Naira Swap Crisis: Tinubu Suggests 6 Points To Ease Hardships Across Nigeria

February 12, 2023

Presidential candidate of the ruling All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu has suggested six points that should be adopted with a view to ease the hardships being experienced by the people.

In a statement he personally issued today, February 12, Tinubu asked the CBN, in consonance with the advice of the Council of States, to announce that the old and new Naira notes (especially the non-withdrawn notes and coins) will co-exist as legal tender for the next 12 months to follow examples of countries that have successfully implemented similar monetary policy.

“This will immediately remove growing tension in the country, eliminate panic reactions by the populace and allow time to scale up infrastructural gaps around alternative payment options to cash.”

The APC presidential flag bearer also advised the immediate suspension of associated charges on online transactions and bank transfers and payments via POS until the current crisis is fully resolved.

“This cost should be considered a roll-out expense by the CBN to incentivise the envisaged shift to alternative transaction channels; for both the financial services consuming public and those in charge of implementing the scale-up programme.”

He stressed the need to mobilize all Money Deposit Banks, Payment platforms to show clear commitment and timelines on expanding their infrastructure and support services.

Tinubu also suggested that Fintech companies should be invited to use its capabilities in currency swap programme for the next 90 days to help decongest banking halls and ATM points where people line up for hours.

“The Central Bank and other relevant MDA’s should form an Inter-Agency Action Committee for immediate oversight over the cash supply gaps from the Nigerian Security and Minting Company and deal with issues around capabilities and turnaround time to meet the needs of the informal sector and unbanked people.

“The CBN, National Orientation Agency and Ministry of Information, State and Local Governments with their relevant organs in both the public and private sectors should commence a major public enlightenment and sensitisation campaign to further educate and empower our people on the new naira and cashless policy for better understanding and mainstream adoption.”

Tinubu expressed worried that the past few weeks have been a challenging one for Nigerians, especially the SMEs, poor and vulnerable masses and those whose very survival depend on daily cash transactions.

“They have felt the brunt of the combined problems of scarcity of fuel and new Naira notes.

“We feel the pains of our market women and artisans who have experienced low sales because customers do not have cash to make purchases.

“We hear the loud cries of farmers in rural areas and hinterlands who have been forced to sell their produce at much lower prices so they don’t lose out completely. We hear every Nigerian dealing with the consequences of the roll-out of the cash swap programme.

“While the scarcity arising from the supply limitations of the new naira notes is still with us, we are encouraged about reports that the fuel queues across the country are easing out as a result of better supply to fuel stations.

“We are now confronted with how to bring quick, sustainable solution, and relief to Nigerians on the challenges still posed by the non availability of new Naira notes, so that social and economic activities can move on unimpeded and normalcy can immediately return to our financial services sector and overall productivity of our nation.

“In seeking a quick resolution, the National Council of State met on Friday, February 10, 2022 and advised the government and Central Bank in particular, to push more new Naira notes into circulation and also allow for the old notes to remain a legal tender by ensuring supply gaps relative to infrastructural limitations are bridged by recirculating it to ameliorate the pains caused by the scarcity of new ones.

“We agree with the wisdom of the Council of States as a necessary starting point to begin redressing the unintended consequences of what would have otherwise been a good policy that required mainstream adoption. For the records, I and my running mate, Senator Kashim Shettima and our campaign council do not have anything against the CBN Naira redesign and cashless policy in principle.

“We are, however, only concerned about its disruptive implementation and the hardship it has brought on the generality of our people who currently can’t access their hard-earned money to meet obligations and the attendant consequences on the informal sector, where majority operate.”

The APC candidates said however that despite the challenges and current difficulties, Nigerians are a country of resilient, bold and courageous people who don’t succumb to hard times.

“We have always overcome our most difficult times and come out better as a people and a nation. This time will not be different. We will make lemonade out of our current lemons.”

Tinubu said that as leaders, “our commitment to our country everyday must be on how to make life better for our people and we are called upon not to waste the opportunity the moment presents to us to ramp up capacity and capability to serve 200 million Nigerians, leaving no one behind and ultimately improve the living conditions of every single Nigerian.

“Our task now is to restore hope in the country by implementing these steps to energise our people that we can do big things for a better future and shared prosperity. We can build upon this citizen-focused policy challenge to offer a template on how governance should work for the people.”

Atiku Wants DSS, Security Agencies To Probe Fani-Kayode’s Military Coup Story

Editorial staff

February 12, 2023

The Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar has called on the Department of State Services (DSS) and the Police to probe Femi Fani-Kayode, a chieftain of the All Progressive Congress (APC) over the allegation of coup plot which (Fani-Kayode) linked him (Atiku) to, ahead of the 2023 elections.

Today, February 12, Atiku requested the DSS and police to get the details of the alleged coup from Fani-Kayode who is the director of Special Projects and New Media of the Tinubu/Shettima Presidential Campaign Council.

A statement by Atiku’s Special Assistant on Public Communications, Phrank Shaibu said that the insinuations of a plan to overthrow an elected government should not be taken lightly.

According to him such a plot should be regarded as treason, an offence that carries death penalty, even as he commended the Nigerian military for “effectively rubbishing Fani-Kayode’s barefaced lie.

“No! Fani-Kayode cannot recant. We refuse to accept that. He who comes to equity must come with clean hands. He who comes to the Lord must come with contrition.”

He insisted that contrition requires remorse and confession and if the APC campaign director wants Nigerians to take him seriously, he should confess that he lied or prove he did not.

“This man, who has vilified many people through his lies, wants to get acceptance without doing penance for an act of wickedness motivated by finance!”

Atiku’s spokesman recalled that when the late ex-Deputy Governor of the Central Bank, CBN, Obadiah Mailafia alleged that a serving governor was a Boko Haram commander, he was invited multiple times by the DSS and the police.

He said that Fani-Kayode has also made a claim that borders on security and must be invited to expatiate as failure to do so will be partisanship and could be seen as preferential treatment for the former minister because he is a member of the ruling APC.

Fani-Kayode had alleged that Atiku and some top military generals had a secret meeting last week and planned to scuttle the 2023 general elections, which the Defence Headquarters had since denied.

Director of Information, Brigadier General Tukur Gusau said those “spreading unfounded misinformation” will be invited by law enforcement agencies to substantiate their claims.

Tinubu Stood By Us When Northern Leaders Abandoned Us –Son Of Ex Gov Nyako

Editorial staff

February 12, 2023

Son of former Governor Murtala Nyako of Adamawa State, Senator Abdulaziz Nyako has said that the All Progressives Congress (APC) Presidential candidate, Asiwaju Bola Tinubu, stood by his family in their difficult moment after the impeachment of his father.

Speaking to newsmen at a town hall meeting in Yola, Adamawa State today, February 12, Senator Abdulaziz Nyako said that Tinubu and ex-Senate President Bukola Saraki came to his father’s aid after being impeached on July 15, 2014, after his defection from the Peoples Democratic Party (PDP) to the APC.

He said that while Saraki and Tinubu stood by his father, Northern leaders, including members of his G-5 group that fought Jonathan, refused to give his father temporary shelter in their states.

According to him, Tinubu and Saraki staked their necks to facilitate Nyako’s escape to London, where he lived in exile until President Muhammadu Buhari was sworn-in in 2015.

“Asiwaju and Saraki helped Admiral (Nyako) to leave the country. In fact, it was Asiwaju’s son that paid for his (Admiral Nyako’s) accommodation in London.”

The senatorial candidate said that at a time, Tinubu’s camp canvassed his vote for Ahmad Lawan for Senate presidency as against Saraki, he told them that he could not trade Saraki for anybody except Tinubu himself.

Source: Daily Trust.

Oba Of Benin Bacomes Chancellor Of Bayero University Kano, Receives Doctorate Degree

Greenbarge Reporters

February 12, 2023

The Oba of Benin, in Edo State, Omo N’Oba N’Edo, Uku Akpolokpolo, Oba Ewuare II, has been installed as the fourth Chancellor of Bayero University, Kano State.

He was also awarded the Doctor of Law degree (Honoris Causa) by the university, at the 36th and 37th combined convocation ceremony of the university in Kano yesterday, February 11, where 16,581 students graduated with various degrees.
Executive Secretary of the National Universities Commission (NUC), Professor Abubakar Rasheed, who performed the installation of Oba as Chancellor on behalf of the university’s visitor cum Nigeria’s President, Muhammadu Buhari, said that the university is lucky to have the seasoned diplomat as its chancellor, who he said would bring his wealth of experience to bear in discharging his duties.
The President congratulated the Oba on the twin honour of being the chancellor and being awarded the Doctor of Law degree (Honoris Causa) by the university, in successive order.
The visitor appealed to the Kano State Governor, Abdullahi Ganduje, to intervene in the crisis between the host community and the university over land encroachment.
In his address, the Benin monarch pledged his commitment to the advancement of teaching, learning, and research in the institution.

He also promised to focus on attracting interventions to improve the fortunes of the institution.

Supreme Court Warns Farooq Kperogi Against ‘Attacks’ On Judiciary

Editorial staff

February 11, 2023

The Supreme Court of Nigeria has warned Farooq Kperogi, a Nigerian professor based in the United States (US) against “unwarranted attacks” on the Nigerian judiciary.

Kperogi had criticized the Supreme Court over its recent judgment that confirmed former Governor of Akwa Ibom State, Godswill Akpabio and Senate President Ahmad Lawan as senatorial candidates of the All Progressives Congress (APC) in the February 25 elections.

In an article titled: “Lawan and Supreme Court of Shameless Judicial Bandits” which Kperogi authored and shared on social media platforms, he described the apex court “as the most hopeless Supreme Court in the history of the world’s supreme courts.”

And in a statement today, February 11, by the Supreme Court’s Director of Press and Information, Festus Akande, the apex court warned Kperogi and other Nigerians against attacking the judiciary, especially the Chief Justice of Nigeria (CJN) Justice Olukayode Ariwoola.

Akande described Kperogi’s piece as an “an ineptly poorly scripted toxic article” that exposed “his irredeemable ignorance” about the law “with a view to pleasing his paymasters.”

He added that the silence of the Supreme Court over unwarranted attacks “must not be mistaken for weakness or cowardice.”

Akande frowned at Kperogi’s choice of words and cautioned Nigerians against violating the rights of others in the course of expressing their sentiments.

“Even in a state of emotional disequilibrium, we should be reasonable enough to make a good choice of decent words, as every word employed by the pen-happy Kperogi only succeeded in portraying the kind of vacuum that sign-posts all that he has as academic accomplishment.

“Certainly, every Nigerian citizen has an inalienable right to express his or her opinion without any encumbrance; but even in the course of expressing such fundamental right, we should be circumspect enough to observe the caution gate of self-control in order not to infringe on another person’s right.”

The Supreme Court spokesman said that all matters brought to Nigerian courts are thoroughly analysed and considered based on their merits “and not the faces that appear in court or sentiments that attempt to becloud the sense of reasoning”.

“So, for anyone in his or her right frame of mind to insinuate that the Justices have been bought over by some unknown and unseen persons is, to say the least, a bizarre expression of ignorance, which definitely has no place in law or even in the realm of pedestrian reasoning.”

Source: ICIR.

1.6 Million Candidates Register For JAMB 2023 UTME

Editorial staff

February 11, 2023

The Joint Admissions and Matriculation Board (JAMB) has announced the registration of no fewer than 1.16 million for candidates seeking for admission in the 2023 Unified Tertiary Matriculation Examination (UTME).

The board’s registrar, Is-haq Oloyede, who said this while taking a tour of some computer-based test (CBT) centres in Abuja today, February 11, said that the board would not extend the deadline for the 2023 UTME registration.

Oloyede warned CBT centers against extorting unsuspecting candidates.

“UTME is not a school-based examination, but for individual candidates,” the registrar said.

“See what that school, Stella Maris is doing. (They are) collecting N30,000 from candidates in the name of JAMB and then end up missing the telephone number of the candidates.

“It is unlikely that we are able to reach candidates when we contact them to make a change in their timetable.

“You send a text to them and it will not get to them. After they have graduated from the school and want to change course, they don’t have access to it and that is a way of extorting the parents.”

The JAMB registrar warned that any CBT centre found guilty of extortion will be sanctioned.

He urged candidates to report cases of extortion via a code that has been provided by the board.

“We will take adequate steps to make sure that we stop that,” the board said.

“One of the reasons is that we will tell every CBT center to stop doing bulk purchases of pins and bulk registration.

“So if the center sells more than one pin to a source or collects money for more than one pin from a source then we will sanction such a center.”

Earlier this month, JAMB suspended three UTME pin vendors in Lagos over extortion of candidates and cancelled the UTME registrations of 817 candidates in the country over impersonation.

Source: Cable News.

APC, PDP Supporters Clash In Jigawa, 1 Person Confirmed Dead

Editorial staff

February 11, 2023

The Jigawa State Police Command has confirmed the killing of one person during a clash between the supporters of the ruling All Progressives Congress (APC) and Peoples Democratic Party (PDP) in Maigatari town, Maigatari Local Government Area of the state.

This was contained in a press statement made available to newsmen in Dutse, the state capital, by the Police Public Relations Officer (PPRO), DSP Lawal Shi’isu Adam.

The statement read: “On Friday 10th February, 2023 at about 18:20 hours, the PDP gubernatorial candidate was at Maigatari for a political campaign rally.

“As they arrived APC secretariat, clashes erupted between the supporters of the two political parties, and the Santuraki Vanguard attacked one Abdullahi Isyaku age 35 of Gangare quarters in Maigatari town.”

The police command spokesperson said that the victim was rushed to Gumel General Hospital where he later died.”

DSP Lawal Shi’isu Adam said that five suspects were arrested and investigation is on going at the State Criminal Investigation Department at the command’s headquarters.

New Notes: CBN Accuses Fake News Merchants Of Trying To Pitch Public Against It

Editorial staff

February 11, 2023

The Central Bank of Nigeria (CBN) has raised alarm over what it called fake news merchants, trying to clash it with Nigerian public on the redesigned naira notes.

The apex bank said that while it appreciates the concerns shown by all stakeholders about the distribution of the Naira, “we are alarmed at the extent to which vested interests are attempting to manipulate facts and pitch the public against the Bank.”

In a statement today, February 11, reacting to what it described as false claims about the capacity of NSPMC Plc, and alleged threats to close some Deposit Money Banks, the Director of Corporate Communications, Osita Nwanisobi said that for the avoidance of doubt, the CBN remains committed to performing its monetary policy functions, as stipulated in the CBN Act, 2007, as amended.

“We also wish to restate that the NSPMC has the capacity and enough materials to
produce the required indent of the Naira.

The statement complained about the misleading, misquoting the CBN Governor, Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting Company Plc.
“We wish to state categorically that at no time did the CBN Governor disclose
this during his presentation to the National Council of State at its meeting on
Friday, February 10, 2023.
“For the records, what Mr. Emefiele told the meeting was that the NSPMC was
working on printing all denominations of the Naira to meet the transaction needs
of Nigerians.

“While the CBN appreciates the concerns shown by all stakeholders about the
distribution of the Naira, we are alarmed at the extent to which vested interests
are attempting to manipulate facts and pitch the public against the Bank.
For the avoidance of doubt, the CBN remains committed to performing its
monetary policy functions, as stipulated in the CBN Act, 2007, as amended. We
also wish to restate that the NSPMC has the capacity and enough materials to
produce the required indent of the Naira.
“The Bank, therefore, wishes to appeal to the public to disregard the said report
and exercise more restraint, even as we work assiduously to increase the
circulation of the new notes in the country.
“Similarly, there is a misleading voice note trending in social media alleging that
the CBN planned to shut down some banks, particularly in a particular geo-
political region of the country.

“We wish to state unequivocally that there is no such plan and that the claims
are illogical and do not comply with the workings of the Nigerian banking
system. The public is therefore advised to ignore such recordings as they do
not represent the policy thrust of the CBN and are only the desperate attempts
of persons bent on inciting the public against the Bank.”

PDP Expels Nnamani, Ex Gov. Fayose’s Son, 4 Others, For Alleged Anti-Party Activities

Editorial staff

February 10, 2023

The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has expelled the former Enugu State Governor, Chimaroke Nnamani, and five others from the party for alleged anti-party activities.

The PDP National Publicity Secretary, Debo Ologunagba, who confirmed the development in a statement today, February 10, in Abuja, listed the other affected persons as John Fayose (son of the former Governor of Ekiti State), Ajijola Oladimeji (Ekiti Central), Olayinka Olalere (Ekiti Central II), Akerele Oluyinka (Ekiti North I), and Emiola Jennifer (Ekiti South II).

The party had last month suspended the former governor and eight other persons for alleged anti-party activities.

The party later lifted the suspension of two members who incidentally were the National Assembly candidates from Ekiti State.

Following the suspension, Nnamani declared his support for the All Progressives Congress (APC) presidential candidate, Bola Ahmed Tinubu, earlier this month.

The PDP statement read: “The National Working Committee of the Peoples Democratic Party at its 566th meeting today, Friday, February 10, 2023, approved the expulsion of the following individuals from the Party for anti-Party activities and other grave offences in violation of the Constitution of the PDP (as amended in 2017).

“The expulsion takes effect from today, Friday, February 10, 2023. The decision of the NWC is a sequel to the recommendation of the National Disciplinary Committee and pursuant to Sections 58 and 59 (1)(g) of the PDP Constitution (as amended in 2017).

“The PDP charges all members of our Party across the country to remain united and focused on the mission of our Party to Rescue, Rebuild, and Redirect our nation from misrule.”

2023: Sense Of Desperation Amongst Political Contestants Is Source Of Concern -Group

Editorial staff

February 10, 2023

The International Crisis Group (ICG) has expressed serious fear that besides other factors, the sense of desperation amongst the major political contestants in Nigerian is now a source of rising tension among them and concern about how the losing parties’ candidates and supporters may react to defeat.

The group said: “The sense of desperation pervading the camps of all three front runners is a source of rising tension among them and concern about how the losing parties’ candidates and supporters may react to defeat.”

In a 26-page report titled: ‘Mitigating Violence Around Nigeria’s 2023 Elections,’ published today, February 10, the global conflict prevention and peace-building group, listed other threats to the elections to include insecurity, Insecurity, rancour amongst political parties, scarcities of fuel and the redesigned national currency

ICGalso listed as factors that can mar the election to include the activities of various armed groups – Boko Haram and Islamic State West Africa Province (ISWAP) in the North East, bandits in the North West and Biafra secessionist agitators and criminal impostors in the South East.

The report observed that intense acrimony, especially among the three major parties, has raised tensions across the country, with numerous incidents of violence that could escalate further during and after the polls.

The Crisis Group also said that the elections are further being challenged by the recent scarcities of motor vehicle fuel and the redesigned naira notes.

The organisation warned that the situation could hamper election logistics, adding that hardship caused by these scarcities could render many voters more vulnerable to vote-buying.

The report said that the governing APC, a coalition that wrested power from the PDP in 2015, wants to retain the presidency for several reasons, including the fear that if it loses control of the top office, the party could disintegrate.

“The PDP, out in the cold for the past eight years, sees the end of President Buhari’s faltering administration as its best opportunity to recapture the centre. Losing a third presidential election in a row could also have deleterious effects on its future.”

Crisis Group says a peaceful election is crucial to the country’s cohesion and to its credibility in discouraging unconstitutional seizures of power elsewhere in Africa.

“A violent or disputed vote could aggravate Nigeria’s governance challenges and diminish its status as a democratic leader on the continent.”

The report highlighted another major threat to the elections as violence arising from inter-party tensions.

“Some of the factors underlying the friction are not new. Since Nigeria’s return to civilian rule in 1999, many people have made huge amounts of money by winning elected office.

“Unsuccessful candidates sometimes take large financial losses. With the stakes extremely high, many rally supporters with the mindset of winning by all means.

“Several other factors are particularly troubling. First – perhaps more than in the past – all three main parties are bent on victory, albeit each for its own reasons.”

It said that as a way of mitigating risks and ensure credible polls, federal security agencies should step up operations against non-state actors and to ensure adequate protection for offices of the Independent National Electoral Commission (INEC).

The body called on parties, candidates and supporters to tone down their inflammatory rhetoric and re-focus their campaigns on the real issues that matter to the electorate, particularly the economy and security.

The report also called on the federal government to urgently boost supplies of fuel and currency notes and ensure they are adequately available, well before the elections.

The Group asked Nigeria’s foreign partners to sustain support for free and fair elections, including sanctioning those who incite attacks, through travel bans and other means.

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