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BREAKING: How Nigerians Keeping N2.7 Trillion At Home, Others Caused Naira Redesign – Emefiele

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BREAKING: How Nigerians Keeping N2.7 Trillion At Home, Others Caused Naira Redesign - Emefiele

The need to stop Nigerians from keeping N2.7 trillion at home instead of banks was among the reasons the federal government redesigned the naira notes.

The Central Bank of Nigeria, Godwin Emefiele, disclosed this on Sunday.

He revealed that N2.7trillion was lying idle in people’s homes prior to 2015 when the Buhari administration came on board.

He said as at 2015 currency-in-circulation was only N1.4 trillion, while as at October 2022, currency in circulation had risen to N3.23 trillion, out of which only N500 billion was within the banking industry.

“N2.7 trillion was held permanently in people’s homes,” Emefiele stated after he paid a visit to President Muhammadu Buhari in Daura, Katsina state, where both parties approved a ten-day extension for old currency swap.

Giving further explanations, the apex bank governor said ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN.

READ  ALSO: CBN Extends Withdrawal Of Old Naira Notes Deadline

He said since the commencement of the currency redesign and other monetary programmes, “about N1.9 trillion has been collected, leaving us with about N900 billion (N500 billion + N1.9 trillion).”

With the approval of the president, the deadline for the currency swap has been moved from January 31, 2023 to February 10, 2023.

Buhari had on Sunday, urged the CBN to allow more time, discretion and order to enable Nigerians to successfully change their currencies to the redesigned notes, and reduce the risk of loss, especially among the underserved in rural areas.

 

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BREAKING: Abacha’s Ex-chief Of Staff Oladipo Diya Dies

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Diya

Retired Lt.General Donaldson Oladipo Oyeyinka Diya, the former Chief of Staff in General Sani Abacha’s military government, is dead.

His death was confirmed by Prince Oyesinmilola Diya. He said the former military administrator of Ogun State passed on to glory in the early hours of 26th March 2023.

Born on the 3rd of April, 1944, Diya was military Governor of Ogun State after the Buhari-Idiagbon coup of December 31st, 1983.

Diya joined the Nigerian Defence Academy, Kaduna and fought during the Nigerian Civil War.

He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981) and the National Institute for Policy and Strategic Studies, Kuru.

While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to bar as Solicitor and Advocate of the Supreme Court of Nigeria.

He held other top military posts like GOC, 82 Division and finally the Chief of General Staff (military Vice President) to Gen Sani Abacha

The statement read: “On behalf of the entire Diya family home and abroad; we announce the passing on to Glory of our dear Husband,Father, Grandfather,brother, Lt- General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.

“Our dear Daddy passed onto glory in the early hours of 26th March 2023. Please keep us in your prayers as we mourn his demise in this period. Further announcements will be made public in due course.

“Barrister Prince Oyesinmilola Diya, on behalf of the family.”

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Breaking: Appeal Court Retains Adeleke As Osun Governor

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BREAKING: Adeleke Freezes Osun Accounts , Reverses Appointments After Swearing In As Governor
Governor Adeleke

The Court of Appeal sitting in Abuja has vacated the tribunal judgement that nullified the election of Governor Ademola Adeleke of Osun State.

The appellate court, in a unanimous decision by a three-member panel of Justices, on Friday held that the appeal Adeleke lodged to challenge his sack by the Osun State Governorship Election Petition Tribunal, was meritorious.

Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500, 000 cost against the All Progressive Congress, APC, and its candidate, Gboyega Oyetola

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BREAKING: PDP Suspends Anyim, Fayose

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Anyim and Fayose

Former governor of Ekiti State, Ayodele Fayose; former president of the Senate, Pius Anyim; Prof Dennis Ityavyar and Aslam Aliyu were on Thursday suspended from the Peoples’ Democratic Party (PDP).

The PDP made the suspension on Thursday after an extensive review of the affairs of the party, pursuant to the provisions of the PDP Constitution (as amended in 2017).

The PDP also referred the Governor of Benue State, Samuel Ortom, to the National Disciplinary Committee over his reported involvement in anti-party activities.

This was disclosed in a statement signed by the National Publicity Secretary, Debo Ologunagba.

“The PDP urges all leaders, critical stakeholders and teeming members of our party across the country to remain united and focused at this critical time,” the statement added.

 

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