TOP STORIES.

CBN issues fresh directives to Banks on new Naira notes.

The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to commence the payment of the redesigned naira notes over the counter, subject to a maximum daily payout limit of N20,000.

The directive is coming on the heels of business grinding to a halt over the scarcity of the redesigned notes, having deposited old notes with the commercial banks.

The CBN reiterated its commitment to Nigerians to ensure the effective distribution of the newly introduced naira banknotes, urging them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs.

The statement which was signed by the Director Corporate Communication, Osita Nwanisobi, said the CBN observed with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of naira notes in the air and stamping on the currency at social functions.

Nwanisobi said: “We have equally noticed the queues at Automated Teller Machines (ATMs) across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them.

“Also worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.
“We wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever.

The statement quited Section 21(4) which states that “It shall also be an offence punishable under
Sub-section (1) of this section for any person to hawk, sell or otherwise trade in
the Naira notes, coins or any other note issued by the Bank.”
Nwanisobi said the CBN is collaborating with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice.

He warned Nigerians, particularly those at social functions such as birthdays, weddings and funerals, to desist from disrespecting the naira or risk being arrested by law enforcement agencies.
He also admonish members of the public to embrace and adopt other payment channels for their transactions.

2022: Buhari Committed To A Free, Fair And Credible Election — Lai Mohammed.

The Minister of Information and Culture, Lai Mohammed, said on Wednesday that President Muhammadu Buhari, was neither favouring nor disfavouring any presidential candidate ahead of the February 25 election.

The minister stated this after the weekly Federal Executive Council meeting when reacting to a statement by the Kaduna State Governor, Nasir El-Rufai, that some elements in Aso Rock were working against the victory of the presidential candidate of the ruling All Progressives Congress.
It had been reported that El-Rufai alleged that some “elements” in Aso Rock were working against Tinubu’s emergence as President.
El-Rufai, who spoke on a Channels Television breakfast programme, Sunrise Daily, explained that the persons in question were aggrieved that Tinubu defeated their candidate in the June 2022 APC presidential primary.
He cited the naira redesign policy as one of several schemes targeted at the APC presidential candidate, Tinubu, who also made a similar claim a week earlier.

According to El-Rufai, “I believe there are elements in the Villa that want us to lose the election because they didn’t get their way; they had their candidate. Their candidate did not win the primaries.

“They are trying to get us to lose the election, and they are hiding behind the President’s desire to do what he thinks is right. I will give two examples: this petroleum subsidy, which is costing the country trillions of Naira, was something that we all agreed would be removed.

“In fact, I discussed with the President and showed him why it had to go. Because how can you have a capital budget of N200b for federal roads and then spend N2 Trillion on petroleum subsidy? This was a conversation I had with the President in 2021 when the subsidy thing started rising. He was convinced. We left. It changed. Everyone in the government agreed, and it changed.

“The second example I will give is this currency redesign. You have to understand the President. People are blaming the Governor of the Central Bank for the currency redesign, but No. You have to go back and look at the first outing of Buhari as President.
“He did this; the Buhari-Idiagbon regime changed our currency and did it in secrecy with a view to catching those that are stashing away illicit funds. It is a very good intention. The President has his right. But doing it at this time within the allotted time does not make any political or economic sense,” he added.
Reacting, the information minister said Buhari was focused on delivering free and fair elections to Nigerians and not disfavouring or favouring any candidate in the election.

He said, “On a more serious note, one thing I can assure you is that, no matter who, this administration is focused and determined to ensure a free and fair election. And I think this administration, and for that matter now, the most important person in this regard is Mr. President.

“I think he has shown by words and deed that he is committed to a free, fair and credible election. And fair, free and credible elections mean not favouring or disfavouring anybody,” he added.
Mohammed further said that Buhari makes it clear everywhere he goes that he is committed to a free, fair and credible election, adding that the Presidency is not “officially aware” of anyone in the Aso Rock who is working against the emergence of Tinubu as President in the February 25 election.
He said, “Everywhere he goes, he makes that very clear, even as recently as Friday, when he was in Daura. He said the same thing. So if there’s anybody who’s working against any candidate, we don’t know officially.”

Economic Crisis: Tinubu Didn’t Ridicule Buhari In Calabar – APC Campaign Council.

The All Progressives Congress Campaign Council (APC PCC) has denied media reports that its flagbearer, Bola Ahmed Tinubu, ridiculed President Muhammadu Buhari over the exchange rate.

It was reported that Tinubu, during his speech at the APC presidential rally in Calabar, the Cross River State capital, said when the Buhari government took over, the naira/dollar exchange rate was about N200 to a dollar, but it has depreciated to about N800 to the dollar on the parallel market.

But in a statement on Wednesday, the PCC Director of Media and Publicity, Bayo Onanuga, said Tinubu’s reference to exchange rate was not in any way an attack on the Muhammadu Buhari-led government but an attempt to capture how the Peoples Democratic Party (PDP) mismanaged the economy and forex crisis in the country since 2015.
Onanuga said Tinubu was not referring to Buhari and didn’t malign the president whatsoever, adding that the attempt by the opposition party to cause rift between the two leaders will fail. He added that the APC, its leadership and President Buhari are strongly united behind Tinubu.
He stated that Tinubu only advised the people not to vote for the PDP and its presidential candidate, Atiku Abubakar, because of their litany of failures while in power for 16 years.

*2023: Supreme Court Sacks Bwacha As Taraba APC Governorship Candidate*
Nigeria’s Supreme Court has nullified the primary election that produced Senator Emmanuel Bwacha as the governorship candidate of the All Progressives Congress (APC) in Taraba State.

Recall that the Federal High Court sitting in Jalingo, the Taraba state capital, on September 20, sacked Bwacha as the APC’s governorship candidate following a suit by a former aspirant, David Kente.
The court judge, Justice Simon Amobeda, granted Kente’s prayer and sacked the lawmaker as the winner of the primary polls.

The court ruled that the APC did not conduct any valid governorship primary in the state, hence the nullification of Bwacha’s nomination as the party’s gubernatorial candidate in Taraba.
Kente and Senator Abubakar Yusuf, another poll aspirant, contested Bwacha’s victory, alleging irregularities in the primary election that produced Bwacha.

However, the Court of Appeal in Yola set aside the ruling that nullified the primary that produced Bwacha as the APC governorship candidate for Taraba State.
The appeal court ordered that Bwacha’s name should be forwarded to the Independent National Electoral Commission (INEC) as the APC governorship candidate in Taraba.
Delivering judgment on Wednesday, a five-member panel of the apex court led by Justice Kudirat Kekere-Ekun affirmed the verdict of the Federal High Court that sacked the Taraba Senator.

Protesters Shut Down Enugu Over Price Hike, Fuel Scarcity.

Motorists and Keke operators, in Enugu State, on Wednesday embarked on a protest over a hike in the price of petroleum products, especially the Premium Motor Spirit, PMS.
The angry protesters manhandled workers of most filling stations in the State capital and ordered them to sell the products at government-approved prices.

The protesters demonstrated along some major roads, blocked some roads, forced both commercial and private motorists to join the protest in solidarity, a development that grounded vehicular and commercial activities for several hours in the metropolis.
The development forced owners of filling stations to close their facilities as the protesters threatened to burn down any station that refused to readjust their meters to the government-approved prices.

The angry protesters forced commercial drivers to discharge their passengers, park their vehicles and join them to trek to different filling stations to warn petroleum sellers of the consequences of selling above the stipulated pump prices.
Before the protest, some filling stations were selling fuel between 400 and 450 naira per litre, a development that occasioned the protest.
A minibus driver, Ikenna Okonkwo, who spoke to journalists, said that the protest was justifiable as they could no longer afford to fold their arms and watch people inflict untold hardship on them.

“Can you imagine that yesterday I bought fuel at 400 nairas and today it has risen to 450 and who knows if it will not rise to 500 or 600 naira by tomorrow? The protest is in order so that they will know that we are no longer happy, government should do something about it,” he stated.
A car owner who spoke to journalists, Mr Nwaigbo Okeke, called on government to regulate the activities of petroleum dealers, saying that it was unfortunate that they have continued to carry out outrageous increase of fuel pump price to the detriment of the masses.

However, the chairman of IPMAN, Enugu State, Chief Chinedu Anyaso had said that the scarcity and the hike in price was not their making but the hardship they undergo in procuring the products.

According to him, “people don’t know what we are going through to procure the products. Some of us go to Lagos, Warriors and Port Harcourt to look for fuel and it has not been easy. So, when we manage to get the supply, what do you expect us to do? He queried.
When contacted the spokesman of Enugu State Police Command, Daniel Ndukwe said he was not disposed but at workshop.

Investigation shows that some major Marketers that have the products sell at the regulated price but the queues are too long for motorists to endure, hence the patronising of the IPMAN filling stations.

2023: Tinubu, Peter Obi? Wike Reacts To Threat To Publicly Announce Preferred Candidate.

The Rivers State Governor, Nyesom Wike, has slammed the former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, over the threat to publicly name his preferred presidential candidate, ahead of the forthcoming election.
All eyes have been on Wike in the light of his assurance that he would make his preferred candidate known in January 2023.
There has been speculations that he would choose between the All Progressives Congress (APC) candidate, Bola Tinubu, and Labour Party (LP) flagbearer, Peter Obi.
It was earlier reported that Dakuku on Tuesday during the APC rally in Opobo-Nkoro accused Wike of placing personal interest above public interests.
He added that Wike is not a man of courage as he ought to have publicly revealed his preferred presidential candidate for the February 25 polls.
However, Wike while speaking at the PDP governorship campaign rally in Port Harcourt on Wednesday fired back at Dakuku, stating that failure and success are not at the same level.
Setting the record straight, the governor refuted claims that he would publicly announce his preferred candidate saying that residents of the state are already aware of his choice.

Naira Redesign: Vote Riggers Pushing CBN For Extension — Atiku.
The Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar has asked the Central Bank of Nigeria (CBN) not to consider postponing the old naira regime after the expiration of the February 10 deadline.
In a statement issued by his campaign organisation, Abubakar said the vote riggers are seeking to push the CBN to extend till after the February 25 and March 11 general elections in order to achieve their aims.

He, however, urged the CBN to immediately review the measures it has put in place for the circulation of the new naira notes to alleviate the hardship currently faced by Nigerians, especially rural dwellers.
The former vice-president said, “The anti-democratic elements who are pretending to be democrats are the ones ganging up against the CBN because of the currency redesign and the cashless regime it seeks to enthrone. They have been scheming and lobbying day and night to frustrate the policy.

“Now, their new measure is to lobby for a second postponement of the deadline for the change of currency. I urge the CBN and the government to ignore their antics. The CBN should not succumb to the current pressure.
“There should be no further postponement on the new naira regime after the expiration of the February 10 deadline. The vote riggers are seeking to push the CBN to extend till after the election when they would have achieved their evil plots.
“The CBN and the Presidency should be steadfast. The merits of the new naira policy far outweigh the little inconvenience we are experiencing,” he added.

2023: Atiku Gives Update On Rift With G5 Governors.

The People Democratic Party (PDP) presidential candidate, Atiku Abubakar, has given an update on the crisis rocking the main opposition party.
Atiku, in an interview with BBC Hausa service, broadcast on Tuesday, said that the party leadership is still talking with the five aggrieved governors popularly known as G5 Governors and their allies.
The former Vice President argued that the party crisis will definitely not affect his chances in the forthcoming presidential election because the party is satisfied with the elections preparations.
Atiku, however, said elections now is not like in the past when a governor will dictate who to vote for, saying that elections today is in the hands of the voters.

*That Audio Has Disclosed Nothing New – Atiku Replies Achimugu*
The Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar has declared that there is nothing new in the corruption allegations levelled against him by his former aide, Michael Achimugu.
The former Vice President said this in an interview with the BBC where he reacted to the trending allegations by Achimugu.
Recall the former aide in a series of leaked audios posted on the internet had accused Atiku of setting up fake companies and using them to divert government funds to his private pocket while he was in power.
However, the 2023 PDP candidate during the interview with BBC said all corruption allegations against him have been investigated in the past and he wasn’t found wanting.
He, therefore, declared the allegations by Achimugu as nothing new. The PDP candidate also said he is the most investigated person in the country.
Responding to a direct question which sought to confirm if the voice in the audio leaked by Achimugu was his own, Atiku said: “that audio has disclosed nothing new”.

2023: Amosun, Leads ADC Campaign Against Re-Election Of Gov. Abiodun.

Sen. Ibikunle Amosun (APC-Ogun Central), on Wednesday led the governorship campaign of the African Democratic Congress (ADC) in the state against the interest of his party.
Amosun, also a former Governor of Ogun, had rejected the governorship candidate of his party, Dapo Abiodun, also the incumbent Governor and openly declared his support for Biyi Otegbeye, the ADC Governorship candidate.

The campaign trail stormed the Ake Palace Ground, Abeokuta, venue of the formal inauguration of the ADC campaign.
Amosun, addressing the ADC members, said that he was not in support of Abiodun’s second term bid, because he had taken the state backwards from the development path his administration laid.
He said, it was regrettable that his successor had derailed from the development plan his administration started, insisting that only Otegbeye could return the state to the positive growth his government recorded.
Amosun explained that for justice, equity and fairness, the next governor of the state must come from Ogun West Senatorial District, which he said, has never produced the governor since the creation of the state.

“Otegbeye is my anointed candidate. I am APC, but for the governorship election, I’m going to support him. I’m going to work assiduously for the candidature of Biyi Otegbeye and his Deputy, Tunde Awonuga.
“The good works we started during my tenure must continue and this is why I’m supporting Biyi Otegbeye.
“Everybody knows me, I don’t hide behind one finger and evil thrives when good men refuse to talk, you know me, I’m APC, but this election that is coming, I support presidency coming to the South and that is why I’m supporting Asiwaju Bola Ahmed Tinubu,” he said.
Amosun further explained there were two major reasons why he was in support of ADC’s governorship candidate.

According to him, the reason is based on equity, justice and fairness, adding, Ogun is almost 50 years now and since the creation of the state, nobody from Ogun West has been governor.
“Some characters are saying Yewa don’t have good people, I know they have. Yewa has good children, I know that they can do it, Otegbeye is a lawyer, he has been tested and trusted.
“The second reason and that is very important is that, Ogun State must not derail. We have set the path of development for Ogun State, we must not allow it to be derailed.
“I feel sorry; I feel disheartened everyday when I see what is going on in the state; we must revert to that beautiful concept.

“We have prepared it, for the next 35 years so that people, who will come after us, will continue to do their own. If you see Lagos, you will say Lagos is doing this, Lagos is doing that, that is what they call continuity, just look at what we have designed for Ogun State.
“What we are here to do today is to take Ogun State back to that great position.
“I’m not the only governor, so it is not about Amosun, Amosun has done his bit, but Ogun state must go back to that positive trajectory and one person that I know can do the job very well is Biyi Otegbeye,” Amosun said.
He, therefore, urged the people to cast their votes for the governorship candidate of the ADC, Otegbeye, who hails from Ilaro in Ogun West Senatorial District of the state.
However, Otegbeye, in his short remarks, vowed to pursue programmes and policies that would make the state to continue on the path of greatness and economic prosperity.

2023: LP Campaign Director Reveals Why He Dumped Peter Obi

The Labour Party presidential candidate, Peter Obi, received a heavy blow in Bauchi state as his campaign director in the state, Alhaji Alhassan Bawu abandoned the party.
On Tuesday, the Campaign Director of Peter Obi in Bauchi admitted that the Labour Party does not have any structure in the state to win any form of election.

Hence, Bawu decamped to the Peoples Democratic Party (PDP) which is seen as the major rival of the ruling All Progressives Congress (APC).
The former LP chieftain defected from the Obi’s party to the PDP alongside some officials of the Labour Party in the Northeast.
While announcing his defection to reporters earlier today, Bawu said all LP’s chairmen, state and zonal officers, as well as national officers from the region, had defected to the PDP to support the candidacy of Atiku Abubakar.

Corruption: Nigeria Drop Points In Latest Ranking.
The latest corruption ranking data released by Transparency International has shown Nigeria dropped to 150 in rank against 180 countries.
The 2022 Corruption Perceptions Index (CPI), as seen on the global movement’s official website on Tuesday, shows that most countries of the world are failing to stop corruption.
A total of 180 countries and territories worldwide were ranked by their perceived levels of public sector corruption, and Nigeria, under President Muhammadu Buhari‘s leadership, seemed to have failed again.

Recall that Transparency International (TI) in its 2020 CPI, ranked Nigeria as the second most corrupt country in West Africa.
The report also rates only 12 countries as more corrupt than Nigeria in the whole of Africa, with Nigeria occupying 149th position out of 180 countries of the world at the time.

However, in its latest report, Nigeria scored 24 out of 100 points, falling off to 150th out of 180 countries. The CPI is TI’s tool for measuring the levels of corruption in the systems of various countries around the world.
Based on the CTI measurement tool, a country can score maximum points 100 points, and the least is zero. Zero signifies the worst-performing government, and 100 is the best-ranked.

Naira Redesign: ‘Emefiele Is An Enemy Of Democracy’ – Fani-Kayode.

A chieftain of the All Progressives Congress (APC), Femi Fani-Kayode, has described the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, as an enemy of democracy.
The former Minister of Aviation claimed that Emefiele has weaponized the apex bank and wants to derail the country’s democracy by provoking an uprising.
Fani-Kayode opined that the CBN policy of phasing out the old notes must be totally canceled until the general election was held and then done lawfully.

In a post via his verified Twitter handle on Tuesday, the former minister claimed Emefiele wants to cause a crisis, provoke a people’s uprising, and pave the way for an Interim Government.
He also alleged that the CBN governor has no plan to release enough new naira notes and intends to starve the people of cash and drive them to rage out of frustration.

Nigerians Are Suffering, Economy In Danger’ – LAHA.

The Naira redesign policy of the Central Bank of Nigeria (CBN) has brought mass suffering on the citizens of the country while the economy is in danger, the Lagos State House of Assembly has lamented.

The lawmakers further noted that even though the policy was a good one, its timing was wrong as it had further thrown the country into economic chaos which could become difficult to resolve if urgent steps are not taken.

The CBN had announced a 10-day extension of the deadline for currency swap at the weekend, but at a sitting presided over by Speaker Mudashiru Obasa on Tuesday, the lawmakers urged the CBN to extend the deadline for currency swap as the policy had not helped the country.

Dr. Obasa noted that the concern of the lawmakers had to do with the pains, anguish and anger spreading among Nigerians over their inability to access the new currency.
The Speaker said the CBN should have engaged stakeholders while citizens should have been adequately carried along rather than an ‘over-night’ policy by the CBN.

2023: ‘I Will Reply You One Day’ – Udom Emmanuel Fires Tinubu.

The Governor of Akwa Ibom State, Udom Emmanuel has condemned the presidential candidate of the All Progressives Congress (APC), Bola Tinubu over his comment during the APC presidential campaign on Monday.
Emmanuel in his reaction to Tinubu’s statement at the rally, said he won’t join issues with Tinubu, but rather focus on installing good governance to rescue Nigeria.

The Peoples Democratic Party (PDP) Governor said if someone had insulted Tinubu in Lagos State or his state of the indigene, they won’t have returned home safely.
He, however, noted that he is not like that, adding that he provided Tinubu with government facilities, security and several things and he was still insulted.
Emmanuel said Tinubu does not have anything to bring to the table for Nigerians, hence his decision to abuse people instead of issue-based campaigns.

 

2023: Opposition Parties Using Fake News To Undermine Elections – Mohammed.

The Minister of Information, Lai Mohammed, has alleged that the opposition parties are using fake news to try to undermine the forthcoming elections.

Speaking at a news conference in Abuja on Tuesday, Mohammed claimed that the opposition parties have been spreading fake news, and disinformation on the social media space in the run-up to the general elections.
The minister asserted that the sole aim of the opposition is to destabilize the electoral process and plunge the nation into crisis.

He said that the antics of the opposition parties is to constitute a clear and present danger to next month’s general election.
Mohammed, however, said the federal government has a range of options to checkmate the use of fake news and disinformation, and is looking at the best options to ensure that the agents of destabilization do not thwart the success of the elections.

Naira Redesign: Banks Will Continue To Accept Old Naira Notes After Deadline – Emefiele.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said banks will continue to accept old naira notes after the February 10 deadline.
Emefiele added that the apex bank will also continue to collect the old naira notes from commercial banks after the stipulated deadline.

He made this known during his appearance at an interactive session with the House of Representatives Ad hoc Committee on the currency redesign and naira swap policy on Tuesday in Abuja.

Emefiele made reference to Section 20, Subsection 3 of the CBN Act 2007 which mandates the apex bank to continue to accept old notes after the expiration of the deadline.
Speaking about the redesign of the naira, he said the CBN’s actions were in line with international best practices and the apex bank has to be in control of the currency in circulation.
Emefiele said in 2015 N1.4 trillion was in circulation, and by last year it had risen to N3.33 trillion.

He explained that the reason for directing banks to ensure only ATM withdrawals was to limit the daily withdrawal of individuals.
The CBN boss decried the trend of the new notes being sighted at parties and stated he was in meetings with commercial banks to mitigate these.

2023: I Will Cage It – Tinubu Makes Promise As He Storms Anambra.

The presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, has promised the people of Anambra that he would tackle the state’s erosion menace the same way he “caged” the Atlantic ocean surge in Lagos State.

The Eko Atlantic City in Lagos comprises a total of 10 districts, spread across a land area of approximately 10 square kilometres (3.9 sq mi) reclaimed from the Atlantic Ocean.
It was a pet project of Tinubu during his time as the governor of the state but his successor, Babatunde Fashola drove the project to the implementation stage.
Tinubu, while speaking during his Presidential campaign rally in Awka, Anambra state capital on Tuesday, said if elected, he would make Anambra the industrial hub of the country.

Osun Tribunal: Adeleke Speaks On Forging Certificates.

The Osun State Governor, Ademola Adeleke, has denied claims that he forged any of his certificates.
The governor’s media aide, Olawale Rasheed, in a statement released on Tuesday, said the clarification was necessary following a component of the judgement of the Osun Election Petitions Tribunal purporting forgery against Adeleke.
He said the public should know that Adeleke did not forge his testimonial or any certificate, describing the claim as an attempt to damage the reputation of the governor.
The statement read in part, “We seek to clarify a very sinister component of the Kangaroo judgement on Osun Governorship election. Governor Ademola Adeleke did not forge any certificate or testimonial.
“The issue of forgery has to do with an error on school testimonial which bears Osun instead of Oyo State. Osun State was part of Oyo State when Governor Adeleke completed his high school education in 1981.
“The issuing school testified before the Court of Appeal in 2018 that it was their error, which has nothing to do with Governor Adeleke. The Court of Appeal ruled that there was no forgery and exonerated Governor Adeleke of any forgery.

“The public should know that Governor Adeleke did not forge this testimonial or any certificate. This was an attempt to damage the reputation of Governor Adeleke.
“The tribunal chairman should explain how he arrived at his opinion when the Court of Appeal had cleared Governor Adeleke of any forgery.”