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

Published

1 year ago

February 9, 2023

Editor

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.

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.

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.

“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

Primary School Pupil Bags N21m Scholarship For Scoring 100% In Maths Competition

Published

11 hours ago

May 20, 2024

Editor

A young mathematics prodigy, Ugwoezuonu Ogechi Zara, has reportedly been awarded a N21 million scholarship after scoring a perfect score of 100% in the primary category of the National Mathematics Competition organised by the Mathematics Association of Nigeria.

An education activist and Chief Executive Officer of Educare, Alex Onyia, disclosed this on Friday via X while expressing pride in Zara’s exceptional performance.

“Ugwoezuonu Ogechi Zara scored a perfect score of 100% in the primary category of National Mathematics Competition organised by Mathematics Association of Nigeria (MAN),” Onyia stated.

Accordingly, Zara’s outstanding achievement has secured her a full six-year scholarship at Evergreen College in Enugu.

“She has been awarded a full scholarship worth N21 million to study for six years at Evergreen College, Enugu,” Onyia added.

The National Mathematics Competition, organised annually by MAN, is a highly competitive event that attracts the brightest young minds from across the country.

On Monday, six students of Divine Rays British School in Idemili North Local Government Area of Anambra State emerged tops in the just-concluded 2024 National Mathematics Competition, organised by Catalyst Consulting and held across designated states of the country.

News

[UPDATED] N30,000 Minimum Wage: Labour Issues Two-week Ultimatum To Defaulting States

Published

11 hours ago

May 20, 2024

Editor

The organised labour comprising of the Nigeria Labour Congress and Trade Union Congress, on Monday, ordered state chapters to issue two weeks ultimatum to states that have failed to implement the old N30,000 minimum wage.

The NLC and TUC took this decision during a jointly held National Executive Council meeting which took place on Monday.

Today’s meeting was held ahead of the meeting with the Tripartite Committee on minimum wage which is slated for

The committee is expected to meet Tuesday after negotiations failed last week following the walkout by Labour as the FG proposed the sum of N48,000 as the new minimum wage.

The Chairman, Tripartite Committee on National Minimum Wage, Bukar Goni, indicated in a letter of invitation to labour leaders that negotiations would continue on Tuesday.

The Organised Private Sector, on the other hand, proposed an initial offer of N54,000. After dumping the talks, the labour leaders addressed a press conference where they expressed their anger over the FG’s offer.

The National President, Nigeria Labour Congress, Joe Ajaero, insisted on N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the current economic situation and the needs of an average Nigerian family of six.

He blamed the government and the OPS for the breakdown in negotiation, saying, “Despite earnest efforts to reach an equitable agreement, the less than reasonable action of the Government and the Organised Private Sector has led to a breakdown in negotiations.”

In a statement released at the end of the jointly held NEC meeting by the NLC and TUC which was signed by Ajaero and TUC President Festus Osifo, the unions said, “The NEC acknowledges the ongoing negotiations between the NLC/TUC, the Organised Private Sector and the Federal Government regarding the new national minimum wage.

“While appreciating the efforts made thus far, the NEC emphasises the urgency of reaching a fair and equitable agreement that reflects the true value of Nigerian workers’ contributions to the nation’s development and the current crisis of survival facing Nigerians as a result of government’s policies. The NEC affirms its commitment to ensuring that the interests and welfare of workers are adequately protected in the negotiation process.

“The NEC-in-session, therefore, reiterates the ultimatum issued by the NLC and TUC to the Federal Government, which expires on the last day of this month. It emphasises the non-negotiable nature of the demands put forth by Nigerian workers and urges the government to prioritise the resolution of these issues in the best interest of industrial peace.

“NEC-in-session further directed all state councils whose State Governments are yet to fully implement the N30,000 National Minimum Wage and its consequential adjustments to issue immediately a joint two-week ultimatum to the culpable State Governments to avert industrial action.”

The unionists directed that all “affiliates and workers in the Anambra State council mobilise their members to ensure a successful action in the event the State Government fails to meet the demands of workers by Thursday, the 23rd of May, 2024.”

“NEC therefore calls on all affiliate unions, and workers including Civil Society Organisations across Nigeria to remain united and steadfast in solidarity during this critical period. Together, we shall prevail in our pursuit of a fair and just society that guarantees the dignity and well-being of all its citizens.

“The NECs – in – session finally affirms its unwavering commitment to championing the cause of Nigerian workers and ensuring that their rights and interests are upheld at all times,” the statement concluded.

Tinubu through Vice President Kashim Shettima, on January 30, 2024, inaugurated the 37-member Tripartite Committee on Minimum Wage to come up with a new minimum wage ahead of the expiration of the current N30,000 wage on April 18, 2024.

With its membership cutting across Federal and State Governments, the private sector, and organised labour; the panel is to recommend a new national minimum wage for the country’s workers.

During the inauguration of the panel, Shettima urged the members to “speedily” arrive at a resolution and submit their reports early.

“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.

In furtherance of its assignment, a zonal public hearing was held simultaneously on March 7 in Lagos, Kano, Enugu, Akwa Ibom, Adamawa states, and Abuja.

The NLC and the TUC, in different states, proposed various figures as a living wage, referencing the current economic crunch and the high costs of living.

In their different proposals on the minimum wage, the NLC members in the South-West states demanded N794,000 as the TUC suggested N447,000.

At the North-Central zonal hearing in Abuja, the workers demanded N709,000 as the new national minimum wage, while their counterparts in the South-South clamoured for N850,000.

In the North-West, N485,000 was proposed, while the South-East stakeholders demanded N540,000 minimum wage.

However, the organised labour settled for N615,000 as a living wage.
PUNCH

News

JUST IN: NLC To Picket Turkish Airline

Published

12 hours ago

May 20, 2024

Editor

The national secretariat of the Nigeria Labour Congress has ordered its members in Lagos State to shut down Turkish Airlines in the state on Tuesday over the sacking of seven of its members.

The NLC stated that it would ensure the picketing of the airlines until its management reinstates the affected workers.

According to an NLC statement signed by the union’s General Secretary, Chris Uyot, on Monday, the NLC noted that seven of its members working with the airlines were sacked for unionising under the umbrella of the National Union of Air Transport Employees.

In April, NUATE threatened to picket airlines operating in the country after they had refused their staff the opportunity to join trade unions of their choice.

NUATE said such an act was against labour law for some airlines to make employment conditional upon not joining a trade union, adding that those who threaten workers with sacks, if they join unions, are working against Nigerian laws.

Aside from the seven persons earlier sacked, the NLC noted that it has gathered that the airline is attempting to lay off four other members of the union.

“By the above action of unjustifiable dismissal of their workers, the management of Turkish Airlines has put to waste 10-14 years of service. And this fate has befallen these hapless workers purely on account of exercising their constitutional rights to belong to a trade union. Congress will not tolerate this situation.

“Therefore, the Lagos State Council of NLC is hereby directed to commence picketing of Turkish Airlines in Lagos with effect from Tuesday 21st May 2024 until all staff of Turkish Airlines who have been sacked, dismissed, forced to abandon duty, or forced to resign under duress, including those victimised for their union membership in 2020, have been fully restored to their jobs without any losses of any kind.

“All affiliate unions in aviation are particularly charged to mobilise heavily for the picketing action without fail, please.” the union’s statement read partly.

Meanwhile, the union further stated that the Federal Capital Territory Council would be standing by in case “the need arises to escalate the matter to the Abuja airport.”