Home Blog Page 2035

Redesign of Naira: CBN Replies Minister of Finance; Says Buhari Approved In Writing

By
The Source
-
0
Godwin Emefiele

By Gideon Njoku

The Central Bank of Nigeria, CBN, has expressed surprise over the claim by the Minister for Finance, Budget and National Planning, Mrs Zainab Ahmad, that she was not consulted on the plan to redesign three Naira denominations – 200, 500, 1000 notes.

The Minister had caused a stir on Friday when she told the Senate Committee on Finance, Budget and National Planning while defending the Budget, that she was unaware of the  redesign as neither she nor the Ministry was consulted. She also advised against the policy.

The Minister’s response not only gave the impression of a divided house, it presented her as irrelevant in the scheme of things. A shocked economist noted: “The decision to redesign the Naira notes was not a one night decision. If the Minister was not aware, and as she said read it in Media, it means she is irrelevant and should quit from office.”

However in a swift response to the Minister’s embarrassing response, the CBN explained that it not only followed every due process, but that President Muhammadu Buhari approved it.

Speaking with a group of Reporters Friday night,

CBN spokesman, Osita Nwanisobi, stressed that “the CBN remains a very thorough institution that follows due process in its policy actions.”

Nwanisobi submitted that “the Management of the CBN, in line with provisions of section 2(b), section 18(a), and section 19(a)(b) of the CBN Act 2007, had duly sought and obtained the approval of President Muhammadu Buhari in writing to redesign, produce, release and circulate new series of N200, N500 and N1,000 banknotes.”

He also noted that thar the redesign was 12 years overdue, asked for support, and emphasized that

it was in the “overall interest of Nigerians.”  He revealed that some people “were hoarding significant sums of banknotes outside the vaults of commercial banks”, and added that it should not be encouraged.

Terror Alert: “We Had No Joint Operation With The US Army” – DSS

By
Adesina Soyooye
-
0

By Adesina Soyooye

The Department of State Services, DSS, has debunked the report that it carried out a joint operation with US soldiers in Abuja on Wednesday.

On Thursday, a report had gone viral that the DSS, in conjunction with American soldiers, raided an Estate in Abuja, Trademore, where they discovered boxes of ammunition in an apartment as well as guns. The report also said bombs were discovered and a couple of arrests, it was made.

The raid followed an alleged imminent terrorist attack on Abuja raised by the United States Embassy in Nigeria. The Embassy followed up with an evacuation of its non-essential staff and their families from Abuja.

However, while the DSS confirmed the raid in a statement on Friday, it debunked the version that it was in conjunction with any foreign soldiers. The Service said it carried out the operation with the Nigerian Military. It also said no bombs were recovered and no arrests were made in the Estate.

The  statement signed by the DSS Spokesperson, Dr. Peter Afunanya, said: “It is true that an operation was carried out by DSS Operatives, and the Nigerian  Military, but no foreign Military Personnel was involved.

“It is not true that any bomb was recovered or anyone arrested during the operation in the said estate.”

The alert raised by the US Embassy, as well as the United Kingdom, Canada and Australian Missions in Nigeria, sent panic amongst the residents of Abuja, and a quick review of the security situation within the FCT.

Already, a number of public and private places, including schools, are scaling down activities or shutting down.

On Thursday, one of the biggest Malls in Abuja, Jabi Lake Mall, in the Jabi area of Abuja, shut down until further notice over the security alert.

Atiku Shuts APC Up With High Profile Working Visit To The US

By
The Source
-
0
Atiku Abubakar in USA

By Gideon Njoku

The news is not that Atiku Abubakar, the Presidential candidate of the Peoples Democratic Party, PDP, is in Washington DC, the United States Capital. Two things should be the news. His high profile delegation. And the way he shut political enemies who taunt him that he had been barred from the United States, and/or that he had a case to answer over an alleged $40m money laundering in the US.

In the former Vice President’s official delegation are the following: Aminu Tambuwal, a man with a couple of caps. Tambuwal, a Lawyer, is the Director General of the PDP Presidential Campaign Council, Chairman, Nigerian Governors, Forum, Governor,  Sokoto State, and a former Speaker of the House of Representatives, a former President of the Senate, Dr Bukola Saraki, medical doctor-turned politician, a former two-time Governor of Kwara State, The Rt. Honourable Emeka Ihedioha, a former Governor of Imo State, a former Deputy Speaker of the House of Representatives, and, Honourable Ndudi Elumelu, Minority Leader, House of Representatives, among others.

With the high profile delegation, Atiku quietly made a statement: “I am not alone, I am taken seriously in my country.”

The visit, also, afforded him an opportunity to take the wing off allegations that he was facing money laundering charges in the US, and would be arrested if he set foot on the soil of that country, a reason, they allege, he goes to Dubai instead. The opposition has lost on that score.

But in a Press Statement on Friday, Atiku’s Media Adviser, Paul Ibe, disclosed that Atiku, who is expected to spend one week in the US, will use the opportunity “to share his vision for Nigeria with US business communities and young Nigerian professionals in North America.”

The full text of the statement reads:

Why Atiku is visiting US

The Presidential Candidate of the Peoples Democratic Party and former Vice President of Nigeria, Atiku Abubakar, on Thursday, arrived Washington DC, United States on a working visit.

“The visit will afford the PDP Presidential Candidate the opportunity of high-level engagements aimed at setting the pace for building an economically stronger and more secure Nigeria.

“Atiku will be in the US for a week-long engagement that will opportune the frontline Presidential Candidate share his vision for Nigeria with US business communities and young Nigerian professionals in North America.

:The delegation of the former Vice President comprise senior members of the PDP Presidential Campaign Council, personal aides and other members of the PDP.

Those in the official delegation include the Director-General of the PDP Presidential Campaign Council and Governor of Sokoto State, Aminu Tambuwal, former Senate President, Bukola Saraki, former Governor of Imo, Emeka Ihedioha and Minority Leader of the House of Representatives, Hon. Ndudi Elumelu, among others.”

Atiku is the second major Presidential candidate to visit the US in recent weeks.

The first was the Presidential candidate of the Labour Party, Peter Obi, who, even though he traveled with no high profile Delegation, had a successful outing across a number of States in the US.

Naira Re-designing: Emefiele On His Own – FG; Crack Appears In Buhari’s Government

By
The Source
-
0
Zainab Shamsuna Ahmed,minister of finance

By Gideon Njoku

Is it possible for the Governor of the Central Bank of Nigeria, Godwin Emefiele, to announce the redesigning of the Naira without the knowledge of the Federal Government?

Is it possible for him to make it public without any clearance from President Muhammadu Buhari and/or the Ministry of Finance?

These are the questions Nigerians are asking after the Minister of Finance and Budget, Zainab Ahmad, told the House of Representatives that neither she nor the Ministry was aware of Emefiele’s and CBN’s plans.

She told the Committee of the  House on Finance and Budget during the defence of the 2023 Budget, in answer to a question by Senator Opeyemi Bamidele, on the consequences the Naira redesigning would have on the value of the Naira, that she only read about the redesigning of the Naira in the media.

“Distinguished Senators, we were not consulted at the Ministry by the CBN on the planned Naira redesigning and cannot comment on it as regards merits or otherwise.

“However as a Nigerian privileged to be at the top of Nigeria’s fiscal management,  the policy as rolled out at this time , portends serious consequences on value of Naira to other foreign currencies.

“I will however appeal to this Committee to invite the CBN Governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now.”

Emefiele had announced the redesigning of the 200, 500 and 1000 Naira denominations on Wednesday, October 26, 2022.

48 hours after the announcement, the Naira fell, on Friday, badly, to the Dollar, exchanging for N788 to a Dollar.

The interpretation of this denial by the Minister is that there is a crack in President Muhammadu Buhari’s Government.

Recall that CBN Governor Emefiele had on Wednesday said that the apex bank would redesign the country’s currency from 200 Naira denomination to N1,000 notes .

Emefiele said the action was taken in order to take control of the currency in circulation just as he posited that  the  bulk of the nation’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue.

According to him, the planned policy he added , was  in line with Sections 19, Subsections a and b of the CBN Act 2007, upon which 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 notes.

2023: PDP Presidential Campaign Council Spokesperson Tackles Wike, Says He Is Enemy of Rivers State

By
Akinwale Kasali
-
0
Nyesom Wike

By Akinwale Kasali

The Presidential Campaign Council, Peoples Democratic Party, PDP, Rivers State Chapter,  has alleged that the State Governor, Nyesom Wike,  is only playing to the gallery over his statement that he was undermined, disrespected and neglected by The Party’s Presidential Candidate, Atiku Abubakar.

Spokesman of the Atiku/Okowa Campaign Council in the State, Leloonu Nwibubasa said the statement by the Governor was not just misleading, but false. He said Wike and the state Chairman of the Party were notified about the set-up of the Presidential Campaign Council.

Speaking on a Radio Station (Naija Info) in Port Harcourt on Friday, Nwibubasa said that contrary to statements by Governor Wike that photos of the PDP Presidential candidate and the party’s National Chairman, Senator Iyorcha Ayu, were missing from the PDP campaign materials in the state because they did not approach him for any campaign Wike was basically a personal vendetta since he lost out in the Presidential primaries.

He said, “The Governor’s statement is misleading and there is no truth in the allegations he has levelled against the PDP at the national level.

“His statement is completely misleading and we are advising the Rivers people to take notice of this that this is a product of a personal vendetta by the Governor having lost out of the PDP Presidential primaries.

“It has nothing to do with the PDP at the national level. We also understand that the Governor has been pushing Rivers people in the direction of his own selfish interest.”

The former Commissioner for Employment Generation under Wike alleged that the Governor does not have genuine supporters in the PDP.

“When the people know the truth, they will align with the truth and that is why we are speaking up. Rivers is a PDP State and whoever wants to push us from the PDP to any other party is an enemy of the State.

“I can tell you that even some of the people you said are supporters of the Governor are not. They may be his supporters publicly but in their minds, they are all going to work for the PDP eventually.

“But for fear of the Governor and because they hold positions right now in Rivers State, they are likely to be telling you we’re with Wike. I can tell you that no one is with Wike,” he said.

Buhari Says No Cause For Alarm Over Security Warnings, Urges Vigilance

By
Ayodele Oni
-
0
President Buhari of Nigeria

By Ayodele Oni

President Muhammadu Buhari has advised Nigerians to be alert and be careful, in the wake of security alert raised by the United States to it’s citizens in the country.

The President also called on Nigerians not to panic, but to remain vigilant, assuring that security agencies are on top of the situation.

The President gave the counsel in a statement issued on Friday by Garba Shehu, his Senior Special Assistant, Media & Publicity.

According to the statement, Buhari advised the nation’s security establishments and entire citizens to continue being vigilant and careful with security, saying that it is important to avoid panic.

While calling for calm, President Buhari stressed that the recent changes in travel advice from the US and UK governments should not be a cause for panic.

“Nigeria is no exception in having terror threats listed in foreign government’s travel advice to their citizens. UK and US travel advisories also state there is a high likelihood of terror attacks in many Western European nations.

“Indeed, the UK and US advice to their respective citizens for travel to one another’s countries contain the same warning. Unfortunately, terror is a reality the world over.

“However, it does not mean an attack in Abuja is imminent. Since the July prison raid, security measures have been reinforced in and around the FCT.

“Heightened monitoring and interception of terrorist communications ensure potential threats are caught further upstream.

“Attacks are being foiled. Security agents are proactively rooting out threats to keep citizens safe – much of their work unseen and necessarily confidential.

“Nigerians’ safety remains the highest priority of government. Security services are working around the clock to keep harm at bay.”

The statement also informed that Buhari gave assurances that the government is on top of the security situation in country.

While noting that “in addition that security threats are real and have been with us for a long while, the nation’s military, the police and other security agencies have shown a capability to deal with it, as is evident from the fact that a majority of our partners, including the United Nations agencies in our midst have not seen the threat as being sufficient to warrant any form of panic or order citizen evacuations.”

The President stressed that while being security conscious, “being alert and careful is crucial, it is also important that responsible members of the society do not create situations leading to unnecessary panic.”

President Buhari commended the military and other security agencies for the recent turn around in the nation’s security, and directed that additional precautionary measures be put in place and that “these must not slacken now, and during the upcoming festive period.

The President expressed optimism that given the on-going efforts on the part of the military and other security and intelligence agencies with the active support of the civilian population, the nation will emerge victorious against the current challenges facing it.

BREAKING: Appeal Court Stops Nnamdi Kanu’s Release

By
The Source
-
0

By Gideon Njoku

The Federal Government has succeeded in its appeal against the implementation of the judgment of the Court of Appeal, two weeks ago, which condemned the extraordinary rendition of the Leader of the Indigenous Peoples of Biafra, IPOB, Mazi Nnamdi Kanu, and discharged and acquitted him of terrorism charges.

The expectation was that, based on the judgment, the FG would release Kanu from custody.

But the Attorney General of the Federation and Minister for Justice, Abubakar Malami, SAN, appealed against the judgment at the Supreme Court, and also filed a stay of execution action at the Court of Appeal against the earlier judgment which set Kanu free.

On Friday, October 28, 2022, the FG had its way as the Court of Appeal stopped the execution of its earlier judgment.

Justice Haruna Tsanami who read the brief ruling upheld the appeal of the Federal Government. The Court suspended the execution of its judgment, pending the judgment in the appeal filed at the Supreme Court by the FG.

He dismissed as misleading, the counter affidavit against the FG, filed by Kanu’s legal team, led by Mike Ozekhome, SAN.

Kanu has been in the custody of the Department of State Services, DSS, as ordered by a Federal High Court, Abuja, since he was renditioned from Kenya to Nigeria in June, 2021.

Obi-Datti Begins National Campaign Rally; Salutes Obidient Family For Resolve And Commitment

By
The Source
-
0

The ancient North Central City of Lafia, Nasarawa State capital, will be agog  Saturday October 29, 2022 as the Labour Party Presidential Campaign begins its rally ahead of 2023 general election.

The Director General of the National Campaign Council, Dr Doyin Okupe, was upbeat  on Friday telling the Obi-Datti Media Office that the rally is going to be massive and instructive.

Dr Okupe said that Nasarawa and other States in the North will, by the rally be announcing their arrival in the region and subtly sending a strong message that Obidient Family is everywhere and anywhere.

According to the DG, Obidient Movement is total and all embracing and had announced their entry into the political space since June when Peter Obi and Yusuf Datti Baba-Ahmad emerged as the Presidential and Vice Presidential candidates of the Labour Party.

Dr Okupe noted that the Obidient Movement has been holding rallies across the country announcing the resolve of Nigerians to take back their country pointing out that what is happening in Nasarawa state tomorrow is like the Party and the Campaign Council giving support to the Nigerian youths who have been on the road across the country since June this year.

He was full of praises for the Movement popularly called the Obidient  family for being at the forefront of rescuing this country from the grip of successive corrupt and insensitive leaders.

Dr Okupe said that the uncommon patriotism and zeal shown by the youths about the Obidient Movement gives hope and succor to many Nigerians that restoration and rebuilding of this country is possible and achievable.

Those expected to address the Lafai rally on Saturday includes but not limited to the Presidential Candidate and his Vice, the Director General of the Campaign, Chairman of the National Campaign Council, retired AIG Mohammad Zarewa, the National Chairman of the Labour Party, Comrade Julius Abure who serves as the Chairman Advisory Council of the Campaign . All the gubernatorial, National and state Assembly Candidates of the Party from the North Central zone of the country.

Recall that the Presidential flag bearer had last week paused his campaign to enable  him visit and sympathize with victims of flood disaster that ravaged some states of the federation.

Obi visited Benue, Bayelsa, Taraba, Anambra, Delta, Kano and Bauchi states. On friday Obi and his Vice Datti Baba-Ahmad were in the Palace of the Emir Bauchi, HRH Dr Rilwan Suleman Adamu and also paid courtesy call on other Islamic clerics in the city.

2023: Tinubu Tackles Prof Akintoye; Says Elder Statesman’s Statement, Poor, Malicious

By
Akinwale Kasali
-
0
Dr Banji Akintoye

By Akinwale Kasali

The Presidential candidate of the All Progressives Congress, APC, Asiwaju Bola Ahmed Tinubu has tackled an elder Statesman, Prof Banji Akintoye, over the latter’s opinion of his Presidential ambition.

Akintoye, the Leader of the Yoruba Nation Self-Determination Struggle, had on Thursday in a release, said that Tinubu’s presidential ambition was personal and not for the welfare of the Yoruba people.

The elder statesman said that the former Lagos State Governor is bent on succeeding President Muhammadu Buhari for personal reasons and not to champion the cause of the Yoruba people.

“Our history will judge that at a time when our nation needs to stand up and defend itself, you started to bring up an agenda; a personal agenda of your own before them. You are asking us to vote for you.

“We will not vote for you. Whether it is for the Presidency or the Senate or House of Rep or whatever, we will not vote for you. We would have taken our country out of Nigeria by then. So, we advise you now to return to your people. I am advising you now, to return to your people and wash your soul clean. You are doing an unpardonable thing.”

However, Director, Media and Publicity, Tinubu-Shettima Presidential Campaign Council, Bayo Onanuga, has labeled Akintoye’s statement as malicious and unwarranted, stressing that his Principal is in the Presidential race to serve Nigerians and revamp the economy of the nation.

A statement by Onanuga titled, ‘Professor Banji Akintoye’s Misdirected Aggression’ reads:

“Our attention has been drawn to an unfortunate, misdirected, misplaced and divisive statement credited to Prof Banji Akintoye, in which his group threatened to pull the South West out of Nigeria.

“To be candid, there are several agitation groups in the South West and in other parts of Nigeria who wrongly think the best way to demand justice and fairness is through the break-up of our country.

“And since there has been no referendum held in Yorubaland about whether to stay in Nigeria or not and no such referendum has been held in any part of Nigeria, it is then appropriate to assume that this separatist idea is Akintoye and his group’s sole idea.

“We join other bonafide and critical stakeholders in Yorubaland to advise Prof Akintoye not to plunge our people into a needless and precipitate crisis or create another Rwanda.”

Onanuga also faulted Akintoye’s argument that Tinubu is pursuing personal interest.

He continued, “We find it quite preposterous the Professor’s sweeping outlandish accusation that Asíwájú Bola Ahmed Tinubu is only pursuing his PERSONAL interest in running for the presidency of Nigeria. Such a statement is malicious and unwarranted. It is pertinent to state that Asiwaju Tinubu is contesting for Nigeria’s presidency because of his readiness to render unflinching service to Nigerians and because of his abiding faith in a strong, united and prosperous Nigeria where every man and woman, regardless of their ethnicity and religious beliefs, can be proud and prosperous.

“Most of the issues around the structure of our federalism raised in Prof Akintoye’s poorly thought-out statement have been sufficiently addressed in Asiwaju’s Action Plan with his promise to address some of the problems plaguing our federalism and the will to make the states more viable as federating units by devolving more powers to them.”

Governor Oyebanji Seeks FG’s Support For Ekiti, Meets Relevant Stakeholders

By
Ayodele Oni
-
0

By Ayodele Oni

Ekiti State Governor, Mr Biodun Oyebanji, is intensifying efforts to ensure that the State enjoys Federal Government’s support, especially in areas of provision of infrastructure.

To this end, the Governor led Federal Lawmakers from the State to a meeting with the Senate President,  Ahmad Lawan, and other leaders of the Assembly at the National Assembly Complex, Abuja.

The Chief Press Secretary to the Governor, Yinka Oyebode in a statement, said  Oyebanji discussed some of the challenges confronting the state, especially in the areas of poor condition of federal roads and absence of power supply to some areas of the state.

He sought the support of the National Assembly in ensuring some of these concerns get necessary budgetary attention.

Present at the meeting were Senator Bunmi Adetunbi; Senator Opeyemi Bamidele; Hon Femi Bamisile; Hon Yemi Adaramodu; Hon Wunmi Ogunlola, Hon Ibrahim Olanrewaju, Hon Femi Bamisile and Hon Sola Fatoba.

The Senate President who hailed the Governor for the visit,  pledged the support of the Upper legislative chamber for the Ekiti government’s developmental efforts.

The Governor also held talks with the leadership of the House and Senate Committees on Works, and power, where he made case for comprehensive renovation of Federal roads in Ekiti and fixing of electricity issues in some parts of the state.

Earlier, the Governor in company with Senator Opeyemi Bamidele and Hon Femi Bamisile had held similar meeting with the Minister of Power, Engr Abubakar Aliyu, where the issue of upgrade of power infrastructure in the state, especially reconnection of some towns and communities to the national grid was tabled.

Governor Oyebanji said he was satisfied with the level of understanding shown by the leadership of the National Assembly, as well as Federal lawmakers from Ekiti State, adding that no stone would be left unturned  in the quest for support from relevant agencies and institutions for the socio-economic and infrastructure development of the state.

1...2,0342,0352,036...3,136Page 2,035 of 3,136