We only need presidential, not ministerial approval for naira redesign; CBN replies finance minister - Newstrends
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We only need presidential, not ministerial approval for naira redesign; CBN replies finance minister

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Central Bank Governor, Godwin Emefiele and Minister of Finance, Zainab Ahmed

The Central Bank of Nigeria has said the only approval it requires for its planned redesign of the naira is that of the President which it said it got.
This was in response to the Minister of Finance, Zainab Ahmed, who told lawmakers in Abuja on Friday that her ministry was not consulted before the apex bank announced its decision.
Spokesman for the CBN, Mr. Osita Nwanisobi, said the CBN followed the law and due process to carry out the exercise, which he said was even 12 years due.
He spoke with some journalists in Abuja and expressed surprise at the minister’s claim.
He added that the CBN remains a very thorough institution that follows due process in its policy actions.
Nwanisobi cited provisions of section 2(b), section 18(a), and section 19(a)(b) of the CBN Act 2007, which empowers the CBN to act so, adding that the approval of the president was duly sought and obtained.

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He said this was put into writing to redesign, produce, release and circulate new series of N200, N500, and N1,000 banknotes.
He said that currency management in the country had faced several escalating challenges which threatened the integrity of the currency.
He said the threat also affected the CBN, and the country, adding that every top-rate Central Bank was committed to safeguarding the integrity of the local legal tender, the efficiency of its supply, as well as its efficacy in the conduct of monetary policy.
Speaking on the timing of the redesign, Nwanisobi explained that the CBN had even tarried for too long considering that it had to wait 20 years to carry out a redesign, whereas the standard practice globally was for central banks to redesign, produce and circulate new local legal tender every five to eight years.
While assuring Nigerians that the currency redesign exercise was purely a central banking exercise and not targeted at any group, the CBN spokesman expressed optimism that the effort would, among other goals, deepen Nigeria’s push to entrench a cashless economy in the face of increased minting of the eNaira.

This, he said, was in addition to helping to curb the cases of terrorism and kidnapping due to access of persons to the large volume of money outside the banking system used as a source of funds for ransom payments.

Nwanisobi urged Nigerians to support the naira redesign project, stressing that it is for the greater good of the economy.

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Tinubu Marks 74th Birthday with Special Fund for Soldiers, Fallen Heroes’ Families

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President Bola Ahmed Tinubu

Tinubu Marks 74th Birthday with Special Fund for Soldiers, Fallen Heroes’ Families

President Bola Ahmed Tinubu has announced the creation of a special fund to support members of the Nigerian Armed Forces, including personnel wounded in active service and families of soldiers who died defending the nation.

The President made the disclosure in a statement issued on Sunday to commemorate his 74th birthday, describing the initiative as a personal commitment to honour the sacrifices of military personnel.

According to him, he has directed the Accountant-General of the Federation to establish a dedicated account that will serve as the financial base for the intervention.

“On this my 74th birthday, I celebrate the valiant men and women of our Armed Forces,” Tinubu stated, paying tribute to the courage and dedication of Nigeria’s military.

He explained that the fund is designed to cater to soldiers injured in the line of duty as well as dependents of those who lost their lives while serving the country.

“Today, I have directed the Accountant-General of the Federation to establish a special account for a fund dedicated to those who serve, those wounded in the line of duty, and the families of those who have paid the ultimate price,” he said.

In a significant personal gesture, the President also pledged to donate all his salaries since assuming office to serve as seed funding for the initiative. He noted that this contribution would be made irrespective of existing insurance and welfare provisions available to members of the armed forces.

“As a personal commitment, all my salaries since assuming office will be paid into this account as seed funding,” he added.

Tinubu further called on state governors, members of the National Assembly, private sector stakeholders and well-meaning Nigerians to support the initiative in order to strengthen welfare support for military personnel and their families.

The announcement has been widely seen as part of ongoing efforts by the administration to boost morale within the armed forces amid persistent security challenges across the country.

Tinubu Marks 74th Birthday with Special Fund for Soldiers, Fallen Heroes’ Families

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From Royal Wedding to Courtroom War: Gana’s Son, Wife in Explosive Split

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From Royal Wedding to Courtroom War: Gana’s Son, Wife in Explosive Split

What began as one of Nigeria’s most glamorous society weddings in 2014 has reportedly unraveled into a tense legal showdown, marked by allegations, silence, and an escalating custody dispute.

When James Gana, son of elder statesman and former Minister of Information Jerry Gana, married Akwa Ibom royal figure Jessica Edet, the ceremony drew national attention. Political heavyweights, traditional rulers, and high society figures gathered in Akwa Ibom State to witness what many described as a symbolic union of influence and prestige.

More than a decade later, that image of unity has sharply faded.

Cracks Beneath the Surface

Multiple sources familiar with the situation indicate that the marriage had been under strain for some time before the situation escalated into formal legal action. While details remain closely guarded, insiders suggest that irreconcilable differences may have led to the breakdown.

It is alleged that James Gana filed for divorce, though official court documents have not been made public to confirm this claim.

Custody Battle Emerges

At the center of the dispute is the couple’s son, with both parties reportedly seeking custody. Legal observers note that such battles, especially among high-profile families, often become prolonged and emotionally charged.

Family law practitioners contacted by our correspondent explain that Nigerian courts typically prioritize the welfare of the child, but outcomes can vary depending on circumstances presented during proceedings.

Allegations and Social Media Noise

The case has also been complicated by a wave of unverified claims circulating online, including controversial accusations targeted at Jessica Edet. Terms and insinuations trending on social media have added a layer of public scrutiny, though none of these claims have been substantiated in court.

Observers warn that such narratives, often amplified without evidence, risk distorting public perception and inflaming an already delicate situation.

Silence from Key Parties

Efforts to obtain official statements from both James Gana and Jessica Edet have so far yielded no response. Associates close to the families have also declined to comment, citing the sensitivity of the matter and ongoing legal proceedings.

From Celebration to Litigation

The reported breakdown of the marriage highlights how even the most celebrated unions can face private challenges far removed from public glamour. What was once a widely admired relationship has now become a subject of legal scrutiny and public speculation.

As proceedings continue, attention remains fixed on the courtroom, where the final outcome—particularly regarding custody—will likely define the next chapter of this high-profile separation.

From Royal Wedding to Courtroom War: Gana’s Son, Wife in Explosive Split

 

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Three Feared Dead as Journalists’ Bus Crashes on Enugu–Onitsha Expressway

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An accident scene
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Three Feared Dead as Journalists’ Bus Crashes on Enugu–Onitsha Expressway

At least three persons have been confirmed dead following a tragic motor accident along the notorious Onyeama Hills axis of the Enugu–Onitsha Expressway in Enugu.

The accident involved a black Toyota Sienna bus conveying journalists who were reportedly on an official assignment to Igbo-Etiti Local Government Area of the state. Several occupants of the vehicle sustained injuries of varying degrees.

Among those injured are Chimaroke Ugwu, a reporter with Nigerian Television Authority and Chairman of the NTA Chapel, alongside his cameraman, Jerry. Also affected are Kelechi Ehirim, a reporter with African Independent Television and Secretary of the Private Broadcast Chapel, as well as his cameraman, Ifeanyi Ogbodo.

The identities of the deceased victims were yet to be confirmed as of the time of filing this report.

Officials of the Federal Road Safety Corps and the police were at the scene carrying out rescue operations and managing traffic to prevent further incidents.

The Onyeama Hills stretch of the expressway has long been regarded as a high-risk corridor due to its steep terrain and frequent record of accidents. Authorities have commenced investigations to determine the immediate and remote causes of the crash.

Further updates are expected as more details emerge.

 

Three Feared Dead as Journalists’ Bus Crashes on Enugu–Onitsha Expressway

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