INSIDE THE COUNCIL OF STATE MEETING
It is most likely the last Council of State meeting to be chaired by Muhammadu Buhari as President, and it held on February 10, 2023, at State House, Abuja.
It was a hybrid meeting, with some attendees physically present, and others online. Former Presidents/Heads of State on parade included Gen Yakubu Gowon, Olusegun Obasanjo, Abdulsalami Abubakar, and Goodluck Jonathan.
There were two former Chief Justices of the Federation, Modibo Alfa Belgore, Mahmud Mohammed, and almost all the Governors of the States, either virtually, or physically.
There were two critical issues on the agenda. The forthcoming general elections, the redesigned naira notes, and the implementation hiccups.
On hand to brief the Council were Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, the Inspector General of Police, Usman Alkali Baba, and Governor of the Central Bank, Godwin Emefiele.
Prof Yakubu gave comprehensive briefing on preparations for the elections, status of voter registration and Permanent Voters Cards, expansion of voter access to polling booths, and the challenges before the exercise. And what are those?
Insecurity, attacks on INEC facilities, particularly in the South-east, campaign violence, campaign finance and vote buying, electoral litigation and adjudication, prosecution of electoral offenses, fuel scarcity, and the currency situation, among others.
But despite the litany of challenges, the INEC Chairman was upbeat. His words:
“The Commission is committed to conducting free, fair and credible elections…As far as we are concerned, we are ready to proceed with the elections as scheduled.”
Almost all members of Council who spoke had kind words for INEC.
The Police. IGP Alkali Baba also briefed, dwelling on state of preparedness for the elections. According to him, the current internal security situation in the country has implications for the 2023 elections.
He gave the challenges as banditry/terrorism, activities of separatists, illegal small arms and light weapons, cyber crimes, kidnapping, armed robbery, cultism, piracy, illegal oil bunkering, and political thuggery.
Others are; targeted attacks on INEC facilities, hate speeches, delayed release of funding, fuel scarcity, and uncertainties surrounding the currency swap policy.
The IGP concluded: “In line with Mr President’s charge, personnel of the Nigerian Police under my watch will remain professional, apolitical, firm, and unbiased in the delivery of their election security tasks.”
Commendations for the Police, too.
Then to the biggest issue. Naira redesign and the attendant implementation problems.
Mr Godwin Emefiele, CBN Governor, painted graphic picture of where we were before the policy announcement, where we desire to be at the end of the implementation, and the key benefits expected from effective implementation of the redesign policy.
According to the Governor:
*The difficulty being experienced with the policy is transient, given the ultimate gain to our country.
*There are unscrupulous and unpatriotic elements among bankers, “whose greed and malevolence are sabotaging the CBN’s efforts.”
*The policy is not targeted at anyone or group of persons, but rather derived from analysis to strengthen our macroeconomic fundamentals and better our socio-economic conditions.
*The general practice across the globe is for central banks to redesign national currency within 5-8 years, but Nigeria has not done for over 19 years.
What are the aims of the policy? Said Emefiele: to make monetary policy more efficacious, increase financial inclusion, support security agencies to combat banditry and ransom-taking, and curb corruption.
Then this rather alarming disclosure. In 2015, Currency-in-Circulation was only N1.4 trillion, but by October 2022, it had risen to N3.23 trillion, out of which only N500 billion was within the banking system, and N2,7 trillion held permanently in people’s homes. Such notes are then not available for economic activities.
He said the optimal value of currency in circulation for the Nigerian economy should be about N700 billion, but we had over three trillion.
“So far, since the commencement of this program, we have collected about N2.1 trillion, leaving us with about N900 billion,” the Governor said, adding: “We are happy that so far, the exercise has achieved a success rate of over 80 percent as about N2.7 trillion held outside the banking system has been returned. Nigerians in rural areas have had opportunities to swap their old notes, leveraging on the Agent Naira Swap initiative as well as the CBN Senior Staff nationwide sensitization team exercise.”
What are the general benefits of the policy? The Governor said it would reduce the amount of cash in the underground or illicit economy, truncate the activities of racketeers, and obliterate rent-seeking businesses in the black market. It will also reduce inflation, enhance stability of the naira exchange rate,
But why the endless queue and pressure round the country? The apex bank boss said it was due to hoarding of new naira notes, tension and elevated agitation, panic, mop up of notes by some politicians, and incidences of economic opportunism.
He concluded this way: “The advantages of the currency redesign are enormous and will benefit the economy in the long run. We will take all the necessary steps to ensure that there will be a smooth flow of currency swap and minimize the inconvenience in the short term.”
Not once did the Governor complain about the capacity and ability of the Nigerian Printing and Minting Company to meet currency print run demand. And what a shock it was when a major newspaper reported in its lead story the next day that Emefiele made the claim. It didn’t happen. I was at the meeting. No word like that. Happily, the CBN promptly refuted the story.
Now, what did Council members say of the naira redesign policy?
Former President Olusegun Obasanjo, who has been hypercritical of President Buhari for years, said change was necessary from time to time, and was also bound to be opposed.
He gave examples with the change of driving from the right to the left lane in the early 1970s, which was robustly opposed. The National Youth Service Corps (NYSC) scheme, he said was also resisted. He then submitted:
“We enjoy all these things today. I’ve experienced currency change at least more than half a dozen times. When we increased feeding In universities from 50 kobo to N1, it led to ‘Ali Must Go’ riots. Resistance to change is normal, and people will always support, oppose, or be neutral. The naira change policy is good, but implementation is the issue. If there’s inadequate supply, let’s have more. If there are unscrupulous people sabotaging the policy, let’s deal with them.”
The former military head of state and civilian President said the naira policy “will bring little bit of sanity into our elections, have salutary effect on kidnapping and ransom taking, and corruption will be substantially reduced, as money passed through the banking system can be traced.”
On the briefing by INEC Chairman, Chief Obasanjo said: “Mr President, I commend your effort on preparedness. I wish the country free, fair, credible polls. It will be an example to other countries in West Africa, and in Africa.”
Almost all the Governors in attendance commended the naira redesign policy, but picked holes in the implementation. The same with President of the Senate, Ahmad Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila.
The meeting ended on a hopeful note that Nigeria would get its elections right, and also correct all the lapses in the naira redesign policy, which is being done now with the decision of the President to let the old N200 note remain a legal tender till April 10, 2023.
We will surely get there as a country, won’t we?
*Adesina is Special Adviser to President Buhari on Media and Publicity
PRESS RELEASE
17TH FEBRUARY, 2023
Delta APC: Panic-stricken, Drowning Party Seeking Elusive Straw to Clutch
The attention of Delta State Peoples Democratic Party (PDP) has been called to a scare orchestrated by the ill-fated and moronic All Progressives Congress (APC) at a phony press conference in which it accused the officials of the Peoples Democratic Party (PDP), including the party’s Vice-Presidential Candidate and Governor of the State, Dr. Ifeanyi Okowa, of allegedly working with unnamed officials of the Independent National Electoral Commission (INEC), to rig the forthcoming general elections in the State.
Accordingly, the Delta State PDP’s first reaction is to call the press conference and the allegations and vituperations against our party, the Vice-Presidential candidate of our party, and the Governor of Delta, Senator, Dr. Ifeanyi Okowa, and the imaginary party candidates as hogwash, a desperate move by a drowning and clueless party in search of elusive straw to hang on to.
This is especially so, as it is clear to everyone that the APC, having seen its imminent defeat in the 2023 elections, has become reckless and hopeless. The result is part of addressing a bogus press conference that is not genuine and making wild allegations of fake connivance by officials of the Independent National Electoral Commission (INEC) to rig the elections for the PDP by subverting the operations of the Bimodal Voters Accreditation System (BVAS) machines.
Although it baffles the imagination that someone could address a press conference to make spurious allegations, that however, didn’t come to the Delta State PDP as a surprise because we would have been taken aback if the APC and its infantile propaganda machinery did not come out true to type with its baggage of deceptive communication of crying wolf where there is none.
All the trash of allegations are laughable and deceptive, woven to divert the PDP’s focus from our ongoing stump hard work and house-to-house campaigns across the gamut of Delta State.
One thing is clear and that is that the APC is upset by the obvious imminent and resounding defeat that awaits it at the elections. Knowing quite well about this, and particularly knowing that Nigerians have seen through and are resisting its antics of using futile propaganda, the party has become lost and hysterical. It knows that Deltans have settled with the PDP and will vote for all its candidates at the elections. The APC and its leadership have become panic-stricken and therefore, furious.
For the avoidance of doubt, the PDP will trounce the APC at the elections in a resounding manner. It is the assurance that the PDP has elicited from Deltans during the rigorous but well-engaged campaigns.
Therefore, we call on the PDP faithful to ignore the gibberish called press conference by the APC’s lying machinery and remain focused on our diligent campaigns.
Since the APC said that it has reported its ghost findings to the police, we charge it to allow the police to do their investigation and its job of unearthing the truth.
VOTE FOR THE UMBRELLA!
VOTE PDP ALL THE WAY!!
PDP! Power to the people!!!
Dr. Ifeanyi M. Osuoza,
Deputy Director,
Media/Publicity Committee,
Delta PDP Campaign Council and State Publicity Secretary,
PDP, Delta State.
PRESS RELEASE
Sanwo-Olu: no need for violence in Lagos
The Lagos State Government has noted with deep concern the protests in some parts of the state this morning.
The protesters are said to be angry over the Naira redesign and its consequent scarcity that has caused so much hardship and confusion among our people.
Governor Babajide Sanwo-Olu believes there is no need for violence as the Supreme Court is looking into this controversial matter and will make its position known on February 22.
Lagos State has since joined the legal dispute- all in the interest of our people – in the belief that the highest court in the land has the capacity to adjudicate on the matter.
The fuel situation is easing following some steps taken by the government.
The government praises Lagosians for showing understanding, despite the pains that the Federal Government’s measures have brought. Residents should continue to be law-abiding by shunning any form of incitement by mischief makers.
Mr. Governor is working with his colleagues to ensure that this hardship does not go on.
Gbenga Omotoso
Honorable CCommissioner, Information & Strategy
17 February, 2023
Currency swap: Gbajabiamila faults FG’s disregard for Supreme Court order
…says CBN implementation of policy flawed
The Speaker of the House of Representatives Rep. Femi Gbajabiamila on Thursday faulted the decision of the Federal Government to disregard the Supreme Court order on the issue of currency swap.
The apex court had last week given an order for the old 1,000, 500 and 200 Naira notes to remain legal tender pending the determination of a case brought before it by some state governors. The apex court had on Wednesday reiterated its order and adjourned the matter to February 22.
However, the Executive arm of the Federal Government remained silent on the Supreme Court order.
On Thursday morning, President Muhammadu Buhari, in a nationwide broadcast, said he had instructed the Central Bank of Nigeria (CBN) to reintroduce the old 200 note until April 10, 2023, while the old 1,000 and 500 have stopped being legal tender.
But Gbajabiamila, in a statement he personally signed in Abuja on Thursday, said though the president’s directive was a step in the right direction, the Federal Government could not afford situations that “suggest a wanton disregard for the rule of law.”
“This morning, President Muhammadu Buhari, GCFR, announced that he has authorised the Central Bank of Nigeria (CBN) to reintroduce the old N200 notes into circulation, pending when the Bank can make sufficient amounts of the new currency available. This is a step in the right direction, and I hope it helps curb Nigerians’ suffering.
“However, the decision still falls short of the order of the Supreme Court that the old currencies remain legal tender pending the adjudication of a pending suit brought by state governments on the legality of the policy and its implementation.
“It is not to the benefit of our country for the Federal Government to act in ways that suggest a wanton disregard for the rule of law. It will be better for us to strictly adhere to the court’s order in this matter pending the adjudication of the substantive suit,” he said.
Amidst the hardship Nigerians face, Gbajabiamila urged the citizens to “bear this moment with equanimity.
“For the sake of our country, we must work together to resist actions that escalate tensions and endanger our democracy at this crucial moment of national awakening and rebirth.
“In all things, let the well-being of our fellow citizens and the survival of our nation be foremost in our hearts and guide all the decisions we make in this historic moment.”
Bemoaning the current situation in the country, Gbajabiamila said, “citizens and visitors are experiencing grave and unnecessary hardship across our country. They spend hours and days queuing at banks and teller machines to receive stipends of their own money to afford life’s necessities.
“This situation is a consequence of the flawed implementation of the naira redesign policy by the Central Bank of Nigeria (CBN). It is also the result of decisions made by the Central Bank’s Governor, Mr Godwin Emefiele, to refuse counsel, be guided by precedent or abide by the decisions of superior courts.”
He said Section 20(3) of the CBN Act, 2007 provides the statutory authority for the apex bank to initiate and implement policies for the recall of Nigerian currency.
He said based on the provisions of the law, there are three conditions precedent for the CBN to recall existing Naira notes.
“The first is that the permission of the President must be obtained, and the second is that reasonable notice shall be given. The third is that the Central Bank of Nigeria shall pay the face value of the recalled currency upon receipt.
“Whereas reasonable people may disagree as to whether sufficient notice was given for the implementation of this policy, it is evident that the Central Bank of Nigeria (CBN) has failed woefully in its statutory obligation to pay the face value of the recalled currency in the form that is useful to the citizens whose current suffering could have been avoided.
“The current scarcity of cash is happening because the Central Bank of Nigeria (CBN) did not sufficiently replace the old currency it pulled out of circulation across the country. This created an artificial scarcity that put significant additional pressure on the already epileptic electronic banking channels, resulting in a near-complete collapse of trade in the country.
“Businesses cannot operate because neither they nor their customers have access to cash, and electronic banking platforms appear to have uniformly collapsed. It is unclear what interest is served by persisting in this erroneous course towards an unfolding economic disaster that the country cannot afford. The ongoing devastation of livelihoods is bound to have consequences long after this moment has passed.
“It is disheartening that the Central Bank of Nigeria (CBN) has resolutely refused to admit error and change course in the face of mounting evidence that the implementation of this policy has been a devastating failure.
“It is deeply troubling that neither the intervention of the National Council of State nor an order of the Supreme Court is sufficient to cause the Governor of the Central Bank of Nigeria (CBN) to review the decisions that have brought us to this entirely avoidable moment.”
PRESS RELEASE
15TH FEBRUARY, 2023
DELTA PDP CONDEMNS SPONSORED DESTRUCTION OF PARTY BILLBOARDS IN WARRI, URGES PARTY FAITHFUL TO REMAIN CALM
The attention of the Delta State Peoples Democratic Party (PDP) Campaign Council has been drawn to a viral video footage, depicting the deliberate, gory, primitive, wanton vandalization and destruction of our huge Atiku/Okowa Campaign billboards, by thugs and miscreants, along Udu Express junction near Warri, Delta State, in broad daylight and in the full glare of onlookers who were clearly seen and heard, gleefully celebrating the dastardly action, with pomp and endorsement.
We have no doubts whatsoever, that these hardened thugs and recalcitrants, who, from the deftness and nimble dexterity of their expertise in climbing the billboards and clinically carrying out their nefarious actions, were definitely sponsored by the opposition with specific instructions to destroy only our billboards.
There is a very clear indication that this crude, anti-democratic demonstration of unprovoked, unnecessary violence so close to the commencement of the 2023 general election, was perpetrated against the backdrop of the recent unbearable, strangulating economic hardship visited upon Nigerians by the wicked APC Federal Government, through the naira redesign/swap and suffocating fuel crises that has gripped the entire Nigeria nation by the jugular, in a suffocating choke hold.
The currency swap in particular, is a deliberate policy of the All Progressives Congress, APC Federal Government, so we are at a loss to understand why they are now inciting riots across the country through their leaders, even as these same leaders and their Governors have gone to Court to challenge a policy of their own administration and leadership. This is truly a case of Things Fall Apart, The Centre Cannot Hold Anymore, The Falcon Cannot Hear The Falconer Again And Mere Anarchy Has Now Been Loosed upon Nigeria and Nigerians (to paraphrase W.B Yeats ‘The Second Coming’).
But amazingly, rather than direct their anger and wild destructive frenzy against APC BILLBOARDS and the object of their sufferings in Warri, these deliberately misguided and mentally imbalanced elements, chose to vent their anger on our harmless billboards, which lends sufficient credence and corroboration to our position that they were definitely sponsored by opposition groups and interests.
It is even more unfortunate and worrisome, that this unwarranted act of unbridled violence, is coming barely 24 hours after all the political parties in the State, including the All Progressives Congress, APC, and the Social Democratic Party, SDP were fully represented and signed a Peace Accord, in the presence of INEC, security agencies and civil society groups, in which they all committed and resolved to be of good conduct, eschew violence and maintain the peace across the State, in the run-up to the 2023 general election.
Lets us state categorically that no individual, group, or political party has a monopoly of violence, but as a responsible political party, we have embraced the truism that election is not war and there is no need to invoke the Code of Hammurabi in a contest which we are all participating as brothers, sisters, Deltans.
It is in this spirit of brotherhood and one Delta State, that we therefore appeal to our teeming supporters, to remain calm and peaceful in the face of this diversionary provocation. We know our capacity and we will respond accordingly on February 25 and March 11, at the ballot and our polling units with our PVCs, as we prove to these enemies of progress and democracy, that destroying our billboards is the worst they can do and this will not in any way, be enough to stop our massive landslide victory at the elections.
We also wish to caution the opposition and sponsors of this violence, especially the Delta State All Progressives Congress, APC Governorship candidate, Senator Ovie Omo-agege, to caution those who may be masquerading as his thugs, to be more circumspect in their opposition plans as we approach the elections, and desist henceforth and forthwith, from even conceiving and perpetrating any further acts of destruction and violence on our party billboards and other symbols. This is a friendly advice.
We have duly reported this matter to the law enforcement agencies, who were fortunately present at the Peace Accord signing ceremony, and we urge them to hold Senator Ovie Omo-Agege in particular, responsible for the wanton destruction perpetrated by those who may be acting as his thugs in Delta State and take swift and appropriate action to bring those found culpable for vandalising our billboards to book, in order to nip any further violence in the bud.
Delta State deserves free, credible, and peaceful elections and the PDP will not be intimidated, deterred or distracted by the defeatist actions of the shameless, unrepentant cowards and serial losers, from our determined march to resounding victory in the 2023 elections.
VOTE THE UMBRELLA!
VOTE PDP ALL THE WAY!!
PDP! Power to the people!!!
Dr. Ifeanyi M. Osuoza,
Deputy Director,
Media/Publicity Committee,
Delta PDP Campaign Council and
State Publicity Secretary,
PDP, Delta State.
Naira Scarcity Protests: Okowa appeals for calm
Governor of Delta and Vice-Presidential Candidate of the Peoples Democratic Party (PDP), Sen. (Dr) Ifeanyi Okowa has appealed to citizens of the state and Nigerians to remain calm amidst scarcity of the new naira notes in the country.
The governor’s appeal is coming on the heals of protests by some citizens of the state at Orhuwhorun Community in Udu Local Government Area of the state where a bank’s ATM gallery was reportedly torched.
Okowa’s appeal was contained in a statement by the State Commissioner for Information, Mr Charles Aniagwu in Asaba.
He called on the people to remain calm while also appealing to the Central Bank of Nigeria and the monetary authorities to take further steps in increasing the money supply in the system.
“We appeal to our brothers and sisters across the state to keep calm in spite of the current travails they are going through as a result of the scarcity of naira notes in the country.
“As a government we are not unaware of your sufferings but we appeal to you to be patient with the monetary authorities as they take steps to improve on the money supply in the country.
“We are very much aware of Your pains and converns, but burning down a bank that employs our people will not augur well for us as a nation even as it will not also solve the problem but will further compound the situation.
“Once again we appeal to you all to sheath your swords while we continue to engage the CBN to ensure more funds are released to the banks in the country,” he stated.
2023: Vote PDP to rescue Nigeria – Okowa
Vice-Presidential Candidate of the Peoples Democratic Party (PDP) and Governor of Delta, Sen Dr Ifeanyi Okowa, has urged the people of the state and Nigerians to vote for Alhaji Atiku Abubakar for rescue and rebuilding of the country.
Okowa made the call on Wednesday at the party’s campaign at Bomadi and Warri North Local Government Areas of the state, and said that only PDP had the right experience to rebuild the nation’s economy and stop the pervasive insecurity and economic crisis across the country.
“I appeal to you all not to use anger to throw away your votes; cast your votes for the PDP to rescue and rebuild this country.
“The PDP has the most qualified hands to remedy the situation we are going through in this country,” he stated.
At Koko, headquarters of Warri North Local Government Area of the state, Okowa assured the people of Gbokodor that his administration would start the electricity project in the area.
He added that if his administration was unable to complete the project, the incoming administration of Sheriff Oborevwori would, by the grace of God, bring it to completion.
He thanked his predecessor, Dr Emmanuel Uduaghan, for his role in helping to reconcile members of the party, pointing out that he was glad to note that peace had returned to the party in the area.
While thanking leaders, youths and women for their patriotic support to the PDP over the years, the Vice-Presidential Candidate urged them to sustain their support to the party.
“We will start the Gbokodor electricity project and if my administration is unable to finish it, Sheriff Oborevwori will finish the project by the time he comes on board by the grace of God, because government is a continuum.
“The PDP is coming to rescue the country. We have the right experience to rebuild the nation’s economy and stop the pervasive insecurity and economic crisis across the country occasioned by the APC-led Federal Government,” he said.
Okowa appealled to the people to vote overwhelmingly for all candidates of the PDP to enable the party give Nigeria a new lease of life.
Earlier in his remarks, Dr. Emmanuel Uduaghan said that the people of Warri North were very happy to host the last rally of the party ahead of the general elections.
While thanking God for making it possible for Okowa to visit the local government for the last lap of the state campaign rally in style, Uduaghan said “be assured that this local government will reciprocate your coming with a helicopter by given you and other PDP candidates a helicopter vote.”
Governorship Candidate of the party, Chief Sheriff Oborevwori thanked the people for their support over the years and urged them to vote all PDP candidates as the party was desirous to rescue and rebuild the country.
Flanked by his wife Tobore and his running mate Sir Monday Onyeme, Oborevwori said that his M.O.R.E Agenda would equitably develop all parts of the state from where the Okowa administration would stop.
Senator Representing Delta South Senatorial District, Senator James Manager thanked the people for the opportunity to serve them in the last 20 years.
He urged the people of Bomadi LGA to vote for the PDP as the party had recorded significant progress in the area.
Manager
“I welcome you all to Bomadi, the headquarters of Bomadi Local Government Area. I am a happy man because as pioneer State Chairman i brought this party here some years ago.
“I know the party is growing in leaps and bounds and i must put it on record that there has been remarkable and tremendous improvement in this area since PDP came in 1999 even though we would have loved it to be better than it is now.
“I thank the Delta South Senatorial District for the opportunity to serve them for the past twenty good years in the Senate.
“In a few months time I will be leaving the Senate with my shoulders high, without any scandals, no stain but by the grace of God.
“I will remain eternally grateful to the Ijaw, Isoko, Itsekiri and the Urhobos in Delta South for this great privilege.
“My appearance here today is not just symbolic but I have to be here to identify with my people. It is PDP all the way and I appeal to all those aggrieved to calm down as we remain one family,” he stated.
State Chairman of the party, Chief Kingsley Esiso; Director-General of the Campaign Council, Chief Funkekeme Solomon and top party officials attended the rallies.
APC taking advantage of suffering Nigerians to derail democracy – PDP
The Peoples Democratic Party (PDP) on Thursday accused the All Progressives Congress (APC) of taking advantage of suffering Nigerians to derail the electioneering process in the country.
Spokesman of the PDP Presidential Campaign Council, Mr Charles Aniagwu stated this at a news conference in Asaba.
Aniagwu who was in company with the Chief Press Secretary to the Governor, Mr Olisa Ifeajika said that the party was in support of President Muhammadu Buhari’s directive to recirculate the old N200 notes till April 10 to ease the suffering of the masses.
“We must agree with the President that we appreciate the things that Nigerians are going through on account of the scarcity of the new Naira note redesign.
“We believe that it is important that the CBN takes steps to further ameliorate what the masses are going through. And what the President did today, is a pointer that government is desirous of solving the challenges being experienced by very credible Nigerians as they approach the banks for their monies.
“The decision of the President that authorises the release of the old N200 naira notes into the economy in order to reduce the sufferings of people, is a welcome development.
“We also agree that it is important to take steps to curb corruption, issues of vote buying and that of insecurity, which has been a major problem. So this policy to a large extent, have addressed that.
“We do hope that the sufferings Nigerians are going through will be mitigated by this directive that Mr. President has given the CBN to release the old N200 naira notes up till the 10th of April,” he said.
He appealed for calm and patience to allow the CBN implement the President’s directive, noting that it would to a large extent ameliorate their suffering.
“We want to plead to our people to exercise patient with the government because we have it as intelligence that members of the APC both in the state and at the national level, are trying to take advantage of the pains in the minds of Nigerians to trigger some form of crisis with a view to derailing this election.
“What you saw happening in a number of places does not show the real pains in the minds of Nigerians who have demonstrated understanding with the government’s policy.
“You have seen what happened in Warri and Udu areas of Delta. Some are burning billboards and shops. The question is, do we keep the redesigned naira notes on bill boards or in those local shops?
“So it not proper for us to inflict pains on our fellow Nigerians. Therefore, it tells you that this protest is coming from somewhere with a view to creating crisis.
“Secondly, our brothers and sisters work in these bank branches and earn monies from the banks. So even if you burn down this banks, you are also causing pains for this our brothers who are going to lose their jobs on the account that the bank branch where they work is destroyed or closed.
“So we are pleading to Deltans and other Nigerians to please not to fall pray to the antics of those who know that they would lose this election and want to cause mayhem so that they undermine the election.
“We appreciate the pains and hope that the CBN would take immediate steps as directed by the president in order to reduce the suffering of our people at the ATMs.
Aniagwu who doubles as Commissioner for Information in Delta said “Those who might have stock piled money would have done so in the N500 and N1000 naira denominations, adding “we can assure you that the steps they are taking to trigger violence is not because they are fighting for us.
“But because they want to do those things to undermine the peace that we have in Delta and across the federation.
“Since this policy came in, we have it from intelligence agencies that the spate of kidnapping has stopped because if you kidnap anybody and asked the person to get huge sums of money for ransome, where is the person going to get it from?
“It is also on record that it does appear that the naira is stabilising; for those of who have tranactions with the dollar. So what needs to be done is to fine tune the policy and not to kill it.
“What the APC is trying to do is to kill the policy so they can afford to bring back these stashed funds that they want to deploy to undermine this election,” Aniagwu stated.
He commended President Buhari for reiterating his commitment to leaving a legacy of free, fair and credible elections.
As the spokesman for the PDP Presidential Campaign Council, we want to commend the President and pray that the votes of Nigerians will count.
“Those who refused to engage in town halls and debates are now looking up to their monies but with this policy, their monies are already failing them; hence, they are seeking for ways to undermine the policy.
“So we plead with all Nigerians, particularly Deltans for a little more patience in order to enjoy the good things that would come out of this policy of naira redesign.
“We therefore expect and urge the CBN to immediately comply with the directives of Mr. President in order to reduce the sufferings of our people,”
Aniagwu further said “APC leaders did not go to court, or held meetings with Mr. President on account of the fuel scarcity and insecurity in the country but rushed to the courts now because this one is touching them and they will not be able to mortgage the conscience of Nigerians.
“Do not let any politician to use you to demonstrate, while making you feel that they are fighting for you. So please do not go about destroying banks.
“The APC presidential candidate has shown a very undemocratic credentials by not allowing any other party put up billboards in Lagos state.
“We all live in Delta and we see the bill boards of all the other political parties. We allow them to campaign where ever they wish. But it is not so in Lagos. We can not allow Tinubu to make us a one party state,” Aniagwu added.
On his part, Mr Ifeajika urged the judiciary to live up to expectations, adding that some judgements emanating from certain courts were disappointing.
According to him, we need to call on the judiciary to live up to its billings. What the judiciary has been churning out as judgements lately is worrisome. The judicial officers should also remember that they are also Nigerians.
“It will interest you to know that the governors that are challenging this policy in court are all APC governors and that tells us what they are afraid of.
“The judicial officers should be careful not to allow these governors use them to achieve a very bad aim. It may interest you to know that two PDP governors, Edo and Bayelsa have joined in the suit on the side of the Federal government,” he stated.
PRESS RELEASE
SANWO-OLU DEPLOYS AIRCRAFT FOR AERIAL MAPPING OF LAGOS
Lagos State Governor, Mr. Babajide Sanwo-Olu, has deployed a Cessna 406 aircraft for aerial mapping of the state in line with the government’s determination to ascertain the actual figures of buildings and the infrastructural strength of the State.
Speaking during the inspection of the Aerial Survey Aircraft (ASA) for the 2023 Mapping and Update of the Lagos State Spatial Data Infrastructure for the eGIS Project at Dominion Hangar, Murtala Mohammed Local Airport, Ikeja, the capital of Lagos on Wednesday evening, Governor Sanwo-Olu said the aerial mapping will equally help in updating the state data.
He said the exercise will also assist the Lagos State Government to plan adequately for the residents of the State.
Governor Sanwo-Olu, who was represented by his deputy, Dr. Obafemi Hamzat, said the exercise will form part of the state’s critical component of the Enterprise, Geographic Information System (EGIS) upgrade, which is aimed at providing a digital mapping platform.
The Governor said the Cessna aircraft with the registration number ZS-SSY from South Africa, would conduct the exercise for at least four and half hours daily for about six weeks, depending on the weather, while it would also fly at 4,500ft below sea level.
He said: “The aircraft has a huge camera. When it flies it can capture a coin. It flies relatively low at about 4,000ft below sea level. The essence is for it to capture everything that is in Lagos state. It can go and come back. There are layers of flying. The essence for us is to know what is in Lagos. It has a glider that can capture water and land. It would be flying for about four and a half hours daily, depending on the weather.
“We have done it before. Lagos like any other city is dynamic. What we had five years ago is not what you have today. The international standard is to do it every five years so that you can update your database and everything. So, what it does is that you can map every inch of soil in your land, and various buildings where you have your allocations and sizes.
“The essence is to know the data of your state and what that does is to enable you to plan. What you cannot measure, you cannot manage it. So, the essence for us is to be able to measure every inch of Lagos and its size.
“For us, fortunately, the census is coming up in March. If you have all those gladder information, you can map it with your census and it determines everything. It allows you to have enormous data to plan for your citizens so that you don’t globe in the dark.”
Governor Sanwo-Olu, who disclosed that the State Government had been carrying out the exercise since 2009 but chose to migrate to a bigger aircraft for more effectiveness and enhanced performance, urged Lagos residents not to panic when they see the aircraft pass through their domains in low altitude, stressing that it is for the benefit of all.
Also speaking, the Special Adviser to the Lagos State Governor on Enterprise, Geographic Information System (EGIS), and Planning Matters, Dr. Olajide Babatunde, said the project would lead to the mapping of the state’s land, noting that after the successful mapping of the State, the government would also embark on the surveying of the land.
He said the exercise was part of the projects of the enterprise geographic information system that Lagos State was building to be able to tackle some challenges bedeviling the state at the moment.
“What we are doing now is mapping and thereafter we will do a survey. This will enable us to have our spatial data infrastructure complete.
“Currently, our land use database shows that we have over 600,000 properties in the state. However, I know we have more than that. And you know if you don’t have a title deeds plan, you cannot even go to the Lagos State Parking Authority (LASPA)for building approval,” he said.
Also speaking, Lagos State Commissioner for Science and Technology, Mr. Hakeem Fahm, said the aircraft to be used for the exercise is equipped with a special camera, which showed that the State is leveraging on the power of technology to do things accurately for the benefit of Lagos citizens.
Fahm, who said he is so excited about the aerial mapping of Lagos State, said Governor Sanwo-Olu and his deputy, Dr. Obafemi Hamzat are fully committed to make Lagos greater.
The Cessna 406 aircraft operating team had been carrying out the exercise over the years in various African countries including Mozambique, Kenya, Cameroon, Burkina Faso, Niger and Rwanda.
PRESS RELEASE
Ibadan stands still as residents welcome Tinubu’s campaign train
…APC candidate pledges massive development for Oyo State
Massive crowd on Thursday welcomed the All Progressives Congress (APC) presidential candidate Asiwaju Bola Ahmed Tinubu on a campaign tour to Ibadan, the Oyo State capital.
Huge number of residents poured out on the streets to identify with the APC presidential candidate making it difficult for the campaign motorcade to meander through the filled up streets of the city.
The Mapo Hall venue of the campaign rally and its adjoining streets bristled with excited crowd of supporters in what residents described as an unprecedented political rally.
Tinubu, who had earlier visited the Oyo State governor, Seyi Makinde, and also conferred with traditional rulers from the South West, managed to reach the campaign venue at around 6:40pm.
The presence of the candidate electrified the elated crowd which danced to campaign songs. Waving to the crowd Tinubu also danced as he moved around the podium along with the APC governorship candidate in the state, Senator Teslim Folarin, and other party leaders.
However, the wild excitement among the crowd of supporters and setting darkness did not allow for speeches.
But in his prepared speech, Tinubu promised the people of Oyo State that his administration’s agriculture policy will be of benefit to the people of Oyo State if elected.
He urged the people of the state to partner with him to quicken the pace of economic development, of job creation, of business, of industry, of prosperity and of renewed hope in Oyo and in Nigeria.
He said, “My plans for you and for Nigeria are beneficial and good. They speak of a better tomorrow of sufficient jobs, sufficient food, sufficient money and sufficient fairness and opportunity such that you will be able to realize your dearest dreams as long as you are willing to work toward them.
“Oyo will straddle the timeline between the best of our past and the greatness of our awaiting future. It will reach back into the best of our traditions to showcase our art, culture and way of life to the rest of the world.
“Our plans will benefit your industries, your farms and the very way you live. We will attract industry and jobs but also help you create industries and jobs on your own.
“We will attract even more institutions such as the International Institute for Tropical Agriculture and bring the beneficial type of foreign direct investment to join with our own meaningful investment to expand our economy and industries.”
He also added, “When elected, we will develop industrial hubs, allowing you to produce more of the goods you need while earning a living wage in doing so.
“We will invest wisely in required infrastructure. The means Oyo will be to power its factories, light your homes, preserve your food, and export the goods and services you command so that you earn better incomes and live better lives.”
Among those who were with the APC presidential candidate at the rally were Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila; Governor Dapo Abiodun of Ogun State, former governors Kayode Fayemi (Ekiti) and Adeboyega Oyetola (Osun), members of the National Assembly, among other chieftains of the party.
Tinubu Media Office
Abdulaziz Abdulaziz
February 16, 2023
Why we joined Supreme Court suit to support CBN’s currency swap policy – Edo Attorney General
As the actual party who applied to be joined in the ongoing Supreme Court currency suit, I would wish to make some clarifications.
Firstly, it is not true that the Plaintiffs in that case have suddenly become the people loving Patriots they seek to present themselves as.
The object of the suit is to create a legal opening to flood the Nation with massive quantities of old notes which have been stockpiled in anticipation of the forthcoming election.
The position of the Edo State Government is that what is required is availability of legitimate cash for our ordinary citizens. All pressure needs to be brought on the CBN and the FGN in this regard.
The Supreme Court suit as presently constituted only serves the interests of the ruling party faction which believes that huge infusions of illicit cash can aid their electoral fortunes.
We do not consider it our duty to assist these illicit interests by supporting their suit.
The reality is that as at today, most legitimate #200, #500 & #1,000 notes have been deposited.
The real problem is the availability of replacements from the banking system.
Our intervention to seek adjustments in the implementation process is already yielding fruits despite the strident cries and inflammatory rhetoric of those born-again people advocates who disguise their malevolence as concern for the masses.
That is our position which we believe is in line with the best wishes of our people.
In a few days, our position shall be vindicated.
*Oluwole Iyamu (SAN)*
_Edo State, Attorney General and Commissioner for Justice_
PRESS STATEMENT
Akeredolu Nominates Chairman, Members Of Ondo Public Complaints, Financial Crime and Anti-Corruption Commission
Ondo State Governor, Arakunrin Oluwarotimi Akeredolu,SAN, CON has nominated former Chief Judge of the State, Hon. Justice Williams Akintoroye as Chairman of the State Public Complaints, Financial Crimes and Anti-Corruption Commission.
The Governor also nominated Prof. Adewole Adeyeye; Christopher Omotayo Ogungbemi, Esq and Mrs. Funmi Osundolire as members of the commission.
Their names have been forwarded to the State House of Assembly for confirmation.
The Governor’s request is in line with the provision of Section 4(3) of the Ondo State Public Complaints, Financial Crime and Anti-Corruption Commission and Other Matters Connected Thereto 2022.
The new commission, will among other functions, checkmate sharp practices and promote probity and accountability in the conduct of government business.
The Governor enjoined the lawmakers to give timely consideration and approval to his request.
Signed:
Richard Olatunde
Chief Press Secretary to the Governor of Ondo State.
February 16, 2023.
February 16, 2023
Press Statement
Cash Crunch: Compel APC Leaders to Release Hoarded Naira Notes, PDP Tasks Buhari
The Peoples Democratic Party (PDP) urges President Muhammadu Buhari to assuage the pain and anguish being experience by Nigerians over the current cash crunch in the country by demanding that leaders of the All Progressives Congress (APC) including its Presidential Candidate and governors immediately release the hundreds of billions of new Naira notes reportedly intercepted and hoarded by them for vote buying purposes.
It is instructive to note that Mr. President in his address to the nation earlier today, acknowledged that the Naira redesign and swap policies are programmes of the APC administration which is also completely in control of the production and circulation of the new notes. It is therefore clear that the PDP has no part in the entire process.
Our Party had earlier alerted on how APC leaders allegedly sabotaged the system and diverted the new Naira notes so as to create widespread social unrest to justify their plan to derail the 2023 general elections and truncate our democracy.
The PDP had also exposed how APC governors are allegedly warehousing the new Naira notes in facilities in Lagos, Kano, Kogi, Kaduna, Imo and other States of the country for the purpose of vote buying in the Presidential election.
In the same vein, our Party raised alarm on how the Tinubu/Shettima Campaign had orchestrated the current cash crunch as a strategy to cause crisis while inciting Nigerians to insurrection with the view to truncating the electoral process having come to the reality of the fact that the APC and its Presidential Candidate, Asiwaju Bola Ahmed Tinubu have been rejected by Nigerians ahead of the polls.
Our Party sympathizes with Nigerians over the pain, torture and distress brought upon our citizens by the selfish, vicious and anti-people APC leaders. The PDP again salutes the resilience of Nigerians in the face of APC-induced suffering.
The APC and its Presidential Candidate must come to terms with the fact that Nigerians are determined to vote in the PDP Presidential Candidate, Atiku Abubakar, come February 25, 2023. The threats and incitement to violence by the Tinubu Campaign cannot deter the people.
The PDP calls on President Muhammadu Buhari to put every measure in place to guarantee peaceful, free, fair, transparent and credible 2023 general elections as Nigerians are ready to go to the polls in their determination to vote in Atiku Abubakar as the next President of our country.
Signed:
Hon. Debo Ologunagba
National Publicity Secretary
PRESIDENT BUHARI TO ATTEND 36th AU SUMMIT IN ADDIS ABABA
President Muhammadu Buhari will on Thursday depart Abuja for Addis Ababa, Ethiopia, to participate in the 36th Ordinary Session of the Assembly of the African Union (AU).
The theme of the AU Summit is ‘‘Acceleration of the African Continental Free Trade Area (AfCFTA) Implementation.’’
The President will participate in three High Level meetings on peace and security, climate change and the political situation in some West African countries.
First is the Peace and Security Council (PSC) meeting of Heads of State and Government on the situation in the Eastern Democratic Republic of Congo (AUPSC High Level AU), to be chaired by the President of South Africa, in his capacity as the Chair of the Council for the month of February.
Second is the meeting of the Committee of the Heads of State and Government on Climate Change (CAHOSCC), currently chaired by the President of Niger Republic.
On the margins of the annual meetings of the AU, President Buhari will also attend an extraordinary summit of the Authority of Heads of State and Government of ECOWAS.
The Nigerian leader will deliver remarks at these events as well as present his National Statement at the opening session of the Summit, which brings together leaders from the AU member countries as well as a number of non-AU countries and international institutions accredited to the AU in Addis Ababa.
President Buhari will be accompanied on the trip by some Ministers and other top government officials.
He will return to Abuja on Monday, February 20.
Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
February 16, 2023
SECURITY, CORRUPTION AT A STAKE WITH NEW CASH POLICY SAYS PRESIDENT BUHARI
President Muhammadu Buhari insists that the cashless policy and Naira swap by the Central Bank have short and long term benefits for the country in dealing with insecurity and corruption, but agrees that the apex bank should take the recommendation of a parliamentary Committee to rectify identified problems.
His comments came as the Central Bank Governor, Godwin Emefiele, gave him an assurance that N200 currency notes taken out of circulation will be moved back from today.
The President who spoke at the State House when he received briefing from members of the House of Representatives Ad-hoc Committee on cashless policy and Naira swap said his speech earlier in the day was comprehensive enough and was adequate as a response to the general outcry about the problems associated with the currency exchange.
He described the aim of the policy as “very good, security-wise” as seen from the lessening of kidnappings and associated corrupt practices. He again accused banks of being a problem.
The CBN Governor, as directed by the President, explained that the cashless policy was a global policy. “Nigeria must go cashless. It is a global policy, checking insecurity and fighting corruption,” he said.
He added that senior officers at the CBN had all been sent out, complimented by “Super agents,” to take new currencies to unbanked rural populations, expressing optimism that the problems he described as “temporary, passing” will go away in no distant future.
He reported that he had met 15 top banks earlier in the day in an effort to resolve prevailing problems and will do so again later in the evening, assuring that “we are at the end of the problem.”
He also gave the promise that by the end of February, CBN will bring into circulation between N700-N800 billion, well in excess of what is needed to run the economy, stating emphatically that it is not possible to put back more than Three trillion Naira if the economy is to be healthy.
Mr Emefiele gave a firm promise that the Bank will not be a problem with elections, and they will hold successfully as far as the Bank is concerned.
The leader of the Parliamentary delegation, Alhassan Ado Doguwa, the House Majority Leader and Chairman of the Ad-Hoc Committee, said the meeting with the President was necessitated by the need to bring him up to date on the “problems of implementation and unintended consequences” of the new cash policy.
In acknowledging the far-reaching quality of the President’s broadcast to the nation earlier today, the House Leader said the Legislature and the Government were on the same page in so far as the goals of the policy were concerned. He added, however, that more needed to be done to remove the “hardship and inconveniences” that have attended its implementation.
Garba Shehu
Senior Special Assistant to the President
(Media and Publicity)
February 16, 2023
PRESIDENT BUHARI SAYS WOMEN, GIRLS REMAIN INTEGRAL TO DEVELOPMENT, LAUNCHES HIGH-LEVEL ADVISORY COUNCIL ON SUPPORT
President Muhammadu Buhari Thursday in Abuja launched the High-Level Advisory Council on Support for Women and Girls, calling for upscaling of efforts for more inclusion of women in development policies and projects.
At the launch of Advisory Council, Adolescent Girls’ Initiative for Learning and Empowerment Project and National Women’s Economic Empowerment Policy Dialogue, the President said the three initiatives will target reduction of poverty, and building of a sustainable economy.
“This is what we promised to all Nigerians – including our women and girls when our party, the All Progressives Congress (APC), was elected in 2015. I am proud to say that our government has delivered over the past eight years.
“The well-being of women and girls remain a pivotal indicator of how well any Nation is doing in driving her developmental plans. I am proud of the tremendous progress that has been made to emphasize the needs of Nigerian women and girls into national economic planning, policy development, public programming, and public financial management.
“While there has been progress, we are not unmindful of the gaps associated with harnessing the available resources of government, the innovation and efficiency of the private sector, and the technical expertise of our social and development sector partners to drive women’s and girls’ empowerment outcomes,’’ he said.
The President noted that coordination had remained a key gap in the efforts to improve livelihoods and democratize opportunities for women and girls.
“It is expected that the High-Level Advisory Council on Nigeria’s Support for Women and Girls, which I am very proud to inaugurate today therefore comes as an answered prayer to bridge this identified gap.
“As this Council takes off, I want to charge it with the mandate to drive all round collaboration and action towards achieving the Sustainable Development Goal 5: Gender Equality between now and 2030,’’ the President added.
President Buhari commended the Minister of Women’s Affairs, the Minister of Finance, Budget, and National Planning and Minister of Education for exemplifying collaboration and innovation in service delivery.
“I also want to thank our private and social sector partners, especially the Council’s private sector Co-Chairs for being willing to join us on this journey to improve the lives of Nigerian women and girls.
“I want to charge the HLAC to initially focus on driving women’s economic empowerment, especially in the areas of economic access, sustainable livelihoods, and education; including second chance education for women and girls. I will also encourage deeper engagement and deliberate focus on sustaining the Council’s inaugural priority initiatives, which include:
“The National Policy Dialogue on Women’s Economic Empowerment which is a robust programme aimed at leveraging on diverse approaches and perspectives across the Federation to redefine our implementation of women’s economic empowerment programmes.
“I am proud that over the course of the Dialogue, in engagements stretching from Kebbi to Lagos, the Government of Nigeria has engaged the perspectives of over 100,000 Nigerians – including grassroots women, government actors, captains of industries, traditional rulers, religious leaders, technology-entrepreneurs to understand what works to drive women’s economic empowerment in Nigeria,’’ he stated.
The President expressed confidence that the Policy Dialogue will culminate in the launch of a transformative National Policy on Women’s Economic Empowerment which will be held in April, 2023.
“Secondly, the Adolescent Girls Initiative for Learning and Empowerment Program – a multi-sectoral project that provides a comprehensive support for the education and empowerment of more than 20 million young girls and women.
“This project delivers on a promise I made at the beginning of this administration, to uphold Article 18(1) of the Constitution of the Federal Republic of Nigeria that aims to ensure “… equal and adequate educational opportunities at all levels” by strengthening our educational institutions and facilities and promoting world class teaching, learning, research and community service.
“Thirdly, the Nigeria for Women Project Scale- Up which builds on the success of the first phase to provide greater opportunities for more women; especially in the rural areas. In Phase One of the Project, Nigerian women across the six pilot states saved over 3.1 billion naira and received almost 10 billion naira in disbursements to support their livelihoods.
“I am proud that a lasting legacy of this administration is that the Project will be scaled from six to at least seventeen states, and that up to 3.9 million women will benefit from the multidimensional aspects of the program,’’ he added.
President Buhari noted that there can be no true national development without the empowerment of women and girls, urging all stakeholders to redouble efforts in the push for gender equity and equality.
“I thank our development partners for their consistent support and hope that they will continue to support our drive for development across diverse sectors of the Nigerian economy.
“I assure you all that I will continue to do everything in my power, while I remain your President, to support the education and economic empowerment of girls in Nigeria,’’ he said.
In her welcome address, Minister of Women Affairs, Dame Pauline Tallen noted that the inauguration is evidence of President Buhari’s commitment to the empowerment of women and girls in Nigeria, adding that the President had in December 2022, approved the formation of a Presidential High Level Advisory Council on women’s support to women in Nigeria.
According to her, the Council will provide strategic guidance, oversight, policy and support to the government – led gender equality initiatives as well as advice Nigeria’s financial and technical partners on critical areas of support for women and girls in Nigeria.
There were goodwill messages from HRH. Alh. Dr. Shehu Chindo Yamusa III, Emir of Keffi, Her Excellency, Catriona Wendy, British Ambassador to Nigeria, as well as Jeremie Zoungrana, Country Director, Bill Gates Foundation, among others.
Femi Adesina
Special Adviser to the President
(Media & Publicity)
February 16, 2023
Malam Nasir El-Rufai fights Buhari
- Says policy conceived and sold to the President by officials who completely lost out in the Gubernatorial and Presidential Primaries of the APC in June 2022
- Insists currency redesign policy conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest
It is now clear that the President has been deceived by the Central Bank of Nigeria and some elements in his government into buying into this overarching narrative, in the name of ensuring free and fair elections in 2023
KADUNA UPDATE: Let us stand up strongly for democracy, peace and national unity
State Broadcast by Malam Nasir El-Rufai, Governor of Kaduna State, 16th February 2023.
My dear people of Kaduna State,
- With just about 100 days before leaving office, and elections just round the corner, it was my intention to host another media chat to interact with the people of our state in the next few days. While I still hope to do so, I feel the need to address you all today due to the unprecedentedly cruel situation our people and their livelihoods have been thrown into, particularly in the last two to three weeks by the decisions, actions and inactions of the Federal Government of Nigeria.
- On behalf of the government of Kaduna State, I wish to express my deepest regret at the needless suffering you are enduring as a result of the prolonged fuel shortage and the difficulties occasioned by the so-called “currency redesign” policy of the Central Bank of Nigeria. We understand your pain. I assure you that as your State Governor, I have been working with my other colleagues to do everything in our power to end these pains.
- While publicly supporting what appeared to be a beneficial policy, we innocently engaged privately with the President and the leadership of the Central Bank of Nigeria to review the implementation of the policy so as to reduce its negative impact on the lives and livelihoods of our people, and end the pain being inflicted on citizens. In the absence of any progress to modify implementation on the part of the architects, we were forced to go public about two weeks ago, with our concerns and demand that this suffering must stop.
- We take seriously our duty to protect ordinary people from the consequences of these policy fiascos. The sad fact is that the victims of these mindless policies are the people that elected us. It is their welfare that is being threatened. Many of our people have been left in a situation where the money they put in banks has literally been confiscated, depriving them of the ability to buy food and basic necessities. Our traders cannot sell as much as they used to because their customers have no access to their hard-earned money.
- We have been officially informed that the currency redesign policy is to reduce money laundering and render useless stashes of high denomination Naira that many politicians and public officers have accumulated through corruption and other illicit activities. As earlier stated, we are fully in support of such a policy and we made this public from the beginning.
- We had privately expressed concerns about the timing of the currency design policy and the unrealistic timeline for its implementation. We were assured that all steps have been taken to ensure that we avoid the recent experience of India, where implementation of a similar demonetisation policy targeted at politicians ended up hurting the poorest and small businesses the most.
- In official briefings to the President, the Central Bank of Nigeria constantly alluded to the fact that the policy also targets politicians who have accumulated a huge war chest for vote buying during the elections. It is now clear that the President has been deceived by the Central Bank of Nigeria and some elements in his government into buying into this overarching narrative, in the name of ensuring free and fair elections in 2023.
- It is important for the people of Kaduna State, and indeed Nigeria, to know that contrary to the public pronouncements and apparent good intentions, this policy was conceived and sold to the President by officials who completely lost out in the Gubernatorial and Presidential Primaries of the APC in June 2022.
- Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest. They also sought to achieve any one or more of following objectives:
- Create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections;
- Ensure that the cash crunch is so serious, along with the contrived and enduring fuel shortage existing since September 2022, that the 2023 Elections do not hold at all, leading to an Interim National Government to be led by a retired Army General;
- Sustain the climate of shortage of fuel, food and other necessities, leading to mass protests, violence and breakdown of law and order that would provide a fertile foundation for a military take-over;
- In the pursuit of these objectives, the Central Bank of Nigeria and these other disgruntled Federal officials have so far convinced the President that it is fine for ordinary citizens to be dispossessed of their hard-earned money, and starved if need be, while small and medium-sized businesses are deprived of access to their capital, thereby bringing trade and exchange to a grinding halt. All our efforts to modify implementation of the policy to avoid what we assumed were unintended consequences were unsuccessful. I chose to speak out first as one person that has been particularly close to the President, believing that his actions were motivated by innocence, and mindful of his legacy. I have no regrets for doing my duty in this regard. One day, the President will appreciate what some of us are being insulted for today.
- Yet, the politicians that the officials have convinced the President to regard as the real targets of the currency redesign policy have not been impeded in any way by it so far. Indeed, two of the presidential candidates, and a running mate of the opposition parties own or have preferred access to some of the licensed banks. For that reason and by various clandestine arrangements, these politicians have access to hundreds of millions of these new notes, while the traders, merchants, students and other citizens are queuing for days to withdraw a few thousand Naira just to buy food and necessaries.
- Within two to three weeks of implementation, it was clear to everyone that the architects of this policy can see that it is our people that are being terribly affected, and not the politicians. It is quite unfortunate that many politicians who either own banks or have privileged access to money are so insulated from the pains of talakawa that they are recklessly endorsing a policy that is being badly implemented.
- I am referring here to the comments by the candidate of one of the opposition parties who expressed opposition to the recommendation first of the APC state governors, and subsequently of all the governors under the auspices of the Nigeria Governors Forum that the implementation timeline be extended, to enable the old and new notes to be legal tender side by side until the cash shortage ends.
- My dear people of Kaduna State. Let me explain how the architects of this policy intentionally designed it to fail. The total currency in circulation in Nigeria was estimated at N3.2 trillion at the end of 2022. According to the Central Bank of Nigeria, N2.1 trillion has been withdrawn as at early February. The CBN claimed that N700bn is the amount of cash needed for their functioning vision of a “cash-less” Nigerian economy. The Chief Economic Adviser to the President, Dr. Doyin Salami disagrees with this estimate, and believes at least N2 trillion of currency needs to be in circulation for our economic sustainability. Other experts variously estimate this to be between N1.2 trillion and above, so the CBN number of N700bn is not realistic.
- The CBN informed the President at the very beginning that the Mint (NSPMC) has enough capacity to print the needed currency in circulation within the 6-week timeframe for the so-called ‘cash swap’. By its own admission, only N400bn worth of new notes had been printed for CBN as at early February.The current cash shortage was therefore designed from the beginning, the President was lied to about the domestic capacity of the Mint to print, and even if the announced N700bn was printed, it would have been grossly inadequate anyway. Imagine then printing only N400bn, and making most of it unavailable to the banks but passed to favoured entities through special arrangements. How can the CBN collect N2.1 trillion from citizens and print only N400bn? Is this not a clear case of economic sabotage?
- It is bad economics to so curtail economic activity and the velocity of circulation of money. It is also insensitive to deliberately cause cash shortage and then seek to instigate the public against the mostly innocent commercial banks. Even the most honest and prudent action by banks cannot magically make N400bn to look like N2.1 trillion, or have the same spread and availability like the CBN should have ensured. As a regulator, the CBN should not be seen to be setting up the banking sector as the public enemy to cover up the glaring failure in its design and implementation of the cash swap policy.
- We have repeatedly appealed to the Federal Government to allow whatever remains of the old notes to circulate concurrently with the new notes. We recommended that the Federal Government should also hasten to ensure that more of the new notes are printed and brought into circulation. We thought that if the Nigerian Mint is incapable of printing the volume of cash needed as it appears, then necessary steps must urgently be taken to get a reliable supply source.
- There is no reason why the old notes and the new notes should not coexist until the old notes are gradually withdrawn over the years as is done in the United Kingdom, Saudi Arabia and other countries. It is unfortunate that in implementing this policy, Nigeria is departing from global best practise, without any compelling justification. The Kaduna State Government did all these, not in opposition to any person or authority, but because we stand with our people and their interests.
- When it was clear that our recommendations will not be seriously considered, the Kaduna State Government decided, along with the governments of Kogi and Zamfara States to declare a dispute with the Federal Government. In line with the provisions of the Constitution, we approached the Supreme Court of Nigeria to invoke its original jurisdiction to hear us and the cries of our people. The Court did on February 8th, and ordered that the deadline of February 10th for all the ‘old’ notes ceasing to be legal tender be rescinded until the determination of the suit. This ruling applies to the Federal Government and its agencies like the CBN, and all commercial banks! We are grateful to the Court for this ruling, and we had hoped that compliance by the CBN and the banks would bring relief to our people. It is now clear that the architects of this policy are determined to continue to inflict maximum pain on the citizens to achieve their objectives outlined earlier.
- It was our hope that the Federal Government of Nigeria would welcome this injunction as an opportunity to mitigate the needless human suffering being experienced and correct its course on this matter. There is no emergency situation that justifies the rushed and seemingly deliberate incompetent execution of this policy. We suggested that compliance with the ruling would include adopting a whole-of-government approach, that involves the agencies of the federal and state governments in modifying the design, execution the implementation of the currency redesign policy.
- Even when confronted with the facts above, the CBN and its masters remain determined to implement their agenda no matter how much human suffering, death and destruction results. It is clear that the architects of this policy always had objectives that are totally in conflict with public interest, peace and the unity of Nigeria. They neither considered our suggestions in line with the Court order, nor respected the unanimous resolution of the Council of State.
- It is also quite revealing that the Federal Government and its agencies not only disobeyed the February 8th ruling by continuing to say the February 10th deadline stands. It is shocking to see the blatant violation of the subsisting and continuing order of the Supreme Court that ALL the old and new notes should continue to be legal tender until it gives judgment in the case filed by the Kaduna State Government along with several others.
- The address by the President earlier this morning limiting the legal tender status of old notes to only N200 amounts to total disregard and disobedience of the ruling of February 8th which was extended further yesterday by the Supreme Court. The misguided action of the Attorney-General to mislead the President into engaging in this public violation of the order of the highest court of the land shows how desperate the policy architects are to cause national chaos, by showing open contempt for the judiciary.
- The decision to recognise only N200 as legal tender till April that the President announced this morning was offered to the state governments as part of proposals for an out-of-court settlement three days ago. The Federal Government asserted that this was offered because all the ‘old’ N1,000 and N500 notes had been destroyed. We rejected the offer and proved to the officials that not a single higher denomination note had been destroyed. We also believe that circulating N200 only to be inadequate in alleviating the suffering that we see every day. We insisted that all the components of the Supreme Court order should be complied with.
- But back home, what do we do in Kaduna State? My dear of people of Kaduna State, with the foregoing revelations, it is clear that our peaceful coexistence as a state, and a nation, is being placed under deliberate danger using the intentional combination of fuel and cash supply disruptions. These evil people using the instrumentality of the Federal Government and the President as convenient covers are willing to truncate our democracy because they have personally lost out. They are massively deploying resources and tools to defeat the political party that gave us the platform to serve the country just because they could not impose the candidates of their choice. Let us not help them
- Let us stay calm and peaceful, and support the lawful means being utilised to solve our problems. On behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes. Let no artificial and illegal deadline frighten you. Whether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them. Continue to use them as legal tender as ordered by the Supreme Court of Nigeria. No deadline can render them worthless, ever. The law is on your side. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act, both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.
- Therefore, as your governor, I wish to assure you that the Kaduna State Government, in collaboration with elected legislators, traditional institution, elected local government councils, markets, and traders associations will help you collect, record, document, collate and deliver all your old notes to the Kaduna branch of the Central Bank on your behalf into the new ones immediately after the elections. We will also ensure the delivery of your new notes to your various locations without any hardship or expense on your part. We shall save you any panic and the stress of a long journey from your community to the CBN office in our state capital, from March until December 2023 if need be.
- For the avoidance of doubt, all the old and new notes shall remain in use as legal tender in Kaduna State until the Supreme Court of Nigeria decides otherwise. I therefore appeal to all residents of Kaduna State to continue to use the old and new notes side by side without any fear. The Kaduna State Government and its agencies shall seal any facility that refuses to accept the old notes as legal tender and prosecute the owners. If need be, we shall take further consequential actions according to the law.
- While urging you all not to fall for these antics of the enemies of Nigeria, please be patient and continue to exercise resilience in the face of open provocation and deliberate disinformation. We encourage you to be ready with your PVC to vote in the February 25 Presidential and National Assembly elections. We are doing all we can to ensure that it is peaceful, orderly and hitch-free. I appeal to you to understand the shenanigans of these unpatriotic elements in Abuja and ensure you vote massively for the intended victims of these last-minute policies of needless hardship and incitement of the citizens – our party, the APC and its candidates in all the elections.
- The Kaduna State Government is making this appeal, and taking all these measures to shield our people from the terrible consequences of the currency redesign policy. We seek to protect our people’s hard-earned money, their ability to engage in trade and exchange and buy what they need. We also seek to protect their civic rights, liberties and freedoms under a democratic dispensation. I call on the people of Kaduna State to remain peaceful and vigilant in the face of brazen attempts to engineer crisis in order to get a pretext for unconstitutional or undemocratic actions.
- In conclusion, our Presidential Candidate, Asiwaju Bola Ahmed Tinubu has asked me to convey his greetings, empathy and words of encouragement to the good people of Kaduna State. He urges us to remain patient, pray for our country and remain vigilant in our pursuit of Renewed Hope.
Thank you all for listening. God Bless Kaduna State. God Bless the Federal Republic of Nigeria.
Nasir Ahmad El-Rufai, CON
Kaduna, 16th February 2023
Excerpts from Malam Nasir El-Rufai’s broadcast, 16 February 2023:
“Let us stay calm and peaceful, and support the lawful means being utilised to solve our problems.
On behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes.
Let no artificial and illegal deadline frighten you.
Whether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them. Continue to use them as legal tender as ordered by the Supreme Court of Nigeria.
No deadline can render them worthless, ever.
The law is on your side. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act, both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.
“Therefore, as your governor, I wish to assure you that the Kaduna State Government, in collaboration with elected legislators, traditional institution, elected local government councils, markets, and traders associations will help you collect, record, document, collate and deliver all your old notes to the Kaduna branch of the Central Bank on your behalf into the new ones immediately after the elections.”
