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CBN Gov Stands On February 10 Deadline For Legal Status Of Old Naira Notes

Contrary to reports that trended in media today, January 31, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has maintained the stand that the February 10 deadline for legal tender status of the old naira notes will not change even as he assured that no Nigerian will lose money under the Naira redesign project.

The Governor, who in a statement said that the project is in the overall interest of Nigerians and the economy, gave the assurance during a meeting with the ad-hoc committee of the House of Reps on the review of the Bank’s cashless policy and extension of the timeframe of the currency swap programme of the Bank.

Emefiele said that subject to the provision of Section 20(3) of the CBN Act, Nigerians would be given the opportunity to redeem the face value of the Naira in their possession after the currency would have lost its legal tender status on February 10, 2023, deadline only at the CBN.

Reiterating that Nigerians will not lose their money, the CBN boss sought the cooperation of the National Assembly to ensure the success of the programme.

He reeled out the steps taken by the Bank to ensure the effective distribution of the new banknotes, saying that about N1.9 trillion had so far been collected since the commencement of the exercise.

According to him, the currency redesign policy had so far recorded about a 75 per cent success rate given the fact that many of those in the rural and underserved locations across the 36 states of the country have had the opportunity of swapping their old banknotes for the new series of the banknotes.

Emefiele, who was accompanied to the meeting by all the four deputy governors at the Bank, disclosed that the Bank had deployed about 30,000 super agents to work with the Bank’s staff currently in the hinterland to ensure that the underserved and vulnerable members of the society are adequately catered for.

The CBN Governor also disclosed that the CBN was working closely with relevant agencies of the Federal Government to ensure full compliance with the CBN guidelines issued to the deposit money bank for the seamless distribution of the new banknotes.

Speaking earlier, the Chairman of the Special Ad-hoc committee, Ado Doguwa, expressed the support of the House of Representatives for the cashless policy of the Bank, stressing that the House would assist the CBN in achieving its mandate in that regard.

Dogowa welcomed the submission of the CBN Governor and stressed the need for more collaboration.

Dele Momdu Calls Gov Wike Coward; That Rotimi Amaechi Is Working For Atiku

A chieftain of the Peoples Democratic Party (PDP), Dele Momodu, has made a statement implying that the Rivers State Governor, Nyesom Wike, is coward, and that the immediate past minister of works under President Muhammadu Buhari, Rotimi Amaechi is working for the victory of the PDP Presidential candidate, Atiku Abubakar in the forthcoming Presidential election.

Momodu said: “Even if chief Bola Tinubu gets 25 percent in Rivers State, it is too little to help him win against H.E Atiku Abubakar, the only certified National candidate, and former Governor Rotimi Chibuike Amaechi and Mr Tonye Cole will take the credit… What a dead end!!”

He tweeted: “A coward Gov. Nyesom Wike, after a meeting, has told his caucus and local government chairmen in the state that he is not publicly naming his preferred presidential candidate. He directed them to work for Bola Tinubu of the APC and ensure he get 25%. Wike fears suspension.

“This news is such an anticlimactic case… After threatening for so many months, Governor Nyesom Wike could not announce his favorite and favored Presidential candidate GIDIGBA…

It was reported that Wike had in December 2022, promised to publicly name his preferred presidential candidate in January 2023 ahead of the February poll but failed after raising the hope of many Nigerians.

A former Nigerian journalist residing in Pennsylvania, Jackson Ude, in a tweet today, January 31, alleged that Wike is afraid of suspension and has directed his caucus and local government chairmen to support Tinubu.

Your Divisive Rhetoric, Insults Won’t Give You Victory At Polls, Presidency Tells PDP

The presidency has made it clear to the opposition Peoples Democratic Party (PDP) that its divisive rhetoric and futile attempt to malign the image of the President and the candidates of the All Progressives Congress (APC) in the coming elections, is not what will give the leadership of that party victory.

Reacting to what he called “fake reports of a stone-pelting incident” that took place in the Hotoro area of Kano on the day of the visit to the city by President Muhammadu Buhari on Monday, the President’s senior Special Assistant on media and publicity, Garba Shehu said that the PDP’s desperate attempt to wedge-driving activities to cause a division between the party and the government with Asiwaju Bola Ahmed Tinubu would not work.

“A so-called leading opposition party that controls 14 states, going into elections with eight or nine of the states in tow should look inwards to see why their campaign is flagging and destined to fail. Their defeat is a foretold story by many discerning individuals.”

Garba Shehu, in a statement today, January 31, said that the facts on ground on the incident in Kano, as rendered by the law enforcement agencies speak of a clash between the local road transport authorities, the Kano Road Transport Authority (KAROTA)  and thugs hired by a yet-to-be identified group that took place when the President was being treated to a banquet at the Government House, well after he had finished his projects commissioning.

He said that the President was in the state to work on the development, safety and security of the lives of common citizens and that the happy thing about it was that the good people of Kano State were appreciative of him for the progress the state and the nation at large are making under him.

“The stone-pelters as seen from the video in the fight against the traffic police were innocent children sponsored by politicians and terrorist sympathizers. There is no place for violence in a democracy.

“The PDP should use the opportunity of the electioneering to put their point of view in a democracy. When problems can be resolved through talks, there is no place for stone-pelting, arson and unruly behavior as we are witnessing in some of the campaigns.

“It is equally unhealthy for society and it becomes the duty of political, social and religious leaders to correctly inform the misled youngsters to shun the path of violence which is inimical to their own future.

“Lastly is to say that the President has not lost his command and respect in Kano. For those who hold the border closure against him, they must come to realise that the 60-70 integrated rice mills in the city today would not have been in place if he had allowed the free-for-all smuggling to continue.”

How We Stopped Boko Haram, Terrorists From Relocating To Abuja ―​​ Minister

The Minister of the Federal Capital Territory (FCT), Muhammad Musa Bello has said that the administration, working in conjunction with security agencies, has been able to stop Boko Haram,  terrorists and bandits from relocating to the nation’s capital.

Speaking today, January 30 in Abuja when he gave his administration’s scorecard in the 20th edition of the President Muhammadu Buhari Scorecard media series organized by the Minister of Information and Culture, Lai Mohammed, he said that despite the level of insecurity in the country, criminal activities have been curtailed in the FCT due to intensive crackdowns.

He said that the FCT government has provided necessary equipment to security agencies to boost their effectiveness in tackling insecurity.

He highlighted the FCT administration’s achievements, saying: “In the area of security of lives and property, you are all aware of the myriad of security challenges bedeviling the nation, such as; armed banditry, kidnapping, acts of terrorism and other criminal activities.

“The FCT administration in active collaboration with security agencies have been able to curtail the activities of those who tried to relocate to the territory from the various areas of operations arising from intensive crackdown in operation and the military.

“The Security agencies in FCT have been very alert and through regular tactical and kinetics operation have ensured that the criminals find no abode in FCT.

“The FCT Administration has intervened in providing firmly equipment and cognitive support to the security agencies from time to time.

“The FEC recently approved the procurement of security vehicles and gadgets for operational effectiveness of the security agencies.”

In the education sector, Muhammad Musa Bello said that the administration has constructed 64 schools, renovated 165 and employed 4,957 teaching staff and non-teaching staff.

Cashless Policy Will Help Track Election Financing – Vice President Osinbajo

Nigeria’s Vice President, Yemi Osinbajo, has said that when effectively operated, a cashless policy in Nigeria, will help stop the surge of illicit election financing by making it possible to track funds.

Speaking today, January 30 at the Presidential Villa, Abuja when he received a delegation of the European Union (EU) Election Observation Mission led by Barry Andrews, the Chief Observer, who is also a member of the European Parliament, Osinbajo said: “I think that we should be looking at providing more infrastructure. The cashless thing has been really advantageous and helps with tracking. That sort of infrastructure is useful for more financial inclusion and the more financial inclusion you have, the easier it is to track.

“So much money can be spent without it being tracked,” under the current election financing practices in the country.”

He acknowledged the serious difficulty in controlling election financing because of cash transactions, adding that there are still infrastructure issues required to be in place to ensure an efficient cashless system in the country.

“With cash transactions, it is still difficult to seriously control election financing.’’

On the issue of electoral offences, Professor Osinbajo pointed out that there is the Electoral Offences Commission Bill at the National Assembly.

“We hope that it will begin a new regime of dealing with electoral offences which would be helpful.

“By and large, one shouldn’t expect INEC to be the investigator of electoral offences. I think that law enforcement agencies should be responsible for arresting and prosecuting offenders, State by State.

“Electoral offences are always seen through a political prism; people will always feel that they are being prosecuted because they belong to a certain party.

“What is more important is that we have to find a system where the police could have a special unit for offences during the course of elections. The Federal High Courts could also have a special jurisdiction to deal with offences and not extend beyond the Federal High Courts.

Buhari Wonders Why Nigerians Don’t Appreciate The Greatness Of The Country

President Muhammadu Buhari has expressed surprise that Nigerians don’t appreciate the greatness of the country.
“We have a great country but we do not appreciate it until we visit our neighbors and other countries where the preoccupation is for people to have one good meal a day.”
The President, who spoke at a State Banquet in Kano to conclude his one-day official visit to the State after commissioning several projects executed by the Federal and State governments and the private sector, described ongoing infrastructure development across the country as ‘fantastic.’
He advised the citizens to appreciate what they have as the situation in the country is not dire when compared with other countries.
‘‘When I fly by helicopter, the number of high-rise buildings I see and the amount of development on the ground are fantastic. We thank God. We thank God. We thank God.”
President Buhari called on the elites to encourage and inspire young people to embrace education, saying whether we like it or not we are going to leave the country for them.
‘‘They must embrace education for education’s sake. Technology has made it possible for short cuts but nothing can replace real learning. Please encourage the children to learn.”
He congratulated Governor Abdullahi Ganduje of Kano State for doing very well on infrastructure, adding that his recent State visits to Kogi, Yobe, Lagos and Katsina have shown that the respective governors have done very well, within the confines of funds available to them.
On security, the President, who described Boko Haram as a fraudulent organization with links to international groups bent on destroying Nigeria, said his administration has succeeded in decimating the terror group, limiting their capacity to inflict harm.
Earlier, while paying homage to the Emir of Kano, Alhaji Aminu Ado Bayero, President Buhari urged Nigerians to respect traditional institutions and accord them the honour they deserve.
The President, who also inaugurated the Emir’s Council Chambers at the Palace, said of the traditional institution:
‘‘This system is good. It is good in the sense that our traditional institutions are respected and honoured.
‘‘It is very important that we have understood the politics and we are respecting people from the bottom to upwards and this is common sense because people matter.
‘‘What the children see now is what they will hope to be in the future and the older ones hope that they can make their influence felt and improve the governance in the country from bottom upwards.’’
He thanked the Emir of Kano for associating him with the success of the traditional institution, lauding him for the vast improvement in the lot of his people, since he ascended the throne three years ago.
The Emir of Kano, who underscored the importance of the visit, thanked President Buhari for granting approval to the Central Bank of Nigeria (CBN) to extend the deadline for the phasing out of old currency notes, and by implication the implementation of the cashless policy.
‘‘This is an indication that the President is focused on alleviating the plight of the citizenry and indeed a listening leader,’’ he said.
The Royal Father expressed appreciation to the Federal and States Government for the developmental projects in the State as well as the support to the Emirate.
He added that the ongoing electioneering campaigns should serve as an opportunity for politicians to understand the challenges facing the people and devise a means to solving them.
He prayed for peaceful elections, as well as peace and prosperity of the country.
The President had commenced his visit to the State with the inauguration of Dala Inland Dry Port hosted by Kano State Government in collaboration with the Federal Government.
The Inland Dry Port Project was conceived as part of the Federal Government’s Ports Reform Programme designed to decongest the seaports, while also taking shipping and port services closer to importers and exporters in the hinterland.
The President also inaugurated the Nigeria Sovereign Investment Authority (NSIA)-funded 10MW Haske Solar Plant in a 24-hectare land in Kumbotso Local Government of Kano State.
The plant, which links industrial customers to an additional power supply, represents a significant step towards efforts to provide clean, reliable, and sustainable energy for all Nigerians.
The 10MW plant is the largest completed solar plant in Nigeria and the first under the NSIA renewable energy platform.
President Buhari also commissioned the Family Homes Funds Estate, Darmanawa, Kano, which consists of 469 affordable housing units with ancillary infrastructure.
The inauguration is coming on the heels of the inauguration of the 2,600 Housing Estate on Potiskum road, Damaturu, Yobe State, a project executed by Family Homes in partnership with Yobe State Government.
On the Dala Inland Dry Port, the Minister of Transport, Mu’azu Sambo, recalled that in March 2006 the Federal Executive Council had granted approval for the establishment of this critical transport infrastructure at chosen locations across the country.
He said the infrastructure would undergo a concession to private sector operators on Public-Private-Partnership (PPP) with a strategic framework to Build, Own, Operate and Transfer (BOOT) model.
‘‘Dala Inland Dry Port at Zawachiki in Kano State was among the six Inland Dry Ports approved and the concessioned went to Messrs Dala Inland Dry Port Nigeria Limited.”
He said that the dry port has been designated a Customs port with all the prerequisites of an international port including Customs, Immigration, Port Health Officials and Government security agencies.
He thanked Governor Abdullahi Ganduje of Kano State for his investments on infrastructural development particularly, road networks amongst others which has made the Dala Inland Dry Port a reality.
Reiterating that the Dala Inland Dry Port (DIDP) is a Port of Origin and Final Destination, the Minister called on national and international maritime practitioners, shippers, shipping companies, landlocked countries and port users to take full advantage of this facility for import and export of their cargoes.
On the 10MW Haske Solar Plant, the Minister of Power, Abubakar Aliyu, described the solar plant as a significant achievement in Nigeria’s power generation, achieving the energy transition goal as well as increasing the share of renewable energy in the power mix.
The Minister revealed that the construction of the Zungeru Hydroelectric Power Plant project is almost completed, while other power plants projects are at various stages of completion.
Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed that over 16,000 houses have been successfully built in the past 4 years by Family Homes Funds Limited, under the guidance of the Ministry.
She recalled that the Ministry together with the NSIA established Family Homes Funds Limited with a structured approach to address the housing deficiency issue in the country.
‘‘We had a vision to support your government’s housing agenda by ensuring we cater for the low-income earners of Nigeria by providing quality houses that are affordably priced.”
According to the Minister, the agency now has a strong presence in all the six geopolitical zones and through its projects, created over 75,000 direct and indirect jobs.
‘‘There are completed and ongoing housing projects funded by Family Homes Funds in 12 states of the Federation and in the next two years, we intend to build additional affordable houses in all 36 states including the FCT.”
The President also commissioned the National Tier IV Data Centre under the supervision of Federal Ministry of Communications and Digital Economy, and office complex of Galaxy Backbone Limited in Kano.
‘‘The Tier IV Data Centre is the highest anywhere in the world and this is the best Centre in the country and the first in Northern Nigeria’’ Prof. Isa Ali Pantami, the Minister of Communications and Digital Economy, told the President at the unveiling of the plaque to commemorate the formal inauguration.”
Pantami added that the Datacentre, in the first stage, has a provision for storage of 2.2 petabytes and a possibility for expansion.
He also inaugurated the Cancer Treatment Centre at Muhammadu Buhari Specialist Hospital, Giginyum Muhammadu Buhari Road Interchange at NNPC Mega Station Hotoro and Aliko Dangote Ultra-Modern Skill Acquisition Centre, Zaria Road.

CBN Set Trap For Banks, Bankers Trying To Shortchange Cash Swap

CBN-Office-Abuja

“All new notes have tracking numbers to trace them back to State, Bank and Bank branches. So notes confiscated at parties and other locations can be traced back to the Bank and applicable branch.”
This is a trap which the Central Band of Nigeria (CBN) has set for commercial Banks and other financial institutions as well as the officials working in them, who engage in subverting the cash swap of the new naira notes.
In a set of guidelines released today, January 29, shortly after the Bankers Committee meeting in Abuja, CBN said that officials of the branches of banks who fail to comply or who release cash to Corporates and Politicians will face termination of their contracts and the respective banks will be sanctioned.
It warned that no branch should allow an individual with multiple Debit cards to do multiple transactions on ATMs.
CBN insisted that no Bank is authorised to pay out old notes again via ATMs or in bank branches over the counter
It stressed that there would henceforth, no payment of new notes over the counter.
“Banks are only allowed to release new notes via ATMs.
“Corporates that require cash should only be given the old N100 notes and below. Corporates must not be given the new notes.”
The apex Bank drew attention to the fact that officials of the Economic and Financial Crimes Commission (EFCC) and that of the Independent Corrupt Practice and other related matter Commission (ICPC) will accompany CBN examiners to inspect bank branches over the next two weeks to assess full Compliance with the new CBN guidelines.
The CBN Governor, Godwin Emefiele, had, after consultation with President Muhammadu Buhari in Daura, Katsina State, announced the extension of the deadline for the deposit of old note from January 31 to February 10.

Yeeeh, We’re Winning, Emefiele Hails President Buhari

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele seems to be in an elated mood after a crucial meeting with President Muhammadu Buhari  in Daura, Katsina State, during which time the President approved 10- day extension of the deadline for Nigerians to exchange old Naira notes for New ones.

NEWSFLASH: CBN Extends Cash Swap Of Naira Notes To Feb. 10

The Central Bank of Nigeria (CBN) has shifted the deadline for Nigerians to deposit the old naira notes in their possession from January 31 to February 10.

At a news briefing today, January 29, the apex Bank Governor, Godwin Emefiele said that the extension is to give another chance for the citizens, especially in the rural communities, to deposit the old notes.

“Our CBN staff currently on mass mobilisation and monitoring, together with officials of the EFCC and ICPC will work together to achieve these objectives.”

Emefiele said that seven day grace period, beginning on February 10 to February 17, in compliance with sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its legal status.

According to Emefiele, the cash swap has so far achieved 75 percent success rate, adding that enough of the new notes have been pumped into the system.

Lassa Fever Kills 13 Out Of 115 Infected In Edo State.

No fewer than 13 people out of 115 infected by lassa fever have been confirmed dead in Edo State.

The state Commissioner for Health, Akoria Obehi, who made this known in the state capital, said that said that efforts have been intensified to arrest the disease across all communities in the state.

“We have confirmed eight new cases of Lassa fever in Edo State, raising the total number of confirmed cases in the state to 115.”

The commissioner said that 40 persons, including 26 adults and 14 children, are presently receiving treatment at the Irrua Specialist Teaching Hospital.

He said that although the state is adequately prepared and equipped to handle reported cases of Lassa fever, there is a necessity for residents to take precautionary measures to complement the government’s efforts by complying with all laid down protocols against the spread of the disease.

She advised residents experiencing symptoms such as severe headache, vomiting and high fever to report to the nearest health care centre for diagnosis and treatment.

She advised residents who have been in contact with confirmed Lassa fever patients or suspect any symptoms to reach out to the disease surveillance or notification officers within their local government areas.

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