National
How Dafinone, CBN’s Consultant standing trials allegedly instigated mass sack of NIRSAL’s workers
Strong indications have emerged suggesting that one of the embattled “Cardoso girls” allegedly earning 35 million naira monthly and who also doubles as Board Member of Nigerian Incentive-based Risk Sharing System of Agricultural Lending (NIRSAL) Miss Daphne Dafinone outrightly countered the renewal of contracts staff pointing that the decision was to cut cost in NIRSAL.
Sources within the organization who pleaded anonymity lamented that “NIRSAL plc services may not be accessible to all farmers, particularly those in remote or hard-to-reach areas particularly now that it has cut down manpower in the State offices despite the fact that the sacked foot soldiers in the State offices are the ones who know where the farmers reside and have first hand information about all Anchor Borrowers Program (ABP) loan transactions. ”
“This will make the process of loan recovery cumbersome, deterring NIRSAL from recouping the intervention funds which will amount to waste of taxpayer money and deter farmers from participating in prospective intervention programs in the future. It will ultimately prevent NIRSAL from meeting the demands of Nigeria’s large and diverse agricultural sector.” She added.
Meanwhile the Managing Director Saad Hamidu in a leaked audio obtained by this medium assured contracts staff of renewal in 2025. This was after he resumed in September 2024.
Investigation suggested that NIRSAL most influential Board member Daphne Dafinone allegedly countered the Managing Director’s decision forcing the life saving decision to abort.
However, when Newsguide Online contacted NIRSAL’s Head of Corporate Communications Mr. Jude Nnadozie for balancing, he maintained that the contract staff were sacked because their contract had elapsed.
New Telegraph reports say Mr Cardoso, in September 2024, appointed Miss Daphne Dafinone to the board of the Nigerian Incentive-based Risk Sharing System of Agricultural Lending (NIRSAL), a non-bank financial institution owned by the CBN and charged with redefining measuring, re-pricing and sharing agribusiness-related credit risks in Nigeria.
Despite her ongoing trial, Ms Dafinone is combining her role on NIRSAL board with her controversial consultancy at the CBN.
According to Premium Times Online report, the CBN has four deputy governors: Emem Usoro (Corporate Services Directorate), Muhammad Dattijo (Economic Policy Directorate), Philip Ikeazor (Financial System Stability Directorate), and Bala Bello (Operations Directorate). However, staff members now derisively refer to Ms Balonwu and Dafinone as the fifth and sixth deputy governors of the bank, saying the two have amassed so much power to be so called.
Directors said the consultants now write memos on CBN letterheads, issuing directives even when they are unknown to the bank’s structure and organogram.
“They said they are consultants, but they have permanent offices in the bank, and their consultancies have no end dates,” one director said. “I am tempted to say they are even more influential than the deputy governors. Their offices are on the eleventh floor, just like the governor’s. The deputy governors are on the tenth floor, below the so-called consultants. They even bypass deputy governors to give direct instructions to directors.”
Another bank insider corroborated the director’s claim, saying he once overheard one of the women boasting that “if she draws a line at the bank, even the governor dare not cross it”.
“I can tell you the women are the real people running the CBN. Cardoso has become a mere figurehead,” a third director said.
*Consultant earning salary of 15 directors*
Staff members also accuse Mr Cardoso of paying the women obscene salaries. For instance, Ms Balonwu, they said, pockets N50 million naira monthly, earning more than the governor and the deputy governors. Her salary also dwarfs the combined pay of 15 directors, who earn below N3 million monthly.
On her part, Ms Dafinone earns N35 million monthly, said to be higher than the combined salaries of 10 directors.
Meanwhile, inside sources said NIRSAL is falling short of its intended purpose.
According to the source, “despite its mission to de-risk and facilitate flow of affordable finance into the agricultural industry, the organization has struggled with critical issues. This has ultimately hindered its progress. Recall that NIRSAL Plc’s former management teams have been embroiled in several corruption scandals. One notable case involved a multi-billion naira loan guaranteed by NIRSAL for three investor companies to cultivate and harvest wheat in Kano and Jigaya states. However, the loan was allegedly diverted by the companies in collusion with NIRSAL officials.”
Also speaking, another source pointed that “another instance of corruption involved the pioneer managing director, Aliyu Abdulhamed, who was linked to a case where a private consultant, Dr. Steve Ogidan, returned N1.5 billion to the Economic and Financial Crimes Commission (EFCC) to avoid conviction. The EFCC alleged that the funds were proceeds of unlawful activities, while Ogidan and Abdulhamed claimed they were legitimate earnings from consultancy services. These corruption allegations led to the Central Bank of Nigeria (CBN) sacking the top three executives of NIRSAL Plc; The Managing Director and Chief Executive Officer, Abbas Umar Masanawa, as well as two executive directors, Kennedy Nwaruh and Olatunde Akande.”
He revealed that NIRSAL’s policy somersault, high staff turnover, staff maltreatment, witch hunt and victimization, litigation battles and others have adversely impacted its ability to deliver sustainable results. Some typical examples are the cases of Olalekan Olusanya, a former Head of Internal Audit and Olusola Omole, a former Head of the Technical Coordinating Unit, who were among employees unlawfully sacked by the pioneer Managing Director of NIRSAL, Mr Aliyu Abdulhameed, for speaking against mismanagement of public funds under his administration. Also, Noel Dilli, a field officer and Coordinator of Nasarawa State, who stood against maltreatment of contract staff particularly under the previous MDs, was relieved of his contract recently. Kesman Samson, Murtala Mohamud who were coordinators of Adamawa and Gombe state offices were disengaged while some others were transferred or had there contracts terminated. The pioneer MD and his successor are alleged to have control over some of the management staff who serve their interests in the organization. This raises concerns about the organization’s effectiveness and accountability.”
These challenges, according to inside sources will continue to result in food shortages and increases in food prices particularly for staple crops like rice, maize, and wheat. Malnutrition, particularly among vulnerable groups like children, pregnant women, and the elderly will equally take precedence as a result of these challenges.
It has been a full week of listening to Politricktians struggling to defend the indefensible. I have watched some struggle to present purely self-seeking and egocentric predilections and decisions as altruistic and popular. The usual lie told when politicians decamp from one Party to another was rife in the news-wave. It was repeated every so often they were confronted with ‘why did you decamp to a Party you had mocked and described as soulless and directionless?”. And the lies would come streaming with shameless Olympic stupidity and shenanigans unbridled.
If your reason for moving from the PDP to the APC is to connect Delta State to the Centre ditto to Abuja, who Abuja elp? How has the Partisan affinity or connection with Abuja helped Lagos State? How has it benefitted Benue State? How has it made life better for the people in Bornu State? And how has the lot of the people in Imo State improved? The States here in reference are APC States, and are badly messed up.
Since 1999 Lagos State has never had it so bad, Lagos State for instance fared better when it wasn’t in partisan sync with the centre. No sane person can compare Tinubu’s term as Governor of Lagos State with Sanwo-Olu’s, none can compare Fashola’s, or Ambode’s one term, albeit as opposition Governors with the most lethargic and uneventful watch that Lagos State has produced in the last 26 years Sanwo-Olu’s connect with Abuja notwithstanding. Lagos is presently experiencing it’s worst leadership deficit and lethargy in 26 years, but Sanwo-Olu is not the trust of this piece, so I will let him be, but I shall return to substantiate my position, if his spin-doctors provoke me.
To the States of Bornu, Benue and Imo, the vouched partisan affinity with Abuja is a curse more than a blessing. Bornu and Benue are theatres of unmitigated security challenges. I won’t mention Jos, Plateau so Partisans wouldn’t challenge me that Plateau State is PDP. However, in today’s Nigeria most of the States troubled silly with insecurity are APC States. Human barbecues are dished with reckless abandon by the Haramists and Herders, and Abuja has done little to help, it has been more words and little action. All the people see, read and know is the blood soaked and blood stained mandate of President Bola Ahmed Tinubu and his Party. The APC has failed them like it has failed most Nigerians, so the people who decamped from the PDP to the APC in Delta State should stop telling stupid lies of how a contrived partisan sync with Abuja will benefit Delta State, that na big lie. The truth is that that decision of theirs is absolutely self-seeking, egotistic and individualistic, it was a shenanigans shameless and utterly soulless.
Is Imo an example of a State benefitting from her partisan sync with Abuja? I beg make I laugh small. And to make matters worse they call Governor Hope Uzodinma the Chairman of the Unprogressive, oh sorry, Progressive Governor’s Forum. That means that Hope Uzodinma is the Chairman of the Forum of APC Governors. I beg ask Ndi’Imo how market? Now Governor Sheriff Oborevwori is an APC Governor, and I hear that Pastor Eno of Akwa Ibom is joining soon. If no be craze, how will a Governor wey dey try small go go join Party wey the Governor wey no dey try at all, go be im Chairman? What in today’s Nigeria is testament to the laudable rule of the APC? And why is the APC attractive to the defectors streaming into the Party? I am committed to telling all I know, and more in the sequel to this piece, yes Part 3 dey come.
I am committed to making sure that each of this series is short and reader friendly. However, I will not conclude this without calling out Nigerians to consistently interrogate Public Office Holders and Political Operators, we must understand that eternal vigilance is the price of freedom, and we must refuse to drink from the poisoned chalice of deceit, falsehood, and debauchery that self-serving Politricktians wield. And we must say no to their lies, half truths and mendacity.
Compatriots, those defending the egocentric and self-seeking defection of the Delta State Governor and his Team from the PDP to the APC are smart by half. And to those wondering whether we can effectively organize to stop the rudderless APC, the gail of defections notwithstanding, I bring great hope. Yes, there is enough time to perfect and pull through with the needed coalition to defeat the underperforming APC in 2027. Do not forget that Peter Obi didn’t have a State Governor when the Labour Party won the election in 2023. Tinubu didn’t win the majority of the total votes cast when INEC declared him winner, and having failed, as he continues to outperform Buhari in failure, the hail of defections will only deepen the Tinubu rejection.
Do not forget that Delta State was home to the Obidient Movement in 2023, and still is. Do not also forget that Okowa, Sheriff Oborevwori and the PDP machinery was roundly trounced and defeated by the Obidient Movement/Labour Party at the Presidential polls in Delta State in 2023, and that it took the Obidients rejecting Senator Ovie Omo-agege for Oborevwori to emerge Governor in 2023. May the Proud, the Arrogant and the Boastful use their tongue count their teeth, e no far again.
Delta State in 2027 offers a beautiful turf for the replay of the contest between the Peoples Power, and the Power of the men in power. Indeed, 2027 will be a Ballot Based People’s Revolution deeper and more effective than what happened in 2023. Take note that President Bola Ahmed Tinubu and the APC are consistently their own greatest undoing, not with Buhari’s colossal failure becoming Child’s play compared with Tinubu’s uneventful and Olympic failure.
Folks, we shall coalesce and unite to make Tinubu a One-Term President, that’s the least duty we owe Nigeria.
I shall return very soon with Part 3, but before then, please stay safe and protect yourselves, ‘no be me talk am, na one Oga DSS dem say na im talk am.’
God Bless Nigeria.
Prof Chris Mustapha Nwaokobia Jnr
Convener COUNTRYFIRST MOVT. A Good Governance Advocacy Group.
The Osun State Chapter of the All Progressives Grand Alliance (APGA) has expressed deep concern over the welfare of workers in the state, calling on the Osun State Government to prioritize the needs and aspirations of civil servants and public workers.
This was contained in a press statement issued on Thursday by the Chairman of the Party, Wole Adedoyin, and made available to newsmen in Osogbo.
According to the statement, APGA recognizes and appreciates the indispensable role that Osun workers play in the administration and development of the state. Without the hard work, loyalty, and sacrifice of civil servants, governance would grind to a halt, and public service delivery would be severely impaired.
The party noted that while workers across the country face similar challenges, the plight of Osun workers demands special attention. Delayed salaries, pension arrears, poor working environments, and lack of adequate motivation have continued to diminish the morale of workers in the state.
“Osun workers deserve better,” Adedoyin said. “It is unacceptable that in 2025, workers still struggle with irregular salary payments, inadequate housing, and insufficient health coverage. This is a violation of their rights and a breach of trust between the government and its employees.”
APGA called on the state government to implement a comprehensive worker-friendly policy that includes prompt payment of salaries and pensions, professional training opportunities, and improved infrastructure in public offices. According to the party, a motivated workforce is the bedrock of any successful administration.
The party also urged the state government to engage directly with workers’ unions and associations to identify critical areas of need and to ensure a participatory approach to policy-making regarding labor and employment matters.
APGA used the opportunity to salute the resilience and patriotism of Osun workers, especially teachers, health professionals, law enforcement officers, and local government staff, who continue to discharge their duties in the face of adversity. “Your commitment to the state does not go unnoticed,” the statement read.
Wole Adedoyin reaffirmed APGA’s commitment to the protection of workers’ rights, stressing that the party’s philosophy—Be Your Brother and Sister’s Keeper—would remain its guiding principle in standing with the workforce of Osun State.
The Nigerian Education Loan Fund (NELFund) has refuted allegations of misappropriation and mismanagement of student loan funds.
In a statement on Thursday, Oseyemi Oluwatuyi, the fund’s director of strategic communications, said some media reports are circulating “unverified, context-free, and inflammatory” claims suggesting that it mismanaged student loan monies.
Oluwatuyi said these allegations are “false, grossly irresponsible, and damaging” to the integrity of the scheme.
TheCable earlier reported that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced an investigation into alleged discrepancies in the disbursement of student loan funds.
A report had claimed that 51 tertiary institutions were involved in illegal deductions and exploitation related to the NELFund scheme.
The ICPC said that of the N100 billion released by the federal government reportedly for the student loan scheme, only N28.8 billion had been disbursed to students as of the time of the report, leaving about N71.2 billion unaccounted for.
It noted that its special task force has invited key stakeholders for questioning, including the director general of the budget office, the accountant general of the federation, and officials of the Central Bank of Nigeria.
Akintunde Sawyerr, NELFund’s managing director, has also been invited to provide relevant documentation.
The ICPC said N203.8 billion had been received by NELFund as of March 19, 2024, from multiple channels.
These include allocations from the Federation Allocation Account Committee (FAAC), the Economic and Financial Crimes Commission (EFCC), and the Tertiary Education Trust Fund (TETFund).
Of that figure, ICPC said N44.2 billion had been disbursed to 299 beneficiary institutions, covering 293,178 students.
Oluwatuyi said no funds have been stolen under the current student loan scheme, which officially launched its application portal in 2024.
“All institutional fees are paid directly to verified institutions, while upkeep allowances go into the verified bank accounts of eligible students,” she said.
“The reports circulating in the public space are based on outdated figures and previous interventions that predate our operations.”
The communications director said NELFund operates an automated loan system to eliminate the possibility of financial misconduct.
Every application and disbursement, according to her, is digitally tracked, time-stamped, and verifiable.