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Why Central Bank Must Bring Down Inflation – Sanusi
Strategic steps must be taken by the Central Bank of Nigeria (CBN) to drive down inflation and halt further erosion of wealth, a former governor of the apex bank has said.
Dr. Muhammad Sanusi advised the incumbent CBN Governor, Dr. Olayemi Cardoso, to initiate policies that will rein in inflation, which he noted had severely impacted the economy.
Sanusi, the 14th Emir of Kano, spoke when he led members of the Impact Investing Community on a courtesy visit to Cardoso at the CBN headquarters in Abuja.
The inflation rate has maintained a long streak of consecutive increases over the months.
By September, it stood at 26.72 per cent after seven consecutive increases – the highest in over a decade.
According to Sanusi, CBN’s activities have a massive impact on lives.
He added that many people often “do not know the impact of a central bank’s works until a central bank fails.”
He acknowledged the importance of long-term planning by the CBN in achieving its goals.
Sanusi emphasised the need for fiscal authorities to focus on agriculture and education, especially for the girl-child.
Expressing delight at his visit to Cardoso, Sanusi pledged continued support by the Impact Investing Community to the CBN.
Cardoso reiterated that under his watch, the bank will focus mainly on the core mandate of price stability.
He restated his team’s determination to change the narrative about the apex bank and make it more efficient.
Cardoso said: “At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.”
He noted that the Impact Investing Community represents an excellent future for Nigeria.
He believes in its potential to transform the country’s economy by tapping into the investment opportunities available.
Commending the quality of leadership at Impact Investing Community and its effort to create awareness as well as build partnerships, the CBN governor said the bank would collaborate with it on frameworks that will encourage investments to drive economic growth.
Chairman of the Impact Investing Community, Mrs. Ibukun Awosika, said they were at the CBN to register their willingness to support what the bank and the Federal Government were doing in changing the local investment climate by redirecting resources to areas where they will make the most positive impact.
According to her, over $200 trillion was available globally for investments, $1 trillion of it for impact investing.
She added that Impact Investing, with a presence in over 41 countries, was willing to blend with traditional investment practitioners.
Stressing the importance of social investment, she sought the support of the CBN to enable the body to achieve its goal.
CBN Deputy Governor in charge of Corporate Services, Dr. Bala Bello, underscored the importance of investments, noting that global capital was moving towards social investment.
He noted that collaboration and effective communication were vital to successfully navigating the prevailing challenges.
Impact investing refers to investments made into companies, organisations, and funds to generate a measurable, beneficial social or environmental impact alongside a financial return.
News
Boko Haram Demands $300,000 Ransom For Abducted Borno Ex-LG Chair, Another Victim
A new video has emerged showing two men reportedly kidnapped by Boko Haram insurgents in Borno State, pleading for assistance to secure their release.
One of the captives, former Biu Local Government Area Chairman Hassan Biu Miringa, revealed that their abductors are demanding a $300,000 ransom.
Miringa said he and another individual were taken in December 2025 and have remained in the custody of the militants.
In the video shared by Zagazola Makama, Miringa introduced himself, saying: “I am Hassan Biu Miringa, former Chairman of Biu Local Government from 2020 to 2022. Four years after my tenure, we were kidnapped by the soldiers of Khilafa about two weeks ago. Alhamdulillah, we are still alive, but we urgently need help to save our lives.”
He added that negotiations with the kidnappers had been underway, with some preliminary agreements reportedly reached.
“We have engaged them on four separate occasions and reached an understanding. We appeal to our leaders, especially Borno State Deputy Governor Alhaji Usman Umar Kadafur, the National Assembly representative for Biu, Kwaya, and Shani Hon. Betera Aliyu, as well as our community leaders, to temper justice with mercy and assist us. We are their children and have been working together,” Miringa said.
He confirmed the ransom demand, explaining that each captive is expected to pay $150,000, totaling $300,000 for their freedom, and pleaded for urgent intervention to reunite with their families.
The video highlights ongoing concerns over kidnappings and insecurity in southern Borno State, which have persisted despite government efforts to curb insurgent activity in the region.
News
How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit
The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.
Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.
The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.
Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.
In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.
Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.
News
Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly
The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.
The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.
This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.
According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).
The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.
“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.
The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.
Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.
The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.
“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.
The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”
It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.
JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.
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