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Naira redesign: Buhari has limited knowledge about the economy, says Shehu Sani

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A former senator representing Kaduna central, Shehu Sani, has said President Muhammadu Buhari has limited knowledge of economics.

Speaking while appearing on Arise TV, on Tuesday, Sani said the naira redesign policy has brought suffering to Nigerians.

He said there should have been a wide consultation beyond getting approval from the president before the introduction of the policy, noting that the country is in “a man-made economic turbulence”.

“But what is wrong in this policy is that there should have been a wide consultation. It’s not simply about the CBN governor going to the president to get his approval over an issue that I believe that the president of the country has limited knowledge of because he is not an economist,” Sani said

“Secondly, I expected that before such a decision was made, there could have been a wide consultation with the national assembly and also the civil societies. By doing that, you are carrying the whole country along and then ideas will be crystalised and then problems that may arise will be predicted and then they can be solved.

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“But for now, all that we have known was that the governor of the central bank has made it very clear that all he needed was the approval of Mr President and then he got it and now everyone is paying the price.

“Well, to be fair, if this redesigning of the naira and the cashless policy is about combatting or containing vote-buying, that is a very good initiative. But the fallout or the consequences of it on the other side is that people are suffering, and you don’t know which of the notes to accept.

They will tell you today you can use the old notes and you go to buy things the money is not available and if you have to use the cashless system, sometimes the alert doesn’t come in time and as such, the whole transaction in the country has become a problem.

“Even our communities in the border areas now are using currencies like the Cefa and other currencies from other countries and then as we have heard people in rural areas have resorted to trade by barter. So, we have just gotten ourselves into an economic turbulence that is man-made that is designed and then it could have been avoided.

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“There was a time when we raised our voice and said you can redesign the naira, you can implement cashless policy, but why don’t you get ideas from the civil society, from traders, from marketers, from industrialists, from the economists, from the general public so that we would all be carried along and then everyone will now give his own input on how these issues can be tackled.

“And how can the people that have paraded themselves as experienced in managing finance, banks, and whatever get us to this kind of situation?”

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Anxiety grows in Iran amid search for location of president’s helicopter 

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Search teams have yet to find the missing helicopter with Iranian President Ebrahim Raisi aboard.

 

The chopper, which also had Hossein Amirabdollahian, foreign minister; Malek Rahmati, governor of East Azarbaijan province; and Hojjatoleslam Al Hashem, Tabriz Friday prayer leader, on board, crash-landed Sunday afternoon in the Varzaqan region.

 

Over 20 search and relief teams were immediately dispatched to the area to find the missing helicopter, including drones and sniffer dogs.

 

The Iranian armed forces have also deployed commando units and special forces to assist in the search operation. However, foggy weather and the impassability of the area have frustrated efforts.

 

Babak Yektaparast, the spokesperson for Iran’s emergency services, said an emergency helicopter was dispatched to assist but was forced to turn back due to the heavy fog as it could not land in the area.

 

“Unfortunately, continuing aerial operations was no longer possible due to intense fog across the region,” he said, adding that more ambulances were dispatched.

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Ayatollah Khamenei, Iran’s supreme leader, urged citizens to pray for the president and everyone aboard the chopper.

 

“The  Iranian nation must not be concerned or worried; there will be no disruption in the work of the country,” Khamenei said.

 

Iraq and Armenia, both neighbouring countries, have offered support in locating Raisi.

 

The US said it is watching reports and added that President Joe Biden has been briefed.

 

 

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DR Congo army foils ‘coup attempt’

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The Democratic Republic of Congo (DRC) army says it has repelled an attempted coup d’etat.

 

The army said Congolese and foreign fighters were involved in the coup which was reportedly thwarted on Sunday morning.

 

Sylvain Ekenge, the DRC army spokesperson, spoke in a televised address on the state-run RTNC TV.

 

“An attempted coup d’etat has been put down by the defence and security forces. The attempt involved foreigners and Congolese. These foreigners and Congolese have been put out of action, including their leader,” Ekenge said.

 

Ekenge said several suspects have been detained and the “situation is now under control”.

 

The army spokesperson did not give further information about the incident.

 

His statement comes hours after armed men attacked the house of Vital Kamerhe, former chief of staff and close ally of President Felix Tshisekedi.

 

Kamerhe’s residence is about two kilometres from the presidential palace.

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Michel Muhima, Kamerhe’s spokesperson, had said the gunmen clad in military uniform engaged the politician’s guards in a shootout, leaving three people dead.

 

Muhima said two of the deceased were police officers attached to Kamerhe while the other was one of the attackers.

 

The unrest in the country comes amid a dispute in the ruling party over the postponement of an election for the leadership of the country’s national assembly.

 

President Tshisekedi met with parliamentarians and party leaders on Friday in a bid to resolve the crisis.

 

Tshisekedi was reelected as president in December 2023.

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20 rescue teams and drones sent to Iranian president helicopter crash site

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Twenty rescue teams and drones have been sent to the area where a helicopter carrying Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian crashed on Sunday, according to Iranian state news agency IRNA.

 

The pair, along with a group of dignitaries, were aboard the helicopter returning from a ceremony for an opening of a dam on Iran’s border with Azerbaijan when the aircraft “crashed upon landing in Varzaqan region on Sunday,” IRNA English reported.

 

“20 rescue teams and drones have been sent to the area, but due to the impassability of the area, its mountainous and forest conditions, as well as unfavorable weather conditions, especially heavy fog, the search and rescue operation will take time,” IRNA said.

IRNA also reported, citing locals, that the helicopter crashed in the Dizmar Forest area between the villages of Ozi and Pir Davood. Residents said they heard noises from the area, it added.

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Iran’s interior minister Ahmad Vahidi said one of the helicopters in a convoy was forced to make a hard landing due to foggy weather conditions.

 

“Now different rescue groups are moving toward the area, but given that it is foggy and the unsuitable weather and the conditions, it may take some time until they reach where the helicopter is,” said Vahidi during a televised address posted on Telegram by IRNA.

 

He added that there had been some contact with the passengers on the helicopter, but did not have further details.

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