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Naira redesign without National Assembly approval illegal, says Falana

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Only the approval by President Muhammadu Buhari for the ongoing redesign of some naira notes is not sufficient to give the project a legal stand, human rights lawyer Femi Falana has said.

He said the approval of the National Assembly was necessary, without which the effort could be declared illegal if challenged in court.

On November 23, Buhari unveiled the new currency notes at the state house, Abuja.

The redesigned naira notes are expected to be in circulation on December 15.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), on October 26 announced the plan to redesign the naira to control money supply and aid security agencies in tackling illicit financial flows.

Minister of Finance, Budget and National Planning, Zainab Ahmed, said her ministry was not carried along.

Falana, in a statement on Sunday, said the President’s endorsement of the CBN’s naira redesign policy was not legally sufficient.

He said the President should have presented a “money bill” to the national assembly to seek approval for the funds used for the project.

Falana said the expense is not captured in the 2022 budget, adding that the President must comply with the provision of section 59 of the 1999 constitution (as amended).

“Thr official endorsement is not sufficient as the president is mandatorily required to present a money bill to the national assembly for the withdrawal of the billions of naira from public funds earmarked for the printing of the new naira notes,” the statement read.

“Specifically, section 59 of the constitution requires ‘an appropriation bill or supplementary bill including any other bill for the payment, issue or withdrawal from the Consolidated Revenue Fund or any other public fund of the Federation of any money charged thereon or any alteration in the amount of such payment, issue or withdrawal.

“Since the fund for the printing of the new naira notes is not captured in the 2022 appropriation bill, the President is advised to prepare and present a supplementary bill to the national assembly to authorise the withdrawal of public fund from any account of the federation for printing the new naira notes.

“Otherwise, the printing of the new naira without appropriation by the national assembly may be declared illegal and unconstitutional if it is challenged in a court of competent jurisdiction.”

Railway

Police arrest two suspected train vandals in Lagos

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The police in Lagos have arrested two men suspected to specialise in vandalising and stealing railway track.

They were said to have been arrested in the early hours of Monday January 30 while conveying in a private car some pieces of cut off rail track to an unknown destination.

Spokesperson for the Lagos State Police Command, SP Benjamin Hundeyin, disclosed the arrest of the two suspects on his Twitter handle.

He stated, ”At about 1am today, a patrol team from Ijora Badia Division intercepted a Mitsubishi Lancer car conveying vandalised railway tracks. The two occupants of the vehicle have been arrested. Investigation is ongoing.”

Some incidents of train derailment in parts of the country have been traced to sudden damage to rail track suspected to have been done by vandals.

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Railway

Updated: Abuja-Kaduna train services to resume Tuesday, says NRC

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The suspended Abuja-Kaduna fast train will resume operations tomorrow, Tuesday January 31, 2023, the Nigerian Railway Corporation has said.

The train service was suspended by the NRC last week after a derailment recorded at the Kubwa Station on Friday January 27.

A statement announcing the recommencement of the train signed by the NRC Director of Operations, Niyi Alli, obtained on Monday, read, “The board and management of the Nigerian Railway Corporation is pleased to announce the recommencement of the Abuja-Kaduna Train Service which was suspended on Friday 27th January 2023 due to the derailment that occured at Kubwa Station on the same date.
“The service will resume on Tuesday 31st January 2023 with the following daily schedule; KA2 departs Rigasa at 0700; Ak1 departs Idu at 10.00; KA4 departs RIGASA at 13.00hrs; AK3 departs idu at 16.00.

“However on Wednesdays only KA2 will depart Rigasa at 0700 and and AK 4 will depart Idu at 16.00.
“The corporation once again regrets any inconvenience our esteemed passengers may have experienced as a result of the temporary suspension of the service.”

 

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Auto

Lagos gov, FRSC boss for Nigeria Auto Awards where Chinese, popular brands will flex muscles

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The Lagos State Governor, Babajide Sanwo-Olu, and the Corps Marshal of the Federal Road Safety Corps (FRSC), Dauda Biu, will be special guests at the forthcoming Nigeria auto industry award.

The award scheduled to hold at the Oriental Hotel in Victoria Island, Lagos, on February 9, 2023 will witness the emergence of the car of year (2022), outstanding pickup and best-performing truck in Nigeria, among others, where both popular brands are competing with Chinese products.

According to the organisers, Nigeria Auto Journalists Association, other stakeholders that have also indicated interest to be part of the prestigious award ceremony are Toyota Nigeria Limited (TNL), CFAO Motors, Dangote Peugeot, Kewalram Nigeria Limitedrarf, Mikano Motors and Lanre Shittu Motors.

RT Briscoe, Elizade Autoland, Jet System, Nord Motors, Autochek, GUO Transport, among others have equally confirmed their participation in the formost auto industry event in the country.

Already, finalists have been shortlisted for the auto awards, with GAC GS4, Geely Coolray and Suzuki S-Presso nominated for the ultimate car-of-the-year award category.

NAJA Auto Awards is an annual event that celebrates auto brands across the entire industry value chain in Nigeria.

According to the awards committee, dozens of distinguished automotive journalists from different mediums selected the finalists based on their evaluation of each eligible vehicle as part of their professional work.

In the Truck-of-the-Year category, the contest will involve Sinotruk by Dangote, Shacman truck by TSS and JAC truck from Lanre Shittu Motors.

Innoson, Mikano and GAC will slug it out in the Assembly Plant-of-the-Year category.

In the luxury car segment, Porsche, Mercedes and BMW models are the front runners.

Elizade Autoland (JAC), Stallion Hyundai and CFAO Motors will battle for the outstanding auto workshop honour.

In the SUV category (compact), Kia Selto, Geely Coolray and GAC GS4 have been nominated.

For Large SUV, Toyota Land Cruiser will lock horns with GAC GS8, BMW X7 and Range Rover (Autobiography).

Toyota Hilux, Mitsubishi L200 and Ford Ranger will battle for the Best Pickup award.

Lanre Shittu (JAC truck), TSS (Shacman) and Dangote Sinotruk will also battle again for the truck plant of the year award.

Giving insights into the nominees, Chairman of the 2022 Award Committee, Rasheed Bisiriyu, said all vehicles nominated in the various categories represent exceptional value and designs.

“We are using our respected, trusted platform to recognise and acknowledge best-performing brands in different segments and categories across the entire auto value chain.”

According to him, the award event, which has now become a major industry show, celebrates and rewards automotive excellence.

He also disclosed that the Managing Director of RT Briscoe, Mr Seyi Onajide, and Deputy Managing Director of CFAO Motors, Mr Kunle Jaiyesimi, would be honoured with the Auto Personality of the year in recognition of their immense contributions to the development of Nigeria’s auto industry.

In his own comment, Chairman of NAJA, Mike Ochonma, said the auto journalist body has always believed in bringing together all the stakeholders in the automotive sector to build a stronger community and strengthen consumers’ confidence and trust in the industry and their brands.

“I would like to congratulate all the nominees for the 2022 edition and look forward to their presence at the grand ceremony,” he added.

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