Politics
Reps Urge CBN To Reinforce Use Of Coins As Legal Tender
The House of Representatives has urged the Central Bank of Nigeria (CBN) to reinforce the use of coins as legal tender in the country.
The resolution followed the adoption of a motion by Rep. Muda Umar (APC-Bauchi) at the plenary on Tuesday.
Umar in his motion, said that the former CBN Governor, Sanusi Lamido Sanusi, had on February 28, 2007 reissued N50, N20, N10 and N5 banknotes with new designs, as part of economic reforms.
He said that N1 and 50 kobo were also coined, while a new N2 coin was introduced.
Umar said, however, that coins seemed to vanished after a while, in spite of the fact that huge sums of money was used by Federal Government to produce them.
The lawmaker said that the daily business transactions of ordinary Nigerians has been significantly affected by the absence of the coins which were the lowest denominations of the country’s currency.
“Lack of coins and other lower denominations, have resulted in prices of goods being summed up to the nearest naira equivalent, a situation that has contributed to inflation in the country,” he said.
He expressed concerned that while other countries make use of coins for their daily financial transactions, the Nigerian coins were not being fully utilised.
“I believe that injecting low denominations and coins into the economy will go a long way in curbing price inflation and stabilising the economy,” he said.
The House, therefore, urged the CBN to ensure that banks complied with the use of coins, and mandated its Committee on Banking and Currency to ensure compliance.
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APC Unveils New NWC At National Convention
Delegates at the convention, held at the Eagle Square, also produced a new national working committee (NWC) through a consensus arrangement endorsed by stakeholders.
Dr Ben Nwoye was named deputy national chairman (south), replacing Mr Emma Eneukwu, following consultations within the party.
Sources within the party said the decision was influenced by zoning considerations and consultations among party leaders, with Mr Peter Mbah, Enugu State governor, playing a significant role in ensuring Dr Nwoye’s inclusion.
In his acceptance speech, Prof. Yilwatda said his re-election was a call to greater service and pledged commitment to unity within the ruling party.
“We are ready to serve, ready to lead, and we are ready to build the party, together with the nation,” he said.
He added that the new leadership would not “fail or falter” in carrying out its responsibilities.
President Bola Tinubu, Vice-President Kashim Shettima, governors, members of the national assembly, and other party leaders graced the convention.
FULL LIST OF APC NWC
• National chairman — Nentawe Yilwatda
• Deputy national chairman (north) — Ali Bukar Dalori
• Deputy national chairman (south) — Benjamin Obi Nwoye
• National secretary — Surajudeen Ajibola Basiru
• Deputy national secretary — AbdulKarim Abubakar Kana
• National legal adviser — Murtala Aliyu Kankia
• National treasurer — Uguru Mathew Ofoke
• National financial secretary — Haruna Ginsau
• National organising secretary — Muhammad Sulaiman Argungu
• National welfare secretary — Donatus Enyinnah Nwankpa
• National publicity secretary — Felix Morka
• National auditor — Abubakar Maikafi
National women leader — Mary A. Idele
• National youth leader — Dayo Israel
• National leader (persons with disabilities) — Durotolu Oyebode Bankole
• Deputy national financial secretary — Hammam Adamu Ali Kumo
• Deputy national organising secretary — Emeka Okafor
• Deputy national women leader — Zainab Abubakar Ibrahim
• Deputy national publicity secretary — Meseko Durosinmi Josiah
• Deputy national welfare secretary — Christopher Michael Akpan
• Deputy national auditor — Olugbenga Olayemi
• Deputy national legal adviser — Ibrahim Salawu
• Deputy national treasurer — Ben Akak
• Deputy national youth leader — Jamaludeen Kabiru
• National ex-officio (north-central) — Opawoye Oluwatoyin Bunmi
• National ex-officio (north-east) — Adamu Jallah
• National ex-officio (north-west) — Kano Muhammed Jamu Yusuf
• National ex-officio (south-east) — Ikechukwu Umeh
• National ex-officio (south-south) — Francis Kolokolo.
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