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CBN Governor Finally Appears Before Reps Over New Naira
Nigeria’s Central Bank Governor, Godwin Emefiele, has appeared before the House of Representatives after being summoned to address the issue with the recent naira note redesign and exchange.
Emefiele is meeting with the ad hoc committee established by the House, led by Majority Leader Alhassan Ado-Doguwa, to investigate the crisis.
Speaker of the House, Femi Gbajabiamila, had threatened to arrest Emefiele for failing to attend 4 previous summons. The House postponed its break for the presidential and National Assembly elections, set to start Thursday, due to Emefiele’s failure to appear before the committee.
Speaker Gbajabiamila threatened to instruct the Inspector-General of Police, Usman Baba, to arrest Emefiele and bring him before the panel. Gbajabiamila maintained that Emefiele’s missed deadline violated Section 20(3) of the CBN Act.
The Speaker partly said, “I have no choice now. On Tuesday when we resume, we will invoke the provisions of Section 89 of the Constitution .The President has been very clear. The President gave the approval based on what he knows and what he has been told.
“We also know the President to be a man of the people. He gave his approval based on what he had been told. But we are saying – what the motion is saying – is that after the President gave his approval, how does the money get to the people? The money is not getting to the people. That is what we sought to clarify and that is exactly what we are going to do.
“So, on Tuesday, this House will follow its procedure – the normal procedure – and invoke the provisions of Section 89 to compel the governor of the CBN and the directors.”
Deputy Speaker Ahmed Wase called on the House to allow its leadership to meet with President Buhari and discuss the controversial implementation of the policy. Speaker Gbajabiamila agreed to this request.
Despite the CBN extending the deadline for exchanging old N1,000, N500, and N200 notes by 10 days to Feb 10 and giving commercial banks an additional 7 days to accept the notes, the House still insisted on Emefiele’s appearance.
In a statement, Ado-Doguwa, titled “Old Naira Notes: House Committee Rejects CBN Extension, Says Position of Law sacrosanct, Must be Respected,” insisted that the Central Bank must abide by Sections 20(3), (4), and (5) of the CBN Act.
“Nigeria, as a developing economy and a nascent democracy, must respect the principles of the rule of law. And the House would go ahead to sign the arrest warrant to compel the CBN governor to appear before the ad hoc committee,” the Majority Leader stated.
Despite previously failing to answer summons 4 times in 2 months, Emefiele led the CBN leadership to appear before the lawmakers on Tuesday.
The Transmission Company of Nigeria (TCN) has announced the successful relocation of eight 132kV and 33kV transmission towers along the Kukwaba/Apo 132kV transmission line, bringing relief to residents of the Federal Capital Territory (FCT).
This development, completed three days past the scheduled deadline, has also restored full bulk power to the 132/33kV Apo Transmission Substation, enabling the resumption of normal power distribution in the area.
In a statement signed by Ndidi Mbah, TCN’s General Manager of Public Affairs, the company explained that the relocation became necessary due to the Federal Capital Development Authority’s (FCDA) road dualization project along the Southern Expressway.
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The relocation work began on January 6, 2025, and involved dismantling and reconstructing the affected towers, as well as restringing power cables to ensure uninterrupted power flow.
To facilitate this, a planned power outage was implemented from January 6 to January 20, 2025, between 9 a.m. and 4 p.m. daily.
“The Transmission Company of Nigeria is pleased to announce the restoration of full bulk power to its 132/33kV Apo Transmission Substation, effective Thursday, January 23, 2025,” the statement read.
“This restoration follows the successful relocation of eight 132kV and 33kV towers along the Kukwaba/Apo 132kV line (Southern Expressway route), necessitated by the Federal Capital Development Agency’s road dualization project along the Apo axis.”
TCN thanked residents and electricity consumers for their patience during the period of power rationing, noting that Abuja Electricity Distribution Company (AEDC) can now resume normal electricity supply to customers in the affected areas.
Renowned Nollywood actor, Ibrahim Chatta, has sparked conversation by claiming that award-winning singer Davido is richer and more influential than his billionaire father, Dr. Adedeji Adeleke.
Chatta made this statement while addressing the importance of respecting individuals in positions of authority, regardless of their age. He argued that accomplishments, not age, determine who an elder is. Using historical references, Chatta cited Alexander the Great, who achieved incredible feats before his death at 33, as an example of youthful greatness.
“God purposely placed some certain people in some positions, but you guys are looking at their age. It’s not about the age; any younger person that possesses things that belong to elders, is an elder,” Chatta said.
The actor emphasized that Davido’s wealth and influence surpass those of his father, despite Dr. Adeleke’s established status as a billionaire. Chatta highlighted the global recognition and adoration Davido commands, describing the singer as someone who garners immense loyalty and admiration.
“I was just looking at the numbers of people surrounding Davido the day I sat with him, I was just seeing how people were ready to be killed just to get to him. He is an elder. Davido’s father is a billionaire that has been doing big things before the singer’s arrival. His father is rich but not as Davido. If his dad is passing by, you might not recognise him, but if Davido passes here, a stampede will happen.”
Chatta’s remarks have stirred reactions across social media, with many debating whether fame and influence should outweigh wealth in defining success.
Veteran Nollywood actress, Rita Edochie, has expressed her admiration for Donald Trump, claiming that the entire world wishes for a leader like him.
The actress made this statement while celebrating Trump’s inauguration as the 47th President of the United States on January 20, 2025.
In a lengthy Instagram post, Edochie shared her unwavering support for Trump, despite facing criticism for her stance. She revealed that she is often referred to as “Mama Trump” by detractors but remains unfazed by their remarks.
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“January 20, 2025, marks a historic milestone as Trump takes oath of office as the 47th President of the United States. As you begin your new term, I wish you immense wisdom to tackle the challenges facing our nation,” Edochie wrote.
Describing Trump as an angel, she added, “After all, the entire universe wishes they had an Angel like Donald Trump to be their president.”
The actress also expressed her desire to see a leader in Nigeria who embodies Trump’s qualities, stating, “I do wish a man in the likeness of Trump be sworn into the Nigerian Executive Offices one day.”
Edochie’s comments have sparked discussions online, with many applauding her loyalty while others remain critical of her views.
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