Connect with us

News

Despite Rowdy Session , Senate Endorses CBN Naira Redesign Policy
.

Published

on


……To Provide Effective Oversight

The Senate has endorsed Central Bank’ s redesign policy of the Naira Notes despite debating the matter in a rowdy session Wednesday

At the debate on the motion on the Naira Redesign Policy of the Central Bank of Nigeria (CBN), led by the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, some senators had various reservation on the policy

A group punctured the policy, while others, though supported it , but asked for an extension of deadline for the policy to commence

Sponsor of the motion, had, in one of the prayers demanded the Senate to provide legislative support for the policy.

He added that the Senate should also direct the relevant committee to embark on aggressive oversight on the matter

Finally he urged the Senate to support the CBN design policy including the January 31 deadline for compliance.

But trouble began against the motion when Senators Ali Ndume, Abiodun Olujimi, Betty Apiafi, Barau Jibrin, Chukwuka Utazi and Orji Uzor Kalu, though endorsed the policy but requested an extension of the deadline for compliance.

Kalu specifically wanted the Senate to invite the Governor of the CBN, Godwin Emefiele, to throw more light on the policy, while he should be persuaded to extend the deadline to April 30, 2023.

But Senator Gabriel Suswan disagreed with Kalu and others claiming that the CBN Governor has always shunned the Senate invitations.

He urged his colleagues to ignore the CBN policy and let the country damn the consequences.

Senator Bassey Akpan stressed the need to support the CBN Governor, adding that there should be no discussion on the matter.

Suswan and Akpan’s submissions did not go down well with those seeking the extension of the deadline and the chamber turned rowdy.

It took the persistent appeals by the presiding officer, Deputy Senate President Ovie Omo-Agege, to maintain normalcy after 10 minutes of hot arguments among the senators.

Omo-Agege said it was the prerogative of the CBN to redesign the naira and put deadline for compliance.

The Senate, after the rowdy session, offered to provide legislative support for the policy.

It also mandated the Senate Committee on Banking and Financial Institutions to go on oversight.

Ndume had earlier said there are only five banks in the entire 27 local government areas of Borno State since the insurgency started in the state.

Olujimi also said the one and a half months timeframe was too short to withdraw all the money in circulation to avoid shutting down the economy.

She said the Senate should invite the CBN Governor for further explanation on the issue.

Apiafi said rural banking had been shut down hence the January deadline should be extended.

She said counterfeing wasn’t enough to change the naira.

She said the implications of the redesign should be critically examined in view of the fact that bandits have said they would be collecting ransom in foreign currencies.

Jibrin said the naira redesign cannot halt terrorism but could only reduce it.

Utazi said because of the rural nature of the country, the leadership of the Senate should interface with the CBN Governor to explain the implications on the peculiarity of the country, adding that the CBN should visit all the rural communities to get first hand information.

Kalu suggested the extension of the deadline from January 31 to April 31. The Committee on Banking and Finance should meet with the CBN Governor on the matter.

,#

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

ANTI PARTY ACTIVITIES: Esan Central APC, Suspends Nine Leaders, Appoints Bello

Published

on

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.

Continue Reading

News

Delta: Oborevwori’s Victory, A Turning Point, Says Ebireri

Published

on

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.

Continue Reading

News

Press Release

Published

on

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.

Signed
Sunny Areh
Chief Press Secretary to the Deputy President of the Senate and Governorship Candidate of APC, Delta State, Senator Ovie Omo-Agege

Continue Reading

Trending