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Naira Redesign: Senate Backs CBN, Promises Legislative Support

By
Ayodele Oni
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By Ayodele Oni

There was a botched attempt by the Senate to extend the deadline for the redesign of the Nigerian currency, the Naira, by the Central Bank, (CBN)

Some lawmakers had called for the extension for the use of the present currency till April, 2023, to enable Nigerians make adequate preparations to receive the redesigned notes.

While the lawmakers supported the move to redesign the naira, they however said the deadline of January 31st, 2023 to pay all cash in circulation into banks was too short.

During a debate on a motion sponsored Senator Uba Sani (APC, Kaduna), some lawmakers, including Senator Orji Uzor Kalu, had called for the extension of the deadline to April 30, 2023, saying the deadline was too short.

But Senator Gabriel Suswan (PDP, Benue) disagreed with Kalu and others, saying the CBN Governor does not honour Senate invitations.

He urged his colleagues to ignore the CBN policy and let the country damn the consequences.

Senator Bassey Akpan stressed the need to support the CBN Governor. He said there should be no discussion on the matter.

Suswan and Akpan’s submissions did not go down well with the lawmakers seeking the extension of the deadline, causing the Red Chamber to degenerate into a rowdy.

It took the persistent appeals by Deputy Senate President, Ovie Omo-Agege, who presided over the plenary, to restore normalcy.

Following a motion on the policy by the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Sani Uba, the red chamber agreed to give backing to the CBN on the new policy.

They called for aggressive enlightenment on the part of the CBN, especially in the rural areas to ensure that all Nigerians are made aware of the new policy.

The senators insisted that such mass awareness would help Nigerians in the rural areas to comply with the policy so as not to lose their hard earned income.

They also urged the CBN to put measures in place in the face of ubiquitous Financial Technology (FinTech) to ensure that the local populace are able to bank their cash with ease within the stipulated time.

They said such a measure would also ensure the security of the local population who might be waylaid and dispossessed of their cash by criminal elements like bandits and insurgents.

The Senate, after the debate, also resolved to provide legislative support for the CBN on the policy.

Fear Of Invasion: Police Take Over Ekiti Assembly Complex

By
Ayodele Oni
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Ekiti State House of Assembly

By Ayodele Oni

Twenty four hours after the emergence of a new Speaker for the Ekiti state House of Assembly, legislative and administrative duties have been put on hold following closure of the assembly complex.

The assembly complex, inside the new secretariat in Ado Ekiti was occupied on Wednesday by armed policemen.

A law maker representing Ikole, Gboyega Aribisogan was on Tuesday elected as a successor to late Funminiyi Afuye, who died last month.

He had defeated another lawmaker, Mrs Olubunmi Adelugba from Emure Ekiti who scored 20 votes as against 15 garnered by her opponent.

There were insinuations that the defeated lawmaker had the firm backing of the immediate former Governor Kayode Fayemi, while the new Speaker, received favour from Governor Biodun Oyebanji.

It was gathered that administrative staff that resumed for duties on Wednesday were asked to vacate the assembly premises for security reason.

This caused tension as the Police claimed that they uncovered alleged plot by some hoodlums to  attack the complex.

There were insinuation that the change of leadership did not go down well with the certain powers as the preferred candidate for the position of Speaker failed.

However, the newly elected Speaker of the Assembly, Gboyega Aribisogan who insisted that there was no crisis in the assembly.

According to him, “the leadership of the police command in Ekiti informed us this morning that it has verifiable intelligence about some hoodlums coming to attack the assembly complex and to avoid breakdown of law and order, hence the need for their presence and they have have promised us to conduct investigation on the matter and report to us before the close of work today

“I want to encourage my colleagues and staff of the assembly to be patient and bear with us, normalcy will soon return to the house.”

African Regional Group Laments Too Many Security Checkpoints At Nigerian Borders

By
Ayodele Oni
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Idrissa Kone

By Ayodele Oni

The Secretary-General, Abidjan- Lagos Corridor Organization, (ALCO), Mr Idrissa Kone has observed that too many security checkpoints in Nigerian borders is hampering activities of the organization.

Mr Kone observed that this is hampering movement of people, goods and services.

ALCO is an initiative of five coastal African countries of Cote d’Ivoire, Ghana, Togo, Benin Republic and Nigeria established in 2002.

Part of its objectives include prevention, treatment, care and support on HIV/AIDS, as well as facilitation of trade and transport relations in line with the protocols of the Economic Community of West African States (ECOWAS).

Speaking during a visit to the Minister of state for transportation, Ademola Adegoroye in Abuja, the coordinator urged the Nigerian government to work towards reducing the number of checkpoints and harassment of people by security agencies along the Nigerian border roads.

He disclosed that the organization has recorded a lot of achievements along the corridor in the last 20 years of its existence, especially in the promotion of regional integration among the five member states.

In his response, the Minister of state assured that the federal government will continue to play a crucial role in the sustenance of the activities of ALCO in facilitating free movement of goods and people among member countries.

In a statement, the media aide to the Minister, Ebenezer Adeniyan stated that Adegoroye, saluted the vision of the founding fathers of the organization, stressing that its advantages cannot be over-emphasized.

Adegoroye, who lauded the efforts of President Muhammadu Buhari in promoting regional integration in Africa, said Nigeria must do everything possible to sustain and improve on the initiative.

The Minister then promised that the federal government will fulfill its outstanding commitments to the organization, urging ALCO to also explore other sources of funding for its activities, especially regular collection of data.

Breaking: CBN: NASS Demands Extension Of Deadline To Withdraw Banknotes

By
Tosin Olatokunbo
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The Nigerian Senate has called on the Central Bank of Nigeria, CBN to extend the deadline set for the withdrawal of old naira notes.

The upper chamber of Nigeria’s National Assembly also on Wednesday threw its weight behind the CBN decision to redesign the national currency.

The CBN has set January 3, 2023, as the final date for the return of the N200, N500, and N1000 banknotes to its coffers as part of the apex bank’s decision to redesign the three notes.

CBN Governor Godwin Emefiele warned three weeks ago that the banknotes would no longer be accepted as legal tenders after the deadline set by the bank: “On the basis of these trends, problems, and facts, and in line with Sections 19, Subsections a and b of the CBN Act 2007, the Management of the CBN sought and obtained the approval of President Muhammadu Buhari to redesign, produce, and circulate new series of banknotes at N200, N500, and N1,000 levels.

“In line with this approval, we have finalized arrangements for the new currency to begin circulation from December 15, 2022. The new and existing currencies shall remain legal tender and circulate together until January 31, 2023 when the existing currencies shall seize to be legal tender.

“Accordingly, all Deposit Money Banks currently holding the existing denominations of the currency may begin returning these notes back to the CBN effective immediately. The newly designed currency will be released to the banks in the order of First-come-First-serve basis,” he said.

Nigerians are however divided on the date set by the apex bank to totally withdraw the banknotes. While some have called for an extension, others insist that the January 31, 2023 date must remain sacrosanct.

The intervention of the Senate that the deadline is reviewed will therefore be a welcome development to those calling for an extension, close watchers of the CBN said.

The decision of the Senate on the issue followed a motion on the policy by the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Sani Uba.

The lawmakers said the deadline of January 31st, 2023 to pay all cash in circulation into banks was too short, calling for aggressive enlightenment on the part of the CBN, especially in the rural areas to ensure that all Nigerians are educated of the new policy.

They insisted that such mass awareness would help Nigerians in rural areas to comply with the policy so as not to lose their hard-earned income.

They also urged the CBN to put measures in place in the face of ubiquitous Financial Technology (FinTech) to ensure that the local populace is able to bank their cash with ease within the stipulated time.

Such a measure, according to them would also ensure the security of the local population who might be waylaid and dispossessed of their cash by criminal elements like bandits and insurgents.

Tinubu’s Chicago Certificate Belongs To A Woman-Lawyer Sues

By
James Orji
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0

Mike Enahoro-Ebah has asked an Abuja magistrate court to sanction the presidential candidate of the ruling All Progressives Congress, APC, for allegedly lying on oath about his academic certificates.

The APC presidential hopeful, according to the lawyer claimed in the forms he submitted to the Independent National Electoral Commission, INEC that he attended the Chicago State University.

Tinubu, he said also claimed in the personal particulars (Form EC-9) submitted to the Independent National Electoral Commission (INEC) on June 17, 2022, that he attended Government College, Ibadan.

These claims the lawyer said are false according to a direct criminal complaint he filed with the court sitting at Wuse Zone 6, Abuja.

In the matters dated November 9, 2022 and filed on November 10, 2022 by the lawyer, he alleged that Tinubu lied on oath having falsely sworn to an affidavit in support of his personal particulars (Form EC-9) submitted to the Independent National Electoral Commission (INEC) on June 17, 2022.

He also alleged that Tinubu presented a forged Chicago State University Certificate to INEC with the intent that it may be acted upon as genuine, thereby committing the offence of forgery contrary to Sections 362(a), 363 and 364 of the Penal Code Act, Cap. 532, Laws of the Federal Capital Territory, Abuja.”

The lawyer said he applied, through his colleague, Mathew Kowals, a Chicago-based legal practitioner, who issued an attorney subpoena on his behalf against the university in case number: 22-L-007289 on August 12, directing the school to mail him (Kowals) all documents and records pertaining to Tinubu in their possession.

The lawyer said copies of Chicago State University Certificate, academic records, undergraduate admission application form, University of Cambridge General Certificate of Education, and copy of Southwest College Transcript (now City College of Chicago) were later sent to him which he attached to the court documents as exhibits.

He alleged that the copy of the Chicago State University Certificate released by the school “is radically different” from the copy attached to Tinubu’s sworn Form EC-9 submitted to INEC on June 17.

According to him, a direct comparison of both certificates reveals different dates of an issue by the university (June 22, 1979, and June 27, 1979); different university logos on both certificates; different grammatical construction on faces of the certificates, different signatures, among others.

He said, in support of the defendant’s undergraduate admission application form submitted to Chicago State University in 1977, was a transcript from Southwest College, Chicago, bearing the name, “Tinubu Bola A” which belongs to a female student, contrary to Form EC-9 submitted to INEC which indicated that Tinubu is a man.

The lawyer further alleged that Tinubu that attended the university indicated in his undergraduate admission application form that he graduated from Government College, Lagos in 1970, while the defendant in his Form EC-9 submitted to INEC provided no information as to his attendance of the said Government College, Lagos, among other allegations.

He said it is in the best interest of Nigeria, justice and equity to issue criminal summons to ensure Tinubu’s attendance in court to answer to the complaints.

The case, which is before Chief Magistrate Emmanuel Iyanna, is yet to be scheduled for a hearing.

Meanwhile, Tinubu says he has no case to answer on the allegation that he was involved in narcotics distribution while living in the United States in the 1990s.

In an advert now airing on some national televisions, the former governor said a US court had since dismissed the allegation, to the extent that it can not be revisited.

Channels

Petrol Subsidy Going, FG Insists

By
Tosin Olatokunbo
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Zainab Shamsuna Ahmed,minister of finance

The phased removal of petrol subsidy will commence next June, the Minister of Finance, Zainab Ahmed has said.

There are fears among Nigerians that the removal of subsidy on petrol will shoot up the price beyond the reach of many consumers of the product.

The managing director and chief executive of the Nigerian Petroleum Company, NNPC Limited Mele Kyari told the National Assembly last week that petrol will be sold for at least N400 per litre after the removal of subsidy.

Even though the federal government has already made a provision of over N3 trillion in the 2023 Budget for subsidy, Ahmed said there’s no going back on government’s decision to phase subsidy out.

Speaking at a media briefing at the close of the 28th Nigerian Economic Summit, NES#28, themed, “2023 and Beyond: Priorities for Shared Prosperity,” Ahmed described fuel subsidy as a double jeopardy for the Nigerian economy, which must be removed.

The minister said subsidy is no longer sustainable, but promised to continue to engage stakeholders on the benefits of government decision to phase it out.

“First, we have to engage. We have already engaged with the states and the public before it was approved as part of the medium-term plan,” Ahmed said.

She explained that subsidy is eating up into government’s funds, noting that it must be dealt with as soon as possible in order to free up resources for government to spend on critical areas of the economy.

Zainab said, “We have to do it by systematically informing the citizens about the size and quantum of the fuel subsidy. We also have to educate them about the opportunity cost of what we are unable to do because of the fuel subsidy.’’

“It is not money that we have; it is money that we have to borrow to maintain the fuel subsidy. Some countries introduced subsidies during COVID-19, and because of the Russia-Ukraine conflict, they are using their money to fund such subsidies.

“In our case, we are borrowing to pay the subsidies; that is double jeopardy. It is something that has to stop. We are glad that the majority of the people in decision-making positions, including the political parties, have agreed that subsidy is not sustainable.

”The plan is, by June 2023, we must have completely exited the subsidy regime, and it has to be a gradual process.’’

Meanwhile, analyst insist that it will be difficult to remove subsidy next year, as the new administration that’s expected to take over from the incumbent in May 29, 2023 will likely face a backlash from Nigerians if it tries to remove petrol subsidy as soon as it gets into office.

The incoming government will require more time to stabilize before taking a decision on such a critical issue, analysts said.

2023: Tinubu Shades Obi, Vows To Send Him Back To Anambra

By
James Orji
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0
Bola Ahmed Tinubu

Bola Tinubu, presidential candidate of the All Progressives Congress, APC, says his counterpart in the Labour Party, LP, Peter Obi does not know his way to his state, Anambra.

The APC presidential candidate spoke during the flag off of his campaign in Jos, Plateau state on Tuesday.

The widely attended event was graced by top APC chieftains including President Muhammadu Buhari.

Tinubu, considered to be in a three horse race with Obi and Atiku Abubakar of the People’s Democratic Party, PDP, spoke amidst the controversy raised by Governor Charles Soludo of Anambra state that Obi will not win the 2023 presidential election.

Soludo dismissed Obi’s presidential bid, describing the LP candidate as selfish with his ambition and, trying to compromise the south east interest.

The Anambra helmsman said Obi’s ambition has destroyed the chances of the region to negotiate a better deal with either Atiku or Tinubu who he said stood a better chance to win the election.

Speaking at his campaign on Tuesday, Tinubu further shaded Obi, describing him incapable to run the country.

If Obi did well as Anambra governor, Tinubu said the LP candidate would not be living in Lagos state. Tinubu, a former Lagos governor has built his presidential campaign on his achievements in the state.

He however vowed to send Obi bsck to his state after wining the presidential election next year.

Tinubu said: “Peter Obi, Haaa! This Obidient. He lives in Lagos, not in Anambra. He doesn’t know the road. We will return him to Anambra.”

How LAHA Member, Hon. Abdul Sobur Lawal, Died At The APC Rally Ground In Jos

By
Akinwale Kasali
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Abdul Sobur Olayiwola Olawale

By Akinwale Kasali

The Lagos State House of Assembly has been dealt a big blow. One of its members, Hon. Abdul Sobur Olayiwola Olawale, representing Mushin Constituency 02 is dead.

The Honourable member died unexpectedly in Jos, Plateau State, Tuesday evening.

He was, as one would have thought, in robust health when he joined his colleagues on a trip to Jos from Lagos. They had gone to the flag-off ceremony of the Presidential Campaign of the All Progressives Congress, APC. Their leader and political godfather of Lagos State, Asiwaju Bola Tinubu, was the star of the day. He is the Party’s Presidential candidate.

Literally, therefore, almost every who-is-who in APC, Lagos State, emptied into Jos

But Olawale did not live to witness the end of the event. He slumped at the Rawang Pam Township Stadium in Jos, Plateau State venue of the event.

As soon as he slumped, he was rushed to the hospital. But it was  no use. He passed on, just like that.

The Lawmaker, popularly known as Omititi, was a vocal voice in the Lagos Assembly led by Rt. Hon. Mudashiru Ajayi Obasa.

Announcing his sudden death, Hon. Setonji David, Chairman, Lagos State House of Assembly Committee on Information, Strategy and Security, described it as sad.

A statement on behalf of the Lagos Assembly signed by  Setonji reads:  “It is with deep sadness, sense of loss and heavy hearts that we inform you of the death of our colleague and friend, Hon. Abdulsobur Olayiwola Olawale (alias OMITITI) representing Mushin Constituency 02 in the Lagos State House of Assembly, who passed on today.

“Hon. Olawale was, until his untimely demise, the Chairman House Committee on Local Government and Community Relations. A second term lawmaker left us unexpectedly and threw the whole  House into mourning.

“This death really hit us below the belt. We will all miss him more than words can express. We urge you to join us in prayers for his family at this time”, the statement reads.

His remains will be flown back to Lagos State Wednesday morning for burial according to Islamic Rites.

2023: Tinubu Vows To Leverage On Buhari’s Achievements

By
Akinwale Kasali
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0
Tinubu and Buhari

By Akinwale Kasali

The All Progressives Congress, APC, Presidential Candidate, Asiwaju Bola Tinubu has promised to build on the achievements of President Muhammadu Buhari if he is elected President of the country come 2023.

Tinubu said the past seven years has seen President Buhari perform brilliantly in in the areas of infrastructure and laid solid foundation for development of agriculture and other sectors, which he is determined to leverage on when elected in the saddle.

He made this known in Jos, the Plateau State Capital at the flag off of the APC Presidential campaign for the 2023 election.

Speaking at the campaign ground, Tinubu said, “We were insecure, we turned to President Muhammadu Buhari and he embarked on rehabilitation, recovery and redemption of Nigeria.

“He started by destroying the terrorists’ flags systematically, tactically and frontally and today there are no flags of strange military colours in any of our local governments in Nigeria.

“Nigeria was sinking but Buhari pulled us out and said that Nigeria will not sink in his time and in the time of the APC,” he said.

The former Lagos State Governor said Buhari superintended over a most fair and credible primary election that produced him as the flag bearer.

He reaffirmed his commitment to good governance, stating that the 2023 general election “is a fight not to leave the country to looters.

“We will never surrender to them to stop the efforts to clean the rot they left us in.

“We will assemble the best team to reverse the decay. We are determined to ensure that nobody will go to bed without food in their stomach.

“Buhari cares and we care too, instead of letting them distract us, we will follow our right path and ensure that we continue with the good work,” he added.

He added that if elected, his administration would continue the oil exploration in all frontiers of the basins and develop commercial oil found in Gombe State and Lake Chad Basin.

Soludo’s Son, Ozonna, Says Peter Obi is Best Presidential Candidate

By
The Source
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0
Ozonna Soludo and his father

By Charles Igbo

Ozonna, the first son of the Anambra State Governor, Professor Charles Soludo, has distanced himself from the altercation between his father and the Presidential Candidate of the Labour Party,  Peter Obi.

Ozonna, a Musician, said  he was in no way connected  to his father’s opinion about Obi, and would not like to be dragged into it.

He lamented that his name has unnecessarily been dragged into the altercations between the two men, in which his father has shocked many by inexplicably attacking Obi in a most condescending manner.

As a way of emphasizing his independence, Ozonna said, to him,  Obi is the best Presidential candidate.

His words:  “I would appreciate not being dragged into this. I am not an extension of anybody. I have my own opinions and have always said I think Peter is the best candidate.  All this has nothing to do with me.”

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