Analysts said at the weekend that President Bola Tinubu’s appointments in the finance sector show favouritism to the southwest region. This was after the President named new helmsmen to both the Central Bank and Federal Inland Revenue Service.

At the weekend, he named Mr. Yemi Cardoso, a former Commissioner in his cabinet when he was Governor of Lagos, as acting Central Bank Governor. Tinubu also named Mr. Zacch Adedeji to the chairmanship of the Federal Inland Revenue Service (FIRS).

Both appointments complete a clean sweep of appointments in the crucial finance sector in favour of the President’s region.

Appointees from the Southwest Region now hold all of the managerial positions for the nation’s monetary and fiscal policy, as seen below:

1Minister of FinanceMr. Wale EdunSouthwest
2Governor, Central BankMr. Yemi CardosoSouthwest
3Chair, Federal Inland Revenue ServiceMr. Zacch AdedejiSouthwest
4Comptroller General, CustomsMr. Bashir AdeniyiSouthwest
5Accountant-General*Oluwatoyin Madein*Southwest
* appointed by President Muhammadu Buhari

Most have expressed surprise at the turn of affairs. Not even President Muhammadu Buhari who is from the Northwest engaged in this level of favouritism to his region, they said.

In contrast, this was the pattern of Buhari’s first appointments as President in 2015:

1Minister of FinanceKemi AdeosunSouthwest
2Governor, Central BankGodwin EmefieleSouth-South
3Chair, Federal Inland Revenue ServiceBabatunde FowlerSouthwest
4Comptroller General, CustomsCol. Hameed AliNorthwest
5Accountant-General*Ahmed IdrisNorthwest

“It is incredible that President Tinubu will outdo Muhammadu Buhari in appointing people from his region to man Nigeria’s monetary and fiscal policy,” an analyst said yesterday.

“Buhari better than Tinubu? Wonders shall never cease, another quipped on X, formerly known as Twitter.

Another X user, @Von_Bismack, twitted why he cannot complain:

“Why I cannot complain about the lopsided appointments in Tinubu’s government is because we saw the same and even worse under Buhari.

“It’s now a culture to push every appointment to your region while in govt. I hope we keep this and not cry later when power moves.”

On 7 August, Senate President Godwill Akpabio stepped down an urgent motion to “balance geo-political representations in the appointment of Ministers.”

The Senate Southeast Caucus reportedly crafted the motion. However, reports said Mr. Akpabio proposed a private meeting with the President on the issue.

Ironically, even within the favoured Southwest Region, there is internal grumblings that most of the positions are going to Lagos, Mr. Tinubu’s State of Origin.


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