In a recent event, Sen Adams Oshiomhole openly criticized the policy direction of President Bola Tinubu during the screening of Yemi Cardoso as the Governor of the Central Bank of Nigeria, CBN. Oshiomhole, a close ally of President Tinubu, expressed his discomfort with the nomination.
Oshiomhole stated, “When the West celebrates our free market, no control, and so on, I am always suspicious. The challenge we deal with now is everybody seems to have submitted completely to the so-called market forces and rely on the invisible eyes of Adams Smith to regulate and determine.”
Interestingly, Mr. Cardoso founded the Citizen International Bank, which later merged with seven other banks to form Spring Bank. However, the bank eventually collapsed and faced sanctions from the CBN for unethical dealings.
Oshiomhole further expressed his suspicion towards individuals with a commercial banking background, stating that central banking is about policy and not about making a profit. He emphasized the importance of getting monetary policy right with a clear focus on specific macroeconomic objectives.
Oshiomhole’s criticism of Tinubu’s ideological leaning is not an isolated incident. There is an ongoing fight among APC supporters, particularly between Buharists and BATists.
Buhari is seen as more of a “welfarist,” while Tinubu has been making efforts to appease the Western establishment and the Bretton Wood institutions. The decision to remove the petroleum subsidy and float the Naira has gained applause from the global financial community but has faced opposition from Buharists.
On X (formerly known as Twitter), the APC support groups can be divided into four categories: Buharists, BATists, the PYO supporters, and non-affiliates. Over time, they were lumped together as one single group, often referred to as Buharists or BMC. However, during the presidential primary election of the APC, divisions within the group became evident, with the pro-Osinbajo group being the first to pull out.
Currently, the biggest fight is between BATists and Buharists on Twitter. Popular Buharists like Kayode Ogundamisi and Iyabo Awokoya have remained somewhat neutral, while some Northern Buharists like Abdulaziz Muazu, Mr Explainer—Gaskiya Tafi Kobo, Arewa Daddy, and others fiercely defend the legacy of former President Buhari.
On the side of BATists, Dr. Toks, Jibril Gawat (an aide to Governor Babajide Sanwo-Olu), Legendary Joe (an aide to Speaker Tajudeen Abbas), and others lead the front in defending the current administration.
Observers on X believe that the ongoing fight within APC supporters could give rise to a new set of opposition.