CASH POLICY: OLD NOTES CONFUSION AS BANKS CARRY OUT CBN DIRECTIVES
Due to the ongoing cash policy issues in the country, banks were in disarray over the implementation of the CBN directives on the collection of old banknotes in N500 and N1000 denominations over the weekend. The managing director of APT Securities and Funds, Mallam Garba Kurfi, said:
Governor El-Rufai of Kaduna State has mentioned that the CBN withdrew 2 trillion naira from circulation and only replaced it with 400 billion naira new notes.
He made this known in a tweet via his verified Twitter handle, on Sunday.
He said the Apex Bank only confiscated the currency as against what was obtainable in the cash swap policy. According to El-Rufai, President Buhari approved redesigning the N200, N500 and N1000 notes, whereas the CBN only did recolor. Remember the naira crises peaked last week before the President intervened. Buhari urged Nigerians to deposit their old N500 and N1000 with the CBN. The President also said the old N200 note would remain a legal tender for the next 60 days until April 10th.
A Police headquarters was attacked yesterday by members of the Indigenous People Of Biafra, IPOB, in Anambra State. The attacks left six gunmen and a policeman dead. The Police spokesman, Tochukwu Ikenga, confirmed this in a statement to reporters. He said the Police department at around 5:44 AM foiled an attack by the insurgents and seized guns, cars and charms. “While some of the insurgents escaped with gunshot injuries, the situation is under control” He appealed to hospitals to quickly report any patient looking to treat a gunshot wound. The Anambra police command has continued to witness similar attacks on its facilities in recent times. Mr Ikenga has however, maintained that the command remains on top of the situation.
N3 BILLION FRAUD
While the wife of the Kogi State Governor, Yahaya Bello, is still at large for her role in a N3 billion alleged theft, a court in Abuja has granted bail to the Nephew of the governor and three others for 500 million naira each. Delivering the ruling, Judge Egwatu has said the granting of the bail was at the court’s discretion. He also said the sureties should be residents in Abuja with identifiable addresses and owned landed property worth N500 million. He subsequently adjourned the matter until April 16 for the trial to begin.
RIOTS CONTINUE IN NIGERIA
Still on the effects of the cash policy affecting the country. 15 persons were arrested in the local area of Oron, Akwa Ibom State for attacks on commercial banks. Sources from the area said 3 banks were set ablaze on Monday morning in the once peaceful community. Apart from the attacks on the banks, angry protesters also destroyed a cold room belonging to a prominent politician. They carted away packages of frozen fish and other edibles.
The All Progressive Congress, APC, has today scheduled a final rally in Lagos slated for the Teslim Balogun Stadium. Meanwhile, the General Manager of the Lagos Traffic Management Authority has announced a travel advisory to the party supporters. Mr Oregba said there will be a procession of the APC Presidential candidate, party stalwarts, party faithful and supporters from the local airport to the stadium. He duly advised motorists on alternative routes during the procession. According to him, while the procession will hold on the main carriageway on Ikorodu road, the service lane will be open to motorists without any hassle.
“Lagos will be conquered by PDP”- Okowa, Jandor.
PDP Presidential flag bearer and Governor of Delta State, Ifeanyi Okowa, and Gubernatorial candidate, Jandor Abdul-azeez, have vowed the party will conquer Lagos. Making this declaration in Ikeja, deputy primate, Adewole Ijaogbomo, said; “Lagos must be free from bondage. There is the need to make Lagos great again”. He also mentioned that no amount of criticism can solve the problem except people come together and defeat the ruling party. Governor Okowa finally added that “Once we win the elections, Lagos will become the land of the free.”
He also explained that the PDP would reverse the trend of poverty and hardship amongst Nigerians.
ADC ENDORSES PETER OBI
The African democratic congress, ADC, has today endorsed the Presidential candidate of the LP for the presidency. The endorsement came on the heels of a grand coalition for the Obi/Datti presidential ambition. This alliance include Nigeria Mothers For Good Governance, NMGG, Nigeria Artisans, League of Imams, and Yoruba United amongst others. Among those who attended the event include the ADC National Chairman, the BOT chairman and a chieftain of the Labour Party, Professor Pat Utomi.
David Oyedepo, the founder and senior pastor of Living Faith Church has slammed President Buhari’s APC regime as “nonsense” and ”afflictions.” He said the nation would break up if it had to witness another misrule of the APC regime and urged eligible voters to vote wisely. The prophet did not specifically state whom his congregation should vote for as he believes everyone has a right to vote whosoever.
TURKEY AND SYRIA EARTHQUAKES
Turkey has ended efforts in all but two provinces affected by the earthquake. Efforts however will continue in the cities of Antakya and Kahmaranmaras, which were rendered uninhabitable. The magnitude 7.8 earthquake has now killed more than 41,000 people in southern Turkey and 4000 more in neighboring Syria. Teams of rescuers remain active but largely confined to tented bases in parklands near the centre of the city. The Turkish vice-president, Faut Oktay, said that about 105,000 buildings had either collapsed or were severely damaged in the quake. Searches are well into the 8th day. If you would like to make a donation to support the cause, click this link.
Nigerian superstars, Burna Boy, Tems and Rema performed some of their biggest songs yesterday at the NBA All-Star Night. In a colorful event, Afrobeats was put on the global stage once again. Grammy-winning Burna Boy performed LAST LAST and a couple of other songs off his last album LOVE DAMINI, much to the delight of the Utah crowd, you can check out the blistering performances on YouTube in case you missed it yesterday.
The UEFA Champions League, UCL, returns this midweek as huge clashes await football lovers around the globe. English side Liverpool takes on Holders Real Madrid in one of the most anticipated clashes on Tuesday. Other matches are;
Frankfurt vs Napoli.
Inter vs Porto.
RB Leipzig vs Manchester City.
Arsenal regained their lead at the top of the table yet again after beating Aston Villa 2-4 away from home. They achieved top spot as Manchester City slumped to a 1-1 draw at Nottingham. The EPL continues this weekend as the race for top spot intensifies.
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Agbado don spoil this country, he need to pay for it 😡
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