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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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PDP Suspends National Chairman, Ayu at Ward Level

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The Peoples Democratic Party (PDP) on Sunday announced the suspension of its National Chairman, Dr. Iyorchia Ayu, for alleged anti party activities.

Ayu was suspended by the PDP Ward Executives of his Igyorov Ward in Gboko Local Government Area of Benue State.

The PDP Ward Secretary, Vangeryina Dooyum, on behalf of Kashi Philip, who is the Ward chairman, told journalists in Makurdi, that the national chairman’s suspension followed his alleged anti party activities.

The secretary in a statement signed by 12 out of the 17 member Ward Executives, noted that the decision to suspend the National Chairman was reached after the leadership reviewed his conduct at the end of the just concluded general elections.

The secretary, who was flanked at the press conference by the ward chairman and other members of executive, read from the statement which announced Ayu’s suspension.

“We observed with utmost dismay that, Dr. Iyorchia Ayu who is the National Chairman of the PDP worked against the success of the party in Igyorov Council Ward.

“It is on record that, he has also failed to pay his Annual Subscription Fees as provided under Section 8 (9) of the constitution of the PDP 2017 (As Amended).

“Further investigation also revealed that, he did not vote during the Governorship and State Assembly Elections held on March 18, 2023.

“It was also discovered that, most of his closest allies worked for the opposition party, the All Progressive Congress (APC) and hence, the abysmal performance of the PDP in Igyorov Ward.

“In view of the foregoing, we hereby pass a Vote of No Confidence on Dr. Iyorchia Ayu and suspend him as a member of our party with immediate effect. The suspension takes effect from March 24, 2023.”

Recall that the PDP at the state level during the weekend passed a vote of confidence on Governor Samuel Ortom, whom the national chairman’s led executive at the apex level referred to its disciplinary committee.

The PDP in Benue State passed a vote of confidence on Ortom for what they described as his steadfast loyalty and selfless, sacrificial leadership to the party.

State Publicity Secretary of PDP, Bemgba Iortyom, in a statement signed on behalf of the party’s state working committee in Makurdi at the weekend called on its national body to rescind decision referring the governor to its disciplinary body.

“We have noted with grave concern the action taken yesterday by the National Working Committee (NWC) of the party in referring Governor Samuel Ortom to its Disciplinary Committee to answer to charges of anti party activities preferred against him.

“Benue PDP finds it difficult to understand the rationale by which anti party activities are determined at the National Secretariat by the NWC such as sees one out of the G-5 Governors singled out for punitive action on ground of that offence, and what the procedure is for meting out punitive measures against such anti party activities where some persons including Professor Dennis Ityavyar having been suspended without facing any disciplinary Committee.

“The party feels strongly that in fulfilling its duty as a state chapter it must remind the NWC of the implications of its current action against Governor Ortom and others.

“It is, therefore, a motion of the Benue PDP SWC that a Vote-of-Confidence be passed on Governor Samuel Ortom for his steadfast loyalty and selfless, sacrificial leadership to our great party, PDP.

“We equally call on the NWC to explore exhaustively options towards fostering reconciliation, unity, re-branding and repositioning of the party to recover its lost glory,” the statement reads partly.

The party further argued that the action runs in contempt of a subsisting court injunction restraining PDP at all levels from taking any punitive action against the Benue State Governor pending the determination of a substantive suit which is lying before a court of competent jurisdiction on the matter.

Daily Trust

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Declare Ogun Guber Polls Inclusive, Order Re-run, Group Tells INEC

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A group, under the aegis of Vanguard for Democracy and Good Governance, has called on Independent National Electoral Commission (INEC) to desist from issuing the certificate of return to the Ogun State governor, Dapo Abiodun.

In what it earlier term a ‘sham’, the group had earlier called on INEC to review the result of the just concluded governorship election in the state as, according to it, the election did not produce a winner yet.

In a communique made available to newsmen in Abuja on Sunday, the group urged INEC to not issue a certificate of return to Governor Abiodun, as the governorship election is inconclusive by all standards.

“While we commend INEC on the introduction of the bimodal voter accreditation system (BVAS) and the result viewing portal (IREV) which have largely improved electoral conduct in the country, we make bold to say that the election in Ogun State, despite being marred with all forms of electoral malpractices, still did not produce a winner, in accordance with the Electoral Act.

“As clearly observed, INEC flippantly went ahead to announce a winner rather than declaring it inconclusive, as the margin between the top two leading candidates is far lesser than the total number of cancelled votes in some areas. In this case, the difference between Governor Dapo Abiodun of the APC who polled 276,295 and the 262,383 votes polled by Ladi Adebutu of the PDP was only 13,912, with cancelled votes amounting to 33,750.

“The Electoral Act 2022 is clear on what should be done in such circumstance. We hereby refer INEC to the article in our supreme Electoral Act which states that, “Where the difference between the winner and the loser is less than cancelled vote, the results should be inconclusive.”

“This particular case is one fraudulent one and INEC need do the needful rather than taking steps that attract an avoidable litigation and put the commission in bad light.

“On this note, we enjoin INEC to embrace justice by withholding the certificate of return in the Ogun guber until a rerun election is declared and conducted,’ the statement read in part.

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Osun: Governor Adeleke Floors Oyetola at Appeal Court

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The Court of Appeal on Friday set aside an earlier election tribunal verdict that declared Gboyega Isiaka of the All Progressives Congress as the winner of the last Osun state governorship election.

The court in its ruling confirmed Ademola Adeleke of the People’s Democratic Party as the winner of the election.

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