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JUST IN: My Administration Will Review Naira Redesign Policy — Tinubu

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President Bola Ahmed Tinubu has vowed to review the naira redesign policy of his predecessor.

Tinubu made the vow in his inaugural address delivered at the Eagle Square, Abuja.

He also said both new and old currency notes would be treated as legal tender.

“Monetary policy needs thorough house cleansing. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment, and jobs that power the real economy,” he said.

“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level. Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.

“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”

 

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JUST IN: Governor Sanwo-Olu Appoints Egube As New Deputy CoS

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The Lagos State Governor, Babajide Sanwo-Olu, has appointed former commissioner for Budget and Economic Planning, Sam Egube, as the new Deputy Chief of Staff.

Egube was appointed by the governor after the seat became vacant following the demise of his former Deputy Chief of Staff, Gboyega Soyannwo.

Sanwo-Olu announced the former commissioner’s appointment barely a week after Soyannwo was laid to rest amid eulogies in the state.

The governor announced Egube’s appointment on Wednesday during the commissioning of 15 high capacity ferries designed to increased ridership on waterways across the state.

 

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JUST IN: CJN Summons Judges Over Conflicting Orders On Kano Emirship Tussle

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Olukayode Ariwoola, the Chief Justice of Nigeria (CJN), has invited the chief judges of the federal high court and the Kano state high court over conflicting orders on the emirship tussle in Kano.

Both courts have issued conflicting interim injunctions on the tussle between Aminu Bayero, the dethroned Emir; and Muhammadu Sanusi, the reinstated Emir.

The orders have exacerbated the tension and chaos in the state.

 

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BREAKING: President Tinubu Signs Bill To Reintroduce Old National Anthem Into Law

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has signed the bill seeking to reintroduce the old national anthem into law.

Godswill Akpabio, senate president, made the announcement at the joint sitting of the senate and house of representatives on Wednesday.

Akpabio said the president signed the bill into law on Wednesday morning.

 

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