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Investigate N500bn Audio To ‘Open Can Of Worms In CBN’ Says HEDA

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The Human and Environmental Development Agenda (HEDA) has urged President Muhammadu Buhari to launch an investigation into the audio leaking phone conversation of Godwin Emefiele, Governor of Central Bank of Nigeria, on how to cover up stolen N500 billion.

HEDA, a civil society group, said that an investigation if conducted would reveal many other hidden activities going on in the CBN.

SaharaReporters had exclusively reported how Emefiele; Adamu Lamatek, CBN Deputy Governor; and other top officials in CBN, stole and spent N500bn from the country’s account while finding a way to frantically cover it up.

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CAUGHT ON TAPE: How Central Bank Governor Emefiele, Deputy Adamu And Top Officials Discussed How To Cover-Up N500bn Which They Stole From The CBN


The CBN, in a hasty report, however, claimed that no money is missing from the apex bank.

Reacting, Olanrewaju Suraj, Chairman of HEDA, said that the audio is a unique opportunity to purge the CBN of its bad eggs while adding that the worst that can be done is for the President to ignore the issue.

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UPDATE: CBN Admits Authenticity Of Audio Conversation Between Emefiele, Adamu And Top Officials Covering Up Stolen N500bn


He said, “The worst a country can do is to ignore serious allegations of corruption against the apex bank which is expected to be a role model for best financial practices. In this case, the CBN topmost officials were caught on tape discussing a failed transaction to the tune of N500 billion. The minimum Nigerians can demand is for a high-level inquiry to the whole affair. We are convinced this will open up many more cans of worms.

“Even if the funds loans for states, it was important to know if the loans were this non tax ways and means. It is important to know how the CBN expected the states to pay back the loans and this follows the pertinent question whether the CBN should give out loans fully aware that it will be difficult to pay back the loans except to deduct from Federal Allocations.

“It is also important to know the impact of the loans on the exchange rate of the Naira.

“The N500billion has also raised issues about how much loans have been inherited by the CBN considering others like the N5.3 Trillion AMCON bond inherited by the CBN where assets are difficult to recover. As at present, AMCON has been able to recover only very little.

Suraj also stated that the CBN in its explanation failed to address whether the audio reflects what is going on in the apex bank adding that Nigerians deserve to know how the loan of 2015 only affects the book in 2018. 

“Nigerians need to know the CBN officials involved in the transaction. Nigerians wish to know if there are other similar transactions involving CBN officials in the past or at present.”

He posited that the stolen 500bn allegation would represent one of the biggest litmus tests for President Mohammadu Buhari in his fight against corruption.

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‘I Am Afraid Of The Violent Revolution Of The Poor’, Says Dino Melaye

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Dino Melaye, senator representing Kogi West Senatorial District has expressed fear of an imminent revolution against Nigeria’s ruling class.

Melaye who is infamous for his ostentatious lifestyle expressed his concern while tweeting @dino_melaye on Friday morning. 

His tweet reads: “I am afraid of the revenge of the poor, It happened in Russia, France and recently in Sudan.

“It can happen in Nigeria. Housing segregation put us the elite in jeopardy. Ikoyi, Banana, Maitama, Asokoro, etc. Our leaders + me beware of violent revolution. Perilous times loading”.

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South African, Three British Killed In Dubai Plane Crash

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Three people have died after a plane crashed close to Dubai Airport on Thursday. 

A South African and three British passengers aboard the plane died. 

The aircraft, a UK-registered Diamond is owned by US tech giant, Honeywell.

Civil aviation authorities in Dubai said: “The four-seat plane crashed while on a mission to calibrate terrestrial navigation systems at the airport, with all crew members, three British, and one South African, killed.

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NANS Vows To Engage In Showdown With Akeredolu Over Hike In Tuition Fee

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The National Association of Nigerian Students (NANS) has rejected the increment of the tuition fee of Ondo State tertiary institutions by Governor Rotimi Akeredolu.

The students’ group also said it would resist any form of intimidation or threat against any tertiary institution student in the state.

Danielson Akpan, National President of NANS, in a press statement on Thursday, describing the increase as commercialization of education said, “we condemn in totality the management of the state-owned institutions, which joined the governor in the inglorious journey, especially the Vice-Chancellor of Adekunle Ajasin University, Akungba-Akoko (AAUA), Prof. Igbekele Ajibefun that two weeks ago implemented the policy of no school fees, no test/examination, which led to the closure of the institution following the students’ vehement resistance to the hike in their school fees.

“How can we explain that a supposed progressive government increased arbitrarily the school fees of Adekunle Ajasin University from N33, 000 to N150, 000, while that of the Rufus Giwa Polytechnic, Owo was increased from N63,000 to N108,000, and the students of the Ondo State University of Science and Technology are to pay N200,000 instead of N70,000 they were paying before the Governor Akeredolu assumed office. 

It further explained that previous administration before Governor Akeredolu made education affordable for everyone in the state.

“Without any dubiety, before his emergence as the Governor of Ondo State, education since 1999 under the late Governor Adebayo Adefarati; the late Dr. Olusegun Agagu and Dr. Olusegun Mimiko was free from primary to secondary level,” he said.

Akpan urged Akeredolu to return the tuition fee to what it was rather than making it a means for making money for the administration in the expense of the poor.

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