Tag: NAIRA SWAP

FG Naira Swap: “We will destroy commercial banks in Kano that refuse to accept old notes”, Gov. Ganduje warns

Aminu Imam

Kano State Governor, Abdullahi Umar Ganduje, has warned commercial banks operating in the State that he would destroy any bank that refuses to accept the old N500 and N1,000 notes. He made this known on Friday, during his inspection of palliatives meant for distribution to the citizens to cushion the effects of the hardship caused by the cashless policy. “Any bank that refuses to accept old five hundred and one thousand Naira notes will be destroyed. We will not tolerate such disobedience from any financial institution operating within our jurisdiction”,…

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APC stands with  governors over naira redesign, says Adamu

Aminu Imam

National Chairman of the All Progressives Congress (APC), Abdullahi Adamu, says the ruling party stands with the position of its governors on the naira redesign. Recall that the APC governors had asked the Supreme Court to declare the directive of President Muhammadu Buhari on the naira swap policy as unconstitutional. Adamu while speaking after a meeting, yesterday, in Abuja with the presidential candidate of the party, Bola Tinubu and APC Governors, said the Attorney-General of the Federation (AGF), Abubakar Malami, and the Central Bank of Nigeria (CBN) governor, Godwin Emefiele,…

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Naira Scarcity Attacks: Bank workers may begin strike on Monday

Aminu Imam

The challenge of accessing new Naira notes may worsen from tomorrow, Monday, with bank workers set to begin a strike. The planned industrial action by the Association of Senior Staff of Banks,Insurance and Financial Institution, (ASSBIFI), is due to attacks on bank workers by depositors of the old N1,000, N500 and N200 notes. The Association directed bankers to stay away in any State where banks are attacked by depositors owing to cash scarcity. The directive was contained in an issued statement dated February 17, titled: “Stay at home order” and…

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Alleged Treason: “Declare state of emergency in Kaduna; remove, arrest, try Gov., or apologise to Kanu and release him” – Reno Omokri to Buhari

Aminu Imam

Former special assistant to ex-President, Goodluck Jonathan, Reno Omokri, has reacted to the broadcast the governor of Kaduna state, Nasir El-Rufa’i had on Thursday, in which he overrode the directive of President Buhari and said that the old N200, N500 and N1,000 notes are still legal tenders in his State. Reno, a social media influencer, in a post shared on his Instagram page described Governor El-Rufai’s action as treason, and called for his arrest and trial. He wrote: “What Nasir El-Rufa’i has done in defying the Central Bank of Nigeria’s…

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CBN denies directing banks to accept old N500, N1,000 notes from customers

Aminu Imam

The Central Bank of Nigeria (CBN) has warned members of the public to disregard fake messages circulating on social media about the authorisation of Deposit Money Banks (DMBs) to collect old N500 and N1,000 banknotes from the public. Reports emerged yesterday, that the apex bank had made a u-turn and directed banks to collect old notes from Nigerians. However, reacting to the report in an issued statement yesterday, by its director of Corporate Communications, Osita Nwanisobi, the apex bank said it never gave such a directive. According to the statement, …

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Naira Scarcity: “El-Rufa’i’s comment treasonable” – Datti Baba-Ahmed 

Aminu Imam

The Labour Party (LP) vice presidential candidate, Datti Baba-Ahmed has said comments made by the Governor of Kaduna State, Nasir el-Rufa’i, on the naira redesign policy following the nationwide broadcast of President Muhammadu Buhari are treasonable. El-Rufa’i, during a state broadcast on Thursday, faulted the President on his directive to re-introduce just the old N200 banknote as part of measures to curb the cash crunch in the country. The Governor, who said the old N1,000 and N500 are still legal tenders in his state, stated that the naira redesign aims…

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“Kano Gov., caught pocketing dollars, is also fighting against Naira swap” – Prof. Odinkalu

Aminu Imam

Lawyer and Human Rights Activist, Prof. Chidi Odinkalu, has faulted the consolidated suit by 10 States governors against the Federal Government over the naira swap deadline. According to reports, Prof. Odinkalu, while talking from London, United Kingdom yesterday, claimed that the said governors do not have the love of Nigerians at heart and that was the reason why they are against the Naira swap development. He added that they so much wish to use the money to buy votes from poor voters and they are now angry because their plans…

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Naira Swap: Oil regulatory authority to sanction Filling Stations rejecting POS, transfer

Abdul-Azeez Ahmed Kadir

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations that reject the use of Point of Sale (POS) machines or bank transfers at their outlets. This is contained in a statement by Kimchi Apollo, General Manager, Corporate Communications and Stakeholders Management, NMDPRA, on Thursday in Abuja. The statement frowned at the act by the retail outlets due to the recent cash crunch brought about by the new Naira design. “It has come to the attention of the NMDPRA that some retail outlets are not accepting…

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Naira swap; VC tasks CBN on more currency in circulation to ease public outcry

Abdul-Azeez Ahmed Kadir

The Vice-Chanellor, Bells University of Technology, Ota, Ogun State, Professor Jetemiah Ojediran, has appealed to Central Bank of Nigeria (CBN) to release more funds into circulation, to reduce the sufferings of Nigerians. Ojediran made the appeal while speaking on Thursday in Ota, Ogun. The Supreme Court, on Wednesday, granted an interim injunction restraining the apex bank from enforcing the February10 deadline on Naira swap. He commended the decision of the court for restraining the CBN from enforcing the deadline on Naira swap. The vice-chancellor noted that the apex bank needed…

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Naira Swap/Cashless Economy: NSA raises alarm policy may affect troops in the field

Abdul-Azeez Ahmed Kadir
Nigerian Army Troops on operational duty

The National Security Adviser (NSA) Maj.-Gen. Mohammed Monguno (rtd), has said that the change of currency and cashless policy of the Central Bank of Nigeria (CBN), if not well thought out, may affect operations of troops in the field. Monguno made the observation when he appeared before an Ad-hoc Committee of the House of Representatives on change of currency and cashless policy on Thursday in Abuja. Represented by the Head of Defence Unit, Rear Admiral Abubakar Mustapha, the NSA said that even in advanced countries, such policies could affect operations…

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