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Tinubu’s govt hasn’t found formula to rescue economy – Obasanjo

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Former President Olusegun Obasanjo has knocked the administration of President Bola Tinubu over poor implementation of the removal of subsidy from petroleum products as well as the floating naira.

This is just as the former President also called for a 25-year roadmap agenda to bring the country out of its various challenges.

Obasanjo said that though the policies were necessary but were however wrongly implemented.

The ex-president said this in a speech delivered at the Paul Aje Colloquium in Abuja at the weekend.

According to a statement made available to journalists on Sunday by his Special Assistant on Media, Kehinde Akinyemi, Obasanjo condemned the country’s position in dealing with the coup in the Republic of Niger.

Obasanjo did also not spare those who are against his position on the much-touted refurbished refinery at Port Harcourt, Rivers State, describing them as “sycophants and spin doctors”.

He declared that such people failed to remember that the attempt that was made in 2007 to partly privatise the refineries was made after a thorough study of the situation, hence his knowledge and a better understanding of the situation before making his decision late last year.

The former president also recommended ways out of the situation in the country, including a 25-year development agenda.

“Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to the impoverisation of the economy and of Nigerians. These are the removal of subsidy, closing the gap between the black market and official rates of exchange and the third is dealing with the military coup in Niger Republic.

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The way forward is production and productivity which belief and trust in government leadership will engender. No shortcut to economic progress but hard work and sweat.”

He added, “The economy does not obey orders, not even military orders. I know that. If we get it right, in two years, we will begin to see the light beyond the tunnel. It requires a change of characteristics, attributes, and attitudes by the leadership at all levels to gain the
confidence and trust of investors who have alternatives.

Total Energy has gone to invest 6 billion dollars in Angola instead of Nigeria. If the truth must be stated, the present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.

“They know us more than we know ourselves. And now they are laughing at us, not taking us seriously. We have to present ourselves in such a way that we will be taken seriously. If the existing investors are disinvesting and going out of our country, how do we persuade new investors to rush in?

We can be serious if we choose to be but we need to change from transactional leadership in government to transformational and genuine servant leadership.

With change by us, the investors will give us the benefit of the doubt, and security is taken care of on a sustainable long-term basis, they will start to test the water. With the right economic policies, attribute of integrity, and honesty of purpose, all should be well with all hands on deck and the government should become a catalyst for development, growth, and progress.

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On the economy, Obasanjo said, “Tinkering with the exchange rate is not the answer. The answer is consistency and continuity in policy to ensure stability and predictability. That way, we will be sure to incentivize domestic and foreign investment.

There must be honesty and transparency in government dealings and contracts and not lying with deception about these issues. When government is seen as pursuing the right policy, the private sector will go for production and productivity. Change is possible but it must begin with the leadership”.

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Easter tragedy: 17 lives lost in Benue amidst security concerns

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Police Command in Benue has said suspected armed herders attacked and killed 17 persons and injured many in Logo and Ukum Local Government Areas of the state.

This was contained in press statement on Friday signed by the Police Public Relations Officer, SP Sewuese Anene and made available to newsmen in Makurdi.

Anene, in the statement, explained that five people were killed in Ukum and 12 in Logo LGAs adding that some were injured and were receiving treatment.

“On 17/4/2025 at about 2100hrs, information was received that a large number of suspected militia had invaded Sankera axis of Benue State with intention to attack communities around Gbagir, Ukum Local Government Area.

“Upon receipt of this report, the Commissioner of Police, Benue State Police command, CP. Steve Yabanet, ordered tactical teams to move to the area and join forces with police officers on ground and other security agencies to forestall the attack.

“Following this order, a team of officers moved to the area and engaged them. While the attackers were being repelled in the early hours of today, they shot sporadically at unsuspecting farmers as they came across them .

“Five persons were recovered at Gbagir area and taken to the hospital where they were confirmed dead.

“Unfortunately an unsuspected simultaneous attack was carried out in Logo where 12 persons were killed before the arrival of the police, making a total of 17 persons.

“However, Security agencies within Sankera axis are still engaging the bandits as they retreat back to the forest around Taraba axis,” she said.

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Anene warned social media users that were reporting unconfirmed reports and inciting the general public, to desist from such actions.

The police spokesperson said that such actions were capable of creating unnecesary tension in the state.

She said the Command under the leadership of the Mr Steve Yabanet, was commitment to fight the attackers and encourage the good people of Sankera to continue to cooperate with the Police as the operation was ongoing. (NAN)

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Paris Club refund: Consultant files contempt charge against CBN

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A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over dispute on the Paris Club refund.

The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the Federal High Court in Abuja.

Cardoso and Kofo are facing contempt proceedings for allegedly failing to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal by Melrose General Services.

Justice Ekwo had fixed June 4 for the hearing of the matter.

The News Agency of Nigeria (NAN) reports that in June 2024, the Supreme Court overturned a previous forfeiture order against Melrose General Services Limited’s funds, which had been frozen following an investigation by the Economic and Financial Crimes Commission (EFCC).

The disputed sums included N1,222,384,857.84 in Melrose’s bank account and N220 million paid by the company to Wasp Networks and Thebe Wellness as loan and investment.

The apex court had ruled that the EFCC had not proven the funds were proceeds of fraud, as alleged.

The court set aside the lower courts’ forfeiture orders, directing the release of the funds to their rightful owners.

However, despite the Supreme Court’s decision, Melrose’s lawyers filed a lawsuit at the trial court, alleging that the CBN and its top officials had only partially complied with the judgment.

Melrose, in its application before Justice Ekwo, averred that while the N1.22 billion was refunded, the outstanding N220 million remains unpaid.

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The company, through its counsel Chikaosolu Ojukwu, SAN, filed the contempt suit against the CBN governor, Director of Legal Services, the EFCC and the Minister of Finance, arguing that their refusal to release the full amount constitutes contempt of court and undermines the Supreme Court’s authority.

Ojukwu informed the court that the EFCC, via the CBN, had only made a partial refund, and accused the CBN officials of neglecting their legal obligations regarding the remaining funds.

He cited the apex court judgement which ruled that, “The appellant’s application( Melrose General Services limited) to set aside the order of interim forfeiture of the sum of N1,222,384,857.84 in the appellant’s account with Access Bank Plc and N220,000,000.00 in the accounts of the 2nd and 3rd respondents(Wasp Networks and Thebe Wellness), is hereby granted.”

It would be recalled that Justice Ekwo had, on March 27, granted Melrose’s request to serve the contempt applications (Form 48 and Form 49) on the respondents, giving them seven days to reply.

At the April 10 hearing, Melrose’s counsel, Segun Fiki, confirmed that all parties, except the Ministry of Finance, had responded to the court documents.

The CBN’s legal team, represented by Abdulfatai Oyedele, filed a preliminary objection and counter-affidavit, arguing that the Supreme Court did not direct payment of N220 million to Melrose’s account, but to the accounts of Wasp Network Limited and Thebe Wellness Services, from which the money was originally forfeited.

The CBN submitted that Wasp Network’s solicitors had requested payment of N200 million, while Thebe Wellness had yet to claim their N20 million share.

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The CBN maintained it had acted in compliance with the judgment and that there was no unethical conduct.

The EFCC, represented by Martha Babatunde, filed a motion for misjoinder, asserting it should not be a party to the contempt case.

The judge has adjourned the matter until June 4 for hearing.

NAN recalls that the dispute stems from the controversial Paris Club refund, a settlement involving payments to consultants for services rendered to the Nigerian Governors’ Forum.(NAN)

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Easter: Ex-Senator La’ah Urges Nigerians Not To Lose Hope

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By Israel Bulus, Kaduna

A former Deputy Minority Whip of the Senate, Senator Danjuma Tella La’ah, has called on Nigerians to remain hopeful amid the country’s current economic and security challenges.

In his Easter message on Sunday, the lawmaker who represented Southern Kaduna Senatorial District in the 9th National Assembly, urged citizens to draw strength from the message of resurrection and renewed faith symbolised by Easter.

“As we celebrate the resurrection of our Lord Jesus Christ, I bring warm Easter greetings to all Christians, the good people of Southern Kaduna, and Nigerians across the nation,” he said.

La’ah expressed optimism in the efforts of President Bola Ahmed Tinubu to reposition the country, saying the current administration was working to resolve the nation’s difficulties.

“I urge fellow Nigerians not to lose hope. President Bola Ahmed Tinubu is doing everything possible to turn around the challenges that have hindered our nation’s progress,” he added.

The former lawmaker also prayed for divine guidance for the President, Kaduna State Governor Uba Sani, and other leaders at various levels.

According to him, the commitment to inclusive governance was yielding positive results in Southern Kaduna and across the nation.

“May this Easter inspire us to trust in God’s promises and believe in the transforming power of Christ’s resurrection—for our lives, our communities, and our nation,” he said.

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