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Emefiele dragged to court again over new currency *He must be stopped – don

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A new twist has been opened in the move to stop the Central Bank of Nigeria (CBN) from keeping to the January 21 deadline for the use of some of the current currencies used in Nigeria, outside Thursday’s threat by the House of Representatives to arrest Godwin Emefiele, the Governor of the apex bank.

In a fresh development, Joshua Alobo, a professor of Law, is asking the Federal High Court in Abuja to among others, restrain the Central Bank of Nigeria (CBN) and its Governor, Godwin Emefiele from implementing its January 31 deadline for the old 200, 500 and 1000 naira notes, just a few days to the D-day.

In a suit marked: FHC/ABJ/CS/114/2023, which also joined the Attorney General of the Federation (AGF), Abubakar Malami, as a defendant, Alobo wants the court to issue a mandatory order, compelling the CBN to extend the “duration where the old notes cease to become legal tender to period of three weeks when the redesign notes will be sufficiently dispense by the commercial banks.”

In a supporting affidavit, he claimed that the CBN Governor had on October 26, 2022, announced that the apex bank would introduce new series of redesigned N200, N500 and N1000 banknotes into the financial system, adding that although CBN’s decision was meant to reduce inflation and entrench a cashless society so as to curb money laundering and corruption, majority of Nigerians, especially the less privileged one, are yet to access to the new naira notes that were unveiled on November 23, 2022 by President Muhammadu Buhari.

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Alobo, who accused commercial banks of failing to make the new naira notes available to their customers, stated that as of January 25, he was still handed the old notes on the counter and through the Automatic Teller Machine (ATM), adding that already, major shopping malls within the Federal Capital Territory, Abuja, have announced the rejection of old notes, with the ATM limiting daily withdrawal to N20, 000.00

Alobo who contended that the terminal date of January 31 for usage of the old notes is discriminatory against the rural dwellers, poor and less privileged persons in the society, as politically exposed persons are paid with the redesigned notes, added: “That cashless policy of the Central Bank of Nigeria is innovative and welcome development but the rural dwellers that constitute bulk of the population do not have access to intemet and banking facilities.

“The legal tussle for the arrest of the Governor of the Central Bank of Nigeria by the Department of State Security, DSS, at the Federal High Court resulted in uncertainty as to the full implementation of the redesigned Naira notes.

“The legal action at the FCT, High Court for the enforcement of the fundamental rights of the Governor of CBN also necessitated anxiety in the country on the implementation of the policy. The Governor of CBN arrived Nigeria on January 13, 2023 and visited the President at the Aso Rock. The reception was well publicized in both electronic and print media. The current daily limit of transaction to N20, 000 is against the Central Bank daily limit of N100, 000.”

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Tough economy: Trouble in APC, as staff plan strike

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A loud grumbling has enveloped the 40 Blantyre Crescent, Wuse, Zone 2, Abuja, headquarters of the All Progressives Congress (APC), where staff across different departments are threatening to down tools in protest of poor welfare and biting economic hardship.

Daily Trust, is reporting that the staff are specifically asking the party’s top echelon to make provision for their housing and other allowances, stressing that the economic situation of the country had become quite unfavourable to them.

The paper quoted one of the staff, who spoke on condition of anonymity, as saying that the party’s executive members had left them to suffer, while taking home humongous amounts of money as salaries and allowances.

Though Abdullahi Umar Ganduje, National Chairman of the party, is said to have commenced payment of N35,000 provisional wage award to them in January 2024, they argued that the largesse would in June, and they would be back to square one and therefore, they needed more stable welfare packages.

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In a swift riposte, Felix Morka, spokesman of the party, was quoted as dismissing the agitation, saying: “Those matters I don’t really discuss them. As you can see, there are many important things to discuss; at the national level, in Edo State. We are battling with all that. So, any in-house matters are not my focus right now.”

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BREAKING: Davido ups the ante, doles out N300million to orphanages

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David Adeleke Nigerian music sensation, otherwise known as Davido is stamping his giant feet with which he has mesmerised his audience across the world in the arena of philanthropy, with an announcement of a fresh donation of a whopping N300million to some orphanages across the country.

The latest is an increase of N63million up from the N237million the popular singer, who disclosed the largesse in a statement on his social media accounts on Tuesday, dolled out last year as part of the gesture in what is now turning out a yearly programme since it started a few years ago.

The gesture is coming at a time Nigeria is under an intense weather of deprivation and poverty, with the prices of food and other commodities hitting the roof and citizens, unable to afford basic items mostly going to bed on empty stomachs as a result.

In recent weeks, demonstrations had erupted in many parts of the country, including Niger, Kano, Ogun and Oyo States, where residents trooped into the streets to demand an end to the parlous situation, which they blamed on the insensitive policies of the government of Bola Tinubu, the Nigerian President.

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The singer, who first gave out N250m to 292 orphanages in October 2022, said the this year’s donation would be done through The David Adeleke Foundation (DAF), adding: “I and my foundation pledge the sum of 300 million Naira to orphanages around Nigeria … as my yearly contribution to the nation. Details of disbursement tomorrow.”

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BREAKING: Tinubu set to probe Buhari’s N23trillion Ways and Means debt

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At last, President Bola Tinubu, may be going through the N23trillion Ways and Means debt obtained by his predecessor, Muhammadu Buhari, with a fine comb to determine what the funds, which is attributed to a major part of the current debt overhang in the country, went into.

The Nation, quoted Wale Edun, Minister of Finance and Coordinating Minister for the Economy as revealing this much to participants at the ongoing Public Wealth Management Conference organised by the Ministry of Finance Incorporated (MoFI).

Besides, the Minister reportedly said the Federal Government would also present a bill to the National Assembly, soon to authorise the removal of “all taxes and levies that constitute nuisance from the country’s tax system, as a measure to wean itself from future Ways and Means indebtedness.

The government, Edun added, will vigorously pursue policies that will allow it harvest revenue in real time from Government Owned Enterprises (GOEs) and Corporate entities.

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It was also on the same day that the Minister explained that Tinubu’s administration inherited a surge in food and general commodity prices from the previous government, but emphasised the government’s commitment to reducing food prices and tackling the nation’s high inflation rate.

Outlining the measures government was taking in tackling the situation, he revealed that, the government had released 42,000 metric tons of grains, with an additional 60,000 metric tons scheduled for release soon.

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