Instantnaija.com

04/10/2023

UPDATE

Yesterday, the United States House of Representatives removed its speaker Mr. Kelvin McCarthy, a Republican from office in a vote of 216 to 210.

His removal was spearheaded by eight rebellious far right wing Congressmen led by Representative Matt Gaetz who joined their Democratic counterparts in ousting the Speaker.

It’s the first time a House Speaker will be removed from office in such manner. The House is currently on recess for one week and a replacement is already being considered among the other top Republican Congressmen.

Mr. Kelvin McCarthy has already ruled out the idea of running again.

01/10/2023

“Behind every perfect social media post is a normal person with normal life’s problems. So when next you are scrolling through social media and you start feeling inadequate, remember you are comparing your behind-the-scenes to someone else’s highlight reel.”
~Lachlan Brown

05/08/2023

Northern senators to Tinubu: Military intervention in Niger may affect seven Nigerian states
By Admin

The Northern Senators Forum (NSF) has asked President Bola Tinubu to exhaust all diplomatic means in resolving the crisis in Niger Republic.

Instantnaija.com reported that, Suleiman Kawu, the spokesperson of the forum, who spoke in Abuja on Friday, warned that deploying Nigerian troops to the Niger Republic will hurt seven northern states —Sokoto, Kebbi, Katsina, Zamfara, Jigawa, Yobe and Borno —sharing borders with the country.

Niger was given until Sunday of this week by the Economic Community of West African States (ECOWAS) to restore expelled President Mohamed Bazoum or face harsher sanctions.

The senators from the north encouraged the president to concentrate on diplomatic and political strategies to bring back democracy in the Niger Republic.

"The forum, led by Senator Abdul Ningi (PDP-Bauchi), has noted with concern and strongly condemned the unfortunate development in the Niger Republic, where the military overthrew President Mohamed Bazoum's democratically elected government," Kawu was quoted as saying by NAN.

The senators from the north acknowledge the efforts made by the ECOWAS leaders, who were led by our dear President Bola Tinubu, to resolve the situation in the Niger Republic.

But the emphasis is on using diplomatic and political tools to bring back a democratic administration in the Niger Republic.

We oppose the use of military force until all other options have been explored because doing so will result in casualties among law-abiding civilians going about their daily lives.

Additionally, the Niger Republic's border states of Sokoto, Kebbi, Katsina, Zamfara, Jigawa, Yobe, and Borno would suffer an adverse impact.

We are also aware of the circumstances in Libya, Mali, and Burkina Faso, which could have an impact on the seven northern states if force is utilized.

"We hereby urge our colleagues to exercise due diligence in relying upon section 5 sub-section (4) (a) and (b) of the constitution," the statement reads.

05/08/2023

JUST IN: Details of Senate’s Closed-Door Session Emerge, Tackle Tinubu’s Military Plan in Niger

The Nigerian Senate has tackled President Bola Tinubu’s request to deploy troops to Niger Republic in response to the recent military coup.

Instantnaija.com reports that the senators, who are in a closed-door session, said they were against any use of force against the Nigerien government.

They also rejected Tinubu’s proposal to cut off electricity supplies to Niger Republic.

The senators said they were concerned that military action would only escalate the situation in Niger Republic and could lead to further violence.

They also said that cutting off electricity supplies would hurt ordinary Nigeriens who had nothing to do with the coup.

Instantnaija.com quoted a source who gave an update on the close-door session:

“The senators are in an Executive closed door Session now (without the press or anyone) discussing about whether to use force/military action in Niger Republic. Majority of the Senators are against deployment of soldiers and are even against the power supply cut-off as already announced by the Nigerian government.

“Senators are still speaking and most of the Senators are vehement against any deployment of soldiers in any form. Deliberations are ongoing and Senate President is appealing for us to endorse the steps President Tinubu has taken so far, but the Senators vehemently rejected his suggestion and appeal,” the source revealed.

Tinubu’s letter addressed to the Senate and received by Senate President Godswill Akpabio on Friday had partly read, “Following the unfortunate political situation in Niger Republic culminating in the overthrow of its President, ECOWAS under my leadership condemned the coup in its entirety and resolved to seek the return of the democratically elected govt. In a bid to restore peace, ECOWAS convened a meeting and came out with a communique.

“Closure and monitoring of all land borders with Niger Republic and reactivating of the border drilling excercise. Cutting off Electricity supply to Niger Republic; mobilising international support for the implementation of the provisions of the ECOWAS communiqué.

“Preventing the operation of commercial and special flights into and from Niger Republic; blockade of goods in transit to Niger especially from Lagos and eastern seaports; embarking on sensitisation of Nigerians and Nigeriens on the imperative of these actions particularly via social media.

“Military build-up and deployment of personnel for military intervention to enforce compliance of the military junta in Niger should they remain recalcitrant.”

Express news update

30/03/2023

Breaking:

Former President Donald Trump has been indicted by a Manhattan Grand Jury, to be likely arraigned early next week. The indictment has been filed under seal and will be announced in the coming days, multiple sources tell

Express news update

07/03/2023

Nollywood Actress Regina Daniels shares lovely photos with her husband as they recieve certificate of return from INEC in Abuja.

02/03/2023

LIONEL Messi splashed out £175,000 on 35 gold iPhones for his World Cup-winning team and their staff. Each phone has the player’s name, number and the Argentinian logo engraved on it.

01/03/2023

President Muhammadu Buhari receives Asiwaju Bola Ahmed TInubu, the President-elect and his deputy, Sen. Kashim Shettima, the Vice President-elect accompanied by some APC governors, today in Daura, Katsina State.

28/02/2023

The generational Lionel Messi

28/02/2023

APC presidential candidate, Bola Ahmed Tinubu, received in audience representatives of the ECOWAS Election Monitoring Team, led by former Nigeria's President, Goodluck Jonathan, & former President of Ghana, Mr John Mahama, at his residence in Abuja, today February 28.

19/02/2023

Things that happen on our highways

10/02/2023

The Central Bank of Nigeria (CBN) has said that it cannot print adequate naira notes to replace the old N200, N500 and 1,000 notes because the Nigerian Security Printing and Minting Plc (The Mint) is suffering from capacity constraints.

The CBN Governor, Godwin Emefiele, stated this on Friday when he briefed the emergency meeting of the National Council of State.

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President Muhammadu Buhari convened the meeting to discuss issues of national importance among which is the threats posed by the shortage of naira.

There are reports of social disobedience at many banks, a development forcing banks to shut down across the country.

Protests have been recorded in some parts of the country, including in Ogun, Oyo and Akwa Ibom states.

Some state governors have since sued the federal government and the CBN.

The CBN had extended deadline by 10 days, which expired on Friday, February 10.

But the Supreme Court had restrained the Federal Government from enforcing the deadline of old naira notes and adjourned the case to February 15 for hearing.

However, the Attorney-General of the Federation, Abubakar Malami, is challenging that interim ruling by the Supreme Court while the central bank has not spoken on the ruling, thereby leaving Nigerians confused.

A source told Instantnaija.com that the Mint had received CBN’s request to print 70 million copies of the new notes, totalling N126 billion to be pumped into circulation by today, the source added, regretting that the request could not be met because “The Mint doesn’t have the capacity.”

“The Mint has run out of papers to print N500 and 1,000 notes,” a source said, explaining the supply constraints The Minit faces.

“They have placed orders with a German firm and De La Rue of the UK (for papers) but they have been placed on a long waiting list so their orders cannot be met now.”

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30/01/2023

Simplicity Meets Complexity 🎯

29/01/2023

PRESIDENT BUHARI APPROVES EXTENSION OF CURRENCY SWAP BY TEN DAYS

President Muhammadu Buhari Sunday in Daura, Katsina State, approved extension of the ongoing currency swap by ten days, moving the deadline from January 31, 2023 to February 10, 2023.

President Buhari gave the approval at a meeting with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, urging more time, discretion and order to enable Nigerians successfully change their currencies to the redesigned notes, and reduce the risk of loss, especially among the underserved in rural areas.

Briefing newsmen after the meeting, the CBN Governor said the currency swap had achieved more than 75 per cent success rate of the N2.7 trillion held outside the banking system, with evident drop in rate of inflation, more stability of foreign exchange rates, and noticeable impact on security, especially in banditry and kidnapping figures.

"First, I will like to thank Mr. President for giving the CBN the approval to embark on this ambitious programme because, like I said, in the past, the CBN has not had the opportunity to embark on such currency redesign programme in last 19 years and indeed, let me emphasize, that only an incorruptible leader of the President's stature can give such approval to the CBN," he said.

The CBN Governor noted that redesigns were supposed to be every five to eight years.

"Our aim is mainly to make Monetary Policy Decisions more efficacious and as you can see; we have started to see inflation trending downwards and exchange rates relatively stable.

"Secondly, we aim to support the efforts of our security agencies in combating banditry and ransom taking in Nigeria through this programme and we see that the military are making good progress in this important task," he added.

The head of the apex financial regulator said available data had shown that currency-in- circulation in 2015 was only N1.4 trillion, while as at October 2022, currency in circulation had risen to N3.23 trillion, out of which only N500 billion was within the banking industry.

He said N2.7 trillion was held permanently in people's homes.

"Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN.

"So far and since commencement of this programme, we have collected about N1.9 trillion; leaving us with about N900 billion (N500 billion + N1.9 trillion),'' the CBN Governor said.

According to Emefiele, to achieve effective distribution of the new currency, the CBN has taken some steps.

He said several meetings were held with Deposit Money Banks and they were provided with Guidance Notes on processes they must adopt in the collection of old notes and distribution of the New Notes, including directives that new notes should be loaded in ATMs nationwide for equitable and transparent mechanism.

The CBN Governor explained that the regulatory body worked with the media, print and broadcast, and the National Orientation Agency for sensitization of citizens, while 30,000 Super Agents were deployed nationwide, particularly in rural areas, regions underserved by banks and to reach the weak and vulnerable for currency swap.

To ensure compliance, Emefiele said staff members, mostly Assistant Directors, Deputy Directors and Directors in Abuja were sent to all CBN branches nationwide to join the mass mobilization campaign and monitoring programmes.

He said breaches of the programme had been reported to the EFCC and ICPC for further action.

"Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange," he stated.

"Based on the foregoing, we have sort and obtained Mr President's approval for the following: A ten-day extension of the deadline from January 31, 2023, to February 10, 2023; to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside CBN losses their legal tender status," the Governor explained.

Emefiele said a seven-day grace period had been given by the President, beginning from February 10 to February 17, 2023, in compliance with Sections 20 (3) and 22 of CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline.

Fielding questions from newsmen, the CBN Governor said the excuse of security threats pushed by the Kano State Governor, Abdullahi Ganduje, had no bearing on the swap, which had achieved compliance and recorded huge success across the country.

"I don't understand the relationship between the CBN policy and security challenges in Kano State," he added.

He noted that all new currencies had security features that make it easy for tracking to bank branches, and the process had begun to deal with defaulters and those who breached the programme.

"Even if they are CBN staff, they will be sanctioned," Emefiele warned.

Femi Adesina
Special Adviser to the President
(Media & Publicity)
January 29, 2023

29/01/2023

Chelsea have now spent $533M in just two transfer windows under Todd Boehly 💰

That's more than double what any other club have spent in that time 😳

29/01/2023

NAIRA REDESIGN: BUHARI GRANTS CBN’s REQUEST FOR 10-DAY EXTENSION OF DEADLINE
By admin - January 29, 20230

President Muhammadu Buhari, has granted the request of the Central Bank of Nigeria to extend the deadline for the swapping of the old Naira notes to the redesigned ones.

The extension of the deadline followed a meeting between the President and Emefiele in Daura, Katsina State on Sunday.

This followed the President’s meeting with the apex bank’s governor, Godwin Emefiele, in his country home in Daura, Katsina State on Sunday.

With the President’s approval, the new deadline is for the circulation of the old Naira notes is February 10, 2023 as against the former deadline of January 31, 2023.

In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.

According to Emefiele, President Mohammadu Buhari granted the permission to effect the extension

He added that the CBN has collected N1.9 trillion, and left with N900billion to achieve effective implementation of the policy.

He said: “We are happy that so far, the exercise has achieved a success rate of over 75 percent of the N2.7 trillion held outside the banking system. Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise.

“Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange.

“Based on the foregoing, we have sought and obtained Mr President’s approval for the following:

“10-day extension of the deadline from January 31, 2023, to February 10, 2023; to legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.

“Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.

“A 7-day grace period, beginning on February 10 to February 17,2023, in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.

“We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free implementation of this very important process for the program.”

End of the statement.

28/01/2023