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

January 29, 2023

“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

Greenbarge Reporters

January 29, 2023

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

Greenbarge Reporters

January 29, 2023

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.

Greenbarge Reporters

January 29, 2023

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.

With 10MW Solar Energy, Buhari Has Set Kano On Industrial March, By Garba Shehu

Editorial staff

January 28, 2023

For an electricity distribution area, Kano DISCO that gets between 250-360 Megawatts Hour, on a day by day, many will dismiss the commissioning of the 10MW, Challawa Kano Solar Power Project as inconsequential.

Yet, in terms of, both significance and consequential impact, this power plant, the first of its kind in Nigeria is a game-changer in many respects.

It is important to note that this is the largest grid-connected solar power plant in the country so far. Not only this, it is a pointer to growth in the power sector and a strong and unambiguous message that large-scale renewable projects can be successfully delivered in the country.

The plant is equally a personal goal achieved by President Muhammadu Buhari, a globally recognized champion of awareness creation and the mitigation of climate change. He is a recognized promoter of biodiversity and a strong advocate of clean energy sources.

For him, the destruction of the natural environment, be that from uncontrolled carbon emissions of or the destruction of natural environments is an anathema; the reason for most, if not all of the security and socio-economic challenges, from terrorism to banditry, hunger and poverty that confront us.

The Challawa, Kano plant is built to generate energy that produces no greenhouse emissions from fossil fuels and reduces air pollution.

The intention is for the project to supply the Challawa Water Works, the backbone of public water supply to the city of between 4-5 million people and the provision of unbroken power supply to streetlights in the state capital thereby helping with security. The effect will be to ease pressure on the overstretched power distribution to the Challawa industrial estate, the city’s second but largest industrial layout, to help spur industrial production and motivate other companies to invest in additional capacity and allow them to reach full capacity utilization.

We are also informed that the choice of contractors was done in a way that a local contractor must have a foreign partner and vice-versa, the reason being to ensure local participation, local creation and value retention and knowledge (technical) transfer. The goal is for the sector to grow into maturity to such point where no foreign content is required to undertake similar complex technical projects in the future.

At the construction stage, the project created 300 direct jobs and indirect jobs (transportation,food and beverage, hospitality etc) in excess of 2,000.

The project is a demonstration pilot project, intended to stimulate investment in the Nigerian power sector. Kano wasn’t initially chosen for it. Another state among the country’s large number of states in the sun solar belt was chosen but their indecision and failure to meet deadlines cost them this project.

To meet an irrevocable deadline, Kano state government was challenged by on order of the President to respond to the requirements, and in time. Can Kano government respond in time, asked the Presidency? Happily, the Governor, Dr. Abdullahi Umar Ganduje and his Deputy, Gawuna did not disappoint.

In just one week, the Governor sent a duly registered Certificate of Occupancy covering a 24-hectare parcel of land, valued at N322 million at market value to the President, meeting thereby a strong requirement, for his approval. An agreement was signed with an ownership structure in which the federal government has 80%, Kano State Government with 15% and Kumbotso Local Government, 5%.

Power generated will be directly supplied to the distribution system.

On January 4, 2019, following a directive from the President, the Federal Ministry of Finance instructed the office of the Accountant General of the Federation, to transfer the approved sum of N4.71 billion from the Development of Natural Resources Development Account to the Nigerian Sovereign Investment Authority, NSIA.

The President chose the NSIA to be the funds and project manager for the development and construction of this solar project because of the seriousness he attached to it. The President chose them because the NSIA has a record of adherence to transparency and are known to go with the highest environmental and social standards. The Covid epidemic and consequent lockdown, and the currency fluctuation impacted negatively on the project’s execution but the good news is that the NSIA has, notwithstanding the delay, done its part by delivering the project.

Kano, home to 15-16 million people and is poised to overtake Lagos as the most populous state. With 60-plus integrated rice mills today in Kano, the city has transformed into the the country’s rice processing hub in the seven years of the Buhari administration and with this, a growing and voracious appetite for energy.

With this commissioning, President Buhari will put Kano on the front line of the combat against climate change. It will also mark the President’s big push on renewables to decarbonize the power sector and reduce air pollution starting with Kano on Monday.

All these put together will lead to a huge transformation of Kano from a semi-arid state to a solar state.

Garba Shehu, Senior Special Assistant to President Muhammadu Buhari on media and publicity wrote in from Abuja.

I’m Aware Of Difficulty By Ordinary Nigerians To Deposit Old Naira Notes – Buhari

Editorial staff

January 28, 2023

President Muhammadu Buhari has said that he is aware of the difficulties ordinary Nigeria’s are encountering in the process of trying to deposit the old naira notes as the deadline to do so grinds to the end.

He assured such Nigerians that his government will ensure that they are not harmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap.

President Buhari was reacting, in a statement by his spokesman, Garba Shehu, to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, thereby triggering public anger and opposition’s criticism.

President Buhari reiterated that the currency changes are aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding. This, he assured, will stabilize and strengthen the economy.

Buhari acknowledged that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses.

President Buhari gave strong assurances that the government will not leave them to their own fate.

According to the President, a number of initiatives by the Central Bank of Nigeria (CBN) and all commercial banks are underway to speed up distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.

I’m Grateful To Osun People For Rejecting Kangaroo Tribunal Judgment – Gov Adeleke

Editorial staff

January 28, 2023

Governor Ademola Adeleke of Osun State has expressed appreciation to the people of the state for their passionate show of love and rejection of what he called “the Kangaroo judgement of the governorship tribunal.”

Reacting to protests of support and rejection of the judgement from the 30 local governments and the Area Council, Governor Adeleke expressed delight at the reaffirmation of popular support for his governorship mandate, assuring the people that “the popular mandate will not be stolen either through front or backdoor.

” I have read stories of multiple protests and I have seen many videos from all over the state. From Central, West and east, I am overwhelmed by your open defence of our mandate. I express my appreciation to our people for their show of support. Your love for me is much appreciated.

“We have not done anything wrong. We won clearly with a wide margin. Local and foreign observers hailed our election as the best in recent Nigerian history. Be rest assured that by God and Man, justice will be done. Our mandate won’t be stolen.

“I urge you to remain calm. We should not take the law into our hands. We have appealed the judgement and we are sure of victory by the Special Grace of God.”

Forces Of Darkness Wanted To Extinguish Light Of Osun, Tinubu Reacts To Tribunal Verdict

Editorial staff

January 27, 2023

Presidential Candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, has said that the governorship Electoral Petition Tribunal has just delivered people of Osun State from the forces of darkness by sacking the newly elected state governor on the platform of the opposition Peoples Democratic Party (PDP), Senator Ademola Adeleke.

In a message congratulating Alhaji Isiaka Oyetola of the All Progressives Congress (APC), who was swept off his feet in the election that threw up Adeleke, Asiwaju described the tribunal’s verdict as a victory for the people of the Osun state.

“The forces of darkness plotted to extinguish the able leadership and progressive good governance that improved the quality of life of our people under your leadership.

“It is the victory of light over darkness; a triumph of perseverance, courage and justice over electoral fraud and democratic perversion.”

Asiwaju Tinubu said that Oyetola’s victory is deserving, describing it as a “triumph of courage and perseverance, and light over the forces of darkness that sought to arrest the progressive good governance the APC administration delivered to the people of Osun State under the leadership of Oyetola.”

He said, in the statement by his Media Aide, Tunde Rahman: “I heartily rejoice with Alhaji Adegboyega Oyetola on his much deserved victory at the Election Tribunal, saying: “today, the Tribunal delivered justice and restored the mandate freely given to you and our great party.

“I am confident that the good work you championed that was momentarily paused will soon resume and Osun people will be happy again. And together we can renew their hope of a shared prosperity.

The three-man election tribunal, chaired by Justice Tertsea Kume, in Osogbo, the State capital, ruled that Oyetola is the duly elected governor of the state and ordered the Independent National Electoral Commission (INEC) to issue Certificate of Return to Oyetola while declaring the result that produced Ademola Adeleke as Governor as null and void.

2023 Polls: Coalition Of 10 Civil Society Organizations Smell Rat

Editorial staff

January 27, 2023

File photo of Electoral commission officers count votes at Shagari Health Unit polling station in Yola | Credit:

A coalition of ten civil society organizations (CSO) have identified 22 states with high risks of manipulation and malpractices in the electoral process to install a new government starting with Presidential election on February 25, 2023.

The findings by the CSO showed that 12 states have medium election manipulation risks while three States are classified as having low risk of manipulation.

They made these points known today, January 27, during the presentation of the Election Manipulation Risk Index (EMRI) first iteration report.

The report said: “As preparation for the 2023 general election reaches advanced stages, attempts to distort election outcomes using manipulation strategies are on the rise. Key actors are devising strategies to punctuate electoral preparations and neutralize the impact of laudable reforms aimed at enhancing the integrity of the electoral process.

It’s With God’s Miracle That I survived Civil War, Kaduna Bomb Attack, Others – Buhari

Editorial staff

January 27, 2023

President Muhammadu Buhari has given all the glories to God for surviving all the dangerous turns in his life’s journey, including the 30-month civil war, bomb attack on him in Kaduna before he became President and several others.

President Buhari, who visited the Emir of Daura in Katsina State, Faruk Umar Faruk today, January 27, after commissioning two roads, said that he is convinced beyond doubt that the destiny of man, country and the world remains in the hands of God.

“I was at the war front during the civil war, and saw how many died. Some fell right beside me. God kept me.

“Many bridges were blown just before we arrived at some places, and after we crossed. I arrived at some places to see bodies of my own colleagues that we were fighting together. I am alive today only by God’s grace.

“For the President of Nigeria, at this time, to come from Daura is the grace and mercy of God.”

Buhari said that the opportunity for him to serve the country as President came from God, saying that Nigeria is known all over the world for its diversity, with different religions and cultures.

“We are also known because we have a huge population of millions of people.

The President recalled that he secured his first job early after school to manage a co-operative in Daura, but had to escape and join the army when there was pressure that he should get married.

“I told Governor Aminu Bello Masari the story of how I left Daura to join the army. That was how God planned it. We make choices in life, but eventually destiny is before God.

According to him, the Daura Emirate and community had gained international recognition by divine purpose, not man’s efforts, assuring the Emirate that he would return and settle down in Daura, after handing over on May 29, 2023.

“The Emir has spoken extensively and I don’t have much to add. I have three of my classmates that are here today in the Emirate Council.

“I also hear of how the Emir has been giving recognitions and titles to my staff and family members. I am grateful for all the support.”

The Emir of Daura had said that the survival of the President when his car was bombed in 2014 was a divine act, which happened shortly before he won elections in 2015.

“The visit of the President is historic. He was invited by the Governor to inspect and commission development projects.

“The Governor has performed exceedingly well, beyond the projects that had been spotlighted. Close to seven years, he has been working for the people and he has made a big impact.

“Governor Masari is not a thief. The governor has done his best with available resources. He has showcased his record of service by inviting the President to witness progress in the state.

“The President has seen a lot in two days, but he has not seen all. We know the good works of the governor and really commend him.”

The Emir thanked the President for Federal Government projects in the state, and extoled the governor for creating an enabling environment for many to thrive.

“As a state, Katsina benefitted a lot from your position, Mr President and the Daura community remains grateful for all. For a long time, we will be talking about the blessings of God in our domain.”

President Buhari, today, concluded a two-day visit to Katsina State where he commissioned projects such as the Musawa General Hospital, Government Day Secondary School, Musawa, Gora-Makauraci-Malamawa road and Sandamu-Baure-Babban Mutum road, Gurjiya -Sandamu-Karkarku roads in Daura.

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