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Rowdy Session In Senate On Naira redesign debate

CBN, Emefiele
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By Gloria Ikibah

The Upper legislative chamber witnessed a rowdy session on Wednesday at plenary as the Senate discussed a motion on the Naira Redesign Policy of the Central Bank of Nigeria (CBN), sponsored by the Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani.

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In the prayers to his motion, the Lawmaker urged the Senate to provide legislative support for the policy, and that the committee be mandated to embark on aggressive oversight on the matter.

He further urged the Senate to support the CBN redesign policy, including the 31st January deadline for compliance.

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Senators Ali Ndume, Abiodun Olujimi, Betty Apiafi, Barau Jibrin, Chukwuka Utazi and Orji Kalu supported the policy but suggested the extension of the deadline for compliance.

Kalu specifically wanted the Senate to invite the CBN Governor, Mr Godwin Emefiele to shed more light on the policy, praying that he should be persuaded to extend the deadline to 30th April next year.

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But Senator Gabriel Suswam disagreed with Kalu and others, claiming that the CBN governor had always shunned the Senate invitations.

He urged his colleagues to ignore the CBN policy and let the country damn the consequences.

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In his submission, Senator Bassey Akpan stressed the importance of supporting the CBN governor, and that there was no need to discuss the matter.

Suswam and Akpan’s submissions did not go down well with those seeking the extension to the deadline, which led to a rowdy session at plenary.

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It took the persistent appeals by the presiding officer and Deputy Senate President, Senator Ovie Omo-Agege, to bring calm to the floor after 10 minutes of intense arguments.

Ndume had earlier said there were only five banks in the 27 local government areas of Borno State since the insurgency started in the state.

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Olujimi also said one-and-a-half month was too short to withdraw all the money in circulation to avoid shutting down the economy.

She said that the Senate should invite the CBN governor for further explanation on the issue.

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Senator Apiafi also said that rural banking had been shut down, hence the January deadline should be extended, even as she disagreed that counterfeiting was enough reason to change the Naira notes.

She added that the implications of the redesign should be criticality examined given that bandits had said they would be collecting ransom in foreign currencies if the Naira notes were redesigned.

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Senator Jibrin said that the Naira redesign could not halt terrorism but could only reduce it.

Also Senator Utazi said that, because of the rural nature of the country, the Senate leadership should interface with the CBN governor to explain the implications on the peculiarity of the country, adding that the CBN should visit all the rural communities to get first-hand information.

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While Senator Kalu suggested the extension of the deadline from 31st January to 30th April, and that the Committee on Banking and Finance should meet with the CBN governor on the matter.

Omo-Agege said that it was the prerogative of the CBN to redesign the Naira and put deadline for compliance.

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After the rowdy session, the Senate offered to provide legislative support for the policy.

It also mandated the Senate Committee on Banking and Financial Institutions to go on oversight to ensure that Nigerians were adequately protected from the CBN, banks and other agencies involved in the process.

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Photos/Video: LASU class of 2004, Anthony Campus re-union anniversary

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The class of 2004, Public Administration of the Lagos State University (LASU) Anthony Campus re-union second anniversary get together on Saturday.

Old classmates had a lot share and had time to dance and celebrate old times.

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See/watch video below:


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Finally, after terrorists attack, NRC to resume Abuja-Kaduna rail operations on Monday

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Finally, the Nigeria Railway Corporation (NRC) will resume the Abuja-Kaduna passenger train service on Monday, with only two return services after the terrorists attack.

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Naijablitznews.com reports this was contained in a statement issued and signed by the Managing Director of the NRC, Fidet Okhiria.

The statement shows the first train will depart Rigasa train station in Kaduna state to Abuja by 8:00 in the morning while from Abuja, the first train will depart Idu train station to Kaduna state by 9:45 in the morning.

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The NRC management also revealed that as part of the new security measures, it is now mandatory for passengers to present their National Identity Number and valid Boarding Ticket before they will be allowed to board.

It also says the purchase of tickets by proxy is only limited to minors and a specified number of adult passengers.

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Online and mobile app ticketing will be available from 8:00 in the morning on Sunday, December the 4th, 2022 while the ticket offices at the train stations will open from 6:30 in the morning on Monday, December the 5th.

Recall that the NRC suspended train service along the route after Boko Haram terrorists attacked a moving passenger train in Kaduna on March 28, 2022.

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The insurgents had blown up the rail track and bombed the moving train, killing some and abducting more than 60 passengers. The unprecedented attack attracted international and national outrage.

The terrorists, who attacked the Kaduna-bound train released hostages in tranches with the last release coming on October 5, 2022.

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Before the hostages were completely released, distraught family members had protested several times to demand the release of their loved ones.

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Peter Obi Attends Gospel Musical Concert ‘The Experience’ In Lagos+Photo

Peter Obi
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The presidential candidate of the Labour Party, Peter Obi, on Friday, attended the annual gospel musical concert organised by House On The Rock church in Lagos.

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Upon his introduction, Obi was welcomed with cheers from the crowd.

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