Connect with us

News

Naira redesign: Confusion as Buhari, CBN refuse to respond to Supreme Court ruling three days after

Published

on

 

Three days after, President Muhammadu Buhari and the Central Bank of Nigeria (CBN) are yet to respond to the Supreme Court ruling making the old naira notes legal tender until December 31, 2023.

The apex court gave the ruling on Friday, nullifying Federal Government’s decision to stop the old N500 and N1,000 notes being legal tender, which took effect on February 10.

Nearly a month after majority of the old notes were mopped out of circulation, the challenge of cash squeeze persists, as new notes have remained elusive.

Following widespread condemnation of the policy and its accompanying pains on Nigerians, President Buhari addressed Nigerians on February 16, directing that the old N200 be returned into circulation to alleviate the hardship faced by citizens.

However, on Friday, a seven-member Supreme Court panel nullified the policy, faulting government’s handling of the process and declaring its methodology and implementation unconstitutional.

The Supreme Court ruled that though the President had authority to act as the federation’s executive, he was still required to give the federating units adequate notice before implementing the new monetary policy through CBN.

See also  BREAKING: CBN raises interest rate to 26.25%

The court said that before the old naira notes were withdrawn, the states had not received reasonable notice as required by section 20(3) of the CBN Act.

As a result, the Supreme Court ruled in its lead decision, read by Justice Emmanuel Agim, that Buhari’s authorisation for the CBN to withdraw the old banknotes was illegal.

As at yesterday evening, the Presidency was yet to react to the ruling, despite issuing three press statements on other matters yesterday. Also, there is yet no word from the CBN in reaction to the ruling.

President Buhari, who is presently attending a United Nations (UN) conference on least development countries in Qatar, had charged Chadian warlords and leaders of the various political factions in Chad to show restraint and patriotism by immersing themselves in the ongoing transition to democracy in the country.

He also charged the Flying Eagles to win the ongoing CAF U-20 Africa Cup of Nations (AFCON) in Egypt as Nigeria prepares to face The Gambia today in the semifinals of the competition. He had earlier also sympathised with the former First Lady, Maryam Abacha, and her entire family on the death of their son, Abdullahi.

See also  Police detain ARM director accused of rape

Meanwhile, business operators, yesterday, said they are anxious to hear from President Buhari or the CBN over validity of the old notes, noting that it was risky to accept the notes until there is a directive from either the Presidency or CBN.

They said their decision was borne out of the controversy that followed a similar Supreme Court pronouncement that was not adhered to.

In a survey in the Federal Capital Territory (FCT), a taxi driver, Abubakar Umar, said he was hopeful that President Buhari or the CBN Governor, Godwin Emefiele, would speak within the week on whether or not they should go ahead and accept the old notes. He said until such directive was given, he would insist that customers paid him only with new N500 or N1,000 notes.

A petty trader, simply identified as Madam Uloma, also said that she won’t accept the old notes, saying “until I hear from the horse’s mouth, I will not collect the old notes.”

Uloma said she would not want to go through the stress she went through when the notes were declared invalid by CBN.

See also  Good Morning! Here Are Some Major News Headlines In The Newspapers Today: Buhari blocked my bid to purchase oil field – Elumelu

A resident, Fred Oyibo, said he was excited when the pronouncement validating use of old notes was made by the Supreme Court. He, however, expressed disappointment that he could not use the old notes he had, adding that business operators are still rejecting them in spite of the ruling.

“I have about N3,000 of the old N1,000 notes with me and I felt elated when the court gave the ruling, but to my dismay the money was rejected when I went out to buy a few items.

“I tried informing them that the ban had been lifted by the Supreme Court and they asked if the CBN had spoken. I further tried to educate them that once the Supreme Court gives a ruling, everyone was bound by it but they insisted on hearing from the Presidency before taking any action.

“At that point I got discouraged and went back home, and as I speak with you, I still have the money with me,” he said.

News

Good morning! Nigerian Newspapers Headlines: NDC dissociates itself from 59-member presidential campaign council unveiled by Obi-Kwankwaso movement

Published

on

By

 

1. The leadership of the Nigeria Democratic Congress (NDC) has distanced itself from the 59-member presidential campaign council constituted by OK Movement, a support group for Peter Obi, presidential candidate of the party, and his running mate, Rabiu Musa Kwankwaso.

In a statement on Saturday, Cleopas Moses, NDC national chairman, said the list did not emanate from the party and should be disregarded.


2. Former Senior Special Assistant Media and Publicity to the late President Muhammadu Buhari, Mallam Garba Shehu, said yesterday that the litigation instituted against Nigeria by Sunrise Power and Transmission Company at the International Chamber of Commerce (ICC) tribunal in Paris was doomed from the outset. 
Garba, who personally attended the January 15, 2025 sitting of the tribunal in the French capital, said it was clear from day one that Sunrise and its promoter Leno Adesanya “would lose this case following the failure of all the witnesses they invited, including, of course, a beautiful lady from Senegal allegedly providing comfort to one of their government contacts.

See also  Governors stealing LG funds, stalling growth, says Buhari

3. The Presidency yesterday knocked back economic proposals by the presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar. It asked him to take the proposals to Nigerians on his campaign trail rather than seeking to dictate how President Bola Tinubu should govern the country.

4. The Nigeria Hydrological Services Agency (NIHSA) has forecast a high risk of riverine flooding across 15 states between September 19 to 25.
In its national flood advisory issued on Friday, the agency said rising river levels could trigger flooding in communities located on floodplains during the seven-day period.
The affected states are Imo, Cross River, Ebonyi, Benue, Anambra, Akwa Ibom, Lagos, Rivers, Edo, Kogi, Taraba, Delta, Bayelsa, Enugu and Abia.

5. Delta State Police Command has arrested a suspect after its personnel intercepted a vehicle conveying military camouflage uniforms, boots and hats, as well as cartons of suspected Tramadol and other illicit drugs. The vehicle, a green Toyota Sienna with registration number KP 527 AAA, was intercepted by operatives of the command’s Anti-Cult Unit, Asaba, along the Onitsha-Ondo route on Friday.

See also  Good morning! Here Are Some Major News Headlines In The Newspapers Today: CBN increases interest rate to 22.75%

6. Police in Rivers State have begun an investigation into the killing of a father of four, Kamadioye Krama, by gunmen in Emulation community, Abua/Odual Local Government Area. The spokesperson for the State Police Command, Blessing Agabe, confirmed the incident, stating that an investigation was ongoing to apprehend the culprits and bring them to book.

7. President Bola Tinubu has said that, from October 1, commuters across Nigeria must begin to see measurable reductions in transportation fares, as he has directed all 36 states to accelerate the National Affordable CNG Transit Programme. In a statement personally signed and released on Saturday, September 19, Tinubu said the push followed his August 27 meeting with state governors.

8. The Nigeria Security and Civil Defence Corps, NSCDC, has deployed Abdulhamid Kabara as the new commandant of its Niger State Command following the deaths of 37 suspected illegal miners in custody. Kabara replaces Suberu Aniviye, who was suspended as Niger NSCDC commandant after the 37 suspects died in Minna, the state capital, on Thursday.

See also  BREAKING: CBN raises interest rate to 26.25%

9. The Northern Senators Forum on Saturday called for an immediate, transparent and independent investigation into the deaths of 37 young Nigerians in the custody of the Nigeria Security and Civil Defence Corps, NSCDC, in Minna, Niger State. It described the circumstances surrounding the occurrence as “deeply disturbing and unacceptable.”

10. The Minister of Interior, Olubunmi Tunji-Ojo, has suspended the Niger State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Suberu Aniviye, and 20 other officers following the deaths of 37 suspected illegal miners in the Corps’ custody. The officers were suspended pending the outcome of an independent investigation into the deaths, which occurred on Thursday, September 17, 2026. The Ministry of Interior announced the development in a statement signed by Tunji-Ojo on Saturday

Continue Reading

News

Keyamo, Sunday Dare knock Atiku for addressing President Tinubu as ‘Bola’

Published

on

By

  The minister of aviation, Festus Keyamo, and the special adviser to President Bola Tinubu on media and public communication, Sunday Dare, have criticised former Vice-President Atiku Abubakar for referring to the President as “Bola”.

Keyamo described Atiku’s use of Tinubu’s first name as “disrespectful and discourteous”.

“The continuous reference to President Bola Ahmed Tinubu by His Excellency, ex Vice-President Atiku Abubakar in his press conference earlier today as ‘Bola’ is very disrespectful and discourteous,” he wrote on X.

He said Atiku should recognise that the office of the president deserves to be accorded dignity despite political differences.

“He should know better that no matter your differences with Mr. President, for the sake of the country, that office should be accorded all the dignity it deserves,” Keyamo said.

Keyamo also described the tone of Atiku’s remarks as reflecting “pain and bitterness”, while referring to the former vice-president’s recent comment about Tinubu’s age.

See also  Police parade 16 suspects over Plateau attacks

“After all, he made the outlandish claim the other day that Mr. President is older than himself. It is therefore a contradiction that he would also refer to an ‘elder’ by his first name,” he said.

Also, Dare, in a post on X on Saturday,  reacted to Atiku’s call for Tinubu to reduce petrol and electricity costs.

Atiku had on Friday asked Tinubu to use the remaining eight months of his administration to reduce the burden of petrol and electricity costs on households, workers and businesses.

He said the removal of petrol subsidy in May 2023 had contributed to higher transportation, food, logistics and energy costs. He also warned against phasing out electricity subsidies without addressing the impact on households and businesses.

Dare described Atiku’s manner of addressing the president as “the height of insolence”, accusing the former vice-president of political desperation.

“Alhaji Atiku’s manner of addressing President Bola Tinubu as Bola is the height of insolence. It is a clear descent into the abyss of unbridled desperation and an unraveling mind,” Dare wrote.

See also  Major News Headlines In The Papers Today: Buhari, Gbajabiamila in closed-door meeting over CBN cash withdrawal limit

“To seek to lecture a sitting president with the unbridled insolence of dropping his first name, petulantly barking instructions, and dictating how governance should be run within a truncated timeline is the height of political hubris.”

Dare defended the Tinubu administration’s economic policies, saying the president was undertaking reforms to address structural problems in the economy.

Dare also questioned Atiku’s criticism of government intervention in the economy.

“Atiku’s sudden conversion to the gospel of interventionism rings hollow,” he said.

He accused Atiku of using Nigerians’ economic difficulties for political purposes ahead of the 2027 elections.

“This is a desperate strategy by a perennial seeker of power who weaponizes transient national discomforts for electoral mileage,” Dare added.

“Nigerians do not need lectures on fiscal management from a political wanderer whose decades-long pursuit of the presidency has been defined by perpetual opportunism.”

Continue Reading

News

South Africa-based Nigerian lecturer found dead at her residence

Published

on

By

A Nigerian lecturer at the University of Fort Hare, South Africa, Ayodele Odularu, has been found dead at her residence in Eastern Cape Province of South Africa.

According to reports, Gbadebo Odularu, the brother of the deceased, said she died on August 16 at the age of 51.

A family member, who spoke on condition of anonymity, told Punch’s Diaspora Tales that the lecturer’s death was not natural and the circumstances remained unclear to the family.

The family had asked for an investigation into her death.

In a GoFundMe statement published by Gbadebo on behalf of the family, the lecturer was described as someone who “dedicated her life to knowledge, discovery, and creating a better future for communities”.

The family said “although her journey on earth ended too soon, the impact of her life continues through the people she inspired, the knowledge she shared, and the communities she hoped to serve”.

See also  Good morning! Here Are Some Major News Headlines In The Newspapers Today: CBN increases interest rate to 22.75%

“Ayodele was far more than a sister. She was a cherished daughter, aunt, friend, mentor, scholar, and a source of encouragement, compassion, wisdom, and strength to everyone blessed to know her,” the statement reads.

“Her presence brought warmth into every room. She was known for her kindness, infectious laughter, generosity, resilience, and unwavering commitment to uplifting others. She had a rare ability to make people feel valued, heard, and inspired.

“Dr. Ayodele Odularu dedicated her life to knowledge, discovery, and creating a better future for communities.

“As an Independent Senior Researcher at the University of Fort Hare Community, she contributed meaningfully to academic research and the advancement of knowledge through her scholarly work.”

On Thursday, University of Fort Hare organised a memorial service in honour of the lecturer.

The lecturer died amid the violent attacks against Nigerians and other Africans in South Africa.

To date the Federal Government has 
facilitated the evacuation of 1,716 Nigerians from South Africa over Xenophobic attacks in the former apartheid country.

See also  All travellers coming into Nigeria must provide evidence of COVID vaccination - FG

Continue Reading

Trending News