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

Be Patient With Us, Diri Tells Bayelsans … Inspects New 60mw IPP …Expresses Confidence In Technical Partners, BECL MD

Published

14 hours ago

January 2, 2026

The Tide

Bayelsa State Governor, Senator Douye Diri has sued for patience on the ongoing installation of the state’s new independent power project.

The Tide gathered that the 60-megawatt gas turbine project, which installation commenced in October this year, was earlier scheduled to be completed by December but suffered logistics related delays.

The governor called on people of the state to have an open mind about the project, which he said now requires a new completion date due to unforeseen challenges.

?The Tide further reports that the State’s Chief Executive who undertook an on-the-spot-assessment of the project at Elebele in Ogbia Local Government Area on Wednesday, said like other citizens of the state, he was also disappointed that the December completion deadline could not be met.

However, he stated that his reaction to the delay had been that of understanding rather than being angry as had been noticed, particularly on the social media.

?”You can see I’ve gone round the whole facility. It was based on the working agreement and information available at my disposal that I gave the December date. But as it is with every human endeavor, we must all have an open mind, when it comes to issues, particularly technical matters like this.

?”I am as disappointed as any other Bayelsan because I believed that we were going to celebrate the 2025 Christmas with our own independent power, but it turned out not to be so.

?”I call on Bayelsans to have an open mind. These technical experts are working virtually 24 hours, but delays like this will certainly come”, he said.

He implored the people 9f the state to appreciate the work of the engineers, stressing that a minor mistake was capable of jeopardising the millions of dollars expended on the project.

?”For 29 years Bayelsa has been in darkness or has endured epileptic power supply. Now that we are getting close to the day of liberation, some people have become impatient.

“Let us not behave like the proverbial tortoise in the prison for years that asked to be released immediately as the place was smelling the moment he knew it would regain freedom the next day”, the governor added.

?The Bayelss Governor gave a thumps up to the technical partners, Jampur Group, and its team on ground as well as the Managing Director of the Bayelsa Electricity Company Ltd, Engr. Olice Kemenanabo, saying they were working round the clock to ensure the job was completed.

?”Those who have been following me on this inspection would know that work has not stopped even for one day since it started. I am sure the job is more than 90 per cent complete. So let us hold our fire.

“Engineer Olice, I am not putting you under any pressure. From the reports I have, Olice is one of the best electrical engineers in Nigeria”, governor Diri said.

The governor, however, hinted that the government was looking at inaugurating the project during its sixth anniversary in February.

The MD of the Bayelsa Electricity Company Limited, Kemenanabo, who also spoke, said the state was on the right track towards actualising the project and assured that the alignment of the entire system, including the gas generator and alternator were on course.

He also stated that the remaining two turbines would be delivered to the project site in a few days.

?Speaking on behalf of the Jampur Group, Mr. Sherrif Abu-Anif said the company was in good position to meet its own end of the bargain and appreciated the state government for playing its part very well.

By Ariwera Ibibo-Howells, Yenagoa

News

Akpabio Withdraws All Defamation Suits After Priest’s Sermon

Published

15 hours ago

January 2, 2026

The Tide

The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.

Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.

He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.

“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”

In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.

In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.

Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.

Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.

The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.

With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.

News

‘Best Way To Show Gratitude Is To Deliver Tinubu in 2027’

Published

15 hours ago

January 2, 2026

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.

Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.

He said that the State has what it takes to deliver the President during the 2027 general elections.

“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”

Fubara expressed delight over the completion of the project, stating that the initiative was to provide accommodation, a basic need of life for public servants in the state to improve their productivity.

He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.

“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.

Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.

In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.

She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.

Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.

“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.

In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.

He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.

The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.

Giving the project description, Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.

Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.

Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.

By: Taneh Beemene