Author: The Nation

•Cash crunch bites harder
•NSA: scarcity affecting military operations

Relief is far for cash-strapped Nigerians as more banks shut their branches yesterday.

The banks hinged their actions on lack of cash and safety, it was learnt.

Banks like Zenith, Sterling and Fidelity have had some of their branches in Lagos, Ibadan, Abeokuta and Benin shut for three days after being stormed by angry customers.

Two Tier-1 banks in Lagos left notes at their banking premises indicating they had server challenges.

Nigerians have for some days been restive due to the Central Bank of Nigeria (CBN) naira redesign policy that has made both the old and new naira notes scarce. 

The situation is made worse by severe challenges in carrying out transactions online due to poor connectivity. 

In many of the banks’ branches on Victoria Island, Lekki and Folomo axis of Lagos, security men were given clear instructions not to allow any customer demanding cash transactions into the banking halls.

Only customers needing interbank or intra-bank transfers, ATM activation, new account opening, and forex transactions, among others, were allowed into the halls.

An official of FirstBank Lekki Phase 1 said: “We do not have the cash to pay anyone. We were told not to dispense cash at all. That’s the instruction the bank gave us.”

But the official did not say if it was the CBN or First Bank authorities that gave the instruction  

Inside the banking halls, many customers queued to activate their ATM cards and also carry out e-payment transactions.

One of the customers in her early 60s, of the First Bank Lekki Phase 1 branch, who was turned back, said: “We are now prisoners in our own country. I cannot believe that a bank I have been its customer for over 40 years is denying me entry. It is very sad.” 

At the Awolowo Road branch of GTBank, Lotus Bank, and Standard Chartered Bank, which had one ATM point dispensing cash, there were over 4,000 customers in line to make cash withdrawals.

A customer, Michael Otu, said he lives at Obalande, but was told that the three banks’ ATMs were dispensing cash. 

“I was told by one of my friends that the three banks’ ATMs were dispensing cash. I had to rush to see if I can get cash to settle some obligations,” he said.

Aside from no cash transactions in many of the banks’ branches, several other branches were not open for business.

Fidelity Bank Ibeju-Lekki branch has not opened for the past two days. A customer told The Nation yesterday that she nearly slept there on Wednesday. 

“The ATMs are not dispensing cash; the banks are also not open for business. How can I access my funds to meet my obligations to my family?” she asked. 

When contacted, the security man at the bank said the branch did not open because of server issues. 

The Dopemu Branch of Sterling Bank near Iyana Ipaja was shut to customers, some of who turned up as early as 7am.

The customers, who were given numbers, waited in vain for the ATM to be loaded with cash. As of 2pm when our reporter left the branch, none of the two ATMs was dispensing cash. 

Some of the customers, who had already waited for over seven hours despite the scorching sun, said they had no choice and would continue waiting.

The UBA branch on Fatai Atere in Matori, Lagos, though open, did not pay either over the counter or via ATM.

The plight of residents of Ondo State was made worse by the fact that ATMs did not dispense cash.     

Although the banks, especially along Oba Adesida Road and at Alagbaka, were shut, many customers waited beyond 6pm in the hope that luck might still smile on them.

One of the customers, who gave his name as Jimoh, said he was at one of the banks as early as 7:30 am.

Jimoh said security personnel informed him that the banks were shut due to fear of attacks.

In Ikare-Akoko, Akoko Northeast Local Government area, the situation was the same.

Ikare-Akoko serves as the commercial nerve of the four local government areas in Akokoland.

Farmers and traders who were in Ikare for banking transactions from distant places like Ikakumo Afin Ipesi Igasi and Eriall were disappointed.

A businessman, Sunday Omogboye, who came from Ikakumo to withdraw money, said many people were suffering in the villages due to a lack of cash.

The situation was a little different in Abuja where most banks opened their branches to customers. Only Zenith had many branches still locked.

Three things were, however, common among the bank branches: They paid out mostly mutilated old notes in the banking halls and closed before the official time.  

When The Nation visited the Wema Bank branch in the Central Business District, a large but orderly crowd was seen making withdrawals of old notes from its ATMs. 

In the banking hall, customers were paid N3,000 only over the counter in dirty N50 denominations.

At the Stanbic IBTC branch in the area, the ATMs were down but customers were allowed freely in the banking hall where they had a rare opportunity to withdraw as much as N25,000 in mutilated N50 notes.

At Garki Areas 7 and 8, the banks all had their fair share of crowds at the ATMs while the banking halls had few crowds transacting over the counter.

In Ibadan, Oyo State, banks did not work to their full capacity due to the scarcity of the new naira notes.

At the Sterling Bank branch in Agodi, Ibadan, all customers were allowed into the banking hall where the tellers rationed the amounts paid to them. 

But at the Access Bank branch in Bodija, customers that wanted to withdraw were not allowed into the banking ball.    

The few ATMs that worked in most parts of the city had hundreds of forlorn-looking customers in queues for hours.

Some of the customers lamented the hardship the scarcity of the naira had caused them.

Abimbola Onalaja said she arrived at the First Bank branch at Agodi, at 6:30 am and left around 4 pm without making a withdrawal through the ATM.

“I got here at 6.30 am, yet, I couldn’t collect a dime. Look at the time now. It’s 4 pm and I’m yet to eat anything. 

“The last money on me was what I used to come here, this hardship is getting too much.”

Residents of Osogbo, the Osun State capital, were stranded as banks failed to load their ATMs. 

ATM stands at Ogo-Oluwa, Station road, Fakunle, Igbonna, Power Line and Aregbe were deserted as they are not dispensing cash. 

Customers who came from distant locations could also not make withdrawals over the counter.

In Owerri, Imo State, many people waited for hours outside the banks’ premises for officials to open the doors to their banking halls.  

At Douglas Road, some of them complained that they were “tired of suffering”

One of the customers, Echesona Judex, said: “It is not really a good experience though it made our purchases reduce. We cannot go to the places we want to go or buy food items.”

Another was overheard in front of one of the banks threatening to burn it down if the officials did not allow him into the premises. At Shoprite along Egbu Road, all UBA ATMs did not work.

But Benin, Edo State residents had a breather as the CBN made available new notes to banks to dispense through their counters and ATMs.

Point of Sale (PoS) operators also started reducing their charges and paying new naira.

A customer, Maureen Douglas, was paid N20,000 across the counter. 

CBN’s Director of Risk Management from Abuja, Blaise Ijebor, and the Benin office branch Controller, Renner Jumbo, monitored the banks.  

The situation was also a bit smooth in parts of Jos, the Plateau State capital, where banks let in customers who were able to make withdrawals.

PRESIDENT Muhammadu Buhari has again drummed support for the presidential candidate of the ruling All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, describing him as his long term ally.

Speaking at the palace of the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, and at the APC rally in Sokoto, capital of Sokoto State, the President said Tinubu had demonstrated capacity, adding that he will do well if elected.

He said: “He understands Nigeria very well and he is ever supportive of people wherever they may have come from in Nigeria.

“I have gone with him to Nasarawa and Katsina and I am here with him today. I will also go with him to any other place. He is the candidate of our party. He emerged from a clearly transparent primary election. We therefore, have to follow him as the flagbearer of the party.”

Appealing to the Sultan for support, the president said: “We are here to seek support and help. I am sure we will get the needed help.”

President Buhari, who was visibly elated, expressed appreciation to the crowd for the rousing reception.

Some opposition party leaders, including top-ranking office holders in the Governor Aminu Tambuwal-led government, renounced their membership of the ruling Peoples Democratic Party (PDP) to pledge allegiance to the APC.

They were introduced by the Plateau State Governor Simon Lalong, in his capacity as the Chairman of the APC Presidential Campaign Council (PCC) and received by the party’s National Chairman Abdullahi Adamu.  

Presenting Tinubu to the electorate at the Giginya Memorial Stadium, the President urged them to support the APC candidate.

At both the palace and at the rally, Tinubu expressed appreciation to the leaders and people of Sokoto for the warm reception, promising to acquit himself creditably if given the mandate.

Describing Sokoto as a home for him, the APC candidate urged voters to disregard the antics of other candidates.

Tinubu said: “In 2015, the new leaders came to sweep the dirt away with a broom. But the dirt is still left on the ground. We said we need to clean some more. I applied to be the vacuum-cleaner so that we can clean the dirt.

 ”We promised we will work hard. We will eliminate corruption. We will eradicate the madness called kidnapping. We will work hard to clean Nigeria of rubbish.

“We promise you better education, job opportunities and better market for our agricultural produce that will make you and your children happy.”

Tinubu’s running mate, Senator Kashim Shettima, challenged PDP presidential candidate, Atiku Abubakar, to name eight projects he accomplished in the North and eight persons he mentored in his eight years as vice president.

He admonished the people to disregard the PDP’s sectional campaign that voters should vote one of their own, saying Atiku was only there for his pockets.

Speaking on why the North should vote for Tinubu, Shettima described him as a good man who has always stood by prominent sons of the region.

Quoting a Quranic verse, Shettima added: “The reward for goodness is goodness. He has supported many of our people from Shehu Musa Yar’Adua to Atiku Abubakar in 2007, Nuhu Ribadu in 2011, President Buhari in 2015 and in 2019. We are good people. We are trustworthy. He supported our people, it is our time to reciprocate.

“We should come together and acquit ourselves as people of honour who keep their words.”

Senate President Ahmad Lawan, House of Representatives Speaker Femi Gbajabiamila, Chairman of the Progressive Governors’ Forum Senator Atiku Bagudu and APC National Chairman Senator Abdullahi Adamu appealed to voters to back the APC candidates.

The duo said that Tinubu and Shettima, if elected, would deploy their experiences as former senators and governors in governance.

Tinubu and Shettima have legislative and executive experiences, the National Assembly leaders told the mammoth crowd of APC faithful.

The host and APC leader in Sokoto, Senator Aliyu Wamakko, assured both President Buhari and Asiwaju Tinubu of massive victory for the party at the polls.

He said the Sokoto APC had received many defectors who were dissatisfied with the PDP government in the state. Wamakko presented thousands of defectors into the APC, including a prominent philanthropist, Alhaji Umarun Kwabo AA (Jarman Sokoto).

Other dignitaries and party leaders who attended the rally included Governors Mohammed Badaru Abubakar (Jigawa) and Bello Matawalle (Zamfara) as well as former governors Saidu Dakin Gari (Kebbi), Abdulaziz Yari (Zamfara) and MA Abubakar (Bauchi).

Others were Minister of Police Affairs, Mohammed Maigari Dingyadi; Minister of Youths and Sports, Sunday Dare; APC Deputy National Chairman (North), Senator Abubakar Kyari, and members of the National Assembly.

The governorship candidate, Ahmed Aliyu Sokoto, said PDP had failed the people in all aspects of governance.

Sokoto said that Wamakko was the secret behind the sprawling wave of support the APC had in the state.

He added: “He has continued to woo unflinching support for the party been a man of the people with listening ears and easily accessible to all classes of persons.”

Sokoto said he would build on Wamakko’s legacies and improve the lots of the people by enhancing welfare, improving agricultural activities, education, skills acquisition, youths and women empowerment as well water supply and healthcare.

House of Representatives Speaker Femi Gbajabiamila said the strength of the APC was overwhelming, noting that Tinubu has the rare qualities to lead Nigeria.

Sultan Abubakar III declared that being an apolitical father of all and custodian of culture, he would continue to receive everyone that sought the blessing of the throne, telling President Buhari that many had come before him for the same purpose while many more would still come.

He said: “We will continue to pray for our nation. We cannot be tired of praying and will continue to advocate for peaceful and free elections in our fatherland.”

He assured President Buhari that the Caliphate was behind him as he sought to ensure free and fair elections, noting that the President’s commitment to be present at the next signing of the Peace Accord by the political parties, underscored his administration’s desire to bequeath to the nation a credible electoral process.

Senior lawyers yesterday said the Central Bank of Nigeria (CBN) was bound by the Supreme Court’s interim injunction restraining the Federal Government from enforcing today’s deadline to end the use of old naira notes.

There were speculations that the CBN, not being a party to the suit by Kaduna, Kogi and Zamfara states, may not be bound by the order or refuse to comply.

But, Senior Advocates of Nigeria (SANs), who spoke in separate interviews with our reporters, said complying with the order by the CBN was not optional.

Law teacher Wahab Shittu and activist-lawyer Femi Falana, both SANs, as well as a professor of International Law, Ademola Abass, said until the order is set aside, the CBN was bound to obey it.

But, another SAN, Chief Louis Alozie, believes the order was faulty.

Shittu said: “The Supreme Court is the highest in the land. Its orders are sacred because it is the final court.

“The question of compliance with its orders is not in dispute and certainly not an option. 

“However, this is an interim order. The merits of the case itself are yet to be determined.

“We should not jump on the merits of the case. We should also refrain from commentaries on the merits of the case because it is sub-judice. 

“However, orders made must be complied with by those affected, including the CBN.

“The Supreme Court is the repository of the law, and certainly, CBN is not above the law. No matter how big the CBN is, the law is bigger.”

Falana said it would be contemptuous for the CBN to show disregard for the rule of law.

The Interim Chairman of the Alliance for Surviving Covid-19 and Beyond (ASCAB), said in a statement: “It is pertinent to remind the management of the Central Bank of the case of Nkwo Augustine Eddiego v. Board of CBN (Suit No: HCIK/38/2022), where the Delta State High Court granted an ex parte order which restrained the defendants from preventing the CBN governor from seeking political offices pending the hearing and determination of the motion on notice in the case.

“Even though Mr. Emefiele was not a party to the suit, he took advantage of the ex-parte order to join the APC to contest the presidential primary of the APC before he was stopped by President Buhari.

“Similarly, in the case of Incorporated Trustees of the Forum for Accountability and Good Leadership v. Attorney-General of the Federation & Ors. (Suit No: FCT/HC/GAR/CV/41/2022) the High Court of the Federal Capital Territory granted an injunction restraining the State Security Services from arresting, investigating and prosecuting Mr. Emefiele for terrorism financing.

“Although he was not a party to the suit, Mr. Emefiele has not been arrested by the State Security Services based on the court order.

“Therefore, it is the height of arrogance of power for Mr. Emefiele to treat the ex parte of the Supreme Court with provocative contempt.

“In view of the looming anarchy in the country, we are compelled to draw the attention of the Central Bank management of the rule of law to the case of Attorney-General of Lagos State v. Attorney-General of the Federation (2005) 2 WRN 1 at 109 where Tobi JSC of blessed memory cautioned all authorities and persons.”

Falana quoted the jurist as admonishing all government functionaries to subject themselves to the due process of the law or approach the court with grievances.

Falana added: “It is public knowledge that the Federal Government has filed a preliminary objection challenging the jurisdiction of the Supreme Court to hear and determine the (states’) case…

“In the interim, the Federal Government of Nigeria and its agencies, including the CBN, are bound by the valid and subsisting ex-parte order of the Supreme Court of Nigeria until it is set aside by the same court.

“The alternative is to compound the ongoing anarchy and chaos in the land.”

Prof Abass said the CBN or any Federal agency affected by the Supreme Court order was bound to obey it.

He argued that it was inconsequential whether the CBN is a party to the suit filed by the three states or not. 

The don, who was a guest on Channels, said: “The effect of that order is that at least until the court can hear the substantive issues on February 15, you are bound to obey the court order.

“Whether the CBN was party to the case or not, the CBN is an agency of the Federal Government of Nigeria. 

“When a judgment is directed at the Federal Government of Nigeria it binds all the agencies of the government.”

He advised the CBN to approach the court to challenge the order if it feels aggrieved.

Abass added: “Whether you are CBN, INEC or anything, the law of this country binds you. 

“If you have any problem with the judgment of a court, you go back to the court. 

“You cannot begin to say you are not a party to the suit. CBN wasn’t party to the suit, yes, but its principal is the Federal Government of Nigeria.”

Addressing a claim that President Buhari is not the boss of the CBN, Abass said it was not a relevant argument.

“Whether the President of Nigeria is the boss of CBN or INEC, the truth is he is the President of the Federal Republic of Nigeria.

“He is at the apex and all these Federal parastatals are under the Federal Government which the President heads. It’s like what we call vicarious liability in law.”

But, Chief Alozie said the order was not binding on the CBN since it was not a party to the suit.

He said: “The CBN is not a party to that suit. A court order does not bind somebody who is not a party. Only parties to the suit are bound by an order.

“Banks are not agents of the Federal Government and they have not been sued in this case. They say they are suing the Federal Government through its agents, either CBN or commercial banks.

“Are commercial banks under the control of the Federal Government? They are not agents of the Federal Government. CBN is an autonomous entity. It has independence provided for by law.

“So, I don’t see how that suit can achieve many results. They should have gone to the Federal High Court where matters of banking and all these types of things – transactions and policies of CBN can be challenged. 

“They decided to circumvent the whole thing by going to the Supreme Court.

“I don’t think they sued in the proper forum and to that extent, the Supreme Court is lacking in jurisdiction. 

“That order was lacking in jurisdiction in my own view.”

Why we went to court, by Matawalle 

Zamfara Governor Bello Matawalle said he and his colleagues took the Federal Government to the Supreme Court over the new naira swap policy to save the country.

In a statement by his spokesman, Malam Zailani Bappa, the governor said those against their action and subsequent temporary triumph at the Supreme Court were misguided.

Following what he described as the uncouth comments trailing the decision, Matawalle carpeted the attacks as mere political vendetta.

He said: “I am fully convinced that those against our action and victory at the Supreme Court are either misguided or blinded by political chauvinism.

“I and my Kaduna and Kogi states counterparts found it necessary to approach the Supreme Court in order to save the economy of Nigeria from being plunged into more crises and to relieve the pains that ordinary Nigerians are experiencing in the face of scarcity of both the old and new naira notes.”

According to him, it was common sense to say that the CBN and commercial banks must make the new naira notes available for day-to-day business transactions before the old naira notes are declared illegal.

The governor expressed dismay at comments from his rivals, adding that political parties challenging the decision of the apex court do not have the country’s interest at heart.

“The decision of our wise and revered Supreme Court judges on this matter is the best way to address the current problem and its impending consequences at the moment.

“At this critical time of our transition, it is only patriotic for all of us to put political considerations aside and address the challenges at hand so that together, we can cross the bridge ahead of us,” Matawalle added.

Also, the National Vice Chairman (North West) of the APC, Malam Salihu Lukman, urged President Muhammadu Buhari to obey the injunction.

He believes by doing this, the President will demonstrate that he is truly a converted democrat and his democratic credentials will be further enhanced.

Lukman advised the President to identify with the plight of Nigerians and respect the ruling in line with his administration’s adherence to rule of law.

“As a converted democrat, which I believe he is, President Buhari needs to demonstrate that by respecting the Supreme Court ruling and direct the CBN to end the current madness that imposes Naira scarcity in the country and untold hardship for millions of Nigerians,” he said.

But, Edo State Governor, Godwin Obaseki, said not all 36 state governors were in support of the case.

In a statement by his media aide, Crusoe Osagie, the governor said: “We (Edo State government) are not a party to the suit instituted by the governments of Kaduna, Kogi and Zamfara States against the CBN’s policy.

“We take exemption to the claim by the Kaduna State Governor that the move by the three governments is backed by Nigeria’s 36 state governments.

“The currency swap policy, which is intricately linked to the cashless policy of the CBN, is aimed at promoting financial inclusion; preventing inducement of voters in elections; tackling corruption and money-laundering and checking ransom payments, among other cash-based financial infractions.”

•President signs Executive Order 14 to guide facilitation of smooth transition

President Muhammadu Buhari yesterday approved a Presidential Transition Council (PTC) in preparation for a smooth transition ahead of the forthcoming general election.

The PTC is headed by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha.

Also, President Buhari has signed the Executive Order Number 14 of 2023 on the Facilitation and Management of the Presidential Transitions.

These were contained in a statement by the Director of Information in the Office of the Secretary to the Government of the Federation (OSGF), Mr. Willie Bassey.

According to the statement, the new council, whose membership is drawn from various sectors of government, including heads of some security agencies, will be inaugurated by Boss Mustapha on February 14 at the Conference Hall of the OSGF.

“President Muhammadu Buhari has approved the establishment of a Presidential Transition Council for facilitating and managing the 2023 transition programme.

“Members of the committee are: Secretary to the Government of the Federation (Chairman); Head of the Civil Service of the Federation; and the Solicitor General of the Federation and Permanent Secretary in the Federal Ministry of Justice.

“Others are: Permanent Secretaries in the following ministries: Defence; Interior; Finance, Budget and National Planning; Foreign Affairs; Information and Culture; Federal Capital Territory Administration (FCTA); and Special Duties and Inter-Governmental Affairs.

“Others are: the Cabinet Affairs Office in the OSGF; the General Services Office in the OSGF; Economic and Political Affairs Office in the OSGF; and the State House.

“Also, included as parts of the Council are: the National Security Adviser (NSA); the Chief of Defense Staff (CDS); the Inspector General of Police (IGP); the Director General, National Intelligence Agency (NIA); the Director General, State Security Services (SSS); the Chief Registrar of the Supreme Court of Nigeria; and two representatives, to be nominated by the President-elect.

“The Transition Council will be inaugurated by the SGF on Tuesday, February 14, 2023, at noon at the Conference Hall of the OSGF.

“Members are expected to attend the inauguration in person,” the statement said.

It added: “Also, the President has signed the Executive Order Number 14 of 2023 on the Facilitation and Management of the Presidential Transitions.

“A key feature of the Presidential Executive Order Number 14 of 2023 is the institutionalisation of a legal framework that would enable a seamless transition of power from one Presidential Administration to another, which is part of President Buhari’s legacy.”

The Economic and Financial Crimes Commission (EFCC) has appealed the ruling of a Kogi State High Court that ordered the remand of its Chairman, Abdulrasheed Bawa, for contempt.

The anti-graft agency, in a statement yesterday, said it had filed a stay of execution of the orders issued by the Kogi court.

On February 6, the state High Court ordered that Bawa be remanded at the Kuje Correctional Centre for contempt of court.

The presiding judge, Justice R. O. Ayoola, also ordered the Inspector General of Police (IGP) to ensure the committal order was executed, just as he awarded N10 million against the EFCC.

The committal order was issued over a case involving Ali Bello, identified as a nephew of Kogi State Governor Yahaya Bello, and the anti-graft agency.