CASH POLICY
The ongoing cash policy continues to affect the country’s economy. Nigerian banks insisted that they won’t comply with the Supreme Court’s order. Until they get an order from the Central Bank Of Nigeria, they won’t act.
“We can’t re-issue old notes without the CBN directive” — Banks.
Stakeholders in the financial sector and banks are divided over re-issuance of the old naira notes following the Supreme Court judgement extending their legal tender status till December 31st 2023.
While banks said they can’t commence re-issuance of the old notes until they are directed to do so by the CBN, stakeholders, including bank customers, financial analysts and business owners, have called for immediate re-issuance of the old naira notes in compliance with the Supreme Court.
AFTERMATH OF PRESIDENTIAL ELECTIONS
The presidential candidate of the Peoples Democratic Party, PDP, alongside other party leaders took to the streets today. The party and its members are protesting against the results from the February 25 Presidential elections. INEC declared Bola Tinubu, candidate of the All Progressives Congress (APC) as the winner of the elections. Tinubu polled 8,794,726 votes to defeat Atiku Abubakar of the PDP who had 6,984,520 votes and Peter Obi of the Labour Party (LP) who secured 6,101,533 votes. However, Atiku and the PDP rejected the declaration of Tinubu as the president-elect. They said the election was marred with infractions and they would challenge it in court.
Former President, Olusegun Obasanjo has described Nigeria, Africa’s most populous nation, as the “dwarf of Africa.” He claimed that although God created Nigeria to be great, Nigerians have sabotaged the creation.
March 11 Elections: INEC to reconfigure BVAS, seek court permission
The Independent National Electoral Commission, INEC, says it will approach the Appeal Court on Monday. This is for an order to allow it to reconfigure its Bimodal Voter Accreditation System (BVAS) for the March 11 elections. The court in its consideration, ordered INEC to allow the applicants to inspect all the electoral materials used in the conduct of the presidential election. The court permitted the appellants to do electronic scanning or make photocopies of the voters’ registration and ballot papers used in the presidential election.
FOCUS ON LAGOS
In Lagos State, the stage is set for what is expected to be a fiercely contested gubernatorial election in the state.
The Peoples Democratic Party, PDP, has denied reports of an alliance with the Labour Party, LP, in the forthcoming gubernatorial elections. This was related to the media by Lagos PDP spokesperson, Hakeem Amode. The spokesman said news of both parties coming together is a big farce. He stressed that Lagos PDP governorship candidate, Azeez Adediran, often addressed as Jandor, would not be stepping down for anyone. In a statement on Monday, Amode described the report saying Jandor is considering stepping down for Gbadebo Rhodes-Vivour, L.P candidate, as false.
ELECTION REPORTS
One police officer in Jos, Plateau State, has been arrested for opening fire at a civilian over election argument. A police spokesperson described the officer’s action as ‘unprofessional’. The circumstance that led to the infliction of the gun injury by the officer does not fit into his professional calling. It was done out of cowardice which contradicts the attributes of a Nigeria Police officer,” said the statement. It added that, ”In order to ensure that the officer does not evade justice, he has been arrested. His firearm recovered, and he has since been detained for disciplinary action.” He ended.
A chieftain of the All Progressives Congress, APC, Chris Adighije, has called on the Presidential candidate of the Labour Party, Peter Obi, to congratulate the nation’s president-elect, Bola Tinubu.
According to him, what Mr Obi needs now is to endear himself more in the hearts of the people of Nigeria. Mr Adighije, who chairs the APC stakeholders in Abia, said the Labour Party presidential candidate should consider his region in taking any decision. He expressed concern that Mr Obi’s action would go a long way to determine where the South-East would be in the political equation of Nigeria.
FOREIGN
TURKEY AND SYRIA EARTHQUAKES
One month on from the hour a magnitude 7.2 earthquake rocked some parts of Turkey. At least 50,000 people have died, millions have lost their homes and 214,000 buildings have collapsed since then. Millions of people remain in urgent need of help. The deaths and damage spans 11 provinces in Turkey alone. One month later, the death toll there is expected to rise even higher. This is because numerous victims have yet to be identified. Many people have still not been officially registered as dead, as survivors continue to look for their loved ones.
SPORTS
Premier league leaders, Arsenal, secured three points with virtually the last kick of the game. They came from two goals down to earn maximum points in a cracker at the Emirates Stadium. The London side started poorly and could have easily lost the match. But 2nd half goals from White, Odegaard and Nelson gifted all points to the side from North London.
TENNIS
Novak Djokovic extended his record of weeks as world number one to 379. This is visible in the latest ATP rankings released on Monday. Although Carlos Alcaraz remains in hot pursuit.
The 35-year-old winner of 22 Grand Slam titles edged ahead of Steffi Graf’s all-time record last week. This is despite losing in the Dubai semi-finals to Daniil Medvedev. The Russian ended Djokovic’s 20-match win streak and perfect start to 2023. Along the way claiming his third title in as many weeks with defeat of compatriot Andrey Rublev in Dubai’s Final.
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