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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.

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“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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Breaking:Kano Deputy Governor Resigns

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Comrade Aminu Abdulsalam Gwarzo Former Kano state Deputy Governor

 

The Kwankwasiyya Movement has announced the resignation of the Deputy Governor of Kano State Comrade Aminu Abdulsalam Gwarzo, stating that the decision was formally communicated to the public in a press release issued on Friday and signed by its spokesperson, Dr. Habibu Sale Mohammed.

According to the statement, the resignation was taken “in the overall interest of the people and the stability of governance” in the state, with the movement noting that recent developments had significantly limited the Deputy Governor’s ability to fully discharge the responsibilities of the office.

The movement also addressed the ongoing issues involving the Kano State House of Assembly, emphasizing that the Deputy Governor’s decision to step down should not be interpreted as an admission of any allegations raised against him, and insisting that he continues to maintain his innocence.

Describing the move as one of “statesmanship,” the statement said the resignation was intended to reduce political tension and prevent further disruptions to governance and development efforts in Kano State, while demonstrating a commitment to peace and political maturity.

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The Kwankwasiyya Movement further disclosed that the former Deputy Governor plans to redirect his focus toward strengthening the movement’s internal structures and strategies, particularly as political actors begin positioning ahead of Nigeria’s 2027 general elections.

The statement added that this renewed engagement would involve rebuilding party frameworks and pursuing strategic realignments aimed at promoting what it described as people-oriented leadership, social justice, and sustainable development.

The movement called on its supporters and residents of Kano State to remain calm, law-abiding, and committed to democratic principles, assuring the public that additional details regarding the resignation would be communicated in due course, according to the spokesperson.

 

Comrade Aminu Abdulsalam Gwarzo the Deputy Governor has been enmeshed in a political battle with his boss Governor Abba Kabir Yusuf since the Governor defected to the All Progressives Congress without the blessing of the NNPP National leader Senator Rabiu Musa Kwankwaso.

 

Recently the Kano state House of Assembly has issued Impeachment notice on Comrade Aminu Abdulsalam Gwarzo over allegation of corruption.

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Hajiya Umma El-Rufai, Mother of Former Kaduna Governor, Passes Away

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By Yusuf Danjuma Yunusa

Hajiya Umma El-Rufai, the mother of former Kaduna State governor, Mallam Nasir El-Rufai, has died.

According to family sources, she passed away on Friday afternoon. While details surrounding her death remain unclear at this time, the family has since confirmed the sad event.

The announcement was made public by her grandson, Bello El-Rufai, in a statement shared on Facebook. The statement read:

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“Inna lillahi wa inna ilayhi raji’un. From Allah SWT we came and to Him we shall all return.

I would like to inform the public of the demise of my grandmother, Hajiya Umma El-Rufai, who passed away a few hours ago.

She is the biological mother of our father, Mallam Nasir El-Rufai. We are grateful for the life she lived and pray that Allah SWT bless her gentle soul.

May He bless the souls of the parents we have lost. On behalf of our family, we seek your prayers. Thank you.”

The family is expected to release further details regarding funeral arrangements in due course.

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ASUU Threatens Nationwide Shutdown

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By Yusuf Danjuma Yunusa

The Academic Staff Union of Universities has warned the Federal Government of Nigeria to immediately implement the newly approved salary structure for university lecturers or face a possible nationwide shutdown of public universities.

The union issued a four-day ultimatum on Thursday, with its president, Christopher Piwuna, saying failure to act within the deadline would trigger a strong response.

Speaking at Sa’adu Zungur University in Bauchi State, Piwuna said the government must begin payment under the new salary arrangement without further delay.

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“We have issued a four-day ultimatum from today to the federal government to commence payment of the newly approved salary structure. Failure to comply will attract a strong response from the union,” he said.

The warning comes months after ASUU and the federal government signed a renegotiated agreement in January, aimed at resolving long-standing disputes and preventing the recurring strikes that have plagued Nigeria’s university system.

At the heart of the agreement is a revised salary structure designed to improve lecturers’ welfare and finally address issues stemming from the controversial 2009 FG-ASUU pact, which remained largely unimplemented for years.

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