Supreme Court Adjourns Naira Redesign Case Till March 3

 

The Supreme Court on Wednesday adjourned a case instituted by the state governments against the Federal Government challenging the implementation of the naira redesign.

The apex court adjourned the case to March 3 for judgement.

 

Earlier, the apex court consolidated the suits instituted by over 12 state governments.

At the last hearing on February 15, seven states joined the three initial states as co-plaintiffs, while Edo and Bayelsa states joined the Federal Government as co-defendants. The court, however, refused to join Abia State in the suit on the ground that it came late with its originating summons.

All efforts by Abia State Government to be joined in the suit, was turned down and was ordered to present its case at a later date.

A motion for the consolidation was also argued by the Counsel for Rivers State, Emmanuel Ukala.

 

Moving the motion on notice, Ukala premised the consolidation request on the need for the suit to be heard without any hinderance since the matter bothers on same issue.

The head of the 7-man panel, Justice John Okoro, granted the request and ordered consolidation of the ten suits into one.

Now, the plaintiffs in the suit are the Attorneys General (AGs) of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Sokoto, and Lagos states while the defendants are the Attorney General of the Federation, Abubakar Malami (SAN), as well as the AGs of Bayelsa and Edo states.

Commencing arguments, counsel for the Federal Government, Kanu Agabi, said the Supreme Court held that all reliefs are rooted in section 20 of the CBN Act, therefore, the apex court has no jurisdiction to hear the suit as the action cannot commence with an Originating Summons.

 

He wondered why the plaintiffs did not bring the CBN governor to court as a respondent, after making reference to him 32 times in their Originating Summons.

He said the reliefs are against the CBN, yet they didn’t deem it fit to bring the CBN into the matter. He added that Nigerians had already began rejecting the old notes way before the President’s directive. He insisted that the President is not in violation of the Supreme Court order as under the constitution, the President is empowered to veto any legislation.

Counsels for Edo and Bayelsa States, also agree that the suit be dismissed for lack of jurisdiction.

The counsel for Rivers urged the court to grant all the reliefs sought therein
Counsel to the AGF, also urges the court to dismiss the suit entirely.

 

Also, the Attorney General of Kano State, who is a co-plaintiff, argued that President Muhammadu Buhari sidelined members of the National Economic Council and only relied on the advice of the CBN governor in the implementation of the monetisation policy.

He added that the President decided to exercise his powers without consulting with the state governments as required by the law.

He further said that they have security report that there will be breach of law and order if nothing is done to address the issue of cash scarcity. He added that the Kano State Governor, Abdullahi Ganduje is a member of the council and he told him that the issue was never discussed at the NEC meeting.

Rather, the President relied only on one member of the council, and the CBN governor ignored the finance minister and the vice president who is the chairman of the council.

The Justice pointed out that the President can direct that the old 200 naira notes be brought back as a legal tender, then he is under the jurisdiction of the Supreme Court.

Also, the Attorney General of Jigawa stated that Section 148 of the constitution, compelled the President to seek the advice of the Jigawa State governor as a federating unit but the President did not do so in the Federal Government implementation of the redesign policy.

 

Back Story

The Central Bank of Nigeria (CBN) had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10 following complaints by many Nigerians but the Supreme Court, after a suit filed by the states, held that the Federal Government, the CBN, commercial banks must not continue with the February 10 deadline pending the determination of a notice in respect of the issue on February 22.

However, President Muhammadu Buhari, in a national broadcast last Thursday, directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days — by April 10, 2023. He also said old N500 and N1,000 banknotes cease to be legal tender in Nigeria.

There has been a flurry of reactions and stark criticisms against the President’s directive including from governors of his party, the All Progressives Congress (APC).

Governors Nasir El-Rufai (Kaduna), Abubakar Badaru (Jigawa), Rotimi Akeredolu (Ondo), Umar Ganduje (Kano); Speaker of the House of Representatives, Femi Gbajabiamila; Minister of State for Labour and Employment, Festus Keyamo; and many stalwarts of the ruling APC have openly censured and faulted the President’s directive, arguing that it has not grounds because the case is before the apex court.

Leading Senior Advocates of Nigeria like Femi Falana and Mike Ozekhome have equally faulted the President’s move, saying he cannot overrule the apex court of the land.

 Also, three State Governors- Kaduna, Zamfara and Kogi have filed another suit against Malami, and the CBN Governor, Godwin Emefiele over contempt of court and their alleged failure to comply with the Supreme Court order on the old naira notes.

 

Wike, Ikpeazu Will Support Tinubu In Presidential Election, Says Orji Kalu

A photo combination of Orji Kalu, Nyesom Wike, Okezie Ikpeazu, and Bola Tinubu

 The Senate Chief Whip, Orji Kalu, has said some aggrieved Peoples Democratic Party (PDP) governors that make up the G5 or Integrity Group will support the All Progressives Congress (APC) presidential candidate, Bola Tinubu, in Saturday’s election.

Specifically, Governor Nyesom Wike of Rivers State and his counterpart of Enugu State, Okezie Ikpeazu, will throw their weight behind the former Lagos governor, Kalu said during a live appearance on Channels Television’s The 2023 Verdict on Monday.

The G5, which includes Wike, Ikpeazu and three other state governors, have taken a stand to abstain from supporting the PDP presidential candidate, Atiku Abubakar.

According to him, the general public need not be concerned about the internal wranglings in the APC over the naira swap policy of the Central Bank of Nigeria (CBN).

 

“Tinubu is well liked by the North and is from the South-West and is going to get a [sizable] vote in Imo, Ebonyi, Abia, Anambra and Enugu. And he’s going to have the support of Governor Wike of Rivers State, so we’re on track,” he said.

“My governor here, Okezie Ikepazu, will also support Tinubu. My senatorial district is going to give Tinubu the vote. The puncher to give the 34, 35 percent to be on the ballot.”

Promising that Tinubu would be “a man of tomorrow”, the former Abia governor added that “the G5 governors are also going to be a very big factor”.

The senator representing Abia North predicted that the South-East would vote for the APC presidential candidate because, according to him, the voters know his presidency will serve as a stepping stone a free market.

In his view, there is no cause for concern over the party’s internal crisis as he encouraged the members of the electorate to vote according to their conscious.

Describing Tinubu as a good administrator, he said the candidate could “delegate the job”.

“He’s a relief to the headquarters of the entrepreneurs where I live in Lagos,” he said. “All the presidential candidates live in Lagos; we all live there and we’re businessmen there, and Tinubu lived in the middle of the entrepreneurs of Nigeria.”

Kalu promised that his APC presidential candidate would ensure the formulation of a partnership between the private sector and the government, “which is very much not seen today”.

The 21 or 22 governors of APC are ready to support Tinubu; they brought him in at the convention. There was a ballot; Tinubu didn’t come from the back of the yard to be the presidential candidate of the APC.

copied from channels tv... credit video

 

 

 

 

1.8bn Litres Of Fuel Available For Feb, March — NNPC

 

A file photo of a nozzle pump.

The Nigerian National Petroleum Company (NNPC) Limited says it has put in place a “robust” plan for the supply of Premium Motor Spirit (PMS), also known as petrol, from mid-February to March.

The company’s Chief Corporate Communications Officer, Garba Deen Muhammad, in a statement on Monday, noted that the plan is part of its concerted efforts to sustain the supply of petroleum products nationwide.

“Latest updates released on Monday show that NNPC Limited has a total of 1.805 billion litres of PMS stock, representing 805.35 million litres in all the land depots nationwide and 1,000.20 million litres on marine vessels, which is equivalent to 30.09 days sufficiency,” the statement reads in part.

“An additional PMS supply of 884 Million Liters is also expected into the country by 28th February, 2023.

“For March 2023, a total of 2.3 billion litres of PMS is expected into the country, while about 2.5billion litres, which is equivalent to 42 days sufficiency, will be the closing stock for the month under review.”

NNPC assured motorists that it has adequate and sufficient volumes on all land depots as well as marine vessels.

The company added that, as the provider of energy security for the country, it would continue to sustain availability of petroleum products across the country.

Apologies And Resolutions

Earlier this month, the Group CEO, NNPCL, Mele Kyari, apologised to Nigerians for the months of pains caused by the persistent nationwide fuel scarcity, assuring the public that the “glitch” would be resolved.

 

 

Asked to specify when Nigerians will begin to see a turnaround, Kyari expressed a strong belief that the relief will be be felt “within the next one week.”

“I’m not saying that you’re going to have zero queues within the next one week,” he added. “No, I can’t guarantee that because a number of things are out of our control.”

The NNPC boss explained that market forces will determine how quickly the situation is resolved, but in his view, the country is going to see substantial and relative ease in the next one week compared to the situation at present.

 

2023 Elections: Pastor Enenche Shares Photo With Obi, Says This Is ‘The Way To Go’

 

Pastor Paul Enenche has shared a photo of himself, Bishop David Oyedepo, and Peter Obi in what appears to be an endorsement of the Labour Party (LP) presidential candidate, saying “the way to go”.

“A picture they say is worth a thousand words. This picture was randomly taken by a photographer some time ago but is speaking volumes right now, especially in this season,” the Founder and Senior Pastor of the Dunamis Gospel Centre wrote on his Facebook page Monday evening.

“What do you see? What can you hear? Are you in doubt about the way to go? The way of integrity, authenticity, honesty, sincerity, simplicity, humility, capacity, productivity; here is the way to go.”

 

The move comes in the wake of Obi’s backing by a cleric Apostle Johnson Suleman of the Omega Fire Ministries.

Obi, 61, has emerged as the first third-party candidate to challenge the dominance of Nigeria’s ruling All Progressives Congress (APC) party and main opposition Peoples Democratic Party (PDP) which between them have governed since the end of military rule in 1999.

Nearly 100 million will vote on February 25 in Africa’s most populous nation to choose the successor to President Muhammadu Buhari, who steps down after two terms with Nigeria struggling with widespread insecurity and economic malaise.

A former southeast Anambra state governor, Obi has captured the interest of many young voters with a campaign offering hope for change from the patronage politics and old-guard candidates fielded by the mainstream parties.

Some polls show Obi leading, but analysts say the wealthy businessmen faces a challenge to win over enough voters in the mostly Muslim north, a key block of ballots that helps determine Nigeria’s election.

To win the presidency, candidates must garner the most ballots and also 25 percent of the votes in two-thirds of the country’s states.

Nigeria is almost equally split between the mostly Muslim north and a predominantly Christian south with three main ethnic groups, Yoruba, Hausa, and Igbo, and hundreds of local languages across the country.

Election campaigns in the past often featured candidates appealing to their ethnic base to win over voters.

 

 

 

Presidential Directive On N200 Notes Stands, CBN Insists

 The Central Bank of Nigeria (CBN) on Tuesday said President Muhammadu Buhari’s directive on the N200 notes still stands.

Buhari in his nationwide broadcast on February 16 directed the apex bank to only reissue and re-circulate the old N200 banknotes. The old N200 is expected to circulate as legal tender for 60 days up to April 10.

In a statement, the CBN dismissed some media reports that the President approved the reissuance and release of the old N500 and N1000 notes as legal tender in the country.

It described the reports as fake news, pledging to work with security agencies to unravel the perpetrators of the misleading reports.

“ The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE Purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country,” the statement read.

“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes. Members of the public are therefore advised to ignore this fake news.

“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news.   Please be guided accordingly.”

 

I Won’t Lose Faith In My Methods, Says Chelsea Boss Graham Potter

 

Chelsea’s English head coach Graham Potter gestures on the touchline during the English Premier League football match between Chelsea and Southampton at Stamford Bridge in London on February 18, 2023. (Photo by Glyn KIRK / AFP)
Chelsea manager, Graham Potter, has said he will not budge on his tactics and philosophy as this is what has gotten him to this stage in his coaching career.

The London club fell to a 1-0 defeat at Stamford Bridge courtesy of Southampton’s captain, James Ward-Prowse classic.

This will be the first loss for Chelsea after three consecutive draws and a victory in five matches which sees them occupy an unusual 10th position in the Premier League log.

Speaking in a post-match interview, Potter dismissed any form of trepidation when asked if he was losing faith in his choice of tactics during the game

‘No, I do not lose belief or faith in his methods. I know it is football and sometimes this happens,’ Potter said after the match,” Potter said after the match.

The 47-year-old has managed two wins in his last 14 games, in spite of this the former Brighton boss believes these results are part of the game and his qualities will soon yield fruits

‘I know my qualities. I know what I have done in my career, and I understand when results do not go your way you are open to criticism, and that is fair.”

‘This is the world we’re in. There is a transition and factors [to our results], but at the same time it is a motion, and the team is losing so you can understand. I am not stupid or naive, my job is to keep going and help the team through this tough period.

 

‘You can only be yourself and try your best. I get it, when you’re losing there is always something that you can do or change. I have always been this way [calm on the touchline] and it has got me to this point. At the same time, I can understand if people want something different.’

Bemoaning his injury-hit squad Potter added, “We are managing quite an unprecedented injury list, so you have to manage that also in the Premier League. All these things are true but unfortunately, when you lose, it is not what people want to hear.’

Not Good Enough

Similarly, English defender Ben Chilwell believes the team was not good enough in their  match against the Saints and they need to work hard to achieve the desired results

‘Again, not good enough. I can stand here and say we created chances as I said in Dortmund, but it doesn’t really mean anything. We need to win these games,’ he said.

‘It is easy to say, but we really do have to work hard and turn this around, and the only people that can do that are ourselves” he said.

‘It is never nice for a very competitive group that wants to win stuff. Some of us a few years ago tasted winning a major trophy and then to be in this situation now, does not feel good at all.

‘It is understandable that the fans are not happy. They expect Chelsea to win matches which we also expect.’

 

 

 

Elections: US Embassy Alerts Citizens In Nigeria On Possible Protests

 

A logo of US Embassy

The United States Embassy in Nigeria has alerted its citizens in Nigeria on possible protests and restricted movements on February 25 and March 11.

In a notice on its website, the Embassy advised its nationals to avoid rallies as “they can turn violent with little or no notice”.

 

The Embassy also advised American citizens in Nigeria to have three days of food and water at home in case movement restrictions are extended beyond election days.

The notice was titled, ‘Security Alert – Possible Protests Leading to Elections and Restricted Movements on Election Days’.

“The Government of Nigeria will restrict the movement of all personal vehicles on election days across the country,” it read in part. “Information from the Government of Nigeria indicates that only law enforcement personnel and Independent National Electoral Commission (INEC)-accredited election observers will be allowed to move freely along the roads.”

 

“Please be advised that movement restrictions may be extended at any time. Be alert to Government of Nigeria information about the restrictions.”

Protests broke out across states in Nigeria amid scarcity of new naira notes and petrol last week. Banks and Automated Teller Machines (ATMs) were vandalised by frustrated Nigerians whose moneys are trapped in the banking system.

Nigerian President Muhammadu Buhari last Thursday banned old N500 and N1,000 notes and extended the validity of old N200 notes till April 10, 2023 but at least 10 governors have approached the Supreme Court to step aside the directive of the President in the case set to hear on February 22.

Victim Testifies As Ekweremadu’s Organ Harvesting Trial Continues

 

A photo combination of former Deputy Senate President, Ike Ekweremadu, and his wife, Beatrice Nwanneka Ekweremadu

The trial of former Deputy Senate President, Senator Ike Ekweremadu continued on Monday at the Old Bailey court in Central England, the United Kingdom.

Ekweremadu is standing trial for allegedly plotting to harvest the kidney of a 22-year-old street trader. Also being tried alongside the Nigerian lawmaker are his wife – Beatrice, 25-year-old daughter Sonia, and a doctor, Obinna Obeta.

They are accused of conspiring to exploit the man for his organ.

Channels Television had on February 6 reported how the four accused persons appeared in London’s famous Central Criminal Court, known as the Old Bailey, for the start of the trial, after previously pleading not guilty. They face life imprisonment if convicted.

In Britain, it is legal to donate a kidney, but not for reward. Prosecutors say regardless of whether the Lagos street trader gave his consent, a crime was committed by the wealthy Nigerians.

At the continuation of the trial on Monday, Channels Television’s correspondent, Juliana Olayinka who witnessed the proceedings said the victim told the court the version of his story.

The court’s gallery was filled with people who were eager to monitor the events in the temple of justice.

Speaking through an interpreter, the victim said he arrived in the UK on February 20, 2022, to provide his kidney to Sonia Ekweremadu.

“For the first time ever, we have been hearing from a key witness which is a 22-year-old alleged victim who has been giving his own testimony via a video link. He has been speaking through an interpreter,” Olayinka said.

 

“Today marks the actual day, this time last year, that he arrived in London. We know what happened after that arrival if you have been following this case extensively.

“He, of course, was to come to the United Kingdom to provide his kidney for Sonia Ekweremadu who suffers from a severe significant kidney disease.”

Ekweremadu and his wife, Beatrice were arrested by the British police on June 23 last year on allegations of human trafficking and organ harvesting that violate the country’s Modern Slavery Act.

The Ekweremadus and the doctor are accused of conspiracy to arrange the travel of another person with a view to exploitation, under UK legislation on modern slavery.

Prosecutors said the defendants allegedly planned to have a kidney removed from the man so that it could be given to Sonia.

 

 

 

 

 

Banks Torched As Naira Scarcity Protest Rocks Ogun

 

Protesters in Ogun on Monday, February 20, 2023

At least three banks were torched on Monday as protest over scarcity of new naira notes rocked the Sagamu area of Ogun State.

The police spokesperson in the state, Abimbola Oyeyemi, confirmed the development in a telephone chat with Channels Television.

According to him, Union Bank, First Bank and Keystone Bank branches were attacked by protesters on Monday.

He, however, said policemen have been deployed to the area to quell the situation.

“We are in Sagamu now. The place is seriously burning,” Oyeyemi said. “They attacked Union Bank and First Bank as well as Keystone Bank. We are there right now.”

Similar protests  broke out across states in Nigeria amid scarcity of new naira notes and petrol. Banks and Automated Teller Machines (ATMs) were vandalised by aggrieved citizens whose moneys are trapped in the banking system.

President Muhammadu Buhari last Thursday banned old N500 and N1,000 notes and extended the validity of old N200 notes till April 10, 2023 but at least 10 governors have approached the Supreme Court to step aside the directive of the President in the case set to hear on February 22.

The cash crunch and consequent riots come just a few days to the February 25 Presidential and National Assembly elections, spreading fears about the safety of voters on Saturday but the police and other security agencies have assured citizens of maximum safety amid the polls.

‘Criminal Elements To Exploit Protest’

Meanwhile, the Commissioner of Police in the state, Frank Mba, has assured residents of the state of the resolve of the Command to protect lives and property, prevent breakdown of law and order, and improve public safety and security.

The CP further noted that intelligence at the disposal of the Command indicates that some criminal elements are planning to take advantage of  the challenging economic situation to disrupt the peace being enjoyed in the State.

He therefore warned that the Police, will not fold its arms and allow persons with criminal intentions, to hide under any guise whatsoever, to unleash mayhem on residents, private and public property, and critical national infrastructure, including banks and offices of the Independent National Electoral Commission (INEC).

The CP assured that necessary security architecture has been emplaced to protect the peace loving people of the state.

 

 

 

SERAP Sues Buhari Over ‘Unlawful Ban On Old N500, N1,000 Notes’

 

A photo combination of SERAP’s logo and President Muhammadu Buhari

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over “the unlawful directive banning the use of old N500 and N1,000 banknotes, contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 notes remain legal tender.”

Joined in the suit as Defendants are the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, and the Central Bank of Nigeria (CBN).

The Supreme Court in a case initially brought by 10 states recently held that the old banknotes remain legal tender pending the determination of a motion on notice fixed for February 22. The deadline for the swap of the old notes expired February 10.

However, Buhari in a national broadcast last week directed the CBN to recirculate only the old N200 banknotes, thereby overruling the Supreme Court and banning the use of old N500 and N1,000 notes in the country.

In the suit number FHC/ABJ/CS/233/2023 filed last Friday at the Federal High Court, Abuja SERAP is asking the court to determine “whether President Buhari’s directive banning the N500 and N1,000 banknotes is not inconsistent and incompatible with the constitutional duties to obey decisions of the Supreme Court and oath of office.”

SERAP is asking the court for “a declaration that President Buhari’s directive banning the use of old N500 and N1,000 banknotes is a fundamental breach of section 287(1) of the Nigerian Constitution 1999 [as amended] and his constitutional oath of office, and therefore unconstitutional, unlawful, null and void.”

SERAP is seeking “an order of interim injunction restraining President Buhari, the CBN and Mr Malami, their agents or privies from further enforcing the presidential directive banning the old N500 and N1,000 banknotes, pending the hearing and determination of the motion on notice filed contemporaneously in this suit.”

In the suit, SERAP is arguing that: “Upholding the rule of law is the cornerstone of Nigeria’s constitutional democracy. President Buhari and other public officials and authorities have a binding legal responsibility to strictly comply with the rule of law and obey the decisions by the Supreme Court, and all other courts.”

SERAP is also arguing that, “The directive to ban the use of N500 and N1000 banknotes, contrary to the interim injunction by the Supreme Court, is ultra vires – beyond the constitutional and legitimate powers of President Buhari and the government.”

The suit filed on behalf of SERAP by its lawyers Ebun-Olu Adegboruwa, SAN, and Kolawole Oluwadare, read in part: “It is a very serious matter for anyone to flout a positive order of a court.”

“President Buhari’s directive undermines the authority and independence of the judiciary, which is an underlying constitutional principle intended to ensure that government is conducted according to law, and to prevent the arbitrary exercise of powers or discretion by public officials and authorities.”

“An order of Court must be obeyed even if such an order is perverse, until such a time that the order is set aside by a competent court. A flagrant flouting of an order of the court by the executive is an invitation to anarchy.”

“The rule of law makes all government officials, including the President and other officials, answerable for their acts in the ordinary courts. The law must apply to everybody; nobody is above the law.”

“Section 281(1) of the Nigerian Constitution provides that, ‘the decisions of the Supreme Court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme Court.”

“Under 318 (1) of the Nigerian Constitution, ‘decision’ means in relation to a court, any determination of that court and includes judgement decree, order, conviction, sentence or recommendation.”

“It is the duty of the government to allow the law to take its course or allow the legal and judicial process to run its full course.”

“The directive by President Buhari to ban the use of the old N500 and N1000 banknotes can have no other interpretation than the show of intention to pre-empt the final decision of the Supreme Court in this case.”

“The courts expect the utmost respect of the law from the government itself which rules by the law.”

“The rule of law is essential in a constitutional democracy such as we have in this country for the protection of the rights of citizens and for checking arbitrary use of power by the executive or its agencies.”

“It is a necessary implication of the rule of law that, except where the law gives a discretion to a public functionary, he can only act in accordance with the law, as to do otherwise may enthrone arbitrariness.”

“The Defendants are public officers who have sworn the constitutional oath office to perform their respective duties in the interest of the Nigerian citizens.”

“This suit is not challenging the statutory power of the Central Bank of Nigeria, acting on the directive of the President, to change the currency and denomination banknotes in Nigeria.”

“Unless the reliefs sought are granted, the Defendants will continue to violate constitutional provisions and disobey the order of the Supreme Court as implied by the directive of the President in his address to the nation on 16 February, 2023.”

SERAP is also asking the court for the following reliefs:

A DECLARATION that by virtue of section 287(1) of the Nigerian Constitution 1999, President Buhari, the CBN and Mr Malami have a constitutional duty to obey and enforce any decisions and orders of the Supreme Court, particularly the order allowing the use of old N200, N500 and N1,000 banknotes;
AN ORDER restraining and stopping the CBN from carrying out and giving effect to the directive of the President directing and approving that the old N500 and N1,000 banknotes are no longer legal tender and the old N200 banknote will cease to be legal tender on 10 April 2023, in compliance with the order of the Supreme Court of Nigeria made on 8 February, 2023 in Suit Number SC/CV/162/2023– Attorney General of Kaduna State & 2 Ors v. Attorney General of the Federation;
AN ORDER mandating the CBN to direct all commercial banks in Nigeria to accept and give out the old N200, N500, and N1,000 banknotes as legal tender concurrently along with the new banknotes of the same denomination in line with the order of the Supreme Court of Nigeria made on 8 February, 2023 in Suit Number SC/CV/162/2023 – Attorney General of Kaduna State & 2 Ors v. Attorney General of the Federation;
ANY ORDER(S) that the Honorable Court may deem fit to make in the circumstance of this suit.

No date has been fixed for the hearing of the suit.

 

 

 

 

Man City Stumble In Title Race After Draw At Nottingham Forest

Manchester City’s English midfielder Jack Grealish (L) and Manchester City’s Portuguese defender Ruben Dias reacts at the end of the English Premier League football match between Nottingham Forest and Manchester City at The City Ground in Nottingham, central England, on February 18, 2023. – Nottingham Forest and Manchester City equalised 1 -1. (Photo by JUSTIN TALLIS / AFP)

 Manchester City were held to a damaging 1-1 draw at Nottingham Forest, allowing Arsenal to regain pole position in the Premier League title race on Saturday.

The Gunners fought back for a thrilling 4-2 victory at Aston Villa to move two points clear of City, just three days after surrendering first place with a 3-1 defeat against the champions.

Bernardo Silva put Pep Guardiola’s men ahead four minutes before half-time, taking Jack Grealish’s pass in his stride and drilling a clinical finish past Keylor Navas from 20 yards.

But the tension mounted as City searched for a second goal and Guardiola was booked for manhandling the fourth official after Erling Haaland’s penalty appeal was rejected following Joe Worrall’s challenge.

City were undone by their profligacy as Haaland’s drive hit the bar before the Norway star blazed the rebound over.

Haaland missed another chance moments later and Forest made the champions pay with their first shot on target in the 84th minute.

Morgan Gibbs-White fired a low ball across the area and New Zealand striker Chris Wood tapped into an empty net to leave Guardiola stunned.

 

 

10 States Ask Supreme Court To Set Aside Buhari’s Ban On Old N500, N1,000 Notes

 

COMBO of CBN Governor, Godwin Emefiele (L); Kaduna State Governor, Nasir El-Rufai (C); and President Muhammadu Buhari (R)

Ten states have asked the Supreme Court to set aside the pronouncement of President Muhammadu Buhari banning old N500 and N1,000 notes.

The governors, in Suit No SC/CV/162/2023, filed on Friday by their counsel, A.J. Owonikoko (SAN), want the apex court to declare the President’s directives in his Thursday’s broadcast as unconstitutional.

The plaintiffs in the suit are the Attorneys General (AGs) of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Sokoto, and Lagos states while the defendants are the Attorney General of the Federation, Abubakar Malami (SAN), as well as the AGs of Bayelsa and Edo states.

The plaintiffs, in a 12 grounds of application, argued that Buhari’s directive extending the validity of old N200 notes for 60 days and his ban on old N500 and N1,000 notes are an “unconstitutional overreach and usurpation of the judicial power” of the Supreme Court being that the case is already before the court.

The counsel for the applicants cited Section 232(1), Section 6(6)(b) and Section 287(1) of the 1999 Constitution as amended, which includes the protection of the Supreme Court’s dignity and which ensure compliance with its orders by all persons and authorities.

“Contrary to the order of the Honourable Court, the substantive 1st defendant through the President of the Federation, and its agent, the Central Bank of Nigeria, have repeatedly released statements that the old Naira Notes are no longer legal tender, hence resulting in misleading the general public on what the status quo to be complied with, pendente lite, should be,” the relief partly read.

Back Story

The Central Bank of Nigeria (CBN) had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10 following complaints by many Nigerians but the Supreme Court, after an initial suit filed by the 10 states, held that the Federal Government, the CBN, commercial banks must not continue with the February 10 deadline pending the determination of a notice in respect of the issue on February 22.

However, the President, in a national broadcast on Thursday, directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days — by April 10, 2023. He also said old N500 and N1,000 banknotes cease to be legal tender in Nigeria.

There have been a flurry of reactions and stark criticisms against the President’s directive including from governors of his party, the All Progressives Congress (APC).

Governors Nasir El-Rufai (Kaduna), Abubakar Badaru (Jigawa), Rotimi Akeredolu (Ondo), Umar Ganduje (Kano); Speaker of the House of Representatives, Femi Gbajabiamila; Minister of State for Labour and Employment, Festus Keyamo; and many stalwarts of the ruling APC have openly censured and faulted the President’s directive, arguing that it has not grounds because the case is before the apex court.

Leading Senior Advocates of Nigeria like Femi Falana and Mike Ozekhome have equally faulted the President’s move, saying he cannot overrule the apex court of the land.

 

 

Bitcoin Tops $25,000 To Hit Eight-Month High.

In this file photo taken on February 06, 2018 A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the “Bitcoin Change” shop in the Israeli city of Tel Aviv. – Bitcoin briefly rose above $60,000 for the first time on March 13, 2021, as the world’s most popular virtual currency continued its record-breaking run. (Photo by JACK GUEZ / AFP)

Bitcoin hit an eight-month high to surge past $25,000 on Thursday as the volatile cryptocurrency rises despite pressure from US regulators.

 

The digital coin has soared by 50 percent since the start of the year, though it remains far off its peak of $68,992, which it reached in November 2021.

Bitcoin reached $25,249 on Thursday, its highest point since June and the first time it topped $25,000 since August.

A more optimistic outlook for the world economy is propping up the markets, including cryptocurrencies, with Paris and London stock exchanges hitting all-time highs on Thursday.

“While regulatory crackdowns continue to drive some unease, there’s clearly a growing sense of relief that the worst is behind it for the industry and 2023 could be a much better year,” said Craig Erlam, analyst at online trading platform OANDA.

US officials are cracking down on the cryptocurrency sector after the uproar caused by the recent bankruptcy of FTX and Alameda Research.

FTX, once the world’s highest-profile crypto exchange, collapsed spectacularly in November, leaving nine million customers in the lurch and seeing cofounder Sam Bankman-Fried indicted for fraud by US prosecutors.

US regulators on Monday ordered crypto firm Paxos Trust to stop issuing dollar-pegged cryptocurrency BUSD, a stablecoin, for trading platform Binance.

“The third largest stablecoin was given an expiration date of February 2024 and the market has seemingly shrugged it off,” said Riyad Carey, analyst at cryptocurrency data provider Kaiko.

As stablecoins are backed by one or more national currencies with a near fixed rate of exchange they don’t experience the swings in value that cryptocurrencies like Bitcoin have seen.

 

Naira Controversy: Buhari May Have Acted On Wrong Advice, Says Keyamo

A photo combination of Festus Keyamo and President Muhammadu Buhari

The spokesperson for the All Progressives Congress Presidential Campaign Council (APC-PCC), Festus Keyamo, has alluded to President Muhammadu Buhari’s directive on the naira swap policy being ill-advised.

Buhari, in a Thursday national broadcast on the controversial policy, ordered that the old N200 banknotes remain in circulation till April 10, while the old N500 and N1,000 bills no longer serve as legal tender.

The Central Bank of Nigeria (CBN) first set the policy in motion in October 2022, issuing a redesign of the three highest denominations of the naira, which was officially completed and unveiled in November 2022.

The initial deadline of January 31, 2023 was later extended to February 10, but with the governments of Kaduna, Kogi and Zamfara approaching the Supreme Court, an interim order was given putting the policy’s implementation on hold.

 

The ensuing currency scarcity has led to protests across the country with several cases of ATMs destroyed, as well as banking facilities and property damaged.

“My view is that the President acted honestly without intention to slight the Supreme Court,” Keyamo said during a live appearance on Channels Television’s The 2023 Verdict on Friday. “But he may have acted on wrong advice.”

He added, “I did not give that advice; it is not my responsibility. I don’t know who gave that advice. I want to say this openly because tomorrow, people will ask me where I stood at this time.”

The Minister of State for Labour stated that Buhari’s speech acknowledged that there were certain matters in court and that the President believed he was playing safe by purportedly intervening to quell the growing tension across the country.

 

“He thought he was playing safe by saying, ‘Before you decide this matter in court, may I just provide some middle ground so that country burning, there are riots everywhere, so let me just try and provide some succour to the people, whilst acknowledging the matters are in court.’

“Now, if I were to advise him, I would have advised differently. I did not advise him. It’s not my responsibility; I don’t know who.”

Asked what his counsel to the President would have been, Keyamo said it would be for him to “comply strictly with the terms of the order of the Supreme Court, [which is that] all the old notes should circulate for now side by side with the new notes because that is the order of the Supreme Court.”

He added that by virtue of the constitution, “all authorities in Nigeria must obey the orders of the Supreme Court, “adding that anything to the contrary is “a descent to anarchy.”

According to him, the day people begin to disobey the order of the Supreme Court is an invitation to “revolutionary intervention or other kinds of interventions” in the nation’s democracy.

He described the judiciary and the Supreme Court as the last bastion to defend Nigeria’s democracy.

‘True Federalism’

Keyamo also addressed the allegations of treason against governors, including those of Kaduna and Kano, who have warned that severe action would be taken against corporate entities in their states that reject the old notes.

“It’s federalism in action. Those who are clamouring for true federalism – this is true federalism in action. People are thinking that this is the first time that governors of the APC are taking the President to court. It’s not,” he said.

“On various issues, they have always challenged the President in court. It doesn’t affect their amity; it doesn’t affect the cohesion of the party; it doesn’t affect the cohesion of these individuals.”

In his assessment, the minister stated that the President “at times” approves of the institutions set up by the constitution to resolve disputes, adding that the courts are there to resolve disputes.

“Don’t forget that the governors took the President to court over certain executive orders that he gave, I think regarding the state judiciaries and legislature and they won at the Supreme Court,” he said.

 

Ghana Footballer Christian Atsu Found Dead In Turkey Earthquake Rubble

 

A file photo of Christian Atsu

The body of former Ghana international Christian Atsu has been found after a huge earthquake in Turkey, local media reported Saturday, quoting his manager.

Atsu, 31, was caught up in a 7.8-magnitude quake that rocked Turkey and Syria on February 6, killing more than 43,000 people in both countries.

There were initial reports he had been rescued a day after the quake, but these turned out to be false.

His manager in Turkey, Murat Uzunmehmet, told DHA news agency on Saturday that his body had been found under the rubble in the Turkish southern province of Hatay.

“We have reached his lifeless body. His belongings are still being removed. His phone was also found,” Uzunmehmet told DHA.

His former club Newcastle United confirmed his death early Saturday.

“We are profoundly saddened to learn that our former player Christian Atsu tragically lost his life in Turkey’s devastating earthquakes,” the club wrote.

“A talented player and a special person, he will always be fondly remembered by our players, staff, and supporters. A proud Ghanaian who played for his country on 65 occasions, Christian represented our club between 2016 and 2021, making 121 appearances.”

Midfielder Atsu spent four seasons at Chelsea before a permanent transfer to Newcastle in 2017. He signed in September for Turkish Super Lig side Hatayspor.

Search and rescue workers found Atsu’s body where he was staying at Ronesans Residence, a block of high-rise luxury flats that toppled over in Antakya city in Hatay.

Turkish police arrested the building’s contractor at Istanbul airport last week as he appeared to be heading to Montenegro, according to state news agency Anadolu.

 

 

 

Lady’s celebration of her dad on his birthday raises dust

 Lady’s celebration of her dad on his birthday raises dust

click on this...→https://twitter.com/instablog9ja/status/1626586998470488066?s=20

CLICK →Family romance 

General Overseer, Theology Student Arrested Over Dubai-Bound Meth, Skunk

Operatives of the National Drug Law Enforcement Agency (NDLEA), have arrested the founder and General Overseer of Seraphic and Sabbath Assembly, Lagos, High Priest Nnodu Azuka Kenrick; a student of Emmanuel College of Theology, Samanta, Ibadan, Udezuka Udoka and their freight agent, Oyoyo Mary Obasi.

They were apprehended over an attempt to export methamphetamine and skunk consignments concealed in kegs of palm oil through the NAHCO export shed of the Murtala Muhammed International Airport, MMIA, Ikeja Lagos to Dubai, United Arab Emirate.

High Priest Nnodu was arrested on Saturday 11th February 2023 at his Seraphic and Sabbath Assembly church located at No 1, Sabbath Close, Ijesha area of Lagos following the arrest of two suspects: Oyoyo Mary Obasi and the theology student, Udezuka Udoka on Thursday 9th February at the Lagos airport in connection with the seizure of 283 parcels of skunk weighing 14.90 kilograms and 204 grams of methamphetamine concealed in four 25-litre kegs of palm oil for export to Dubai.

In her statement Mary indicted the General Overseer of her new-found church, Nnodu and his son, Chisom Obi, who is now at large as the persons that gave her the consignments for export after being compelled to take an oath of secrecy as well as a sacrifice of chicken in the church while High Priest Nnodu prayed for her for the success of the transaction.

Spilling the bean on how she was recruited by her church’s GO, Mary said the clergyman and his son used threats to compel her to take the job after they knew she had known their secrets, adding that High Priest Nnodu was always referring to the illicit drugs as Ice and Bible, (Street names for Methamphetamine and Cannabis) in their telephone text message chats.

The theology student, Udezuka was introduced to Mary to assist her because she was new in the illicit business. Udezuka said he was paid N2million for his role and had to do it because he needed the money for his education.

Another attempt to send a consignment of skunk and tramadol 225mg to the UAE by a Dubai-returnee, Nnamani Monday Innocent was also frustrated following his arrest at Trade Fair complex in Ojo area of Lagos, where he had gone in company of his friend Nwanana Emmanuel Ikechukwu with the cargo to a freight company to process the consignment for export on Tuesday 7th Feb.

In the same vein, NDLEA operatives attached to the SAHCO export shed of the Lagos airport same day intercepted a cargo going to London, United Kingdom. In the consignment containing food items packed in a carton, the four walls of the carton were used to conceal 1.10 kilograms of methamphetamine while the freight agent, Agholor Emmanuel, who presented the cargo for export was immediately arrested.

Meanwhile, NDLEA operatives on Tuesday 7th Feb intercepted a consignment of 1,340 kilograms of cannabis sativa coming from Ogbese, Ondo state in a liquified natural gas truck to Okurikang Okoyong in Odukpani LGA, Cross River State. Following credible intelligence, the movement was monitored for three weeks and upon arrival, 130 bags of cannabis weighing 1.430 tons were recovered from the LNG truck and 13 motorcycles which were hired by the cartel to convey the consignment deep into the forest.

In Kano, four suspects: Ado Shuaibu; Yahaya Shuaibu; Mamman Sani and Umar Musa Yakubu were arrested in connection with the seizure of 229 blocks of skunk weighing 131.1kgs. While Umar was arrested on Tuesday 7th Feb at Tumfafi village, Kano, the trio of Ado, Yahaya and Mamman were nabbed on Saturday 11th Feb at Garin Balarabe, Maigatari, Jigawa state in a follow up operation. Another suspect, Aisha Muhammad was arrested in Koki area of Kano with 17kgs cannabis.

In another development, no fewer than four members of a syndicate using dispatch motorcycles to distribute illicit drugs in Lekki area of Lagos were arrested on Sunday 5th Feb. They include: Tijani Oladapo Hakeem; Eric Maku; Ahmed Jubril Olamide and Adobi Fortune Chris. At the time of their arrest, 1.88kgs of Loud and assorted paraphernalia were recovered from them.

While 79.1kgs skunk were seized during a raid in Patey area of Lagos Island on Tuesday 7th Feb by NDLEA operatives, a total of 2,370.06 kilograms of cannabis and two boats seized at a jetty in Lagos by men of Civil Defence Corps were handed over to the Lagos command of the Agency.

In his reaction to the arrests and seizures of the past week, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) commended the officers, men and women of the MMIA, Cross River, Kano, and Lagos commands for their commitment and professionalism towards ridding Nigeria of the menace of illicit drugs.

He said the Agency will continue to target anyone or group involved in the criminal trade without fear or favour while urging all NDLEA officers across the country to remain unrelenting in the pursuit of the corporate goal.

 

 

 

 

Naira Swap: El-Rufai Inciting Nigerians Against Buhari’s Orders, Says Bwala

 The spokesperson for the Peoples Democratic Party Presidential Campaign Council (PDP-PCC), Daniel Bwala, has accused the Governor of Kaduna State, Nasir El-Rufai of inciting Nigerians against the order of President Muhammadu Buhari on the naira swap policy.

Buhari had in a national broadcast on Thursday, ordered that the old N200 banknotes remain in circulation till April 10, while the old N500 and N1,000 bills cease to serve as legal tender.

However, in a later broadcast, El-Rufai faulted the President’s directive and ordered Kaduna indigenes to continue spending the old notes, citing the Supreme Court order which had stopped the central bank for barring use of old notes.

“Governor El-Rufai sat and addressed the people of Kaduna State and by extension the members of APC throughout the federation of Nigeria that they should disobey the orders of President Buhari who stands as the symbol of the sovereignty of the country.

“The El-Rufai that is inciting Nigerians to rise against the government because the government violate orders, let me tell you, as the FCT Minister, El-Rufai disobeyed all court orders and demolished houses,” Bwala alleged.

The PDP campaign spokesperson also said that the APC has never at any material time in the last eight years demonstrated their sympathy to Nigerians. He argued that their behaviour that seems “as if they care” was a belated act.

Bwala, who is of the school of thought that the APC wants to give the impression that they are considerate to Nigerians so that they would be voted for, called it a ploy to deceive the people.

 

 

 

Obaseki Has No Right To Order My Arrest, Says Oshiomhole

 

Edo state governor...Adams

A photo combination of Edo State Governor, Godwin Obaseki and APC National Chairman, Adams Oshiomhole

A former governor of Edo State, Adams Oshiomhole, has dismissed the call for his arrest by incumbent Governor Godwin Obaseki, saying his successor has no right to give such an order.

The two political gladiators have been at odds with each other for years, a feud that led to Obaseki, elected in 2016 on the platform of the All Progressives Congress (APC) in his first term, forced to defect in 2020 to the Peoples Demcoratic Party where his re-election bid was achieved.

On Wednesday, violent protests in the state over a controversial naira swap policy by the Central Bank of Nigeria (CBN) and the ensuing scarcity of new currency prompted a response by the state government in which it accused Oshiomhole of masterminding the demonstrations.

Obaseki was quoted as alleging that the former governor mobilised thugs to vandalise banks and disrupt the peace of the state over the naira scarcity.

“At this stage, we call on security agencies to arrest Adams Oshiomhole for questioning and to account for his movement, especially here in Benin City in the last few days. He deliberately instigated the protest of the people,” read the statement by the state Commissioner for Communication and Orientation, Chris Nehikhare.

But Oshiomhole, addressing journalists in Edo State on Friday, said his reaction to the allegation was one of amusement.

“When I read initially on social media… that Obaseki has ordered the police to arrest me, I had a very good laugh.

“First, because Obaseki doesn’t know that he doesn’t have the power to order the arrest of a citizen. And that’s the reason why some people have reservations about what people like Obaseki talk about state police.”

The APC senatorial candidate in Edo North argued that it was up to the law enforcement agencies to investigate anyone they deemed a person of interest and that if found wanting, they may be invited for questioning.

“The police have not – and I would be surprised if they have now – generated to the level of taking orders from a politician who is faced with a crisis of confidence and the people are revolting against him,” he added.

Oshiomhole revealed his idea of an ideal political leader and how government should respond.

“A governor or a leader must be able to win the hearts of his people and talk them out of bitterness, and above all, give them hope that whatever are the challenges that they face, the government is in a position to do something about it. This is what the government should do.”

Noting that protests were part of democratic ideals, Oshiomhole however denounced the riots that broke out across the state.

“I believe Nigerians have a right to protest against anything that they are not happy about. But I also want Nigerians to understand that there’s a huge difference between protest and rioting.

“The problem of rioting is like shooting a gun into a market: you don’t know who it will hit. But when you peacefully decide to protest, that is what distinguishes a free people from slaves,” he said.

 

 

 

 

Banksy Unveils New ‘Valentine’s Day Mascara’ Artwork

 

Workers remove a chest freezer that had formed part of an artwork, acknowledged to by street artist Banksy, from the side of a house in Margate, south east England on February 14, 2023. – The artwork appears to show a a 1950s housewife with a swollen eye, missing a tooth, and apparently shutting a man in a freezer. The freezer was later removed by council workers. (Photo by William EDWARDS / AFP) 

British graffiti artist Banksy on Tuesday unveiled his latest UK street artwork, which appears to take aim at domestic violence against women as the world celebrates Valentine’s Day.

The mural, which appeared in Margate in southeast England, depicts a 1950s-style housewife with a swollen eye and a missing tooth seemingly shoving her male partner into a real chest freezer.

Despite being integral to the artwork, the abandoned freezer was later removed by council workers.

The elusive Banksy, whose true identity remains unconfirmed, posted three images of the work — which he entitled “Valentine’s Day Mascara” — on his Instagram account.

Two of the images were close-ups showing the woman, wearing a blue pinafore and yellow washing up gloves, smiling but seemingly with a battered face.

Workers claiming to be from Thanet council, the local authority administering Margate, arrived at the site mid-morning Tuesday to clear away the dilapidated household appliance.

The move prompted bemusement — and even conspiracy theories — among bystanders, who noted it was usually hard to get the council to make prompt removals.

“People were sort of like, ‘Stop, stop, you know, this is a Banksy, right?'” local resident Laura Holden, 35, told AFP.

“And they (the workers) were like, ‘Yeah, no, we’ve got permission to take everything away’,” she said.

“It felt like it was part of the piece, and perhaps Banksy intended that all along, because we all know how hard it is to get Thanet District Council to come and collect our rubbish.”

Thanet council could not be reached for comment.

Others commended the apparent theme of the now-altered work.

“I think it’s amazing,” said Amanda Barden, 56.

“It’s a real topic that people can talk about, domestic abuse. I think the reference to Valentine’s Day as well, it’s bringing people in, it’s going to open up that dialogue.”

 

 

 

Banksy, known to hail from Bristol in southwest England, has been busy producing and selling dozens of limited-edition screen prints to raise funds to support civilians affected by the war in Ukraine.

The 50 prints, which show a mouse sliding down the side of a box with “FRAGILE” printed on it, were sold in December for £5,000 ($6,100) each, through the charity Legacy of War Foundation.

Their online auction attracted thousands of “hostile” web attacks launched from Russian internet addresses, the charity said at the time.

The artist also confirmed last month that he was behind seven murals that appeared on destroyed buildings around Kyiv last year.

 

The artwork appears to show a 1950s housewife with a swollen eye, missing a tooth, and apparently shutting a man in a freezer. The freezer was later removed by council workers. (Photo by William EDWARDS / AFP)

 

 

 

Unrest In Port Harcourt Over Naira Swap Policy

 

Some residents of Rivers State on Friday took to the streets of Port Harcourt, the state capital to protest the Federal Government’s monetary policy and the scarcity of the naira notes.

The epicentre was the popular and busy Mile three market along Ikwerre road in Port Harcourt City Loca Government Area.

The protest, however, turned violent a few minutes later, as hoodlums who are always available in the market area seized the opportunity to forcefully dispossess people of their property.

Shops were also burgled and the windshields of cars along the streets were smashed.

Passersby and drivers were also said to be injured by the hoodlums.

The ugly incident has halted commercial activities in the onece busy area, as shops are now closed and the road deserted following fear that the protest may escalate.

The Rivers State Police command is yet to comment on the issue as calls and messages to the Police Public Relations Officer, Grace Iringe-Koko went unreplied, while the Commissioner of Police responded with “I can’t talk now” via text message.

However at the time of filling in this report, a meeting between the CP and the Navy Commander is ongoing, though we are unable to verify if it is related to the ongoing disturbance.

Governor Nyesom Wike during a media chat yesterday called for calm in the state, saying it is important for residents to keep the state safe.

 

 

CBN Denies Directing Banks To Collect Old N500, N1,000 Notes

 The Central Bank of Nigeria (CBN) has denied reports making the rounds that it has authorized deposit money banks to collect the old N500 and N1,000 banknotes.

 

In a statement by CBN’s Director of Corporate Communications Osita Nwanisobi on Friday, the apex bank said the apex is only reissuing and recirculating the old N200 banknotes which is expected to circulate as legal tender up to April 10, 2023, in line with President Muhammadu Buhari’s directive.

The CBN advised the public to disregard any message and/or information not formally released by the bank on this subject.

It also advised media practitioners to endeavour to verify any information from the correct sources before publication.

 

Buhari had in a nationwide broadcast on Thursday, directed the CBN to release old N200 notes into circulation to co-exist with new N200, N500, and N1,000 banknotes for 60 days.

He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.

The President also apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.

Meanwhile, his directive has generated reactions from different quarters with some in disagreement while others were in support.

The Speaker of House of Representatives, Femi Gbajabiamila, described it as a step in the right direction, but says it falls short of the Supreme Court order that the old currencies remain legal tender pending the adjudication of a pending suit brought by state governments on the legality of the policy and its implementation.

Also, the Kaduna State Governor, Nasir El-Rufai, frowned at the President’s directive, describing it as a total disregard of the Supreme Court on the matter.

But a human rights activist, Prof. Chidi Odinkalu, while speaking on Channels Television’s The 2023 Verdict on Thursday, backed Buhari.

According to Odinkalu, Nigerians are ready to endure the sufferings that come with the cash scarcity caused by the naira redesign policy of the CBN long as it ensures the upcoming general elections will be credible.

 

 

Jigawa Govt Vows To Enforce Supreme Court Order On Naira Redesign

The Jigawa State Government has vowed to enforce the Supreme Court order restraining the Federal government from banning the old naira notes as legal tender.

This was contained in a public notice made available to newsmen by the Jigawa State Commissioner for Special Duties Auwal Sankara.

According to the public notice, commercial banks, corporate organizations, ministries, agencies, and traders must accept the old notes or face sanctions from the state government.

“It has come to its notice some individuals and corporate bodies are rejecting the now-old N200, N500, and N1,000 notes. The Jigawa State Government is concerned about the conduct of such individuals,” it read.

The statement added “Jigawa State Government respects the rights of its people and those rejecting the now-old currencies are enjoined to desist from disobeying the law and causing hardships to the people of Jigawa State.

“Jigawa State Government will not hesitate to use section 287(1) of the Constitution (as amended) and other extant laws to enforce the order of the Supreme Court of Nigeria.”

The Supreme Court of Nigeria earlier issued an order “restraining the Federal Government of Nigeria, either by itself or acting through the Central Bank of Nigeria CBN and/or commercial banks, ministries, parastatals, organizations or through any person or persons (natural and artificial) howsoever, from suspending or determining or ending on the 10th of February, 2023 the time frame within which the now older versions of the 200, 500 and 1000 denominations of the naira may no longer be legal tender pending the hearing and determination of the notice”.