Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home Government

Who Really Runs Onitsha? The Multi-Billion Naira Standoff That’s Testing Soludo’s Power

Somto NwanoluebySomto Nwanolue
January 28, 2026
in Government
0
Who Really Runs Onitsha? The Multi-Billion Naira Standoff That's Testing Soludo's Power
Share on FacebookShare on TwitterShare on Whatsapp

A severe showdown between the state government and defiant traders is paralyzing the commercial heart of southeastern Nigeria, exposing the limits of Governor Chukwuma Soludo’s authority and sparking a rebellion that is bleeding the regional economy of billions.

Table of Contents

Toggle
  • A Week of Tension Leading to a Sudden Shutdown
  • Soludo’s Collective Punishment and the Real Trader Grievances
  • What This Means

A Week of Tension Leading to a Sudden Shutdown

The crisis escalated rapidly over a single, tense week. On Wednesday, January 21, Anambra’s State Executive Council held a retreat and formally declared an end to the long-standing Monday “sit-at-home” order across the state, which had been enforced by fear. All markets, including Onitsha Main Market, were directed to resume full operations on Mondays.

Who Really Runs Onitsha? The Multi-Billion Naira Standoff That's Testing Soludo's Power

However, on Monday, January 26, Governor Soludo visited the market and found shops still closed. In a dramatic, on-the-spot decision criticized as impulsive and heavy-handed, he ordered the immediate, one-week closure of the market and deployed security forces to seal it. The shutdown was to last until Saturday, January 31, with a warning that failure to fully reopen on Monday, February 2, could result in a one-month closure.

Soludo’s Collective Punishment and the Real Trader Grievances

Governor Soludo’s administration frames the traders’ defiance as “economic sabotage” and “wilful defiance,” claiming the state loses ₦8 billion every Monday in market activity. The state’s response, however, has been to enact what critics call collective punishment. Beyond the market closure, the government has also banned Monday school closures and will enforce pro-rata salary payments for civil servants from February, meaning they will lose pay for missing Mondays.

For the traders, the government’s response ignores the core of the problem. Their protest is not just disobedience; it’s driven by a complex web of grievances.
Some of which include a lack of security, which traders argue the government has not addressed the fundamental issue of security on the routes to the market on Mondays, leaving them vulnerable.

There’s also the issue of a broader shutdown, where authorities argued that the continued closure of banks on Mondays halts the flow of cash and customers, making commerce nearly impossible even if shops were open.

Additionally, the “sit-at-home” is deeply intertwined with support for the detained IPOB leader Nnamdi Kanu. Videos from the protest show traders chanting in his support, indicating Soludo’s orders cannot erase a potent political sentiment.

Some legal analysts are now questioning the constitutionality of Soludo’s “collective punishment,” arguing the move may be on shaky legal ground.

What This Means

The standoff asks a fundamental question: who truly controls Onitsha? The government’s power is being tested not by a rival political party, but by a deep-seated climate of fear and a trader community pushed to its limit.

The Anambra House of Assembly has backed the governor, arguing the shutdown is for “the common good.” However, lawmakers’ own broader figures reveal an even more staggering cost: the state loses N19.6 billion every single Monday, with the broader Southeast region hemorrhaging nearly N88 billion weekly. By closing the market, Soludo has effectively chosen to halt all trade rather than solve the underlying crisis.

For small business owners, this is an existential threat. Lawmakers admit that SMEs bear 60% of the financial losses, with micro-businesses losing an estimated N4.6 trillion annually.

Governor Soludo has chosen confrontation over addressing the complex realities of fear and logistics. The result is a lose-lose scenario: traders feel targeted and unsafe, the state bleeds revenue, and the governor’s authority appears more fragile than ever. Until the government addresses the real grievances over security, banking, and political sentiment, its threats only deepen the very crisis it claims to be solving.

Tags: federal charactergovernmentNairaNewsNigeriaOnitshasoludo
Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

Related Posts

Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar
Government

Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar

January 28, 2026
Inside the Luxury Scandal That Landed South Korea's Ex-First Lady in Prison
Government

Inside the Luxury Scandal That Landed South Korea’s Ex-First Lady in Prison

January 28, 2026
Traitors in Uniform? The Secret Plot That Has Nigerian Officers Facing Treason
Government

Traitors in Uniform? The Secret Plot That Has Nigerian Officers Facing Treason

January 28, 2026
Next Post
Inside the Luxury Scandal That Landed South Korea's Ex-First Lady in Prison

Inside the Luxury Scandal That Landed South Korea's Ex-First Lady in Prison

Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar

Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar

Nkechi Blessing Apologizes To Imisi Over Controversial Birthday Question

Nkechi Blessing Apologizes To Imisi Over Controversial Birthday Question

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

12 Die in Niger Auto Crash.

People Killed in Kano Auto Crash

3 years ago
Behind the Spotlight: The Dark Side of Envy in the Entertainment Industry

Behind the Spotlight: The Dark Side of Envy in the Entertainment Industry

1 year ago
Gaza War: ICC Refuses to Back Down on Israel

Israel Says New York Is ‘Walking Into the Abyss’ After Mamdani Win

3 months ago
Access Bank Reduces Its Operating Hours, Spends More Than 77 billion Naira on Energy.

Access Bank Reduces Its Operating Hours, Spends More Than 77 billion Naira on Energy.

3 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump UK ukraine US
No Result
View All Result

Highlights

Who Really Runs Onitsha? The Multi-Billion Naira Standoff That’s Testing Soludo’s Power

Angela Okorie Arrested Over Alleged Cybercrime Linked To Mercy Johnson

January​‍​‌‍​‍‌ Transfer Window: Late Twists, Big Deals and Drama on the Final Day!

A Bleak Start to 2026 as Black Market FX Batters the Naira

Katy Perry Mobilises Fans Against ICE Funding After Fatal Shootings

Peller Reverses University Decision Days After Celebrating Admission

Trending

Nkechi Blessing Apologizes To Imisi Over Controversial Birthday Question
Entertainment

Nkechi Blessing Apologizes To Imisi Over Controversial Birthday Question

byAyobami Owolabi
January 28, 2026
0

Nollywood actress Nkechi Blessing Sunday has issued a public apology to Big Brother Naija season 10 winner,...

Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar

Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar

January 28, 2026
Inside the Luxury Scandal That Landed South Korea's Ex-First Lady in Prison

Inside the Luxury Scandal That Landed South Korea’s Ex-First Lady in Prison

January 28, 2026
Who Really Runs Onitsha? The Multi-Billion Naira Standoff That's Testing Soludo's Power

Who Really Runs Onitsha? The Multi-Billion Naira Standoff That’s Testing Soludo’s Power

January 28, 2026
Angela Okorie Arrested Over Alleged Cybercrime Linked To Mercy Johnson

Angela Okorie Arrested Over Alleged Cybercrime Linked To Mercy Johnson

January 28, 2026

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Nkechi Blessing Apologizes To Imisi Over Controversial Birthday Question
  • Acid? Bleach? Poison? What FBI Tests Reveal About the Liquid That Hit Ilhan Omar
  • Inside the Luxury Scandal That Landed South Korea’s Ex-First Lady in Prison

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com