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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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Breaking: Governor Ahmed Usman Ododo Signs N582.4 Billion 2025 Budget into Law

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Kogi State Governor, His Excellency Alh. Ahmed Usman Ododo, has signed the 2025 appropriation bill into law today December 30, 2024 at the Glass House, Government House, Lokoja. This significant move paves the way for the implementation of the state’s budget, which aims to stimulate job creation, infrastructure development, food security, and staff welfare.

The 2025 budget estimates, totaling N582,404,119.489, represent a 43.34% increase from the revised 2024 budget of N406,321,130,013. The budget is expected to address key sectors such as education, healthcare, infrastructure, agriculture, and economic development.

While presenting the Appropriation Bill for the Governor’s accent, the Speaker Kogi State House of Assembly, RT Hon Aliyu Umar appealed to the Governor to spread the “Budget of inclusivity” to all the state constituencies for an enhanced development.

By signing the appropriation bill into law, Governor Ododo has demonstrated his commitment to shaping the financial future of Kogi State. The move is expected to have a positive impact on the state’s economy and the lives of its citizens.

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SAD! One Killed, 3 Injured In Bloody Delta Community Chieftaincy Title Procession

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A violent clash arising from chieftaincy title conferment on an indigene of Aboh, headquarters of Ndokwa East Local Government Area, Delta State, has left one person dead and three others sustaining varying degrees of injuries in the community.

The bloody clash that was between members of opposing factions in the community, occurred during the chieftaincy title procession, causing pandemonium in the area.

Though the circumstances surrounding the clash could not be ascertained at the time of filing this report, sources said it may not be unconnected with some disagreements that preceded the event.

The development has generated tension in the area with the Chairman of Ndokwa East Local Government Area, Mr. Vincent Osilonya imposing a 7.pm to 6.am curfew in the community.

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Confirming the incident yesterday, Police Public Relations Officer of the State Police Command, Mr. Bright Edafe said the deceased died in a hospital where he was taken for treatment.

Edafe said: “It was as a result of two factions that they have in the community.

“Somebody was given a chieftaincy title and part of the protocol was that once you are given the title, you will dance around the community.

“When he was dancing, he now danced to the faction of the group that was not on his side, so they attacked him.

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“He that was dancing also carried some hunters who were escorting him. When they attacked him, the hunters retaliated.”

Similarly, a dependable source in the community, said those opposed to the chieftaincy title conferment had tried to stop the procession when they clashed with the hunters.

“In the process, shooting started; one person died and three other persons sustained various degrees of injuries and were taken to hospital for treatment”, the source who craved anonymity, said.

Reacting to the development, the council Chairman, Vincent Osilonya said: “the position is that we have imposed curfew in Aboh from 7.pm to 6.am while we are are speaking with them to sheath their swords.Nobody should take laws into their hands.”

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He confirmed that three persons sustained injuries during the incident.
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Constitutional breach : Rivers Gov Fubara, Again Presents 2025 Budget To 4-Member House Of Assembly

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The governor of Rivers state, Siminalayi Fubara, has continued to progress in error as he presented the 2025 budget proposal to the Victor Oko-Jumbo-led four -man Rivers House of Assembly.

Fubara presented the N1.1trillion appropriation bill to the house on Monday.

The four members led by the Speaker, Oko-Jumbo, had earlier read Governor Fubara’s letter requesting permission to present the appropriation bill on Monday, at their plenary.

This marks Fubara’s second budget presentation since assuming office.

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Fubara had presented the 2024 state appropriation bill of N800 billion in 2023 to a four-man House of Assembly led by factional Speaker, Edison Ehie.

The presentation occurred while Rivers citizens and residents grappled with the news of the sudden demolition of parts of the state House of Assembly complex.

This followed the defection of 27 Assembly members, including then-Speaker Martin Amaewhule, from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).

Amid legal battles and political intervention, including input from President Bola Tinubu, Ehie eventually resigned from the Assembly and was subsequently appointed the Chief of Staff to the Government House.

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The crisis deepened as the three remaining members of the House after Ehie’s exit maintained their legitimacy, citing Section 109 of the 1999 Constitution (as amended), which they argued is self-executing in cases of defection without a crisis in the parent party.

The trio, consisting of Oko-Jumbo (Bonny Constituency as, Speaker), Adolphus Timothy (Opobo/Nkoro Constituency as Deputy Speaker), and Sokari Goodboy (Ahoada West as Leader of the House), assumed the Assembly’s leadership.

They have consistently carried out legislative functions, often in alignment with the Fubara-led administration.

Meanwhile, the 27 defected members have since reversed their decision and continue to attend functions as PDP members and hold sessions under Martin Amaewhule’s leadership, frequently opposing the government’s policies.

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As part of the twist in Rivers State’s ongoing political and legislative crisis, both the Federal High Court and the Appeal Court nullified the N800billion 2024 Appropriation Bill of the state, halting its implementation.

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