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Naira swap crisis: Akeredolu pens letter to Buhari, asks president to act like a statesman, halt seamless drift

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Ondo State Governor, Rotimi Akeredolu, asked President Muhammadu Buhari to play the role of a statesman at this crucial moment by halting the implementation of the currency swap policy.

The governor, in an open letter to the president, noted that the implementation of the policy has failed and must be reversed to save the country from more crises.

Akeredolu added that there is no shame in rescinding a decision adjudged not only unpopular and counter-productive but also bears the insidious seeds of potential conflagration in the land.

The full letter from the governor below:

The crises engendered by the policy of the Central Bank of Nigeria to redesign some currency notes, threaten to disrupt, not only the forthcoming general elections. The events of the past days, culminating in the intervention of the apex court in the land, and the increasing gale of violence sweeping through the country, portend serious danger to the current democratic governance. Consequently, this period invites all patriots to speak out with a view to proffering practicable solutions and not project cheap partisan interests.

I seize this opportunity to appeal to the President and Commander-in-Chief of the Armed Forces, President Muhammadu Buhari, GCFR, to play the role of a Statesman at this crucial moment. It is apparent that the crises, which the current policy on currency swap has created, continue to spiral menacingly.

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There is incontrovertible evidence bordering on miscalculation, error of judgement and/or disinformation on the part of the policy makers, especially the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on the failed implementation of the policy, the effect of which compels the whole country to groan, immeasurably, at present.

There is hardly anyone who contends with either the statutory functions of the Central Bank of Nigeria or the occupier of the office of its Governor, one of which is the monetary policy. It is also not debatable that the President and the Commander-in-Chief of the Armed Forces of Nigeria is empowered, under our law, to exercise certain executive power. It can, however, not be the original intendment of the drafters of the relevant statutes that the implementation of any policy should occasion widespread hardship and pervasive agony in the land.

The safety of the people is the supreme law. Any measure, purportedly designed to ameliorate their conditions, must not reduce the entire populace to a beggarly existence. There is pervasive discontent in the land. A policy, presented as currency swap, must not be construed by both the reasonable members and people of average intelligence in the society to convey the deplorable impression of contrived subterfuge manifest in the official confiscation of legitimate deposits of the people in banks, as a counter measure against electoral malfeasance, terrorism and banditry.

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Desirable as the policy appears to be, its implementation excites curiosity as regards the real motive of its drivers, especially at this time when the conduct of general elections is almost here. The mere knowledge that the N1000 and N500 notes represented 82% of the currency in circulation and that the N200 note, whose validity has been extended, by fiat, for another 60 days, represented 7%, expose the mendacious slant in the advice given to Mr President. This counsel clearly misrepresented, deliberately, the facts as they existed before the commencement of the implementation of the policy.

The implementation of this policy has been woeful despite claims to the contrary. The suffering of the masses, occasioned by the non-availability of new notes to replace the old ones, equally decreed out of existence by presidential fiat in contravention of the CBN Act, 2007, could have been averted if the strategy of a gradual and systematic withdrawal of the old currency notes had been adopted. I make bold to assert that the unfolding events across the country show that the policy has failed significantly. It is, therefore, expected that the President will halt this needless drift into the abyss of chaos, more so, when the ruling of highest court still subsists.

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I call on the President to allow both the old and new notes co-exist until such a time when normalcy returns to the country. It will be a fitting parting gift for the people of this country, especially the downtrodden, who feel the negative impact of the poorly implemented policy. While the reasons adduced for the policy appear legitimate, there can be no justification for the confiscation of the lawful earnings of Nigerians. The negative impact which the mediocre and, I dare say, mischievous implementation of the policy by the Governor of the Central Bank of Nigeria is having on the poor people and small business owners defeats all the good programmes of the Federal Government designed to elevate as many people as possible out of the morass of poverty.

There is no shame in rescinding a decision adjudged not only unpopular and counter-productive but which also bears the insidious seeds of potential conflagration in the land, one of the ostensible reasons for this ill-conceived policy.

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Good morning! Nigerian Newspapers Headlines: NDC dissociates itself from 59-member presidential campaign council unveiled by Obi-Kwankwaso movement

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1. The leadership of the Nigeria Democratic Congress (NDC) has distanced itself from the 59-member presidential campaign council constituted by OK Movement, a support group for Peter Obi, presidential candidate of the party, and his running mate, Rabiu Musa Kwankwaso.

In a statement on Saturday, Cleopas Moses, NDC national chairman, said the list did not emanate from the party and should be disregarded.


2. Former Senior Special Assistant Media and Publicity to the late President Muhammadu Buhari, Mallam Garba Shehu, said yesterday that the litigation instituted against Nigeria by Sunrise Power and Transmission Company at the International Chamber of Commerce (ICC) tribunal in Paris was doomed from the outset. 
Garba, who personally attended the January 15, 2025 sitting of the tribunal in the French capital, said it was clear from day one that Sunrise and its promoter Leno Adesanya “would lose this case following the failure of all the witnesses they invited, including, of course, a beautiful lady from Senegal allegedly providing comfort to one of their government contacts.

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3. The Presidency yesterday knocked back economic proposals by the presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar. It asked him to take the proposals to Nigerians on his campaign trail rather than seeking to dictate how President Bola Tinubu should govern the country.

4. The Nigeria Hydrological Services Agency (NIHSA) has forecast a high risk of riverine flooding across 15 states between September 19 to 25.
In its national flood advisory issued on Friday, the agency said rising river levels could trigger flooding in communities located on floodplains during the seven-day period.
The affected states are Imo, Cross River, Ebonyi, Benue, Anambra, Akwa Ibom, Lagos, Rivers, Edo, Kogi, Taraba, Delta, Bayelsa, Enugu and Abia.

5. Delta State Police Command has arrested a suspect after its personnel intercepted a vehicle conveying military camouflage uniforms, boots and hats, as well as cartons of suspected Tramadol and other illicit drugs. The vehicle, a green Toyota Sienna with registration number KP 527 AAA, was intercepted by operatives of the command’s Anti-Cult Unit, Asaba, along the Onitsha-Ondo route on Friday.

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6. Police in Rivers State have begun an investigation into the killing of a father of four, Kamadioye Krama, by gunmen in Emulation community, Abua/Odual Local Government Area. The spokesperson for the State Police Command, Blessing Agabe, confirmed the incident, stating that an investigation was ongoing to apprehend the culprits and bring them to book.

7. President Bola Tinubu has said that, from October 1, commuters across Nigeria must begin to see measurable reductions in transportation fares, as he has directed all 36 states to accelerate the National Affordable CNG Transit Programme. In a statement personally signed and released on Saturday, September 19, Tinubu said the push followed his August 27 meeting with state governors.

8. The Nigeria Security and Civil Defence Corps, NSCDC, has deployed Abdulhamid Kabara as the new commandant of its Niger State Command following the deaths of 37 suspected illegal miners in custody. Kabara replaces Suberu Aniviye, who was suspended as Niger NSCDC commandant after the 37 suspects died in Minna, the state capital, on Thursday.

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9. The Northern Senators Forum on Saturday called for an immediate, transparent and independent investigation into the deaths of 37 young Nigerians in the custody of the Nigeria Security and Civil Defence Corps, NSCDC, in Minna, Niger State. It described the circumstances surrounding the occurrence as “deeply disturbing and unacceptable.”

10. The Minister of Interior, Olubunmi Tunji-Ojo, has suspended the Niger State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Suberu Aniviye, and 20 other officers following the deaths of 37 suspected illegal miners in the Corps’ custody. The officers were suspended pending the outcome of an independent investigation into the deaths, which occurred on Thursday, September 17, 2026. The Ministry of Interior announced the development in a statement signed by Tunji-Ojo on Saturday

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Keyamo, Sunday Dare knock Atiku for addressing President Tinubu as ‘Bola’

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  The minister of aviation, Festus Keyamo, and the special adviser to President Bola Tinubu on media and public communication, Sunday Dare, have criticised former Vice-President Atiku Abubakar for referring to the President as “Bola”.

Keyamo described Atiku’s use of Tinubu’s first name as “disrespectful and discourteous”.

“The continuous reference to President Bola Ahmed Tinubu by His Excellency, ex Vice-President Atiku Abubakar in his press conference earlier today as ‘Bola’ is very disrespectful and discourteous,” he wrote on X.

He said Atiku should recognise that the office of the president deserves to be accorded dignity despite political differences.

“He should know better that no matter your differences with Mr. President, for the sake of the country, that office should be accorded all the dignity it deserves,” Keyamo said.

Keyamo also described the tone of Atiku’s remarks as reflecting “pain and bitterness”, while referring to the former vice-president’s recent comment about Tinubu’s age.

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“After all, he made the outlandish claim the other day that Mr. President is older than himself. It is therefore a contradiction that he would also refer to an ‘elder’ by his first name,” he said.

Also, Dare, in a post on X on Saturday,  reacted to Atiku’s call for Tinubu to reduce petrol and electricity costs.

Atiku had on Friday asked Tinubu to use the remaining eight months of his administration to reduce the burden of petrol and electricity costs on households, workers and businesses.

He said the removal of petrol subsidy in May 2023 had contributed to higher transportation, food, logistics and energy costs. He also warned against phasing out electricity subsidies without addressing the impact on households and businesses.

Dare described Atiku’s manner of addressing the president as “the height of insolence”, accusing the former vice-president of political desperation.

“Alhaji Atiku’s manner of addressing President Bola Tinubu as Bola is the height of insolence. It is a clear descent into the abyss of unbridled desperation and an unraveling mind,” Dare wrote.

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“To seek to lecture a sitting president with the unbridled insolence of dropping his first name, petulantly barking instructions, and dictating how governance should be run within a truncated timeline is the height of political hubris.”

Dare defended the Tinubu administration’s economic policies, saying the president was undertaking reforms to address structural problems in the economy.

Dare also questioned Atiku’s criticism of government intervention in the economy.

“Atiku’s sudden conversion to the gospel of interventionism rings hollow,” he said.

He accused Atiku of using Nigerians’ economic difficulties for political purposes ahead of the 2027 elections.

“This is a desperate strategy by a perennial seeker of power who weaponizes transient national discomforts for electoral mileage,” Dare added.

“Nigerians do not need lectures on fiscal management from a political wanderer whose decades-long pursuit of the presidency has been defined by perpetual opportunism.”

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South Africa-based Nigerian lecturer found dead at her residence

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A Nigerian lecturer at the University of Fort Hare, South Africa, Ayodele Odularu, has been found dead at her residence in Eastern Cape Province of South Africa.

According to reports, Gbadebo Odularu, the brother of the deceased, said she died on August 16 at the age of 51.

A family member, who spoke on condition of anonymity, told Punch’s Diaspora Tales that the lecturer’s death was not natural and the circumstances remained unclear to the family.

The family had asked for an investigation into her death.

In a GoFundMe statement published by Gbadebo on behalf of the family, the lecturer was described as someone who “dedicated her life to knowledge, discovery, and creating a better future for communities”.

The family said “although her journey on earth ended too soon, the impact of her life continues through the people she inspired, the knowledge she shared, and the communities she hoped to serve”.

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“Ayodele was far more than a sister. She was a cherished daughter, aunt, friend, mentor, scholar, and a source of encouragement, compassion, wisdom, and strength to everyone blessed to know her,” the statement reads.

“Her presence brought warmth into every room. She was known for her kindness, infectious laughter, generosity, resilience, and unwavering commitment to uplifting others. She had a rare ability to make people feel valued, heard, and inspired.

“Dr. Ayodele Odularu dedicated her life to knowledge, discovery, and creating a better future for communities.

“As an Independent Senior Researcher at the University of Fort Hare Community, she contributed meaningfully to academic research and the advancement of knowledge through her scholarly work.”

On Thursday, University of Fort Hare organised a memorial service in honour of the lecturer.

The lecturer died amid the violent attacks against Nigerians and other Africans in South Africa.

To date the Federal Government has 
facilitated the evacuation of 1,716 Nigerians from South Africa over Xenophobic attacks in the former apartheid country.

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