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I’ve inherit Buhari’s assets and liabilities – Tinubu *His place in history assured
“Whatever unresolved challenges faced by President Buhari in his eight years, our administration will endeavour to resolve them. As I said during the campaigns, I inherited all his assets and liabilities,” were the exact words with which President Bola Ahmed Tinubu, reiterated his resolve to remain glued with President Muhammadu Buhari, his predecessor in office, with whom he has shared what could be termed a symbiotic relationship.
After helping Buhari to get to power through a groundswell of political forces he put together to form the All Progressives Congress (APC), a coalition of three major political parties, the former President, who enjoyed an eight-year, two-term tenure, returned the favour by handing over to Tinubu, which he accentuated by publicly displaying the vote he cast at the February 2023 presidential election for the former Governor of Lagos State.
Tinubu, at the presentation of the book Working with Buhari: Reflections of a Special Adviser, Media and Publicity ( 2015-2023), a book written by Femi Adesina, chronicling his experience as spokesman for the former President, Tinubu, named some of the landmark achievements of the former President, saying that whatever remained of Buhari’s dreams would be pursued by his government.
His words: “First of all, I thank the organisers of today’s book launch for providing me the opportunity and the ambience to reunite with my predecessor, former President Muhammadu Buhari, since he left office on May 29, 2023.
“When President Buhari was leaving office he said he would retire to Daura, far away from Abuja to enjoy his well-deserved retirement from public service. I remember he added that if his supporters and friends deny him of enough rest in Daura, he would run to the Republic of Niger. Well, as you all know, he can no longer escape to Niger Republic because of the border closure.
“I am therefore extremely happy to receive him here in Abuja. We are all here today to honour a great man, a patriot, a dedicated public servant who offered his best in the service of our country since he joined the army in 1962 at age 18. President Buhari served our country with dedication and uncommon zeal. First as a military officer who offered unblemished service, manning important commands and political positions, and crowning it as military Head of State on 1st January 1984. Second, as a politician who ran four times for the highest office until he was elected President in 2015.
“The authors of the books we are here to present to the public have done justice to the essential Muhammadu Buhari, especially on his tenure and legacy as the 15th President of Nigeria. Femi Adesina, who served him as the Special Adviser on Media & Publicity, authored one of the books titled:’Working with Buhari: Reflections of a Special Adviser, Media and Publicity ( 2015-2023). I particularly thank Femi for using his memoirs to let us into the challenging eight years of the administration and how his principal steered the ship of State.
“President Buhari assumed office at a very difficult period of our national life when the economy was spiralling into recession and Boko Haram had taken over swaths of our territory in North East. At a point it appeared even Abuja, the seat of government would fall into the hands of Boko Haram with the bombing of the UN Building, Banex Plaza, Nyanya and other locations within the Federal Capital Territory. We cannot easily forget how our armed forces battled the Boko Haram terrorists under the leadership of President Buhari to reclaim our territory and push them to the fringes of Lake Chad where they no longer pose existential threat to our sovereignty.
“I must say the job of securing every inch of our country is yet to be finished. My government will stamp out the remaining vestiges of Boko Haram, Ansaru, banditry and kidnapping gangs. We won’t rest until every agent of darkness is completely rooted out. The second book that will be presented today is a collection of five volumes book on the Buhari years. The book, “Muhammadu Buhari: The Nigerian Legacy (2015-2023)” gives an authoritative account of the stewardship of President Buhari.
“Beyond what the editor of these volumes has recorded as the achievements of President Buhari in his eight years as a democratically-elected President, history will also be kind to him as the leader who promoted local production of goods to grow our economy. It will be said glowingly of President Buhari that in his eight turbulent years, marked by acute shortage of revenue, Covid-19 pandemic that shut down the global economy for almost two years, his administration embarked on the most ambitious infrastructural renewal for the country.
“President Buhari gave us the second Niger Bridge. He revamped Lagos-Ibadan Expressway. He gave us the Lagos-Ibadan and Warri-Itakpe Rail lines. He completed Abuja-Kaduna rail line and Lekki Seaport. He built brand new airports, among many other landmark economic projects. The Abuja-Kaduna-Kano Expressway, which he started, will be completed by my administration, by the Grace of God.
“Our administration will continue to work , from where President Buhari stopped, to make our country better, create a vibrant economy and secure the environment to bring more prosperity to our people. I thank you all for coming to this event and for finding time to honour President Buhari and the organisers. And I welcome President Buhari back to Abuja. May God continue to bless the Federal Republic of Nigeria.”
At the event, which held in Abuja, the President informed Nigerians that Buhari never interfered in his government, adding that since the exchange of power between them on May 29, the former had never called him on any occasion for favours, and that whatever conversations they had since then had been initiated by him.
His words: “After handing over, you (Buhari) said, ‘I will be far away in Daura but if you need me, contact me. I won’t intrude in whatever you are doing. I won’t interfere. I won’t breathe down on your throat.’ We’ve partnered to make democracy flourish in Nigeria, thank you. Except when I call him (on the phone) to say, ‘Are you living, are you going to the farm?’, you don’t hear from him (Buhari) either to nominate or intrude in the cabinet or complain about issues. Thank you for being who you are.”
Apart from former government officials under the former President and those currently serving, the event also had in attendance Buhari’s wife, Aisha; ex-Vice President Yemi Osinbajo; ex-Head of State, General Yakubu Gowon; Senate President Godswill Akpabio, All Progressives Congress (APC) chieftains, among several other dignitaries.
As panic erupts across Nigeria following the sudden crash of CBEX, a digital investment platform that promised to double investors’ funds within a month, Chief Economist at SPM Professionals, Paul Alaje has emphasised the need for investment education, highlighting that Nigerians have lost an estimated ₦4.8 trillion to pyramid scams since the collapse of MMM in 2016.
Alaje, in an interview with ARISE News on Thursday, described CBEX as the latest in a disturbing trend of fraudulent schemes exploiting economic hardship and financial desperation.
“Since MMM in 2016, Nigerians have lost approximately 4.8trn to pyramid scam. Pyramid scam is a scheme designed to rip you off of funds. It is only a pyramid scam that promises more interest than the IMF and World Bank put together in a month and sometimes in a week.”
The CBEX platform, which reportedly offered users 100% returns on investments, began experiencing technical issues over the weekend. By Monday, users were locked out of their accounts entirely and in the absence of any official communication from the company, panic quickly escalated into chaos.
In Ibadan, enraged investors stormed a CBEX office, carting away items such as chairs, air-conditioners, and even a solar panel. Online, heart-wrenching videos of victims, some in tears, flooded social media, with many pleading for answers and the return of their hard-earned money.
Alaje stressed the importance of due diligence before participating in any investment opportunity.
“Before you invest in any scheme, apart from the Corporate Affairs Commission certificate they would show you, ask them for a Securities and Exchange Commission license. If they don’t have that, they must have a Central Bank license. And make sure you verify,” he advised.
He warned that unrealistic promises of high returns are a red flag. He said “In this economy, when the promises are too good and excellent to be real, please have a second thought.”
Alaje also pointed out that the CBEX saga creates broader risks for legitimate investment firms. “This can cause industry risk for genuine people who are doing the right thing,” he said. “From history, I doubt everyone will get their money back, but I trust that the EFCC will do its best.”
The Securities and Exchange Commission (SEC) had earlier confirmed that CBEX is not registered with the agency. Emomotimi Agama, the SEC’s Director-General, said on Arise Xchange that any unregistered investment scheme is considered illegal under Nigerian law.
“For us at the SEC, our primary responsibility is investor protection, and investor protection stems out of registration and regulation,” he said.
“When a scheme is not registered with the SEC, it becomes illegal; and it is important that whoever is interested in investing in such a scheme must ask the question, Are you registered with the SEC?
“If that is not the case, then it is automatically stated and known that such is an illegal activity and will not be condoned even by the SEC.”
Agama added that the commission had no prior knowledge of CBEX’s operations because no formal complaints were filed before its collapse—a pattern consistent with other fraudulent platforms. “Most people try to keep it away from the regulator, only involving a close circle of friends,” he said.
The economist however stated his belief that despite the chaos, those behind CBEX can still be traced. “I don’t think the identity of those that own CBEX can disappear anywhere. Financial transactions were involved. Which accounts were paid to.
“We have smart security agencies in charge of investigations. I know that they can do it if they want to do it. That business must have been registered with corporate affairs commission. We can do CAC search and get the names and all,” he said.
He urged victims to assist in ongoing investigations by reporting details of their transactions.
“People need to come out to report officially and also help agencies of government in this regard to mention who they paid and how the payment was made.”
Looking ahead, Alaje called on government agencies to take proactive steps in financial education.
“You need to increase public awareness on investment risks,” he said. “You can engage and put adverts on credible organisations so that young people and old are listening across the board. Most importantly, you need to translate it into other major languages like pidgin English for people to know.”
The current faceoffs between the White House and Harvard University continued on Wednesday with the government of Donald Trump, targeting some foreign students, threatening the institution that it could lose its ability to enroll foreign students in future if it failed to comply with demands to provide information on certain visa holders.
Kristi Noem Homeland Security Secretary, upping the ante stressed also that the department had terminated two grants to the institution, totalling more than $2.7 million, as punishment for its obstinate position for insisting on its independence.
Noem in a letter updating the institution, demanded for the records by 30 April related to what she described as the illegal and violent activities of some foreign student visa holders at the university, saying: “If Harvard cannot verify it is in full compliance with its reporting requirements, the university will lose the privilege of enrolling foreign students.”
In a pushback, Harvard spokesperson, who said the university had received Noem’s letter regarding grant cancellations and scrutiny of foreign student visas, reiterated an earlier position that the university would not surrender its independence or relinquish its constitutional rights, adding that it would continue to comply with the law.
The Trump administration has increasingly targeted universities with threats to cut federal funding in response to pro-Palestinian campus protests against the US-backed Israeli military assault on Gaza, which followed a deadly attack in October 2023 by Palestinian Hamas militants.
President Donald Trump has characterised the campus protests as a national security concern, accusing demonstrators of antisemitism and expressing support for Hamas, a position the protesters, including several Jewish groups, have rejected, insisting their advocacy centres on Palestinian human rights and opposition to Israeli actions in Gaza, not extremism or antisemitism.
The administration is also moving to deport some foreign student protesters and has already revoked hundreds of visas nationwide.
“With a $53.2 billion endowment, Harvard can fund its own chaos — DHS won’t,” Noem said, accusing the university of fostering an “anti-American, pro-Hamas ideology.”
Harvard has previously stated that it works to combat antisemitism and other forms of discrimination on campus while upholding academic freedom and the right to protest.
A lawmaker, Daniel Asama, says security agencies are aware of the whereabouts of the masterminds of the recent killings in Plateau, describing the attacks as genocidal.
Over 100 people have been killed in the last two weeks in Plateau, a situation, Asama said, is devastating.
“The security agencies know where these attacks have been coming from. They know the direction from which these attacks have been coming. The people in the community can show them the routes,” the lawmaker representing Bassa/Jos North Federal Constituency in the House of Representatives said on Thursday’s edition of Channels Television’s The Morning Brief.
“I am saying that the security operatives, if they talk to the people, will know where the attackers are coming from. I don’t believe exactly that they do not know where these people are coming from,” he said.
The Labour Party (LP) chieftain said the killings have led to the displacement of communities and likened it to land grabbing.
How Nigerians lost N4.8 trillion on Ponzi since 2016 – Alaje
No more foreign students for Harvard – Trump *Withdraws $2.7 million grant
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