Ekpa was arrested in Finland along with four others for alleged terror-related activities, including incitement to violence and terrorism financing in Nigeria.

Speaking in Awka, the governor disclosed that before he became governor, eight local government areas in the state were being controlled by gunmen.

Soludo recalled that: “Kidnapping is not new, my father had been kidnapped as far back as 2009. GU Okeke, Pokobros and many others have fallen victim too.

“They killed policemen and collected guns, attacked and burnt down police stations and went into the bush to label themselves liberators.

“We recovered the eight local government areas that were under siege. These gangs claim to be Biafra freedom fighters. IPOB has dissociated themselves from it, but one Simon Ekpa has continued kidnapping for ransom.

“With a culture that celebrates wealth without craft, even the kidnappers amongst us are now celebrated. Idolatry which these criminals have converted to have become the fastest growing religion in the South-East. Nothing is sacred to them anymore.”

The post Soludo Exposes Mastermind of Kidnapping For Ransom In South East appeared first on Daily Dates Nigeria.

Emefiele, who arrived at the Lagos High Court, Ikeja in the custody of operatives of the Economic and Financial Crimes Commission (EFCC) on Friday, left for his home after the court proceedings.

Justice Rahman Oshodi, who ruled on his bail application, admitted him to bail in the sum of N50m with two sureties in like sum.

Shortly after the court granted him bail, the trial started with the EFCC calling its first prosecution witness.

The witness, a staff of the Central Bank of Nigeria (CBN), Monday Osazuwa, told the court how the former CBN Governor on different occasions, directed him to collect the sum of $3 million cash in tranches.

The court has adjourned to April 29 for the continuation of the trial and hearing of some applications requesting a closed session for some of the prosecution’s witnesses.

The post Emefiele Released After Meeting Bail Conditions appeared first on Daily Dates Nigeria.

This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate, as listed below: (1) Mrs. Emem Nnana Usoro (2) Mr. Muhammad Sani Abdullahi Dattijo (3) Mr. Philip Ikeazor (4) Dr. Bala M. Bello In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.

The post Tinubu Nominates Cardoso As CBN Governor appeared first on Daily Dates Nigeria.

The directive followed an earlier ultimatum issued by the Central Working Committee members of the NLC last week criticising the cash swap policy of the Federal Government.

Ajaero said the decision to picket CBN branches became necessary, as the Federal Government and the CBN have not shown any commitment to address the situation.

He lamented that despite the Supreme Court order allowing the old N500 and N1000 notes to circulate with the new notes till December 31 this year, the situation appears to be getting worse as workers cannot access cash to pay fares to work, nor can they buy food for their families.

Briefing reporters on Wednesday at the headquarters of NLC, the apex Labour union also criticised the pricing irregularities in the petroleum sector, which was also a cause for concern.

“Last week, we gave an ultimatum for the review of the cash crunch bedeviling the country, but we have discovered to our dismay that as at this moment not much effort has been made to ameliorate the situation, the government is still foot dragging on these issues we raised.

“Based on this, we met again this morning to review our position and resolved that by Wednesday next week, all CBN branches will be picketed.

“Workers are directed to stay at home too because people cannot eat, workers can no longer go to the office, we have been pushed to the wall, we have decided to take our destiny in our hands, we have mobilised our workers for this exercise,” Ajaero stated.

The post Just In: NLC Declares Nationwide Strike appeared first on Daily Dates Nigeria.

The apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin disclosed this in a statement on Monday, Daily Dates Nigeria reports.

“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly,” the statement read.

The post Breaking: CBN Extends Deadline On Old N200, N500, N1,000 Notes appeared first on Daily Dates Nigeria.

My Dear Compatriots,

I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.

2. Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening of the loopholes associated with money laundering.

3. Let me re-assure Nigerians, that strengthening our economy, enhancing security and blockage of leakages associated with illicit financial flows remain top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.

4. In the last quarter of 2022, I authorised the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1000 Nigerian banknotes.

5. For a smooth transition, I similarly approved that the redesigned banknotes should circulate concurrently with the old bank notes, till 31 January 2023, before the old notes, cease to be legal tender.

6. In appreciation of the systemic and human difficulties encountered during implementation and in response to the appeal of all citizens, an extension of ten days was authorized till 10th February, 2023 for the completion of the process. All these activities are being carried out within the ambit of the Constitution, the relevant law under the CBN Act 2007 and in line with global best practices.

7. Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you a few critical points underpinning the policy decision. These include:

a. The need to restore the statutory ability of the CBN to keep a firm control over money in circulation. In 2015 when this administration commenced its first term, Currency-in-Circulation was only N1.4trillion.

b. The proportion of currency outside banks grew from 78%in 2015 to 85% in 2022. As of October 2022, therefore, currency in circulation had risen to N3.23 trillion; out of which only N500 billion was within the Banking System while N2.7 trillion remained permanently outside the system; thereby distorting the financial policy and efficient management of inflation;

c. The huge volume of Bank Notes outside the banking system has proven to be practically unavailable for economic activities and by implication, retard the attainment of potential economic growth;

d. Economic growth projections make it imperative for government to aim at expanding financial inclusion in the country by reducing the number of the unbanked population; and

e. Given the prevailing security situation across the country, which keeps improving, it also becomes compelling for government to deepen its continuing support for security agencies to successfully combat banditry and ransom-taking in Nigeria

8. Notwithstanding the initial setbacks experienced, the evaluation and feedback mechanism set up has revealed that gains have emerged from the policy initiative.

9. I have been reliably informed that since the commencement of this program, about N2.1 trillion out of the banknotes previously held outside the banking system, had been successfully retrieved.

10. This represents about 80% of such funds. In the short to medium and long terms, therefore, it is expected that there would be:

a. A strengthening of our macro economic parameters;

b. Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in less pressures on domestic prices;

c. Lowering of Inflation as a result of the accompanying decline in money supply that will slow the pace of inflation;

d. Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;

e. Exchange Rate stability;

f. Availability of Easy Loans and lowering of interest rates; and

g. Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti- money laundering legislations.

11. I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.

12. To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through availability of appropriate amount of currency; and ability to make deposits.

13. I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.

14. During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.

15. I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.

16. To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.

17. In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

18. Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.

19. Let me assure Nigerians that our administration will continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened. In this regard, the CBN shall ensure that new notes become more available and accessible to our citizens through the banks.

20. I wish to once more appeal for your understanding till we overcome this difficult transient phase within the shortest possible time.

21. Fellow citizens, on the 25th of February, 2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.

22. This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.

23. I urge every citizen therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.

24. I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Elections.

Thank you for listening. God bless the Federal Republic of Nigeria.

The post Full Text Of President Buhari’s Broadcast On Old Naira Notes appeared first on Daily Dates Nigeria.

The President’s nationwide broadcast is coming amid strong reactions and protests to the lingering cash crunch experienced by millions of Nigerians across the country in the last few weeks.

Earlier in the day, the President had met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, hours after the Supreme Court adjourned the suit filed by state governments to challenge the naira redesign policy of the CBN till February 22.

The post Buhari Extends The Use of Old N200 Notes Till 10th April appeared first on Daily Dates Nigeria.

The court, meanwhile, ordered that any of the commercial banks found hoarding the N200, N500, and N1,000 redesigned notes would be arrested and prosecuted in accordance with the law of the country.

Justice Eneojo Eneche gave the order on Monday after reviewing the suit brought before the court by four applicants, asking that the date fixed by the apex bank for the currency swap be maintained.

The applicants were four political parties and they were Action Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM), and National Rescue Movement (NRM).

The post Court Restricts Buhari, CBN From Postponing Old Naira Notes Deadline appeared first on Daily Dates Nigeria.

CBN Governor, Godwin Emefiele, announced the extension in a statement signed on Sunday after meeting President Muhammadu Buhari in Daura, Katsina State.

“The new deadline is now 10 February instead of the former 31 January deadline” he said.

The post CBN Extends Deadline Of Old Naira Notes appeared first on Daily Dates Nigeria.

CBN Governor, Godwin Emefiele, had insisted that January 31 deadline remains sacrosanct for old notes.

Speaking during the recent Monetary Policy Committee (MPC) meeting which held in Abuja, Emefiele said, the CBN together with the Presidency felt that 100 days was enough for people who had old notes to deposit them in the banks.

He noted that the bank took several measures and embarked on various strategies to ensure banks remained open to accepting the old notes.

“We do not see any reason for a shift or extension because we did enough to encourage Nigerians to bring these old notes to the bank. At the initial stage, we observed that banks were paying these new notes to their priority customers and we ordered them to stop over the counter withdrawals and told them to dispense these notes via their ATMs. That worked but when new notes finished, we told them to put in the old notes to ensure that customers can still withdraw money to go about their needs.

Reacting to the development, governors as well as the senate have urged the apex bank to soft-pedal on its deadline for phasing out old Naira notes fixed for the end of January but to extend to July 31, 2023.

One Janet Aondo, who was spotted at Karu, Abuja with the old N1,000 note, said she was frustrated.

Aondo said she came out to get snacks for her children to take to school but was told that she only make payment with the new naira note or transfer.

The CBN, how do we change our own now?
Or don’t citizens in the abroad matters? pic.twitter.com/SBh4PGA2nx

— (@ScofieldOkpara) January 28, 2023

The post New Naira: Panic Across Nigeria As CBN Deadline Looms appeared first on Daily Dates Nigeria.