News

Emefiele Fears Reps’ Arrest Threat, Appears Before House ….Says Banks ‘ll Accept Old Notes After Deadline

Published

3 years ago

February 1, 2023

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has finally appeared before the House of Representatives which summoned him over the crisis caused by the redesign of some naira notes and the exchange of old naira notes with new ones.
Emefiele yesterday appeared before the ad hoc committee set up by the House to investigate the crisis, which is chaired by Majority Leader, Alhassan Ado-Doguwa.
He told the House of Representatives that commercial banks in the country would still accept old naira notes from customers after the February 10 deadline.
He did not, however, state how long the expired notes would be admitted by the banks.
The Speaker of the House, Femi Gbajabiamila, had accused the CBN governor of breaching Section 20 of the CBN Act which, according to him, mandates commercial banks to accept old notes even after the deadline.
Emefiele, while addressing the ad hoc committee, said he agreed with the lawmakers on Section 20 of the CBN Act.
“Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this,” he stated.
The CBN governor added that, “if you have your money that you have not been able to send to the bank, we will certainly give you the opportunity to bring them back into the CBN to redeem it. Either you pay it to your bank account or you want to do an exchange — we give you. You will not lose your money. This is the assurance I give to Nigerians”.
Emefiele apologised to the lawmakers for failing to answer the previous summons, which the chairman said was accepted.
He stated that the policy should have been introduced several years ago and that the CBN had only used the opportunity to make the economy more cashless. According to him, Nigerians would soon realise the benefits of the policy.
The chairman of the ad hoc committee, Alhassan Ado-Doguwa, after the hearing that lasted over one hour, called for an executive (closed-door) session with members of the committee.
The Majority Leader and members later proceeded to the chamber where plenary was ongoing.
The report of the committee was laid, considered and adopted by the House.
Recall that the Speaker of the House, Femi Gbajabiamila, was to issue a warrant for Emefiele’s arrest over his repeated failures to answer at least four summons from the House.
The House had shelved its plan to go on break for the presidential and National Assembly elections, which was to commence on Thursday, over the CBN governor’s failure to answer the last summons issued to him by the committee.
Gbajabiamila had threatened to mandate the Inspector-General of Police, Usman Baba, to arrest and force Emefiele’s appearance before the panel, insisting that the deadline breached the provision of Section 20(3) of the CBN Act.
The Speaker partly said, “I have no choice now. On Tuesday (yesterday) when we resume, we will invoke the provisions of Section 89 of the Constitution…The President has been very clear. The President gave the approval based on what he knows and what he has been told.
“We also know the President to be a man of the people. He gave his approval based on what he had been told. But we are saying – what the motion is saying – is that after the President gave his approval, how does the money get to the people? The money is not getting to the people. That is what we sought to clarify and that is exactly what we are going to do.
“So, on Tuesday, this House will follow its procedure – the normal procedure – and invoke the provisions of Section 89 to compel the governor of the CBN and the directors.”
The Deputy Speaker, Ahmed Wase, had also urged the House to allow the leadership to meet with President Muhammadu Buhari and explain the controversial implementation of the policy to him, which the Speaker agreed to.
Though the CBN, on Sunday, extended the deadline on the expiration of the old N1,000, N500 and N200 notes by 10 days – from January 31 to February 10, with the Deposit Money Banks (commercial banks) allowed to accept the notes by seven days more, the House had insisted on Emefiele’s appearance.
Ado-Doguwa, in a statement titled ‘Old Naira Notes: House C’ttee Rejects CBN Extension, Says Position of Law Sacrosanct, Must Be Respected,’ insisted that the apex bank must comply with Sections 20(3), (4) and (5) of the CBN Act.
“Nigeria, as a developing economy and a nascent democracy, must respect the principles of the rule of law. And the House would go ahead to sign the arrest warrant to compel the CBN governor to appear before the ad hoc committee,” the Majority Leader stated.
Emefiele, however, led the leadership of the CBN to appear before the lawmakers yesterday.
Cumulatively, Emefiele has failed to answer summons from the House at least four times within two months.
The House had on December 22, 2022, grilled the Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, over the latest policy by the apex bank which, among others, sets limits to cash withdrawals at the Deposit Money Banks and other financial institutions.
The House had summoned Emefiele but he failed to appear in the two previous appointments with the lawmakers. The CBN had informed the House that Emefiele would not appear before the House in person, rather Ahmad would lead the Committee of Governors before the lawmakers.
Emefiele had also failed to answer two summons from the House’ ad hoc committee to investigate the scarcity of the new naira at the Deposit Money Banks, also known as commercial banks, leading to tension over the January 31 deadline set by the CBN for the exchange of the old notes with the newly designed ones.

News

Amend Constitution To Accommodate State Police, Tinubu Tells Senators

Published

37 minutes ago

February 27, 2026

The Tide

President Bola Tinubu has appealed to the leadership of the 10th Senate to amend the constitution to provide a legal framework for the establishment of State Police to tackle insecurity nationwide.

President Tinubu made the appeal during an interfaith breakfast with senators at the Presidential Villa in Abuja, yesterday.

The president said that the creation of State Police has become urgent to address Nigeria’s evolving security challenges, strengthen grassroots policing, and enhance states’ capacity to respond swiftly to threats within their jurisdictions.

He noted that a decentralised policing structure would complement existing federal security architecture and promote intelligence-led, community-focused law enforcement.

“We are facing terrorism, banditry, and insurgency. But we will never fail to make a right response to this cause. What I will ask for tonight is for you (Senators) to start thinking how best to amend the constitution to incorporate the State Police for us to secure our country, take over our forests from marauders, and free our children from fear,” he said.

The president commended the cordial relationship between the Executive and the Senate, saying that unity is needed to defeat terrorism and banditry in the country.

“It is a good thing that we are working in harmony, we are looking forward to a country that evolves, a country that takes care of its citizens and protects all.

Tinubu thanked the Senate for its unflinching support towards achieving various economic reforms of his administration, especially the fuel subsidy removal and tax reform policy.

“I have a lot of credit for bold reforms. Without your collaboration and inspiration, those reforms would not be possible. We are reformists together. What we gave up and what we stopped is monumental corruption in the subsidy system. We don’t want to participate in monumental corruption and arbitrage foreign exchange.

You don’t have to chase me for dollars; you could see what Nigeria is today. You should be proud, and I am glad you are. What we are enjoying is a stable economy, and prosperity is beckoning us. We need to work hard, and this attendance means a lot to me,” the president said.

President of the Senate, Godswill Akpabio, commended the president for hosting the leadership of the Senate to the Interfaith breaking of fast.

He commended President Tinubu for providing the visionary leadership the nation needs at this critical time, stating that the administration’s bold reforms have now brought more revenue to governors at the sub-national level for the development of critical infrastructure.

The Senate President prayed for the administration, and for the nation’s peace and prosperity.

News

We’ve Made Significant Strides In Health Sector -Fubara

Published

42 minutes ago

February 27, 2026

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has declared that his administration has made significant strides in the health sector in the past two and a half years.

Fubara, who stated this on Tuesday at the Government House, Port Harcourt, listed some of his notable achievements to include the revamping of health facilities, the establishment of the health insurance scheme and the employment of over 2,000 health workers to boost the manpower and efficiency of the sector.

The governor further disclosed that the administration has revived and expanded several abandoned health facilities, including the Zonal Hospitals in Bori, Omoku, Ahoada, and Degema.

He explained that the Ahoada Zonal Hospital is a 105-bed secondary facility that has capacity to cater for the health needs of the people in its catchment area.

In addition to the Zonal Hospitals, Fubara stated that his administration has also paid very close attention to the Primary Healthcare Centres across the state to ensure that citizens of Rivers State, especially those in the rural areas, have easy access to healthcare within their communities.

According to him, the administration approved the remodeling of 153 primary healthcare centers across the State to ensure their functionality.

“As an administration, we are very passionate about the health of every citizen and resident of Rivers State. When we realised that many people have been under stress as a result of economic hardship, we decided to introduce mental health services at the primary healthcare level. We are not just catering for those down with the common diseases such as malaria fever, we want to ensure that our people get the right attention to their mental health at the right time.

“At the tertiary level, we have also revamped the Intensive Care Unit of the Rivers State University Teaching Hospital and provided it with modern equipment, including monitors, ventilators, and scanners. Most of these innovations are massive and unprecedented,” he said.

On staff welfare, Fubara also disclosed that he approved the promotions for over 400 staff of the Rivers State University Teaching Hospital and recruited an additional 500 staff.

In the same vein, the governor said the number of scholarships for indigenes of Rivers State studying at the PAMO University of Medical Sciences has been increased from one hundred 100 to 150 under his watch.

News

APC Unveils Committees For 2026 National Convention …As Fubara Assists In Election Appeal Committee

Published

42 minutes ago

February 27, 2026

The Tide

The All Progressives Congress (APC) has announced the composition of sub-committees for its 2026 National Convention, setting the stage for what it described as a transparent, credible and well-coordinated exercise.

This was contained in a statement signed by its National Publicity Secretary, Felix Morka, and obtained by The Tide, yesterday.

The party said the committees would drive critical operational, administrative, electoral, logistics, security and programme components to ensure a seamless convention.

To oversee the screening of aspirants, the party appointed Ekiti State Governor, Abiodun Abayomi Oyebanji, as Chairman of the Aspirants’ Screening Committee, alongside Kogi State Governor, Usman Ododo, as Co-Chairman, and former Senate President, Ken Nnamani, as Vice Chairman.

For the Screening Appeal Committee, Jigawa State Governor, Umar Namadi, will serve as Chairman, with Ebonyi State Governor, Francis Nwifuru, as Co-Chairman and APC former National Chairman, Abdullahi Umar Ganduje, as Vice Chairman.

The Election Committee will be chaired by former Katsina State Governor, Aminu Bello Masari, while former Senate President, Anyim Pius Anyim, will serve as Co-Chairman. Kaduna State Governor, Uba Sani, and Edo State Governor, Monday Okpebholo, are Vice Chairmen.

Governor Agbu Kefas will head the Election Appeal Committee, assisted by Rivers State Governor, Siminalayi Fubara, as Co-Chairman and Kano State Governor, Abba Kabir Yusuf, as Vice Chairman.

The Venue Committee will be chaired by Ogun State Governor, Dapo Abiodun, with Sokoto State Governor, Ahmed Aliyu, as Co-Chairman. Minister of Works, David Umahi, and former Plateau State Governor, Simon Bako Lalong, will serve as Vice Chairmen.

On security arrangements, retired Chief of Defence Staff, Christopher Gwabin Musa, will chair the Security Committee, alongside Bayelsa State Governor, Douye Diri, as Co-Chairman and National Security Adviser, Nuhu Ribadu, as Vice Chairman.

The Finance Committee will be led by Imo State Governor, Hope Uzodimma, with Lagos State Governor, Babajide Sanwo-Olu, as Co-Chairman and Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, as Vice Chairman.

For media engagement, Yobe State Governor, Mai Mala Buni, will chair the Media and Publicity Committee, supported by Minister of Information and National Orientation, Muhammed Idris Malagi, and Senator I. D. Gyang.

The Ceremonial, Programme and Events Committee will be chaired by Senate President, Godswill Akpabio, with Speaker of the House of Representatives, Tajudeen Abbas, as Co-Chairman and Secretary to the Government of the Federation, George Akume, as Vice Chairman.

Other key committees include Delegates’ Accreditation chaired by Borno State Governor, Babagana Zulum; Protocol led by Cross River State Governor, Bassey Otu; Accommodation and Transportation chaired by David Umahi; Entertainment and Welfare headed by Delta State Governor, Sheriff Oborevwori; Convention Legacy and Rapporteur chaired by Kwara State Governor, AbdulRahman AbdulRazaq; Legal Advisory led by Attorney-General of the Federation, Lateef Fagbemi; Medical and Emergency Response chaired by Kebbi State Governor, Nasir Idris; and Secretariat/Technical Support headed by Hon. Mustapha Dawaki Bala.

The party through the statement, urged all committee members to discharge their duties diligently and in strict compliance with its constitution and approved guidelines, reaffirming its commitment to strengthening internal democracy and consolidating its progressive ideals through a credible 2026 National Convention.