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

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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.

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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.

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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.

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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.

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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.

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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

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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.

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“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.”

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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.

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“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.

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“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

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“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.

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“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

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Police Pension Scheme Violates Constitution, IHRC Tells Tinubu

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The International Human Rights Commission, Nigeria, has thrown its weight behind the renewed push by the Inspector-General of Police, Kayode Egbetokun, for a comprehensive reform of the Contributory Pension Scheme, as it affects retired officers of the Nigeria Police Force.

This is contained in a diplomatic memo addressed to President Bola Tinubu and titled “A Diplomatic Appeal for Police Pension Welfare Reform in Line with the Constitution of the Federal Republic of Nigeria.”

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In a statement signed on Saturday by IHRC’s Head of Media and Strategic Communications, Fidelis Onakpoma, the commission said the current pension arrangement for police personnel amounts to a constitutional breach and urged the President to take urgent corrective action.

The Head of Mission, IHRC , Ambassador Duru Hezekiah, was quoted in the statement as saying, “The commission firmly supports the Inspector-General of Police’s ongoing advocacy for a just and equitable pension scheme for retired police officers.

“We call on President Tinubu to urgently address the systemic flaws in the Contributory Pension Scheme, which violate constitutional provisions guaranteeing dignity and adequate social support for public officers.”

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READ ALSO:Human Trafficking: Police Rescue 40 Ghanaians, Arrest Three In Ondo

Citing Sections 17(3)(f) and 34(1)(a) of the 1999 Constitution (as amended), IHRC said the Nigerian state is legally bound to ensure the welfare and dignity of its retired officers, a responsibility it is currently failing in.

According to the commission, thousands of retired police officers are living in hardship under a pension system that disregards the realities of law enforcement service.

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The Constitution mandates the state to ensure the wellbeing of retired officers, not to abandon them to a broken system.

“The current structure of the CPS as applied to the police is inadequate, unfair, and incompatible with Nigeria’s constitutional values. These officers spent their lives in service—often in the face of extreme danger—yet they retire into poverty and indignity,” the IHRC stated.

The commission’s intervention follows a high-level meeting convened by the IGP on July 1, 2025, at the Force Headquarters in Abuja.

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READ ALSO:Police Arrest Cleric Over Alleged Defilement Of Underage Girl In Osun

The meeting brought together delegations from the National Association of Retired Police Officers of Nigeria, led by AIG Paul O. Ochonu (retd.), and the Coalition of CPS Retirees, led by CP Henry Njoku (retd.), to address mounting concerns over pension inadequacies.

During the meeting, Egbetokun reiterated his resolve to push for a more just and practical pension structure, describing the current system as a gross injustice.

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Our retirees deserve dignity, support, and a structure that reflects their sacrifice and service to Nigeria.

“We cannot continue to subject our heroes to a pension scheme that is clearly unfit for the nature of their work and the risks they bore,” the IG declared.

Egbetokun’s comments echoed sentiments he had expressed earlier in February during an interactive session with retired officers at the Police Resource Centre in Abuja, where he criticized the CPS as “deeply flawed and unfit for the realities of Police service.”

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READ ALSO:NMA Gives FG 21 Days To Avert Doctors’ Strike

The IHRC amplified this concern, highlighting what it described as an unjust disparity between Police and military retirees.

While the latter are exempted from the CPS and benefit from a more suitable pension arrangement, police retirees, the commission said, continue to suffer from a scheme that fails to provide basic security in old age.

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The military has rightly been removed from the CPS because of the peculiar nature of their job. The same logic applies—if not more so—to police personnel.

“Our police officers risk their lives daily, and they deserve a pension structure that reflects that reality. Anything less is an affront to justice, equity, and national security,” said Hezekiah.

In line with Tinubu’s Renewed Hope Agenda, the IHRC urged the Presidency to act decisively in addressing the disparity and upholding the constitutional and moral obligations of the state to its law enforcement agents.

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Reforming the police pension structure is not merely a policy issue—it is a constitutional and moral obligation. We believe this government has the opportunity to right this historical wrong and restore dignity to our Police retirees,” the statement read.
(PUNCH)

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FG To Spend N17bn On Lagos Bridge Damaged By Fire

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The Federal Government has negotiated the cost of the Iddo Bridge rehabilitation from an initial N27bn to N17bn.

The Minister of Works, Sen. Dave Umahi, made this known to journalists during an inspection of the bridge on Friday in Lagos.

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He said, “Julius Berger quoted, I think, N27 billion or thereabout, but after much negotiation and discussion, we now arrived at N17 billion.”

Umahi commended Julius Berger Nig. Plc. for demonstrating a sense of cooperation under its new leadership.

He described the company as a “born-again Berger”, attributing the breakthrough in negotiation to the understanding and openness of its new managing director.

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READ ALSO:FG Gives Overstaying Foreigners Ultimatum To Regularise Visa

The minister reiterated the government’s commitment to prudent spending, insisting that all contractors must align with the ministry’s standards and directives.

Umahi noted that the project had been reviewed from mere rehabilitation of the burnt section to a major work.

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He expressed concern over the poor condition of the bridge, blaming it on years of neglect and human abuse, including illegal occupation and collisions by heavy-duty trucks.

He said that three spans of the bridge were severely damaged by fire, which he attributed to activities of illegal occupants who had built makeshift homes under the bridge.

READ ALSO:FG Closes Case In Alleged Terrorism Trial Against Nnamdi Kanu

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They brought in chemicals, built block walls and set up homes. Then, they set up fire that burnt the bridge and damaged three spans. Now we are going to fix the bridge completely,” Umahi said.

The minister said the Iddo Bridge, now with a headroom of about 4.5 metres, had suffered significant structural damage due to continuous hits from trucks and illegal structures beneath it.

He announced that the ministry would be creating a headroom of at least 5.6 metres.

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He said that the Federal Ministry of Works was committed to restoring the bridge for the safety of all Nigerians and ensuring such incidents would not occur again.

READ ALSO:NMA Gives FG 21 Days To Avert Doctors’ Strike

On the issue of displaced persons, the minister said that no one would be allowed to return under the bridge.

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“Nobody will stay under Iddo Bridge again as long as I remain the Minister of Works.

“The lives of the people are more important,” he said.

He warned that the government would no longer tolerate any abuse of national infrastructure.
NAN

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Ex-Army Chief Proposes Mandatory Military Training For Nigerians

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Lt.-Gen. Azubuike Ihejirika (retd.),

A former Chief of Army Staff, Lt.-Gen. Azubuike Ihejirika (retd.), has called for the introduction of mandatory military training for all Nigerians, beginning with the National Youth Service Corps.

This, he said, is a way of promoting national unity, discipline, and resilience in the face of growing security and social challenges.

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Ihejirika made the call on Friday night at the 50th anniversary of the Nigerian Defence Academy Regular Course 18 Alumni Association in Abuja.

He reflected on his early days in military service and the camaraderie built over the years with fellow officers.

READ ALSO:FULL LIST: Nigeria Emerges As Africa’s Third Most Formidable Military Force

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The former Army chief said the discipline and patriotism instilled in them during training were instrumental in shaping their careers and national contributions.

Given the current situation of things in our country, I believe it’s time we start thinking about mandatory military training for our citizens.

“We can start with the National Youth Service. This will help us build a generation of Nigerians who understand sacrifice, responsibility, and patriotism,” he said.

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Ihejirika praised the government’s decision to restore the old national anthem, saying it reinforces the spirit of unity.

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He emphasised that the line “Though tribe and tongue may differ, in brotherhood we stand” perfectly captures the essence of national service and shared identity.

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He also expressed concern over how the national anthem is now reduced to mere fanfare at official events.

It should be a daily reminder of our oath of allegiance. It must return to schools, communities, and national ceremonies,” he said.

Drawing from his own life experience, Ihejirika recounted his humble beginnings from his village in Abia and how military discipline transformed him.

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He credited the support of colleagues and mentors for his successful career, which culminated in his appointment as Nigeria’s 22nd Chief of Army Staff.

READ ALSO:542 Senior Military Officers Retire

Beyond his advocacy, the retired general also commended the current leadership of the Nigerian Armed Forces, describing them as highly experienced and well-trained.

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Many of the officers leading today served in Liberia, Sierra Leone, and other conflict zones.

“They have earned their stars through real battle experience and are doing remarkably well,” he added.

He urged Nigerian leaders at all levels to prioritise peace and stability, reminding them that no office or position is sustainable in the absence of national unity.

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The News Agency of Nigeria reports that the dinner had in attendance the Minister of State for Defence, Chief of Defence Staff and representatives of service chiefs amongst other dignitaries.

NAN

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