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CBN To Sanction Banks With ATMs Without New Naira Notes



CBN To Sanction Banks With ATMs Without New Naira Not

Twelve days ahead of the January 31, 2023 deadline for the old N200, N500 and N1,000 notes to cease to be legal tender, the Central Bank of Nigeria (CBN) has urged Nigerians to report banks that fail to load their Automated Teller Machines (ATMs) with the newly redesigned notes.

The apex bank vowed to begin to sanction banks that fail to comply with the directive.

At a sensitisation event at the popular Computer Village market in Ikeja, Lagos yesterday, the director, Legal Services department of the apex bank, Mr. Kofo Salam-Alada, who represented the CBN governor, Godwin Emefiele, also emphasised that, the January 31 deadline for the old notes to cease to  be legal tender remains sacrosanct.

READ ALSO: Deputy CBN Governor Admits Not Knowing Quantity Of New Naira Notes Printed, In Circulation

Salam-Alada, While noting that he had gone round to some ATMs in Lagos and discovered that some were still dispensing old notes,Salam-Alada, said the apex bank would soon announce sanctions for banks that fail to comply with the directive to load up and dispense the new notes through their ATMs.

Noting that there was more than enough of new notes to go round, he stated that, the shortage of the new notes in circulation was due to the failure of banks to collect the redesigned N200, N500 and N1,000 notes from the vault of the CBN.

“I can tell you today that the CBN, on a daily basis, issues out the new notes. As we speak, banks are with the CBN taking money. We are actually begging banks to come and take money from the central bank.  We have these new naira notes in our vaults and we are begging banks to come and take them.

“We found out that a lot of things are happening that we need to checkmates, so we stopped  withdrawal of new notes over the counter to ensure  that everyone can have access to new notes and not one chief who is known to the manager walks in and  carts away all the new notes in a particular branch. That is why we said it should be in the ATMs which cannot distinguish people,” he said.

He added that, “what we are experiencing now will actually ease up very soon, because  the banks now know that there will be penalty for failure to come and pick money from the CBN and failure to dispense through the ATM. Tell your members that if they  have problems accessing the new naira notes, they can call the CBN to report,” he stated.

Salam-Alada, while reacting to questions from traders in the market that some are selling the new notes, stressed that, anyone caught selling the new notes or any denomination of the naira will face the full wrath of the law in the form of jailtime.

READ ALSO: New Naira Notes Now In Banks For Issuance – CBN

Speaking on the new notes, the president of the Coalition of Associations in Computer Village, Timi Davies, noted that, the production of the new naira notes is a good initiative “but unfortunately the new notes is not well circulated within our market. The ATM machines are not dispensing the new notes and only a few privileged ones seem to be having access to the new notes.

“We want to encourage the CBN and the government to enforce the deadline on the banks. There should be no bank that should not be giving the new naira from their ATM. All ATM should load the new notes. As we are giving the old notes we should be able to get the new notes. If the ATMs are not dispensing, the new notes will not flow around.”

On his part, the Olukosi of Ikeja Land, Chief Lateef Oluseyi, assured CBN of support of the traditional ruling house in educating the community.

Meanwhile, the CBN director dispelled rumors that the new naira was not durable demonstrating that the new notes do not wash off as many had claimed.

He also assured that the new note which, he said, has more than 35 security features is not East for counterfeiters to make, thus reducing the incidence of fake notes.


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‘Governor Abiodun Committed To Rule Of Law, Democracy’



Ogun State Governor Dapo Abiodun

The commitment of the administration of Governor Dapo Abiodun in Ogun State to ensure the preservation of the rule of law, battle corruption and, protect the tenets of democracy in the country has again been reiterated.

According to a top functionary of the government, apart from prioritising the welfare of the people, the administration is working hard to deepen the people’s beliefs in the nations democratic process.

Kayode Akinmade, a Chief Consultant on Media to the governor, who spoke while answering questions on a television programme on Friday, said as a law-abiding leader, the governor has always taken recourse to the judiciary to seek redress for himself and his administration whenever the need arises, rather than engage in self-help.

Akinmade stressed that the decision of the governor to approach the court over the matter between him and the impeached chairman of Ijebu East Local Government Area, Wale Adedayo, is a demonstration of his belief in the rule of law and his indisposition to ‘rule of force’.

Adedayo appeared before a Magistrate’s Court at Isabo, Abeokuta, on a petition filed by the state government against him over an earlier allegation of diversion of funds meant for Council Areas in the state. Governor Abiodun is insisting that the former Council boss must prove his allegations against his administration or face the wrath of the law for falsely inciting the people against the government.

Adedayo was arraigned on a two-count charge. According to Akinmade, it is wrong for people to rush to accuse the governor of persecuting Adedayo, who according to him, has “severally apologised to the governor in private while continuing with his ill-motivated misinformation in public.”

“The governor believes that taking Adedayo before the court will deepen our democracy and entrench the rule of law.

“Unlike some other people in Governor Abiodun’s shoes who would readily recourse to sending thugs after and unleashing other forms of violence on those who accused them rightly or wrongly, our governor decided to seek redress in court. I think he should be commended by all and sundry for this. What he is doing is giving Adedayo a chance to prove his allegations,” Akinmade said.

On the allegation by the impeached chairman that the governor is behind his removal, Akinmade said Adedayo was already facing removal from office before he raised the false alarms against the governor. “He has already been accused of several impeachable offences before he wrote the letter alleging that the governor diverted council funds. He had already reached out to the governor and other leaders of the party to help him stave off his removal. It was when he realized he may not survive the impeachment move that he connived with some other unscrupulous politicians in the party to malign the governor and discredit the APC in Ogun State,” Akinmade said.

The media chief added that claims by Adedayo that he got zero allocation since he became chairman of his local government were proved wrong by the Joint Account Allocation Committee (JAAC) in the state when the House of Assembly looked into his petition. He recalled that other council chairmen in the state also debunked the allegation and even brought Adedayo with them to apologize to the governor for the wrong allegations.

“But in spite of all these, he didn’t stop his scripted plot to tarnish the image of the governor. Hence, Governor Abiodun approached the court for redress,” he added.

Speaking further, Akinmade recalled that the impeached council boss has been in office for more than two years before making his frivolous and unfounded allegations. “One then wonders why he is raising this alarm now. He claimed zero allocation, but he has been collecting his monthly N3 million security votes regularly. Local government staff in his LGA are not being owed, and primary school teachers there are paid as at when due. We all should be asking him to explain what he meant by zero allocation,” he said.

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BREAKING: Kaduna Guber Tribunal Nullifies Election Of Governor Uba Sani



Kaduna State Governor UBA Sani

The governorship election petition tribunal sitting in Kaduna on Thursday declared the election of Uba Sani of the All Progressives Congress (APC) as inconclusive and thus nullified the exercise.

The tribunal made the declaration while delivering judgement via Zoom in a petition by the Peoples Democratic Party (PDP) and its candidate, Isah Ashiru, challenging the election of Sani in the March 2023, election.

The tribunal ordered that fresh election be conducted in seven wards in four LGAs of the state.

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In Shakeup Of FCT Administration, Wike Sacks Agencies, Parastatals Heads



BREAKING: Wike Dares Ayu To Stop Elections Of Ortom, Others
Federal Capital Territory Minister Nysom Wike

In a decisive shakeup of the administration of the Federal Capital Territory (FCT), its Minister Nyesom Wike, has sacked the heads of 21 parastatals, agencies, and government companies.

This was disclosed in a statement by the Director of Press, Office of the Minister, Anthony Ogunleye, in Abuja on Wednesday.

Ogunleye identified the affected heads of the agencies as follows:

1. Group Managing Director and Chief Executive Officer, Abuja Investment Company Ltd

2. CEO/Managing Director, Abuja Markets Management Ltd

3. MD/CEO, Abuja Urban Mass Transport Company

4. CEO/MD, Abuja Property Development Company

5. CEO/MD, Abuja Technology Village Free Trade Zone Company

6. CEO/MD, Abuja Film Village International

7. CEO/MD, Powernoth AICL Equipment Leasing Company Ltd

8. MD, Abuja Broadcasting Corporation

9. MD, Abuja Enterprise Agency

10. General Manager, FCT Water Board

11. Director-General, FCT Emergency Management Agency

12. Executive Secretary, FCT Primary Healthcare Board

13. DG, Hospital Management Board

14. Director, Abuja Environmental Protection Board

15. Director, FCT Scholarship Board

16. Director, FCT Christian Pilgrims Welfare Board

17. Director, Muslim Pilgrims Welfare Board

18. Coordinator, Abuja Infrastructure Investment Center

19. Director, FCT Health Insurance Scheme

20. Coordinator, Satellite Towns Development Department

21. Coordinator, Abuja Metropolitan Management Council

The director of the press said that the affected appointees should hand over the affairs of their offices to the most senior officers in rank.

He added that appointments in the offices would be made in due course.

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