Ondo pastor fakes obituary to avoid N3m debt repayment
2023: Kwankwaso has no deal with Atiku ― Alkali, NNPP Chair
Protest rocks Enugu over fuel price hike, CBN monetary policy
Alleged impersonation: ICPC to prosecute final year law student, 5 others — JAMB
Some Persons In Aso Rock Working Against Tinubu – El-Rufai
Police Station, INEC Office Bombed In Anambra
We Are Not Aware Of People Working Against Tinubu – Lai Mohammed
2023: CBN, Obi, Atiku, Aso Rock can’t stop Tinubu – Fani-Kayode
New naira scarcity ploy to discredit Buhari – Oluwo of Iwo
Aisha Buhari Shares El-Rufai’s ‘Bombshell’ On Social Media
Rivers govt withdraws approval of stadium for Atiku’s campaign rally in Port Harcourt
South African policemen arrested for allegedly torturing Nigerian to a coma
Why I will work against Abiodun’s re-election – Amosun
ICPC arrests woman selling new Naira notes on social media
Court sentences two rapist to life imprisonment
Naira Redesign Doesn't Make Any Political Or Economic Sense - El-Rufai [VIDEO]
Man loses pregnant wife after disappointment by bank over new naira notes scarcity in Kaduna
[OPINION] The Hurried Death Of January 2023 - Tola Adeniyi
[PRESS STATEMENT] Response to stadium cancellation - Abiye Sekibo
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Presidential Polls: Rivers people already know who I’m supporting — Wike
2023: Support Obi/Datti, Wike, G5 Govs told
[OPINION] The Governor and the Cemetery Boy - Olusegun Adeniyi
[OPINION] Don’t buy Tinubu’s parasitism - Abimbola Adelakun
Obi, Kwankwaso won’t step down for Atiku – NNPP, LP
IGP Drags Kwara APC Candidate To Court Over Alleged Falsification Of Academic Records
Fani Kayode, Ex-Wife, Precious Celebrate Son On 7th Birthday
Trouble For Adeleke As INEC REC Exposes BVAS Crime Performed During Osun Elections
I Have Been Having Sex, Despite Being Single For Over 10 Years, – Mr Macaroni
Emefiele Has Hidden Agenda — Fani-Kayode
Hoodlums Attack, Shoot At Seyi Makinde’s Convoy, Destroy Vehicles
Naira Swap: Bank Chiefs Challenge CBN On Quantity Of New Notes
ICPC arrest actress for selling new Naira notes on social media
[COMMENTS AND ISSUES] Are Nigerias enthusiastic about retrieving Nigeria? - Andrew A. Erakhrumen
Respite appears to have come the way of Nigerians amid the currency swap conundrum as the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says Nigerians can still deposit old naira notes at banks after the February 10 deadline elapses.
Speaking when he appeared at an interactive session with the House of Representatives Ad hoc Committee on the currency redesign and naira swap policy on Tuesday in Abuja, Emefiele said banks will continue to accept old naira notes after the deadline.
Emefiele added that the apex bank will also continue to collect the old naira notes from commercial banks after the stipulated deadline.
Emefiele made reference to the CBN Act which mandates the apex bank to continue to accept old notes after the expiration of the deadline.
Speaking about the redesign of the naira, he said the CBN’s actions were in line with international best practices and the apex bank has to be in control of the currency in circulation.
Emefiele said in 2015 N1.4 trillion was in circulation, and by last year it had risen to N3.33 trillion.
He explained that the reason for directing banks to ensure only ATM withdrawals was to limit the daily withdrawal of individuals.
The CBN boss decried the trend of the new notes being sighted at parties and stated he was in meetings with commercial banks to mitigate these.
Emefiele admitted that the policies would affect some persons negatively but claimed it was in the interest of the country especially in combating insecurity and corruption.
Godwin Emefiele has once more come under fire from Femi Fani-Kayode, the APC presidential campaign council’s director of new media.
Fani-Kayode referred to the Governor of the Central Bank of Nigeria as an enemy of democracy in a statement released on Tuesday morning.
According to the former minister, Emefiele has no immediate plans to issue enough new naira notes.
He also asserted that the CBN governor’s actions are intended to deprive Nigerians of money and cause them to become enraged.
“Emefiele has weaponsed the CBN and is an enemy of democracy. The policy of cancelling old notes must be totally canceled until AFTER the election and then done lawfully. He wants to cause a crisis, provoke a people’s uprising, derail our democracy and pave the way for an ING.
“He has NO plans to release enough new naira notes any time soon. He wants to STARVE the people of cash & drive them to rage out of frustration. This is not about politics but about stoking up protest and revolution. This is subversion and destabilisation. He must be stopped and caged!”
Fani-Kayode had on Sunday claimed that there are PDP sympathizers embedded in certain institutions in the Nigerian system fighting for the interest of Atiku Abubakar.
He made the statement in reaction to the extension order issued by the President on old naira notes.
The minister said: “The President has ordered the deadline for the submission of old naira notes to be extended by 2 weeks.
“This will lessen the tension and pain of the people and strengthen the democratic process and the legitimacy of the coming election.
“This proves that Asiwaju’s comments in Abeokuta were appropriate and our collective warnings were taken seriously.
Thankfully we have a listening and receptive President who had the courage to direct the CBN Governor and those that are behind him to do the right thing.
“The APC cannot be divided or defeated by a group of PDP sympathizers embedded in certain institutions in the system fighting for the interest of Atiku and his carpet baggers, crooked business partners and goons.
Like I said before the cat is out of the bag, we know who you are and we will soon publicly expose you and your collaborators by name. Nigeria will never fall back into the clutches of the PDP and Asiwaju will be our next President whether you like it or not. Live with this and know peace.”
The country’s ongoing fuel shortage has alarmed the Independent National Electoral Commission (INEC), which has expressed fear that it may affect election day operations.
Prof. Mahmood Yakubu, the chairman of INEC, said this on Tuesday in Abuja at a consultation with the National Union of Road Transport Workers, or NURTW.
As a result, the commission announced that it will meet with the management of Nigerian National Petroleum Company Limited NNPCL later on Tuesday to discuss possible solutions.
“The Commission shares your concern about the fuel situation in the country and its impact on transportation on Election Day. The truth is that our arrangements may be negatively affected by the non-availability of products.
“For this reason, the Commission will this afternoon meet with the Nigerian National Petroleum Company Limited (NNPCL) to look into ways to ameliorate the situation. I wish to assure Nigerians that we will continue to engage every national institution for the success of the 2023 General Election”, said Yakubu.
He said the meeting with the NURTW officials was to put finishing touches to the implementation of the Memorandum of Understanding MoU signed between the Commission and the Union on 20th December 2022.
It would also see to conclusion on the modalities for the certification of vehicles by the Federal Road Safety Corps FRSC in the light of the emphasis the commission places on the safety of election personnel and materials.
According to him, the issue of logistics has been a perennial problem in election administration in Nigeria.
“That is why for three electoral cycles now, INEC has collaborated with the road transport unions to address the problem. For the 2023 General Election, the Commission has included the Marine Workers’ Union of Nigeria MWUN for efficient maritime transportation.
“The time has come to stop all excuses and provide effective logistics to ensure hitch-free logistics on Election Day. Nigerians should not wait for the arrival of personnel and materials at the polling units. Rather, we should be there waiting for the arrival of voters. We believe that this is achievable. Recent elections have shown that working in partnership with the unions and other stakeholders, we can achieve the objective. This is a patriotic duty and we should make the necessary sacrifice in the national interest.
“The Commission is aware that this is an enormous task. Election is the largest deployment a nation periodically undertakes and mobilisation of vehicles for election is a large and complex exercise. However, this comes only once in four years. What is critical here is forward planning. We have presented to the Union the number and specifications of the vehicles required for the election. We have also indicated to you the locations where the vehicles are needed.
“Happily, your members are spread across the country. Therefore, vehicles conveying personnel and materials will not travel long distances. In fact, all movements should be within a State and preferably within Local Government Areas. There should be no inter-State movement. I should also remind you that our MoU covers both forward and reverse logistics. This means that there is an obligation to return the personnel and materials to designated locations after the election.
“We are working with the security agencies to ensure the safety of your members and their vehicles during the election. Just like our election duty personnel, their safety is paramount. That is why in the most recent elections conducted by the Commission, the leadership of your Union at State level attended several meetings with our officials and the security agencies. We also ensured that your Union was represented in our Situation Room to coordinate the deployment of vehicles and the security of drivers. We will ensure that a similar arrangement is made nationwide for the general election”, he stated.
Against the backdrop of a ruling by the Osun State Governorship Election Petitions Tribunal nullifying his election, Governor Ademola Adeleke has dismissed claims that he forged his school certificate.
Adeleke, in a statement by his spokesperson, Olawale Rasheed, on Tuesday, maintained that he didn’t forger his certificate, adding that rather, his school made a mistake.
His dismissal comes from the Tribunal’s judgement that the All Progressives Congress, APC and its candidate in the July 16, 2022 governorship election, Adegboyega Oyetola, proved a case of forgery against Adeleke.
The governor however denied the claim, saying it was the school that made an error.
The statement reads partly, “We seek to clarify a very sinister component of the Kangaroo judgement on Osun Governorship election. Governor Ademola Adeleke did not forge any certificate or testimonial.
“The Issue of forgery has to do with an error on school testimonial which bear Osun instead of Oyo state. Osun State was part of Oyo State when Governor Adeleke completed his high school education in 1981.
“The issuing school testified before Court of Appeal in 2018, that it was their error, which has nothing to do with Governor Adeleke. The Court of Appeal ruled that there was no forgery and exonerated Governor Adeleke of any forgery.”
According to the statement, the public should know that the governor did not forge this testimonial or any certificate.
The spokesman added that the claim is an attempt to damage Adeleke’s reputation.
“The Tribunal Chairman should explain how he arrived at his opinion when the Court of Appeal has cleared Governor Adeleke of any forgery,” he said.
Rt. Hon. Sheriff Oborevwori, a PDP candidate for governor in Delta State, was docked at the Federal High Court in Asaba on Tuesday regarding an accusation of certificate forgery brought by former candidate Chief Novwie Ikie.
The trial judge heard testimony from Oborevwori, the Speaker of the Delta State House of Assembly, who asserted that he was the original owner of the WAEC certificate that his opponent was accused of forging.
He confirmed to the trial judge that he was born in 1963 rather than 1979 by supplying pertinent documentation to support his claim.
He also told the court that in an effort to correct the erroneous date of birth in his WAEC certificate, he swore to an affidavit and Deed Poll to correct the date.
The case was adjourned to February 22nd, 2023, after the defence lawyers closed their case for adoption of written addresses by respective counsels
Police operatives in Kwara said a suspected member of Aye Cult gang, Safi Abolaji, aka Ojulari, was arrested at the rally of All Progressives Congress, APC held on Monday at Sarumi, in Ojuekun area of Ilorin, the state capital with two guns, cartridges and charms.
According to a statement from SP. Okasanmi Ajayi, the Kwara Police Command spokesperson, Abolaji was subdued by rally attendees and police officers after he was found in possession of the lethal weapons.
The suspect, who, according to the police was recently released from prison, confirmed that he is to be a member of the PDP in Kwara and could not explain why he was at the rally of the APC.
The statement read: “Acting swiftly on intelligence to the effect that, at the APC political rally on January 29, 2023, at about 1530 hrs, held at Ojuekun Sarumi area, Ilorin, one Safi Abolaji, AKA Ojulari “M,” age 44, of Kankatu area, Ilorin, was overpowered by public-spirited persons and policemen with two locally-made short-guns with cartridges and some charms found in his possession.
“During the investigation, the suspect, who confirmed to be an active member of the Aye confraternity and who was also just recently released from the correctional facility after serving a prison term, could not sufficiently explain his presence at the rally, having confirmed to be a member of the People’s Democratic Party (PDP) in the state.
“An investigation into the matter is ongoing to establish his motive and to arrest other members of his cult group.
“The Commissioner of Police in Kwara State, CP Paul Odama, has for the umpteenth time warned criminal elements to change their ways or leave Kwara State in their own interest.
“He promised that the command would not leave any stone unturned in making Kwara State conducive for all positive human endeavours,” the statement read.
Ajayi said the suspect would be charged in court as soon as the investigation into his case is concluded.
first African country to receive service
SpaceX’s Starlink is now available in Nigeria, the company has said.
The Elon Musk-owned firm confirmed this in a tweet on Monday, stating that Nigeria was the first African country to enjoy its services.
It tweeted, “Starlink is now available in Nigeria – the first African country to receive service.”
Nigeria is the 47th country in the world to get Starlink Internet services.
Starlink seeks to deliver a global broadband network, using a constellation of Low Earth Orbit to provide high-speed internet coverage with the capacity to penetrate rural and geographically isolated areas.
Before the announcement yesterday, discussion between spaceX and Nigerian authorities to launch its internet service in the west African country started in late 2021 albeit virtually.
The company started talks with the Nigerian Communications Commission to begin the process of pursuing all necessary licenses to bring Starlink, its satellite-based broadband services to Nigeria.
Having made substantial progress in the discussion, the Commission granted SpaceX’s request for a face-to-face discussion to gain better insights on the prospects of their proposal.
Led by SpaceX’s Starlink Market Access Director for Africa, Ryan Goodnight and supported by the company’s consultant, Levin Born, the company provided an overview of its plans, expectations, licensing requests and deployment phases during the meeting.
After the presentation by SpaceX team, the Executive Commissioner, Technical Services, NCC, Ubale Maska, who stood in for the EVC, said NCC will work on necessary modalities to ensure that it balances the need for healthy competition vis-a-vis the entry of new technologies, in order to protect all industry stakeholders.
“As the regulator of a highly dynamic sector in Nigeria, the Commission is conscious of the need to ensure that our regulatory actions are anchored on national interest.
“We have listened to your presentation and we will review it vis-à-vis our regulatory direction of ensuring effective and a sustainable telecoms ecosystem where a licensee’s operational model does not dampen healthy competition among other licensees,” Maska told the SpaceX delegation.
According to NCC, broadband penetration hit 47.36 per cent as of December 2022. Nigeria hopes to increase its broadband penetration to 50 per cent in 2023 and 90 per cent in 2025.
The ‘Nigerian National Broadband Plan: 2020–2025,’ reads in part, “The new Broadband Plan is designed to deliver data download speeds across Nigeria of a minimum 25Mbps in urban areas, and 10Mbps in rural areas, with effective coverage available to at least 90 per cent of the population by 2025 at a price not more than N390 per 1GB of data (i.e. 2 per cent of median income or 1 per cent of minimum wage).
An ongoing protest has rocked Benin City, Edo State, over an unofficial N700 per/litre hike in the price of Premium Motor Spirit, PMS, popularly known as petrol.
The protesters, with placards, are asking the state government to set up a price control committee to check the prices of petrol and other essential commodities.
The protest led to the blocking of Sapele road, Ring road, and other significant parts of the city, causing gridlock.
Former Coordinator-General of Edo State Civil Society Organisation, EDOSCO, Omobude Agho, lamented that citizens had suffered untold hardship amid affluence.
He noted that Nigerians could no longer endure hardship caused by the hike in the prices of petrol, describing it as anti-people.
“Fuel has become N700, and minimum wage is still N30,000. He stated that a bag of rice is over N50,000, and the minimum wage is still N30,000”.
Reacting to the protest, the Edo State Governor said his government would do everything to address the problem.
Special Adviser to Edo State Governor on Media Projects, Crusoe Osagie, stated that it would work with relevant stakeholders to address the matter.
It added that the government would set up a monitoring committee within 24 hours to ensure fuel marketers do not exploit citizens.
“The government acknowledges the plight of Edo people, who have had to endure gruelling experiences accessing petroleum products and the exorbitant prices the product is sold for in the state in the last few days.”
The Minister of Interior, Rauf Aregbesola, has said Lagos State needs more passport front offices of the Nigeria Immigration Service in addition to the one he inaugurated in the Alimosho area of the state on Monday.
According to him, this is because half of all passport applications, which he placed at about 100,000, are made in the state.
Aregbesola said the Alimosho front desk office will ease the pressure on the three existing passport control offices in the state and curb shortages in the issuance of passports.
He said, “We are committed to expanding our Passport Issuance operations to bridge the shortage gap we face usually in urban centres like Lagos. It is this need that gave birth to the Alimosho Front Desk Office to ease the ever-increasing pressure on the three existing Passport Control Offices domiciled in Lagos.
“We promise to speed up the expansion process despite the challenge of limited resources.”
The minister said the Alimosho front desk office is not an express centre or a full-fledged passport office like the ones in the Ikoyi, Alausa and FESTAC areas of the state but a place where biometric data of applicants would be collected.
He said, “A front office is where applications will be made and biometric data of the applicant will be collected. It is a non-judgemental centre, meaning that no decision will be made here, no passport will be produced here and no further processing will be done here, but the application and biometric data of the applicants will be collected and forwarded to the NIS for processing and issuing.
“We certainly need more of this in Lagos. This is because half of all passport applications are made in Lagos. At no time are less than 100,000 applicants from Lagos on the NIS portal applying for passports. We will therefore need not less than 15 of these front offices in Lagos alone, to be able to cut the application waiting period to one week.
“But due to funding challenges, the government may not be able to provide these desk offices. We will therefore need private partners that will provide the lounge. Their only involvement will be to provide the space. The offices will still be manned by NIS personnel. Having these offices will remove the bottlenecks that lead to exploitation and eliminate all the challenges we face in urban centres where applications are unusually high.”
In his remarks, Comptroller General, Nigeria Immigration Service, Isah Idris, urged the pioneer officers of the Alimosho office to live above suspicion in all their dealings with customers and to be courteous and professional in the discharge of their choice duties.
“The Passport Office remains a no-go-area for touts, passport racketeers, fake breeder documents harvesters and all sorts of undesirable elements. I wish to warn that the long arm of the law and its full force will be visited on any person who by an act of commission or omission infringes on the Passport Offences as stipulated in Section 10(1a-h) of the Immigration Act, 2015”, he added.
The Kogi State House of Assembly has recalled four suspended members.
The lawmakers who were recalled are Rt Hon. Ahmed Mohammed, former Deputy Speaker; Hon. Bello Hassan Abdullahi Balogun, former majority leader; Hon. Idris Ndakwo, Lokoja II; and Hon. Moses Ododo, former Deputy Chief whip.
The four lawmakers were suspended in June 2023 for alleged gross misconduct, which was investigated by the house committee on ethics and privileges.
Speaker of the house, Rt. Hon. Mathew Kolawole announced the lifting of the suspension on Tuesday during the house sitting in Lokoja.
Kolawole said the suspension of the members is not the wish of any members in the house, adding that the seventh Assembly is gradually coming to an end hence the need for peace and harmony among members in the state.
Reading the findings of the house committee on ethics and privileges, the chairman, who doubles as the Chief Whip, Hon. Ahmed Dahiru, said the suspended members were remorseful for their actions and should be recalled to perform legislative duties.
Some Muslim youths, scholars and organisations in Ibadan, the Oyo State capital, have staged a protest over alleged rape of a Muslim lady in one of the mosques in Ibadan.
The woman was in ‘Niqob’ Purdah when the incident occurred,
The protest was staged by the concerned Muslim leaders.
The protesters demanded prosecution of the suspect.
A Muslim lady, who was in purdah, was allegedly raped inside a mosque at Iwo Road area of Ibadan.
A source said, An unfortunate incident happened on Sunday in Ibadan, when the son of a road transport union sneaked into a mosque and raped a niqobite.
This then prompted the concerned Muslim leaders to stage the protest on Monday.”
The concerned Muslims were led in the protest by an Ibadan-based Islamic cleric, Sheikh Amubieya.
He said, The thug who raped a niqobite (Muslim lady in veil) has been identified as Idris, also known as Kesari.
He is the son of a union leader known as Al-Majiri. He was arrested by the police and the case has now been transferred to the State CID.
The Ilobu Asaka Development Union (IDU) has described a statement alleging that the Olobu of Ilobu, Oba Asiru Olatoye Olaniyan was planning to develop a disputed parcel of land as inciting and malicious.
In a statement signed by the Union’s National President, Pastor Oluremi Salako, he described the statement credited to Prince Jide Akinyooye as spurious and unfounded.
While affirming that nobody from Ilobu had been developing or was making efforts to commence development on the disputed land at Gbere area, IDU warned that if there was any breach of peace between the people of Ilobu and people of Ifon-Osun, Prince Jide Akinyooye and his financiers should be blamed and held responsible.
According to the statement, To put the record straight, the residents of the Opapa approached the Olobu for assistance to get some drainage culverts fixed ahead of the rainy season.
This was after they had made frantic efforts on their own to fix the structure that may later make the road totally impassable. This is in preparation for the rainy season as the road is critical to the transportation of farm items to urban centers.
The monarch, being a father to all, swiftly mobilised his personal resources to aid in fixing the road and get the culvert done. This rehabilitation is ongoing in Opapa not Gbere as alleged.
We also wish to express that Opapa village is different from Gbere and it’s about 5km from each other. Opapa exclusively belongs to Ilobu and has never been a subject of dispute. Uncontroverted documentary evidence is available to support this. Annexing it to Gbere by the Ifon-Osun people is mischievous. Opapa is not Gbere!
IDU also maintained that Oba Olaniyan and indeed the people of Ilobu are law abiding citizens of Osun State who have been living peacefully with people of Ifon-Osun even in the face of unnecessary acts of provocation.
Earlier on Monday, a community-based group, the Ifon-Orolu Progressive Union (IPU) had called on the Osun State Government to as a matter of urgency prevail on the Olobu of Ilobu, Oba Olatoye Olaniyan, the Olobu of Ilobu, not to cause another communal crisis between the people of Ifon-Osun and Ilobu.
IPU also maintained that the call became necessary in the overall interest of peaceful coexistence between the two communities.
In a statement signed by Prince Jide Adelaja Akinyooye, on behalf of IPU, the group stated that it had become imperative to call the attention of the Osun State Government and security agencies to the alleged grand schemes by the people of Ilobu community to cause mayhem that would reignite a fresh communal clash between the people of Ilobu and the ancient Ifon-Osun Kingdom.
In February, 2021, there were communal clashes between the two communities which share a common boundary in the State.
As a result of the clash, lives were lost, a development which made the administration of former governor Adegboyega Oyetola declare a curfew in both Irepodun Local Government (Ilobu) and Orolu Local Government (Ifon-Orolu).
Human Rights Writers Association of Nigeria, HURIWA, has warned that the current scarcity of the new naira notes is a threat to national security.
There is existing severe scarcity of newly introduced Naira notes in most banks across Nigeria.
According to HURIWA, the inefficiency of the governor of the Central Bank of Nigeria, CBN, is a pointer to why Nigeria needs an independent Governor of the apex bank.
The group believes the current system of the bank leadership is politically tainted and compromised.
HURIWA said it believes that there is more Nigerians need to know about the haste with which the redesigning project of the naira was handled by the Governor of the CBN and President Muhammadu Buhari.
The rights advocacy group wondered how the CBN boss carried out such a monumental financial initiative at the same time he was being chased about by the Department of State Services and also facing a court Case in the USA.
The group, in a statement signed by its national Coordinator, Comrade Emmanuel Onwubiko, said it observed the organised chaos and rancorous situation over the lack of the new Naira notes and the attendant hardships experienced by millions of commoners across the country.
The group called on Buhari to do the needful to check the internal saboteurs within the banking system that are hijacking the new notes from the CBN and selling them to politicians and the rich.
HURIWA berated the apex bank boss for allegedly turning the office of the CBN Governor into that of a senior errand boy of the President.
Economic experts have reacted to the arrest of members of syndicates intercepted selling the new naira notes amid the suffering experienced by Nigerians over the currency’s scarcity nationwide.
On Monday, Nigeria’s secret security, the Department of State Services, DSS, and the Economic and Financial Crimes Commission, EFCC, said they busted syndicates trading the banknotes in exchange for profit in Abuja.
According to a statement on Monday by DSS spokesman, Dr Peter Afunanya, in the course of its operations, it also found that Commercial Bank officials were aiding economic malfeasance.
Similarly, the EFCC revealed that it apprehended a syndicate in Dei-Dei and Zone 4 areas of Abuja trading the new naira notes for profit.
The clampdown by security operators confirmed the fears that there are saboteurs within the banking system frustrating efforts to circulate the new naira notes.
A financial expert, Mr Idakolo Gbolade said saboteurs are contributing to the new naira notes scarcity nationwide.
The hoarding of the new Naira notes for profit is expected. The collaboration with bank officials to make a profit is distasteful. Their behaviour is also contributing to the scarcity of new notes.
The measure by the DSS should serve as a deterrent to offenders. If the DSS can always track these BDCs and syndicates, it would help to have more of the notes in circulation for ordinary Nigerians to access.
The CBN also shares in the blame due to the scarcity of the new notes which made these syndicates profit from the scarcity to the detriment of Nigerians.
As good as the deadline is, the CBN needs to make the new notes available to Nigerians.
Also, an Accounting and Financial Development don at Lead City University, Ibadan, Prof Godwin Oyedokun, called for more action by the DSS to sanitize the industry.
He explained that the CBN is to be partially blamed for the challenges experienced by Nigerians to access the new naira notes.
I have always known that the shortage of the naira new notes is not 100 per cent Central Bank of Nigeria’s fault.
It is so glaring that people are getting the notes illegally. On this note, I expect the DSS to be more vigilant and arrest the perpetrators. It is in our best interest for the DSS to clamp down on such persons.
There is a need to censor the parallel market dealers, Bureau De Change Operators dealing on unlawful business.
He stated, I would have loved a situation where the extension of the deadline to return the old notes wouldn’t have been the way it is. The extension would have been to mop up the old note, but the currency should have ceased being legal tender by 31 January 2023 as earlier announced.
During the weekend, the CBN governor, Godwin Emefiele, announced a 10-day extension for the deadline to return the old naira notes.
Emefiele emphasized that the government insisted on the naira redesign policy because some people held N2.7 trillion outside the banking system.
Meanwhile, he explained that N1.9trn had been returned so far, representing 75 per cent.