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Naira Crisis: Tinubu Campaign Brands Malami ‘Public Enemy’

By
Tosin Olatokunbo
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Bola Ahmed Tinubu

The Attorney General of the Federation, Abubakar Malami is among the enemies of Nigerians, Bayo Onanuga, the director of the Media, APC Presidential Campaign Council, has said.

Reacting to the suit filed by Malami on Wednesday objecting to the Supreme Court decision to put the February 10, deadline set for the demonetization of old naira notes by the Central Bank of Nigeria, CBN on hold, Onanuga in a tweet said “Abubakar Malami is also a public enemy like Emefiele.”

The decision of the Godwin Emefiele-led CBN to introduce the new naira notes has imposed untold hardship on Nigerians as the scarcity of old and new banknotes spread across the country.

Commercial bank in the country have responded to the crisis by closing many of their branches, amidst protest in some parts of the country to force the federal government to stop the policy.

Recall that Bola Ahmed Tinubu, the APC presidential candidate has accused Emefiele of trying to stop the election from holding.

Governor Ele Rufai of Kaduna state has also accused some fifth columnist in the Presidency of trying to truncate the forthcoming election.

In response,  El Rufai, Governors Bello Matawale of Zamfara, and Yahaya Bello of Kogi had on Tuesday filed a suit at the apex court asking it to stop the CBN from demonetizing the old naira notes by Friday this week on the grounds that the policy has inflicted pains  on Nigerians.

But, Malami in his preliminary objection asked the Supreme court to set aside the ruling on the basis that the issues raised by the governors were faulty.

He said, “The claims or reliefs are not against the federation, but the Federal Government and its Agency, the Central Bank of Nigeria.

“The Federal Government of Nigeria is distinct from the Federation or the Federal Republic of Nigeria. The Plaintiffs have no grievance whatsoever against the Federation of Nigeria.

“This suit has disclosed no dispute that invokes this (Supreme) Court’s original jurisdiction as constitutionally defined.”

The nation’s apex court ruled on a suit filed by three state governments, Kaduna, Kogi, and Zamfara challenging the CBN to end the legal tender status of the old naira notes of N200, N500, and N1000 by Friday this week.

The ruling has been followed by jubilation across the country, even though some have also described it as a pyrrhic victory for some elements in the ruling APC who insist that the policy was targeted at the party’s Presidential candidate Bola Tinubu who have praised the three governors who championed the suit as the saviors of the country at this difficult time.

Tinubu said after the ruling, “I want to salute the courage of our Governors and most especially the Progressives Governors in APC who acted to save our country from avoidable and dangerous political crises and social unrest which the Central Bank policy on new Naira notes has brought on our country.

“Our country was dangerously careering toward anarchy and political and economic shutdown. But with the Supreme Court interim ruling our country has been pulled back from the precipice. We thank our Supreme Court Justices for ruling wisely on the side of the people who have been subjected to undue agony and pains since this policy was announced.

“The Federal Government and relevant stakeholders can now sit down and work out better framework on how to proceed with the new policy without causing any social and economic disruption and inconvenience to our people. We have examples of other countries that have successfully and seamlessly changed their currencies to learn from.”

Meanwhile, not a few watching the ruling party insist that Tinubu’s men will not stop attacking those in Buhari’s government opposed to him wining the February 25 presidential election.

Ihedioha Congratulates  Ajaero, New NLC President

By
The Source
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Joe Ajaero

His Excellency, Rt. Hon.  Emeka Ihedioha CON, haa expressed  profound felicitations to Comrade Joe Ajaero, on his emergence as the President of the Nigeria Labour Congress,  NLC.

His Excellency, in a statement signed on his behalf by his Media Aide, Chbuike Onyeukwu, is particularly delighted that Comrade Ajaero made history by emerging unopposed at the 13th National Delegates’ Conference of the union in Abuja.

He decried the insecurity, poverty level and unbearable situation of the Nigerian workers across the country.

While expressing confidence that Comrade Ajaero, being a true democrat, defender of democracy, an astute labour leader with rich experience, will provide an independent and purposeful leadership that will alleviate the plight of workers and indeed restore the dignity of the Union, Hon. Ihedioha tasked the President to remain on the path of patriotism, especially at this time the nation is faced with several challenges ahead of the general elections.

He prayed God to grant the new NLC President and his team, His wisdom and grace to excel in this onerous task.

Comrade Ajaero, a native of Emekuku in Owerri North LGA of Imo State, until his  emergence as President on Wednesday, 8th February, 2023, was  the  Deputy National President of the Union.

Imo State Govt Empowers Uzodimma To Complete Ongoing Signature Projects

By
The Source
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Hope Uzodimma

Governor Hope Uzodinma has got the nod of the Government of Imo State to complete ongoing signature projects initiated by his administration, particularly the roads.

At the weekly Executive Council meeting held on Wednesday, February 8, 2023 the members gave approval to the Governor to utilize N22 billion, being money that the federal government owed the State from the 13 per cent derivation which she has agreed to pay, to urgently tackle the ongoing signature projects across the State.

Given that the money is to be paid in tranches by the federal government, the EXCO resolved that First Bank which has agreed to provide the Government with the said sum should be approached immediately so that nothing hinders the timely completion of the ongoing critical roads such as Owerri–Mbaise- Umuahia road, Orlu- Mgbee-Akokwa-Uga road and the Oguta-Okporo road.

Addressing reporters at the end of the Exco, the Commissioner for Information and Strategy,  Hon. Declan Emelumba said that the Ministry of Digital Economy and E-Government has also recorded some commendable feats with some of the newly trained graduates from the Skill-Up Imo Project already being recruited by employers in their good numbers.

Emelumba said  that “the money to be sourced from First Bank is not a loan, but discounted facility from the First Bank needed by the State Government to complete her outstanding signature projects mostly on road infrastructure which include Owerri/Mbaise/Umuahia road, Oguta/Okporo road and Orlu/ Mgbee/Akokwa/ Uga road.”

Emelumba said report made available to the Exco indicates that over 200 of the graduates have already been offered employment by some Hi-tech companies like Konga, among others. “This shows that the programme is receiving world attention and producing the right skills required by our youths.”

The Commissioner also informed that on February 14,  2023 the Government and people of Imo State will have the opportunity to host President Muhammadu Buhari again for the fourth time, as he visits with the Presidential Candidate of APC, Senator Ahmed Bola Tinubu and all APC leaders, for the South East mega rally of the Party holding in Owerri, the Imo State capital.

“This is a mark of the President’s love for Imo State as Imo is the only State of Southern Nigeria where he will be physically present for the APC Presidential Campaign Rally,” Emelumba noted.

Emelumba was flanked by the Commissioner for Humanitarian Affairs and Disaster Management, Hajia Rabbi Ibrahim, the Chief Political Adviser/Head Political Bureau, Barr. Enyinna Onuegbu and the Chief Press Secretary/Media Adviser to the Governor, Oguwike Nwachuku.

Furthermore, Council said that the Governor  set up an Inter-Ministerial Committee comprising Ministry of Humanitarian and Disaster Management, that of Public Orientation and Religious Affairs, Ministry of Women Affairs and Vulnerable Groups and the Chief Political Adviser/Head Political Bureau as members, to assist the Ministry Humanitarian Affairs in organizing the programme called ‘’Government Enterprises Empowerment Programme (GEEP), to help our people register and maximize benefits of the programme from the Federal Government.”

Also Council informed that Imo State Government is to benefit yet another $11.1 million from State Fiscal Transparency and Accountability and Sustainability Programmes  (SFTAS) for total compliance in the year 2022 budget.

The Commissioner emphasised that “Imo State since inception of the present administration has gotten over $40million from the World Bank on the SFTAS,” and that “it is the highest measure and indices of transparency and accountability there for the people to see.”

He then challenged any other State in the Southeast that has made such a mark to show up, noting that the administration of Governor Uzodimma that thrives on accountability and transparency discovered the process and has cued into it while past administrations never achieved such.

El-Rufai Mocks Buhari, Asks Nigerians To Ignore His Policy And Wait For Tinubu; AGF Malami Kicks

By
Adesina Soyooye
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By Adesina Soyooye

Fire-eating Governor of Kaduna State, Mallam Nasir El-Rufai, has asked Nigerians to ignore the February 10, 2023, deadline given by President Muhammadu Buhari for Naira Swap, and look up to the Presidential Candidate of the All Progressives Congress, Bola Tinubu.

He told them that Tinubu would reverse Buhari’s Naira Policy as soon as he is sworn in as President if he wins the  Presidential Election on February 25, 2023.

The Governor was reacting to the ruling on an exparte motion which stopped the Federal Government and the Governor of the Central Bank of Nigeria, CBN, from declaring the old Naira denominations of N1000, N500 and N200 notes illegal tenders after February 10, 2023.

The CBN had, three months ago, introduced  new Naira notes in those denominations and given a January 31 deadline for its legal tender.

However, outrage and anger greeted the deadline from most people including Tinubu and a number of APC Governors. Its scarcity as well as the scarcity, even of the old notes, traumatized most Nigerians who could not withdraw any cash to sustain themselves.

Fights broke out in Banking Halls and ATM and POS points. A number of cities erupted in violent protests.

President Buhari was forced to give a 10-day grace. But as it approached, with no solution in sight, three State Governors – El-Rufai, Kaduna, Yahaya Bello, Kogi and Bello Matawalle, Zamfara, approached the Supreme Court with an exparte motion. It was granted. The Apex Court gave a temporary relief that both the old and new notes should be used side by side as legal Tenders, and adjourned till February 15 for the hearing of the case.

Hailing the ruling, El-Rufai promised that Tinubu would reverse the Policy and asked Nigerians to ignore President Buhari’s deadline.

He said, while addressing a political audience in Kaduna, that: “Everyone, especially, people in Kaduna, should not be disturbed because of the Naira Swap policy deadline. Continue running your businesses and daily activities with whatever notes, old or new, that you have.

“And, we will make sure to address this problem as soon as we win the election. That will be the first issue to tackle if we win the election.

“Don’t rush yourselves into taking old Naira notes to the bank, and wasting your time in the unnecessary queues at the bank. Nobody can stop you from using the notes.

“When we come to power, Insha Allah, if Bola Tinubu becomes the President, we’ll give people more time to get rid of the old notes.”

Meanwhile, Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, has kicked against the Supreme Court  ruling and the case filed by the Governors.

In a suit, he has asked the SC to dismiss the case filed by the three State Governments of Kaduna,  Kogi and Zamfara against the Federal Government over the Naira swap deadline.

In a preliminary objection, the FG asked for the dismissal based, Malami said, on the grounds that the Apex Court has no jurisdiction to hear the case.

Citing section 251 of the Constitution, Malami argued that the Defence Lawyers’ position is under “the exclusive jurisdiction of the Federal High Court in matters of monetary policy of an agency of the Federal Government.”

On Wednesday, in Abuja, an amalgamation of Civil Society Organisations, CSO, marched to the CBN Headquarters in support of the CBN, and urged it not to back down on the 10th February deadline.

Meanwhile,  a legal opinion has dismissed the SC ruling as an exercise in futility.

He said: “The deadline won’t change. Neither the CBN nor the Commercial Banks was joined as parties to this suit. The three State Governors simply took advantage of the fact that in matters purely between the State and the Federal Government, the Supreme Court can serve as a Court of first and only instance.

“Joining CBN in the matter would automatically rob the Supreme Court of jurisdiction. Sadly, the Attorney General cannot issue a binding order on the CBN Governor.

“The CBN Act didn’t contemplate such, and an interim order is simply an academic exercise and grandstanding.”

In the meantime, the protests continue to spread to more cities with reports that some banks have, allegedly, been set on fire.

INEC Appeals Ruling Against Adeleke By Tribunal

By
Uche Mbah
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Ademola Adeleke

By Uche Mbah

The Independent National Electoral Commission (INEC) has approached the Court of Appeal praying for a reversal of the judgement of the Osun Governorship Election Petition Tribunal.

The tribunal, in a ruling, had nullified the declaration of Ademola Adeleke as the winner of the Governorship Election held on 16th July, 2022.

INEC had earlier refused to issue a Certificate of return to Oyetola. This was in disregard to the ruling of the Tribunal in the majority judgement read by Tertsea Kume,  its Chairman. The ruling ordered INEC to withdraw the certificate of return from Mr Adeleke and issue it to former governor Gboyega Oyetola, citing violation of electoral act as reason.

But in  its appeal dated 8th February, INEC said the judgement contained an “error in law”and, therefore, should be set aside in its entirety.

“The judgement of the lower Tribunal is against the weight of evidence,” INEC stated in the appeal. Therefore, they are seeking the Court to:

“Allow the Appeal;

“AN ORDER setting aside the whole decision of the trial Tribunal;

“An Order dismissing and/or striking out the Petition for want of competence and jurisdiction; and,

“An Order dismissing the Petition of the 1 and 2nd Respondents in d. this Appeal as lacking in merit with substantial cost.”

Uzodimma Congratulates New NLC President, Ajaero

By
The Source
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Hope Uzodimma and Joe Ajaero

Governor Hope Uzodimma of Imo State has congratulated the newly elected President of the Nigerian Labour Congress (NLC), Comrade Joe Ajaero, saying he has joined the many sons and daughters of  Imo who have made the State proud.

Comrade Ajaero, the Deputy National President of NLC since 2011, was returned unopposed Wednesday morning by his colleagues at the 13th National Delegates Conference of the Nigerian Labour Congress in Abuja.

He succeeds Comrade Ayuba Wabba whose tenure elapsed  same as day, February 8, 2023.

A statement by Oguwike Nwachuku, the Chief Press Secretary and Media Adviser to Governor Hope Uzodimma said his principal noted with pride that Ajaero’s emergence has once more shown that Imo State is made up of citizens that can be trusted with higher national and international assignments.

The Governor was particularly elated that Ajaero emerged unopposed, as a consensus candidate, an indication that his colleagues have invested so much trust in him.

In congratulating Ajaero, Governor Uzodimma said he has no iota of doubt that his leadership of the NLC will help to galvanize national progress and development, and that through partnership with government that lasts, Labour under his watch will render service to humanity and God.

The Governor who also congratulated the delegates for conducting a peaceful conference said Ajaero’s victory is a victory for Nigerian workers who believe so much in his capacity as their President to lead them to the promised land.

Ajaero, a former Secretary General of the National Union of Electricity Employees (NUEE) hails from Emekuku in Owerri North Local Government Area of Imo State.

Joe Ajaero Unanimously Elected NLC President, Succeeds Wabba

By
Ayodele Oni
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Joe Ajaero

By Ayodele Oni

Joe Ajaero has been named as the new president of the Nigeria Labour Congress, (NLC).

The National Executive Committee of the NLC took the decision on Wednesday after the expiration of the tenure of Ayuba Wabba.

Ajaero, who was Deputy President of the Congress emerged through a consensus as successor to former leader, Ayuba Wabba who ended his eight-year tenure, yesterday.

He was the sole candidate for the office of the Union’s President and had also served as General Secretary of the National Union of Electricity Employees (NUEE).

He served in the Presidential Committee on Power Sector Reforms, set up by the late ex-President Umaru Yar’Adua.

Wabba was first elected in 2015 and then re-elected in 2019.He stepped down officially from the NLC’s leadership during the 13th Quadrennial National Delegate held in Abuja.

Speaking during the commissioning of a guest house project named after Comrade Hassan Sunmonu, the pioneer President of NLC, Wabba said unionism was not only about contestations and agitations but also, resource management and investment.

Secretary to the Government of the Federation, Boss Mustapha, who was also at the event said President Muhammadu Buhari-led administration was committed to improving the minimum wage of workers to boost productivity.

Mustapha, who was the Special Guest of honour, said the Government was concerned about improving the welfare of public service.

He said the two-storey building was a delight for the NLC and its workers.

“These achievements and legacies are for the Nigerian people. I commend the outgoing NLC President, Ayuba Wabba for delivering the edifice that will yield additional income to the Congress,”

Ajaero is from Emekuku, Owerri North, Imo State.

NGF Charts Way Forward On Naira Swap, Writes President Buhari

By
Ayodele Oni
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By Ayodele Oni

Following continued hardship being encountered by people, the Nigeria Governors Forum, (NGF) has appealed to President Mohammadu Buhari to extend deadline for the naira swap.

The governors also demanded a review of the Central Bank of Nigeria’s (CBN) cashless policy.

The position of the governor is contained in a letter dated February 6, addressed to Buhari, and signed by Aminu Tambuwal, governor of Sokoto and chairman of the NGF.

In the letter, the NGF said while the policy is “intended to address the contradictions in our fiscal environment”, poor execution of it would “hurt the economy and have a disproportionate impact on the most vulnerable.”

The NGF explained that state-by-state analysis of the policy has shown that it would affect “several intra-state security arrangements which basically depend on cash transactions to ensure effective implementation.

“Even though the identified constraints are to be found in almost every state in the country, they are particularly evident in states like Borno in the North East and Bayelsa in the south-south where one finds a pitiable number of banks located only in the State capital which would basically render the workability of the new policies impossible for now.

“The speed of implementation of the policy is a recipe for anarchy in the country and we urge a re-think of the policy.

“Regarding the reviewed cash withdrawal limit, we have found from synthesizing experiences across the country that the informal sector in the States, particularly in the Northern and Niger Delta States almost wholly depends on cash transactions because of the nature of their trade.

“It is our view, Sir, that an immediate limitation in the use of cash without robust engagement with stakeholders as well as the provision of accessible alternatives will deny such people legitimate sources of livelihood.

“We fear that the cumulative effect of these unintended but very profound and probable consequences of these policies would be a rise in the number of unemployed and unengaged persons who will inevitably resort to crime to make ends meet.

“This has a dangerous implication for the security of the country and the potential to derail Mr President’s security agenda.”

The CBN had earlier fixed January 31 as the deadline for the old notes to serve as legal tender, but later extended it by 10 days, with February 10 as the new date.

The Supreme Court had earlier on Wednesday asked President Buhari  to allow the old notes remain legal tender along with the new notes.

The apex court ruled in a motion ex-parte, filed by three northern states Governors.

The governors further advised the President to extend the timeframe for the implementation of the policy and direct the apex bank to make the new notes available within an “enlarged” period.

The NGF noted the “remarkably unavailability” of the new naira notes, and the fact that some banks were rejecting the old notes even though they were still legal tender.

“These have resulted in riots and protests from Nigerians who are clearly frustrated by this policy.

“In light of the above, we most respectfully pray Mr President to approve an expanded time frame for the implementation of the policy and direct the CBN to make the new notes available within the enlarged time frame.

“Direct a thorough assessment of the prevailing economic conditions related to the implementation of the currency change and cash withdrawal limit policies.

“Direct that States be involved in future discussions regarding the policies in order to have revised policies that would recognize and consider States’ peculiarities.

“Consider and approve the putting in place of necessary infrastructure and facilities within a reasonable time frame to facilitate the implementation of the policy, including introducing incentives to encourage the use of digital payment solutions.

“This will help reduce the pressure on physical cash and promote financial inclusion, investing in infrastructure to expand access to financial services.

“Direct that a robust enlightenment campaign be mounted to create sufficient awareness in the citizens of the thrust of the policy.

“This will help people better understand the implications of the naira redesign and cash withdrawal limits and how to use digital payments platforms.”

Workers Boo Oshiomole, Stop Presentation Of Tinubu’s Address

By
Ayodele Oni
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By Ayodele Oni

One of the sidelines of the Delegates Conference of the Nigeria Labour Congress, in Abuja on Wednesday is the reception accorded former Governor of Edo State and chieftain of the All Progressives Congress (APC), Adams Oshiomhole.

Oshiomole, a former President of the NLC was booed as he stepped out to deliver an address on behalf of the APC presidential candidate, Bola Tinubu.

Even up to the time the microphone was handed over to him, guests at the occasion, mostly workers shouted at their former leader, telling him to speak as one of them.

At a point when he mentioned that he wanted to speak on behalf of Tinubu,  the uproar continued until he declared that “if you don’t want that, I will speak for myself as a former president of NLC.”

He had earlier earlier told the gathering that Tinubu had wanted to personally attend but had  another event in Ibadan, Oyo state.

Reprieve For Nigerians As Supreme Court Halt Move To Stop Circulation Of Old Naira Notes

By
Ayodele Oni
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0

By Ayodele Oni

Reprieve has come to Nigerians over the hardship being faced over change of old to new naira notes as Supreme Court  temporarily halted the move by the Federal Government to ban the use of the old naira notes from February 10, 2023.

In a ruling ex-parte application, a seven member panel led by Justice John Okoro, on Wednesday, halted the move by the federal government

This apex court gave the ruling in an exparte application brought by three northern states of Kaduna, Kogi and Zamfara.

The three states filed the application through their Counsels on Tuesday.

They had specifically applied for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction.”

Moving the application on Wednesday, counsel to the applicants, Mr A. I. Mustapha, SAN, had urged the apex court to grant the application in the interest of justice and the well-being of Nigeria.

He stated that the policy of the government has led to an “excruciating situation that is almost leading to anarchy in the land.”

While he referred to a Central Bank of Nigeria’s (CBN) statistics which put the number of people who don’t have bank accounts at over 60 percent, Mustapha lamented that the few Nigerians with bank accounts can’t even access their monies from the bank as a result of the policy.

The senior lawyer further argued that unless the Supreme Court intervenes, the situation will lead to anarchy because most banks are already closing operations.

Delivering ruling in the motion, Justice Okoro, held that after a careful consideration of the motion exparte this application is granted as prayed.

“An order of Interim Injunction restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction.”

He accordingly adjourned to February 15, 2023 for hearing of the main suit.

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