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[BREAKING] PMB Extends Legality Old N200 Notes to April 10

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President Muhammadu Buhari has approved that the old N200 notes can circulate side-by-side the new notes until April 10, 2023.

The presidential directive was given in a nationwide broadcast from Abuja on Thursday.

According to President Buhari, the extension was necessitated by the need to cushion the hardship experienced by citizens following the implementation of the new monetary policy of the Central Bank of Nigeria (CBN).

He added that his action followed wide consultations with relevant stakeholders.

In his words, ”I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law I have also noted that the subject matter is before the court of our land and some pronouncements had been made.

”To further ease the supply pressure particularly to our citizens, I have given approval to the CBN that the old N200 bank note be released back into circulation and that should also be allowed to circulate as a legal tender with the new N200, N500 and N1,000 bank notes for 60 days from Feb. 10, 2023 to April 10, 2023 when the old N200 ceases to be legal tender.

”In line with section 20 sub-section 3 of the CBN Act 2007, all the existing old N1,000 and N500 notes remain redeemable at CBN and designated points.”

President Buhari recounted the benefits of the ongoing financial reforms embarked upon by the apex bank, challenged the citizens to make their deposits of the old notes by taking advantage of the platforms and windows being provided by the CBN.

He revealed that he had since directed the CBN to deploy all legitimate resources and legal means to ensure that citizens are adequately educated on the new policy, enjoy easy access to cash withdrawal through availability of appropriate amount of currency and ability to make deposits.

In the broadcast, President Buahri also directed the CBN to intensify collaboration with anti-corruption agencies in checking the activities of those who were bent on sabotaging the smooth implementation of the new Naira redesign policy.

He reassured that government would continue to assess the implementation of the policy with a view to ensuring that Nigerians are not unnecessarily burdened while urging the CBN to ensure the availability of the new Naira notes across the country.

While calling for more understanding from the citizens, Presdietn Buhari, reiterated the commitment of his administration to handover a financially stable economy to the incoming administration on May 29, 2023.

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Nigeria To Stop Fuel Imports By June – Dangote

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Alike Dangote, Africa’s wealthiest individual and Chairman of the Dangote Group, has disclosed that Nigeria will cease gasoline imports next month due to the strategic initiatives of the Dangote Refinery.

Speaking at the Africa CEO Forum Annual Summit in Kigali, Dangote expressed optimism about revolutionizing Africa’s energy landscape.

Dangote emphasized the refinery’s capability to meet not only Nigeria’s gasoline demands but also those of West Africa for petrol and diesel, along with the continent’s aviation fuel requirements.

He said, “Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre.”

Additionally, Dangote outlined the progress made by the oil company to ensure that Africa achieves self-sufficiency in the energy sector.

He said, “We have enough gasoline to give to at least the entire West Africa, diesel to give to West Africa and Central Africa. We have enough aviation fuel to give to the entire continent and also export some to Brazil and Mexico.

“Today, our polypropylene and our polyethene will meet the entire demand of Africa and we are doing base oil, which is like engine oil, we are doing linear benzyl, which is raw material to produce detergent. We have 1.4 billion people in the population, nobody is producing that in Africa.

“So, all the raw materials for our detergents are imported. We are producing that raw material to make Africa self-sufficient. As I said, give us three or a maximum of four years and Africa will not, I repeat, not import any more fertilizer from anywhere.

“We will make Africa self-sufficient in potash, phosphate, and urea, we are at three million tonnes and in the next twenty months, we will be at six million tonnes of urea which is the entire capacity of Egypt. We are getting there.”

Dangote further elaborated on the achievements of the company since the commissioning of the refinery in February.

“For some of us, despite the boom of the capital market of the US, you know, Google, Microsoft and the rest, we didn’t participate, we took all our money and invested in Africa.

“We had this dream, just about five years ago and we said we want to move from five billion (dollars) revenue to thirty billion revenue and we made it happen. It is possible and now we have made it happen and now we have finished our refinery.

“Our refinery is quite big, it is something that we believe that Africa needs. If you look at the whole continent, there are only two countries that don’t import petroleum products which is a tragedy. They are only Algeria and Libya. The rest are all importers.

“So, we need to change and make sure that we don’t just go and produce raw materials, we should also produce finished products and create jobs.

“One of the things we also need to know as Africans is that we produce raw materials and export them when you export raw materials and somebody now keeps importing things into your continent and dumping goods. what you are importing is poverty and exporting jobs. So, we have to change that narrative.

“We just commissioned in February and now we are producing jet fuel, we are producing diesel and by next month, we will be producing gasoline.

“What that would do is that we would be taking most of the African crude that is being produced and also be able to supply not only Nigeria, because our capacity is too big for Nigeria, but it would also supply West Africa, Central Africa and also South Africa.

“We have 650,000 barrels per day, 1 million tonnes of polypropylene, we have 590,000 carbon black, that is the raw materials ink, dyes and co. We are expanding more. This is the first phase and we are going out to the next phase which will start early next year,” he said.

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Ulama, Lawyers Slam Minister Over Niger Mass Wedding Opposition

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The Ulama Forum in Nigeria, representing Islamic clerics, and the Muslim Lawyers Association of Nigeria (MULAN) have voiced their disapproval of Minister of Women Affairs, Uju Kennedy-Ohanenye’s decision to challenge a proposed mass wedding for orphaned girls in Niger State through legal means.

Both groups have thrown their support behind Abdulmalik Sarkin-Daji, the Speaker of the Niger State House of Assembly, who initiated the idea of conducting a mass wedding for girls who lost their parents to bandit attacks in the state.

In a statement issued jointly from Kano and signed by the forum’s Convener, Aminu Inuwa Muhammad, and Secretary, Engineer Bashir Adamu Aliyu, the Ulama Forum affirmed its backing of the planned weddings for victims of banditry and kidnapping in Niger State.

The forum criticized the minister for what they perceive as her attempt to garner media attention with what they described as “her Islamophobic rhetoric,” alleging that her actions demonstrate a lack of respect for Sharia law.

The forum characterized the minister’s actions as selective, amateurish, and tribalistic, asserting that the 1999 Constitution upholds religious freedom and acknowledges Sharia provisions allowing the marriage of the prospective brides.

Furthermore, they highlighted that, as a lawyer, the minister should be aware that the Child Rights Act does not extend beyond the Federal Capital Territory (FCT).

The forum cautioned the administration of President Bola Tinubu to be cautious of “such public officers and institutions that will set it against the people.”

Likewise, MULAN has declared its intent to confront the minister in a rigorous legal confrontation regarding her efforts to halt the mass wedding of 100 orphans.

In a statement endorsed by its President, Barrister Saeed Muhammad Tudun-Wada, MULAN asserted that the proposed wedding adhered to the principles and regulations of both Islamic and Nigerian laws, while criticizing the minister for her alleged lack of understanding.

“We understand that the proposed mass wedding scheduled for May 24, 2024, has been subjected to a needless controversy arising from the recent intrusion of the minister,” MULAN said.

“Incidentally, we understand that Mrs Ohanenye has instituted legal action to stop the noble course and further petitioned the Inspector General of Police, IGP Kayode Egbetokum, against the move of Niger State Speaker Rt. Hon. Abdulmalik Sarkin-Daji to sponsor the marriage of 100 girls.

“In the light of this, the Muslim lawyers have resolved to meet the minister at the court of competent jurisdiction. Already, we have assembled not less than five Senior Advocates of Nigeria (SAN) and 27 other members of the association to join in challenging the minister.

“MULAN regretted that the minister had decided to venture into a matter she lacked the right and competence to delve into. By so doing, she has overstretched her limit by interfering with the private and personal interests of the Niger girls. We are prepared to join issues with her.

“For the purpose of emphasis, the constitution of the Federal Republic of Nigeria is generous enough to allow every Nigerian to conduct marriage with whomever he or she so wishes, so long such an act did not violate any provision of the constitution.

“MULAN is fully behind the proposed mass wedding and the genuine interest of the Speaker to ease the burden of the marriage is well in line with Islamic principles.”

The Minister of Women Affairs on Friday, addressed her legal action against Speaker Sarkindaji, citing his proposal to marry off 100 orphans from his constituency.

During an appearance on Channels TV’s Politics Today, the minister emphasized her adherence to the constitution in her duties, stating: “When I’m doing my work, I focus on the constitution. What I stood for was the fundamental human rights of the children. I want an investigation carried out. Religion is not part of the work I am doing.”

She also mentioned collaborating with the Speaker and other stakeholders to empower the girls instead of arranging marriages for them.

She said “When I met with the speaker recently, he said to me that he never thought about it in the manner I was thinking about it, that he thought he was helping.

“But now that I have brought this up, we have partnered together to look into how we empower these children, take them to school, open businesses for them and make their lives better. He said he will partner with me.”

 

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Tinubu Appoints 555 To Education Councils, ASUU Strike Resolved

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President Bola Ahmed Tinubu has announced the appointment of 555 individuals to serve as chairpersons and members of the governing councils for tertiary institutions across Nigeria.

This significant move aims to enhance the governance and oversight of the country’s higher education sector.

The inauguration and orientation retreat for the newly appointed council members is scheduled for Thursday, May 30, and Friday, May 31, 2024.

In a related development, the government has successfully resolved the potential strike threat from the Academic Staff Union of Universities (ASUU).

 

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