Akpabio Under Fire for Alleged Failure to Stop Yoruba Dominance in Finance Sector

Senate President, Godswill Akpabio, is facing a backlash from some senators who accuse him of being unable to stop the perceived ‘Yorubanisation’ of the country’s financial system and economy.

Newsflash Nigeria reports that there have been rumours of a plot to oust Akpabio from his position by some disgruntled senators.

However, the Senate has denied the report, saying that the lawmakers are united behind Akpabio’s leadership.

But fresh reports from Daily Sun have revealed that some senators are unhappy with Akpabio for his inability to checkmate the domination of the Yoruba in key financial institutions and agencies, such as the Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS), Customs, among others.

The reports also claimed that some senators are dissatisfied with Akpabio for his failure to deal with some powerful interest groups, especially some petrol importers and the electricity distribution companies on some proposed financial deals involving 40 percent electricity tariff hike and payment of outstanding money to fuel importers.

The sources of the reports said that most of the senators who are opposed to Akpabio are former governors from the North and one from the South-South. They have reportedly formed a group and presented Senator Elisha Abbo, APC, Adamawa North, as their spokesperson.

Abbo, in recent newspaper interviews, accused Akpabio of marginalising his rivals in the leadership contest and their supporters in the distribution of the committee positions.

The sources also said that the main reason for their opposition to Akpabio is their fear that he cannot checkmate the influence of President Bola Tinubu, who is believed to be behind the appointments of Yoruba in the financial sector.

“The main issue is our fear that Akpabio cannot check this Yorubanisation of the financial system that is going on now,” one of the sources said.

The source added that most of those being removed and replaced with Yoruba are northerners.

The allegations against Akpabio have not been proven, and he has denied any wrongdoing. However, the fact that northern senators are regrouping to challenge him is a sign of growing dissatisfaction with his leadership.

It remains to be seen whether the senators will be successful in their plot to remove Akpabio.

However, the allegations against him have raised serious concerns about the state of the Nigerian financial system and the growing influence of a particular ethnic group in key sectors of the economy.

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Ilesanmi Adekanbi

Ilesanmi Adekanbi, writers and loves writing the story of politics, He is a movie addict. Adekanbi is a Senior Content Creator at Newsflash Nigeria contact me on email: ilesanmiadekanbi980@gmail.com

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