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Good morning! Here Are Major News Headlines In Nigerian Newspapers Today: Banks will continue to accept old Naira notes after February 10 deadline

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1. Nigerians with old notes can still deposit them at commercial banks even after the February 10 deadline, this is according to the Central Bank Governor, Godwin Emefiele. Emefiele stated this on Tuesday while appearing before the House of Representatives ad hoc committee.

2. The Emir of Dutse in Jigawa State, Dr Nuhu Muhammad Sanusi, died on Tuesday at the age of 78. This was confirmed in a statement signed by the governor’s Senior Special Assistant, New Media, Auwalu Sankara.

3. The Kogi State House of Assembly has recalled four suspended members, Rt Hon. Ahmed Mohammed, former Deputy Speaker, Hon. Bello Hassan, the former majority leader, Hon. Idris Ndakwo, Lokoja II and Hon. Moses Ododo, former Deputy Chief whip. Speaker of the House, Rt. Hon. Mathew Kolawole announced the lifting of the suspension on Tuesday during the House sitting in Lokoja.

4. Ahead of next month’s general election, Nigeria’s Senate President, Dr Ahmad Ibrahim Lawan has assured the European Union observers that 2023 will be the best in the nation’s democratic elections. Lawan stated this while playing host to the United Nations election observers on Tuesday in Abuja.

READ  Ganduje shuts supermarket over refusal to accept old naira notes

5. The Indigenous People of Biafra, IPOB, has maintained that its leader, Nnamdi Kanu, is dying, adding that his worsening health status is real. IPOB’s spokesman, Emma Powerful, made the declaration for the umpteenth time in response to a remark by an operative of the Department of State Services, DSS, that the news about Kanu’s deteriorating health was political. A DSS operative had dismissed claims that the secret police was poisoning Kanu in its custody.

6. The House of Representatives has approved the restructuring of N1 trillion to fund the 2022 supplementary budget. The Committee on Supply, on Tuesday, approved the request for President Muhammadu Buhari to get the loan from the Central Bank of Nigeria, CBN.

7. Presidential candidate of the All Progressives Congress, APC, Asiwaju Bola Tinubu, on Tuesday in Anambra, threw jabs at his fellow contestants, Alhaji Atiku Abubakar of the Peoples Democratic Party, PDP, and Mr Peter Obi of the Labour Party, LP, describing them as a liar and a betrayer, respectively.

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8. The World Bank has tasked Nigeria to increase its broadband penetration to provide internet access to people in rural areas and remote places. World Bank Country Director, Shubham Chaudhuri, made the call on Tuesday in Abuja while speaking on the sidelines of the maiden Digital Economy Regional Conference themed, “Positioning West African Digital Economy for the Future.”

9. Ekoli Edda community in Afikpo South Local Government Area of Ebonyi State on Tuesday petitioned President Muhammadu Buhari and the Inspector-General of Police, Usman Baba, over the alleged subtle move by the State government to free persons indicted in the killing of a pregnant woman, police inspector and other youths in the community. A chieftain of the Peoples Democratic Party in Ebonyi State, Chief Julius Oji, who disclosed the development in Abakaliki, accused the Ebonyi State government of attempting to release the suspects, currently in police custody, without proper trial by a competent court of law.

READ  CBN releases $265m to prevent aviation sector’s collapse, says 'We want orderly exit of funds’

10. The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has said Nigerians should pay close attention to the All Progressives Congress, APC, presidential candidate, Bola Tinubu’s famous word, “Emilokan” because it has a deep spiritual manifestation. Ayodele in a statement by his spokesman, Oluwatosin Osho, cautioned Nigerians against taking Tinubu for granted, adding that they joke a lot with the pronouncements of the APC presidential candidate because they don’t have an idea of what it means spiritually.

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BREAKING: Nigeria’s inflation rate rises to 33.69%

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The National Bureau of Statistics (NBS) says Nigeria’s inflation rate rose to 33.69 percent in April, as prices of food and non-alcoholic beverages soared.

 

The NBS shared the inflation data in its consumer price index (CPI) report on Wednesday.

 

“Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline inflation rate,” the NBS said.

 

“On a year-on-year basis, the headline inflation rate was 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.”

 

Details later…

READ  Cash scarcity: Banks comply with CBN’s directive to operate on weekends
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Naira notes printing: Court grants Emefiele N300m bail

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A federal capital territory high court has granted bail to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), in the sum of N300 million.

 

The Economic and Financial Crimes Commission (EFCC) arraigned Emefiele on a four-count charge before MaryAnn Anenih, the presiding judge, on Tuesday.

 

Emefiele pleaded not guilty to the four-count charge when it was read to him.

Moving an application for bail, Mahmud Magaji, counsel to Emefiele, asked the court to grant his client bail on self-recognition and on the same grounds and conditions of bail already granted him by a coordinate court presided over by Hamza Muazu.

 

He added that the defendant will always be in court to face trial.

 

In her ruling, Anenih granted the former CBN governor bail in the sum of N300 million, with two sureties in like sum.

 

The court said the sureties must be residents of Nigeria and owners of properties within the Maitama district of Abuja, and that they must possess an affidavit of means.

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Emefiele has also been asked to deposit his travel documents before the court. He is not permitted to leave the country without the permission of the court.

 

Anenih added that Emefiele should be remanded at Kuje Correctional Centre pending the fulfilment of his bail conditions.

 

The case has been adjourned to May 28 and 29 for continuation of trial.

 

The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.

 

In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.

 

Emefiele is alleged to have approved the printing of N684.5 million notes at the rate of N18.96 billion.

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UN approves extension of Nigeria’s maritime territory

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The United Nations (UN) has granted Nigeria sovereignty over additional square kilometres of maritime territory.

 

Nigeria made the submission in 2009 through the high powered presidential committee (HPPC) on the country’s extended continental shelf project.

 

Larry Awosika, a marine scientist and member of the committee, told President Bola Tinubu that the approval came after years of meticulous research on geophysics, geology and geography.

 

He added that diplomacy also helped to solidify Nigeria’s legal rights over a vast expanse of seabed and subsoil beyond its traditional territorial waters.

 

Awosika spoke on Tuesday in Abuja while presenting the approval report alongside other members of the HPPC, according to a statement issued by Ajuri Ngelale, presidential spokesperson.

 

The professor said the economic potentials of the newly acquired territory are vast, including increased investments in hydrocarbons, gas, solid minerals, and a wide variety of sedentary species.

 

Aliyu Omar, committee secretary, said the new approved area “is about 16,300 square kilometres, which is about five times the size of Lagos State”.

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Omar added that the official notification of the decision was conveyed to Nigeria by the UN Commission on the Limits of the Continental Shelf (CLCS) in August 2023, shortly after Tinubu assumed office.

 

”The first option is to take the area gained and finalize the registration with the UN Secretary-General and close everything, meaning that we are satisfied with what we got. This will take at least one year,” the surveyor said.

 

”The second option is to take what we have right now, acquire more data, do a support write-up, and make a revised submission as recommended by CLCS for further consideration. This will take another four years.

 

”Either way, Nigeria will keep what has been approved.’’

 

Tinubu lauded the achievements, saying it reflects Nigeria’s economic and strategic interests.

 

‘‘This is big congratulations for Nigeria,’’ he said.

”I commend the team, and we must take advantage of this and invite you again to have a repeat of this knowledge exploration on geography, hydrography, and the marine life.

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”Nigeria is grateful for the efforts that you put into gaining additional territory for the country without going to war. Some nations went to war, lost people and economic opportunities.”

 

Tinubu said his administration will continue to pursue the best options for the country.

 

Femi Gbajabiamila, chief of staff to the president; Adegboyega Oyetola, minister of marine and blue economy; and Hassan Tukur, HPPC chairman; also attended the meeting.

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