Tag:

Central Bank of Nigeria

Busted: How Ecobank MD Jubril Mobolaji Lawal Swindled Nigeria of N1.7 billion Meant For Generating Electricity To Nigerians LeadingReporters

Exposed: Ecobank MD Jubril Mobolaji Lawal fingered in diversion of N1.7 billion meant for power generation

by Leading Reporters February 5, 2024

written by Leading Reporters

Across the Africa continent flies Ecobank Nigeria, courtesy of it being under Ecobank Transnational Incorporated, being the parent company of Ecobank Group. While it rides on the wave of acclaimed public trust that banks with it in Nigeria to defend its success, what Nigerians didn’t know is that Ecobank is one of those that has denied them having constant electricity for years.

Welcome to the sordid but realistic tales of how Ecobank walked away with billions and did nothing. The year was 2015, when the Central Bank of Nigeria (CBN) under the embattled sacked Governor, Godwin Emefiele, without any directive of then President Goodluck Jonathan incorporated a Special Purpose Vehicle called NESI Stabilization Strategy Limited.

What Jonathan initially approved is a stabilization fund to be limited by guarantee in order for NESI to address the problems in the electricity industry to operate for 10 years wherein the fund would have been repaid. To see this noble idea come to pass, some banks were selected, an action which saw Nigerians sleep while the banks owners buga away.

One of the banks selected was Ecobank and indeed committed one of the biggest electricity heist against Nigeria. The Bolaji Lawal led bank over the years engaged in manipulation by unlawfully arranging and collected part of the 1.9535% for participating in the Nigerian Electricity Market Stabilization Facility. These fees were paid to Ecobank in ration of its contribution to the NEMSF disbursement, according to External Auditor’s Notes to the Financial Statement of NESI Stabilization Strategy Limited.

Ecobank Nigeria walked away fraudulently with N1.7 billion without doing anything, one of the highest by the league of banks who perpetrated the fraud. This has been unearthed by the Jim Obazee investigative team, carrying out a fact finding on how the CBN was governed under Emefiele.

In its report to President Bola Tinubu which is in our possession, he indicted Bolaji Lawal and all its Managing Directors from 2015 till date stating that “it is important that all artificial and natural persons involved in this manipulation, to which public funds were plundered, must be held accountable and responsible”.

It went further to make a recommendation to Tinubu that Ecobank should refund the sum of N1.7 billion criminally diverted. That money if converted to today’s money will see Lawal signing away over N13 billion from the bank’s cover due to the fallen exchange rate of N170 at 2015 to N1450 in 2024 open market rates. News credit: SecretsReporters

February 5, 2024 0 comments

Headlines

Falana sues CBN for floating of naira

by Andrew Mailafia August 18, 2023

written by Andrew Mailafia

Human rights lawyer Femi Falana, SAN, has vowed to sue the the Central Bank of Nigeria for floating of the naira.

Stating that the floating is illegal, Falana disclosed that the decision will be challenged in court.

Speaking on Channels Television’s Sunrise Daily, on Friday, August 18, Falana mentioned that according to the CBN Act, the central bank is obligated to set the exchange rate.

“There’s no provision for floating the naira. It’s illegal. You say, ‘The value of the naira will be determined by market forces. That is not there in the law.

“I’ve had to sue the Central Bank of Nigeria at the Federal High Court because Section 16 of the Central Bank Act has imposed a duty on the Central Bank to fix and determine the rate of the naira vis-a-vis other currency,” he said

Noting that Section 20(1) of the CBN Act states that the official legal tender in Nigeria is solely the currency notes issued by the Central Bank, specifically the naira. He further explained that Section 20(5) of the Act deems it an offense, punishable by six months imprisonment, for anyone to use any other currency in Nigeria without the approval of the central bank, Falana stressed that unless government officials take steps to strengthen the naira and establish it as the sole legal tender in Nigeria, our progress will be limited.

He also noted that the Federal Government’s approval of N5 billion for each state and the FCT as palliatives is a temporary measure intended to divert attention.

“They are temporary measures. Some of them are quite diversionary and the people in government have not addressed the root of the crisis, which is the dollarisation of the economy.

“Whatever palliatives that are announced will be eaten up by the dollarisation of the economy.”

August 18, 2023 0 comments

Documents Reveal How Fmr CBN Governor, Emefiele Launder Public Funds Using Family's Account leading Reporters

Headlines

BREAKING: Documents Reveal How Fmr CBN Governor, Emefiele Launder Public Funds Using Family’s Account

by Leading Reporters July 14, 2023

written by Leading Reporters

It is not yet uhuru for the embattled former Central Bank of Nigeria Governor, Mr. Godwin Emefiele has Incriminating documents has revealed high level of corruption, nepotism, favoritism and gross abuse of office while he reigned supreme as the Governor of the Central Bank of Nigeria.

Discreet information gotten from this online revealed that Emefiele laundered money through a company registered in the name of his wife and other members of his family.

According to our findings, the company, Maggo Farms Limited was registered on October 18th 2018, with RC number 1533205 and address as 33, Ikorodu crescent, Dolphin Estate, Lagos State.

Those listed as directors and shareholders are; Magaret Emefiele Dunbiri, Ucheonye Anthony Mary, Godwin Emefiele Pammichukwu Junior and Andrew Emefiele Andres Olisehike.

It was gathered that even though the suspended CBN Governor’s wife claimed to have registered the Maggo Farms Limited in 2018, she actually registered the company on 19th May 2014, few months after the husband was named the substantive CBN Governor with the name, Maggo Farms.

Our findings revealed that instead of using her name, she fraudulently used one Oriekose Augustine as the director. She added another director with the same name but twisted it this time as Oriekose Oriekose Augustine as the second director. Ironically, the Maggo Farms has same 33, Ikorodu crescent, Dolphin Estate, Lagos State as its registered address in CAC with RC number 2301316.

Meanwhile, in Maggo Farms Limited website (www.maggofarms.com), the about us section agreed that “Maggo farms had been in existence since the February 2015”, thus confirming that the one bearing Augustine as director is owned by the Emefiele family.

Investigations revealed that this same Maggo Farms which is a business name with the Emefieles as beneficial owners is what they consistently used to collect the CBN Anchor borrowers fund. The account used in accessing the funds is 1014400833 with Zenith Bank.

The phone number attached to the bank statement to receive alerts is 08179564031. This number incidentally is registered to Mrs. Margaret Emefiele. Similarly, documents revealed that on 5th October 2021, the embattled CBN Governor’s wife secretly registered a company in the United Kingdom, which is not included in CCB asset declaration form.

The company named Coats Investment Group Limited has her and two others namely, Albert Kwabena Williams and Dan Wangi as directors. It has company number 13662708 and registered address as Flat 3, Dexter Court, Diary close, London, SW6 4HA, England. we also unearthed how the governor exercised impunity by collecting double money for himself and his wife from CBN. On November 11, 2020, Godwin Emefiele was paid the sum of N16,181,850 from CBN account into his Zenith Bank account number 2020000064.

It was titled ‘Board holiday pay for self to USA’. On the same day, another N16,181.850 was paid into the same Zenith Bank account belonging to Godwin Emefiele but this time, titled as ‘Board holiday for spouse to USA’.

In another incriminating document, this online medium discovered that despite collecting salaries from CBN, Emefiele received payments from the Nigerian Security Printing and Minting. One of such payments was made on 15th December 2020 to the tune of N9,988,000. More so, it was gathered that Emefiele entrenched NEM Insurance where his younger brother, George Augustine Emefiele is DGM (Marketing) as the major insurance company in CBN/NSPM.

Some of the payments made to the insurance company under Emefiele’s instruction are; on 5th March 2020, the CBN under Emefiele paid NEM Insurance N31,496,300.

On the same day, Emefiele ordered another payment of N135,628,125 from CBN account into NEM Insurance. NSPM on 3rd February 2020 also paid the insurance company N11,340,355. On 31st December 2020, NSPM also paid N31,479,123 while CBN on 10th November 2020 paid N17,938,375 to the company.

Meanwhile, Federal High Court in Abuja on Friday ordered the DSS to release the governor claiming that his detention is not just illegal but null and void. News Credit: Secret Reporters

July 14, 2023 0 comments

Headlines

President Buhari has extended the validity of the old N200 notes till April 10, 2023.

by Leading Reporters February 16, 2023

written by Leading Reporters

President Muhammadu Buhari orders CBN to release the old N200 note into circulation until April 10, 2023, when it will stop being legal tender. He says Nigerians should return all old N1,000 and N500 to the bank.

The president announced this in a national broadcast on Thursday Monday.

“I am addressing you as your democratically elected president to sympathise with you over the hardship being experienced as a result of the naira redesign policy.”

“To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.”

“17. In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
“Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.”

Nigerians have been battling with the scarcity of new naira notes— a development that has led to queues at banking halls, and automated teller machine (ATM) points.

There have been protests in some parts of the country due to the scarcity of new naira notes.

The Central Bank of Nigeria (CBN) had given a deadline of January 31 for the use of old naira notes — but it extended it to February 10.

On February 8, the supreme court temporarily restrained the federal government from banning the use of the old naira notes from February 10, 2023, pending the hearing of the matter on February 15.

Despite the court’s order, Emefiele insisted on the deadline.

The stance of the CBN governor has triggered confusion as filling stations, supermarkets, and other business owners have continued to reject the old naira notes.

On Wednesday, there were protests across the country as banks were destroyed while security operatives reportedly gunned down some persons in Edo State.

Among states were there was crisis are Oyo, Ondo, Kwara, Edo, Benue and Delta.

There are indications that the president would address the issue of the naira scarcity in his speech to Nigerians as against statements issued by his media team.

The president usually address the nation on occasions like Independence Day, Democracy Day, and a few others.

February 16, 2023 0 comments

Business Headlines

CBN: eNaira Records Over 4bn Naira Transactions

by Folarin Kehinde August 26, 2022

written by Folarin Kehinde

The Central Bank of Nigeria (CBN), digital currency, eNaira has recorded 200,000 volumes and four billion Naira value of transactions since its inauguration in 2021.

Mr Godwin Emefiele, the CBN Governor said this on Thursday in Abuja at the grand finale of the “eNaira Hackathon”.

The News Agency of Nigeria (NAN) reports that the hackathon is a CBN’s collaborative initiative with the African Fintec Foundry (AFF).

it is aimed at bringing together teams of talented entrepreneurs, developers, designers, solution developers, problem-solvers and ‘code magicians’ from Africa to develop innovative solutions for improved adoption of the eNaira.

The competition was part of efforts by the CBN to drive financial inclusion, facilitate macroeconomic growth and integrate the Nigerian economy into the world-leading economies through innovation and cutting-edge emerging technologies.

NAN also recalls that the eNaira was inaugurated on Oct. 25, 2021 by President Muhammadu Buhari, making Nigeria the first African country to launch a Central Bank Digital Currency (CBDC).

Emefiele said since its inauguration, eNaira had reached 840,000 downloads, with about 270,000 active wallets comprising more than 252,000 consumer wallets and 17,000 merchant wallets.

According to him, the digital currency will enhance financial inclusion, support poverty reduction, enable direct welfare disbursement to citizens, support a resilient payments ecosystem and improve availability and usability of central bank money.

“The eNaira will also facilitate diaspora remittances, reduce the cost of processing cash, and also reduce cost and improve efficiency of cross-border payment,” he said.

The apex bank governor, however, said that the eNaira was the same Naira with far more possibilities.

“The eNaira will make a significant positive difference to Nigeria and Nigerians. It was also developed to provide Nigerians with a cheap, safe and trusted means of payment.

“It is unlike the offline payments channels like agent networks, USSD, wearables, cards and near field communication technology.

“The eNaira would give access to financial services to underserved and unbanked segments of the population,” he said.

He said that innovative products and services built on the eNaira would enhance Nigerians’ participation in the digital economy and promote further development of a burgeoning Fintech ecosystem.

“To achieve these set out objectives, the project adopted a phased- approach with the first phase focusing on banked users, while the policy objective of the second phase borders around financial inclusion.

“In addition, the eNaira platform possesses an innovation layer for products and services to be built with the aim of enhancing Nigerians’ participation in the digital economy,” he said.

According to Emefiele, the second phase of the project has begun and is intended to drive financial inclusion by onboarding unbanked and underserved users leveraging offline channels.

He said that the CBN was now ready to accommodate unbanked Nigerians in the eNaira platform

“Greater success is envisioned for the project with phase two expected to deliver more gains with a target of about eight million active users based on estimations using the diffusion of innovation model.

“When we launched the eNaira, we promised to increase the level of financial inclusion in the Country because just like the Naira, the eNaira is expected to be accessible to all Nigerians .

“It will provide more possibilities to bring in the unbanked into the digital economy.

” I am pleased to inform you that by next week, Nigerians, both banked and unbanked, will be able to open an eNaira wallet and conduct transactions by simply dialling *997 from their phones,” he said.

According to Mr kingsley Obiora, CBN’s Deputy Governor, Economic Policy, the use of physical cash is gradually getting out of fashion across the globe due to the growth of digital currencies.

“In south Korea, 77 per cent no longer use cash to do payment, while in the Philippines it is 30 per cent.

“In Nigeria, we are also seeing the same decline in the use of cash, the minting of currencies in the CBN has been reducing in the last couple of years.

“So alongside this reduction in the use of cash has also been an explosion in e-business and we have seen the value of e-business grow from 393 billion dollars in 2014 to about 2.4 trillion dollars now.

“If you look at this movement, you will realise that the central banks in the world are responding to yearnings of citizens.

“That is why 96 per cent of central banks in the world are either working on digital currencies or they have done so already,” he said.

Daniel Awe, the Group head, AFF, said that the CBN had transformed from traditional regulator to a smart regulator.

Awe said that the Hackathon was a platform that brings entrepreneurs, coders and product managers together to solve problems and build new business model.

“All over the world, there has been disagreement between innovators and regulators.

“This is because regulators usually look at impact on financial stability, impact of those innovators on consumers as well as the risk, while the innovators look at the opportunity in their ideas.

“However, this CBN is different as it has over the years partnered with innovators that will create jobs and bring value,” he said.

source: vanguard

August 26, 2022 0 comments

Headlines

Mixed Reaction Trails Rumored Sack of CBN Governor, Emefiele

by Folarin Kehinde May 26, 2022

written by Folarin Kehinde

Mixed Reactions has continued to trail the widely circulated media report of the rumoured sack of the Central Bank Governor, Godwin Emefiele on Wednesday.

The Apex Bank, Central Bank of Nigeria denied the sack of its Governor describing the report as an unfounded rumour.

It was rumoured on Wednesday morning that Emefiele had been sacked by Nigeria’s President, Major General Muhammadu Buhari (retd), purportedly for his presidential ambition.

The PUNCH had earlier sought clarification from the CBN’s spokesman, Mr Osita Nwanisiobi, but got no response from him.

However, several papers are quoting Nwanisiobi as denying the trending report, saying, “I heard it just the way you got it too. As far as I am concerned, it’s a rumour. I’m not aware of any sack.”

It would be recalled that Emefiele had on May 9 Emefiele headed to a Federal High Court in Abuja to seek a constitutional interpretation on his non-resignation while pursuing his presidential interests.

It was also revealed that Emefiele is a member of All Progressives Congress in Ika South Local Government Area of Delta State.

Meanwhile, Chairman of Ward 6 in the Ika South Local Government Area of Delta State, Mr Nduka Erikpume, , had said the CBN governor had registered as an APC member.

When asked whether Emefiele had registered in the APC, Erikpume said, “Yes, he has registered since February 2021. He is our member.”

Condemnations have trailed Emefiele’s involvement in politics, with experts saying it could jeopardise the integrity of the country’s financial system.

A Senior Advocate of Nigeria, Kunle Adegoke, in a telephone call with The PUNCH, had said the CBN governor should resign his appointment and become a politician if he intended to contest in the 2023 general elections.

He said, “The governor of the central bank is expected to be impartial and not be driven by his own personal interests or the interests of a political party. Emefiele, as the governor of the Central Bank of Nigeria, represents all Nigerians and in that capacity, he is obliged under the constitution to serve each person irrespective of their political party or affiliation.

“The honourable thing for him to do is to resign if he is the one behind all these calls for him to come and contest. Where he is not the one, he ought to have come out earlier than now because we could see on social media, the branded vehicles and then the claim that farmers have spent N100m to buy him a nomination form of the All Progressives Congress. That is questionable.

“The few farmers who are debtors under the Anchors Borrowers’ Programme cannot now be deploying their resources towards this.”

A former Assistant Director at the CBN, Prof Jonathan Aremu, had also said any political participation by the CBN governor could compromise the integrity of the central bank.

Aremu said, “I am not going to quote the specifics of the CBN Act, but I will give you an objective view of this. Because of the special importance of the central bank, I don’t think it is right for the CBN governor to be political. It is important to have a monetary policy that is relatively seen to be objective because governments come and go.

“If you want to go into politics, for the relative independence of the CBN, then you have to leave the position. When people lose confidence in issues of money, it tends to be a serious issue. In some countries, central bank governors disagree with presidents and resign.”

Some lawyers, however, have argued that the CBN Act provides that Emefiele can only be removed with a two-thirds majority of the Senate.

A precedent was, nevertheless, set with the indefinite suspension of a former CBN Governor, Sanusi Lamido Sanusi, by former President Goodluck Jonathan.

May 26, 2022 0 comments

Headlines

CBN slashes ATM Withdrawal, Inter-bank transfer charges

by Folarin Kehinde January 31, 2022

written by Folarin Kehinde

The Central Bank of Nigeria (CBN) has slashed charges for Automated Teller Machine (ATM) withdrawal and inter-bank transfers.

CBN’s review of the charges was contained in its revised guidelines to charges by banks, other financial institutions and non-bank financial institutions.

ATM withdrawals that attract a service charge of N65 will now be N35 after the third withdrawal within the same month, according to the CBN. It also slashed the interbank transfers to a maximum of N50 per transaction from N300.

CBN has also amended guidelines to charges by banks, other financial institutions (OFIs), and non-bank financial institutions, the CBN has downward reviewed charges for electronic banking transactions and electronic banking transactions.

Chibuzor Efobi, the Director, Financial Policy and Regulation Department, in a circular, said the review was in response to “further evolution in the financial industry in the last few years.”

CBN said the reviewed guidelines include a review of other bank charges to comply with market changes.

The new guideline also contains sections of accountability, responsibility, and sanction regime to directly address instances of excessive unapproved, (arbitrary) charges, CBN said.

CBN notes that the Standing Order charge for intra-bank will be free instead of the N300 contained in the 2017 guideline.

Bills Payment (including bills payment through other e-channels) is negotiable subject to a maximum of N500 per beneficiary payable by sender, a review from the N1,200, or 0.75 percent for a biller or merchant to pay.

Electronic funds transfer has also been reviewed downwards to N10 charge for a transaction below N5000; N26 for the transaction of N5001 to N50,000 while transactions above N50,000 will be charged N50.

Withdrawals on other banks’ ATMs have been reduced from N65 to N35 after the third withdrawal within the same month.

The CBN also reduced ATM bill payments from N100 to N50. Debit card maintenance charges that were N100/month have been removed in the new guideline.

January 31, 2022 0 comments

Business Opinion

Why CBN Rice Production Intervention Fund May Prove A Misplaced Priority Overtime

by Leading Reporters January 27, 2022

written by Leading Reporters

(By Light Shedrack)

Rice is one of Nigeria’s major staple foods. Prior to now, Nigeria spent billions of dollars every year on rice importation from Thailand and India, majorly. To encourage local rice production, the Central Bank of Nigeria CBN came up with intervention schemes, under its Anchor Borrowers Programme (ABP). The scheme is aimed at increasing local rice production which thus would discourage rice importation.

As much noble as the move by the Central Bank of Nigeria looks, there are lots of questions left unanswered such as the environmental impact of the scheme and looming protein deficiency that may hit the country.

This could possibly be because Nigeria is a country that hardly makes long term plans or considers the long term effects of certain policies it pursues. We believe in make-shift and fire-brigade approach to issues of national interest.

While Nigeria sees local rice production as the next big thing, some countries that are hitherto major rice farmers are considering divesting from commercial rice production. India is one of such countries. Priority may soon leave rice for other crops with higher economic value and better environmental impact. India knows that if it continues its commercial rice farming, in the nearest future it would be hit by acute water shortage, or worse still water scarcity.

Research has shown that rice cultivation and production is a major water consumer. Rice must be planted in areas with body of water. Nigeria consumes about 7million tons of rice annually. To produce just one kilogram of rice, about 2500 liters of water is required. Nigeria rice revolution is targeted majorly in the Northern Nigeria, and that axis is currently witnessing acute desert encroachment, untamed insecurity resulting in lull in economic activities. There is as well the case of diminishing water level in Lake Chad, which has not only fueled insecurity but would sure worsen agro-allied businesses and farming.

2022 would witness protein deficiency among Nigerians, especially children. The rising cost of beef and egg would sure mean that most families may not be able to afford these sources of protein. What next could come as the handiest alternative? Beans! Beans are relatively affordable food that are considered rich in protein, carbohydrate and fibre. But how much has Nigeria Government and by extension the Central Bank of Nigeria invested in beans production. Beans production in Nigeria has received little or no government attention or intervention. This could partly be because beans are not elites’ preferred food. Rice is.

Common sense should have revealed to us that Nigerians need more beans than rice now. This is because there is deficiency of protein among the greater number of Nigerians. From 2022, protein-deficiency among Nigerians may worsen. Most people cannot afford beef, egg and other foods rich in protein because of the skyrocketing cost of these essential foods. To make up for this deficiency, beans can easily come handy.

Nigeria economic policies have perennially favoured the elites. In fact, the elites that make up less than ten percent of Nigeria’s population are mostly put into consideration whenever any policy is to be formulated. Better put, the elites make the laws and initiate policies that favour them. Instead of the Bottom-top approach used in policy formulation in most economically viable countries that run inclusive system, Nigeria policy makers are mostly elites who sit in the comfort of their offices and over feast-like sessions, formulate policies that favour the elites.

There are other factors that may overtime prove that the Central Bank Rice Production Intervention schemes may boomerang and hit us worse than it helps us. One of such factors is the environmental effect of rice production, when matched with the reality of climate change. Another is the absence of data, the manipulation and fraud that have characterized the scheme. But let this be a discussion for another day.

Light Shedrack is a serial entrepreneur, and an SME ideation specialist. He writes from Abuja, Nigeria.

January 27, 2022 0 comments

Headlines

Middle Belt Forum Alleges foul play over Mailafia death

by Folarin Kehinde September 20, 2021

written by Folarin Kehinde

The Middle Belt Forum has expressed shock over the death of
former Deputy Governor of the Central Bank of Nigeria (CBN) at the University of Abuja Teaching Hospital Gwagwalada, Abuja.

National Publicity Secretary, Dr. Isuwa Dogo in a statement over the weekend described late Mailafia as someone who relentlessly participated in the activities of the Middle Belt Forum (MBF) and his untimely death has dealt a deadly blow on ethnic nationalities of not only the Middle Belt but the country at large.

Narrating, Dogo stated that “that Dr Mailafia arrived Abuja last Sunday September 12, 2021 from Akure and was received at the Nnamdi Azikiwe International Airport by his wife.

‘On arrival at home, the wife noticed he was not in the best of health conditions and seemed to be suffering from malaria. After three days of treatment without signs of improvement, he went to the CBN Hospital on Friday September 17, 2021 where he was shabily treated. It took the intervention of a senior medic who immediately placed him on oxygen and admitted him.

“Dr Mailafia’s was later given the option of choosing three hospitals: Gwagwalada Hospital, National Hospital and EHA Clinics. The wife opted for the third choice. On arrival at the EHA Clinics, the wife was subjected to yet another moment of anxiety as it took a direct order from the top management of the hospital to accept him.

“After few hours of treatment, the EHA Clinics told the wife that it was expedient to transfer the former CBN Deputy Governor to Gwagwalada as the clinic was not fully equipped to handle the case.

“The wife opposed the decision and insisted that she was opposed to the idea of taking her husband to Gwagwalada. Mailafia’s wife only succumbed when the consultant assured her that nothing bad will happen to her husband.

“Yesterday, Saturday September 18, 2021, Dr Obadiah was transfered to Gwagwalada. on arrival, the name of the doctor that was billed to attend to Dr Mailafia was not on duty. Even when an attempt was made by foreign health consultants to save the situation, the doctor on duty got angry and said he was not obligated to listen to any foreign consultants that had been brought into the matter with the sole purpose of ensuring nothing goes wrong”.

Narrating further, “Wife of the former CBN Deputy Governor was asked to pay the sum of N600’000 as deposit even when it was a referral case, with accruing medical bill to be settled by the CBN. At a point, Dr Mailafia complained over his breathing problems and pleaded with the doctors to place him in a ventilator. The doctors flatly refused.
Even after the doctors declared Dr. Mailafia dead, foreign consultants who were brought into the matter through Dr Mailafia’s son that is living abroad, had directed a family member who is a medical professional, with the wife of the CBN Deputy Governor, to mount pressure on the chest of Dr. Mailafia for resuscitation and thereafter place him on a life support.

“The doctors in Gwagwalada refused all entreaties by the family members of Dr Mailafia to follow the advice of the foreign consultants, insisting that they have already pronounced him dead. Even when the wife could feel the pulse of her husband, the doctor flatly declared there was nothing they could do since they had already pronounced him dead”.

Dogo asserted that while the above narration sums up the circumstances under which Dr Mailafia died, the forum still await the result of the actual cause of his death.

The forum further explained that as a nationalist and patriot that he was, Dr. Mailafia was completely dedicated to the emancipation of ethnic nationalities from the clutches of oppression.

“The economist was never afraid to speak truth to power just as he remained committed to the enthronement of justice and equity to all citizens across ethnic and religious divides”.

“In the twilight of his life, this consummate technocrat and global scholar of repute beamed his searchlight on the raging insecurity ravaging our country. He expressed regrets over government’s incapacity to rein in the activities of insurgents and criminal groups terrorising the nation”.

The Forum recalls his patriotic zeal in standing up for truth and justice. He was never a letdown in being at the forefront of showing the way for national greatness as he was willing to lay down his life for Nigeria.

The Forum is inspired by his altruistic disposition and contributions to national development remain proud of his footprints on the political, economic and social sands of our nation.

“In this period of grief, we extend our sympathy to his immediate family members and pray to the Almighty God to grant each and everyone of them the fortitude to bear the pain of this irreparable loss.

“The death of Dr Mailafia today represents a dark day for not only only the Middle Belt but also for all citizens who yearn for a new dawn for justice in Nigeria”. He added.

September 20, 2021 0 comments