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Naira Redesign: Suspicion, Anxiety Grow As Malami Opposes El-Rufai, Others

Twenty-four hours to the deadline set by the Central Bank of Nigeria, CBN, for the swap of the old naira notes, there is a high level of anxiety across the country.
The Supreme Court had on Wednesday temporarily halted the move by the Central Bank of Nigeria, CBN, to ban the use of the old naira notes from February 10, 2023.
A 7-member panel led by Justice John Okoro halted the move while ruling in an ex-parte application brought by three northern States of Kaduna, Kogi and Zamfara.
The three States had specifically applied for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
Moving the application on Wednesday, counsel to the applicants, Mr A. I. Mustapha, SAN, had urged the apex court to grant the application in the interest of justice and the well-being of Nigerians.
He stated that the policy of the government has led to an “excruciating situation that is almost leading to anarchy in the land.”
The ruling has since generated mixed reactions from across the country.
While some citizens, including the camp of the APC Presidential candidate, Bola Tinubu are hailing the ruling, others have asked President Muhammadu Buhari to override it with an executive order.
Few hours after the ruling, the Governor of the CBN, Godwin Emefiele met with President Buhari at the Aso Rock Villa.
READ ALSO: Why Supreme Court Paused Ban On Old Naira Notes —Ozekhome
Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, has already filed processes challenging the jurisdiction of the Supreme Court to suspend the scheduled deadline.
Malami, in a preliminary objection he filed on behalf of the Federal Government, applied for an order striking out the suit that three Northern States filed to halt the full implementation of the new monetary policy that was introduced by the Central Bank of Nigeria, CBN.
He is the sole defendant in the suit marked: SC/CV/162/2023, where he applied for its outright dismissal on the basis that the three States lacked the locus-standi.
Listing his grounds for challenging the power of the Supreme Court to intervene in the matter, Malami accused the three States of opposing FG’s power, through its agency, the CBN, to withdraw old banknotes and introduce new ones.
Nigerians are anxiously awaiting the next step of the CBN, especially with the deadline ending on Friday, February 10, just as President Buhari had earlier asked for one week to take a major decision on the matter one way or the other.
Speaking to DAILY POST on Wednesday, the Head of the Peoples Democratic Party, PDP, Digital Media, Barrister Tony Ehilebo claimed of a certain intelligence that the ruling party, All Progressives Congress, APC, is planning to swap N21 billion it had set out for vote-buying.
READ ALSO: Continue To Spend Old Naira Notes, El-Rufai Tells Nigerians
He, however, said that the efforts of Governor Nasir El-Rufia of Kaduna State and his cohorts to stop the CBN policy will fail because the States lacked such powers.
He alleged that, “The intelligence reaching us is that the APC, especially in States that they control are using the instrumentality of the State government and trying to swap N21 billion.
“We don’t know if this has gone through or if it has happened but we have raised all the necessary alarms.
“These are the questions we should be asking. We expect that the NFIU which has direct access to any suspicious cash transaction should be on top of its job.
“I’m one of the advocates, one of the drafters of the creation of the National Financial Intelligence Unit Bill and I expect it to live up to expectation, which is why I don’t have any problem with the CBN policy.
“It may not even favour the PDP as far as I’m concerned but it is in the best interest of Nigeria. We’ll really like whoever Nigerians want, which I believe is the PDP at this point in time.”
Speaking further on the recent Supreme Court injunction, he added, “It is a normal procedure of the court. When you run to the court with the cry that lives are being affected, it is the Court’s duty to first intervene and then bring all parties to the table and provide opportunity for response.
“That is why injunctions only have a lifespan of seven days at most. However, I suspect that this will be reversed. If you notice, it was given on 7th and it expires on 15th and that is when the hearing proper is.
“If I were the CBN, on the 15th I’ll carry on with that policy. Of course, the CBN is legitimately carrying out its function and I don’t think the States have any say whatsoever to impede on functions that are constitutionally guaranteed by the banks and other financial institutions’ acts.
“The CBN is guaranteed to be independent of the judiciary and free from the encumbrance of people like El-rufai and his cohorts.”
But reacting to the allegations of planning to buy votes and rig the forthcoming election, Comrade Okpokwu Ogenyi, Convener, Concerned APC Members and member APC Presidential Campaign Council and Civil Society Directorate, wondered why the APC whose government introduced the BVAS and signed the Electoral Act 2022 into law, should be the one being accused of planning to rig elections.
Speaking to DAILY POST, he said, “Yes. Some members of my party are in court to challenge the policy of the Central Bank of Nigeria and some of the reasons they gave were very clear.
“El-Rufia made it clear that in the entire Borno State, it is only two local governments that banks are operating.
“The same in Yobe State. He said that he was campaigning against the effect of the policy on the people. He even said the policy has nothing to do with the CBN but Mr. President who changed currency even in his first tenure as military head of state.
READ ALSO: JUST IN: Dismiss Suit Against FG On Old Naira Deadline, AGF Tells S’Court
“That the timing is wrong. In my personal opinion, I want to tell you that Governor El-Rufia is in court to seek redress in his capacity as governor of Kaduna State. He is speaking for the people of Kaduna State not for the entire All Progressives Congress.
“On the allegations of swapping over N21b for vote, let me say that just yesterday, the party launched the Renewed Hope Ambassadors of Nigeria to mobilise 20-man canvassers in each of the polling units.
“A party that is resorting to vote-buying will not initiate such a volume of projects. I want you to also know that my party is not ready to buy votes. The BVAS was introduced by my party.
“The Electoral Act 2022 was signed by my party. So the party is putting up measures to checkmate some of the excesses during elections, such as rigging, vote-buying and all of that.”
DAILY POST
News
Wage Dispute: Court Orders PSG To Pay Mbappe €61 Million

Paris Saint-Germain were ordered to pay their former forward Kylian Mbappe up to 61 million euros ($71.8 million) in unpaid wages and bonuses by a French labour court on Tuesday.
France captain Mbappe, who left PSG in June 2024 to join Real Madrid, had been claiming over 260 million euros in total from his former club.
PSG in turn had demanded Mbappe pay them 440 million euros.
Mbappe, 26, also claimed the Parisian club applied the wrong French legal classification to his contract, but that was rejected by the court.
READ ALSO:Court Refuses Kanu’s Motion For Transfer From Sokoto Correctional Centre
The labour court said the final figure of between 60 million and 61 million euros was made up of 55 million euros in unpaid salary and around six million euros in holiday payments.
Qatari-owned PSG did not immediately say if they intend to appeal.
Lawyers for Mbappe said in a statement they “noted with satisfaction the decision given by the labour court”.
“It re-establishes a simple truth — even in the professional football industry, labour laws apply to everyone,” the lawyers added in a statement.
READ ALSO:SERAP Drags Akpabio, Tajudeen To Court Over Alleged Missing N18.6bn NASS Complex Project Funds
The French club had said they were basing the figure they were claiming in part on a botched 300m-euro transfer to Saudi club Al Hilal which Mbappe refused in June 2023.
Mbappe left for Real Madrid on a free transfer when his contract expired the following summer.
He insisted he made no agreement in 2023 to waive any payment from the club.
Mbappe initially filed a complaint in June over the way he was treated by PSG at the start of the 2023-24 season.
Mbappe argues that he was sidelined by PSG and made to train with players the club were trying to offload after refusing to agree a new contract.
READ ALSO:Court Orders Release Of 27 Houses Seized By EFCC
It is a widespread practice that in France prompted the players’ union to lodge a complaint last year.
Mbappe was not invited to take part in PSG’s 2023 pre-season tour of Asia and missed the first game of that season but was later recalled to the team after holding talks with the club.
After seven seasons with PSG he joined Real Madrid where he earns a reported annual salary of 30m euros.
Mbappe scored 256 goals in 308 games for PSG but the club won the Champions League for the first time last season following his departure.
bap-bat/jc/gj
News
OPINION: Time For The Abachas To Rejoice

By Lasisi Olagunju
General Sani Abacha was a great teacher. He pioneered the doctrine of consensus candidacy in Nigeria. He founded a country of five political parties and when it was time for the parties to pick their candidates for the presidency, all the five reached a consensus that the man fit for the job was Abacha himself. Today, from party primaries to consensus candidacy; from setting the opposition on fire, to everything and every thing, Abacha’s students are showing exceptionally remarkable brilliance.
Anti-Abacha democrats of 28 years ago are orchestrating and celebrating the collapse of opposition parties today. They are rejoicing at the prospect of a one-party, one-candidate presidential election in 2027. Abacha did the same. So, what are we saying? Children who set out to resemble their parents almost always exceed their mark; they recreate the parents in perfect form and format. Abacha was a democrat; his pupils inherited his political estate and have, today, turned it into an academy. Its classes are bursting at the seams with students and scholars. Aristotle and his Lyceum will be green with envy, and very jealous of this busy academy.
Like it was under Abacha, the opposition suffers from a blaze ignited by the palace. But, and this is where I am going: fires, once started, rarely obey and respect their makers.
My friend, the storyteller, gave me an old folktale of a man who thought the world must revolve around him, alone. One cold night, the man set his neighbours’ huts on fire so he alone would stand as the ‘big man’ of the village. The man watched with satisfaction as the flames rose, dancing dangerously close to the skies. But the wind had a scheme of its own. It hijacked the fire, lifted it, and dropped it squarely on the arsonist’s own thatched roof. By dawn, all huts in the village had become small heaps of ash.
Fire, in all cultures, is a communal danger; whoever releases it cannot control its path. The Fulani warn that he who lights a fire in the savannah must not sleep among dry grass, a wisdom another African people echo by saying that the man who sets a field ablaze should not lie beside raffia in the same field. Yet our rulers strike anti-opposition matches with reckless confidence, believing fire is a loyal servant that burns only the huts of opponents. They forget that power is a strong wind, and wind has no party card and respects none.
When it is state policy to weaken institutions, criminalise dissent and have rivals crushed with the excuse of order, the blaze spreads quietly, patiently, until it reaches the bed of its maker. Fire does not negotiate; it does not remember or know who started it (iná ò mo eni ó dáa). In politics, as in the grassland, those who weaponise flames rarely die with unburnt roofs over their heads.
MORE FROM THE AUTHOR:OPINION: The Girls Of Chibok, Maga, Papiri And Our Frankenstein
The folktale above is the story of today’s ruling party. People in power think it is wisdom to weaken, scatter, or destroy opposition platforms outright. They have forgotten the ancient lesson of the village: When you burn every hut around you, you leave nothing to break the wind when it blows back. A democratic system that cannibalises opposition always ends up consuming itself. Our First Republic is a golden example to cite here. History is full of parties that dug graves for their rivals and ended up falling inside.
Literature is rich with warnings about the danger of lighting fires; they more often than not get out of control. In Duro Ladipo’s ‘Oba Koso’, Sango is the lord of fire and ultimately victim of his fire. In Shakespeare’s ‘Macbeth’, we see how a single spark of regicide grows into a blaze of paranoia and bloodshed that ultimately consumes Macbeth himself. In D. O. Fagunwa’s Adiitu Olodumare, we see how Èsù lé̟̟hìn ìbejì is consumed by the fire of his intrigues; Chinua Achebe’s ‘Things Fall Apart’ shows a similar pattern with Macbeth: Okonkwo’s role in Ikemefuna’s death ignites a chain of misfortunes that destroys his honour and his life. In ‘The Crucible’, Arthur Miller’s characters take turns to unleash hysteria through lies, only to be trapped by the inferno they created. Ola Rotimi’s ‘The Gods Are Not to Blame’ and even Mary Shelley’s ‘Frankenstein’ echo the same lesson. Again and again, literature insists that those who start dangerous fires whether of ambition, deceit, violence, or pride, should never expect to sleep safely. Always, the tongue of the flames turns and returns home.
Abacha must be very proud that the democrats who fought and hounded him to death have turned out his faithful students. From NADECO to labour unions and to the media, every snail that smeared Abacha with its slime is today rubbing its mouth on the hallowed hallways of his palace.
Under Abacha, to be in opposition was to toy with trouble. Under this democracy, all opposition parties suffer pains of fracture. Parallel excos here; factional groups there. Opposition figures are in greater trouble. It does not take much discernment before anyone knows that Tiger it is that is behind Oloruntowo’s troubles; Oloruntowo is not at all a bad dog. But how long in comfort can the troubler be?
In 1996, Professor Jeffrey Herbst of the Woodrow Wilson School, Princeton University, United States, asked: “Is Nigeria a Viable State?” He went on to assert – and predict – that “Nigeria does not work and probably cannot work.” He said the country was failing not from any other cause but “from a particular pattern of politics …that threatens to even further impoverish the population and to cause a catastrophic collapse…” That was Nigeria under Abacha. We struggled to avert that “catastrophic collapse”; with death’s help, we got Abacha off the cockpit, and birthed for ourselves this democracy. Now, we are not even sure of the definitions of ‘state’, ‘viable’ and ‘viability’. What is sure is that the “particular pattern of politics” that caught the attention of the American in 1996, is here in 2025. As it was under Sani Abacha, everyone today sings one song, the same song.
Abacha died in 1998; Abacha is alive in 2025. It is strange that his family members are not celebrating. How can you win a race and shut yourself up? My people say happiness is too sweet to be endured. The default response to joy is celebration but we are not seeing it in the family of the victorious Abacha. Because the man in dark goggles professed this democracy, this democracy and its democrats have apotheosised Abacha; he is their prophet. They take their lessons from his sacred texts; his shrine is their preferred place of worship.
MORE FROM THE AUTHOR:OPINION: Absurd Wars, Absurd Lords
“As surely as I live, says the Lord, every knee will bow before Me; every tongue will confess to God.” – Romans 14:11. Our political lords copied those words and, in profaned arrogance, read it to Nigeria and its terrorised people. Now, everyone, from governors to the governed, bows; their tongue confesses that the president is king, unqueriable and unquestionable.
When a man is truly blessed, all the world, big and small, will line up to bless him and the work of his hand. Governors of all parties are singing ‘Bola on Your Mandate We Shall Stand.’ In the whole of southern Nigeria, only one or two governors are not singing his anthem. Northern governors sing ‘Asiwaju’ better and with greater gusto than the owners of the word. In their obsessive love for the big man’s power and the largesse it dispenses, they assume that ‘Asiwaju’ is the president’s first name. They say “President Asiwaju.” The last time a leader was this blessed was 1998 – twenty-seven years ago.
Our thirst for disaster is unslaked. All that the man wanted was to be president; he became president and our progressive democrats are making a king out of him. And we watch them and what they do either in sheepish horror, complicit acquiescence or in criminal collusion. We should not blame the leader for seeing in himself Kabiyesi. That is the status we conferred on him. Even the humblest person begins to gallop once put on a horse. True. Humility or simplicity disappears the moment power unlimited is offered.
The chant of the president’s personal anthem is what Pawley and Müllensiefen call “Singing along.” It is never a stringless act. Worse than Abacha’s Two-Million-Man March, we see two hundred million people, crowds of crowds, move together in one voice, bound by an invisible script and spell. We feel a ‘terrorised’ democracy where citizens learn, through bowing, concurring and context rather than conviction, to sing the song of the kingly emperor. People who are not sure of anything again discover that synchronised voices create safety, and belonging. They proceed to stage it as a ritual for economic and political survival.
The popular Abacha badge decorated the left and right breasts of many fallen angels. Collective chanting signalled loyalty and reduced individual risk. Under this regime of democrats, the badge will soon come, but the chant is louder and wider cast. Unitarised voices have become instruments through which power is normalised, and by which dissent is dissolved.
MORE FROM THE AUTHOR:OPINION: Kukah And A Nation Of Marabouts
Two years into this democracy in 2001, Nigerian-American professor of African history and global studies, Raphael Chijioke Njoku, warned that “new democracies often revert to dictatorships.” He was a prophet and his scholarship prescient. We are there.
There are sorries to say and apologies to drop. On September 8, 1971, Nigeria killed Ishola Oyenusi and his armed robbery gang members because they stole a few thousands of Nigerian pounds. Why did the past have to shoot them when it knew it would stage greater heists in the future? It is the same with Sani Abacha and his politics. Why did we fight him so viciously if this grim harbour was our destination? I do not have to say it before you know that the spirit of the dead is out celebrating its vindication.
American political scientist, Samuel Huntington, in his ‘The Third Wave’, lists four typologies of authoritarian regimes: one-party, personal, military and racial oligarchy. The last on this list (racial) we may never experience in Nigeria but we’ve seen military rule and its unseemly possibilities. The emergence of the first two (one-party and personal dictatorship) was what we fought and quenched in the struggle with Abacha. Unfortunately, the evil we ran out of town has now walked in to assert its invincibility. What did Abacha’s sons do that today’s children of Eli are not doing ten-fold? Democracy is a scam, or, at best, an ambush.
Politicians have borrowed God’s language without His temperament. They have restructured the Presidential Villa into Nigeria’s Mount Sinai where commandments descend on tablets of gold bars. The whole country has become an endless Sunday service; the president sits on the altar, ministers and party chieftains swing incense burners, emitting smokes of deceit and self-righteousness; the masses kneel in reverence and awe of power. They look up to their Lord Bishop, the president, as he dispenses sweet holy communion to the converted – and dips the bottom of the stubborn into baptismal hot waters. We were not fair to Sani Abacha.
We cannot eat banana and have swollen cheek. But we can eat banana and have swollen cheeks. What will account for the difference is the sacrifice we offer to the mouth of the world. The words of the world rebuke absolute power. By choking the space for alternative voices, my Fulani friend said the ruling party is setting the whole political village ablaze, including the patch of ground on which its own structure stands. No parties or leaders survive the inferno they unleash on others. The flame of the fire the ruling party ignites and fans today will, inevitably, find its way home tomorrow.
News
Ex-Nigerian Amb., Igali, To Deliver Keynote Address As IPF Holds Ijaw Media Conference

…invites general public to grace event
A former Nigerian ambassador to Scandinavian countries, Amb (Dr.) Godknows Igali, is billed to deliver a keynote address at the second edition of the Ijaw Media Conference, scheduled for Wednesday, December 17, 2025, in Warri, Delta State.
In a statement jointly issued by Arex Akemotubo and Tare Magbei, chairman and secretary of the planning committee respectively, said the conference, with the theme: ‘Safeguarding Niger Delta’s Natural Resources for Future Generations,’ speaks to the urgent need for responsible stewardship of the region’s land and waterways.
According to the statement, the conference will feature
Dr Dennis Otuaro, Administrator of the Presidential Amnesty Programme, as the chairman while a former president of the Ijaw Youth Council, Engr Udengs Eradiri, will deliver the lead presentation.
READ ALSO:Otuaro: IPF Urges Reps To Take Caution Over Arrest Threat
The statement described Otuaro’s chairing the event as a reflection of the conference focus on policy, accountability and sustainable development in the Niger Delta.
According to the statement, both the keynote speaker and the lead presenter are expected to shape discussions on environmental protection, governance and the role of the media.
According to the statement, the Speaker of the Delta State House of Assembly, Hon. Emomotimi Guwor, is expected to attend as Special Guest of Honour.
The statement further list Pere of Akugbene-Mein Kingdom, HRM Pere Luke Kalanama VIII, first Vice Chairman of the Delta State Traditional Rulers Council, as Royal Father of the Day, while Chief Tunde Smooth, the Bolowei of the Niger Delta, as Father of the Day.
Others include: Mr Lethemsay Braboke Ineibagha, Managing Director of Vettel Mega Services Nigeria Limited; Prof Benjamin Okaba, President of the Ijaw National Congress; Sir Jonathan Lokpobiri, President of the Ijaw Youth Council; Hon. Spencer Okpoye of DESOPADEC; Dr Paul Bebenimibo, Registrar of the Nigerian Maritime University, Okerenkoko; Chief Boro Opudu, Chairman of Delta Waterways and Land Security; and Chief Promise Lawuru, President of the Egbema Brotherhood.
The organising committee said the conference is expected to bring together journalists, policymakers, community leaders, and researchers to promote informed dialogue and collective action toward protecting the Niger Delta for future generations.
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