Category: Lead

  • PDP lied on alleged stoning of Buhari’s helicopter in Kano – Presidency

    PDP lied on alleged stoning of Buhari’s helicopter in Kano – Presidency

    The Presidency has described the spreading narrative of stone-pelting attack on President Muhammadu Buhari‘s helicopter in Kano State as an attempt by the opposition People’s Democratic Party (PDP) to mislead the public on facts of the incident.

    Some news outlets and mostly social media platforms had reported that angry residents hailed stones at one of the helicopters that carried some members of the President’s entourage when he visited Kano State on a day state visit on Monday.

    However, reacting to the incident, the Presidency said the narrative was wrong as Buhari was already being hosted to banquet at the Kano State Government House at the time of the incident, alleging further that the sponsors of the narrative were hoping to use it to drive a wedge between government and the ruling party.

    According to a statement by Senior Special Assistant to the President on Media and Publicity, the facts of reported incident, as provided by law enforcement agencies, were that it was a clash between the Kano Road Transport Authority (KAROTA)  and thugs hired by a yet-to-be identified group.

    The Presidency, however, berated the opposition party for celebrating a breakdown of public order, even though it was minor.

    “We have seen fake reports of stone-pelting incident that took place at Hotoro area of Kano on the day of the visit to the city by President Muhammadu Buhari on Monday, an incident, even if minor, that should stand condemned by all well-meaning citizens.

    “Facts on ground, as rendered by the law enforcement agencies, speak of a clash between the local road transport authorities, the Kano Road Transport Authority (KAROTA)  and thugs hired by a yet-to-be identified group, that took place when the President was being treated to a banquet at the Government House, well after he had finished his projects commissioning.

    Read Also: ‘Buhari/Tinubu synergy will help APC win election’

    “The President was in the state to work the development, safety and security of the lives of common citizens and the happy thing about it was that the good people of Kano State were appreciative of him for the progress the state and the nation at large are making under him. 

    “The divisive rhetoric of an opposition in a futile attempt to malign the image of the President and the candidates of the All Progressives Congress in the coming elections, and its desperate wedge-driving activities to cause a division between the party and the government is not what will give them victory.

    “A so-called leading opposition party that controls 14 states, going into elections with eight or nine of the states in tow should look inwards to see why their campaign is flagging and destined to fail. Their defeat is a story foretold by many discerning individuals,” it said.

    It further alleged that the minors seen in the video of the incident, engaging the traffic authority in the confrontation, were sponsored by politicians and those sympathizing with terrorists.

    “The stone-pelters as seen from the video in the fight against the traffic police were innocent children sponsored by politicians and terrorist sympathizers. There is no place for violence in a democracy.

    “The PDP should use the opportunity of the electioneering to put their point of view in a democracy. When problems can be resolved through talks, there is no place for stone-pelting, arson and unruly behavior as we are witnessing in some of the campaigns.

    “It is equally unhealthy for society and it becomes the duty of political, social and religious leaders to correctly inform the misled youngsters to shun the path of violence, which is inimical to their own future.

    “Lastly is to say that the President has not lost his command and respect in Kano. For those who hold the border closure against him, they must come to realise that the 60-70 integrated rice mills in the city today would not have been in place if he had allowed the free-for-all smuggling to continue,” the presidency added. 

  • Emefiele: banks to blame for scarcity of new naira notes

    Emefiele: banks to blame for scarcity of new naira notes

    •CBN chief to Nigerians: you won’t lose your old notes •‘Deadline extension likely’

    Banks are to blame for the scarcity of new naira notes, Central Bank of Nigeria (CBN) Governor Godwin Emefiele said yesterday.

    He said some of them have not complied with a directive to only load the new notes on Automatic Teller Machines (ATMs).

    Emefiele said instead, the banks have been handing out bundles to individuals who spray them at parties.

    Cash-strapped Nigerians have been toiling to withdraw money from ATMs across the country.

    Banks have stopped issuing the old notes, which will cease to be legal tender on February 10, but the new notes have been scarce.

    Emefiele, who clarified that old notes can still be deposited after the extended deadline, said anti-graft agencies have been sent after erring banks and officials.

    The CBN governor spoke when he appeared before the House of Representatives Adhoc Committee on the New Naira Redesign.

    He was accompanied by Deputy Governors Aisha Ahmed (Financial System Stability), Edward Adamu (Corporate Services), Ade Shonubi (Operations) and Kingsley Obiora (Economic Policy).

    The House and the CBN agreed that a time limit will not apply to the validity of old naira notes after the February 10 deadline, in line with the law.

    After apologising for his inability to honour previous invitations, Emefiele said the CBN met many times with the banks and provided them with guidance notes on the collection and processing of old notes and the distribution of new ones.

    He said: “These include specific directives to the banks to load the new notes into the ATM nationwide to ensure equitable and transparent mechanisms for the distribution of the new notes to all Nigerians.

    “We wanted to be sure that as the currency is issued, the banks must go through a process that is equitable and transparent, not treating some customers as a priority and some as less important.

    “They were told to load this currency into the ATM. The ATM is a robot. People can only collect a maximum of N20,000 or N40,000, whether they are priority or not a priority customers.

    “I addressed the bankers on Sunday and I expressed to them my disappointment and in fact, the disappointment of the President and that of leaders with the way this has gone.

    “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. 

    “Some said, maybe, it’s money from the ATM and I said no, money from the ATMs is already broken. They (the ones spread at parties) are in leaflets.

    “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 CBN governor said the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other Related Offences Commission (ICPC), the Nigerian Financial Intelligence Unit (NFIU) and the Department of State Services (DSS) have been directed to go after the violators.

    “When I met President Buhari, I told him that we have met with the EFCC, ICPC and NFIU to join us in monitoring the flow of this currency to our people.

    “I am delighted that even yesterday (Monday), I read that the DSS had even started, which is what we want.”

    Emefiele said while the old notes will cease to be legal tender on February 10, Nigerians can still take the old notes to the bank and exchange them for new ones or deposit the old notes.

    Section 20(3) of the CBN Act 2007 provides that the apex bank should continue to accept the old notes until they go out of circulation.

    Emefiele agreed with the House on the provisions, assuring Nigerians that they will not lose their money after February 10.

    The CBN governor said: “You will not lose your money even when it loses its legal tender. 

    “You can take it to the bank and pay it into your account. But we should please, allow this policy to succeed.

    “Section 20(3) of the CBN Act says even after the old currency has lost its legal tender status, we are mandated to collect those monies. I stand with the House of Representatives on this.

    “What does that mean? The old notes would have lost its legal tender status, which means we have moved on. 

    “But, if you have the money that you have not been able to send into the bank, we will give you the opportunity to bring it back into the CBN to redeem it. 

    “Either you pay into your bank account or you want to exchange it, we will give it to you. It is your money. That’s the assurance I give to Nigerians.”

    According to Emefiele, there have been noticeable benefits.

    He said: “Inflation last month did not rise. We are expecting that it will continue to moderate and the exchange rate will be stable. We hope that with this exercise, the naira can even get stronger. 

    “We were able to support our security agencies. The incidence of banditry has reduced during this period. So, what we have done here is for the good of Nigerians.”

    Emefiele apologised for the pains Nigerians have been subjected to in the last few days.

    He said: “At these initial stages, there will be a few hitches and glitches. We apologise. 

    “But I want to say that the overriding interest is the economy – to make it stronger and better.

    “We know in the process that some will be hurt, I will say temporarily. But it’s a pain that I will appeal to all of us to please, show some understanding.

    “The overriding benefit to Nigerians is what we are interested in, which is about making our economy stronger and combatting the high incidence of insecurity.

    “Yes, we saw a few failings on the part of the banks and we appealed to EFCC, ICPC, and NFIU and they are currently working with our officials nationwide to make sure that this process goes on seamlessly.

    “We are happy that the exercise has achieved a success of over 75 per cent in our villages, etc. 

    “It is on the basis of that we now have a 10 days extension for more and more of this to be collected.”

    Chairman of the Committee and House Leader, Alhassan Ado Doguwa, said communication was essential. 

    “It is only when you interface that you have an opportunity to understand the policy of the government. So, this is a welcome submission but unfortunately at a belated point.

    “If you (Emefiele) had communicated this much earlier, this crisis would not have come up at all. Nigerians would go home to sleep without any fear at all. 

    “I thank you for coming up with this submission, especially on the position of the law, that the bank will at all times respect the position of the laws of the land. 

    “It’s clear and written in black and white. I want to thank you on behalf of the committee for admitting the position of the law.”

    Doguwa told the House during plenary that the CBN governor agreed to consider another extension of the validity of the old notes should there be a need for it.

  • Tinubu promises prosperity in Cross River, end to erosion in Anambra

    Tinubu promises prosperity in Cross River, end to erosion in Anambra

    All Progressives Congress (APC) presidential candidate Asiwaju Bola Tinubu yesterday promised to boost commerce and industrialisation in Anambra State if elected.

    He spoke at a rally in Dr. Alex Ekwueme Square in Awka attended by a huge crowd of party faithful and supporters.

    He said he was not afraid to confront the challenges of development he may inherit on the assumption of power.

    Tinubu said: “My policies call for the creation of industrial hubs that will provide jobs and skills that last a lifetime. 

    “These hubs will also manufacture goods that improve our standard of living and earn precious foreign reserves by exporting them.

    “The creation of jobs and the manufacturing of affordable domestic consumer goods for those who live here in Awka and in other southeastern cities will improve your daily lives. 

    “It will defeat poverty and give everyone the chance to be able to buy the food and essential things their families need yet still have some money left over.

    “My government will create agricultural hubs  that will offer more and better-paying employment while also producing more food for our kitchen tables.”

    Tinubu said he was not like Peter in the Bible who denied Christ three times before the cock crowed three times.

    He said: “What that means is that I’m a thinker, I’m smart and I’m a doer.”

    Tinubu promised to check the erosion menace in Anambra the same way he handled the Atlantic Ocean in Lagos State.

    He also pledged to work with Governor Chukwuma Soludo, if he becomes president.

    Tinubu said: “We want to make Anambra a memorable productive state in memory of our own friend, Chuba Okadigbo.

    “I’m here today to publicise the promise of development we made, the exploration and industrialisation Anambra is known for. You know me, the Lagos boy. 

    “I tamed the Atlantic Ocean; the same way we will check erosion in Anambra. We’ll make the value of your property one thousand times your investment. 

    “We’ll create jobs for our youth, industrialise and make the state one of the economic centres.”

    Tinubu urged the people to reject the Peoples Democratic Party (PDP).

    He said: “We’re not like other parties. When they bring their lies again, ask them how long it will take their lies to travel from Port Harcourt to Onitsha to Aba.

    “For 16 years, PDP lied, sharing our assets among themselves in the name of privatisation.

    “The city boy is here. Joy, happiness, prosperity, and good employment are here. Just make sure your PVC is intact. With me in Lagos, I didn’t discriminate. Your PVC is your mandate.

    “When Atiku said he is the only candidate from the North. Is that not division? When I started paying WAEC for students, I didn’t discriminate. I paid for everybody, whether Christian or Muslim.”

    While asking the people of the state to vote for him the same way they voted for Soludo, Tinubu promised not to disappoint them.

    He said: “I brought your son, and made him my friend. I didn’t say he’s not a Muslim. Instead, he became the economic adviser to Buhari.

    “He’s Charles Soludo. I salute his vision, he’s a brilliant man. He is a thinker. He knows the way. We’ll work together, inclusively.

    “The way you voted for Soludo is the way you’ll vote for me. The man who led here, that calls himself Peter Obi, just like the biblical Peter, who denied Jesus before the cock crew three times, will deny all the promises he made you.”

    According to Tinubu, the forthcoming election will define Nigeria’s path.

    He said: “This election is not some popularity contest. This is not big brother Nigeria. This election is about who can make Nigeria bigger, greater and stronger by leading and treating each other as brothers.

    “Look, I know there are some people who will not vote for me. They don’t like the progressive and good things I stand for and it is their democratic right to oppose me. 

    “Even with that, I still love them because they are Nigerians and that makes them my own even if they try to disown me.

    “If I did not see all Nigerians as my family and my people, I would not have selected your dear brother, Mr. Ben Akabueze, to be my Commissioner of Budget and Planning when I was governor of Lagos. He is now doing an excellent job as the DG of the Federal Government’s Budget Office.

    “I cannot hate a person because of their place of birth or because of the tribe or religion into which they were born. 

    “God does not give us the right to be so cruel and mean to our fellow man. I dare not judge a person by the origin of their last name. I would rather look into the quality of their character and their ability to help govern the nation with love, compassion and fairness.”

    The APC flagbearer said his administration’s focus is to create jobs for Nigerians in large numbers by massively industrialising the country.

    He promised to reform the education sector, merging innate talents with building skills, to ensure competitiveness and in demand in tomorrow’s job market.

    Tinubu said: “I know I can do these things because I made similar progress when the governor of Lagos. Meanwhile, one of my opponents is a former governor of your state. But he does not live among you. He lives in Lagos.

    “I live in Lagos because I am pleased with the progress we made in turning Lagos into one of Africa’s biggest economies. 

    “My opponent, however, refuses to live among you because he feels guilty for not giving you the development and growth you deserved from him.

    “Mr. Stingy refused to use the state’s money to help its people. He sacrificed your welfare and well-being so that he can boast that he saved money. But what good is saving money if you refuse to save your own people?

    “That type of man is a danger to those unfortunate enough to be subject to his misrule. Such a man was ill-equipped to be your governor. Do not make him your president.

    “Instead, let the light of this nation shine on the progressive path we set before you.”

    APC National Chairman, Abdullahi Adamu, who spoke through, Emma Enukwu, the Deputy National Chairman (South), said the Southeast had resolved to vote massively for their candidate, adding that there was no going back on the resolution.

    Imo State Governor Hope Uzodimma expressed satisfaction with the turnout, attributing it to mobilisation by the organisers.

    He urged them to keep up the tempo until victory was won.

    Plateau State Governor Simon Lalong, Director-General of the Campaign Council, also expressed surprise at the level of turnout.

    The Coordinator, Tinubu/Shettima Campaign Council, Senator Margery Chuba-Okadigbo, thanked party supporters for trouping out to receive the standard bearer.

    Anambra State Chairman of APC, Chief Basil Ejidike, said Southeast would vote massively for Tinubu.

    He appealed to the APC presidential candidate to remember the region while making appointments when elected president.

    At the rally were vice presidential candidate, Senator Kashim Shettima, Governor Abdullahi Ganduje of Kano, Abike Dabiri-Erewa, Chief Modestus Umenzekwe (Onwa Achina) and Senator Emma Anosike.

    Others were Uju Kennedy Ohanenye, Minister of State for Niger Delta, Sharon Ikeazor; Ambassador Elijah Onyeagba of Burundi; Ugochukwu Agballa, APC Chair Enugu State, among others.

    In Calabar, the capital of Cross River State, Tinubu re-echoed his message of economic prosperity to Nigerians.

    He promised to create jobs for the teeming unemployed people and take prosperity to every part of the country.

    At the Calabar Township Stadium, the APC presidential candidate thanked the people for their rousing welcome and particularly praised the party leaders and Governor Ben Ayade for uniting the party.

    He said: “I thank you immensely. God will give you showers of blessings. He will bless your family, protect your family, give you joy, and defeat your enemy. God will give you happiness. 

    “Your children will be greater than all of us. Since morning, you have been waiting to see and hear what we will say.”

  • Why varsities should allow students to vote, by Obi

    Why varsities should allow students to vote, by Obi

    The presidential candidate of the Labour Party (LP), Peter Obi, has called on the authorities not to disenfranchise over three million Nigerian students who are eligible to vote in the forthcoming presidential election.

    He made the call yesterday during a meeting with observers from the European Union, Election Observation Mission (EU-EOM). He said about 3.5 million students may not exercise their voting right if at least one week’s holiday is not given to enable them to return to their area of registration.

    He said: “I am sure the Independent National Electoral Commission (INEC) will do the right thing. I am sure the universities will give them the break to go and vote. It is important because it is about their future this election is about these young people and I’m sure they will allow them to go and vote. We will continue to mention it to them as we go along.”

    The LP candidate also expressed worry over the inability of some Nigerians in a few states, particularly in Lagos State, to collect their Permanent Voters Cards (PVCs). He said: “For me now, what is important is ensuring that people collect their PVCs. There are some areas where people are still complaining that they are being denied their PVCs for one reason or the other. INEC must give them attention.

    “I must give INEC credit for extending the date for the collection of PVC but again I urge them to ensure that people collect their PVC. This election is very important to Nigerians. It is an existential election. We want all those that have registered to participate.”

    The LP National Chairman, Julius Abure said the youth has a stake in the coming election they are the ones that bear the brunt of maladministration. He said: “When the voter registration was ongoing, most of the university students were at home and they did their registration at home.

    “Right now they are in school and if they remain in school during the election, it means they will be denied the opportunity to vote. So we are asking that a one-week break should be given as a holiday to enable them to go and vote. You would have excluded them, if they have their PVC and are not in the place where they can use it to vote.”

  • Nigeria improves in TI’s latest corruption perception index

    Nigeria improves in TI’s latest corruption perception index

    • Country ranked 154 in new rating

    Nigeria has improved by four places in the latest corruption perception index (CPI) report released by Transparency International (TI).

    In the latest index released by the Civil Society Legislative Advocacy Centre (CISLAC) yesterday in Abuja, TI noted that despite scoring 24 out of 100 points in 2022, Nigeria moved from 150th to 154th out of 180 countries assessed in the 2022 ranking.

    The CPI is TI’s tool for measuring the levels of corruption in the systems of various countries around the world.

    A country can score a maximum point of 100 and the least is zero.

    According to the organisation, zero signified the worst-performing government, and 100 is the best-ranked.

    The latest ranking from TI comes despite repeated pledges by the administration of President Muhammadu Buhari to fight graft.

    Both CISLAC and TI believed that factors that may have been responsible for the drop in ranking included recent pardon of high profile individuals.

    According to the graft assessment agency, such acts by the Buhari administration was damaging as it failed the test of equity and fairness, especially when those pardoned were Politically Exposed Persons (PEF).

    The prevalence of high profile corruption cases, especially the recovery of N30 billion from the former Accountant – General of the Federation by the Economic and Financial Crimes Commission, was believed to underscore how deep corruption was entrenched in the country.

    TI also listed oil theft as graft which had continued despite the presence of numerous security agencies in Nigeria, including increased spending on security which has been a major challenge in the country’s anti-corruption efforts.

    The organisation also said it took the opaqueness of the subsidy regime in Nigeria into cognisance while ranking Nigeria’s Corruption index.

    According to TI, in 2022, Nigeria’s National Assembly approved N4 trillion as subsidy payments for the year 2022, representing about twenty four per cent of the national budget.

    CISLAC lamented that despite this, Nigerians were subjected to queues for most of 2022 to get fuel, adding: “There was also a disparity in the price with citizens having to purchase the product above the range of official price in different parts of the country.”

    Beyond these, CISLAC/TI rated Nigeria poorly on the basis of lack of transparency and accountability in the security sector, lack of transparency in constituency projects, judicial challenges among other salient factors militating against Nigeria in the war against graft.

    In the methodology adopted by TI in its latest ranking, it is believed that the Buhari administration’s pardon granted to two jailed former governors – Joshua Dariye of Plateau State and Jolly Nyame of Taraba State – in 2022 marked a significant setback in the country’s anti-corruption efforts.

    While granting the two former governors pardon in April 2022, the Supreme Court had affirmed their convictions and sentencing, even when they had yet to serve half of their jail terms.

    Also, corruption has continued to permeate the public and private sectors despite the government’s efforts to curb the menace.  Transparency International Chair, Delia Rubio, said governments worldwide have failed to progress against corruption.

    Rubio called for all governments to work for all people, not just an elite few.

    “Corruption has made our world a more dangerous place. As governments have collectively failed to progress against it, they fuel the current rise in violence and conflict – and endanger people everywhere. The only way out is for states to do the hard work, rooting out corruption at all levels to ensure governments work for all people, not just an elite few,” Rubio said.

  • Absence of daughter in UK court stalls Ekweremadus’ trial

    Absence of daughter in UK court stalls Ekweremadus’ trial

    The absence of Sonia Ekweremadu, daughter of former Senate Deputy President Ike Ekweremadu, has stalled the trial of the former lawmaker and his wife, Beatrice, for alleged organ harvesting.

    At the resumed court trial on Monday, Sonia’s defence team said she was unable to attend court as she is currently in hospital with an unspecified condition.

    Her lawyers have also submitted a psychological report, claiming she is not fit to stand trial.

    Consequently, the court adjourned to allow the prosecutors to examine the report.

    Ekweremadu’s daughter is said to be suffering from kidney disease and needs a transplant.

    She is standing trial alongside her parents, who were in court at the resumed hearing.

    They are facing charges bordering on conspiracy to arrange/facilitate the travel of another person with a view to exploitation, namely organ harvesting.

    The couple was arrested by the London Metropolitan Police last June and appeared before a Magistrates’ court in July.

    Ekweremadu’s wife was granted bail on July 22, but the senator’s request was denied.

    The police had alleged that David Ukpo, the reported victim at the centre of the organ harvesting allegation, is a 15-year-old, but the court ruled that he is 21.

    Last December, the court also refused Ekweremadu’s fresh bail application on the ground that the senator “remains a flight risk”.

  • Like Lagos Atlantic Ocean, I’ll fix Anambra erosion menace – Tinubu

    Like Lagos Atlantic Ocean, I’ll fix Anambra erosion menace – Tinubu

    The presidential candidate of the All Progressive Congress (APC), Asiwaju Bola Tinubu has promised to fix the erosion menace ravaging Anambra State. 

    He said he will handle the perennial challenge like he tackled the Lagos Atlantic ocean.  

    Tinubu also said he was not afraid of anyone in the presidential race. 

    The APC leader spoke on Tuesday at Dr Alex Ekwueme square in Awka, Anambra State during the continuation of his campaign. 

    Tinubu said he was not like the one they called Peter in the Bible that denied Christ three times before the cock crowed in the morning. 

    According to him: “What that means is that I’m a thinker, I’m smart and I’m a doer.”

    The mammoth crowd at the square kept shouting Asiwaju, Asiwaju, interrupting his speech intermittently.

    The former Lagos Governor assured youths of job opportunities, promising to convert the State into one of the nation’s economic centres.

    Tinubu said: “We want to make Anambra a memorable productive state in memory of our own friend, Chuba Okadigbo and our Governor General, Sen. Hope Uzodimma, (Onwa Imo).

    “I’m here today to publicize the promise of development we made, the exploration and industrialization Anambra is known for.

    ” You know me, the Lagos boy, I tamed the Atlantic ocean; the same way we will check erosion in Anambra.

    Read Also: VIDEO: Massive crowd for Tinubu in Anambra

    “We’ll make the value of your property one thousand times your investment. We’ll create jobs for our youth, industrialize and make the state one of the economic centres. 

    “We’re not like other parties. When they bring up their lies again, ask them how long it will take their lies to travel from Port Harcourt to Onitsha, to Aba.

    ” For 16 years, PDP lied, sharing our assets among themselves in the name of privatisation.

    “The city boy is here, joy, happiness, prosperity and good employment are here. Just make sure your PVC is intact. With me in Lagos, I didn’t discriminate. Your PVC is your mandate. 

    “When Atiku said he is the only candidate from the north. Is that not a division among us? When I started paying WAEC for students, I didn’t discriminate, I paid for everybody, whether Christian or Muslim.”

    While asking the people of the State to vote for him like they overwhelmingly voted for Soludo, Tinubu promised not to disappoint them.

    “I brought your son and made him my friend. I didn’t say he’s not a Muslim. Instead, he became the economic adviser to Buhari.

    ” He’s Charles Soludo, I salute his vision, he’s a brilliant man, he a thinker, he knows the way, we’ll work together, inclusively.

    “When I’ll become the President. The way you voted for Soludo is the way you’ll vote for me. The man who led here, that call himself Peter Obi, just like the biblical Peter, who denied Jesus before the cock crew three times, will deny all the promises he made you,” he added.

  • BREAKING: Nigerians won’t lose old notes after deadline – CBN

    BREAKING: Nigerians won’t lose old notes after deadline – CBN

    The Central Bank of Nigeria(CBN) has bowed to the demand of the House of Representatives for a gradual phase-out of the old naira notes. 

    Its Governor Godwin Emiefele, who appeared before the House of Representatives ad hoc Committee, said Nigerians won’t lose the old notes after the February 10 extended deadline. 

    He said while the old notes cease to be legal tenders after the expiration of the deadline, Nigerians can still take them to the bank for exchange of new notes or deposit the old notes in their accounts.

    Section 20(3) of the CBN Act, 2007 provides that the Apex Bank should continue to accept the old notes until they are phased out of circulation. 

    Read Also: BREAKING: Finally, Emefiele appears before Reps ad hoc Committee

    He said the CBN stands with the position of the House of Representatives on the provisions of section 20(3) of the CBN Act, assuring Nigerians they will not lose their money.

    According to him: “You will not lose your money even when it loses its legal tender. You can take it to the bank, pay it into your account. But we should please allow this policy to succeed.”

    He however said that the apex bank was aware of the pains Nigerians were going through but assured that they were doing everything possible to address them.

    Details Shortly… 

  • BREAKING: Police stop grand rally for Tinubu/Shettima in Niger

    BREAKING: Police stop grand rally for Tinubu/Shettima in Niger

    Police operatives in Niger State on Tuesday stopped a grand lockdown rally to sell the candidacy of the presidential standard bearer of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu and his running mate, Senator Kassim Shettima.

    The programme was also meant to drum support for the governorship candidate of the APC in Niger State, Hon. Umar Bago and his running mate, Comrade Yakubu Garba.

    The event was organised by the Deputy Chief Whip of the Senate and National Coordinator of Project 774 for Tinubu/Shettima 2023, Senator Aliyu Sabi Abdullahi.

    The gates of New Bussa Township Stadium in Borgu Local Government Area of Niger, which was already fully rehabilitated and decorated in readiness for the event billed to commence by 11.00am, were locked and barricaded by police operatives.

    The Nation observed two pickup trucks manned by heavily armed Mobile Policemen stationed at the gate of the stadium while regular policemen locked the gates and prevented supporters from gaining entrance.

    Read Also: Nnamani/Tinubu campaign posters flood Enugu

    Journalists who arrived the venue at about 8.30am were turned back.

    The police, who refused to speak on record, said the order to barricade the New Bussa Stadium which was commissioned on Monday by Senator Abdullahi came from unnamed higher authorities.

    Three pickup vans mounted with guns and filled with heavily armed men of the Nigerian Army were seen patrolling around the stadium.

    Niger Police spokesman, Wasiu Abiodun, a Deputy Superintendent of Police (DSP), said the security cordon was to prevent a “breach of security” following credible intelligence at its disposal.

    According to him: “The Police had to take over the venue of the planned rally, as a proactive measure due to intelligence received of likely breach of security at the venue.

    “Hence, we have to do the needful to avert any possible attack or hijack by suspected miscreants to cause mayhem and breach of peace in the community.

    “The Command will not fold its arms and allow act of political violence, avoidable loss of life, destruction of properties and lawlessness.”

    The Nation gathered the order to stop the rally was allegedly given by Governor Sani Abubakar Bello.

    The Nation Correspondent could not independently confirm this claim as at press time.

    Bello, whose second term ends on May 28, is the Niger North senatorial candidate of the APC.

    Senator Sabi Abdullahi, who organised the rally, occupies the Niger North seat in the Ninth Senate.

    Supporters of Abdullahi who turned out en masse to attend the rally, later found their way to the country home of the Senator where they sang the praises of Tinubu, Shettima, Bago and Yakubu.

    The supporters also engage in a campaign procession around the locality of Senator Abdullahi amid singing, dancing and chanting of sai Jagaban, Shettima, Bago and Yakubu among others.

    Senator Abdullahi was yet to officially react to the action of the police authorities in Niger state as of the time of filing this report.

  • BREAKING: Finally, Emefiele appears before Reps ad hoc Committee

    BREAKING: Finally, Emefiele appears before Reps ad hoc Committee

    Governor of the Central Bank of Nigeria(CBN) Godwin Emefiele on Tuesday appeared before the ad hoc committee of the House of Representatives on the cashless policy and deadline for the replacement of old currency notes.

    Emefiele, who was supposed to appear before the Committee last week, failed to do stating he was out of the country with President Muhammadu Buhari.

    Read Also: Reps leader accuses Emefiele of sabotage

    The House threatened to invoke the provisions of section 89(1)(d) of the Constitution by issuing a warrant of arrest today to compel him to appear.

    The CBN Governor, who appeared with some of his assistants, went into a brief Executive session with members of the committee.

    Details Shortly…