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Scarcity of Naira Notes May Disrupt General Elections, INEC Warns

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The Chairman of the Independent National Electoral Commission (INEC), Mahmood Yakubu, has warned that the scarcity of the new naira notes may disrupt the general elections, which is just 16 days away. Yakubu made the remarks during a meeting with the Central Bank Governor, Godwin Emefiele at the CBN headquarters, Abuja, on Tuesday.

He explained that many service providers to INEC had no bank accounts.

He, therefore, solicited the support of the apex bank to address the concern related to the CBN cash withdrawal policy which had caused chaos across the country.

The apex bank had last year pegged weekly cash withdrawal limits set for individuals and corporate organisations to N500,000 and N5 million, respectively.

It also introduced the currency redesign policy which involves the issuance of new N1000, N500 and N200 notes last December.

But explaining his concern to the CBN chief, Yakubu said the service providers needed to be paid fully or partly, adding that there were fears about the withdrawal limits.

He said, “The Nigerian election is a huge and complex one. It requires the engagement of critical services and in line with the provisions of the exchange laws and regulations, service providers are generally paid by means of electronic transfer to their accounts.

‘’However, there are crucial areas such as transportation and human support services that have to be immediately enumerated, either partially or in full because services are rendered.

“In addition, emergency situations may arise requiring immediate cash payments. Some of the critical service providers are unbanked. Over the years we have worked with the Central Bank of Nigeria and commercial banks to pay for such services seamlessly during general elections, as well as off-cycle and by-elections.

‘’Over the years, the commission has migrated all its accounts at national and state levels to CBN and this arrangement has worked without hindrances to our activities.

“In view of the recent policy involving the redesigning of some denominations of our currencies and the limit on cash withdrawals and availability, we consider this meeting important in addressing some of our areas of concern with just 17 days to the 2023 general elections.

‘’We are confident that an aspect of this meeting will reduce the anxiety expressed by some of our service providers. We are determined to make the 2023 general election one of the best elections in Nigeria but we cannot do it alone. That is why the commission is mobilising every critical national institution for the success of the election.”

CBN allays fears

The CBN governor assured that cash would be made available for payment of the service providers and added that the apex bank would not allow itself to be used to frustrate the efforts of the electoral body.

Emefiele promised that the apex bank would do everything possible to support the 2023 election, stressing that it has never failed Nigerians.

He stated, “Now, just aside from the issue of storage of election materials and together with transportation of these election materials from CBN locations to your own specific or designated locations; where do you want these materials to be?

‘’I know that just a few months ago, I visited your office and you raised the issue of how foreign exchange can be procured for you to import your BVAS and other election materials that need to be imported. And I give you my word that foreign exchange will be provided for that purpose.

“I stand here or I sit here to confirm that today, not $1 is owed. All the dollars that are needed to import those items have been provided and those items have been imported.

“So, it is all part of our commitment. Now this issue of payment and logistics for people who are going to be transporting election materials, even to visit wards; the assurance I give to you is that because we regarded the INEC project as a topmost or urgent national assignment, it cannot fail and the central bank would not allow itself either to be used or itself to be seen as an agent that frustrated a positive outcome of that election.’’

Emefiele said the CBN would provide the cash support with the electoral body needed to prosecute the poll.

‘’It is not just about cash and you have done electric electronic payments before and if in this case after making your electronic payments, you require some money to pay transporters, in this case, cash; the assurance I give to you is that we will make it available so it is nothing to worry about,’’ he said.

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Rivers: Wike’s Men Reject Reployment, Resign from Fubara’s Govt

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Two Rivers State commissioners have resigned their appointments shortly after they were redeployed in a cabinet reshuffle by Governor Siminalayi Fubara. They are the Attorney General and commissioners for Justice, and Finance; Zacchaeus Adangor and Isaac Kamalu respectively.

The duo were affected by a minor cabinet reshuffle made by the governor on April 23.

Kamalu and Adangor are loyalists of Nyesom Wike, the immediate former governor of Rivers and incumbent minister of the federal capital territory (FCT).

Last year, the commissioners resigned from their positions following the political feud between Wike and Fubara.

They were later reinstated after Wike and Fubara signed a peace accord facilitated by President Bola Tinubu.

While Adangor was moved to the ministry of special duties (governor’s office), Kamalu was moved to the ministry of employment generation and economic empowerment.

Kamalu’s resignation came hours after Zacchaeus Adangor, tendered his resignation.

In a letter addressed to Tammy Danagogo, secretary to the state government (SSG), Kamalu said the governor’s “inability to maintain peace” in the state was the reason he quit the cabinet.

The former commissioner said he could not give his best in an atmosphere of rancour.

“Your Excellency would recall that I served under the Administration of His Excellency, Chief Nyesom Ezenwo Wike, CON, GSSRS, POS (now Honorable Minister of the Federal Capital Territory, Abuja) originally as Commissioner for Budget and Economic Planning (2015-2019) and subsequently as Commissioner for Finance with oversight responsibility for the Rivers State Ministry of Budget and Economic Planning (2019 – 2023),” the letter reads.

“The mandates of the respective Ministries were to the best of our abilities (as Ministries) duly carried out and at all times material relevant reforms were embarked upon for improved performance and effective and sustainable service delivery.

“Among several others, we successfully carried out the following; “Initiating and (supporting existing) policy frameworks for enhanced internal revenue generation.

“This with (necessary adjustments made on some of the programs) led to the increase in the internal revenue receipts. This steady rise has presently generated though not the figures erroneously claimed in the media.

“Aggressive improvement in Federation receipts by securing recovery by the state of oilfields that were also the subject of the successful claim against International Oll Companies (IOCs) on production sharing contracts; the recoveries arising from 13% derivation and the demand by the state for adherence to the fiscal provisions in the constitution in support of states by successfully removing from Federation receipts institutions of Government whether state or federal not so recognized by the constitution such as the Police Trust Fund and others thus widening the available receipts for States and the last but not the least our success on the subject of Value Added Tax.

“The reason behind these painstaking efforts was to make available a basket of receipts sufficient to enable the state to deliver good governance through the provision of goods and services.

“It was this idea that informed the continuity and consolidation mantra that was the theme of your election campaign and government thereafter.

“You will respectfully recall that when the climate of discord became unbearable I and other like-minded members of the Executive Council that were appointed by you resigned.

“You thereafter engaged His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and as Father of the Nation to intervene in the matter.

“In deference to the directive of Mr. President, I and the others were recalled and we all accepted and joined the cabinet again. I expected Sir that with the opportunity provided by Mr.President, every effort will be made to sustain peace.

“Regrettably Your Excellency the peace in Government and governance that we all – citizens and residents of the state desire has remained out of reach despite our consistent efforts and demand for same.

“This has affected our ability to protect and defend the gains that we made these past years.

“In the course of official engagements, I have reiterated the need for this peace and the fact we all are willing and determined to work for this.

“It is very difficult to deliver good governance where there is acrimony and discord. It is not the point of service that is important but the climate. Our present circumstance makes service delivery extremely challenging. I still hold the belief that it is never too late for peace.

“In view of the above, I find it difficult to accept the redeployment. I do not accept it. I reject it and convey to you my immediate resignation as Commissioner and member of the Rivers State Executive Council with effect from the date of this letter.

“While praying that the Good Lord grants us Peace, I thank you for the opportunity and assure you the assurances of my esteemed regards.”

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Tinubu Approves Credit Scheme Takeoff to Facilitate Purchase of Cars, Houses

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President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme to facilitate the purchase of houses and cars by working Nigerians. 

In a statement on Wednesday, presidential spokesman Ajuri Ngelale said the Consumer Credit Scheme will enhance the quality of life citizens by allowing them to “access goods and services upfront, paying responsibly over time”.

“It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations,” the statement added.

“Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased demand for goods and services stimulates local industry and job creation.

“The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.”

In line with the President’s directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit.

“This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability,” the statement noted, adding that working Nigerians interested in receiving consumer credit can visit CREDICORP’s website to express interest before the deadline date of May 15, 2024.

“The scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public.”

The CREDICORP’s objectives include: “(1) Strengthening Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.

“(2) Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today.

“(3) Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.”

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Group Celebrates Gov Umo Eno at 60 with Visits to Hospitals, Prisons, Empowerment of 60 Persons

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In celebration of the 60th birthday of Akwa Ibom State Governor, Pastor Umo Eno, the socio-political group, Connect Initiative, has embarked on a series of impactful initiatives.

They have empowered 60 vulnerable individuals and extended compassionate visits to hospitals and prisons across the state.

The group made up of professionals and entrepreneurs kicked off its activities with a low-key ceremony where 60 indigent people were given financial support.

The beneficiaries were carefully selected from across the 31 LGAs of the state.

In his opening remarks, the group’s Chief Conector, Dr Frank Ekpenyong, stated that the organisation decided to toe this line because it is the right thing to do putting into consideration the present realities in Nigeria.

He noted that the event which was to commemorate the birthday of Governor whom he described as a humble, compassionate and visionary leader that believes in development from the bottom up.

Dr Frank said that Comnect Initiatives will soon up the ante in terms of standing in the gap for government through impactful programmes and projects

In the course of the ceremony, seven respected Akwa Ibom indigenes were inducted into the Connect Forum: Sir Okon Okon, Captain Iniobong Ekong ( Retd), Aniekan Essienette, Ime Udo, Murphy Esin, Hon. Mbosowo David and Mrs Imobong Akamba.

The group then began the next day with a visit to the St. Luke’s Hospital, Anua, Uyo LGA where they cleared the bills of some indigent patients.

The patients who were in the maternity, female surgical and paedetric wards had concluded their treatments but could not be discharged due to inability to pay their bills.

All the patients: Patricia Victor Brown ( from Itu LGA), Nkoyo Edet Okon ( Oron LGA), Emem Gabriel David ( Nsit Ubium), Enobong Gabriel Emmanuel and Mavelous Bassey were thankful for this womderful intervention of Connect Initiative on behalf of the governor.

The most moving moment of the visit was the case of Mrs Magdalene Okon Edet. After listening to the pathetic story of her surgery and condition afterwards, the group decided on-the-spot to foot her over N400,000 bill.

She and her family broke into uncontrollable tears of joy.

In addition, during the ward rounds, the team was given the cheering news that a mother had earlier that day been delivered of a baby girl.

Not only was the Ebong family’s bill settled, when the good news was relayed to HE Governor Umo Eno that he now had a new birthday mate, he immediately requested to meet with the father of the baby.

The lucky father was acknowledged and presented with special gift by the Governor during the commissioning of Atiku Abubakar Way project in the presence of former President Goodluck Jonathan.

In his remarks, Rev. Father Gabriel Ekong the hospital Administrator thanked Connect Initiative for embarking on this noble cause that has brought relief and joy to many homes.

While praying that God would replenish the pockets of all those who contributed to the kind gesture, he applauded the vision of Governor Umo Eno for urging wellwishers to embrace charitable causes instead of spending the funds on parties or other unproductive endeavours.

He used the opportunity to pray for excellent health and wisdom for Governor Eno, while wishing him a very successful tenure in government.

The next port of call for the Connect Initiative members was the Methodist General Hospital, Ituk Mbang, Uruan LGA.

There, the team visited the wards where Baby Favour Edidiong, Joyce Isaac Mbaba, Imeh Phillip Etukudo, Prince Asuquo Okon and Nko Etim Umoh were all cleared to go home with a commitment that all their outstanding bills would be fully paid. Again the patients erupted in happiness and were full of prayers and praise for the celebrant and Connect Initiative.

The Hospital Superintendent, Dr Aniekan in his remarks thanked the group for this humanitarian gesture, adding that this act was worthy of emulation by other organisations
The day was rounded off at the Minimum Correctional Centre, Uyo where the team pledged to pay the fines of 13 inmates with minor offences

Speaking to journalists after the visits, the President-General of the group, Ms Idy Ekwo stated that its itinerary was carefully planned in accordance with the wishes of the celebrant, Governor Umo Eno.

She noted that based on what was discovered during the visits, Connect Initiative would make charitable interventions a more frequent affair.

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