Nation
Scarce New Naira Notes After CBN Deadline Creates Uncertainty
Nigerians have continued to face challenges in their financial transactions due to inadequate circulation of the newly redesigned Naira notes.
This follows the February10 deadline for the legal tender status of the old notes which expired on Friday.
The Tide source reports that stakeholders across the country are expressing frustration in accessing the new Naira notes.
While traders and other small business owners have stopped accepting the old Naira notes across the country, Nigerians who are still in possession of the old notes are left stranded.
This is in spite of a Supreme Court ruling, which urged the Federal Government to accept the old notes as legal tender until Feb. 15.
The apex court’s ruling was on a suit brought before it by the governors of Kaduna, Kogi and Zamfara states, seeking to halt the Naira redesign policy.
The Supreme Court had in a unanimous ruling granted an interim injunction restraining the Federal Government from implementing the Central Bank of Nigeria (CBN’s) Feb. 10 deadline for the swapping of the old naira notes with the new ones.
A financial expert, Mr Okechukwu Unegbu, urged the government to obey the ruling.
Unegbu, who is a past President of the Chattered Institute of Bankers of Nigeria (CIBN), said there was no need for Nigerians to panic.
He said the law mandates the CBN to accept the old Naira notes in exchange for the new ones anytime they were presented.
He urged the apex bank to obey provisions of the act that set it up, adding that the Naira redesign policy and currency swap were supposed to be long term projects.
“The President should imstruct the CBN governor to hold on until when the Supreme Court will consider the matter on February 15.
“The apex bank should also obey Section 20 of the CBN Act, which provides that it should continue to accept the old notes for swap, even when they cease to be legal tender,” he said.
Meanwhile, the National Council of State on Friday, urged the CBN to immediately make enough of the new Naira notes available to Nigerians or resort to circulating the old notes.
Rising from a meeting presided by President Muhammadu Buhari, the council, however, declared its support for the Naira redesign policy.
It said that there was the need for the CBN to ensure adequate provision of Naira notes in the system.
The CBN has also assured Nigerians of its capacity to meet the country’s Naira demand.
It denied a report that had gone viral on the Internet that the Naira shortage was due to challenges faced by the Nigeria Security Printing and Minting Company (NSPMC).
According to a statement by Osita Nwanisobi, CBN’s Director, Corporate Communications Department, at no time did the apex bank make such disclosure.
“What the CBN governor told the National Council of State meeting was that the NSPMC was working on printing denominations of the Naira to meet the transaction needs of Nigerians.
“For the avoidance of doubt, the CBN remains committed to performing its monetary policy function as stipulated in the CBN Act.
“We also wish to reiterate that the NSPMC has capacity and enough materials to print the required indent of the Naira,” he said.
He said that the apex bank was working assiduously to increase the circulation of new notes in the country.
Similarly, the NSPMC also expressed its capacity to produce and circulate adequate quantities of the new notes.
According to a statement by the company’s Managing Director, Ahmed Halilu, NSPMC has made adequate arrangement to continously produce redesigned banknotes as well as other denominations in line with the CBN indent for the year.
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A non- governmental organisation under the aegis of South South Media Association has presented an award to the Divisional Police Officer, Omoku ,CSP John Ladan.
The event which held recently in Omoku in Ogba/ Egbema/Ndoni Local Government Area of Rivers State, saw the attendance of top ranking officers and well wishers who gathered to celebrate an icon.
Presenting the award, the Chairman of the group, Kio Hopeson, said following the DPO’s selfless service to humanity, peace and development of the society, the group found him worthy to receive the award.
Hopeson hinted that the award had long been overdue, as his posting to Omoku had brought about peace, social harmony and drastic reduction of crime, saying, his open door policy and ensuring that every stakeholder is carried along in the fight against crime, was a contributing factor.
He said their investigation revealed that the people were extremely pleased with the reduction of crime under his watch in the area, stressing that his effort to interface with everyone has boosted the cooperation between the police and the residents.
On his part, the recipient, CSP John Ladan thanked the group for the honour done him.
The DPO expressed his gratitude to God and the Commissioner of Police for the support given him to serve.
He urged the people to see the police as friends as their job is protection of lives and property.
As part of efforts towards enrolment into the National Health Fellows programm of the Federal Government, the Rivers State Government in partnership with the World Health Organisation, (WHO) and other development partners has started the process of interviews for the selection of health professionals to be enrolled into the programme.
The National Health Fellows Programme is an interventionist initiative by the Federal and State Governments following the declaration of a state-of-emergency on the health sector by President Bola Ahmed Tinubu in 2023.
The initiative is aimed at reducing the physical and financial burdens on health-seeking Nigerians.
Briefing newsmen in Port Harcourt, the Acting Director, Research and Planning, Rivers State Ministry of Health, Dr Juliane Nwoke, who spoke on behalf of the State Commissioner for Health, Dr Adaeze Oreh said the programme is expected to enrol 774 persons representing each of the local government areas in the country.
In Rivers State, she said 23 persons are expected to emerge from the 69 shortlisted candidates, adding that already, nine persons have been interviewed, adding that the successful candidates would be engaged by the Federal Government for a period of one year to support the provision of healthcare services especially public health at both local, state and national levels.
She explained that core areas of competencies of shortlisted candidates includes public health, proficiency in Information and Communication Technology and data management.
“We have interviewed already, about nine candidates and by the end of today, we’ll be interviewing about 29 candidates.
“The interviews will end officially today for Rivers State because we are expected to interview 69 candidates.
“Specific competencies were considered in the selection process with interest on competencies in public health, ICT and data management, so we received the shortlist of candidates which we expect are based on these competencies.
“As you may know, there is a global and local shortage of manpower, so the 23 who qualifies in this round will add to the skilled manpower that is needed to drive healthcare delivery.
“As per impact, this fellows would be engaged directly by the Federal Government for a period of one year to support healthcare delivery and population health management at the local government, state and perhaps national levels, working directly from their LGAs,” she stated.
Dr. Nwoke assured shortlisted candidates of fairness in the screening process, maintaining that only the best will emerge at the end of the exercise.
John Bibor
The Nigeria Civil Service Union(NCSU) has described as unacceptable, callous, wicked and cruel the judgments and pronouncements of the Supreme Court last Friday, concerning Rivers State political crisis, saying they are nothing to write home about.
This is even as the union has said Nigeria is fast drifting to a Banana Republic, where the rule of law is not upheld but thrown overboard.
The union equally took to the cleaners the Justices, who gave the judgments and pronouncements, for allegedly mortgaging their consciences, and urged Rivers State Governor, Sir Siminalayi Fubara not to obey the judgments until such a time that the case bordering on the defection of the 27 pro-Wike lawmakers, pending at the Court of Appeal is dispensed with.
The Rivers State Chairman of NCSU, Comrade Chukwuka Richman Osumah, who canvassed this position in an interview in Port Harcourt, particularly described the judgment ordering the Central Bank of Nigeria(CBN) and the Accountant General of the Federation not to release the Federal Allocations of Rivers State as not only callous and wicked but cruel and self-serving.
He said civil servants in the State in particular reject the judgements and pronouncements of the apex court in their totality, and enjoined them to rise up against all plots and machinations to unseat the Governor, as a demonstration of their love, support and solidarity for him, contending that folding their arms and watching the plots to succeed, would amount to giving the enemies of the State a free rein to overrun the State.
He said the workers firmly believe that those fighting Governor Fubara, are not only fighting him but the people of the State, and enjoined them to rally round the Governor, who he noted has put smiles on their faces within the short period he has been in office.
Osumah noted that the Supreme Court judgments and pronouncements are an attempt by enemies of the State to pull the hands of the clock backwards, considering the monumental achievements of the Fubara administration so far.
He said it is unfortunate that the Justices who handed down the judgments and pronouncements, have through their actions and inaction, desecrated the sacred temple of justice, and by so doing making the judiciary a laughing stock in the eyes of the world, instead of elevating it in such a way that it becomes the much-acclaimed last hope of the masses and the common people in the country.
He decried a situation where the country’s judiciary has rather degenerated to a level where the highest bidders have held it hostage, at the expense of the ordinary people, saying it is a strong indication that the country is fast drifting to a Banana Republic, where the rule of law is bastardised and thrown overboard.
According to him, the judgements and pronouncements portend grave danger for the State and the people, as they are a recipe for chaos, confusion and unabated crises.
Osumah further lamented a situation where the case bordering on the defection of the Martin Amaewhule-led lawmakers is relegated to the background while other contending issues are given undue preference and preeminence, saying the defection case is rather the kernel and pivot on which every other matters concerning the political crisis in the State gravitate.
The labour leader, therefore, stressed the need for the execution of the Supreme Court judgments and pronouncements to wait, pending the final determination of the defection suit, describing as hasty and preposterous the issuance of a 48-hour ultimatum to Governor Fubara by the 27 pro-Wike lawmakers, to present before them the 2025 Budget of the State.
Osumah equally reminded civil servants in the State that the time has come for them to boldly rise up and defend one of their own, and never allow the shenanigans of the old order to overwhelm and subject them once more to the throes and pangs of penury, poverty and needless suffering and hardship.
He recalled with glee that Governor Fubara has wiped away their tears, by not only providing a conducive environment for them to operate but also making sure that their welfare needs are given top priority, thereby restoring and providing all that the enemies of the State had denied them in the past.
While reiterating that the entire workforce in the State vehemently reject the judgments and pronouncements of the Supreme Court, Osumah said the apex court has through such judgements and pronouncements, declared war against the State and her people.