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Old Naira Notes Remain Legal Tender – Supreme Court

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The Supreme Court on Wednesday affirmed the validity of the use of old 200, 500 and 1000 naira notes.

The apex court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.

The clarification from the court followed a complaint by Abdulhakeem Mustapha (SAN), lawyer to the Kaduna, Kogi and Zamfara states respectively.

A seven-man panel of the Supreme Court last Wednesday in a unanimous ruling granted an interim injunction restraining the Federal Government from implementing the Central Bank of Nigeria’s February 10 deadline for the swapping of the old naira notes with the new ones.

The judgement followed a motion ex-parte on behalf of three northern states Kaduna, Kogi and Zamfara, who on February 3rd filed a suit seeking to halt the implementation of the CBN’s policy.

On Wednesday (today), the apex court adjourned a hearing in the suit banning the use of the old naira to Wednesday, 22nd February 2023.

This is coming after nine states joined the suit initially filed by Kogi, Kaduna and Zamfara states.

The states are Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo and Sokoto states bringing the new total of plaintiffs to ten. On the other hand, Edo and Bayelsa have filed to be joined as respondents.

The seven-man panel led by Justice John Okoro ordered them to amend their processes to be heard as one.

But speaking during the proceeding, Mustapha said the apex government and its agencies have allegedly directed the rejection of the old notes thereby failing to comply with the February 8 court order.

According to him, the plaintiff filed a notice of non-compliance with the order of the court order made on February 8.

“The order has been flouted by the government. We are talking of executive lawlessness here. We have filed an affidavit to that effect… We want the court to renew the order for parties to be properly guided,” he said.

In his response, Justice Okoro asked Mustapha to file a proper application and put forward his complaints. This, he said, would enable the respondent to respond appropriately.

According to Okoro, there was no need for a renewal of the court’s order since the order made by the court on February 8 was made pending the determination of the motion for injunctions filed by the plaintiff.

He, however, maintained that the order still subsists since the motion was not yet heard.

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Lagos Govt Warns Schools, Teachers Against Extension Classes, Fee-Paying Tutorials for Students

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The Lagos State government has issued a stern warning to teachers and schools against extending official hours for fee-paying extra lessons.

This directive was announced by the Commissioner for Basic and Secondary Education, Jamiu Tolani Alli-Balogun, during the unveiling of a block of classrooms and furniture at Amuwo Odofin Junior High School complex.

Alli-Balogun emphasized that the extra hour after the official closing time – typically used for paid lessons – ought to be for extracurricular activities. The activities, the commissioner said, include clubs such as the Red Cross, Red Crescent, Boys Scouts, Boys/Girls Brigade, STEM Club, Writing and Debate Club, are essential for the well-rounded development of students.

Expressing his disapproval of the practice where the first lesson of the day is often neglected by teachers, Alli-Balogun warned that any teacher found derelict in their duties would face strict consequences.

“Do your job at the right time between 8.00am and 2.00pm and leave the extra hour for reading or extracurricular activities.

“We will no longer condone using that time for fee-paying extra lessons in our schools. Education is free in Lagos State, and nobody should be charging any fee for anything,” he warned.

The commissioner made these remarks during the inauguration of new classroom facilities and furniture at the Amuwo-Odofin Junior High School Complex, a project sponsored by Grimaldi Group and Ports & Terminal Multiservices Ltd.

He urged students to fully engage in the various social activities and clubs available to ensure their holistic development.

Alli-Balogun’s stern message underscores the government’s commitment to free education and the importance of extracurricular activities in fostering a balanced educational environment.

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Declare State of Emergency on Power Sector Now, Barth Nnaji Tells FG

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By Morakinyo Ajibade

Chairman, Geometric Power Limited, and former Minister of Power, Prof. Bartholomew Nnaji, has said that only a state of emergency on the power and gas sector will restore the comatose energy and electricity crisis in the nation.

The former Minister, who just commissioned a power station in Aba, Abia State, made this call while speaking as a guest lecturer at the inaugural Dele Momodu Leadership Lecture, held at the Nigerian Institute of International and Affairs (NIIA) in Lagos.

According to him, a state of emergency needs to be declared in the gas sector as this declaration will save the power sector and allow the government and other stakeholders to address fundamental issues in the gas sector in a robust manner.

“The issues will include how to strike a healthy balance between producing gas for export and gas for domestic consumption. Gas is equally needed in both markets.

“There is not enough natural gas or even liquefied petroleum gas used in the kitchen. Even the Nigeria Liquefied Natural Gas company, a major foreign exchange earner that also has a guaranteed market, has been operating at 60% capacity on account of insufficient gas supply.

“The petroleum companies supplying gas to power-generating companies are in a tighter position. Because they are performing sub-optimally, there are now longer periods of electricity blackouts throughout the country. This is despite the spirited efforts of the NNPCL, the Ministry of Power and the Presidency,” he said.

The event, which attracted the who’s who in the nation’s political and economic climate, was held to mark the 64th birthday of Aare Dele Momodu, a veteran and seasoned journalist, who has dedicated most of his life time in the pursuit of equity and food governance in Nigeria.

Among dignitaries that graced the all important gathering were the former President of the Republic of Ghana, Dr. John Dramani Mahama; Ooni of Ife, Oba Enitan Adeyeye Ogunwusi; Osun State Governor, Senator Ademola Adeleke; former governor of Anambra State, Mr. Peter Obi, former governor of Kano State, Senator Rabiu Kwankwaso; traditional rulers, captains of industries, and the general public.

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Adeleke Hails Glo, Adenuga for Enormous Contributions to Economy

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The governor of Osun State, Senator Ademola Adeleke, has praised Globacom for its enormous contributions to Nigerian society. He also lauded the company’s chairman, Dr. Mike Adenuga, Jr., for his strong faith in the country.

Governor Adeleke, who made the remark while entertaining a Globacom team in his office in the state capital, insisted that “the subnational entities are where your market is and even though the regulatory body is national, your market base remains the states and the local governments. You must deliberately prioritize partnership with the state government”.

“The telecom community must understand that giving full support to the states in terms of payment of right taxes and corporate social responsibility is an investment in your market. The more robust the state governments are, the more buoyant your market will be,” the governor averred.

He extolled Dr Adenuga, who he described as a “great Nigerian whose impact on the Nigerian and the African economy cannot be quantified.”

He told the Globacom team that his administration was prepared to work with the corporation on a business partnership. “Be rest assured that this partnership is already a reality. We just need to work out the details”, the governor added.

The Glo Public Sector team leader, Niyi Odejobi assured the governor that the telecom behemoth is prepared to support the state to flourish.

He said Globacom is prepared to roll out digital and internet infrastructure to support companies and government in the state, promising that the cooperation will transform Osun state.

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