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Naira re-design and swap policy: House c’ttee rejects CBN extension, says position of law sacrosanct
The House of Representatives ad hoc committee on new naira re-design and naira swap policy has rejected the 10 days extension granted by the Central Bank of Nigeria (CBN) for the exchange of old naira notes.
The CBN had fixed January 31st as the deadline for the exchange of the old naira notes; N200, N500 and N1000.
The CBN governor, Godwin Emefiele, on Sunday, said President Muhammadu Buhari gave permission for the deadline to be extended to February 10.
In its swift reaction, the adhoc committee, chaired by the leader of the House, Hon. Alhassan Ado Doguwa, rejected the extension, insisting that the CBN must comply with sections 20 sub 3, 4, and 5 of the CBN act.
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Recall the House, during its sitting on Tuesday, following the outcry by Nigerians, constituted the ad hoc committee to look into the issue.
Doguwa said; “The 10-day extension for the exchange of the old naira notes is not the solution: We as a legislative committee with a constitutional mandate of the house, would only accept clear compliance with section 20 sub 3, 4, and 5 of the CBN act and nothing more.
“Nigeria as a developing economy and a nascent democracy must respect the principle of the rule of law. And the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the Adhoc committee.”
He said under his chairmanship, the committee would continue its work until it gets the demands of Nigerians addressed in accordance with the laws of the land.
Describing the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, Doguwa said the CBN governor must appear before or stand the risk of being arrested on the strength of legislative writs signed by Hon. Speaker on Monday.
He also said the policy is capable of frustrating the forthcoming general elections.
“Security agencies and their operations especially at the states level are generally funded through cash advances and direct table payments of allowances to operatives during elections,” he said. Daily Trust
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Suspected IPOB members kill two soldiers in Imo
Suspected IPOB members kill two soldiers in Imo
The Nigerian Army has confirmed the death of two soldiers and the theft of their weapons by operatives of the Eastern Security Network (ESN), the militant arm of the Indigenous People of Biafra (IPOB).
IPOB is a separatist group advocating for the creation of the Republic of Biafra, citing longstanding grievances over the marginalization of Nigeria’s South-East region since the Biafra-Nigeria civil war.
In a statement released on Saturday, the Nigerian Army explained that the incident occurred in Osina, Ideator North Local Government Area of Imo State, when troops from the 34 Artillery Brigade, returning from a routine patrol, responded to an emergency call about an attack on Osina Community by IPOB/ESN forces.
The statement revealed that upon arrival, the troops engaged the “terrorists” with overwhelming firepower, resulting in casualties among the attackers. However, the Army did not provide specific numbers, only noting that the “dissidents” eventually withdrew in disarray.
“Unfortunately, two security agents had been killed in action and one other missing in action, with their weapons—a AK-47 rifle and a tear gas launcher—being seized by the terrorists,” the statement said.
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The Army confirmed that the bodies of the fallen soldiers had been recovered, and the troops pursued the fleeing militants.
“Contact was again made with the criminal IPOB/ESN elements at Nkwachi Community, and in the firefight that ensued, one of the dissidents was neutralized while others, unable to withstand the troop’s firepower, retreated into the nearby forest. One AK-47 rifle with a fully loaded magazine was recovered, ” the statement said, adding that the troops continued their pursuit into Umalouma forest, where another intense exchange of fire took place.
“The dissidents eventually abandoned their weapons due to the troops’ superior firepower and scattered into the dense forest with severe gunshot wounds. An additional four AK-47 rifles, one Fabrique Nationale rifle, and two magazines were recovered,” the statement added.
The Army assured the public that operations would continue, with efforts to track down and eliminate the remaining criminals. “Further exploitation is ongoing as troops continue to track down the injured terrorists and flush them out of their hideouts and treatment locations,” the statement stated. “We urge all IPOB/ESN elements and other criminals hiding in the bushes to surrender to the nearest troops or face defeat, as the Brigade will ensure that the people of Imo celebrate the Yuletide season in peace, free from fear or intimidation.”
The Nigerian Army also called on the people of Imo State to continue providing timely intelligence to assist in the fight against criminal elements and help rid the state of lawlessness.
Suspected IPOB members kill two soldiers in Imo
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13 passengers burnt to death in Ondo auto crash
13 passengers burnt to death in Ondo auto crash
The Federal Road Safety Corps, Ondo State Sector Command, says no fewer than 13 people were burnt to death along Ikare-Akoko/ Owo Road on Saturday in the state.
Dr Samuel Ibitoye, FRSC State Sector Commander made this known in a statement made available to the News Agency of Nigeria on Saturday in Akure.
“FRSC regrets to inform the public about a road traffic crash that occurred today 28 December, 2024 at Abule Panu before Ose Bridge, on Owo-Ikare highway, Ondo State.
“The fatal crash which occurred at about 10:14 AM claimed 13 lives of commuters in two buses.
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“A total of 14 people were involved, out of which 13 were burnt beyond recognition, while only one was rescued alive with serious injuries.
“Eyewitness account indicates that the bus coming from Ikare axis had a tyre burst which led to loss of control.
“This was resultant in a head-on collision with the bus loaded with fabric coming from Owo axis.
“Immediately after the collision, the two buses went up in flames. The men of FRSC, Police and Fire Service were swiftly at the crash scene for rescue,” he said.
The FRSC boss said that the injured victim was taken to Federal Medical Centre, Owo, while the deceased were deposited at the morgue of the same hospital.
He, therefore, advised drivers to exercise patience on the roads and passionately maintain their vehicles.
“Passengers are also encouraged to speak out against dangerous driving because road safety is a concern of all,” Ibitoye said.
13 passengers burnt to death in Ondo auto crash
NAN
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NDDC empowers Niger Delta young entrepreneurs with N30bn
NDDC empowers Niger Delta young entrepreneurs with N30bn
The Niger Delta Development Commission (NDDC) has pledged to galvanise the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) by releasing N30 billion counterpart fund for the development of young entrepreneurs.
The NDDC Managing Director, Dr Samuel Ogbuku who disclosed this in Port Harcourt, restated the Commission’s commitment to empowering the people of the region through economic programmes.
He highlighted the NDCCITMA’s role in training youths, supporting SMEs, and designing industry-friendly skill development programmes.
He said, “We are providing N30 billion to fund projects and support businesses to ensure the sustainability of our youth development initiatives.
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“We will release the matching funds so the entrepreneurs can access them to boost their businesses. In our 2024 budget, we have provision for N30 billion which we are to use as matching funds for the chamber of commerce. We are working towards releasing this fund so that the chamber of commerce can start work in earnest.
“The Niger Delta Chamber of Commerce will strengthen young entrepreneurs in the region. It is no longer acceptable for our youths to be contented with receiving stipends while at home doing nothing.
Ogbuku remarked that the Commission was collaborating with the Bank of Industry, BOI, to ensure the success of NDDC’s youth development programmes.
“The current NDDC Board and Management choose to look at sustainable options in designing youth programmes. In the past, we did a lot in supporting entrepreneurs in the Niger Delta but these activities were not properly documented and backed with verifiable data.
“Our new strategy is to support genuine entrepreneurs rather than people who are just portfolio entrepreneurs because we know that the government alone cannot employ everybody. Many university graduates are coming out, and the government cannot employ all of them. However, we can empower them by creating an environment where they can engage other persons to expand their businesses.”
NDDC empowers Niger Delta young entrepreneurs with N30bn
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