Emefiele: DSS Arrests NIRSAL Boss

• Abbas Umar Masanawa, MD of NIRSAL, was detained by DSS, reportedly linked to an investigation involving former CBN governor Godwin Emefiele
• Masanawa, previously with NSPMC and close to Emefiele, was allegedly named in ongoing investigations; DSS confirmation awaited

The Managing Director and Chief Executive Officer of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Abbas Umar Masanawa, has been picked up by the Department of State Services (DSS), Daily Trust has learned.

Although the reasons for his arrest were unknown, sources familiar with the matter said it was in connection with the ongoing investigation of the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.

Before being appointed to succeed Abdulhammeed, Masanawa was the Managing Director of the Nigeria Security Printing and Minting Company (NSPMC), also known as ‘The MINT’.

The senior banker was a close ally of Emefiele and reportedly sought to run for governor of Katsina State on the platform of the ruling All Progressives Congress (APC) in 2022.

Before being recommended to lead the company by the suspended apex bank governor, he was the executive director in charge of finance and strategy at the same company.

An anonymous security source told Daily Trust that Emefiele’s ally, who was apprehended at his Abuja residence, was named in both the Emefiele investigation and the one ongoing at the apex bank’s headquarters.

When this report was filed, the DSS spokesman, Peter Afunanya, had yet to respond to a text message seeking official confirmation and additional details.

Tinubu approves presidential CNG initiative

President Bola Ahmed Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI).

Presidential spokesman Ajuri Ngelale in a statement on Friday said the move furthers his commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs.

According to Ngelale, the initiative is to revolutionize the transportation landscape in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles.

He said it would simultaneously bolster in-country manufacturing, local assembly and expansive job creation in line with the presidential directive.