Naira redesign crisis worsens as APC PCC, El- Rufai, two others battle FG
…File contempt proceeding against Malami, Emefiele
…As First Lady debunks May 1 old notes deadline post
…CBN sticks to Presidential directive to reissue only N200
…Keep your old Naira notes, Buhari, Emefiele will expire on Saturday — Oshiomole
…DSS debunks renewed investigations to arrest Emefiele over terrorism allegation
Olaseinde Gbenga & Joel Oladele, Abuja
Amidst scarcity of new Naira notes and attacks on banks by irate youth, Governor Nasir El- Rufai of Kaduna State and two others have filed contempt proceedings against the Attorney General of the Federation Abubakar Malami for refusing to comply with the directive of the Supreme Court to recirculate the old Naira notes of N200, N500 and N1,000.
Equally, Deputy Director General APC Presidential Campaign Council Adams Oshiomole has advised Nigerians to keep old Naira notes of N200, N500 and N1,000 because President Muhammadu Buhari and CBN Governor Godwin Emefiele will expire on Saturday Feb 25, 2023.
The contempt proceeding, hacking of Aisha Buhari’s social media handles, refusal of CBN to obey Supreme Court and directive by Deputy Director General APC Presidential Campaign Council for Nigerians to keep old Naira notes have further deepened the Naira Redesign crisis and scarcity of new Naira notes.
For instance, on Tuesday morning a post on the social media handles of Nigeria’s First Lady, Aisha Buhari, which went viral, claimed that the Central Bank of Nigeria (CBN) has ordered that the old N500 and N1,000 notes should remain legal tender till May 1, 2023 as against the directive of President Mohamadu Buhari in his broadcast last week.
Debunking the post, the wife of the President swiftly linked the alleged CBN press release posted on her Facebook and Instagram pages on Tuesday to hackers.
Reacting to the post, the First Lady charged security agencies to unveil the mastermind(s) of such an act as she’s so sure it can only be the handiwork of hackers.
She therefore put up a disclaimer that reads: “DISCLAIMER! DISCLAIMER!! It has come to my attention that a certain fake news was posted on my social media handle, Instagram which also directly connects to my Facebook page, earlier this morning. I have since directed that it should be deleted.
“This is without a doubt the criminal actions of the person(s) who were responsible for deleting quite a number of my posts since 2018 to late last year when I posted a video and picture of my hands with Henna design of ABAT insignia on the day I launched the APC Women Presidential Campaign Committee for Bola Ahmed Tinubu in Ilorin, Kwara State, my post on the event for the Traditional and Complementary Alternative Medicine (TCAM) conference and 17 other posts.
“This person is a hacker, criminally minded with the intention to continue attacking my reputation through my social media platforms. But I am assuring you that this is the first and last I am disclaiming fake news on my handle.
“It is the responsibility of the security agencies to find out who I am sharing my social media handles with, despite being verified accounts, and take all necessary actions.”
Meanwhile, in continuation of its legal war with the Federal Government over the Naira redesign policy, the Kaduna, Kogi, and Zamfara state governments have filed a contempt proceeding against the Attorney General of the Federation, Abubakar Malami, and the Governor of CBN, Godwin Emefiele, for failing to comply with the order of the Supreme Court suspending the ban on the old N200, N500, and N1,000 notes.
Recall that on February 8, 2023, the supreme court restrained the CBN from giving effect to the deadline on the use of old N200, N500, and N1,000 notes following an ex parte application brought by the three states.
However, the CBN has maintained its stance on the old Naira notes, while President Muhammadu Buhari, in a new directive, announced the recirculation of the old N200 notes till April 10.
The States, in the suit, are arguing that the implementation of the policy has caused untold hardship for Nigerians.
The AGF, who is the sole respondent, had, however, filed a preliminary objection to the suit, arguing that the Supreme Court lacks the jurisdiction to entertain the matter.
Malami also said the plaintiffs failed to join the CBN in the suit, which has just the AGF as the sole plaintiff.
Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states have joined the suit as co-plaintiffs, while Edo and Bayelsa states have joined the AGF as defendants.
In the fresh documents filed before the apex court, the three states – Kaduna, Kogi and Zamfara — cautioned the AGF and Emefiele about the consequences of their continued “failure” to comply with the apex court’s order made on February 8, 2023.
The two sets of Form 48, filed by the team of lawyers representing the three states, formed part of the applications now awaiting the Supreme Court’s consideration when proceedings resume on Wednesday.
CBN sticks to Presidential directive to reissue only N200 old notes
The CBN has reiterated that only N200 old notes are to be reissued and to circulate concurrently with the new notes in line with the president’s directive and urged members of the public to ignore what it described as fake news.
“The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the re-issuance and release of old N500 and N1,000 notes as legal tender in the country.
“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes. Members of the public are therefore advised to ignore this fake news.
“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please be guided accordingly,” CBN wrote.
…DSS debunks renewed investigations to arrest Emefiele over terrorism allegation
Meanwhile, while it was reported that the Department of State Services (DSS) has reportedly stepped up investigations in an effort to arrest and prosecute Emefiele on allegations bordering on terrorism financing, the secret Police has debunked this.
In a recent publication, details of a court documents revealed that Emefiele was accused of sabotaging the President Muhammadu Buhari-led administration, financing terrorism, aiding and abetting terrorism, and committing other economic crimes with the effect of undermining Nigeria’s national security.
It also accused the apex bank Governor of mismanaging the CBN subsidiary, NIRSAL, and the CBN’s Anchor Borrowers Programme.
The DSS alleged that Emefiele funded IPOB/ESN with both the resources he raised for his failed presidential bid last year and funds diverted from government coffers.
The department also accused Emefiele of “fraud, money laundering, round tripping and conferment of financial benefit to self and others.”
It said he mismanaged various interventionist funds of the government under his control and concluded that “investigation is still ongoing on a wider scale as other members of the syndicate chain need to be identified and arrested to enable successful prosecution.”
It would be recalled it was reportedly said the CBN Governor in 2022, had eyed presidential ticket on the platform of the All Progressives Congress (APC) but failed.
Efforts to get his reaction to the allegations labelled against him by the DSS were not successful as his office did not respond to enquiries.
However, the CBN Governor had at the height of the controversy surrounding his political aspiration said that the presidential form and other logistics were bankrolled by his admirers and denied any wrongdoing.
He also approached the Federal High Court in Abuja to obtain an order affirming his right to jostle for the APC’s ticket. But the court on May 9 refused to grant Emefiele’s prayer.
…Keep your old naira notes, Buhari, Emefiele will expire on Saturday – Oshiomole
Also, a former National Chairman of the All Progressive Congress (APC), Adams Oshiomhole has joined some Governors, to publicly condemn the new Naira policy.
The former Edo State Governor while addressing a crowd of supporters at Jattu market in Auchi Edo North, stated categorically that President Buhari is on his own when it comes to the Naira redesign policy.
Oshiomole said he and many other party chieftains had warned the President against going ahead with the Naira swap policy, but he didn’t listen to them.
He further tackled Emefiele for executing such a policy which has brought hardship to Nigerians.
The former Edo State Governor told his listeners not to discard their old Naira notes, adding that both Buhari and Emefiele will expire after the February 25 presidential election.
He based his argument for Nigerians to keep their money on the Supreme Court ruling which barred the government from proceeding with the February 10 deadline announced for the validity of the old Naira notes.
According to him, Buhari should respect the standing of the apex court because it supersedes his directive on the policy.
He also questioned why Buhari did not implement the same policy on the eve of his re-election in 2019, and why he was now attempting to sabotage another person’s election with such a policy.
Speaking in pidgin English, he said, “All this wahala wey Buhari put for currency change, my hand no dey inside. Our party don tell Buhari, wait if you want change currency, you should not change ham during election. Wetin you no change during your time, you wan make ham spoil another pesin time, e no good. At this point, nah only God we go dey fear.
“He has to obey the Supreme Court. Supreme Court judgement is superior to the pronouncement of the president. That is the Nigerian law. Under Nigerian Democracy, the Supreme Court once it pronounced, the President must obey. Because everywhere I go, I disassociate myself. Because the truth is, the money in your hand, no be you print ham. The colour wey e wear, no be you choose ham. Nah them choose ham.
“If they say dey want to change it, make them give you the new ones. Now they want to remove the old ones, they no give you the new ones. So, if you have the old money, don’t throw it away. On this matter, President Buhari is on his own. Your Naira will remain valid according to the Supreme Court. Don’t throw away your Naira, keep it.
“By the time you finish voting on Saturday, Emefiele the Central Bank Governor, will expire. Your money will not expire. But the president will expire.”
Recall the Progressive Governors under the auspices of the All Progressives Congress (APC) on Sunday had met with the National Chairman of the Party, Senator Abdullahi Adamu, demanding that the Federal Government honour the order of the Supreme Court on the pending suit which has restrained it from implementing its deadline on the status of the old Naira notes as legal tender.
The stakeholders had urged the CBN Governor and the Attorney General of the Federation and Minister of Justice, Abubakar Malami to respect the Supreme Court order of interim injunction, which has restrained the Federal Government, the CBN, and Commercial Banks from implementing the deadline on the swap of the old Naira notes.
The National Chairman of the All Progressives Congress (APC), Senator Abdullahi Adamu placed the demand while speaking on behalf of the governors after a five-hour long closed door meeting at the national headquarters of the Party on Sunday.
