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Naira Scarcity: Disobedience To Supreme Court Ruling May Cause Breakdown Of Law, Order – ACF

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The Arewa Consultative Forum (ACF), has cautioned against the continuous disobedience of the Supreme Court ruling on the naira redesign policy by the federal government.

The Forum said the continuous disobedience by the Central Bank of Nigeria could lead to a breakdown of law and order in the country.

The Supreme Court in its last judgment extended the use of the old naira notes in the country till December 31.

But the Arewa Consultative Forum, which claimed the ruling is being disobeyed by the CBN said in a statement that the current approach of the Central Bank of Nigeria (CBN) raises concerns about the respect for the civil liberties and rights of Nigerians regarding their freedom to use legitimately earned income as they wish.

Murtala Aliyu, the ACF Secretary General, argued that whatever the CBN or anyone else says about the benefits of the policy is of little comfort to Nigerians considering their suffering in assessing funds.

The statement said ”ten days is long enough time for the government to find its way towards complying with a court order which is central to the achievement of peace, order and good governance in the country”.

READ ALSO: Naira Scarcity May Push Nigerians Into Depression, Suicide —Psychiatrist

The Forum reminded that President Muhammadu Buhari is under the oath to defend the constitution of Nigeria, stressing that as his long-term supporters, it would be remiss of Nigerians if they fail to warn that the much-touted benefits of the naira redesign can never justify the damage to his credentials as a democrat and a stickler for the rule of law.

The forum expressed concern that the huge crowds and long queues formed around bank offices and ATM points across the country, pointing out that the people had been struggling to get the new cash which has remained extremely scarce and has triggered riots and other forms of civil unrest.

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PICTORIAL: Lagos Arrests 10 Fake Enforcement Officials

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The Lagos State Government has arrested 10 individuals parading themselves as enforcement officials at the Cele/Itire axis of the state.

This was made known in an update shared by the state governor’s Special Assistant on New Media, Jubril Gawat, on his X account on Friday.

Sharing photos, Gawat wrote, “The Lagos State Government has apprehended 10 fake enforcement officials at Cele/Itire axis of the state.

READ ALSO: FG, States, LGs Share N1.123tn In March

“The apprehended persons; Ojo Oluwaseun, Rafiu Agbabiaka, Babatunde Ibrahim, Abiodun Olusegun, Daniel Olanrewaju, Aweda Kabiru, Olufowobi Michael, Olamilekan Olasupo, Bunmi James and Iyiola Shola (female) were caught carrying out unauthorised enforcement earlier today using different fake ID cards.

“The Permanent Secretary, Ministry of Transportation, Mr. Olawale Musa, while addressing the press, revealed that the arrest was made in response to complaints registered at the ministry by concerned citizens.”

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Forgive Me, Purported Hausa Traditional Ruler Begs Benin Monarch

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Following the reservation the Benin Traditional Council raised over the planned installation of Alhaji Danjuma Binkola as Hausa traditional ruler (Garkuwan Hausawan) in Benin, Edo State capital, the embattled Binkola has begged for forgiveness.

Binkola, who was to be installed on May 5, was seen in a viral video begging the Oba of Benin, Oba Ewuare II, for forgiveness.

Binkola, who spoke in Pidgin English in the video, pleaded ignorance of the magnitude of his purported installation as the Garkuwan Hausawan Benin.

READ ALSO: Police Seal Off Benue APC Factional Secretariat

He said, “I know the traditions and customs of the people of the state, having been born and raised in Edo State, the same way my father, Alhaji Garuba, was born and raised in Benin.

“I did not know the implications of my actions, as the person who was to confer the title on me only told me that my role was to assist him in overseeing the activities of the Hausa Community in Edo State while, in return, communicating to the palace.”

He, however, begged the monarch to forgive him, noting that Edo State had favoured him.

READ ALSO: FG, States, LGs Share N1.123tn In March

The Benin Traditional Council, had in a statement on Thursday, warned against the purported turbaning of anyone as Garkuwan Hausawan Benin in Edo State.

The statement read, “The BTC hereby inform the Nigerian Police Force and other security agencies as well as the general public, that this planned event is a violation of Benin Tradition and Customary Law applicable to chieftaincy matters and therefore must not hold under any circumstances.

“Consequently, BTC therefore warned the organisers of the installation against violating the sanctity of the Benin Traditional and Customary Law by cancelling the planned ceremony.”

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FG, States, LGs Share N1.123tn In March

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The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024.

The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers.

This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday.

FAAC has the duty of examining and approving the distribution of financial resources to the states and the Federal Government.

READ ALSO: FAAC Shares N907b To FG, States, LGs

Monthly, this committee is tasked with the disbursement of funds across Nigeria’s 36 states and its 774 local government areas.

This allocation is anticipated to drive progress and support governmental bodies across various tiers in executing their duties.

The PUNCH reported that the FAAC shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2.326.14trn

Manga stated that the Accountant General of the Federation, Mrs. Oluwatoyin Madein, chaired the meeting and highlighted the importance of the allocation.

READ ALSO: FAAC: FG, States, LGs Share N1.15trn For January

“This distribution is pivotal in ensuring that all government levels have the necessary funds to continue their development projects and provide essential services to the citizens,” the statement read.

The statement noted that the Federal Government received N345.890bn, states, and local governments received N398.689bn and N288.688bn, respectively, while oil-producing states received N90.224bn as 13 per cent mineral revenue derivation.

The FAAC statement also noted an increase in the gross revenue from Value Added Tax for March 2024, amounting to N549.698bn—an N89.210bn rise from the previous month.

This increase reflects the country’s economic growth and improved tax compliance.

READ ALSO: FG, States, LGs Share N714.629bn March FAAC Revenue

Despite the positive trend in VAT, the Gross Statutory Revenue of N1.017tn for March was lower than February’s N1.192tn by N175.212bn.

The decrease has been attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

The balance in the Excess Crude Account as of April 2024 stands at $473,754.57, indicating a reserve for future financial stability.

The statement noted that the FAAC’s decision to allocate these funds is expected to bolster economic activities across the nation and support the government’s efforts in improving infrastructure, healthcare, education, and other vital sectors.

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