Category: Lead

Kano Governor Abdullahi Umar Ganduje has accused the Central Bank of Nigeria (CBN) Governor Godwin Emefiele of using the untimely implementation of the naira swap policy as a fightback strategy for failing to get the presidential ticket of the ruling All Progressives Congress (APC).

Ganduje, who unveiled the gubernatorial candidate and other APC candidates to the masses, stated this at a campaign rally in Tsanyawa, Kano.  

He noted that the CBN Governor was out to sabotage the success of the ruling party’s presidential candidate, Asiwaju Bola Ahmad Tinubu.

At the palaces of the District Heads of Kunchi and Tsanyawa local governments, the Governor urged community leaders to create awareness within their jurisdictions to “let people know that the hardship people facing is singlehandedly caused by the CBN governor, to purposely cause confusion in our democratic process.

“The CBN Governor is only doing this to cause confusion in the forthcoming elections for not just reason.

“He has not been in good mood for long because he failed to secure a presidential ticket on the platform of our great party, the APC.

Read Also: Ganduje: 24 councils in Kano don’t have banks

“Currency redesign is done across the globe, but not in the way we are witnessing in our country. The timing is wrong, the deadline given is very wrong and deliberate,” Ganduje said.

The Governor said the Kano State Government and APC in the State are totally against the CBN Governor’s action.

Ganduje said the Kano State Government will invite bank managers in the state to explain why there growing scarcity of banknotes, as part of measures to cushion the effects of the hardship caused by the naira swap.

“We will summon bank managers very soon to interrogate them on the shortage of new naira notes in banks.

“They should come over and explain to us, why our people are still suffering over this issue of Naira Swap. And I will go to them individually to supervise what is happening and why,” he said.

Three States – Kaduna, Kogi and Zamfara – have asked the Supreme Court to order the immediate suspension of the demonetisation policy of the Federal Government being executed through the Central Bank of Nigeria (CBN) under the directive of President Muhammadu Buhari until it complies with relevant provisions of the law.

The request forms part of the reliefs being sought in a suit jointly filed by the three States through their Attorneys General.

The States, in an originating summons filed on February 3 by a team of lawyers led by Abdulhakeem Mustapha (SAN), raised four questions for the court’s determination.

They also, in the suit marked: SC/CV/162/2023 want the apex court to make the following declarations:

*That the demonitisation policy being currently carried out by the CBN under the directive of the President is not in compliance with the extant provisions of the Constitution, Central Bank of Nigeria Act, 2007 and extant laws on the subject.

*that the three-month notice given by the Federal Government through the CBN, under the directive of the President, the expiration of which will render the old banknotes inadmissible as legal tender, is in gross violation of the provisions of Section 20(3) of the Central Bank of Nigeria Act 2007 which specifies that reasonable notice must be given before such a policy.

Read Also : Naira redesign: Hope PSBank activates community inclusion initiative

*that in view of the express provisions of Section 20(3) of the Central Bank of Nigeria Act 2007, the Federal Government, through the CBN, has no powers to issue a timeline for the acceptance and redeeming of banknotes issued by the Bank, except as limited by Section 22(1) of the CBN Act 2007, and the Central Bank shall at all times redeem its bank notes.

The three states filed along with the originating summons, a motion for an injunction, in which they are praying restraining the Fed Govt and it’s agents, including the CBN, and commercial banks, among others, “from suspending or determining or ending on the 10th of February 2023 the timeframe within which the now older versions of the 200, 500 and 1000 denominations of the naira may no longer be legal tender pending the hearing and determination of the substantive suit.”

They stated that the grounds on which they are seeking the injunction include that, “since the announcement of the new naira note policy, there has been an acute shortage in the supply of the new naira notes in Kaduna, Kogi and Zamfara States. Citizens who have dutifully deposited their old naira notes have increasingly found it difficult and sometimes next to impossible to access new naira notes in order to go about their daily activities.

“This inadequacy of the notice coupled with the haphazard, cack-handed manner the exercise is being carried out and the attendant hardship same is wrecking on Nigerians (and this includes citizens of Kaduna, Kogi and Zamfara States of Nigeria) has been well acknowledged even by the Federal Government of Nigeria itself.

“The Naira (whether old or new) is scarce.”

The plaintiffs also filed a motion for abridgement of time to five days from the date of service within which the defendant, the Attorney General of the Federation (AGF) could file a response to the suit.

The states added, in a supporting affidavit, that “contrary to the requirement for the naira redesign policy to be implemented within a reasonable time frame, the Federal Government of Nigeria has embarked on the policy within an unreasonable and unworkable time frame and this has adversely affected Nigerian citizens within Kaduna, Kogi and Zamfara states as well as their governments, especially as the newly redesigned naira notes are simply not available for use by the people as well as the state governments.

“Government activities and services requiring the use of cash have been adversely affected on account of the massive cash shortage thus making it difficult for the government to effectively operate.

“People in the P
Plaintiff states (Kaduna, Kogi and Zamfara) have been deprived of their right to access their hard-earned money from their bank accounts having deposited their old naira notes with the banks.

“The people cannot access funds to purchase basic necessities such as food, transportation, health care, etc.

“As for the majority of the indigenes of the Plaintiffs’ states who reside in the rural areas, they have been unable to exchange or deposit their old naira notes as there are no banks in the rural areas where the majority of the population of the states actually reside.

“The majority of people in rural areas of the Plaintiffs’ states do not have bank accounts and have so far been unable to deposit their life savings which are still in the old naira notes.

“Economic activities in the plaintiffs’ states have grounded to a halt as people in the various states have no money to trade with and this is adversely affecting the states’ revenue as taxes that would accrue to the states on account of the various economic activities in the states are no longer forthcoming.

“There is restiveness amongst the people in the various states on account of the hardship being suffered by the people and the situation will sooner than later degenerate into the breakdown of law and order.

“Critical stakeholders have had reasons to communicate their concerns to the Federal Government on account of the challenges and hardship being experienced by Nigerians as result the naira exchange policy.

“The Nigerian Bar Association via a letter dated 23rd January 2023, addressed to the Governor of the Central Bank of Nigeria, have expressed its concerns regarding the implementation of the said policy.

“The plaintiff state governments cannot stand by as they are duty-bound to protect citizens in their states and prevent the breakdown of law and order in the states.

“There is no justifiable basis for the ongoing difficulty and suffering being meted out on the governments and good people of Kaduna, Kogi and Zamfara State by the Federal Government.

“If sufficient and reasonable time had been given by the Federal Government of Nigeria for the naira redesign policy, all the current hardship and loss being experienced by the Plaintiffs’ State Governments as well as people in the various states would have been avoided.

“Owing to the hardship occasioned by the short and unreasonable notice by the Federal Government on the implementation of the naira redesign policy, the Senate of the Federal Republic of Nigeria whilst inter alia acknowledging the shortage of the new naira notes, had reason to pass a resolution for extension of the time frame for implementation of the policy until the 31st of July, 2023.

“On account of the hardship being experienced by Nigerians as a result of the short length of the notice for the implementation of the new naira redesign policy by the Federal Government, the Federal Government through the CBN on the 29th of January 2023, announced a 10-day extension of the implementation period, to last until the 10th of February 2023.

“By the further extension, the old naira notes would lose their legal tender status by 10th February 2023, while a further seven-day grace period was purportedly given as the deadline for the deposit of the old naira notes.

“The 10-day extension by the Federal Government is still insufficient to address the challenges bedevilling the policy.

“The Federal Government cannot bar Nigerians from redeeming their old naira notes at any point in time, despite the fact that the old notes are no longer legal tender.

“Unless this honourable court intervenes, the governments and people of Kaduna, Kogi and Zamfara states will continue to go through a lot of hardship and would ultimately suffer great loss as a result of the insufficient and unreasonable time within which the Federal Government is embarking on the ongoing currency redesign policy.”

In a split decision of three-to-two, the Supreme Court on Monday affirmed the nomination of the Senate President Ahmad Lawan as the candidate of the All Progressives Congress (APC) for Yobe North Senatorial District for the 25 February general election.

In the lead majority judgment, Justice Centus Nweze held that Lawan’s major challenger, Bashir Machina was wrong to have commenced his suit at the trial court via a writ of summons in view of his allegations that the APC acted fraudulently in transmitting Lawan’s name to the Independent National Electoral Commission (INEC) as it’s candidate.

Read Also: Yobe North APC ticket: Lawan know fate February 6

Justice Nweze held the earlier decisions of the Federal High Court in Yobe and the subsequent one Court of Appeal in Abuja, affirming Machina as the APC candidate for Yobe North “were perverse and must be set aside.”

In his lead dissenting opinion Justice Adamu Jauro faulted the APC’s primary held on June 9, 2022,from which Lawan emerged as the party’s candidate.

Justice Jauro dismissed the appeal by the APC and awarded a cost of N3m against the party and in favour of Machina.

Details shortly…

Security operatives on Monday stopped the gathering of protesters against scarcity of new naira notes, fuel and epileptic power supply in Ibadan, the Oyo State capital.

Hundreds of the protesters, who gathered in front of University of Ibadan (UI), carried placards with various inscriptions against the naira swap policy. 

No fewer than 15 patrol vans of men of Police, Nigeria Security and Civil Defence Corps (NSCDC), Army and Amotekun Corps stationed in front of UI to forestall break down of law and order.

Read Also: Naira, fuel protest turns bloody as soldiers kill one in Ibadan

The protesters were dismantled and stopped from blocking the road, which forced them to vacate the scene of the protest.

One of the protesters, Com Lekan Adisa from “Take it Back Movement” of Oyo State said: “Enough is enough, this hardship must stop, the security men are intimidating us with their ammunition, the numbers of security here is more than the protesters.”

He however said they are not used by any political party, saying government always looks for excuse to cover up their lapses.

Protesters last Friday vented their anger on many innocent residents of the city.

Some parts of the city rocked by pockets of crisis include: Monatan, Iwo Road, Agodi, NTA-Junction, Beere, Oje, Customs-Federal Secretariat Road, Bodija among others.

The protesters, who were armed with dangerous weapons, including cutlass, axes, broken bottles, cudgel, plank, among others used them freely on innocent residents.

The protesters made bonfire, barricades and destroyed police stands at almost every junction they passed through during the protest.

Gunmen have reportedly killed a retired Police officer and two others at Maiyanga community in Bokkos Local Government Area of Plateau State.

Our correspondent also gathered that two persons sustained gun shot injuries and are receiving treatment in a hospital in the State.

Read Also: Five die, seven injured in Plateau mine collapse

A community leader, who preferred anonymity, said the gunmen invaded the Plateau community and started shooting sporadically on Sunday night.

• ‘It’s ill-conceived, not well-thought-out, poorly-timed’
•Reps likely to cut recess, says Gbajabiamila
•We are not hoarding cash, banks tell CBN

The naira redesign introduced by the Central Bank of Nigeria (CBN) continued to generate controversy at the weekend.

Former Edo State Governor Adams Oshiomhole described the policy, the implementation of which started in January, as one designed to scuttle the elections scheduled for February 25 and March 11.

“It (policy) is ill-conceived, not well-thought-out and poorly timed,” Oshiomhole said.

The former Nigeria Labour Congress (NLC) President accused the CBN Governor, Godwin Emefiele, of taking advantage of President Muhammadu Buhari’s anti-corruption posture to pit him against Nigerians.

Oshiomhole spoke yesterday on a Channels Television programme, ‘The 2023 Verdict’.

Also yesterday, members of the House of Representatives threatened to cut their recess, should the scarcity of the new naira notes persist.

Speaker Femi Gbajabiamila, who dropped the hint in Lagos, said members of the Green Chambers will continue to monitor the policy implementation.

According to the Speaker, the House may reconvene before the February 25 Presidential and National Assembly elections, if the CBN failed to address the hardship being faced by Nigerians as a result of the currency swap policy.

The CBN had introduced N1000, N500 and N200 notes and set a February 10 deadline to rest the old bills.

But the policy threw Nigerians into hardship following the cash crunch at the banking halls and Automated Teller Machines (ATMs).

Faulting the policy, Oshiomhole, who is a former National Chairman of the All Progressives Congress (APC), said the policy was unilaterally conceived by Emefiele to deceive the President.

He said: “I am sorry to say that it is not a secret that he wanted to contest for the APC presidential ticket. 

“He bought N100 million APC nomination form and the President directed that all those who wanted to contest for the presidential ticket should resign their appointments.

“I remember that during that time he went to the Villa, I believe, he went to consult and when they asked him if he had been cleared to proceed on his political ambition, he said, there will be big news soon.

“The only news we have heard is this change of currency. We have not heard the news of why he didn’t proceed with his political ambition.

“We didn’t hear anything from him. The only news we heard is the naira redesign. Emefiele could have chosen a policy that will discredit the party.

“And unfortunately, everybody knows that President Buhari’s constituency in Nigeria is the army of the poor.  

“The elite have never supported him. And it is these poor people who are hit the most by this policy.

“When you talk about vote buying, we have moved from a situation that all you need is to compromise the police and the INEC, then, you write the results and they are declared and you start balancing the ballot paper later.

“You can see that the tension in the bank is not to eliminate abuses, but to prevent the election from taking place.

“The policy will hurt the election process as the INEC will have to revise its budget as the allocated funds to buy PMS and to bring election materials cannot meet that need now.

“It is in that context that whoever scuttles the election would have scuttled the chances of the APC winning the election.

“I am happy that the National Assembly captured the mood of the people. This is because what separates dictatorship and democracy is the presence of the parliament.

“They live and represent 360 constituencies across the 774 local government areas in Nigeria. They are in touch with their people and they have spoken”.

On the redesigning of the naira, Oshiomhole said: “I believe that Emefiele, knowing the posture of the President against corruption, used that to achieve other objectives.”

The former Labour leader also backed allegations by Kaduna State Governor Malam Nasir El-Rufai that some cabal in the State House have colluded to de-market the ruling party.

He said: “Talking about elements in the Villa, I like to speak to faces, though some people may not like that. I will not want to talk about elements, but I prefer to mention names.

“He (Emefiele) has cited his powers under the law. He didn’t say he was acting under pressure. So, I believe him.

“I, therefore, make bold to say that the decision is a product of his own womb; it is ill-conceived, not well-thought out and poorly-timed to create this hardship.”

•Warn electorate against parties with ethnic agenda

•Reaffirms support for Tinubu

A northern socio-political organisation, the Northern Elders Council (NEC) has urged the Federal Government to handle preparations for the forthcoming general elections with caution in order to ensure a rancour-free and transparent exercise.

It warned against the activities of those it described as non-state actors within the corridors of power, whose intents, it noted, are not just to feather their nests, but will stop at nothing to use their closeness to leadership to unleash chaos and derail the electoral process, for their selfish gains.

It warned the President Muhammadu Buhari-led administration to be wary of such elements.

The socio-political association, which is led by 98-year-old elder statesman, Mallam Tanko Yakasai also enjoined Nigerians to be careful in their choices by not falling for the traps of groups and political parties running ethnic agendas, as well as those parading candidates with the blemishes of corruption on their identity.

In a statement, NEC said just like it has done in the past, it has taken stock of developments around the nation’s political space and would be joining forces with progressive elements to ensure Nigerians do not get it wrong at the coming polls.

The group, which said it sticks with the position of its leader, Mallam Yakasai, who had weeks ago expressed his support for the presidential candidate of the ruling All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, said it would be making more policy statements on the state of the nation in coming days, after its next congress.

The statement, by its chairman, Mallam Yakasai said: “NEC, at all times, will not shy away from its commitment to peace, unity, and stability of Nigeria. NEC’s power is invested in elected people who hold it in trust for the electorate.

“People who, out of consanguinity ties, friendship loyalties, or privileged proximity to elected public officials, abuse power, must be rejected and prevented from subverting the popular will of people’s choices during elections.

“Corruption is not only about monetary and unfettered access to the state treasury. It also includes peddling in influence by a handful of non-state actors in the corridors of power, seeking to foster chaos to derail democratic transitions, as enshrined in the constitution. We must resolutely reject that in this country.

“Northern Elders Council, under the leadership of Mallam Tanko Yakasai, in this regard, appeals to the Federal Government to be mindful of its onerous responsibility for organized, rancour-free and transparent elections, as a lasting legacy in promoting the sanctity of democratic rule.

“NEC has made an unequivocal statement and principled declaration of its support for Asiwaju Bola Ahmed Tinubu as its presidential candidate for the forthcoming presidential election.

“The congress of NEC will shortly meet and make public, more policy statements on the State of the Nation.”

Meanwhile, the group commended President Buhari for boldly professing his support for his party’s presidential candidate, Asiwaju Tinubu, during the party’s presidential campaign rally in Lafia, Nasarawa State last Saturday, describing the outing as a masterstroke that will send the right signal, not just to the faithful of the ruling party, but to all Nigerians, allowing all to see that there are no cracks within the ruling party.

House of Representatives Speaker Femi Gbajabiamila yesterday hinted that holidaying members of the House might reconvene if the scarcity of naira persisted.

The House, which went on a break on Tuesday to enable members to participate in the elections, is expected to officially resume on February 28.

“We are watching, and we are monitoring very closely. If need be, we will reconvene the House, even though we’ve all been away for our elections. I will call the House back if need be,” Gbajabiamila said at a town hall meeting in Lagos.

He had the town hall meeting with some ethnic groups in his Surulere 1 Federal Constituency.

The Speaker added that he would have issued an arrest warrant for Central Bank Governor Godwin Emefiele, if he had failed to appear before the House six days ago.

The Speaker said the House was miffed by  Emefiele’s failure to appear before it the first time he was invited to answer  ”hard questions” on the scarcity which has thrown Nigerians into hardship.  

His words:   ”The House of Representatives intervened on several occasions. We summoned the CBN governor the first time and again, but he refused to answer because we had many hard questions for him.

“It was until I issued the threat of warrant of arrest before he came, and I would’ve signed that warrant; it would’ve been the first time in the history of the National Assembly that a CBN governor would be arrested. I would’ve done it.

“Many have argued on the independence of CBN, the autonomy of CBN. That does not make CBN above the law.“  

 He, however,   told the constituents that the concern expressed by the All Progressives Congress(APC)   presidential candidate,    Asiwaju Bola   Tinubu,  led to the extension of the deadline for the currency swap.

Noting that “many (Nigerians) are suffering,” the Speaker told the gathering that Tinubu “came out boldly and identified the problem.”

He dismissed those insinuating that  Tinubu was referring to President Muhammadu Buhari when he talked about fifth columnists in the Presidency.

Gbajabiamila added: “The President, being the compassionate person that he is, has asked for a few more days to look at everything that is going on and see if anything could change.

“We pray that things will change. If nothing changes, we will intervene again, but be sure of one thing. Asiwaju Bola Ahmed Tinubu stands with you and stands with Nigerians in their suffering.”

*Banks: we are not hoarding cash  

Meanwhile, banks have said they are not hoarding new notes or engaging in any act inimical to the free flow of cash in the system.

Central Bank of Nigeria(CBN) Governor  Godwin Emefiele had on January 31   blamed the banks for the scarcity of new notes.

Emefiele had said: “Many of us have unfortunately seen the new naira, instead of being used for the purpose it’s meant, is used in parties, in celebrations.

“What we saw being stamped on people at parties were packages of the new naira notes which means they (banks) had breached certain aspects of the guidance note we gave to them.”

The banks denial came as sources in the Economic and Financial Crimes Commission (EFCC)and the Independent Corrupt Practices and other related Offences  Commission(ICPC) confirmed to The Nation that 18 bank officials and Point of Service(POS)  agents had been arrested for selling new notes in Osun State and Abuja.

The sources said those arrested in two different banks comprised a head of operations, a branch service head and a security guard.     The rest are POS agents.

The banks, in a statement yesterday by the Association of Corporate Affairs Managers of Banks (ACAMB), restated their commitment to making the new cashless policy of the CBN succeed.

ACAMB  also   announced   additional   measures to manage the stem the challenges faced by people in  accessing cash

The measures include the deployment of extra technical support for online payments, additional security at ATMs to ensure all-clock usage, technological back-up to reduce online downtime,    additional deployment of officials to counters and timely interbank and inter-branch networking to bridge any gap.

ACAMB urged the Nigerian banking public to exercise patience and not to resort to any untoward behaviour against bank officials or banking facilities.

“Nigerian banks, majority of which are publicly quoted, are owned by millions of Nigerians and provide employment to several millions of staff, who work 24/7 to ensure that the generality of Nigerians has reliable and secured globally competitive banking services,” it stated.

The association added that banks had invested more than N100 billion in the recent period to digitize their operations in furtherance of the cashless and financial inclusion policies of the CBN.

Earlier,    Group Managing Director,  United Bank for Africa (UBA) Plc,  Oliver Chukwudum Alawuba,  described the naira redesign as the best thing that could happen to the  Nigerian economy at this time.

He assured that banks were working assiduously with the  CBN to erase the hardship faced by Nigerians in accessing naira notes.

“The redesign of the naira is a positive policy that will support the economy in the long run. It’s true that we are passing through a transition period and I believe that the CBN is working with Deposit Money Banks (DMBs) to make sure that the aspiration and purpose of the redesign come to fruition for the good of the country,” Alawuba said in Owerri, Imo State.   

In Jos, Plateau State Governor  Simon Lalong pleaded with residents to forgive the government for the challenges in having access to cash.

The governor made the plea at an interdenominational service at St. Monica Catholic Church, Jos, to mark the 2023 Plateau Forgiveness Day.

He said that the situation had been of concern to governors.

Also yesterday, the  Northwest Tinubu/ Shettima Campaign Support Group threw its weight behind Governor Nasir El-Rufai’s claim that some elements in the Presidency were working against the APC.

The director of the Group, Bappa Babba-Danagundi, made the position of the group known while speaking to newsmen in Kano on Sunday.

The scarcity of the naira notes continued unabated across the country yesterday.

From Lagos to Kano, Plateau, Osun, Oyo and Federal Capital Territory (FCT) among others, queues stretched beyond immediate banking environments at the ATMs.

Point of Sales (PoS) agents charged as high as a 500 per cent increase on their normal charge before the scarcity.

The effects of the naira scarcity have weighed on businesses, especially small ones as both customers and service providers lamented their frustrations. 

From Muyiwa Lucas, Assistant Editor, Lagos; Kolade Adeyemi, Jos; John Ofikhenua, Abuja; Fanen Ihyongo, Kano; Augustine Okezie, Katsina; Bisi Oladele, Yinka Adeniran, Ibadan
and Mike Odiegwu, Port Harcourt

There is no breathing space for Nigerians as the scarcities of petrol and new naira bit harder across the country at the weekend.

Things may yet get worse. The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday said it would shut down its filling stations from midnight.

Last week, the Nigerian National Petroleum Company Limited (NNPCL), Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), IPMAN, Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) and security agencies agreed that petrol be sold at N195/litre depending on the location. Enforcement of this agreement begins today.

But, IPMAN, at the weekend, urged its members not to purchase petrol which they would not be able to dispense at the N195/litre price.

The approved ex-depot price of petrol was raised from N148/litre by the NNPCL to N172/litre, but depots hardly dispense the commodity to independent marketers at this rate.

The directive, issued and signed by IPMAN’s Public Relations Officer, Ibadan depot, Mojeed Adesope, reads in part: “Distinguished marketers: enforcement exercise will commence effective from Monday, 6th February 2023.

“Members are hereby implored not to purchase product(s) that they would not be able to dispense at N195/litre.

“The above information should be given wider spread/circulation in order not to get any member caught unaware. You are strongly advised to heed this information.”

IPMAN National Operations Controller, Mike Osatuyi, told The Nation that as long as the NNPCL has not fulfilled the December 8, 2022 agreement, it would be impossible for IPMAN members to sell petrol at government regulated price because they do not buy the product at the regulated price at the depots.

He said: “Our December 8, 2022 agreement with NNPCL and other stakeholders was that IPMAN should be given petrol at the official ex-depot price.

“So, if they are insisting on N195 per litre, then no problem. It’s better we don’t buy the product because we cannot sell at a loss; nobody is in business to make a loss.”

He regretted that with NNPCL’s depot now moribund, IPMAN depends on DAPPMAN depots for supply.

Scarcity bites harder

In many petrol stations that had the product in Lagos, attendants demanded payment only in cash, with the excuse that their Point of Sale (PoS) machines were out of service.

Some sold currency or referred desperate customers to PoS agents who charged crazy amounts to sell the naira.

At the Conoil filling station at National Bustop in Ikeja, attendants said they only accept cash payments.

Frustration was etched on the faces of many cash-less customers who had been in the queue for hours only to be told the PoS was not available.

A resident was forced to withdraw N10,00 from a nearby PoS agent for N2,000.

Our reporter arrived at a local NNPCL outlet as early as 5 am but did not get the product to buy until 11.15 am.

The queues have kept lengthening by the day across Lagos. 

NLC threatens strike in Rivers

The Rivers State chapter of the Nigerian Labour Congress (NLC) threatened to order all civil servants in the state to down tools of the current fuel and naira scarcities continue.

The NLC Chairperson and Governorship Candidate of the Labour Party in Rivers, Mrs. Beatrice Itubo, said it would be impracticable for workers to survive the economic crises.

She said: “We have declared a sit-at-home for all workers in Rivers state from Monday till further notice if the fuel crisis and crazy transportation fare hike continues.

“Anyone or organisation who queries or sacks any worker who observes the sit-at-home declared will have the NLC Rivers State Council to contend with.

“This is not targeted to anyone or targeted to the Rivers State Government. We are reacting to the situation we find ourselves in as Nigerian workers.”

Anguish in Kano, Plateau, Oyo

In Jos, the Plateau State capital, most petrol stations were locked.

Most NNPC mega stations did not have the product, except the one at Zaramaganda roundabout, which had a long queue but was yet to start settling as of 10 am.

A motorist, Isaac Moses, said: “I got information last night that this station will get fuel today (yesterday).

“That was why I came here by 5am. This 10am, we are still waiting. You can see the queue.”

Another resident, Barnabas Jibam, said: “The worst of our situation is that you can wait the whole day and you get no fuel. 

“Our frustration is no information is coming from anyone, you are just on your own in the queue.”

Governor Simon Lalong pleaded with residents to forgive the government over the current hardships caused by petrol and naira scarcities.

Speaking during an interdenominational service at St. Monica Catholic Church, Jos, to mark the 2023 Plateau Forgiveness Day, he said: “On behalf of all of us, we apologise for the pain being inflicted on the society and we ask for forgiveness.”

The situation was the same in Kano.

A resident, Usman Ali, said he would not bother going to a filling station until petrol becomes available.

He said he preferred to buy a litre between N400 to N450 from hawkers.

Ali said: “The day I insisted I would buy the product for N185 per litre at a major marketer’s filling station, I didn’t do anything that day.

“It was so bad that despite spending a whole day in the queue, I went home without petrol. It had not gotten to my turn when they said fuel had finished.”

A litre of fuel is sold at N310 to N350 in filling stations by independent marketers. Hawkers are selling a litre at between N400 and N450 in the black market.

Major marketers like Aliko and AA Rano, sell at N185 per litre, but they hardly sell the product.

In Katsina, filling stations belonging to independent marketers had no queues while queues were seen at NNPC and major market stations.   

While independent marketers sold at N360 per litre, major marketers sold at N190 per litre.

In Ibadan, the Oyo State capital city, where a riot broke out over naira scarcity, most petrol stations were deserted and placed under lock and keys yesterday.

Most major and independent marketers had their filling stations closed with claims of having no petroleum products to sell.

From Alakia to Iwo-Road, Monatan, Iyana Church, Olodo, Idi-Ape, Bashorun axis, Agodi-Gate, Mokola, Dugbe, 110, Akinyemi, Town Planning, Ring Road and Oke Ado, it was the same story.

Major marketers did not open for business.

Tank farm owners to load 126m litres

There may be a ray of hope as Ijegun-Egba Tankfarm Owners and Operators Association has said its members will truck out 126 million litres of petrol this month.

The chairman, Mr. Adebowale Olujimi, in a communique, said all the operators will ensure the products are conveyed and discharged into their facilities without delay.

He added that the tank farms will continue to sell and load the product at the “government-regulated price of N172 Ex Depot to all marketers.”

Olujimi said the association will ensure its members’ retail outlets across the nation will continue to sell petroleum products at the government-approved price.

“We will work 24 hours to achieve the objective(s) of making petroleum products, especially PMS available to Nigerians across the nation,” he said.

Olujimi said the association comprised oil companies engaged in the operation of petroleum storage tank farms and facilities at Ijegun-Egba, Satellite Town, along the Ojo Creek Channel in Lagos.

Speaker of the House of Representatives, Rep. Femi Gbajabiamila has said he would have signed a warrant for the arrest of the Governor of the Central Bank, Godwin Emiefele if he had not honoured the invitation of the House concerning the current scarcity of the new naira notes.

Gbajabiamila, who spoke Sunday at a town hall meeting with some ethnic groups in his constituency, added that the House will continue to monitor the implementation of the policy by the CBN and may have no option than to cut short their break if the scarcity persist.

The Speaker said the House may reconvene before the February 25 National Assembly elections if the Central Bank of Nigeria (CBN) failed to address the hardships Nigerians are facing due to the currency swap policy.

Gbajabiamila said he was on the verge of signing an arrest warrant against Emefiele following his initial failure to appear before an ad hoc panel of the House, saying “the House of Representatives intervened on several occasions. We summoned the CBN governor the first time and again, but he refused to answer, because we had many hard questions for him.

“It was until I issued the threat of warrant of arrest before he came, and I would’ve signed that warrant; it would’ve been the first time in the history of National Assembly that a CBN governor would be arrested. I would’ve done it.

“Many have argued on the independence of CBN, the autonomy of CBN. That does not make CBN above the law. The constitution gives the House the power to issue an arrest warrant against anyone, we can summon anybody, and that was exactly what the House was going to do until the CBN governor came.

“So, we are watching, and we are monitoring very closely. If need be, we will reconvene the House, even though we’ve all been away for our elections. I will call the House back, if need be.”

He said the presidential candidate of the APC, Asiwaju Bola Ahmed Tinubu has identified with Nigerians amidst the hardship and faulted the implementation of the policy at this time, which necessitated the extension of the deadline for the collection of the old currency.

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He said “On the currency swap, let me explain something to you. We are all very intelligent people. Many are suffering, we have paid your salary, and you cannot withdraw it; people cannot eat; what kind of thing is that?

“But I have news for you. There’s one man who is running for president of this country, and that man has courage and audacity. This man came out boldly and identified the problem, that the fifth columnists, in cooperation with the PDP are the ones trying to sabotage this election.

“Many have said he’s talking about Buhari, but he told them ‘no, I’m not talking about Buhari; I’m talking about fifth columnists.’ If you don’t know the meaning of fifth columnists, go and check your dictionary. Fifth columnists infiltrate people, they even infiltrate families, otherwise how do you explain this type of policy?

“The president, being a compassionate person that he is, has asked for a few more days to look at everything that is going on and see if anything could change. We pray that things will change. If nothing changes, we will intervene again, but be sure of one thing. Asiwaju Bola Ahmed Tinubu stands with you and stands with Nigerians in their suffering.

“He was the first to shout that what is going on? He has cried, he has begged, he has screamed that people are suffering, what did the PDP candidate say? He said, ‘no, CBN don’t listen to them; you must not extend this thing; let people continue to suffer.’ That is what the PDP candidate said. He said it publicly.

“So, you have the tale of two presidential candidates: one who stands with the people and says this currency swap must stop; the second one says,’ no, it cannot stop, it’s a good policy. CBN, don’t listen to him. Let the people continue to suffer.’ I leave the rest to you to determine who is with you and who is against you.”