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CBN Raises Alarm Over Fake Naira Notes In Circulation, Warn Nigerians To Be Vigilant

By
Akinwale Kasali
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By Akinwale Kasali

The Central Bank of Nigeria, CBN, has warned Nigerians and alerted Banks to be wary of fake Naira notes currently in circulation.

The CBN raised alarm that the counterfeit notes are now in circulation and are already being spent, most especially in markets. It warned market men and women to be vigilant.

According to the Apex Bank, it is an offense punishable by imprisonment for any person to falsify, make, or counterfeit any bank note or coin issued by the CBN.

CBN disclosed this in a statement signed by its Acting Director, Corporate Communications,  Sidi Ali, Hakama.

The CBN stressed that, “The attention of the CBN has been drawn to the circulation of counterfeit banknotes, especially higher denominations, by some individuals for transactions in food markets and other commercial centres across major cities in the country.

“For the avoidance of doubt, Section 20(4) of the CBN Act (2007), as amended, states that it shall be an offense punishable by a term of imprisonment of not less than 5 years for any person to falsify, make, or counterfeit any bank note or coin issued by the Bank which is legal tender in Nigeria.

“The CBN is in constant collaboration with relevant security and financial agencies to confiscate fake Naira banknotes, arrest and prosecute counterfeiters.

“Members of the public are also encouraged to report anyone suspected of having counterfeit naira notes to the nearest police station, branch of the CBN or via [email protected].

“Meanwhile, all Deposit Money Banks, Financial Houses and Bureau de Change and the general public are enjoined to be more vigilant and take all necessary precautionary measures to curtail the acceptance and distribution of counterfeit notes.

“Furthermore, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions to mitigate the risk of spreading counterfeit banknotes.”

Police Exonerates Former NDDC Boss, Nsima Ekere, Others Of Stealing, Forgery

By
Akinwale Kasali
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By Akinwale Kasali

After years of investigation and interrogation, the Police has finally found a,former Deputy Governor of Akwa Ibom State and one-time Managing Director of the Niger Delta Development Commission, Nsima Ekere, innocent of alleged conspiracy, diversion, and stealing of the sum of N118 million leveled against him.

Nsima was exonerated by the Nigeria Police alongside others that include; Messrs Techsel Products Limited, Mr. Idorenyin Udo Ekere, Dr. Aniekan Udo Ekere and Utibe Idorenyin Ekere.

The affected persons were, between 2011 and 2014, accused by one Abasiama Idong of defrauding Akwa Savings & Loans Limited to the tune of  N118m.

The case, which was widely reported in the media in 2017, was also dragged before anti graft agency, the Economic and Financial Crime Commission, EFCC.

The Certified True Copy, CTC, of the police investigation report signed by an Assistant Commissioner of Police from the Force Criminal Investigation Department, Ibrahim Abdul in Uyo on Friday, saw the police stating that in the course of their investigation, it was gathered that the alleged missing of N118m  against Mr. Nsima Ekere was actually a request made by Lossela Nigeria Ltd out of its deposit of two million, five hundred thousand US Dollars in Akwa Savings & loans Limited, which was approved by the then Managing Director, Mr. Effiong Akwa Okon with full knowledge that Lossela Ltd had more than enough to accommodate the transaction.

The police report further stated, “That Mr. Nsima Ekere did not authorize any payment nor close any Akwa Ibom State Government account with Akwa Saving and Loans Ltd as he had no role to play in the bank.

“That Lossela Nigeria Limited has a business relationship with Techsel Products Ltd.

“That Lossela Nigeria Limited deposited $2,500,000 US Dollars with Akwa Savings and Loans Limited. That the money was transferred through Sterling Bank where Lossela maintained a domiciliary account.

“That Lossela Nigeria Limited sometimes in 2013 requested for the payment of one hundred million naira (N100,000,000) only from their US Dollars deposit with Akwa Savings and Loans Limited. That the money was credited into Techsel Products Ltd account with Akwa Savings and Loan Ltd based on a written instruction from Lossela Nigeria Ltd.

“That there was no visible illegal transaction between the suspects, “Techsel Products Nigeria Ltd” and Lossela Nigeria Ltd” as alleged.

“That the petition is a calculated attempt to smear and ridicule the political ambition of Mr. Nsima Ekere, who is also a former MD of NDDC.”

The police further noted that based on the facts gathered in their findings, a prima facie case of conspiracy, forgery, and stealing cannot be established against Mr. Nsima Ekere, MessrsTechsel Products Limited, Mr. Idorenyin Udo Ekere, and Dr. Aniekan Udo Ekere as alleged.

CBN Says Fake Naira Notes In Circulation, Warns Counterfeiters

By
James Orji
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The Central Bank of Nigeria, CBN, says it has been inundated with the activities of naira counterfeiters. Nigerians should beware of unscrupulous persons circulating fake naira banknotes, the apex bank said.
The warning comes amidst the naira shortages across the country.
The Source magazine had reported that commercial bank’s and money agents also known as POS operators complained of naira scarcity.
The counterfeiters must have capitalised on the situation, analysts said.
But in a statement on Friday, titled ‘Beware of Counterfeit Naira Banknotes in Circulation,’ the apex bank warned commercial banks, Bureau de Change, and other financial institutions to be on guard in other not to spread counterfeit notes.
Security agents are now in pursuit of counterfeiters, the Yemi- Cardoso-led CBN said.
According to the statement  “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, significantly higher denominations, by some individuals for transactions in food markets and other commercial centers across major cities in the country.
“For the avoidance of doubt, Section 20(4) of the CBN Act (2007) as amended, states that: “It shall be an offense punishable by a term of imprisonment of not less than five years for any person to falsify, make or counterfeit any bank note or coin issued by the Bank which is legal tender in Nigeria.”
“The CBN is constantly collaborating with relevant security and financial agencies to confiscate fake Naira banknotes and arrest and prosecute counterfeiters. Members of the public are also encouraged to report anyone suspected of having counterfeit naira notes to the nearest police station or branch of the Central Bank of Nigeria.
“Meanwhile, all Deposit Money Banks, Financial Houses and Bureau de Change and the general public are enjoined to be more vigilant and take all necessary precautionary measures to curtail the acceptance and distribution of counterfeit notes.”
Meanwhile, those watching the naira shortages insist that the problem is likely to snowball into the new year.

Japa Syndrome, Deaths Occasioned By Stress Taking Toll On UNIJOS Staff – VC

By
Ayodele Oni
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By Ayodele Oni

The Vice Chancellor of University of Jos, (INIJOS) Prof Tanko Ishaya,  has disclosed that 20 Lecturers with the University have died due to what the institution’s management described as ‘severe stress’ borne out of acute shortage of manpower.

The Vice Chancellor who spoke while briefing Journalists in Jos on the activities marking his two years in office, also lamented the lack of budgetary allocation for recruitment of needed personnel.

According to him, “For well over five years now, we have not been able to carry out recruitment exercises to fill vacant positions. We have lost many of our members of staff through retirements, Japa syndrome and deaths. Some of these positions require that we recruit to avoid any gaps.”

The Vice Chancellor stated that the absence of a Governing Council for the University is affecting its smooth running.

He disclosed that the University budgets N13 million monthly, but spends close to N100 million with electricity gulping close to N30 million in a month.

The Vice Chancellor commended President Bola Tinubu for reversing the policy mandating tertiary institutions to remit 40 per cent of their Internally Generated Revenue (IGR) to the Federal Government.

Ishaya, said the reversal of the policy was timely, maintaining that it would enable tertiary institutions have funds to cater for their immediate needs.

The Vice Chancellor, however, advised the Federal Government to grant full autonomy to public Universities, insisting that autonomy of Universities is not just about finances but their general administration.

“The autonomy of Universities is not just about finances, but majorly about governance of the Universities; autonomy is opposed to centralization of the control of Universities.

“It confers on each university the right to select or admit its own students, decide what to teach and determine areas of research.

“So, we call on the federal government to grant universities autonomy to enable them function optimally.”

Ondo: Federal High Court Gives Stringent Bail Conditions To Examination Malpractices Suspects

By
Ayodele Oni
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Law and Court

By Ayodele Oni

Three suspects arraigned at the Federal High Court for alleged examination malpractices wit, impersonation, are to remain in custody due to their inability to meet bail conditions.

The suspects, Peter Okereke and two others were arraigned by the Attorney General of the Federation for engaging in examination malpractices at a computer based centre in Akure, Ondo State Capital.

When the matter came up for hearing, the Prosecuting Counsel, M. I. Osimen, called one witness, Oyegun Gabriel, the Technical Officer, that detected the malpractice.

Oyegun told the Court how the defendants were arrested at the Aina Awwal CBT Centre, Akure, for impersonation.

Furthermore, he also informed the Court that the defendants gave a written statement at the office of the Nigeria Security and Civil Defence Corps(NSCDC), Akure Command.

Additionally, he said the documents tendered were in line with the Evidence Act, and were admitted and marked exhibits A,B, and C respectively.

Before the Court adjourned the case till February, 2024, it admitted to bail the three defendants. The Prosecuting Counsel did not object.

Justice T.O Adegoke, however, ruled that for each of the defendants, one surety each in the sum of one million naira bond each must be provided and the Sureties must have a company registered with the Corporate Affairs Commission(CAC) and engage in business within the Akure metropolis.

Aside this, the sureties, the Judge also ruled, must show evidence of tax clearance for the past three years and must deposit the original copies of their company registration certificates with the Registrar of the Court, while the sum of one million naira by each of the  defendants sureties must be deposited in the account to be provided by the Court Registrar.

The Sureties and each of the defendants must also write an undertaking that the defendants would attend their trial till the conclusion of the case and that the Prosecuting Counsel and the Court Registrar must know the residence of the Sureties.

WHO Laments Abuse Of Antibiotics By Users, Estimate 10 Million Death By 2050 As A Result Of Abuse

By
Akinwale Kasali
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0

By Akinwale Kasali

The World Health Organization, WHO, has lamented the abuse of the usage of Antibiotics  stressing that antimicrobial resistance may lead to 10 million deaths by 2050 if urgent actions are not taken to reduce its burden.

The WHO expressed this concern on Friday in Lafia, Nasarawa State, through Dr Laxmikant Chavan, Technical Officer of AMR, WHO Nigeria Office, at the Seventh Annual Conference of the Association of Nigeria Health Journalists in collaboration with the World Health Organisation.

Emphasizing on the threat the abuse poses, the WHO said the increasing use of antimicrobial medicines is dangerous, explaining that the total global antibiotic consumption in humans, animals, and agriculture increased by 30 per cent between 2000 and 2010.

It, however, declared that AMR is one of the top 10 global public health threats facing humanity.

AMR is the ability of a microorganism (like bacteria, viruses, fungi, and parasites) to change over time and no longer respond to medicines, making infections harder to treat, thus increasing the risk of disease spread, severe illness, and death.

Chavan said AMR leads to increased cost to deliver health care, especially in the cost of newer expensive antibiotics and other drugs, cost of additional investigations, and extra length of stay at the hospital, among others.

“The cost of AMR to national economies and development is significant. Under a worst-case scenario, AMR could cause a reduction in Gross Domestic Product equal to that of the 2008 financial crisis.

“ However, the economic impacts would be worse in lower-income countries and would likely last longer.

“AMR is putting the gains of Millennium Development Goals at risk and endangers the achievement of the Sustainable Development Goals,” he said.

The expert expressed worry over the increasing use of antimicrobial medicines.

He said the total global antibiotic consumption in humans, animals, and agriculture increased by 30 per cent between 2000 and 2010, from 50 billion standard units to 70 billion standard units.

He noted that the misuse and overuse of antimicrobials, lack of clean water, sanitation and hygiene, poor infection and disease prevention and control, poor access to quality, affordable medicines, vaccines, and diagnostics, lack of awareness and lack of enforcement of legislation are driving AMR globally, including Nigeria.

“In 2010, at least 63,200 tons of antibiotics were consumed by livestock, partly driven by growing country GDPs and an increased demand for animal food products,” he disclosed.

Chavan urged the media to play a crucial role in shaping public perception and creating awareness for responsible reporting on AMR issues.

“Blame Deputy Governor Aiyedatiwa’s Ambition For Crisis” – Ondo State  Government

By
Ayodele Oni
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0

By Ayodele Oni

Despite the truce brokered by President Bola Tinubu among warring parties in Ondo State Government political crisis, blames and counter blames still reign between the loyalists of Governor Rotimi Akeredolu and those of his Deputy, Lucky Aiyedatiwa.

The Ondo State Government on Friday blamed the crisis on the Governorship ambition of Deputy Governor Lucky Aiyedatiwa, which has generated tension and crises in the State.

Commissioner for information, Bamidele Ademola-Olateju claimed that following Governor Rotimi Akeredolu’s ill health, Aiyedatiwa was desperate to take over from him.

Ademola-Olateju, who made the statement during an appearance on Arise News’ The Morning Show on Friday, dismissed claims of the Governor’s incapacitation to perform official duties.

According to her, Akeredolu remains fully functional despite his absence from public appearances and the State Government House.

While acknowledging the Governor’s recovery from a “very bad” somatic ailment, Ademola-Olateju downplayed concerns, attributing them to political noise.

“This (noise) is needless, totally needless. This is just about ambition. Too much is going on in Ondo State, but the political noise has drowned everything because it is just based on ambition and this is unfortunate. Governance is not a circus, governance is not a joke.”

The Commissioner criticized Aiyedatiwa’s handling of the situation, stating, “He has gone about it in a very bad way. He has polarized the State Executive Council, he has divided the State.”

Expressing disappointment over Aiyedatiwa’s actions following a peace agreement brokered by President Bola Tinubu, Ademola-Olateju said, “I expected that he will come back and rally the troops, so that we face the issue of governance in Ondo State.” He did not fo that, apparently, based on the Commissioner’s submission.

“It’s Bad Omen” – Obi Decries Exit Of Investors From Nigeria

By
The Source
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0
Peter Obi

The Presidential Candidate of the Labour Party in the 2023 General Elections, Peter Obi, has decried the exit of credible international firms from Nigeria as a bad omen and not good for the country.

Obi said in his X handle that the departure of three global firms in the health and energy sectors says a lot about the state of affairs in our country.

“A few months ago, I lamented about the exit of the international Pharmaceutical giant, GlaxoSmithKline (GSK) from Nigeria. GSK remains a top global pharmaceutical manufacturer and has had 51 years of operations in Nigeria, the reason for their exit being that there was no longer any perceived growth in Nigeria anchored on productivity.

“Today, Procter & Gamble (P&G), the world’s largest personnel care and household products company, makers of iconic brands like Pampers, Gillette, etc, is again leaving Nigeria, for the same reason GSK left.

Following this also are FMCG and top Energy firm,  Norwegian behemoth Equinor which has sold off its Nigerian business. Developments associated

“Fifteen years ago, P&G, as they are commonly called, viewed Nigeria as a strategic country of importance and invested millions of dollars in an ultra-modern chain supply structure in Agbara which, sadly, is now up for sale.

The LP standard bearer noted that “The presence of these iconic companies in any economy is not only that they signify trust and confidence, as well as believe in medium to long-term socio-economic prospects of such countries, but they massively create jobs, invest in Research and Development, as well as pieces of training which smaller players in the industry learn from and adapt.

According to him, they help, to a great extent, to develop local talents for both local and global jobs.

“The exit of these top global companies basically shows that our medium to long-term prospects strategy is in the negative, our investment profile is not attractive and our business environment is deteriorating continually. The declining purchasing power of Nigerians is nose-diving every day.

“In the face of the absence of the rule of law, and a conducive business environment, it will be difficult to retain such iconic companies and talk more about attracting new ones.

He finally charged “Governments at all levels in Nigeria must therefore take immediate steps to ensure that institutions of governance are put in place and actively engaging to show that the situation is reversed.

Sanusi Slams NNPC: Where’s The Dollar? Knocks Tinubu As ‘Petroleum Minister’

By
James Orji
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0

President Bola Ahmed Tinubu should not be Nigeria’s Petroleum Minister, a former Emir of Kano state, Sanusi Lamido Sanusi has said.

The president had only appointed Heineken Lokpobiri Minister of State for the ministry amidst speculation that he had appointed himself Minister of Petroleum.

The former emir who called for the probe of the Nigeria National Petroleum Company Limited, NNPCL commented on Thursday in Abuja while delivering his remarks at the Bank Directors Summit organised by the Bank Directors Association of Nigeria.

He described the Mele Kyari-led oil company as the most ‘opaque’ company in the world, saying its account must be audited due to its failure to remit necessary funds into the coffers of the federal government.

According to him, the country will not be experiencing Dollar scarcity if the NNPC has remitted adequate revenue from oil sales to the federal government.

NNPC must be made accountable, he said.

Sanusi: “Why is the NNPCL not able to bring in dollars? Am sorry this is the question that cost me my job and I will continue asking this question until NNPCL fixes it up or until I die. Where are the dollars? We need to shine a light on the NNPCL. The finance minister cannot tell you because he doesn’t have a monitoring system that reports to him. The finance minister can’t tell you how many barrels of petrol we produce and export. It is only the NNPCL that can give those figures. The finance ministry needs to know how much oil we produce daily, how much we sell, and where the money is going.

“We are no longer paying subsidies so where are the dollars? It was under recovery during the subsidy era and that has been stopped, so where is the money? This was the issue I raised for which I was suspended, well you can suspend me again. The NNPCL is the most opaque oil company in the world. When I was in the central bank for 15 years, they had not been audited. We have to follow the money from production to export to return, where is the money going? We paid N11tn in subsidy and there is no accountability up till now. The National Assembly called the NNPCL to bring the documents, but they refused.

He added, “By the way, let me advise that the idea of the President becoming a petroleum minister is not a good idea. The last president was the minister of petroleum for eight years.   When I was governor of the central bank we had a minister of petroleum so when I talk about the NNPCL, I could attack Diezani Madueke. Now, nobody can talk about petroleum because for eight years if you talk, you are attacking the president. We need that buffer, somebody has to be there, so a minister has to be there who is held accountable by Nigerians.”

President Tinubu predecessor, Muhammadu Buhari made himself Minister of Petroleum during his eight years in office amidst criticism from not a few Nigerians who described the action inappropriate.

NIMASA DG Calls For Contributory Pension Fund For Dockworkers

By
James Orji
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0
NIMASA Dock Workers

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Bashir Jamoh has called for the establishment of a contributory pensions fund for dockworkers in the country.

The NIMASA boss made the call during the milestone maiden edition it hosted for Dockworker’ in Lagos recently.

With the theme of the event being “Healthy Dockworker, Better Productivity”, the event was an opportunity for stakeholders to appreciate the efforts of Nigerian dockworkers at the center of the nation’s import-dependent economy, and focus on ways of improving their health and general well – being.

Delivering his welcome address at the event, Jamoh, charged employers of labor to ensure all dockworkers are enrolled on contributory pension schemes, while also emphasizing the need for operators of Oil and Gas Terminals to allow only approved stevedores aboard their installations, to ensure compliance with relevant international guidelines and conventions.

According to him, “As we celebrate today, it is important to put in perspective the plight of dockworkers who spend the greater part of their working life at the ports, with little or nothing to show for it. As employers of labour, you must endeavour to put in place a Contributory Pension Scheme for dockworkers and ensure prompt remittances of both Employers and Employees contributions at the end of each month”.

Speaking on compliance with stevedore inspections, he stated, “This occasion presents me with an opportunity to express the need for operators in the private jetties and Oil & Gas Terminals to grant operational access to the Stevedoring Contractors appointed by the Honorable Minister of Transport, to carry out stevedoring activities in assigned operational areas”.

On his part, the President General of the Maritime Workers Union of Nigeria, MWUN, Comrade Adewale Adeyanju, in his address, he thanked the NIMASA Management for organizing the event to celebrate Nigerian dockworkers in recognition of the important role played by them.

In attendance at the event were representatives from the Federal Ministry of Labour and Productivity; Nigerian Ports Authority; Seaport Terminal Operators Association and the National Association of Stevedoring Operators (NASA).

Internationally, July 7th is marked as ‘The Global Day of Action’ and is organized by the International Dockworkers’ Council, IDC, and International Transport Workers’ Federation, ITF. It aims to raise awareness of port working conditions and emphasize the importance of collective bargaining rights

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