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Naira Scarcity Plot For Interim Govt To Be Led By Retired General, FG Wants Tinubu To Lose Presidential Election — El-Rufai

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The Kaduna State Governor, Nasir El-Rufai, on Thursday described the current scarcity of naira notes as part of an alleged plot to disrupt the forthcoming general elections to ensure an interim government takes over.

The governor made the allegation in a state broadcast.

He alleged that the development was meant to ensure that the presidential candidate of the ruling All Progressives Congress, Bola Tinubu, and other candidates of the party lose.

He claimed that those who lost out in the party’s primaries were behind the plot.

He said, “It is important for the people of Kaduna State, and indeed Nigeria, to know that contrary to the public pronouncements and apparent good intentions, this policy was conceived and sold to the President by officials who completely lost out in the gubernatorial and presidential primaries of the APC in June 2022.

“Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest.

“They also sought to achieve any one or more of the following objectives: create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the party in all the elections; ensure that the cash crunch is so serious, along with the contrived and enduring fuel shortage existing since September 2022, that the 2023 elections do not hold at all, leading to an Interim National Government to be led by a retired Army General; sustain the climate of shortage of fuel, food and other necessities, leading to mass protests, violence and breakdown of law and order that would provide a fertile foundation for a military take-over.”

In pursuit of the objectives, El-Rufai claimed the Central Bank of Nigeria and those he described as “other disgruntled federal officials” had convinced the President that it was fine for ordinary citizens to be dispossessed of their hard-earned money, and starved if need be, while small and medium-sized businesses were deprived of access to their capital, thereby bringing trade and exchange to a grinding halt.

He said all efforts by state governors to modify the implementation of the policy to avoid what they assumed were unintended consequences were unsuccessful.

El-Rufai said politicians that the officials had convinced the President to regard as the real targets of the currency redesign policy have not been impeded in any way by it so far.

He added, “Indeed, two of the presidential candidates and a running mate of the opposition parties own or have preferred access to some of the licensed banks. For that reason and by various clandestine arrangements, these politicians have access to hundreds of millions of these new notes, while the traders, merchants, students, and other citizens are queuing for days to withdraw a few thousand naira just to buy food and necessaries.

“Within two to three weeks of implementation, it was clear to everyone that the architects of this policy can see that it is our people that are being affected and not the politicians. It is quite unfortunate that many politicians who either own banks or have privileged access to money are so insulated from the pains of talakawa that they are recklessly endorsing a policy that is being badly implemented.”

The governor said there was no reason why the old and new notes should not coexist until the old notes are gradually withdrawn over the years as it is done in the United Kingdom, Saudi Arabia, and other countries.

El-Rufai faulted the position of the President on the matter, saying, “The address by the President earlier this (Thursday) morning limiting the legal tender status of old notes to only N200 amounts to total disregard and disobedience of the ruling of February 8 which was extended further yesterday (Wednesday) by the Supreme Court. “The misguided action of the Attorney-General to mislead the President into engaging in this public violation of the order of the highest court of the land shows how desperate the policy architects are to cause national chaos, by showing open contempt for the judiciary.

“The decision to recognise only N200 as legal tender till April that the President announced this morning was offered to the state governments as part of proposals for an out-of-court settlement three days ago.”

BIG STORY

Who Is Afraid of Zacch Adedeji? —– Seun Oloketuyi

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The recent call by a group identifying itself as the Arewa Consultative Youth Movement for the suspension and investigation of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, raises more questions than it answers.

In a period when Nigeria faces profound economic challenges, it is curious that a body supposedly concerned with national progress has chosen to target the one institution that has consistently delivered measurable results. More troubling is the absence of any specific allegation. The group did not name an offence, cite evidence, or establish wrongdoing.

Instead, it issued a vague, ambiguous statement built around innuendo. Such an approach makes clear that this is not an act of patriotism but a sponsored campaign aimed at distracting a key figure in Nigeria’s economic recovery efforts.

At the centre of the storm is a technocrat whose performance is both documented and publicly verifiable. The question, therefore, is simple: Who is afraid of Zacch Adedeji? Record Revenue Performance Under Dr. Adedeji’s leadership, FIRS has delivered the highest revenue figures in Nigeria’s history.

In 2023, the Service collected ₦12.36 trillion, surpassing its target and setting a new national milestone. This performance was exceeded in 2024, with collections reaching over ₦21.6 trillion, far above the revenue benchmark for the year. Cumulatively, between 2023 and 2025, FIRS mobilised ₦47.39 trillion, representing more than 115% of its combined revenue targets. These numbers, widely published across reputable financial platforms demonstrate not just improved collection but renewed fiscal discipline within the Service.

Digital Transformation and Modernised Tax Administration.

One of Adedeji’s most significant achievements is the modernisation of Nigeria’s tax administration system. The upgrade of TaxProMax automated the majority of tax processes, reducing human interference and simplifying compliance for individuals and businesses alike. Additionally, the introduction of the 829# USSD tax service made Nigeria the first African country to allow taxpayers to access essential tax services through basic mobile phones.

The rollout of the National Single Window Project also integrated tax, customs, and port functions, improving trade efficiency and creating new pathways for improved revenue generation.

Expansion of the Tax Base

FIRS under Adedeji aggressively expanded the tax net by focusing on SMEs and informal-sector businesses traditionally outside the formal tax system.

Through digital tools, taxpayer education, and simplified registration processes, thousands of new taxpayers were onboarded, broadening Nigeria’s revenue base and reducing dependence on oil. Institutional Reforms and Improved Staff Welfare During his tenure, FIRS was restructured into functional clusters designed to improve service delivery and reduce bureaucratic bottlenecks. This modern, customer-centric model has significantly enhanced operational efficiency.

In 2024, he approved a substantial salary increase of over 60% for staff, an unprecedented welfare boost that improved staff morale and encouraged better service delivery. Commitment to Transparency and Taxpayer Protection The establishment of a strengthened Anti-Corruption and Transparency Unit (ACTU), in partnership with the ICPC, underscores the Service’s renewed focus on integrity.

Adedeji’s tax philosophy, “We tax prosperity, not poverty” has also guided policies that protect low-income earners while ensuring equitable taxation across economic groups. The Real Motive Behind the Attacks with this level of performance, it is not surprising that vested interests, those who benefited from loopholes, inefficiency, and opacity, now view the reforms at FIRS as a threat. Calls for suspension without evidence suggest that the attacks are less about patriotism and more about stopping a man whose work disrupts the old order.

An attack on Adedeji is, by extension, an attack on the fiscal reforms underpinning President Bola Ahmed Tinubu’s economic agenda. It is therefore imperative for security agencies to investigate the sponsors of these faceless campaigns. Conclusion Nigeria’s revenue system is experiencing its strongest period in over a decade, driven by reforms that are transparent, digitally driven, and effective.

At such a time, attempts to distract the Executive Chairman of FIRS should concern every patriotic Nigerian. The facts are clear, the achievements are verifiable, and the progress is undeniable. So the pressing question remains: Who is afraid of Zacch Adedeji and why?

 

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BIG STORY

We Will Get It Right With Security —- Obasa

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Speaker of the Lagos State House of Assembly, Rt. Hon Mudashiru Obasa has affirmed that with the support of all Nigerians, President Bola Ahmed Tinubu would get it right with his concerted reengineering of the nation’s security architecture.

Speaking at the APC Stakeholders and Progressives Governors Forum meeting held Saturday, December 6, at the Eko Hotel and Suites, Victoria Island, Lagos, Obasa said he did not doubt that President Tinubu and the All Progressives Congress, APC-led federal government, would do all that they can to ensure that they secure the life and property of every Nigerian.

According to Obasa, “We have seen the president in action and how he is innovating and working hard to resolve our many challenges, especially insecurity, and we believe he will get it done. He’s still the man who can do it. That is why we must do everything within our powers to ensure that he is returned in 2027.”

Speaker Obasa teed off with robust commendations for the governors for their shared dedication and commitment to helping President Tinubu resolve Nigeria’s insecurity problem.

He urged them to galvanise their people when they return to their various states to be a part of the solution to Nigeria’s security challenge, and not stay aloof.

Speaker Obasa added that security is not just about the governors, “It is about everybody. We must all be involved in fighting this problem. We must give the President all the support that we can so that he will succeed in his attempts to redirect the trajectory of Nigeria.”

The PGF had converged on Lagos between December 5 and 6 for a meeting convened by the Chairman of the Forum, Senator Hope Uzodimma, Governor of Imo State, and hosted by Governor Babajide Sanwo-Olu of Lagos State.

In a communique read by Governor Uzodinma, the governors passed a vote of confidence on President Tinubu’s administration, and pledged support for his Renewed Hope Agenda and re-election in 2027.

The Forum, according to Governor Uzodinma, reviewed the security situation across the country and expressed appreciation for the improved coordination between federal, state, and local security structures, as well as the courage and sacrifices of security agencies and community volunteers. They also resolved to strengthen local security architecture in all the states.

Governor Uzodinma said that their two-day engagement provided an opportunity to review the nation’s current trajectory, deepen coordination among the governors, and reaffirm their firm support for the Renewed Hope Agenda of President Tinubu. “The PGF commended President Bola Ahmed Tinubu for his steadfast commitment to stabilizing the economy, strengthening national security, and laying the foundations of sustainable growth through the Renewed Hope Agenda,” he said.

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BIG STORY

Nigerian Army Suspends Officer Retirements Amid National Security Emergency

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The Nigerian Army has suspended all statutory and voluntary retirements for certain categories of officers following the nationwide security emergency declared by President Bola Tinubu.

An internal memo dated December 3, signed by Maj. Gen. E. I. Okoro on behalf of the Chief of Army Staff, and sighted by our correspondent, stated that the suspension of retirements is aimed at retaining manpower, experience, and operational capacity as the Armed Forces expand in response to rising insecurity.

The document, referencing the Harmonized Terms and Conditions of Service Officers (HTACOS) 2024, noted that although officers are ordinarily expected to retire upon reaching their age limit, completing 35 years of service, or after repeated promotion or conversion failures, service extension is permissible under Paragraph 3.10(e) in the interest of the military.

The memo partly read: “Military service of a commissioned officer entails a period of unbroken service in the AFN from the date of enlistment or commissioning to the date of retirement. The period of service is determined by conditions enshrined in the HTACOS Officers 2024. These include attainment of age ceilings on various ranks, a maximum length of service of 35 years, and other criteria provided in Paragraphs 11.02(d) and 17.15, among extant regulations.

“Notwithstanding these provisions, Chapter 3.10(e) of HTACOS Officers 2024 allows for the extension of service to officers in the interest of the service.

“The President and Commander-in-Chief declared a nationwide security emergency on November 26, mandating the expansion of the AFN and other security agencies. In line with this, and to rapidly expand manpower, it has become expedient to temporarily suspend all statutory and voluntary retirements from the Nigerian Army with immediate effect.”

According to the circular, the temporary suspension applies to officers who fall into the following categories: officers who failed promotion examinations three times; officers passed over three times at promotion boards; officers who have reached the age ceiling for their ranks; officers who failed conversion boards three times; and officers who have attained 35 years of service.

“Officers in these categories who are not interested in an extension of service are to continue with the normal retirement procedure. Officers desirous of extension should note that upon extension, they are not eligible for career progression, including promotion, career courses, NA sponsorship, self-sponsored courses, secondment, or extra-regimental appointments,” the memo stated.

It directed all commanders to disseminate the directive and manage morale, adding that the policy would be reviewed as the security situation improves.

President Bola Tinubu, on November 26, 2025, declared a nationwide security emergency and directed the military, police, and intelligence agencies to expand recruitment and deploy thousands of additional personnel.

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