Nation
Scarce New Naira Notes After CBN Deadline Creates Uncertainty

Nigerians have continued to face challenges in their financial transactions due to inadequate circulation of the newly redesigned Naira notes.
This follows the February10 deadline for the legal tender status of the old notes which expired on Friday.
The Tide source reports that stakeholders across the country are expressing frustration in accessing the new Naira notes.
While traders and other small business owners have stopped accepting the old Naira notes across the country, Nigerians who are still in possession of the old notes are left stranded.
This is in spite of a Supreme Court ruling, which urged the Federal Government to accept the old notes as legal tender until Feb. 15.
The apex court’s ruling was on a suit brought before it by the governors of Kaduna, Kogi and Zamfara states, seeking to halt the Naira redesign policy.
The Supreme Court had in a unanimous ruling granted an interim injunction restraining the Federal Government from implementing the Central Bank of Nigeria (CBN’s) Feb. 10 deadline for the swapping of the old naira notes with the new ones.
A financial expert, Mr Okechukwu Unegbu, urged the government to obey the ruling.
Unegbu, who is a past President of the Chattered Institute of Bankers of Nigeria (CIBN), said there was no need for Nigerians to panic.
He said the law mandates the CBN to accept the old Naira notes in exchange for the new ones anytime they were presented.
He urged the apex bank to obey provisions of the act that set it up, adding that the Naira redesign policy and currency swap were supposed to be long term projects.
“The President should imstruct the CBN governor to hold on until when the Supreme Court will consider the matter on February 15.
“The apex bank should also obey Section 20 of the CBN Act, which provides that it should continue to accept the old notes for swap, even when they cease to be legal tender,” he said.
Meanwhile, the National Council of State on Friday, urged the CBN to immediately make enough of the new Naira notes available to Nigerians or resort to circulating the old notes.
Rising from a meeting presided by President Muhammadu Buhari, the council, however, declared its support for the Naira redesign policy.
It said that there was the need for the CBN to ensure adequate provision of Naira notes in the system.
The CBN has also assured Nigerians of its capacity to meet the country’s Naira demand.
It denied a report that had gone viral on the Internet that the Naira shortage was due to challenges faced by the Nigeria Security Printing and Minting Company (NSPMC).
According to a statement by Osita Nwanisobi, CBN’s Director, Corporate Communications Department, at no time did the apex bank make such disclosure.
“What the CBN governor told the National Council of State meeting was that the NSPMC was working on printing denominations of the Naira to meet the transaction needs of Nigerians.
“For the avoidance of doubt, the CBN remains committed to performing its monetary policy function as stipulated in the CBN Act.
“We also wish to reiterate that the NSPMC has capacity and enough materials to print the required indent of the Naira,” he said.
He said that the apex bank was working assiduously to increase the circulation of new notes in the country.
Similarly, the NSPMC also expressed its capacity to produce and circulate adequate quantities of the new notes.
According to a statement by the company’s Managing Director, Ahmed Halilu, NSPMC has made adequate arrangement to continously produce redesigned banknotes as well as other denominations in line with the CBN indent for the year.
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Nation
JAMB Decries Use Of Fake Results For Admission
The Joint Admissions and Matriculation Board (JAMB) has decried the high level of forgery of A Level certificates used for the registration.
JAMB Registrar, Professor Is-haq Oloyede, who raised the alarm, recalled that the Board had commenced the 2023 Direct Entry registration on Monday, 20th February but immediately suspended it following the discovery of the plethora of devices and machinations to circumvent and compromise the standard of A ‘level qualifications required from DE candidates.
He disclosed that out of 148 candidates verified by Bayero University Kano (BUK), only 6 were found to be genuine.
“By implication 142 of the results were forged. Oloyede said. Bayero University, Kano (BUK) has also consistently brought to the fore the high rate of forgery of A’Level qualifications for DE.
“It was discovered that in previous years, some candidates used unacceptable and forged A’ level certificates/ qualifications to register for Direct Entry and eventually got admitted. For example out of 148 candidates verified by BUK, only 6 were found to be genuine. By implication 142 of the results were forged.
“The Board, concerned stakeholders and institutions are working assiduously to detect such and the ones already found are being dealt with according to the provisions of the law.
“In order to further checkmate the anomaly and to also prevent recurrence of such irregularity, the Board has decided that the 2023 DE registrations will not only be restricted to JAMB (Professional Test Centres (PTCs) but will also be done under strict supervision,” Oloyode said.
“The Board has provided additional guidelines to all DE registration outlets (JAMB-owned centres), Officers of the Board and candidates on the 2023 Direct Entry registration exercise:
“At the point of registration, all candidates must fill in Registration/Matriculation Number of the previous school attended where the qualification was obtained; Subject(s) of qualification; Awarding Institution; Institution actually attended”, he said.
Nation
‘Nigerians Have Lost Confidence, Trust In INEC’
As post-election crisis gathers momentum, the European Union Election Observation Mission (EU EOM) to Nigeria’s 2023 general elections has declared that Nigerians have lost confidence and trust in the Independent National Electoral Commission (INEC) owing to lack of transparency and operational failures.
The EU EOM Chief Observer, Barry Andrews, made the assertion at a Media Briefing to present the Mission’s second preliminary reports, in Abuja, Monday.
Andrews noted that although Nigerians had great appetite for democracy and keen to engage in various civic activities, their expectations were dashed.
According to him, the apathy recorded at the governorship and states House of Assembly elections conducted last Saturday was a clear consequence of failures by political elites and “unfortunately, INEC.”
Andrews said: “Obstruction and organised violence limited the free expression of the will of the voters, despite efforts by civil society to promote democratic standards.
“Throughout the Mission, we saw that Nigerians have a great appetite for democracy and are keen to engage in various civic activities. However, in many parts of the country, their expectations were not met.
“Many were disappointed and we witnessed voter apathy that is in part, a clear consequence of failures by political elites, and unfortunately, also by INEC.
“Positively, INEC introduced some corrective measures ahead of Saturday’s polls, allowing a timely delivery of sensitive materials and improved use of election technologies, yet, the institution continued to lack transparency.”
The Mission also observed that voting started early with INEC ad-hoc officials present and ready to serve voters, but the exercise was unfortunately, disrupted by “multiple incidents of thuggery and intimidation of voters, polling officials, observers, and journalists”.
The Mission noted that Lagos, Kano, and other States in the Southern, Northern and Central parts of the country were mostly affected, adding that the election was equally characterised by casualties, fatalities, as well as vote-buying, which according to the observers, further detracted from an appropriate conduct of elections.
“EU EOM observers also saw misuse of administrative resources, including through various financial and in-kind inducements to voters, giving an undue advantage to the party in power.
“Furthermore, the protracted deadlines for candidacy disputes created uncertainty for voters and electoral contestants alike, while clear underrepresentation of women as candidates demonstrated a stark lack of internal party policies to support constitutionally prescribed inclusion
Nation
‘Youths To Benefit From Climate Change Innovation Hub’
The Clerk to the National Assembly (CNA), Sani Tambuwal, has expressed optimism that the recently established National Climate Change Innovation Hub would help in harnessing the potential among Nigerian youths towards addressing climate issues.
The CNA stated this during the commemoration of the 2023 Commonwealth Day with the theme ‘Forging A Sustainable And Peaceful Common Future’ held at the instance of National Assembly management, in Abuja, Monday.
Represented by the Deputy Clerk, National Assembly (DCNA), Barrister Kamoru Ogunlana, Tambuwal observed that the ongoing Russia-Ukraine war and other climate issues in the world if not properly managed, would posed great danger to world peace and a sustainable future.
He assured that Federal Government had put measures in place to address some issues on climate change through the establishment of youth climate change hub to harness their ideas and include them in decision-making process as well as develop long-term vision for zero gas emissions.
In her presentation, Mrs. Rabi Audu stressed the need for concerted efforts from all stakeholders towards forging a sustainable and peaceful environment.
Audu also urged the youths to engage in activities and programmes that would promoter innovations and inclusivity for all.
According to her, governments and parliaments have to increase opportunities for schools across the Commonwealth countries, adopt higher education partnerships and development programmes that would lead to economic growth, social inclusion and environmental conservation.
While noting that the establishment of more programmes like the Commonwealth of Learning (COL) would aid the attainment of these, Audu further stressed the need for Commonwealth member countries to establish technical and vocational education that would help in gainfully equipping the youths with skills to further tackle high rate of youth unemployment.
Some of the students who participated in the programme tasked parliaments across Commonwealth member States on the need to hold their governments to account particularly on the areas of public spending, international crisis, investment sustainability and promotion of the benefits of inclusive and diverse representation in truly open societies.
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