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APC governors ask Buhari to allow use of old naira, say CBN printed only N300bn new notes

Published

1 year ago

February 3, 2023

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Governors elected on the platform of the All Progressives Congress (APC) have appealed to President Muhammadu Buhari to allow both the old and new naira notes to co-exist to ease the suffering of Nigerians.

Nasir el-Rufai, governor of Kaduna state, said the request was made to the president when the APC governors met with him on Friday.

El-Rufai was flanked by Abdullahi Ganduje, Kano State governor, while briefing journalists on the outcome of the meeting at the state house.

He said although the Central Bank of Nigeria (CBN) mopped up over N2 trillion of the old notes in circulation, only N300 billion worth of new notes were printed.

The governor said if the CBN intends to implement the cashless policy, the apex bank should have printed at least half of what was mopped up.

He said the governors told the president that the masses are suffering and traders are losing their goods due to a lack of patronage.

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El-Rufai said they appealed to Buhari to reconsider his stance.

The Kaduna governor however said the president did not decline or approve the request.

He said Atiku Bagudu, Kebbi state governor and chairman of the Progressive Governors Forum, is meeting with the president privately in a bid to convince him to shift ground on the matter.

Related Topics:APC Governors Buhari CBN New Naira notes

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UPDATED: Tinubu appoints Jim Ovia as chairman of education loan fund

Published

3 hours ago

April 26, 2024

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President Bola Tinubu has appointed Jim Ovia as the chairman of the Nigerian Education Loan Fund (NELFUND).

Ajuri Ngelale, presidential spokesperson, announced the appointment of Ovia, chairman of Zenith Bank, in a statement on Friday.

Ngelale said Tinubu believes that Ovia will bring his immense wealth of experience to ensure that no Nigerian student suffers a paucity of funds in the quest for tertiary education.

On April 3, Tinubu signed the student loans amendment bill into law to provide Nigerians with quality and accessible education.

The law will allow Nigerian students in tertiary institutions to access low-interest loans for tuition and other academic needs.

Subsequently, the president appointed Akintunde Sawyerr as the managing director and chief executive officer (CEO) of the fund.

Tinubu also appointed Frederick Oluwafemi Akinfala as the executive director of finance and administration, while Mustapha Iyal will serve as the executive director of operations of NELFUND.

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JUST IN: Tinubu appoints Jim Ovia as chairman of education loan fund

Published

5 hours ago

April 26, 2024

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President Bola Tinubu has appointed Jim Ovia as the chairman of the Nigerian Education Loan Fund (NELFUND).

Ajuri Ngelale, presidential spokesperson, announced the appointment of Ovia, chairman of Zenith Bank, in a statement on Friday.

More to follow…

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ICPC detains TETFund boss ‘over questionable N7.6bn project’

Published

9 hours ago

April 26, 2024

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has detained Sonny Echono, executive secretary of the Tertiary Education Trust Fund (TETFund).

Demola Bakare, ICPC spokesperson, confirmed the development on Friday.

Bakare said that Echono was invited by the anti-graft agency on Thursday.

“The executive secretary of TETFund is here with us. He has been invited for questioning. He is still in custody. He was invited yesterday.” Bakare said.

“He was invited on Thursday. He has not been released. He’s still with us. Investigation is still ongoing.”

It was earlier reported that TETfund awarded two contracts to Fides Et Ratio Academy and Pole Global Marketing (PGM) within two months at the cost of N3.8 billion respectively without the approval of the federal executive council (FEC), which is required for the contract size.

The contract was to provide capacity building course and learning management systems to about 2 million students across higher institutions in the country.

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In a rejoinder, TETFund said it did not award N7.6 billion contracts to two companies without due process.

The agency said it was wrong to say they were contracts, whereas they were ICT projects implemented under a memorandum of understanding (MoU) which doesn’t require competitive bidding in public procurement.

TETFund further said its disbursement guidelines were approved by the president on the recommendation of the “Fund’s Board of Trustees and concurrence of the Honourable Minister of Education in line with the TETFund Act 2011″.

In an interview with TheCable, Echono said there was no form of irregularity in the N7.6 billion project.