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Naira Redesign: Civil Societies Spitfire Against Supreme Court Ruling
The theatricals following the Naira redesign policy of the Central Bank of Nigeria (CBN) has gone into another scene, with the civil societies set to take their turn.
Biztellers had reported that the Supreme Court’s ruling, adjourning the redesign processes pending the determination of a motion by Kaduna, Kogi and Zamfara States was entered on Wednesday.
A seven-member panel of Supreme Court Judges, led by Justice John Okoro, handed down the ruling in Abuja.
In a swift reaction, the apex organisation of all civil society groups in Nigeria, though the Civil Society Central Coordinating Council (CSCCC), on Wednesday protested against the exparte order of the Supreme Court, restraining the CBN, President Muhammadu Buhari, et al, from terminating the legal tender status of the old N200, N500 and N1000 bank notes on Friday February 10, 2023.
The CSOs urged President Buhari to immediately counter the Supreme Court ruling with an Executive Orders to back the planned drawing of the cotton legal tender status of the redesigned naira notes as planned.
The CSOs base their demand on the fact that it is not known to law that the judiciary should bar the President from performing his duties.
National Coordinator, CSCCC, Obed Okwukwe, told a news conference in Abuja on Wednesday that their reaction was to safeguard the sanctity of the general elections planned from later this February.
Backed by over 3000 followers, the CSOs took the protest to the CBNs headquarters, and submitted a letter for Governor, CBN, Godwin Emefiele.
Okwukwe called on the Supreme Court not to yield its platform for such election riggers to have access to illicit cash to compromise the election.
The CSCCC further urged the Supreme Court to immediately vacate the order because it had the potential of aiding corrupt politicians to buy votes during the forthcoming polls.
According to Okwukwe it was “capable of derailing the credibility of the 2023 general election and ultimately truncate our most cherished democracy.”
He added that the Supreme Court must redeem its image immediately and show Nigerians that it is not deliberately against free, fair and credible elections bearing in mind some very controversial orders and judgments of the court in the recent past.
In his words, “Civil society groups in Nigeria are ready to fully support both policies and it is on that strength that I have been empowered to inform Nigerians that the Nigerian Civil Society Community has passed a vote of confidence on the Naira Redesign Policy and the Cash withdrawal limit policy.
“This vote of confidence is also on the condition that the February 10 deadline is not shifted. It is based on the foregoing that we alert the security agencies that the protests planned to be held tomorrow, Thursday February 9, 2023 guised as protests against scarcity of the new Naira are indeed protests planned and organised to cause violence, destruction of public property, disruption of public order and arson.
“Quell the protests in the South West as it is part of the synchronised plot. The target is to reverse the policy where that fails force a shift in the election date or lead to uprising that will cause the administration to come to an abrupt end.
“Opponents of the currency redesign and cash withdrawal limit policies deadline are pushing for a shift of the February 23 general election.
“We have credible intelligence that those behind the campaign for shift in the deadline of the new currency redesign and cash withdrawal limit are now pushing that the 2023 general election be shifted.
“This evil idea will throw Nigeria into a constitutional crisis and lead to the collapse of constitutional democracy. Now these anarchists realising they cannot win the general election are now looking for ways to destroy democracy and undermine President Buhari.
“These men who have benefited from President Buhari now want to destabilise and hurt our dear President and our democracy in their selfish bid of running errands for their new godfather in town.
“They have forgotten that without President Buhari some of them would not have legally or illegally made it to office they now occupy. Now, President Buhari looks small in their eyes and even without Buhari tenure expiring, these ungrateful power elements and betrayal characters are instigating people to destroy President Buhari and our hard-won democracy for the sake of their new master.
“What offence has President Buhari committed by saying he wants a credible election? Were these people not beneficiaries of credible elections in 2015?
“So why crucify our President who is committed to giving Nigeria an enabling environment for free and fair election?”
He maintained that the citizenry would not accept any shift in the 2023 general election date, neither would they subscribe to a shift in the deadline for the currency redesign policy.
He challenged those hoarding cash to “put their billions back to the bank or even let them open the cash warehouses containing those billions in Lagos, Kano, Imo, Zamfara, Kogi and share those billions to poor masses since they are now new lovers of the poor.”
He urged President Buhari and Emefiele to stand up to those resisting the deadline stating that “February 10 deadline date is sacrosanct, irreversible and irrevocable.”
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over alleged monopolistic practices by Dangote Refinery, following a public dispute about fuel pricing in the downstream petroleum sector.
Recall that the refinery, Africa’s largest, recently disclosed its petrol pricing at N990 per litre in trucks and N960 per litre into ships, a move it justifies as being in line with international rates.
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PETROAN, however, sees this as an attempt to suppress competitors and dominate the Nigerian market.
The rift began when Dangote Refinery claimed that complaints from marketers regarding its pricing were fueled by intentions to import cheaper, potentially substandard products.
In response, PETROAN strongly rejected these allegations, suggesting that Dangote’s claims are tactics designed to maintain a monopoly in the sector.
Joseph Obele, PETROAN’s spokesperson, stated that the association remains committed to importing high-quality products at more competitive rates to ensure affordability for Nigerian consumers.
According to PETROAN, competition in the market is essential for achieving fair pricing, and any attempt to stifle it would be detrimental to consumers.
They argue that Dangote Refinery’s pricing should reflect production costs and fair margins rather than international benchmarks, especially given concessions granted by the government for the refinery’s establishment.
PETROAN also announced its plans to partner with foreign refineries and financial backers to import premium-quality petroleum products at prices below current rates.
The association aims to enter the market by December 2024, pending necessary regulatory approvals.
“The allegations that PETROAN will import substandard products are unfounded and aimed at creating an unfair playing field,” the statement read.
PETROAN warned that similar claims in the past had led to significant price hikes when competitors were pushed out, emphasizing that the entry of new players into the market would lead to more competitive pricing and ultimately benefit Nigerian consumers.
PETROAN expressed appreciation for President Bola Tinubu’s commitment to revitalizing Nigeria’s state-owned refineries and urged the government to consider privatizing the Port Harcourt and Warri refineries once rehabilitation is complete.
The association believes a transparent privatization process will help strengthen Nigeria’s downstream sector and counter monopolistic tendencies.
To address the ongoing pricing challenges in the sector, PETROAN called on the government to convene a comprehensive meeting of industry stakeholders, including major associations like IPMAN, DAPPMAN, MEMAN, NUPENG, and PENGASSAN.
PETROAN believes that collaboration among these groups will be instrumental in establishing a sustainable and competitive pricing framework for petroleum products in Nigeria.
Sultan of Sokoto, Sa’ad Mohammad Abubakar II, has called on Nigerians to avoid publicly criticizing their leaders, instead urging citizens to place their trust in God to address leadership concerns as He deems fit.
Speaking at the Regional Conference on Climate Change-Induced Conflicts in Northern Nigeria, organized by the Kaduna State Bureau of Interfaith in collaboration with International Alert, the Sultan emphasized faith and patience in navigating the country’s challenges.
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Acknowledging Nigeria’s current economic and social hardships, the Sultan encouraged continuous prayer, not only for the nation but for its leaders as well.
“Even though many feel times are particularly hard, we believe relief will come. Let’s increase our prayers for our leaders, trusting God to address them in His way,” he said, expressing hope that divine intervention could bring stability and prosperity.
The Sultan reminded political leaders of their ultimate accountability to God, cautioning that they will stand alone on the Day of Resurrection, with only their deeds to support them.
“On that day, every leader will stand alone. Governors, advisers—none will have support except their own deeds. Let us act with a deep sense of responsibility and fear of God,” he stated.
Addressing religious leaders, he warned against misleading their followers for personal gain, underscoring the trust many place in their religious guidance.
“Only God can save any human being,” he said, encouraging Nigerians to remain faithful and discerning in their spiritual beliefs. “Focus on worshiping Allah and leave the rest to Him. Don’t follow those who might lead you astray.”
With leaders from various religious communities, including the President of the Christian Association of Nigeria (CAN), in attendance, the Sultan called for unity, resilience, and communal effort to tackle pressing issues such as climate change, poverty, and insecurity in the northern region.
He praised the North’s history of unity and resilience, warning against divisive narratives that threaten communal harmony. “When we are united, we can face any challenge and build a prosperous community,” he asserted.
The Sultan’s remarks come amid ongoing social and environmental issues in the region, including a recent surge in climate-related challenges that have exacerbated poverty and security threats.
In light of these issues, he called on both Muslims and Christians to intensify their prayers, saying, “Our country faces many challenges, and we must turn to God in prayer. Let us intensify prayers in our mosques and churches.”
In a decisive move, President Bola Tinubu has ordered the immediate release of all minors detained by police during the recent #EndBadGovernance protests.
The directive, announced by Minister of Information and National Orientation, Mohammed Idris on Monday, underscores the government’s commitment to protecting children’s rights and ensuring justice.
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Idris confirmed that President Tinubu’s directive prioritizes the welfare of detained minors, instructing the Ministry of Humanitarian Affairs to facilitate their safe reunification with their families.
A committee led by the Ministry of Humanitarian Affairs will be established to oversee the welfare of the released minors and ensure compliance with the president’s orders.
Additionally, President Tinubu has directed a formal investigation into the actions of law enforcement agencies involved in the arrests.
The president emphasized that any misconduct uncovered during the investigation will result in disciplinary action, affirming his administration’s dedication to accountability within law enforcement.
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