BREAKING: [Naira Crisis] Emefiele At Villa, Urges Compliance With Buhari’s Directive
Emefiele’s visit comes hours after the President, in a televised message, announced the new directives.
Emefiele’s visit comes hours after the President, in a televised message, announced the new directives.
“The State Government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22.” He further stated…
“Unfortunately, some pockets of violent protests resulting in the loss of innocent lives and properties had occurred in some parts of the country.” They said
The protesters comprised mainly tricycle and motorcycle operators who were angered by the commercial banks’ refusal to accept the old 200, 500, and 1000 naira notes.
This comes about one week after the Supreme Court, in a ruling on February 8, suspended the CBN’s February 10 deadline to halt the use of old naira notes.
He expressed optimism that the circulation of old notes and gradual withdrawal and replacement of old with new notes would ease people’s sufferings.
A seven-member panel led by Justice John Okoro halted the federal government plan in a ruling in an exparte application brought by three northern states of Kaduna, Kogi, and Zamfara.
Recall that the CBN earlier gave a ten-day additional ultimatum for the return of the old naira notes to the banks.
NAN reports that the introduction of the new redesigned N1,000, N200, and N500 notes and their slow-pace release in the system by commercial banks, as directed by the Federal Government, has been causing hardship to the people.
“We are committed to supporting INEC in the area of electronic means of payment and cash to pay some service providers during the #NigeriaDecides2023 election.”
“It’s only in Nigeria that the court would acquit someone and a leader would refuse to let him go.”
The arrest is consequent to the earlier warning issued by the Central Bank of Nigeria against any form of breach of procedures for the swap of the old and redesigned naira notes.
The state governments were worried by the effects the Central Bank of Nigeria’s naira redesign policy is having on the residents of their states.
This was as the association extolled President Muhammadu Buhari for insisting that the 2023 elections must be free, fair, and credible.
It’s an offense contrary to Section 21 (5) of the Central Bank of Nigeria, CBN Act, 2007.
This is a sequel to the warnings by the Central Bank of Nigeria against suspected and potential perpetrators of such acts
We wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever.
This had become imperative to ensure the purpose and objective of initiating the redesigning of the currency are not destroyed. He said.
This, the Tinubu support group said, saved the nation from going up in flames, following the anger which pervaded the atmosphere before the sudden 10-day extension.
It would be recalled that last November, the Central Bank announced that it would redesign the series of N200, N500, and N1000 notes of the Naira.