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Group unravels CBN, Discos’ secret plots to collapse Nigeria’s economy

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GODWIN EMEFIELE, CBN Governor

The federal government has been intimated of alleged plots by the Central Bank of Nigeria, (CBN) and Electricity Distribution Companies, (Discos) to collapse the nation’s economy through an ongoing secret moves to cancel Eligible Customer, (EC) scheme.

The plot by the cartel if not quickly arrested will not only cause injuries on manufacturing industries but it will also lead to the total collapse of the economy, thereby causing unemployment because more industries will soon wind-down operations.

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The Coalitions of Arewa Assembly in a statement issued in Kaduna, on Sunday by its National Coordinator, Mallam Attahiru Usman, disclosed that the move by the CBN and some Discos cartels is a deliberate attempt to collapse the economy stressing that more industries may soon go out of business operations.

Usman said, “CBN’s mandate is to regulate Nigerian banking activities and money markets but has no business in the regulation of the power sector.”

The group also urged the 36 state governors under the auspices of the Nigeria’s Governors’ Forum to rally round its members in a bid to arrest jobs carnage and Internally Generated Revenue, (IGR) deficit stressing that many industries have collapsed in Kano, Kaduna, Zamfara, Lagos, Ogun and other states of the federation while many others are operating below capacities.

According to the statement, “As part of efforts towards actualizing their aims of increasing Electricity Tariffs, the said cartel plotted coup d’état which ensured that Mr. Raji Fashola SAN was not returned as Minister for Power for a second term tenure while the former Managing Director of Transmission Company of Nigeria, (TCN)was also relieved of his appointment.

“Unfortunately, it is crystal clear at this point to note that the purpose of privatization has not been achieved. Discos have found their ways to lobby the CBN Governor, Mr. Godwin Emefiele, to cause policy summersault by mis-regulating the system, increasing electricity tariff as well as planned to cancel Eligible Customers which is the only avenue for the Electricity Generation Companies to sell close to 3000 stranded powers that Discos was not able to evacuate.

“Cancellation of Eligible Customers which has been a huge relief to Genco and TCN as well as manufacturers that are buying bulk powers, will wreck serious havoc on business activities nationwide with negative ‘bush fire’ effects on all facets of the nation’s economy.”

The statement further stressed that, “The privatization act has set limitations for all Discos while the act of Electricity Generation Companies and TCN gave rooms for the Eligible Customers. This alert is in the collective interest of Nigerians. At the moment, transformers are being purchased by members of communities and associations for the comfort of their households while Discos take advantage of this and claim returns on such efforts put in place by innocent residents in their budget.

Despite the proclamation by the national assembly, Discos are yet to invest on purchase of meters. It will gladden our hearts if Discos can do an hour documentary to be aired on National Television stations on their achievements to Nigerian masses since the privatization was done
as well as give adequate account of the fund released to them by the federal government through the Central Bank of Nigeria, (CBN).

The group however appealed President Muhammadu Buhari and his economic team to urgently wade-into the matter even as it called on the leadership of the national assembly led by the Senate President, Dr. Ahmad Lawan to adopt legislative processes to unravel the plot.

“Please save our country from ‘cartels’ who inherited our national assets without any relief to the masses, we cannot afford to see our residents in blackout and industries collapsing on high power tariff cost while our members are losing their jobs. Nigerian youths are suffering, more graduates are being produced and there are no vacancies to accommodate them. If the CBN and Discos did not desist from the plots, we shall have no choice than to storm the national assembly and the CBN headquarters to demonstrate and stage protests on major roads.

“Before embarking on any policy of this kind, we implore the leadership of National Assembly to prevail on the Minister for Power to organize a public debate wherein, stakeholders, interest groups, associations as well as representatives of Non-Non-governmental Organizations, (NGOs) would be involved in order to submit their positions before hand”, Usman added.

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Murder: Family of Slain Teenager Plans Protest, Legal Action Against Kaduna Govt

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29 days after ‘AHMED MUSA’ was brutally killed in Government Technical College Malali Kaduna, family of the deceased planning to go to court to demand justice and adequate compensation for the unfair treatment meted to them.

In a statement on Monday, jointly signed by the deceased father Comrade Musa Mohammed (Moonlight), and the members of the family.

They stated that the incident was a “reflection of how insecure and unsafe” Nigeria has become for young people striving for a better future.

The family demanded “an expedited, transparent, and decisive legal process” to ensure justice is served, warning that they “will resist any attempts at political interference or compromise.”

Among their demands, they called on the state government to acknowledge that “students are no longer safe in their communities. If young people can be killed in such gruesome circumstances, what hope is left for the future of Nigeria? a formal apology from the kaduna state Government and comprehensive compensation for the family.

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We demand Five Hundred and Sixty Million, Three Hundred Thousand Naira (N560,300,000), as compensation from kaduna state government.”

“We think the time has come for the Kaduna State Government and all who are on the side of humanity to respond to the cry for remediation of the family and relations of the deceased student.
That is why we will go to court.”

“Also, we warn kaduna state government, that if they didn’t meet up with our demands we will be forced to mobilise the full strength of the masses movement across kaduna State in protest.

“This is about the fundamental right to life that every Nigerian student deserves. We will not sit idle while students are hunted and butchered.

Recall, the father on a petition dated 24th February 2025which was addressed to the executive governor of Kaduna state through the honorable commissioner of education, appealing for comprehensive investigation to un-cover those behind his son death, and whoever is found to have a hand in the death of his son should be punish accordingly.
And also demanded from kaduna state government adequate compensation for negligence being the custodian of the deceased Ahmed Musa.

In another development, the Chief Magistrate court of Kabala Doki in Kaduna State has adjourned the Ahmed Musa murder Case again, against 4 kaduna state vigilance service (KADVIS) personnel on charges of criminal conspiring and negligence which cause the death of Ahmed Musa.till 17th April 2025 because the witness and the prosecutor are absent in the court, because the witness and the prosecutor are absent in the court.

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Rivers Assembly Initiates Impeachment Of Gov. Fubara, Deputy

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Rivers State House Of Assembly has passed a resolution raising impeachment allegations of gross misconduct against Governor Siminalayi Fubara and his deputy, Professor Ngozi Odu

The Assembly mandates Clerk to publish in national dailies, letter of allegations of gross misconduct against Governor Sim Fubara and his deputy, Professor Ngozi Odu pursuant to Section 188 of 1999 Constitution (as amended)

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Amnesty International to NYSC: Stop threatening corps member who criticised Tinubu

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Amnesty International has condemned officials of the National Youth Service Corps (NYSC) for allegedly sending threatening messages to a corps member who criticised the President Bola Tinubu-led administration over rising inflation and economic hardship.

Daily Trust had reported how the corps member in a widely circulated video shared on Tiktok expressed frustration over the deteriorating economic conditions in Nigeria.

 

She openly tackled President Tinubu, calling him a “terrible leader,” and questioned what steps the government is taking to ease the suffering of citizens.

After her video gained traction, the serving corps member claimed she began receiving threatening messages, allegedly from NYSC officials.

 

She shared another video in which she was receiving calls from an NYSC official.

In the video, the official could be heard saying, “Are you normal? Keep quiet and bring down the video you posted.”

Reacting, Amnesty International, in a post on X, said instead of threatening her, the authorities “should be prioritizing addressing the country’s economic woes.”

“It is perfectly within her right to express discontent peacefully. Instead of threatening her for her opinions on rampant inflation, the authorities should be prioritizing addressing the country’s economic woes.

“Millions of people in Nigeria are facing extreme poverty. So far, the authorities have failed to put in place effective mitigation measures, leaving millions of people without the hope of getting out of the economic challenges and enjoying their human rights.

“The Nigerian authorities must stop responding with violence and threats to individuals and groups who express dissenting opinions — in utter disregard for Nigerian constitution and international law. Holding and voicing dissenting views is not a crime,” the human rights organisation said.

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