THE controversy over the February 10 deadline for the validity of three old naira notes assumed another dimension on Wednesday as the Supreme Court of Nigeria restrained the Federal Government from implementing the February 10 deadline for the old 200, 500 and 1000 naira notes. On the same day, Attorney-General of the Federation (AGF), Abubakar Malami asked the apex court to dismiss the suit filed by three state governments challenging the naira redesign policy of the Central Bank of Nigeria (CBN). The governments of Kaduna, Kogi and Zamfara states are behind the suit. Interestingly, all three states are controlled by…
Author: Amina Ibrahim
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THE National Population Commission Chairman, Nasiru Isa Kwara, has disclosed that census will hold in Sambisa Forest. He said, despite the security challenges, the commission would ensure people in the area are counted. Kwarra announced this at the inauguration of the population and housing national census publicity committee in Abuja. “I can assure you your village has been covered. There is no place we have not visited. Our staff even went as far as Sambisa Forest where we have security challenges. So, I assure you that no one will be left out in the entire census process. “And all structures…
FORMER Chief of Air Staff (CAS), Air Marshal Sadique Abubakar (rtd) says he is running for the governorship position in Bauchi State, in a bid to give back and contribute to the transformation of the state. Abubakar who is governorship candidate of the All Progressive Congress (APC) in Bauchi, stated on Channels Television’s Sunrise Daily monitored by News Point Nigeria, that he has given Nigeria about 42 years of excellent service and sees the need to replicate such excellence. According to the former CAS, all the years of managing Nigeria’s internal security crisis thought him that except the root causes…
A FORMER Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, has urged Nigerians to be vigilant ahead of the 2023 elections, warning that politicians are likely to deploy all means necessary to emerge victorious because the political class don’t mean well for Nigerians. He said Nigerian politicians since 1999 see the electoral contest as a do-or-die affair, noting that the 2023 elections won’t be different. He stated this in Abuja while delivering a keynote at the public sensitization on peaceful co-existence and the need to have hitch-free 2023 elections, organized by the Abuja National Mosque Da’awah and…
36 NIGERIAN governors under the umbrella of the Nigeria Governors Forum (NGF) have written to President Muhammadu Buhari, demanding an extension of the timeframe for the implementation of the naira redesign policy and a review of the Central Bank of Nigeria (CBN) cashless policy. The governors made the demand in a letter addressed to President Buhari and signed by the Governor of Sokoto State, Aminu Waziri Tambuwal, who is the NGF Chairman obtained by News Point Nigeria, Wednesday. The governors said that the policy had resulted in riots and protests from Nigerians who are presently frustrated and traumatised by the…
THE Attorney-General of the Federation (AGF), Abubakar Malami, on Wednesday asked the Supreme Court to dismiss a suit filed by three state governments challenging the naira redesign policy of the Central Bank of Nigeria (CBN). In a preliminary objection filed by the AGF through his lawyers – Mahmud Magaji and Tijjani Gazali – the Federal Government argued that the Supreme Court lacks jurisdiction to entertain the suit. In court filings dated February 8, 2023, the AGF contends that “the plaintiffs have equally not shown reasonable cause of action against the defendant.” They are asking the court to strike out the…
THE Senator representing Delta North in the National Assembly, Peter Nwaoboshi, who has been on the run for months since the Court of Appeal Lagos Division convicted and sentenced him to seven years imprisonment for money laundering, is finally in prison custody. According to a statement by the Head, Media and Publicity of the Economic and Financial Crimes Commission (EFCC), Wilson Uwujaren, the lawmaker was intercepted by EFCC operatives at a hospital in Lagos on Monday, and finally remanded in Ikoyi Custodial Centre on Wednesday to commence his prison term. The Court of Appeal had in a judgement delivered on…
SIXTEEN days to the conduct of the general elections, the Independent National Electoral Commission (INEC) has affirmed that the two major encumbrances faced by the commission have been resolved. For this reason, the INEC Chairman, Mahmood Yakubu, assured that the February 25 and the March 11 elections will hold as scheduled. In a chat with State House correspondents after briefing the Federal Executive Council on preparations towards the elections and challenges, the INEC chief identified that petrol scarcity and the currency challenge instituted challenges that have now been resolved following assurances by the Governor of the Central Bank of Nigeria…
THE Supreme Court of Nigeria has restrained the Federal Government from implementing the February 10 Deadline of the old 200, 500 and 1000 naira notes to stop being legal tender. Three Northern States, Kaduna, Kogi and Zamfara, had in a motion ex-parte filed on February 3rd, prayed the apex court to halt the Central Bank of Nigeria (CBN) naira redesign policy. A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and…
WITH the increase in fuel supply to tackle lingering scarcity nationwide, the country needs N4.27 trillion to meet its subsidy requirements, the Nigerian National Petroleum Company (NNPC) Limited said on Tuesday. The Group CEO, NNPC, Mele Kyari, in an interview on The 2023 Verdict, Channels Television’s special election programme monitored by News Point Nigeria, disclosed that the the NNPC transfers products to oil marketing companies at N113 per litre to establish a market price of N170. “That was one year ago. That’s the basis of all the estimates,” he explained. According to Kyari, there are some adjustments that have “brought…
THE Inspector General of Police (IGP) Usman Baba Alkali has redeployed a former spokesman of the Force Frank Mba as the Ogun State Commissioner. He also posted other senior officers to various formations and commands. Tuesday’s move is in “line with his manpower development policy of placing round pegs in a round hole,” Force spokesman Muyiwa Adejobi said in a statement made available to News Point Nigeria, Tuesday “DIG Danmallam Mohammed, FDC, has been redeployed to the Department of Finance and Administration while the following Assistant Inspectors-General of Police have been posted to take up the duties and responsibilities of…
JUSTICE Nnamdi Dimgba of the Federal High Court Abuja has discharged and acquitted Jide Omokore, Chairman of Atlantic Energy Drilling Concepts Nigeria Limited, of fraud allegations. Omokore was arraigned by the Economic and Financial Crimes Commission (EFCC) alongside Victor Briggs, Abiye Membere, and David Mbanefo on 15 counts on July 4, 2016. They were alleged to have fraudulently diverted about $1.6bn alleged to be part of proceeds of sales of petroleum products belonging to the Federal Government. Omokore, an ally of a former Minister of Petroleum, Diezani Alison-Madueke, was initially arraigned in 2016. He and the co-defendants were arraigned before…
THE Federal Government on Tuesday said “unscrupulous” opposition politicians have “legally hamstrung” President Muhammadu Buhari from providing any relief to Nigerians on the scarcity of N200, N500 and N1,000 bank notes. Minister of Information and Culture, Lai Mohammed stated this at the 23rd Edition of the President Muhammadu Buhari Administration Scorecard in Abuja. He said the opposition parties have turned the scarcity of new naira notes to a political game, “preferring to make Nigerians suffer more on the altar of unconscionable political gamesmanship”. The pandemonium over the February 10 deadline for the validity of three old naira notes assumed another…
NIGERIA lost a total of N500bn in revenue in January as a result of low crude oil production in January, according to findings. Shipping data obtained from Refinitiv Eikon, a company that tracks export flows, showed that the country’s production has yet to fully recover, as it exported 1.2mb/d as against the 1.6mb/d quota assigned to it by the Organisation for the Petroleum Exporting Countries. An export of 1.2mb/d brings January’s total export to 37.2 million barrels, as against 49.6 million expected if it had exported 1.6mb/d. Nigeria’s crude grade, Bonny Light, sold for $89 per barrel in January- +1…
JUSTICE Eneojo Eneche of the Federal Capital Territory (FCT) High Court, has stopped the Central Bank of Nigeria (CBN), President Muhammadu Buhari and 27 commercial banks from suspending or interfering with the currency redesign terminal date of February 10, or issue any directive contrary to the said date. In a motion by five political parties, the court also granted an order directing the Chief Executive Officers (CEOs) of the banks, to show cause why they should not be arrested and prosecuted for the financial sabotage of the country, by illegally hoarding and not disbursing the new N200, N500, and N1000…
WORRIED by the effects the Central Bank of Nigeria (CBN)’s naira redesign policy is having on the residents of their states, the governments of Kaduna, Kogi and Zamfara have dragged the Federal government before the Supreme Court, seeking a restraining order to stop the full implementation of the policy. In a motion ex-parte filed on their behalf by their lawyer, AbdulHakeem Uthman Mustapha (SAN) obtained by News Point Nigeria, Monday morning, the three northern states are urging the apex court to grant them an interim injunction stopping the Federal Government either by itself or acting through the CBN, the commercial…
ADAMS Oshiomhole has accused the Central Bank of Nigeria (CBN) of deceiving President Muhammadu Buhari over the redesign of the naira notes. President Buhari last year approved the redesign of the N1,000, N500, and N200 notes. The move, has, however, created hardship among Nigerians who battle to lay hands on the new notes as the February 10th deadline for the currency swap inches closer. In the wake of the naira swap crisis, the CBN maintained it won’t extend the deadline. But Oshiomhole has faulted the policy, describing it as senseless and a plot by the apex bank to scuttle the…
FORMER Chief of Army Staff, retired Lt.-Gen Tukur Buratai, says winning hearts and minds of the North East populace was a major step taken by the Army that turned the tables against insurgents during his time. Buratai, who is the immediate past Ambassador of Nigeria to the Republic of Benin, said this in an interview with newsmen in Abuja. He said that the people also realised that President Muhammadu Buhari was passionate about restoring peace and stability to Borno and the entire North-East region. He said that there was also the reinvigoration of joint civil-military operations, composed of all operational…
THE Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Dr Ahmad Lawan and Speaker of the House of Representatives, Mr Femi Gbajabiamila over the National Assembly’s budget. SERAP Deputy Director, Kolawole Oluwadare, disclosed this in a statement on Sunday, saying the suit became necessary following their “failure to cut the unlawful National Assembly budget of N228.1bn, including the N30.17bn severance payments and inauguration costs for members.” In the suit, Defendants are President Muhammadu Buhari; the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN; and the Minister of Finance, Budget and…
THE Minister of the Federal Capital Territory, Malam Muhammad Bello, has directed security agencies to arrest the officials of the Federal Housing Authority and the developer of the collapsed two-storey building in Abuja. The Coordinator, Abuja Metropolitan Management Council, Umar Shuaibu, disclosed this development to journalists during a briefing on Saturday. He ordered the arrest of the FHA officers saddled with monitoring the development, in charge of granting the development permit, the developer, and the engineer supervising the development, for manslaughter. Shuaibu disclosed that the uncompleted building that collapsed two days ago at 6th Avenue in Gwarimpa Estate, trapped 24…