The Week In Review: Fani-Kayode Keeps ‘Political Transfer Window’ Open, Buhari Asks For More Loans, CBN Goes After AbokiFX And More…

Former Minister of Aviation Femi Fani-Kayode dumps PDP for APC; President Muhammadu Buhari writes National Assembly for more loans; Senator Shehu Sani returns to PDP…

We are reporting these and more as we review the past week!

Fani-Kayode keeps political transfer window open with unsurprising move to APC

Fani-Kayode, Buhari and other APC chieftains

Former Minister of Aviation, Femi Fani-Kayode, this past week dumped the Peoples Democratic Party, PDP, for the All Progressives Congress, APC, after meeting with President Muhammadu Buhari at the Presidential Villa.

Speaking to State House correspondents, Fani-Kayode claimed he was led by the Spirit of God to join the ruling party, adding that he was instrumental in the defection of Governor David Umahi, Governor Bello Matawalle and Governor Ben Ayade.

He further stated that Governor Ifeanyi Ugwuanyi of Enugu, Governor Bala Mohammed of Bauchi and Governor Seyi Makinde of Oyo State will soon join him in the APC.

In an interview on Channels Television’s Politics Today, the former minister claimed that his previous attack on President Buhari were only political.

Reactions

Angered by Fani-Kayode’s claim, Governor Umahi asked the former minister to take back the statement he described as insulting.

He stated that FFK was not aware of his defection until it was announced, wondering why a PDP member would influence his decision to join the APC.

Also reacting to Fani-Kayode’s statement after his defection, the Enugu state government called the former minister a shameless liar.

The state government maintained that Governor Ugwuanyi remains a member of the PDP.

Kaduna 2023: Sani leaves PRP for PDP

Shehu Sani

With Nigerians still reacting to the defection of Femi Fani-Kayode, news filtered in about the defection of former Senator representing Kaduna Central, Shehu Sani.

The former lawmaker dumped the Peoples Redemption Party, PRP, for the Peoples Democratic Party.

Senator Shehu Sani is reportedly plotting to contest in the Kaduna Governorship election in 2023.

Buhari wants more loan, PDP, Senator Ndume react

Muhammadu Buhari

Buhari on Tuesday forwarded a letter to the National Assembly seeking its approval to borrow fresh $4,054,476,863 and €710 million loans.

The president in the letter urged the national assembly to approve grant components of $125 million.

Buhari stated that due to the demands in the country, there is a need to raise more funds for some “critical projects”.

Recall that the National Assembly in July approved the sums of $8.3 billion and €490 million loans contained in the initial 2018-2020 borrowing plan.

PDP, in its reaction, berated Buhari over the plan to obtain fresh foreign loans.

The opposition party rejected the move to borrow the fresh loans, saying that the Buhari administration is mortgaging the future of the country.

The PDP lamented the alleged reckless borrowing by Buhari and the APC, saying Nigerians might eventually not have a nation that they can freely call their own.

Also reacting, Borno Senator, Ali Ndume condemned the National Assembly over the hasty decision taken on the external loans request by Buhari.

Speaking with newsmen on Thursday, Ndume said Nigerians have been critical of the approvals by the National Assembly because they were not being carried along.

The lawmaker added the present external debt burden put at over N35trillion by the Debt Management Office (DMO) was worrisome.

DSS asked to pay Sunday Igboho 20 billion naira.

Sunday Igboho and President Muhammadu Buhari

The embattled Yoruba Nation agitator, Sunday Adeyemo also known as Sunday Igboho, on Friday, recorded another court victory against the federal government of Nigeria.

This is as the Oyo state high court sitting in Ibadan ordered the federal government to pay Igboho the sum of ₦20billion.

According to the court order, the sum is for damages caused by the invasion of his Ibadan residence by operatives of the Department of State Services (DSS) in July.

Unhappy with the running,  the federal government of Nigeria declared that it won’t immediately pay the ₦20b awarded against it by the court over the invasion of Sunday Igboho’s residence by operatives of the DSS.

Instead, the federal government revealed that it was going to appeal the decision of the high court in Ibadan, Oyo State which handed down the ruling.

Foreign Exchange: CBN goes after AbokiFX

In a bid to save the Naira from continuous free fall, the Central Bank of Nigeria, CBN, has ramped up its fight against illegal traders of foreign exchange.

The latest of such companies to enter the CBN black book is AbokiFX.

The apex bank had vowed to prosecute Olumide Oniwinde Adedotun the founder of AbokiFX.

This was made known by the Governor of the CBN, Godwin Emefiele, who disclosed this while fielding questions after the Monetary policy committee’s two-day meeting in Abuja on Friday.

According to the CBN governor, the federal government will shut down the operations of Aboki FX.

It was gathered that the CBN had been investigating Adedotun and his company for “illegal foreign exchange transactions”.

Emefiele accused Oniwinde of manipulating the exchange rate.

With CBN’s recent move one can only hope the naira would appreciate against the dollar very soon.

That will be all for this week! Next week is another time