Recent reports suggest that the controversy surrounding Senate President Godswill Akpabio centers around suspicions that he may be unable to counter what certain northern senators refer to as the 'Yorubanisation' of the nation's financial system and economy. Some conspiracy theories have circulated, hinting at plots against Akpabio's leadership, although the Senate has denied these allegations, asserting its unity under his leadership.

Despite these denials, new information from the Daily Sun claims that some senators are dissatisfied with Akpabio due to his perceived inability to curb the growing influence of the Yoruba community in the financial sector. They are also concerned about his handling of powerful interest groups, particularly those associated with petroleum importation and electricity distribution companies, regarding financial deals such as a proposed 40 percent electricity tariff increase and outstanding payments to fuel importers.

Among the senators reportedly regrouping to challenge Senator Akpabio are former governors from the North and at least one from the South-South region. The group has chosen Senator Elisha Abbo of Adamawa North, an APC member, as its spokesperson.

During recent newspaper interviews, Senator Abbo accused Akpabio of favoring his rivals in the leadership contest and their supporters when distributing committee positions.

Sources within this group expressed concerns about the ongoing 'Yorubanisation' of key financial institutions, such as the Central Bank of Nigeria (CBN), Federal Inland Revenue Service, and Customs, where Yoruba leaders have recently been appointed. The group believes that installing a Senate President who can counter the influence of President Bola Tinubu is their goal.