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JUST IN: Buhari To Extend Validity Of Old Naira Notes Till April 10 —- Report

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President Muhammadu Buhari is considering extending the validity of old naira notes by 60 days, TheCable is reporting.

This is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old N1,000, N500, and N200 notes remain valid until it delivers judgment in the case filed by some states against the federal government.

The CBN had insisted that the deadline of February 10 would not be changed but a senior government official told TheCable that Buhari was worried about the hardship faced by Nigerians as well as the legal implications of disobeying the order of the constitutional court.

The official told TheCable that this was the focus of a meeting between Buhari and the leadership of the Nigeria Governors Forum (NGF) as well as the Progressives Governors Forum (PGF) until the early hours of Wednesday.

The governors were then expected to withdraw their case at the apex court.

“The resolution was to give room for President Buhari to make concessions on the monetary policy and make the following announcements public,” the official said.

“One, that the old naira notes of N1,000, N500, and N200 be allowed free movement in and out of the banks for the next 60 days.

“Two, that all three notes will be legal tender during this period, but that any old N500 or N1,000 that goes into a bank will not be sent back into circulation.”

The official said that while others were “on the same page with the president”, Nasir el-Rufai, governor of Kaduna state, insisted on total cancellation of the policy.

Buhari, who had earlier delayed attending the federal executive council (FEC) meeting by 40 minutes to monitor the development at the Supreme Court, was disappointed that the governors reneged on their promise to withdraw the case.

He had, after the meeting on Wednesday, met with Godwin Emefiele, the CBN governor, and Modibbo Tukur, the director of the Nigerian Financial Intelligence Unit (NFIU), on the need to allow all old notes to circulate in the system to ease the hardship on ordinary Nigerians.

“The president will not disobey the court. But he is also concerned about the suffering of Nigerians and wants to find a lasting solution to it,” the official further explained to TheCable.

“It is clear that some militancy is being propagated against the people by elite who have the means to secure the new notes no matter what while the people continue to suffer.

“The president will continue to engage and see the way out of the logjam.”

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Nationwide Protest: Hon. Amusan Calls For Patience, Restraint

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A former House of Representatives member from Ogun State, Hon. Kayode Jelili Amusan has pleaded with the organizers of the planned nationwide protest tagged ‘End Bad Governance’ slated for August 1, 2024 to reconsider their stance and rather show more understanding and patience towards the many initiatives and programs the Federal Government is deploying towards alleviating the present harsh economic realities the nation is presently facing.

He further advised that rather than embark on protests that may spiral out of control and lead to a breakdown of law and order, as recently witnessed in Kenya, the brains behind the protests should rather seek a way where themselves and representatives of the Federal Government can sit on a round table and they can put their demands forward and even ask for specific timelines to realistic demands, urging that politicizing the situation may not be in the best interest of the nation.

According to Amusan, ‘’the present economic realities of our nation call for a concern and we need concerted efforts, both on the part of the elected government officials and the people being governed to pull through and return our nation to the path of economic recovery. The people have a right to protest and make their grievances known to the government but the truth is, as we have seen with Kenya, protests without identified leaders can be hijacked by people with ulterior motives and then we have a breakdown of law and order. Nigeria cannot afford any at a time like this. What we need is to come together as a people, both the government and the governed and find lasting solutions to the many challenges we are facing as a people. The current economic situation in the country is not one anyone should be proud of, regardless of our political or social standing. As we have seen that the government is putting measures in place to arrest the situation, what we need right now is not a protest but concerted efforts at returning our nation to its days of self-sufficiency and prosperity’’.

Amusan also commended the judiciary and the Bola Tinubu government for the recent Supreme Court pronouncement on local government autonomy. According to him ‘’the local government is the closest to the people, it should be synonymous with rural development, empowerment and any efforts towards strengthening it should be supported’’. The Supreme Court’s landmark judgement included a decision that overturned the longstanding practice where state governments received federal allocations on behalf of local government areas and withheld the funds. Nigeria’s Supreme Court affirmed on 11 July the financial autonomy of the nation’s 774 local governments.

Hon. Amusan, a two-time governorship aspirant in Ogun State is the chairman of Kamson Holdings Limited and represented Abeokuta North/Odeda/Obafemi-Owode Federal Constituency from 2003-2011 in the House of Representative

 

 

 

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BREAKING: Senator Ifeanyi Ubah Dies In London

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Renowned businessman and politician, Senator Ifeanyi Ubah, has reportedly passed away in London.

The Senator from Anambra State had recently joined the All Progressives Congress (APC) and was considering seeking the party’s nomination for the upcoming governorship election in Anambra State.

While details surrounding his death are still limited, sources indicate that he made a financial contribution to the Anambra APC just two days prior.

This news comes shortly after the passing of Chief Emmanuel Iwuanyanwu, President-General of Ohanaeze Ndigbo.

 

More to come…

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IGP Egbetokun Finally Approves Hunger Protest, Asks Organisers To Submit Names, House Addresses, Others

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On Friday, Inspector-General of Police Kayode Egbetokun requested that all groups planning to participate in the upcoming nationwide protest provide their details to the Commissioners of Police in their respective states.

During a press briefing at the Force Headquarters in Abuja, Egbetokun explained that this request is aimed at ensuring a peaceful protest.

Additionally, Egbetokun revealed that the police have received intelligence indicating that foreign mercenaries are involved in the planned protest.

This information has raised concerns about potential violence and unrest, prompting the police to take proactive measures to maintain public safety and order.

By submitting their details, protest groups can help the police to better understand their plans and take necessary steps to prevent any potential disruptions or security threats.

He said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest. However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.

“To facilitate a successful and incident-free protest, they should please provide the following information.”

Other guidelines, according to him, are “stating the proposed protest routes and assembly points. 2. Expected duration of the protest. 3. Names and contact details of protest leaders and organizers.

“Measures to prevent hijacking by criminal elements, including key identifiers for possible isolation of potential troublemakers. By providing this information, the police will be enabled to deploy adequate personnel and resources to ensure public safety.

“Designate specific routes and areas for the protest to avoid conflicts with other events or activities. Establish clear communication channels with protest leaders to address any concerns or issues that may arise.

“Minimize the risk of violence, property damage, or other criminal activity. We encourage all protestors to cooperate with the police, obey the law, and adhere to global best practices for peaceful assembly to guarantee a safe and successful exercise of their rights.”

The top cop said they have been monitoring development surrounding protest threats, saying while some groups call for violent protests, emulating Kenya’s recent events, others advocate for peaceful demonstrations.

“However, some individuals promote peaceful protests with violent undertones, raising concerns about their sincerity. We have our history of violent protests in Nigeria, and I don’t believe we have to look to other countries to note the dangers of unchecked demonstrations.

“We commend patriots who have withdrawn from the protest due to the apparent sinister motives and ignorance of those calling for violence. We note those who have spoken out against any form of protest at this critical juncture, fearing enemies of our country may be manipulating the process.

“We confirm their fears are genuine, as we have credible intelligence on foreign mercenaries’ involvement in this planned protest. The Nigerian police urge all Nigerians to exercise caution and think twice before joining any protest group.”

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