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Finally, CBN bows to pressure, says old naira notes remain legal tender till Dec 31

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The Central Bank of Nigeria (CBN) has finally released a statement, saying the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.

Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday evening.

“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023,” the statement reads.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly.”

Two weeks ago, the supreme court invalidated the naira redesign policy introduced by the CBN, citing a defective timing and implementation.

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Delivering judgment in a suit instituted by three states of the federation, a seven-member panel of the apex court held that the old N200, N500 and N1000 notes remain legal tender until the end of the year.

However, over one week since the verdict, neither the CBN governor nor the attorney-general of the federation made any official statement about compliance with the apex court ruling.

The uncertainty about the true status of things prompted traders and businesses across the country to continue rejecting the old currency.

The apex bank’s statement comes few hours after the presidency said the CBN had no reason not to comply with court orders on the excuse of waiting for directives from President Muhammadu Buhari.

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UPDATED: DHQ declares physics professor, 7 others wanted over murder of 17 soldiers in Delta

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The Defence Headquarters has declared eight persons wanted in connection to the killing of army personnel in Okuama community, Delta state.

The 17 army personnel were killed on March 14 during an operation in the community.

 

Among those declared wanted are Ekpekpo Arthur, a professor of physics at the Delta State University; Akeywiru Omotegbono, Andaowei Bakrikri, Igoli Ebi, a lady; Akata David, Sinclear Oliki, Clement Oghenerukevwe and Reuben Baru.

The names of the deceased soldiers are A.H Ali, D.E Obi, S.D. Ashafa, U. Zakari, Yahaya Saidu, Danbaba Yahaya, Kabir Bashir, Abdullahi Ibrahim, Bulus Haruna, Sole Opeyemi, Bello Anas, Alhaji Isah, Clement Francis, Abubakar Ali, Adamu Ibrahim, Hamman Peter, and Ibrahim Adamu.

After the killing of the army personnel, President Bola Tinubu and the military high command promised that the perpetrators would be brought to justice.

On Wednesday, the personnel were buried at the military cemetery in Abuja and were posthumously conferred with national honours by President Tinubu.

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The president also offered scholarships to children of the late officers.

 

Speaking during the burial ceremony of the late personnel, Taoreed Lagbaja, chief of army staff (COAS), said it was “highly demoralising” that the soldiers were killed by those they were equipped to protect.

The army chief added that it took over 72 hours of searching to recover the vital organs of some of the deceased soldiers.

 

He added that the Nigerian Army exercised “a lot of restraint” in the search for missing arms and body parts of the deceased soldiers.

 

The army chief also said some of the widows of the slain officers are pregnant.

 

“The Okuama killing has added to the care of the Nigerian Army and, by extension, the Nigerian state, 10 widows, three of whom are four, five, and eight months pregnant, 21 orphans, and many other dependents, which include parents,” Lagbaja said.

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We didn’t monitor Labour Party national convention, says INEC

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The Independent National Electoral Commission (INEC) says it did not monitor the national convention of the Labour Party (LP).

 

Recall that on Wednesday, the LP conducted its national convention at the Grand Seasons Hotel, in Nnewi, Anambra state.

Julius Abure was re-elected as chairman of the party at the convention.

However, Rotimi Oyekanmi, media aide to Mahmood Yakubu, INEC chairman, said that the conduct of the convention was not monitored by the electoral umpire.

Oyekanmi did not specify why INEC did not monitor the convention.

The convention was initially slated for March 29 but was later changed to March 27. The leadership of the party had said the date was changed because the initial day falls on Good Friday, a very important date for the Christian faithful across the world.

The venue was also changed from Abia to Anambra.

 

Speaking on the change of venue, Kehinde Edun, LP national legal adviser, said the party duly informed INEC about the change in venue and date.

READ  CBN spends N800bn to produce, destroy naira notes annually

 

“So, we are at liberty to pick any venue of our choice. We only need to inform INEC about the change in venue and the time,” Edun said.

 

There have been calls for the party to suspend its national convention.

 

On March 17, the house of representatives caucus of the LP called for the suspension of the convention to enable the party “properly plan” the event.

 

The Nigeria Labour Congress (NLC) has described Abure’s re-election as “an illegality”.

 

On March 16, the NLC and LP traded words over calls for the suspension of the party’s convention and resignation of Abure as chairman of the party.

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DHQ declares eight wanted over murder of 17 soldiers in Delta

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The Defence Headquarters has declared eight persons wanted in connection to the killing of army personnel in Okuama community, Delta state.

The 17 army personnel were killed on March 14 during an operation in the community.

 

DHQ named those declared wanted as Akeywiru Omotegbono, Ekpekpo Arthur, Andaowei Bakrikri, Igoli Ebi, Akata David, Sinclear Oliki, Clement Oghenerukevwe and Reuben Baru.

More to follow…

READ  CBN spends N800bn to produce, destroy naira notes annually
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