Timothy Chukwudi Lands In Trouble Over WhatsApp Posts

 

Banks Push Out Dirty, Mutilated Notes As New Naira Scarcity Persists

 Bank workers and customers have lamented the quality of the old naira notes reintroduced into circulation by the Central Bank of Nigeria amidst the gradual disappearance of the new notes.

Saturday PUNCH gathered that bank tellers, who pay cash to customers, and workers in bulk rooms, who collect large cash deposits from depositors, were apprehensive that the dirty and mutilated notes could spread diseases.

A teller at a new generation bank in the Ibafo area of Ogun State, who spoke on condition of anonymity, told one of our correspondents that handling dirty notes was a source of concern to her and her colleagues, especially those in the bulk room.

She stated, “The fear of contracting diseases is real. Following the re-circulation of the old notes, the N1,000, N500 and N200 that we are being supplied to pay to customers are mostly dirty and mouldy. Some of the bundles smell bad and we have returned to wearing nose masks to safeguard our health.


“Last week, two of our colleagues in the bulk room started coughing and the situation degenerated to the extent that the branch manager asked them to stay away from work so that they could be treated. The affected workers complained of being exposed to mouldy and smelling notes, which they had to sort out.

“What we now do is covering our mouths and noses with face masks. We also keep hand sanitizers in strategic locations. The condition of the old notes makes many people sick and even customers are complaining, but they can’t reject the dirty notes because of the naira scarcity of the past three months.”

A trader in the Abule-Egba area of Lagos, Alhaji Sarafadeen Akanbi, who withdrew N500,000 from over the counter on Thursday, complained bitterly when the cash was handed over to him.

He said, “I urgently need the cash and that’s why I came here. I exploited my relationship with the bank employees, starting from the branch manager, as a highly valuable customer to withdraw N500,000. Though the bank limited other customers to N20,000, I was given the privilege of withdrawing that much.

“However, I was shocked when I was paid in dirty, smelling and mutilated notes. I complained to the manager and he said I could fill the deposit slip and my account would be credited with the amount if I felt dissatisfied as that was what was available. When I decided to sort out the money, I didn’t get up to N150,000 worth of manageable notes and I had to return the rest as the people I want to pay will not accept them from me.”

Many bank customers were still unable to make withdrawals in many branches in parts of Lagos and Ogun states on Friday as some of the lenders claimed that the cash supplied them had been exhausted.

At the Ibafo branches of UBA, Access Bank and First Bank, long queues of customers were seen at Automated Teller Machine galleries, while those who wanted to get into the banking halls besieged the gates.

Those who succeeded in making withdrawals lamented that the old notes were dirty and could spread diseases.

A security guard at the UBA branch informed the restless crowd that only those who wanted to make deposits and sort out failed transactions would be allowed in as the cash for over-the-counter withdrawals had been exhausted.

When one of our correspondents managed to gain access into the banking hall, a senior official of the bank said only N2m was made available for over-the-counter payment and that the amount was exhausted before noon.


The official said, “I am tired of the situation as we face serious pressure from customers, who are desperate to make withdrawals. When we opened in the morning, we were paying each customer N10,000 over the counter and through the ATMs, but when we realised that the money would soon get exhausted, we limited what each customer could get to N5,000.

“However, many customers are not having that as they claim that the CBN has allowed them to withdraw up to N500,000 weekly. While this is true, we can only pay out what we get.”

Asked if new notes were being mixed with the old notes, the banker said, “Where are the new notes? I haven’t seen the new notes in almost a month. They are not being supplied and the few ones paid out before the Supreme Court ordered the CBN to re-circulate the old notes are not coming back into the banking system.”

The branch manager of a Tier-1 bank on Victoria Island, Lagos, told Saturday PUNCH, “Customers can withdraw any amount up to the N500,000 limit set by the CBN for individuals and N5m for corporate bodies from our branch and many other branches on the island. A lot of customers from the Mainland have been coming here to make withdrawals.

“We have not received new notes for over two weeks. I don’t think the new notes are being printed currently. The availability of the old notes is dependent on how much each bank was able to return to the CBN before the deadline, as each bank is being given a percentage of the deposits.


“The payment of mutilated notes to some customers is meant to discourage those of them who insist on making withdrawals of huge amounts as that is against the spirit of the cashless transaction. Such notes can only be paid over the counter as they can’t be loaded in ATMs because they jam the machines and cause all sort of problems.”

Several calls to the CBN spokesman, Isa Abdulmumin, on Friday were unanswered as his phone rang out. Messages sent to him on WhatsApp also received no response.

However, Saturday PUNCH gathered that the apex bank had exhausted the new notes printed and had not been able to take delivery of more new notes and was only peppering over the cracks with the re-circulation of the old notes.

Saturday PUNCH had reported in February that the CBN might contract the printing of the redesigned N1,000, N500 and N200 notes to foreign contractors as acute scarcity resulted in violent protests occasioned by vandalism of bank facilities.

Sources had said the Nigerian Security Printing and Minting Plc, which is responsible for the printing of the naira, appeared to lack the capacity to meet the demand for the new notes.

To douse the tension created by the scarcity of the notes, the National Council of State had advised the apex bank to print more naira notes or re-circulate the old notes, which it mopped up from circulation, in order to ease the pressure on hapless Nigerians, who had been suffering from the scarcity of the new notes.

‘Embrace digital channels’
Meanwhile, the CBN has urged Nigerians to embrace alternative payment channels such as eNaira, USSD codes and other Internet banking facilities in line with its cashless policy.

The apex bank said the idea became necessary as the country was gradually marching towards the alternative payments policy regime, which is the trend all over the world.

Abdulmumin made the call during the CBN’s Special Day at the ongoing 34th Enugu International Trade Fair in Enugu on Friday, according to a report by the News Agency of Nigeria.


He added that the country could not afford to be left behind in the global financial ecosystem but rather embrace digital payment channels.

Abdulmumin, who was represented by the Assistant Director, Communication Department, CBN, Mr Imoh Esu, said the apex bank had continued to seek creative ways to ensure that Nigeria took full advantage of opportunities and benefits of digital payment channels.

This, he said, led to the launch of the eNaira in October 2021 aimed at broadening the payment possibilities of Nigerians and fostering digital financial inclusion, with potential for fast-tracking inter-governmental and social transfers.

He stated, “Similarly, the CBN in collaboration with the Nigerian Inter-Bank Settlement System, recently launched the National Domestic Card Scheme – the first in Africa.

“This is expected to not only lower operating costs for banks, but reduce the huge foreign exchange costs associated with operating foreign card schemes.”

On the recent redesign of some denominations of the naira, Abdulmumin reiterated that the policy, which was approved by the President, Major General Muhammadu Buhari (retd.), was in the overall interest of the country and the economy, in addition to aligning with the international best practices.

According to him, overall, the policy has started strengthening macroeconomic fundamentals, moderating inflation and up-scaling the financial inclusion rate.

“It has also led to relative stability in the exchange rate and supported the efforts of the security agencies in combating banditry and ransom-taking in the country,” he added.

Earlier in his welcome address, the President, Enugu Chamber of Commerce, Industry, Mines and Agriculture, Mr Jasper Nduagwuike, lauded the various intervention schemes of the CBN in supporting and encouraging the growth of businesses in various sectors of the economy.

Pro-Tinubu Supporters Obtain Permit To Rally In Washington DC

 Nigerians in USA have obtained permit to demonstrate against anti-democratic elements who want to overturn the 2023 presidential election.

In the permit shared, the pro-Tinubu supporters want president Joe Biden to support Nigeria for easy transition to democratically elected president-elect Tinubu.

—Venue: 5537 Ruxton Dr, Lanham, Maryland, 20706.

—Expected participants: 100.

—Date: 04/03/2023

—Time: 12pm ET.

Until Your Car Spoils On The Road, You Will Never Value Agberos- Actress Etinosa

 Nigerian actress, Etinosa Ogbemudia has said that some touts popularly referred to as Agberos are so skilled and useful to the society, IGBERETV reports.

In a post she shared on her Instastories, the mum of one said that until a person's car develops a fault on the road, he or she can never value Agberos as some of them are so skilled and can help at that time. She said the government should rehabilitate them instead of using them as thugs.

Timipre Sylva Resigns As Nigeria’s Junior Petroleum Minister

 Timipre Sylva has resigned as the minister of state for petroleum to seek the ruling All Progressives Congress ticket in the upcoming governorship election in Bayelsa.

Mr Sylva tendered his resignation letter to President Muhammadu Buhari last week, but the details of the resignation were kept private until now, Reuters said on Thursday night.

Mr Sylva was appointed to the ministry in 2019 by Mr Buhari, who has kept the position of petroleum minister to himself.

Mr Sylva, 58, was Bayelsa governor from 2008 to 2012, when he failed to win reelection. He now seeks the APC’s ticket in Bayelsa to govern the oil-rich state for another term of four years. The election will hold on November 11, 2023.

Spokespersons for Mr Sylva and the State House did not immediately return requests seeking comments about the development late Thursday.

Armed Robbers Sentenced To 7 Years Imprisonment For Robbing Patience Jonathan

 A High Court sitting in Port Harcourt, Rivers State, has sentenced one Praise Gelson and Usman Garba to seven years imprisonment for breaking into the home of the wife of former President Goodluck Jonathan, Patience, to steal valuables worth millions of naira, IGBERETV reports.

Another defendant, Tamunoala Alatoru was convicted and sentenced to six months imprisonment for negligence to her duties.

In November 2022, the defendants were arraigned before the court on three counts of conspiracy, armed robbery and attempted murder of the former President’s wife. 

The trial judge, Justice Ebebeli, in his judgment, found Gelson and Garba, who were the first and third defendants, guilty of armed robbery and attempted murder, noting that the prosecution counsel proved his case beyond a reasonable doubt. Ebebeli also stated that the prosecution proved his case against Alatoru who was the second defendant, especially on negligence in her duties and therefore should be sentenced to six months imprisonment.

Mercy Chinwo Slams ₦2bn Lawsuit On Obidiz For Using Her Name In A Secular Music

 Gospel artist, Mercy Chinwo, has filed a suit against hip-hop artist Obidiz for defamation of character and unauthorized use of name and image.

Mercy Chinwo filed a case against Obidiz following his latest single release titled Mercy Chinwo.

The artist in the song cited an example of a wayward, club girl, and mentioned Mercy Chinwo in the phrase.

“She dey share me the cake, but she no want commit. Mercy Chinwo for church, but for club na Cardi B sef.”

The suit by the gospel artist said Obidiz made “Derogatory and defamatory use of the name and image of Mercy Chinwo in secular music audio and video” and issued a “Notice to cease and desist.”

According to the document, Obidiz is to desist from further use of Mercy Chinwo’s name and image.

He is also to take down the song, and promotional videos and make a public apology. Failure to comply with these demands may attract a fine of N2,000,000,000.