, unsold goods totaling N1.24 trillion have accumulated in warehouses, a 357.57 percent increase over the same period the previous year.

According to MAN, there are three primary reasons why people aren’t purchasing as much: growing costs, the government’s elimination of fuel subsidies, and the depreciating value of the naira, Nigeria’s currency.

The richest man in the nation also cautioned that no company can sustainably create jobs with an interest rate of more than 30 percent, since almost 65 percent of the manufacturing companies listed on the NGX suffered foreign exchange losses in H1 ’24.

With prices reaching 34.6 percent, the highest level in almost 30 years, and the naira losing more than 40 percent of its value in 2024, crucial interest rates are rising, making it harder for manufacturers to borrow money and restricting the growth of their businesses.

Read Also: Tax Reform Bills: Silence Under Buhari – Shehu Sani Criticizes Northerners Challenging Tinubu

In an effort to stabilize persistently rising inflation and stabilize the currency rate, the CBN maintained its hawkish stance throughout 2024, raising the monetary policy rate (MPR) to 27.5 percent for the sixth consecutive time.

Although these measures were insufficient to bring the economy to more stable conditions, analysts anticipate that this year’s inflation will slow, suggesting that interest rates may be lowered.

Tax Reform Bills: Silence Under Buhari – Shehu Sani Criticizes Northerners Challenging Tinubu

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coic
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Senator Shehu Sani, a leader of the Peoples Democratic Party (PDP), has criticized prominent Northern politicians for threatening to exploit the contentious tax reform proposals to undermine President Bola Ahmed Tinubu’s 2027 reelection.
Former lawmaker Sani advised the North to restructure and consider how the Northerners in Asiwaju’s cabinet could help the region grow in an interview with The Sun.
He emphasized that Northerners now hold important positions in President Tinubu’s cabinet.

“He has given all the important institutions and ministries to the North,” Shehu Sani stated. The chief of defense staff is a Northerner from Kaduna State. The National Security Advisor is an Adamawa State native from the North. The minister of agriculture and the minister of state for agriculture are both Northerners. The defense minister and state defense minister of Jigawa and Zamfara states, respectively, are Northerners. Up until recently, the education minister was a Northerner.

Buhari’s shortcomings
He emphasized that despite numerous shortcomings, Northerners remained silent throughout the former President Muhammadu Buhari’s government.

Sani claims that Buhari was not told by Northern elites that they had voted for him but that he had failed.

Read Also: Defamation allegations: CCY claims responsibility for arrest of ex-Pastor-turned-atheist, Abraham Daniel

Buhari nominated Northerners to positions that did not serve the interests of the North, according to the former MP.

“Let’s tell ourselves the home truth,” Shehu Sani stated. What did he do when our own was in charge for ninety-six months? People remained silent despite all the failures. They wouldn’t hold him responsible. They declined to pass judgment on him. They wouldn’t admit that you failed despite our votes for you.

He was unable to build any significant roads to Northern Nigeria for eight years. Even after eight years, he was unable to turn on the Mambila power plant. After eight years, he was unable to dredge or revitalize the Niger River. After eight years, he was unable to dualize the express route between Abuja, Kaduna, and Kano. After eight years, he was unable to dualize the express routes in Kano, Kaduna, and Lagos. Despite spending billions of naira on agriculture, he has nothing to show for it.

“He put Northerners in positions that haven’t benefited the North’s interests. Therefore, what conscience do you have to threaten someone else with reelection if you are unable of holding your son accountable, if you remained silent, if you remained silent, and if you folded your arms during Buhari’s administration?

Defamation allegations: CCY claims responsibility for arrest of ex-Pastor-turned-atheist, Abraham Daniel

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coic
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The Concerned Christian Youths, a Christian body organisation, has claimed responsibility for the arrest and detention of some persons for cyberbullying and attacks on some Christian leaders in Nigeria.

Recall that the Nigeria Police had invited a former pastor-turned-atheist, Abraham Daniel, and one other person for using their social media platforms to troll some clerics.

However, a section of the media had attributed the arrest to an Abuja-based cleric.

The Christian group in a statement by its cordinator, James Paul Adama, has now confirmed that it is behind the petition that led to the invitation of the suspects by the police.
The statement reads below:

“Our attention has been drawn to some online publications purportedly claiming that some individuals were arrested by or at the instance of a certain revered man of God. Nothing can be farther from the truth.

“We would like to sensitize the public to treat such publications as egregiously malicious, inciteful and fallacious with the intention of swaying attention from the truth.
“The individuals in question are cyber bullies who have been attacking the Christian Faith and reputable Christian leaders in Nigeria. Those publications are being peddled by the same acrimonious agents in furtherance of their nefarious agenda against the Christian Faith and Christian leaders in Nigeria.
“The arrests were rather made by us, Concerned Christian Youths and Spiritual Sons of the Faith. And we invoked the relevant provisions of the Law against cybercrimes.

“The Cybercrimes (Prohibition, Prevention, ETC) ACT 2015 with the Amendment Act, 2024 have explicit, unambiguous provisions against cybercrimes, including cyber-bullying.

“Section 24 sub-section (1) provides that, “A person who knowingly or intentionally sends a message or other matter by means of computer systems or Network that –
(b) he knows to be false, for the purpose of causing annoyance, inconvenience, danger, obstruction, insult, injury, criminal intimidation, enmity, hatred, ill will or needless anxiety to another or causes such a message to be sent.
“Commits an offence under this Acts and is liable on conviction to imprisonment for a term of not more than 3 years…”
“Similarly, Section 24 Sub-section 2 provides that, “A person who knowingly or intentionally Transmits or causes the Transmission of any communication through a computer system or Network –
To bully, threaten or harass another person, where such communication places another person in fear of death, violence or bodily harm to another person;
(c) containing any threat to harm the property or reputation of the addressee or of another or the reputation of a deceased person or any threat to accuse the addressee or any other person of a crime, to extort from any person, firm, association or corporation, any money or other thing of value, commits an offence under this Act, and is liable on conviction –
In the case of paragraph (a) and (b) of this sub-section, to imprisonment for a term of this sub-section, to imprisonment for a term of 10 years…, and,
In the case of paragraph (C) of this sub-section, to imprisonment for a term of 5 years…”
Following the provisions of this Act, the Nigerian Police Force in December 2024 declared cyberbullying as a criminal offence punishable by Law.
“Thus, the activities of the arrested individuals made them liable to prosecution and conviction under the provisions of this Act as highlighted above, and that is the reason for their arrest.

“Before this time, we have invoked the above provisions to arrest and press charges against a certain prophet who was picked up by the police from Lagos, and after having tasted the other side of the Law, he offered a public apology both in electronic and text forms and published same in reputable national dailies. This shows the extent to which we are ready to use the provisions of the Law to confront anyone who denigrates our Faith or attacks our fathers of faith. This is regardless of whether the cyberbully is a self-acclaimed clergy or a laity.
“We are not alone in this war against social media anarchy, brigandage and gangsterism.
“In July 2023, a social media influencer (Tiktoker), Okoye Blessing Nwakaego was sentenced by Justice Oweibo of the Federal High Court, Lagos to 3 years imprisonment for engaging in cyberbullying a Nollywood actress, Eniola Badmus. “The police had accused the convict of conspiring between December 2022 and July 2023 to commit a felony, to wit: cyberstalking.
“The convict was also said to have knowingly caused the transmission of communication via Tiktok, gossip mill tv, remedy blog and other social media network, which is grossly offensive and false and to cause annoyance, inconvenience, danger, insult, injury, criminal intimidation, enmity, hatred, and needless anxiety to the prejudice of one Eniola Badmus.

“And away from Nigeria, in July 2021, a French court convicted 11 people charged with harassing and threatening via the internet, a teenager who harshly criticized a certain religion. The verdict was the first of its kind since France created a new Paris court in January to prosecute online crimes, including harassment and discrimination.
“The court sentenced the defendants to suspended prison terms of four to six months and fined them about $1,770 each.

“Across the globe, the hazards of social media, especially, cyberbullying have assumed a worrisome dimension.
“In Nigeria, it is even more worrisome as these attacks are targeted at the Christian Faith and her reputable leaders. Almost every content creator in Nigeria is using the mockery of Christianity and Christian leaders to ply their trade. This is denigrating, defamatory and blasphemous to Christianity, and therefore unacceptable. No genuine Christian can watch the mockery and denigration of Christianity as is being done in Nigeria with indifference.

‘The most vital part of every man’s existence is his faith or belief system. We find the foundation of our existence as Christians, and our hope for the future, both in this world and in the hereafter, threatened by the barrage of unwarranted attacks against our spiritual leaders.

“Most reputable leaders are either too big or too busy to engage detractors, and we cannot sit idly by and watch some malicious elements attack their reputation with the aim of confusing the minds of their followers. These are the very people from whose mouths we receive the gospel of hope and salvation.

“Beyond this, the activities of these individuals are breeding social anarchy, moral decadence and lawlessness with the overall implication of plunging our society if not the whole nation into an inferno of social and religious violence. Our country has grappled with the challenges of insecurity for so long; we cannot afford to open a new front for another form of violence and insecurity. Therefore, it is in the overall interest of national security to address this social media brigandage called cyberbullying.

“These are the reasons why we cannot hold our peace. We are ready to use every applicable provision of the law to tackle these unwarranted, illogical, brazen, malicious and ill-conceived attacks on the Christian Faith and reputable fathers of Faith in Nigeria regardless of denomination until justice is served and sanity is restored. We are fully armed with the truth, and we know that the forces of evil will always bow before good as the wicked bows at the gates of the righteous.

“In conclusion, we want to reiterate the fact that the publicized arrests were made by us and not by any man of God as purported by those malicious publications. Therefore, any attempt to further twist the narrative and force falsehood down the throats of the public will be vehemently resisted, if necessary, with further legal actions using applicable provisions of the Law.”

10 EFCC officials arrested for theft of operational items at Lagos office

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coic
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Due to missing operational materials that may have been taken from the Economic and Financial Crimes Commission’s (EFCC) Lagos office, ten EFCC staffers have been placed under arrest.

In a statement released on Wednesday, the anti-graft agency said it is looking into their possible role in the heist.

According to the statement, ten officers from the Economic and Financial Crimes Commission’s (EFCC) Lagos Zonal Command are being held in connection with an investigation into some missing objects.

Read Also: Romance Scam: Two Nigerians in US Face 40-Year Prison Sentence

“The officers are responding to inquiries about the theft of certain operational items that they were unable to account for. They were arrested last week on the Executive Chairman, Mr. Ola Olukoyede,’s orders.”

Investigators are making good progress, the agency said, and those found guilty will face internal disciplinary procedures.

According to the EFCC, the action is part of its ongoing attempts to rid the organization of corrupt practices.

Romance Scam: Two Nigerians in US Face 40-Year Prison Sentence

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coic
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Due to their roles in a romance scam, Olutayo Sunday Ogunlaja and Abel Adeyi Daramola, two Nigerians living in the United States, will be sentenced to a total of 40 years in prison.

The two were found guilty during a four-day trial and less than three hours of deliberation, according to a statement released by the Department of Justice on behalf of US Attorney Alexander Uballez and FBI Albuquerque Field Office Special Agent in Charge Raul Bujanda.

“The scheme, which started in January 2016, involved the creation of a fictitious persona named Glenn Brown on the dating website eHarmony.com,” according to court documents and evidence produced at trial. Nigerian nationals Olutayo Sunday Ogunlaja, 39, and Abel Adeyi Daramola, 37, collaborated with another person who used this fictitious profile to start a romantic relationship with a victim in Albuquerque, New Mexico, and then demand money from them, according to a portion of the statement.

According to the statement, the victim was misled throughout the scam into thinking that “Glenn Brown” needed their money in order to finish a fictitious construction job in Malaysia and make a safe return to the United States.

Read Also: Lagos government announces arrest of teacher in viral child abuse video

It was discovered that between January 2016 and April 2017, the victim transferred over $560,000 to several accounts in the US, Canada, and Malaysia.

In a similar vein, the victim allegedly sent about $28,000 to a Woodforest Bank account under the name Daramola Cars on September 27, 2016, per the bogus “Glenn Brown” persona’s instructions.

Daramola then sent a check for $14,000 and wired $18,000 to a Danish seafood merchant.

Although Daramola denied knowing about the romance scam, the FBI claimed that their investigation had turned up a wealth of evidence, including WhatsApp and text messages on Daramola’s phone, demonstrating his involvement in providing bank accounts for a number of fraud schemes, including romance scams.

Ogunlaja, the second prisoner, was involved in the illicit receipt of monies through his Bank of America account.

The FBI claims that “Glenn Brown” gave the victim instructions to deposit $20,000 into Ogunlaja’s account on March 9 and March 15, 2016.

It was discovered that Ogunlaja made numerous cash withdrawals and transfers to Daramola’s account following the contributions.

Ogunlaja and Daramola were placed on terms of release by the court after the verdict, pending the date of sentencing, which has not yet been set.

Ogunlaja and Daramola each face a maximum sentence of 20 years in prison without the possibility of release.

Lagos government announces arrest of teacher in viral child abuse video

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On Wednesday, January 8, the Lagos State government announced the arrest of Stella Nwadigo, a nursery school teacher at the Christ-Mitots School in Ikorodu.

After being caught on camera slapping a three-year-old kid for not doing well on a class assignment, Nwadigo was reportedly taken into custody by Lagos State Domestic and Sexual Violence Agency agents.

In the video that was posted on X, Oyindamola stated, “A teacher named Stella Nwadigo was seen physically abusing and mistreating a three-year-old boy named Abayomi Michael.”

Nigerians were outraged by the instructor’s behavior in the video, and many of them called for the school to be closed and the teacher to be arrested on social media.

But in a quick move, LDSVA on its X account praised Nigerians for alerting the agency to the teacher’s behavior.

It read, “We are grateful to everyone who alerted us to the alarming case of a teacher who was caught on camera physically abusing a 3-year-old boy.

“We are happy to notify the public that Owutu FSU has taken the teacher into custody and that an investigation has begun in earnest,” LDSVA stated.

Read Also: Governor Grieves as Newly Appointed Aide Passes Away Within 24 Hours

The organization also reaffirmed to Nigerians its dedication to upholding each child’s rights and giving all children in the nation a loving environment.

“Please do not hesitate to contact us via our toll-free hotline: 08000 333 333 or send a direct message on our social media platforms if you have any additional information about this case or similar incidents,” the statement continued.

Governor Grieves as Newly Appointed Aide Passes Away Within 24 Hours

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Kano State Governor Abba Yusuf is in grief over the passing of Ahmed Bunkure, who passed away just twenty-four hours after the governor appointed him.

On Tuesday, January 7, 2025, Governor Yusuf appointed Bunkure as his Special Adviser on Works. Regretfully, Bunkure passed on the next day, Wednesday, January 8.

On Wednesday, the spokesperson informed Governor Sunusi Dawakin Tofa of his passing.

According to a statement from DawakinTofa, on Wednesday, January 8, the governor’s recently hired aide passed away in Egypt.

Read Also: Court Declares Jurisdiction to Hear Case Against Emefiele

Governor Yusuf prayed for Bunkure’s soul, calling his passing terrible and an irreplaceable loss to the state, his family, and the larger political community.

Additionally, he begged Allah to show mercy to the deceased and grant his loved ones the fortitude to cope with the loss.

“This is a heartbreaking moment for us as a government,” Governor Yusuf stated. Bunkure was a committed professional whose knowledge and input were supposed to propel our administration’s development goals. In the statement, the governor stated, “His loss is deeply felt.”

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