7 months ago General Alexymiloore Reach 7 months ago General View Post Share Post Edit Post Delete Post Report Post Nigerians Hail Supreme Court For Suspending Friday’s Deadline Nigerians Hail Supreme Court For Suspending Friday’s Deadline of Using Old Banknotes thegazellenews.comFeb 9, 2023 12:33 PM Nigerians have... Read More Nigerians Hail Supreme Court For Suspending Friday’s Deadline of Using Old Banknotes thegazellenews.comFeb 9, 2023 12:33 PM Nigerians have hailed the verdict of Supreme Court for temporarily suspending Friday’s deadline to stop using old banknotes, which had led to a cash crisis across the length and breadth of the country. Majority of Nigerians interviewed by thegazellenews.com said the verdict has showed that the CBN stand before the latest development is anti-people. A POS operator in based in Alimosho Local Government in Lagos State, Kehinde Popoola, said in an interview, “I praised the verdict of the Apex court for be on the side of Nigerians. The agonies Nigerians had gone through in the last couple of days were unprecedented. You have your money in bank and you cannot collect it, either the old notes or the new one. Tell me where it has happened in other countries of the world. The verdict is big relief to us”. A Chieftain of All Progressive Congress (APC) in Alimosho Local Government in Lagos State, Dele Ogundimu, also showered praises on Supreme Court. “I am very happy over the verdict of the court. It’s the best move. It’ll make things easier for us. They need to release all the old and new naira notes, because the pressure is too much. CBN should have extended the deadline for at least six months and that could have make easy for the new naira notes to circulate well,” Ogundimu said. A pepper seller, Nimota Salami said, “I hail the verdict of the court. The court has seen what average Nigerians are facing as a result of the deadline by the CBN We have all seen what the CBN deadline had caused to us, the poor masses. We have money in banks, we cannot lay our hands on it. But with the verdict of the court, we can now do our normal transactions. Things will be normal again”. A university student, Mutiu Ajadi, on his part, said the verdict is a welcome development and a big relief to many Nigerians who are going through hard time as a result of the CBN deadline. “Our people have suffered greatly due to the incompetence of CBN .Supreme Court did the right thing. The suffering is unbearable. Shortage of new naira notes from banks has led to chaotic scenes as people tried to get their hands on them. “There were fights at ATMs, protests and mob attacks on commercial banks. The chaos led to concern that it could affect this month’s elections,” Ajadi told thegazellenews.com. Last week, APC Governors met President Buhari and urged him to rethink the policy. However, Buhari reiterated the deadline, vowing that the government would do “everything” to resolve the issues. It is estimated that around 60 per cent of Nigeria’s adult population does not have a bank account – especially those living in rural areas. The CBN said the currency redesign and replacement policy, which was announced in October, would help it tackle inflation, which is currently running at about 21 per cent, by reducing the amount of cash in circulation. It added that 80 per cent of the notes currently in circulation were being held outside financial institutions. It said that the new notes would be harder to forge and also said it would limit the amount of withdrawals in order to promote a cashless society. The deadline to stop using the old naira notes was initially 31 January but this was extended until 10 February to give the banks more time to roll out the new notes. The Supreme Court decision comes after a legal challenge initiated by the APC-run northern states of Kaduna, Kogi and Zamfara earlier this month. Their lawyers argued that the government’s policy had led to an “excruciating situation that is almost leading to anarchy in the land”. The case has been adjourned to 15 February. Do you want to take advantage of this years market movements? FXTM Register & Receive NGN500,000 Welcome Bonus Immediately MSport 107-Year-Old Nigerian: My Husband And I Clean Our Vessels History of Sefi Oyeyemi Do this before bed and watch your stomach shrink Student Discovery by TaboolaSponsored Links 1 Comment Share 66 0
8 months ago Politics Alexymiloore Reach 8 months ago Politics View Post Share Post Edit Post Delete Post Report Post Suit against Federal Government Governor Bello Mattawalle of Zamfara State has defended the suit that he and Governors Yahaya Bello (Kogi) and Nasir El-Rufai (Kaduna) filed against... Read More Governor Bello Mattawalle of Zamfara State has defended the suit that he and Governors Yahaya Bello (Kogi) and Nasir El-Rufai (Kaduna) filed against the Federal Government over the naira redesign. The Central Bank of Nigeria (CBN), which redesigned the naira, had fixed January 31 as the deadline of the old notes to be legal tender. But the deadline was extended to February 10 after intense pressure on the government and the apex bank.Last week, Godwin Emefiele said the apex bank was not considering extending the deadline. Extend timeframe for naira redesign implementation, Governors write Buhari Tinubu hails govs over S/Court ruling on CBN’s naira swap policy The All Progressives Congress (APC) Governors had met with President Buhari over the issue and the president asked them to give him seven days to look into it. But the governments of Kaduna, Kogi, and Zamfara states headed for the court to challenge the CBN. In its ruling on Wednesday, a seven-member panel led by Justice John Okoro halted the Federal Government’s move. While some persons praised the governors for their actions, others criticised them. Responding in a statement which his Special Adviser on Media, Zailani Bappa, issued on his behalf, Matawalle said he was convinced that the action and triumph at the court were either misguided or blinded by political chauvinism. Matawalle said, “I and my Kaduna and Kogi states counterparts found it necessary to approach the Supreme Court to save Nigeria’s economy from being plunged into more crisis. “Our action will also relieve the excruciating pain the ordinary Nigerian is experiencing in the face of scarcity of both the old and new naira notes. “It is common sense to say that the CBN and Commercial banks must make the new Naira notes available for day-to-day business transactions before the old naira notes are declared illegal. “The decision of the Supreme Court Judges on this matter was the best way to address the current problem and its impending consequences at the moment. “At this critical time of our transition, it is only patriotic for all of us to put political considerations aside and address the challenges at hand so that together, we can cross the bridge ahead of us.” 1 1 Comment Share 74 1
8 months ago Business Alexymiloore Reach 8 months ago Business View Post Share Post Edit Post Delete Post Report Post BREAKING: Banks Will Accept Old Naira Notes After Deadline, Says Emefiele ThecableJan 31, 2023 BREAKING: Banks Will Accept Old Naira Notes After Deadline, Says Emefiele ThecableJan 31, 2023 Godwin Emefiele, governor of the Central Bank of... Read More BREAKING: Banks Will Accept Old Naira Notes After Deadline, Says Emefiele ThecableJan 31, 2023 Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline. Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redesign and naira swap policy. He said the CBN will also accept the old naira from banks after the February 10 deadline. Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration. Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”. 1 Comment Share 70 0
8 months ago Jobs/Vacancies Alexymiloore Reach 8 months ago Jobs/Vacancies View Post Share Post Edit Post Delete Post Report Post SWIPEWIRE GIVING JOB OPPORTUNITIES SWIPESALE is Managed and Controlled by Swipewires. To give financial freedom to those in need by simply making Sales from either Landed... Read More SWIPESALE is Managed and Controlled by Swipewires. To give financial freedom to those in need by simply making Sales from either Landed properties or Car Dealerships. We love you and care about you. #Swipewires 1 Comment Share 71 1
8 months ago Career Alexymiloore Reach 8 months ago Career View Post Share Post Edit Post Delete Post Report Post DUFIL SCHOLARSHIP PROGRAM APPLY: 2023 Dufil Prima Foods Graduate Trainee Programme for Young Nigerians INTERNSHIPSTRAINING By SR JANUARY 26, 2023 Dufil Prima Foods... Read More APPLY: 2023 Dufil Prima Foods Graduate Trainee Programme for Young Nigerians INTERNSHIPSTRAINING By SR JANUARY 26, 2023 Dufil Prima Foods Graduate Trainee Programme Dufil Prima Foods Graduate Trainee Programme is for young talented graduates who are ambitious and enthusiastic with a mindset to deliver excellent results and exhibit a high level of respect and integrity for our Graduate Trainee Programme. WE ARE ON TWITTER, FOLLOW US TO CONNECT WITH US - @SCHOLARSREGION — Scholarship Region (@scholarsregion) January 13, 2022 Dufil Prima Foods Plc is one of the leading FMCG companies in Nigeria with eight processing locations across the nation. More scholarship opportunities are ongoing in countries across Europe, the United States and Canada. Check out some selected opportunities below: 1 Comment 1 Share 58 1 0