NEWS
Naira redesign: Buhari counters Finance Minister, says CBN have his backing
By John Danjuma
President Muhammadu Buhari on Sunday said he was convinced that the nation will gain a lot over the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes, hence the Apex Bank had his support
This is coming against the backdrop that the minister of Finance, budget and National planning, Zainab Ahmed had disowned the policy
A statement by Senior Special Assistant to the President Garba Shehu quoted President Buhari to have indicated that the reasons given to him by the CBN convinced him that the economy stood to benefit from reduction in inflation, currency counterfeiting and the excess cash in circulation.
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He said he did not consider the period of three months for the change to the new notes as being short.
”People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all.”
In the interview, the President also addressed issues of food security and national security, among others.
President Bola Ahmed Tinubu has appointed retired Vice Admiral Ibokette Ibas as the military administrator of Rivers State following the suspension of Governor Siminalayi Fubara, his deputy, Ngozi Odu, and all elected members of the state House of Assembly.
The announcement came during a nationwide broadcast on Tuesday amid heightened political tension in the oil-rich South-South state.
Tinubu said the suspension would last for an initial period of six months.
READ ALSO: JUST IN: Tinubu Suspends Fubara, Deputy and Lawmakers
“By this declaration, the Governor of Rivers State, Mr. Siminalayi Fubara, his deputy, Mrs. Ngozi Odu, and all elected members of the House of Assembly of Rivers State are hereby suspended for an initial period of six months,” the President stated.
Ibas, a former Chief of Naval Staff who served from July 2015 to January 2021, will take charge of the state’s affairs.
Tinubu clarified that the judiciary remains unaffected and will continue to function as mandated by the constitution.
“The Administrator will not make any new laws. He will, however, be free to formulate regulations as may be found necessary to do his job, but such regulations will need to be considered and approved by the Federal Executive Council and promulgated by the President for the state,” Tinubu added.
President Bola Ahmed Tinubu has suspended Rivers State Governor Siminalayi Fubara, his deputy, Mrs. Ngozi Odu, and all elected members of the state House of Assembly for an initial period of six months.
Tinubu made the announcement in a nationwide broadcast on Tuesday, citing undisclosed reasons for the decision.
READ ALSO: JUST IN: Rivers Assembly Accuses Fubara, Deputy Of Gross Misconduct
“By this declaration, the Governor of Rivers State, Mr. Siminalayi Fubara, his deputy, Mrs. Ngozi Odu, and all elected members of the House of Assembly of Rivers State are hereby suspended for an initial period of six months,” the President stated.
The suspension comes amid ongoing political tensions in Rivers State.
More updates to follow…
In what political watchers perceive as part of efforts to discomfit and scatter the Peoples Democratic Party (PDP) on the feeling that its National Working Committee (NWC) antagonises him, the Minister of Federal Capital Territory, Nyesom Wike, has revoked the rights to occupy the land on which the party’s national secretariat, Abuja is sited.
Biztelers reports that Wike’s revocation notice was conveyed in a letter released in Abuja on Tuesday, dated March 13, 2025.
The letter was titled, “Notice of right of occupancy with file no: MISC 81346 in respect of plot no: 243 within central area district, Abuja.”
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The letter was signed by the Director, Land Administration (FTC), Chijioke Nwankwoeze.
Wike, it was gathered predicated his action on the PDP’s failure to pay the annual ground rents due on the property for twenty (20) years, from January 1, 2006, to January 1, 2025.
The negligence on the part of the opposition party, the letter claimed was despite many publications in several national dailies and electronic media to pay up every outstanding bill and ground rent on its property.
The letter read, “I have been directed to refer to the above Right of Occupancy granted to PEOPLES DEMOCRATIC PARTY (PDP), NATIONAL SECRETARIAT and inform you that the Minister of Federal Capital Territory has in the exercise of powers conferred on him under the Land Use Act No. 6 of 1978, Cap. L5, Laws of the Federation of Nigeria 2004, revoked your rights, interests and privileges over Plot No. 243 within Central Area, Cadastral Zone A00, Abuja.
“The revocation is in view of your continued contravention of the terms and conditions of grant of the Right of Occupancy by failing to pay the annual ground rents due on the property for twenty (20) years, from Ist of January 2006 to 1st of January 2025. This is despite the many publications made by the FCT Administration since 2023 in several national dailies and on electronic media requesting all allottees of plots in the Federal Capital Territory to pay up every outstanding bill and ground rent on their property.
“You would please note that the said breaches by PEOPLES DEMOCRATIC PARTY (PDP), NATIONAL SECRETARIAT (MISC 81346) run contrary to the provisions of Section 28, Subsection 5 (a) and (b) of the Land Use Act.”
There are palpable fears that the PDP’s national secretariat might be demolished or vandalised, sooner than later because Wike added that the FCTA administration would take immediate possession of the party secretariat until all bills are settled.
Tinubu Appoints Vice Admiral Ibas As Rivers Administrator
JUST IN: Tinubu Suspends Fubara, Deputy and Lawmakers
JUST IN: Wike Renders PDP Homeless In Abuja
Explosion Hits Trans-Niger Oil Pipeline In Rivers
Osun Issues Guidelines For Tractor Operations
