politics
Naira Swap :“bear this moment with equanimity”. Gbajabiamila faults the decision of the FG to disregard the Supreme Court order
…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.
politics
2027 Election: Preserve Your Reputation as a Statesman — Oshiomhole Advises Jonathan, Says Only Your Enemies Want You to Contest
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).
Rivers Governor Siminalayi Fubara has sacked all commissioners and other appointees administration affected by the Supreme Court’s judgement.
The Governor announced the decision during a valedictory session he organised for his cabinet to mark the 65th Independence Anniversary on Wednesday.
A statement by his Chief Press Secretary (CPS), Nelson Chukwudi, confirmed that during the event, which held in Government House, on Wednesday, Fubara relieved all the commissioners and other public officers affected by the Supreme Court’s judgement of their appointments.
The Governor called on all stakeholders to work with President Bola Tinubu in building a peaceful, secured and prosperous country.
He also thanked members of his cabinet for their services and contributions to the development of the state in the last two years..
“He called on all Nigerians to work together with Mr President to build a peaceful, secure and prosperous country and a brighter future for all,” the statement said.
The Governor also reiterated commitment to serve the State with renewed vigor and thanked all citizens for their support, and wished all Nigerians a happy Independence anniversary.
The Court, while recognising the 27-member Assembly led by Speaker Martins Amaewhule as the only authentic legislative arm of government, nullified all legislative decisions made in favour of Fubara during the crisis including the passage of budgets; screening and confirmations of commissioners and other public officers holders.
It was gathered that over 19 of Fubara’s commissioners, whose appointments were screened and confirmed by Oko-Jumbo were affected by the Supreme Court’s judgement.
The judgement rendered the appointment of Iboroma Dagogo, SAN, who was screened and confirmed as the Attorney-General and Commissioner for Justice invalid.
Other commissioners affected by the judgement are Charles O. Beke, Collins Onunwo, Solomon Eke, Peter Medee, Elloka Tasie-Amadi, Basoene Joshua Benibo, Tambari Sydney Gbara and Ovy Orluideye Chinendum Chukwuma.
Also, Illamu Arugu, Rowland Obed Whyte, Samuel Anya, Samuel Eyiba, Austin Emeka Nnadozie, Israel Ngbuelu, Evans Bipi, Otamiri Ngubo, Benibo Alabraba and Emmanuel Frank-Fubara, suffered a similar fate.
It was also gathered that the Governor could consider the inclusion of some of them in the list of fresh nominees he was preparing to send to the House of Assembly.
Publisher of August24news.com, Ajagbe Adeyemi Teslim and Speaker of the Lagos State House of Assembly Rt. Hon. (Dr) Mudashiru Ajayi Obasa.
In a bid to contribute to the stability, unwaving and sterling political Governance in Lagos State since the Era of President Bola Ahmed Tinubu (GCFR) as the then Governor of the State, Renowned Political Journalist and Publisher of August24news.com, Ajagbe Adeyemi Teslim has today presented a GAC Frame to the Speaker of the Lagos State House of Assembly Rt. Hon. (Dr). Mudashiru Ajayi Obasa
GAC, which means Governance Advisory Council is known to be the highest decision making body in Lagos Politics.
The Presentation was done today at the Office of the Rt Honorable Speaker in Ikeja, Lagos.
Our reporter gathered that the frame which is a 24 inches by 34 inches frame size displayed the names, photographs, local government and senatorial district of all the 35 distinguished members of the Lagos State Governance Advisory Council (GAC).
The Names are President Bola Ahmed Tinubu (GCFR) Ikeja Local Government (LAGOS WEST), Sen. Oluremi Tinubu, Eti-Osa Local Government (LAGOS CENTRAL) Gov. BABAJIDE Olusola Sanwo-Olu, Lagos Island Local Government (LAGOS CENTRAL), Gov. Babatunde Raji Fashola, Surulere Local Government (LAGOS CENTRAL), Gov. Dapo Akinwunmi Ambode, Epe Local Government (LAGOS EAST), Prince Tajudeen Oluyole Olusi (OON) Lagos Island Local Government (LAGOS CENTRAL) and Chairman of the GAC, Alhaji Bushura Alebiosu, Kosofe Local Government, (LAGOS EAST), Prince Rabiu Adio Oluwa, Ajeromi Local Government, (LAGOS WEST), RT. Hon. Femi Gbajabiamila, Surulere Local Government. (LAGOS CENTRAL), Alhaji Shakira Akanbi Seriki, Epe Local Government (LAGOS EAST), CHIEF M.A Taiwo, Oshodi/Isolo Local Government (LAGOS WEST), Sen. Idiat Oluranti Adebule, Ojo Local Government. (LAGOS WEST), Hon. Wale Edun, Eti-Osa Local Government, (LAGOS CENTRAL), RT. Hon. Mudashiru Ajayi Obasa, Agege Local Government (LAGOS WEST), Sen. Anthony Adefuye, Somolu Local Government (LAGOS EAST), Alhaji Mutiu Are, Lagos Island Local Government (LAGOS CENTRAL) and Secretary of the GAC, DR. Qadri Obafemi Hamzat, Ifako/Ijaye Local Government (LAGOS WEST), RT. Hon. Sabit Adeyemi Ikuforiji, Epe Local Government (LAGOS EAST), Sen. Ganiu Olanrewaju Solomon, Mushin Local Government (LAGOS WEST), Sen. Adeseye Ogunleye, Kosofe Local Government (LAGOS EAST), CHIEF Abiodun Ogunleye, Ikorodu Local Government (LAGOS EAST), Otunba Henry Oladele Ajomale Oshodi/Isolo Local Government, (LAGOS WEST), Dr. Abayomi Finnih, Ikeja Local Government. (LAGOS WEST), Omooba Murphy Adetoro, Eti-Osa Local Government (LAGOS CENTRAL), Sen. Mikailu Adetokunboh Abiru, Ikorodu Local Government (LAGOS EAST), Hon. Pastor Cornelius Ojelabi, Ojo Local Government (LAGOS WEST), Alhaji Tunde Balogun, Apapa Local Government (LAGOS CENTRAL), Cardinal James Omolaja Odunbaku, Ikeja Local Government (LAGOS WEST), Chief Mrs Adejoke Orelope Adefuluire, Alimosho Local Government, (LAGOS WEST), Asiwaju Olorunfunmi Bashorun, Ikorodu Local Government (LAGOS EAST)
Others are; Omooba Olumuyiwa Sosanya, Kosofe Local Government (LAGOS EAST), Sen. Musiliu Olatunde Obanikoro, Lagos Island Local Government (LAGOS CENTRAL), Princess Sarah Adebisi Sosan, Ojo Local Government (LAGOS WEST), Chief Femi Pedro, Eti-Osa Local Government (LAGOS CENTRAL) and Hon. Mrs. Jumoke Okoya-Thomas, Lagos Island Local Government (LAGOS CENTRAL) respectively.
The frame also has a tribute segment where all the late eight (8) members of the council where fully recognized.
They are Late Hon. Chief Mrs Kemi Nelson, Hon. RF Balogun, Ambassador Rasak Demola Seriki, Oba Olatunji Hamzat, Alhaji Safiriyulahi Sumola, Chief Lanre Rasak (KLM), Proff Tunde Samuel and Chief Sunny Akinsanya Ajose of blessed memory.
The GAC remain one of the deep thoughtful thoughts, several positive political theories and landmark legacies of President Bola Ahmed Tinubu (GCFR) while serving as Governor of Lagos State as part of its efforts to “REBRAND” Governance which has now become a MODEL and TEMPLATE of good Governance in our dear state, Lagos, Hence on his Mandate, we shall continue to STAND.
According to the Publisher of August24news.com Mr. Ajagbe Adeyemi Teslim during the presentation said The Idea of putting the 35 Wise Men and women of the GAC in a Large frame is to showcase their UNITY as well as a way of Promoting their well-deserved Honour. This will no doubt, encourage other political leaders in our state to be more dedicated in their services to our dear state in particular, the country at large and humanity as whole.
Speaking further, The Frame is a great research work carried out by our Editorial Team here in August24news.com, we did this to encourage our leaders in Reshaping, Promoting and Rebranding Our Lagos Politics.
“After today’s presentation to the Speaker, we will continue to roll out the presentation to the office of the Executive Governor of Lagos State, Mr. BABAJIDE OLUSHOLA SANWOLU and his Deputy, Dr. OBAFEMI KADRI HAMZAT, All Honourable Commissioners in the state, Federal and State Lawmakers, All the 57 Council Chairmen, Some Key Dignitaries and other Party Loyalist in the state.
Receiving the Frame in a joyfully mood, Lagos Assembly Speaker, Rt. Hon. (Dr) Mudashiru Ajayi Obasa thank the team for the presentation while commending August24news.com Editorial team for the great research job particularly the Publisher, Mr. AJAGBE ADEYEMI TESLIM for putting up such creativity.
Obasa said the frame will be well kept in a reserved place in his office and archives for coming generation to know their legends and political leader as he call for a minute silent to honour the late eight members of the Council.
Commenting on the GAC FRAME Presentation is a member of the Governance Advisory Council (GAC) who also doubles as the GAC secretary, Alhaji Mutiu Are said the GAC is one of the beauty of Lagos Politics.
Also Commenting, is a Political Analyst Commentator and Publisher of Upshot Media, Mr. Mojeed Jamiu commended Ajagbe for the initiative on the photo frame adding that GAC members deserves even greater recognition, especially given their immense contribution to good governance in Lagos State.
Publisher of August24news.com, Ajagbe Adeyemi Teslim and Speaker of the Lagos State House of Assembly Rt. Hon. (Dr) Mudashiru Ajayi Obasa.
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