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BREAKING: Buhari extends validity of old N200 notes till April 10

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President Muhammadu Buhari has announced the extension of the validity of old N200 notes till April 10.

Announcing the development in a televised nationwide address on Thursday, the president said all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN) and designated points.

“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender,” the president said

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Some varsity students kidnapped by gunmen have been rescued, says Kogi government

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The Kogi state government says some students abducted from the Confluence University of Science and Technology (CUSTEC) Osara have been rescued.

 

The government said the kidnappers “succumbed to superior firepower and escaped with gun wounds”. 

 

On May 9, gunmen invaded the university and abducted students who were preparing for their examinations.

 

The state government had said nine students were missing after the attack.

 

Usman Ododo, governor of Kogi, had visited the institution and assured parents of his commitment to rescue the students.

 

Ododo had also said closed circuit television (CCTV) cameras installed in the school were switched off on the night of the attack.

 

In a statement issued on Sunday, Kingsley Fanwo, information commissioner, said some of the students have been rescued by a joint team of security operatives and hunters.

 

Fanwo did not release the specific number of students rescued.

 

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William Aya, police spokesperson in Kogi, told TheCable on Sunday morning that 14 students have been rescued.

 

“This is to inform the general public that some of the students abducted by gunmen at the Confluence University of Science and Technology, Osara have been rescued safely by local hunters and other security agents,” the statement reads.

 

“Local vigilante men and security agents engaged the kidnappers in a fierce shootout and the kidnappers succumbed to superior firepower and escaped with gun wounds, leaving the kidnapped students who also ran in different directions to avoid being caught up in the fire exchange.

 

“Many of the students kidnapped and even other people in captivity have been rescued and taken to medical facilities for proper attention, while many others were also rescued in the early hours of today.”

 

He said a hunter and DSS operative sustained injuries during the firefight with the kidnappers, adding that they are receiving medical attention.

 

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Fanwo said security agents are “currently combing the forests” to rescue the remaining students in captivity.

 

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29 Generals retire from Nigerian Army

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Twenty-nine generals of the Infantry Corps of the Nigerian Army have retired from active military service.

 

Of the 29 retired infantry officers who pulled out of active service at the Jaji Military Cantonment in Kaduna State on Friday, 19 were major generals, and 10 were brigadiers general.

 

Among them is Major General Victor Ezugwu, who spoke on behalf of the retirees. He said the war against terrorism banditry will end if the proposed establishment of army aviation succeeds and the night fighting capabilities of the army infantry corps are improved.

 

As the threats to Nigeria’s sovereignty are becoming asymmetric in time and space, Ezugwu admonished serving officers and soldiers to be proactively way ahead of the enemies in all aspects of unfolding combat scenarios.

He also urged their successors to not only sustain the modest strategic, operational, and tactical achievements made but also to surpass them.

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“The frontline is expanding and the Nigerian Army is becoming increasingly committed with the eyes of the nation and the world on it,” he said.

“Our Infantry Corps must therefore not relent or rest on her oars as the entire Nigerian Army depends largely on the Infantry Corps to achieve its core mandate and mission.

 

“I admonish the Infantry that as the threats to Nigeria’s sovereignty are becoming asymmetric in time and space, you must be proactively way ahead of our adversaries in all aspects of the unfolding combat scenarios,” he added.

 

While calling on the Infantry Corps to review some of its tactical and operational strategies in the areas of night fighting capabilities, and frontline intelligence gathering on enemy activities, Ezeugu advised the corps to strengthen basic field crafts training in the areas of aggressive fighting patrols to dominate at least 5 km radius of their locations, ambushes, listening and observation posts as well as all levels of battle drills.

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Tinubu’s tax reforms not to frustrate Nigerians — Shettima

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Vice President Kashim Shettima says Nigeria’s tax reforms under the administration of President Bola Tinubu is targeted at improving the system for the overall benefit of all Nigerians.

He said contrary to speculations in some quarters, “we are not here to frustrate any sector of our economy but to create an administrative system that ensures the benefits of a thriving tax system for all our citizens.”

The Vice President, represented by the Special Adviser to the President on General Duties (Office of The Vice President), Aliyu Moddibo Umar, spoke on Saturday at the close-out retreat of the Presidential Fiscal Policy and Tax Reforms Committee held at the Transcorp Hilton, Abuja.

According to a statement by his spokesman Stanley Nkwocha, the Vice President explained that the policy thrust of the Tinubu administration’s tax reforms, pointing out that the dynamics of the nation’s fiscal landscape prompted the Tinubu administration to pause and reconsider the direction it was going.

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“Our aim remains the revitalisation of revenue generation in Nigeria while sustaining an investment-friendly and globally competitive business environment,” he noted.

 

While expressing confidence in the ability of the committee to deliver on the mandate, the Vice President emphasised the significance of the task ahead, noting that “we are gathered today because we are transitioning from the phase of proposal in the operations of this committee’s work to the phase of implementation.

 

“I am confident that both the federal and state governments stand ready to ensure the effective implementation of your reform proposals, and we shall provide the institutional framework to guarantee the adoption of the consensuses of this committee, aligning them with our economic agenda,” he added.

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