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Naira Swap: CBN Insists On February 10 Deadline … Threatens To Arrest, Jail PoS Agents Charging Above N200 For Cash Swap

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The Governor of the Central Bank of Nigeria (BN), Godwin Emefiele, has said that there was no need to shift the February 10, 2023 deadline set for the swap of the old N200, N500 and N1,000 Naira notes.
He said this yesterday during a visit to the Ministry of Foreign Affairs, to discuss the monetary and currency redesign policy of the bank.
He said, “The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.
“There is, therefore, no need to consider any shift from the deadline of February 10.”
This comes as the Supreme Court had earlier restrained the Federal Government from implementing the February 10 deadline for the currency swap.
A seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, had granted an interim injunction restraining the Federal Government, the Central Bank of Nigeria and commercial banks from implementing last Friday terminal date for the old naira notes.
Also, The International Monetary Fund, last week, counselled the CBN to extend the February 10 deadline for swapping old naira notes with the redesigned ones.
The IMF gave the counsel in the wake of the challenges faced by Nigerians across the country over the banknote swap process.
The IMF said in a statement, “In light of hardships caused by disruptions to trade and payments due to the shortage of new banknotes available to the public, in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline, should problems persist in the next few days leading up to the February 10, 2023 deadline.”
However, the CBN governor insisted that there was no need to shift the deadline.
He also threatened that Point of Sale (PoS) agents who charge above N200 for the CBN cash swap programme would be arrested and jailed.
Emefiele further said that the PoS operators can come to the CBN to be compensated for any extra cost incurred in getting the new notes rather than charging a higher fee on customers.

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Rivers’ll Be Known For Peace, Not Crisis -Fubara

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Rivers State Governor, Sir Siminalayi Fubara, has said that peace has prevailed because he draws strength from God to resist insults and tantrums thrown at him while frustrating attempts by some disgruntled persons who wanted to plunge the State into unending crisis.
The Governor also said that because he has anchored his Government on promoting peace, the enabling atmosphere has been provided for investments and sustainable development to flourish.
Governor Fubara made the assertion when he received a delegation of members of the Bishops and Gospel Ministers’ Association International Incorporated, Rivers State Chapter, at Government House in Port Harcourt, yesterday.
Represented by the Head of Rivers State Civil Service, Dr George Nwaeke, Governor Fubara said while most people took his meekness for weakness, his stance on peace has unarguably enhanced harmonious atmosphere of concord as residents sleep with their two eyes closed, and investors and shareholders are happy with the returns on investment.
He said, “Before, what they hear of Rivers State is that they are fighting, and some genuine investors will not come. Some people even ask you: How are you coping in Rivers State?
“But now”, he asserted: “The Governor has brought about a lot of changes in the State. One of the most important things is that he has changed the negative narrative. It is no longer Rivers of blood. It is now Rivers of peace.
“We are enjoying our lives here. Why? Because there is a change in the narrative. We have peace. The Governor is, as much as possible, absorbing any level of insult at him only for one purpose: that Rivers State may have peace; that we may grow; that this state will experience genuine development.”
Governor Fubara urged them, as members of the Christian family in the State, to continue to pray for the State and the Government so that the enemies of the State will be put to greater shame.
“This peace is what I want you to embrace. Go and continue to pray, because when the sower of the seed went and sowed, the enemy went in the night and sowed tares inside there. But the Governor is sowing peace.
“When I listened to the leader of the team, His Grace Eddy Ogbonda, he said you came all the way from Eleme Junction, and stopped at major junctions, and you uttered prayers for the peace of Rivers State.”
He also said: “I, hereby want to thank you for identifying with the Governor at a time like this. At a time when it looks as if someone wants the Governor’s peace posture misunderstood as weakness.
“When someone has the strength to fight back, but refuses to fight back. That is a bigger strength; that power of restrain does not just come, it can only come from God.
“You cannot give peace, if you do not have peace within you. The Governor is not interested in any form of trouble or violence. What he is interested in is known, and it is: let there be peace in Rivers State,” he said.
In his address, leader of the group, Archbishop Eddy Ogbonda, said they had observed a week-long intensive prayers that culminated into a peace rally, which brought them to Government House, and assured the Governor that God will continue to give him victory over his adversaries while preserving Rivers State.
“It is Rivers State Prophetic Prayer Convocation and Rally 2024 with the theme: ‘Peace be still’. Of a truth, everyone of us understands that we live in a time when we need peace much more than any other thing.
“Rivers State needs peace. Everyone as individuals need peace. The country needs peace, and the world at large needs peace. So, we are here to do a peace march. We pray that God will command His peace to reign in Rivers State,” he said.

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Hoteliers, School Owners Charging In Dollars Risk Arrest -EFCC

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The Economic and Financial Crimes Commission (EFCC) has stated that hotels, schools, and other establishments that accept payments in dollars from their customers are at risk of facing arrest.
The Chairman of EFCC, Ola Olukoyede, said this in the agency’s publication called EFCC Alert on Monday, adding that action would be taken against individuals involved in the dollarisation of the economy.
According to him, the exception is if foreigners come in to transact business and the only means of transacting is their credit card and dollar but to charge local customers in dollars or other foreign currencies would no longer be allowed.
He said charging local activities and customers in dollars is against Nigeria’s constitution.
The EFCC chairman said, “Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, we are coming after you and we have made arrests in that area.
“Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not? You will get that.
“But document it properly as against selling things within the system, local economy and you will be using dollar as the medium of exchange, it is illegal.
“Our law does not allow for that. And we have also affected some arrests.”

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Eid-El-Fitr: Fubara Felicitates Muslims, Calls For Unity, Tolerance

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Rivers State Governor, Sir Siminalayi Fubara, has enjoined Muslim faithful to remain steadfast to the lessons learnt during the holy month of Ramadan.
Governor Fubara stated this in his message of felicitations to Muslims as they celebrate the 2024 Eid-el-Fitr Sallah, which marks the end of the one-month Ramadan fasting.
The Governor emphasised the importance for Muslims to also uphold the tenets of Islam by exhibiting the fear of God and showing piety in their daily work.
Governor Fubara said, “We must all continue in the good attributes imbibed during the holy month of Ramadan as directed by God through His Prophet, so as to ensure peace, unity and harmony in the society for a better future.”
While praying that the essence of the festival offers them happiness, peace and prosperity in all aspects of life, Governor Fubara said he recognises and appreciates the critical role that the Muslim community continues to play in the development of Rivers State, and indeed, Nigeria at large.
Governor Fubara charged them to remain unwavering and steadfast in their commitment and positive contributions to advance the development of the State and the country.
“I enjoin you all in the State to remain calm, be patient and continue to do what is right,” the Governor added.
He wished the Muslim faithful in the State and across the country a happy Eid-el-Fitr celebration.

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