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Tinubu: Fuel Scarcity, Naira Redesign Ploy to Sabotage Election

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All Progressives Congress (APC) standard bearer Asiwaju Bola Ahmed Tinubu yesterday reflected on the fuel scarcity and the naira design crisis, which have attracted condemnation by many Nigerians.

He said the petroleum scarcity and complaints about currency redesign were plots by unpatriotic elements and saboteurs to embarrass the Buhari administration and scuttle the proposed elections.

But, the APC candidate, who said the tricks will collapse, fired salvos at the opposition Peoples Democratic Party (PDP), saying that it will be defeated on poll day.

Tinubu said reminiscent of the 2015 and 2019 elections, the PDP will fail in next month’s polls.

He urged Nigerians to anticipate an electoral revolution on February 25, adding that prospective voters should get their Permanent Voter Cards (PVCs) ready to elect him as the best candidate for president.

Tinubu said his blueprint, which offers solutions to many pressing challenges confronting the country, will be implemented faithfully.

He emphasised that the path to the future will be charted by the electorate on election day when they make the right choice.

Tinubu promised to end the perennial fuel scarcity and restore order to the troubled oil and gas sector at a rally in Abeokuta, the capital of Ogun State.

The APC candidate urged the people to re-elect Governor Dapo Abiodun, and the senatorial, House of Representatives and House of Assembly candidates of the party.

He said: “Vote all the way. Governor Dapo Abiodun’s second term bid is guaranteed.”

Tinubu noted that opposition parties were exploiting the fuel scarcity and complaints about the naira redesign to campaign against the ruling party.

The former Lagos State governor, who spoke in English and Yoruba, said: “I came to appeal and solicit for your votes. This election is a revolution. We will use superior revolution and PVCs to get power.

“They are using fuel scarcity to distract Nigerians. I assure you, it will be a thing of the past. They are hoarding fuel and new naira notes to frustrate Nigerians. They don’t want the election.

“I will reduce the price of fuel. Be rest assured that I will solve the fuel crisis. Let them keep the fuel; keep hoarding the money; change the money. We shall defeat them. PDP will fail again, it doesn’t matter whatever they do.”

He added: “Great Nigerian youth, this is a revolution. This election is a revolution. They think they can bamboozle us or confuse us with fuel scarcity. We shall bring the fuel price down. They didn’t want this election, but they have failed.”

Tinubu said in the first 24 months of his government, one million ICT jobs will be provided.

Exuding confidence and optimism, he said electoral revolution was in the offing, advising voters to vote for him and other APC candidates in the February and March elections.

Tinubu, accompanied by his running mate, Senator Kashim Shettima, addressed a carnival-like rally at the Moshood Kashimawo Olawale Abiola International Stadium, Kuto, Abeokuta, Ogun State capital, where party faithful and supporters were in one accord.

Joy was bold on the faces of Tinubu and other party leaders as they were ushered into the stadium by a huge crowd that had waited for them for hours.

Party supporters who were decked in various attires and carrying banners supporting Abiodun and senatorial candidates Salisu Suhaib (Ogun Central), Senator Solomon Olamilekan Adeola (West) and former Governor Gbenga Daniel (East) sand and danced.

On the podium was the ace fuji musician, Chief Ayinde Wasiu, who thrilled the crowd with philosophical songs.

Nollywood actors and actresses, including Jide Kosoko, Hassan Ogogo, Foluke Daramola, Yinka Quadri, Fathia Balogun, Saidi Balogun and Remi Surutu, also stormed the venue to entertain the crowd.

The governor and parliamentary candidates received party flags from the party leadership.

Prominent Southwest leaders showed up in solidarity with the governor, attesting to his achievements in the last three and half years, and showcasing his manifestos for a brighter future.

At the special rally were House of Representatives Speaker Femi Gbajabiamila, Lagos State Governor Babajide Sanwo-Olu, his wife, Dr. Ibijoke, Kwara State Governor AbdulRahmaan AbdulRazaq, Ekiti State Governor Biodun Oyebanji, Lagos State Deputy Governor Femi Hamzat, his wife, Oluremi, Ondo State Deputy Governor Lucky Aiyedatiwa who represented Governor Rotimi Akeredolu, former Ogun State Governor Gbenga Daniel, former interim National Chairman of the APC Chief Bisi Akande, former Ekiti State Governor Kayode Fayemi, former Osun State Governor Gboyega Oyetola, former APC National Chairman who is also the Deputy Director-General of the presidential campaign council, Comrade Adams Oshiomhole, and Ogun APC leader, Aremo Olusegun Osoba.

The rally was also witnessed by APC National Secretary Iyiola Omisore, National Women Leader Betta Edu, National Youth Leader Dayo Israel, one-time Lagos State Finance Commissioner Wale Edun; Lagos House of Assembly Speaker Mudashiru Obasa; Seyi Tinubu, Jumoke Okoya-Thomas, Segun Erewa, Senator Gbenga Obadara, Otunba Femi Pedro, Senator Gbenga Kaka, Senator Ganiyu Solomon, Ijaloja-General Folasade Tinubu-Ojo, Abiodun Akinlade, former Ogun State Deputy Governors Yetunde Onanuga and Salmot Badru; and former Ogun State House of Assembly Speaker Saraj Adekunbi.

Senator Ibikunle Amosun, former governor of Ogun State, was absent. The event coincided with his 65th birthday.

A staunch supporter of Tinubu, he had in a message wished the Jagaban Borgu a successful rally in the state.

Tinubu praised the party supporters for their commitment, noting that they trooped out in large numbers, despite the current fuel scarcity.

Speaking to the youth, the APC candidate said they will enjoy quality education, not truncated by strikes, and jobs after graduation.

He said: “I guarantee you one thing; there will be student loans. Nobody will drop out of university because of school fees; nobody will have to repeat one class for eight years and not graduate. We will make a four-year course four years course.

“A Tinubu administration will create over one million jobs in ICT in the next 24 months.

“The fine and skilled graduates of the Ogun Tech Hub will be able to find work as they continue to contribute towards our overall economic well-being.”

On his industrial policy, Tinubu said: “My industrial policy will carry you to the finish line. My plan is to deploy all available measures, from tax credits and youth employment incentives to tariffs to affordable loans and investment so that your industrial base is strengthened, broadened and widened.

“This will produce more wealth and valuable goods, improving the living standards of all Nigerians. It will also spur such job creation in Ogun that everyone looking for work will be able to find it. We will seek to cut youth unemployment nationwide by a third.

“Here, in industrially active Ogun, the decline in the jobless rate will be even more than that.

“We shall invest in infrastructure in such a manner that all aspects of your daily lives will be touched.

“Roads and public transportation will be augmented, reducing traffic congestion and allowing you to go from home to work or to the market faster, cheaper and safer.”

The standard bearer also promised to revive dead factories in the state through investments in power generation.

Acknowledging Ogun’s proximity to Lagos, Tinubu promised to create Ogun agricultural and industrial hubs, while working with local farmers to increase the production and exportation of agricultural produce.

He said: “Rice, corn, plantain cocoa and palm kernels from Ogun will be more actively traded.

“Moreover, we shall spur investment in the agro-allied business to create additional jobs while also generating more income for our local, state and national economies.

“We will support other drivers of value within the start-up ecosystem, including technology hubs and parks.

“Ogun is truly a place of innovation and growth for it is the home of many great local and international factories including Dangote Cement, Nestle, Lafarge Cement, and Procter & Gamble.

“As we become a nation of producers and not just consumers, Ogun State will play a critical role.

“We will support the development of the best that the modern digital and IT-driven sectors have to offer.

“We will provide the complementary infrastructure required for growth, including wider internet connectivity.”

Tinubu added: “With innovation, courage and creativity, we will harness modern technology to create jobs and provide goods and services that will unlock greater prosperity.

“By harmonising the National Infrastructure Policy with the National Industrial Policy, we will develop key sectors and spur economic growth.

“Our goal is to grow our industrial base, encourage industries vital to national development and become a global contender.”

Tinubu drew a correlation between security and socio-economic development, promising to make the nation safe and habitable for all.

He stressed: “As we work towards achieving overall peace and stability, we will continue to strengthen the economy and renew the confidence in our citizens of a home where they can live and thrive.

“With regard to security, we will ensure that Ogun continues to be a safe and peaceful state. Our security policy is bold yet wise and pragmatic. We shall keep trouble from coming to you. We shall pursue terrorists, kidnappers and criminals where they are.”

An excited Abiodun, accompanied by his deputy, Noimot Oyedele, urged the people of Ogun to look at Tinubu’s track record, which had placed him above other candidates, and deliver bloc votes to him.

He assured Tinubu and Shettima of a 100 per cent vote in Ogun State.

He said: “Asiwaju was a senator. So, he is knowledgeable in the area of the country’s laws.

“He became the governor of Lagos State and transformed it into the biggest economy in Africa.

“He then brought up successors who have worked on the template he put in place to continue to bring progress in Lagos.

“This is the man that now wants to replicate the same in Nigeria and bring joy to our faces. None of the other candidates can be compared to him in any way.

“I want to urge you to go and get your PVCs because that is the only way you can vote in Asiwaju Bola Tinubu, Dapo Abiodun and other candidates.”

Osoba urged the people to vote for “City Boy” Tinubu to enable him to replicate at the national level all he has achieved in Lagos State.

He noted that Lagos had contributed to the success of prominent Nigerians from the six geo-political zones, including the Ojukwus, Dantatas, and Okotie-Ebohs, adding that now is the time to pay the state back by supporting Tinubu.

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EXPLOSIVE: How Titan Trust Bank allegedly used Union Bank’s assets to secure $300m takeover deal

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What was sold to Nigerians in May 2022 as a clean and powerful takeover is now looking like something far more troubling.

When Titan Trust Bank announced it had acquired Union Bank of Nigeria, a 100+ year-old institution, the story was simple: a young bank buying a legacy giant. But fresh documents are now pointing to a shocking twist that raises serious questions about how the deal was actually done.

According to findings, Titan Trust Bank allegedly secured a $300 million loan from African Export-Import Bank (Afreximbank) to fund the acquisition of Union Bank of Nigeria. On paper, Titan Trust Bank was the borrower. But in reality, the collateral reportedly included shares, treasury bills, and assets belonging to Union Bank itself.

Let that sink in: the bank being acquired was allegedly used to secure the loan that bought it. Titan Trust Bank—linked to Rahul Savara and Cornelius Vink— is believed to have engineered a scheme so bold it’s almost unbelievable. The plan? Have Union Bank allegedly repay the very illegal loan used to purchase it—using depositors’ funds! If allowed to succeed, the outcome is stark: TitanTrust Bank’s shareholders would end up owning one of Nigeria’s oldest banks for free!

Even more alarming is the alleged complicity of Godwin Emefiele, then Governor of the Central Bank of Nigeria (CBN), who is said to have turned a wilful blind eye to a deal that flew in the face of the CBN’s strict rules against using borrowed funds to acquire Nigerian banks.

It is unbelievable that Godwin Emefiele would allow an inconsequential bank like Titan Trust Bank to plunge a legacy and systemically important bank like Union Bank into a huge and needless debt – just to satisfy the greed of the owners of Titan Trust Bank.

The  Afreximbank loan is reportedly structured in a manner that will force Union Bank to keep using its depositors’ funds to repay the unlawful loan.

By the third quarter of 2025, the situation had reportedly worsened. Exchange rate shocks and rising interest costs pushed the total exposure to over ₦500 billion. What started as a $300 million facility ballooned into a massive financial burden.

It gets deeper. An audit later allegedly described the acquisition/loan arrangement as “unethical financial engineering.” The audit allegedly pointed to possible misuse of foreign loans, questionable financial reporting and improper withdrawals from customer funds.

The fallout has already begun. Following leadership changes at the CBN, the board and management of Union Bank were removed in January 2024. That decision is now being contested in court, adding another layer of controversy to an already explosive situation.

Behind the scenes, ownership of Titan Trust Bank also raises eyebrows. The bank, incorporated in 2018, is largely owned by Dubai-based firms linked to powerful business interests, including individuals such as Rahul Savara and Cornelius Vink.

This is no longer just a banking story. It is a test of transparency, regulation and accountability.
 
If these allegations hold true, then one question refuses to go away: Who really paid for the takeover of Union Bank and at what cost to depositors?

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Oyo 2027: Adelabu Quits As Power Minister To Focus On Guber Race

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The Minister of Power, Adebayo Adelabu has formally resigned from his position in the Federal Government to pursue his governorship ambition in Oyo State.

In a resignation letter dated April 22, 2026, and addressed to the President, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State.

The letter, routed through the Office of the Secretary to the Government of the Federation, stated that he was stepping down with “a deep sense of honour and profound gratitude.”

He wrote, “I write with a deep sense of honour and profound gratitude to formally tender my resignation as the Honourable Minister of Power of the Federal Republic of Nigeria. This resignation is to take effect on 30th April 2026, in order to allow sufficient time for a smooth and orderly handover of responsibilities.”

Adelabu thanked the President for the opportunity to serve, describing his appointment as a privilege.

He said, “Your Excellency, I remain sincerely grateful for the privilege and confidence you reposed in me by appointing me to serve our great nation in this capacity.

“It has been a rare honour to contribute to national development under your leadership and to play a role in advancing reforms in the power sector—one of the most critical foundations of Nigeria’s industrial growth and economic transformation.”

The former minister said his resignation was to enable him focus fully on his governorship ambition in Oyo State, citing provisions of the amended electoral law.

He added, “My decision to step down is informed by my intention to focus fully on my gubernatorial ambition in Oyo State. This aspiration, which dates back to 2016 during my service as Deputy Governor of the Central Bank of Nigeria, ultimately led to my voluntary resignation from the Central Bank in 2018 in order to pursue the same goal.”

“In line with the provisions of the Amended Electoral Act 2026, which preclude political office holders from contesting elections, I consider it both appropriate and necessary to resign at this time.”

Adelabu’s exit marks a major political development ahead of the next electoral cycle, particularly in Oyo State, where he is expected to contest the governorship election.

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Wale Edun, Musa Dangiwa Resigned Voluntarily, Not Sacked – Presidency

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The Presidency has clarified that Wale Edun (former Finance Minister) and Ahmed Musa Dangiwa (former Housing Minister) voluntarily resigned from their positions and were not sacked by President Tinubu.

In a statement released this evening April 22, presidential media aide, Bayo Onanuga, said that contrary to public opinions, Wale Edun resigned on health grounds while Dangiwa also tendered his resignation and thanked the President for the opportunity given him to serve in the Federal Executive Council.

Onanuga stated that Edun, who clocked 70 on Monday and has battled recent ill health, fittingly submitted his resignation letter on his birthday, thanking the President for the opportunity to serve Nigeria.

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda, Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected. I wish you and the administration every success in the future” he wrote

Onanuga stated that on Tuesday, before the Office of the Secretary of the Government of the Federation announced his departure from the Cabinet, Edun paid a valedictory visit to the President at the Villa and held an hour-long discussion with the president and then left to focus on his private businesses.

The presidential aide stated that President Tinubu has expressed deep appreciation to Edun and Dangiwa for their dedicated service and significant contributions to the administration’s economic reform programme and wished them continued success in their future endeavours.

‘’In the same vein, the President has urged the new Minister of Finance, Taiwo Oyedele, to consolidate ongoing reforms and advance the administration’s fiscal and economic objectives with renewed focus, discipline, and innovation.

President Tinubu will shortly send the ministerial nominee for housing, Muttaqha Rabe Darma, also from Katsina, like Dangiwa, to the Senate for confirmation” the statement concluded

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