By Seyi Babalola
Senate President, Godswill Akpabio, is facing tough times as a number of his colleagues are up in arms against him over their perception that he lacks what it takes to stop President Bola Tinubu from handing over Nigeria’s financial sector to his Yoruba friends and allies, a source has revealed to metrowatchxtra.com.
He said the real angst of the group of senators, standing against Akpabio, is the suspicion of the incapacity of the Senate President to checkmate what some northern senators are calling the Yorubanisation of the country’s financial system and economy.
Besides the alleged perception of Senator Akpabio’s lack of capacity to checkmate the domination of the Yoruba in the financial ecosystem is also his alleged refusal to deal with some powerful interest groups, particularly some petrol importers and the electricity distribution companies on some proposed financial deals bordering on 40% electricity tariff hike and payment of outstanding money to fuel importers.
Newspaper publications had last weekend alleged a plot by some senators against Akpabio alleging lopsided distribution of Grade A committees mainly in favour of his supporters and to the discrimination of those who opposed him during the leadership contest.
While it was gathered that the allegation may have some substance, it has, however, emerged that some rivals of the Senate President may have regrouped using as a reason, his apparent failure to check the lopsided appointments by the president in favour of the Yoruba, especially in the financial sector.
Among the senators who are alleged to have regrouped with a mission of standing up to Senator Akpabio are some former governors drawn from the North and at least one from the South-South.
The group has now formally come out by presenting Senator Elisha Abbo, APC, Adamawa North as its face.
Senator Abbo in newspaper interviews at the weekend accused Akpabio of marginalising his rivals in the leadership contest and their supporters in the distribution of the committee positions.
However, sources within the Abbo group have now revealed that the angst of the group was far more and go beyond the Senate President.
“The main issue is our fear that Akpabio cannot check this Yorubanisation of the financial system that is going on now,” a source within the group revealed at the weekend.
The source who spoke on the basis of confidentiality alluded to the appointments at the Central Bank of Nigeria, CBN, Federal Inland Revenue Service, Customs, among others that have recently been infused with Yoruba leadership. The control of the agencies is besides the appointment of Yoruba Ministers in the financial sector and the blue economy.
“Yes, the reason why you can see that Northerners are mostly involved is that most of those being removed and replaced with Yoruba are northerners,” the source further revealed.
It was further gathered that the aim of the senators is to enthrone a senate president the group believes can checkmate President Bola Tinubu.
Besides the appointments, the group is also said to be working on behalf of some interest groups in the economy who believe that they were shortchanged after reaching agreements with the president and Akpabio on the payment of subsidy to the petrol importers.
It was gathered that an arrangement had been reached with the presidency that funds generated from the removal of fuel subsidy would be used to settle petrol importers within the first two months of the removal of subsidy. The fund amounting to N2 trillion has, however, not been so used but rather pushed to palliatives intervention.
Another interest group said to have infiltrated into the ranks of the dissident senators were some Electricity Distribution companies who were said to have also reached an agreement with the presidency and Akpabio for an upward review of 40% of tariff. That agreement was, however, discountenanced on the Senate floor by Akpabio.
Just like those being pushed out in the appointments in the financial sector, Northern business interest groups are believed to be more affected by the decision not to pay the petrol importers.
