Babalola resigns – NEXT

The minister of special duties, Remi Babalola, has resigned his appointment from the federal cabinet, on health grounds.

Mr Babalola was recently redeployed to the Ministry of Special Duties, following his outburst which claimed that the Nigerian National Petroleum Company (NNPC) was bankrupt. A statement by the federal government immediately denied this through the Minister of Finance, Olusegun Agaga, 24 hours later.

Goodluck Jonathan, in response to Mr Babalola’s letter of resignation, wished him “full recovery and a speedy return to an active life”, a statement from the Special Adviser to the President read.

Mr Babalola has held sway in the Ministry of Finance since July 2007 when he was appointed by the late President, Umaru Yar’Adua. A banker until his appointment, Mr Babalola was an Executive Director of First Bank of Nigeria Plc, in charge of Lagos and West business, as well as consumer banking and electronic payments.

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