News

Supreme Court Orders Indefinite Use of Old, New Naira Notes

Published

9 months ago

November 29, 2023

Eric

The Supreme Court, on Wednesday, said both the old and the new resigned naira notes remain legal tender till further notice.

The apex court, in a ruling by a seven-man panel of justices led by Justice John Okoro, said the banknotes should remain in circulation, pending when the Federal Government, after due consultation with relevant stakeholders, takes a decision on the matter.

It made the order, after it heard an application that was moved on behalf of the federal government by the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN.

It will be recalled that the court had on March 3, nullified the ban on use of the old N200, N500 and N1000 banknotes as valid legal tenders by the President Muhammadu Buhari-led administration.

The court held that the old Naira notes should be used alongside the redesigned currencies, until the end of the year.

In its lead judgement that was prepared and delivered by Justice Emmanuel Agim, the apex court slammed FG for unilaterally introducing the demonitization policy, through the Central Bank of Nigeria, CBN, without consulting the Council of States, the Federal Executive Council, the National Security Council, the National Economic Council, Civil Society Organizations and other relevant stakeholders.

It held that FG failed to give valid notice to all the federating units, before it decided to withdraw the old banknotes from circulation and introduce new ones.

The cupreme court maintained that evidence before it established that a purported notice on the monetary policy was through “mere press remarks” by governor of the CBN, Mr. Godwin Emefiele.

It held that such remarks did not qualify as “reasonable notice” to the states as envisaged under section 20(3) of the CBN Act.

Besides, the court invalidated the directive President Buhari gave in the broadcast he made on February 16, which allowed only the old N200 note to remain a legal tender till April 10.

While accusing President Buhari of disobeying the interim order it made on February 8, which directed that the old banknotes should remain in use till the determination of the case before it, the apex court stressed that the President, by going ahead to ban the old banknotes, acted in a way that was inimical to democratic governance.

According to the court, having acted in disobedience to its order, FG lost its right to be granted audience before it.

Following the end of the last administration, the President Bola Tinubu-led government re-approached the apex court for an indefinite extension of its December 31 deadline.

News

Ngelale Resigns As Tinubu’s Media Aide

Published

4 hours ago

September 7, 2024

Eric

Ajuri Ngelale, special adviser to President Bola Tinubu on media and publicity, says he will be embarking on an “indefinite leave of absence to frontally deal with medical matters” affecting his immediate, nuclear family.

In a statement issued on September 7, Ngelale said the decision “was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home”.

“While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity and Official Spokesperson of the President; Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family,” he said.

Ngelale said he “looks forward to returning to full-time national service when time, healing, and fate permit”.

“I respectfully ask for some privacy for my family and I during this time,” he added.

On July 31, 2023, Tinubu appointed Ngelale, an ex-aide to former President Muhammadu Buhari, as his special adviser on media and publicity.

On May 19, 2024, the president appointed Ngelale as the special presidential envoy on climate action.

News

Revisit Your Drawing Board, Nigerians Are Suffering Deeply, Yoruba Elders Tell Tinubu

Published

1 day ago

September 6, 2024

Eric

The Yoruba Council of Elders (YCE) has told President Tinubu that Nigerians are “suffering deeply” under his administration asking him to meet short term needs of the people before pursuing a long term vision.

The elders’ council, through its Secretary General, Chief Oladipo Oyewole, stressed that millions of Nigerians living without food, fuel and light, President Tinubu needs to go back to drawing board and fashion out measures that will bring immediate comfort to the people.

YCE, through a statement, noted that it remains hopeful that Nigeria will have a turnaround.

“However, going by scanty information available on Government pursuits and activities, there is, presently, a lot of suffering in the land.

“Be that as it may, we of YCE stand on our strong position that the interest of the masses to live a good life should be given full attention.

“Without regular supply of electricity and with the official announcement of increase in the price of petroleum products (PMS), the current hardship cannot but be increased in daily living by Nigerians.

“The Federal government ought to immediately pursue every avenue to make available to our people, the dividends of democracy. Not through distribution of palliatives (that does not seem to filter to the bottom) but by putting in place avenues to enhance proper and quality living through effective governance administration.

“Every Nigerian should be entitled to enjoy our common resources Indeed, Nigerians are suffering deeply at this time….. no light, no fuel, no food”

“Mr. President should, without delay, revisit his drawing board to attend to the short term needs of Nigerians (the immediate needs of the people) whilst pursuing the long term vision of making Nigeria a better place for growth and for development.

“As Elders, we demand immediate succour for the people to boost the welfare of Nigerians so that all can live in comfort and harmony.As far as this elders council is concerned, a lot of administrative work by Government is (absolutely) required for the masses of this country to live, stay alive as respectable and responsible people.”

The state of this nation today, YCE said, is a pill that has a bitter taste.

“The administration of President Bola Ahmed Tinubu should do something quickly to ensure proper steering of its intentions to establish and install better governance in Nigeria. In fact, the Presidency should do all possible to alleviate the suffering of all Nigerians immediately and without delay.”

News

We Deliberately Demobilized, Abandoned Captured Armoured Tank, Says Defence Hqrs

Published

4 days ago

September 3, 2024

Eric

The Nigerian Defence Headquarters has reacted to viral video of terrorists leader, Bello Turji and his gang burning a captured military armoured tank.

In the video that surfaced online, the terrorists were seen celebrating after burning the military vehicle.

In its reaction, the Military, in a report monitored on the official X handle of DAILY POST on Monday, through the Director of Defence Media Operations, Maj-Gen Edward Buba, said the MRAPs seen in the viral video were demobilized due to the inability of troops to use them.

Buba stated that the incident happened after the military personnel got stuck in swampy terrain during operations against bandits in Zamfara State.

He said the troops decided to demobilize the MRAPs to prevent it from being useful to the terrorists after abandonment.

He said, “Subsequently, troops dismounted and demobilized the MRAPs, when efforts to backload them were futile. The said demobilization of the MRAPs by troops was to prevent it from being useful to the terrorist after abandonment.”