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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Nigeria Customs Service begins 2025 recruitment [How to apply]

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Nigeria Customs Service begins 2025 recruitment [How to apply]

The Nigeria Customs Service (NCS) has announced the commencement of its recruitment exercise, assuring Nigerians that the process is entirely free and fair.

The agency has cautioned the public to be vigilant against scammers who may attempt to exploit unsuspecting applicants during the recruitment period.

Applications are invited for positions in the Superintendent, Inspector, and Customs Assistant cadres as part of the Service’s plan to recruit 3,927 officers in 2025.

This initiative is aimed at enhancing trade facilitation and supporting Nigeria’s economic recovery efforts.

“Our recruitment is entirely free and fair. At no stage do we charge fees. Anyone requesting payment is a scammer,” the agency emphasized, urging applicants to be wary of fraudulent schemes.

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The NCS outlined eligibility criteria, stating that applicants must be Nigerian citizens by birth, possess a valid National Identification Number (NIN), and have no criminal record or ongoing investigations.

Academic qualifications for the three cadres are as follows:

Superintendent Cadre: A university degree or Higher National Diploma (HND) along with an NYSC discharge or exemption certificate.

Inspectorate Cadre: A National Diploma (ND) or Nigeria Certificate in Education (NCE) from an accredited institution.

Customs Assistant Cadre: At least an O’Level certificate (WAEC or NECO).

In addition to these qualifications, the NCS stressed that all applicants must be physically and mentally fit, providing evidence of medical fitness from a recognized government hospital.

Nigeria Customs Service begins 2025 recruitment [How to apply]

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Tinubu to critics: I won’t reduce my cabinet size

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President Bola Ahmed Tinubu

Tinubu to critics: I won’t reduce my cabinet size

President Bola Tinubu on Monday unequivocally responded to critics who described his cabinet as “bloated” by saying he is unprepared to reduce the size of his 48-man cabinet.

“I am not ready to shrink” the size of my cabinet, Tinubu said during a media chat at his Bourdillon residence in the highbrow Ikoyi area of Lagos State.

“I am not prepared to bring down the size of my cabinet,” the former Lagos governor said, arguing that “efficiency” has been at the core of his selection of ministers.

The president also said he has no regret removing the petrol subsidy in May 2023, saying Nigeria cannot continue to be Father Christmas to neighbouring countries.

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“I don’t have any regrets whatsoever in removing petrol subsidy. We are spending our future, we were just deceiving ourselves, that reform was necessary,” he told reporters.

Tinubu appointed 48 ministers in August 2023, three months after his inauguration. The Senate immediately screened and confirmed the ministers. One of the ministers, Betta Edu, was suspended in January while another, Simon Lalong, moved to the Senate.

There were calls for the President to reshuffle his cabinet as many Nigerians have not been impressed by the performance of some of the ministers, especially in the face of unprecedented inflation, excruciating economic situation and rising insecurity.

In October 2024, Tinubu re-assigned 10 ministers to new ministerial portfolios and appointed seven new ministers for Senate confirmation. He also sacked five of his ministers but critics insist that the President’s cabinet remains large, especially with the creation of a Livestock Ministry with a minister.

 

Tinubu to critics: I won’t reduce my cabinet size

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Tinubu: Food stampede incidents, grave error 

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Tinubu: Food stampede incidents, grave error 

..Don’t publicise gifts distribution if you don’t have enough

 

President Bola Tinubu has described the recent three stampede incidents during distribution of relief materials to children and others as a grave error.

He told people to be more organised and stay away from giving palliative or publicity of the giving if they had insufficient materials.

He stated this during his first presidential media chat on Monday.

The President said he had been sharing palliatives in his Lagos residence for 25 years without any incident and blamed the recent food stampedes in the country on poor organisation.

A total of 35 children died on December 18 during a stampede that happened at a funfair event in Ibadan, Oyo State.

10 people, including children, also died on December 21 in another stampede at the Holy Trinity Catholic Church in the Maitama district of Abuja during the distribution of palliatives.

Another 22 people were reported dead during a rice distribution event at Amaranta Stadium in Ojika, Ihiala LGA, on the same day.

“It’s unfortunate and very sad, but we will continue to learn from our mistakes. I see this as a grave error on the part of the organisers,” he said.

But the President insisted that the incidents should not dampen the “happiness of the season”.

“It is very sad that people are not well organised. We just have to be more disciplined in our society. Condolences to those who lost members, but it is good to give,” Tinubu said.

“I’ve been giving out foodstuff and commodities, including envelopes in Bourdillon, for the last 25 years, and I’ve never experienced this kind of incident because we are organised and disciplined.

“If you know you won’t have enough to give, don’t attempt to give or publicise it.”

The President compared the situation to food banks in countries such as the United States of America (USA) and Britain, noting their structured approach.

“Every society, even in America, has food banks. They have hungry people. In Britain, they have food banks and warehouses, and they are organised. They take turns m lining up and collect,” he added.

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