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Reps Direct CBN to Start Gradual Withdrawal of Old Naira Notes Before December Deadline

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….urge CBN to commence sensitization of citizens
By Gloria Ikibah
The House of Representatives has directed the Central Bank of Nigeria (CBN) to issue more new N200, N500 and N1,000 notes and also commence the gradual withdrawal of the old notes from circulation before the deadline of December 31, 2024.
The House called on CBN to order commercial banks to forthwith stop cash payment to their customers with old N200, N500 and N1,000 notes but rather, engage in a gradual mop-up of the old notes.
The House further urged the CBN to kick-start awareness programmes for Nigerians to be aware and prepare for the deadline of December 31, 2024.
Naijablitznews.com recalled that the Spreme Court, in March 2023, ruled that the old Naira denominations of N200, N500 and N1,000 notes continue to co-exist with the new notes till further notice.
The court also maintained that the old and new notes should remain as legal tender beyond December 31, 2023, until the Federal Government puts a process in place for their replacement or redesign after due consultation with relevant stakeholders.
However, the CBN, had on November 14, extended the validity of the old N200, N500 and N1,000 notes indefinitely.
These resolutions was sequel to the adoption of a motion of urgent national importance  moved by Rep Afam Ogene on the “The Need For Central Bank of Nigeria To Sensitise Nigerians About The Non-Legal Tender Status of Old Naira Nites From January 2025, on Thursday at plenary.
Debating the motion, Rep. Ogene expressed concerns that the Central Bank of Nigeria (CBN) has not shown any sign of sensitization or kick-started any awareness programme to remind Nigerians about the important economic policy in order to make them prepare for the deadline of 31/12/2024.
He expressed concern that Nigerians will be plunged into more chaotic situations than what happened in February, 2023, when the old N200, N500 and N1,000 notes shall cease to be legal tender and medium of exchange for goods and services as from January 1, 2025.
He said: ” recall the hardship, frustration, controversy and chaotic situation occasioned by the Central Bank of Nigeria (CBN) change of currency in 2023, that affected validity of the old N200, N500 and N1,000 Naira not.s at the time that resulted in litigations;
“The current scarcity that led to untold hardship in the nation as a result of the CBN’s inability to supply new versions of the changed currency notes;
“Going by the Supreme Court’s subsequent ruling and order, the N200, N500 and N1,000 notes shall cease to be legal tender, medium of exchange for goods and services in Nigeria, and shall also cease to be in circulation as from January 1, 2025.
“The Central Bank of Nigeria (CBN) ought to have started public awareness, such as Jingles, Television and Radio announcements, Social Media postings, Flyers, Daily Newspapers and Periodic Magazines publications three (3) months before the deadline but now with about two (2) months to the deadline, yet nothing to show that the apex bank is prepared for the exercise;
“The Central Bank of Nigeria (CBN) is still comfortably releasing the old N200, N500 and N1,000 notes mixed with the new N200, N500 and N1,000 notes for business transactions in Nigeria, instead of the gradual mopping up of the old notes from circulation or ordering commercial banks to do so by issuing out only the new notes.
The House adopted the motion and mandated its Committee on Banking Regulations to ensure compliance and report back within 21 days for further legislative actions.
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Cabinet Reshuffle: Why Tinubu Was Silent Over Sack Of Betta Edu – Presidency

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By Kayode Sanni-Arewa

The presidency has dismissed the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, from its cabinet.

The Senior Special Assistant to President Bola Tinubu on Media and Publicity, Temitope Ajayi, confirmed the development in an interview with SaharaReporters on Thursday.

Recall that Edu was suspended in January 2024 over the alleged diversion of more than N585 million in public funds into a personal bank account.

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Tinubu also asked the Economic and Financial Crimes Commission (EFCC) to thoroughly investigate all the ministry’s financial transactions.

The investigation extended to the entire framework of Nigeria’s social investment programmes.

However, Edu has denied any wrongdoing.

Tinubu, in the list of new ministers released on Wednesday, replaced Betta Edu with a former gubernatorial candidate on the platform of the All Progressives Congress (APC), Dr Nentawe Yilwatda.

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However, Tinubu was silent about the replacement as Edu’s name was not among the list of sacked ministers.

Speaking on why Betta Edu was not listed along with the names of other ministers dismissed by President Tinubu, as announced by the Presidency on Wednesday, Ajayi said, “Since the President did not bring her back, it is as clear as it is.

“If she’s not coming back to the cabinet, it means she’s not part of it, especially if you didn’t see her name in the reshuffled cabinet yesterday.

The President has the power to hire and fire, to appoint and reappoint whoever he wants to reappoint. If her name is not there, that means she’s not there. I don’t think there is anything to argue about.”

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APC Leaders in Anambra demand explanation over Bianca’s appointment

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By Kayode Sanni-Arewa

Leaders of the All Progressives Congress (APC) in Anambra State have condemned the appointment of Bianca Ojukwu as a minister-designate, calling it an anti-party action.

They questioned the rationale behind President Bola Tinubu’s decision to appoint Bianca, a member of the Board of Trustees of the All Progressive Grand Alliance (APGA), without consulting APC party members.

During an emergency meeting of party stakeholders in Awka on Thursday, October 24, the APC leaders described the appointment as a gross violation of party loyalty that undermines the morale of their members.

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High Chief Bunty Onuigbo, the South East Zonal Secretary of APC and a member of the APC Elders Forum in Anambra, who spoke on behalf of the stakeholders, said: “This is nothing but an act of anti-party, and it is detrimental. By empowering members of other political parties at the expense of the APC in Anambra State, Mr President is not supporting party loyalty,” he stated.

Onuigbo further questioned the implications of the appointment, asking, “Does Mr President want a mass defection of APC members in Anambra to the All Progressives Grand Alliance (APGA)? Is he indirectly working for APGA in Anambra State?”

He expressed that the situation is both “unheard of and highly demoralising,” lamenting that the leadership in Abuja seems to be enhancing the fortunes of rival parties at the expense of the APC

Of the seven ministers appointed on Wednesday, October 23, Bianca Ojukwu’s appointment has been the most talked about, with Nigerians across various social media accounts debating this move by the president.

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Finally Obasanjo Opens Up On Third Term Ambition, Exposes Actual Sponsors

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By Kayode Sanni-Arewa

Ex- President Olusegun Obasanjo has finally broken his silence on the long-standing controversy surrounding his alleged third-term ambition.

The former President made the disclosure in an interview on News Central which aired on Thursday.

In the interview, Obasanjo denied ever nursing such ambitions, contrary to claims by his former vice president, Atiku Abubakar, and ex-Senate President Ken Nnamani.

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Obasanjo stated that if he had wanted a third term, he would have gotten it. He attributed the rumours to some governors who were secretly working towards extending their own terms in office. These governors believed that if Obasanjo secured a third term, they would also benefit from an extended tenure.

His words: “If I had wanted a third term, I would have gotten it. I didn’t want a third term. I know some governors working for this, believing that if I, as president, got a third, they would also get it.”

Obasanjo revealed that getting debt relief for Nigeria was a far more challenging task than securing a third term. He proudly noted that his administration successfully obtained debt relief for the country, a feat that required diplomatic efforts with countries like France, England, Japan, and the United States.

Atiku Abubakar and Ken Nnamani have both claimed to have played instrumental roles in toppling Obasanjo’s alleged third-term bid.

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Ahead of the 2023 presidential election, Atiku claimed that his connections within the National Assembly enabled him to block Obasanjo’s third-term agenda.

Obasanjo and Atiku served as Nigeria’s president and vice president from 1999 to 2007. However, their relationship went sour when Obasanjo chose not to support Atiku as his successor.

Meanwhile, Nnamani, stated that he had to give up his senatorial ambition to ensure Obasanjo’s third-term bid was defeated. He alleged that lawmakers were offered promises and cash incentives, but he remained committed to preventing the agenda, which ultimately led to his failure to secure re-election in 2007.

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