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Naira Swap :“bear this moment with equanimity”. Gbajabiamila faults the decision of the FG to disregard the Supreme Court order

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…says policy implementation poor

…adds it’s unclear what interest is being served

The Speaker of the House of Representatives Rep. Femi Gbajabiamila on Thursday faulted the decision of the Federal Government to disregard the Supreme Court order on the issue of currency swap.

It will be recalled that the apex court had last week given an order for the old 1000, 500 and 200 Naira notes to remain legal tender pending the determination of a case brought before it by some state governors.

On Wednesday, the apex court also reiterated its order and adjourned the matter to February 22.

On Thursday morning, President Muhammadu Buhari, in a nationwide broadcast, said he had instructed the Central Bank of Nigeria (CBN) to reintroduce the old N200 note until April 10, 2023, while the old N1000 and N500 have stopped being legal tender.

Reacting in a statement he personally signed in Abuja on Thursday, Gbajabiamila said though the president’s directive was a step in the right direction, the Federal Government could not afford situations that “suggest a wanton disregard for the rule of law.”

“This morning, President Muhammadu Buhari, GCFR, announced that he has authorized the Central Bank of Nigeria (CBN) to reintroduce the old N200 notes into circulation, pending when the Bank can make sufficient amounts of the new currency available. This is a step in the right direction, and I hope it helps curb Nigerians’ suffering.

“However, the decision still falls short of the order of the Supreme Court that the old currencies remain legal tender pending the adjudication of a pending suit brought by state governments on the legality of the policy and its implementation.

“It is not to the benefit of our country for the Federal Government to act in ways that suggest a wanton disregard for the rule of law. It will be better for us to strictly adhere to the court’s order in this matter pending the adjudication of the substantive suit,” he said.

Gbajabiamila however urged the citizens to “bear this moment with equanimity.”

He also urged the people to desist from actions capable of causing the break down of law and order.

“For the sake of our country, we must work together to resist actions that escalate tensions and endanger our democracy at this crucial moment of national awakening and rebirth.

“In all things, let the well-being of our fellow citizens and the survival of our nation be foremost in our hearts and guide all the decisions we make in this historic moment”, the speaker said.

Bemoaning the current situation in the country, Gbajabiamila added that “citizens and visitors are experiencing grave and unnecessary hardship across our country. They spend hours and days queuing at banks and teller machines to receive stipends of their own money to afford life’s necessities.

“This situation is a consequence of the flawed implementation of the naira redesign policy by the Central Bank of Nigeria (CBN). It is also the result of decisions made by the Central Bank’s Governor, Mr Godwin Emefiele, to refuse counsel, be guided by precedent or abide by the decisions of superior courts.”

He said Section 20(3) of the CBN Act, 2007 provided the statutory authority for the apex bank to initiate and implement policies for the recall of Nigerian currency, stressing that based on the provisions of the law, there were 3 conditions precedent for the CBN to recall existing Naira notes.

“The first is that the permission of the President must be obtained, and the second is that reasonable notice shall be given. The third is that the Central Bank of Nigeria shall pay the face value of the recalled currency upon receipt.

“Whereas reasonable people may disagree as to whether sufficient notice was given for the implementation of this policy, it is evident that the Central Bank of Nigeria (CBN) has failed woefully in its statutory obligation to pay the face value of the recalled currency in the form that is useful to the citizens whose current suffering could have been avoided.

“The current scarcity of cash is happening because the Central Bank of Nigeria (CBN) did not sufficiently replace the old currency it pulled out of circulation across the country. This created an artificial scarcity that put significant additional pressure on the already epileptic electronic banking channels, resulting in a near-complete collapse of trade in the country.

“Businesses cannot operate because neither they nor their customers have access to cash, and electronic banking platforms appear to have uniformly collapsed. It is unclear what interest is served by persisting in this erroneous course towards an unfolding economic disaster that the country cannot afford. The ongoing devastation of livelihoods is bound to have consequences long after this moment has passed.

“It is disheartening that the Central Bank of Nigeria (CBN) has resolutely refused to admit error and change course in the face of mounting evidence that the implementation of this policy has been a devastating failure.

“It is deeply troubling that neither the intervention of the National Council of State nor an order of the Supreme Court is sufficient to cause the Governor of the Central Bank of Nigeria (CBN) to review the decisions that have brought us to this entirely avoidable moment”, Gbajabiamila said.

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BREAKING: Osun 2026 — Oyebamiji Resigns as NIWA MD

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The Managing Director of the National Inland Waterways Authority, Bola Oyebamiji, has resigned.

Confirming his resignation in a WhatsApp message to PUNCH Online on Friday night, Oyebamiji said he stepped down in compliance with the electoral law to enable him to contest the 2026 Osun State governorship election.

He said, “Yes, I have resigned in accordance with the electoral law to pursue my Osun 2026 governorship ambition.”

A source close to the NIWA boss also confirmed the development, noting that the resignation is tied to his political aspirations.

“Yes, he has resigned. He is contesting, and he wants to face the election properly,” the source said.

Before his appointment at NIWA, Oyebamiji served as Osun State Commissioner for Finance for two terms and later as Special Adviser to the Minister of Marine and Blue Economy, Adegboyega Oyetola.

He is also a banker, economist, public administrator and politician

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Just IN : INEC declares Soludo winner of Anambra gov poll

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The candidate of the All Progressives Grand Alliance, Prof. Chukwuma Soludo, has been declared the winner of the Saturday, November 8, 2025, Anambra State governorship election by the Returning Officer of the Independent National Electoral Commission, Prof. Edoba Omoregie.

Soludo, who polled a total of 422,664 votes, defeated his closest rival, the candidate of the All Progressives Congress, Nicholas Ukachukwu, who scored 99,445 votes, while the candidate of the Young Progressives Party, Sir Paul Chukwuma, came third with 37,753 votes.

According to INEC, a total of 16 candidates from various political parties participated in the election.

The state had 2,788,864 registered voters, out of which 598,229 were accredited. A total of 595,298 votes were cast, while 11,244 votes were rejected across the 21 local government areas.

From the results announced, Soludo of APGA won in all 21 local government areas of the state in a landslide victory.

Announcing the results at the INEC headquarters in Awka on Sunday, Omoregie said, “The number of registered voters was 2,788,864, while accredited voters were 598,229. The total valid votes stood at 584,054, rejected votes were 11,244, and the total votes cast amounted to 595,298.”

He added, “After collating the results as tallied into Form EC8E, it is now my privilege to declare the figures each candidate scored according to their political parties.

“There were a few areas affected by incidents, leading to cancellations in some wards across Anambra West, Anaocha, Awka South, and Onitsha South LGAs, amounting to 10,481 affected votes. However, the margin of lead between the top candidates did not affect the overall outcome of the election.

“I, Prof. Edoba Omoregie, Returning Officer for the 2025 Anambra State Governorship Election, hereby declare that the election was peaceful. Chukwuma Soludo of the All Progressives Grand Alliance, having scored 422,664 votes — the highest number of valid votes cast and having satisfied the requirements of the law — is hereby declared the winner and returned elected.”

Breakdown of results:

Total registered voters: 2,788,864

Total accredited voters: 598,229

Total valid votes: 584,054

Rejected votes: 11,244

Total votes cast: 595,298

Votes by political parties:
A – 224
AA – 1,145
AAC – 292
ADC – 8,208
APC – 99,445
APGA – 422,664
APM – 892
APP – 73
BP – 126
LP – 10,576
NNPP – 525
NRM – 36
PDP – 1,401
SDP – 241
YPP – 37,753
ZLP – 453

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2027 Election: Preserve Your Reputation as a Statesman — Oshiomhole Advises Jonathan, Says Only Your Enemies Want You to Contest

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Former Edo State governor, Adams Oshiomhole, has advised former President Goodluck Jonathan against yielding to pressure to contest the 2027 presidential election, warning that doing so would damage his legacy.

Speaking on Channels Television’s Sunday Politics, Oshiomhole said that only those who do not wish Jonathan well would encourage him to return to the political arena, adding that the All Progressives Congress (APC) would easily defeat him if he chose to run.

“How can Jonathan be a threat? We defeated him before when PDP was truly PDP,” Oshiomhole said.

“If a man had PDP at its best, at its peak, and he was defeated, I think only his enemy will push him to go into election.”

The former APC national chairman advised Jonathan to preserve his reputation as a statesman and avoid a return that could erode the respect he earned after conceding defeat in 2015.

“If I were able to advise him, I will say, Sir, maintain this status. You governed for eight years, you don’t have to govern for nine,” Oshiomhole said.

According to Oshiomhole, Jonathan “has managed to demonstrate that out of power, you can be relevant and at peace.”

He praised Jonathan’s historic concession speech in 2015, describing it as one of his most admirable legacies.

“Looking at how he ascended to that office, if I were him, I will spend the end of my life trying to find relevance, which he has already found, and speaking because that conceding defeat, and that is memorable quote about my blood, sorry, blood of a Nigerian is not worth my ambition, he should just allow those legacies to be,” he said.

Oshiomhole further argued that Jonathan’s political base in the South-South had weakened since his departure from office, making a comeback unrealistic.

“We will defeat him flatly if he comes out because now the South-South is no longer PDP. So where is he going to start from?” he asked.

Jonathan, who was the candidate of the Peoples Democratic Party (PDP), lost the 2015 presidential election to the late Muhammadu Buhari of the All Progressives Congress (APC).

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