The Supreme Court has ordered the Federal Government and the Central Bank of Nigeria (CBN) not to enforce the  February 10 deadline for the phasing out of the old naira notes.

A five-member panel of the court, led by Justice John Okoro gave the order on Wednesday that it was a matter of urgent national importance that the court should intervene.

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The ruling was on an ex-parte motion filed by the governments of Kaduna, Kogi and Zamfara states

The Trade Union Congress of Nigeria (TUC), yesterday gave Federal Government seven days ultimatum to make fuel and currency available to Nigerians, failure which it would call out its members for a nationwide industrial action.

The TUC in a statement by the President, Festus Osifo and the Secretary General Nuhu Toro, said it has already puts its members on red alert.
“Congress is however, not going to wait in perpetuity for the political leadership to put on its thinking cap. Therefore, we demand that the Federal Government within seven days, beginning from Tuesday 7th February, 2023 provides a solution to the twin problems of currency unavailability and fuel shortages,” the statement read.
The labour centre said it shall be monitoring the situation closely and will give further directive should the situation not improve.
“All State Council executives are hereby put on red alert,” adding that Nigeria belongs to the people, not to the government or the birds of passage who hold power.
The TUC leadership said the centre would be willing to make the needed sacrifices, if necessary, to salvage the country.
It lamented that like the rest of the Nigerian populace, is bewildered that the country is being dragged through the twin crises of currency and fuel shortages.
According to the labour centre, never in the history of the country have Nigerians been subjected to so much pain, sorrow and anger which threatens to boil over into the streets, “Indeed, pockets of protests have broken out in some states.”

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It stated, “Nigerians have never been subjected to the nightmare of being unable to access their hard-earned money in the banks leading to business closures and inability to pay for food, transportation and medical bills amongst other necessities.
“Also, the situation where the populace is forced to buy Nigerian currency or part with a significant percentage of cash just to get access to their own money is disheartening and evil. It is unacceptable that a country of laws with a plethora of government and security services in place is unable to curb these crimes against the people and bring perpetrators to book.”
The Congress warned the politicians that it is not interested in the blame game going on in government and political circles, neither is it fascinated by the endless promises and assurances made by the federal government that the situation will soon be brought under control.
But rather it expressed that it is bothered that even the smaller denominations of N100 naira notes and N50 notes that were not affected by the Naira redesign, paradoxically are not in circulation anywhere in the country.
“President Muhammadu Buhari needs to give a marching order to the Central Bank of Nigeria (CBN) and the commercial banks to make available the legal tender, unconditionally to Nigerians without further delay,” it charged.
The TUC leadership opined that all it demands is the immediate return to normalcy so that Nigerians who are already subjected to an unprecedented runaway inflation, can have access to their hard-earned money.
It added that the lengthy explanations on why there are long queues at fuel stations and prices of PMS being far above the official price can no longer be tolerated.
“All we demand is that petrol returns to fuel stations and is available at the official price across the country,” the Congress stated, warning that the time for government to act is now before the situation gets out of hand and the populace take matters into their own hands.

SUN

Kano State Governor Abdullahi Ganduje yesterday raised the alarm that  ” anti-June 12 elements” were bent on scuttling the nation’s democracy.

He said the elements were “regrouping and dangerously masquerading” in the prevailing crisis generated by the new cash policy of the Central Bank of Nigeria (CBN) to achieve their goal.

Ganduje alleged that the elements consisted of “unknown political parties” working in consort with the Peoples Democratic Party (PDP).

Also yesterday, the Federal Government blamed its failure to end the impasse generated by the naira redesign on ”some opposition political parties.”

Ganduje had in a statement in Kano alleged that open support for the naira redesign by the PDP and its presidential candidate, Atiku Abubakar, showed collaboration between the opposition and the CBN to weaken the masses through harsh policies and thwart democracy.

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