Court Stops Buhari, CBN, Others From Suspending Currency Swap Policy

 A High Court of the Federal Capital Territory (FCT), on Monday, restrained President Muhammadu Buhari, Central Bank of Nigeria (CBN), the Governor of CBN and 27 commercial banks from suspending, stopping, extending or interfering with the currency swap terminal date of February 10 or issue any directive contrary to the said deadline.

In a Motion by five political parties, namely Action Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM) and National Rescue Movement (NRM), the Court presided over by Justice Enenche also granted an order directing the CEOs of the 27 commercial banks and their alter egos to show cause why they should not be arrested and prosecuted for the economic and financial sabotage of the country by their illegal hoarding, withholding, not paying or disbursing the new N200, N500 and N1000 banknotes despite supply of such notes by the CBN.

LEADERSHIP reports that this order of the Court has rendered futile all behind-the-scene efforts especially by Governors of some States to force the hand of the President to reverse the Naira swap policy or at least extend its deadline.

Governors alleged to be behind the moves to stop this policy include the Governors of Kaduna, Kogi, Zamfara, Ondo, Rivers, Imo, Benue and Kano States.

The order also ties the hands of bank CEOs and their staff who have been alleged to be hoarding the new banknotes and trading with them, thereby causing untold hardship to ordinary citizens.

Following the order, a cross-section of lawyers, Civil Society Organization and ethnic youth groups, have hailed the latest court order, saying it was best for the country and would afford the stakeholders opportunity to now concentrate on how to ameliorate the hardship occasioned by the policy.

Groups such as Arewa Consultative Youth Movement, Ohanaeze Youth Movement, and Oduduwa Youth Assembly have hailed the FCT High Court order.

Arewa Youths said that looters of the commonwealth of the people have lost out while Ohanaeze Youths insisted that vote buyers and election riggers have been relegated just as Oduduwa Youth held the view that kickbacks will be very difficult now, corruption greatly limited and chance for money laundering made slimmer.

Furthermore, a continental civil society organization, the African Centre for Justice and Human Rights (ACJHR), said the order of the court was the first step in sanitising the country’s financial market and help in conducting very credible polls as politicians will find it extremely difficult if not impossible to have access to cash to compromise the 2023 elections.

In the 27 grounds by the applicants, they made out a case showing that politicians who ostensibly are in possession of illicit funds were the ones who want the policies suspended.

Tinubu Donates N100 Million To The Victims Of Banditry In Katsina State

 The Presidential Candidate of APC, Asiwaju Bola Ahmed Tinubu, has announced a donation of N100 million to the victims of banditry in Katsina State.

He has also condoled the state for the loss of gallant vigilantes at Yargoje Forest in Kankara local government.

Many vigilantes, in a convoy, were killed in the forest as they went to recover stolen cows.

Tinubu made the donation during his engagement with religious leaders in Katsina State on Sunday night at Katsina State Government House.

Naira Notes Scarcity: Lagos Police Command Warn Mischief Makers

 The Lagos State Police Command has uncovered plans by some groups of persons to take advantage of the new Naira notes scarcity to unleash violence in some parts of the State. 

The Command hereby warns these groups to shelve their planned violence or have the full weight of the law to contend with. 

Lagos State residents and visitors are enjoined not to panic as the Police, in conjunction with other security agencies, embark on confidence-building patrols across the Lagos metropolis.

In the meantime, all law-abiding Lagosians are encouraged to go about their lawful duties without any fear of harassment or intimidation as the Command has ensured optimal deployment of human and operational resources towards guaranteeing their safety and security.

SP BENJAMIN HUNDEYIN, anipr, mipra 
POLICE PUBLIC RELATIONS OFFICER 
LAGOS STATE COMMAND
IKEJA

FEBRUARY 06, 2023.

Earthquake In Turkey: Christian Atsu Found Alive

 According to @RadioReporte, Hatayspor & former Black Stars forward, Christian Atsu has been found by the search team. 

The state of his health isn’t immediately known but the hope is he experiences full recovery. 

Naira Redesign Causes Hardship For Troops Fighting Boko Haram — Ndume Laments

 Senator representing Borno South and Chairman of Senate Committee on Army, Mohammed Ali Ndume has added his voice to negative reactions trailing the redesign and poor issuance of the new naira notes with its attendant scarcity, lamenting that the policy made by Central Bank of Nigeria, CBN has caused more economic harm on military troops fighting Boko Haram/ISWAP and other terrorist activities in the country.

He said, the new policy has forced many frontline troops, especially those fighting Boko Haram/ ISWAP to a perpetual hunger, as they could not get the new currency to buy food items within some areas of engagement.

Ndume stated this on Saturday while interacting with Journalists at his Maiduguri, residence.

He said, the hardship posed on Nigerians by this CBN policy, have nearly caused the life of a soldier when some mobs attempted to kill him during a fracas at one of the ATM queues.

The Senator pointed out that, apart from subjecting troops to hunger, the shortage of the new naira notes have caused logistical problems for military operations in moving their fighting equipment.

He noted that, although, he was not against the CBN policy of redesigning a new currency, but such money should be made available to the general public irrespective of political or social background in line with international best practices.

“I want to category join other concerned Nigerians for voicing out their anger on the current shortages of the newly redesigned naira notes which has crippled economic activities all over the country.

“I want to tell Federal Government, and particularly the CBN that the situation on the ground is not only affecting the masses, but most importantly is affecting the military operations and other security agencies who are fighting against terrorism and other criminal activities in the country.

“This is because, what i discovered during my recent visit to my constituency, is that, many soldiers who were deployed to various remote areas, are finding it very difficult to survive, as they don’t have money to buy food and other non-food items.

“If as a senator, I am yet to get access to the new currency, what of troops who are on the frontline defending our nation from terrorists? I am aware that even some troops who have secured a PASS do come to nearby commercial banks to withdraw, but most of them end up disappointed as the new naira notes remained inaccessible on the counter or from the Automated Teller Machines, and ATMs.

“It is very unfortunate that the hardship posed on Nigerians by this CBN policy has nearly caused the life of a soldier when some mobs attempted to kill him during a fracas at one of the ATM queues.” Ndume lamented.

He, therefore, call on the federal government and the CBN to expedite action to ensure that the new currency is made available to the people with immediate effect, so as to avoid similar protests witnessed during the EndSARS. 

Vanguard report that the CBN had while implementing the policy, printed only N300 billion, while it has recovered about N2.7 trillion old notes in circulation.

Gbajabiamila Unhappy With Cashless Policy Because Of Tinubu Bullion Van - Atiku

 House Of Reps Speaker, Gbajabiamila Unhappy With Cashless Policy Because Tinubu Can’t Deploy Bullion Vans On Election Day –Atiku

The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has alleged that some bank executives are conniving with the ruling All Progressives Congress (APC) to frustrate the distribution of the new naira notes in a bid to frustrate the policy.

Special Assistant on Public Communication to Atiku Abubakar, Mr. Phrank Shaibu, said this in a statement sent to SaharaReporters on Monday in reaction to a statement made by the Speaker of the House of Representatives, Femi Gbajabiamila.

He said the viral videos showing government agencies busting banks hoarding the new naira notes were clear evidence of sabotage.

The statement read, “Intelligence reaching us is that the APC is in collusion with some top bank executives to frustrate the policy of the CBN. As shown in several trending videos posted by government agencies on social media, hundreds of millions of naira are in bank vaults but the banks are deliberately refusing to distribute them.

“It is no secret that all the commercial banks are headquartered in Lagos where Bola Tinubu holds sway as godfather.

“The ultimate goal is to frustrate the policy so that the APC will be able to bring out the old notes it has stashed for the sole purpose of vote buying and distribution with bullion vans. For this reason, we commend the EFCC (Economic and Financial Crimes Commission) and the ICPC (Independent Corrupt Practices and Other Related Offences Commission) for exposing these unscrupulous bankers.”

Atiku further lambasted Gbajabiamila for allegedly using his position as the 4th most senior elected official in the country to play cheap politics.

He advised Gbajabiamila to play decent politics like the Senate President, Ahmad Lawan and Vice-President Yemi Osinbajo.

The statement added, “It is the height of idiocy for the nation’s number four citizen to play cheap politics with a monetary policy introduced by his own party which is in power. Gbajabiamila wishes to become the chief of staff to Tinubu in the event that Tinubu wins so his overzealousness is quite understandable.

“However, his attempt to bring Atiku into this issue shows how mischievous he is. Gbajabiamila summoned the CBN Governor, Godwin Emefiele, last week where they reached an understanding and issued a resolution which the House and the CBN agreed to.

“But because he is already seeing the imminent defeat of his master at the polls, he is now playing dirty politics.

“Nigerians must note that this is a policy being implemented by an APC government. However, the likes of Gbajabaimila are too timid to approach President Buhari to reverse this policy. His aversion for this CBN policy has nothing to do with the masses. It is about the inability of his master to deploy bullion vans on election day.”

Shaibu in the statement described Gbajabiamila as a hypocrite who pretends to be on the side of the masses during crisis but is actually working for his own selfish reasons.

He recalled that during the eight-month strike embarked on by the Academic Staff Union of Universities (ASUU), the House of Representatives Speaker pretended to be on the side of the lecturers only for him to abandon them at sea.

“Gbajabiamila promised the lecturers that they would be paid their arrears. After the lecturers called off their strike, he denied making the statement in the first place. Such a liar should not be believed by the masses.

“When dirty petrol was imported last February, Gbajabiamila set up a committee to investigate it. Till date he has done nothing about it. The fuel scarcity has continued to linger for over eight months but he remains mute.

“This is the same man who scuttled the ongoing probe of the Niger Delta Development Commission (NDDC) at the House of Representatives for selfish reasons.”

Shaibu said with defeat staring the APC in the face, the ultimate aim of Gbajabiamila and his ilk is to ensure that the election is postponed.

“This coming week the APC will sponsor protests and riots in strategic parts of the country all in a bid to force the hand of the President to reverse this policy. The EFCC and the ICPC must continue to raid banks and arrest bank workers for hoarding the new notes. The notes must be made available to honest Nigerians.

“However, huge volumes of the new notes must not get into the hands of unscrupulous politicians who plan on using bullion vans to distribute money on election day. The desperate APC must not be allowed to steal this election,” 

Christian Atsu Trapped Under Rubble After Earthquake In Turkey

 Former Premier League footballer Christian Atsu is amongst those trapped under rubble in Turkey after a huge earthquake, according to reports.

A search and rescue operation is underway after Atsu, who formerly played for Chelsea and Newcastle United, was caught up in the 7.7 magnitude earthquake. The 65-cap Ghana international joined Super Lig club Hataysport last summer.

Several members of his new team had to be rescued after the earthquake and Atsu is now reported to be amongst those still missing as a search and rescue operation gets underway. The club's sporting director, Taner Savut, is also trapped as efforts to free them continue.