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The Federal Capital Territory (FCT) Police Command has recently made a number of arrests in an operation targeting a syndicate believed to be involved in manipulating the Bimodal Voters Accreditation System (BVAS).
The sting operation in question took place on Ghandji Street in the Maitama area of the FCT, and the arrested suspects are now being held in custody while the police investigate the allegations of illegal possession and manipulation of the BVAS.
It is understood that one of the suspects detained is the Vice President of Emperor Technology, a company who are helping with the police investigation.
Arise TV reported on the story, with their sources suggesting that the suspects had been apprehended and would remain in custody until all investigations had been completed.
The nature of the alleged crime as well as the involvement of the Police Force serves as a warning to anyone looking to conduct a similar offence or illegally tamper with the BVAS voting system.
Police have a clear message for anyone looking to commit such a crime: those found to be in violation of the law will face punishment accordingly.
It is not known the extent of penalties the arrested suspects will face, or whether additional arrests will be made in connection with the case, but police are continuing with their investigation for further information regarding the syndicate.
Credit: https://www.thenicheng.com/breaking-police-arrest-suspected-syndicate-behind-bvas-manipulation/
ENND
The Federal Capital Territory Police Command is currently investigating a video circulating on social media that claims to show police operatives arresting alleged manipulation of the Bimodal Voters Accreditation System in Abuja on Tuesday.
According to a report by The PUNCH, the purported video had a caption asserting that the arrests were due to tips from anonymous sources that the location was used for corrupting last Saturday's elections.
Among the alleged items discovered at the premises were BVAS machines, laptops, desktop computers, and other materials.
When asked about the incident, SP Josephine Adeh, Police Public Relations Officer for the FCT, stated that police could not yet verify the video's authenticity, explaining that the individuals in the video did not appear to be officers of the command due to contrasting uniforms.
Adeh further mentioned that investigations are still underway, and that the public will be informed of the findings in due time.
Credit: https://punchng.com/were-investigating-video-over-suspected-bvas-syndicates-arrest-fct-police/
ENND
Dr Ramatu Tijjani Aaliyu, the Minister of State for the Federal Capital Territory (FCT), has stated that the Tinubu/Shettima presidential administration will bring a new direction to the country in the lead up to the upcoming presidential election.
Aaliyu was accompanied on a special medical outreach to an all-Christian community in Piwoyi, Abuja Municipal Area Council, by members of the All Progressives Congress (APC) and a support group for the presidential candidate, Asiwaju Bola Ahmed Tinubu and Senator Kashim Shettima - proclaimed as "Nigerians Unite for Tinubu/Shettima" (NUFTS).
The objective of the medical outreach was to extend help to those who cannot afford to manage their health.
Aaliyu also prescribed that members of the community who are eligible voters with Permanent Voter Cards (PVCs) should add their vote to the APC candidates, Tinubu and Shettima, as well as all other FCT candidates on Saturday, February 25.
She stressed the importance of being law-abiding during and after the elections, while also encouraging a commitment to build a better and greater Nigeria.
The Minister also distributed assorted foodstuff including bags of rice to members of the community, one of many palliatives intended to address the current financial hardship in the country.
On another note, Aaliyu shared in the celebration of the local Archbishop Emmanuel Musa Jatau's birthday.
The Archbishop was deeply appreciative of the honour paid to him, and he prayed for Aaliyu while referring to her as a maternal figure of the nation who puts humanity first.
A total of 727 bags of food items had been part of the outreach, which are being shared among the 62 wards in FCT.
Aaliyu’s aim with the medical outreach and food supplies is to benefit the indigent and vulnerable, by alleviating their plight caused by health and economic challenges in their respective communities.
This initiative is a reflection of the positive change promised by the Tinubu/Shettima presidency.
Credit: https://allafrica.com/stories/202302240311.html
ENND
The Independent National Electoral Commission (INEC) released the number of Permanent Voter Cards (PVCs) collected and uncollected before the approaching elections on Thursday.
The collection of PVCs came to a close on February 5 after the commission extended the process twice.
Records showed that 87,209,007 PVCs were collected while 6,259,229 were still uncollected by February 5.
This data was presented by the INEC Chairman, Prof. Mahmood Yakubu at the National Collation Centre in Abuja.
The documents showed that Lagos has the highest number of collected PVCs with 6,214,970.
This is followed by Kano with 5,594,193 and Kaduna with 4,164,473.
On the contrary, Ekiti State has the least number of collected PVCs at 958,052.
Abia has 1,949,197 collected PVCs; Adamawa, 1,970,650; Akwa-Ibom, 2,198,628; Anambra, 2,624,764; Bauchi, 2,721,780; Bayelsa, 1,009,895; Benue, 2,607,141; Borno, 2,447,209; Cross River, 1,672,810; Delta, 2,989,514; Ebonyi, 1,551,795; Edo, 2,128,288; Enugu, 1,995,389; Gombe, 1,534,954; Imo, 2,280,339; Jigawa, 2,298,365; Katsina, 3,459,945; Kebbi, 1,980,171; Kogi, 1,813,741; Kwara, 1,537,275; Nasarawa, 1,847,752; Niger, 2,633,728; Ogun, 2,278,063; Ondo, 1,729,641; Osun, 1,594,066; Oyo, 2,761,421, Plateau, 2,687,533; Rivers, 3, 285,785; Sokoto, 2,097,789, Taraba, 1,825,325; Yobe, 1,437,851; Zamfara, 1,850,055; and the FCT, 1,476,451.
INEC reported that as of February 5, 87,209,007 PVCs had been collected while 6,259,229 were uncollected across the nation.
With Lagos having the highest collected PVCs at 6,214,970, followed by Kano with 5,594,193 and Kaduna, 4,164,473.
On the contrary, Ekiti State having the least at 958,052.
The documents for each state's collected PVCs showed that Abia, Adamawa, Akwa-Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, Zamfara and FCT all recorded different successes in their collections.
Credit: https://punchng.com/87-2m-pvcs-collected-lagos-kano-kaduna-top-list/
ENND
Yesterday, lawyers in Enugu State protested the death of their senior colleague, Oyibo Chukwu, a Labour Party (LP) candidate for Enugu East senatorial district.
The lawyers boycotted the courts in their state for 48 hours, in an attempt to force the government and police to address the situation.
The incident happened on Wednesday night at Eke-Otu Amechi-Awkunanaw Enugu when Chukwu and his supporters were attacked, killed and set ablaze in the vehicle by unknown assailants.
On the same night, at Topland by Ebony Paint Road Amechi Awkunanaw, Offor Chukwuegbo's campaign vehicle was set ablaze and the driver, KC Great, died in the fire.
In response to the incidents, Police Commissioner Ammani ordered investigations and manhunt for the offenders, along with visiting the scenes of the crimes.
The chairmen of the five branches of NBA in Enugu then addressed newsmen at the state High court to express their shock and disappointment, as well as demand for the killers to be brought to justice within 48 hours.
Seth Nwokolo claimed the murder was politically motivated and that it should serve as an example, in warning whoever else may be next.
Charles Nwagbara explained that an injury to one is an injury to all and Chijioke Eze claimed it was a sign of increasing insecurity in Enugu.
The Federal Capital Territory Commissioner of Police Sadiq Abubakar reported 17,401 security personnel were assigned to help maintain peace during the elections.
Nonetheless, the death of Chukwu and his supporters have caused a fair amount of revulsion throughout the state, exemplified through the act of boycotting courts.
Credit: https://www.sunnewsonline.com/oyibo-chukwu-enugu-lawyers-boycott-courts-give-security-agents-48-hours-to-arrest-killers/
ENND
The Independent National Electoral Commission (INEC) said elections will hold in 240 Polling Units (PUs) across 28 States and the Federal Capital Territory (FCT).
According to INEC, the development is informed by absence of voters in the polling units but the exercise will hold in 176,606 out of the total 176,846 PUs.
Mahmood Yakubu, the INEC chairman said this at a meeting with the 18 registered political parties in Abuja on Monday.
Yakubu said no new registrants chose the PUs and no voters indicated interest to transfer to them during the last continuous voter registration (CVR) exercise, mainly for security reasons.
He said INEC state offices had redistributed voters from overcrowded PUs to new ones to avoid congestion during elections.
The chairman said INEC had in 2021 expanded access as it increased the number of PUs from 119,973 to the current figure of 176,846.
“However, there are 240 polling units without registered voters spread across 28 States and the Federal Capital Territory (FCT). They range from one PU to 12 PUs in each State and the FCT, except Taraba and Imo states with 34 and 38 PUs respectively.
“No new registrants chose the PUs and no voters indicated interest to transfer to them during the last Continuous Voter Registration (CVR), mainly for security reasons. “This means that no elections will hold in these polling units,” Yakubu said.
He also said from the feedback INEC received from its officials and accredited observers following the recent nationwide mock accreditation using the Bimodal Voter Accreditation System (BVAS) it is clear that some voters could not easily identify their polling units.
Yakubu said this should not happen on election day and advised voters to confirm the locations of their polling units through a dedicated portal on our website.
The INEC helmsman said: “In addition, all voters who have been assigned to new polling units will receive text messages from the commission indicating their polling units.
“We have also compiled the register of such voters and our state offices will give it wide publicity, especially for those who may not have provided their telephone numbers during voter registration or those whose numbers may have changed.
“Voters can locate and confirm their polling units before election day by sending a regular text or WhatsApp message to a dedicated telephone number. Details of the simple procedure will be uploaded to our social media platforms shortly,” he said.
He also said the commission is finalising the issuance of 1,642,386 identification tags for the Polling and Collation Agents nominated by the 18 political parties made up of 1,574,301 Polling Agents and 68,085 Collation Agents.
Yakubu warned that a situation where two or more agents claim to represent a political party, resulting in commotion at polling units or collation centres, is unacceptable.
“Only identification tags issued by the commission will be recognised on election day and violators are liable to arrest and prosecution for impersonation,” he added.
Yakubu also expressed worry over the ongoing electioneering campaigns, especially on violent attacks on supporters of political parties across the board, resulting in the loss of life in some cases.
“Let me once again appeal to chairman and leaders of political parties to continue to call your candidates and supporters to order.
“I also call on the security, intelligence and law enforcement agencies to arrest, investigate and prosecute anyone involved in violent conduct, including incendiary statements capable of inciting a breach of the peace,” he said.
In his remarks, Sani Yabagi, the national chairman of the Inter Party Advisory Council (IPAC) said the parties are prepared to ensure the success of the elections, stressing that under no circumstances should the polls be postponed.
Yabagi also reiterated the continual commitment of IPAC to the long standing cooperation and mutually beneficial relationship between the parties and INEC.
“I would want to admonish party leaders that having observed that the elections are conducted free, fair and credible, the result should be accepted for the love of our country.
“I want to use this occasion to also reaffirm the confidence of IPAC in the leadership of INEC for its consistent demonstration of diligence, uncommon zeal and patriotism in the pursuit of the agencies statutory mandate.
“On the basis of our evaluation that INEC has been well on track, the leadership of IPAC additionally wishes to use this occasion to commend, the efforts of INEC in confronting the extraordinary environmental challenges occasioned by naira redesign and fuel scarcity through Mr. Chairman’s visit to the relevant agencies.
“By what we hear and read in the news, your mock accreditation exercise was a success. That is very encouraging. As we know, a mock examination cannot be taken to be the real examination whose coverage is wider and complex.
“So far, the BVAS that were used were reported to have performed perfectly. We areencouraged by this and also wish to appreciate INEC while expecting them to keep the flag of perfection flying,” he said.
Meanwhile, the United States (US) said it is not backing any candidate or party but it supporting the electoral process and consolidation of democracy in Nigeria.
Molly Phee, the US Assistant Secretary of State for Bureau of Africa Affairs made the pledge when she was accompanied by Mary Beth Leonard, the US Ambassador to Nigeria on a courtesy visit to the INEC chairman in Abuja.
Pheee said the concern of US as an advanced democracy is to encourage a successful election that is free and fair and peaceful in the Nigeria.
“Since 1999, Nigeria has been moving up in solidifying and consolidating its democratic trajectory. And now, under the leadership of the chairman and the support of his superb team, all Nigerians can have confidence in the integrity of the upcoming election.
“I do want to emphasise the importance of conducting a peaceful election and I do want to emphasise that every citizen, every stakeholder, every party involved in the election has a responsibility before the election during the campaign period, during the election and after the election, to be peaceful. It’s very important. It’s a challenge we faced in my own country,” she said.
In his response the INEC chairman, Yakubu said like the US, the commission is not a political and has no candidate it is backing but will uphold the choice made by Nigerians at the ballot.
“Like the United States, the commission is not a political party. We have no candidates and will only focus on the process. The choice ultimately belongs to the people of Nigeria and the commission will uphold the choice made by Nigerians. We are committed to free, fair, credible, inclusive and verifiable elections in 2023.
“The United States, understandably is interested in the Nigerian democracy and Nigeria is equally interested in the US democracy. I have said this in Washington for those who did not hear me I want to repeat it again. If the United States is the largest presidential democracy in the world, which country is the second largest presidential democracy in the world? It’s actually Nigeria.
“Based on the projection of Nigeria’s population in the next two years, who knows we may also utterly overtake the United States… the largest presidential democracy in the world. So we’re interested in ensuring that we consolidate our democracy. There is no system of government better than a democratic system where the will of the people will continue to prevail,” he said.
Credit: https://businessday.ng/politics/article/why-election-will-not-hold-in-240-polling-units-inec/
The Economic and Financial Crimes Commission (EFCC) has attributed recent protests calling for the removal of its chairperson, Abdulrasheed Bawa, to individuals smarting from their investigations for corruption.
The commission’s spokesperson, Wilson Uwujaren, addressed journalists on behalf of Mr Bawa at the EFCC headquarters in Abuja on Tuesday.
Mr Uwujaren described the protesters as “rented crowds” and said the commission would not be distracted by their demonstrations.
He said the information available to the commission, “indicates that persons under investigation by the commission sponsor the group.”
He also said the persons “have been mobilised and mandated by their paymaster to embarrass the person of the chairman through choreographed street protests across the country until he is removed from office.”
He said the commission needed to “raise the alarm about the activities of an amorphous group of so-called Civil Society Organisations” as such is “a campaign to discredit the person of the Chairman of the EFCC, Abdulrasheed Bawa and incite the public against the commission.”
“Contrary to these claims, the EFCC wishes to alert the public that this group have no interest in the fight against corruption and their allusion to disobedience of court orders by the EFCC chairman is an alibi to manipulate facts around judicial pronouncements and processes to pit the public against the commission,” Mr Uwujaren said.
There have been reports of protests by a group styled as the Coalition of Anti-Corruption Organisations calling for the removal of the EFCC chairman and his arrest for contempt.
One of the protesters, Ayodeji Ologun of the Transparency and Accountability Group, called on President Muhammadu Buhari to also overhaul the anti-graft commission to recover its past glory and for a better Nigeria.
The protests were triggered by a recent judgement of Kogi State High Court, Lokoja, that jailed Mr Bawa for contempt.
His conviction, the second in four months, followed a request by a nephew of Governor Yahaya Bello of Kogi State, Ali Bello, who accused the EFCC chair of violating a court judgement that declared his arrest and detention last year illegal.
Mr Bello said EFCC arraigned him on 15 December 2022 in violation of the court’s judgement.
Ruling, the judge, Rukayat Ayoola, ordered the Inspector-General of Police to arrest Mr Bawa and put him in prison “until he purges himself of the contempt”.
The police have yet to enforce the court order, while the EFCC has appealed against the court decision.
But undeterred, the commission went ahead to arraign Mr Bello on another set of N3 billion money laundering charges at the Federal High Court in Abuja.
Mr Bawa was earlier cited for contempt by the High Court of the Federal Capital Territory (FCT) in Abuja on 28 October 2022.
The court jailed Mr Bawa but the police, ordered to enforce the imprisonment, did not take any action.
In his application levelling a charge of contempt against EFCC and its chairperson, Mr Ojuawo accused the agency and its leadership of violating the court’s order on 21 November 2018, ordering them to return his seized Range Rover and N40 million to him.
But the court on 10 November 2022 nullified its committal order following an application by the EFCC chair to reverse itself.
Ruling on the request, Ms Oji said she was satisfied that the EFCC Chairman did not disregard the court’s orders, asking him to release seized assets belonging to Rufus Ojuawo, a retired air vice marshal.
The EFCC, on Tuesday, described the protesters’ call for Mr Bawa’s removal based on Mr Bawa’s conviction on contempt was aimed at inciting the public against the commission.
Mr Uwujaren said the group found its voice after the commission launched an investigation against a particular state for looting the treasury.
“Their latest dance in the market square came a few hours after family members of a sitting state governor were arraigned at an Abuja court for allegedly stealing the state’s funds,” he said.
“EFCC appeals to the public to disregard the campaign by this group as they do not represent the genuine interest of millions of Nigerians who are desirous of seeing progress in the fight against corruption,” the commission said.
1. The Economic and Financial Crimes Commission, EFCC, wishes to raise the alarm about the activities of an amorphous group of so-called Civil Society Organizations who have recently embarked on a campaign to discredit the person of the Chairman of the EFCC, Abdulrasheed Bawa and incite the public against the Commission.
2. The group, through press conferences and staged street protests, have been calling for the sack of the EFCC Chairman for alleged disobedience of court orders. They claim they are motivated by the need to strengthen the fight against corruption.
3. Contrary to these claims, the EFCC wishes to alert the public that this group have no interest in the fight against Corruption and their allusion to disobedience of court orders by the EFCC chairman is an alibi to manipulate facts around judicial pronouncements and processes to pitch the public against the Commission.
5. It is significant that this group found its voice after the EFCC launched an investigation into the mindless looting of the treasury of one of the states. This same group shouted that the Commission lacked the power to investigate the theft of the state’s resources. Their latest dance in the market square came a few hours after family members of a sitting state governor were arraigned at an Abuja court for allegedly stealing the state’s funds.
6. EFCC appeals to the public to disregard the campaign by this group as they do not represent the genuine interest of millions of Nigerians who are desirous of seeing progress in the fight against Corruption. The spectre of rented crowd, rented CSOs, etc are blights in our social fabric and manifest demonstration of how deep-seated corruption has permeated every sector of our society.
7. We want to assure Nigerians that the EFCC will not be distracted by this campaign of calumny as we believe that this agenda will fail.
8. It is also important to reassure Nigerians and all stakeholders that the Commission has never, and will not take any steps to undermine the judiciary. As a law abiding institution, EFCC has conducted all its activities within the ambit of the law. Where judicial decisions were made against it, it has never resorted to self-help but availed itself of remedies under the law as it did in the instant case of committal orders of court.
9. It is important to revisit the circumstances of the two orders of committal against the EFCC Chairman. The first order by an FCT High Court on November 8, 2022 was issued over the failure to comply with a November 21st, 2018 order of the court directing the Commission to return seized assets comprising a Range Rover SUV and the sum of N40, 000,000.00 (Forty Million Naira) to the applicant.
10. For the benefit of the public, the said order of the FCT High Court was given three years before Abdulrasheed Bawa became EFCC Chairman. Also, the contempt process is quasi criminal in nature and must be served on the person involved. In this case, Bawa as chairman of the EFCC, was neither served Form 48 nor Form 49.
11. Despite this fact, the Executive Chairman, upon being made aware of the said order of November 21st, 2018 had released the Range Rover in question to the Applicant on the 27th of June, 2022 and had approved the process of the release of the remaining N40m before the committal order was issued.
12. His action does not show contempt for the court or the judiciary which he holds in great esteem.
13. In the case of the last order by Justice R.O. Ayoola of the Kogi State High Court, the processes are still ongoing so I am constrained to make categorical statements. Suffice is to say that in invoking Form 49, the court failed to take cognizance of a pending appeal of its ruling of November 30, which directed the Commission to produce a fraud suspect, one Ali Bello. It also failed to transmit records of appeal to the Court of Appeal.
14. The Commission believes it was denied fair hearing as the alleged infringement of the rights of the applicant happened in Abuja which is outside the jurisdiction of the Kogi High court. As a law abiding institution, EFCC approached the appellate court, for a stay of execution. This is a valid and lawful remedy by law and does not evoke any aura of impunity or disregard for the judiciary.
15. It is therefore evident that those claiming that Bawa has a penchant for flouting court orders are simply up to mischief, which is clearly the central theme of the plot by the so- called civil society group.
Credit: https://www.premiumtimesng.com/news/top-news/581905-contempt-efcc-reacts-to-protests-calling-for-bawas-sacking.html
Elections will not be held in 240 polling units in 28 states and the Federal Capital Territory (FCT) Abuja, the Independent National Electoral Commission (INEC), has said.
This is because no voter chose the polling units during the last Continuous Voter Registration (CVR) between June 2021 and July 2022.
INEC Chairman, Mahmood Yakubu, disclosed this when he addressed members of the Inter Party Advisory Council (IPAC) at the INEC headquarters in Abuja on Monday.
According to him, the polling units are part of the over 56,000 newly created polling units.
INEC had from 2021 increased the number of polling units from a total of 119,973 to 176,846.
With this development, the presidential and national assembly as well as states and their houses of assembly elections will be held in 176,606 polling units, he added.
“There are 240 polling units without registered voters spread across 28 States and the Federal Capital Territory (FCT). They range from one polling unit to 12 polling units in each State and the FCT, except Taraba and Imo States with 34 and 38 polling units respectively.
“No new registrants chose the polling units and no voters indicated interest to transfer to them during the last Continuous Voter Registration (CVR), mainly for security reasons. This means that no elections will hold in these polling units.”
“You may recall that in 2021, with your support and that of other critical stakeholders, the Commission successfully expanded voter access to polling units 25 years after the last delimitation exercise in 1996. Consequently, the number of polling units increased from 119,973 to the current figure of 176,846,” Mr Yakubu said.
Meanwhile, the INEC chairman said voters whose polling units have been changed will receive text messages from the commission.
He said voters can also confirm the locations of their polling units through a dedicated portal on its website.
“From the feedback we received from our officials and accredited observers following the recent nationwide mock accreditation using the BVAS, it is clear that some voters could not easily identify their polling units. This should not happen on election day,” he said.
“We have also compiled the register of such voters and our state offices will give it wide publicity, especially for those who may not have provided their telephone numbers during voter registration or those whose numbers may have changed.
“Voters can locate and confirm their polling units before election day by sending a regular text or WhatsApp message to a dedicated telephone number. Details of the simple procedure will be uploaded to our social media platforms shortly.”
Mr Yakubu said the commission had redistributed voters to other newly created polling units to avoid congestion in pre-existing ones.
The redistribution was done only for voters in proximate locations, “where they are separated by distance, this must be done after consultation with the voters.”
According to him, “this has been done by our state offices nationwide.”
The INEC chairman said the commission would make available to Nigerians, a comprehensive list of the polling units by name, code number and their locations by state, local government and registration area.
Credit: https://www.premiumtimesng.com/news/more-news/581697-nigeriadecides2023-elections-wont-hold-in-240-polling-units-inec.html
Nairametrics' findings have shown that most bank ATMs across the country are still dispensing old N1,000 and N500 notes, just four weeks before the deadline set by the main bank.
The old N1,000, N500 and N200 notes will be decommissioned at the end of January 2023, following the launch of new notes by the Central Bank of Nigeria in December last year.
Remember that the CBN had announced in October 2022 the redesign of the N200, N500 and N1,000 banknotes in an attempt to curb counterfeiting and take control of the currency in circulation.
What the CBN said: According to the main bank's governor, Godwin Emefiele, the new and existing naira notes will remain legal tender and will circulate together until January 31, 2023, when the existing coins will become legal tender.
“For the purposes of this transition from existing to new notes, bank charges for cash deposits are waiving at this time effective immediately. Therefore, DMBs should note that no bank customer will be required to pay any fees for cash returned/paid to their accounts.” "Members of the public should note that these notes remain legal tender and should not be rejected as a medium of exchange for the purchase of goods and services," the bank stated.Old ATM bills: Meanwhile, several Nigerians have complained that most ATMs are still dispensing old notes, with less than four weeks to go until the deadline, while others told Nairametrics that they have yet to see or feel the new notes.
Nairametrics research notes that several ATMs across the country still dispense the old naira notes. In several southeastern states, tourists confirm that old naira notes are still being dispensed at ATMs. The same was observed in parts of the south-west, north-western states and in the FCT, Abuja. Our findings also indicate that N1000 notes were the most commonly loaded at ATMs and dispensed.The National Assembly rejects: Recently, the Nigerian Senate increased pressure on the Central Bank of Nigeria (CBN) to extend the deadline for the withdrawal of old naira notes from January 31 to June 30, 2023.
Senator Ali Ndume cited Orders 41 and 51 to request authorization from the Senate to present a motion on the urgent need to extend the withdrawal from circulation of the old coin. In addition, Senator Uzor Kalu also urged the CBN to go "until the end of April to allow people to deposit their cash in banks." The House of Representatives also requested CBN to stop the cash-out policy (which is also linked to the introduction of new naira notes) and invited the CBN Governor (who was out of the country) to appear before it to explain the reason for the movement.It is important to add that the Senate supported the introduction of new naira notes.
Without term extension: Central Bank of Nigeria Director of Currency Rasheed Adams, in a press briefing after the MPC meeting in November, noted that there will be no extension of the deadline for old notes, stating that the bank had received a sum of 165,000 million naira. of old banknotes as of November 2022.
According to the Central Bank's countdown clock, which it released on its website in early December, the current series of notes will be seized to maintain legal tender for 25 days. However, a major question raised by analysts is whether the remaining 25 days will be enough to swap old notes for new ones. The decision to stay short-term comes in the wake of the major hoarding of nairas, which is believed to be fueling the rising inflation rate in the country, which is already at a 17-year high despite monetary measures taken by the central bank. In an attempt to meet the deadline, the CBN told commercial banks to work on Saturdays. CBN also told Nigerians in the diaspora that it will not wait for them to replace the old naira notes beyond the January 31 deadline.However, older naira notes are still in circulation, casting a cloud of doubt over the January 31 deadline.
Secondly, the CBN revealed its plans to reduce the volume of higher denominations in circulation, citing that the volume of N1,000 and N500 in the economy is fueling Nigeria's high inflation rate.
This informed the reduction of the maximum daily withdrawal limit for OTC products to N500,000 and N5 million for individuals and companies respectively. Along the same lines, the main bank also ordered banks to restrict ATM cash dispensing to a maximum of N200 notes to reduce the volume of higher denominations in the economy.Related
Credit: https://nairametrics.com/2023/01/05/four-weeks-to-deadline-bank-atms-are-still-dispensing-old-naira-notes/ President Muhammadu Buhari is building the infrastructure needed to transition Nigeria to a manufacturing economy, the NASENI chief says Thursday.
Professor Muhammad Sani-Haruna, Executive Vice President of the National Agency for Science and Engineering Infrastructure (NASENI), said this at a ceremony in Bagudo, Kebbi State.
News Agency of Nigeria (NAN) reports that Sani-Haruna said this at the inauguration of the NASENI Skills Acquisition Center and the distribution of stoves and pots to 350 households in the area.
The stove and pots were invented by NASENI in collaboration with a German NGO.
“The soft component of the manufacturing or knowledge-based economy is quality human resources. This is the most important component, without which a country will remain an import-oriented economy.
“The technical knowledge necessary to guarantee the sustainability and maintainability of massive infrastructure in railways, aviation, bridges, health, energy and water resources, to name a few.
”(These) are provided by the administration of President Muhammadu Buhari; and they are the necessary prerequisite for Nigeria's transition to a manufacturing economy.
"This project is in line with His Excellency President Muhammadu Buhari's directives for us to carry out a youth empowerment and skills acquisition program in 36 states of the federation and the Federal Capital Territory (FCT)," said.
He thanked the Minister of Justice and Attorney General of the Federation, Abubakar Malami, for the donation of 20 hectares of land for the construction of the site in Bagudo.
Laying the foundation, Kebbi Governor Atiku Bagudu praised the federal government for finding Kebbi worthy for the project.
“We thank President Muhammadu Buhari for what he has been doing to Kebbi, especially the 100-bed hospital, the Immigrant Training Center, the only one in Africa, as well as the Federal College of Education (FCE), all in the Government Bagudo local,” he said. .
Bagudu called on the electorate to elect the All Progressives Congress (APC) in the upcoming general election to continue enjoying more democracy dividends in his area.
Malami praised NASENI for distributing modern stoves and pots to homes, saying the items would go a long way in minimizing the relentless felling of trees in the area.
He urged the electorate to choose the APC at all levels in the upcoming elections, adding that the Buhari administration has implemented many projects across the area.
