The leader of the pan Yoruba socio-political organisation, Afenifere, Pa Ayo Adebanjo, on Saturday, alleged that the popular “Emi Lokan” chant by the All Progressives Congress (APC) presidential candidate, Asiwaju Bola Ahmed Tinubu, was the outcome of his succession agreement with President Muhammadu Buhari.
The former Lagos State governor came up with the term which means “it’s my turn” at a meeting he held with APC supporters in Abeokuta, Ogun State, before the party’s presidential primary in June last year.
At the event, Tinubu stunned Nigerians by declaring that Buhari would not have won the 2015 presidential election without his support.
However, Adebanjo, who addressed the Labour Party supporters at the Tafawa Balewa Square (TBS), Lagos, the venue of the party’s final presidential campaign rally, stressed that the term did not represent the interest of the Yoruba people.
The elder statesman is a major supporter of LP’s presidential candidate, Peter Obi.
He declared his support for the former Anambra State governor last year and stressed the need for the South-East to produce the country’s next president later this month.
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Adebanjo said: “The one who said ‘it is my turn’ is his agreement with Buhari.
“Emilokan didn’t say it is the turn of the Yoruba. Emilokan’s agreement with Buhari was that when Buhari leaves office, he will take over. (But) were you there when he said that?
“I said before that if Obi does not come in as the president, forget Nigeria. The northern elders now say I want to impose Obi on them. No! They want to impose a northerner on us, and we said no.”
Niger State government has filed a lawsuit against the Federal Government of Nigeria over the naira redesign policy of the Central Bank of Nigeria (CBN) at the Supreme Court.
A statement by Justice Nasara Danmallam, the Attorney General and Commissioner for Justice, in Minna on Saturday, said the case was filed with suit number SC/CV/210/2023.
This development joined the series of suits filed by five other state governments— Kaduna, Kogi, Zamfara, Ondo, Kano, controlled by the All Progressives Congress (APC), against the Nigerian government following the announcement of the naira redesign policy by the Central Bank of Nigeria (CBN).
Danmallam in the statement said the Niger State government was seeking for an extension of the timeframe given by the CBN for the currency swap and withdrawal from circulation of old N200, N500 and N1,000 amongst other reliefs.
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The statement branded the timeframe as unreasonable and argued it was in violation of section 13, 14 (2) (b), 17 (1) (c) of the 1999 Constitution as amended.
In the affidavit in support of the originating summons filed at the Supreme Court, the Niger government maintained that the unavailability of the new redesigned notes had caused untold hardships and sufferings on the inhabitants of the state, especially those living in rural areas across the state.
The statement lamented the inconveniences occasioned by the redesigned Naira policy, saying that the government would continue everything within its constitutional limit to cushion their sufferings
President Muhammadu Buhari on Saturday charged university administrators that would be engaged with different support services in the 2023 general elections to uphold a high degree of professionalism.
Speaking at the weekend at the 36/37 combined convocation of Bayero University Kano, Buhari insisted that his administration would provide a level playing field for the smooth implementation of the electoral process in Nigeria.
He said, “I urge those who’ll be involved in the elections to play their roles with the usual dignity and transparency for which our academics are very well known.
“There’s no doubt that the participation of academics and other staff of universities in our country’s general elections over the years has lent more credibility and respectability to Nigeria’s democratic processes.”
The president, represented by the Executive Secretary of the National Universities Commission, Prof. Abubakar Rasheed, also called on all Nigerians to work for the success of the elections to help move Nigeria forward.
This was disclosed in a statement via his verified Twitter handle on Thursday.
The President also revealed he has approved the establishment of a Presidential Transition Council, which would be chaired by the Secretary to the Government of the Federation, SGF.
Buhari wrote: “I have signed Executive Order No. 14 of 2023 on the Facilitation and Management of Presidential Transitions. The new Executive Order puts in place a legal framework for the seamless transition of power from one Presidential Administration to another.
“I have also approved the establishment of a Presidential Transition Council, to be chaired by the Secretary to the Government of the Federation (SGF), to facilitate and manage the 2023 Presidential transition programme.”
The federal government Wednesday filed a preliminary objection challenging the application by Kaduna, Zamfara and Kogi states against the implementation of the February 10 currency swap deadline.
In the objection filed by Mahmud Magaji (SAN), the federal government argued that the suit ought not to have been brought before the Supreme Court as the reliefs sought were against an agency of the federal government, the CBN on its powers to withdraw old banknotes and introduce new ones under the CBN Act, 2007.
The federal government argued that the Federal High Court had the proper jurisdiction to entertain such suits under Section 251(1)(a)(p)(q) & (r) of the Constitution (exclusive jurisdiction of the Federal High Court).
While contending that the action before the apex court constituted an abuse of judicial process, the federal government said the state governments have no locus standi and reasonable cause of action to warrant the “invocation of the original jurisdiction of this honourable court.”
Before the objection by the federal government, the Supreme Court earlier yesterday ordered the CBN to allow the use of the old N1000, N500 and N200 notes beyond February 10 and fixed February 15 to hear the case.
A seven-member panel of justices presided by Justice John Inyang Okoro made the restraining order in a unanimous ruling.
Arguing the motion, counsel to the governors of Kaduna, Kogi and Zamfara states, Abdulhakeem Mustapha (SAN) said the matter was important and had come with an affidavit of urgency.
But Magaji Mahmud (SAN), who announced appearance for the Attorney-General of the Federation, was not heard by the apex court being an ex parte motion.
It is just an order not a judgment- Presidency Source
Reacting to the Supreme Court order, a source in the Presidency said: “Generally speaking, it is not a judgment, it is just an order. An ex-parte order is a constitutional leverage specifically given to judges to make an order in exceptional circumstances granting the request of an applicant in a suit in the interim without hearing from the other party.
“The order is only temporary. The judge will hold a full hearing within a short period of time,” he said. Millions of Nigerians have been thrown into confusion following the mopping up of over 1.7trillion old naira notes and the glaring unavailability of the redesigned notes.
The development had led to endless queues in banking halls and ATMs as well as demonstrations in parts of the country.
Extend time – IMF
Lending its voice, the IMF said the CBN should consider extending the February 10 deadline for the swapping of old naira.
The Fund in a statement on Wednesday cited disruptions in trade and payments resulting from the exercise.
“In light of hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline, should problems persist in the next few days leading up to the February 10, 2023 deadline,” Ari Aisen, the Fund’s Resident Representative to Nigeria, said.
Buhari receives Emefiele, Malami
President Muhammadu Buhari yesterday met with the CBN governor, Godwin Emefiele as well as the Attorney General of the Federation and Minister of Justice, Abubakar Malami at the Presidential Villa, Abuja.
The meeting was held a few hours after the Supreme Court had restrained the federal government from enforcing the deadline of old naira notes.
Daily Trust findings revealed that Emefiele had met with Malami twice on Tuesday ahead of the Supreme Court judgment.
Tinubu/Shettima Campaign Council hails S/Court
The presidential candidate of the ruling All Progressives Congress (APC), Bola Ahmed Tinubu has hailed state governors for standing on the side of the Nigerian people over the CBN new naira policy.
Tinubu in a statement by Bayo Onanuga, the Director, Media and Publicity, APC Presidential Campaign Council, said the governors and especially the APC governors who instituted the suit against the CBN and federal government at the Supreme Court acted well on behalf of the hapless Nigerians who have been made to bear the brunt of naira redesign policy that has been “poorly implemented.”
Tinubu, a former governor of Lagos State, said the governors have saved the country from needless political and economic crises and miseries, which have clearly become the unintended consequences of the monetary policy of the apex bank.
Also, Governor Nasir El-Rufai of Kaduna State has urged the residents of the state, particularly traders, to stop taking the old notes to bank for deposit.
The governor also urged the people to continue transactions with the old notes, saying nobody can stop them even as the February 10 deadline approaches.
The governor also promised the traders and the people of the state that nobody in the state will lose his hard earned money because of the naira redesign policy.
El-Rufai in a video clip seen by Daily Trust on Social media, made the comment on Tuesday at a meeting with leaders of traders in the state. He told them to pass the message to others in their state to stop taking their money to banks.
“Stop taking your money to banks because when you deposit nine naira only one naira will be given to you because the notes are scarce.
“The law says if you have old notes with you even if it takes 100 years and you take it to the central bank it will be accepted. So keep your money with you even if it will take you 100 years,” he said.
Experts proffer solution as IMF seeks deadline extension
Economists and financial experts said yesterday that the only way to resolve the financial crisis in the country is to restore normal cash flow to restart the economy and ease the pains millions of Nigerians are going through.
The experts told the Daily Trust that the issues could be resolved when the right thing is done.
The CEO of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, welcomed the restraining order of the Supreme Court on the timeline for the currency swap. He said the action will restore normalcy to economic activities, especially in the distributive trade sector, the informal sector and rural economy.
The CPPE reiterates its position that given the huge population of over 200million, the large informal sector, which accounts for over 40% of the GDP, the large rural economy and the over 30 million unbanked Nigerians, the CBN cash swap model and timeline was greatly flawed.
“It is inappropriate to arbitrarily cut down on currency in circulation without due regard to data, empirical studies and global best practices,” he said.
According to Yusuf, “We affirm our position that N2.6 trillion in circulation is not too much for the Nigerian economy with a GDP of about N250 trillion. Any attempt to arbitrarily cut it will create a crisis.
“It is unacceptable that citizens are denied access to their cash deposited for purposes of cash swap. This could undermine the confidence of the citizens in the banking system and pose a major risk to the financial inclusion objective of the CBN.
“In Nigeria, cash to GDP ratio is less than 1.5%; while cash/money supply ratio is just about 5%. These are some of the best currency ratios globally and a mark of the remarkable progress that has been made in cashless policy drive. Cash to GDP in the United States is about 9%; in the Eurozone it is about 10%.
“This underlines the fact that cash is not the problem of the Nigerian economy or monetary policy effectiveness. CBN Ways and Means financing of over N22 trillion is a much bigger problem for liquidity management.
“It is regrettable that a purely monetary policy management issue has been profoundly politicised as witnessed in the past few weeks. This has obscured fundamental economic conversations,” he said.
Also speaking, an economist, Prof. Uche Uwaleke noted that it will be difficult to quantify how much money is in circulation that will determine if Nigeria’s economy is cashless or not. He, however, said that the CBN should increase supply of the new notes and expand its supply channels.
“If CBN says maximum over the counter withdrawals for a week is N500, 000 for individuals, then it should expand the supply chain for the new notes.
“The micro finance banks and more PoS operators should be involved in the supply chain. Also, the lower denominations should be printed more to ensure that the new notes reach Nigerians, especially traders that carry out their functions,” he said.
On the other hand, he urged the CBN to obey the order of the Supreme Court on the February 10 expiration of old notes.
“All over the world, especially where central banks are independent, the conduct of monetary policy is their exclusive preserve- a responsibility not encumbered by either the executive arm or the Judiciary,” he said
The Supreme Court on Wednesday restrained the Central Bank of Nigeria (CBN) and the Federal Government have from effecting the February 10, 2023 deadline to phase out the old Naira notes.
In a ruling delivered by a seven-man panel of the Supreme Court led by Justice John Okoro, granted an ex parte application that the old Naira notes will remain a legal tender until a final decision has been made on the suit brought to the court by three northern states; Kaduna, Kogi and Zamfara.
Recall with 𝕹𝖔𝖇𝖑𝖊 𝕽𝖊𝖕𝖔𝖗𝖙𝖊𝖗𝖘 𝕸𝖊𝖉𝖎𝖆 that the CBN had redesigned the N200, N500 and N1,000 banknotes, and released the new currencies in December 2022.
The financial regulator also informed Nigerians that the old Naira notes would cease to be legal starting from January 31, 2023, but it later extended the deadline to February 10, 2023.
Kaduna, Kogi and Zamfara governments dragged the CBN and FG to court over the impact of the transition from old Naira to the new Naira notes.
Through their counsel, AbdulHakeem Uthman Mustapha (SAN), they asked the Surpreme Court to intervene as the deadline would increase the hardship of persons living within the three states.
They applied for an interim injunction through an ex-parte motion to temporarily halt the CBN and Nigerian commercial banks from enforcing the deadline to phase out the old Naira
Mustapha told the court that, “Unless this Honourable Court intervenes, the Government and people of Kaduna, Kogi and Zamfara State will continue to go through a lot of hardship and would ultimately suffer great loss as a result of the insufficient and unreasonable time within which the Federal Government is embarking on the ongoing currency redesign policy.”
The three states argued that their residents have deposited their money to the banks as directed by the central bank, but there’s insufficient of new Naira notes to meet the demands of their citizens.
They said the 10 days extension of the deadline is not enough to cushion the chaos and hardship the Naira redesign policy has caused their residents, as they are still unable to access their money to finance their daily activities.
President Muhammadu Buhari has disclosed what the late First Republic Aviation Minister, Mbazulike Amaechi told him about Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB.
Buhari disclosed that Amaechi informed him that releasing Kanu would bring peace and stability, and rebuild the Southeast.
He spoke while eulogizing Amaechi, whom he described as a patriot whose character Nigerians should emulate for the peace and growth of the country.
Represented by the Minister of Labour and Employment, Chris Ngige, the president spoke on Tuesday at a ‘Day of Tribute’, organised in honour of Amaechi in Abuja.
The president narrated that Amaechi accommodated the late South African President, Nelson Mandela, in his house in Lagos.
Buhari said that when Mandela was declared wanted by the then-apartheid regime in South Africa, he sought refuge in Amaechi’s house.
He noted that such a gesture stands out the late elder statesman as a patriot and lover of humanity.
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Buhari said Amechi would be missed as his demise would leave a vacuum in the sands of history in the country.
The President said, “Mbazulike Amechi is an epitome of what every Nigerian leader should be aspiring to be. He was a man of peace and did everything possible to ensure that there is unity and peace in every part of the country.
Spokesman for the Northern Elders Forum (NEF), Hakeem Baba-Ahmed, has warned the Nigerian government against pushing vulnerable Nigerians into war, in light of the attendant consequences of naira and cash scarcity in the country.
Baba-Ahmed in a tweet on Tuesday condemned the challenges facing the masses as a result of destructive policies of the government.
He wrote: “How much can the people endure? Cant buy, cant sell, cant eat, cant move, not safe, not heard, not relevant. Is this politics or poor governance? Please do not push the poor too hard.”
An emergency meeting of the Council of State, convened by President Muhammadu Buhari will hold on Friday to discuss national crises including petrol and naira scarcity, insecurity and others, ahead of the general elections.
The national crises had led to protests in various parts of the country.
𝕹𝖔𝖇𝖑𝖊 𝕽𝖊𝖕𝖔𝖗𝖙𝖊𝖗𝖘 𝕸𝖊𝖉𝖎𝖆 gathered that the governor of the Central Bank of Nigeria (CBN) is expected to provide an update on the new currency redesign policy scheduled to take place at the Council Chambers, Presidential Villa, Abuja, at 10 am.
Credible Presidency sources told this paper that the Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu as well as the Inspector General of Police (IGP), Usman Alkali Baba, will brief the council on the preparation for the February 25 presidential and National Assembly elections as well as March 11 governorship and state houses of assembly polls.
The meeting, 𝕹𝖔𝖇𝖑𝖊 𝕽𝖊𝖕𝖔𝖗𝖙𝖊𝖗𝖘 𝕸𝖊𝖉𝖎𝖆 learnt, will take major decisions to douse tension ahead of elections and avert a potential national crisis given anger over the scarcity of new naira notes. The National Council of State is an organ of the Nigerian government whose functions include advising the executive on policy making.
Membership of the Council comprises President Buhari, Vice President Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha, former presidents, former heads of state, former chief justices of Nigeria, President of the Senate, Ahmad Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, governors of the 36 states of the federation and the Attorney General of the Federation, Abubakar Malami (SAN).
Afenifere sets agenda for council
Pan Yoruba socio-political group, Afenifere, Tuesrday set the agenda for the Council of State ahead of its meeting.
Coming against the backdrop of the naira scarcity and fuel shortage, which has crippled businesses, the group said there must be solutions to the current challenges from the Council of State meeting.
National Publicity Secretary of Afenifere, Comrade Jare Ajayi in a chat with Daily Trust, said Nigeria is in a critical moment and tasked members of the council to come up with pragmatic solutions to the crises at hand.
He said, “This is a momentous period in Nigeria given the number of lives that have been lost, given the number of businesses that have collapsed and are in danger as a result of the unavailability of naira, people are queuing in the banks to get the cash they don’t get the cash.
“A lot of lives have been lost in the process and of course, a lot of people are queuing in the petrol stations, they are not getting fuel.
“And within the next few weeks, we would be undergoing elections. We are calling on President Muhammadu Buhari and all the past presidents and heads of state as well as governors and retired chief justices and all those who are members of the Council of State to realise that this is a crucial moment in the annals of Nigeria.
“We are saying that first, CBN must flood the commercial banks with cash, especially new currencies. Two, the deadline must be extended. February 10 is certainly unrealistic. It must be extended for at least the next three months.
“Afenifere is insisting that February 10 is unrealistic for Nigerians to be able to get the currencies.
“On the issue of fuel scarcity, NNPCL must be geared up. What we are experiencing is not what we should be experiencing given the fact that God endowed us with crude oil. We shouldn’t be suffering and coming at a time when we are facing this election, it is also something terrible about our country. So the petrol scarcity and currency crunch must be addressed.
“Also the need to ensure free, fair and credible elections must attract the attention of the council of state. So that tomorrow we would hear that the president has extended the deadline for the currency swap from February 10 to at least the next three months and then, of course, all necessary machinery must be put in place to ensure free, fair and credible elections.”
Efforts to get the northern elders to set agenda ahead of the council meeting yielded no result.
We need cash to conduct elections – INEC
The Central Bank of Nigeria (CBN) has assured the Independent National Electoral Commission (INEC) as well as Nigerians that the apex bank would not do anything inimical to the success of the 2023 general elections.
The CBN governor, Mr. Godwin Emefiele, gave the assurance on Tuesday when he hosted the INEC management led by its chairman, Prof. Mahmood Yakubu, at the CBN headquarters in Abuja.
Yakubu who spoke earlier told the CBN governor of the impact of the naira redesign policy on the successful conduct of the elections.
The INEC boss, therefore, requested concessions regarding the naira redesign policy with specific reference to the limitations placed on cash withdrawals and the need to make some cash available for some peculiarities that cannot be met with electronic transfer of monies.
According to him, some of the service providers, especially transporters are required to be paid in cash and aside from that, experience has shown that emergencies do arise on election day, which could demand the use of cash by the commission.
“I am encouraged by the continued willingness of the apex bank to support the commission’s determination to deliver credible elections on February 25 and March 11, 2023. Particularly, the facilitation of activities necessary for the success of the election, in an area where the CBN has exclusive responsibility.
“Nigerian election is a huge and complex undertaking that requires the engagement of critical services and in line with the provisions of the extant laws and regulations, service providers are generally paid by means of electronic transfer to the accounts.
“However, there are equally critical areas, such as transportation and human support services that have to be immediately remunerated, either partially or in full before services are rendered.
“In addition, emergency situations may arise requiring immediate cash payments. Some of the critical service providers are unbanked. Over the years we have worked with the CBN and commercial banks to pay for such services seamlessly during general elections, as well as off-cycle and bye-elections.
“Over the years, the commission has also migrated all its accounts at the national and state level to the CBN. And this arrangement has worked without encumbrances to our activities. In view of the recent policy, involving the redesign of some denominations of our national currency and the limits placed on cash withdrawals and availability. We consider this meeting important in addressing some of the areas of concern with just 17 days to the 2023 general election.
“We are confident that arising from this meeting, we can assuage the anxiety expressed by some of our service providers who are determined to make the 2023 general election one of the best-organised elections in Nigeria, but we cannot do it alone. That is why the commission is mobilising every critical national institution for the success of the election. This meeting is part of this effort,” Yakubu said.
Responding, Emefiele said he would ensure the CBN is not seen as an agent to thwart the forthcoming general election, assuring that the apex bank would provide INEC needed naira notes as required.
“The relationship between the CBN dates back to even before I became the governor and that relationship, I will say, borders purely on trust and confidence.
“We also appreciate and truly do appreciate the fact that the INEC supported by the Nigerian populace has the trust and confidence in the ability of the central bank in playing the roles that we have played for you so far to ensure that our elections hold without any hitches. Before now, we’ve been involved in the storage of INEC election materials and involved using our armoured bullion van in transporting electoral materials.
“I know that just a few months ago, I visited your office and you raised the issue of how foreign exchange can be procured for you to import Bimodal Voter Accreditation System (BVAS) and other forms of election material that need to be imported and I gave you my word that foreign exchange will be provided for that purpose. I stand here to confirm that as of today, all dollars that are needed to import those items have been provided and those items have been imported.
“So, it’s all part of our commitment. Now this issue of pain and logistics for people who are going to be transporting election materials, certainly, the assurance I give to you is that because we regard the INEC project as a topmost or an urgent national assignment, and therefore, it cannot fail and the central bank would not allow itself either to be used or to be seen as an agent that frustrated a positive outcome of that election.”
President meets Tambuwal, Bagudu, CBN gov, others at Aso Rock
Meanwhile, President Muhammadu Buhari Tuesday held a closed-door meeting with the Chairman of the Nigeria Governors’ Forum (NGF), Governor Aminu Waziri Tambuwal of Sokoto State as well as the Chairman of the Progressive Governors’ Forum (PGF), Governor Atiku Bagudu Abubakar of Kebbi State at the Presidential Villa, Abuja.
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The meeting was attended by the Secretary to the Government of the Federation (SGF), Boss Mustapha and Chief of Staff to the President, Professor Ibrahim Gambari, governor of CBN, Godwin Emefiele and the Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.
Last Friday, the president had implored citizens to give him a seven-day window, which lapsed on February 10 to resolve the currency crunch that had emanated from the implementation of the Central Bank policy to change high-value naira notes with newly designed ones after a meeting with the All Progressives Congress (APC) governors.
Buhari had equally assured that he would be meeting with both the CBN and the Nigeria Security Printing and Minting Company and a decision would be taken based on current realities in the best interest of the people.
The governors of the ruling party had asked that the president direct an adequate injection of the new notes and the continued utilisation of the old ones until the end of the year.
The governments of Kaduna, Kogi and Zamfara states have sued the federal government and the CBN before the Supreme Court over the currency redesigning and “de-monetisation” policy.
However, an FCT High Court had on Monday restrained the CBN, President Buhari and 27 commercial banks from extending or sabotaging the currency redesigning and cash withdrawal limit policy in the country.
President Muhammadu Buhari has approved the Central Bank of Nigeria’s (CBN) request for the extension of the deadline for swapping of old Naira notes to the redesigned ones.
A seven-day grace period, beginning on February 10 to February 17,2023, has also been approved to enable Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.
10-day extension of the deadline from January 31, 2023, to February 10, 2023; to legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.”
Whiile, “A 7-day grace period, beginning on February 10 to February 17,2023, in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.”
This followed the President’s meeting with the apex bank’s governor, Godwin Emefiele, in his country home in Daura, Katsina State on Sunday.
Emefiele briefed correspondents after the meeting, revealing that 75 percent of the N2.7 trillion held outside the banking system has been recovered.
He said, “We are happy that so far, the exercise has achieved a success rate of over 75 percent of the N2.7 trillion held outside the banking system. Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise.
“Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange.
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Based on the foregoing, we have sought and obtained Mr President’s approval for the following:
Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.
“We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free the implementation of this very important process for program.”
President Muhammadu Buhari on Tuesday held a meeting with representatives of the state governors and the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
Also present at the meeting which held behind closed doors at Aso Villa, Abuja was the chairman Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.
Chairman of the Nigeria Governors’ Forum, Aminu Tambuwal; and the Chairman of the Progressives Governors’ Forum, Atiku Bagudu represented state governors.
Details from the meeting have not been made public as at the time of this report, but feelers suggest it may have been called to discuss and find a solution to the cash crunch which has hit the nation in recent times, over the cash swap and naira redesign policy of the apex bank.
Though details of the meeting was not made public, it comes after a meeting originally scheduled with the Nigerian Governors’ Forum was cancelled.
State House sources however, believe the meeting was cancelled following a court order that stopped the Federal Government from extending the February 10 deadline for the swapping of three old naira notes set by the CBN
The Federal Government has blamed opposition parties for “restricting” President Muhammadu Buhari from putting an end to the sufferings Nigerians are going through due to the cash crunch resulting from the naira redesign.
Minister of Information and Culture, Lai Mohammed, who made the accusation at the 23rd edition of Buhari’s administration scorecard series (2015-2023) on Tuesday in Abuja, said the Federal Government was not unmindful of the inconveniences being faced by Nigerians because of the redesigning of the naira notes and fuel supply disruptions, but said attempts by Buhari to ameliorate the pains have been truncated by unscrupulous opposition parties.
The Minister said it was however, surprising that some opposition political parties ran to court to “obtain an injunction restraining the President and and the Central Bank of Nigeria from extending the February 10 deadline for Nigerians to swap their old notes for new ones.”
“The court action came after a number of opposition parties threatened to boycott the 2023 general elections if the deadline was extended,” he said.
“These curious actions by the parties concerned are clear evidence that the opposition has turned this whole issue into a political game, preferring to make Nigerians suffer more on the altar of an unconscionable political gamesmanship.
“Or how else can one explain the fact that these unscrupulous opposition parties don’t want any action that could reduce the pains being experienced by Nigerians?” Mohammed queried.
On February 1, Governor El-Rufai claimed that some elements in the presidency were working underground against the success of the APC candidate in the February 25 election.
The governor, who spoke on a Channels Television programme, Sunrise Daily, said: “I believe there are elements in the Villa that want us to lose the election because they didn’t get their way; they had their candidate. Their candidate did not win the primaries.
A former director of civil society in the All Progressives Congress (APC) campaign council, Naj’atu Muhammad, on Monday alleged that the wife of the president, Aisha Buhari, is a member of the “cabal” controlling the machinery of government in the State House, Abuja.
The Kaduna State Governor, Nasir El-Rufai, had last Wednesday claimed that some elements in the presidential villa are working against the success of the APC presidential candidate, Bola Ahmed Tinubu, in this month’s election.
El-Rufai, who spoke on a Channels Television’s programme, Sunrise Daily, insisted that the individuals in question are still bitter that their candidates lost out in the June 2022 primary election that produced the former Lagos State governor as APC candidate for the February 25 presidential election.
The president wife later shared a video clip of the interview with the caption: “#longlivethe federalrepublicofnigeria” on her Instagram page to fuel insinuations about her support for the governor’s claims.
However, Na’jatu, who featured in a programme on Arise TV, insisted that Mrs. Buhari is a member of the cabal she frequently complained about in the media.
The former senatorial candidate has been critical of the APC and its presidential candidate since she resigned from the position and joined the Peoples Democratic Party (PDP) last month.
She said: “A cabal is a secret political group or faction that is masked and manipulates and controls everything that runs in the government. That is what a cabal is. One of the cabals is Aisha Buhari.
“Aisha Buhari that is talking today is part of the cabal. She confirmed that there is a cabal in the villa by resharing what El-Rufai said.
“But I am saying that she is part of the cabal. Aisha Buhari’s brother, same mother, and father, is the DG of Nigerian Security Printing and Minting (NSPM) Plc.
President Muhammadu Buhari has joined fans and lovers of Nigerian music in celebrating the new heights of recognition and appreciation as Afrobeat crooner, Tems, wins the “Best Melodic Rap Performance” category at the Grammy Awards.
Buhari, in a congratulatory message by his spokesman, Mr Femi Adesina, on Monday in Abuja extolled Tems, born Temilade Openiyi, for showcasing her talent to the world, with dedication and hard work.
According to him, this again has placed Nigeria in the spotlight for excellence.
The president lauded all Nigerian nominees for this year’s Grammy, including Burna Boy, for pursuing their passion with vigour and continuously reinventing global entertainment with creativity.
He thanked the creative industry, particularly managers, producers and directors, for encouraging talents like Tems, who has taken Nigeria’s culture and tourism to the world.
This formed the basis of the text of a press conference jointly addressed by the Osun Civil Societies Coalition and the People’s Advocates on the lingering scarcity of fuel and the redesigned Naira notes in the country on Monday, February 6, 2023, in Osogbo.
The statement jointly signed by Waheed Lawal and Emmanuel Olowu, Chairman and Publicity Secretary, Osun Civil Societies Coalition and The Peoples Advocates alluded to the fact that Nigerians are going through hell to get fuel and cash for personal use and business purposes.
While accusing the CBN of refusal to make available the redesigned Naira notes, they alleged that it amounted to a deliberate attempt to punish Nigerians unjustly.
It also demanded that the Central Bank of Nigeria make enough amount of the new Naira notes available to the banks for onward disbursement to the general public.
“Considering the pains being experienced by the common men in getting cash for their livelihood, it would not be out of place to declare that the President Muhammadu Buhari-led Federal Government is inconsiderate and insensitive to the plight of the citizens.
“We need not to tell you the agony of Nigerians who queue for more than six hours to get cash from ATM. Some people are even unlucky as they will not be able to get cash at the end of the day after spending several hours in the queue.
“The Central Bank of Nigeria led by Mr Godwin Emefiele has clearly been playing hide-and-seek in the circulation of the new naira notes. We acknowledged the fact that there are saboteurs among the top echelon of the banking industries but the CBN has not also released enough amount of the redesigned denominations to banks through which they can be disbursed to the generality of people. This is responsible for the ridiculous amount of cash being paid to people over the counter.
“Economically, the scarcity of cash has crippled many businesses and further pushed millions of Nigerians far below the poverty line. Petty traders no longer make sales because of cash transactions which their trading depends upon. We make bold to say that this financial policy of the Federal Government is doing more harm than good presently. There should have been another way round to maintain a balance between cash control and the wellbeing of the people.”
Describing the sufferings of Nigerians as double jeopardy, the Civil Societies Organisations added that President Muhammadu Buhari has been laying lip service to ensuring that fuel is available at an affordable rate for Nigerians even as he directly supervises the Ministry of Petroleum Resources.
“It equally speaks volumes of a President that has been supervising everything that has to do with petroleum resources to ask for seven days to address the fuel scarcity.
“The two key issues have taken away the dignity of the majority of Nigerians. We have seen videos where men and women stripped themselves naked in protest against their inability to get cash. Car owners have long been sleeping at filling stations for fuel. Many people have been injured as a result of fights at filling stations and ATM centres. In Osun today, we have filling stations selling fuel between N350 and N400 per litre. The masses remain the end receiver of this economic mismanagement. The reverberating effect falls on the common people who go to the market to buy foodstuffs, board public transport, pay bills, etc.”
While calling for an urgent address of the calamities, the group warned that if action is not taken, violent protests may be triggered nationwide.
“It is the awareness of this fact, coupled with the intelligence report that made us to suspend the mass protest that was supposed to be held today. We do not want to create a platform for some elements whose only language is violence. The outcome of last week’s protest in Ibadan and Benin is an indication that Nigeria is sitting on a keg of gunpowder. The hardship is becoming unbearable to the generality of the people.
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“While we suspend our protest for today, we will hit the streets anytime soon if the cash and fuel scarcity persists.”
The group also called on security operatives and anti-graft agencies to go after bank managers and other officials who have been hoarding the new naira notes and sabotaging other processes of getting the new denominations widely circulated.
Adams Oshiomhole, a chieftain of the All Progressives Congress (APC), has claimed that President Muhammadu Buhari was deceived into approving the naira redesign policy of the Central Bank of Nigeria (CBN).
While speaking on a political programme on the Channels Television on Sunday night, Oshiomhole, a senatorial candidate on the platform of the APC, claimed that the Governor of the CBN, Godwin Emefiele, took advantage of the president’s zero tolerance for corruption to convince him to approve the policy.
Oshiomhole who was reacting to Governor Nasir El-Rufai of Kaduna State’s comment on forces working against the APC in the forthcoming general elections said the policy was designed to truncate the general election slated for February and March 2023.
He said: “CBN’s naira redesign policy is senseless… CBN deceived Buhari and the intention behind it was to stop the elections.
“Having worked as a chairman [of APC] which enabled me to work directly with the president, I know the trick that the CBN played.
“We have a president who has told the world that if Nigeria does not kill corruption, corruption will kill Nigeria. So, I can guess that in obtaining the approval that the president said he gave, I believe the CBN deceived the president by amplifying the need to have a corruption-free electioneering as if election is the only project which the president has the responsibility for.
“I am shocked that the CBN could pursue this senseless policy. It is not about the idea of changing currency, this governor has broken no new ground because we have changed currency before and I dare him to check the records.
“When Gen Buhari changed the colours of the naira when he did in his first coming as the military head of state, he did not forbid the banks from paying people in new notes, he did not impose restriction as to how much you can withdraw provided it is your lawful money.
“To assume that every Nigerian is corrupt…and that this policy is meant to check corruption, the CBN is not part of institutions charged with the responsibility of ensuring free, fair and credible election.”
Governor El-Rufai on Thursday said he would expose the “elements” in the Presidential Villa who are working against the presidential candidate of the APC, Bola Tinubu and want him to lose the 25 February election.
El-Rufai alleged that the currency swap introduced by the CBN was meant to incite voters against the APC and was orchestrated by the forces who are bent on ensuring that the APC presidential candidate lose the election.
El-Rufai said the unnamed people hiding behind President Buhari were pursuing their interests by inciting the voters against the APC through the currency swap.
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Oshiomhole re-echoed El-Rufai’s claims, stressing that the naira redesign was not meant to stop abuses as claimed by the CBN governor but to truncate the electoral processes.
The former APC National Chairman said: “I think what El-Rufai is saying is when you have a pocket of riots and protests here and there…you may end up with the situation where you are unable to conduct an election.”
The CBN had announced the new naira notes policy on 26 October, 2022 and initially gave 31 January as the deadline for the use of the old notes, but later extended it to February 10.
Adams Oshiomhole, a chieftain of the All Progressives Congress (APC), has claimed that President Muhammadu Buhari was deceived into approving the naira redesign policy of the Central Bank of Nigeria (CBN).
While speaking on a political programme on the Channels Television on Sunday night, Oshiomhole, a senatorial candidate on the platform of the APC, claimed that the Governor of the CBN, Godwin Emefiele, took advantage of the president’s zero tolerance for corruption to convince him to approve the policy.
Oshiomhole who was reacting to Governor Nasir El-Rufai of Kaduna State’s comment on forces working against the APC in the forthcoming general elections said the policy was designed to truncate the general election slated for February and March 2023.
He said: “CBN’s naira redesign policy is senseless… CBN deceived Buhari and the intention behind it was to stop the elections.
“Having worked as a chairman [of APC] which enabled me to work directly with the president, I know the trick that the CBN played.
“We have a president who has told the world that if Nigeria does not kill corruption, corruption will kill Nigeria. So, I can guess that in obtaining the approval that the president said he gave, I believe the CBN deceived the president by amplifying the need to have a corruption-free electioneering as if election is the only project which the president has the responsibility for.
“I am shocked that the CBN could pursue this senseless policy. It is not about the idea of changing currency, this governor has broken no new ground because we have changed currency before and I dare him to check the records.
“When Gen Buhari changed the colours of the naira when he did in his first coming as the military head of state, he did not forbid the banks from paying people in new notes, he did not impose restriction as to how much you can withdraw provided it is your lawful money.
“To assume that every Nigerian is corrupt…and that this policy is meant to check corruption, the CBN is not part of institutions charged with the responsibility of ensuring free, fair and credible election.”
Governor El-Rufai on Thursday said he would expose the “elements” in the Presidential Villa who are working against the presidential candidate of the APC, Bola Tinubu and want him to lose the 25 February election.
El-Rufai alleged that the currency swap introduced by the CBN was meant to incite voters against the APC and was orchestrated by the forces who are bent on ensuring that the APC presidential candidate lose the election.
El-Rufai said the unnamed people hiding behind President Buhari were pursuing their interests by inciting the voters against the APC through the currency swap.
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Oshiomhole re-echoed El-Rufai’s claims, stressing that the naira redesign was not meant to stop abuses as claimed by the CBN governor but to truncate the electoral processes.
The former APC National Chairman said: “I think what El-Rufai is saying is when you have a pocket of riots and protests here and there…you may end up with the situation where you are unable to conduct an election.”
The CBN had announced the new naira notes policy on 26 October, 2022 and initially gave 31 January as the deadline for the use of the old notes, but later extended it to February 10.
The Abuja School of Social and Political Thoughts (ASSPT) has disclosed that some Nigerian politicians are putting pressure on President Muhammadu Buhari to compromise the forthcoming general election.
The group stated that the statements made by politicians suggesting that the President has a responsibility to interfere in the electoral process to guarantee success for members of the All Progressive Congress (APC) are worrisome, noting that it is the responsibility of the Independence Electoral Commission, INEC to conduct the elections.
The director of ASSPT, Dr Sam Amadi, who made the disclosure in Abuja during the weekly briefings on the preparation towards free, fair and credible elections in 2023, stated that attempts to shame the President into taking sides in the electoral process are efforts to further compromise the credibility of the elections.
According to him: “The history of electoral malpractices in Nigeria shows that it is mainly the involvement of incumbents in the process of an election that usually compromises the freeness of elections. It is a good happenstance that in the coming election, President Buhari is not on the ballot, even if his party is on the ballot.
“It rests on the President regarding a secured environment for free and fair polls. It is never the responsibility of the President to help any candidate win an election. The President does not conduct elections. No one should goad him to act unconstitutionally and undermine his pledge to Nigerians and the international community.”
He further stated: “Instead of harassing the President in respect of presumed non-support for his party’s candidate, these politicians should be pressing the President to extract implementation strategy from his military and police chiefs on how to defeat the terrorist army, insurgents and notorious criminals who would want to undermine electoral integrity through criminal actions and scaremongering.”
The group commended President Buhari for continuously restating his determination to leave a legacy of credible elections, and his steadfast decision not to interfere with the electoral process.
Also, speaking on the post-Osun tribunal decision, Amadi said: “It is not democracy for courts to determine over 50% of elections. It is a tragedy that voters do not know if their votes determine who wins the election. The court should rarely be involved in determining who becomes president, governor or legislator.
He alleged: “In the next three weeks, Nigerians are going to the polls not being sure who will ultimately be a candidate because the courts will continue to invalidate and impose candidatures.”
President Muhammadu Buhari at the weekend condemned the attack on vigilantes at Yargoje forest in Kankara Local Government Area of Katsina, where many lives were lost.
𝕹𝖔𝖇𝖑𝖊 𝕽𝖊𝖕𝖔𝖗𝖙𝖊𝖗𝖘 𝕸𝖊𝖉𝖎𝖆 reports that the Police Command in Katsina State had on Friday confirmed the death of 41 members of local vigilance groups, “Yansakai”, in an ambush by terrorists in Yargoje forest.
The terrorists ambushed a convoy of vigilantes in the forest as they went to recover stolen cows leading to the killings.
Reacting, Buhari paid tribute to all those vigilantes and family members who have been martyred, saying that the sacrifices of the brave men who are working to stop and punish crime in their communities will not be forgotten.
This was disclosed in a statement issued by Buhari’s media aide, Garba Shehu, on Sunday.
The former Chief of Army Staff, COAS, Lt. Gen. Tukur Buratai (retd) said President Muhammadu Buhari has fulfilled his promise to subdue Boko Haram and Islamic State of West Africa Province, ISWAP, terrorists.
Buratai, who made the assertion in an interview with newsmen in Abuja, recalled that President Buhari in his inaugural address on May 29, 2015, promised to subdue the terror groups.
The former COAS, however, warned that it is wrong to think that victory over Boko Haram terrorists meant a total cessation of hostilities. That, he said, would happen only when the terrorist groups agree to forsake their ideology, embrace democracy, respect the national constitution and sue for peace.
Buratai said the President had, right from his inauguration, clear-cut strategies to subdue the terrorists and restore peace to the North East and Nigeria in general.
He recalled the president in his inaugural address saying that the military command centre will be relocated to Maiduguri and remain until Boko Haram has been completely subdued.
“I say this with every sense of responsibility that the Buhari administration has subdued the Boko Haram insurgency and terrorism,” said Buratai.
According to him, the president came fully prepared with all the right information about the root causes of the insurgency and terrorism.
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Buratai said that the Boko Haram insurgency was allowed to manifest before 2015 by official bungling, negligence, complacency and collusion.
This, he added, made Boko Haram become a terrifying force, taking tens of thousands of lives and capturing several towns and villages, covering swathes of Nigerian sovereign territory.
“This is the true summary of the Boko Haram armed insurrection. The murder of Muhammad Yusuf by the police was clearly extrajudicial. Negligence, complacency and collusion with the proponents and strategic leaders of the Boko Haram insurgency for selfish reasons caused the insurgency to degenerate into a full-blown nightmare,” he added.
The Christian Association of Nigeria (CAN) Kaduna State Chapter, has expressed delight with President Muhammadu Buhari’s insistence that this year’s elections must be free, fair and devoid of vote buying.
CAN also observed that the 10-day extension of the deadline for the old currency to lose its legal tender status by Mr President is a step in the right direction.
Rev. John Joseph Hayab, Kaduna State CAN chairman, in a statement said, “The Christian Association of Nigeria (CAN) Kaduna State Chapter wishes to salute President Buhari for insisting that the 2023 elections must be free and devoid of vote buying. We also like to thank the President for the 10 days extension of the deadline for the old currency to lose its legal tender status.”
According to CAN, everything possible must be done by the Central Bank of Nigeria (CBN) to make the new notes circulate to end the stress being faced by the Nigerian masses in accessing the currency.
He explained that the citizenry is prepared to support the President on the matter of the deadline, especially if it would assist to ease the tension in the country, no matter what the temporary pains Nigerians may face.
He noted that bank managers should be investigated if found to be hoarding the new naira note to create artificial scarcity and help money-bag politicians to get the new notes
President Muhammadu Buhari said on Saturday he would continue to support the presidential aspiration of the All Progressives Congress (APC) flag bearer, Bola Ahmed Tinubu, ahead of this month’s elections.
The president, according to a statement issued by his Senior Special Assistant on Media and Publicity, Garba Shehu, stated this at the APC presidential campaign rally in Lafia, Nasarawa State.
There are insinuations that the president and other key members of APC have lost confidence in the former Lagos State governor over a number of allegations including certificate forgery, corruption, and drug-related matters hanging on his neck.
The president thanked the party supporters for defying the hot weather to stay in the sun for several hours to express their support for the party’s flag bearers in the elections.
Buhari said: “I congratulate all our party members and assure you that God willing we are going to win through and through.
“As Tinubu said in his speech, I have known him for more than 20 years ago, and I will continue to campaign for Bola Ahmed Tinubu. He is a committed Nigerian and I believe he will give his best to Nigeria.
The Chairman, Senate Committee on the Federal Capital Territory, Senator Smart Adeyemi, has appealed to President Muhammadu Buhari to reconsider his stance to address the current cash crunch within the next seven days.
The Senator who represents Kogi West Senatorial District in the National Assembly stated this Saturday while addressing reporters in Abuja.
When he met with the All Progressives Congress (APC) governors on Friday, Buhari pledged to address the issue of naira scarcity within seven days.
But Senator Adeyemi, who said the current situation had inflicted untold hardship, pleaded with the president to act immediately to avoid further crisis.
He urged Buhari to extend the deadline for the naira swap.
Adeyemi said, “Many of the artisans and small scale business people have their money at home. As I speak to you, I have a record of people who died because they had no money to buy drugs in the last few days, they died because of complications.
“As good as this policy is, we should not allow the poor masses to carry the pains for the atrocity committed by the elite. I want to tell the President that seven days is too long a time before the change.
“I am taking a look at happening across the country and already there are demonstrations, violent reactions.
“President Muhammadu Buhari is a statesman who fought for the unity of this country and a man who was doggedly committed to rule this country. I want to call on the President that 7 days is too long a period. The pains that Nigerians are experiencing is too much.
“Three days look like one year for people to bear. I am saying this because we were elected not appointed, so I have the responsibility to give the feedback of the pains of the people that elected us.
“Those elected are the direct contact to the people. In some instances people are paying N2500 to get N10, 000 of the old notes, not even the new notes. In this country, there are artisans who live by their daily earnings. They can go out what they get in the day is what they use to manage their homes.
“These people are dying silently and I want to support all the positions taken by Mallam Nasir El-Rufai and the President should listen. We that are speaking out are the friends, we are his children who love him so that this government should succeed and hand over on May 29th peacefully.
“We have contributed so much for the enthronement of democracy and some of us will not allow for democracy to be derailed in any way.
“This is a threat to peace and tranquility of the country and that is what is giving room for interpretation, and insinuations that some people around Buhari are behind this.”
![Buhari, Emefiele extends naira swap from February 10. [See new deadline]](https://newsworthy3news.files.wordpress.com/2023/02/screenshot_20230207-172244-01-1.jpeg?w=400&h=300&crop=1)
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