Tag: President Buhari

President Buhari urged to adhere to supreme court ruling – Financial expert, Idakolo

An Economic expert, Gbolade Idakolo has appealed to president Buhari to give directive to the Governor of the Central Bank of Nigeria, Godwin Emefiele, to obey the supreme court’s judgment on the validity of the old naira notes.

Idakolo made this appeal while granting interview with journalist on an online medium in Lagos, he advised president Buhari to quicklt give the directive to the CBN governor inorder for the old notes to be released into circulation.

“This is a welcome development; the naira redesign policy has shrunk the economy by over a trillion in business losses. Many SMEs have closed shops due to their direct dealings with cash. The policy increased hardship to the stressed population, and the Supreme Court judgement is a high relief.

“The pronouncement of the President-elect and his PCC members have already stated that he would reverse the policy. The President should immediately direct the CBN governor to revert to the status quo ante.”

Also, an economist, Paul Alake, has disclosed that there needs to be more clarity on how the old N500 and N1000 notes return into circulation.

He stated this on Friday during an Arise television interview in his reaction to the Supreme Court judgement on the validity of old naira notes till 31 December.

The financial expert wondered how the N2.1 trillion allegedly withdrawn by the Central Bank of Nigeria would be re-circulated.

According to him, the judgment would not be impactful if the old notes were not released by the CBN back into the banking system.

“Here is the question, where is the money? It has been said old and new notes could be spent concurrently. Recall that the Central Bank of Nigeria said N2.1 trillion has been withdrawn from the economy.

“Would there be a way to enforce that old naira notes are circulated into the economy again? What the court has said is clarity on who will release the old naira notes back into the financial systems.

“If the money is not released in the financial sector by the Central Bank of Nigeria, the judgement may not have any effect.”

Nigerians have continued to suffer from the hardship brought upon them by naira scarcity. However, there is hope that the Supreme Court’s decision would restore respite.

March 3, 2023
President Buhari’s disobedience of Supreme court order punishable by law – Barrister Abakpa

Barrister Matthew Abakpa a senior legal practitioner based in Rivers state has berated president Buhari for not abiding by the Supreme court order, saying the act is punishable by Law.

Abakpa noted that the decision by Buhari to still invalidate the old N500 and N1,000 notes despite the Supreme Court order was punishable with imprisonment.

Following the redesigning of the Naira notes, the apex bank had fixed February 10 as the deadline for the notes to remain as legal tender in the country.

Some governors elected under the platform of the ruling All Progressives Congress, APC, however, dragged the Federal Government to the Supreme Court in a move to stop the execution of the stipulated deadline.

Responding to an ex parte application filed by the Kaduna, Kogi and Zamfara State governments, the Supreme Court on February 8, stopped the CBN from effecting its ban on the old notes pending the hearing and determination of the case on Wednesday, February 15.

The hearing which was expected to take place on Wednesday, was adjourned to February 22. The apex court insisted that the old Naira notes would remain in circulation.

But President Buhari in a nationwide broadcast on Thursday, directed the CBN to release the old N200 notes to ease the pains of Nigerians.

Contrary to the Supreme Court order, the president noted that the old N500 and N1000 would no longer be legal tender.

In his reactions on Thursday, the legal luminary said the president’s action against the Supreme Court order was not just “a flagrant disobedience but also a contempt of court”.

According to the lawyer, only immunity saved the president, stating that his action was punishable with imprisonment.

He said, “His (Buhari) broadcast extending only the N200 old note as legal tender and invalidating N500 and N1000 notes is not only a flagrant disobedience to court order but a contempt of court, punishable with imprisonment, but for his immunity.”

February 17, 2023
New Notes: CBN Governor, President Buhari meet in Abuja

The Central Bank of Nigeria (CBN) Godwin Emefiele today met with President Muhammadu Buhari at the Presidential Villa Abuja.

It was gathered that this is the third time Emefiele would be meeting privately with Buhari since the cash crunch started in the country.

The CBN Governor, however, did not speak to journalists as he left the Presidential Villa.

The agenda of the meeting is, however, unknown at the time of filing the report.

Since February 10, Nigerians have been hit by Naira scarcity due to the swap of the currency.

CBN had redesigned N200, N500, and N1000 notes which commenced in December 2022.

The old notes were meant to cease as the country’s legal tender but checks show that it’s still being used for transaction across the country.

Recall that the Supreme court ruled last week that the CBN should suspend the February 10 directive it gave for the deadline of the old notes as a legal tender in the country.

Checks by TheNewsGuru (TNG)correspondent in Ogun state show that many banks are under lock and keys citing scarcity of cash as the reason.

Meanwhile, it’s also observed that POS agents across the country are charging exorbitantly and still doing business with the old notes.

February 13, 2023
President Buhari campaigns for Tinubu in Katsina, says he’ll consolidate on my achievements

Nigeria’s president Muhammadu Buhari has urged Nigerians to vote for the candidate of the All Progressives Congress (APC) presidential candidate, Bola Ahmed Tinubu and other candidates of the party in the forthcoing general elections in the country.

Buhari added that Tinubu will consolidate on the achievements of his administration.

The President made the plea at the APC mega rally held at Muhammadu Dikko stadium in Katsina.

He regretted that from the inception of his administration, the revenue that accrued to the federal government dropped significantly due to the activities of criminals that engaged in crude oil theft and vandalization of oil pipelines and other installations.

Continuing, he said that his administration has executed several infrastructural and human development projects across the country.

Buhari also condoled with the government and people of the state over the killing of one hundred vigilante operatives by armed bandits in Kankara Local Government Area of the state over the weekend.

He said the federal government will not relent in its fight against armed banditry and other acts of terrorism while citing some efforts in the ongoing fight against Boko Haram insurgents in the north east.

In his remarks, the APC Presidential candidate, Chief Bola Ahmed Tinubu, said he was poised to bring about socio-economic transformation of the country as he did when he served as Lagos State governor from 1999 to 2007.

He urged the electorate in the state, the North west zone and other parts of the country to mobilize support and vote for APC candidates in all elective positions to sustain good governance at all levels.

According to the Independent National Electoral Commission (INEC) the presidential and National Assembly election will hold on the 25th of February 2023, while Gubernatorial and state Assembly election will hold on March 11 2023.

February 7, 2023
Grammy Awards: President Buhari hails Tems, Burna Boy

Nigeria’s President Muhammadu Buhari has congratulated singer Tems for doing herself and the nation proud for carting home “‘Best Melodic Rap Performance” category at the Grammy Awards held on Sunday in Los Angeles Unites States.

A statement issued on Monday by Femi Adesina, Special Adviser to the President
(Media & Publicity), the President extolled Temilade Openiyi, popularly known as Tems, for showcasing her talent to the world, with dedication and hard work, which, again, has placed Nigeria in the spotlight for excellence.

President Buhari hailed all Nigerian nominees for this year’s Grammy, including Burna Boy, for doing themselves and the doing proud, saying they pursued their passion with vigour.

Continuing, he said the artistes have continued to reinvent global entertainment, with creativity.

Buhari thanked the creative industry, particularly managers, producers and directors, for encouraging talents, like Tems, who have taken Nigeria’s culture and tourism to the world, further displaying the resourcefulness and potentials of a great nation.

The number 1 citizen thanked the artises and urged them not to relent on their oars in launching the country to global reckoning with their act.

February 7, 2023
2023: My loyalty to Tinubu is unparalleled- President Buhari

President Muhammadu Buhari has promised to stand by the presidential candidate of the All Progressives Congress, (APC) Bola Ahmed Tinubu, saying his loyalty for him is unparalleled.

The number one citizen promised to keep campaigning for Tinubu for the 2023 elections.

The president disclosed this while addressing Nigerians during APC presidential campaign rally in Nasarawa State.

“I congratulate you and I can assure you we are going to win through and through; I’ll continue to campaign for Bola Ahmed Tinubu. He’s a committed Nigerian and I believe he’ll give all he has to this country and to you Nigerians. I thank you very much,” Buhari said.

The president’s remark is coming amidst claims of a rift between Tinubu and certain elements within the presidency.

Lately, Tinubu had said the current fuel scarcity and naira redesign policy by the Central Bank of Nigeria, CBN, was targeted at him.

The APC flagbearer said Nigerians would vote for him despite the current situation in the country.

Tinubu further claimed that some elements in the Presidential Villa were working against his presidential ambition.

His claim was corroborated by Governor Nasir El-Rufai of Kaduna State.

However, president Buhari started to speak for Tinubu after hold a crucial meeting with APC governors in the country few days ago.

February 5, 2023
2023: CAN hails president Buhari for propagating free, fair polls

The Christian Association of Nigeria (CAN) Kaduna State Chapter, has praised president Buhari for insisting on a free and fair election come February 25, 2023.

The Christian body also hailed the president for the 10-day extension of the deadline for the old currency to lose its legal tender status by Mr President is a step in the right direction.

Rev. John Joseph Hayab, Kaduna State CAN chairman, in a statement said, “The Christian Association of Nigeria (CAN) Kaduna State Chapter wishes to salute President Buhari for insisting that the 2023 elections must be free and devoid of vote buying. We also like to thank the President for the 10 days extension of the deadline for the old currency to lose its legal tender status.”

CAN added that the Central Bank of Nigeria (CBN) should endeavour to make new notes circulate to supress the suffering already being experienced by Nigerians.

He explained that the citizenry is prepared to support the President on the matter of the deadline, especially if it would assist to ease the tension in the country, no matter what the temporary pains Nigerians may face.

He noted that bank managers should be investigated if found to be hoarding the new naira note to create artificial scarcity and help money-bag politicians to get the new notes.

CAN noted that the president should try and fix the fuel scarcity issues before election day.

February 5, 2023
Naira Redesign: President Buhari to take major decision next week

President Muhammadu Buhari has said that he would take a major decision concerning the naira redesign and its distribution in the next one week.

The president’s statement was made known by his media aide, Garba Shehu on Friday, he said that the request is sequel to a meeting held with the governors forum at the state house Abuja on Friday.

Buhari gave indications that he would within seven days resolve the cash crunch plaguing Nigerians as a result of the policy of the Central Bank of Nigeria to change high-value Naira notes with new ones.

Meanwhile, the country has been hit with shortage of the new notes while the old notes are gradually phased out.

It was gathered that the Progressive Governors Forum appealed to the president to reconsider his stance, noting that the policy was already threatening the government effort to transform the economy.

However, Buhari said he believes the currency re-design will give a boost to the economy and provide long-term benefits while expressing doubts about the commitment of banks in particular to the success of the policy.

He indicted some bank management, saying, “Some banks are inefficient and only concerned about themselves”,

The President, also added that “even if a year is added, problems associated with selfishness and greed won’t go away.”

According to him, he had seen television reports about cash shortages and hardship to local businesses and ordinary people and gave assurances that the balance of seven of the 10-day extension will be used to crack down on whatever stood in the way of successful implementation.

“I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” the President assured.

Meanwhile, the Governors told the President that, while they agreed that his decision on the renewal of currency was good and they are fully in support, its execution had been botched and their constituents were becoming increasingly upset.

They told the President that, as leaders of the government and party in their different states, they were becoming anxious about a slump in the economy and the series of elections that are coming. They requested the President to use his powers to direct the concurrent flourish of the new and old notes till the end of the year.

The President said when he considered approving the policy, he demanded an undertaking from the CBN that no new notes will be printed in a foreign country and they in turn gave him assurances that there was enough capacity, manpower and equipment to print the currency for local needs. He said he needed to go back to find out what was actually happening.

Buhari told the Governors that, being closer to the people, he had heard their cries and will act in a way that there will be a solution.

The CBN had already extended the deadline to spend the old notes till February 10, 2023, however, with the president’s meeting with governors forum, it remains to be seen if there will be another extension.

February 3, 2023
“I have done my best, and I hope history will be kind to me”- Buhari

Nigeria’s President, Muhammadu Buhari, has accused some members of the elite in the country of being selfish, saying “I have done my best, and I hope history will be kind to me”.

The President spoke at the Katsina State Government House during a lunch by the state government in his honour on Thursday.

President Buhari, who visited state on a two-day working visit to inaugurate some legacy projects of the Aminu Masari Administration, lamented wasted resources by previous administrations that could have gone into infrastructure when a barrel of crude oil sold for $100.

Drawing a comparison between 1999/2015 and 2015/2023, he said: “Our elite did not put their heads together in the years past to move the country forward. They were very selfish.

“I insist that they should think of the country more than themselves. By doing so, they can join forces for the good of the country.”

President Buhari also said he believed history will be kind to his administration, going by the difference that has been made in security and the economy.

Inspecting and inaugurating projects on health, education, and road infrastructure, President Buhari praised Governor Aminu Bello Masari.

Projects he inaugurated are the Kofar Kaura Underpass, Kofar Kwaya Underpass, Kofar Kaura Water Works, Katsina State Internal Revenue House, Muhammadu Buhari Meteorological Institute by the Ministry of Aviation, Darma Rice Mill in Batagarwa and Katsina State General Hospital.

The President also inspected ongoing work on the first flyover in Katsina, which has reached 90 per cent completion.

President Buhari said the Kano-Katsina-Maradi (Niger Republic) rail line was designed to enhance economic activities between Nigeria and Niger.

“If you want to enjoy peace and harmony, you must be very friendly with your neighbour. That is why when I came into office, I started by visiting all our neighbours,” he added.

January 27, 2023
2023: Tinubu berates president Buhari’s administration over fuel scarcity, new notes

The presidential candidate of the All Progressives Congress, (APC) Bola Tinubu, has berated the administration of President Muhammadu Buhari over the new naira redesign and the fuel scarcity that has persisted for many months now.

Tinubu alleged that some persons were sabotaging his presidential ambition through the new naira redesign and the scarcity of petrol.

The former Lagos governor made this statement during his campaign rally in Abeokuta, the Ogun State capital on Tuesday.

According to Tinubu, the authorities were deliberately hoarding petrol and naira notes, a development he speculated was calculated to affect his chances negatively.

Jagaban as he’s fondly called threatened that he and his supporters would hijack power from the current government through their permanent voter’s cards, PVC.

“With our PVC, we will wrest power from them. Even if they said there is no fuel, we will trek. They are full of hanky panky. They are cleverly creating fuel scarcity. Let the fuel continue to be scarce, they know where they hoard it.

January 25, 2023