How minister, top govt official changed Buhari's plan to allow recirculation of old N500, N1,000 notes – Newstrends
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How minister, top govt official changed Buhari’s plan to allow recirculation of old N500, N1,000 notes

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Fresh facts indicated yesterday that a minister and a top government official changed the plan of President Muhammadu Buhari to allow the recirculation of old N200, N500 and N1,000 notes till April 10.

Also it came to light that state governors would have accepted the decision despite the fact that they wanted a minimum of one year timeline to change the redesigned notes to the new ones.

The governors claimed, during discussions with some government officials, that their secret investigations confirmed that it might take the Nigerian Security Printing and Minting Plc over nine months to print N1 trillion of the new notes.
Findings by The Nation revealed that before his broadcast to Nigerians on Thursday, the President had received security reports on mass disenchantment with the Naira redesign policy.
Among other intelligence, the President got to know that the policy was ‘hurting’ the poor.

According to a top source, the President highlighted three choices for consultations before addressing Nigerians.

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The options were as follows:
  • Outright review and reversal of the Naira redesign policy+
  • Recirculation of old notes of N200, N500 and N1,000 from February 10th  to April 10th
  • Allowing the court to have the final say on the Naira redesign
  • Out of court settlement to save the economy of any jolt

The top source said: “After isolating the alternatives to prevent chaos, the President initiated a series of consultations with state governors, allies, strategists and gauging the mind of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.

“The President was deeply concerned that the poor people were the most affected by naira scarcity.  Based on the assurance he got from Emefiele, he had hoped that the policy would be executed with slight dislocations.

“Buhari noted the points made by those who asked for a review. What worried him most were reports of how poor Nigerians who legitimately made their money were finding it difficult to get the new notes and therefore unable to feed themselves and their families.

“Buhari had virtually made up his mind to allow the reintroduction of the three denominations and for both the old and new notes to be legal tender till April 10th. Some presidential aides were waiting for directive to announce the decision but the intervention of a minister and a presidency official led the President to have a change of heart. What followed was the broadcast by the President on Thursday morning.”

The source gave insights into how the two government officials ‘influenced’ the last-minute decision of the President.

“Both officials pressed it on the President that allowing N500 and N1000 to be legal tender until April 10th would defeat his resolve not to allow those who have stashed billions of the old notes for the forthcoming elections to bribe voters.

“They convinced the President that Nigerians would accept this when he addresses them, show understanding and embrace the policy. Lost on the President and the two officials was the concern of the governors that re-circulating only the N200 old notes will not end the scarcity of the national currency.

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“Also glossed over was the injunction of the Supreme Court of February 8 which was reaffirmed on February 15 that the old notes remain legal tender until the suit filed by the governments of Kaduna, Zamfara and Kogi and the motion of objection filed by the Federal Government are heard and determined.”

Responding to a question, the source said: “The two officials are members of the cabal working against the APC presidential candidate, Asiwaju Bola Tinubu, because their ambitions were not realised.

“One of them wanted to be a governor and the other a presidential running mate. Buhari believed that their advice was altruistic, not knowing that they had an ulterior motive.”

Another reliable source, who was in the know, explained the intrigues on the Naira redesign policy and attempts by state governors to help Buhari arrive at a popular decision.

The source admitted that the governors wanted a minimum of one year timeline to change the redesigned notes to the new ones.

The source said: “After days of negotiation with the governors, Buhari wanted a quick resolution of the naira crisis. The option of re-circulating the N200 note proposed by the CBN was flatly rejected by the governors. Their argument was that the quantity of the denomination to be re-circulated would not be enough.

“They asked that the CBN make available the quantity of the new notes printed and the quantity of the N200 old notes to be re-circulated to see if it was close to the over N2 trillion mopped up. But the apex bank was not forthcoming with the figures.

“The governors were therefore not convinced that the option will ameliorate the hardships brought about by scarcity of the new notes.

“The governors therefore insisted that all the old notes be re-circulated for at least one year.

“Their position was informed by what a governor called the  “authentic,  verifiable  information ” that the Mint would need close to over nine months to print one trillion naira of the new notes, assuming that it does no other job during the period.”

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Minister withdraws orphan-marriage suit against Niger Assembly Speaker

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Minister for Women Affairs, Uju Kennedy-Ohanenye

Minister withdraws orphan-marriage suit against Niger Assembly Speaker

The Minister of Women Affairs , Uju Kennedy -Ohanenye, has withdrawn a suit she earlier filed against the speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, following his decision to marry off 100 orphans from his constituency.

Speaking with reporters, the minister noted that the ministry in collaboration with the speaker of the Niger state assembly, and traditional rulers from the state, are currently investigating the ages of the girls to ascertain if they are within the stipulated age for marriage.

According to her, the Ministry of Women Affairs will, for now, focus on empowering girls, as well as others affected by insecurity in the state.

Last week, the speaker, Sarkindaji, announced plans to marry off 100 orphans in his constituency as part of measures to alleviate their sufferings.

While the development had sparked national outrages, the Muslim Rights Concern (MURIC), urged the minister to withdraw the litigation and petition she wrote to the Inspector General of Police.

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The Chairman, Kano State Chapter of MURIC, Malam Hassan Indabawa, who made the call on Thursday night in a statement, urged Nigerians to learn to respect one another’s culture and traditions.

“We found the harsh and hasty decision taken by the Honourable Minister for Women Affairs over a matter that is entirely beyond the scope of her ministry.

“The minister’s attempt at media demonisation of marrying off of 100 poor and orphaned girls, who were largely traumatised for losing both parents to brutal and bloody banditry and insurgency, exposed her ignorance to the culture and traditions of the Muslim North.

“This elaborate media blitz, over the matter, MURIC observed, was deliberately done to sway public opinion against the marriage institution, and an attempt to vilify Sarkin-Daji, after demonstrating his genuine concern for the needs of members of his constituency,” Indabawa said.

The marriage arrangement in question is slated to take place on May 24, 2024.

Minister withdraws orphan-marriage suit against Niger Assembly Speaker

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Group protests against corruption allegation against Mattatwalle at EFCC HQ

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Comrade Emmanuel Onwubiko, National Coordinator of Human Rights Writers Association of Nigeria (HURIWA)

Group protests against corruption allegation against Mattatwalle at EFCC HQ

A group on Friday occupied the national headquarters of the Economic And Financial Crimes Commission (EFCC) in a protest they said was aimed at urging the anti-graft agency to ignore being cowed to prosecute President Bola Tinubu Minister of State for Defence, Bello Muhammed Matawalle over allegations of corruption.

The group led by Comrade Emmanuel Onwubiko, National Coordinator of Human Rights Writers Association of Nigeria (HURIWA) carried various placards and urged the EFCC to resist any pressure and blackmail to prosecute an alleged offender, but follow the due process of the rule of law.

Onwubiko, who addressed journalists at the EFCC headquarters, called on politicians to stop pressuring the EFCC to prosecute citizens who they are at war with.

In the letter Onwubiko presented to the executive chairman of the EFCC, Olanipekun Olukayode, on behalf of the group, the group said, “We are compelled to address the recent developments regarding the protests against the Minister of State for Defence, Bello Muhammed Matawalle.

“The protests, which appear to be sponsored, have reached a disturbing level and are now a cause for serious concern.

“HURIWA is here by advocating the observance of the tenets of the law that recognises even suspects as being totally innocent in the eyes of the law until a contrary determination is reached by a competent court of law and not court of seekers of ‘lynch mob’ injustice.

“It is crucial to emphasise that allegations alone do not constitute guilt.

“These claims lack substantial evidence and seem politically motivated.

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“We urge that such matters be handled through the proper legal channels, with written petitions submitted to the EFCC as required by law, rather than through public protests that aim to intimidate and exert undue pressure on the Commission.”

Dr. Matawalle has consistently operated within the bounds of the law and has expressed his willingness to cooperate fully with the EFCC to ensure a transparent and fair inquiry, the group argued in the letter.

The letter further argued that, “His track record of service to the nation speaks for itself. volumes about his integrity and dedication to public office. As such, the EFCC must conduct its investigations without external pressures or distractions.

“The context of these allegations cannot be ignored.

“Nigeria’s political landscape is often marred by smear campaigns and character assassination attempts, particularly against those in positions of authority.

“The ongoing protests are likely aimed at diverting political office holders from their duties and responsibilities.”

“We requests the Executive Chairman of the EFCC to discourage these politically motivated protests against government functionaries.

“We advise those with grievances to follow due process by submitting written petitions or seeking redress through competent courts of law.

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“Furthermore, we propose that the protesters or their sponsors sign a bond agreeing that, should the investigation exonerate Matawalle, they will face arrest and be made to pay the same amount they are alleging as damages to Matawalle.

“The EFCC is a respected institution that must uphold its mandate with integrity and independence. We trust that you will consider our concerns and take the necessary steps to ensure that justice is served impartially.

“While the right to peaceful assembly and free speech is fundamental, these rights should not be exercised in a manner that disturbs public peace and security.”

Briefing journalist after the presentation, Onwubiko stressed that, “We are not here to defend Mattatwalle, but it looks like there’s a systematic, politically motivated witch hunt against the Minister of State for Defence by certain elements that have been procured by politicians from his state, Zamfara.

“I think the major reason these pressures have been activated recently is because he made a landmark statement that ‘if you are from the north and appointed into public office by the current president, that the duty you owe to the president as the appointing authority, is to give him 100 per cent loyalty’.

“But certain forces in the North, who have their political agenda to remain relevant, and their understanding of how to get into government is to conjure and chronograph protests all over the place.

“It is illegal for citizens to abuse privileges granted to them by constitution by politicising and weaponizing their enmity to a particular person because the person is privileged to be in government .

“It is not right to use ideology and Political differences to instigate undue pressure to try to score cheap points using clearly established and legally permitted organisations and institutions like the EFCC.” He stated .

Group protests against corruption allegation against Mattatwalle at EFCC HQ

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Tinubu solicits Faye’s help in bringing Mali, Niger, Burkina Faso back to ECOWAS 

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Tinubu solicits Faye’s help in bringing Mali, Niger, Burkina Faso back to ECOWAS 

President Bola Tinubu has appealed to the President of Senegal, Bassirou Faye, to join him in persuading Mali, Niger and Bourkina Faso to return to the Economic Community of West African States (ECOWAS).

The three countries withdrew from ECOWAS in January 2024 after ECOWAS sanctions were imposed on them following the military takeover of their governments.

The military rulers of the three countries announced their immediate withdrawal from ECOWAS in a joint statement.

They have refused to return to the regional bloc despite the lifting of the sanctions.

Tinubu, who is the Chairman of ECOWAS, received the younger Senegalese President on a visit to the Presidential Villa Abuja on Thursday.

“As the Chairman of ECOWAS, I am inviting you to collaborate and meet those other brothers; to persuade them to come back to the fold,” the Nigerian President said.

Tinubu however said democratic governance, democratic values, and constitutional order are sacrosanct and must be protected.

He said, “But how can we work for our people and make them the focus of our democracy if we are violating the rule of law and promoting unconstitutional takeover of government?”

The Nigerian President added that critical institutions and precepts, like the judiciary and the rule of law, must be respected and observed for the sustenance of democracy.

“Constitutional democracy is what Senegal proved to the rest of the world and Africa.

“It is a joy to have you here; to meet the hope and aspiration of our youths. You fit in perfectly well.

“A critical time it is in the history of constitutional democracy, particularly in West Africa. What you have embarked upon, a struggle couched in freedom, is remarkable,” Tinubu said.

In addition, the Nigerian President called for a common front among African nations in the fight against challenges of terrorism and human trafficking bedevilling them.

Tinubu described Nigeria and Senegal as brotherly nations, recounting both countries’ long history of cooperation.

“We must be able to partner and build the freedom we believe in – in economic growth, development and other spheres of governance,” the President said.

In his remarks, Faye acknowledged Nigeria and Senegal’s shared values, ideals, and challenges, emphasising that both nations have always had good relations since the 1960s.

“The good relations we have and the relations between our private sectors should be beneficial to our countries,” he said.

The Senegalese President called for the reactivation of the Nigeria-Senegal joint commission to strengthen bilateral relations across the areas of diplomacy, trade, and other spheres.

Speaking on regional bloc, the Senegalese President said, “ECOWAS is the beacon of successful regional integration in Africa and globally. It is something we owe to the founding fathers of the community, and I have no doubt that you want to continue this legacy of integration.

“I know I can rely on your wisdom and experience, as the leader of this great African nation, and the more recent example of Senegal; so that together, hand in hand, we can grow together, and that we can discuss with our brothers and convince them to come back into the fold.”

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