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.

NEWS

ECOWAS: Shettima Calls For Stronger Unity, Engagement With Sahel Alliance

Published

on

Vice President Kashim Shettima has urged the new leadership of the Economic Community of West African States (ECOWAS) Commission to prioritise regional unity, integration and engagement with the Alliance of Sahel States (AES).

He made the call on Friday in New York, United States, while receiving the new ECOWAS Commission President, General Birame Diop (rtd), and his delegation on the sidelines of the 81st Session of the United Nations General Assembly.

Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, disclosed this in a statement issued on Saturday, September 26, 2026.

SEE ALSO: ‘A Nation Cannot Escape the Bill’ — Atiku Questions Tinubu’s Third UNGA Absence

Shettima urged the new ECOWAS leadership to prioritise regional integration and build stronger relationships among countries across West Africa.

“Beyond your administrative duties, your leadership of the commission must make deliberate efforts to build bridges of friendship across the sub-region. ECOWAS should be at the forefront of our engagement with emerging blocs in the area such as Alliance of Sahel States (AES).

“I urge ECOWAS under your leadership to champion the cause of regional integration and strengthen the bonds of unity and friendship among our people,” the Vice President said.

He also urged the commission to take private-sector participation seriously in the execution of the Lagos-Abidjan highway project.

Shettima congratulated Diop on his election, noting that he assumed office at a difficult time requiring greater synergy and cohesion among leaders and people of the sub-region.

The Vice President assured the new ECOWAS president of Nigeria’s continued cooperation and support, saying President Bola Ahmed Tinubu remained committed to efforts aimed at transforming the regional body.

“My boss, President Bola Ahmed Tinubu, is a man of honour and conviction who will always support efforts aimed at advancing the transformation of ECOWAS as a regional body, and the progress of the area in general,” Shettima said.

He added that Nigeria would continue to create an enabling environment for ECOWAS to succeed and contribute to the attainment of the vision and objectives set by its founding fathers.

Earlier, Diop commended Nigeria for its role in the establishment and sustenance of ECOWAS, as well as its sacrifices for the stability and prosperity of the sub-region.

He said the commission was facing challenges, including insecurity and lagging development, which required Nigeria’s intervention as a “big brother.”

The ECOWAS president described the organisation as a tool for regional stability that should be encouraged and supported, while urging other countries in the sub-region to cooperate with Nigeria towards achieving inclusive development and a better future for West Africans.

The meeting was attended by Foreign Affairs Minister Bianca Odumegwu-Ojukwu, Minister of Justice and Attorney General of the Federation Lateef Fagbemi (SAN), Nigeria’s Permanent Representative to the United Nations Jimoh Ibrahim and senior officials of the ECOWAS Commission.

Continue Reading

NEWS

Dangote Hosts Kenya’s President Ruto At Refinery

Published

on

Kenyan President William Ruto on Friday toured the Dangote Petroleum Refinery and Petrochemicals Complex in Lekki, Lagos, where he was hosted by Dangote Group President and Chief Executive Officer, Aliko Dangote.

The visit comes ahead of the planned September 30 groundbreaking of a proposed 700,000-barrel-per-day refinery in Lamu, Kenya, being developed with Dangote.

ALSO READ: Dangote to Support Two Million Women with Refinery IPO Share Ownership

The Dangote Group had earlier confirmed that Dangote would host Ruto during his visit to the Lagos refinery.

The planned Kenyan refinery is expected to expand refining capacity in East Africa and strengthen petroleum supply in the region.

Ruto had earlier said discussions with Dangote and Africa Finance Corporation CEO Samaila Zubairu focused on financing and final preparations for the project.

Dangote is targeting a combined refining capacity of 2.1 million barrels per day through the planned expansion of the Lekki refinery and the proposed Kenyan facility.

Continue Reading

NEWS

‘Obi Knows He Is Lying’ — Soludo Camp Releases Documents on ₦363m Workers’ Arrears Payment

Published

on

The Anambra State Government has released documents showing the payment of ₦363.381 million as the second tranche of salary arrears owed to former staff, pensioners and next-of-kin of workers of the defunct Anambra State Water Corporation (ANSWC) and Anambra State Environmental Protection Agency (ANSEPA).

The development has intensified the ongoing dispute between Governor Charles Soludo’s administration and former Governor Peter Obi over outstanding workers’ entitlements and the financial obligations allegedly inherited by successive administrations in the state.

Presenting the documents as “Part 3: Evidence that lying is in Peter Obi’s DNA,” the Soludo camp accused the former governor of misleading Nigerians over his record on workers’ entitlements.

ALSO READ: I Won’t Seek Governorship Again, Even If Constitution Is Amended -Peter Obi

“Peter Obi knows we know he’s lying,” the statement said, alleging that the arrears were among workers’ entitlements left unpaid during Obi’s eight years as governor.

According to the documents, the ₦363.381 million payment represents the second tranche provided for under an out-of-court settlement reached between the Anambra State Government and representatives of the affected workers on February 6, 2024.

A memo dated May 22, 2025, and signed by the then Head of Service, Dame Theodora Okwy Igwegbe, mni, requested the release of the second tranche, citing Article 7 of the Terms of Settlement.

The memo stated that ₦363.381 million was due for payment in 2025 under the agreement.

A subsequent Ministry of Finance document dated June 24, 2025, confirmed the release of the funds through Capital Expenditure Release Warrant (CERW) No. 67/2025.

The Soludo administration had earlier paid the first tranche under the settlement, with the government saying the payments were aimed at resolving long-standing salary claims involving workers of the two defunct agencies.

Dispute Over When the Arrears Originated
The latest documents have become central to the political disagreement over whether the outstanding entitlements can properly be attributed to Obi’s administration.

The Soludo camp argues that the continued settlement payments demonstrate that unresolved workers’ liabilities remained after Obi left office in 2014.

Obi’s camp, however, has disputed the characterization. His supporters maintain that his administration inherited substantial salary, pension and gratuity arrears from earlier administrations and cleared billions of naira in outstanding obligations during his tenure.

They have also argued that some of the liabilities involving workers of the defunct agencies originated before Obi became governor in 2006.

The settlement documents establish that the Anambra Government entered into an agreement in 2024 to resolve the outstanding claims and that a second payment of ₦363.381 million was subsequently released.

However, the documents themselves do not conclusively establish that all the underlying arrears were incurred during Obi’s tenure.

 

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

0
Would love your thoughts, please comment.x
()
x