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Emefiele, CBN Finally Bow to Pressure, Declare Old Naira Notes As Legal Tender

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The Central Bank of Nigeria Governor, Godwin Emefiele, on Monday finally bowed to pressure and officially ordered commercial banks to comply with the Supreme Court judgement mandating the use of old N,1000 and N500 notes as legal tender till December 31, 2023, exactly 10 days after.

He also announced that the old N200, N500 and N1,000 would remain legal tender till the end of the year.

Emefiele said the decision followed a meeting with Bankers  Committee that held on Sunday.

The development has put an end to the confusion over the legality of the old naira notes. The action is also expected to ameliorate the suffering of Nigerians who have faced severe hardships over the scarcity of new naira notes amid the controversial ban on the old notes.

The Acting Director, Corporate Communications, Isa AbdulMumin, disclosed the latest development in a statement titled ‘Old N200, N500, and N1,000 banknotes remain legal tender – CBN’

The statement read, “In compliance with the established tradition of obedience to court orders and sustenance of the rule of law principle that characterised the government of President Major General Muhammadu Buhari (retd.), and by extension, the operations of the Central Bank of Nigeria, as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1,000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023. Consequently, all concerned are directed to conform accordingly.”

Earlier on Monday, the Nigerian Bar Association and Nigeria Labour Congress had berated the Federal Government and the CBN for failing to obey the Supreme Court judgment on the old naira notes.

On Sunday, the Arewa Consultative Forum in a statement said Buhari’s failure to obey Supreme Court would tarnish the reputation of his regime.

The NBA came down hard on the President and the Attorney-General of the Federation, Abubakar Malami, for failing to obey the Supreme Court judgment.

The Supreme Court had in its March 3 judgment extended the legal tender status of the old N200, N500, and N1,000 notes until December 31.

However, the AGF and the CBN Governor, Godwin Emefiele refused to comply with the order despite pressure from Nigerians. Their actions also encouraged commercial banks to reject the old notes as legal tender.

Worried by the development, state governments involved in the suit threatened to file contempt charges against the two officials on Tuesday (today) should they fail to obey the apex court order.

In the judgment delivered by Justice Emmanuel Agim, the Supreme Court held that Buhari breached the constitution in the manner he issued directives for the naira notes.

The seven-man panel also slammed the President over his February 16 broadcast in which he said only the N200 note should remain legal tender in flagrant violation of the restraining order made by the apex court.

Justice Agim stated, “The rule of law upon which our democratic governance is founded becomes illusory if the President of the country or any authority or person refuses to obey the orders of courts. The disobedience of orders of courts by the President in a constitutional democracy as ours is a sign of the failure of the constitution and that democratic governance has become a mere pretension and is now replaced by autocracy or dictatorship.”

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Stay Away from CBT Centres, JAMB Warns Parents, Threatens Arrest

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As this year’s Unified Tertiary Matriculation Examination (UTME) begins on Friday, the Joint Admissions and Matriculation Board (JAMB) has vowed to arrest parents found near any Computer-Based Test (CBT) centre during the 2024 UTME exercise.

The directive was issued at the final briefing of the CBT centre owners, which was held virtually on Wednesday, 17th April, 2024.

The spokesman for JAMB, Fabian Benjamin, said this directive became necessary following the intrusive disposition of some parents during the Board’s previous exercises.

Benjamin, who quoted JAMB Registrar Prof. Is-haq Oloyede, said any parent, who disobeys the order would not only be arrested but his ward would also be disqualified from sitting for the examination.

Oloyede explained that this measure became necessary as it has been discovered over time that many of these intruding parents are facilitators of examination infractions while others have, by their actions, disrupted the Board’s examinations in the past.

He added that some miscreants also disguise as parents to infiltrate the centres to perpetrate all forms of infractions.

“The Board’s helmsman noted that going by the extant national policy on education, a candidate for the examination must have attained the age of 17 years.

“Therefore, it is evident that these parents had not allowed their wards to pass through the classes as defined in the document, hence the desperation to follow their wards to the examination venue with the aim of compromising examination officials.

“At any rate, it is clear to any discerning observer that these parents deserve to be sanctioned as they had obviously ‘smuggled’ underage children into the ranks of those scheduled to sit the examination,” the Board note through a statement.

Furthermore, the Registrar said all arrangements have been concluded for the conduct of the 2024 UTME, which will be held in over 700 CBT centres across the nation.

He disclosed that the Board expects a seamless exercise but it has nevertheless made adequate provision to tackle any technical glitch that might occur in the course of the examination.

He, however, warned that if a session experienced any technical challenge, candidates in subsequent sessions would be allowed to sit their examination as scheduled while the candidates in the challenged session would be rescheduled for the last session for the day or the following day or even further depending on the centre schedules.

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Oyo Govt Demolishes Operational Base of Yoruba Nation Agitators

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The Oyo State government, on Wednesday, demolished a building serving as the operational base of the Yoruba Nation agitators led by Modupe Onitiri-Abiola, in Ibadan.

Onitiri-Abiola, one of the widows of late Bashorun M.KO Abiola, had declared the creation of the so-called Yoruba Nation in a video posted online, which has been widely condemned.

Last Saturday, some armed men in military uniforms invaded the Oyo State Secretariat, with the motive to forcefully take over the State House of Assembly, before they were dislodged by the combined efforts of police and troops for the Nigeria Army 2 Division..

Mr. Fatai Owoseni, Special Adviser on Security Matters to Governor Seyi Makinde, confirmed the demolition of the house located at Toye Oyesola Street in Ibadan South West Local Government Area.

Already, no fewer than 29 suspects – including a lecturer – arrested in connection with the foiled armed invasion were on Wednesday arraigned by the police before a Chief Magistrates’ Court in Ibadan.

In a case with charge number Mi/520c/2024 between the Commissioner of Police and the 29 suspects, they were accused of a seven-count charge of treasonable felony, unlawful society, illegal possession of firearms, and conduct likely to cause breach of peace.

Inspector Bakare Rasaq, the Investigative Police Officer (IPO) at the State Criminal Investigation Department, Iyaganku, Ibadan, said the offence contravenes, and is punishable under Section 516 of the Criminal Code, Cap 38, Vol. II, Laws of Oyo State of Nigeria, 2000.

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PDP BoT Queries Damagum, Anyanwu’s Continued Stay in Office

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The Board of Trustees of the Peoples Democratic Party has queried the continued stay in office of the party’s acting National Chairman, Umar Damagum, and National Secretary, Samuel Anyanwu.

Recently, many party members have raised concerns about the ongoing tenure of Damagum and Anywanwu in their respective positions.

Previously serving as the PDP National Deputy Chairman (North), Damagum assumed the role of acting National Chairman following the court’s suspension of the party’s National Chairman, Iyorchia Ayu, in March of the preceding year.

With the National Secretary being selected as the PDP candidate for the Imo State 2023 governorship election, the South zone has been grappling with nominating a replacement. Despite this, he, along with other party leaders, contested and retained the position of party secretary after losing to Governor Hope Uzodinnma.

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