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Cardoso: Building Custodians of Nigeria’s Economic Future, Imperative 

Cardoso: Building Custodians of Nigeria’s Economic Future, Imperative 

Every reform era must eventually face a defining question: who will protect its gains once the headlines fade? For the Central Bank of Nigeria (CBN), that question took centre stage last Friday at the Lagos Business School, when the CBN Governor Olayemi Cardoso addressed hundreds of students in a landmark fireside chat.

It was not a technical seminar on monetary policy. It was a dialogue about continuity, a call to Nigeria’s youth to understand that stability is not just a statistic but a national mindset. 

The inaugural CBN Governor’s Annual Lecture Series, themed ‘Next Generation Leadership in Monetary Policy and Nation Building’, represents the evolution of what can best be described as the Cardoso Doctrine: a return to discipline, transparency, and credibility as the architecture of economic leadership, and now, a deliberate effort to socialise stability by embedding it in the next generation.

When Cardoso assumed office in September 2023, Nigeria faced what he later described as a “crisis of confidence”. Inflation was climbing, the foreign exchange market was dysfunctional, and investor trust had eroded. In response, the CBN pivoted sharply towards orthodox monetary policy, curbing deficit financing, tightening liquidity, unifying exchange rates, and publishing long-suppressed financial statements.

Two years later, those reforms have stabilised the naira, attracted new capital inflows, and restored global confidence in Nigeria’s economic management. But for the governor, these technical victories are only half the story. Reform must become culture, and culture begins with people. “Without stability, the things you are asking about can’t happen,” he said. “You can wish them to, but serious investors will run away.”

That statement, delivered not to economists but to aspiring leaders, crystallised a profound idea: stability is not the task of central bankers alone; it is the civic duty of every generation that benefits from it.

Cardoso’s insistence on collective stability is not rhetorical; it is strategic. By turning policy into dialogue, the CBN is nurturing a generation that views economic discipline as a shared value rather than an imposed constraint. This is leadership reframed, from bureaucratic oversight to mentorship in stewardship.

For decades, Nigeria’s financial narrative has oscillated between crisis and recovery. The CBN governor’s vision is to replace that cycle with a culture of consistency, where transparency and trust are not exceptions but expectations. 

The students at the lecture, drawn from Pan-Atlantic University, the University of Lagos, Lagos State University and Yaba College of Technology, represent the vanguard of this new culture: future entrepreneurs, policymakers, and civic actors who will inherit both the tools and the temperament of reform.

“Why should people deal with all the difficulties of running a business and have instability added to it?” he asked. “That is our work. If we fail in that, we fail in being an effective central bank.” Cardoso’s reflection on Nigeria’s transformation was as candid as it was instructive.

“Two years ago, people were not looking to exit through the door but through the window,” he recalled. That imagery captured a nation’s exhaustion. Today, the story is shifting. Investor confidence is returning, the credit outlook has improved, and Nigeria’s presence in global financial circles is again marked by credibility. The governor referenced a recent visit by BlackRock leadership as symbolic proof that consistency breeds confidence.

For the students listening, these were not statistics; they were evidence that leadership grounded in credibility can turn despair into momentum. When asked about the future of central banking, Cardoso did not hesitate: “Digitisation and AI will be key to the future effectiveness of any central bank.” Under his leadership, the CBN is not only modernising systems but redefining governance through technology. The move to a paperless office, the introduction of an electronic FX matching platform, and the use of AI-driven oversight all signal a forward-looking institution that sees transparency as both technological and ethical.

For young Nigerians entering business, fintech, or public service, technology becomes the bridge between access and accountability. In a country where opportunity has too often depended on proximity, open data and digital systems are the great equalisers. By linking innovation to integrity, the governor is teaching that the digital future must be a disciplined one, powered by inclusion, not indulgence.

Perhaps the most powerful moment of the session came when he set aside charts and policies and spoke directly about personal character. “Protect your hard-earned credibility,” he told the audience. “It will take you very far. Without it, you cannot reach what you aspire to.”

In those words lies the heart of his leadership philosophy: credibility is both the currency of institutions and the compass of individuals. He warned against discouragement, recalling how the CBN itself faced formidable headwinds at the start of its reform drive. “The headwinds come from places you least expect,” he said. “But you must have the courage and the strength of character to stay the course.”

For a generation often impatient for quick results, that was a timeless reminder: resilience is reform’s most underrated virtue.

Every generation inherits a balance sheet of assets, liabilities and lessons. The greatest of these assets is credibility, a resource painstakingly rebuilt over the past two years. Through the governor’s Lecture Series, the CBN is institutionalising credibility as a public value, transforming monetary stability from a technocratic goal into a social ethic.

And that is where the true opinion lies: Nigeria’s biggest economic risk is not inflation or exchange rate volatility, it is institutional amnesia. The inability to preserve credibility once it has been restored is what has historically undone the country’s economic progress.

The Cardoso Doctrine seeks to break that cycle by creating custodians, not just beneficiaries of stability. As the governor concluded, when asked to describe Nigeria’s future in one word, he replied simply: “Bright.” That optimism is not rhetorical; it is earned, forged through discipline, transparency and the conviction that the next custodians of Nigeria’s economy are already in the room, learning how to protect what has been rebuilt.

In that sense, the Cardoso’s doctrine is more than a set of policies; it is a philosophy of continuity, one where stability is not only achieved but taught, shared, and safeguarded by a generation prepared to lead with credibility at its core.

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Every reform era must eventually face a defining question: who will protect its gains once the headlines fade? For the Central Bank of Nigeria (CBN), that question took centre stage

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Adeleke vows justice for victims of fatal Akinlalu shootings

The Osun State Governor, Ademola Adeleke, has vowed to ensure the arrest and prosecution of persons responsible for the killing of seven individuals in Akinlalu town, Ife North local government area of the state. Governor Adeleke made the vow on Monday through the Commissioner for Information and Public Enlightenment, Kolapo Alimi, during a visit by
Adeleke vows justice for victims of fatal Akinlalu shootings

The Osun State Governor, Ademola Adeleke, has vowed to ensure the arrest and prosecution of persons responsible for the killing of seven individuals in Akinlalu town, Ife North local government area of the state.

Governor Adeleke made the vow on Monday through the Commissioner for Information and Public Enlightenment, Kolapo Alimi, during a visit by a government delegation to the community.

Adeleke’s message followed widespread outrage and demands for justice from residents of Akinlalu after the fatal incident, which has thrown the victims’ families and the town into mourning.

According to Alimi, the Adeleke administration will not tolerate acts of criminality and is fully committed to bringing the perpetrators to justice.

He said, “Governor Ademola Adeleke condemns in strong terms the killing in Akinlalu. The government will ensure a thorough investigation, and those responsible will face the full wrath of the law.”

Alimi urged residents to remain calm and patient, assuring them that a transparent investigation would be conducted to ensure justice for the victims.

While appreciating media figures such as Oriyomi Hamzat and other bloggers for drawing public attention to the tragic event, Alimi noted that their voices amplified the community’s call for justice.

The Commissioner of Police, Ibrahim Gotan, disclosed that three suspects had already been arrested and detained at the State Criminal Investigation Department in Osogbo.

He said, “The police have swung into action since the incident occurred. Three suspects are currently in custody, and others will soon be apprehended.”

Osun State Attorney General, Barrister Jimi Bada, expressed sympathy with the bereaved families, assuring them that justice would be pursued to its logical conclusion.

“The state government will ensure that all those found guilty face severe consequences as prescribed by law,” he said.

The Governor’s Special Adviser on Security, Barrister Samuel Ojo, appealed for calm among residents, assuring that justice would be done.

The traditional ruler of Akinlalu, Oba Oloyede Aborisade, appealed to the state government to ensure justice and provide compensation for the victims’ families.

Oba Aborisade described the killings as a great loss to the community.

Also speaking, the Akinlalu Youth Leader, Adeboye Musbau, demanded swift government action.

“We cannot afford to suffer in vain. We appeal to the government to investigate thoroughly and compensate affected families,” he lamented.

On Tuesday, September 30, 2025, Osun Amotekun through a statement by its spokesperson stated that three suspected hoodlums were killed in a violent clash with its personnel on the outskirts of Akinlalu town.

The agency revealed that the security personnel were accosted during a mission to recover their weapons that were confiscated by the hoodlums.

However, on Wednesday, October 1, the Osun State Police Command, through a counter statement by DSP Abiodun Ojelabi, its Police Public Relations Officer, said all claims and counterclaims, including allegations of murder, assault occasioning harm, gun snatching, wounding and impersonation will be carefully verified to establish facts and ensure justice.

Ojelabi said the police have taken over the case and would ensure that no stone remained unturned as it embarks on investigation to unravel the cause of the killings. He added that the Amotekun personnel went away with the corpse of their dead victims.

Ojelabi said the suspected personnel were on the run but they will be apprehended and brought to book no matter where they are hiding.

DAILY POST reliably gathered that the death toll from the incident has risen to seven as at press time on Tuesday, a week after the fatal Akinlalu town shootings.

Adeleke vows justice for victims of fatal Akinlalu shootings

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Alleged certificate forgery: UNN manipulating Nnaji’s academic files — Spokesman

Spokesperson for Uche Nnaji, Nigeria’s Minister of Innovation, Science and Technology, Robert Ngwu, has accused the University of Nigeria Nsukka, UNN, of tampering with and manipulating the academic files of the minister. Ngwu made this allegation on Tuesday, while responding to questions in an interview on ‘The Morning Brief’, a programme on Channels Television, He
Alleged certificate forgery: UNN manipulating Nnaji’s academic files — Spokesman

Spokesperson for Uche Nnaji, Nigeria’s Minister of Innovation, Science and Technology, Robert Ngwu, has accused the University of Nigeria Nsukka, UNN, of tampering with and manipulating the academic files of the minister.

Ngwu made this allegation on Tuesday, while responding to questions in an interview on ‘The Morning Brief’, a programme on Channels Television,

He further alleged that the UNN was playing politics with his principal’s academic records.

“He didn’t ask the institution not to touch his academic records. He said they should not tamper or manipulate because there was information about what we saw online, where things from a personal student’s file were released online. That means somebody is deliberately doing that.

“So we gathered from a good authority that some manipulations were going on. The minister sought the protection of the court and they should release his transcript.

“You have an Acting VC who is a card-carrying member of the PDP. Under normal circumstances, he is not supposed to be a VC. On the other hand, you have a VC who, for decades, puts on a robe as a politician. And the minister was jittery because it is a legal politics, and you know how legal politics are.

“In Enugu, PDP has found a way to remain in power for the last 26 years because they don’t want competition during elections, and they go after whoever will challenge them, discredit them, and find a way to make them have no party to compete under.

“So, the issue was that the school stop tampering and manipulating his academic files. It is basically to release his transcript. In May, he applied for his transcript and paid for it, and it was not released,” he said.

Ngwu added that during the last court session on Monday, Nnaji had sought the protection of the court on several requests.

The allegation comes as Nnaji is being accused of certificate forgery in 2023 following his political appointment.

The Minister, who is currently embroiled in a court case over the matter, told Justice Hauwa Yilwa of the Federal High Court on Monday, that the institution was holding onto his academic transcript.

Nnaji insisted that having bagged a BSc. degree in Microbiology/Biochemistry with second class honours (lower division) in 1985, the university had no right to continue to hold back his academic laurels.

Alleged certificate forgery: UNN manipulating Nnaji’s academic files — Spokesman

PDP is recycling old videos to mislead Sokoto residents — Wamakko

Former Governor of Sokoto State and APC leader, Senator Aliyu Magatakarda Wamakko, has accused the Peoples Democratic Party, PDP, of circulating outdated videos to misrepresent the achievements of the current administration under Governor Ahmed Aliyu. Wamakko alleged that the PDP’s recent circulation of video clips and reports from over eight years ago is intended to
PDP is recycling old videos to mislead Sokoto residents — Wamakko

Former Governor of Sokoto State and APC leader, Senator Aliyu Magatakarda Wamakko, has accused the Peoples Democratic Party, PDP, of circulating outdated videos to misrepresent the achievements of the current administration under Governor Ahmed Aliyu.

Wamakko alleged that the PDP’s recent circulation of video clips and reports from over eight years ago is intended to mislead the public and undermine the APC-led government’s progress.

“The PDP has been parading old and irrelevant videos as new evidence of achievements in a futile attempt to tarnish the image of Governor Aliyu and the APC leadership in Sokoto State,” Wamakko said.

He disputed claims that the previous PDP administration had completed major projects initiated during his tenure, citing examples such as the Asari Water Scheme, Kalambaina and Gidan Salanke housing estates, and several educational institutions.

Wamakko said many of these projects were left in poor condition or abandoned.

The former governor also clarified that three boarding schools at Shagari, Maruda, and Illela were completed during his administration, while expansions at Sanyinna were not approved by the subsequent PDP government.

He added that Governor Aliyu’s administration has since begun renovations and new projects at these institutions.

Wamakko urged Sokoto residents to verify claims and remain critical of what he described as “recycled misinformation.”

When contacted, PDP spokesman Hassan Sayinnawal said the party was reviewing the allegations and would respond in due course.

PDP is recycling old videos to mislead Sokoto residents — Wamakko

Oshiomhole is ‘Judas Iscariot’ of Nigerian trade unionism – NUPENG

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has launched a scathing attack on Senator Adams Oshiomhole, branding him the “Judas Iscariot of trade unionism” following his remarks on the dispute resolution between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN. In a statement jointly issued by
Oshiomhole is ‘Judas Iscariot’ of Nigerian trade unionism – NUPENG

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has launched a scathing attack on Senator Adams Oshiomhole, branding him the “Judas Iscariot of trade unionism” following his remarks on the dispute resolution between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN.

In a statement jointly issued by its National President, Comrade Williams Akporeha, and General Secretary, Comrade Afolabi Olawale, NUPENG said: “These remarks represent a reprehensible attack on the fundamental rights of Nigerian workers and a blatant distortion of established labour laws.”

The union expressed dismay that a former labour leader could “morph into a staunch defender of corporate oppression, undermining the very rights he once fought to protect”.

According to the statement, Oshiomhole’s comments were “a flagrant misrepresentation of Nigerian labour law and International Labour Organisation, ILO, conventions”.

NUPENG noted that the incident calls to mind former President Olusegun Obasanjo’s past remark describing Oshiomhole as “a comrade in the morning and a politician by night”.

The union questioned: “If so, does such a figure possess the authority to lecture others on strategy or morality?”

It further asked how someone who “once advised allegedly corrupt politicians to join the APC for absolution now presume[s] to preach ethics?”

The statement also challenged Oshiomhole’s claims regarding his resignation timeline at the National Union of Textile, Garment and Tailoring Workers of Nigeria, NUTGTWN, stating: “The facts are indisputable: Adams Oshiomhole held both the NLC Presidency and NUTGTWN General Secretary roles from 1999 to 2007, only stepping down from the latter in 2008, one year after leaving the NLC.”

NUPENG questioned whether this dual role symbolized “an unyielding pursuit of power, influence, and personal gain.”

The union accused the senator of consistently “rewriting history to align with his current reactionary stance in favour of capitalists, who reject trade unions in pursuit of exploitative labour practices.”

It went on to challenge his entitlement to the Senate title “Distinguished,” saying it was “earned through undemocratic privilege rather than merit.”

According to the union, “His current position is not that of a pragmatic reformer but the rantings of an apostate, seduced by power and compromised by vested interests, betraying the cause of Nigeria’s downtrodden workers.”

NUPENG criticized Oshiomhole for admitting *“limited knowledge of the issue”* before proceeding to denounce the PENGASSAN strike, describing his actions as “irresponsible and deplorable.”

To clarify its stance, NUPENG cited legal frameworks protecting workers’ rights, including “Section 40 of the 1999 Constitution (as amended)” and “ILO Conventions 87 and 98,” affirming that these provisions guarantee freedom of association and protect workers’ right to unionize without interference.

The union emphasized that mass dismissals for union activities “violate these standards, which are enshrined in the Constitution via Sections 254C(1) and (2).”

It rejected Oshiomhole’s suggestion of a “moratorium on unionization,” calling it “an absurd, regressive idea with no basis in modern democracy.”

Challenging him directly, NUPENG said: “We challenge him to cite any section of the Labour Act, Trade Unions Act, or other legislation supporting such a provision, or is this drawn from an unpublished manifesto by ‘daytime comrades and nighttime opportunists’?”

The union described his stance as a case of “historical revisionism and selective amnesia,” reminding that “Section 31 of the Trade Unions Act (Cap T14, LFN 2004) recognizes trade disputes, including sympathetic industrial actions.”

It maintained that PENGASSAN’s solidarity strike was “a protected legal activity,” stressing that “the principle that ‘an injury to one is an injury to all’ underpins global labour movements.”

NUPENG noted that Oshiomhole’s position now mirrors “the anti-labour arguments he once battled as NLC President,” and expressed shock that someone who served on the ILO Governing Council could display “such profound ignorance of unionism.”

The statement referenced journalist Reuben Abati’s question during the interview: “Where are Oshiomhole’s once-iconic ‘aluta’ attire?”

It further recommended readers revisit the 1998 publication Nigerian Textile Industry: Labour-Regime and Adjustment by Andrae and Beckman for context on Oshiomhole’s earlier union leadership.

Senator Oshiomhole persona non grata among Nigerian oil and gas workers due to his “denunciation of the PENGASSAN strike and the unjust sacking of over 800 engineers as retaliation for unionizing”, NUPENG declared.

It added that henceforth, the union would not attend or endorse any event featuring him, urging the NLC, TUC, and civil society organizations to do likewise.

The union stated: “Oshiomhole’s insensitivity to these workers’ plight and his opposition to unionism in the petroleum sector poison the working-class resolve while bolstering exploiters.

NUPENG stands resolutely with PENGASSAN and the dismissed engineers. We will deploy all legal and industrial tools fully compliant with Nigerian law and global standards to achieve justice.”

“The Senator’s stance marks him as the Judas Iscariot of Nigerian trade unionism a profound betrayal of the working class NUPENG added.

We advise him to withdraw from labour commentary, as he has forfeited all moral authority, especially among oil and gas workers.”

Oshiomhole is ‘Judas Iscariot’ of Nigerian trade unionism – NUPENG

UK supports Benue with forensic project to boost justice for rape, assault survivors

The British High Commission in Nigeria has selected Benue State as one of the pilot locations for a groundbreaking forensic science initiative aimed at improving the investigation and prosecution of rape and sexual assault cases. The announcement was made during a courtesy visit to the Benue State Commissioner for Women Affairs and Social Welfare, Mrs
UK supports Benue with forensic project to boost justice for rape, assault survivors

The British High Commission in Nigeria has selected Benue State as one of the pilot locations for a groundbreaking forensic science initiative aimed at improving the investigation and prosecution of rape and sexual assault cases.

The announcement was made during a courtesy visit to the Benue State Commissioner for Women Affairs and Social Welfare, Mrs Theresa Apochi-Ikwue, by Mr. Kelvin Hurley, a British Police officer with Scotland Yard, and Mr. Roger Raweus, a retired British military officer and Senior Advisor with SPRING Tetra Tech International Development Company, Abuja.

Hurley explained that the initiative will employ modern DNA testing to analyze biological samples such as semen, saliva, or blood obtained from survivors.

The goal, he noted, is to develop DNA profiles that can help identify suspects and ensure justice is served. In cases where rape results in pregnancy, DNA testing will also be used to establish paternity.

According to him, the delegation was in Benue to seek collaboration with key stakeholders, including the Commissioners for Health, Justice, and Women Affairs, the Police, and the Director of Public Prosecutions, to create the synergy needed for the project’s smooth implementation.

The project, which is fully funded by the British Government, will provide training for police officers, doctors, health personnel, social workers, and other relevant professionals on the collection, preservation, and use of forensic evidence.

It will also strengthen investigations beyond sexual violence cases, extending to crimes such as kidnapping and banditry.

Furthermore, the British Government will assist in setting up modern shelters for survivors, support the Sexual Assault Referral Centre, SARC, in Benue, and advocate for stronger legal provisions to enable the admissibility of forensic evidence in court proceedings.

In her remarks, the Commissioner for Women Affairs and Social Welfare, Mrs Theresa Odachi Ikwue, expressed deep gratitude to the British Government for selecting Benue as a pilot state.

She assured the visiting team of her ministry’s full cooperation and reaffirmed the state government’s dedication to the fight against Sexual and Gender-Based Violence, SGBV.

Also speaking, the State Coordinator of the Sexual Assault Referral Centre, SARC, Mrs Linda Dirisu, pointed out that one of the challenges the Centre faces is that after 78 hours, it becomes difficult to obtain accurate test results from survivors.

Responding to this concern, Hurley explained that with forensic science, investigators can still gather vital evidence even after several days.

He stated that DNA traces on clothing or other materials can remain viable and assist in identifying offenders, emphasizing that forensic science remains effective regardless of time delays.

Dirisu commended the British Government for the intervention, saying it would greatly enhance the Centre’s ability to handle SGBV cases efficiently.

She pledged her full support to the success of the initiative and expressed confidence that it would significantly reduce cases of sexual and gender-based violence in Benue and across Nigeria.

Those in attendance at the meeting included Mrs Theresa Odachi Ikwue, Commissioner for Women Affairs and Social Welfare; MrsbMartha Edor, Permanent Secretary; Mr. Kelvin Hurley; Mr. Roger Raweus; CSP Ameh Ann (Special Police); Mrs Andor M. Magdalene, Director of Women Affairs; and Linda Ene Dirisu-Ochigbo, State Coordinator of the Sexual Assault Referral Centre, SARC.

UK supports Benue with forensic project to boost justice for rape, assault survivors

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