Banks Receive Redesigned Notes Ahead of December 15
The Central Bank of Nigeria (CBN) has commenced the distribution of the newly redesigned naira to the banks in readiness for issuance to customers as the new policy kicks off December 15, 2022.
Godwin Emefiele, CBN’s governor disclosed this on Thursday during a visit to President Buhari in his Daura home, Katsina state.
Emefiele who said the new notes were sent to the banks on Wednesday, insisted that the timelines – in terms of December 15 for commencement and the January 31 deadline were sacrosanct, but signaled that the CBN may tinker with the new policy on cash withdrawal limits.
He also disclosed that since the announcement of the new policy, the apex bank has taken more than N500 billion from the banks and have also deposited close to that number there.
He said his visit was part of the normal presidential briefing which had been overdue and that discussions centered around developments in the Central bank, the economy, and more importantly on the cashless policy under which the notes were being redesigned.
“Only yesterday, the new currency has now reached the banks and we believe that the banks will begin to distribute them to the members of the public who are their customers,” the governor stated, adding that the visit was also to assure the president of no hitches so far in the implementation process.
Emefiele, while assuring that the central bank and the entire banking system were already prepared for the policy roll out, also announced that there were already 1.4 million super agents all over the country offering banking services where citizens can explore, particularly the rural dwellers.
When asked to react on the recent push-back especially from the National Assembly, Emefiele assured that the lawmakers would be briefed on developments but pleaded for an understanding and cooperation for the success of the currency redesign, which he said targets no one but was thought out to drive the cashless policy, the economy and for the good of the citizens.
His words: “We will brief them. But I think it’s important for me to say that the cashless policy started in 2012. But on almost three to four occasions we had to step it down because we felt that the need for us to prepare and deepen the payment system infrastructure in Nigeria.
“Between 2012 and now 2022, almost 10 years, we believe that a lot of electronic channels have been put in place that will aid people in conducting banking and financial service transactions in the country.
“We heard people talk about some of the people in the rural areas and the truth is that even as I was coming out today to Daura, I saw a kiosk that has a super agent.
“It’s because of the way we have deepened the payment system infrastructure.
“We have 1.4 million super agents that are all over different parts of the country, all local governments, and all villages in this country. Some of their names are already on the CBN website and we will publish the names of all these super agents.
“And having 1.4 million super agents which are different from the banks, microfinance banks, and other financial institutions is as good as having 1.4 million banking points where people can conduct services.”
He said as the largest country in Africa in terms of population and economy, it was now time for Nigeria to leapfrog into the cashless economy.
“We cannot continue to allow a situation where over 85 per cent of the cash in circulation is outside the bank. More and more countries that are embracing digitization have gone cashless,” he noted.
“I have said it at different fora, that this is not targeted at anybody, it’s just meant for the good and development of the Nigerian economy and we can only continue to appeal to Nigerians to please see this policy the way we have presented it.
“We will be reviewing from time to time how this is working because I cannot say that we are going to be rigid. But it is not to say that we will reverse or change the timing, but whether it is about tweaking some amount to be a little higher or a little bit lower, and all the rest of them, we will do so because we are humans.
“We want to make sure that we are making life good for our people. We do not want to make life difficult for them.
“So there is no need for anybody to worry, the central bank is monitoring what is happening and I can assure everyone that we are up and alive to our responsibilities and we will do what is right for Nigeria and Nigerians,” the governor reassured.
He however emphasized that by January 31, 2023, all the old N200, N500 and N1,000 notes will cease to be legal tender in line with schedule, and urged citizens to utilize all the available channels and deposit these notes before the deadline.
Courtesy Economic Confidential
ANTI PARTY ACTIVITIES: Esan Central APC, Suspends Nine Leaders, Appoints Bello
Nine Leaders of the All Progressives Congress (APC) in Esan Central LGA have been suspended at an extraordinary meeting held this evening at Irrua, the LGA capital.
The suspended leaders include APC State Vice Chairman, Chief Francis Inegbeniki, Esan Central foremost Party Leader, Prince Willy Shaka Momodu, Ward Leader, Hon Abudu Ugbesia, among six others.
The suspended nine APC leaders are alleged to have held a clandestine meeting at a hotel in Eidenu, Irrua on the eve of the House of Assembly election and resolved to work against their party candidate for the House of Assembly election, Hon Victor Edoror. It is alleged that they were induced by the ruling party and their grand conspiracy to disallow Hon Edoror to get into the House and become the Speaker which might scuttle their agenda for Esan governor candidate from Esan Central LGA.
The meeting which was attended enmass by angry members and party executives of the party across the LGA appointed former LGA Councillior, and House of Assembly election aspirant, Hon. Bello Oyaziwolo, as the acting Leader, to oversee the affairs of the party pending the determination of the investigation into the degree of involvement of each of the suspended leader.
Interestingly, the Deputy Leader of the Party in Esan Central LGA and former Vice Chairman of the LGA, Hon Francis Ubene, was exempted from suspension because preliminary investigation revealed that he was in the meeting allegedly called by Chief Inegbeniki, but he refused to agree with their alleged plan to sabotage the election for Hon Edoror because according to him “I have forgiven him and if I have forgiven him, I cannot work against him or the party”.
Speaking with Hon Bello, after the appointment, the new LGA Leader said he was not interested in Leading the party for selfish reasons but would commit himself to helping the party rid itself of betrayals and inept leaders in the LGA and hopefully allow a free process to produce the next LGA Leader.
Delta: Oborevwori’s Victory, A Turning Point, Says Ebireri
Media Consultant, Henry Ebireri, has urged Delta State governor-elect, Rt. Hon Sheriff Oborevwori to embark only on programmes that are genuine, attainable, purposeful, durable and people-oriented.
He also urged him to make a significant impact at improving the lot of the masses.
In a statement in Sapele, the media consultant described the March 18 governorship election in Delta State as ‘’’a turning point, a landmark in the history of the oil rich state’’.
He appealed to Oborevwori to steer Delta State in the needed direction.
‘’There is a very high expectation from the governor-elect by the people. He must direct his energy towards inculcating the spirit of self-reliance among the citizenry through economic and empowerment programmes’’
The media professional listed security, youth and women empowerment, agriculture, health, education, infrastructural development, industrial revolution, cultural and tourism rebirth, communication and sports development as key areas to be addressed by the governor-elect.
The statement underscored the future of Delta youths infrastructure and security challenges.
He urged Oborevwori to be fair to all.
He also urged him to recruit only qualified, competent and meritorious hands to help him develop the oil-rich state.
‘’They should be people of integrity, honesty and trust. The team should comprise only tested, dedicated, loyal, courageous, selfless, focused and visionary men and women’’
Ebireri further commended Governor Ifeanyi Okowa for his immense contribution to the political development of Delta State.
Senator Ovie Omo-Agege Rejects INEC’s Declaration of Oborevwori As Winner of Delta Poll
A while ago, the Resident Electoral Commissioner (REC) in Delta State announced Rt. Hon. Sheriff Oborevwori, gubernatorial flagbearer of the Peoples Democratic Party (PDP) as the governor-elect following the March 18 governorship election.
The declaration was made despite the myriad of infractions and acts of impunity on the part of the PDP in the course of the election. These were brought to the attention of INEC with incontrovertible proof.
The March 18 election was characterized by massive fraud, unprecedented vote buying and voter suppression perpetrated by the PDP in the course of the election.
The fraudulent nature of PDP’s so-called victory are just too damning and daring for it to be acceptable in any decent society. Most of those infractions are on the public domain and known to INEC officials and the security agencies involved in superintending the election.
In the February 25 Presidential and National Assembly elections, the results pointed to an unequivocal rejection of the PDP. Of the three senatorial zones in the state, APC won two while PDP controversially edged out the Labour Party in the Delta North Senate race.
It was an unadulterated verdict of Deltans on how they have fared under 24 years of governance of their state by PDP.
On the basis of the factors listed and more that will come later, Senator Ovie Omo-Agege, governorship candidate of the APC in Delta State as well as the leadership of the party, unequivocally reject the declaration by INEC of Rt. Hon. Sheriff Oborevwori of the PDP as winner of the March 18 governorship election.
We will challenge this fraudulent result using all legal means.
As a democrat and Deputy President of the Senate, Omo-Agege will explore all lawful avenues to reclaim the mandate freely given to him by the good people of Delta State.
To the numerous supporters of APC and the entire public that share in Omo-Agege’s vision of building a new Delta State, we urge you all to remain calm, peaceful and law abiding.
I can assure all our teeming supporters and all Deltans that the PDP pyrrhic celebration of a stolen mandate will be short-lived.
By the grace of God and the clearly expressed wish of the people, this electoral heist will be reversed and Senator Omo-Agege will be sworn in on May 29, 2023 as the lawfully elected Governor of Delta State.
Chief Press Secretary to the Deputy President of the Senate and Governorship Candidate of APC, Delta State, Senator Ovie Omo-Agege
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