Connect with us

NEWS

Emefiele Bows to Gbajabiamila on Naira Redesign Policy

Published

on

Reps to Mount Diplomatic Pressure for Ekweremadu

Clear signs have emerged that the Central Bank of Nigeria (CBN) has been acting at variance with the CBN Act in blind pursuit of the naira redesign policy.

While appearing before the Ad Hoc Committee of the House of Representatives on Tuesday in Abuja, Governor, CBN, Godwin Emefiele assured that the February 10 date set for old notes to lose their legal status was no longer tenable.

He was responding to a speech by the Speaker, House of Representatives, Hon Femi Gbajabiamila, in which he stated that the CBN governor has been carrying on in breach of Section 20 of the CBN Act.

The referenced section, said the Speaker provides that commercial banks should accept old notes even after the deadline.

He said, “After the expiration date, such naira notes changed will no longer be legal tender but it also says that even five months, three months, or two months after, even in June, all the old notes presented to the bank shall be redeemed by the bank.”

In response, Emefiele concurred with the lawmakers on Section 20 of the CBN Act.

In his words, “Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this.”

The apex bank governor who, apologised to the lawmakers for shunning their invitation earlier added, “if you have your money that you have not been able to send to the bank. We will certainly give you the opportunity to bring them back into the CBN to redeem it. Either you pay it to your bank account or you want to do an exchange — we give you. You will not lose your money. This is the assurance I give to Nigerians.”

He explained that the policy should have been introduced several years ago and that the CBN had only used the opportunity to enforce its cashless economy policy.

He maintained that the benefits of the policy would soon be manifest for all to see.

Click to comment

NEWS

Police Secure Release Of Abducted Fouani Brothers

Published

on

The Lagos State Police Command has announced the successful rescue of the three abducted Fouani brothers.

Benjamin Hundeyin, the police spokesperson in the state, confirmed their release in a statement to journalists on Tuesday.

The brothers, identified as Abbas Fouani, Youssef Fouani, and Amtal Fouani, were abducted around 6 p.m. on June 14 while returning from their electronics factory by boat.

Fouani Nigeria Ltd specializes in electronics and serves as the exclusive distributor of LG, Hisense, and Maxi products in Nigeria.

Authorities had been diligently working towards their release, and on Monday night, the victims, along with the boat driver and his assistant, were freed in Orugbo Iddo.

Hundeyin credited the successful operation to the efforts of the Lagos Marine Police, with naval support, ensuring the safe return of the victims to their residence.

He said, “They were rescued late last night in Orugbo Iddo. Our marine police with the support of the Nigerian Navy brought them to shore. Thereafter, our tactical team in the area took them home on Banana Island in the early hours of today. Five of them, three Lebanese, the boat captain and his assistant.”

Continue Reading

NEWS

JUST IN: Tension, Gunfire At Port Harcourt LG Secretariat Amid Youth Protest

Published

on

Gunshots erupted at the Port Harcourt City Council Secretariat on Tuesday when the Police dispersed a group of youths protesting the refusal of former local government council chairmen to vacate office after their terms expired.

The demonstrators, predominantly Ijaw youths, asserted their peaceful intent but claimed the Police opened fire upon encountering them at the scene.

According to a spokesperson, the protest aimed to highlight concerns over officials allegedly overstaying their tenure, despite promises of a peaceful demonstration.

He said, “We are Ijaw youths; we are here on a peaceful demonstration against those whose tenure have expired but said they will not vacate their office. We are not here to make trouble but we were on a peaceful demonstration but the police started shooting at us,”

Speaking further, Allwell Ichemanti, leader of the Port Harcourt City youths participating in the demonstration at the Secretariat, reported that one of the youths had been shot by the Police.

He accused the former Chairman of the Council of orchestrating the police intervention against them.

The sound of gunfire created chaos in the vicinity of the council Secretariat, which is adjacent to both the Rivers State Police Command headquarters and the Rivers State House of Assembly. Residents and passersby fled for safety amid the commotion.

Efforts to reach the State Police Command Public Relations Officer, SP Grace Iringe Koko, were unsuccessful as her phone was switched off.

However, Commissioner of Police Olatunji Disu had previously stated that Police personnel had been deployed across councils to ensure peace and order.

Continue Reading

NEWS

FG Plotting Kano’s Downfall, NNPP Ready To Fight Back – Kwankwaso

Published

on

Senator Rabi’u Musa Kwankwaso, the Presidential Candidate of the New Nigeria Peoples Party (NNPP) for the 2023 elections, has criticized the All Progressive Congress (APC)-led Federal Government for allegedly listening to advice detrimental to Kano State.

He made these remarks in response to the ongoing emirate dispute, where federal security agencies, responsible for maintaining peace and order, are reportedly supporting the deposed Emir of Kano, Alhaji Aminu Ado Bayero.

Addressing attendees at the launch of a rural road construction project spanning 82 kilometers in Madobi, his hometown, Kwankwaso vowed that the people of Kano would oppose any efforts to undermine the state’s legitimate authority.

He said, “We have mass followership because people believe in us, we are pro-people and the NNPP administration is determined to serve them anywhere they vote for it.

“We will not fold our arms and watch enemies of the state destroying the peaceful co-existence of our dear state, as we shall do everything possible to support the governor to succeed. I am happy that he is not distracted and is focused on achieving his goals.

“There are people from Kano, enemies of the state, who also suffer mental illness and are the ones advising the Federal Government on how to take over Kano through a State of Emergency. This is madness of the highest order that the good, peace loving and committed people Kano will resist.

“In the build ups to 2027, some desperate politicians are already on a mission of disruption, but we will rather prefer the two of us to lose than to allow them to crush us unnecessarily. We dare anybody, who thinks he can victimise us politically, to go and be rest assured that we are ready for the fight.

“We are not afraid to be out of power because we will remain politicians in or out of government, we cannot run away from our destiny, we are humans, we know what is good for us and we will pursue it vigorously.”

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.