Connect with us

society

Naira Redesign: El‐Rufai Dares Buhari

Published

on

Naira Redesign: El-Rufai Explains Why Emefiele Is A Saboteur

Disregard Buhari continue using all old notes…El-Rufai declares in Kaduna
State Broadcast by Malam Nasir El-Rufai, Governor of Kaduna State, 16th February 2023.

 

 

 

 

 

My dear people of Kaduna State,

 

Naira Redesign: El‐Rufai Dares Buhari

 

1. With just about 100 days before leaving office, and elections just round the corner, it was my intention to host another media chat to interact with the people of our state in the next few days. While I still hope to do so, I feel the need to address you all today due to the unprecedentedly cruel situation our people and their livelihoods have been thrown into, particularly in the last two to three weeks by the decisions, actions and inactions of the Federal Government of Nigeria.

 

 

 

 

 

 

 

 

2. On behalf of the government of Kaduna State, I wish to express my deepest regret at the needless suffering you are enduring as a result of the prolonged fuel shortage and the difficulties occasioned by the so-called “currency redesign” policy of the Central Bank of Nigeria. We understand your pain. I assure you that as your State Governor, I have been working with my other colleagues to do everything in our power to end these pains.

 

 

 

Naira Redesign: El‐Rufai Dares Buhari

 

 

 

 

3. While publicly supporting what appeared to be a beneficial policy, we innocently engaged privately with the President and the leadership of the Central Bank of Nigeria to review the implementation of the policy so as to reduce its negative impact on the lives and livelihoods of our people, and end the pain being inflicted on citizens. In the absence of any progress to modify implementation on the part of the architects, we were forced to go public about two weeks ago, with our concerns and demand that this suffering must stop.

4. We take seriously our duty to protect ordinary people from the consequences of these policy fiascos. The sad fact is that the victims of these mindless policies are the people that elected us. It is their welfare that is being threatened. Many of our people have been left in a situation where the money they put in banks has literally been confiscated, depriving them of the ability to buy food and basic necessities. Our traders cannot sell as much as they used to because their customers have no access to their hard-earned money.

5. We have been officially informed that the currency redesign policy is to reduce money laundering and render useless stashes of high denomination Naira that many politicians and public officers have accumulated through corruption and other illicit activities. As earlier stated, we are fully in support of such a policy and we made this public from the beginning.

6. We had privately expressed concerns about the timing of the currency design policy and the unrealistic timeline for its implementation. We were assured that all steps have been taken to ensure that we avoid the recent experience of India, where implementation of a similar demonetisation policy targeted at politicians ended up hurting the poorest and small businesses the most.

7. In official briefings to the President, the Central Bank of Nigeria constantly alluded to the fact that the policy also targets politicians who have accumulated a huge war chest for vote buying during the elections. It is now clear that the President has been deceived by the Central Bank of Nigeria and some elements in his government into buying into this overarching narrative, in the name of ensuring free and fair elections in 2023.

8. It is important for the people of Kaduna State, and indeed Nigeria, to know that contrary to the public pronouncements and apparent good intentions, this policy was conceived and sold to the President by officials who completely lost out in the Gubernatorial and Presidential Primaries of the APC in June 2022.

9. Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest. They also sought to achieve any one or more of following objectives:

a. Create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections;

b. Ensure that the cash crunch is so serious, along with the contrived and enduring fuel shortage existing since September 2022, that the 2023 Elections do not hold at all, leading to an Interim National Government to be led by a retired Army General;

c. Sustain the climate of shortage of fuel, food and other necessities, leading to mass protests, violence and breakdown of law and order that would provide a fertile foundation for a military take-over;

10. In the pursuit of these objectives, the Central Bank of Nigeria and these other disgruntled Federal officials have so far convinced the President that it is fine for ordinary citizens to be dispossessed of their hard-earned money, and starved if need be, while small and medium-sized businesses are deprived of access to their capital, thereby bringing trade and exchange to a grinding halt. All our efforts to modify implementation of the policy to avoid what we assumed were unintended consequences were unsuccessful. I chose to speak out first as one person that has been particularly close to the President, believing that his actions were motivated by innocence, and mindful of his legacy. I have no regrets for doing my duty in this regard. One day, the President will appreciate what some of us are being insulted for today.

11. Yet, the politicians that the officials have convinced the President to regard as the real targets of the currency redesign policy have not been impeded in any way by it so far. Indeed, two of the presidential candidates, and a running mate of the opposition parties own or have preferred access to some of the licensed banks. For that reason and by various clandestine arrangements, these politicians have access to hundreds of millions of these new notes, while the traders, merchants, students and other citizens are queuing for days to withdraw a few thousand Naira just to buy food and necessaries.

12. Within two to three weeks of implementation, it was clear to everyone that the architects of this policy can see that it is our people that are being terribly affected, and not the politicians. It is quite unfortunate that many politicians who either own banks or have privileged access to money are so insulated from the pains of talakawa that they are recklessly endorsing a policy that is being badly implemented.

13. I am referring here to the comments by the candidate of one of the opposition parties who expressed opposition to the recommendation first of the APC state governors, and subsequently of all the governors under the auspices of the Nigeria Governors Forum that the implementation timeline be extended, to enable the old and new notes to be legal tender side by side until the cash shortage ends.

14. My dear people of Kaduna State. Let me explain how the architects of this policy intentionally designed it to fail. The total currency in circulation in Nigeria was estimated at N3.2 trillion at the end of 2022. According to the Central Bank of Nigeria, N2.1 trillion has been withdrawn as at early February. The CBN claimed that N700bn is the amount of cash needed for their functioning vision of a “cash-less” Nigerian economy. The Chief Economic Adviser to the President, Dr. Doyin Salami disagrees with this estimate, and believes at least N2 trillion of currency needs to be in circulation for our economic sustainability. Other experts variously estimate this to be between N1.2 trillion and above, so the CBN number of N700bn is not realistic.

15. The CBN informed the President at the very beginning that the Mint (NSPMC) has enough capacity to print the needed currency in circulation within the 6-week timeframe for the so-called ‘cash swap’. By its own admission, only N400bn worth of new notes had been printed for CBN as at early February.The current cash shortage was therefore designed from the beginning, the President was lied to about the domestic capacity of the Mint to print, and even if the announced N700bn was printed, it would have been grossly inadequate anyway. Imagine then printing only N400bn, and making most of it unavailable to the banks but passed to favoured entities through special arrangements. How can the CBN collect N2.1 trillion from citizens and print only N400bn? Is this not a clear case of economic sabotage?

16. It is bad economics to so curtail economic activity and the velocity of circulation of money. It is also insensitive to deliberately cause cash shortage and then seek to instigate the public against the mostly innocent commercial banks. Even the most honest and prudent action by banks cannot magically make N400bn to look like N2.1 trillion, or have the same spread and availability like the CBN should have ensured. As a regulator, the CBN should not be seen to be setting up the banking sector as the public enemy to cover up the glaring failure in its design and implementation of the cash swap policy.

17. We have repeatedly appealed to the Federal Government to allow whatever remains of the old notes to circulate concurrently with the new notes. We recommended that the Federal Government should also hasten to ensure that more of the new notes are printed and brought into circulation. We thought that if the Nigerian Mint is incapable of printing the volume of cash needed as it appears, then necessary steps must urgently be taken to get a reliable supply source.

18. There is no reason why the old notes and the new notes should not coexist until the old notes are gradually withdrawn over the years as is done in the United Kingdom, Saudi Arabia and other countries. It is unfortunate that in implementing this policy, Nigeria is departing from global best practise, without any compelling justification. The Kaduna State Government did all these, not in opposition to any person or authority, but because we stand with our people and their interests.

19. When it was clear that our recommendations will not be seriously considered, the Kaduna State Government decided, along with the governments of Kogi and Zamfara States to declare a dispute with the Federal Government. In line with the provisions of the Constitution, we approached the Supreme Court of Nigeria to invoke its original jurisdiction to hear us and the cries of our people. The Court did on February 8th, and ordered that the deadline of February 10th for all the ‘old’ notes ceasing to be legal tender be rescinded until the determination of the suit. This ruling applies to the Federal Government and its agencies like the CBN, and all commercial banks! We are grateful to the Court for this ruling, and we had hoped that compliance by the CBN and the banks would bring relief to our people. It is now clear that the architects of this policy are determined to continue to inflict maximum pain on the citizens to achieve their objectives outlined earlier.

20. It was our hope that the Federal Government of Nigeria would welcome this injunction as an opportunity to mitigate the needless human suffering being experienced and correct its course on this matter. There is no emergency situation that justifies the rushed and seemingly deliberate incompetent execution of this policy. We suggested that compliance with the ruling would include adopting a whole-of-government approach, that involves the agencies of the federal and state governments in modifying the design, execution the implementation of the currency redesign policy.

21. Even when confronted with the facts above, the CBN and its masters remain determined to implement their agenda no matter how much human suffering, death and destruction results. It is clear that the architects of this policy always had objectives that are totally in conflict with public interest, peace and the unity of Nigeria. They neither considered our suggestions in line with the Court order, nor respected the unanimous resolution of the Council of State.

22. It is also quite revealing that the Federal Government and its agencies not only disobeyed the February 8th ruling by continuing to say the February 10th deadline stands. It is shocking to see the blatant violation of the subsisting and continuing order of the Supreme Court that ALL the old and new notes should continue to be legal tender until it gives judgment in the case filed by the Kaduna State Government along with several others.

23. The address by the President earlier this morning limiting the legal tender status of old notes to only N200 amounts to total disregard and disobedience of the ruling of February 8th which was extended further yesterday by the Supreme Court. The misguided action of the Attorney-General to mislead the President into engaging in this public violation of the order of the highest court of the land shows how desperate the policy architects are to cause national chaos, by showing open contempt for the judiciary.

24. The decision to recognise only N200 as legal tender till April that the President announced this morning was offered to the state governments as part of proposals for an out-of-court settlement three days ago. The Federal Government asserted that this was offered because all the ‘old’ N1,000 and N500 notes had been destroyed. We rejected the offer and proved to the officials that not a single higher denomination note had been destroyed. We also believe that circulating N200 only to be inadequate in alleviating the suffering that we see every day. We insisted that all the components of the Supreme Court order should be complied with.

25. But back home, what do we do in Kaduna State? My dear of people of Kaduna State, with the foregoing revelations, it is clear that our peaceful coexistence as a state, and a nation, is being placed under deliberate danger using the intentional combination of fuel and cash supply disruptions. These evil people using the instrumentality of the Federal Government and the President as convenient covers are willing to truncate our democracy because they have personally lost out. They are massively deploying resources and tools to defeat the political party that gave us the platform to serve the country just because they could not impose the candidates of their choice. Let us not help them

26. Let us stay calm and peaceful, and support the lawful means being utilised to solve our problems. On behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes. Let no artificial and illegal deadline frighten you. Whether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them. Continue to use them as legal tender as ordered by the Supreme Court of Nigeria. No deadline can render them worthless, ever. The law is on your side. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act, both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.

27. Therefore, as your governor, I wish to assure you that the Kaduna State Government, in collaboration with elected legislators, traditional institution, elected local government councils, markets, and traders associations will help you collect, record, document, collate and deliver all your old notes to the Kaduna branch of the Central Bank on your behalf into the new ones immediately after the elections. We will also ensure the delivery of your new notes to your various locations without any hardship or expense on your part. We shall save you any panic and the stress of a long journey from your community to the CBN office in our state capital, from March until December 2023 if need be.

28. For the avoidance of doubt, all the old and new notes shall remain in use as legal tender in Kaduna State until the Supreme Court of Nigeria decides otherwise. I therefore appeal to all residents of Kaduna State to continue to use the old and new notes side by side without any fear. The Kaduna State Government and its agencies shall seal any facility that refuses to accept the old notes as legal tender and prosecute the owners. If need be, we shall take further consequential actions according to the law.

29. While urging you all not to fall for these antics of the enemies of Nigeria, please be patient and continue to exercise resilience in the face of open provocation and deliberate disinformation. We encourage you to be ready with your PVC to vote in the February 25 Presidential and National Assembly elections. We are doing all we can to ensure that it is peaceful, orderly and hitch-free. I appeal to you to understand the shenanigans of these unpatriotic elements in Abuja and ensure you vote massively for the intended victims of these last-minute policies of needless hardship and incitement of the citizens – our party, the APC and its candidates in all the elections.

30. The Kaduna State Government is making this appeal, and taking all these measures to shield our people from the terrible consequences of the currency redesign policy. We seek to protect our people’s hard-earned money, their ability to engage in trade and exchange and buy what they need. We also seek to protect their civic rights, liberties and freedoms under a democratic dispensation. I call on the people of Kaduna State to remain peaceful and vigilant in the face of brazen attempts to engineer crisis in order to get a pretext for unconstitutional or undemocratic actions.

31. In conclusion, our Presidential Candidate, Asiwaju Bola Ahmed Tinubu has asked me to convey his greetings, empathy and words of encouragement to the good people of Kaduna State. He urges us to remain patient, pray for our country and remain vigilant in our pursuit of Renewed Hope.

Thank you all for listening. God Bless Kaduna State. God Bless the Federal Republic of Nigeria.

Nasir Ahmad El-Rufai, CON
Kaduna, 16th February 2023

society

A LIFE LOST, A NATION WOUNDED: NAPS DEMANDS JUSTICE FOR STUDENT KILLED BY RECKLESS POLICE FIRE

Published

on

NAPS National Convention: Polytechnic Students Call for Reforms, Elect New Leaders

A LIFE LOST, A NATION WOUNDED: NAPS DEMANDS JUSTICE FOR STUDENT KILLED BY RECKLESS POLICE FIRE

With a heart weighed down by grief and outrage, I, Comrade Oyewumi Festus Ayomide, President of the Senate, National Association of Polytechnic Students (NAPS), issue this statement to vehemently condemn the senseless killing of a young, innocent student by a reckless officer of the Nigeria Police Force in Ibadan, Oyo State.

According to eyewitness reports, officers pursuing a vehicle along Gbagi Market Road opened fire indiscriminately. A stray bullet struck a student who was calmly seated in his father’s car. This young boy, en route to sit for his WAEC examination alongside his twin brother, was rushed to Welfare Hospital, where he was pronounced dead on arrival (DOA).

This was not just a bullet—it was a bullet that pierced a family’s heart, shattered the dreams of a generation, and struck at the very soul of our nation. That boy had a future, a purpose, and a vision—but now, his life has been unjustly cut short.

Instead of providing protection, the Nigeria Police Force has once again inflicted pain. Instead of offering security, we are handed death in the form of stray bullets. This senseless act of violence has plunged another Nigerian family into irreparable sorrow.

We are devastated. We are enraged. We refuse to remain silent.

On behalf of over 20.1 million Nigerian Polytechnic Students represented by NAPS, I demand the following:

Immediate identification and arrest of the police officer responsible.

Transparent, public prosecution—no secret trials, no cover-ups.

State-funded compensation and formal apology to the bereaved family.

Urgent reform of police engagement protocols, especially the use of firearms in populated areas.

Declaration of all school zones as firearm-free zones for any police operations involving chases or conflict.

We will no longer accept deaths disguised as “mistakes.” We will not condone reckless policing dressed in the cloak of duty. We will resist the normalization of brutality against students and young Nigerians.

If justice is not served immediately, we will not hesitate to mobilize nationwide peaceful protests that will echo through every corner of this country. We will stand still until justice moves.

Enough is enough.
We demand justice for the slain boy.
We demand a Nigeria where every child, student, and youth can live and learn without fear.

Signed,
Comrade Oyewumi Festus Ayomide
President of the Senate
National Association of Polytechnic Students (NAPS)

Continue Reading

society

IGBOS HEROES FOUNDATION’S NATIONAL COORDINATOR CHINEDU NSOFOR REJECTS UMAHI’S CLAIMS, LISTS SOUTHEAST DEMANDS

Published

on

IGBOS HEROES FOUNDATION’S NATIONAL COORDINATOR CHINEDU NSOFOR REJECTS UMAHI’S CLAIMS, LISTS SOUTHEAST DEMANDS

BY
Joseph Monday

Owerri, Imo State, May 21, 2025 – The Igbo Heroes Foundation has issued a stern rebuke of recent remarks made by the Minister of Works Senator David Umahi, describing his comments as “a gross misrepresentation” of the collective aspirations of the Igbo nation. In a strongly worded statement issued on Wednesday, the Foundation’s National Coordinator, Chinedu Nsofor, said Umahi lacked the mandate to speak onbehalf of Ndigbo on such crucial matters.

“Who is Senator Dave Umahi to articulate the needs and demands of the Igbo nation in such a myopic nature?” Nsofor asked pointedly. “Why would he equate a few infrastructural projects executed through his office as constituting the actual needs of the entire Igbo nation across all sectors of national development? This is a dangerous oversimplification and a betrayal of the larger Igbo agenda.” He further lamented what he described as a trend where certain leaders use their privileged access to the federal government to suppress genuine agitation and trade the interests of the region for personal and political gain.

Nsofor, who served as Special Assistant to the late Igbo elder statesman and former President General of Ohanaeze Ndigbo, Chief Dr. Emmanuel Iwuanyanwu, CFR, emphasized that the current generation of leaders, such as Umahi, have deviated sharply from the vision of their predecessors. “Our great leader, Chief Iwuanyanwu, was among the few who truly articulated the developmental needs of Ndigbo. His generation believed in equity, justice, and holistic development, not political tokenism,” Nsofor said. “We at the Igbo Heroes Foundation, where Chief Iwuanyanwu served as our founding chairman, cannot sit and watch his legacies and all he fought for be exchanged for cheap political rewards.”

The Foundation insists that the demands of the Southeast region are longstanding and non-negotiable. “For the avoidance of doubt, what the Igbos want has always been clear,” Nsofor said. “We demand for Igbo presidency; since no Igbo man has been President of Nigeria or head of state since after 1966, we demand for the creation of an additional state to bring the Southeast in line with other zones, the immediate release of Nnamdi Kanu for peace to return to the region, and the inclusion of the Southeast in the national security council.” He also reiterated the region’s long-held call for the restructuring of Nigeria to allow each region develop at its own pace, and for the implementation of rotational presidency to promote equity and national unity. He cited several previous positions by prominent Igbo leaders in favor of restructuring and warned that ignoring these demands would only deepen national disunity.

Reacting to Umahi’s recent comments and the proposed Southeast Summit being reportedly convened by him, Nsofor described it as an “alleged gathering of selfish leaders poised to mortgage the collective aspirations of the Igbo people.” He stated, “Such a summit is unacceptable to us. The Igbo Heroes Foundation and indeed all true sons and daughters of Igbo land must reject attempts to dilute our collective struggle with staged narratives for political convenience.” He further alleged that “Umahi and his associates are attempting to scuttle the Igbo agenda for the sake of what they are personally benefiting from the Tinubu government. We are not against anyone serving in government, but no one should attempt to sell off the soul of Alaigbo for appointments.”

Nsofor admitted that Senator Umahi may be one of the most performing ministers in the current administration but warned against using performance as a license to distort Igbo demands. “Performance does not give you the right to betray your people,” he said. “Even the Yoruba and Hausa-Fulani nations do not compromise their regional interests because a few individuals are appointed to government positions. Instead, they use such platforms to further project their collective agenda. Why should the Igbo situation be different? Are we really cursed in Alaigbo?”

He concluded by urging all Igbo political office holders, across party lines, to prioritize the regional interest above individual gains. “Let Senator Umahi face his job and use his office to advance the Igbo cause, not undermine it. That is what is expected of every well-meaning son or daughter of Alaigbo. The Igbo Heroes Foundation remains committed to protecting the legacies of great leaders like Chief Emmanuel Iwuanyanwu CFR and upholding the true demands of our people.”

Continue Reading

society

Testimonies Galore As Apostle Suleman Ends Two-Day ‘Recovery Conference’ in Canada

Published

on

Testimonies Galore As Apostle Suleman Ends Two-Day ‘Recovery Conference’ in Canada

 

As the powerful ‘Recovery Conference’ gathering enters its second and final day today, Wednesday 21st of May, 2025, in Ottawa, Canada, hundreds of believers are already testifying and bearing witnesses to God’s work in their lives. In a world where young people and adults alike are dying for something to live for, the powerful sermons and prayers from the General Overseer of the Omega Fire Ministries (OFM), Apostle Johnson Suleman are bearing testaments that are like water in the desert that brings life to parched souls.

The world is thirsty for spiritual fulfillment and long for tangible signs of God’s power. The world yearns for men of God with a mark of authenticity, truth, and a deeper connection with the divine, and it hopes for miracles to address suffering and hardship. At Apostle Suleman’s Canada conference, participants shared their stories about finding Jesus, experiencing God’s grace, and growing in faith. They testified to God’s presence through crisis, and about how God’s love has overwhelmed them. Through the power of the Holy Spirit, they declared that God used Apostle Suleman to reveal that He has been active in their lives.

Rev & Pastor (Mrs.) Daniels from Umuahia appreciates God for blessing them with miracle money, giving them a pay rise as well as reviving the work in their hands. Kehinde from Ibadan is grateful to God for fighting his silent battles. Joyce from Delta State thanks God for divine healing. Mercy Gabriel from France gives praises to God for healing her husband of stomach ache and rib pain. A participant was healed of ulcer after listening to the servant of God’s prayers. Many appreciate God for financial blessings. Prosper from Moscow, Russia, appreciates God for granting the wife a safe delivery. Sewa Naomi Seete, a member of the OFM in Gaborone, Botswana, is grateful to God for helping him recover his missing passport. Kelvin from Cameroon is thanking God for supernatural healing. A participant thanks God for deliverance from bed wetting.

“Sharing our testimony not only exposes God’s heart on the matter, but it also shows how He feels about us. Indeed, God’s love is further demonstrated by our testimony,” noted the ‘Restoration Apostle’, suggesting that when we truly believe that God is working all things for our good, we begin to experience the relentless love of God pursuing us over every mountain and valley.

Chioma from the US appreciates God for preservation of her job as well as vindicating her from all accusations at work. Shadrach Johnson from Cameroon thanks God for delivering him from addiction to drugs and smoking. Neba Boris Che from Douala, Cameroon, thanks God for providing a good accommodation for him as well as making provisions available for him. Gladys from Benin is thanking God for deliverance as well as restoration of her marriage. Osato from the US is grateful to God for granting her examination success. Edith from Germany appreciates God for granting her request of German citizenship. Comfort from Lagos thanks God for helping her graduate from fashion school. Miriam Chioma Ikechukwu from Togo is grateful to God for divine healing. Litonga Benjamin Ikome from Limbe, Cameroon is thanking God for blessing him with a job. Maidah Audu from Auchi praises God for the salvation of her soul.

Continue Reading

Cover Of The Week

Trending